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Annexure A to the Independent Auditors’ Report – 31 March, 2018

With reference to the Annexure A referred to in the Independent designed to cover all the items over a period of three
Auditors’ Report to the members of the Company on the standalone years. In our opinion, this periodicity of physical
Ind AS financial statements for the year ended 31 March, 2018, we verification is reasonable having regard to the size of
report the following: the Company and the nature of its assets. In accordance
with the policy, the Company has physically verified
(i) (a) The Company has maintained proper records showing
certain property, plant and equipment and investment
full particulars, including quantitative details and
properties during the year and we are informed that no
situation of property, plant and equipment and
discrepancies were noticed on such verification.
investment properties.
(c) According to the information and explanations given to
(b) The Company has a programme of physical verification
us and on the basis of our examination of the records of
of its property, plant and equipment and investment
the Company, the title deeds of immovable properties Integrated Report
properties by which the property, plant and
of land and buildings as disclosed in Note 4 and Note 5
equipment and investment properties are verified by
to the standalone Ind AS financial statements, are held
the management according to a phased programme
in the name of the Company except for the following:
Land / No. of cases Leasehold / Gross block Net block Remarks
Building Freehold (` in crore) (` in crore)
Residential flats 3 Freehold 3.12 2.54 The said flats are in the process of getting registered in
the name of the Company.
(ii) The inventory, except for goods-in-transit and stocks lying with and inorganic chemicals, and are of the opinion that prima
third parties, has been physically verified by the management facie, the prescribed accounts and records have been made
during the year. In our opinion, the frequency of such and maintained. However, we have not made a detailed
verification is reasonable. In respect of stocks lying with third examination of the cost records with a view to determine
parties at the year-end, written confirmations have been whether they are accurate or complete.
obtained. The discrepancies noticed on verification between Statutory Reports
(vii) (a) According to the information and explanations given to
the physical stocks and the book records were not material and
us and on the basis of our examination of the records
have been dealt with in the books of account.
of the Company, amounts deducted/accrued in the
(iii) According to the information and explanations given to us, the books of account in respect of undisputed statutory
Company has not granted any loans, secured or unsecured, to dues including Provident fund, Profession tax, Income-
companies, firms, limited liability partnerships or other parties tax, Duty of customs, Duty of excise, Employees’ State
covered in the register maintained under Section 189 of the Insurance, Sales-tax, Service tax, Goods and Service tax,
Companies Act, 2013 (‘the Act’). Accordingly, paragraphs 3 (iii) Value added tax, Cess and other material statutory dues
(a), (b) and (c) of the Order are not applicable to the Company. have been regularly deposited during the year with the
appropriate authorities.
(iv) In our opinion and according to the information and
explanations given to us, the Company has complied with the According to the information and explanations given
provisions of Section 185 and 186 of the Companies Act, 2013 to us, no undisputed amounts payable in respect
in respect of grant of loans, making investments and providing of Provident fund, Profession tax, Employees’ State
guarantees and securities, as applicable. Insurance, Income-tax, Sales-tax, Service tax, Duty of Financial Statements
customs, Duty of excise, Goods and Service tax, Value
(v) In our opinion, and according to the information and
added tax, Cess and other material statutory dues were
explanations given to us, the Company has not accepted
in arrears as at 31 March, 2018 for a period of more than
deposits as per the directives issued by the Reserve Bank
six months from the date they became payable.
of India and the provisions of Sections 73 to 76 or any other
relevant provisions of the Act and the rules framed thereunder. (b) According to the information and explanations given to
Accordingly, paragraph 3 (v) of the Order is not applicable to us, there are no dues of Income-tax, Sales tax, Service tax,
the Company. Duty of customs, Duty of excise, Goods and Service tax
and Value added tax as at 31 March, 2018, which have
(vi) We have broadly reviewed the books of account maintained
not been deposited with the appropriate authorities on
by the Company pursuant to the rules prescribed by the
account of any dispute, except as stated below:
Central Government for the maintenance of cost records
under Section 148(1) of the Act for fertilisers, cement, organic

Standalone Financial Statements 137