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Broach Lifecare Hospital Ltd Auditor Reports

21.5
(7.50%)
May 29, 2025|12:00:00 AM

Broach Lifecare Hospital Ltd Share Price Auditors Report

To,

The Board of Directors,

BROACH LIFECARE HOSPITAL LIMITED

Dear Sirs,

1. We K K Haryani & Co, Chartered Accountants ("we") have examined the attached Restated Financial Information of BROACH LIFECARE HOSPITAL LIMITED ("the Company"), comprising the Restated Assets and Liabilities as at March 31, 2024, the Restated Statements of Profit and Loss (including other comprehensive income) for period ended on March 31, 2024 the Restated Statement of changes in Equity, the Restated Cash Flow Statement for the period ended March 31, 2024 the Summary statement of Significant Accounting Policies and other explanatory information (collectively the "Restated Financial Information") as approved by the Board of Directors of the Company for the purpose of inclusion in the Prospectus, prepared by the Company in connection with its proposed Initial Public Offer of equity shares (IPO) in SME Platform of BSE Limited ("BSE SME") prepared in terms of the requirements of:

a) Section 26 of Part I of Chapter Ill of the Companies Act, 2013 ("the Act") read with Rules 4 to 6 of Companies (Prospectus and Allotment of Securities) Rules, 2014 ("the Rules");

b) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended from time to time in pursuance of provisions of Securities and Exchange Board of India Act, 1992 ("ICDR Regulations"); and

c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India (ICAI), as amended from time to time (the Guidance Note)

2. The Companys Board of Directors are responsible for the preparation of Restated Financial Information for the purpose of inclusion in the Prospectus to be filled with Securities and Exchange Board of India, Stock exchange and Registrar of Companies, Ahmedabad, Gujarat in connection with the proposed IPO. The Restated Financial Information have been prepared by the management of the company on the basis of preparation stated in notes to the Restated Financial Information.

Managements responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Information. Management also responsible for identifying and ensuring that the Company complies with the Companies Act, ICDR Regulations and the Guidance Note.

3. We have examined such Restated Financial Information taking into consideration:

a) The terms of reference and terms of our engagement agreed upon with the company in accordance with our engagement letter in connection with the proposed IPO of equity shares of the Company;

b) The Guidance Note. The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAl; and

c) The requirements of Section 26 of the Company Act, 2013 and the SEBI (ICDR) Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the propose IPO.

4. These Restated Financial Information have been compiled by the management from:

a) the Audited Financial Statements of the company for the financial years / period ended on March 31, 2024 which have been approved by Board of directors at their meeting held on 22nd May, 2024

5. In accordance with the requirements of Act, SEBI ICDR Regulations, Guidance Note on the reports in Company Prospectus (Revised) issued by ICAI and the terms of our Engagement Letter, we further report that:

a) The "Restated Statement of Assets and Liabilities" as set out in Annexure 1 to this report, of the Company as at March 31, 2024, are prepared by the Company and approved by the Board of Directors. This Statement of Assets and Liabilities, as restated have been arrived at after making such adjustments and regroupings to the individual Financial Statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to the Restated Summary Statements as set out in Annexure 4(A) to this Report.

b) The "Restated Statement of Profit and Loss" as set out in Annexure 2 to this report, of the Company for financial year/ period ended on March 31, 2024, are prepared by the Company and approved by the Board of Directors. This Statement of Profit and Loss, as restated have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to the Restated Summary Statements as set out in Annexure 4(A) to this Report.

c) The "Restated Statement of Cash Flow" as set out in Annexure 3 to this report, of the Company for financial year / period ended on March 31, 2024, are prepared by the Company and approved by the Board of Directors. This Statement of Cash Flow, as restated, have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Restated Summary Statements as set out in Annexure 4(A) to this Report.

Based on the above and also as per the reliance placed by us on the audited financial statements of the company and auditors report thereon which have been prepared by Statutory Auditor of the Company for the financial year / period ended on March 31, 2024, we are of the opinion that The Restated Financial Statements or Restated Summary Statements have been made after incorporating:

Adjustments for the changes in accounting policies retrospectively in respective financial period / years to reflect the same accounting treatment as per the changed accounting policy for all reporting period if any;

Adjustment for any material amounts in the respective financial years / period have been made to which they relate;

They do not contain any extra-ordinary items that needs to be disclosed separately except as shown in the Restated Financial Information;

There are no revaluation reserves, which needs to be disclosed separately in the Restated Financial Statement.

There are no qualifications in the Audit Report issued by statutory auditors for the financial year / period ended on March 31, 2024, which would require adjustments in this Restated Financial Statement of the Company.

The Company has not paid dividend on its equity shares during the reporting period.

We have also examined the following Restated financial information of the Company set out in the Annexure as prepared by the management and approved by the Board of Directors of the company for the financial year / period ended March 31, 2024, proposed to be included in the Draft Prospectus / Prospectus ("Offer Document") for the proposed IPO:

Annexure - 4(A): Significant Accounting Policies and Notes to Accounts as restated

Annexure - 4(B): Reconciliation of Restated Profit & Audit Profit

Annexure - 4(C): Reconciliation of Restated Equity / Net-worth

Annexure - 5: Restated Statement of Share Capital

Annexure - 6: Restated Statement of Reserves & Surplus

Annexure - 7: Restated Statement of Long-term Borrowings

Annexure - 8: Restated Deferred Tax Liabilities

Annexure - 9: Restated Statement of Short-term Borrowings

Annexure - 10: Restated Statement of Trade Payables

Annexure - 11: Restated Statement of Other Current Liabilities

Annexure - 12: Restated Statement of Short-Term Provisions

Annexure - 13: Restated Statement of Property, Plant and Equipment

Annexure - 14: Restated Statement of Deferred Tax Assets (Net)

Annexure - 15: Restated Statement of Long Term Loans and Advances Annexure - 16: Restated Statement of Other non-Current Assets Annexure - 17: Restated Statement of Inventories Annexure - 18: Restated Statement of Trade Receivables Annexure - 19: Restated Statement of Cash and Cash Equivalents Annexure - 20: Restated Statement of Short-Term Loans and Advances Annexure - 21: Restated Statement of Other Current Assets Annexure - 22: Restated Statement of Revenue from Operations Annexure - 23: Restated Statement of Other Income Annexure - 24: Restated Statement of Cost Of Services Annexure - 25: Restated Statement of Employee Benefit Expenses Annexure - 26: Restated Statement of Finance Cost

Annexure - 27: Restated Statement of Depreciation and Amortization Expense

Annexure - 28: Restated Statement of Other Expenses

Annexure - 29: Restated Statement of Extra Ordinary Items

Annexure - 30: Restated Statement of Deferred Tax

Annexure - 31: Restated Statement of Contingent Liabilities

Annexure - 32: Restated Statement of Accounting Ratios

Annexure - 33: Restated Statement of Related Party Transactions

Annexure - 34: Restated Statement of Segment Reporting

Annexure - 35: Restated Statement of Capitalization

Annexure - 36: Restated Statement Tax Shelter

This report should not in any way be construed as re-issuance or re-dating of any of the previous audit reports issued by us or any other firm of Chartered Accountants, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

We have no responsibility to update our report for events and circumstances occurring after the date of the report.

The preparation and presentation of the Financial Statements referred to above are based on the Audited financial statements of the Company in accordance with the provisions of the Act and the Financial Information referred to above is the responsibility of the management of the Company.

In our opinion, the above financial information contained in Annexure 1 to 36 and read along with the Restated Statement of Significant Accounting Polices and Notes as set out in Annexure 4(A) are prepared after making adjustments and regrouping as considered appropriate and have been prepared in accordance with paragraph B, Part II of Schedule II of the Act, the SEBI ICDR Regulations, The Revised Guidance Note on Reports in Company Prospectus and Guidance Note on Audit Reports/Certificates on Financial Information in Offer Documents issued by the Institute of Chartered Accountants of India ("ICAI") to the extent applicable, as amended from time to time, and in terms of our engagement as agreed with you. We did not perform audit tests for the purpose of expressing an opinion on individual balances of account or summaries of selected transactions, and accordingly, we express no such opinion thereon.

The company has taken over business of Vyass Hospital (proprietary concern) w.e.f. 1st July, 2023 as per business purchase agreement and all the assets and liabilities of the proprietary concern as on date of business purchase agreement became assets and liabilities of the company.

We, K K Haryani & Co., Chartered Accountants have been subjected to peer review process of the Institute of Chartered Accountant of India (ICAI) and hold a valid peer review certificate No: 015994 dated 01/01/2024 issued by the "Peer Review Board" of the ICAI.

Our report is intended solely for use of the management for inclusion in the offer document to be filed with IPO SME in connection with the proposed issue of Equity Shares of the Company. Our report should not be used, referred to or distributed for any other purpose except with our prior consent in writing.

For K K Haryani & Co.

Chartered Accountants

Firm Regn No. - 121950W

Sd\-

Kishor K. Haryani

Proprietor

Mem. No. 110780

Bharuch 4th July, 2024

UDIN - 24110780BJZXTV8855.

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