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Info Edge (India) Ltd.

BSE: 532777 Sector: Others
NSE: NAUKRI ISIN Code: INE663F01024
BSE 00:00 | 19 Jul 1299.00 -48.90
(-3.63%)
OPEN

1325.00

HIGH

1344.70

LOW

1286.35

NSE 00:00 | 19 Jul 1298.15 -51.05
(-3.78%)
OPEN

1323.85

HIGH

1339.00

LOW

1282.35

OPEN 1325.00
PREVIOUS CLOSE 1347.90
VOLUME 3530
52-Week high 1457.50
52-Week low 919.00
P/E 66.14
Mkt Cap.(Rs cr) 15,837
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1325.00
CLOSE 1347.90
VOLUME 3530
52-Week high 1457.50
52-Week low 919.00
P/E 66.14
Mkt Cap.(Rs cr) 15,837
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Info Edge (India) Ltd. (NAUKRI) - Auditors Report

Company auditors report

To the members of info edge (india) limited

Report on the standalone indian accounting standards (ind as) financialstatements

1. We have audited the accompanying standalone financial statements ofinfo edge (india) limited ("the company") which comprise the balance sheet asat march 31 2017 the statement of profit and loss (including other comprehensiveincome) the cash flow statement and the statement of changes in equity for the year thenended and a summary of the significant accounting policies and other explanatoryinformation.

Management's responsibility for the standalone ind as financialstatements

2. The company's board of directors is responsible for the mattersstated in section 134(5) of the companies act 2013 ("the act") with respect tothe preparation of these standalone ind as financial statements to give a true and fairview of the financial position financial performance (including other comprehensiveincome) cash flows and changes in equity of the company in accordance with the accountingprinciples generally accepted in india including the indian accounting standardsspecified in the companies (indian accounting standards) rules 2015 (as amended) undersection 133 of the act. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the act for safeguarding of theassets of the company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the standalone ind as financial statements that give a true and fair viewand are free from material misstatement whether due to fraud or error.

Auditors' responsibility

3. Our responsibility is to express an opinion on these standalone indas financial statements based on our audit.

4. We have taken into account the provisions of the act and the rulesmade thereunder including the accounting and auditing standards and matters which arerequired to be included in the audit report under the provisions of the act and the rulesmade thereunder.

5. We conducted our audit of the standalone ind as financial statementsin accordance with the standards on auditing specified under section 143(10) of the actand other applicable authoritative pronouncements issued by the institute of charteredaccountants of india. Those standards and pronouncements require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the standalone ind as financial statements are free from material misstatement.

6. An audit involves performing procedures to obtain audit evidenceabout the amounts and the disclosures in the standalone ind as financial statements. Theprocedures selected depend on the auditors' judgment including the assessment of therisks of material misstatement of the standalone ind as financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the company's preparation of the standalone ind asfinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the company's directors as well as evaluating the overallpresentation of the standalone ind as financial statements.

7. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our audit opinion on the standalone ind asfinancial statements.

Opinion

8. In our opinion and to the best of our information and according tothe explanations given to us the aforesaid standalone ind as financial statements givethe information required by the act in the manner so required and give a true and fairview in conformity with the accounting principles generally accepted in india of thestate of affairs of the company as at march 31 2017 and its total comprehensive income(comprising of profit and other comprehensive income its cash flows and the changes inequity for the year ended on that date.

Other matter

9. The financial information of the company for the year ended march31 2016 and the transition date opening balance sheet as at april 1 2015 included inthese standalone ind as financial statements are based on the previously issued statutoryfinancial statements for the years ended march 31 2016 and march 31 2015 prepared inaccordance with the companies (accounting standards) rules 2006 (as amended) which wereaudited by us on which we

Expressed an unmodified opinion dated may 25 2016 and may 29 2015respectively. The adjustments to those financial statements for the differences inaccounting principles adopted by the company on transition to the ind as have been auditedby us.

Our opinion is not qualified in respect of these matters.

Report on other legal and regulatory requirements

10. As required by the companies (auditor's report) order 2016issued by the central government of india in terms of sub-section (11) of section 143 ofthe act ("the order") and on the basis of such checks of the books and recordsof the company as we considered appropriate and according to the information andexplanations given to us we give in the annexure b a statement on the matters specifiedin paragraphs 3 and 4 of the order.

11. As required by section 143 (3) of the act we report that:

(a) we have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

(b) in our opinion proper books of account as required by law havebeen kept by the company so far as it appears from our examination of those books.

(c) the balance sheet the statement of profit and loss (includingother comprehensive income) the cash flow statement and the statement of changes inequity dealt with by this report are in agreement with the books of account.

(d) in our opinion the aforesaid standalone ind as financialstatements comply with the indian accounting standards specified under section 133 of theact.

(e) on the basis of the written representations received from thedirectors as on march 31 2017 taken on record by the board of directors none of thedirectors is disqualified as on march 31 2017 from being appointed as a director in termsof section 164 (2) of the act.

(f) with respect to the adequacy of the internal financial controlsover financial reporting of the company and the operating effectiveness of such controlsrefer to our separate report in annexure a.

(g) with respect to the other matters to be included in theauditors' report in accordance with rule 11 of the companies (audit and auditors)rules 2014 in our opinion and to the best of our knowledge and belief and according tothe information and explanations given to us:

I. The company has disclosed the impact if any of pending litigationsas at march 31 2017 on its financial position in its standalone ind as financialstatements - refer note 27;

Ii. The company did not have any long-term contracts includingderivative contracts as at march 31 2017.

Iii. There has been no delay in transferring amounts required to betransferred to the investor education and protection fund by the company during the yearended march 31 2017.

Iv. The company has provided requisite disclosures in the financialstatements as to holdings as well as dealings in specified bank notes during the periodfrom november 8 2016 to december 30 2016. Based on audit procedures and relying on themanagement representation we report that the disclosures are in accordance with books ofaccount maintained by the company and as produced to us by the management - refer note 44.

For price waterhouse & co bangalore llp firm registration number:0007567s/s-200012 chartered accountants

Abhishek rara
Place: noida Partner
Date: may 29 2017 Membership number: 077779

Annexure a to independent auditors' report

Referred to in paragraph 11(f) of the independent auditors' reportof even date to the members of info edge (india) limited on the standalone financialstatements

For the year ended march 31 2017

Report on the internal financial controls under clause (i) ofsub-section 3 of section 143 of the act

1. We have audited the internal financial controls over financialreporting of info edge (india) limited ("the company") as of march 31 2017 inconjunction with our audit of the standalone financial statements of the company for theyear ended on that date.

Management's responsibility for internal financial controls

2. The company's management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the company considering the essential components ofinternal control stated in the guidance note on audit of internal financial controls overfinancial reporting issued by the institute of chartered accountants of india (icai).These responsibilities include the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the orderly andefficient conduct of its business including adherence to company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the act.

Auditors' responsibility

3. Our responsibility is to express an opinion on the company'sinternal financial controls over financial reporting based on our audit. We conducted ouraudit in accordance with the guidance note on audit of internal financial controls overfinancial reporting (the "guidance note") and the standards on auditing deemedto be prescribed under section 143(10) of the act to the extent applicable to an audit ofinternal financial controls both applicable to an audit of internal financial controlsand both issued by the icai. Those standards and the guidance note require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether adequate internal financial controls over financial reporting wasestablished and maintained and if such controls operated effectively in all materialrespects.

4. Our audit involves performing procedures to obtain audit evidenceabout the adequacy of the internal financial controls system over financial reporting andtheir operating effectiveness. Our audit of internal financial controls over financialreporting included obtaining an understanding of internal financial controls overfinancial reporting assessing the risk that a material weakness exists and testing andevaluating the design and operating effectiveness of internal control based on theassessed risk. The procedures selected depend on the auditor's judgement includingthe assessment of the risks of material misstatement of the financial statements whetherdue to fraud or error.

5. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our audit opinion on the company's internalfinancial controls system over financial reporting.

Meaning of internal financial controls over financial reporting

6. A company's internal financial control over financial reportingis a process designed to provide reasonable assurance regarding the reliability offinancial reporting and the preparation of financial statements for external purposes inaccordance with generally accepted accounting principles. A company's internalfinancial control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that in reasonable detail accurately and fairlyreflect the transactions and dispositions of the assets of the company; (2) providereasonable assurance that transactions are recorded as necessary to permit preparation offinancial statements in accordance with generally accepted accounting principles and thatreceipts and expenditures of the company are being made only in accordance withauthorisations of management and directors of the company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorised acquisition use ordisposition of the company's assets that could have a material effect on thefinancial statements.

Inherent limitations of internal financial controls over financialreporting

7. Because of the inherent limitations of internal financial controlsover financial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

8. In our opinion the company has in all material respects anadequate internal financial controls system over financial reporting and such internalfinancial controls over financial reporting were operating effectively as at march 312017 based on the internal control over financial reporting criteria established by thecompany considering the essential components of internal control stated in the guidancenote on audit of internal financial controls over financial reporting issued by theinstitute of chartered accountants of india.

For price waterhouse & co bangalore llp
Firm registration number: 0007567s/s-200012
Chartered accountants
Abhishek rara
Place: noida Partner
Date: may 29 2017 Membership number: 077779

Annexure b to independent auditors' report

Referred to in paragraph 10 of the independent auditors' report ofeven date to the members of info edge (india) limited on the standalone financialstatements

As of and for the year ended march 31 2017

I. (a) the company is maintaining proper records showing fullparticulars including quantitative details and situation of fixed assets.

(b) the fixed assets are physically verified by the managementaccording to a phased programme designed to cover all the items over a period of 3 yearswhich in our opinion is reasonable having regard to the size of the company and thenature of its assets. Pursuant to the programme a portion of the fixed assets has beenphysically verified by the management during the year and no material discrepancies havebeen noticed on such verification.

(c) the title deeds of immovable properties as disclosed in note 3 onfixed assets to the financial statements are held in the name of the company.

Ii. The company is in the business of rendering services andconsequently does not hold any inventory. Therefore the provisions of clause 3(ii) ofthe said order are not applicable to the company.

Iii. The company has granted unsecured loans to 2 companies covered inthe register maintained under section 189 of the act. There are no firms /llps/ otherparties covered in the register maintained under section 189 of the act.

(a) in respect of the aforesaid loans the terms and conditions underwhich such loans were granted are not prejudicial to the company's interest.

(b) in respect of the aforesaid loans the schedule of repayment ofprincipal and payment of interest has been stipulated and the parties are repaying theprincipal amounts as stipulated and are also regular in payment of interest asapplicable.

(c) in respect of the aforesaid loans there is no amount which isoverdue for more than ninety days.

Iv. In our opinion and according to the information and explanationsgiven to us the company has complied with the provisions of section 185 and 186 of thecompanies act 2013 in respect of the loans and investments made and guarantees andsecurity provided by it.

V. The company has not accepted any deposits from the public within themeaning of sections 73 74 75 and 76 of the act and the rules framed there under to theextent notified.

Vi. The central government of india has not specified the maintenanceof cost records under sub-section (1) of section 148 of the act for any of the products ofthe company.

Vii. (a) according to the information and explanations given to us andthe records of the company examined by us in our opinion the company is generally

Regular in depositing undisputed statutory dues in respect of incometax service tax and provident fund though there has been a slight delay in a few casesand is regular in depositing undisputed statutory dues including employees' stateinsurance sales tax duty of customs duty of excise value added tax cess and othermaterial statutory dues as applicable with the appropriate authorities.

(b) according to the information and explanations given to us and therecords of the company examined by us there are no dues of sales-tax duty of customsduty of excise value added tax which have not been deposited on account of any dispute.The particulars of dues of income tax and service tax as at march 31 2017 which have notbeen deposited on account of a dispute are as follows:

Name of the statute Nature of dues Amount under dispute Unpaid

Amount

Financial year Forum where the dispute is pending
Finance act 1994 Business support services advertisement services 27310388 21900520 2003-2012 Custom excise and service tax appellate tribunal
Finance act 1994 Wrong availment of cenvat credit 1290882 1290882 April 01 2010 to march 31 2011 Commissioner - service tax
Finance act 1994 Export of services provided to special economic zone (sez) 16671871 16671871 April 2012 to march 2013 Commissioner - service tax
Income tax act 1961 Depreciation on intangible assets 3961444 2004-2005 Cit (appeals)
Income tax act 1961 Depreciation on intangible assets 2270447 2005-2006 Cit (appeals)
Income tax act 1961 Depreciation on intangible assets 6608480 2771357 2006-2007 Ao/ cit (appeals)
Income tax act 1961 Disallowance of esop expenses disallowance u/s 14a 21707080 21707080 2010-2011 Income tax appellate tribunal
Name of the statute Nature of dues Amount under dispute Unpaid

Amount

Financial year Forum where the dispute is pending
Income tax act 1961 Disallowance u/s 14a disallowance of esop expenses fee paid to registrar of companies trademark expenses and stale cheques 14884030 14884030 2012-2013 Cit (appeals)
Income tax act 1961 Disallowance of esop expenses disallowance u/s 14a* 9044670 9044670 2013-14 Cit (appeals)*
Income tax act 1961 Computation made on presumptive basis 182271 sar 2008-13 Deputy director of the department of zakat and income tax

*intimation received subsequent to march 31 2017.

Viii. According to the records of the company examined by us and theinformation and explanation given to us the company has not defaulted in repayment ofloans or borrowings to any financial institution or bank or government or dues todebenture holders as at the balance sheet date.

Ix. The company has not raised any moneys by way of initial publicoffer further public offer (including debt instruments) and term loans. Accordingly theprovisions of clause 3(ix) of the order are not applicable to the company.

X. During the course of our examination of the books and records of thecompany carried out in accordance with the generally accepted auditing practices inindia and according to the information and explanations given to us we have neither comeacross any instance of material fraud by the company or on the company by its officers oremployees noticed or reported during the year nor have we been informed of any such caseby the management.

Xi. The company has paid/ provided for managerial remuneration inaccordance with the requisite approvals mandated by the provisions of section 197 readwith schedule v to the act.

Xii. As the company is not a nidhi company and the nidhi rules 2014are not applicable to it the provisions of clause 3(xii) of the order are not applicableto the company.

Xiii. The company has entered into transactions with related parties incompliance with the provisions of sections 177 and 188 of the act. The details of suchrelated party transactions have been disclosed in the financial statements as requiredunder indian accounting standard (ind as) 24 related party disclosures specified undersection 133 of the act read with rule 3 of the companies (indian accounting standards)rules 2015 as amended.

Xiv. The company had made a private placement of shares during the yearended march 31 2015 in compliance with the requirements of section 42 of the act. Theamounts raised have been used for the purpose for which funds were raised.

Xv. The company has not entered into any non-cash transactions with itsdirectors or persons connected with him. Accordingly the provisions of clause 3(xv) ofthe order are not applicable to the company.

Xvi. The company is not required to be registered under section 45-iaof the reserve bank of india act 1934. Accordingly the provisions of clause 3(xvi) ofthe order are not applicable to the company.

For price waterhouse & co bangalore llp
Firm registration number: 0007567s/s-200012
Chartered accountants
Abhishek rara
Place: noida Partner
Date: may 29 2017 Membership number: 077779