\Ve have audited the accompanying Standalone financial results of GLOBE MULTI
VENTURES LIMITED (formally know as GLOBE COMMERCIALS LIMITED) (hereinafter
jefened as to the “company ’), for the quarter and year ended March 31st 2024 attached
herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the
SEBI (Listing obligation and disclosure Requirements) Regulations, 2015, as amended
(“Listing Regulations”)
In our opinion and to the best of our information and according to the explanations given to us
the aforesaid standalone annual financial results:
a. are presented in accordance with the Requirement of Regulation 33 oflhe listing regulations
in this regard; and
b. gives a true and fair view in conformity with the recognition and measurement principles
laid down in the applicable Indian Accounting Standards, and other accounting principles
generally accepted in India, of the net profit and other comprehensive income and other
financial information for the year ended 31st March, 2024
BASIS FOR OPINION
We have conducted our audit in accordance with the Standards on Auditing (“SAs”) specified
under section 143 (10) of the Companies Act, 2013 (“the act”). Our responsibilities under
those SAs are further described in the Auditor’s Responsibilities for the Audit of the standalone
financial Result section of our report. We are independent of the company in accordance with
the C ode of Ethics issued by the Institute of Chartered Accountants of India together with the
ethical requirements that are relevant to our audit oflhe standalone financial statements under
the provisions of the Companies Act. 2013 and the Rules there under, and we have fulfilled om
othei ethical responsibilities in accordance with these requirements and the Code of Ethics.
We believe that the audit evidence obtained In us is sufficient and appropriate to provide a
basis for our opinion on the Standalone financial results.
UD1N: 24223292BKAMSM9657
KEY AUDIT MATTERS
Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the standalone financial statements of the cuitent peiiod. These
matters were addressed in the context of our audit of the standalone financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these
matters. (No Key Audit Matters were determined during the Course of our Audit).
INFORMATION OTHER THAN THE STANDALONE FINANC'IAI STATEMENTS
AND AUDITOR'S REPORT FI 1EREON
The Company's Board of Directors is responsible lor 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 ol
this other information, we are required to report that fact. We have nothing to report in this
regard.
MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of
the Companies Act, 2013 (“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 including other comprehensive income, cash flows and changes in equity of the
Company in accordance with the Indian Accounting Standards (lnd AS) prescribed under
section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015,
as amended, 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 C ompany 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 ofDirectors are responsible for overseeing the Company's financial reporting
process.
AUDITOR'S RESPONSIBILITY
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 a 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 skepticism throughout the audit. We also :
1) 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
collusion, forgery, intentional omissions, misrepresentations, or the override of
internal controls.
2) 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) ol 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.
3) Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by management.
4) 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 ol our auditor's report. However, future events or conditions
may cause the Company to cease to continue as a going concern.
5) 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.
Materiality is the magnitude of misstatements in the standalone financial statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the financial statements may be influenced. 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
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 w ith 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, w'e determine those
matters that w'ere 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 rare 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
As required by the Companies (Auditor's Report) Order, 2016. issued by the Central
Government of India in term of sub-section (II) of section 143 of the Companies Act, 2013,
we give in the Annexure “A” a statement on the matters specified in the paragraphs 3 and 4 of
the Order, to the extent applicable.
As required by section 143(3) of the Act, we report that:
a. We have sought and, except for the matters described in the Basis for Qualified
Opinion paragraph, obtained all the information and explanations which to the best
of our knowdedge and belief w;ere necessary for the purpose of our audit;
b. Except for the possible effects of the matter described in the Basis for Qualified
Opinion paragraph above, 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, Statement of Profit and Loss, and Cash Flow Statement dealt
with by this Report are in agreement with the books of account.
d. In our opinion, the aforesaid financial statements compk with the Accounting
Standards specified under Section 133 of the Act, read with Rule 7 ol the
Companies (Accounts) Rules. 2014 and the Companies (Accounting Standards)
Amendment Rules, 2016 Except for the possible effects of the matter described in
the Basis for Qualified Opinion paragraph
e. The matter described in the Basis for Qualified Opinion paragraph above, in our
opinion, may have an adverse effect on the functioning of the Company
f. On the basis of written representations received from the directors as on 31 March,
2024, taken on record by the Board of Directors, none of the directors is disqualified
as on 31 March, 2024, from being appointed as a director in terms of Section 164(2)
of the Act.
g. The qualification relating to the maintenance of accounts and other matters
connected therewith are as stated in the Basis for Qualified Opinion paragraph
above
h. With respect to the adequacy of the internal financial controls over financial
reporting of the Compan\ and the operating effectiveness ol such controls, refer to
our separate Report in "Annexure B‘‘.
i. 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:
a. The Company does not have any pending litigations which would impact its
financial position.
b. The Company did not have any long-term contracts including derivatives contracts
for which there were any material foreseeable losses.
c. There were no amounts which required to be transferred to the Investor Education
and Protection Fund by the Company.
For SMV&Co.,
Chartered Accountants fr^S' \\
KRN: 015630S . . '/«?/
R. Vamsi Krishna ____''4?//
Proprietor
M.NO. 229292
Place: Hyderabad
Date: 30/05/2024
UD1N: 24229292BKAMSM9657
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