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Dynavision Ltd.

BSE: 517238 Sector: Consumer
NSE: N.A. ISIN Code: INE083E01010
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NSE 05:30 | 01 Jan Dynavision Ltd
OPEN 66.25
PREVIOUS CLOSE 66.25
VOLUME 250
52-Week high 85.00
52-Week low 49.90
P/E 5.39
Mkt Cap.(Rs cr) 25
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 66.25
CLOSE 66.25
VOLUME 250
52-Week high 85.00
52-Week low 49.90
P/E 5.39
Mkt Cap.(Rs cr) 25
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dynavision Ltd. (DYNAVISION) - Auditors Report

Company auditors report

FOR THE YEAR ENDED 31ST MARCH 2018

TO THE MEMBERS OF DYNAVISION LIMITED

Report on the Standalone Indian Accounting Standards (Ind AS) Financial Statements

We have audited the accompanying Standalone

Ind AS Financial Statements of DYNAVISION

LIMITED ("The Company") which comprises the Balance Sheet as at 31 March2018 the Statement of Profit and Loss (including Other Comprehensive

Income) the Cash Flow Statement the Statement of Changes in Equity for the year thenended and a summary of Significant other explanatory information.

Management's Responsibility for the Standalone Ind AS 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 andpresentation of these Standalone

Ind AS Financial Statements that give a true and fair view of the financial positionfinancial performance including Other Comprehensive Income cash flows and Changes inEquity of the Company in accordance with the accounting principles generally accepted inIndia including the Indian Accounting

Standards (Ind AS) specified in the Companies

(Indian Accounting Standards) Rules 2015 (as amended) under Section 133 of the Act.

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 Standalone IndAS Financial Statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these Standalone Ind AS FinancialStatements based 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. We conductedour audit of the Standalone Ind AS Financial Statements in accordance with 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 Standalone Ind AS Financial Statements are freefrom material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the Standalone Ind AS Financial Statements. The procedures selecteddepend on the Auditor's judgment including the assessment of the risks of materialmisstatement of the Standalone Ind AS Financial Statements whether due to fraud or error.In making those risk assessments the auditor considers internal financial controlrelevant to the

Company's preparation of the Standalone Ind AS Financial Statements that give a trueand fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by the Company'sDirectors as well as evaluating the overall presentation of the Standalone Ind ASFinancial statements.

We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the Standalone Ind AS Financial Statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Standalone Ind AS Financial Statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India of the state of affairs of theCompany as at 31 March 2018 and its profit Total Comprehensive Income its cash flows andthe Changes in Equity for the year ended on that date.

Other Matters

The comparative financial information of the Company for the year ended 31st March 2017and the transition date opening Balance Sheet as at 1st April 2016 included in theseStandalone Ind AS Financial Statements are based on the statutory financial statementsprepared in accordance with the Companies (Accounting Standards) Rules 2006 (as amended)audited by the previous auditors whose report for the year ended 31st March 2017 and 31stMarch 2016 dated 22nd May 2017 and 27th May 2016 respectively expressed an unmodifiedopinion on those Standalone Financial Statements. The adjustments to those financialstatements for the differences in the accounting principles adopted by the Company ontransition to the Ind AS have been audited by us.

Our opinion on the Standalone Ind AS Financial Statements and our report on Other Legaland Regulatory Requirements below is not modified in respect of these matters.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Act based on our audit we report to theextent applicable 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 including Other ComprehensiveIncome the Cash Flow Statement and Statement of

Changes in Equity dealt with by this report are in agreement with the books of account.

(d) In our opinion the aforesaid Standalone Ind AS Financial Statements comply withthe

Indian Accounting Standards prescribed under Section133 of the Act.

(e) On the basis of the written representations received from the Directors as on 31stMarch

2018 and taken on record by the Board of Directors none of the Directors isdisqualified as on 31st March 2018 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 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 and Auditors) Rules 2014 as amended inour opinion and to the best of our information and according to the explanations given tous:

i) The Company has no pending litigations as on

31st March 2018 and accordingly disclosing the impact of the same on its financialposition in its Standalone Ind AS Financial Statements does not arise.

ii) The Company did not have any long-term contracts including derivative contractsthat requires a provision for material foreseeable losses in these financial statements;and iii) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

2. 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 "B" a statement on the matters specified in the

Paragraphs 3 and 4 of the Order to the extent applicable.

For R. Subramanian And Company LLP
Chartered Accountants
Firm Registration Number: 004137S/S200041
R Prakash
Place : Chennai Partner
Date :25th May 2018 M.No: 205869

Annexure "A" to The Independent Auditor's Report of even date on theStandalone Ind AS Financial Statements of Dynavision Limited Report on the InternalFinancial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act2013 ("the Act")

We have audited the Internal Financial Controls Over Financial Reporting of DynavisionLimited ("the Company") as of March 31 2018 in conjunction with our audit ofthe Standalone Ind AS 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 considering the essential components of Internal Control stated in theGuidance Note on

Audit of Internal Financial Controls Over Financial Reporting issued by the Instituteof Chartered Accountants of India (ICAI). These responsibilities include the designimplementation and maintenance of adequate internal financial controls that were operatingeffectively for ensuring the orderly and efficient conduct of its business includingadherence to Company's policies the safeguarding of its assets the prevention anddetection of frauds and errors the accuracy and completeness of the accounting recordsand the timely preparation of reliable financial information as required under the

Companies Act 2013.

Auditor's 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 "GuidanceNote") and the Standards on Auditing issued by ICAI and deemed to be prescribedunder Section 143(10) of the Companies Act 2013 to the extent applicable to an audit ofinternal financial controls both applicable to an audit of Internal Financial Controlsand both issued by the Institute of Chartered Accountants of India. 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 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 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:

(i) pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(ii) 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

(iii) 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

Because of the inherent limitations of Internal

Financial Controls Over Financial Reporting including the possibility of collusion orimproper management override of controls material misstatements due to error or fraud mayoccur and not be detected. Also projections of any evaluation of the Internal FinancialControls Over Financial Reporting to future periods are subject to the risk that theinternal financial control over financial reporting may become inadequate because ofchanges in conditions or that the degree of compliance with the policies or proceduresmay deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate InternalFinancial Controls with reference to financial statements and such Internal FinancialControls Over Financial Reporting were operating effectively as at March 31 2018 basedon the Internal Control Over Financial Reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India.

For R. Subramanian And Company LLP
Chartered Accountants
Firm Registration Number: 004137S/S200041
R Prakash
Place : Chennai Partner
Date :25th May 2018 M.No: 205869

Annexure "B" to the Independent Auditors' Report of even date on theStandalone Ind AS Financial Statements of Dynavision Limited. The Annexure referred to inParagraph 2 under the heading "Report on Other Legal and RegulatoryRequirements" of our Report of even date:

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

(b) These fixed assets have been physically verified by the Management at reasonableintervals and no material discrepancies were noticed on such verification.

(c) The title deeds of immovable properties are held in the name of the Company.

(ii) The Company does not have inventory of goods hence the provisions of Para 4(ii)of the Companies (Auditors Report) order 2016 are not applicable to this company.

(iii) The Company has not granted any loans to any party covered in the registermaintained under section 189 of the Companies Act 2013. (iv) According to the informationand explanations given to us the company does not have any loans investmentsguarantees and security which are subject to the provisions of Sections 185 and 186 ofthe Companies Act 2013. Therefore the provisions of Para 4(iv) of the Companies (AuditorsReport) order 2016 are not applicable to this company.

(v) The Company has not accepted any deposits from the public.

(vi) As explained to us and based on the information and explanation provided to us theCentral Government has not prescribed maintenance of Cost records under Subsection (1) ofSection 148 of the Companies Act 2013.

(vii) According to the information and explanations given to us in respect of statutorydues:

(a) The Company is regular in depositing undisputed statutory dues including ProvidentFund Income Tax Service Tax Goods and Service Tax Value Added Tax Cess and any otherStatutory

Dues applicable to it to the appropriate authorities and there were no undisputedamounts payable which were in arrears as at 31st March 2018 for a period of more than sixmonths from the date they became payable.

(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 Goods andService tax Value added tax and cess and other dues applicable to it which have not beendeposited on account of any dispute as at 31st March 2018 (viii) The Company has notdefaulted in repayment of loans or borrowing to a financial institution bank Governmentor dues to debenture holders.

(ix) The Company has not raised any moneys by way of initial public offer or furtherpublic offer (including debt instruments) during the year. (x) The Company has not noticedany fraud by the Company or any fraud on the Company by its Officers or employees orreported during the year.

(xi) The managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act.

(xii) The Company is not a Nidhi Company and hence complying with the provisions of theNidhi Rules 2014 does not arise.

(xiii) All transactions with the related parties are in compliance with Sections 177and 188 of Companies Act 2013 where applicable and the details have been disclosed inthe Ind AS Standalone Financial Statements etc. as required by the applicable IndianAccounting Standards.

(xiv) The Company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review.

(xv) The Company has not entered into any non-cash transactions with Directors orpersons connected to it's directors.

(xvi) The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934.

For R. Subramanian And Company LLP
Chartered Accountants
Firm Registration Number: 004137S/S200041
R Prakash
Place : Chennai Partner
Date :25th May 2018 M.No: 205869