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Hexaware Technologies Ltd.

BSE: 532129 | NSE: HEXAWARE | Series: NA | ISIN: INE093A01033 | SECTOR: Computers - Software

BSE Live

Oct 30, 16:00
470.75 0.00 (0.00%)
Volume
No Data Available
21,204
  • Prev. Close

    470.75

  • Open Price

    470.10

  • Bid Price (Qty.)

    470.50 (500)

  • Offer Price (Qty.)

    470.75 (208)

Hexaware Technologies is not traded on BSE in the last 30 days

NSE Live

Oct 30, 15:59
470.80 0.00 (0.00%)
Volume
No Data Available
268,017
  • Prev. Close

    470.80

  • Open Price

    470.55

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    470.80 (620)

Hexaware Technologies is not traded on NSE in the last 30 days

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

We have audited the accompanying financial statements of HEXAWARE TECHNOLOGIES LIMITED (the Company), which comprise the Balance Sheet as at 31st December, 2014, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements The Company''s Management is responsible for the preparation of these 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 Accounting Standards specified under the Companies Act, 1956 (the Act) (which are deemed to be applicable as per Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014) and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditors'' Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor''s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31st December, 2014; (b) in the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date; and (c) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) Order, 2003 (the Order) issued by the Central Government in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order for the year ended 31st December, 2014, to the extent the same are applicable to the Company. 2. As required by Section 227(3) of the Act, we report that: (a) We have 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 Cash Flow Statement dealt with by this Report are in agreement with the books of account. (d) In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards specified under the Companies Act, 1956 (the Act) (which are deemed to be applicable as per Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014). (e) Since the provisions of Section 274(1)(g) of the Act are not in effect from April 1, 2014, the reporting requirement under Section 227(3)(f) of the Act is not applicable as of the balance sheet date. Annexure to the Independent Auditor''s Report Re: Hexaware Technologies Limited (Referred to in paragraph 1 under ''Report on Other Legal and Regulatory Requirements'' section of our report of even date) i) In respect of its fixed assets: a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. b) As per information and explanations given to us, physical verification of fixed assets was carried out by the Management during the year and no material discrepancies were noticed on such verification. In our opinion, the frequency of verification is reasonable having regard to the size of the Company and nature of its assets. c) The fixed assets disposed off during the year, in our opinion do not constitute a substantial part of the fixed assets of the Company and such disposal has, in our opinion, not affected the going concern status of the Company. ii) The activities of the Company and the nature of its business do not involve the use of inventory. Accordingly, Clause 4(ii) of the Companies (Auditor''s Report) Order, 2003 is not applicable. iii) The Company has neither granted nor taken any loans, secured or unsecured, to/from companies, firms or other parties covered in the Register maintained under Section 301 of the Companies Act, 1956, during the period the said Section was applicable. Accordingly, Clause 4(iii) of the Companies (Auditor''s Report) Order, 2003 is not applicable to the Company. iv) In our opinion, and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and nature of its business for the purchase of fixed assets and for the sale of services. The activities of the Company do not involve purchase of inventory and sale of goods. During the course of our audit, we have not observed any major weaknesses in such internal control system. v) In respect of contracts and arrangements entered in the Register maintained in pursuance of Section 301 of the Companies Act, 1956, to the best of our knowledge and belief and according to the information and explanations given to us: a) The particulars of contracts or arrangements referred to in Section 301 that needed to be entered into the Register maintained under the said Section have been so entered for the period the said Section was applicable. b) Where each of such transactions made in pursuance of such contracts or arrangements entered in the register maintained under Section 301 of the Companies Act, 1956, for the period the said Section was applicable, is in excess of Rs. 5 lacs during such period in respect of any party, the transactions have been made at prices, which are, prima facie, reasonable having regard to the prevailing market prices at the relevant time. vi) During the period the provisions of Sections 58A and 58AA and other relevant provisions of the Companies Act, 1956 and the Companies (Acceptance of Deposits) Rules, 1975 with regard to the acceptance of deposits from the public were applicable, in our opinion and according to the information and explanations given to us, the Company has not accepted such deposits. Therefore, the provisions of Clause 4 (vi) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company. vii) In our opinion, the internal audit functions carried out during the year by the firm of Chartered Accountants appointed by the Management have been commensurate with the size of the Company and nature of its business. viii) According to the information and explanations given to us, the Central Government has not prescribed maintenance of cost records under clause (d) of sub-section (1) of Section 209 of the Act, for the period the said Section was applicable. Therefore, the provisions of Clause 4 (viii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company. ix) According to the information and explanations given to us in respect of statutory dues: a) The Company has generally been regular in depositing undisputed statutory dues, including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income-tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Cess and other material statutory dues applicable to it with the appropriate authorities. b) There were no undisputed amounts payable in respect of Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income-tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty, Cess and other material statutory dues were in arrears as at 31st December, 2014 for a period of more than six months from the date they became payable. c) There are no dues of Income-tax, Sales Tax, Wealth Tax, Service Tax, Customs Duty and Cess, which have not been deposited as on 31st December, 2014 on account of disputes, except as follows: Name of statute Nature of the Amount Period to dues (Rs. in Million) which the amount relates Income Tax Act, 1961 Income Tax 1.46 Assessment Year 2009-10 Income Tax Act, 1961 Income Tax 4.17 Assessment Year 2010-11 Income Tax Act, 1961 Income Tax 2.76 Assessment Year 2011-12 Name of statute Forum where dispute is pending Income Tax Act, 1961 Commissioner of Income Tax (Appeals) Income Tax Act, 1961 Commissioner of Income Tax (Appeals) Income Tax Act, 1961 Commissioner of Income Tax (Appeals) x) The Company does not have accumulated losses at the end of the financial year and the Company has not incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year. xi) In our opinion and according to the information and explanations given to us, the Company has not borrowed any amounts from financial institutions, banks or by issue of debentures. xii) According to the information and explanations given to us, the Company has not given any loans and advances on the basis of security by way of pledge of shares, debentures and other securities and hence the question of maintenance of adequate records for this purpose does not arise. xiii) According to the information and explanations given to us, the Company is not a chit fund or a nidhi/ mutual benefit fund/ society. Therefore, the provisions of Clause 4 (xiii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company. xiv) According to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments. Therefore, the provisions of Clause 4 (xiv) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company. xv) According to the information and explanations given to us, the Company has not given guarantees for loans taken by others from bank and financial institutions. Therefore, the provision of Clause 4 (xv) of the Companies (Auditor Report) Order, 2003 are not applicable to the Company. xvi) The Company has not taken any term loan during the year. Therefore, the provision of Clause 4 (xvi) of the Companies (Auditor Report) Order, 2003 are not applicable to the Company. xvii) In our opinion and according to information and explanations given to us, and on an overall examination of the Balance Sheet of the Company, we report that funds raised on short-term basis have, prima facie, not been used during the year for long-term investment. xviii) According to the information and explanations given to us, the Company has not made any preferential allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Companies Act, 1956, during the period the said Section was applicable. xix) The Company has not issued any debentures during the year, hence the question of creation of security or charge in respect of debentures issued does not arise. xx) The Company has not raised any money by way of public issues during the year. xxi) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year. For Deloitte Haskins & Sells LLP Chartered Accountants (Firm''s Registration No. 117366W/W-100018) Abhijit A. Damle Partner (Membership No. 102912) MUMBAI, 10th February, 2015