Premier Polyfilm Ltd. — Audit Report / Information 2021

Jun 29, 2021

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*	PREMIER POLYFILM LTD.	*
*	305,THIRD FLOOR, ELITE HOUSE,36,COMMUNITY CENTRE,	*
*	KAILASH COLONY EXT. (ZAMROODPUR)	*
*	NEW DELHI 110 048	*
*	CIN NO. L25209DL1992PLC049590	*
*	Phone 011-29246481	*
*	Email : compliance.officer@premierpoly.com, Website :www.premierpoly.com	*
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PPL/SECT/2021-22 Date : 29/06/2021

BSE LIMITED NATIONAL STOCK EXCHANGE OF INDIA LTD.

SUBJECT:- SUBMISSION OF AUDIT REPORT ON THE STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH,2021.

REGARDING COMPANY CODE: NSE: PREMIERPOL, BSE 514354

Dear Sir\Madam,

In compliance of Clauses of the Listing Agreement, we enclose a copy of Audit Report on the Standalone Audited Financial Results for the quarter and year ended 31st March,2021 duly issued and signed by Statutory Auditors of the Company i.e. M/s MARS & Associates, Chartered Accountants.

This is for your information and records.

Thanking you,

Yours faithfully, For PREMIER POL Y~ILM LTD., /4'i·--1-, .

N. K. BHANDARI COMPANY SECRETARY

Enclosed : As above

M A R S & ASSOCIATES

Chartered AccountantE 27, Ground Floor, Astha Kunj DDA Flat~ Faiz Road, Karol Bagh, Delhi-11000: E-Mail: rnarsandassociates@grnail.corr Web: www.marsandassociates.con· Tel: 011-4513737E

INDEPENDENT AUDITOR'S REPORT ON QUARTERLY & YEARLY STANDALONE AUDITED FINANCIAL RESULTS OF .MIS PREMIER POL YFILM LIMITED FOR THE QUARTER AND THE FINANCIAL YEAR ENDED 31 5r MARCH 2021 PURSUANT TO REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND QISCLOSURE REQUIREMENTS) REGULATIONS 2015.

To

The Board of Directors of Premier Polyfilm Limited, New Delhi

Opinion

We have audited the accompanying Quarterly & Yearly Standalone Audited Financial Results of MIS PREMIER POLYFILM LIMITED (the "Company"), for the quarter and year ended 31.03.2021 ('the statement') attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, these financial results:

• a) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
• b) gives atrue and fair view in conformitywith the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31st March, 2021 . ,

Basis of Opinion

We conducted our audit of the Statement in accordance with the Standards on Auditing ("SA"s) specified under Section 143( 1 0) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Results 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 ethical requirements that are relevant to our audit of the Financial Statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the !CAl's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's responsibility for the Financial Results

This statement has been prepared on the basis of standalone annual financial statements. The Company's management and Board of Directo~s are responsible for the preparation and prescniat1on of the statement that give a true and fair view of the net profit comprehensive income

MA-RS & ASSOCIATEE, Chartered Accountant! '

27, Ground Floor, Astha Kunj DDA Flat! Faiz Road, Karol Bagh, Delhi-11000: : E-Mail: marsandassociates@gmail.corr : Web: www.marsandassociates.corr 1 Tel: 011-4513737 1

'

and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed urider Section 133 of the Act read with relevant rules and other issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

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 results that give a true and fair view· and are free from material misstatement, whether due to fraud or error.

In preparing the financial results , the Board of Directors are 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 Board of Directors 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.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results 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 this financial results.

As part of t;~n audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial results, 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.
• Obtain an understanding of. internal 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.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

M A R S & ASSOCIATES

Chartered Accountants 27, Ground Floor, Astha Kunj DDA Flat~ Faiz Road, Karol Bagh, Delhi-110005 E-Mail: marsandassociates@gmail.com Web: www.marsandassociates.com Tel: 011-45137378

• Conclude on the appropriateness of the Board of Directors' 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 results 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.
• Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation .

. 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.

For M A R S & Associates Chartere «:-~

Dated: June 29th, 2021 Place: New Delhi