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Integrated Report Statutory Reports Financial Statements
1-59 60-146 Consolidated

in preparation of Consolidated Financial Statements and, From the matters communicated with those charged with
based on the audit evidence obtained, whether a material governance, we determine those matters that were of most
uncertainty exists related to events or conditions that significance in the audit of the Consolidated Financial Statements
may cast significant doubt on the appropriateness of this of the current period and are therefore the key audit matters.
assumption. If we conclude that a material uncertainty exists, We describe these matters in our auditors’ report unless law or
we are required to draw attention in our auditor’s report to the regulation precludes public disclosure about the matter or when,
related disclosures in the Consolidated Financial Statements in extremely rare circumstances, we determine that a matter
or, if such disclosures are inadequate, to modify our opinion. should not be communicated in our report because the adverse
Our conclusions are based on the audit evidence obtained consequences of doing so would reasonably be expected to
up to the date of our auditor’s report. However, future events outweigh the public interest benefits of such communication.
or conditions may cause the Group and its joint ventures to Other Matters
cease to continue as a going concern.
(a) We did not audit the Financial Statements/financial
Ÿ Evaluate the overall presentation, structure and content information of 28 subsidiaries, whose Financial Statements/
of the Consolidated Financial Statements, including the financial information reflect total assets of ` 14,884.41 crores
disclosures, and whether the Consolidated Financial as at March 31, 2021, total revenues of ` 4,622.66 crores
Statements represent the underlying transactions and events and net cash flows amounting to ` 486.43 crores for the
in a manner that achieves fair presentation.
year ended on that date, as considered in the Consolidated
Ÿ Obtain sufficient appropriate audit evidence regarding the Financial Statements. The Consolidated Financial Statements
financial information of such entities or business activities also include the Group’s share of net profit (and other
within the Group and its joint ventures to express an comprehensive income) of ` 83.50 crores for the year ended
opinion on the Consolidated Financial Statements. We are March 31, 2021, in respect of 2 joint ventures, whose Financial
responsible for the direction, supervision and performance Statements/financial information have not been audited by
of the audit of financial information of such entities included us. These Financial Statements/financial information have
in the Consolidated Financial Statements of which we are the been audited by other auditors whose reports have been
independent auditors. For the other entities included in the furnished to us by the Management and our opinion on the
Consolidated Financial Statements, which have been audited Consolidated Financial Statements, in so far as it relates to
by other auditors, such other auditors remain responsible for the amounts and disclosures included in respect of these
the direction, supervision and performance of the audits subsidiaries and joint ventures, and our report in terms of
carried out by them. We remain solely responsible for our sub-section (3)of Section 143 of the Act, in so far as it relates

audit opinion. Our responsibilities in this regard are further to the aforesaid subsidiaries and joint ventures is based solely
described in para (a) of the section titled ‘Other Matters’ in on the audit reports of the other auditors.
this audit report.
Certain of these subsidiaries and joint ventures are located
We believe that the audit evidence obtained by us along with outside India whose Financial Statements and other financial
the consideration of audit reports of the other auditors referred information have been prepared in accordance with
to in sub-paragraph (a) of the Other Matters paragraph below, is accounting principles generally accepted in their respective
sufficient and appropriate to provide a basis for our audit opinion countries and which have been audited by other auditors
on the Consolidated Financial Statements. under generally accepted auditing standards applicable
We communicate with those charged with governance of in their respective countries. The Company’s management
the Holding Company and such other entities included in has converted the Financial Statements of such subsidiaries
the Consolidated Financial Statements of which we are the and joint ventures located outside India from accounting
independent auditors regarding, among other matters, the principles generally accepted in their respective countries
planned scope and timing of the audit and significant audit to accounting principles generally accepted in India. We
findings, including any significant deficiencies in internal control have audited these conversion adjustments made by the
that we identify during our audit. Company’s management. Our opinion in so far as it relates
to the balances and affairs of such subsidiaries and joint
We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements ventures located outside India is based on the reports of
regarding independence, and to communicate with them all other auditors and the conversion adjustments prepared by
relationships and other matters that may reasonably be thought the management of the Company and audited by us.
to bear on our independence, and where applicable, related (b) The Consolidated Financial Statements also include the
safeguards. Group’s share of net loss (and other comprehensive income)

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