You are here » Home » Companies » Company Overview » Jupiter Infomedia Ltd

Jupiter Infomedia Ltd.

BSE: 534623 Sector: Others
NSE: N.A. ISIN Code: INE524N01014
BSE LIVE 15:05 | 15 Dec 78.95 -0.25
(-0.32%)
OPEN

77.00

HIGH

78.95

LOW

77.00

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 77.00
PREVIOUS CLOSE 79.20
VOLUME 445
52-Week high 93.00
52-Week low 60.00
P/E 171.63
Mkt Cap.(Rs cr) 79
Buy Price 77.00
Buy Qty 5.00
Sell Price 78.95
Sell Qty 35.00
OPEN 77.00
CLOSE 79.20
VOLUME 445
52-Week high 93.00
52-Week low 60.00
P/E 171.63
Mkt Cap.(Rs cr) 79
Buy Price 77.00
Buy Qty 5.00
Sell Price 78.95
Sell Qty 35.00

Jupiter Infomedia Ltd. (JUPITERINFO) - Auditors Report

Company auditors report

ON THE STANDALONE FINANCIAL STATEMENTS

To

The Members of Jupiter Infomedia Limited Report on the standalone financial statements

We have audited the accompanying standalone financial statements of JUPITER INFOMEDIALIMITED (herein after referred to as "Company") which comprise the BalanceSheet as at March 312017 the Statement of Profit and Loss the Cash Flow Statement forthe year then ended and a summary of significant accounting policies and otherexplanatory 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 (herein after referred to as "the Act") withrespect to the preparation and presentation of these financial statements that give a trueand fair view of the financial position financial performance and cash flows of theCompany in accordance with the accounting principles generally accepted in Indiaincluding the Accounting Standards specified under Section 133 of the Act read with Rule7 of the Companies (Accounts) Rules 2014.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing 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.

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 accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance as to whetherthe financial statements are free from material 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 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 the accounting policies used and thereasonableness of the accounting estimates made by the Company's Board of Directors aswell as evaluating the overall presentation of the financial statements.

We believe that the audit evidence obtained by us 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 financial statements give the information required by the Actin the manner 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 Group as at March312017;

b. In the case of the Statement of Profit and Loss of the profit of the Group for theyear 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 the Companies (Auditors' Report) Order 2016 (the "order")issued by the Central Government of India in terms of sub-section (11) of Section 143 ofthe Act and on the basis of such checks of the books and records of the Company as weconsidered appropriate and according to the information and explanations given to us wegive in the Annexure "A" a statement on the matters specified in paragraphs 3and 4 of the Order to the extent applicable.

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 accounts 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 Account and the Cash FlowStatement dealt with by this report are in agreement with the books of account.

d. In our opinion the financial statements comply with the Accounting Standardsspecified 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 31March 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2017 from being appointed as a director in terms of Section164 (2) of the Act.

f. With respect to the adequacy of internal financial controls over financial reportingof the Company and the operating effectiveness of such controls refer to our separatereport 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. There are no pending litigations which would impact the financial position of theCompany.

ii. The Company did not have any long term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There were no amount which was required to be transferred to the InvestorEducation and Protection Fund.

iv. The Company has provided requisite disclosures in Note 13 to these financialstatements as to the holding as well as dealing in Specified Bank Notes during the periodfrom November 8 2016 to December 30 2016. Based on our audit procedures and relying onthe management representation regarding the holding and nature of cash transactionsincluding Specified Bank Notes we report that these disclosures are in accordance withthe books of accounts maintained by the Company and as produced to us by the Management.

For Mahadev Desai Associates
Chartered Accountants
Firm Regn. No. 105737W
Place: Mumbai Mahadev T. Desai (M. No. 41280)
Date: May 15 2017 Proprietor

Annexure A to Independent Auditors' Report

(Referred to in paragraph 9 of the Independent Auditors' Report of even date to themembers of JUPITER INFOMEDIA LIMITED on the standalone financial statements for the yearended March 312017)

1. In respect of its Fixed Assets:

a. The Company has maintained proper records showing full particulars includingquantitative details and situation of the fixed assets.

b. As explained to us all the Fixed assets have been physically verified during theyear by the management at regular intervals which in our opinion is reasonable havingregard to the size of the Company and nature of its assets.

According to the information and explanations given to us no discrepancies were noticedon such verification.

c. According to the information and explanations given by the management the titledeeds of immovable properties included in fixed assets are held in the name of theCompany.

2. The Company's business does not involve inventories and accordingly therequirements under paragraph 3(ii) of the Order are not applicable to the Company.

3. The Company has not granted any loans to companies firms or other parties coveredin the register maintained under section 189 of the Act.

4. The Company has not granted any loans or provided any guarantees or security to theparties covered under section 185. In our opinion and according to the information andexplanations given to us the Company has complied with the provisions of section 186 ofthe Companies Act 2013 in respect of investments made by it.

5. The Company has not accepted any deposits in terms of directives issued by ReserveBank of India and the provisions of Sections 73 to 76 or any other relevant provisions ofthe Companies Act and the rules framed there under.

6. According to the information and explanations given to us the company is notengaged in any of the activity specified in The Companies (Cost Accounting Records) Rules2011 hence requirement of maintenance of cost records under section 148(1) of the Act isnot applicable to the company.

7. Statutory and other dues:

a. According to the information and explanations given to us undisputed statutory duesincluding Provident Fund employees' State Insurance Income Tax Sales Tax Service taxduty of customs duty of excise value added tax cess and other material statutory dueswherever applicable have been generally regularly deposited with the appropriateauthorities. According to the information and explanations given to us no undisputedamount payable in respect of aforesaid dues were outstanding as at the end of the year fora period of more than six months from the date of becoming 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 tax andCess outstanding on account of dispute.

8. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to a financial institution bank orgovernment. The company has not issued any debentures.

9. In our opinion and according to information and explanations given by themanagement monies raised by the Company by way of initial public offer (IPO) in earlieryear were applied for the purpose for which the monies were raised though idle/surplusfunds which were not required for immediate utilization have been gainfully invested inliquid investments payable on demand. The company has not raised any money by way offurther public offer (including debt instrument) and term loan.

10. In our opinion and according to the information and explanation given to us nofraud on or by the Company has been noticed or reported during the year that caused thefinancial statement to be materially misstated.

11. The Company has paid/ provided for managerial remuneration in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theAct.

12. As the Company is not a Nidhi Company and the Nidhi Rules 2014 are not applicableto it.

13. The Company has entered into transactions with related parties in compliance withthe provisions of sections 177 and 188 of the Act. The details of such related partytransactions have been disclosed in the financial statements as required under AccountingStandard 18 Related Party Disclosures specified under section 133 of the Act read withrule 7 of the Companies (Accounts) Rules 2014.

14. The Company has not made any preferential allotment or private placement of sharesor fully or partly convertible debentures during the year under review.

15. The Company has not entered into any non-cash transactions with its directors orpersons connected with him.

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

For Mahadev Desai Associates
Chartered Accountants
Firm Regn. No. 105737W
Place: Mumbai Mahadev T. Desai (M. No. 41280)
Date: May 15 2017 Proprietor

Annexure "B" to Independent Auditors' Report

(Referred to in paragraph 10(f) of the Independent Auditors' Report of even date to themembers of Jupiter Infomedia Limited on the standalone financial statements for the yearended 31 March 2017)

Report on the internal financial controls under clause (i) of sub-section 3 of section143 of the Act.

1. We have audited the internal financial controls over financial reporting of JupiterInfomedia Limited as of 31 March 2017 in conjunction with our audit of the standalonefinancial statements of the Company for the year ended on that date.

Management's responsibility for internal financial controls

2. 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 (ICAI). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including 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 Act.

Auditors' responsibility

3. 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 deemed to be prescribed under section143(10) of the Act to the extent applicable to an audit of internal financial controlsboth applicable to an audit of internal financial controls and both issued by the ICAI.Those Standards and the Guidance Note require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the 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 judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

5. 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

6. 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 have amaterial effect on the financial statements.

Inherent limitations of internal financial controls over financial reporting

7. 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

8. 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 31 March 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 Mahadev Desai Associates
Chartered Accountants
Firm Regn. No. 105737W
Place: Mumbai Mahadev T. Desai (M. No. 41280)
Date: May 15 2017 Proprietor