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Dollex Industries Ltd.

BSE: 531367 Sector: Others
NSE: N.A. ISIN Code: INE892A01020
BSE LIVE 14:36 | 24 Nov 2.54 0.12
(4.96%)
OPEN

2.42

HIGH

2.54

LOW

2.42

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.42
PREVIOUS CLOSE 2.42
VOLUME 1902
52-Week high 5.13
52-Week low 2.21
P/E 127.00
Mkt Cap.(Rs cr) 9
Buy Price 2.54
Buy Qty 34098.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.42
CLOSE 2.42
VOLUME 1902
52-Week high 5.13
52-Week low 2.21
P/E 127.00
Mkt Cap.(Rs cr) 9
Buy Price 2.54
Buy Qty 34098.00
Sell Price 0.00
Sell Qty 0.00

Dollex Industries Ltd. (DOLLEXINDS) - Auditors Report

Company auditors report

To the Members of Dollex Industries Limited

Report on the Financial Statements

We have audited the accompanying financial statements of Dollex Industries Limited CINL67120MH1994PLC080560 which comprise the Balance Sheet as at March 31 2017 theStatement of Profit and Loss and Cash Flow Statement for the yearthenendedand significantaccountingpolicies summaryof and other explanatory information.

Management's Responsibility for the 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 preparation ofthese standalone financial statements that give a true and fair of the financialfinancialperformance of the Company in accordance with the accounting principlespositionand generally accepted in India including the Accounting Standards specifiedunder Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.This responsibility also includes maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding of the assets of the Company and forpreventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit. We have taken into account the provisions of the Act the accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made there under. We conducted our audit inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers 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. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof the financial statements.

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

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 information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India: (a) in the case of the Balance Sheetof the state of affairs of the Company as at March 31 2017; (a) in the case of the Profitand Loss Account of the profit for the year ended on that date; and (b) in the case ofthe Cash Flow Statement of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Act we give in theAnnexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by section 143 (3) of the Act we report that: a) we have obtained allthe information and explanations which to the best of our knowledge and belief werenecessary for the purpose of our audit; b) in our opinion proper books of account asrequired by law have been kept by the Company so far as appears from our examination ofthose books; c) the Balance Sheet and Statement of Profit and Loss dealt with by thisReport are in agreement with the books of account; d) In our opinion theaforesaidstandalonefinancialstatements comply with the Accounting Standards specifiedunder Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014; e)On the basis of the written representations received from the directors as on 31st March2017 taken on record by the Board of Directors none of the directors is disqualified ason 31st March 2017 from being appointed as a director in terms of Section 164 (2) of theAct.

3. With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in Annexure.

For P.K. Shishodiya & Co.
Chartered Accountants
Sd/-
Mr.P. K. Shishodiya
Proprietor
Date: 29th May 2017 M. No 036015
Place: Indore FR No.03233C

ANNEXURE REFERRED TO IN POINT 1 OF REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS OFTHE REPORT OF THE AUDITORS ON THE ACCOUNTS OF DOLLEX INDUSTRIES LIMITED CINL67120MH1994PLC080560 FOR THE YEAR ENDED 31st MARCH 2017

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

(b) A major portion of the assets has been physically verified by the management inaccordance with the phased programme of verification adopted by the company. In ouropinion the frequency of verification is reasonable. To the best of our knowledge nomaterial discrepancies have been noticed on such verification.

(c) The title deeds of immovable property are held in the name of the company.

2. The inventory has been physically verified by the management during the year atreasonable intervals. In our opinion the frequency of verification is reasonable. On thebasis of our examination of stock records we are of the opinion that no materialdiscrepancies were noticed on physical verification.

3. The company has not granted any secured or unsecured loans to any companies firmslimited liability partnership or other parties covered in the register maintained undersection 189 of the Companies Act 2013.

4. The company has no such transaction during the year to which the provisions ofsection 185 and 186 of the Companies Act 2013 gets attracted.

5. In our opinion and according to the information and explanations given to us thecompany has not accepted any deposits from the public within the meaning of section 73 to76 of the Companies Act 2013 or any other relevant provisions of the Act and the rulesframed there under.

6. The company is not covered under the clause regarding maintenance of cost records asprescribed by the Central Government under section 148 (1) of the Companies Act 2013.

7. (a) According to the records of the company the company is regular in depositingwith appropriate authorities undisputed statutory dues including provident fundemployees' state insurance income tax sales tax wealth tax service tax custom dutyexcise duty cess and other statutory dues applicable to it.

(b) According to the records of the company there are no dues of sales tax servicetax custom duty excise duty or value added tax on account of any dispute.

8. According to information and explanation given to us the company has not taken anyloan from any financial institution bank or government. The company has not issued anydebentures.

9. The company has not raised any money by way of initial public offer or furtherpublic offer (including debt instrument) and term loan during the year.

10. No fraud on or by the company has been noticed or reported during the year.

11. According to information and explanation given to us the company has paid orprovided the managerial remuneration in accordance with the requisite approvals mandatedby the provisions of section 197 of the Companies Act 2013.

12. The said company is not a Nidhi company. Hence the provisions of Nidhi company arenot applicable. 13. According to information and explanation given to us the company hasdisclosed all the transactions with the related parties in compliance with the sections177 and 188 of the Companies Act 2013 and details have been enclosed in the FinancialStatements as required by applicable accounting standard.

14. The company has not made any preferential allotment or private placements ofshares.

15. According to information and explanation given to us the company has not enteredinto any non cash transactions with directors or persons connected with them.

16. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For P.K. Shishodiya & Co.
Chartered Accountants
Sd/-
Mr. P. K. Shishodiya
Proprietor
Date: 29th May 2017 M. No 036015
Place: Indore FR No.03233C

ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE STANDALONE FINANCIALSTATEMENTS OF DOLLEX INDUSTRIES LIMITED CIN L67120MH1994PLC080560 Report on the InternalFinancial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act2013 ("the Act")

We have audited the internal financial controls over financial reporting of DOLLEXINDUSTRIES LIMITED CIN L67120MH1994PLC080560 ("the Company") as of March 312017 in conjunction with our audit of the standalone financial statements of the Companyfor the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls 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 Controls Over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe 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 CompaniesAct 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 168 Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controlsoverfinancialreporting was established and maintainedand 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 systemoverfinancialreporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial assessing therisk that a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor's judgement including the assessment of the risks of materialmisstatement of the financial 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 authorizations ofmanagement and directors of the company; and

3) Provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company's assets that could have amaterial 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 P.K. Shishodiya & Co.
Chartered Accountants
Sd/-
Mr. P. K. Shishodiya
Proprietor
Date: 29th May 2017 M. No 036015
Place: Indore FR No.03233C