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Tejnaksh Healthcare Ltd.

BSE: 539428 Sector: Health care
NSE: N.A. ISIN Code: INE030T01019
BSE 00:00 | 20 Feb 44.05 -1.40
(-3.08%)
OPEN

47.60

HIGH

47.60

LOW

43.20

NSE 05:30 | 01 Jan Tejnaksh Healthcare Ltd
OPEN 47.60
PREVIOUS CLOSE 45.45
VOLUME 1014
52-Week high 84.00
52-Week low 40.30
P/E 14.44
Mkt Cap.(Rs cr) 45
Buy Price 43.20
Buy Qty 1.00
Sell Price 47.60
Sell Qty 97.00
OPEN 47.60
CLOSE 45.45
VOLUME 1014
52-Week high 84.00
52-Week low 40.30
P/E 14.44
Mkt Cap.(Rs cr) 45
Buy Price 43.20
Buy Qty 1.00
Sell Price 47.60
Sell Qty 97.00

Tejnaksh Healthcare Ltd. (TEJNAKSHHEALTH) - Auditors Report

Company auditors report

To

The Members of

Tejnaksh Healthcare Limited

Report on the Financial Statements

We have audited the accompanying financial statement of Tejnaksh Healthcare Limited(the "Company") which comprise the Balance Sheet as at 31stMarch2019the Statement of Profit and Loss for year ended 31st March 2019 and theCash Flow Statement for year ended 31st March 2019 and a summary of significantaccounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statement that give atrue and fair view of the financial position and financial performance of the Company inaccordance with the sec.134(5) of the Companies Act 2013Accounting Standards Notifyunder Companies Act2013 read with General Circular 08/2014 dated 04-04-2014issued by TheMinistry of Corporate Affairs in respect of Section 133 of the Companies Act2013 and inaccordance with the accounting principle generally accepted in India. This responsibilityincludes the designs implementation and maintenance of internal control relevant to thepreparation and presentation of the financial statement that gives a true and fair viewand is free from material misstatement whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. 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 thereunder.

We conducted our audit in accordance with the standards on auditing issued by theInstitute of Chartered Accountants of India. 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 about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment to the risks of material misstatement ofthe financial statement whether due to fraud or error. In making those risk assessments;the auditor considers internal control relevant to the company’s preparation and fairpresentation of financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the Company’s Internal Control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial statements. We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for audit opinion on 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 standalone financial statements.

Opinion

According to Note 2A(g) on the Significant Accounting Policies the accounting ofGratuity Liability and Leave Encashment Liability on cash basis is not in accordance withAccounting Standard 15 on "Employee Benefits" issued by the Institute ofChartered Accountants of India.

Subject to the above in our opinion and to the best of our information and accordingto the explanations 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 viewin conformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at 31st March 2019 its profit for the year ended onthat date and its Cash Flows for the same period.

Emphasis of Matters

There is no matter in the Notes to the financial Statements which require theimmediate attention of the members apart from the above noncompliance of the AS 15 issuedby the Institute of Chartered Accountants of India.

Report on Other Legal and Regulatory Requirements

1. The Companies (Auditor’s Report) Order 2016 issued by the Central Governmentof India in terms of section 143(3) of the Companies Act 2013 is enclosed as Annexure tothis report.

2. As required by section 143(3) of the Act we report that:

a. We have obtained all the information and explanation which to the best of ourknowledge and belief were necessary for the purpose of our audit;

b. In our opinion proper books of account as required by law have been kept by thecompany so far as appears from our examination of those books;

c. The Balance Sheet and 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 financial statements comply with the AccountingStandards notify under the Act read with the General Circular 15/2013 dated 13-09-2013 ofthe Ministry of Corporate Affairs in respect of section 133 of the Act read with Rule 7of the Companies(Accounts) Rule2014;

e. On the basis of written representation received form the directors as on 31 March2019 and taken on record by the board of directors none of the directors is disqualifiedas on 31st March 2019 from being appointed as a director in terms of section 164 of theCompanies Act 2013.

For and on behalf of

P.D.Dalal& Co.

Chartered Accountants

Firm Registration No.102047W

Sd/-

(Aashish S. Kakaria)

Partner

Membership No.102915

Mumbai

May 28 2019

To the Members of

Tejnaksh Healthcare Limited

We refer to our report on the financial statements of Tejnaksh Healthcare Limited(theCompany) for the year ended March 31 2019 issued on 28thMay 2019.

This may be treated as an Annexure to our aforesaid Report on financial statements forthe year ended March 31 2019.

i. In respect of its fixed assets:

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets on the basis of available information.

b) As explained to us all the fixed assets have been physically verified by themanagement in a phased periodical manner which in our opinion is reasonable havingregard to the size of the Company and nature of its assets. No material discrepancies werenoticed on such physical verification.

c) The company owns one guest house and the title deed of the same stands in the nameof the company.

d) The company has leased its hospital premises in Koparkhairane Vashi Thane to itssubsidiary company Tejvedaant Healthcare Private Limited. All expenses relating to theacquisition of these premises have been capitalized.

The goodwill recorded in the financial statements has not been amortized but insteadevaluated for impairment whenever events or changes in circumstances indicate that itscarrying amount may be impaired

ii. In respect of its inventories: The company has a system of physicallyverifying its inventory at the pharmacy at reasonable intervals by the management and asexplained to us no material discrepancies were noticed.

iii. In respect of the loans secured or unsecured granted by the Company tocompanies firms or other parties covered in the register maintained under Section 189 ofthe Companies Act 2013 The company has not granted any loans whether secured or unsecuredto any of parties covered in the register maintained under Section 189 of the CompaniesAct 2013 accordingly instant clause is not applicable in this case. iv. According to theinformation and explanations given to us in respect of loans investments guaranteesand security provisions of section 185 and 186 of the Companies Act 2013 have beencomplied with.

v. According to the information and explanations given to us the Company has notaccepted any deposit from the public. Therefore the provisions of Clause (v) of CARO 2016are not applicable to the Company.

vi. The company is in to health care services hence maintenance of cost records asspecified by the Central Government under sub-section (1) of section 148 of the CompaniesAct 2013 is not applicable to company.

vii. In respect of statutory dues:

a) According to the records of the Company undisputed statutory dues includingProvident Fund Employees’ State Insurance Income Tax Sales Tax Wealth TaxService Tax duty of Customs Duty of Excise Value Added Tax Cess and other materialstatutory dues as applicable to company have been generally regularly deposited with theappropriate authorities expect for Goods and service tax as reported below.

Statement of Arrears of Statutory Dues Outstanding for More than Six Months.

Name of the Statute Nature of the Dues Amount (Rs.) Period to which the amount relates Due Date Date of Payment Remarks if any
Goods and Central GST 499866/- 1-4-2017 to -
Services Tax Act 2017 State GST 499866/- 31-3-2018 20-4-2017 27-06-2019 -

According to the information and explanations given to us no undisputed amountspayable in respect of the aforesaid dues were outstanding as at September 30th2018 for a period of more than six months from the date of becoming payable.

b) According to records of company there are no dues of income tax or sales tax orwealth tax or service tax or duty of customs or duty of excise or value added tax or cesshave not been deposited on account of any dispute.

viii. The company has not defaulted in repayment of loans or borrowings to a financialinstitution bank Government or dues to any debenture holder.

ix. According to the information and explanations given to us the company has notraised any monies from the public by way of an Initial Public Offer during the year. x.According to the information and explanations given to us no fraud by the company or anyfraud on the Company by its officers or employees has been noticed or reported during theyear under review.

xi. According to the information and explanations given to us managerial remunerationhas been paid or provided in accordance with the requisite approvals mandated by theprovisions ofsection 197 read with Schedule V to the Companies Act 2013.

xii. Company is not a Nidhi Company.

xiii. According to the information and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013 andthe details have been disclosed in the Financial Statements etc. as required by theapplicable accounting standards;

xiv. According to the information and explanations given to us company has not madeprivate placement of shares during the year under review.

xv. According to the information and explanations given to us the company has notentered into any non-cash transactions with directors or persons connected with him.

xvi. According to the information and explanations given to us the company is notrequired to be registered under section 45-IA of the Reserve Bank of India Act 1934.

For and on behalf of

P.D.Dalal& Co.

Chartered Accountants

Firm Registration No.102047W

Sd/-

(Aashish S. Kakaria)

Partner

Membership No.102915

Mumbai

May 282019

+TEJNAKSH HEALTHCARE LIMITED

Annexure B to the independent Auditor’s Report of even date on the financialstatements of Tejnaksh Healthcare Limited

Report on the internal Financial controls under clause (i) of sub – section 143 ofthe companies Act 2013(the Act) We have audited the internal financial controls overfinancial reporting of Tejnaksh Healthcare Limited (the Company) as of 31st March2019 inconjunction with our audit of the financial statements of the Company for the year endedon 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 financial controls over financial reportingcriteria established by the Company considering the essential components of internalcontrols stated in the Guidance note on Audit of internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India . Theseresponsibilities include the design 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 safeguardingof its assetsthe prevention and detection of frauds and errorsthe accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act2013

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 ICAIand deemed to be prescribed under section 143 (10) of the Companies Act2013 to theextent applicable to an audit of internal financial controls and both issued by theInstitute of Chartered Accountants of India. Those Standards and the Guidance Note requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether adequate internal financial controls over financialreporting was established and maintained and if such controls operated effectively in allmaterial 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 included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of the risks of material misstatement of the financial statements whetherdue to fraud on 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 controlssystem over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A Company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that.

(1) Pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transaction and dispositions of the assets of the company;

(2) Provide reasonable assurance that transaction 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 authorizations of management and directors of the company; and (3) Providereasonable assurance regarding prevention or timely detection of unauthorized acquisitionuse or disposition of the company’s assets that could have a material effect on thefinancial 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. Alsoprojections of any evaluation of the internal financial controls over financial reportingto future periods are subject to the risk that the internal financial control overfinancial reporting may become inadequate because of changes in conditions or that thedegree of compliance with the policies or procedures may deteriorate.

Opinion

According to information and explanations given to us and based on our audit nomaterial weakness have been identified as at 31st March 2019 in the Company relating toinadequate internal financial control over financial reporting. A ‘materialweakness’ is a deficiency or a combination of deficiencies in internal financialcontrol over financial reporting such that there is a reasonable possibility that amaterial misstatement of the company’s annual or interim financial statements willnot be prevented or detected on a timely basis. In our opinion to the best of ourinformation and according to the explanation given to us the company has maintained inall material respects adequate internal financial controls over financial reporting andsuch internal financial controls over financial reporting were operating effectively as of31st March 2019 based on the internal control over financial reporting criteriaestablished by the company considering the essential components of internal controlsstated in the guidance note on Audit of Internal Financial Controls over FinancialReporting issued by the Institute Of Chartered Accountants of India.

For and on behalf of

P.D.Dalal& Co.

Chartered Accountants

Firm Registration No.102047W

Sd/-

(Aashish S. Kakaria)

Partner

Membership No.102915

Mumbai

May 28 2019