You are here » Home » Companies » Company Overview » Pro Fin Capital Services Ltd

Pro Fin Capital Services Ltd.

BSE: 511557 Sector: Financials
NSE: N.A. ISIN Code: INE732K01019
BSE 00:00 | 22 Mar 139.10 -15.45
(-10.00%)
OPEN

139.10

HIGH

139.10

LOW

139.10

NSE 05:30 | 01 Jan Pro Fin Capital Services Ltd
OPEN 139.10
PREVIOUS CLOSE 154.55
VOLUME 2308
52-Week high 300.00
52-Week low 139.10
P/E 45.31
Mkt Cap.(Rs cr) 98
Buy Price 154.55
Buy Qty 3.00
Sell Price 139.10
Sell Qty 194227.00
OPEN 139.10
CLOSE 154.55
VOLUME 2308
52-Week high 300.00
52-Week low 139.10
P/E 45.31
Mkt Cap.(Rs cr) 98
Buy Price 154.55
Buy Qty 3.00
Sell Price 139.10
Sell Qty 194227.00

Pro Fin Capital Services Ltd. (PROFINCAPITAL) - Auditors Report

Company auditors report

TO

THE MEMBERS OF PRO FIN CAPITAL SERVICES LTD Report on the FinancialStatements

We have audited the accompanying standalone financial statements of PROFIN CAPITAL SERVICES LTD ("the Company") which comprise the Balance Sheet as at31/03/2018 the Statement of Profit and Loss the cash flow statement forthe yearthenended and a summary of the significant accounting policies and other explanatoryinformation.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible forthe matters statedin Section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. 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 financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalonefinancial statements based on our audit. We have taken into account the provisions of theAct the accounting and auditing standards and matters which are required to be includedin the audit report underthe provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditingspecified under Section 143(10) of the Act. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the standalone financial statements. 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. In making those risk assessments the auditor considers internal financial controlrelevant to the Company's preparation of the standalone financial statements that give atrue and fair view in order to design audit procedures that are appropriate in thecircumstances but not forthe purpose of expressing an opinion on whether the Company hasin place an adequate internal financial controls system over financial reporting and theoperating effectiveness of such controls. 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 overall presentationof the standalone financial statements.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the standalone financialstatements.

Opinion

In ouropinion and to the best of our information and according to theexplanations given to us the aforesaid standalone financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at 31/03/2018 and its Profit and it's cash flows forthe yearended on that date.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditors' Report)Order2016("theOrdeiJI) issued by the Central Government of India in terms of subsection (11) of section 143 of the Companies Act 2013. We give in the Annexure Astatements on the matters specified in paragraphs 3 and 4 of the order to the extentapplicable.

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 and the cashflow statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statementscomply with the Accounting Standards specified under Section 133 of the Act read withRule 7 of the Companies (Accounts) Rules 2014.

(e) On the basis of the written representations received fromthedirectors as on 31/03/2018taken on record by the Board of Directors none of thedirectors is disqualified as 31/03/2018 from being appointed as a director in terms ofSection 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 B".

(g) With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inouropinion and to the best of our information and according to the explanations given tous:

i. The Company has disclosed the impact of pending litigations on itsfinancial position in its standalone financial statements.

ii. The Company has made provision as required under the applicablelaw or accounting standards for material foreseeable losses if any on long-termcontracts including derivative contracts.

iii. There has been no delay in transferring amounts required to betransferred to the Investor Education and Protection Fund by the Company.

FOR HARJANI & ASSOCIATES (Chartered Accountants) Reg No. :041899

MUKESH HARJANI Proprietor M.No.: 041899

Date: 30/05/2018 Place: Mumbai

"Annexure B" to the Independent Auditor's Report of even dateon the Standalone Financial Statements of PRO FIN CAPITAL SERVICES LTD Company limited

Report on the Internal Financial Controls under Clause (i) ofSub-section 3of Section 143of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financialreporting of PRO FIN CAPITAL SERVICES LTD Company Limited ("The Company") as ofMarch 312018 in conjunction with our audit of the standalone financial statements of theCompany for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsibleforestablishing and maintaininginternal financial controls based on the internal control over financial reportingcriteria established by the Company considering the essential componentsof internalcontrol stated in theGuidanceNoteon Audit of Internal Financial Controls over FinancialReporting issued by the Institute of Chartered Accountants of India. Theseresponsibilities include thedesign implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls overt inancial reporting based on ouraudit. Weconductedouraudit inaccordance with the Guidance Noteon Audit of Internal Financial Controls Over FinancialReporting (the "Guidance Note") and the Standards on Auditing issued by ICAIand deemed to be prescribed under section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India. 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.

Ouraudit involves performing procedures to obtain audit evidenceamouttheadequacy of the internal financial control system overfinancial reporting andtheiroperating effectiveness. Ouraudit of internal financial controls over financialreporting assessing the risk that a material weakness exists and operating effectivenessof internal control based on the assessed risk. The procedures selected depend upon on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internal financialcontrols system overfinancial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control overfinancial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements forextemal purposes in accordancewith generally accepted accounting principles. A company's internal financial controloverfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (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 FinancialReporting

Because of the inherent limitations of internal financial controlsovert inancial 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

In our opinion the Company has in all material respects an adequateinternal financial controls system over financial reporting and such internal financialcontrols over financial reporting were operating effectively as at March 312016 based onthe internal control overt inancial 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 issues by the Institute ofChartered Accountants of India.

FOR HARJANI & ASSOCIATES (Chartered Accountants) Reg No. :041899

MUKESH HARJANI Proprietor M.No.: 041899

Date: 30/05/2018 Place: Mumbai

Reports under The Companies (Auditor's Report) Order 2016 (CARO 2016)for the year ended on 31st

March 2018

To

The Members of PRO FIN CAPITAL SERVICES LTD

(i) In Respect of Fixed Assets

(a) The company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

(b) Fixed assets have been physically verified by the management atreasonable intervals; No material discrepancies were noticed on such verification.

(c) No Immovable properties are held in the name of Company

(ii) In Respect of Inventories

Physical verification of inventory has been conducted at reasonableintervals by the management.

(iii) Compliance under section 189 of The Companies Act 2013

The company has not granted any loans secured or unsecured tocompanies firmsorother parties covered in the register maintained u/s 189 of thecompanies Act-2013.

(a) The company has not granted any loans secured or unsecured tocompanies firms or other parties covered in the register maintained u/s 189 of thecompanies Act-2013.

(b) The company has not granted any loans secured or unsecured tocompanies firms or other parties covered in the register maintained u/s 189 of thecompanies Act-2013.

(c) The company has not granted any loans secured or unsecured tocompanies firms or other parties covered in the register maintained u/s 189 of thecompanies Act-2013.

(iv) Compliance under section 185 and 186 of The Companies Act 2013

While doing transaction for loans investments guarantees andsecurity provisions of section 185 and 186 of the Companies Act 2013 have been compliedwith.

(v) Compliance under section 73 to 76 of The Companies Act 2013 andRules framed there under while accepting Deposits

The company has not accepted any Deposits.

(vi) Maintenance of cost records

The Company is not required to maintain cost records pursuant to theRules made by the Central Govenment for the maintenance of cost records under sub-section(1) of section 148 of the Companies Act 2013.

(vii) Deposit of Statutory Dues

(a) According to the records of the Company there are no dues ofIncome tax sales tax customs duty wealth tax service tax excise duty sales tax andcess that have been not been deposited on amount of any dispute.

(b) There is no dispute with the revenue authorities regarding any dutyor tax payable.

(viii) Repayment of Loans and Borrowings

The company has not defaulted in repayment of dues to financialinstitution bank or debenture holders.

(ix) Utilization of Money Raised by Public Offers and Term Loan Forwhich they Raised

The Company has not applied term loans for the purposes other than forwhich those are raised

(x) Reporting of Fraud During the Year

Based on our audit procedures and the information and explanation madeavailable to us no such fraud noticed or reported during the year.

(xi) Managerial Remuneration

Managerial remuneration has been paid or provided in accordance withthe requisite approvals mandated by the provisions of section 197 read with Schedule V tothe Companies Act.

(xii) Compliance by Nidhi Company Regarding Net Owned Fund to DepositsRatio

As per information and records available with us The company is notNidhi Company.

(xiii) Related party compliance with Section 177 and 188 of companiesAct - 2013

Yes All transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 where applicable and the details have beendisclosed in the Financial Statements etc. as required by the applicable accountingstandards.

(xiv) Compliance under section 42 of Companies Act - 2013 regardingPrivate placement of Shares or Debentrues

The company has not made any preferntial allotment or private placementof shares or fully or partly convertible debentures during the year.

(xv) Compliance under section 192 of Companies Act - 2013

The company has not entered into any non-cash transactions withdirectors or persons connected with him.

(xvi) Requirement of Registration under 45-IA of Reserve Bank of IndiaAct 1934

The company is required to be registered under section 45-IA of theReserve Bank of India Act 1934 and registration has been obtained by the company

FOR HARJANI & ASSOCIATES (Chartered Accountants) Reg No. :041899

MUKESH HARJANI Proprietor M.No.: 041899

Date: 30/05/2018 Place: Mumbai