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Sharat Industries Ltd.

BSE: 519397 Sector: Others
NSE: SHARTSEFOD ISIN Code: INE220Z01013
BSE 00:00 | 12 May 28.80 0.80
(2.86%)
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NSE 05:30 | 01 Jan Sharat Industries Ltd
OPEN 29.40
PREVIOUS CLOSE 28.00
VOLUME 1558
52-Week high 34.35
52-Week low 18.40
P/E 24.00
Mkt Cap.(Rs cr) 63
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 29.40
CLOSE 28.00
VOLUME 1558
52-Week high 34.35
52-Week low 18.40
P/E 24.00
Mkt Cap.(Rs cr) 63
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sharat Industries Ltd. (SHARTSEFOD) - Auditors Report

Company auditors report

To

The Members of Sharat Industries Limited

Report on the Standalone Ind AS Financial Statements

Opinion

We have audited the accompanying standalone Ind AS financial statements of SharatIndustries Limited ("the Company") which comprise the Balance Sheet as at 31stMarch 2020 the Statement of Profit and Loss (including other comprehensive income) forthe year then ended the Cash Flows and the Statement of Changes in Equity for the yearthen ended and a summary of the significant accounting policies and other explanatoryinformation (hereinafter referred to as "the standalone Ind AS financialstatements").

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 ("Act") in the manner so required and give a true andfair view in conformity with the Indian Accounting Standards prescribed under section 133of the Act read with the Companies (Indian Accounting Standards) Rules 2015 as amended("Ind AS)" and other accounting principles generally accepted in India of thestate of affairs of the Company as at 31st March 2020 the profit for the yearended on that date total comprehensive income its cash flows and the changes in equityfor the year ended on that date.

Basis of Opinion

We conducted our audit of the standalone financial statements in accordance with theStandards on Auditing (SAs) specified under section 143(10) of the Companies Act 2013.Our responsibilities 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 together with the Ethical requirementsthat are relevant to our audit of the standalone financial statements under the provisionsof the Companies Act 2013 and the Rules there under 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 on the standalone financial statements.

Key Audit Matters

We have determined that there are no key audit matters to communicate in our report.

Information other than the financial statements and auditors' report thereon

The Company's Board of Directors are responsible for the preparation of the otherinformation. The other information comprises the information included in the Board'sReport including Annexures to Board's Report Business Responsibility Report but does notinclude the financial statements and our auditor's report thereon.

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

In connection with our audit of the financial statements our responsibility is to readthe other information and in doing so consider whether the other information ismaterially inconsistent with the standalone financial statements or our knowledge obtainedduring the course of our audit or otherwise appears to be materially misstated.

If based on the work we have performed we conclude that there is a materialmisstatement of this other information we are required to report that fact. We havenothing to report in this regard.

Management Responsibilities for the Standalone Financial Statements

The Company's Board of Directors are responsible for the matters stated in section134(5) of the Companies Act 2013 with respect to the preparation of these standalonefinancial statements that give a true and fair view of the financial position andfinancial performance of the Company in accordance with the Accounting Principlesgenerally accepted in India including the Accounting Standards specified under section133 of the Act. This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgements and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone financial statements that give a true and fair view and are free frommaterial 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 responsible for overseeing the Company's financial reportingprocess.

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 assurance is a high level of assurance but is not a guarantee that an auditconducted in accordance with SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material ifindividually or in the aggregate they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these standalone financial statements.

As part of an audit in accordance with SAs we exercise professional judgement andmaintain professional scepticism 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 controls 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 system in place and the operating effectiveness ofsuch 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 disclosure is 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 of areasonably 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 also communicate with those charged with governance regarding among other mattersthe planned scope and timing of the audit and significant audit findings that we identifyduring 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

As required by the Companies (Independent Auditor's Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of subsection (11) ofSection 143 of the Act we give in the "Annexure A" a statement on thematters specified in paragraphs 3 and 4 of the Order to the extent applicable.

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 standalone Ind AS financial statements comply with theIndian Accounting Standards specified under Section 133 of the Act read with Companies(Indian Accounting Standards) Rules 2015 as amended.

e) On the basis of the written representations received from the directors as on 31stMarch 2020 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2020 from being appointed as a director in termsof Section 164 (2) of the Act.

f) With respect of the adequacy of the Internal Financial Controls over FinancialReporting of the company and its operating effectiveness of such controls refer to ourseparate report in "Annexure B".

g) In our opinion and to the best of our information and according to the explanationsgiven to us the remuneration paid by the Company to its directors during the year is inaccordance with the provisions of section 197 of 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 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financialposition in its standalone Ind AS financial statements.

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

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund.

For A. R. Krishnan & Associates
Chartered Accountants
FRN : 009805S
A. Senthil Kumar
Partner
Place: Nellore M. No. : 214611
Date: 26th June 2020 UDIN : 20214611AAAACX3603

“Annexure A” to the Independent Auditors' Report of Sharat Industries Limited

In terms of the information and explanations sought by us and given by the Company andthe books and records examined by us in the normal course of audit and to the best of ourknowledge and belief we state that: -

i) In respect of its fixed assets:

a) The Company has maintained proper records showing full particulars includingquantitative details and situation of Property Plant and Equipment.

b) All the Property Plant and Equipment have been physically verified during the yearby the Management in accordance with a regular programme of verification which inouropinion provides for physical verification of all the Property Plant and Equipment atreasonable intervals. According to the information and explanations given to us nomaterial discrepancies were noticed on such verification.

c) According to the information and explanations given to us and the records examinedby us and based on the examination of the registered sale deed / transfer deed /conveyance deed provided to us we report that the title deeds comprising all theimmovable properties of land and buildings which are freehold are held in the name of theCompany as at the balance sheet date. Immovable properties of land and buildings whosetitle deeds have been pledged as security for loans are held in the name of the Company.

ii) In respect of inventories:

a) The Inventory has been physically verified at reasonable intervals during the yearby the management. In our opinion the frequency of verification is reasonable.

b) There are no material discrepancies noticed on physical verification between thephysical stock and the book records.

iii) In respect of loans secured or unsecured granted to companies firms limitedliability partnerships or other parties covered in the register maintained under section189 of the Companies Act 2013:

The Company has not granted any loans secured or unsecured to companies firms orother parties covered in the Register maintained under section 189 of the Companies Act2013. Accordingly the provisions of clause 3 (iii) (a) (b) and (c) of the Order are notapplicable to the Company and hence not commented upon.

iv) In respect of loans investments guarantees and security given

The provisions of Section 185 and 186 of the companies Act 2013 are not applicable tothe Company

v) In respect of public deposits:

The Company has not accepted any deposits from the public. Therefore the provisions ofsection 73 and 76 of the Companies Act 2013 and the Companies (Acceptance of Deposits)Rules 2014 (as amended) with regard to the deposits accepted from the public and from themembers are not applicable to the Company.

vi) In respect of cost records:

The Central Government of India has not prescribed the maintenance of cost recordsunder section 148 (1) of the Companies Act 2013 for any of the services rendered by theCompany.

vii) In respect of statutory dues:

a) The Company has been generally regular in depositing undisputed statutory duesincluding Provident Fund Employees State Insurance Income Tax Goods and Service TaxCustoms Duty Cess and other material statutory dues applicable to it with appropriateauthorities during the year. There were no undisputed amounts payable in respect of theaforesaid statutory dues outstanding as at March 31 2020 for a period of more than sixmonths from the date they became payable.

b) Details of dues of Income-tax Sales Tax Service Tax Customs Duty Excise Dutyand Value Added Tax which have not been deposited as on March 31 2020 on account ofdisputes are given below

Name of the Statute Nature of dues Forum where the Dispute is pending Period to which the amount relates Amount (Rs in Lakhs)
Customs Act 1962 Customs Duty In the High Court of Judicature of Andhra Pradesh at Hyderabad. 2004-2005 76.31@
Finance Act 1994 (Chapter IV) Service Tax In the High Court of Judicature of Andhra Pradesh at Hyderabad. 2015-2016 31.50*
Income Tax Act 1967 Income Tax Commissioner of Appeals 2017-2018 96.61

viii) In respect of repayment of dues to banks financial institutions and debenturesholders: The Company has not issued any debentures. In respect of dues to banks andfinancial institutions the Company is generally regular in adhering to the terms ofrepayment.

ix) In respect of moneys raised by way of initial public offer:

The Company did not raise any money by way of initial public offer or further publicoffer (including debt instruments). The term loans received during the year have beenapplied for the purposes for which they were drawn.

x) In respect of frauds:

No material fraud by the Company or on the Company by its officers or employees hasbeen noticed or reported during the course of audit.

xi) In respect of managerial remuneration:

The Company has paid / provided for managerial remuneration in accordance with therequisite approvals mandated by the provisions of Section 197 read with "Schedule-V" to the Act.

xii) In respect of Nidhi Company:

The Company is not a Nidhi Company. Accordingly paragraph 3(xii) of the Order is notapplicable.

xiii) In respect of transactions with related parties: All transactions with relatedparties are in compliance with Sections 177 and 188 of the

Companies Act 2013 where applicable and details of such transactions have beendisclosed in the Financial Statements etc. as required by the applicable accountingstandards.

xiv) In respect of preferential allotment or private placement of shares or fully orpartly convertible debentures:

The Company has not made any preferential allotment or private placement of shares offully or partly convertible debentures during the year.

xv) In respect of non-cash transactions with Directors:

The Company has not entered into any non-cash transactions with Directors or personsconnected with him hence this clause is not applicable.

xvi) In respect of registration under section 45-IA of the Reserve Bank of India Act1934:

The Company is not required to be registered under section 45-IA of the Reserve Bank ofIndia Act 1934.

For A. R. Krishnan & Associates
Chartered Accountants
FRN : 009805S
A. Senthil Kumar
Partner
Place: Nellore M. No. : 214611
Date: 26th June 2020 UDIN : 20214611AAAACX3603

“Annexure B” to the Independent Auditors' Report of Sharat Industries Limited

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of SHARATINDUSTRIES LIMITED ("the Company") as of March 31 2020 in conjunction with ouraudit of the 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 company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 deemed to be prescribedunder Section 143(10) of the Act to the extent applicable to an audit of internalfinancial controls both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting 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 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 judgement 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 and dispositionsof the assets of the company; (2) provide reasonable assurance that transactions arerecorded as necessary to permit preparation of financial statements in accordance withgenerally accepted accounting principles and that receipts and expenditures of thecompany are being made only in accordance with authorizations of management and directorsof the company; and (3) provide reasonable assurance regarding prevention or timelydetection of unauthorized acquisition use or disposition of the company's assets thatcould 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 the Company has maintained in all material respects adequate internalfinancial controls over financial reporting and such internal financial controls overfinancial reporting were operating effectively as of March 31 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 A. R. Krishnan & Associates
Chartered Accountants
FRN : 009805S
A. Senthil Kumar
Partner
Place: Nellore M. No. : 214611
Date: 26th June 2020 UDIN : 20214611AAAACX3603

Independent Auditors' Report

To

The Board of Directors Sharat Industries Limited

Report on the audit of the Annual Financial Results

Opinion

We have audited the accompanying annual financial results of SHARAT INDUSTRIES LIMITED(hereinafter referred to as the ''Company") for the year ended 31 March 2020attached herewith being submitted by the Company pursuant to the requirement ofRegulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 as amended ("Listing Regulations').

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid annual financial results:

a. are presented in accordance with the requirements of Regulation 33 of the ListingRegulations in this regard; and

b. give a true and fair view in conformity with the recognition and measurementprinciples laid down in the applicable Indian Accounting Standards and other accountingprinciples generally accepted in India of the net profit and other comprehensive incomeand other financial information for the year ended 31 March 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SAs")specified under section 143(10) of the Companies Act 2013 ("the Act"). Ourresponsibilities under those SAs are further described in the Auditor's Responsibilitiesfor the Audit of the Annual Financial Results section of our report. We are independent ofthe Company in accordance with the Code of Ethics issued by the

Institute of Chartered Accountants of India together with the ethical requirements thatare relevant to our audit of the financial statements under the provisions of the Act andthe Rules thereunder and we have fulfilled our other ethical responsibilities inaccordance with these requirements and the Code of Ethics. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for ouropinion on the annual financial results.

Emphasis of Matter

We draw attention to Note 4 in the financial results which describes the management'sassessment of the impact of uncertainties related to COVID 19 and its consequentialeffects on the business operations of the Company. Our opinion is not modified in respectof this matter.

Management's and Board of Directors' Responsibilities for the Annual Financial Results

These annual financial results have been prepared on the basis of the annual financialstatements. The Company's Management and the Board of Directors are responsible for thepreparation and presentation of these annual financial results that give a true and fairview of the net profit/loss and other comprehensive income and other financial informationin accordance with the recognition and measurement principles laid down in IndianAccounting Standards prescribed under Section 133 of the Act and other accountingprinciples generally accepted in India and in compliance with Regulation 33 of the ListingRegulations.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe annual financial results that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the annual financial results the Management and the Board of Directorsare responsible for assessing the Company's ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless the Board of Directors either intends to liquidate the Companyor to cease operations or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company's financial reportingprocess.

Auditor's Responsibilities for the Audit of the Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the annual financialresults as a whole are free from material misstatement whether due to fraud or error andto issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but 1s 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 annual financial results.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the annual financialresults whether due to fraud or error design and perform audit procedures responsive tothose 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)(1) of the Act we are also responsible for expressing our opinion through a separatereport on the complete set of financial statements on whether the company has adequateinternal financial controls with reference to financial statements in place and theoperating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures in the financial results made by theManagement and Board of Directors.

• Conclude on the appropriateness of the Management and Board of Directors use ofthe going concern basis of accounting and based on the audit evidence obtained whether amaterial uncertainty exists related to events or conditions that may cast significantdoubt on the appropriateness of this assumption. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the annual financial results or if such disclosures areinadequate to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditor's report. However future events or conditions maycause the Company to cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the annual financialresults including the disclosures and whether the annual financial results represent theunderlying transactions and events in a manner that achieves fair presentation.

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.

Other Matter

The annual financial results include the results for the quarter ended 31 March 2020being the balancing figure between the audited figures in respect of the full financialyear and the published unaudited year to date figures up to the third quarter of thecurrent financial year which were subject to limited review by us.

For A.R.Krishnan & Associates
Chartered Accountants
FRN : 009805S
A.Senthil Kumar
Partner
Place: Nellore M. No.:214611
Date: 26th June 2020 UDIN : 20214611AAAACX3603

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