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Financial
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Independent Auditor’s Report
To the Members of
KAJARIA CERAMICS LIMITED
New Delhi
Report on the Standalone Financial Statements
We have audited the accompanying Standalone Ind AS
financial statements of KAJARIA CERAMICS LIMITED (“the
Company”), which comprise the Balance Sheet as at 31 March
2017, and the Statement of Profit and Loss (including Other
Comprehensive Income), the Cash Flow Statement and the
Statement of Changes in Equity for the year then ended, and
a summary of the significant accounting policies and other
explanatory information.
Management’s Responsibility for the Standalone Ind AS
Financial Statements
The Company’s Board of Directors is responsible for the matters
stated in Section 134(5) of the Companies Act, 2013 (“the
Act”) with respect to the preparation of these Standalone
Ind AS financial statements that give a true and fair view of
the state of affairs (financial position), profit or loss (financial
performance including other comprehensive income), cash
flows and changes in equity of the Company in accordance
with the accounting principles generally accepted in India,
including the Indian Accounting Standards (Ind AS) prescribed
under Section 133 of the Act read with the Companies
(Indian Accounting Standards) Rules, 2015 as amended.
This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the Act
for safeguarding the assets of the Company and for preventing
and detecting frauds and other irregularities; selection and
application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate internal
financial controls, that were operating effectively for ensuring
the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the Standalone
Ind AS financial statements, that give a true and fair view and
are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these Standalone
Ind AS financial statements based on our audit. We have
taken into account the provisions of the Act, the accounting
and auditing standards and matters which are required to be
included in the audit report under the provisions of the Act
and the Rules made there under. We conducted our audit of
the Standalone Ind AS financial statements in accordance with
the Standards on Auditing specified under Section 143(10)
of the Act. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the Standalone Ind AS
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit
evidence about the amounts and the disclosures in the
Standalone Ind AS financial statements. The procedures
selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the
Standalone Ind AS financial statements, whether due to
fraud or error. In making those risk assessments, the auditor
considers internal financial controls relevant to the Company’s
preparation of the Standalone Ind AS financial statements that
give a true and fair view in order to design audit procedures
that are appropriate in the circumstances. An audit also includes
evaluating the appropriateness of the accounting policies used
and the reasonableness of the accounting estimates made
by the Company’s Directors, as well as evaluating the overall
presentation of the Ind AS financial statements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion on the
Standalone Ind AS financial statements.
Opinion
In our opinion and to the best of our information and according
to the explanations given to us, the aforesaid Standalone Ind
AS financial statements give the information required by the
Act in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted
in India including the Ind AS, of the state of affairs (financial
position) of the Company as at 31 March, 2017, and its profit
(financial performance including other comprehensive income),
its cash flows and the changes in equity for the year ended on
that date.
Other Matters
The comparative financial information of the Company for the