Atul Ltd 2018-19

05. Information other than the Financial Statements and Auditor’s Report thereon a) The Board of Directors of the Parent is responsible for the other information. The other information comprises the information included in the Letter to shareholders, Operational highlights, Financial charts, Directors’ report îŠē Ŀƥƙ îŠŠĚǊƭƑĚȡ qîŠîijĚŞĚŠƥ 'ĿƙČƭƙƙĿūŠ îŠē Analysis, Corporate Governance Report, Business Responsibility Report, Dividend Distribution Policy and Performance trend but does not include the Standalone Financial Statements, Consolidated Financial Statements and our Auditor’s Reports thereon. b) Our opinion on the Consolidated Financial Statements does not cover the other information îŠē ǅĚ ēū Šūƥ ĚǊƎƑĚƙƙ îŠǋ ljūƑŞ ūlj îƙƙƭƑîŠČĚ conclusion thereon. c) In connection with our audit of the Consolidated Financial Statements, our responsibility is to read the other information, compare with the Financial Statements of the subsidiary companies audited ċǋ ƥĺĚ ūƥĺĚƑ ƭēĿƥūƑƙȡ ƥū ƥĺĚ ĚǊƥĚŠƥ Ŀƥ ƑĚŕîƥĚƙ ƥū these entities and, in doing so, place reliance on the work of the other Auditors and consider whether the other information is materially inconsistent with the Consolidated Financial Statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. Other information so far as it relates to the subsidiary companies, is traced from their Financial Statements audited by other Auditors. d) If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Management’s responsibility for the Consolidated Financial Statements 06. The Board of Directors of the Parent is responsible ljūƑ ƥĺĚ ŞîƥƥĚƑƙ ƙƥîƥĚē ĿŠ ¬ĚČƥĿūŠ ǧǩǪȳǫȴ ūlj ƥĺĚ Čƥ with respect to the preparation of these Consolidated Financial Statements that give a true and fair view ūlj ƥĺĚ ČūŠƙūŕĿēîƥĚē ǛŠîŠČĿîŕ ƎūƙĿƥĿūŠȡ ČūŠƙūŕĿēîƥĚē ǛŠîŠČĿîŕ ƎĚƑljūƑŞîŠČĚ ĿŠČŕƭēĿŠij ūƥĺĚƑ ČūŞƎƑĚĺĚŠƙĿǄĚ income, Consolidated Cash Flows and Consolidated ČĺîŠijĚƙ ĿŠ ĚƐƭĿƥǋ ūlj ƥĺĚ HƑūƭƎ ĿŠČŕƭēĿŠij Ŀƥƙ ŏūĿŠƥ venture company in accordance with the Ind AS and other accounting principles generally accepted in India. The respective Board of Directors of the companies ĿŠČŕƭēĚē ĿŠ ƥĺĚ HƑūƭƎ îŠē ūlj Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group îŠē Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ îŠē ljūƑ ƎƑĚǄĚŠƥĿŠij îŠē detecting frauds and other irregularities; selection and application of appropriate accounting policies; ŞîŒĿŠij ŏƭēijĚŞĚŠƥƙ îŠē ĚƙƥĿŞîƥĚƙ ƥĺîƥ îƑĚ ƑĚîƙūŠîċŕĚ and prudent; and the design, implementation and ŞîĿŠƥĚŠîŠČĚ ūlj îēĚƐƭîƥĚ ĿŠƥĚƑŠîŕ ǛŠîŠČĿîŕ ČūŠƥƑūŕƙȡ that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Consolidated Financial Statements by the Directors of the Parent, as aforesaid. 07. In preparing the Consolidated Financial Statements, the respective Board of Directors of the companies ĿŠČŕƭēĚē ĿŠ ƥĺĚ HƑūƭƎ îŠē Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ are responsible for assessing the ability of the Group îŠē ūlj Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ƥū ČūŠƥĿŠƭĚ îƙ î ijūĿŠij concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Management either intends to liquidate or to cease operations, or has no realistic alternative but to do so. 08. The respective Board of Directors of the companies ĿŠČŕƭēĚē ĿŠ ƥĺĚ HƑūƭƎ îŠē ūlj Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ îƑĚ îŕƙū ƑĚƙƎūŠƙĿċŕĚ ljūƑ ūǄĚƑƙĚĚĿŠij ƥĺĚ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ƎƑūČĚƙƙ ūlj ƥĺĚ HƑūƭƎ îŠē ūlj Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ company. Auditor’s responsibility for the audit of the Consolidated Financial Statements ǦǯȦ ~ƭƑ ūċŏĚČƥĿǄĚƙ îƑĚ ƥū ūċƥîĿŠ ƑĚîƙūŠîċŕĚ îƙƙƭƑîŠČĚ about whether the Consolidated Financial Statements 176 Atul Ltd | Annual Report 2018-19 Corporate Overview 01-22 Statutory Reports 23-105 Financial Statements 107-250