Page 176 - Kolte Patil AR 2019-20

INDEPENDENT

AUDITOR’S REPORT

To
The Members of Kolte-Patil Developers Limited

Report on the Audit of the Consolidated Financial Statements

OPINION the Consolidated Financial Statements section of our report. We are
We have audited the accompanying consolidated financial independent of the Group and its joint venture in accordance with
statements of Kolte-Patil Developers Limited (”the Parent”) and its the Code of Ethics issued by the Institute of Chartered Accountants
subsidiaries, (the Parent and its subsidiaries together referred to as of India (ICAI) together with the ethical requirements that are
“the Group”) which includes Group’s share of loss in its joint venture, relevant to our audit of the consolidated financial statements under
which comprise the Consolidated Balance Sheet as at 31 March the provisions of the Act and the Rules made thereunder, and we
2020, and the Consolidated Statement of Profit and Loss (including have fulfilled our other ethical responsibilities in accordance with
Other Comprehensive income), the Consolidated Cash Flow these requirements and the ICAI’s Code of Ethics. We believe that
Statement and the Consolidated Statement of Changes in Equity the audit evidence obtained by us and the audit evidence obtained
for the year then ended, and a summary of significant accounting by the other auditors in terms of their reports referred to in the
policies and other explanatory information. sub-paragraphs (a) and (b) of the Other Matter section below, is
sufficient and appropriate to provide a basis for our audit opinion
In our opinion and to the best of our information and according on the consolidated financial statements.
to the explanations given to us, and based on the consideration
of reports of the other auditors on separate financial statements EMPHASIS OF MATTER
of subsidiaries referred to in the Other Matters section below, the
aforesaid consolidated financial statements give the information We draw attention to Note 2 (G) of the consolidated financial
required by the Companies Act, 2013 (“the Act”) in the manner so statements, which describes that the potential impact of COVID-19
required and give a true and fair view in conformity with the Indian pandemic on the operations and consolidated financial statements
Accounting Standards prescribed under section 133 of the Act read of the Group is dependent on future developments, which are
with the Companies (Indian Accounting Standards) Rules, 2015, uncertain.
as amended (‘Ind AS’), and other accounting principles generally Our opinion is not modified in respect of this matter.
accepted in India, of the consolidated state of affairs of the Group as
at 31 March 2020, and their consolidated profit, their consolidated KEY AUDIT MATTERS
total comprehensive income, their consolidated cash flows and their Key audit matters are those matters that, in our professional
consolidated changes in equity for the year ended on that date. judgment, were of most significance in our audit of the consolidated
financial statements of the current period. These matters were
BASIS FOR OPINION addressed in the context of our audit of the consolidated financial
We conducted our audit of the consolidated financial statements in statements as a whole, and in forming our opinion thereon, and
accordance with the Standards on Auditing prescribed under section we do not provide a separate opinion on these matters. We have
143 (10) of the Act (SAs). Our responsibilities under those Standards determined the matters described below to be the key audit
are further described in the Auditors’ Responsibility for the Audit of matters to be communicated in our report.

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