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Dynamic Microsteppers Ltd.

BSE: 531330 Sector: Others
NSE: N.A. ISIN Code: INE443N01017
BSE 00:00 | 24 Feb Dynamic Microsteppers Ltd
NSE 05:30 | 01 Jan Dynamic Microsteppers Ltd
OPEN 6.67
PREVIOUS CLOSE 6.67
VOLUME 100
52-Week high 6.67
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 6.05
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.67
CLOSE 6.67
VOLUME 100
52-Week high 6.67
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 2
Buy Price 6.05
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00

Dynamic Microsteppers Ltd. (DYNAMICMICRO) - Auditors Report

Company auditors report

To

The Members of-

DYNAMIC MICROSTEPPERS LIMITED

MUMBAI.

" AUDITORS' REPORT "

Report on Financial Statements

We have audited the accompanying financial statements of DYNAMIC MICROSTEPPERSLIMITED ("the Company") which comprise the Balance Sheet as at 31stMarch 2020 and the Statement of Profit and Loss and the Cash Flow Statement for the yearended and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Director is responsible for the matters stated in Section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesestandalone financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the IndianAccounting Standards (Ind AS) prescribed under Section 133 of the Act read with theCompanies (Indian Accounting Standards) Rules 2015 as amended and other accountingprinciples generally accepted in India. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting frauds & otherirregularities selection & application of appropriate accounting policies makingjudgments & estimates that are reasonable & 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.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

In conducting our audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made there under and the Orderissued under section 143(11) of the Act.

We conducted our audit in accordance with the Standards on Auditing specified u/s143(10) of the Act. Those Standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the financialstatements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of 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 preparation of thefinancial statements that give a true & 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 accounting policies used and the reasonablenessof the accounting estimates made by the Company's Directors as well as evaluating theoverall presentation of 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 standalone 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 March 312020 and its profit for the year ended on that date;

Report on Other Legal & 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 Section 143(11) of the Act we givein the "Annexure A" a statement on the matters specified in paragraphs 3 and 4of the Order to the extent applicable.

2. As required by section 143(3) of the Act we report that:

a) We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purpose 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 and 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 Balance Sheet and Statement of Profit and Loss comply with theIndian Accounting Standards prescribed under section 133 of the Act;

e) On the basis of written representations received from the directors of the Companyas on March 31 2020 and taken on record by the Board of Directors none of the directorsis disqualified as on March 31 2020 from being appointed as a director in terms ofsection 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 A". Our report expresses an unmodified opinion onthe adequacy and operating effectiveness of the Company's internal financial controls overfinancial reporting.

g) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit & Auditors) Rules 2014 as amendedin our opinion and to the best of our information and according to the explanations givento 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 derivative contractsfor which there were any material foreseeable losses.

iii. There were no amount required to be transferred to the Investor Education andProtection Fund by the Company.

For: P.JASANI & ASSOCIATES
[Chartered Accountants]
FRN:-116628W
P.R. JASANI (Partner)
Mem. No. 032477
Place : MUMBAI
Date : 29.06.2020

Annexure "A" To The Independent Auditor's Report

(Referred to in paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements' of our Report of even date)

1 (a) The Company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) The Fixed Assets have been physically verified by the Management at reasonableintervals; any material discrepancies noticed on such verification have been properlydealt with in the Books of Accounts;

(c) According to the information and explanations given to us and on the basis of our

(i) Examination of Original Agreement for Plot No 24 alongwith Factory Premises

(ii) Examination of Xerox Copies of Agreement for Leasehold Plot bearing Plot No W-6Aat Additional Dhule Industrial Estate Village Laling Dhule

(iii) Examination of Xerox Copies of Agreement for Freehold Plot bearing Plot No TPS 7Final Plot No 37A Industrial Estate Dhule the title deeds of immovable properties areheld in the name of the Company.

2 The Company does not have any inventory & hence para 3(ii) of the Order would notbe applicable to the Company.

3 The Company has not granted any Loans to Parties mentioned in the Register maintainedunder Section 189 of The Companies Act' 2013.

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 in respect ofgrant of loans making investments and providing guarantees and securities as applicable

5 According to the information and explanations given to us the Company has notaccepted any deposit from the public and accordingly paragraph 3(v) of the Order is notapplicable.

6 The maintenance of cost records has not been prescribed by the Central Governmentunder sub-section (1) of section 148 of the Act. Thus reporting under clause 3(vi) of theorder is not applicable to the Company.

7 (a) According to the information and explanations given to us and based on therecords of the company examined by us the company is regular in depositing undisputedstatutory dues including Provident Fund Income Tax Sales Tax Service Tax Custom Dutyand other statutory dues as applicable with the appropriate authorities in India.

(b) According to the information and explanations given to us and based on the recordsof the company examined by us there are no dues of Income Tax Service Tax Sales Tax andCustom Duty which have not been deposited on account of any disputes.

8 The Company does not have any loans or borrowings from any Financial InstitutionBanks Government or Debenture Holders during the year. Accordingly paragraph 3(viii) ofthe Order is not applicable.

9. The Company did not raise any money by way of initial public offer or further publicoffer (including debt instruments) and term loans during the year. Accordingly paragraph3{ix) of the Order is not applicable.

10. According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

11 According to the information and explanations given to us the Company has not paidmanagerial remuneration. Accordingly paragraph 3(xi) of the Order is not applicable.

12. In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

13. According to the information and explanations given to us and based on ourexamination of the records of the Company there are no transactions with the relatedparties as referred to in sections 177 & 188 of the Act. Accordingly paragraph3(xiii) of the Order is not applicable.

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 paragraph 3(xiv) of the Order is not applicable.

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 non cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

16. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934. Accordingly paragraph 3(xvi) of the Order is not applicable.

For: P. JASANI & ASSOCIATES
[Chartered Accountants]
FRN # 116628W /
P R. JASANI(Partner)
Mem. No. 032477
Place : MUMBAI
Date : 29.06.2020

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