Reply to Clarification- Financial results

II. B. KALARIA & ASSOCIATES A-601/602, The lmperial Heights, 150 Ft. Bing Boad, Chartered Accountants Opp. Big Bazaar, Flajkot - 360 004. INDEPENDENT AUDITOR'S REPORT ON AUDITED ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAT RESUTTS To the Members of Shree Ram Proteins Limited Report on the lndian Accountint Standards (lnd AS) Financial Statements Adverse Opinion We have (a) audited the accompanying lnd AS financial results which comprises the Balance Sheet as at March 3L,2025, the Statement of Profit and Loss, and Statement of Cash Flows for the year then ended, and notes to the lnd AS financial results and (b) reviewed the Financial Results for the quarter ended March 37, 2025 (refer 'Other Matters' section below), which were subject to limited review by us, both included in the accompanying "Statement of lnd AS Financial Results for the Quarter and Year ended March 37,2025 of Shree Ram Protelns Llmlted ("the Compony''1, ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended ("the Listing Regulations"). (a) Opinion on Annual Financial lnd AS Results ln our opinion and to the best of our information and according to the explanations given to us, the aforesaid lnd AS financial statements: Are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as amended il. Do not Bive a true and fair view in conformity with the recognition and measurement principles laid down in the lndian Accounting Standards and other accounting principles generally accepted in lndia of the net profit and total comprehensive income and other financial information of the Company for the year then ended. (b) Conclusion on audited lnd AS Financial Results for the quarter ended March 31,2025 With respect to the lnd AS Financial Results for the quarter ended March 37,2025 based on our review conducted as stated in paragraph (b) of Auditor's Responsibilities section below, nothing has come to our attention except as stated below that causes us to believe that the lnd AS Financial Results for the quarter ended March 31, 2025, prepared in accordance with the recognition and measurement principles laid down in the lndian Accounting Standards and other accounting principles generally accepted in lndia, has not disclosed the information required to be disclosed an terms of Rogulation 33 of thc SEBI (Licting Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. Tel.:O281-2581 5O1 l02 l03 +91 98240 42115,5924'1 32115 info@hbkalaria. in I{. B. KALARIA E ASSOCIATES A-601/602, The lmperial Heights, 150 Ft. Ring Road, Chartered Accountants Opp. Big Bazaar, Flajkot - 360 004. Basis for Adverse Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor's Responsibilities lor the Audit of the lnd AS Finoncial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the lnstitute of Chartered Accountants of lndia together with the ethical requirements that are relevant to our audit of the lnd AS financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. We draw attention to the matters described in Annexure 'A' the effect of which, individually or in aggregate, are material and pervasive to the lnd AS financial statement and matters where we are unable to obtain sufficient and appropriate audit evidence. The effects of matters described in said Annexure 'A' which could be reasonably determined are quantified and given therein. Our opinion is adverse in respect of these matters. Responsibility of Management for the lnd AS Financial Statements The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these lnd AS financial statements that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information of the Company in accordance with the accounting principles generally accepted in lndia, including the accounting Standards specified under Section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate implementation and maintenance of accounting policies; making judgments and estimates that are reasonable and prudent; and 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 lnd AS financial statement that give a true and falr view and are free from material misstatement, whether due to fraud or error. ln preparing the lnd AS financial statements, management is responsible 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 management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Thoro Bo;trd of Dircctorl lrc al.,n rc,,pon.;ihll fnr nvrrrrring thn rnmpnny'r finnnrinl reporting process. Tel.:O281-2581 5O1 I 02 I 03 +91 98240 42115,99241 32'l.15 info@hbkalania.in II. B. KALARIA & ASSOCIATES A-601/602, The lmperial Heights, 150 Ft. Ring Hoad, Ghartered Accountants Opp. Bis Bazaar, Hajkot - 360 004. Auditor's Responsibility for the Audit of the lnd AS Financial Statements (a) Audit ofthe lnd AS Financial Results for the year ended March 31, 2025 Our objectives are to obtain reasonable assurance about whether the lnd AS financial statements as a whole are free from material 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 guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements 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 these lnd AS financial statements. As part of an audit in accordance with SAs, we exercise professionaljudgment and maintain professional skepticism throughout the audit. We also: 1. ldentify and assess the risks of material misstatement of the lnd AS financial statements, 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. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. 3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made [Showing first 8,000 characters — download PDF for full document]