189 Statutory Reports 24 - 109 Financial Statements 110 - 263 Corporate Overview 01 - 23 From the matters communicated with those charged withgovernance, we determine thosematters thatwere of most significance in the audit of the 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 matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Other matters 14. We did not audit the Financial Statements | financial information of 34 subsidiary companies, whose Financial Statements | financial information reflect total assets of ` 702.31 cr as at March 31, 2022, total revenues of ` 785.72 cr, total net profit after tax of ` 48.53 cr, total other comprehensive income of ` 48.87 cr and net cash inflows amounting to ` 3.02 cr for the year ended on that date, as considered in the Consolidated Financial Statements. These Financial Statements | financial information 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 143 of the Act, in so far as it relates to the aforesaid subsidiary companies is based solely on the reports of other Auditors. Some of these subsidiary companies are located outside India whose Financial Statements and other financial information have been 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. The Management of the Company has converted the Financial Statements | financial and other information 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 conversion adjustments made by the Management 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 reports of other Auditors and the conversion adjustments prepared by the Management of the Company and audited by us. 15. We did not audit the Financial Statements | financial information of five subsidiary companies, whose financial information reflects total assets of ` 73.34 cr as at March 31, 2022, total revenue of ` 148 cr, total net profit after tax of ` 2.55 cr, total other comprehensive income of ` 2.54 cr and net cash inflows of ` 0.60 inflow amounting to ` 6.56 crore for the year ended on that date, as considered in the Consolidated Financial Statements. These Financial Statements | financial information are unaudited 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 based solely on such unaudited Financial Statements | financial information. In our opinion and according to the information and explanations given to us by the Board of Directors, these Financial Statements | financial information are not material to the Group. 16. Our opinion on the Consolidated Financial Statements above and our report on other legal and regulatory requirements below, is not modified in respect of the above matters with respect to our reliance on the work done and the reports of other Auditors and the Financial Statements | financial information certified by the Management. Report on other legal and regulatory requirements 17. As required by Section 143(3) of the Act, based on our audit and on the consideration of the reports of other Auditors on separate Financial Statements | financial information of the subsidiary companies, referred in the other matters section, we report to the extent applicable that: a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit of the aforesaidConsolidated 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 kept so far as it appears from our examination of those books and the reports of the other Auditors. c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss (including other comprehensive income), the Consolidated Statement of Cash Flows and the 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 specified under Section 133 of the Act. e) On the basis of the written representations received from the Directors of the Parent as on March 31, 2022, taken on record by the Board of Directors of the Parent and the reports of the Statutory Auditors of its subsidiary companies and a joint venture company incorporated in India, none of the Directors of the Group companies and a joint venture company incorporated in India is disqualified as on March 31, 2022, from being appointed as a Director in terms of Section 164(2) of the Act.
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