1. We have audited the accompanying Statement containing the annual audited standalonefinancial results of Tejas Networks Limited (the "Company") for the year endedMarch 31 2019 together with the notes thereon (hereinafter referred to as the"Statement") which we have signed under reference to this report.
Management's Responsibility for the standalone financial results
2. Management is responsible for the preparation of the accompanying Statement. TheManagement is also responsible for the preparation of the annual statutory standalonefinancial statements in accordance with the Accounting Standards specified under Section133 of the Companies Act 2013 (the "accounting principles generally accepted inIndia") basis which the above Statement containing the annual audited standalonefinancial results has been prepared. The responsibility includes the designimplementation and maintenance of internal control relevant to the preparation of theStatement that is free from material misstatement whether due to fraud or error.
3. Our responsibility is to express an opinion on the Statement based on our audit. Weconducted our audit in accordance with the Standards on Auditing specified under Section143(10) of the Companies Act 2013 ("the Act") and other applicableauthoritative pronouncements issued by the Institute of Chartered Accountants of India.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the Financial Statement is free frommaterial misstatement.
4. An audit involves performing procedures to obtain audit evidence about the amountsand disclosures in the Statement. The procedures selected depend on the auditors'judgment including the assessment of the risks of material misstatement of the Statementwhether due to fraud or error. In making those risk assessments the auditors considerinternal control relevant to the entity's preparation and fair presentation of theStatement in order to design audit procedures that are appropriate in the circumstances.An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of accounting estimates made by Management as well as evaluating theoverall presentation of the Statement.
5. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.
6. In our opinion and to the best of our information and according to the explanationsgiven to us:
(i) the Statement together with the notes thereon are presented in the formatprescribed under Regulation 33 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 in this regard; and
(ii) the Annual audited standalone financial results for the year ended March 31 2019as set out in the Statement gives a true and fair view of the total comprehensive income(comprising of profit and other comprehensive income) and other financial information ofthe Company for the year ended March 31 2019 in accordance with the accounting principlesgenerally accepted in India.
Emphasis of Matter
7. We draw your attention to Note 14 of the Statement regarding the figures for thequarter ended March 31 2019 which are the balancing figures between audited figures inrespect of the full financial year and the published year-to-date figures upto the thirdquarter of the current financial year. Our opinion is not qualified in respect of thismatter.
8. The Statement dealt with by this report has been prepared for the express purpose offiling with Stock Exchanges on which the Company's shares are listed. This Statement isbased on and should be read with the Annual audited standalone financial statements of theCompany for the year ended March 31 2019 on which we issued an unmodified audit opinionvide our report dated April 22 2019.
Our opinion is not qualified in respect of this matter.
Restriction on Use
9. This report is addressed to the Board of Directors of the Company and has beenprepared for and only for the purposes set out in paragraph 8 above. This report shouldnot be otherwise used by any other party for any other purpose.
| ||For Price Waterhouse Chartered Accountants LLP |
| ||Firm Registration Number: 012754N/N500016 |
| ||Chartered Accountants |
| ||Pradip Kanakia |
|Place: Bengaluru ||Partner |
|Date: April 22 2019 ||Membership No: 039985 |