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Macro International Ltd.

BSE: 512600 Sector: Financials
NSE: N.A. ISIN Code: INE307N01014
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NSE 05:30 | 01 Jan Macro International Ltd
OPEN 27.15
PREVIOUS CLOSE 27.15
VOLUME 100
52-Week high 30.05
52-Week low 5.41
P/E
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 27.15
CLOSE 27.15
VOLUME 100
52-Week high 30.05
52-Week low 5.41
P/E
Mkt Cap.(Rs cr) 11
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Macro International Ltd. (MACROINTL) - Auditors Report

Company auditors report

TO THE MEMBERS

MACRO INTERNATIONAL LTD.

Report on the Audit of the Standalone Financial Statements Opinion

1. We have audited the accompanying standalone financial statements of MACROINTERNATIONAL LTD ("the Company") which comprise the Balance Sheet as at March31 2021 the statement of Profit and Loss and Cash Flow Statement for the year ended onthat date and the notes to the financial statements including a summary of significantaccounting policies and other explanatory information.

2. 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 accounting principles generally accepted in India ofthe state of affairs of the Company as at March 31 2021 its Profit as per statement andits cash flows for the year ended on that date.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theStandalone Financial Statements section of our report. We are independent of theCompany in accordance with the Code of Ethics issued by the Institute of CharteredAccountants of India together with the ethical requirements that are relevant to our auditof the financial statements under the provisions of the Act and the Rules thereunder andwe have fulfilled our other ethical responsibilities in accordance with these requirementsand the Code of Ethics. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our opinion on the standalone financial statements.

Emphasis of matter

4. We draw attention to Note No. 23 to the standalone financial statements regardingoutbreak of the COVID-19 pandemic and the consequential lock-down restrictions imposed bythe Government which as per the assessment of the management has not significantlyimpacted the operations and financial position of the Company.

Our opinion is not modified in respect of this matter.

Key audit matters

5. Key audit matters are those matters that in our professional judgement were ofmost significance in our audit of the financial statements of the current period. Thesematters were addressed in the context of our audit of the financial statements as a wholeand in forming our opinion thereon and we do not provide a separate opinion on thesematters.

Key audit matters How our audit addressed the key audit matters
Compliance and disclosure requirements under the applicable Indian Accounting Standards RBI Guidelines and other applicable statutory regulatory and financial reporting framework. We have assessed the systems and processes laid down by the company to appropriately ensure compliance and disclosures as per the applicable Indian Accounting Standards RBI Guidelines and other applicable statutory regulatory and financial reporting framework.
We have designed and performed audit procedures to assess the completeness and correctness of the details disclosed having regard to the assumptions made by the management in relation to the applicability and extent of disclosure requirements; and have relied on internal records of the company and external confirmations wherever necessary.

Information Other than the Standalone financial statements an Auditor's Report Thereon

6. The Company's Board of Directors is responsible for the preparation of otherinformation. The other information comprises the information included in Board's Reportincluding Annexures to Board's Report in the Annual Report of the Company for thefinancial year 2020-21 but does not include the standalone financial statements and ourauditor's report thereon. The reports containing the other information as above areexpected to be made available to us after the date of this auditor's report. Our opinionon the financial statements does not cover the other information and we will not expressany form of assurance conclusion thereon. In connection with our audit of the standalonefinancial statements our responsibility is to read the other information identified abovewhen it becomes available and in doing so consider whether the other information ismaterially inconsistent with the standalone financial statements or our knowledge obtainedin the audit or otherwise appears to be materially misstated. When we read the reportscontaining the other information if we conclude that there is a material misstatementtherein we are required to communicate the matter to those charged with governance.

Responsibilities of management and thoscharge with governance for the Standalonefinancial statements

7. 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 and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Indian Accounting Standards specified under section 133 of the Act.This responsibility also includes maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding of the assets of the Company and forpreventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgements and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial controls thatwere operating 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.

8. 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

9. 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 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.

10. As part of an audit in accordance with SAs we exercise professional judgement andmaintain professional skepticism 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 control relevant to the audit including internalaudit system in vogue in order to design audit procedures that are appropriate in thecircumstances. Under section 143(3)(i) of the Act we are also responsible for expressingour opinion on whether the company has adequate internal financial controls with referenceto financial statements in place and the operating effectiveness 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.

11. Materiality is the magnitude of misstatements in the standalone financialstatements that individually or in aggregate makes it probable that the economicdecisions of a reasonably knowledgeable user of the standalone financial statements may beinfluenced. We consider 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.

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

13. 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.

14. 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 auditor's 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

15. As required by the Companies (Auditor's Report) Order 2016 ('the Order') issuedby the Central Government of India in terms of sub section (11) of Section 143 of the Actwe give in the "Annexure A" a statement on the matters specified in theparagraphs 3 and 4 of the order to the extent applicable.

16. 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 purposes of our audit.

(b) In our opinion proper books of account as required by law have been kept by theCompany so far as i t appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial s tatements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on March31 2021 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2021 from being appointed as a d irector in terms of Section 164(2) of theAct.

(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 B". Our report expresses an unmodified opinion on theadequacy 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 the requirements of section 197 (16) of the Act as amended in ouropinion and to the best of our information and according to the explanations given to usthe remuneration paid by the Company to its directors during the year is in accordancewith the provisions of section 197 of the Act; and

(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 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financialposition.

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.

For Om P. Agarwal & Assoicates Chartered Accountants FRN 006948C
Place: Kanpur

Dated: 30-06-2021

Sd/- (Om Prakash Agarwal) Proprietor Me m bership No. 017821 UD IN :21 01 7821AAAAAC3551

Annexure A to the Independent Auditors' Report on the Standalone Financial Statements

The annexure referred to in Independent Auditors Report to the members of the Companyon the financial statements for the year ended 31st March 2021 we reportthat;

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

(b) The fixed assets of the Company have been physically verified by the management atreasonable intervals during the year; No material discrepancies were noticed on suchverification;

(c) According to the information and explanation given to us and on the basis of theexamination of the records of the company no material discrepancies were noticed on suchverification and the title deeds of the immovable properties are held in the name of thecompany.

(ii) The Company does not have inventory as there was no commercial activity beingcarried by the Company during the year. Therefore paragraph 3(ii) of the order is notapplicable.

(iii) According to the information and explanation given to us the company has notgranted unsecured loan to parties covered u/s 189 of The Companies Act 2013 Thereforeparagraph 3(iii) of the order is not applicable.

(iv) According to the information and explanation given to us and on the basis ofexamination of the records of the Company the Company has neither given loans guaranteeand security nor made any investment under the provisions of section 185 and 186 of TheCompanies Act 2013. Accordingly paragraph 3(iv) of the order is not applicable to theCompany.

(v) According to the information and explanation given to us and on the basis of theexamination of the records of the Company; The Company has not accepted any deposits frompublic. Therefore paragraph 3(v) of the order is not applicable.

(vi) The Company is not required to mainta in any cost records that have been specifiedby the Central Government under sub-section (1) of section 148 of the Companies Act 2013.Therefore paragraph 3(vi) of the order is not applicable.

(vii) (a) According to the information and explanation given to us and on the basis ofour examination of the records of the Company the Company has been regular in depositingits undisputed statutory dues including income tax cess and other material statutory dueswith the appropriate authority. As explained to us there are no undisputed statutory duesas mentioned above in arrears as at 31st March 2021 for a period of more thansix months from the date they became payable.

(b) According to the information and explanation given to us there are no material dueson account of income tax cess that has not been deposited with the appropriate authorityon account of any dispute.

(viii) According to the information and explanation given to us and on the basis of ourexamination of records of the Company the Company does not have any loans or borrowingfrom any financial institutions bank Government or dues to debenture holders during theyear. Therefore paragraph 3(viii) of the order is not applicable.

(ix) According to the information and explanation given to us and on the basis of ourexamination of records of the Company the Company did not raise any money by way ofinitial public offer or further public offer (including debt instruments) and term loansduring the year. Therefore paragraph 3(ix) of the order is not applicable.

(x) During the course of our examination of the books and records of the Companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of material fraud by the Company or on the Company by its officers or employeesnoticed or reported during the year nor have we been informed of any such case by theManagement.

(xi) According to the information and explanation given to us and on the basis of ourexamination the company has paid/ provided for managerial remuneration in accordance withthe requisite approvals mandated by the provisions of section 197 read with Schedule V tothe Companies Act2013.

(xii) In our opinion and according to the information and explanation given to us thecompany is not a Nidhi company. Therefore paragraph 3(xii) of the order is notapplicable.

(xiii) According to the information and explanation given to us and on the basis of ourexamination of the records of the company transactions with the related party are incompliance with sections 177 & 188 of the Act where applicable and details of suchtransactions have been disclosed in the standalone financial statements as required by theapplicable accounting standards.

(xiv) According to the information and explanation given to us and on the basis of 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. Therefore paragraph 3(xiv) of the order is not applicable.

(xv) According to the information and explanation given to us and on the basis of ourexamination of the records of the Company the Company has not entered into any non-cashtransactions with the directors or persons connected with him/ them as specified undersection 192 of the Act. Therefore paragraph 3(xv) of the order is not applicable.

(xvi) In our opinion the Company is not required to be registered under section 45 IAof the Reserve Bank of India Act 1934 and accordingly the provisions of clause 3 (xvi)of the order are not applicable to the Company.

For Om P. Agarwal & Assoicates Chartered Accountants FRN 006948C
Place: Kanpur Dated: 30-06-2021 Sd/- (Om Prakash Agarwal) Proprietor Membership No. 017821 UDIN:21017821AAAAAC3551

Annexure - B to the Auditors' Report

(Referred to in paragraph 2 under 'Report on Other Legal and Regulatory Requirements'section of Independent Auditor's Report on financial statement of even date.)

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

We have audited the internal financial controls over financial reporting of MACROINTERNATIONAL LTD ("the Company") as of 31st March 2021 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

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 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

(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 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

(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 financial 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 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 31st March 2020based on 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 our audit opinion on the Company's internal financialcontrols system over financial report

For Om P. Agarwal & Associates (Chartered Accountants)
Place : Kanpur Date : 30-06-2021 Sd/- Om Prakash Agarwal (Proprietor) M.No. 017821 FRN No. 006948C UDIN : 21017821AAAAAC3551

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