Wo have audited the accompanying standalone financial statements of
UNIPRO TECHNOLOGIES LIMITED, which comprise the Balance Sheet as
at 31s1 March, 2024, the Statement of Profit and Loss (including Other
Comprehensive Income), the Statement of Changes in Equity 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
Indian Accounting Standards prescribed under section 133 of the Act read
with the Companies (Indian Accounting Standards) Rules, 2015, as
amended, (“Ind AS”) and other accounting principles generally accepted in
India, of the state of affairs of the Company as at March 31, 2024, the loss
and total comprehensive income, changes in equity 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)
ot 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 thereunder,
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
Kev audit matters are those matters that, in our professional judgment
were of most significance in our audit of the standalone financial statements
of the current period. These matters were addressed m 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.
Emphasis of Matter
i The company has reported the value of closing stocks as per the
physical verification at the end of the financial year. The net impact of
the opening and actual closing stocks of inventories has accounted in
profit and loss account for the year.
ii. The net worth as on 31-03-2024 is Rs. (54,19,476)/-.
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, Boards 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, total comprehensive income, changes in equity and
cash flows of the Company in accordance with the Ind 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 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
are 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 collusion, forgery, intentional omissions, misrepresentations, or
the override of internal controls.
• 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 an
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
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.
• 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 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 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
1. As required by the Companies (Auditor’s Report) Order,—2016 (“the
Order”) issued by the Central Government in terms of Section 143(11) of
the Act, we give in “Annexure- A” a statement on the matters specified in
paragraphs 3 and 4 of the order.
2. 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 including Other
Comprehensive Income, Statement of Changes in Equity and the
Statement of Cash Flow dealt with by this Report agree w-ith the
relevant books of account.
d) In our opinion, the aforesaid standalone financial statements comply
with the Ind AS specified under Section 133 of the Act.
e) On the basis of the written representations received from the directors
as on March 31, 2024, taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2024, 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- B”.
g) On the basis of the written representations received from the directors
as on March 31, 2024, taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2024, from being
appointed as a director in terms of Section 164 (2) of the Act.
h) With respect to the other matters to be included in the Auditors
Report in accordance with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our
information and according to the explanations given to us:
a. The Company has disclosed pending litigations on its financial
position in its standalone financial Statements. ^
b The Company has made a provision, as required under the
applicable law or accounting standards, for material foreseeable
losses, if any, on long-term contracts including derivative
contracts.
c. There has been no delay in transferring amounts required to be
transferred, to the Investor Education and Protection Fund by the
company. , .
d. A) The management has represented that, to the best ot its
knowledge and belief, no funds (which are material either
individually or in the aggregate) 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 or entity, including foreign entity (“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 ot its
knowledge and belief, no funds (which are material either
individually or in the aggregate) have been received by the
company from any person or entity, including foreign entity 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;
e. The company has neither declared nor paid any dividend during
the year as per Section 123 of the Act.
f. Based on our examination, which included test checks, the
Company has used accounting software’s for maintaining its
books of account for the financial year ended March 31, 2024,
which has a feature of recording audit trail (edit log) facility and
the same has operated throughout the year for all relevant
transactions recorded in the software’s. Further, during the course
of our audit we did not come across any instance of the audit trail
feature being tampered with.
As proviso to Rule 3(1) of the Companies (Accoxinta) Rule«.2014m
applicable from April 1, 2023, reporting under Well« ofU*
Companies (Audit and Auditors) Rules, 20 on p ^ j8
audit trail as per the statutory requirements for reco
not applicable for the financial year ended March Ji, ^ u •
ForV.Ravi fit Co.,
Chartered Accountants
^^gmFteg No. 006492S
Place: Hyderabad Kumar D
Date: 18-08-2024 r
RTembership No. 217139
UD1N:24217139BKBMHN7348
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