• Evaluate the overall presentation, structure and content of the Consolidated Financial Statements, including the disclosures, and whether the Consolidated Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation. • Obtain sufficient appropriate audit evidence regarding the financial information of the business activities within the Group and its associate and its joint venture and its joint operation to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the audit of the Financial Statements of such entities or business activities included in the Consolidated Financial Statements of which we are the independent auditors. For the other entities or business activities included in the Consolidated Financial Statements, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Materiality is the magnitude of misstatements in the Consolidated Financial Statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Consolidated Financial Statements. We communicate with those charged with governance of the Parent and such other entities included in the Consolidated Financial Statements of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal financial controls that we identify during 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. Other Matters We did not audit the Financial Statements | financial information of 37 subsidiary companies, whose Financial Statements | financial information reflect total assets of ₹ 1470.57 cr as at March 31, 2025, total revenues of ₹ 1,075.20 cr, total net profit | (loss) after tax of ₹ 7.94 cr, and net cash inflows | (outflows) amounting to ₹ (6.18) 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 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 the 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 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 report of other auditors and the conversion adjustments prepared by the management of the Company and audited by us. We did not audit the Financial Statements | financial information of 2 subsidiaries, whose Financial Statements | financial information reflect total assets of ₹ 24.77 cr as at March 31, 2025, total revenues of ₹ 4.02 cr, total net profit | (loss) after tax of ₹ 0.03 cr, and net cash inflows | (outflows) amounting to ₹ (0.32) cr for the year ended on that date, as considered in the Consolidated Financial Statements. The Consolidated Financial Statements also include the Group’s share of net profit | loss of ₹ (1.90) cr for the year ended March 31, 2025, as considered in the Consolidated Financial Statements, in respect of an associate which have not been audited by us. 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 and associate 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 Management, these Financial Statements | financial information are not material to the Group. 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 the other auditors and the Financial Statements | financial information certified by the Management. 228 228 Integrated Annual Report 2024-25
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