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Hexa Tradex Ltd.

BSE: 534328 Sector: Others
NSE: HEXATRADEX ISIN Code: INE750M01017
BSE LIVE 15:25 | 15 Dec 44.00 0.45
(1.03%)
OPEN

44.00

HIGH

44.40

LOW

42.00

NSE 15:31 | 15 Dec 43.75 1.00
(2.34%)
OPEN

44.00

HIGH

44.60

LOW

40.80

OPEN 44.00
PREVIOUS CLOSE 43.55
VOLUME 14962
52-Week high 44.60
52-Week low 14.20
P/E
Mkt Cap.(Rs cr) 243
Buy Price 42.75
Buy Qty 200.00
Sell Price 44.00
Sell Qty 323.00
OPEN 44.00
CLOSE 43.55
VOLUME 14962
52-Week high 44.60
52-Week low 14.20
P/E
Mkt Cap.(Rs cr) 243
Buy Price 42.75
Buy Qty 200.00
Sell Price 44.00
Sell Qty 323.00

Hexa Tradex Ltd. (HEXATRADEX) - Auditors Report

Company auditors report

To

The Members of HEXA TRADEX LIMITED Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of HEXA TRADEX LIMITED("the Company") which comprise the Balance Sheet as at 31st March 2016 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements The Company's Board ofDirectors is responsible for the matters stated in Section 134(5) of the Companies Act2013 (‘the Act") with respect to the preparation of these financial statementsthat give a true and fair view of the financial position financial performance and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Accounting Standards specified under Section 133 of the Act readwith Rule 7 of the Companies (Accounts) Rules 2014. This responsibility also includesmaintenance of adequate accounting records in accordance with the provisions of the Actfor safeguarding of the assets of the Company and for preventing and detecting frauds andother irregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

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 thereunder. 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 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 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 of the state of affairs of the Companyas at 31st March 2016 and its profit and its 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 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure ‘A' a statement on the matters specified in theparagraph 3 and 4 of the Order to the extent applicable.

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 purposes of our audit.

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

(c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with 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 the written representations received from the directors as on 31stMarch 2016 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director in terms of Section164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls

over financial reporting of the Company and the operating effectiveness of suchcontrols refer to 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 would impact its financialposition;

ii. The Company did not have any long-term contracts

including derivatives contracts for which there were any material foreseeable losses;

iii. There was no amount which was required to be transferred by the Company to theInvestor Education and Protection Fund.

For N.C. Aggarwal & Co.
Chartered Accountants
Firm Registration No. 003273N
G. K. Aggarwal
Date: 30th May 2016 Partner
Place: New Delhi M. No.086622

ANNEXURE 'A' TO INDEPENDENT AUDITORS' REPORT

(Annexure referred to in our report of even date to the members of HEXA TRADEX LIMITEDon the accounts for the year ended 31st March 2016)

1. (a) The Company has maintained proper records in respect of its Fixed Assets showingfull particulars including quantitative details and situation of fixed assets.

(b) Fixed assets of the company have been physically verified by the management duringthe year which in our opinion is reasonable. No discrepancy was noticed during physicalverification.

(c) No immovable properties are held by the Company as at 31st March 2016. Accordinglyparagraph 1 (c) of the Order is not applicable.

2. As explained to us the management during the year has physically verifiedinventories at reasonable intervals there is a perpetual inventory system and asubstantial part of such stock has been verified during the year. In our opinion thefrequency of verification is reasonable. On the basis of our examination of the inventoryrecords in our opinion the Company is maintaining proper records of inventories. Nodiscrepancy noticed during physical verification of inventories as compared to bookrecords.

3. The Company has given interest bearing unsecured demand loans to its subsidiarycompany covered in the register maintained under section 189 of the Companies Act 2013.

(a) In our opinion and according to the information given to us the terms andconditions of the loans given by the Company are prima facie not prejudicial to theinterest of the Company.

(b) In respect of aforesaid loan the amount principal as well as interest accruedthereon is repayable on demand and hence the question of irregularity on payment ofprincipal and interest does not arise.

(c) The aforesaid loan is repayable on demand and therefore the question of overdueamount does not arise.

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 Act with respectto the loans and investments made.

5. According to the information and explanations given to us and the records examinedby us the Company has not accepted any deposits from the public during the year.Accordingly the Paragraph 3(v) of the Order is not applicable to the Company.

6. The company has only investments and trading activities. Hence the clause 3 (vi) ofthe order with respect to maintenance of cost records as specified by the Central

Government under sub-section (i) of section 148 of the Companies Act 2013 is notapplicable to the company.

7. (a) According to the information and explanations given to us the Company isgenerally regular in depositing with the appropriate authorities undisputed statutory duesas applicable to the Company i.e. provident fund income tax and service tax. On the basisof verification and as explained to us the Company does not have any liability foremployees' state insurance sales tax duty of customs duty of excise value added taxcess or other statutory dues. There are no arrears as at 31st March 2016 for a period ofmore than six months from the date they become payable.

(b) According to the information and explanation given to us there are no dues inrespect of as applicable to the Company i.e. income tax and service tax and which have notbeen deposited on account of any dispute. On the basis of verification and as explained tous the Company does not have any liability for sales tax duty of customs duty of exciseor value added.

8. According to the information and explanations given to us the Company has not takenany loan from financial institution bank government and debenture holder. Thereforeclause 3 (viii) of the Order with respect to default of repayment is not applicable to theCompany.

9. The Company has not raised any money by way of initial public offer or furtherpublic offer or debt instruments. In our opinion and according to the information andexplanation given to us the term loans have been applied for the purposes for which theywere raised.

10. According to the information and explanations given to us and as represented by theManagement and based on our examination of the books and records of the Company and inaccordance with generally accepted auditing practices in India we have been informed thatno case of frauds has been committed on or by the Company or by its officers or employeesduring the year.

11. The Company does not provide or paid any managerial remuneration as per theprovisions of Section 197 read with Schedule V of the Companies Act 2013. Accordinglyprovisions of clause 3 (xi) of the Order are not applicable to the Company.

12. The company is not a Nidhi Company. Accordingly the provisions of clause 3 (xii)of the Order are not applicable to the Company.

13. According to the information and explanations given to us all transactions withthe related parties are in compliance with section 177 and 188 of Act and whereapplicable the details have been disclosed in the Financial Statements as required by theapplicable accounting standards.

14 According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year. Accordingly provisions of clause 3 (xiv) of the Order are not applicable to theCompany.

15 According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into any non-cashtransactions with directors or persons connected with him as covered under Section 192 ofthe Companies Act 2013. Accordingly provisions of clause 3 (xv) of the Order are notapplicable to the Company.

16 According to the information and explanations given to us the company is notrequired to be registered under section 45-IA of the Reserve Bank of India Act 1934.Accordingly provisions of clause 3 (xvi) of the Order are not applicable to the Company.

For N.C. Aggarwal & Co.
Chartered Accountants
Firm Registration No. 003273N
G. K. Aggarwal
Date: 30th May 2016 Partner
Place: New Delhi M. No.086622

ANNEXURE ‘B' TO INDEPENDENT AUDITORS' REPORT Annexure referred to in our report ofeven date to the members of HEXA TRADEX LIMITED on the accounts for the year ended 31stMarch 2016

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of HEXA TRADEXLIMITED ("the Company") as of 31st March 2016 in conjunction with our audit ofthe standalone financial statements of the Company for 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 and the components of internal control stated in the GuidanceNote on Audit of Internal Financial Controls over Financial Reporting issued by theInstitute of Chartered Accountants of India (ICAI). These responsibilities include thedesign implementation and maintenance of adequate internal financial controls that wereoperating 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 ICAI. Those Standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate internal financial controls overfinancial reporting was established and maintained and if such controls operatedeffectively in all material respects. Our audit involves performing procedures to obtainaudit evidence about the adequacy of the internal financial controls system over financialreporting and their operating effectiveness. Our audit of internal financial controls overfinancial reporting included obtaining an understanding of internal financial controlsover financial reporting assessing the risk that a material weakness exists and testingand evaluating the design and operating effectiveness of internal control based on theassessed risk. The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the financial statements whether dueto 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 regardingprevention or timely detection of unauthorized 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 31st March 2016 based on theinternal control over financial reporting criteria established by the Company and thecomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls over Financial Reporting issued by the ICAI.

For N.C. Aggarwal & Co.
Chartered Accountants
Firm Registration No. 003273N
G. K. Aggarwal
Date: 30th May 2016 Partner
Place: New Delhi M. No.086622