BSR&Co.LLP

AGS Transact Technologies Limited

06 January 2022
Page 4 of 6

8)

(b) The financial statements of the four subsidiaries in Annexure A(iii) for the five months period

ended 31 August 2021 whose financial statements/financial information reflect total assets
(before consolidation adjustments), total revenues (before consolidation adjustments) and net
cash flows, as considered in the consolidated financial statements as tabulated below, have
not been audited by us or by other auditors. The financial information of the associate for the
five months period ended 31 August 2021 and for years ended 31 March 2021 and 31 March
2020 which reflects Group’s share of loss (before consolidation adjustments) considered in
the consolidated financial statements as tabulated below, has not been audited by us or by
other auditor. These unaudited financial information has been furnished to us by management
and our audit opinions for the relevant years/period on the consolidated financial statements,
in so far as it relates to the amounts and disclosures included in respect of the aforesaid
subsidiaries and associate for the relevant years/period is based on solely on such unaudited
financial information.

 

(Rs. in million)

 

Particulars As at and for the five
months period ended
31 August 2021

 

In respect of subsidiaries:

 

 

 

 

 

Total assets 290.07
Total revenues (including other 47.34
income)

Net cash inflows 6.48

 

(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 associate:

 

 

Group’s share of net (loss) (7.95) (16.23) (8.71) NA
in its associate

 

 

 

 

 

 

In our opinion and according to the information and explanations given to us by the Management,
these financial statements/financial information are not material to the Group.

Our opinion on the consolidated financial statements is not modified in respect of these matters.

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

a.

have been prepared after incorporating adjustments for the changes in accounting policies
and regrouping / reclassifications retrospectively in the financial years ended 31 March
2021, 31 March 2020 and 31 March 2019 to reflect the same accounting treatment as per the
accounting policies and grouping / classifications followed as at and for the five months
period ended 31 August 2021;

does not contain any qualifications requiring adjustments. However, those qualifications in
the Companies (Auditor’s Report) Order, 2016 issued by the Central Government of India in
terms of sub section (11) of Section 143 of the Act, which do not require any corrective
adjustments in the Revised Restated Consolidated Financial Information have been disclosed
in Annexure VII to the Revised Restated Consolidated Financial Information; and

have been prepared in accordance with the Act, the ICDR Regulations and the Guidance
Note.
