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Integrated Annual Report 2020-21

Independent Auditors’ Report

To the Members of Tata Chemicals Limited income, consolidated changes in equity and consolidated cash
flows for the year then ended.
Report on the Audit of Consolidated Financial
Statements Basis for Opinion
Opinion We conducted our audit in accordance with the Standards on
We have audited the Consolidated Financial Statements of Auditing (SAs) specified under section 143(10) of the Act. Our
Tata Chemicals Limited (hereinafter referred to as the ‘Holding responsibilities under those SAs are further described in the
Company”) and its subsidiaries (Holding Company and its Auditor’s Responsibilities for the Audit of the Consolidated Financial
subsidiaries together referred to as “the Group”) and its joint Statements section of our report. We are independent of the Group
ventures, which comprise the Consolidated Balance Sheet as at and its joint ventures in accordance with the ethical requirements
March 31, 2021, and the consolidated statement of profit and loss that are relevant to our audit of the Consolidated Financial
(including other comprehensive income), consolidated statement Statements in terms of the Code of Ethics issued by the Institute
of changes in equity and consolidated statement of cash flows of Chartered Accountants of India and the relevant provisions of
for the year then ended, and notes to the Consolidated Financial the Act, and we have fulfilled our other ethical responsibilities in
Statements, including a summary of significant accounting policies accordance with these requirements. We believe that the audit
and other explanatory information (hereinafter referred to as “the evidence obtained by us along with the consideration of audit
Consolidated Financial Statements”). reports of the other auditors referred to in sub paragraph (a) of
the “Other Matters” paragraph below, is sufficient and appropriate
In our opinion and to the best of our information and according to provide a basis for our opinion on the Consolidated Financial
to the explanations given to us, and based on the consideration Statements.
of reports of other auditors on separate Financial Statements of
such subsidiaries and joint ventures as were audited by the other Key Audit Matters
auditors, the aforesaid Consolidated Financial Statements give the Key audit matters are those matters that, in our professional
information required by the Companies Act, 2013 (“Act”) in the judgment, were of most significance in our audit of the Consolidated
manner so required and give a true and fair view in conformity Financial Statements of the current period. These matters were
with the accounting principles generally accepted in India, of the addressed in the context of our audit of the Consolidated Financial
consolidated state of affairs of the Group and its joint ventures as at Statements as a whole, and in forming our opinion thereon, and we
March 31, 2021, of its consolidated profit and other comprehensive do not provide a separate opinion on these matters.

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