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Jupiter Infomedia Ltd.

BSE: 534623 Sector: Others
NSE: N.A. ISIN Code: INE524N01014
BSE 10:51 | 27 Sep 22.25 0.35
(1.60%)
OPEN

22.35

HIGH

22.40

LOW

21.10

NSE 05:30 | 01 Jan Jupiter Infomedia Ltd
OPEN 22.35
PREVIOUS CLOSE 21.90
VOLUME 2614
52-Week high 35.10
52-Week low 19.75
P/E 92.71
Mkt Cap.(Rs cr) 22
Buy Price 21.45
Buy Qty 308.00
Sell Price 22.25
Sell Qty 224.00
OPEN 22.35
CLOSE 21.90
VOLUME 2614
52-Week high 35.10
52-Week low 19.75
P/E 92.71
Mkt Cap.(Rs cr) 22
Buy Price 21.45
Buy Qty 308.00
Sell Price 22.25
Sell Qty 224.00

Jupiter Infomedia Ltd. (JUPITERINFO) - Auditors Report

Company auditors report

To the Members of Jupiter Infomedia Limited

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying Standalone Financial Statements of JupiterInfomedia Limited (“the Company”) which comprise the Balance Sheet as atMarch 31 2020 the Statement of Pro t and Loss (including Other Comprehensive Income)the Statement of Changes in Equity and the Statement of Cash Flows for the year ended onthat date and a summary of the significant accounting policies and other explanatoryinformation (hereinafter referred to as “the Standalone Financial Statements”).

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 Companies Act 2013 (“the Act”) in the manner so required and give a trueand fair view in conformity with the Indian Accounting Standards prescribed under section133 of the Act read with the Companies (Indian Accounting Standards) Rules 2015 asamended (“Ind AS”) and other accounting principles generally accepted in Indiaof the state of affairs of the Company as at March 31 2020 the loss and totalcomprehensive income changes in equity and its cash flows for the year ended on thatdate.

Basis for Opinion

We conducted our audit of the Standalone Financial Statements in accordance with theStandards on Auditing specified under section 143(10) of the Act (SAs). Ourresponsibilities under those Standards are further described in the Auditor'sResponsibilities for the Audit of the Standalone Financial Statements section of ourreport. We are independent of the Company in accordance with the Code of Ethics issued bythe Institute of Chartered Accountants of India (ICAI) together with the independencerequirements that are relevant to our audit of the Standalone Financial Statements underthe provisions of the Act and the Rules made thereunder and we have fulfilled our otherethical responsibilities in accordance with these requirements and the ICAI's Code ofEthics. We believe that the audit evidence we have obtained is sufficient and appropriateto provide a basis for our audit opinion on the Standalone Financial Statements.

Emphasis of Matter

We draw attention to Note 32 to the Standalone Financial Statements which describesthe economic disruption of the business activities the Company is facing as aresult ofCOVID-19 pandemic which is impacting demand for product financial markets price forproduct and inventory valuation.

Our Opinion is not modified in respect of this matter.

Key Audit Matters

Key audit matters ('KAM') are those matters that in our professional judgment were ofmost significance in our audit of the Standalone Financial Statements of the currentperiod. These matters were addressed in the context of our audit of the StandaloneFinancial Statements as a whole and in forming our opinion thereon and we do not providea separate opinion on these matters. We have determined the matters described below to bethe key audit matters to be communicated in our report.

We have determined that there are no key audit matters to communicate in our report.

Information Other than the Standalone Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the preparation of the otherinformation. The other information comprises the information included in the Annualreport but does not include the Standalone Ind AS Financial Statements and our auditor'sreport thereon.

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 during the course of our audit or otherwise appears to be materially misstated.

If based on the work we have performed we conclude that there is a materialmisstatement of this other information we are required to report that fact. We havenothing to report in this regard.

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters stated in section134(5) of the Act with respect to the preparation of these Standalone Financial Statementsthat give a true and fair view of the financial position financial performance totalcomprehensive income changes in equity and cash flows of the Company in accordance withthe Ind AS and other accounting principles generally accepted in India. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding 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 the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the Standalone FinancialStatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the Standalone Financial Statements management is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.

The Board of Directors are 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 scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Standalone FinancialStatements whether due to fraud or error design and perform audit procedures responsiveto those 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 financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances. Under section143 (3)(i) of the Act we are also responsible for expressing our opinion on whether theCompany has adequate internal financial controls system in place and the operatingeffectiveness of such controls.

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

Conclude on the appropriateness of management's use of the going concern basis ofaccounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe Standalone Financial Statements or if such disclosures are inadequate to modify ouropinion. Our conclusions are based on the audit evidence obtained up to the date of ourauditor's report. However future events or conditions may cause the Company to cease tocontinue as a going concern.

Evaluate the overall presentation structure and content of the Standalone FinancialStatements including the disclosures and whether the Standalone Financial Statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.

Materiality is the magnitude of misstatements in the Standalone Financial Statementsthat individually or in aggregate makes it probable that the economic decisions of areasonably knowledgeable user of the Standalone Financial Statements may be in uenced. Weconsider quantitative materiality and qualitative factors in

(i) planning the scope of our audit work and in evaluating the results of our work; and

(ii) to evaluate the effect of any identified misstatements in the Standalone FinancialStatements.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit ndings 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.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the Standalone Financial Statementsof the current year and are therefore the key audit matters. We describe these matters inour auditor's report unless law or regulation precludes public disclosure about the matteror when in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements.

1. As required by the Companies (Auditor's Report) Order 2016 (“the Order”)issued by the Central Government in terms of sub- section (11) of section 143 of the Actwe give in the “Annexure A” a statement on the matters specified inparagraphs 3 and 4 of the Order.

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

a. We have sought and obtained all the information and explanations which to the bestof our knowledge 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 it appears from our examination of those books;

c. The Balance Sheet the Statement of Pro t and Loss including Other ComprehensiveIncome the Statement of Changes in Equity and the Cash Flow Statement dealt with by thisReport are in agreement with the books of account;

d. In our opinion the aforesaid Standalone Financial Statements comply with Ind ASspecified under Section 133 of the Act read with relevant rule issued there under.

e. On the basis of written representations received from the Directors as on March 312020 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2020 from being appointed as a director in terms of Section 164 (2) ofthe Act.

f. With respect to the adequacy of Internal financial controls over financial reportingof the company and the operating effectiveness of such control refer to our separatereport in “Annexure B” our report express an unmodi ed opinion on theadequacy and operating effectiveness of the company's internal financial control overfinancial reporting.

g. With respect to the other matters to be included in the Auditor's in the Auditor'sReport in accordance with requirement of section 197(16) of the Act as amended:

i. In our opinion and to the best of our information and according to the explanationsgiven to us the Company has not paid/provided any managerial remuneration hence theprovisions of section 197 read with Schedule V of the Act are not applicable to theCompany.

h. 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 explanation given tous:

i. There are no pending litigations against the Company which would materially impactfinancial position in its financial statements.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

Annexure A to the Independent Auditor's Report

(Referred to in paragraph 1 under the “Report on Other Legal and RegulatoryRequirements” section of our report to the Members of Jupiter Infomedia Limited ofeven date)

i. a. The Company has maintained proper records showing full particulars includingquantitative details and situation of xed assets.

b. According to the information and explanations given to us the Fixed Assets havebeen physically veri ed by the management during the year no material discrepancies werenoticed on such verification with book records. In our opinion this periodicity ofphysical verification is reasonable having regard to the size of the Company and nature ofits assets.

c. According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deed of immovable properties are heldin the name of the company.

ii. The management has conducted physical verification of inventory at regularintervals during the year. In our opinion and according to the information andexplanations given to us the Company is maintaining proper records of inventory. Thediscrepancies noticed on verification between physical stocks and the book records werenot material having regard to the size of the operations of the company.

iii. Based on the audit procedure and according to information and explanations givento us the Company has not granted any loan secured or unsecured to the companies rm orother parties covered in the register maintained under section 189 of the Act.Therefore paragraph 3 (iii) of the Order is not applicable.

iv. In our opinion and according to the information and explanations given to us thereare no loans investments guarantees and securities granted in respect of whichprovisions of section 185 and 186 of the Companies Act. Therefore paragraph 3 (iv) of theOrder is not applicable.

v. According to information and explanations given to us the Company has not acceptedany deposits within the meaning of Section 73 to 76 of the Act and Rules framed thereunderto the extent notified. Therefore paragraph 3(v) of the Order is not applicable.

vi. According to information and explanations given by the management maintenance ofcost records has not been specified by the Central Government under sub-section (1)of section 148 of the Companies Act 2013 for the business activities carried out by theCompany. Therefore paragraph 3 (vi) of the Order is not applicable

vii. a. According to the information and explanations given to us and on the basis ofour examination of the records of the company is generally regular in depositing withappropriate authority the amounts deducted/ accrued in the books of accounting respect ofundisputed statutory dues including Income-tax Service-tax Goods and Service Tax cessand other statutory dues as applicable.

b. There were no undisputed amounts payable in respect of Service Tax Goods andService Tax Cess and other material statutory dues in arrears as at March 31 2020 for aperiod of more than six months from the date they became payable.

c. According to the information and explanations given to us there are no dues ofService Tax Goods and Service Tax Cess and other material statutory dues which have notbeen deposited on account of any disputes.

viii. In our opinion and according to the information and explanations given to us theCompany has not taken any loan either from banks financial institutions or from thegovernment and has not issued any debentures. Therefore paragraph 3(viii) of the

Order is not applicable.

ix. The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instrument) and term loans during the year. Thereforeparagraph 3(ix) of the Order is not applicable.

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

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

xiii. According to the information and explanation given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 & 188 of the Act where applicable and details have beendisclosed in the Standalone Financial Statements as required by the applicable accountingstandard.

xiv. According to the information and explanation given to us and based on ourexamination of the records Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debentures during the year. Thereforeparagraph 3(xiv) of the Order is not applicable.

xv. According to the information and explanation given to us and based on ourexamination of the records Company has not entered into any non-cash transactions withthe directors or persons connected with him. Therefore paragraph 3(xv) of the Order isnot applicable.

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

Annexure - B to the Auditors' Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 (“the Act”)

We have audited the internal financial controls over financial reporting of JupiterInfomedia Limited(“the Company”) as of March 31 2020 in conjunction withour audit of the Standalone Financial Statements of the Company for the year ended on thatdate.

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 statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India ('ICAI'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditors' 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 “Guidance Note”) and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable 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 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 judgment including the assessment of the risks ofmaterial misstatement of the Standalone Financial Statements whether due to fraud orerror.

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 Standalone Financial Statements for external purposes in accordance withgenerally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that

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

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of Standalone Financial Statements in accordance with generally acceptedaccounting principles and that receipts and expenditures of the company are being madeonly in accordance with authorisations of management and directors of the company; and

(3) 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 Standalone Financial Statements.

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 financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2020 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 by the Institute of CharteredAccountants of India.

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