Atul Ltd 2018-19

Consolidated Financial Statements of which we are the Independent Auditors regarding, among other matters, the planned scope and timing of the audit îŠē ƙĿijŠĿǛČîŠƥ îƭēĿƥ ǛŠēĿŠijƙȡ ĿŠČŕƭēĿŠij îŠǋ ƙĿijŠĿǛČîŠƥ ēĚǛČĿĚŠČĿĚƙ ĿŠ ĿŠƥĚƑŠîŕ ČūŠƥƑūŕ ƥĺîƥ ǅĚ ĿēĚŠƥĿljǋ ēƭƑĿŠij our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and where applicable, related safeguards. From the matters communicated with those charged with governance, we determine those matters ƥĺîƥ ǅĚƑĚ ūlj Şūƙƥ ƙĿijŠĿǛČîŠČĚ ĿŠ ƥĺĚ îƭēĿƥ ūlj ƥĺĚ Consolidated Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our Auditor’s Report unless law or regulation precludes public disclosure about the ŞîƥƥĚƑ ūƑ ǅĺĚŠȡ ĿŠ ĚǊƥƑĚŞĚŕǋ ƑîƑĚ ČĿƑČƭŞƙƥîŠČĚƙȡ ǅĚ determine that a matter should not be communicated in our report because the adverse consequences of ēūĿŠij ƙū ǅūƭŕē ƑĚîƙūŠîċŕǋ ċĚ ĚǊƎĚČƥĚē ƥū ūƭƥǅĚĿijĺ ƥĺĚ ƎƭċŕĿČ ĿŠƥĚƑĚƙƥ ċĚŠĚǛƥƙ ūlj ƙƭČĺ ČūŞŞƭŠĿČîƥĿūŠȦ Other matters ǧǧȦ ØĚ ēĿē Šūƥ îƭēĿƥ ƥĺĚ GĿŠîŠČĿîŕ ¬ƥîƥĚŞĚŠƥƙ ʈ ǛŠîŠČĿîŕ information of 27 subsidiary companies, whose GĿŠîŠČĿîŕ ¬ƥîƥĚŞĚŠƥƙ ʈ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ ƑĚǜĚČƥ total assets of ` 201.36 cr as at March 31, 2019, total revenues of ` ǭǩǬȦǭǭ ČƑ îŠē ŠĚƥ Čîƙĺ ūƭƥǜūǅƙ amounting to ` 0.86 cr for the year ended on that date, as considered in theConsolidatedFinancial Statements. ¹ĺĚƙĚ GĿŠîŠČĿîŕ ¬ƥîƥĚŞĚŠƥƙ ʈ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ have been audited by other Auditors whose reports have been furnished to us by the Management and our opinion on the Consolidated Financial Statements, in so far as it relates to the amounts and disclosures included in respect of these subsidiary companies and our report in terms of Sub-section (3) of Section ǧǪǩ ūlj ƥĺĚ Čƥȡ ĿŠ ƙū ljîƑ îƙ Ŀƥ ƑĚŕîƥĚƙ ƥū ƥĺĚ îljūƑĚƙîĿē subsidiary companies is based solely on the reports of such other Auditors. Certain of these subsidiary companies are located outside India whose Financial ¬ƥîƥĚŞĚŠƥƙ îŠē ūƥĺĚƑ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ ĺîǄĚ ċĚĚŠ prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other Auditors under generally accepted auditing standards applicable in their respective countries. Management of the Company has converted the Financial Statements of such subsidiary companies located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these ČūŠǄĚƑƙĿūŠ îēŏƭƙƥŞĚŠƥƙ ŞîēĚ ċǋ ƥĺĚ qîŠîijĚŞĚŠƥ of the Company. Our opinion in so far as it relates to the balances and affairs of such subsidiary companies located outside India is based on the report of other ƭēĿƥūƑƙ îŠē ƥĺĚ ČūŠǄĚƑƙĿūŠ îēŏƭƙƥŞĚŠƥƙ ƎƑĚƎîƑĚē ċǋ the Management of the Company and audited by us. ǧǨȦ ØĚ ēĿē Šūƥ îƭēĿƥ ƥĺĚ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ ūlj ljūƭƑ ƙƭċƙĿēĿîƑǋ ČūŞƎîŠĿĚƙȡ ǅĺūƙĚ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ ƑĚǜĚČƥƙ ƥūƥîŕ îƙƙĚƥƙ ūlj ` 2.31 cr as at March 31, 2019, total revenue of ` ǨȦǫǨ ČƑ îŠē ŠĚƥ Čîƙĺ ĿŠǜūǅƙ amounting to ` 0.83 cr for the year ended on that date, as considered in the Consolidated Financial ¬ƥîƥĚŞĚŠƥƙȦ ¹ĺĚƙĚ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ îƑĚ ƭŠîƭēĿƥĚē and have been furnished to us by the Management and our opinion on the Consolidated Financial Statements, in so far as it relates to the amounts and disclosures included in respect of these subsidiary companies, is ċîƙĚē ƙūŕĚŕǋ ūŠ ƙƭČĺ ƭŠîƭēĿƥĚē ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠȦ In our opinion and according to the information and ĚǊƎŕîŠîƥĿūŠƙ ijĿǄĚŠ ƥū ƭƙ ċǋ ƥĺĚ qîŠîijĚŞĚŠƥȡ ƥĺĿƙ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ Ŀƙ Šūƥ ŞîƥĚƑĿîŕ ƥū ƥĺĚ HƑūƭƎȦ 13. Our opinion on the Consolidated Financial Statements above and our report on other legal and regulatory ƑĚƐƭĿƑĚŞĚŠƥƙ ċĚŕūǅȡ Ŀƙ Šūƥ ŞūēĿǛĚē ĿŠ ƑĚƙƎĚČƥ ūlj ƥĺĚ above matters with respect to our reliance on the work done and the reports of other Auditors and the GĿŠîŠČĿîŕ ¬ƥîƥĚŞĚŠƥƙ ʈ ǛŠîŠČĿîŕ ĿŠljūƑŞîƥĿūŠ ČĚƑƥĿǛĚē by the Management. Report on other legal and regulatory requirements ǧǪȦ ƙ ƑĚƐƭĿƑĚē ċǋ ¬ĚČƥĿūŠ ǧǪǩȳǩȴ ūlj ƥĺĚ Čƥȡ ċîƙĚē ūŠ our audit and on the consideration of the reports of other Auditors on separate Financial Statements of subsidiary companies incorporated in India, referred in the Other matters paragraph above, we report, to the ĚǊƥĚŠƥ îƎƎŕĿČîċŕĚȡ ƥĺîƥȠ 178 Atul Ltd | Annual Report 2018-19 Corporate Overview 01-22 Statutory Reports 23-105 Financial Statements 107-250