iifl-logo

DSM Fresh Foods Ltd Auditor Reports

0
(0%)

DSM Fresh Foods Ltd Share Price Auditors Report

To,

The Board of Directors,

DSM FRESH FOODS LIMITED

115-116, First Floor, Vishal Tower, District Centre,

Janakpuri, Janakpuri B-1, West Delhi, New Delhi, India, 110058

We have examined the attached restated financial information of "DSM FRESH FOODS LIMITED (hereinafter referred to as "the Company" or "the Issuer") comprising the restated statement of assets and liabilities as at 31st March 2025, 31st March 2024, 31st March 2023, restated statement of profit and loss and restated cash flow statement for the financial year ended 31st March 2025, 31st March 2024, 31st March 2023 , and the summary statement of significant accounting policies and other explanatory information (collectively referred to as the "restated financial information" or "restated financial statements") annexed to this report and initialed by us for identification purposes. These Restated Financial Statements have been prepared by the management of the Company and approved by the board of directors at the meeting in connection with the proposed Initial Public Offer in SME Platform ("IPO" or "SME IPO") of BSE Limited ("BSE") of the company.

1. The restated summary statements have been prepared in accordance with the requirements of:

i. ) Section 26 of Part - I of Chapter III of Companies Act, 2013 (the "Act") read with Companies (Prospectus and Allotment of Securities) Rules 2014.

ii. ) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018 ("ICDR Regulations") and related amendments/clarifications from time to time issued by the Securities and Exchange Board of India ("SEBI").

iii. ) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India ("Guidance Note").

2. The Companys Board of Directors is responsible for the preparation of the Restated Financial Statements for inclusion in the Red Herring Prospectus to be filed with Securities and Exchange Board of India ("SEBI"), SME platform of BSE Limited ("BSE") and Registrar of Companies (Registrar Of Companies Delhi & Haryana) in connection with the proposed IPO. The Restated Financial Statements have been prepared by the management of the Company based on preparation stated in Annexure IV to the Restated Financial Statements. The responsibility of the board of directors of the Company includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Statements. The boards of directors are also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

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

(i) The terms of reference and terms of our engagement letter requesting us to carry out the assignment, in connection with the proposed SME IPO.

(ii) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI.

(iii) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Statements.

(iv) The requirements of Section 26 of the Act and the 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 IPO.

4. The Restated Financial Statements of the Company have been compiled by the management from:

(i) Audit for the financial year ended on 31st March 2025,31st March 2024, was conducted by K R A & Co. Chartered Accountants, Statutory Auditor. There are no audit qualifications in the audit reports issued by the statutory and tax auditors for the financial year ended on 31st March 2025, 31st March 2024 which would require adjustments in the Restated Financial Statements of the Company. The financial report included for these period/years is based solely on the report submitted by them dated 09th August 2024 and 22nd July 2025.

(ii) The audit was conducted by the companys previous Auditor, and accordingly reliance has been placed on the financial statement examined by them for the Financial Year 31st March 2023 audit report dated 29th September,2023 by BR Maheswari & Co LLP.

(iii) We have Re-audited the Financial statements of the company in accordance with applicable standard as required under the SEBI ICDR regulations for the financial year ended on 31st March 2025, 31st March 2024, 31st March 2023, prepared in accordance with the Indian Accounting Standards (Indian GAAP) which have been approved by the Board of Directors.

(iv) Based on our examination and according to information and explanations given to us, we are of the opinion that the Restated Financial Statements:

a. We have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/ reclassifications retrospectively in the financial year ended on 31st March 2025, 31st March 2024, 31st March 2023.

b. Do not require any adjustment for modification as there is no modification in the underlying audit reports.

c. There are no extra-ordinary items that need to be disclosed separately in the accounts and requiring adjustments.

d. Have been prepared in accordance with the Act, ICDR Regulations and Guidance Note.

e. Adequate disclosure has been made in the financial statements as required to be made by the issuer as per schedule III of the Companies Act, 2013.

f. The accounting standards prescribed under the Companies act, 2013 have been followed.

g. The financial statements present a true and fair view of the companys accounts.

(v) In accordance with the requirements of the Act including the rules made there under, ICDR Regulations, Guidance Note and engagement letter, we report that:

a. The "Restated Summary Statement of Assets and Liabilities" as set out in Annexure I to this report, of the Company as 31st March 2025, 31st March 2024, 31st March 2023, are prepared by the Company and approved by the Board of Directors. These Restated Summary Statement of Assets and Liabilities 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 Accounts as set out in Annexure IV to this Report.

a.The "Restated Summary Statement of Profit and Loss" as set out in Annexure II to this report, of the Company for the financial year ended on 31st March 2025, 31st March 2024, 31st March 2023, are prepared by the Company and approved by the Board of Directors. These Restated summary Statement of Profit and Loss 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 Accounts as set out in Annexure IV to this Report.

  1. The "Restated Summary Statement of Cash Flow" as set out in Annexure III to this report, of the Company for the financial year ended on 31st March 2025, 31st March 2024, 31st March 2023, are prepared by the Company and approved by the Board of Directors. These Restated summary Statement of Cash Flow 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 Accounts as set out in Annexure IV to this Report.
  2. We have also examined the following other financial information relating to the Company prepared by the management and as approved by the board of directors of the Company and annexed to this report relating to the Company for the financial year ended on 31st March 2025, 31st March 2024, 31st March 2023, proposed to be included in the Red Herring Prospectus/Prospectus ("Offer Document").

    Significant Accounting Policies & other explanatory Notes

    Note 1

    Restated Statement of Share Capital

    Note 2

    Restated Statement of Reserves and Surplus

    Note 3

    Restated Statement of Long Term

    Note 4

    Restated Statement of Deferred Tax Liability (Net)

    Note 5

    Restated Statement of Long-Term Provisions

    Note 6

    Restated Statement of Short-Term Borrowings

    Note 7

    Restated Statement of Trade payables

    Note 8

    Restated Statement of Other Current Liabilities

    Note 9

    Restated Statement of Short-Term Provisions

    Note 10

    Restated Statement of Property, Plant and Equipment and Intangible assets and Depreciation and amortization expense

    Note 11

    Restated Statement of Non-current investment

    Note 12

    Restated Statement of Long-term loans and advances

    Note 13

    Restated Statement of Other Non-Current assets

    Note 14

    Restated Statement of Inventories

    Note 15

    Restated Statement of Trade receivables

    Note 16

    Restated Statement of Cash and cash equivalents

    Note 17

    Restated Statement of Other Short-term loans and advances

    Note 18

    Restated Statement of Other current assets

    Note 19

    Restated Statement of Revenue from Operations

    Note 20

    Restated Statement of Other Income

    Note 21

    Restated Statement of Cost of Material Consumed

    Note 22

    Restated Statement of Change in Inventory (Finished goods/WIP)

    Note 23

    Restated Statement of Employee Benefits Expenses

    Note 24

    Restated Statement of Finance Cost

    Note 25

    Restated Statement of Other Expenses

    Note 26

    Restated Statement of Earnings per equity share

    Note 27

    Restated Statement of MSME

    Note 28

    Restated Statement of CSR Expenses

    Note 29

    Restated Statement of Payments to Directors

    Note 30

    Payment to Auditors (Exclusive of GST)

    Note 32

    Restated Statement of Related Party disclosure as identified by the company and relied upon by the auditors

    Note 34

    (vii) We, K R A & Co. Chartered Accountants have been subjected to the peer review process of the Institute of Chartered Accountants of India ("ICAI") and hold a valid peer review certificate issued by the "Peer Review Board" of the ICAI.

    (viii) This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by 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.

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

    (x) Our report is intended solely for the use of the Board of Directors for inclusion in the Offer Document in connection with the proposed SME IPO. Our report should not be used, referred to, or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or whose hands it may come without our prior consent in writing.

    Yours faithfully,

    For KRA & CO.

    Chartered Accountants

    FRN: 020266N

    Sd/-

    CA Gunjan Arora

    M No: 529042

    Partner

    UDIN: 25529042BMIAPE2967

    PLACE: Delhi

    DATE: 26/07/2025.

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248, DP SEBI Reg. No. IN-DP-185-2016, BSE Enlistment Number (RA): 5016
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.