Deloitte
Haskins & Sells LLP

count for the period ended June 30, 2020 and June 30, 2021, consequently we could
not observe physical verification of inventory as on June 30, 2020 and June 30, 2021.
However, the management had, for its internal purposes, physically verified
inventories as on March 31, 2021 at all the locations. No material discrepancies were
noted between the inventory as per books and actual inventory as on the date of
verification. Consequent to our inability to physically verify the inventory, as required
by SA 501” Audit Evidence - Specific Considerations for Selected Items”, we
have performed alternate procedures to audit the existence of inventory which inter
alia included the following on a test check basis; (a) Tested the design and
implementation of controls over inventory movement, (b) Verified the quantitative
reconciliation from June 30, 2020 till March 31, 2021, i.e.; the date of physical count
performed by the Management and reconciliations from March 31, 2021 till June 30
2021, including inspection of supporting documents related to purchases, sales and
purchase / sales return for the reconciliation period, (c) Examined evidence supporting
the subsequent sale of inventory existing as on June 30, 2020 and June 30, 2021,
based on product code for quantities held as inventory on June 30, 2020 and June
30, 2021 and the realization of sale proceeds were traced to the bank statements.

Basis the aforesaid procedures, we have obtained sufficient appropriate audit
evidence to issue our unmodified opinion on these Special Purpose Interim Ind AS
Financial Statements.

Our report on the Special purpose interim Ind AS financial statements is not modified
in respect of this matter.

As at and for the year ended March 31, 2020
Other Matter paragraph

On account of COVID-19 related lockdown restrictions, management was able to
perform year end physical verification of inventories, subsequent to the year end at
certain locations. We were not able to physically observe the verification of inventory
that was carried out by the Management. Consequently, we have performed alternative
procedures to audit the existence of inventory as per the guidance provided in SA 501
“Audit Evidence - Specific Considerations for Selected Items” and have obtained
sufficient audit evidence to issue our unmodified opinion on the statement.

Our report on the financial statements is not modified in respect of this matter.

6. Based on our examination and according to the information and explanations given to
us, we report that the Restated Financial Information:

a) have been prepared after incorporating adjustments for the changes in accounting
policies, material errors and regrouping/reclassifications retrospectively in the
three month period ended June 30, 2020 and the financial years ended
March 31, 2021, 2020 and 2019 to reflect the same accounting treatment as per
the accounting policies and grouping/classifications followed as at and for the three
month periods ended June 30, 2021;

b) do not require any adjustment for modification as there is no modification in the
underlying audit reports; and

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