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Progrex Ventures Ltd.

BSE: 531265 Sector: Industrials
NSE: N.A. ISIN Code: INE421E01012
BSE 00:00 | 18 Apr Progrex Ventures Ltd
NSE 05:30 | 01 Jan Progrex Ventures Ltd
OPEN 12.88
PREVIOUS CLOSE 12.88
VOLUME 100
52-Week high 13.59
52-Week low 5.58
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 12.88
CLOSE 12.88
VOLUME 100
52-Week high 13.59
52-Week low 5.58
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Progrex Ventures Ltd. (PROGREXVENTURES) - Auditors Report

Company auditors report

The Members of

Progressive Extractions & Exports Limited Bhopal.

Report on the Financial Statements

We have audited the accompanying standalone financial statements of ProgressiveExtractions & Exports Limited Bhopal which comprise the Balance Sheet as at 31 March2021 the Statement of Profit and Loss and the Cash flow statement for the year thenended and a summary of significant accounting policies and other explanatory information.Management's Responsibility for the Financial Statements The Company's Board of Directorsis responsible for the matters stated in section 134(5) of the Companies Act 2013(“the Act”) with respect to the preparation and presentation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the Company in accordance with the accounting principles generallyaccepted in India including the Accounting Standards specified under Section 133 of theAct read with Rule 7 of the Companies (Accounts) Rules 2014 This responsibility alsoincludes the maintenance of adequate accounting records in accordance with the provisionof the Act for safeguarding of the assets of the Company and for preventing and detectingthe frauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and designimplementation and maintenance of adequate internal financial control that were operatingeffectively for ensuring the accuracy and completeness of the accounting records relevantto the preparation and presentation of the financial statements that give a true and fairview and are free from material misstatement whether due to fraud or error.

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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions of the Act and the Rules made thereunder

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 anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thefinancial statements that give true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and operating effectiveness of such controls An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by Company's Directors as well as evaluating the overallpresentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at 31stMarch2021 its profit/loss and its cash flows for the year ended on that date. Report onother Legal and Regulatory Requirements As required by section 143(3) of the Act wereport 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 Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) On the basis of written representations received from the directors as on 31 March2020 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2021 from being appointed as a director in terms of Section 164(2) of theAct.

f) In our opinion and to the best of our information and according to the explanationsgiven to us we report as under with respect to other matters to be included in theAuditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules2014:

i The Company has no pending litigations which have any impact on its financialposition in its financial statements.

ii The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses

iii There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company

For JAIN DHUREJA & CO.
Chartered Accountants
(CA. SHASHANKJAIN) Place ; Bhopal
Partner Dated :02nd June 2020
M. No.:I28861

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