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Net Pix Shorts Digital Media Ltd.

BSE: 543247 Sector: Media
NSE: N.A. ISIN Code: INE0D5F01013
BSE 00:00 | 11 Aug Net Pix Shorts Digital Media Ltd
NSE 05:30 | 01 Jan Net Pix Shorts Digital Media Ltd
OPEN 30.40
PREVIOUS CLOSE 30.40
VOLUME 4000
52-Week high 34.35
52-Week low 30.00
P/E
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 30.40
CLOSE 30.40
VOLUME 4000
52-Week high 34.35
52-Week low 30.00
P/E
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Net Pix Shorts Digital Media Ltd. (NETPIXSHORTS) - Auditors Report

Company auditors report

RESTATED FINANCIAL STATEMENTS OF NET PIX SHORTS DIGITAL MEDIA LIMITED

To

The Board of Directors

Net Pix Shorts Digital Media Limited

Flat No. 1402 Z A Towers Zohra Aghadi Yari Road Versova Andheri West Mumbai– 400 061 Dear Sir / Ma'am

1. We have examined the attached Restated Summary Statement along with the significantaccounting policies and related notes of Net Pix Shorts Digital Media Limited (the'Company') as at and for the period ended June 30 2020 and for the financial year endedMarch 31 2020 annexed to this report and prepared by the Company for the purpose ofinclusion in the Offer Document in connection with its proposed Initial Public Offer("IPO").

2. The said Restated Financial Statements and other Financial Information have beenprepared in accordance with the requirements of:

i. Section 26 of Part I of Chapter III to the Companies Act 2013 ("the Act")read with Companies (Prospectus and Allotment of Securities) Rules 2014;

ii. The Securities and Exchange Board of India (Issue of Capital and DisclosureRequirements) Regulations 2018 ("ICDR Regulations") issued by the Securities andExchange Board of India ("SEBI") in pursuance to Section 11 of the Securitiesand Exchange Board of India Act 1992 and related amendments / clarifications from time totime;

iii. The terms of reference to our engagements with the Company requesting us to carryout the assignment in connection with the Prospectus being issued by the Company for itsproposed IPO of equity shares.

iv. The Guidance Note on Reports in Company Prospectus (Revised 2019) issued by theInstitute of Chartered Accountants of India ("Guidance Note").

3. We have examined the accompanied ‘Restated Statement of Profit and Loss' (Annexure– II) for the period ended June 30 2020 and for the financial year ended onMarch 31 2020 and the ‘Restated Statement of Assets and Liabilities' (Annexure– I) as on those dates forming Part of the ‘Financial Information' dealtwith by this Report detailed below. Both read together with the Significant AccountingPolicies and Notes to Accounts (Annexure – IV & V) thereon which are theresponsibility of the Company's management. The information has been extracted from thefinancial statements for the period ended June 30 2020 and for the financial year endedon March 31 2020. The Financial Statements for the period ended June 30 2020 and for thefinancial year ended March 31 2020 have been audited by us.

4. In terms of Schedule VI (Part A) (11) (II) (i) of the SEBI (ICDR) Regulations 2009and other provisions relating to accounts of Net Pix Shorts Digital Media Limited weM/s. B. L. Dasharda & Associates Chartered Accountants have been subjected to thepeer review process of the Institute of Chartered Accountants of India (ICAI) and hold avalid certificate issued by the Peer Review Board of the ICAI.

5. Based on our examination we further report that: a. The Restated Statement ofAssets and Liabilities of the Company as on the period ended June 30 2020 and as on thefinancial year ended on March 31 2020 examined by us as set out in Annexure I tothis examination report are after making adjustments and regrouping as in our opinionwere appropriate and more fully described in the statement of significant accountingpolicies in Annexure IV and the Notes to Accounts in Annexure V.

b. The Restated Statement of Profit and Loss of the Company for the period ended June30 2020 and for the financial year ended March 31 2020 examined by us as set out in AnnexureII to this examination report are after making adjustments and regrouping as in ouropinion were appropriate and more fully described in the statement of significantaccounting policies in Annexure IV and the Statement of Adjustments to the auditedfinancial statements in Annexure V.

c. The Restated Statement of Cash Flows of the Company for the period ended June 302020 and for the financial year ended on March 31 2020 examined by us as set out in AnnexureIII to this examination report are after making adjustments and regrouping as in ouropinion were appropriate and more fully described in the statement of significantaccounting policies in Annexure IV and the Notes to Accounts in Annexure V.

d. The Restated Financial Statements have been made after incorporating adjustmentsfor:

i. The changes if any in accounting policies retrospectively in respective financialyears to reflect the same accounting treatment as per the changed accounting policy forall the reporting period / years.

ii. Prior period and other material amount in the respective financial years to whichthey relate.

Which are stated in the Notes to Accounts as set out in Annexure V

e. Such Financial statements do not require any corrective adjustments on account of:

i. Other remarks/comments in the Companies (Auditor's Report) Order 2003 ("theOrder") as amended issued by the Central Government of India in terms of sub -section (4A) of section 227 of the act on financial statements of the company for theperiod ended June 30 2020 and for the financial year ended on March 31 2020. ii.Extra-ordinary items that need to be disclosed separately in the accounts requiringadjustments.

6. At the request of the company we have also examined the following financialinformation ("Other Financial Information") proposed to be included in the offerdocument prepared by the management and approved by the board of directors of the companyand annexed to this report:

7. At the request of the company we have also examined the following financialinformation ("Other Financial Information") proposed to be included in the offerdocument prepared by the management and approved by the board of directors of the companyand annexed to this report:

i) Schedule of Share Capital (Annexure - VI)

ii) Schedule of Reserves & Surplus (Annexure - VII)

iii) Schedule of Long Term Borrowings (Annexure – VIII)

iv) Schedule of Trade Payables (Annexure – IX)

v) Schedule of Short Term Provisions (Annexure – X)

vi) Schedule of Other Current Liabilities (Annexure – XI)

vii) Schedule of Fixed Assets (Annexure - XII)

viii) Schedule of Deferred Tax Assets (Annexure – XIII)

ix) Schedule of Inventories (Annexure – XIV)

x) Schedule of Trade Receivables (Annexure – XV)

xi) Schedule of Cash and Cash Equivalents (Annexure – XVI)

xii) Schedule of Short Term Loans & Advances (Annexure – XVII)

xiii) Schedule of Revenue from Operations (Annexure – XVIII)

xiv) Schedule of Other Income (Annexure – XIX)

xv) Schedule of Direct Expenses (Annexure – XX)

xvi) Schedule of Changes in Inventory (Annexure – XXI)

xvii) Schedule of Employee Benefit Expenses (Annexure –XXII)

xviii) Schedule of Finance Cost (Annexure –XXIII)

xix) Schedule of Other Expenses (Annexure –XXIV)

xx) Schedule of Related Party Transactions (Annexure –XXV)

xxi) Schedule of Dividend Declared (Annexure –XXVI)

xxii) Schedule of Contingent Liability (Annexure – XXVII)

xxiii) Statement of Tax Shelter (Annexure – XXVIII)

8. In our opinion the Restated Financial Statements and the other FinancialInformation set forth in Annexure I to XXVIII read with the significant accountingpolicies and notes to the restated financial statements have been prepared in accordancewith section 26 of Companies Act 2013 and the SEBI Regulations and the Guidance Note onthe reports in Company Prospectus (Revised 2019) issued by the Institute of CharteredAccountants of India (ICAI). Consequently the financial information has been preparedafter making such regroupings and adjustments as were in our opinion consideredappropriate to comply with the same. As a result of these regrouping and adjustments theamount reported in the financial information may not necessarily be the same as thoseappearing in the respective audited financial statements for the relevant years.

9. This report should not in any way construed as a re-issuance or re-drafting of anyof the previous audit reports issued by us or earlier Statutory Auditors nor should thisreport be construed as a new opinion on any of the financial statement referred totherein. 10. We have no responsibility to update our report for events and circumstancesoccurring after the date of the report.

11. This report is intended solely for your information and for inclusion in the Offerdocument in connection with the Company's proposed IPO of equity shares and is not to beused referred to or distributed for any other purpose without our prior written consent.

For B. L. Dasharda & Associates

Chartered Accountants

FRN: 112615W

CA Sushant Mehta

Partner

M. No.: 112489 Place: Mumbai

Date: November 09 2020

UDIN: 20112489AAAAMC1761

.