We have audited the accompanying standalone Ind AS financial statements of M/s
HINDUSTAN AGRIGENETICS LIMITED (CI'N No.! L01119DL1990PLC04W79),
wh ch comprises the standalone Balance Sheet as at 3i"1 March 2024J and the
standalone? Statement of Profit and Loss (including Other Comprehensive Income Jr
the statement of changes in Equity and Statement Of Cash Rows for the year ended
on thfiT dote and notes to the standalone financial statements, Including a summary
of significant accounting policies and other explanatory information.
Basis for Opinion
We conducted pur audit in accordance with, the Standards an Auditing (SAs) specified
under section 143(10) of the Companies Actr 2013, Our responsibilities under those
Standards are further described in the Auditor's Responsibilities for the Audit or the
Standalone financial statements section of our report. We are Independent of the
Company in accordance with the Code of Ethics’ issued by tho institute of Chartered
Accountants oF India together with the ethical requirements that are relevant to our
audit of the standalone financial statements under the provisions of the Companies
Act, 2013 and the Rules there under, and we hove fulfil led our other ethical
responsibilities In accordance with those requirements and the ICAI's Code or Ethics,
We believe chat the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our opinion an the standalone financial statements.
Responsibilities of Management and those charged In the governance for
1. The Company's Board of Directors is responsible Tor the matter stated In Section
134(5) of the companies Act, 2013 ("the Act") with respect to the preparation of these
standalone financial statements that give a true and fair view of the state of affairs,
profic/loss, and cash flows of the company In accordance with the accounting principles
generally accepted In Ind la r including the Indian Accounting Standards (IND AH)
specified under section 133 of the Act, read with Rule 2 of the Companies (Accounts)
Role. 2014, This responsibility also Includes maintenance of adequate accounting
records Ln accordance with the provisions or the ACE for safeguarding the assets of the
company and for preventing and detecting frauds and other irregularities! selection
and application of appropriate accounting policies; making Judgments and estimates
that are reasonable and prudcnl:; and design. Implementation and maintenance of
adequate Internal financial control, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to th-e preparation and
presentation of standalone financial statements that give a true and fair view and are
frqq from matonal misstPtomqnts, whether due to fraud or error,
In preparing the standalone financial management, and board Of
directors are responsible for assessing the company's ability to continue as a going
concern, disclosing, as applied ble, matters related lu going Concern end 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.
iipard of Directors ic also responsible for overseeing the Company's financial reporting
process.
Auditor's Responsibility for the Audit of Standalone financial statements.
.2. Our objectives ore to obtain reasonable assurance about whether the standalone
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- Reason able
aSSuTAnce ES ft high level Of assurftnCe, but ift 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 arc considered material Ifr Individually
Or in the aggregate, they couldr reasonably be expected to influence the economic
decisions or users taken on the basis of these standalone financial statements.
Our responsibility is to express an opinion on these standalone financial statements
based on our audit.
We have taken Into account the provisions of the Act, the accounting and auditing
standards and matter which are required to be included In the audit report under the
provisions of the Act and Rules made there under.
We conducted our audit In accordance with the standards on auditing specified under
section 143(10) of the Act. Those standards repulre that we comply with ethical
requirements end plan and perform the audit to obtain reasonable assurance about
whether the standalone financial statements are free from material misstatements
An audit Involves performing procedure to obtain audit evidence about the amounts
and disclosure in the Standalone financial statements. The procedures selected depend
an the auditor's judgment, including the assessment of the risk of material
misstatements of the standalone financial statements, whether due to fraud or error
In making those risk assessment, the auditor considers Internal control relevant to the
Company's preparation of the standalone financial statements that give n true and fair
view In order to design audit procedures that are appropriate in the circumstances, but
rtot for the purpose of expressing an opinion on whether the company has In place an
adequate Internal financial controls system over financial reporting and Che operating
effwcrivKness of such controls. An audit also Includes evaluating the approprratencss of
accounting policies used and the reasonableness or accounting estimates made by the
company's Directors, as well as evaluating the overall presentation of standalone
financial statements.
We betievE:^ that the audit evidence we have obtained Is sufficient and appropriate to
provide a basis for our audit opinion on the standalone financial statements,
Opinion
3. In Pur opinion and to Che best qf our Information and according to the explanations
given to g*r tht standalone financial statements give the information required by the
Art in the manner so required and give a true and fair view in conformity with the
accounting principles acne rally accepted In Xndrai
a. In case of the Balance Sheet,, of the state of affairs of the Company as at 31" March
3524;
b. in case of Profit and Loss Account {total comprehensive Income changes In Equity), of
the Profit for the year ended on that date-
c. In case of Cash flow statements, of Ehe cash flews for the year ended 31*' March
2924.
Key Audit Matters
Key audit matters are Ohh matters that, In our professional Judgment, were of most
significance *n our audit of the financial statement of the current, period, These matters
were addressed In the context of our audit of the financial statement as a whole, and
in forming our opinion thereon and we do not provide a separate opinion on these
matters.
Hoport on other Legal and Regulatory Requirements
4) As required by the Companies {Auditor's Report) Order* 2020 ("the order'"),
1%'iiiorl by Central Government of India in terms of sub-section (II) of section
143 df the companies Act, 2043, W* give in the Annexure A a statement
on the matters specified in paragraphs 3 and 4 or the order.
2) (A) As Required by section 443(3) of the Act, WC report: that:
a. We have sought and obtained all Information and explanations which to the best of our
kno wledge und belief were nttcessary for fhn purpose Of Oilf audit
b. In our opinion proper books of account as required by Law have been kept by the
CLiiinu-fjriy 90 far ais It appears from uu> examinations of Lhasa books
c. The franco Shoot, statement of Profit and Loss and the cash Flow Statement dealt
with by this Report ore In agreement with the books of account.
d. In Our opinion, the aforesaid financial Standards comply With the specified under
lection 3 3 3 of the Act •
c. On the basis aF written representation* received Trom the directors as on 3 1,s March
2024 taken nn record by the Hoard of Directors, none of the director is disqualified as
on 34“ Msreh 2024, from being appointed as a director |n terms of section 164(2) of
the Act.
f. With respect to the adequacy of internal financial controls with reference to financial
statement of the company and the operating effectiveness of such controls , refer to
our separate report In Annexure O
g. With respect to the other metiers to be Included in the Auditor's Report In accordance
with -rule 11 of the companies {Audit and Auditors) RuIp^, 2014. In our Opinion urd to
the best of our Information and according to the explanations gives to us: Ý i i-iii
I, The Company did not have any ponding ntlgoHon hence no 1 it pads or Its flnantt.il
position;
(t. The Company did not tiavo i|ny lontf term Contracts Including derivative contracts
ror AUlrlT there ware any mareiial roieseeaule losses.
III. The company m= not transferred hs 1,53,692 refund «rt^nd"2t
eight yean; under the head thorp application money to the investor Education and
Protection Fund,
lv eased on eur examination, which included tost chocks, the Compaq hi* used
accounted &oftw*rea( for maintaining its oaoks pf account Tor ttie financial V^aii
tuded March 31, 2024 which has a feature of recording audit trail {c*dit log) facility
and tho Ý•Ýno hos operated throughout the veer for «Ý[
recorded In the softwares. Further, during the course of our audit wc did not come
across any instance of the audit trait feature being ta moored with.
v. *s proviso to nule 3tl> of the Companies (Accounts.) Rules. 20 id h applicable from
April 1, 2023, reporting under Rule 11(g) of thn Companies (Audit and Auditors)
Hines 2010 On preservation of audit trail us per the statutory requ Sr
record retention ,s not applicable rrw the nnanclal year ended March 31, 2021-
For R.K.GUlATI & ASSdtlMES
Chartered ACCOUNTANTS
Firm's Registration No.: fi0722tiN
Places Mew Delhi —-ivc
Dated: 29.05.2024 ( _
(CA RAKtSH GULATI)
PARTNER
M, No.: OSAB9S
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