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Chennai Meenakshi Multispeciality Hospital Ltd.

BSE: 523489 Sector: Health care
NSE: N.A. ISIN Code: INE889F01017
BSE 00:00 | 20 Mar 11.25 0
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11.50

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12.20

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11.25

NSE 05:30 | 01 Jan Chennai Meenakshi Multispeciality Hospital Ltd
OPEN 11.50
PREVIOUS CLOSE 11.25
VOLUME 3900
52-Week high 25.95
52-Week low 10.00
P/E 15.41
Mkt Cap.(Rs cr) 8
Buy Price 11.05
Buy Qty 200.00
Sell Price 11.25
Sell Qty 477.00
OPEN 11.50
CLOSE 11.25
VOLUME 3900
52-Week high 25.95
52-Week low 10.00
P/E 15.41
Mkt Cap.(Rs cr) 8
Buy Price 11.05
Buy Qty 200.00
Sell Price 11.25
Sell Qty 477.00

Chennai Meenakshi Multispeciality Hospital Ltd. (CHENNAIMEENA) - Auditors Report

Company auditors report

To

The Members

M/s. Chennai Meenakshi Multispeciality Hospital Limited

Chennai.

Report on the Ind AS Financial Statements

We have audited the accompanying Ind AS financial statements of M/s. CHENNAI MEENAKSHI

MULTISPECIALITY HOSPITAL LTD ("THE Company") which comprise the BalanceSheet as at 31st

March2018the Statement of Profit and Loss (including Other Comprehensive Income)theCash Flow Statement and the Statement of Changes in Equity for the year then ended and asummary of the significant 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 IndAS financial statements that give a true and fair view of the state of affairs(financialposition)profit or loss(financial performance including other comprehensive income)cashflows and changes in equity of the company in accordance with the accounting principlesgenerally accepted in

Indiaincluding the Indian Accounting Standards(Ind AS) prescribed under Section 133 oftheAct.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the company andfor prevention and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgements 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 Ind ASfinancial statements that give a true and fair view and are free frommaterialmisstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these Ind AS financial statements basedon 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 of Ind AS financial statements in accordance with the Standardson Auditing specified under Section 143(10) of the Act. Those Standards require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether the Ind AS financial statements is free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the Ind AS financial statements. The procedures selected depend on theauditors' judgement including the assessment of the risks of material misstatement of theInd AS financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the company'spreparation of the Ind AS financial statements that give a true and fair view in order todesign audit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by Company's Directors aswell as evaluating the overallpresentation of the Ind AS financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Ind AS financial statements give the information required bythe Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India including the Ind AS of the state ofaffairs(financial position)of the Company as at

31 March2018and its profits(financial performance including other comprehensiveincome)its cash flows and the changes in equity for the year ended on that date.

Other Matters

The comparative financial information of the company for the year ended 31 March 2017and the transition date opening balance sheet as at 1 April 2016 included in these Ind ASfinancial statements are based on the previously issued statutory financial statementsprepared in accordance with the Companies(Accounting Standards) Rules2006 audited by thepredecessor auditor whose report for the year ended 31 March 2017 and 31 March 2016 dated22 May 2017 and 28

May 2016 respectively expressed an unmodified opinion on those financial statements asadjusted for the differences in the accounting principles adopted by the Company ontransition to the Ind AS which have been audited by us.

Our opinion is not modified in respect of this matter.

Report on other Legal and Regulatory Requirements

As required by the Companies(Auditor's Report) Order2016("the Order") issuedby the Central

Government of India in terms of sub-section(11) of section 143 of the Act we give in"Annexure" a statement on the matters specified in paragraphs 3 and 4 of theOrder.

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 examinations of those books and proper returnsadequate for the purposes for our audit have been received from the branches not visitedby us;

(c) The Balance Sheet the Statement of Profit and Loss the Cash Flow Statement andStatement of

Changes in Equity dealt with by this report are in agreement with the books of accountand with the returns received from the branches not visited by us;

(d) In our opinion the aforesaid Ind AS financial statements comply with the IndianAccounting

Standards prescribed under Section 133 of the Act;

(e) On the basis of the written representations received from the directors as on 31March 2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March

2018 from being appointed as a director in terms of Section 164(2) of the Act;

(f) 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-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 opinion and to the best ofour information and according to explanations given to us:

i. The Company did not have any pending litigations ;

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

iii. There has been no delay in transferring amounts required to be transferredto theInvestor

Education and Protection Fund by the Company.

For MRC Et ASSOCIATES

Chartered Accountants

G. CHIRANJEEVULU FCA

Partner

Membership. No.215032

Firm Registration No. 004005S

Place : Chennai

Date : 28.05.

ANNEXURE-A TO THE INDEPENDENT AUDITOR'S REPORTS

Annexure referred to in paragraph 1 under the heading "Report on other Legal andRegulatory

Requirements" of our report of even date

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

(b) The fixed assets have been physically verified by the management during the year.There is a regular programme of verificationwhichin our opinionis reasonablehavingregard to the size of the company and nature of its fixed assets. No materialdiscrepancies were noticed on such verification.

(c) According to our examination of the books and records of the Company and theinformation and explanations given to usthe title deeds of immovable properties are heldin the name of the

Company.

ii. The inventory has been physically verified by the management at reasonableintervals. The discrepancies noticed on verification between the physical stocks and bookrecords were not material.

iii. The Company has not granted any loans secured or unsecured tocompaniesfirmsLimited

Liability Partnership or other parties covered in the register maintained under section189 of the

Act. Accordingly paragraph 3 (iii) of the order is not applicable.

iv. The Company has not entered into any transaction in respect ofloansinvestmentsguarantees and security to which the provisions of Section 185186 of theAct would apply.

v. The company has not accepted any deposits from the public to which the provisions ofsection 73 to 76 or any other relevant provisions of the Act and the rules framed thereunder would apply.

vi. The Central Government has not prescribed maintenance of cost records under Section148(1) of the Act in respect of the products of the company.

vii. (a) According to the records of the company the company is regular in depositingwith appropriate authorities undisputed statutory dues including provident fundsemployees' state insurance income tax Sales tax Service tax duty of customs duty ofexcise value added tax cess and any other statutory dues applicable to it except in fewcases where there is a delay in deposit. According to the information and explanationsgiven to usno undisputed amounts payable in respect of provident fund employees' stateinsurance income tax sales taxservice tax duty of customs duty of excise value addedtax cess and any other statutory dues applicable to it were outstanding as at 31 March2018 for a period of more than six months from the date they became payable.

(b) According to the records of the company there are no dues of income tax Salestax Service tax duty of customs duty of excise value added tax which have not beenDeposited with the appropriate authorities on account of any dispute.

viii. The company has not defaulted in the repayment of loans or borrowings to banks.The Company has neither taken any loans or borrowings from financial institutions orgovernment nor issued any debentures during the year.

ix. According to the information and explanations given to us and based on the recordsof the company examined by us no monies were raised by way of initial public offer orfurther public offer (Including debit instruments) or way of term loans during the yearand hence relative reporting requirements under clause 3(ix) of the order are notcommented upon.

x. During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practises in India andaccording to the information and explanations given to us we have neither come across anyinstance of fraud on or by the Company by its officers or employees noticed or reportedduring the year not have we been informed of such case by the Management.

xi. According to our examination of the books and records of the Company and theinformation and explanations given to us the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with schedule v to the Act.

xii. According to the information and explanations given to us the Company is not aNidhi company.

xiii. According to our examination of the books and records of the Company and theinformation and explanations given to us transactions with the related parties are incompliance with Section

177 and 188 of the Act and the details of such transactions have been disclosed in Note33 to the

Financial Statements as required by the applicable accounting standards.

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

xv. According to our examination of the books and records of the Company and theinformation and explanations given to us the Company has not entered into non -cashtransactions with directors or persons connected with him.

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

Act 1934.

For MRC Et ASSOCIATES

Chartered Accountants

G. CHIRANJEEVULU FCA

Partner

Membership. No.215032

Firm Registration No. 004005S

Place : Chennai

Date : 28.05.2018

ANNEXURE-B TO THE INDEPENDENT AUDITORS' REPORT

Annexure referred to in paragraph 2(f) under the heading "Report on other Legaland

Regulatory Requirements" of our report of even date

Report on the Internal Financial Controls under Clause (i) of Sub -section 3 of Section143 of the

Act

We have audited the internal financial reporting of the Company as of 31 March 2018 inconjunction with our audit of the Ind AS financial statements of the Company for the yearended 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 Reporting (the "Guidance Note")issued by the Institute of Chartered Accountants of India ("the ICAI"). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Act.

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 and the

Standards on Auditing both issued by ICAI and deemed to the prescribed under section143(10) of the Act to the extent applicable to an audit of internal financial controls.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.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe 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 judgement including the assessment of the risks ofmaterial misstatement of the Ind AS financial statements whether 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 Ind AS 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 accuracy and fairly reflect thetransactions are recorded as necessary to permit preparation of Ind AS financialexpenditures of the company are being made only in accordance with authorisationsregarding prevention of timely detection of unauthorised acquisition use or dispositionof the

Company's assets that could have a material effect on the Ind AS 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 evaluations 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 on the achievement of the objectives of the control criteria theCompany has in all material respects an adequate internal financial controls system overfinancial reporting were operating effectively as at 31 March 2018 based on the internalcontrol over financial reporting criteria established by the Company considering theessential components of internal control stated in the Guidance Note.

For MRC Et ASSOCIATES

Chartered Accountants

G. CHIRANJEEVULU FCA

Partner

Membership. No.215032

Firm Registration No. 004005S

Place : Chennai

Date : 28.05.2018