APOLLO PIPES LIMITED — Audit Report / Information 2020

Feb 4, 2020

VAPS & COMPANY Chartered Accountants

annexure-

A: C-42, South Extension Part-II New Delhi - 110 049 T: 011-41641415 / 41645051 F: 011-41644896 W: www.vaps.co.in E: info@vaps.co.in

LIMITED REVIEW REPORT

To.

The Board of Directors of M/S Apollo Pipes Limited

We have reviewed the accompanying statement of unaudited financial results of M/S Apollo Pipes Limited ('the Company'), for the third quarter and nine months ended December 31, 2019, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34) for Interim Financial Reporting, prescribed, under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder is the responsibility of Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, Review of Interim Financial Information performed the Independent Auditor of the Entity issued by Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial results are free of material misstatement(s). A review is limited to primarily to inquires of Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that cause us to believe that the accompanying statement prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For VAPS & COMPANY Chartered Accountants Firm Reg No. 003612N

$(P. K. JAIN)$ Partner M. No. 082515

UDIN :- 20082515 AAAA BD3201

Place: Noida Date: February 04, 2020.