You are here » Home » Companies » Company Overview » Dynamic Portfolio Management & Services Ltd

Dynamic Portfolio Management & Services Ltd.

BSE: 530779 Sector: Financials
NSE: N.A. ISIN Code: INE118C01018
BSE LIVE 12:30 | 14 Dec 1.54 0.07
(4.76%)
OPEN

1.54

HIGH

1.54

LOW

1.54

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.54
PREVIOUS CLOSE 1.47
VOLUME 100
52-Week high 3.50
52-Week low 1.23
P/E 51.33
Mkt Cap.(Rs cr) 2
Buy Price 1.54
Buy Qty 900.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.54
CLOSE 1.47
VOLUME 100
52-Week high 3.50
52-Week low 1.23
P/E 51.33
Mkt Cap.(Rs cr) 2
Buy Price 1.54
Buy Qty 900.00
Sell Price 0.00
Sell Qty 0.00

Dynamic Portfolio Management & Services Ltd. (DYNAMICPORTFOL) - Auditors Report

Company auditors report

To

The Members of

Dynamic Portfolio Management & Services Limited

Report on the Financial Statements

We have audited the accompanying financial statements of M/s. Dynamic PortfolioManagement & Services Limited (the Company) which comprise the Balance Sheet as at31st March 2015 the Statement of Profit and Loss and the Cash Flow Statement for theyear then ended and a summary of the significant accounting policies and otherexplanatory information.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters in section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. 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 issued by the Institute of Chartered Accountants of India.Those Standards require that we comply with the ethical requirements and plan and performthe audit to obtain reasonable assurance about whether the financial statements are freefrom material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the Company’s internal control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2015;

b) in the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on that date and

c) in the case of the Cash Flow Statement of the cash flows of the Company for theyear ended on that date.

Report on Other Legal and Regulatory Requirements

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 purposes 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 those books.

c) the Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) On the basis of written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies Act 2013 (Audit and Auditors) Rules 2014 inour opinion and to the best of our knowledge and belief and according to the informationand explanations given to us.

i. The Company does not have any pending litigations which would impact its financialposition; ii. The Company did not have any long-term contracts including derivativescontracts for which there were any material foreseeable losses;

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

For Mukesh Choudhary & Associates
Chartered Accountants
Firm Registration No. 325258E
Place : Kolkata
Date : May 28 2015
Mukesh Kumar Choudhary
Partner
Membership No. 062099

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

(Annexure to Independent Auditor’s Report of M/s. Dynamic Portfolio Management& Services Limited referred to in Paragraph 1 under the heading "Report on otherlegal and regulatory requirements" of our report of even date)

1. (a) The Company has maintained memorandum of Fixed Assets Register showing fullparticulars including quantitative details and situations of fixed assets.

(b) As per the information and explanations given to us the Company has carried outphysical verification of fixed assets during the year. In our opinion the frequency ofsuch verification is reasonable.

(c) Any substantial part of fixed assets has not been disposed off during the yearwhich will affect its status as a going concern.

2. The inventory has been physically verified during the year by the management. In ouropinion the frequency verification of is reasonable.

The procedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.

On the basis of our examination of the records of inventory we are of the opinion thatthe Company is maintaining proper records of inventory. The discrepancies noticed verificationbetween the physical stocks and the book records were not material.

3. (a) According to the information and explanation given to us and on the basis ofrecords furnished before us the Company has not granted any loans secured or unsecuredto Companies firms or other parties covered in the register maintained under section 189of the Companies Act 2013.

(b) According to the information and explanation given to us and on the basis ofrecords furnished before us for the verification the Company has not accepted anydeposits from the public covered under Section 73 to 76 of the Companies Act 2013.

4. As informed to us the Central Government has not prescribed maintenance of costrecords under subsection (1) of Section 148 of the Act.

5. In our opinion and according the information & explanations given to us thereis an adequate internal control procedure commensurate with the size of the Company andnature of business for the purchase of fixed assets and for the sale of services. Duringthe course of our Audit no major weakness has been noticed in the internal control systemin respect of these areas.

6. (a) In our opinion and according the information & explanations provided by themanagement the particulars of contract or arrangements that were required to be enteredin the register maintained under Section 189 of the Companies Act 2013 have been soentered in the said register.

(b) In our opinion and according the information & explanations given to us thetransactions made in pursuance of such contracts or arrangements five exceeding value ofRs. lac have been entered into during the financial year at prices which are prima-faciereasonable having regard to prevailing market prices at the relevant time.

7. In our opinion the Company has an internal audit system commensurate with its sizeand the nature of its business.

8. (a) In our opinion and according to the information and explanations given to usundisputed statutory dues including Provident Fund Investors’ Education &Protection Fund Employees State Insurance Scheme Income Tax Sales Tax Wealth TaxCustom Duty Excise Duty CESS and any other statutory dues have been regularly depositedin time during the year with appropriate authorities and there are no undisputed statutorydues payable for a period of six months from the date they became payable as at 31st March2015.

(b) According to the information and explanation given to us there are no disputespending before the authorities in respect of Sales Tax Income Tax Custom Duty and CESS.

9. The Company does not have accumulated losses as at the end of financial year and hasnot incurred cash losses in the current financial year and in the immediate precedingfinancial year.

10. According to the records made available to us and information and explanation givento us by the management the Company has not defaulted in repayment of any dues tofinancial institutions or banks.

11. According to the information and explanations given to us the Company has notgranted any loans & advances on the basis of security by way of pledge of sharesdebentures and other securities.

12. In our opinion and according to the information and explanations given to us theCompany has maintained proper records of transactions and contracts relating to dealing inshares securities and other investments during the year and timely entries have been madetherein. Further such securities have been held by the Company in its own name or are inthe process of transfer in its name except to the extent of the exemption granted section49 of the Act.

13. In our opinion and according to the information and explanations given to us theCompany has not given guarantees for loans taken by others from Banks & FinancialInstitutions. 14. According to the information and explanations given to us and on thebasis of and overall examination of the Balance Sheet of the Company no funds raised onshort term basis have been utilized for long term investment and vice versa.

15. The company has not made preferential allotment of shares to parties and/or to thecompanies covered in the register maintained under section 189 of the Companies Act 2013.16. During the course of examination of the books and records of the Company carried outin accordance with generally accepted auditing practices in India and according to theinformation and explanation given to us we have neither come across any instance of fraudon or by the Company noticed or reported during the period nor we have been informed ofsuch instances by the management.

For Mukesh Choudhary & Associates
Chartered Accountants
Firm Registration No. 325258E
Place : Kolkata
Date : May 28 2015
Mukesh Kumar Choudhary
Partner
Membership No. 062099