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Independent Auditor's Report
To the Members of Atul Ltd
Report on the Consolidated Financial Statements
Opinion
01. We have audited the accompanying Consolidated
Financial Statements of Atul Ltd (the Parent) and its
subsidiary companies, (the Parent and its subsidiary
companies together referred to as the Group) which
ĿŠČŕƭēĚƙ ƥĺĚ ƙĺîƑĚ ūlj ƎƑūǛƥ ūlj ƥĺĚ HƑūƭƎ ĿŠ î ŏūĿŠƥ
venture company, which comprise the Consolidated
Balance Sheet as at March 31, 2019, the Consolidated
¬ƥîƥĚŞĚŠƥ ūlj ¡ƑūǛƥ îŠē gūƙƙ ȳĿŠČŕƭēĿŠij ūƥĺĚƑ
comprehensive income), the Consolidated Statement
of Cash Flows and the Consolidated Statement of
changes in equity, for the year then ended, a summary
ūlj ƙĿijŠĿǛČîŠƥ îČČūƭŠƥĿŠij ƎūŕĿČĿĚƙ îŠē ūƥĺĚƑ ĚNJƎŕîŠîƥūƑNj
ĿŠljūƑŞîƥĿūŠ îŠē DžĺĿČĺ ĿŠČŕƭēĚƙ î ŏūĿŠƥ ūƎĚƑîƥĿūŠ ūlj ƥĺĚ
Group accounted on proportionate basis.
02. In our opinion and to the best of our information
îŠē îČČūƑēĿŠij ƥū ƥĺĚ ĚNJƎŕîŠîƥĿūŠƙ ijĿDŽĚŠ ƥū ƭƙ îŠē
based on the consideration of reports of the other
Auditors on separate Financial Statements of the
subsidiary companies referred to in the Other matters
section below, the aforesaid Consolidated Financial
Statements give the information required by the
Companies Act, 2013 (the Act) in the manner so
required and give a true and fair view in conformity
with the Indian Accounting Standards prescribed under
Section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended
(Ind AS) and other accounting principles generally
accepted in India, of the consolidated state of affairs of
the Group as at March 31, 2019 and their consolidated
ƎƑūǛƥȡ ƥĺĚĿƑ ČūŠƙūŕĿēîƥĚē ƥūƥîŕ ČūŞƎƑĚĺĚŠƙĿDŽĚ ĿŠČūŞĚȡ
ƥĺĚĿƑ ČūŠƙūŕĿēîƥĚē Čîƙĺ ǜūDžƙ îŠē ƥĺĚĿƑ ČūŠƙūŕĿēîƥĚē
changes in equity for the year ended on that date.
Basis for opinion
03. We conducted our audit of the Consolidated Financial
Statements in accordance with the Standards on
ƭēĿƥĿŠij ƙƎĚČĿǛĚē ƭŠēĚƑ ¬ĚČƥĿūŠ ǧǪǩȳǧǦȴ ūlj ƥĺĚ Čƥ
(SAs). Our responsibilities under those Standards are
further described in the Auditor’s responsibility for
the audit of the Consolidated Financial Statements
section of our report. We are independent of the
Group in accordance with the Code of Ethics issued
by the Institute of Chartered Accountants of India
(ICAI) together with the ethical requirements that are
relevant to our audit of the Consolidated Financial
Statements under the provisions of the Act and the
¤ƭŕĚƙ ŞîēĚ ƥĺĚƑĚƭŠēĚƑ îŠē DžĚ ĺîDŽĚ ljƭŕǛŕŕĚē ūƭƑ
other ethical responsibilities in accordance with these
requirements and the ICAI’s Code of Ethics. We believe
that the audit evidence obtained by us and the audit
evidence obtained by the other Auditors in terms of
their reports referred to in the Other matters section
ċĚŕūDžȡ Ŀƙ ƙƭljǛČĿĚŠƥ îŠē îƎƎƑūƎƑĿîƥĚ ƥū ƎƑūDŽĿēĚ î ċîƙĿƙ
for our audit opinion on the Consolidated Financial
Statements.
Key audit matters
ǦǪȦ eĚNj îƭēĿƥ ŞîƥƥĚƑƙ îƑĚ ƥĺūƙĚ ŞîƥƥĚƑƙ ƥĺîƥȡ ĿŠ ūƭƑ
ƎƑūljĚƙƙĿūŠîŕ ŏƭēijĚŞĚŠƥȡ DžĚƑĚ ūlj Şūƙƥ ƙĿijŠĿǛČîŠČĚ ĿŠ
our audit of the Consolidated Financial Statements of
the current period. These matters were addressed in
ƥĺĚ ČūŠƥĚNJƥ ūlj ūƭƑ îƭēĿƥ ūlj ƥĺĚ ūŠƙūŕĿēîƥĚē GĿŠîŠČĿîŕ
Statements as a whole and in forming our opinion
thereon and we do not provide a separate opinion
on these matters. We have determined the matters
described below to be the key audit matters to be
communicated in our report.
ǧǭǪ
Atul Ltd | Annual Report 2018-19
Corporate Overview 01-22
Statutory Reports 23-105
Financial Statements 107-250