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MIRC Electronics Ltd.

BSE: 500279 Sector: Consumer
NSE: MIRCELECTR ISIN Code: INE831A01028
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OPEN 14.55
PREVIOUS CLOSE 14.10
VOLUME 61981
52-Week high 15.20
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P/E
Mkt Cap.(Rs cr) 329
Buy Price 55.40
Buy Qty 28.00
Sell Price 56.60
Sell Qty 720.00
OPEN 14.55
CLOSE 14.10
VOLUME 61981
52-Week high 15.20
52-Week low 3.61
P/E
Mkt Cap.(Rs cr) 329
Buy Price 55.40
Buy Qty 28.00
Sell Price 56.60
Sell Qty 720.00

MIRC Electronics Ltd. (MIRCELECTR) - Auditors Report

Company auditors report

To the Members of MIRC Electronics Limited

Report on the Audit of the Ind AS Financial Statements Opinion

We have audited the accompanying Ind AS financial statements of MIRC ElectronicsLimited ("the Company") which comprise the Balance Sheet as at March 31 2020the Statement of Profit and Loss including Other Comprehensive Income the Cash FlowStatement and the Statement of Changes in Equity for the year then ended and notes to thefinancial statements including a summary of significant accounting policies and otherexplanatory information.

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid Ind AS financial statements give the information required bythe Companies Act 2013 as amended ("the Act") in the manner so required andgive a true and fair view in conformity with the accounting principles generally acceptedin India of the state of affairs of the Company as at March 31 2020 its loss includingother comprehensive income its cash flows and the changes in equity for the year ended onthat date.

Basis for Opinion

We conducted our audit of the Ind AS financial statements in accordance with theStandards on Auditing (SAs) as specified under section 143(10) of the Act. Ourresponsibilities under those Standards are further described in the ‘Auditor'sResponsibilities for the Audit of the Ind AS Financial Statements' section of ourreport. We are independent of the Company in accordance with the ‘Code of Ethics'issued by the Institute of Chartered Accountants of India together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Act and the Rules thereunder and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our audit opinion on the Ind AS financial statements.

Emphasis of Matter

We draw attention to Note 46 to the Ind AS financial statements which describes theuncertainty due to spread of Covid 19 pandemic and assessment of the Management of it'slikely impact on the financial statements of the Company.

Our opinion is not modified in respect of this matter.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the Ind AS financial statements for the financial year endedMarch 31 2020. These matters were addressed in the context of our audit of the Ind ASfinancial statements as a whole and in forming our opinion thereon and we do not providea separate opinion on these matters. For each matter below our description of how ouraudit addressed the matter is provided in that context.

We have determined the matters described below to be the key audit matters to becommunicated in our report. We have fulfilled the responsibilities described in theAuditor's responsibilities for the audit of the Ind AS financial statements section of ourreport including in relation to these matters. Accordingly our audit included theperformance of procedures designed to respond to our assessment of the risks of materialmisstatement of the Ind AS financial statements. The results of our audit proceduresincluding the procedures performed to address the matters below provide the basis for ouraudit opinion on the accompanying Ind AS financial statements.

Key audit matters How our audit addressed the key audit matter
Identification and valuation of slow moving inventories (Refer Note 8 to the Ind-AS financial statement)
As at March 31 2020 the carrying value of inventories amounted to Rs. 32905.13 lakhs. The inventories are valued at lower of cost or net realizable value. • We obtained understanding of how the management identifies the slow-moving inventories and estimates the net realizable value of slow-moving inventories.
The Company has a process of identifying slow moving inventories on periodic basis and determining net realizable value of these inventories based on an estimate • We also assessed reasonableness of the allowance policy based on historical sales performance of the products.
We identified allowance of slow moving inventories as a key audit matter due to the critical judgement exercised by the Company's management in identifying the slow-moving inventories and estimating the amount of allowance for inventories. • We obtained the list of slow moving inventories from the Company and compared the same with movements of inventories on test check basis.
• We have obtained the working of net realizable value for slow moving inventories and tested the net realizable value of these inventories on sample basis by comparing it with the past sales transactions.
• We assessed the valuation of slow moving inventories
Tax Litigations (as described in note 36 of the Ind AS financial statements)
As at the balance sheet date the Company has certain tax litigations which are pending with various level of judicial authorities. The total tax exposure amount as at March 31 2020 is Rs. 18880.67 lakhs. The Company has tax balances recoverable of Rs. 2608.90 lakhs related to these tax exposures. The recoverability of these tax balances are dependent on the outcome of these tax litigations. • We Obtained the list of tax litigations from the Company
The accounting for these uncertain tax positions comprise significant judgement by the Management mainly in the area whether to recognize these uncertain positions as a contingent liability or as a provision and also the recoverability of outstanding tax receivable. Given the high level of management judgement tax laws interpretations and significant amount of litigations involved we considered this area to be important for our audit. • We have read the orders issued by tax authorities and the appeals filed by tax department/company.
• We have obtained and read Company's submissions to tax authorities on these litigation matters. We have also read the tax opinions of management's experts wherever available
• We involved our tax specialists who evaluated material tax litigations for past precedents and for compliance with tax laws.
• We have assessed the accounting / disclosures related to these litigations in the financial statements.

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

The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in the Director's report but does notinclude the Ind AS financial statements and our auditor's report thereon.

Our opinion on the Ind AS financial statements does not cover the other information andwe do not express any form of assurance conclusion thereon.

In connection with our audit of the Ind AS financial statements our responsibility isto read the other information and in doing so consider whether such other information ismaterially inconsistent with the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated. If based on the work we haveperformed we conclude that there is a material misstatement of this other information weare required to report that fact. We have nothing to report in this regard.

Responsibilities of Management for the Ind AS Financial 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 Ind AS financial statementsthat give a true and fair view of the financial position financial performance includingother comprehensive income cash flows and changes in equity of the Company in accordancewith the accounting principles generally accepted in India including the IndianAccounting 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 Ind AS financial statementsthat give a true and fair view and are free from material misstatement whether due tofraud or error. In preparing the Ind AS financial statements management is responsiblefor assessing the Company's ability to continue as a going concern disclosing asapplicable matters related to going concern and using the going concern basis ofaccounting 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 the Company's financialreporting process.

Auditor's Responsibilities for the Audit of the Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Ind AS 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 with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these Ind AS 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 Ind AS 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 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 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 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.

• Evaluate the overall presentation structure and content of the Ind AS financialstatements including the disclosures and whether the Ind AS financial statementsrepresent the underlying transactions and events in a manner that achieves fairpresentation.

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant de ciencies in internal control that we identify during our audit. We alsoprovide those charged with governance with a statement that we have complied with relevantethical requirements regarding independence and to communicate with them allrelationships 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 Ind AS financial statements forthe financial year ended March 31 2020 and are therefore the key audit matters. Wedescribe these matters in our auditor's report unless law or regulation precludes publicdisclosure about the matter or when in extremely rare circumstances we determine that amatter should not be communicated in our report because the adverse consequences of doingso would reasonably be expected to outweigh the public interest benefits of suchcommunication.

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 ofthe Act we give in the "Annexure 1" a statement on the matters specified inparagraphs 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 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 Cash Flow Statement and Statement of Changes in Equity dealt with by thisReport are in agreement with the books of account;

(d) In our opinion the aforesaid Ind AS financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Companies (IndianAccounting Standards) Rules 2015 as amended;

(e) On the basis of the written representations received from the directors as on March31 2020 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2020 from being appointed as a director in terms of Section 164 (2) of theAct;

(f) With respect to the adequacy of the internal financial controls over financialreporting of the Company with reference to these Ind AS financial statements and theoperating effectiveness of such controls refer to our separate Report in "Annexure2" to this report;

(g) In our opinion the managerial remuneration for the year ended March 31 2020 hasbeen paid / provided by the Company to its directors in accordance with the provisions ofsection 197 read with Schedule V to the Act;

(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 Ind AS financial statements – Refer Note 36 to the Ind AS financialstatements;

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses;

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

For S R B C & CO LLP Chartered Accountants

ICAI Firm Registration Number: 324982E/E300003

per Jayesh Gandhi Partner

Membership Number: 037924 UDIN: 20037924AAAADW9843 Place of Signature: Mumbai Date:June 26 2020

Annexure 1 to the Independent Auditor's Report referred to in paragraph 1 under theheading ‘Report on Other Legal and Regulatory Requirements' of our report of evendate on the Ind AS financial statements of MIRC Electronics Limited

(i) In respect of its fixed assets:

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

(b) All fixed assets have not been physically verified by the management during theyear but there is a regular programme of verification which in our opinion is reasonablehaving regard to the size of the Company and the nature of its assets. No materialdiscrepancies were noticed on such verification.

(c) According to the information and explanations given by the management the titledeeds of immovable properties included in property plant and equipment are held in thename of the Company.

(ii) The management has conducted physical verification of inventory at reasonableintervals during the year and no material discrepancies were noticed on such physicalverification. There was no inventory lying with third parties.

(iii) According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to companies firms Limited LiabilityPartnerships or other parties covered in the register maintained under section 189 of theCompanies Act 2013. Accordingly the provisions of clause 3(iii)(a) (b) and (c) of theOrder are not applicable to the Company and hence not commented upon.

(iv) In our opinion and according to the information and explanations given to usthere are no loans investments guarantees and securities given in respect of whichprovisions of section 185 and 186 of the Act are applicable and hence not commented upon.

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

(vi) We have broadly reviewed the books of account maintained by the Company pursuantto the rules made by the Central Government for the maintenance of cost records undersection 148(1) of the Act manufacture or service of consumer appliances and are of theopinion that prima facie the specified accounts and records have been made andmaintained. We have not however made a detailed examination of the same.

(vii) According to the information and explanations given to us in respect of statutorydues:

(a) The Company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund employees' state insuranceincome-tax sales-tax service tax duty of custom duty of excise value added tax goodsand service tax cess and other statutory dues applicable to it. The payment of Goods andServices Tax for the month of March 2020 has been paid on 24th June 2020 as allowed byNotification Nos.31/2020 and 32/2020 dated 03.04.2020 issued by the Govt. of IndiaMinistry of Revenue (Department of Revenue) Central Board of Indirect Taxes and Customs.

(b) According to the information and explanations given to us undisputed dues inrespect of provident fund employees' state insurance income-tax service tax sales-taxduty of custom duty of excise value added tax goods and service tax cess and otherstatutory dues which were outstanding at the year end for a period of more than sixmonths from the date they became payable are as follows: Statement of Arrears ofStatutory Dues Outstanding for More than Six Months:

Name of the statute Nature of the dues Amount (Rs. In lakhs) Period to which the amount relates Due Date Date of payment
The Employees Provident Fund and Miscellaneous Provisions Act 1952 Provident Fund 5.16 August 2017 to August 2018 September 15 2017 To September 15 2018 Not yet paid

(c) According to the records of the Company the dues of income-tax sales-tax servicetax duty of custom duty of excise value added tax and cess on account of any disputeare as follows:

Name of the statute Nature of Dues Amount of dispute in lakhs Period to which the amount relates* Forum where the dispute is pending
The Income-tax Act 1961 Income Tax 217.05 92.78 539.52 2009-10 2011-12 & 2012-13 2015-16 2000-01 2001-02 2003-04 2005-06 2007-08 2010-11 ITAT CIT(A) High Court
The Finance Act 1994 Service Tax 5971.85 2005-2015 CESTAT
129.31 2016 High Court
7.96 Jan 16 to Jun 17 Commissioner (Appeals)
The Central Excise Act 1944 Excise Duty 230.75 March 2012 to December 2012 (2012-13) Dec 2007 - Dec 2015 Commissioner (Appeals)
10.00 1998-99 HIGH COURT
215.93 December 2007 to March 2016 CESTAT
2.02 1997-98 1999-00 Commissioner of Central Excise
Customs Duty Customs Duty 22.40 2013 CESTAT
50.88 2013 2014 Commissioner of Customs
0.10 2016 Commissioner of Customs (Appeals)
88.74 2015 2016 Deputy Commissioner of Customs
The Sales Tax Act (Centre and state) Sales Tax (Centre and state) 0.03 0.87 2009-10 2011-12 2011 AA Shrinagar/ Jammu circle J Additional Commissioner (Appeals)
18.81 2011-12 2013-14 Appellate Authority
672.48 2011-13 Assessing Authority
269.90 2011-15 Assistant Commissioner
9.72 1998 Board of Madhya Pradesh Commercial Taxes Bhopal
83.38 2007-09 Commissioner
410.20 2000-01 2008-09 Deputy Commissioner (Appeals)
128.52 1993 1994 Deputy excise and taxation Commissioner/ Commercial Taxes/Sales tax
1996 to 2010 2013
167.22 2011 2016 Deputy Commissioner
4.09 2009 Excise & Taxation officer
217.77 2003- 2005 2011 High Court
32.17 2001-02 2003-04 2005-06 2008-09 Joint Commissioner
2010-11 2012-13 2013-14 2014-15
2015-16 2016-17
5156.99 2005-06 2006-07 2007-08 2009-10 Joint Commissioner (Appeals)
2011-12 2012-13 2013-14 2014-15
2015-16
450.71 2006-11 Revisional Board
18.35 2011-13 VAT Officer
1.69 2013 Sr. Joint commissioner
1080.17 2008 2010 2011 Supreme Court
162.90 2002-03 2003-04 2005-06 2006-07 Tribunal

(viii) In our opinion and according to the information and explanations given by themanagement the Company has not defaulted in repayment of loans or borrowing to afinancial institution bank or government. The Company did not have any loans or borrowingin respect of debentures during the year.

(ix) In our opinion and according to the information and explanations given by themanagement the Company has utilized the monies raised by way of term loans for thepurposes for which they were raised other than temporary deployment pending applicationof proceeds. The Company has not raised any money way of initial public offer / furtherpublic offer / debt instruments.

(x) Based upon the audit procedures performed for the purpose of reporting the true andfair view of the financial statements and according to the information and explanationsgiven by the management we report that no fraud by the Company or no fraud on the Companyby the officers and employees of the Company has been noticed or reported during the year.(xi) According to the information and explanations given by the management the managerialremuneration has been paid / provided in accordance with the requisite approvals mandatedby the provisions of section 197 read with Schedule V to the Act.

(xii) In our opinion the Company is not a nidhi company. Therefore the provisions ofclause 3(xii) of the order are not applicable to the Company and hence not commented upon.(xiii) According to the information and explanations given by the management transactionswith the related parties are in compliance with section 177 and 188 of Act whereapplicable and the details have been disclosed in the notes to the Ind AS financialstatements as required by the applicable accounting standards.

(xiv) According to the information and explanations given to us and on an overallexamination of the balance sheet the Company has not made any preferential allotment orprivate placement of shares or fully or partly convertible debentures during the yearunder review and hence reporting requirements under clause 3(xiv) of the Order are notapplicable to the Company and not commented upon.

(xv) According to the information and explanations given by the management the Companyhas not entered into any non-cash transactions with directors or persons connected withhim as referred to in section 192 of Act.

(xvi) According to the information and explanations given to us the provisions ofsection 45-IA of the Reserve Bank of India Act 1934 are not applicable to the Company.

For S R B C & CO LLP Chartered Accountants

ICAI Firm Registration Number: 324982E/E300003

per Jayesh Gandhi Partner

Membership Number: 037924 UDIN: 20037924AAAADW9843 Place of Signature: Mumbai Date:June 26 2020

Annexure 2 to the Independent Auditor's Report of Even Date on the Ind AS FinancialStatements of MIRC Electronics Limited Report on the Internal Financial Controls underClause (i) of Sub-section 3 of Section 143 of the Companies Act 2013 ("theAct")

We have audited the internal financial controls over financial reporting of MIRCElectronics Limited ("the Company") as of March 31 2020 in conjunction with ouraudit of the Ind AS financial statements of the Company for the year ended on that date.

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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to the Company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Act.

Auditor's Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting with reference to these Ind AS 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 Act to the extentapplicable to an audit of internal financial controls and both issued by the Institute ofChartered Accountants of India. Those Standards and the Guidance Note require that wecomply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financial reporting withreference to these Ind AS financial statements was established and maintained and if suchcontrols operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls over financial reporting with reference to these Ind ASfinancial statements and their operating effectiveness. Our audit of internal financialcontrols over financial reporting included obtaining an understanding of internalfinancial controls over financial reporting with reference to these Ind AS 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 and appropriate toprovide a basis for our audit opinion on the internal financial controls over financialreporting with reference to these Ind AS financial statements.

Meaning of Internal Financial Controls Over Financial Reporting With Reference to theseFinancial Statements

A company's internal financial control over financial reporting with reference to theseInd AS financial statements is a process designed to provide reasonable assuranceregarding the reliability of financial reporting and the preparation of financialstatements for external purposes in accordance with generally accepted accountingprinciples. A company's internal financial control over financial reporting with referenceto these Ind AS financial statements includes 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 Over Financial Reporting WithReference to these Ind AS Financial Statements

Because of the inherent limitations of internal financial controls over financialreporting with reference to these Ind AS financial statements including the possibilityof collusion or improper management override of controls material misstatements due toerror or fraud may occur and not be detected. Also projections of any evaluation of theinternal financial controls over financial reporting with reference to these Ind ASfinancial statements to future periods are subject to the risk that the internal financialcontrol over financial reporting with reference to these Ind AS financial statements maybecome inadequate because of changes in conditions or that the degree of compliance withthe policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects adequate internal financialcontrols over financial reporting with reference to these Ind AS financial statements andsuch internal financial controls over financial reporting with reference to these Ind ASfinancial statements were operating effectively as at March 31 2020 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 B C & CO LLP Chartered Accountants

ICAI Firm Registration Number: 324982E/E300003

per Jayesh Gandhi Partner

Membership Number: 037924 UDIN: 20037924AAAADW9843 Place of Signature: Mumbai Date:June 26 2020

.