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AMINES & PLASTICIZERS LTD

INDEPENDENT AUDITORS' REPORT

TOTHEMEMBERSOFAMINES&PLASTICIZERSLIMITED

ReportontheStandaloneFinancialStatements
Opinion
1. We have audited the accompanying standalone financial statements of Amines & Plasticizers Limited (“the
Company”), which comprise the Balance Sheet as at March 31, 2019, the Statement of Profit and Loss (including
other comprehensive income),the Statement of Cash Flows for the year then ended,and including a summary of
the significant accounting policies and other explanatory information (hereinafter referred to as ‘Standalone
FinancialStatements’).
2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
standalonefinancialstatementsgivetheinformationrequiredbytheCompaniesAct,2013(the‘Act’)inthemanner
so required and give a true and fair view in conformity with the accounting principles generally accepted in India
including Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Act, of the state of affairs
(financial position) of the Company as at 31 March 2019, and its profit (financial performance including other
comprehensiveincome),itscashflowsandthechangesinequityfortheyearendedonthatdate.
BasisforOpinion

3. WeconductedourauditinaccordancewiththeStandardsonAuditing(SAs)specifiedundersection143(10)ofthe
Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s
Responsibilities for the Audit of the Standalone Financial Statements section of our report.We are independent of
theCompanyinaccordancewiththeCodeofEthicsissuedbytheInstituteofCharteredAccountantsofIndia(‘ICAI’)
together with the ethical requirements that are relevant to our audit of the standalone financial statements under
the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code of Ethics.We believe that the audit evidence
wehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.
KeyAuditMatters

4. Key audit matters are those matters that,in our professional judgment,were of most significance in our audit of the
standalone financial statements of the current period.These matters were addressed in the context of our audit of
the financial statements as a whole,and in forming our opinion thereon,and we do not provide a separate opinion
onthesematters.

5. We have determined the matter described below to be the key audit matters determined to be communicated in
ourreportonstandalonefinancialstatements.

Key Audit Matters How our audit addressed the key audit matter
Recoverability of Amounts from a Subsidiary Company for loans and interest thereon provided to APL Infotech
Limited (as described in note 5 and 12 of the Ind AS financial statements)
As at 31 March 2019, loans including Interest aggregating Ourauditproceduresincludedthefollowing:
toRs.675.03lakhs. • Obtained an understanding of management’s process
and evaluated design and tested operating
As the Subsidiary has no operations and based on the
effectiveness of controls around identification of
management perception to upgrade the software and are
indicators of impairment under Ind AS, and around
working out commercial propositions to generate
evaluation of the business of the subsidiary to
revenuesfromthesamemovingforward. determinerecoverableabilityofthesaidamounts
Based on an internal assessment and feedback from users
of the software, the management expects to generate • Assessed the appropriateness of methodology and
Cashflowwhichwillbeusedtopayoffthedues evaluationmodelusedbythemanagementtoestimate
therecoverablevalueofsoftwarebythesubsidiary.

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INDEPENDENT AUDITORS' REPORT