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Engineers India Ltd.

BSE: 532178 Sector: Engineering
NSE: ENGINERSIN ISIN Code: INE510A01028
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VOLUME 139232
52-Week high 93.60
52-Week low 67.65
P/E 16.78
Mkt Cap.(Rs cr) 3,971
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 70.60
CLOSE 71.30
VOLUME 139232
52-Week high 93.60
52-Week low 67.65
P/E 16.78
Mkt Cap.(Rs cr) 3,971
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Engineers India Ltd. (ENGINERSIN) - Auditors Report

Company auditors report

TO

THE MEMBERS OF ENGINEERS INDIA LIMITED

Report on the Audit of Standalone Financial Statements Opinion

We have audited the accompanying standalone financial statements of ENGINEERS INDIALIMITED ("the company") which comprise the Balance Sheet as at 31 March2020 the statement of Profit and Loss (including other comprehensive income) theStatement of Changes in Equity and the Cash Flow Statement for the year then ended andnotes to the financial statements including a summary of significant accounting policiesand other explanatory information (hereinafter referred to as "the standalonefinancial statements").

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Companies Act 2013 ("the Act") in the manner so required and give a trueand fair view in conformity with the accounting principles generally accepted in India ofthe state of affairs of the company as at 31 March 2020 its profit (including othercomprehensive income) changes in equity and its cash flows for the year ended on thatdate.

Basis for Opinion

We conducted our audit of standalone financial statements in accordance with theStandards on Auditing ("SAs") specified under section 143(10) of the Act. Ourresponsibilities 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 issued bythe Institute of Chartered Accountants of India ("ICAI") together with theethical requirements that are relevant to our audit of the standalone financial statementsunder the provisions of the Act and the Rules made thereunder and we have fulfilled ourother ethical responsibilities in accordance with these requirements and the ICAI's Codeof Ethics. We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance 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 financialstatements as a whole and in forming our opinion thereon and we do not provide aseparate opinion on these matters. We have determined the matters described below to bethe key audit matters to be communicated in our report:

1. Estimation in relation to Percentage Completion Method

The company recognizes revenue using the percentage of completion method. This methodinvolves management estimates w.r.t cost and outcomes of long-term construction andservice contracts. Revenue recognition in this regard is complex because it is based onthe management estimates assessments and judgements of:

• estimated contract revenue and estimated costs;

• the assessment of stage of completion of respective jobs;

• total efforts incurred till date and balance efforts required to complete theremaining contract performance obligations;

• changes in work scope;

• the probability of customer approval of variations and claims; and

• probability of levy for liquidated damages warranty/guarantee and pricereduction for delay or waiver/ reduction of such levies.

Audit procedures were carried out for verifying the revenue recognized from suchcontracts and for that purpose we:

• selected a sample of contracts and evaluated the design of internal controlsrelating to recording of efforts incurred and estimation of efforts required to completethe performance obligations;

• assessed management's estimates of total contract revenue and contract costs andrecalculated the stage of completion based on actual costs incurred till date for a sampleof contracts;

• selected a sample of contracts and performed a review of efforts incurred withestimated efforts to identify significant variations if any and verify whether thosevariations have been considered while estimating the remaining efforts required tocomplete the respective contract;

• reviewed a sample of contracts with unbilled revenues to identify possibledelays in achieving milestones and change if any required in estimated efforts tocomplete the remaining performance obligations by the company;

• performed analytical procedures and test of details for reasonableness ofincurred and estimated efforts.

This has been considered as a key audit matter because of the involvement ofmanagement's judgement and estimates in recognizing revenue from such contracts andpotential variations that may have consequential impact on the profitability of thecompany.

2. Arbitration Proceedings in case of M/s Fernas Construction India Private Limited

In April 2016 the company terminated an existing contract with M/s FernasConstruction India Private Limited ("contractor") consequent to the findings ofan investigating agency that certificates submitted for qualifying the contract was bogus.Subsequently the company is completing the contract at the risk and cost of contractor interms of provision of the contract.

The matter has been referred to the Arbitral Tribunal wherein the contractor has filedits claim amounting to '40960.75 Lakhs against the company. The company has filed itsreply along with its counter claim and application to implead the parent company of thecontractor decisions on which is pending with the Arbitral Tribunal.

During the financial year 2018-19 a third-party creditor of the contractor has filedan application against the contractor with National Company Law Appellate Tribunal (NCLAT)under Insolvency and Bankruptcy Code 2016 (IBC). Interim Resolution Professional (IRP)has been appointed and hence arbitration proceedings have been stayed sine die.

EIL has filed its claim against the contractor with the IRP. Hon'ble Supreme Court onthe application of the contractor has stayed the Resolution proceedings. Hence during theyear company has approached Arbitral Tribunal and NCLT for revival of counter claimswherein company has been directed to approach the appropriate forum and accordinglycompany is in the process of filing the application. Refer Note 52 to the standalonefinancial statements.

This has been considered as a key audit matter given the uncertain outcome of legalproceedings/arbitral proceedings and the involvement of management's judgement andestimates in relation to the same and any variation may have consequential impact on theprofitability of the company.

The status of such job has been reviewed on regular basis. Also outcome of the legalproceedings was reviewed time to time. Based on the management's assessment themanagement has not considered any possible obligation on this account requiring futureprobable outflow of resources of the company and accordingly no provision has been madenor disclosed as Contingent Liability in the standalone financial statements of thecompany.

Information Other than the Standalone Financial Statements and Auditor's Report Thereon

The company's Board of Directors is responsible for the preparation of otherinformation. The other information comprises the Management Discussion and AnalysisDirector's Report including annexures to Director's Report Business ResponsibilityReport Corporate Governance Ten years' Performance at a Glance and Chairman's Statementincluded in the annual report of the company but does not include the standalonefinancial statements and our auditor's report thereon. The annual report is expected to bemade available to us after the date of this auditor's report.

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

In connection with our audit of the standalone financial statements our responsibilityis to read the other information identified above when it becomes available and in doingso consider whether the other information is materially inconsistent with the standalonefinancial statements or our knowledge obtained during the course of audit or otherwiseappears to be materially misstated.

On reading the Annual report if we conclude that there is a material misstatementtherein we are required to communicate the matter to those charged with governance andtake necessary actions as per applicable laws and regulations.

Responsibilities of Management and those Charged with Governance for the StandaloneFinancial Statements

The company's Board of Directors is responsible for the matters stated in section134(5) of the Act with respect to the preparation of these standalone financial statementsthat give a true and fair view of the financial position financial performance (includingother comprehensive income) changes in equity and cash flows of the company in accordancewith the accounting principles generally accepted in India including the IndianAccounting Standards specified in the Companies (Indian Accounting Standards) Rules 2015(as amended) under section 133 of the Act. This responsibility also includes maintenanceof adequate accounting records in accordance with the provisions of the Act forsafeguarding of the assets of the company and for preventing and detecting frauds andother irregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial controls that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the standalone financial statements that give a true andfair view and are free from material misstatement whether due to fraud or error.

In preparing the standalone financial statements management is responsible forassessing the company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the company or to cease operations or has norealistic alternative but to do so.

The Board of Directors are also responsible for overseeing the company's financialreporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalonefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a 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 statements.

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 statements 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 financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances. Under section143(3)(i) of the Act we are also responsible for expressing our opinion on whether thecompany has adequate internal financial controls system in place and the operatingeffectiveness of such controls.

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

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe standalone financial statements or if such disclosures are inadequate to modify ouropinion. Our conclusions are based on the audit evidence obtained up to the date of ourauditor's report. However future events or conditions may cause the company to cease tocontinue as a going concern.

• Evaluate the overall presentation structure and content of the standalonefinancial statements including the disclosures and whether the standalone financialstatements represent the underlying transactions and events in a manner that achieves fairpresentation.

Materiality is the magnitude of misstatements in the standalone financial statementsthat individually or in aggregate makes it probable that the economic decisions ofreasonably knowledgeable user of the financial statements may be influenced. We considerquantitative materiality and qualitative factors in (i) planning the scope of our auditwork and in evaluating the results of our work; and (ii) to evaluate the effect of anyidentified misstatements in the financial statements.

We communicate with those charged with governance regarding among other matters theplanned 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.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the standalone financial statementsof the current period and are therefore the key audit matters. We describe these mattersin our auditor's report unless law or regulation precludes public disclosure about thematter or when in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits 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 subsection (11) of section 143 ofthe Act we give in the "Annexure A" a statement on the mattersspecified in paragraphs 3 and 4 of the Order to the extent applicable.

2. The Comptroller and Auditor General of India has issued Directions indicating theareas to be examined in terms of sub section (5) of section 143 of the Act compliance ofwhich are set out in "Annexure B".

3. 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 bestof 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 thecompany so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss (including other comprehensiveincome) the Statement of Changes in Equity and the Cash Flow Statement dealt with by thisReport are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statements comply with theIndian Accounting Standards specified in the Companies (Indian Accounting Standards)Rules 2015 (as amended) under Section 133 of the Act.

(e) As per notification number G.S.R. 463(E) dated 5 June 2015 issued by Ministry ofCorporate Affairs section 164(2) of the Act regarding the disqualifications of Directorsis not applicable to the company since it is a Government Company.

(f) With respect to the adequacy of the internal financial controls over financialreporting of the company and the operating effectiveness of such controls refer to ourseparate Report in "Annexure C". Our report expresses an unmodifiedopinion on the adequacy and operating effectiveness of the company's internal financialcontrols over financial reporting.

(g) With respect to the other matters to be included in the Auditor's Report as pernotification number G.S.R. 463(E) dated 5 June 2015 issued by Ministry of CorporateAffairs section 197(16) of the Act regarding the Managerial remuneration is notapplicable to the company since it is a Government Company.

(h) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 (as amended) inour opinion and to the best of our information and according to the explanations given tous:

i. The company has disclosed the impact of pending litigations on its financialposition in its standalone financial statements - Refer Note 40 to the standalonefinancial statements;

ii. the company has made provision as required under the applicable law or accountingstandards for material foreseeable losses if any on long term contracts includingderivative contracts - Refer Note 54 to the standalone financial statements; and

iii. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the company.

For N K Bhargava & Co.
Chartered Accountants
(Firm's Registration No. 000429N)
Sd/-
N. K. Bhargava
(Partner)
Place: New Delhi M. No. 080624
Date: 25 June 2020 UDIN : 20080624AAAACY4370

Annexure A to Independent Auditors' Report

Referred to Paragraph 1 under the heading of "Report on Other Legal and RegulatoryRequirements" of our report of even date

i. (a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) The company has a regular programme of physical verification of its fixed assets bywhich fixed assets are verified in a phased manner over a period of three years which inour opinion is reasonable having regard to the size of the company and the nature of itsassets. In accordance with this programme certain fixed assets were physically verifiedby the Management during the year and according to information and explanations given tous no material discrepancies were noticed on such verification.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the company the title deeds of immovable properties areheld in the name of the company except the following:

PARTICULARS GROSS BLOCK NET BLOCK
4 Flats at Naranpura Ahmedabad 10.31 3.05
2 Flats at Viman Nagar Pune 8.45 2.64
Eighty Four Flats at Gokuldham Goregaon Mumbai 238.19 26.66
Six Flats in Andheri East Mumbai 9.93 0.16
One Floor at CBD Belapur Navi Mumbai 101.68 34.90

ii. The company has carried out physical verification of inventory during the year. Inour opinion frequency of physical verification is reasonable. As per the information andexplanations given to us the discrepancies noticed on physical verification ofinventories as compared to book records were not material and the same have been dealtwith in the books of account.

iii. In our opinion and according to the information and explanations given to us thecompany has not granted any loan secured or unsecured to companies firms or otherparties covered in the register maintained under section 189 of the Companies Act 2013.Accordingly paragraphs 3 (iii) (a) (b) and (c) of the order are not applicable.

iv. In our opinion and according to the information and explanations given to us thecompany has complied with the provisions of section 185 and 186 of the Act with respectto the grant of loan making investment providing guarantees and securities asapplicable.

v. The company has not accepted any deposits from the public within the meaning ofSections 73 74 75 and 76 of the Companies Act 2013 and Rules framed there under.Accordingly paragraphs 3 (v) (a) (b) and (c) of the order are not applicable.

vi. As per the information and explanations given to us the maintenance of costrecords has not been prescribed by the Central Government under section 148(1) of theCompanies Act 2013 for services rendered by the company.

vii. (a) According to the information and explanations given to us and on the basis ofour examination of the books of account of the company amount deducted/accrued in thebooks of account in respect of undisputed statutory dues including Provident FundIncomeTax GST Sales Tax Service Tax Custom Duty Value Added Tax Cess and any otherstatutory dues have been regularly deposited during the year by the company withappropriate authorities as applicable.

According to the information and explanation given to us and on the basis of ourexamination of the books of accounts no undisputed amounts payable in respect ofProvident Fund Income Tax GST Sales Tax Service Tax Custom Duty Value Added TaxCess and any other statutory dues were in arrears as at 31 March 2020 for a period morethan six months from the date they became payable.

(b) According to the information and explanations given to us the following dues ofsales tax have not been deposited by the company on account of disputes:

Name of Statue Nature of dues Forum where dispute is pending Period to which amount relates Amount Including Interest (' in lakhs)
1 Sales Tax VAT Andhra Pradesh High Court April 2014 to June 2017 150.14
2 Sales Tax VAT Andhra Pradesh High Court April 2014 to June 2017 237.89
3 Sales Tax VAT Karnataka High Court F.Y. 2009-10 3826.84
4 Sales Tax VAT Karnataka High Court F.Y. 2010-11 30552.56
5 Sales Tax VAT Karnataka High Court F.Y. 2013-14 636.29
6 Sales Tax VAT Karnataka High Court F.Y. 2014-15 786.97

viii. The company does not have any loan or borrowings from any financial institutionbank government or debenture holders during the year. Accordingly paragraph 3(viii) ofthe order is not applicable.

ix. The company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3 (ix) of the Order is not applicable.

x. According to the information and explanation given to us by the management and basedon audit procedures performed no material fraud by the company or on the company by itsofficers or employees has been noticed or reported during the year.

xi. As per Notification dated 05.06.2015 Section 197 of the Act is not applicable incase of a Government Company. Accordingly paragraph 3 (xi) of the Order is notapplicable.

xii. In our opinion and according to the information and explanations given to us thecompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

xiii. According to the information and explanations given to us and based on ourexamination of the records of the company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the standalone financial statements as required by theapplicable accounting standards.

xiv. According to the information and explanations give to us and based on ourexamination of the records of the company the company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year. Accordingly paragraph 3(xiv) of the Order is not applicable.

xv. According to the information and explanations given to us and based on ourexamination of the records of the company the company has not entered into non-cashtransactions with directors or persons connected with them. Accordingly paragraph 3(xv)of the Order is not applicable.

xvi. The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For N K Bhargava & Co.
Chartered Accountants
(Firm's Registration No. 000429N)
Sd/-
N. K. Bhargava
(Partner)
Place: New Delhi M. No. 080624
Date: 25 June 2020 UDIN : 20080624AAAACY4370

Annexure B to Independent Auditors' Report

Referred to Paragraph 2 under the heading of "Report on Other Legal and RegulatoryRequirements" of our report of even date According to the information andexplanations given to us we report as under:

Areas Examined Observations/Findings
1. Whether the Company has system in place to process all the accounting transactions through IT system? If yes the implications of processing of accounting transactions outside IT system on the integrity of the accounts along with the financial implications if any may be stated. The Company has in-house developed IT software and systems in place to process all the accounting transactions. The Company has adequate internal control system to process all the accounting transactions through IT system.
2. Whether there is any restructuring of an existing loan or cases of waiver/write off of debts/ loans/ interest etc. made by a lender to the Company due to the Company's inability to repay the loan? If yes the financial impact may be stated. There is no restructuring of loan or cases of waiver/write off of debts/loans/interest etc. taken by the Company.
3. Whether funds received/ receivable for specific schemes from Central/State agencies were properly accounted for/ utilized as per its term and conditions? List the cases of deviation. Funds received/receivable for specific schemes from Central/State agencies were properly accounted for/utilized as per its terms and conditions.

 

For N K Bhargava & Co.
Chartered Accountants
(Firm's Registration No. 000429N)
Sd/-
N. K. Bhargava
(Partner)
Place: New Delhi M. No. 080624
Date: 25 June 2020 UDIN : 20080624AAAACY4370

Annexure C to Independent Auditors' Report

Referred to Paragraph 3(f) under the heading of "Report on Other Legal andRegulatory Requirements" of our report of even date

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of ENGINEERSINDIA LIMITED ("the company") as of 31 March 2020 in conjunction with ouraudit of the standalone financial statements of the company for the year ended on thatdate.

Management's Responsibility for Internal Financial Controls

The company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India ("ICAI"). 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 company's policies the safeguarding ofits 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.

Auditors' Responsibility

Our responsibility is to express an opinion on the company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls. Those Standards and the GuidanceNote require that we comply with ethical requirements and plan and perform the audit toobtain reasonable assurance about whether adequate internal financial controls overfinancial reporting was established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the company has in all material respects an adequate internal financialcontrols system over financial reporting and such internal financial controls overfinancial reporting were operating effectively as at 31 March 2020 based on the internalcontrol over financial reporting criteria established by the company considering theessential components of internal control stated in the Guidance Note on Audit of InternalFinancial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For N K Bhargava & Co.
Chartered Accountants
(Firm's Registration No. 000429N)
Sd/-
N. K. Bhargava
(Partner)
Place: New Delhi M. No. 080624
Date: 25 June 2020 UDIN : 20080624AAAACY4370

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