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Home First Finance Company India Ltd.

BSE: 543259 Sector: Financials
NSE: HOMEFIRST ISIN Code: INE481N01025
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OPEN 654.10
PREVIOUS CLOSE 651.20
VOLUME 10862
52-Week high 691.90
52-Week low 441.00
P/E 59.44
Mkt Cap.(Rs cr) 5,742
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OPEN 654.10
CLOSE 651.20
VOLUME 10862
52-Week high 691.90
52-Week low 441.00
P/E 59.44
Mkt Cap.(Rs cr) 5,742
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Home First Finance Company India Ltd. (HOMEFIRST) - Auditors Report

Company auditors report

To the Members of Home First Finance Company India Limited

Report on the Audit of the Financial Statements

Opinion

1. We We have audited the accompanying financial statements of Home First FinanceCompany India Limited ('the Company') which comprise the Balance Sheet as at 31 March2021 the Statement of Profit and Loss (including Other Comprehensive Income) the CashFlow Statement and the Statement of Changes in Equity for the year then ended and asummary of the significant accounting policies and other explanatory information.

2. In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by theCompanies Act 2013 ('Act') in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India including IndianAccounting Standards ('Ind AS') specified under section 133 of the Act of the state ofaffairs of the Company as at 31 March 2021 and its profit (including other comprehensiveincome) its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing specified undersection 143(10) of the Act. Our responsibilities under those standards are furtherdescribed in the Auditor's Responsibilities for the Audit of the Financial Statementssection of our report. We are independent of the Company in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India ('ICAI') together withthe ethical requirements that are relevant to our audit of the financial statements underthe provisions of the Act and the rules thereunder and we have fulfilled our otherethical responsibilities in accordance with these requirements and the Code of Ethics. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our opinion.

Emphasis of matter- Impact of COVID-19 pandemic

4. We draw attention to Note 38 to the accompanying financial statements whichdescribes the uncertainties relating to the effects of COVID-19 pandemic outbreak on theCompany's operations the extent of which is significantly dependent on futuredevelopments as they evolve. Our opinion is not modified in respect of this matter.

Key audit matters

5. Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters.

6. We have determined the matters described below to be the key audit matters to becommunicated in our report.

Key audit matter How our audit addressed the key audit matter
Impairment of loans and advances to customers (Refer to the accounting policies in "Note 1 to the Financial Statements: Impairment" "Note 1.3 (i) to the Financial Statements: Significant Accounting Policies and other explanatory information" and "Note 4 to the Financial Statements: Loans") Our audit procedures in relation to expected credit losses on loan assets were focused on obtaining sufficient appropriate audit evidence as to whether the expected credit losses recognised in the financial statements were reasonable and the related disclosures in the financial statements made by the management were adequate. These procedures included but were not limited to the following:
As at 31 March 2021 the Company has reported gross loan assets of ' 33717.98 millions against which an impairment loss allowance of ' 452.98 millions is recognised as at year-end. Obtained an understanding of the modelling techniques adopted by the Company including the key inputs and assumptions for determining impairment losses on loan assets. Since modelling assumptions and parameters are based on historical data we assessed whether historical experience was representative of current circumstances and was relevant in view of the recent impairment losses incurred within the portfolios.
Ind AS 109 Financial Instruments requires the Company to provide for impairment of its financial assets using the expected credit loss ('ECL') approach involving an estimation of probability of loss on the financial assets over their life considering reasonable and supportable information about past events current conditions and forecasts of future economic conditions which could impact the credit quality of the Company's financial assets.
Considered the Company's accounting policies for impairment of financial assets and assessing compliance with the policies in terms of Ind AS 109 Financial Instruments.
The Expected Credit Loss (ECL) is measured at 12- month ECL for Stage 1 loan assets and at lifetime ECL for Stage 2 and Stage 3 loan assets. Significant management judgement and assumptions are involved in measuring ECL: Tested the design and operating effectiveness of key internal financial controls over completeness and accuracy of the key inputs and assumptions considered for calculationrecording and monitoring of the impairment loss recognised. Also evaluated the controls over the modelling process validation of data.
The significant areas are:
segmentation of loan book determining the criteria for a significant increase in credit risk factoring in future economic assumptions echniques used to calculate probability of default loss given default and determine exposure at default
Tested the assumptions used by the Company for grouping and staging of loan portfolio into various categories and default buckets based on the ir past-due sta tus and other qualitative factors identified by the management which indicate significant increase in credit risk and their appropriateness for determining the probability of default (PD) and loss-given default (LGD) rates.
The Company has developed models that use historical empirical data to arrive at factors that are indicative of future credit risk and segments the portfolio on the basis of combinations of these parameters into smaller homogeneous portfolios from the perspective of credit behavior.
The Company has also implemented the "COVID 19 Regulatory Package- Asset Classification and Provisioning" announced by the Reserve Bank of India ('the RBI') on 27 March 2020 17 April 2020 and 23 May 2020 (''collectively referred to as ''COVID 19 regulatory package"). Tested samples to ascertain the completeness and accuracy of the input data used for determining the PD and LGD rates and agreed the data with the underlying books of accounts and records.
Assessed and tested the key data sources and underlying assumptions for data used to determine impairment provisions.
Considering the significance of model used for impairment to the overall financial statements and the extent of management's estimates and judgments involved including implementing the regulatory announcement of moratorium facility for eligible customers this area required significant auditor attention to test such complex accounting estimates. Therefore we have determined this to be a key audit matter for the current year audit.
Performed an assessment of the adequacy of the credit losses expected within 12 months by reference to credit losses actually incurred on similar portfolios historically.
Obtained the policy on moratorium of loans approved by the Board of Directors pursuant to the regulatory announcements made by the RBI under COVID-19 - Regulatory Package and evaluated management's compliance with the said circulars and notifications.
We draw attention to note number 38 to the accompanying financial statements which describes the uncertainties relating to the effects of COVID-19 pandemic outbreak and the consequential impact on the appropriateness of the impairment provision recognised towards the loan asset outstanding as at 31 March 2021.
With respect to the management's assessment for the requirement of additional provisions to be made or not to be made on account of the impact of the COVID-19 pandemic we understood and challenged the underlying assumptions used by the Company for such estimate by considering our understanding of the risk profiles of the customers of the Company.
Tested the arithmetical accuracy of the ECL provision calculated by the Company.
Assessed the appropriateness and adequacy of the related presentation and disclosures of note 30 "Financial risk management" and all related disclosures in the accompanying financial statements in accordance with the applicable accounting standards
Information Technology (IT) Systems and General Controls Our audit procedures with the involvement of our IT specialists included but were not limited to the following:
The Company is highly dependent on its information technology (IT) systems for carrying on its operations which require large volume of transactions to be processed on a daily basis. The Company's key financial accounting and reporting processes are interlinked and highly dependent on the automated controls enabled by the IT systems and information extracted from loan management systems which in turn impacts key financial accounting and reporting areas such as loans and advances interest income impairment of loans amongst others.
In relation to key accounting and financial reporting systems we obtained an understanding on IT General Controls (ITGC) IT infrastructure and key automated controls operating over such identified IT applications.
Tested the design and operating effectiveness of the Company's IT controls over IT applications as identified above.
The controls implemented by the Company in its IT environment determine the integrity accuracy completeness and validity of data that is processed by the applications which is ultimately used for financial reporting. Tested a sample of key general controls operating over the information technology in relation to the identified IT applications particularly logical access password management and backup procedures.
We have focused on user access management change management segregation of duties and key automated controls over key financial accounting and reporting systems. Tested that requests for access to systems were appropriately reviewed and authorised tested controls around Company's periodic review of access rights edit on mandatory fields inspected requests of changes to systems for appropriate approval and authorisation.
Accordingly since our audit strategy has focused on key IT systems and controls due to the pervasive nature including the complexity of the IT environment we have determined 'IT systems and general controls' as key audit matter for the current year audit.
Tested related interfaces configuration andother application layer controls identified during our audit and report logic for system generated reports relevant to the audit mainly for Loans Interest income for evaluating the completeness and accuracy.

Information other than the Financial Statements and Auditor's Report thereon

8. The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in the Annual Report but does not includethe financial statements and our auditor's report thereon. The Annual Report is expectedto be made available to us after the date of this auditor's report.

Our opinion on the financial statements does not cover the other information and wewill not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements our responsibility is to readthe other information identified above when it becomes available and in doing soconsider whether the other information is materially inconsistent with the financialstatements or our knowledge obtained in the audit or otherwise appears to be materiallymisstated.

When we read the Annual Report if we conclude that there is a material misstatementtherein we are required to communicate the matter to those charged with governance.

Responsibilities of Management for the Financial Statements

9. The accompanying financial statements have been approved by the Company's Board ofDirectors. The Company's Board of Directors is responsible for the matters stated insection 134(5) of the Act with respect to the preparation of these 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 Ind AS specifiedunder section 133 of the Act. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for 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 design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

10. In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.

11. Those Board of Directors is also responsible for overseeing the Company's financialreporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

12. Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit conducted in accordance withStandards on Auditing will always detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered material if individuallyor in the aggregate they could reasonably be expected to influence the economic decisionsof users taken on the basis of these financial statements.

13. As part of an audit in accordance with Standards on Auditing we exerciseprofessional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control;

Obtain an understanding of internal control relevant to the audit in order to designaudit procedures that are appropriate in the circumstances. Under section 143(3)(i) of theAct 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 control;

Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and related disclosures made by management;

Conclude on the appropriateness of management's use of the going concern basis ofaccounting 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 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'sreport. However future events or conditions may cause the Company to cease to continue asa going concern; and

Evaluate the overall presentation structure and content of the financial statementsincluding the disclosures and whether the financial statements represent the underlyingtransactions and events in a manner that achieves fair presentation;

14. We communicate with those charged with governance regarding 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.

15. We also provide those charged with governance with a statement that we havecomplied with relevant ethical requirements regarding independence and to communicatewith them all relationships and other matters that may reasonably be thought to bear onour independence and where applicable related safeguards.

16. From the matters communicated with those charged with governance we determinethose matters that were of most significance in the audit of the financial statements ofthe current period and are therefore the key audit matters. We describe these matters inour auditor's report unless law or regulation precludes public disclosure about the matteror 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

17. As required by section 197(16) of the Act based on our audit we report that theCompany has paid remuneration to its directors during the year in accordance with theprovisions of and limits laid down under section 197 read with Schedule V to the Act.

18. As required by the Companies (Auditor's Report) Order 2016 ('the Order') issued bythe Central Government of India in terms of section 143(11) of the Act we give in theAnnexure I a statement on the matters specified in paragraphs 3 and 4 of the Order.

19. Further to our comments in Annexure I as required by section 143(3) of the Actbased on our audit we report to the extent applicable that:

a) we have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purpose of our audit of theaccompanying financial statements;

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 financial statements dealt with by this report are in agreement with the booksof account;

d) in our opinion the aforesaid financial statements comply with Ind AS specifiedunder section 133 of the Act;

e) on the basis of the written representations received from the directors and taken onrecord by the Board of Directors none of the directors is disqualified as on 31 March2021 from being appointed as a director in terms of section 164(2) of the Act;

f) we have also audited the internal financial controls with reference to financialstatements of the Company as on 31 March 2021 in conjunction with our audit of thefinancial statements of the Company for the year ended on that date and our report dated 3May 2021 as per Annexure II expressed unmodified opinion; and

g) 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 does not have any pending litigation which would impact its financialposition as at 31 March 2021;

ii. the Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses as at 31 March 2021;

iii. there were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company during the year ended 31 March 2021; and

iv. the disclosure requirements relating to holdings as well as dealings in specifiedbank notes were applicable for the period from 8

November 2016 to 30 December 2016 which are not relevant to these financialstatements. Hence reporting under this clause is not applicable.

For Walker Chandiok & Co LLP
Chartered Accountants
Firm's Registration No:001076N/N500013
Sudhir N. Pillai
Partner
Membership No:105782
UDIN:21105782AAAADH7156
Place: Mumbai
Date: 03 May 2021

Annexure I to the Independent Auditor's Report of even date to the members of HomeFirst Finance Company India Limited on the financial statements for the year ended 31March 2021

Based on the audit procedures performed for the purpose of reporting a true and fairview on the financial statements of the Company and taking into consideration theinformation and explanations given to us and the books of account and other recordsexamined by us in the normal course of audit and to the best of our knowledge and beliefwe report that:

(i) a) The Company has maintained proper records showing full particulars includingquantitative details and situation of property plant and equipment.

b) The Company has a regular program of physical verification of its property plantand equipment under which property plant and equipment are verified in a phased mannerover a period of 3 years which in our opinion is reasonable having regard to the sizeof the Company and the nature of its assets. In accordance with this program certainproperty plant and equipment were verified during the year and no material discrepancieswere noticed on such verification.

c) The Company does not hold any immovable property (in the nature of 'property plantand equipment'). Accordingly the provisions of clause 3(i)(c) of the Order are notapplicable .

(ii) The Company does not have any inventory. Accordingly the provisions of clause3(ii) of the Order are not applicable.

(iii) The Company has not granted any loan secured or unsecured to companies firms Limited Liability Partnerships (LLPs) or other parties covered in the register maintainedunder Section 189 of the Act. Accordingly the provisions of clauses 3(iii)(a) 3(iii)(b)and 3(iii)(c) of the Order are not applicable.

(iv) In our opinion the Company has not entered into any transaction covered underSections 185 and 186 of the Act. Accordingly the provisions of clause 3(iv) of the Orderare not applicable.

(v) In our opinion 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) The Central Government has not specified maintenance of cost records undersubsection (1) of Section 148 of the Act in respect of Company's services. Accordinglythe provisions of clause 3(vi) of the Order are not applicable.

(vii) (a) Undisputed statutory dues including provident fund employees' stateinsurance income-tax service tax goods and service tax cess and other materialstatutory dues as applicable have generally been regularly deposited to the appropriateauthorities except professional tax where there have been significant delays in a numberof cases consisting of individual amounts which are not generally material. Further noundisputed amounts payable in respect thereof were outstanding at the year-end for aperiod of more than six months from the date they became payable.

(b) The dues outstanding in respect of income-tax on account of any dispute are asfollows:

Statement of Disputed Dues

Name of the statute Nature of dues Amount (Rs.in millions) Amount paid under Protest (Rs.in millions) Period to which the amount relates Forum where dispute is pending
Income Tax Act 1961 Income tax 0.04 Financial year 2017-18 Commissioner of Income Tax (Appeal) (Mumbai)

Further there are no dues in respect of goods and service tax that have not beendeposited with the appropriate authorities on account of any dispute.

(viii) The Company has not defaulted in repayment of loans or borrowings to anyfinancial institution or a bank or government or any dues to debenture-holders duringthe year.

(ix) In our opinion and according to the information and explanations given to us theterm loans were applied for the purposes for which the loans were obtained thoughidle/surplus funds which were not required for immediate utilisation have been invested inliquid investments payable on demand. Further the Company has applied moneys raised byway of initial public offer and debt instruments in the nature of Non-convertibleDebentures during the year for the purposes for which these were raised except for thefollowing:

Nature of the fund raised Details of default (Reason/Delay) Amount (Rs.in millions) Subsequently rectified (Yes/No) and details
Equity shares (by way of Initial Public Offering) (also refer note 16 (vii) of the accompanying financial statement) Not applicable 12.44 Not applicable

(x) No fraud by the Company or on the Company by its officers or employees has beennoticed or reported during the period covered by our audit .

(xi) Managerial remuneration has been paid and provided by the Company in accordancewith the requisite approvals mandated by the provisions of Section 197 of the Act readwith Schedule V of the Act.

(xii) In our opinion the Company is not a Nidhi Company. Accordingly provisions ofclause 3(xii) of the Order are not applicable.

(xiii) In our opinion all transactions with the related parties are in compliance withSections 177 and 188 of Act where applicable and the requisite details have beendisclosed in the financial statements etc. as required by the applicable Ind AS.

(xiv) During the year the Company has made private placement of shares. In respect ofthe same in our opinion the Company has complied with the requirement of Section 42 ofthe Act and the Rules framed thereunder. Further in our opinion the amounts so raisedhave been used for the purposes for which the funds were raised. During the year theCompany did not make preferential allotment of fully/partly convertible debentures.

(xv) In our opinion the Company has not entered into any non-cash transactions withthe directors or persons connected with them covered under Section 192 of the Act.

(xvi) The Company is not required to be registered under Section 45-IA of the ReserveBank of India Act 1934.

For Walker Chandiok & Co LLP
Chartered Accountants
Firm's Registration No:001076N/N500013
Sudhir N. Pillai
Partner
Membership No:105782
UDIN:21105782AAAADH7156
Place: Mumbai
Date: 03 May 2021

Annexure II to the Independent Auditor's Report on the Audit of the of even date to themembers of Home First Finance Company India Limited on the financial statements for theyear ended 31 March 2021

Independent Auditor's Report on the internal financial controls with reference to thefinancial statements under Clause (i) of Subsection 3 of Section 143 of the Companies Act2013 ('the Act')

1. In conjunction with our audit of the financial statements of Home First FinanceCompany India Limited ('the Company') as at and for the year ended 31 March 2021 we haveaudited the internal financial controls with reference to financial statements of theCompany as at that date.

Responsibilities of Management and Those Charged with Governance for Internal FinancialControls

2. The Company's Board of Directors is responsible for establishing and maintaininginternal financial controls based on the internal financial controls with reference tofinancial statements criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls over Financial Reporting issued by the Institute of Chartered Accountants ofIndia. These responsibilities include the design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theorderly and efficient conduct of the Company's business including adherence to theCompany's policies the safeguarding of its assets the prevention and detection of fraudsand errors the accuracy and completeness of the accounting records and the timelypreparation of reliable financial information as required under the Act.

Auditor's Responsibility for the Audit of the Internal Financial Controls withReference to Financial Statements

3. Our responsibility is to express an opinion on the Company's internal financialcontrols with reference to financial statements based on our audit. We conducted our auditin accordance with the Standards on Auditing issued by the Institute of CharteredAccountants of India ('ICAI') prescribed under Section 143(10) of the Act to the extentapplicable to an audit of internal financial controls with reference to financialstatements and the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting ('the Guidance Note') issued by the ICAI. 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 with reference tofinancial statements were established and maintained and if such controls operatedeffectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacyof the internal financial controls with reference to financial statements and theiroperating effectiveness. Our audit of internal financial controls with reference tofinancial statements includes obtaining an understanding of such internal financialcontrols 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.

5. 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 withreference to financial statements.

Meaning of Internal Financial Controls with Reference to Financial Statements

6. A company's internal financial controls with reference to financial statements is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial controlswith reference to financial statements include those policies and procedures that (1)pertain to the maintenance of records that in reasonable detail accurately and fairlyreflect the transactions and dispositions of the assets of the company; (2) providereasonable assurance that transactions are recorded as necessary to permit preparation offinancial statements in accordance with generally accepted accounting principles and thatreceipts and expenditures of the company are being made only in accordance withauthorisations of management and directors of the company; and (3) provide reasonableassurance regarding prevention or timely detection of unauthorised acquisition use ordisposition of the company's assets that could have a material effect on the financialstatements.

Inherent Limitations of Internal Financial Controls with Reference to FinancialStatements

7. Because of the inherent limitations of internal financial controls with reference tofinancial statements including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls withreference to financial statements to future periods are subject to the risk that theinternal financial controls with reference to financial statements may become inadequatebecause of changes in conditions or that the degree of compliance with the policies orprocedures may deteriorate.

Opinion

8. In our opinion the Company has in all material respects adequate internalfinancial controls with reference to financial statements and such controls were operatingeffectively as at 31 March 2021 based on the internal financial controls with referenceto financial statements criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls over Financial Reporting issued by the Institute of Chartered Accountants ofIndia.

For Walker Chandiok & Co LLP
Chartered Accountants
Firm's Registration No:001076N/N500013
Sudhir N. Pillai
Partner
Membership No:105782
UDIN:21105782AAAADH7156
Place: Mumbai
Date: 03 May 2021

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