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Dollex Industries Ltd.

BSE: 531367 Sector: Others
NSE: N.A. ISIN Code: INE892A01020
BSE LIVE 15:40 | 25 Sep 3.71 0.16
(4.51%)
OPEN

3.72

HIGH

3.72

LOW

3.40

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.72
PREVIOUS CLOSE 3.55
VOLUME 14636
52-Week high 5.13
52-Week low 2.21
P/E 371.00
Mkt Cap.(Rs cr) 13
Buy Price 3.72
Buy Qty 27168.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.72
CLOSE 3.55
VOLUME 14636
52-Week high 5.13
52-Week low 2.21
P/E 371.00
Mkt Cap.(Rs cr) 13
Buy Price 3.72
Buy Qty 27168.00
Sell Price 0.00
Sell Qty 0.00

Dollex Industries Ltd. (DOLLEXINDS) - Auditors Report

Company auditors report

To the Members of Dollex Industries Limited CIN L67120MH1994PLC080560

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 2016 theStatement of Profit and Loss and Cash Flow for the year then ended and a summary ofsignificant accounting policies 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 of these standalonefinancial statements that give a true and fair view of the financial position andfinancial performance generally accepted in India including the 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 of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable 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.

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 accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under. We conducted our audit in accordancewith the Standards on Auditing specified under Section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

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 risks 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 financial statementsthat give a true and fair view in order to design audit procedures that are appropriate inthe circumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by theCompany’s Directors as well as evaluating the overall presentation of the financialstatements. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the standalone financialstatements.

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 2016;

(a) in the case of the Profit and Loss Account of the loss for the year ended on thatdate; and (b) in the case of the Cash Flow Statement of the cash flows for the year endedon that date

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 issued by theCentral Government of India in terms of sub-section (11) of section 143 of the Act wegive in the Annexure a statement on the matters specified in paragraphs 3 and 4 of theOrder.

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 the aforesaidstandalonefinancialstatements comply with the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014; e) On the basisof the written representations received from the directors as on 31st March 2016 taken onrecord by the Board of Directors none of the directors is disqualified as on 31st March2016 from being appointed as a director in terms of Section 164 (2) of the Act.

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 M/S. P.K. Shishodiya & Co.
Chartered Accountants
Sd/-
Mr. P. K. Shishodiya
Proprietor
Date: 30th May 2016 M. No 036015
Place: Indore FR No.03233C

ANNEXURE REFERREDTOIN POINT NO.1 OF REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTSOF THE REPORT OF THE AUDITORS ON THE ACCOUNTS OF DOLLEX INDUSTRIES LIMITED CINL67120MH1994PLC080560 FOR THE YEAR ENDED 31st MARCH 2016

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 customduty excise 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 further publicoffer (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 has disclosed allthe transactions with the related parties in compliance with the sections 177 and 188 ofthe Companies Act 2013 and details have been enclosed in the Financial Statements asrequired by applicable accounting standard.

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

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 Reserve Bankof India Act 1934.

For M/S. P.K. Shishodiya & Co.
Chartered Accountants
Sd/-
Mr. P. K. Shishodiya
Proprietor
Date: 30th May 2016 M. No 036015
Place: Indore FR No.03233C

ANNEXURE TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON THE STANDALONEFINANCIAL STATEMENTS OF DOLLEX INDUSTRIES LIMITED CIN L67120MH1994PLC080560 Report on theInternal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of theCompanies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of DOLLEXINDUSTRIES LIMITED CIN

L67120MH1994PLC080560 ("the Company") as of March 31 2016 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat 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 theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the 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 controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects. Our auditinvolves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Ouraudit of internal financial controls over financial reporting included obtaininganunderstandingofinternal financialreporting controlsover assessing the risk that amaterial 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 wehave obtained is sufficient and appropriate to provide a basis for our audit opinion onthe Company’s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that: (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company’s assets that could havea 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 2016 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 M/S. P.K. Shishodiya & Co.
Chartered Accountants
Sd/-
Mr. P. K. Shishodiya
Proprietor
Date: 30th May 2016 M. No 036015
Place: Indore FR No.03233C