Atul Ltd 2018-19

a) We have sought and obtained all the information îŠē ĚǊƎŕîŠîƥĿūŠƙ ǅĺĿČĺ ƥū ƥĺĚ ċĚƙƥ ūlj ūƭƑ knowledge and belief were necessary for the purposes of our audit of the aforesaid Consolidated Financial Statements. b) In our opinion, proper books of account as required by law relating to preparation of the aforesaid Consolidated Financial Statements have been ŒĚƎƥ ƙū ljîƑ îƙ Ŀƥ îƎƎĚîƑƙ ljƑūŞ ūƭƑ ĚǊîŞĿŠîƥĿūŠ ūlj those books and the reports of the other Auditors. c) TheConsolidatedBalanceSheet, theConsolidated ¬ƥîƥĚŞĚŠƥ ūlj ¡ƑūǛƥ îŠē gūƙƙ ȳĿŠČŕƭēĿŠij ūƥĺĚƑ comprehensive income), Consolidated Statement of Cash Flows and Consolidated Statement of changes in equity dealt with by this report are in agreement with the relevant books of account maintained for the purpose of preparation of the Consolidated Financial Statements. d) In our opinion, the aforesaid Consolidated Financial Statements comply with the Ind AS ƙƎĚČĿǛĚē ƭŠēĚƑ ¬ĚČƥĿūŠ ǧǩǩ ūlj ƥĺĚ ČƥȦ e) On the basis of the written representations received from the Directors of the Parent as on March 31, 2019 taken on record by the Board of Directors of the Parent and the reports of the Statutory Auditors of its subsidiary companies îŠē ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ĿŠČūƑƎūƑîƥĚē ĿŠ TŠēĿîȡ none of the Directors of the Group companies îŠē ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ĿŠČūƑƎūƑîƥĚē ĿŠ TŠēĿî Ŀƙ ēĿƙƐƭîŕĿǛĚē îƙ ūŠ qîƑČĺ ǩǧȡ ǨǦǧǯ ljƑūŞ ċĚĿŠij îƎƎūĿŠƥĚē îƙ î 'ĿƑĚČƥūƑ ĿŠ ƥĚƑŞƙ ūlj ¬ĚČƥĿūŠ ǧǬǪȳǨȴ of the Act. f) With respect to the adequacy of the internal ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ūǄĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij îŠē the operating effectiveness of such controls, ƑĚljĚƑ ƥū ūƭƑ ƙĚƎîƑîƥĚ ¤ĚƎūƑƥ ĿŠ ŠŠĚǊƭƑĚ ȡ which is based on the Auditor’s reports of the Parent company, subsidiary companies and a ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ĿŠČūƑƎūƑîƥĚē ĿŠ TŠēĿîȦ ~ƭƑ ƑĚƎūƑƥ ĚǊƎƑĚƙƙĚƙ îŠ ƭŠŞūēĿǛĚē ūƎĿŠĿūŠ ūŠ ƥĺĚ adequacy and operating effectiveness internal ǛŠîŠČĿîŕ ČūŠƥƑūŕƙ ūǄĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ūlj ƥĺūƙĚ companies, for the reasons state therein. ¤ĚƎūƑƥĿŠij ūŠ ƥĺĚ îēĚƐƭîČǋ ūlj ĿŠƥĚƑŠîŕ ǛŠîŠČĿî l ČūŠƥƑūŕƙ ūǄĚƑ ǛŠîŠČĿîŕ ƑĚƎūƑƥĿŠij ūlj ƥĺĚ ūŞƎîŠǋ and the operating effectiveness of such controls ƭŠēĚƑ ¬ĚČƥĿūŠ ǧǪǩȳǩȴȳĿȴ ūlj ƥĺĚ Čƥ Ŀƙ Šūƥ îƎƎŕĿČîċŕĚ ƥū ƥĺĚ ŏūĿŠ ūƎĚƑîƥĿūŠ ūlj ƥĺĚ HƑūƭƎȡ ƙƭČĺ ŏūĿŠƥ operation being a Limited Liability Partnership. g) With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of Section 197(16) of the Act, as amended, in our opinion and to the best of our ĿŠljūƑŞîƥĿūŠ îŠē îČČūƑēĿŠij ƥū ƥĺĚ ĚǊƎŕîŠîƥĿūŠƙ given to us, the remuneration paid by the Parent to its Directors during the year is in accordance with the provisions of Section 197 of the Act. h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of ƥĺĚ ūŞƎîŠĿĚƙ ȳ ƭēĿƥ îŠē ƭēĿƥūƑɄƙȴ ¤ƭŕĚƙȡ ǨǦǧǪȡ as amended, in our opinion and to the best of our ĿŠljūƑŞîƥĿūŠ îŠē îČČūƑēĿŠij ƥū ƥĺĚ ĚǊƎŕîŠîƥĿūŠƙ given to us: i. The Consolidated Financial Statements disclose the impact of pending litigations ūŠ ƥĺĚ ČūŠƙūŕĿēîƥĚē ǛŠîŠČĿîŕ ƎūƙĿƥĿūŠ ūlj ƥĺĚ HƑūƭƎ îŠē Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋȦ ĿĿȦ ¹ĺĚ HƑūƭƎ îŠē Ŀƥƙ ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ēĿē not have any material foreseeable losses on long-term contracts including derivative contracts. iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Parent, its subsidiary companies and ŏūĿŠƥ ǄĚŠƥƭƑĚ ČūŞƎîŠǋ ĿŠČūƑƎūƑîƥĚē ĿŠ TŠēĿîȦ For Deloitte Haskins & Sells LLP Chartered Accountants Firm registration number: 117366W | W-100018 Mumbai, Samir R. Shah Partner April 26, 2019 Membership number: 101708 Consolidated | Independent Auditor’s Report 179