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AMINES & PLASTICIZERS LTD

opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material misstatement when it exists.Misstatements can arise from fraud
or error and are considered material if, individually or in the aggregate, they could reasonably be expected to
influencetheeconomicdecisionsofuserstakenonthebasisofthesestandalonefinancialstatements.
13. As part of an audit in accordance with SAs, we have exercised professional judgment and maintain professional
skepticismthroughouttheaudit.Wealso:
◆ Identify and assess the risks of material misstatement of the standalone financial statements,whether due to
fraud or error, design and perform audit procedures responsive to those risks, and have obtained audit
evidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterial
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.
◆ Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances.Under section 143(3)(i) of the Companies Act,2013,we are also responsible
for expressing our opinion on whether the Company has adequate internal financial controls system in place
andtheoperatingeffectivenessofsuchcontrols.
◆ Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesand
relateddisclosuresmadebymanagement.
◆ Concludeontheappropriatenessofmanagement’suseofthegoingconcernbasisofaccountingand,basedon
theauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycast
significant doubt on the Company’s ability to continue as a going concern.Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s report.However,future events or conditions may cause
theCompanytoceasetocontinueasagoingconcern.
◆ Evaluate the overall presentation,structure and content of the standalone financial statements,including the
disclosures, and whether the standalone financial statements represent the underlying transactions and
eventsinamannerthatachievesfairpresentation.
14. We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings,including any significant deficiencies in internal control that we
identifyduringouraudit.
15. We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that
mayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.
16. From the matters communicated with those charged with governance,we determine those matters that were of
most significance in the audit of the financial statements of the current period and are therefore the key audit
matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstances, we determine that a matter should not be
communicated in our report because the adverse consequences of doing so would reasonably be expected to
outweighthepublicinterestbenefitsofsuchcommunication.

ReportonOtherLegalandRegulatoryRequirements
17. AsrequiredbySection197(16)oftheAct,wereportthattheCompanyhaspaidremunerationtoitsdirectorsduring
the year in accordance with the provisions of and limits laid down under Section 197 read with Schedule V to the
Act.The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) which are required to
becommenteduponbyus.
18. Asrequiredby‘theCompanies(Auditor’sReport)Order,2016’,issuedbytheCentralGovernmentofIndiaintermsof
sub-section (11) of section 143 of the Act (hereinafter referred to as the “Order”), we give in the “Annexure A”,a
statementonthemattersspecifiedinparagraphs3and4oftheOrder,totheextentapplicable.

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INDEPENDENT AUDITORS' REPORT