Professional Documents
Culture Documents
Re~ AGIVCS/NSE&BSE/15/2020-21
Date: 29.06.2020
To To
The Manager The General Manager
Listing Department Department of Corporate Services
National Stock Exchange of India Limited BSE limited
Exchange Plaza, Plot No. ( -1, G Block, l SI Floor, New Trad ing Ri ng. Rotunda Building
Bandra Kurla Complex. Sandra (E) Phiroze Jeejeebhoy Towers, Dalal Street, Fort,
Mumba i- 400 051 Mumbai- 400 001
NSE Symbol: ALPHAGEO BSE Scrip Code: 526397
Dear Sir,
Sub: Audited Financial Results and Auditors' Report thereon for the quarter and year ended 31st
March, 2020 under Regulatioo 33 of SEBl (Listing Obligations and Disclosure Requirements)
Regu lations, 2015 -Reg ..
In terms of Regu lation 33 of SEBl (Listing Obligations and Disclosure Requ irements) Regulations,
2015, we are he rewith submitting the following for your information and record :
1. Statement of Audited Consolidated Financial Results of the Group for the quarter and year
ended 31 st March, 2020 and Auditors' Report thereon issued by Statutory Auditors duly
approved by the Board of Directors at its meeting held on 29th June, 2020.
2. Statement of Audi ted Standalone Financial Results of the Company for the quarter and year
ended 3111 March, 2020 and Auditors' Report thereon issued by Statutory Auditors duly
approved by the Board of Directors at its meeting held on 29 th June, 2020.
Thanking You,
~tYy;.
Deepa Dutta
Company Secretary & Compliance Officer
CI N: l74210TG1987Pl COO7580, Regd. Office: 802, Ba bukhan Estate, Basheerbagh, Hyderabad- sao 001, INDIA
'4 ALPHA @W) (lNDI4) LIMITED
Plot No.1, Sagar Society. Road No.2, Bln)a" Hilts, Hyderabld . 500034
Tel : +91-4o.23550502 12355050J I 23540504, Fu : ·91"Q.235502~
E-rnall : InfoC. lphageoindll .com, Website : www.• lphageolndll.C:om
".
S.NO. PARTI CU LAR S
"II not
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• Regel. Office : 802. Babukhan Estate , Basheeroagh. Hyderabad - 500 DOl . INDIA
AALPHA®ID
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c ~ I'd I If 51 • Ielnen I of AUris
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'" d LUblllli K
A5 AI A5 A t
S.NO. hrt icu ln s 31.03.2020 ,)1.03.2019
"1Id-ited " udiled
ASSI:TS
No n-<lllTenl'5MI!l
a) Property, plant and eq\lipment 832H2 9095."
b) Capital work-ln-progTl"Sll 104.24 104.24
c) Int.:l.IIgible <ISM'1s 6.13 162.66
d) Deferred tax As6eI (net) "".95 974.4]
leiOthtf I>Of><\I.nmt IlSSeIS 82~ .02 ' .83
A ToU l NOIH'Ulftnl IMrit am." lDl44..20
Curnnl,S!1et5
a) In\'('IIlori("5 102.84 42,50
b) ,:Inancial iISIlCtll
(il Trade re.:e!v.b11'S 11379.« ,""-"
(Ii) Ush and cuh equivalents 71&1.65 10516.70
(lUI BlInk b.lance other than (ii) IIbovt 1578.49 1851.58
(iv) loaM "'-57 -
c) CUl'TCn1 Tax A~'1S (nct) )9]6.82 248.10
Id) Other current IlSIICIII 966.76 558.93
• Tot •• Cufftnl.Yets 22521.57 29610.07
C
c Provisions
Tot.1 CUm!'nl lUIbllilin "."
1>892.17
25.03
12322.96
S.NO. j I
ConI4 .••
· AALPHA ®Wl
Notes:
Th~ aoov{' Consolidatc'il Audited Fi na ncial t<'Sults for the quarter and the yNr ended 31st March, 2020, as t~vi~w~d by the Audi t
CommittC(', have oc..,n considered and approved by the Board of Directors at its meeting held on June 29, 2020. The same also ,,-er..
audited by Ihe Audi to rs of th .. Company an\! their rt"port con tains qualificatinn .
2 Th(' Stale~nl has ~n p'i'polred In acrordaoc{' with the Companil'" (Indian Accounting Stand anls) Rut\'S, 2015 (Ind AS) prescribed
under Section 133 of the Companies Act, 2013 and other recognised accounting practices amI policies to the extent applicable.
3 The Consolidated res ults include the Auditl'd financial results 01 Indian Subs idiaries viz" Alphagf'O Marin<' Servicl'5 Private Ltd and
Alphageo Offshore Service!; Private Lid and consolidated financial results of foreign sub!;idiary Alphagro International Ltd, Dubai and
il~ Subsidiary Alphagl'<l DMCC, Dubai.
4 The figures for th~ quarters endro 3] March 2020 and 3] March 2019 arc the balancing figures between audited figures for the full
financial yea r and the reviewed year to date figures upto the third quarter of the respectivr financial years.
5 The Group has adopted Ind AS 1]6 with modified ret rO!ipecti ve approach, with dfl'Ct from April I, 2019. AC(:ordlngly, the compa rative
periods Mve not ~'<!n restated . The adoption of the standard did not hav~ Jny ma t" ri ~1 imp;><:t on finandal res uilli of the grnup.
6 In July 2019, th e Income Tax Departm,'nt (·))cpartrTli.'nt') has conductro a :;e3T(h under ~tion 132 of the Income Tax Act, 1961. The
company has provided the rl"lUl'Stet.l informa tion and docllllll'nts with the Department. In this ">gard, the st~tul0ry audi tors have
qualified their Audit Report.
7 The group is engagro in the busini'SS of ' Grophysical Da ta Acquisition, Processing and interpretation ScrviCt.'S' and thcrdore. ha:; only
one reportable 5<'gnlen t in I>«ord sn« with Ind AS lOB ·~rating So.,&nlt' nts"
8 In pursuance to St'Ction 1]5 BAA of the Income Tax Act. 1961 announced by Government of India throllgh Taxation la"'s (Amendment)
Act, 2019, the Company has an Irrevocable opti on of shifting to a lower tax rate . The Company has opted for this option after
eva lua ting the 51UTll' and continues to r«ngni2t' tilt' taxes on Income.
9 Contract dosul"\' charges for the March quarter amounting to Rs.1391.\9 Lakhs and y"ar to dat" of Rs.3,279.39 Lakhs on account of
dien! enforCl'd performanc.... commitments.
10 On Marc h I L 2020, thl' World Health Organi Ultion charac teriud the outbl'\'ak of a straIn of the new corona virus (COV I!)..I9") as a
pilndemlc. This outbreak is causing significan t disturba nce end slowdown of economic actlvity. Th. . Group's operatioru! ...·~re impacWd
in the month of March 2020, following nation"id . . lockdown announced by the Government of India.
The management hits assessed the !mp;><:t of COV!!)..19 pand emic on the financial statemt'nts, business operations, liquidity position,
cash fl ow and has concluded that based on the corrent l'Stimall's no materiel adjustments are req ulr('<Iln the carrying amount of assets
and liabilities as at 31st March 2020.
The impact of the pilndemic may be differ~nt from that estimated as at the date of approva l of these financial stat""",nts and the Group
w ill continue to dOS<!ly monitor eny mIItcrial chan ges to fu ture economic condhions.
II The Board of OireclOI"li of the company has dedar<'<l and paid an in t~rim divid{'nd of Rs. 8/- per sha re of face va lue Rs.ID /--each for the
fina ocial yea r 2019-20.
.,
" Fi
PART ICULARS
13 The figurl'S for the previous year hav{' \){'{on redassifio.'d / regroupt'd whe~ver na:essary to confonn to com.'nt year's classification.
HYDERA8AD
Q~'
lJin~ h All.
Jun{'29, 2020 Ch.;m"n &: Man.ging Oi M(lor
MAJETI & CO
Chartered Accountants
Qualified Opinion
In our opinion and to the best of our information and according to the explanations given to
us, and based on the consideration of reports of other auditors on separate audited financial
statements except for the effect of the matter described in the basis of qua lified opinIon
section of our report, the Statement:
(ii) are presented in accordance with the requirements of Regulation 33 of the Listing
Regulations In this regard; and
(iii) give a true and fair view in conformity with the recognition and measurement principles
laid down In the applicable accounting standards prescribed under Section 133 of the
Companies Act, 2013 (the "Act") and other accounting principles generally accepted in
India, of net loss and other comprehensive Income and other financial information of the
Group for the year ended March 31, 2020 and the consolidated statement of assets and
liabilities and the consolidated statement of cash flows as at and for the year ended on that
date except for the possible effects of the matter described in Basis for Qualified Opinion
below.
As mentioned in Note NO .6 to the statement, the company was subjected to the proceedings
under section 132 of the Income Tax Act. As per the information and explanations given to
us by the Management, consequentIal impact of the search proceedIngs, if any, are
presently unascertainable and no provision has been made in t he audited consolidated
financial results.
We conducted our audit in accordance with the Standards on Auditing ("SAs") speCified
under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities
under those Standards are further described In the Auditor's Responsibilities for the
Audit of the Consolidated Financial Results section of our report. We are independent of
in accordance with the Code of Eth ics issued by Institute of Chartered
of India ("ICAI") together with the ethical requirements that are relevant to
. Sampada ApIS., ! 6·3·347/17. Dwarakapurl Colony Sal Baba Temple Road.! Punjaguna. Hyderabad - 500 082
<lJ Off.' +91·40·2335 80551 E·mail : kiranmajetiOoutlook.com
MAJETI& CO Continuation Shee[
Chartered Accountants
thereunder, and we hav e fulfilled our other ethica l responsibilities In accordance with
these requirements and the Code of Ethics. We bel ieve that the audit evidence obtained
by us and other auditors in terms of their reports referred to in "Other Matters"
paragraph below, is suffiCient and appropriate to provide a basis for our qualified
opinion.
We draw your attention to Note 10 of the Consolidated Fina ncial results, which describes the
management's assessment of the financial impact of the events arising out of Coronavirus
(Covld-19) pandemic, for which a definitive assessment of the impact in the subsequent
period is dependent upon the circumstances as they evolve.
These Consolidated financial results have been prepared on the basis of the consolidated
annual financial statements. The Company's Board of Directors are responsible for the
preparation and presentation of the Consolidated Fina ncia l Results that give a true and fair
view of the consolidated net Loss and consolidated other comprehensive income and other
financial information of the Group in accordance with the lnd AS and other accounting
princi ples generally accepted in India and in compliance with Regulation 33 of the Listing
Regulat ions. The respective Boards of Directors of the companies included in the Group are
responsible for maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Group and for preventing and
detecting frauds and other irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable and prudent; and the design,
implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the respective financial results that give a
true and fair view and are free from material misstatement, whether due to fraud or error,
which have been used for the pu rpose of preparation of this Consolidated Financial Results
by the Directors of the Company, as aforesaid.
In preparing the Consolidated Fina ncial Results, the respective Board of Directors of the
companies included In the Group are responsible for assessing the ability of the respective
entities to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern bas is of accounting unless the respective Boards of
Directors either intend to liquidate their respective entities or to cease operations, or have
no realistic alternative but to do so .
The respective Boards of Directors of the companies Included in the Group are responsible
for overseeing the financial reporting process of the Group .
be expected to influence the economic decisions of users taken on the basis of this
Consolidated Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
• Identify and assess the risks of materia l misstatement of the Consolidated Financial
Results, whether due to fraud or error, design and perform audit procedures responsive to
those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of Internal control.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis
of accounting and, based on the audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the ability of the
Group to continue as a going concern. If we conclude that a material uncertainty exists , we
are required to draw attention in our auditor's report to the related disclosures In the
Consolidated Financial Results or, if such disclosures are inadequate, to modify our opinion.
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 the Group to cease to continue as a
going concern.
• Evaluate the overall presentation, structure and content of the Consolidated Financial
Results, including the disclosures, and whether the Consolidated Financial Results represent
the underlying transact ions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial results of the entities
within the Group to express an opinion on the consolidated Financial Results. We are
responsible for the direction, supervision and performance of the audit of financial
information of such entities included in the consolidated financial results of which we are the
independent auditors. For the other entities included in the conSO lidated financial results,
which have been audited by other auditors, such other auditors remain responsible for the
direction, supervision and performance of the audits carried out by them. We remain solely
responsible for our audit opinion.
We communicate with those charged with governance of the Company and such other
entities included in the Consolidated Financial Results of whi ch we are the independent
MAJETI&CO Continuation Shee[
Chanered Accountants
auditors 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
identify during our audit.
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 may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
We also performed procedures in accordance with the circular issued by the SEBI under
Regulation33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matters
1. We did not audit the financial statements of three subSidiaries (including one
stepdown subsidiary Included In the consolidated financia l results, whose financial
statements reflect total assets of Rs. 4374.12 Lakhs as at March 31, 2020, total
revenues of RS.4 16.84 lakhs, total net profit before tax of Rs. 177.4 1 lakhs and total
comprehensive income of Rs.132.75 lakhs for the year ended on that date, as
considered in the consolidated financial results. These financia l statements have
been audited by other auditors whose reports have been furnished to us by the
Management and ou r opi nion on the consolidated financial results, In so far as it
relates to the amounts and disclosures Included in respect of these subsidiaries is
based solely on the reports of the other auditors.
2. Our opinion on the Statement is not modified in respect of the above matters with
respect to our reliance on the work done and the reports of the other auditors.
3. The Financia l Results include the results for the quarter ended March 31, 2020 being
the balancing figures between the audited figures In respect of the full financia l year
and the pu blished unaudited year to date figures up to the third quarter of the
current financia l year, which were subject to limited review by us.
4. The consolidated annual financial results dealt with by this report have been
prepared for the express purpose of filing with stock exchanges on which the
Company's shares are listed. These results are based on and should be read with the
audited consolidated financial statements of the grou p for the year ended March 31,
2020 on which we have issued an modified audit opinion vide our report dated June
29, 2020.
". I"~~"!,,
S.NO. PARTICU LARS
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" Ih. "'.19 '75.62 2501.78
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~ Regd. OffICe : 802, Babukhan Estate, 8asheerbagh. Hyderabad ~ 500 001 , INDIA
~jndia'~~f»0J
AALPH4 ~
STAN DALONE STATE M ENT O F ASSETS AN D LIABIUTES:
(i) Borrowings
I' rovlsions
I .
l...!,--J~~i~~~'~jabililies
~~~g
AALPH4 @W)
STATEMENTOFCASII FLOWS
S.NO.
Trade receivables
im'enturies
Tnde other li.lbiliUes a nd
"
A+8+C increasti (decrease) in cuh and cOl8h equivalents
b:change difference on traru\alion of foreign (UT'ency ush and c:aJh I'tjuivalents'
Fair Value chaogt'S on liquid invt'Stmt'ots
,
eoo td ...
AALPHA ~
Noles:
I 11lI' above St",ndalone Audili'd Financial .\.'Sults for lhe quarter and the year ended 3 1st March 2020 as feY",,,,'!;'d by Ihe Au dit
Commi llt'(', have ~'en considered and approved by lhe Board of Dm'Ctors a t ils nlt.'t'ting held on June 29,2020. The 5a1Tll' also
we're audi ted by the Audi tors o f th.. Company and their report contains quaHiitalion.
1 Thc SI~Il'nl1.!n t has bet>n p,epMl'd in acco rda nce wi th the Compa nies (India n Accounting Standa rds) Rules. 2015 (I nd AS)
pre5Cribl'd und er Se.:lion 133 of the COnlpdnil'5 Act, 2013 and olh(', recognised iI,coun ting pract ices and policies to the {'xtent
applkabll'.
3 Tlle Comp~ny is t'T\gagl'd in the business of 'GeophySical Data Acquisi tion. P,oct-'!ising and interpretation Servk:es" and
lheref()n!, has only one rcporta blo:- scgml'n t in acrorda n«> with lnd AS 108 "Operat ing Segmmts'.
• The Company has adoptl'(l lnd AS 116 wilh modifit,.'I:] Il'I r06pec1 ive apPl'OiI("h, wilh eff\."C1 from April I, 2019 Accordingly, till'
rompa ralive periods haVl' not been resta ted . The adoption of the standard did not ha ve any mall'rial impa(l on financial
resu lts of the cumpany .
5 111l' figu rl'S for the quarters ell(led 3 1 Mpf('h 2020 and 3 1 '-Ian:h 2019 are thl' balanCing fi gure!! bt-'1w~'Cn Hudiled figures fo r the
full finand:11 yea r and the revil''''ed )'l'81 to dHtl' figllTl'5 upto the th ird quart er of the respt,ctive financ ial year.
6
In July 2019, the Income Tax Oepart n'\('nt ('Department') has cond ucted a liCaf('n undl'r .'l('Clion 132 of the Income Tax Act,
1961. Till' COnlpany has p rov idl-'d tl\(' requested informa tion and docu men ts with II\(' lJl'partment. In Ihis (('"gard, the ~talUtory
auditors have qualified in lheir Au dit Report .
7 In pursuancl' to s..'Clion 115 HAA of lhe Income Ta~ Ac1, 1961 a nnounced by Government of India through Tilxa tion Laws
(A nll'lIdmcnt) A(I, 2019, the Company has an iUl'Vocable uptkm of shift ing to a lower tax Idle . The Company has opted for
this o ption aft!'r eval uatin g thc ';II11e And continu es to rl'COgnb:e the taxes on income.
, Contract closure charges for the March quarter amounting to Rs.1391.19 Lakhs lind yea r to date of Rs.3.279J9 Lakhs on
Qualified Opinion
We have audited the accompanying standalone annual financial results ('the Statement') of
AlPHAGEO (INDIA) LIMITED ('the Company') for the year ended 31 March 2020, attached
herewith, being submitted by the Company pursuant to the requirements of Regulation 33
of the SEal (listing Obligations and Disclosure Requirements) Regulations, 2015 (as
amended) ('listing Regulations'), including relevant circulars issued by the SEal from time
to time.
In our opinion and to the best of our information and according to the explanations given to
us, the Statement:
i) presents financial results In accordance with the requirements of Regulation 33 of
the Listing Regulations, except for the possible effects of the matter described in
Basis for Qualified Opinion; and
ii) gives a true and fair view in conformity with the applicable Indian Accounting
Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 ('the
Act'), read with relevant rules issued thereunder, and other accounting principles
generally accepted in India, of the standalone net loss after tax and other
comprehensive income and other financial information of the Company for the year
ended 31 March 2020 except for the possible effects of the matter described In Basis
for Qual ified Opinion below.
As mentioned in Note NO.6 to the statement, the company was subjected to the proceedings
under section 132 of the Income Tax Act. As per the information and explanations given to
us by the Management, consequentIal Impact of the search proceedings, if any, are
presently unascertainable and no provision has been made in the audited standalone
financial results.
We conducted our audit in accordance with tile Standards on Auditing (SAs) specified
under section 143(10) of the Act. Our responsibilities under those Standards are further
described in the Auditor's Responsibility for tile Audit of tile Standalone Financial
Statements section of our report. We are independent of the Company in accordance
with the Code of Ethics Issued by the Institute of Chartered Accountants of India (ICAI )
together with the ethi cal requ irements that are relevant to our audit of the standalone
financial statements under the provisIons of the Act and the Rules made thereunder and
we have fulfilled our other ethical responsibilities in accordance with these requirements
and the ICAl's Code of Ethics. We believe that the audit evidence obtained by us is
sufficient and appropriate to provide a basis for ou r qualified opinion on the standa lone
financial statements.
Siri Sampada ApIS., I 6·3·347/17. Owarakapurl Colony Sai Baba Temple Road. IPunjagutta. Hyderabad • 500 082
(f) OH.: +91·40·2335 8055 I E·mail : kiranmajeti@out1ook.com
MAJETI&CO Continuation Sheet
Chartered Accoumants
We draw your attention to Note 9 of the Standalone Financial Results, which describes the
management's assessment of the financial impact of the events arising out of Coronavirus
(Covid-19) pandemic, for which a definitive assessment of t he Impact in the subsequent
period is dependent upon the circumstances as they evolve.
These Standalone financia l results have been pre pared on the basis of the standalone
annual financ ial statements for the year ended March 31, 2020.
The Company's Board of Directors Is responsible for the matters stated In section 134(5) of
the Act with respect to the preparation of these standalo ne fi nancia l Results that give
a true and fair view of the financial position, financia l performance including other
comprehensive income and cash flows In accordance with the Ind AS and other accounting
principles generally accepted in India and in compliance with Regulation 33 of the Listing
Regulations. This responsib ility also includes maintenance of adequate accounting records
in accordance with the provisions of the Act for safeguarding the assets of the Company
and for preventing and detecting frauds and other irregularit ies; selection and
applicat ion of appropriate accounting policies; making judgment s and estimates that
are reasonable and prudent; and design, implementation and maintenance of adequate
internal fina ncial controls, that were operating effective ly for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the
standalone financial results that give a true and fair view and are free from materia l
misstatement, whether due to fraud or error.
I n preparing the standalone financial Results, the Board of Directors is responsi ble for
assessing the Company's ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless the
Board of Directors either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.
Those Board of Di rectors are also responsible for overseeing the Company's financia l
reporting process .
Our objectives are to obtain reasonable assu rance about whether the standa lone financial
Results as a whole are free from materia l misstatement, whether due to fraud or error,
and to Issue an auditor's report that Includes our opinion . Reasonable assurance Is a high
level of assurance, but is not a gua rantee that an audit conduct ed in accordance with SAs
will always detect a material misstatement when it ex ists. Misstateme nts can arise from
fraud or error and are considered material if, Individually or in the aggregate, they could
reasonably be expected to influence the economic deCisions of users taken on the basis of
standalone financial Results .
MAJETI &CO Continuation Sheet
Charttred Accountanu
As part of an audit In accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the standalone financial
Results, whether due to fraud or error, design and perform audit procedures responsive
to those risks, and obtain audit evidence that is sufficient and appropriate to provide a
basis for our opinion . The risk of not detecting a material misstatement resulting from
fraud Is higher than for one resulting from error, as fraud may involve coitusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
• Conclude on the appropriateness of Board of Directors' use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the Company's
ability to ~ontinue as a going concern. If we conclude that a material uncertainty exists,
we are required to draw attention in our auditor's report to the related disclosures in the
standalone financial Results or, if such disclosures are inadequate, to modify our opinion.
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 the Company to cease to
continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone financial
Resul ts, including the disclosures, and whether the standalone financial Resu lts
represent the underlying transactions and events in a manner that achieves fair
presentation.
Materiality is the magnitude of misstatements in the standa lone financial statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the standalone financial statements may be influenced. We conside r
quantitative materia lity and qualitative factors in (i) planning the scope of our audit work
and In evaluating the results of our work; and (Ii) to evaluate the effect of any identified
misstatements In the standa lone financial statements.
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 identify during our audit.
MAJETI&CO Continuation Sheet
Chanered Accountants
We also provide those charged with governance with a statement that we have complied
with relevant ethical requirements regard ing independence, and to communicate with them
all relationships and other matters that may reasonably be thought to bea r on our
Independence, and where applicable, related safeguards.
Other Matters
The annual financial results include the results for the Quarter ended 31 March 2020 being
the balancing figure between the audited figures in respect of the full financial year and the
published unaudited year to date figures up to the third quarter of the current financial year
which were subject to limited review by us.
The standa lone annual financial results dealt with by this report has been prepared for the
express purpose of filing with stock exchanges on which the Company's shares are listed.
These results are based on and should be read with the audited standalone flnancial
statements of the Company for the year ended March 31, 2020 on which we issued an
modified audit opinion vide our report dated June 29, 2020.
f'I(1 . ~0v0'" ~
~~a~ Kumar Majetl
Partner
Place: Hyderabad Membership No: 220354
UDIN No: 20220354AAAAAVB134
Date: June 29, 2020
AALPHA @@
Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted
alongwith Annual Audited Financial Results (Standalone and Consolidation)
Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2020
[Regulation 33 and Regulation 52 of the SEBI (LODR) (Amendment) Regulations, 2016]
(Rs. in Lakhs)
I SI. Particulars Standalone Consolidated
No Audited Audited Audited Audited
FiQures· Fiqures" Fiqures· FiQures"
1. Total Income 27126.64 NA 27146.72 NA
2. Total Expenditure 28075.59 NA 27917 .80 NA
3. Net ProfiV (Loss) (1009.99) NA (876.78) NA
4. EarninQs Per Share (15.87) NA (13.77) NA
5. Total Assets 29709.02 NA 32744.53 NA
6. Total Liabilities 6998 .66 NA 6981.38 NA
7. Net Worth 22710.36 NA 25763.15 NA
8. Any other financial item(s) NA NA NA NA
(as felt appropriate by the
manaqement)
.. (as reported before adjusting for qualifications)
.... (audited figures after adjusting for qualifications)
II. Audit Qualification (each audit qualification separately) - (Standalone and Consolidation)
A. Details of Audit Qualification:
As mentioned in Note No. 6 to the Financial Results (both standalone and consolidated),
the Com pany was subjected to the proceedings under section 132 of the Income Tax Act.
As per the information and explanations given to us by the Management, consequential
impact of the search proceedings, if any, are presently unascertainable and no provision
has been made.
B. Type of Audit Qualification Qualified opinion Ves
Disclaimer of -
opinion
Adverse opinion -
C. Frequency of qualification Appeared first time Ves
Repetition -
Sin ce how long .
continuinq
D. For Audit Qualification(s) where the impact is Not Quantified
quantified by the auditor, Management's Views:
AALPHA ®ID
iii. Auditors ' Comments on (i) or (ii) above. Refer to Audit Qualification
mentioned in Point no. II above
In. Signatories:
1. Dinesh Alia
Chairman and Managing Director
2. Sesham Purushotham
Chief Financial Officer
3. Raju Mandapalti
Chairman of Audit Committee
Place: Hyderabad
Date: June 29, 2020