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Media Matrix Worldwide Ltd.

BSE: 512267 Sector: Media
NSE: MMWL ISIN Code: INE200D01020
BSE 00:00 | 16 Sep 4.47 0
(0.00%)
OPEN

4.59

HIGH

4.59

LOW

4.25

NSE 05:30 | 01 Jan Media Matrix Worldwide Ltd
OPEN 4.59
PREVIOUS CLOSE 4.47
VOLUME 40682
52-Week high 5.78
52-Week low 3.89
P/E
Mkt Cap.(Rs cr) 506
Buy Price 4.26
Buy Qty 2500.00
Sell Price 4.45
Sell Qty 2070.00
OPEN 4.59
CLOSE 4.47
VOLUME 40682
52-Week high 5.78
52-Week low 3.89
P/E
Mkt Cap.(Rs cr) 506
Buy Price 4.26
Buy Qty 2500.00
Sell Price 4.45
Sell Qty 2070.00

Media Matrix Worldwide Ltd. (MMWL) - Auditors Report

Company auditors report

TO THE MEMBERS OF

Media Matrix Worldwide Limited

1. Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of MEDIA MATRIXWORLDWIDE LIMITED ("the Company") which comprise the standalone BalanceSheet as at 31st March 2018 and the standalone Statement of Profit and Loss andstandalone Cash Flow Statement for the year then ended and a summary of the significantaccounting policies and other explanatory information.

2. 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 Companies Act 2013 ("the Act") with respect to the preparation ofthese standalone financial statements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

3. Auditor's' Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit procedures thatare appropriate in the circumstances. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by Company's Directors as well as evaluating the overall presentation ofthe financial statements.

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

4. Opinion

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 Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2018 and its loss and its cash flows for the year ended on that date.

5. 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 of India in terms of sub-section (11) of section 143 ofthe Companies Act 2013 we give in the Annexure "A" statement on the mattersspecified in paragraphs 3 and 4 of the Order to the extent applicable.

2) As required by the Non-Banking Financial Companies Auditor's Report (Reserve Bank)Directions 2008 dated 18th September 2008 we give a separate report "Auditors'Report on NBFC" for matter specified in said Direction.

3) 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 it appears from our examination of those books;

(c) the standalone Balance Sheet standalone Statement of Profit and Loss andstandalone Cash Flow Statement dealt with by this Report are in agreement with the booksof account;

(d) in our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Companies Act 2013 read with Rule7 of the Companies (Accounts) Rules 2014;

(e) on the basis of the written representations received from the directors as on 31stMarch 2018 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director in terms ofsubsection (2) of Section 164 of the Companies Act 2013;

(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"; and

(g) 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 information and according to the explanations given to us:

i. The Company has disclosed the impact if any of pending litigations on itsfinancial position in its financial statements - Refer Note 26 to the financialstatements;

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses. Refer Note 26 to the financialstatements;

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

For KHANDELWAL JAIN & Co
Chartered Accountants
Firm's Registration No. 105049W
Naveen Jain
Place: New Delhi (Partner)
Date: 25th May 2018 Membership No. 511596

ANNEXURE "A" TO THE AUDITORS' REPORT

Annexure referred to in paragraph 5(1) of the Independent Auditors' Report of even dateto the Members of Media Matrix Worldwide Limited on the standalone financialstatements for the year ended 31st March 2018 we report that:

I. (a) The Company has maintained proper records showing full particulars includingquantitative details and situations of its Fixed Assets.

(b) All fixed assets have not been physically verified by the management during theyear but there is a regular program of verification which in our opinion is reasonablehaving regard to the size of the Company and the nature of its assets and as informed nomaterial discrepancies were noticed on such verification.

(c) Company has not owned any immovable property. Accordingly paragraph 3 (I) (c) ofthe order is not applicable.

II. As the Company does not have any Inventory. Accordingly paragraph 3 (II) (a) (b)and (c) of the Order is not applicable. III. As per the information furnished the Companyhas not granted any loans secured or unsecured to companies firms and other partiescovered in the register maintained under Section 189 of the Companies Act 2013.Accordingly paragraphs 3(III) (a) and (b) of the Order are not applicable.

IV. In our opinion and according to the information and explanations given to us thecompany has in respect of loans investments guarantees and security complied with theprovisions of section 185 and 186 of the Companies Act 2013. V. In our opinion andaccording to the information and explanation given to us the Company has not accepted anydeposits within the meaning of the provisions of Sections 73 to 76 or any other relevantprovisions of the Companies Act 2013 and the rules framed there under.

VI. According to the information and explanations given to us the Central Governmenthas not prescribed the maintenance of cost records under sub-section (1) of section 148 ofthe Companies Act 2013 for any products of the company.

VII. (a) According to the information and explanations given to us and records examinedby us the Company has generally been regular in depositing undisputed statutory dues withthe appropriate authorities in respect of provident fund employees' state insuranceincome-tax VAT service tax excise duty and other statutory dues applicable to it withthe appropriate authorities. According to the information and explanations given to usthere are no undisputed amounts payable in respect of such statutory dues at the year endfor a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us and as certified by themanagement no dues pending which have not been deposited on account of disputes.

VIII. According to the information and explanations given to us and records examined byus as at the Balance Sheet date the Company has not defaulted in repayment of dues tofinancial institution or banks or debenture holders.

IX. As per information given to us no money was raised by way of initial public offeror further public offer (including debt instruments) and no term loan has been takenduring the year by the company.

X. To the best of our knowledge and belief and according to the information andexplanations given to us no fraud on or by the company has been noticed or reportedduring the course of our audit.

XI. According to the information and explanation given to us and the books of accountsverified by us the Managerial remuneration has been paid or provided in accordance withthe requisite approvals mandated by the provisions of section 197 read with the Schedule Vto the Companies Act.

XII. The Company is not a Nidhi Company. Accordingly paragraph 3(xii) of the order isnot applicable.

XIII. 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 Companies Act 2013 where applicable and details ofsuch transactions have been disclosed in the Financial Statements as required by theapplicable accounting standards.

XIV. According to information and explanations given to us the Company during the yearhas not made any preferential allotment as private placement of shares or fully or partlyconvertible debentures. Accordingly paragraph 3(xiv) is not applicable. XV. According tothe information and explanation given to us and certified by the management the companyhas not entered into any non-cash transaction with directors or persons connected withhim.

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

For KHANDELWAL JAIN & Co
Chartered Accountants
Firm's Registration No. 105049W
Naveen Jain
Place: New Delhi (Partner)
Date : 25th May 2018 Membership No. 511596

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") TO THE MEMBERS OF

MEDIA MATRIX WORLDWIDE LIMITED

We have audited the internal financial controls over financial reporting of MEDIAMATRIX WORLDWIDE LIMITED ("the Company") as of March 31 2018 in conjunctionwith our audit of the standalone financial statements of the company for the year ended onthat 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 control over Financial Reportingissued by the Institute of Chartered Accountants of India. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to the 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.

Auditor's 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 as specified under Section143 (10) of the companies act 2013 to the extent applicable to an audit of internalfinancial controls both applicable to an audit of internal financial controls and bothissued by Institute of Chartered Accountants of India. Those standards and the guidancenote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate Internal financial controls overfinancial reporting were established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial control 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 internal financial controls system overfinancial 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 ofrecords in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with the generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material 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 March 312018 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.

For KHANDELWAL JAIN & Co
Chartered Accountants
Firm's Registration No. 105049W
Naveen Jain
Place: New Delhi (Partner)
Date: 25TH May 2018 Membership No. 511596