You are here » Home » Companies » Company Overview » Hawa Engineers Ltd

Hawa Engineers Ltd.

BSE: 539176 Sector: Engineering
NSE: N.A. ISIN Code: INE230I01018
BSE 00:00 | 01 Jul 53.00 0
(0.00%)
OPEN

53.00

HIGH

53.00

LOW

53.00

NSE 05:30 | 01 Jan Hawa Engineers Ltd
OPEN 53.00
PREVIOUS CLOSE 53.00
VOLUME 50
52-Week high 58.60
52-Week low 38.00
P/E 16.93
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 53.00
CLOSE 53.00
VOLUME 50
52-Week high 58.60
52-Week low 38.00
P/E 16.93
Mkt Cap.(Rs cr) 19
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Hawa Engineers Ltd. (HAWAENGINEERS) - Auditors Report

Company auditors report

To

The Members of

HAWA ENGINEERS LIMITED

Report on the Audit of the Standalone Financial Statements Opinion:

We have audited the accompanying standalone financial statements of HAWA EngineersLimited ("the Company") which comprise of the Standalone Balance Sheet as atMarch 31 2021 the Standalone Statement of Profit and Loss (including other comprehensiveincome) Standalone Statement of Changes in Equity and Standalone Statement of Cash Flowsfor the year then ended and notes to the standalone financial statements including asummary of the significant accounting policies and other explanatory information(hereinafter referred to as "standalone financial statements").

In our opinion and to the best of our information and according to the explanationsgiven to us by management of the company the aforesaid standalone financial statementsgive the information required by the Companies Act 2013 ("the Act") in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at March31 2021 and profit & other comprehensive income changes in equity and its cashflows for the year ended on that date.

Basis for Opinion:

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder: Section 143(10) of the Act. Our responsibilities under those SAs are furtherdescribed in the Auditor's Responsibilities for the Audit of the Standalone FinancialStatements section of our report. We are independent of the Company in accordance with theCode of Ethic s issued by the Institute of Chartered Accountants of India together withthe ethical requirements that are relevant to our audit of the standalone financialstatements under the provisions of the Act and the Rules thereunder and we have fulfilledour other ethical responsibilities in accordance with these requirements and the Code ofEthics. We believe that the audit evidence we have obtained is sufficient and appropriateto provide a basis for our opinion on the standalone financial statements.

Other Information:

The Company's management and Board of Directors are responsible for the otherinformation. The other information comprises the information included in the Company'sannual report but does not include the financial statements and our auditors' reportthereon.

Our opinion on the standalone financial statements does not cover the other informationand we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements our responsibilityis to read the other information and in doing so consider whether the other informationis materially inconsistent with the standalone financial statements or our knowledgeobtained in the audit or otherwise appears to be materially misstated. If based on thework we have performed we conclude that there is a material misstatement of this otherinformation we are required to report that fact. We have nothing to report in thisregard.

Management's and Board of Directors' Responsibility for the Standalone FinancialStatements:

The Company's management and Board of Directors are responsible for the matters statedin Section 134(5) of the Act with respect to the preparation of these standalone financialstatements that give a true and fair view of the state of affairs profit and othercomprehensive income changes in equity and cash flows of the Company in accordance withthe accounting principles generally accepted in India including the Indian

Accounting Standards (Ind AS) specified under Section 133 of the Act. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring accuracy and completeness of the accounting recordsrelevant to the preparation and presentation of the standalone financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

In preparing the standalone financial statements the management and Board of Directorsare responsible for assessing the Company's ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless Board of Directors either intends to liquidate the Company orto cease operations or has no realistic alternative but to do so.

Board of Directors is also responsible for overseeing the Company's financial reportingprocess.

Auditor's Responsibilities for the Audit of the Standalone Financial Statements:

Our objectives are to obtain reasonable assurance about whether the standalonefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a 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 statements.

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 the standalone financial statements whetherdue to fraud or error design and perform audit procedures responsive to those risks andobtain audit evidence that is sufficient and appropriate to provide a basis for ouropinion. The risk of not detecting a material misstatement resulting from fraud is higherthan for one resulting from error as fraud may involve collusion forgery intentionalomissions misrepresentations or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order todesign audit Procedure that are appropriate in the circumstances. Under section 143(3) (i)of the Act we are also responsible for expressing our opinion on whether the Company hasadequate Internal financial controls with reference to financial statements in place andthe operating effectiveness of such controls

• Evaluate the appropriateness of accounting policies used and the reasonablenessof Accounting estimates and related disclosures in the standalone financial statementsmade by Management and Board of Directors.

• Conclude on the appropriateness of management and Board of Directors use of thegoing Concern basis accounting and based on the audit evidence obtained whether amaterial uncertainty exists related to events or condition that may cast significant doubton the Company'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 standalone financial statements or if such disclosures areinadequate to modify our opinion. Our Conclusions are based on the audit evidenceobtained up to the date of our auditor's report. However further events or conditions maycause the company to cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the standalonefinancial statements Including the disclosures and whether the standalone financialstatements represent the Underlying transactions and events in a manner that achieves fairpresentation.

• We communicate with those charged with governance regarding among othermatters the planned scope and timing of the audit and significant audit findingsincluding any significant de_ciencies in internal control that we identify during ouraudit.

• We also provide those charged with governance with a statement that we havecomplied with relevant ethical requirements regarding independence and to communicatewith them all relationships and other matters that may reasonably be thought to bear onour independence and where applicable related safeguards.

• From the matters communicated with those charged with governance we determinethose matters that were of most Significance in the audit of the standalone financialstatements of the current period and are therefore the key audit matters. We describethese matters in our auditors' report unless law or regulation precludes public disclosureabout the matter or when in extremely rare circumstances we determine that a mattershould not be communicated in our report because the adverse consequences of doing sowould reasonably be expected to outweigh the public interest benefits of suchcommunication.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditors' Report) Order 2016 ("the Order")issued by the Central Government in terms of Section 143 (11) of the Act we give in 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 sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purposes of our audit. b) In our opinion proper books ofaccount as required by law have been kept by the Company so far as it appears from ourexamination of those books. c) The Standalone Balance Sheet the Standalone Statement ofProfit and Loss (including other comprehensive income) the Standalone Statement ofChanges in Equity and the Standalone Statement of Cash Flows dealt with by this Report arein agreement with the books of account. d) In our opinion the aforesaid standalonefinancial statements comply with the Ind AS specified under section 133 of the Act. e) Onthe basis of the written representations received from the directors as on March 31 2021taken on record by the Board of Directors none of the directors is disqualified as onMarch 31 2021 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 with reference tofinancial statements of the Company and the operating effectiveness of such controlsrefer to our separate report in "Annexure-B".

For N.M.Pathak & Co
Chartered Accountants
(FRN : 107786W)
Nitin M Pathak
Proprietor
Place:Ahmedabad Membership No. : 04-037802
Date :25th June 2021 UDIN: 21037802AAAACM5157

ANNEXURE - A TO THE INDEPENDENT AUDITORS' REPORT ON STANDALONE FINANCIAL STATEMENTS– YEAR ENDED MARCH 31 2021

(Referred to in Paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements' section of our report of even date) (i) (a) The Company has maintainedproper records showing full particulars including quantitative details and situation ofproperty plant and equipment and investment properties.

(b) The Company has a programme of physical verification of its property plant andequipment and investment properties by which all the items are verified in a phased mannerover a period of three years. In our opinion this periodicity of physical verification isreasonable having regard to the size of the Company and the nature of its assets. Inaccordance with the policy the Company has physically verified certain property plantand equipment during the year and the discrepancies were not material and have beenproperly dealt with in the books of account.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable propertiesincluded in property plant and equipment as disclosed in the standalone financialstatements are held in the name of the Company.

(ii) The inventory except goods-in-transit has been physically verified by themanagement during the year. In our opinion the frequency of such verification isreasonable. The discrepancies noticed on verification between the physical stocks and thebook records were not material and have been properly dealt with in the books of account.

(iii) In our opinion and according to the information and explanations given to us theCompany has not given any loans or provided any guarantees or security to the partiescovered under Section 185 of the Act. Accordingly compliance under Section 185 of the Actis not applicable to the Company. According to the information and explanations given tous the Company has complied with the provisions of Section 186 of the Act in respect ofthe loans given and investment made.

(iv) In our opinion and according to the information and explanations given to us theCompany has not accepted deposits as per the directives issued by the Reserve Bank ofIndia and the provisions of Sections 73 to 76 or any other relevant provisions of the Actand the rules framed thereunder. Accordingly paragraph 3 (v) of the Order is notapplicable to the Company.

(v) We have broadly reviewed the books of accounts maintained by the Company pursuantto the rules prescribed by the Central Government for the maintenance of cost recordsunder Section 148(1) of the Act and are of the opinion that prima-facie the prescribedaccounts and records have been made and maintained. However we have not made a detailedexamination of the cost records with a view to determine whether they are accurate orcomplete.

(vi) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted / accrued in the books ofaccount in respect of undisputed statutory dues including Provident fund Employees' stateinsurance Income Tax Customs Duty Goods and Services Tax and other material statutorydues as applicable to the Company have been generally regularly deposited during the yearby the Company with the appropriate authorities except in the case of Goods and ServicesTax where there have been a few delays. The Company is not having any dues in respect ofCess.

According to the information and explanations given to us no undisputed amountspayable in respect of Employees' state insurance Income Tax Customs Duty Goods andServices Tax cess and other material statutory dues were in arrears as at March 31 2021for a period of more than six months from the date they became payable. In respect ofProvident Fund as explained in Note 41 to the standalone financial statements pendingclarity on the matter the Company is currently unable to determine the extent of arrearsof such Provident Fund outstanding as at March 31 2021 for a period of more than sixmonths from the date they become payable and hence we are unable to comment on suchProvident Fund arrears if any.

(b) According to the information and explanations given to us there are no dues ofIncome Tax Sales Tax Service Tax Customs Duty Excise Duty and Goods and Services Taxas at March 31 2021 which have not been deposited with the appropriate authorities onaccount of any dispute. (vii) In our opinion and according to the information andexplanations given to us the Company has not defaulted in repayment of loans andborrowings to the banks financial institutions and dues to debenture holders during theyear. The Company did not have any outstanding loans and borrowings to Government duringthe year.

(viii) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not raised any moneys by way ofinitial public offer or further public offer (including debt instruments) during the year.In our opinion and according to the information and explanations given to us no termloans were taken by the Company during the year. (ix) During the course of our examinationof the books and records of the Company carried out in accordance with the generallyaccepted auditing practices in India and according to the information and explanationsgiven to us we have neither come across any instance of material fraud by the Company oron the Company by its officers or employees noticed or reported during the year nor havewe been informed of any such case by the Company's management.

(x) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has paid / accrued for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofSection 197 read with Schedule V to the Act (xi) In our opinion and according to theinformation and explanations given to us the Company is not a Nidhi company. Accordinglyparagraph 3 (xii) of the Order is not applicable to the Company.

(xii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with Sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the standalone financial statements as required by theapplicable Ind AS.

(xiii) 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 to the Company.

(xiv) 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 any non-cashtransactions within the meaning of section 192 of the Act with directors or personsconnected with them. Accordingly paragraph 3 (xv) of the Order is not applicable to theCompany.

(xv) In our opinion and according to the information and explanations given to us theCompany is not required to be registered under Section 45-IA of the Reserve Bank of IndiaAct 1934. Accordingly paragraph 3 (xvi) of the Order is not applicable to the Company.

For N.M.Pathak & Co
Chartered Accountants
(FRN : 107786W)
Nitin M Pathak
Proprietor
Place:Ahmedabad Membership No. : 04-037802
Date :25th June 2021 UDIN: 21037802AAAACM5157

Annexure Bfitofithe Independent Auditors' Report

Report on the Internal Financial Controls under Clause (i) of Subsection 3 of Section143 of the Companies Act 2013 ("the Act") Opinion

We have audited the internal financial controls over financial reporting of HawaEngineers Ltd. ("the Company") as of 31 March 2021 in conjunction with our auditoffithe standalone financial statements of the Company forfithe year ended onfithat 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 statedinfithe Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued byfithe Institute of Chartered Accountants of India (‘ICAI'). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating e ectively for ensuring the orderly and e cientconduct of its business including adherencefito company's policiesfithe safeguarding ofits assetsfithe prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation offireliable financialinformation asfirequired underfithe Companies Act 2013.

Auditors' Responsibility

Our responsibility is toflexpress an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewithfithe Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to theflextentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all materialfirespects. Our auditinvolves performing proceduresfito obtain audit evidence aboutfithe adequacy offitheinternal financial controls system over financialfireporting andfitheir operating eectiveness. 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 onfithe auditor's judgment includingfithe assessment offithe risks ofmaterial misstatement offithe financial statements whether duefito fraud or error. Webelievefithatfithe audit evidence we have obtained is sufficient and appropriatefitoprovide a basis for our audit opinion onfithe Company's internal financial controls systemover financialfireporting.

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 financialfireporting includesfithosepolicies and procedures that (1) pertain to the maintenance of records that in reasonabledetail accurately and fairly reflect the transactions and dispositions of the assets ofthe 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 authorizations of management and directors of the company; and (3) providereasonable assurance regarding prevention or timely detection of unauthorized acquisitionuse or disposition of the company's assets that could have a material effect on thefinancial 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 evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financialfireporting may become inadequate because of changes in conditions orthatfithe degree of compliance withfithe policies or procedures may deteriorate.

Opinion

In our opinionfithe Company has in all materialfirespects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31st March 2021 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 byfithe Institute of CharteredAccountants of India.

For N.M.Pathak & Co
Chartered Accountants
(FRN : 107786W)
Nitin M Pathak
Proprietor
Place:Ahmedabad Membership No. : 04-037802
Date :25th June 2021 UDIN: 21037802AAAACM5157

.