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Hardwyn India Ltd.

BSE: 541276 Sector: Others
NSE: N.A. ISIN Code: INE626Z01011
BSE 00:00 | 28 Jul 45.20 -2.05
(-4.34%)
OPEN

45.50

HIGH

45.50

LOW

45.00

NSE 05:30 | 01 Jan Hardwyn India Ltd
OPEN 45.50
PREVIOUS CLOSE 47.25
VOLUME 7500
52-Week high 84.50
52-Week low 10.01
P/E 29.93
Mkt Cap.(Rs cr) 46
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 45.50
CLOSE 47.25
VOLUME 7500
52-Week high 84.50
52-Week low 10.01
P/E 29.93
Mkt Cap.(Rs cr) 46
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Hardwyn India Ltd. (HARDWYNINDIA) - Auditors Report

Company auditors report

TO THE BOARD OF DIRECTORS OF HARDWYN INDIA LIMITED

(Formerly known as Garv Industries Limited)

Report on the audit of the Standalone Financial Results Opinion

We have audited the accompanying standalone half yearly financial results of"HARDWYN INDIA LIMITED" (the company) for the half year ended 31st March2020 and the year to date results for the period from April 1 2019 to March 31 2020attached herewith being submitted by the company pursuant to the requirement ofRegulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanationsgiven to us these standalone financial results:

i. are presented in accordance with the requirements of Regulation 33 of the ListingRegulations in this regard; and

ii. give a true and fair view in conformity with the recognition and measurementprinciples laid down in the applicable Indian Accounting Standards and other accountingprinciples generally accepted in India of the net profit and other comprehensive incomeand other financial information for the half year ended March 312020 as well as the yearto date results for the period from April 12019 to March 312020

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013 (the Act). Our responsibilities underthose Standards are further described in the Auditor's Responsibilities for the Audit ofthe Standalone Financial Results section of our report. We are independent of the Companyin accordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial results under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics.

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

Management's Responsibilities for the Standalone Financial Results

The Company's Board of Directors are responsible for the preparation of these financialresults that give a true and fair view of the net profit and other comprehensive incomeand other financial information in accordance with the recognition and measurementprinciples laid down in Indian Accounting Standard 34 ‘Interim Financial Reporting'prescribed under Section 133 of the Act read with relevant rules issued thereunder andother accounting principles generally accepted in India and in compliance with Regulation33 of the Listing Regulations.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone financial results that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the standalone financial results the Board of Directors are responsiblefor assessing the Company's ability to continue as a going concern disclosing asapplicable matters related to going concern and using the going concern basis ofaccounting unless the Board of Directors either intends to liquidate the Company or tocease operations or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financialreporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results.

Our objectives are to obtain reasonable assurance about whether the standalonefinancial results as a whole are free from material misstatement whether due to fraud orerror and to issue an auditor's report that includes our opinion. Reasonable assurance isa high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these standalone financial results.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

? Identify and assess the risks of material misstatement of the standalone financialresults whether due to fraud or error design and perform audit procedures responsive tothose risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

? Obtain an understanding of internal control relevant to the audit in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressingan opinion on the effectiveness of the company's internal control.

? Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by the Board of Directors.

? Conclude on the appropriateness of the Board of Directors' use of the going concernbasis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial results or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause the Companyto cease to continue as a going concern.

? Evaluate the overall presentation structure and content of the standalone financialresults including the disclosures and whether the financial results represent theunderlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

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