Page 193 - Tata_Chemicals_yearly-reports-2017-18
P. 193

ventures, the aforesaid consolidated Ind AS financial statements give   3.   The consolidated Ind AS financial statements also include the
          the information required by the Act in the manner so required and   Group's share of net profit of ` 51.16 crore for the year ended
          give a true and fair view in conformity with the accounting principles   31 March 2018, as considered in the consolidated Ind AS
          generally accepted in India, of the consolidated state of affairs of   financial statements, in respect of 2 joint ventures, whose
          the Group and its joint ventures as at 31 March, 2018 and their   financial statements have not been audited by us.  These
          consolidated profit (including other comprehensive income), their   financial statements are unaudited and have been furnished to
          consolidated statement of changes in equity and consolidated cash   us by the Management and our opinion on the consolidated
          flows for the year ended on that date.                    Ind AS financial statements, in so far as it relates to the amounts
                                                                   and disclosures included in respect of these joint ventures, and
          Other matters                                            our report in terms of sub-section (3) of Section 143 of the Act
                                                                   in so far as it relates to the aforesaid joint ventures, is based
          1.   The comparative financial information of the Group and its
                                                                   solely on such unaudited financial statements. In our opinion
              joint ventures for the year ended 31 March, 2017 prepared in
                                                                   and according to the information and explanations given to
              accordance with Ind AS included in these consolidated Ind AS
                                                                   us by the Management, these financial statements are not
              financial statements were audited by the predecessor auditor                                           Integrated Report
                                                                   material to the Group.
              who expressed an unmodified opinion thereon as per their
              report dated 26 May, 2017.                      Our opinion above on the consolidated Ind AS financial statements,
                                                              and our report on Other Legal and Regulatory Requirements below,
          2.   We did not audit the financial statements of 34 subsidiaries,
                                                              is not modified in respect of the above matters with respect to our
              included in the consolidated Ind AS financial statements,
                                                              reliance on the work done and the reports of the other auditors and
              whose financial statements reflect total assets of ` 18,095.88
                                                              the financial statements certified by the management.
              crore as at 31 March, 2018, total revenues of ` 6,057.39 crore
              and net cash inflows amounting to ` 273.38 crore for the year   Report on other Legal and Regulatory Requirements
              ended 31 March, 2018, as considered in the consolidated Ind
              AS financial statements.   The consolidated Ind AS financial   1   As required by Section 143 (3) of the Act, based on our audit
              statements also include the Group’s share of net loss (and other   and on the consideration of reports of the other auditors
              comprehensive income) of  ` 1.93 crore for the year ended    on separate financial statements and the other financial
              31 March, 2018 in respect of 2 joint ventures, whose financial   information of subsidiaries and joint ventures, as noted in the
              statements have not been audited by us.  These financial   ‘Other matters’ paragraph, we report, to the extent applicable,   Statutory Reports
              statements and other financial information have been audited   that:
              by other auditors whose reports have been furnished to us by
              the management and our opinion on the consolidated Ind AS      (a)   we have sought and obtained all the information and
              financial statements, in so far as it relates to the amounts and   explanations, which to the best of our knowledge and
              disclosures included in respect of these subsidiaries and joint   belief, were necessary for the purposes of our audit of
              ventures and our report in terms of sub-section (3) of Section   the aforesaid consolidated Ind AS financial statements;
              143 of the Act, insofar as it relates to the aforesaid subsidiaries
                                                                   (b)   in our opinion, proper books of account as required by
              and joint ventures is based solely on the reports of the other
                                                                       law relating to preparation of the aforesaid consolidated
              auditors.
                                                                       Ind AS financial statements have been kept so far as it
              Certain of these subsidiaries and joint ventures are located   appears from our examination of those books and the
              outside India whose financial statements and other financial   reports of the other auditors;
              information have been prepared in accordance with
                                                                   (c)   the consolidated balance sheet, the consolidated
              accounting principles generally accepted in their respective
                                                                       statement of profit and loss (including other
              countries and which have been audited by other auditors                                               Financial Statements
                                                                       comprehensive income), the consolidated statement
              under generally accepted auditing standards applicable in
                                                                       of changes in equity and the consolidated statement
              their respective countries. The Company’s management has
                                                                       of cash flows dealt with by this report are in agreement
              converted the financial statements of such subsidiaries and
                                                                       with the relevant books of account maintained for the
              joint ventures located outside India from accounting principles
                                                                       purpose of preparation of the consolidated Ind AS
              generally accepted in their respective countries to accounting
                                                                       financial statements;
              principles generally accepted in India. We have audited these
              conversion adjustments made by the Company’s management.
                                                                   (d)   in our opinion, the aforesaid consolidated Ind AS
              Our opinion in so far as it relates to the balances and affairs of
                                                                       financial statements comply with the Indian Accounting
              such subsidiaries and joint ventures located outside India is
                                                                       Standards (Ind AS) specified under Section 133 of the
              based on the reports of the other auditors and the conversion
                                                                       Act;
              adjustments prepared by the management of the Company
              and audited by us.
                                                                              Consolidated Financial Statements 191
   188   189   190   191   192   193   194   195   196   197   198