You are here » Home » Companies » Company Overview » Datamatics Global Services Ltd

Datamatics Global Services Ltd.

BSE: 532528 Sector: IT
NSE: DATAMATICS ISIN Code: INE365B01017
BSE 15:47 | 27 Mar 2018 Datamatics Global Services Ltd
NSE 05:30 | 01 Jan 1970 Datamatics Global Services Ltd
OPEN 105.10
PREVIOUS CLOSE 103.30
VOLUME 23319
52-Week high 152.80
52-Week low 93.00
P/E 13.34
Mkt Cap.(Rs cr) 635
Buy Price 0.00
Buy Qty 0.00
Sell Price 107.75
Sell Qty 314.00
OPEN 105.10
CLOSE 103.30
VOLUME 23319
52-Week high 152.80
52-Week low 93.00
P/E 13.34
Mkt Cap.(Rs cr) 635
Buy Price 0.00
Buy Qty 0.00
Sell Price 107.75
Sell Qty 314.00

Datamatics Global Services Ltd. (DATAMATICS) - Auditors Report

Company auditors report

To the Members of DATAMATICS GLOBAL SERVICES LIMITED (formerly known as DATAMATICSTECHNOLOGIES LIMITED)

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of DATAMATICSGLOBAL SERVICES LIMITED (formerly known as DATAMATICS TECHNOLOGIES LIMITED) ("theCompany") which comprise the Balance Sheet as at March 31 2015 and the Statement ofProfit and Loss and Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors are responsible for the matters stated in Section134(5) of Companies Act 2013 ("the Act") with respect to preparation of thesestandalone financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with 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 standalone financial statementsbased on our audit. We conducted our audit in accordance with the provisions of the Actthe Accounting and Auditing standards and the matters which are required to be included inthe audit report under the provisions 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 anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the Company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of such controls.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of the accounting estimates made by the Company’s Directors as wellas evaluating the overall presentation 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 standalone financial statements.

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:

a) in the case of the Balance Sheet of the state of affairs of the Company as at March312015;

b) in the case of the Statement of Profit and Loss of the profit for the year ended onthat date; and

c) in the case of Cash Flow Statement of the cash flows for the year ended on thatdate.

Emphasis of Matter

With reference to note number 41 to the financial statements regarding theCompany’s investments aggregating Rs. 995976964 in five of its wholly ownedsubsidiaries and loans and advances aggregating Rs. 323408544 to these subsidiaries networth has declined and two of these have incurred losses. As explained in the said notethese investments are for long term and of strategic nature. Accordingly the saidinvestments and loans and advances are considered good and recoverable by the Company. Inview of this we are unable to comment on whether provision if any for the diminution inthe value of investments is required to be made. Our opinion is not qualified in respectof this matter.

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 ("theorder") issued by the Central Government of India in terms of sub-section (11) of 143of the Act we give in the Annexure a statement on the matters specified in the paragraph3 and 4 of the order to the extent applicable.

2. 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 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 Statement of Profit and Loss and Cash Flow Statement dealt withby this report are in agreement with the books of account.

d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under section 133 ofthe Act read with rule 7 oftheCompanies (Accounts) Rules 2014.

e) On the basis ofthe written representations received from the directors as on March312015 and taken on record by the Board of Directors we report that none of thedirectors is disqualified as on March 31 2015 from being appointed as a director in termsof Section 164 (2) of the Act.

f) With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 ofthe Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our knowledge and belief and according to the information andexplanations given to us. In our opinion and to the best of our knowledge and belief andaccording to the information and explanations given to us:

i) The Company has disclosed the impact of pending litigations on its financialposition in its standalone 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.

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

For Kanu Doshi Associates

Chartered Accountants

Firm Registration Number: 104746W

Jyoti Kawa

Partner

Membership No: 105654

Place : Mumbai

Date : May 27 2015

Annexure to the Auditors’ Report

Referred to in paragraph 1 of Report on other legal and regulatory requirement of theAuditor’s report of even date to the members of DATAMATICS GLOBAL SERVICES LIMITED(formerly known as DATAMATICS TECHNOLOGIES LIMITED) for the year ended March 312015;

1. In respect of the fixed assets of the Company:

(a) The Company has generally maintained proper records showing full particularsincluding quantitative details and situation offixed assets.

(b) As explained to us all fixed assets have been physically verified by themanagement at reasonable intervals during the year and no material discrepancies werenoticed on such verification.

2. The Company’s nature of operations does not require it to hold inventories.Consequently clause 3(ii) of the order is not applicable.

3. As informed to us the Company has not granted loans secured or unsecured tocompanies firms or other parties covered in the register maintained under section 189 ofthe Act. Hence sub clauses (a) & (b) of clause 3(iii) of the order are not applicableto the Company.

4. In our opinion and according to the information and explanations given to us thereare adequate internal control procedures commensurate with the size of the Company and thenature of its business with regard to purchase of fixed assets and with regard to the saleof goods and services. During the course of our audit we have not observed any continuingfailure to correct major weaknesses in internal control system.

5. In our opinion and according to the information and explanations given to us theCompany has not accepted deposits during the year and do not have any unclaimed deposits.Therefore the provisions of the clause 3(v) of the Order are not applicable to theCompany. .

6. We have been informed that the Central Government has not prescribed maintenance ofcost records under section 148 (1) of the Act.

7. According to the information and explanations given and on the basis of recordsproduced before us:

(a) The Company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund investor education and protectionfund employees’ state insurance income tax sales tax wealth tax service taxcustom duty excise duty cess and other material statutory dues applicable to it.According to the information and explanations given to us no undisputed arrears ofstatutory dues were outstanding as at March 31 2015 for a period of more than six monthsfrom the date they became payable.

(b) The disputed statutory dues aggregating Rs. 5024525/- pending before theappropriate authorities are as under:

Sr. No. Name of the Statute Nature of the dues Forum where the dues is pending Amount in Rs.
1 Sales Tax Act Sales Tax Asst. Commissioner of Sales Tax 5024525
Total 5024525

8. The Company does not have any accumulated losses at the end of the financial year.The Company has not incurred cash losses in the current financial year and in theimmediately preceding financial year.

9. In our opinion and according to the information and explanations given to us theCompany has not defaulted in repayment of dues to a financial institution bank ordebenture holders.

10. In our opinion and according to the information and explanations given to us theterms and conditions on which the Company has given guarantees for loans taken by itssubsidiaries from banks are not prima facie prejudicial to the interest of the Company.

11. The term loans have been used for the purpose they were applied for.

12. To the best of our knowledge and belief and according to the information andexplanations given to us we have neither come across any instance of material fraud on orby the Company noticed or reported during the year nor have we been informed of any suchcase by the Management.

For Kanu Doshi Associates

Chartered Accountants

Firm Registration Number: 104746W

Jyoti Kawa

Partner

Membership No: 105654

Place : Mumbai

Date : May 27 2015