Corporate Overview Statutory Reports Financial Statements 187 companies and associate company is based solely on the reports of such other Auditors. Some of these subsidiary companies are located outside India whose Financial Statements and other financial informationhavebeenprepared inaccordance 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. 15. We did not audit the Financial Statements | financial information of 4 subsidiary companies, whose financial information reflects total assets of ` 26.08 cr as at March 31, 2024, total revenue of ` 4.14 cr, total net profit | (loss) after tax of ` (1.13) cr, total other comprehensive income | (loss) of ` (1.13) cr and net cash outflows amounting to ` 0.97 cr 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 Management, 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 and associate company incorporated in India, referred in the other matters section above 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 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 kept so far as it appears from our examination of those books and the reports of the other Auditors, except for matters stated in paragraph (i)(vi) below. 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, 2024, taken on record by the Board of Directors of the Parent and the reports of the Statutory Auditors of its subsidiary companies, associate company and a joint venture company incorporated in India, none of the Directors of the Group companies, its associate company and a joint venture company incorporated in India is disqualified as on March 31, 2024, from being appointed as a Director in terms of Section 164(2) of the Act. f) The modification relating to the maintenance of accounts and other matters connected therewith, is as stated in paragraph (b) above. g) With respect to the adequacy of the internal financial controls with reference to Consolidated Financial Statements and the operating effectiveness of such controls, refer to our separate report in Annexure A, which is based
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