We have audited the accompanying Standalone
Financial Statements of PREVEST DENPRO
LIMITED ("the Company”), which comprise the
Balance Sheet as at 31 st March, 2025, the
Statement of Profit and Loss, and the Statement
of Cash Flows for the year ended on that date,
and a summary of the significant accounting
policies and other explanatory information
(hereinafter referred to as "the Standalone
Financial Statements”). In our opinion and to
the best of our information and according to
the explanations given to us, the aforesaid
Standalone Financial Statements give the
information required by the Companies Act,
2013 ("the Act”) in the manner so required and
give a true and fair view in conformity with the
Accounting Standards prescribed (AS) under
section 133 of the Act and other accounting
principles generally accepted in India, of the
state of affairs of the Company as at 31st
March, 2025, and its profit and its cash flows
for the year ended on that date.
Basis for opinion
We conducted our audit of the Standalone
Financial Statements in accordance with the
Standards on Auditing specified under section
143(10) of the Act (SAs). Our responsibilities
under those Standards are further described in
the Auditor's Responsibilities for the Audit of
the Standalone Financial Statements section of
our report. We are independent of the Company
in accordance with the Code of Ethics issued by
the Institute of Chartered Accountants of India
(ICAI) together with the independence
requirements that are relevant to our audit of
the Standalone Financial Statements under the
provisions of the Act and the Rules made there
under, and we have fulfilled our other ethical
responsibilities in accordance with these
requirements and the ICAI's Code of Ethics.
We believe that the audit evidence we have
obtained is sufficient and appropriate to provide
a basis for our audit opinion on the Standalone
Financial Statements.
Key Audit Matters
Key audit matters are those matters that, in our
professional judgment, were of most significance
in the audit of the financial statements for the year
ended March 31, 2025. These matters were
addressed in the context of our audit of the
financial statements as a whole and in forming our
opinion thereon and we do not provide a separate
opinion on these matters. We have determined that
there are no key audit matters to communicate in
our report.
Information Other than the Standalone
Financial Statements and Auditor's Report
Thereon
The Company's Board of Directors is responsible
for the preparation of the other information. The
other information comprises the information
included in the Management Discussion and
Analysis, Board's Report including Annexures to
Board's Report, Business Responsibility Report,
Corporate Governance and Shareholder's
Information, but does not include the Standalone
Financial Statements and our auditor's report
thereon. Our opinion on the Standalone Financial
Statements does not cover the other information
and we do not express any form of assurance
conclusion thereon. In connection with our audit
of the Standalone Financial Statements, our
responsibility is to read the other information and,
in doing so, consider whether the other information
is materially inconsistent with the Standalone
Financial Statements or our knowledge obtained
during the course of our audit or otherwise appears
to be materially misstated. If, based on the work
we have performed, we conclude that there is a
material misstatement of this other information, we
are required to report that fact. We have nothing to
report in this regard.
Management's Responsibility for the
Standalone Financial Statements
The Company's Board of Directors is responsible for
the matters stated in section 134(5) of the Act with
respect to the preparation of these Standalone
Financial Statements that give a true and fair view
of the financial position, financial performance and
cash flows of the Company in accordance with the
AS and other accounting principles generally
accepted in India. This responsibility also includes
maintenance of adequate accounting records in
accordance with the provisions of the Act for
safeguarding the assets of the Company and for
preventing and detecting frauds and other
irregularities; selection and application of appropriate
accounting policies; making judgments and
estimates that are reasonable and prudent; and
design, implementation and maintenance of
adequate internal financial controls, that were
operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to
the preparation and presentation of the Standalone
Financial Statements that give a true and fair view
and are free from material misstatement, whether
due to fraud or error. In preparing the Standalone
Financial Statements, management is responsible
for assessing the Company's ability to continue as
a going concern, disclosing, as applicable, matters
related to going concern and using the going
concern basis of accounting unless management
either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do
so. The Board of Directors are responsible for
overseeing the Company's financial reporting
process.
Auditor's Responsibilities for the Audit of
the Standalone Financial Statements
Our objectives are to obtain reasonable assurance
about whether the Standalone Financial Statements
as a whole are free from material misstatement,
whether due to fraud or error, and to issue an
auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in
accordance with SAs will always detect material
misstatement when it exists. Misstatements can
arise from fraud or error and are considered
material if, individually or in the aggregate, they
could reasonably be expected to influence the
economic decisions of users taken on the basis of
these Standalone Financial Statements.
As part of an audit in accordance with SAs, we
exercise professional judgment and maintain
professional scepticism throughout the audit.
We also:
• Identify and assess the risks of material
misstatement of the Standalone Financial
Statements, whether due to fraud or error, design
and perform audit procedures responsive to those
risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis for our opinion
The risk of not detecting a material misstatement
resulting from fraud is higher than for one
resulting from error, as fraud may involve collusior
forgery, intentional omissions, misrepresentations,
or the override of internal control.
• Obtain an understanding of internal financial
controls relevant to the audit in order to design
audit procedures that are appropriate in the
circumstances. Under section 143(3)(I) of the Act,
we are also responsible for expressing our opinion
on whether the Company has adequate internal
financial controls system in place and the
operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies
used and the reasonableness of accounting
estimates and related disclosures made by
management.
• Conclude on the appropriateness of management's
use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a
material uncertainty exists related to events or
conditions that may cast significant doubt on the
Company's ability to continue as a going concern.
If we conclude that a material uncertainty exists,
we are required to draw attention in our auditor's
report to the related disclosures in the Standalone
Financial Statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions
are based on the audit evidence obtained up to the
date of our auditor's report. However, future events
or conditions may cause the Company to cease to
continue as a going concern.
• Evaluate the overall presentation, structure and
content of the Standalone Financial Statements,
including the disclosures, and whether the
Standalone Financial Statements represent the
underlying transactions and events in a manner
that achieves fair presentation.
We consider quantitative materiality and qualitative
factors in (i) planning the scope of our audit work and
in evaluating the results of our work; and (ii) to
evaluate the effect of any identified misstatements
in the Standalone Financial Statements.
We communicate with those charged with
governance regarding, among other matters, the
planned scope and timing of the audit and significant
audit findings, including any significant deficiencies
in internal control that we identify during our audit.
We also provide those charged with governance
with a statement that we have complied with relevant
ethical requirements regarding independence, and
to communicate with them all relationships and
other matters that may reasonably be thought to
bear on our independence, and where applicable,
related safeguards.
From the matters communicated with those
charged with governance, we determine those
matters that were of most significance in the audit
of the Standalone Financial Statements of the
current period and are therefore the key audit
matters. We describe these matters in our auditor's
report unless law or regulation precludes public
disclosure about the matter or when, in extremely
are circumstances, we determine that a matter
should not be communicated in our report because
the adverse consequences of doing so would
reasonably be expected to outweigh the public
interest benefits of such communication.
Report on Other Legal and Regulatory
Requirements
1) As required by Section 143(3) of the Act, based
on our audit we report that:
a) We have sought and obtained all the information
and explanations which to the best of 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 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 Statement of Cash Flow dealt with
by this Report are in agreement with the relevant
books of account.
d) In our opinion, the aforesaid Standalone
Financial Statements comply with the AS
specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of the written representations
received from the directors as on 31 st March,
2025 taken on record by the Board of Directors,
none of the directors is disqualified as on 31 st
March, 2025 from being appointed as a director in
terms of Section 164 (2) of the Act.
f) With respect to the adequacy of the internal
financial controls over financial reporting of the
Company and the operating effectiveness of such
controls, refer to our separate Report in "Annexure A”.
Our report expresses an unmodified opinion on the
adequacy and operating effectiveness of the
Company's internal financial controls over financial
reporting.
g) With respect to the other matters to be included
in the Auditor's Report in accordance with the
requirements of section 197(16) of the Act, as
amended:
In our opinion and to the best of our information
and according to the explanations given to us, the
remuneration paid by the Company to its directors
during the year is in accordance with the provisions
of section 197 of the Act.
h) With respect to the other matters to be included
in the Auditor's Report in accordance with Rule 11
of the Companies (Audit and Auditors) Rules, 2014,
as amended in our opinion and to the best of our
information and according to the explanations
given to us:
i) The Company does not have any pending
litigations which would impact its financial
position.
ii) The Company did not have any long-term
contracts including derivative contracts; as such
the question of commenting on any material
foreseeable losses thereon does not arise.
iii) There was no amount which was required to be
transferred to the Investor Education and
Protection Fund by the company.
iv) (a) The management has represented that, to
the best of its knowledge and belief, other than
as disclosed in the notes to the accounts, no
funds have been advanced or loaned or invested
(either from borrowed funds or share premium
or any other sources or kind of funds) by the
company to or in any other person(s) or entity(ies),
including foreign entities ("Intermediaries"), with
the understanding, whether recorded in writing
or otherwise, that the Intermediary shall, whether,
directly or indirectly lend or invest in other
persons or entities identified in any manner
whatsoever by or on behalf of the company
(“Ultimate Beneficiaries") or provide any
guarantee, security or the like on behalf of the
Ultimate Beneficiaries;
(b) The management has represented, that, to the
best of its knowledge and belief, other than as
disclosed in the notes to the accounts, no funds
have been received by the company from any
person(s) or entity(ies), including foreign entities
("Funding Parties"), with the understanding,
whether recorded in writing or otherwise, that
the company shall, whether, directly or indirectly,
lend or invest in other persons or entities
identified in any manner whatsoever by or on
behalf of the Funding Party ("Ultimate
Beneficiaries") or provide any guarantee, security
or the like on behalf of the Ultimate Beneficiaries.
(c) Based on audit procedures which we considered
reasonable and appropriate in the circumstances,
nothing has come to their notice that has caused
them to believe that the representations under
sub-clause (a) and (b) contain any material mis¬
statement.
v) The final dividend paid by the Company during
the year, in respect of the same declared for the
previous year, is in accordance with Section 123
of the Act to the extent it applies to payment of
dividend. i) Based on our examination which
included test checks, the Company has used
accounting software for maintaining its books of
account, which have a feature of recording audit
trail (edit log) facility and the same has operated
throughout the year for all relevant transactions
recorded in the respective software. Further, where
audit trail (edit log) facility was enabled and
operated throughout the year for the accounting
software, we did not come across any instance of
the audit trail feature being tampered with.
2) As required by the Companies (Auditor's Report)
Order, 2020 (“the Order") issued by the Central
Government in terms of Section 143(11) of the Act,
we give in “Annexure B" a statement on the matters
specified in paragraphs3 and 4 of the Order.
For Mittal & Associates
Chartered Accountant
FRN: 106456W
sd/-
Hemant Bohra
Partner
Membership Number: 165667
UDIN: 25165667BMMLAJ1680
Place: Mumbai
Date:27th May, 2025
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