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Affle India Ltd.

BSE: 542752 Sector: IT
NSE: AFFLE ISIN Code: INE00WC01027
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OPEN 981.05
PREVIOUS CLOSE 967.15
VOLUME 40112
52-Week high 1510.15
52-Week low 768.00
P/E 223.00
Mkt Cap.(Rs cr) 12,599
Buy Price 945.05
Buy Qty 2.00
Sell Price 945.50
Sell Qty 89.00
OPEN 981.05
CLOSE 967.15
VOLUME 40112
52-Week high 1510.15
52-Week low 768.00
P/E 223.00
Mkt Cap.(Rs cr) 12,599
Buy Price 945.05
Buy Qty 2.00
Sell Price 945.50
Sell Qty 89.00

Affle India Ltd. (AFFLE) - Auditors Report

Company auditors report

TO THE MEMBERS OF AFFLE (INDIA) LIMITED

Opinion

We have audited the accompanying standalone financial statements ofAffle (India) Limited ("the Company") which comprise the Balance Sheet as atMarch 31 2021 the Statement of Profit and Loss including the Statement of OtherComprehensive Income the Cash Flow Statement and the Statement of Changes in Equity forthe year then ended and notes to the financial statements including a summary ofsignificant accounting policies and other explanatory information In our opinion and tothe best of our information and according to the explanations given to us the aforesaidstandalone financial statements give the information required by the Companies Act 2013as amended ("the Act") in the manner so required and give a true and fair viewin conformity with the accounting principles generally accepted in India of the state ofaffairs of the Company as at March 31 2021 its profit including other comprehensiveincome its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statements inaccordance with the Standards on Auditing (SAs) as specified under section 143(10) of theAct. Our responsibilities under those Standards are further described in the 'Auditor'sResponsibilities for the Audit of the Standalone Financial Statements' section of ourreport. We are independent of the Company in accordance with the 'Code of Ethics' issuedby the Institute of Chartered Accountants of India together with the ethical requirementsthat are relevant to our audit of the financial statements under the provisions of the Actand the Rules thereunder and we have fulfilled our other ethical responsibilities inaccordance with these requirements and the Code of Ethics. We

believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the standalone financialstatements.

Emphasis of Matter

We draw your attention to note 38.1 to the financial statements whichindicate that business combination under common control has been accounted for usingpurchase method in accordance with previous GAAP resulting in recognition of goodwillamounting to INR 59.24 million as on March 31 2021 as prescribed under court schemeinstead of using pooling of interest method as prescribed under Ind AS 103 BusinessCombinations as the approved court scheme will prevail over applicable accountingstandard.

Our opinion is not modified in respect of this matter.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the standalone financial statements for thefinancial year ended March 31 2021. These matters were addressed in the context of ouraudit of the standalone financial statements as a whole and in forming our opinionthereon and we do not provide a separate opinion on these matters. For each matter belowour description of how our audit addressed the matter is provided in that context.

We have determined the matters described below to be the key auditmatters to be communicated in our report. We have fulfilled the responsibilities describedin the Auditor's responsibilities for the audit of the standalone financial statementssection of our report including in relation to these matters. Accordingly our auditincluded the performance of procedures designed to respond to our assessment of the risksof material misstatement of the standalone financial statements. The results of our auditprocedures including the procedures performed to address the matters below provide thebasis for our audit opinion on the accompanying standalone financial statements.

Key audit matters How our audit addressed the key audit matter
Revenue recognition and recoverability of trade receivables and contract assets (as described in Note 18 of the standalone financial statements)
Our audit procedures included the following amongst others:
The Company derives its revenue mainly from rendering of mobile advertising services using a network of publishers. The Company recognizes revenue from its customers at the time of delivery of advertisement. We identified revenue recognition as a key audit matter because revenue is one of the Company's key performance indicators and there is an inherent risk around the accuracy of revenue recorded which is dependent upon reconciliations of billing data as per Company records with those of customer. • We obtained an understanding of the systems processes and controls implemented by the Company for recording revenues.
Further the Company has a significant balance of trade receivables and contract assets amounting to Rs INR 983.49 Mn as at March 31 2021. The Company has determined the allowance for credit losses based on past experience and adjusted to reflect current and estimated future economic conditions. • We have tested the operating effectiveness of the controls related to revenues and associated receivables and contract assets.
Due to significance of carrying values of trade receivables and contract assets and judgments involved in assessing recoverability of trade receivables and contract assets and calculating the expected credit losses this matter was considered key audit matter to our audit. • For a sample of transactions we performed the following procedures:
a. assessed the supporting documents including inspection of contractual terms and conditions release order from customers delivery documents in the form of email confirmation
b. tested the reconciliation of service provided to the customer with the amount of invoice raised.
• We assessed the Company's accounting policies relating to revenue recognition.
Our audit procedures on the carrying value of trade receivables and contract assets included the following amongst others:
• We obtained an understanding of the systems processes and controls implemented by the Company for recording allowance for credit losses.
• We tested the ageing of contract assets and trade receivables for a sample of invoices;
• We obtained direct confirmation of trade receivables and performed other alternate procedures which included testing of invoice testing of customer purchase/release order and subsequent collection of invoices for the confirmations not received
• We tested billings and receipts after year-end
• We examined the Company's assessment of recoverability basis historical payment patterns and macroeconomic information.
• We tested the management computation of the allowance for credit loss.

Internally generated intangible assets (as described in Note 4 ofthe standalone financial statements)

Our audit procedures included the following amongst others:
The Company recognizes internally generated intangible assets i.e. software and application platform amounting to INR 177.16 Mn. Initial recognition is based on assessing each project in relation to specific recognition criteria that needs to be met for capitalization. The assessment involves management judgment on matters such as technical feasibility intention and ability to complete the development of such intangible asset ability to use or sell the asset generation of future economic benefits and the ability to measure costs reliably. Due to the materiality of the assets recognized and the level of management judgement involved being significant initial recognition and measurement of internally generated intangible assets is a key audit matter. • We assessed the management process and procedures related to initial recognition criteria for intangible assets allocation of budgets measurement of time recorded on development and establish the basis for capitalization.
• We tested the amount capitalized from the underlying records and information for expenses;
• We performed inquires with management regarding key assumptions used and estimates made in capitalizing development costs and assessed those assumptions and estimates.
• We also considered the useful economic life attributed to the assets.

Impairment of goodwill and other intangible assets (as described inNote 2(x) of the standalone financial statements)

The Company holds significant amounts of goodwill and intangible assets arising from business combinations and including self-generated and other intangibles on the balance sheet amounting to INR 311.54 Mn. Accounting Standard ('Ind AS') 36 "Impairment of Assets requires management to test the goodwill for impairment as part of the non-current assets of (groups of) Cash Generating Unit ("CGUs") to which it is allocated both annually and if there is a trigger for testing. Our audit procedures on impairment test included the following amongst others:
Such goodwill and other intangible assets are tested for impairment using discounted cash-flow model of the CGU's recoverable value compared to the carrying value of the assets. A deficit between the recoverable value and the CGU's net assets would result in impairment. • We assessed the key information used in determining the valuation including the weighted average cost of capital cash flow forecasts and the implicit growth.
In view of the COVID-19 pandemic the management reassessed its future business plans and key assumptions as at March 31 2021 while assessing the adequacy of impairment provision. The impairment tests were a key audit matter due to the significant judgements and assumptions made by management which are affected by uncertainties around future market or economic conditions. • We assessed the Company's valuation methodology applied in determining the value in use;
• We assessed the assumptions used in the cash flow forecasts including discount rates expected growth rates and terminal growth rates used after taking into consideration possible effects of COVID-19;
• We assessed historical accuracy of management's budgets and forecasts by comparing them to actual performance;
• We assessed the recoverable value headroom by performing sensitivity testing of key assumptions used;
• We tested the arithmetical accuracy of the models;
• We also assessed the disclosures given in the standalone financial statements for compliance with disclosure requirements under the accounting standards.

Measurement of derivative financial instrument (as described inNote 5(b) of the standalone financial statements)

The Company had made an investment in a company and also entered into an exclusive monetization agreement with such company which provides right to the Company to acquire additional ownership stake in such company. Our audit procedures on measurement of derivative financial instrument included the following amongst others:
These rights have been assessed by the Company as derivative financial instrument in accordance with Ind AS 109. This derivative financial instrument is recognized in the balance sheet at fair value amounting to INR 237.80 Mn on initial recognition. • We assessed the processes and controls put in place by the Company to identify measure and recognize derivative financial instruments.
Any change in the value of derivative on the balance sheet reporting date is recorded in the statement of profit and loss. As at year-end management assessed no change in fair value. • We read the agreement to obtain an understanding of the transaction.
Measurement of such derivative financial instrument is a key audit matter as this is a level 3 instrument requiring significant judgements and assumptions by management which are affected by uncertainties around future market or economic conditions. • We evaluated the competences capabilities and objectivity of the management's expert.
• We involved our valuation specialist who:
c. tested the arithmetical accuracy of the models used by the management expert;
d. evaluated and tested the methodologies used by the management's expert in their valuation report; and
e. assessed the key information used in determining the valuation including the volatility risk free rate expected option life.
• We also assessed the disclosures given in the standalone financial statements for compliance with disclosure requirements under the accounting standards.

Other Information

The Company's Board of Directors is responsible for the otherinformation. The other information comprises the information included in the AnnualReport but does not include the standalone financial statements and our auditor's reportthereon.

Our opinion on the standalone financial statements does not cover theother information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statementsour responsibility is to read the other information and in doing so consider whethersuch other information is materially inconsistent with the financial statements or ourknowledge obtained in the audit or otherwise appears to be materially misstated. If basedon the work we have performed we conclude that there is a material misstatement of thisother information we are required to report that fact. We have nothing to report in thisregard.

Responsibility of Management for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters statedin section 134(5) of the Act with respect to the preparation of these standalone financialstatements that give a true and fair view of the financial position financial performanceincluding other comprehensive income cash flows and changes in equity of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (Ind AS) specified under section 133 of the Act read with theCompanies (Indian Accounting Standards) Rules 2015 as amended. This responsibility alsoincludes maintenance of adequate accounting records in accordance with the provisions ofthe Act for safeguarding of the assets of the Company and for preventing and detectingfrauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and the designimplementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the standalone financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the standalone financial statements management isresponsible for assessing the Company's ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibilities for the Audit of the StandaloneFinancial Statements

Our objectives are to obtain reasonable assurance about whether thestandalone financial statements as a whole are free from material misstatement whetherdue 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 auditconducted in accordance with SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material ifindividually or in the aggregate they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these standalone financial statements.

As part of an audit in accordance with SAs we exercise professionaljudgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of thestandalone financial statements whether due to fraud or error design and perform auditprocedures responsive to those risks and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from fraud is higher than for one resulting from error as fraudmay involve collusion forgery intentional omissions misrepresentations or the overrideof internal control.

• Obtain an understanding of internal control relevant to theaudit in order to design audit procedures that are appropriate in the circumstances. Undersection 143(3)(i) of the Act we are also responsible for expressing our opinion onwhether the Company has adequate internal financial controls system in place and theoperating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the goingconcern basis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of thestandalone financial statements including the disclosures and whether the standalonefinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.

We communicate with those charged with governance regarding amongother matters the planned scope and timing of the audit and significant audit findingsincluding any significant deficiencies in internal control that we identify during ouraudit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence and tocommunicate with them all relationships and other matters that may reasonably be thoughtto bear on our independence and where applicable related safeguards.

From the matters communicated with those charged with governance wedetermine those matters that were of most significance in the audit of the standalonefinancial statements for the financial year ended March 31 2021 and are therefore the keyaudit matters. We describe these matters in our auditor's report unless law or regulationprecludes public disclosure about the matter or when in extremely rare circumstances wedetermine that a matter should not be communicated in our report because the adverseconsequences of doing so would reasonably be expected to outweigh the public interestbenefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016("the Order") issued by the Central Government of India in terms of sub-section(11) of section 143 of the Act based on our audit we give in the "Annexure 1" astatement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act we report that:

a. We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit;

b. In our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books

c. The Balance Sheet the Statement of Profit and Loss including theStatement of Other Comprehensive Income the Cash Flow Statement and Statement of Changesin Equity dealt with by this Report are in agreement with the books of account;

d. In our opinion the aforesaid standalone financial statements complywith the Accounting Standards specified under Section 133 of the Act read with Companies(Indian Accounting Standards) Rules 2018 as amended;

e. On the basis of the written representations received from thedirectors as on March 31 2021 taken on record by the Board of Directors none of thedirectors is disqualified as on March 31 2021 from being appointed as a director in termsof Section 164 (2) of the Act;

f. With respect to the adequacy of the internal financial controls overfinancial reporting of the Company with reference to these standalone financial statementsand the operating effectiveness of such controls refer to our separate Report in"Annexure 2" to this report;

g. In our opinion the managerial remuneration for the year ended March31 2021 has been paid/ provided by the Company to its directors in accordance with theprovisions of section 197 read with Schedule V to the Act;

h. With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 asamended in our opinion and to the best of our information and according to theexplanations given to us:

i. The Company has disclosed the impact of pending litigations on itsfinancial position in its standalone financial statements - Refer Note 30(b) to thestandalone financial statements;

ii. The Company did not have any long-term contracts includingderivative contracts for which there were any material foreseeable losses;

iii. There were no amounts which were required to be transferred to theInvestor Education and Protection Fund by the Company.

ANNEXURE1 to the Auditor's Report referred to in paragraph[1] of "Report on Other Legal and Regulatory Requirements" in our report of evendate

Re: Affle (India) Limited ("the Company")

i. a) The Company has maintained proper records showing fullparticulars including quantitative details and situation of fixed assets.

b) All fixed assets were physically verified by the management in theprevious year in accordance with a planned programme of verifying them once in two yearswhich in our opinion is reasonable having regard to the size of the Company and thenature of its assets. No material discrepancies were noticed on such verification.

c) According to the information and explanations given by themanagement there are no immovable properties included in property plant and equipmentof the Company and accordingly the requirements under paragraph 3(i)(c) of the Order arenot applicable to the Company.

ii. The Company's business does not involve inventories andaccordingly the requirements under paragraph 3(ii) of the Order are not applicable to theCompany.

iii. According to the information and explanations given to us theCompany has not granted any loans secured or unsecured to companies firms LimitedLiability Partnerships or other parties covered in the register maintained under section189 of the Companies Act 2013. Accordingly the provisions of clause 3(iii)(a) (b) and(c) of the Order are not applicable to the Company and hence not commented upon.

iv. In our opinion and according to the information and explanationsgiven to us there are no loans investments guarantees and securities given in respectof which provisions of section 185 and 186 of the Companies Act 2013 are applicable andhence not commented upon.

v. The Company has not accepted any deposits within the meaning ofSections 73 to 76 of the Act and the Companies (Acceptance of Deposits) Rules 2014 (asamended). Accordingly the provisions of clause 3(v) of the Order are not applicable.

vi. To the best of our knowledge and as explained the Company is notin the business of sale of any goods. Therefore in our opinion the provisions of clause3(vi) of the Order are not applicable to the Company.

vii. a) The Company is regular in depositing with appropriateauthorities undisputed statutory dues including provident fund employees' stateinsurance income-tax sales-tax service tax duty of custom duty of excise value addedtax goods and service tax cess and other statutory dues applicable to it.

b) According to the information and explanations given to us noundisputed amounts payable in respect of provident fund employees' state insuranceincome-tax service tax sales-tax duty of custom duty of excise value added tax goodsand service tax cess and other statutory dues were outstanding at the year end for aperiod of more than six months from the date they became payable.

c) According to the records of the Company the dues of income-taxsales-tax service tax duty of custom duty of excise value added tax and cess onaccount of any dispute are as follows:

Name of statute Nature of dues Amount Period to which the amount relates Forum where the dispute is pending
Income Tax Act 1961 Income Tax *64881888 AY 2017-18 Commissioner of Income Tax (Appeals)

*includes amount paid under protest INR 6500000

viii. The Company did not have any outstanding loans or borrowing duesin respect of a financial institution or bank or to government or dues to debentureholders during the year.

ix. In our opinion and according to the information and explanationsgiven by the management the Company has utilized the monies raised by way of initialpublic offer for the purposes for which they were raised.

x. Based upon the audit procedures performed for the purpose ofreporting the true and fair view of the financial statements and according to theinformation and explanations given by the management we report that no fraud by theCompany or no fraud on the Company by the officers and employees of the Company has beennoticed or reported during the year.

xi. According to the information and explanations given by themanagement the managerial remuneration has been paid / provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act 2013.

xii. In our opinion the Company is not a nidhi company. Therefore theprovisions of clause 3(xii) of the order are not applicable to the Company and hence notcommented upon.

xiii. According to the information and explanations given by themanagement transactions with the related parties are in compliance with section 177 and188 of Companies Act 2013 where applicable and the details have been disclosed in thenotes to the financial statements as required by the applicable accounting standards.

xiv. According to the information and explanations given to us and onan overall examination of the balance sheet the company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year under review and hence reporting requirements under clause 3(xiv) are notapplicable to the company and not commented upon.

xv. According to the information and explanations given by themanagement the Company has not entered into any non-cash transactions with directors orpersons connected with him as referred to in section 192 of Companies Act 2013.

xvi. According to the information and explanations given to us theprovisions of section 45-IA of the Reserve Bank of India Act 1934 are not applicable tothe Company.

ANNEXURE 2

TO THE INDEPENDENT AUDITOR'S REPORT OF EVEN DATE ON THE STANDALONEFINANCIAL STATEMENTS OF AFFLE (INDIA) LIMTED

Report on the Internal Financial Controls under

Clause (i) of Sub-section 3 of Section 143 of the Companies Act 2013("the Act")

We have audited the internal financial controls over financialreporting of Affle (India) Limited ("the Company") as of March 31 2021 inconjunction with our audit of the standalone financial statements of the Company for theyear ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's Management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls OverFinancial Reporting issued by the Institute of Chartered Accountants of India. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to the Company's policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting with reference to these financial statementsbased on our audit. We conducted our audit in accordance with the Guidance Note on Auditof Internal Financial Controls Over Financial Reporting (the "Guidance Note")and the Standards on Auditing as specified under section 143(10) of the Companies Act2013 to the extent applicable to an audit of internal financial controls and both issuedby the Institute of Chartered Accountants of India. Those Standards and the Guidance Noterequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether adequate internal financial controls over financialreporting with reference to these financial statements was established and maintained andif such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls over financial reporting with reference tothese financial statements and their operating effectiveness. Our audit of internalfinancial controls over financial reporting included obtaining an understanding ofinternal financial controls over financial reporting with reference to these financialstatements assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditor's judgement including the assessment of therisks of material misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the internal financial controlsover financial reporting with reference to these financial statements.

Meaning of Internal Financial Controls Over Financial Reporting WithReference to these Financial Statements

A company's internal financial control over financial reporting withreference to these financial statements is a process designed to provide reasonableassurance regarding the reliability of financial reporting and the preparation offinancial statements for external purposes in accordance with generally acceptedaccounting principles. A company's internal financial control over financial reportingwith reference to these financial statements includes those policies and procedures that

(1) pertain to the maintenance of records that in reasonable detailaccurately and fairly reflect the transactions and dispositions of the assets of thecompany;

(2) provide reasonable assurance that transactions are recorded asnecessary to permit preparation of financial statements in accordance with generallyaccepted accounting principles and that receipts and expenditures of the company arebeing made only in accordance with authorizations of management and directors of thecompany; and

(3) provide reasonable assurance regarding prevention or timelydetection of unauthorized acquisition use or disposition of the company's assets thatcould have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over FinancialReporting With Reference to these Financial Statements

Because of the inherent limitations of internal financial controls overfinancial reporting with reference to these financial statements including thepossibility of collusion or improper management override of controls materialmisstatements due to error or fraud may occur and not be detected. Also projections ofany evaluation of the internal financial controls over financial reporting with referenceto these financial statements to future periods are subject to the risk that the internalfinancial control over financial reporting with reference to these financial statementsmay become inadequate because of changes in conditions or that the degree of compliancewith the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects adequateinternal financial controls over financial reporting with reference to these financialstatements and such internal financial controls over financial reporting with reference tothese financial statements were operating effectively as at March 31 2021 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For S. R. Batliboi & Associates LLP Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004
per Yogesh Midha Partner
Membership Number: 94941 UDIN: 21094941AAAABU2050
Place of Signature: New Delhi Date: May 29 2021

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