A. We have audited the accompanying standalone Ind AS financial statements of M/s PREMIUM
CAPITAL MARKET & INVESTMENTS LIMITED having registered office at 401, Starlit Tower, 4th
Floor, 29 Y N Road, Indore -452003 (M.P.) ("the Company"), (PAN-AABCP2228H), (CIN:-
L67120MP1992PLC007178) which comprise the Balance Sheet as at 31st March, 2025, the Statement of
Profit and Loss, Changes in Equity and 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 Financial Statements").
B. In our opinion and to the best of our information and according to the explanations given to us, except
for the possible effects of the matter described in the Key Audit Matters paragraph, the aforesaid
Standalone Ind AS 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 amend, ("Ind AS") and other accounting principles generally accepted in
India, of the state of affairs of the Company as at 31st March, 2025, the statement of Profit & Loss,
Changes in Equity and its Cash flows for the year ended on that date.
2. Basis for Opinion
We conducted our audit of the Standalone Ind AS financial statements in accordance with the Standards
on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. 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 financial statements
under the provisions of the Companies Act, 2013 and the Rules made there under, 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 opinion on the Standalone financial statements.
3. 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 current period. 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. We have determined the matters
described below to be the key audit matters to be communicated in our report.
4. Information other than the financial statements and auditor's report thereon- Board of Directors'
Report:
A. The Company's board of directors is responsible for the preparation of the other information and
presentation of its report (herein after called as "Board Report) which comprises various information
required under section 134(3) of the Companies Act, 2013. However our opinion on the financial
statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
B. In connection with our audit of the 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.
5. Management's Responsibility for the Audit of the Standalone Financial Statements :
A. 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 and cash flows of the
Company in accordance with the accounting principles generally accepted in India, including the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding of 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 financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
B. In preparing the financial statements, the 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 the 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
also responsible for overseeing the company's financial reporting process.
6. Auditor's Responsibility for the Audit of the Standalone Financial Statements :
A. Our responsibility is to express an Opinion on these standalone financial statements based on our audit.
In conducting our audit, we have taken into account the provisions of the Act, the accounting and
auditing standards and matters which are required to be included in the audit report under the
provisions of the Act and Rules made there under.
B. Our objectives are to obtain reasonable assurance about whether the 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 financial statements.
C. As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
(i) Identify and assess the risks of material misstatement of the 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 control.
(ii) Obtain an understanding of internal financial control relevant to the audit 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 systems.
(iii) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
(iv) 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 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 report. However, future events or conditions may cause the Company to cease to continue as
a going concern.
(v) Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in a
manner that achieves fair presentation.
D. 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
standalone 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 standalone financial statements.
E. 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.
F. 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.
G. From the matters communicated with those charged with governance, we determine those matters that
were of most significance in the audit of the 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.
II. Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2020 ("the Order") issued by the Central
Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "Annexure-
A" a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable.
2. As required by Section 143 (3) of the Act, 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 and Statement of Cash Flows dealt with by this
Report are in agreement with the books of account
D. In our opinion, the aforesaid Standalone financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
E. On the basis of the written representations received from the directors as on 31st March, 2025 taken on
record by the Board of Directors, none of the directors is disqualified as on 31st March, 2025 from being
appointed as a director in terms of Section 164 (2) of the Act.
F. Reporting With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls as mentioned in section 143 (3) (1) refer to
our separate report in "Annexure-B".
G. With respect to the other matters to be included in the Auditor's Report under section 197(16) of the
Act
H. 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:
(i) The Company does not have any pending litigations which would impact its financial position.
(ii) The Company did not have any long-term contracts including derivative contracts for which there
were any material foreseeable losses.
(iii) There were no amounts which were required to be transferred to the Investor Education and Protection
Fund by the Company.
(iv) During the year company has not declared or paid Dividend, therefore no required to comply section
123 of the Companies Act, 2013.
(v)
a) The Management has represented us that, to the best of their knowledge and belief, other than as
disclosed in the notes to the accounts, no funds 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 persons or entities, including foreign entities ("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 to us that, to the best of their knowledge and belief, other than as
disclosed in the notes to the accounts, no funds have been received by the company from any persons
or entities, including foreign entities ("Funding Parties") 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.
c) Based on the audit procedure and information given to us no misstatement found in representations
given in respect of above Para (a) & (b).
FOR M/s S N Gadiya & Co
CHARTERED ACCOUNTANTS
FRN: 002052C
Place:- Indo re CA. Satya Narayan Gadiya
Date:- 27.05.2025 (Proprietor)
UDIN:- 25071229BMIGTG5291 Membership no 071229
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