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these consolidated financial statements that give a true and fair those risks, and obtain audit evidence that is sufficient and
view of the consolidated financial position, consolidated financial appropriate to provide a basis for our opinion. The risk of not
performance including other comprehensive income, consolidated detecting a material misstatement resulting from fraud is
cash flows and consolidated changes in equity of the Group and in higher than for one resulting from error, as fraud may involve
joint venture in accordance with the Ind AS and other accounting collusion, forgery, intentional omissions, misrepresentations, or
principles generally accepted in India. The respective Board of the override of internal control.
Directors of the companies included in the Group and of joint • Obtain an understanding of internal financial control relevant
venture are responsible for maintenance of adequate accounting to the audit in order to design audit procedures that are
records in accordance with the provisions of the Act for safeguarding appropriate in the circumstances. Under section 143(3)(i) of
the assets of the Group and joint venture and for preventing and the Act, we are also responsible for expressing our opinion on
detecting frauds and other irregularities; selection and application of whether the Parent has adequate internal financial controls
appropriate accounting policies; making judgments and estimates system in place and the operating effectiveness of such
that are reasonable and prudent; and design, implementation and controls.
maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of • Evaluate the appropriateness of accounting policies used
the accounting records, relevant to the preparation and presentation and the reasonableness of accounting estimates and related
of the financial statements that give a true and fair view and are free disclosures made by the management.
from material misstatement, whether due to fraud or error, which • Conclude on the appropriateness of management’s use of the
have been used for the purpose of preparation of the consolidated going concern basis of accounting and, based on the audit
financial statements by the Directors of the Parent, as aforesaid.
evidence obtained, whether a material uncertainty exists
In preparing the consolidated financial statements, the respective related to events or conditions that may cast significant doubt
Board of Directors of the companies included in the Group and of on the ability of the Group and of its joint venture to continue
its joint venture are responsible for assessing the ability of the Group as a going concern. If we conclude that a material uncertainty
to continue as a going concern, disclosing, as applicable, matters exists, we are required to draw attention in our auditor’s
related to going concern and using the going concern basis of report to the related disclosures in the consolidated financial
accounting unless the management either intends to liquidate or statements or, if such disclosures are inadequate, to modify
to cease operations, or has no realistic alternative but to do so. our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report. However, future
The respective Board of Directors of the companies included in the events or conditions may cause the Group to cease to continue
Group and of its joint venture are also responsible for overseeing the as a going concern.
financial reporting process of the Group.
• Evaluate the overall presentation, structure and content of the
AUDITOR’S RESPONSIBILITY FOR THE AUDIT OF consolidated financial statements, including the disclosures,
THE CONSOLIDATED FINANCIAL STATEMENTS and whether the consolidated financial statements represent
Our objectives are to obtain reasonable assurance about whether the underlying transactions and events in a manner that
the consolidated financial statements as a whole are free from achieves fair presentation.
material misstatement, whether due to fraud or error and to issue • Obtain sufficient appropriate audit evidence regarding the
an auditor’s report that includes our opinion. Reasonable assurance financial information of the, entities or business activities within
is a high level of assurance but is not a guarantee that an audit the Group and of its joint venture to express an opinion on
conducted in accordance with SAs will always detect a material the consolidated financial statements. We are responsible for
misstatement when it exists. Misstatements can arise from fraud or the direction, supervision and performance of the audit of the
error and are considered material if, individually or in the aggregate, financial statements of such entities included in the consolidated
they could reasonably be expected to influence the economic financial statements of which we are the independent auditors.
decisions of users taken on the basis of these consolidated financial For the other entities included in the consolidated financial
statements. statements, which have been audited by other auditors, such
As part of an audit in accordance with SAs, we exercise professional other auditors remain responsible for the direction, supervision
judgment and maintain professional skepticism throughout the and performance of the audits carried out by them. We remain
audit. We also: solely responsible for our audit opinion.
• Identify and assess the risks of material misstatement of the Materiality is the magnitude of misstatements in the consolidated
consolidated financial statements, whether due to fraud or financial statements that, individually or in aggregate, makes
error, design and perform audit procedures responsive to it probable that the economic decisions of a reasonably

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