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Company Information

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Bank of Baroda

Feb 15
101.00 -2.60 ( -2.51 %)
 
VOLUME : 628275
Prev. Close 103.60
Open Price 103.60
TODAY'S LOW / HIGH
100.60
 
 
 
104.50
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
90.70
 
 
 
167.00
Feb 15
100.85 -2.80 ( -2.70 %)
 
VOLUME : 10362257
Prev. Close 103.65
Open Price 104.25
TODAY'S LOW / HIGH
100.30
 
 
 
104.45
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
91.00
 
 
 
167.20
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Market Cap. ( ₹ ) 26680.03 Cr. P/BV 0.57 Book Value ( ₹ ) 176.01
52 Week High/Low ( ₹ ) 167/91 FV/ML 2/1 P/E(X) 0.00
Bookclosure 13/07/2018 TTM EPS ( ₹ ) 0.00 Div Yield (%) 0.00
AUDITOR'S REPORT
You can view full text of the latest Director's Report for the company.
Year End :2018-03 

Report on the Standalone Financial Statements of Bank of Baroda

1. We have audited the accompanying standalone financial statements of Bank of Baroda as at March 31, 2018, which comprises the Balance Sheet as at March 31, 2018, the Profit and Loss Account and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Incorporated in these financial statements are the returns of 20 branches and one Specialized Integrated Treasury Branch audited by us, 2729 branches audited by statutory branch auditors and 16 foreign territories audited, one foreign territory reviewed by local auditors in respective countries. The branches audited by us and those audited by other auditors have been selected by the Bank in accordance with the guidelines issued to the Bank by the Reserve Bank of India. Also incorporated in the Balance Sheet and the Profit and Loss Account are the returns from 2717 branches which have not been subjected to audit. These unaudited branches account for 8.78 per cent of advances, 20.81 per cent of deposits, 7.75 per cent of interest income and 17.01 per cent of interest expenses.

Management’s Responsibility for the Standalone Financial Statements

2. The Bank’s management is responsible for the preparation of these standalone financial statements in accordance with the Banking Regulation Act, 1949, Reserve Bank of India guidelines from time to time and accounting standards generally accepted in India. This responsibility includes the design, implementation and maintenance of internal controls relevant to the preparation of the standalone financial statements that give true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

3. Our responsibility is to express an opinion on these standalone financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements.

4. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the standalone financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the Bank’s preparation and fair presentation of the standalone financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on effectiveness of the Bank’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Management, as well as evaluating the overall presentation of the standalone financial statements.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

6. In our opinion, as shown by books of bank and to the best of our information and according to the explanations given to us:

i. The Balance sheet, read with the significant accounting policies and the notes thereon is a full and fair Balance Sheet containing all the necessary particulars, is properly drawn up so as to exhibit a true and fair view of state of affairs of the Bank as at March 31, 2018 in conformity with accounting principles generally accepted in India;

ii. The Profit and Loss Account, read with the significant accounting policies and the notes thereon shows a true balance of loss, in conformity with accounting principles generally accepted in India, for the year covered by the account; and

iii. The Cash Flow Statement gives a true and fair view of the cash flows for the year ended on that date.

Emphasis of Matter

7. We draw your attention to Note No. 2.8 regarding unamortized balance of Rs.291 crores on account of additional liability towards gratuity deferred to subsequent three quarters by the Bank.

Our opinion is not modified in respect to the above.

Report on Other Legal and Regulatory Requirements

8. The Balance Sheet and the Profit and Loss Account have been drawn up in Forms "A" and "B" respectively of the Third Schedule to the Banking Regulation Act, 1949.

9. Subject to the limitations of the audit indicated in paragraph 1 to 5 above and as required by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 and subject also to the limitations of disclosure required therein, we report that;

a. We have obtained all the information and explanations which to the best of our knowledge and belief, were necessary for the purposes of our audit and have found them to be satisfactory;

b. The transactions of the Bank, which have come to our notice, have been within the powers of the Bank; and

c. The returns received from the offices and branches of the Bank have been found adequate for the purposes of our audit;

10. We further report that:

a. The Balance Sheet and Profit and Loss account dealt with by this report are in agreement with the books of account and returns;

b. The reports on the accounts of the branch offices audited by branch auditors of the Bank under section 29 of the Banking Regulation Act, 1949 have been sent to us and have been properly dealt with by us in preparing this report; and

c. In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement comply with the applicable accounting standards.

11. The standalone financial statements of the Bank for the year ended March 31, 2017 were audited by other joint audit firms of the Bank, one of whom is the continuing audit firm. Those auditors have expressed an unmodified opinion vide their report dated May 18, 2017 on such standalone financial statements.

For Kalyaniwalla & Mistry LLP. For Singhi & Co. LLP. For G M Kapadia & Co. For S R Dinodia &

Co. LLP.

Chartered Accountants Chartered Accountants Chartered Accountants Chartered

Accountants

FRN:104607W / W100166 FRN : 302049E FRN : 104767W FRN : 001478N /

N500005

(Daraius Fraser) (Rajiv Singhi) (Rajen Ashar) (Sandeep Dinodia)

Partner Partner Partner Partner

M No. 042454 M No. 053518 M No. 048243 M No. 083689

Date: 25th May 2018

Place: Mumbai