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DHP India Ltd.

BSE: 531306 Sector: Consumer
NSE: N.A. ISIN Code: INE590D01016
BSE LIVE 15:40 | 21 Nov 470.90 -8.00
(-1.67%)
OPEN

499.95

HIGH

499.95

LOW

462.50

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 499.95
PREVIOUS CLOSE 478.90
VOLUME 2092
52-Week high 530.05
52-Week low 132.65
P/E 11.87
Mkt Cap.(Rs cr) 141
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 499.95
CLOSE 478.90
VOLUME 2092
52-Week high 530.05
52-Week low 132.65
P/E 11.87
Mkt Cap.(Rs cr) 141
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

DHP India Ltd. (DHPINDIA) - Auditors Report

Company auditors report

TO THE MEMBERS OF DHP INDIA LIMITED

1. Report on the Standalone Financial Statements

We have audited the accompanying Standalone financial statements of DHP INDIALIMITED ("the Company") which comprise the Balance Sheet as at March31 2017 the Statement of Profit & Loss the Cash Flow Statementfor the year ended and a summary of significant accounting policies and otherexplanatory information.

2. Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ( "the Act") with respect to the preparationof these Standalone financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordance withthe accounting principles generally accepted in India including Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies ( Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates thatreasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

3. Auditors' Responsibility

Our Responsibility is to express an opinion on these Standalone financialstatements based on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matter which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with Standards on Auditing specified under Section143(10) of the Act. Those Standards require that we comply with ethical requirements andplans and perform the audit to obtain reasonable assurance about whether the financialstatements are free from material misstatements.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depends on the auditor'sjudgment including the assessment of the risk of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by the Company's Directors as well as evaluating theoverall presentation of the financial statements.

We believe that audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Standalone financial statements.

4. Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Standalone financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairsof the Company as at March 31 2017 and its profit and its cash flow forthe year ended on that date.

5. Report on Other Legal and Regulatory Requirements

5.1 As required by the Companies (Auditors' Report) Order 2016 (‘theOrder") as amended issued by the Central Government of India in terms ofsub-section (11) of section 143 of the Act we give in the ANNEXURE- A a statement on thematters specified in paragraph 3 and 4 of the said Order.

5.2 As required by Section 143(3) of the Act we report that :

(a) We have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purpose of our audit;

(b) In our opinion proper books of account as required by law have been kept by theCompany so far as appears from our examination of the books;

(c) The Balance Sheet the Statement of Profit and Loss and the CashFlow Statement dealt with by this Report are in agreement with the books of account;

(d) In our opinion the aforesaid Standalone financial statements comply withthe Accounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;

(e) On the basis of written representations received from the directors as on March31 2017 and taken on record by the Board of Directors none of the directors isdisqualified as on March 31 2017 from being appointed as directors in terms of Section164(2) of the Act.

(f) With respect to the adequacy of the internal financial control over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in "ANNEXURE – B".

(g) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us :

(i) The Company does not have any pending litigations which impact its financialposition;

(ii) The Company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long-term contracts includingderivative contracts – Refer Note No. 25.2 to the financial statements;

(iii) There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company.

(iv) The Company has provided requisite disclosures in its Standalone FinancialStatements as to holding as well as dealing in Specified bank Notes during the periodfrom 8 November 2016 to 30 December 2016 and these are in accordance with the books ofaccounts maintained by the Company. Refer Note 14.1 to the standalone financialstatements.

For NAVIN NAYAR & CO.
Firm Registration No. 317117E
Chartered Accountants
230A A. J. C. Bose Road NAVIN NAYAR
Kolkata - 700 020 Proprietor
The 22nd day of May 2017 Membership No. 053267

"ANNEXURE-A" TO THE INDEPENDENT AUDITORS' REPORT

Referred to in paragraph 5.1 under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date to the financial statements ofthe Company for the year ended March 31 2017 :

1. In respect of its Fixed Assets :

(a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) The Fixed Assets have been physically verified by the management in a phasedmanner designed to cover all the items over a period of three years which in ouropinion is reasonable having regard to the size of the Company and nature of itsbusiness. Pursuant to the program a portion of the fixed assets has physically verifiedby the management during the year and no material discrepancies between the books recordsand the physical fixed assets have been noticed.

(c) The title deeds of immovable properties are held in the name of the Company.

2. In respect of its Inventories :

(a) The management has conducted the physical verification of inventory at reasonableintervals.

(b) The discrepancies noticed on physical verification of the inventory as compared tobooks records which has been properly dealt with in the books of account were notmaterial.

3. The Company has not granted any loans secured or unsecured to the companies firmsor other Limited Liability Partnerships or other parties covered in the Registermaintained under Section 189 of the Act. Accordingly the provisions of clause 3 (iii) (a)to (c) of the Order are not applicable to the Company and hence not commented upon.

4. In our opinion and according to the information and explanations given to us theCompany has complied with the provisions of section 185 and 186 of the Companies Act2013 in respect of loans investments guarantees and security.

5. The Company has not accepted any deposits from public and hence the directivesissued by the Reserve Bank of India and the provisions of Section 73 to 76 or any otherrelevant provisions of the Act and the Companies (Acceptance of Deposit) Rules 2015 withregard to the deposits accepted from public are not applicable.

6. We have broadly reviewed the cost records maintained by the Company pursuant toCompanies (Cost Records and Audit) Rules 2014 read with Companies (Cost Records andAudit) Amendment Rules 2014 prescribed by the Central Government under Section 148 of theCompanies Act 2013 and are of the opinion that prima facie the prescribed cost recordshave been maintained. We have however not made a detailed examination of the cost recordswith a view to determine whether they are accurate or complete.

7. (a) According to the information and explanations given to us and on the basis ofour examination of the books of accounts and records the Company has been generallyregular in depositing undisputed statutory dues including Provident Fund Employees StateInsurance Income-Tax Sales Tax Service Tax Duty of Customs Duty of Excise ValueAdded Tax Cess and any other statutory dues with the appropriate authorities. Accordingto the information and explanations given to us no undisputed amounts payable in respectof the above were in arrears as at March 31 2017 for a period of more than six monthsfrom the date on when they become payable.

(b) According to the information and explanations given to us there are no dues ofincome-tax sales tax service tax duty of customs duty of excise value added taxoutstanding on account of any dispute.

8. In our opinion and according to the information and explanations given to us theCompany has not defaulted in the repayment of dues to banks. The Company has not takenloan either from financial institutions or from the government and has not issued anydebentures.

9. Based upon the audit procedures performed and the information and explanations givenby the management the Company has not raised money by way of initial public offer orfurther public offer including debt instruments and term loans. Accordingly theprovisions of clause 3 (ix) of the Order are not applicable to the Company and hence notcommented upon.

10. Based upon the audit procedures performed and the information and explanation givenby the management we report that no fraud by the Company or on the Company by its Officeror Employees has been noticed or reported during the year.

11. Based upon the audit procedures performed and the information and explanation givenby the management the managerial remuneration has been paid or provided in accordancewith the requisite approvals mandated by the provisions of section 197 read with ScheduleV to the Companies Act.

12. In our opinion the Company is not a Nidhi Company. Therefore the provisions ofclause 4 (xii) of the Order are not applicable to the Company.

13. In our opinion all transactions with the related parties are in compliance withsection 177 and 188 of the Companies Act 2013 and the details have been disclosed in theFinancial Statements as required by the applicable accounting standards.

14. Based upon the audit procedures performed and the information and explanationsgiven by the management the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year underreview. Accordingly the provisions of clause 3 (xiv) of the Order are not applicable tothe Company and hence not commented upon.

15. Based upon the audit procedures performed and the information and explanationsgiven by the management the Company has not entered into any non-cash transactions withdirectors or persons connected with him. Accordingly the provisions of clause 3 (xv) ofthe Order are not applicable to the Company and hence not commented upon.

16. In our opinion the Company is not required to be registered under section 45 IA ofthe Reserve bank of India Act 1934 and accordingly the provisions of clause 3 (xvi) ofthe Order are not applicable to the Company and hence not commented upon.

For NAVIN NAYAR & CO.
Firm Registration No. 317117E
Chartered Accountants
230A A. J. C. Bose Road NAVIN NAYAR
Kolkata - 700 020 Proprietor
The 22nd day of May 2017 Membership No. 053267

"ANNEXURE - B" TO THE INDEPENDENT AUDITORS' REPORT Of EVEN DATE ON THESTANDALONE FINANCIAL STATEMENTS OF DHP INDIA LIMITED

Report on the Internal Financial Control under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act") - Referred to in paragraph 5.2(f) ofour report of even date to the financial statements of the Company for the year endedMarch 31 2017 :

We have audited the internal financial controls over financial reporting of DHPINDIA LIMITED ( "the Company") as of March 31 2017 in conjunctionwith our audit of the Standalone financial statements of the Company for the yearended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial control based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the guidance note on Audit of Internal Financial Control Over financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includesthe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgement including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and ( 3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2017 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For NAVIN NAYAR & CO.
Firm Registration No. 317117E
Chartered Accountants
230A A. J. C. Bose Road NAVIN NAYAR
Kolkata - 700 020 Proprietor
The 22nd day of May 2017 Membership No. 053267