THE MEMBERS OF
RADIX INDUSTRIES (INDIA) LIMITED
Report on the Financial Statements:
We have audited the accompanying standalone Ind AS financial statementsof M/s. RADIX INDUSTRIES (INDIA) LIMITED ("the Company") which comprise theBalance Sheet as at 31st March 2018 and the Statement of Profit and Loss(including Other Comprehensive Income) the Cash Flow Statement and the Statement ofChanges in Equity for the year then ended and a summary of the significant accountingpolicies and other explanatory information.
Management's Responsibility for the Standalone Financial Statements
The Companies Act 2013 ("the Act") with respect to thepreparation of these standalone Ind AS financial statements that give a true and fair viewof the state of affairs (financial position) profit or loss (financial performanceincluding other comprehensive income) cash flows and changes in equity of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (Ind AS) prescribed under section 133 of the Act. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the standalone Ind AS financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.
Our responsibility is to express an opinion on these standalone Ind ASfinancial statements based on our audit. We have taken into account the provisions of theAct the accounting and auditing standards and matters which are required to be includedin the audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit of the standalone Ind AS financial statements inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the standalone Ind AS financialstatements are free from material misstatement. An audit involves performing procedures toobtain audit evidence about the amounts and the disclosures in the standalone Ind ASfinancial statements. The procedures selected depend on the auditor's judgment includingthe assessment of the risks of material misstatement of the standalone Ind AS financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial control relevant to the Company's preparation of thestandalone Ind AS financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company's Directors as well as evaluating theoverall presentation of the standalone Ind AS financial statements. We believe that theaudit evidence we have obtained is sufficient and appropriate to provide a basis for ouraudit opinion on the standalone Ind AS financial statements.
In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone Ind AS financial statements give theinformation required by the Act in the manner so required and give a true and fair view inconformity with the accounting principles generally accepted in India including the IndAS of the state of affairs (financial position) of the Company as at 31st March 2018and its profit/loss (financial performance including other comprehensive income) its cashflows and the changes in equity for the year ended on that date.
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 in terms of Section 143(11) ofthe Act we give in "Annexure A" 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 obtained all the information and explanations which to thebest of our knowledge and belief were necessary for the purpose of our audit;
b. in our opinion proper books of account as required by law have beenkept by the Company so far as appears from our examination of those books;
c. the Balance Sheet Statement of Profit and Loss and Cash FlowStatement dealt with by this Report are in agreement with the books of account;
d. In our opinion the Balance Sheet the Statement of Profit and Lossand the Cash Flow Statement comply with the Accounting Standards specified under Section133 of the Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules 2014.
e. On the basis of written representations received from the directorsas on March 31 2018 and taken on record by the Board of Directors none of the directorsis disqualified as on March 31 2018 from being appointed as a director in terms ofSection 164(2) of the Companies Act 2013.
f. With respect to the adequacy of internal financial control overfinancial reporting of the Company and the operating effectiveness of such control referto our separate report in "Annexure B".
g. With respect to the other matters included in the Auditor's Reportin accordance with Rule 11 of the Companies (Audit and Auditors) Rule 2014 in ouropinion and to our best of our information and according to the explanations given to us:
i. The Company does not have any pending litigations which would impactits financial position as on reporting date.
ii. The Company did not have any long-term contracts includingderivatives contracts for which there were any material foreseeable losses.
iii. There were no amounts which required to be transferred to theInvestor Education and Protection Fund by the Company.
| ||For CHEVUTURI ASSOCIATES |
| ||Chartered Accountants |
| ||Firm Reg. No.000632S |
| ||Sd/- |
| ||(CA. Srinivasa Rao Cherukuri) |
|Place: Tanuku ||Partner |
|Date: 24th May 2018 ||M.No. 209237 |