BSR&Co.LLP

AGS Transact Technologies Limited
06 January 2022
Page 3 of 6

6)

7)

The audit report on the Revised Special Purpose Interim Consolidated Financial Statements of
the Group and of an associate as at and for the five months period ended 31 August 2021 issued
by us, as referred in Paragraph 5 above, contained the following Emphasis of Matter paragraph
(also refer Note 51 of Annexure VI to the Revised Restated Consolidated Financial
Information):

The Board of Directors had approved the special purpose interim consolidated financial
statements of the Group and of an associate for the five-months period ended 31 August 2021 in
their meeting held on 22 November 2021 on which we had issued our Auditors’ Report dated
22 November 2021 (referred to as the “Original special purpose interim consolidated financial
statements”). The Company has revised the aforesaid original special purpose interim
consolidated financial statements with updated Note 52, being management’s reassessment of
impact of COVID 19. Our Auditors’ Report dated 22 November 2021 on the original special
purpose interim consolidated financial statements of the Group and of an associate for the five-
months period ended 31 August 2021 is superseded by this Auditors’ Report on the revised
special purpose interim consolidated financial statements dated 06 January 2022.

Our opinion is not modified in respect of this matter.

(a) As indicated in our audit reports referred to in paragraph 5 above, we did not audit the
financial statements of a subsidiary for the five months period ended 31 August 2021 and
five subsidiaries for years ended 31 March 2021, 31 March 2020 and 31 March 2019 as
listed in Annexure A(ii), whose share of total assets (before consolidation adjustments), total
revenues (including other income) (before consolidation adjustments), net cash inflows /
(outflows) included in the consolidated financial statements, for the relevant period/years is
tabulated below:

(Rs. in million)
Particulars As at and for the five As at / for the year ended
months period ended | 31 March 2021} 31 March 2020 | 31 March 2019
31 August 2021

 

 

 

In respect of subsidiaries:

 

 

 

Total assets 800.19 1,090.69 1,192.76 1,021.98
Total revenues (including other | 262.21 7715.81 826.59 708.65
income)

Net cash inflows/ (outflows) _ | 0.68 23.06 18.57 0.11)

 

 

 

 

 

 

 

The financial statements of the one subsidiary for the five months period ended 31 August
2021 and five subsidiaries for the years ended 31 March 2021, 31 March 2020 and 31 March
2019 have been audited by other auditors as mentioned in Annexure A(ii) and whose reports
have been furnished to us by the Company’s management and our audit opinions for the
relevant years on the consolidated financial statements, in so far as it relates to the amounts
and disclosures included in respect of these subsidiaries for the relevant years/ period, are
based solely on the reports of the other auditors. These subsidiaries are located outside India
and the financial statements and other financial information have been prepared in accordance
with accounting principles generally accepted in their respective country and which have been
audited by other auditor under generally accepted auditing standards applicable in that
country. The Company’s management has converted the financial statements of such
subsidiaries located outside India from accounting principles generally accepted in their
respective country to accounting principles generally accepted in India including the
restatement adjustments. We have audited these conversion and restatement adjustments
made by the Company’s management. Our opinion in so far as it relates to the balances and
affairs of such subsidiaries located outside India is based on the report of other auditor and the
conversion and restatement adjustments prepared by the management of the Company which
have been audited by us.
