Independent Auditors Report on the Quarterly and Year to Date Audited StandaloneFinancial Results of the Company pursuant to the regulation 33 of the SEBI (ListingObligations and Disclosure Requirements) Regulation 2015 as amended
Board of Directors of
The DALMIA INDUSTRIAL DEVELOPMENT LIMITED Report on the Audit of the StandaloneFinancial Results Opinion
We have audited the accompanying standalone financial results of The DALMIA INDUSTRIALDEVELOPMENT LIMITED(hereinafter referred to as the the Company") for thequarter and year ended 31st March 2020 attached herewith being submitted bythe Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 as amended (Listing Regulations').
In our opinion and to the best of our information and according to the explanationsgiven to us these standalone financial statements:
1. are presented in accordance with the requirements of Regulation 33 of the ListingRegulations in this regard; and
2. Give a true and fair view in conformity with the applicable accounting standardsand other accounting principles generally accepted in India of net profit and othercomprehensive income and other financial information of the Company for the quarter andyear ended 31st March 2020.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013 ("Act"). Our responsibilitiesunder those Standards are further described in the "Auditor's Responsibilities forthe Audit of the Standalone Financial Results" section of our report. We areindependent of the Company in accordance with the Code of Ethics issued by the Instituteof Chartered Accountants of India together with the ethical requirements that are relevantto our audit of the financial statements under the provisions of the Companies Act 2013and the Rules thereunder and we have fulfilled our other ethical responsibilities inaccordance with these requirements and the Code of Ethics. We believe that the auditevidence obtained by us is sufficient and appropriate to provide a basis for our opinion
Emphasis of Matter
We draw attention to Note to the standalone financial results which describes theuncertainties and potential impact of the Covid-19 pandemic on the company's operationsand results as assessed by the management.
The actual results may differ from such estimates depending upon future developments.Our opinion is not modified in respect of this matter.
Board of Directors' Responsibilities for the Standalone Financial Results
These Standalone financial results have been prepared based on the standalone annualfinancial statements. The Company's Board of Directors are responsible for the preparationand presentation of these standalone financial results that give a true and Fairview ofthe net profit and other comprehensive income and other financial information of thecompany in accordance with theIndianAccounting Standards prescribed under Section 133 ofthe Act read with relevant rules issued there underand other accounting principlesgenerally accepted in India and incompliance with Regulation 33of the Listing Regulations.The Board of Directors of the Company are responsible for maintenance of adequateaccounting records in accordance with the provisions of the Actor safeguarding of theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and the design implementation and maintenanceof adequate internal financial controls that were operating effectively for ensuringaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the standalone financial results that give a true and fair view and arefree from material misstatement whether due to fraud or error.
In preparing the standalone financial results the Board of Directors of the Companyare responsible for assessing the ability of the Company to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless the Board of Directors either intends to liquidate the Companyor to cease operations or has no realistic alternative but to do so.
The Board of Directors of the Company is also responsible for overseeing the financialreporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalonefinancial results as a whole are free from material misstatement whether due to fraud orerror and to issue an auditor's report that includes our opinion. Reasonable assurance isa high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these standalone financial results.
As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the standalonefinancial results whether due to fraud or error design and perform audit proceduresresponsive to those risks and obtain audit evidence that is sufficient and appropriate toprovide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error as fraud may involvecollusion forgery intentional omissions misrepresentations or the override of internalcontrol.
Obtain an understanding of internal control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances. Under Section 143(3)(i)of the Act. We are also responsible for expressing our opinion on whether the company hasadequate internal financial controls with reference to financial statements in place andthe operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors 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 theability of the company 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 standalone financial results or if such disclosures areinadequate to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditor's report. However future events or conditions maycause the company to cease to continue as ageing concern.
Evaluate the overall presentation structure and content of the standalonefinancial results including the disclosures and whether the standalone financial resultsrepresent the underlying transactions and events in a manner that achieves fairpresentation.
We communicate with those charged with governance of the Company among other mattersthe planned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.
We also performed procedures in accordance with the circular issued by the SEBI underRegulation 33(8) of the Listing Regulations as amended to the extent applicable.
The standalone financial Results include the results for the quarter ended 31stMarch 2020 being the balancing figure between the audited figures in respect of the fullfinancial year and the published unaudited year to date figures up to the third quarter ofthe current financial year which were subject to limited review by us
FOR M/S N K A S and Associates
Firm Registration No: 328509E
M. No: 066726
UDIN No: 20066726AAAAAC9949