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Sundram Fasteners Ltd.

BSE: 500403 Sector: Engineering
NSE: SUNDRMFAST ISIN Code: INE387A01021
BSE 00:00 | 03 Jul 390.65 10.50
(2.76%)
OPEN

382.45

HIGH

394.50

LOW

379.05

NSE 00:00 | 03 Jul 389.95 8.75
(2.30%)
OPEN

383.70

HIGH

394.05

LOW

378.05

OPEN 382.45
PREVIOUS CLOSE 380.15
VOLUME 1955
52-Week high 533.00
52-Week low 249.00
P/E 25.45
Mkt Cap.(Rs cr) 8,208
Buy Price 389.70
Buy Qty 10.00
Sell Price 390.65
Sell Qty 50.00
OPEN 382.45
CLOSE 380.15
VOLUME 1955
52-Week high 533.00
52-Week low 249.00
P/E 25.45
Mkt Cap.(Rs cr) 8,208
Buy Price 389.70
Buy Qty 10.00
Sell Price 390.65
Sell Qty 50.00

Sundram Fasteners Ltd. (SUNDRMFAST) - Auditors Report

Company auditors report

To the Members of Sundram Fasteners Limited

Report on the Audit of Standalone Indian Accounting Standards (‘Ind AS') financialstatements Opinion

We have audited the Standalone Ind AS financial statements of Sundram Fasteners Limited("the Company") which comprise the standalone balance sheet as at March 312019 and the standalone statement of profit and loss (including other comprehensiveincome) standalone statement of changes in equity and standalone statement of cash fl owsfor the year then ended and notes to the Standalone Ind AS financial statementsincluding a summary of significant accounting policies and other explanatory information.(hereinafter referred to as "the Standalone Ind AS financial statements"). Inour opinion and to the best of our information and according to the explanations given tous the aforesaid Standalone Ind AS financial statements give the information required bythe Companies Act 2013 ("Act") in the manner so required and give a true andfair view in conformity with the accounting principles generally accepted in India of thestate of affairs of the Company as at March 31 2019 its profit and other comprehensiveincome changes in equity and its cash fl ows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Act. Our responsibilities under those SAs are furtherdescribed in the Auditor's Responsibilities for the Audit of the Standalone Ind ASFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of theStandalone Ind AS financial statements under the provisions of the Act and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the Standalone Ind AS financial statements of the currentperiod. These matters were addressed in the context of our audit of the Standalone Ind ASfinancial statements as a whole and in forming our opinion thereon and we do not providea separate opinion on these matters.

Description of Key Audit Matter

Revenue recognition under new accounting standard Ind AS 115: Revenue from Contractswith Customers

The key audit matter How the matter was addressed in our audit
The Company has adopted Ind AS 115 - Revenue from Contracts with Customers (Ind AS 115) which is the new revenue accounting standard. In view of the significance of the matter we applied the following key audit procedures:
Ind AS 115 is effective for the year beginning April 1 2018 and establishes a comprehensive framework for determining whether how much and when revenue is recognized. This involves certain key judgments relating to identification of distinct performance obligations determination of transaction price and appropriateness of the basis used to measure revenue recognized over a period or at a point in time. Revenue is recognized when (or as) a performance obligation is satisfied i.e. when ‘control' of the goods or services underlying the particular performance obligation is transferred to the customer. • Testing the design and operating effectiveness of controls relating to implementation of the new revenue accounting standard.
• Verifying management's assessment of different types of customer contracts including the terms of contract and commercial substance thereof in order to assess the adherence to revised accounting policies in light of the requirements of Ind AS 115.
• Selecting samples of existing and new contracts testing management's assessment relating to identification of distinct performance obligations and determination of transaction prices.
In view of the above the application and transition to this accounting standard is an area of focus in our audit. • Additionally we also evaluated the adequacy of disclosures made in the financial statements.
See note 22 to the Standalone Ind AS financial statements

Property plant and equipment

The key audit matter How the matter was addressed in our audit
During the year the Company has incurred significant capital expenditure on multiple projects undertaken by it towards capacity augmentation / expansion. In view of the significance of the matter we applied the following key audit procedures:
• Assessed whether the Company's accounting policy with respect to capitalization of expenditure is in accordance with the requirements of relevant accounting standards.
This matter is of importance to our audit due to the nature and volume of transactions risk that the amount capitalized do not meet the capitalization criteria and risk of inappropriate classification of capital and revenue expenditure. • Obtaining an understanding of and assessing the design implementation and operating effectiveness of controls surrounding the implementation of the aforesaid policy in particular with respect to segregation of capital and revenue expenditure.
See note 5(a) and 5(b) to the Standalone Ind AS financial statements
• Also verified samples of costs incurred towards capital projects in evaluating management's assessment of whether costs recorded meet the capitalization criteria and that the classification of expenditure is appropriate.

Taxation and contingent liability related matters

The key audit matter How the matter was addressed in our audit
Determination of tax provisions and assessment of contingent liabilities involves judgment with respect to various tax positions on deductibility of transactions tax incentives/ exemptions interpretation of laws and regulations etc. Judgment is also required in assessing the range of possible outcomes for some of these matters. In view of the significance of the matter we applied the following key audit procedures:
• We evaluated management's judgements in respect of estimates of provisions exposures and contingencies.
Management makes an assessment to determine the outcome of these matters and decides to make an accrual or consider it to be a possible contingent liability in accordance with applicable accounting standards. • In understanding and evaluating management's judgements we deployed our tax specialists considered third party advice received by the Company wherever applicable the status of recent and current tax assessments and enquiries the outcome of previous claims judgmental positions taken in tax returns and developments in the tax environment.
Accordingly taxation and contingent liability related matters are areas of focus in our audit. • Additionally we also evaluated the adequacy of disclosures on provisions and contingencies made in the financial statements.
See note 17 and 34 to the Standalone Ind AS financial statements

Information Other than the Standalone Ind AS financial statements and Auditors' ReportThereon

The Company's management and Board of Directors are responsible for the otherinformation. The other information comprises the information included in the Company'sannual report but does not include the financial statements and our auditor's reportthereon.

Our opinion on the Standalone Ind AS financial statements does not cover the otherinformation and we do not express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Ind AS financial statements ourresponsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the Standalone Ind AS financialstatements or our knowledge obtained in the audit or otherwise appears to be materiallymisstated. 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's Responsibility for the Standalone Ind AS financial statements

The Company's management and Board of Directors are responsible for the matters statedin section 134(5) of the Act with respect to the preparation of these Standalone Ind ASfinancial statements that give a true and fair view of the state of affairs profit/lossand other comprehensive income changes in equity and cash fl ows of the Company inaccordance with the accounting principles generally accepted in India including theIndian Accounting Standards (Ind AS) specified under section 133 of the Act. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of 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.

In preparing the Standalone Ind AS financial statements management and Board ofDirectors are responsible for assessing the Company's ability to continue as a goingconcern disclosing as applicable matters related to going concern and using the goingconcern basis of accounting unless management either intends to liquidate the Company orto cease operations or has no realistic alternative but to do so.

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

Auditor's Responsibilities for the Audit of the Standalone Ind AS financial statements

Our objectives are to obtain reasonable assurance about whether the Standalone Ind ASfinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to infl uence the economic decisions of userstaken on the basis of these Standalone Ind AS financial statements. As part of an audit inaccordance with SAs we exercise professional judgment and maintain professionalskepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Standalone Ind ASfinancial 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 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 Standalone Ind AS financial statements or if such disclosures are inadequate tomodify our opinion. Our conclusions are based on the audit evidence obtained up to thedate of our auditor's report. However future events or conditions may cause the Companyto cease to continue as a going concern.

• Evaluate the overall presentation structure and content of the Standalone IndAS financial statements including the disclosures and whether the Standalone Ind ASfinancial statements represent the underlying transactions and events in a manner thatachieves 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 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 Standalone Ind AS financialstatements of the current period and are therefore the key audit matters. We describethese matters in our auditor's report unless law or regulation precludes public disclosureabout the matter or when in extremely rare circumstances we determine that a mattershould not be communicated in our report because the adverse consequences of doing sowould reasonably be expected to outweigh the public interest benefits of suchcommunication.

Report on Other Legal and Regulatory Requirements

(A) As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of Section 143(11) of the Act we givein "Annexure A" a statement on the matters specified in paragraphs 3 and 4 ofthe Order to the extent applicable.

(B) 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 ouropinion proper books of account as required by law have been kept by the Company so faras it appears from our examination of those books

c) The standalone balance sheet the standalone statement of profit and loss (includingother comprehensive income) the standalone statement of changes in equity and thestandalone statement of cash fl ows dealt with by this Report are in agreement with thebooks of account

d) In our opinion the aforesaid Standalone Ind AS financial statements comply with theInd AS specified under section 133 of the Act.

e) On the basis of the written representations received from the directors as on March31 2019 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2019 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 with reference tofinancial statements of the Company and the operating effectiveness of such controlsrefer to our separate Report in "Annexure B".

(C) With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditor's) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations as at March 31 2019 onits financial position in its Standalone Ind AS financial statements - Refer Note 34 tothe Standalone Ind AS financial statements; ii. The Company did not have any long termcontracts including derivative contracts for which there were any material foreseeablelosses; iii. There has been no delay in transferring amounts required to be transferredto the Investor Education and Protection Fund by the Company;

iv. The disclosures in the Standalone Ind AS financial statements regarding holdings aswell as dealings in specified bank notes during the period from November 8 2016 toDecember 30 2016 have not been made in these Standalone Ind AS financial statements sincethey do not pertain to the financial year ended March 31 2019.

(D) With respect to the matter to be included in the Auditor's Report under section197(16):

In our opinion and according to the information and explanations given to us theremuneration paid by the company to its directors during the current year is in accordancewith the provisions of Section 197 of the Act. The remuneration paid to any director isnot in excess of the limit laid down under Section 197 of the Act. The Ministry ofCorporate Affairs has not prescribed other details under Section 197(16) which arerequired to be commented upon by us.

for B S R & Co. LLP
Chartered Accountants
Firm's Registration number: 101248W/W-100022
S Sethuraman
Partner
Membership No.: 203491
Place : Chennai
Date : May 9 2019

Annexure A to the Independent Auditor's Report

To the Members of Sundram Fasteners Limited on the Standalone Ind AS financialstatements for the year ended March 31 2019 (Referred to in paragraph (A) under‘Report on Other Legal and Regulatory Requirements' section of our report of evendate)

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

(b) The Company has a regular programme of physical verification of its fixed assets bywhich all fixed assets are verified in a phased manner. In our opinion this periodicityof physical verification is reasonable having regard to the size of the Company and thenature of its assets. Pursuant to the programme certain fixed assets were physicallyverified during the year and no material discrepancies were noticed on such verification.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

(ii) The inventory except goods in transit and certain stocks lying with thirdparties has been physically verified by the management during the year. In our opinionthe frequency of such verification is reasonable. The discrepancies noticed onverification between the physical stocks and the book records were not material. For stocklying with third parties at the year end written confirmations have been obtained by themanagement.

(iii) The Company has not granted any loan secured or unsecured to companies firmslimited liability partnerships or other parties covered in the register required undersection 189 of the Act. Accordingly paragraph 3(iii) of the Order is not applicable.

(iv) According to the information and explanations given to us the Company hascomplied with the provisions of sections 185 and 186 of the Act with respect to loansinvestments guarantees and security as applicable. (v) In our opinion and according tothe information and explanations given to us the Company has not accepted any deposits asmentioned in the directives issued by Reserve Bank of India and the provisions of sections73 to 76 or any other relevant provisions of the Act and the rules framed thereunder.Accordingly paragraph 3(v) of the Order is 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 undersubsection (1) of Section 148 of the Act in respect of products manufactured and are ofthe opinion that prima facie the prescribed accounts and records have been made andmaintained. However we have not made a detailed examination of the records.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of the records of the Company amounts deducted / accrued in the books ofaccount in respect of undisputed statutory dues including provident fund employees stateinsurance income tax duty of customs goods and service tax and other material statutorydues have generally been regularly deposited by the Company with the appropriateauthorities. As explained to us the Company did not have any dues on account of cesssales tax service tax duty of excise and value added tax. According to the informationand explanations given to us no undisputed amounts payable in respect of provident fundemployees state insurance income tax duty of customs goods and service tax and othermaterial statutory dues were in arrears as at March 31 2019 for a period of more than sixmonths from the date they became payable.

(b) According to the information and explanations given to us the dues set out inAppendix I in respect of income tax sales tax service tax duty of customs duty ofexcise value added tax and goods and service tax have not been deposited by the Companyon account of disputes.

(viii) In our opinion and according to the information and explanations given to usthe Company has not defaulted in repayment of dues to banks or financial institutions. TheCompany has not taken any loans or borrowings from government and have not issued anydebentures.

(ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) during the year. According to information andexplanations given to us money raised through term loans during the year has beenutilised for the purpose for which there were raised.

(x) According to the information and explanations given to us no fraud by the Companyor any material fraud on the Company by its officers or employees has been noticed orreported during the course of our audit.

(xi) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the managerial remuneration for the year endedMarch 31 2019 has been paid or provided in accordance with the requisite approvalsmandated by the provisions of section 197 read with Schedule V to the Act and rules framedthereunder.

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

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable. The details of suchrelated party transactions have been disclosed in the Standalone Ind AS financialstatements as required under applicable accounting standards.

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

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

(xvi) The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934. Accordingly paragraph 3(xvi) of the Order is not applicable.

for B S R & Co. LLP

Chartered Accountants

Firm's Registration number: 101248W/W-100022

S Sethuraman

Partner

Membership No.: 203491

Place : Chennai

Date : May 9 2019

Appendix I as referred to under para (vii)(b) of Annexure A to the IndependentAuditor's Report

To the Members of Sundram Fasteners Limited on the Standalone Ind AS financialstatements for the year ended March 31 2019

Name of the Statute Nature of the Dues Amount* (Rs in crores) Period to which the amount relates Forum where the dispute is pending
Central Excise Act 1944 Excise duty 7.34 FY 2004-16 Customs Excise and Service tax Appellate Tribunal
1.12 FY 2005-17 Commissioner - Appeals
0.21 FY 2009-18 Adjudicating authority/ Assessing Officer/ Division
Finance Act 1994 Service tax 0.49 FY 2004-18 Customs Excise and Service tax Appellate Tribunal
1.60 FY 2008-16 Commissioner – Appeals
1.59 FY 2008-17 Joint / Deputy / Assistant / Additional Commissioner
0.11 FY 2012-16 Adjudicating authority/ Assessing Officer/ Division
Income Tax Act 1961 Income-tax dues 1.11 AY 2006-07 The Commissioner of Income-tax (Appeals)
Income Tax Act 1961 Income-tax dues 1.31 AY 2012-13 The Income tax Appellate Tribunal
Income Tax Act 1961 Income-tax dues 0.13 AY 2012-13 The Commissioner of Income-tax (Appeals)
Income Tax Act 1961 Income-tax dues 1.27 AY 2013-14 The Income tax Appellate Tribunal
Income Tax Act 1961 Income-tax dues 15.05 AY 2014-15 The Commissioner of Income-tax (Appeals)
Tamil Nadu Value Added Tax Sales tax 0.77 FY 2006-17 Joint/Deputy/Assistant/
Act 2006 Telangana Value Additional Commissioner
Added Tax Act 2005 Central 0.34 FY 2014-17 High Court of Madras
Sales Tax Act 1956
Customs Act 1962 Customs duty 0.69 FY 2014-15 Customs Excise and Service tax Appellate
Tribunal
0.65 FY 2014-15 High Court of Madras

* net of amount paid under protest

Annexure B to the Independent Auditor's Report

To the Members of Sundram Fasteners Limited on the Standalone Ind AS financialstatements for the year ended March 31 2019

Report on the Internal Financial Controls with reference to financial statements underclause (i) of sub-section 3 of section 143 of the Companies Act 2013 ("theAct") (Referred to in paragraph ((B)(f)) under ‘Report on Other Legal andRegulatory Requirements' section of our report of even date)

Opinion

We have audited the internal financial controls with reference to financial statementsof Sundram Fasteners Limited ("the Company") as of March 31 2019 inconjunction with our audit of the Standalone Ind AS financial statements of the Companyfor the year ended on that date.

In our opinion the Company has in all material respects an adequate internalfinancial controls with reference to financial statements and such internal financialcontrols were operating effectively as at March 31 2019 based on the internal financialcontrols with reference to financial statements criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls over Financial Reporting (the "GuidanceNote") issued by the Institute of Chartered Accountants of India (‘ICAI').

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal financial controls with reference to financialstatements established by the Company considering the essential components of internalcontrol stated in the Guidance Note issued by ICAI. These responsibilities include thedesign implementation and maintenance of adequate internal financial controls that wereoperating effectively as at March 31 2019 for ensuring the orderly and efficient conductof its business including adherence to company's policies the safeguarding of itsassets the prevention and detection of frauds and errors the accuracy and completenessof the accounting records and the timely preparation of reliable financial informationas required under the Act.

Auditor's Responsibility

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 Guidance Note and the standards on auditing issued by ICAI anddeemed to be prescribed under section 143(10) of the Act to the extent applicable to anaudit of internal financial controls. Those Standards and the Guidance Note require thatwe comply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls with reference to financialstatements was established and maintained and if such controls operated effectively in allmaterial respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system with reference to financial statements and theiroperating effectiveness. Our audit of internal financial controls with reference tofinancial statements included obtaining an understanding of internal financial controlswith reference to financial statements assessing the risk that a material weaknessexists and testing and evaluating the design and operating effectiveness of internalcontrol based on the assessed risk. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements 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 systemwith reference to financial statements.

Meaning of Internal financial controls with reference to financial statements

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 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) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial effect on the financial statements.

Inherent limitations of internal financial controls with reference to financialstatements

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.

For B S R & Co. LLP

Chartered Accountants

Firm's Registration number: 101248W/W-100022

S Sethuraman

Partner

Membership No.: 203491

Place : Chennai

Date : May 9 2019