Cords Cable Industries Limited — Annual Report 2020

Jun 27, 2020

CQRDS" CORDS CABLE INDUSTRIES LTD.

REGD. OFFICE : 94. 1st Floor, Shambhu Dayal Bagh Marg, Near Okhia industrial Area Phase-li!, i Old ishwar Nagar, New Delhi - 110020 Tel : +91-11-40551200 ; Fax : +91-11-40551281 Website ; www.cordscable.com ; Email : ccil@cordscable.com GIN : L74999DL1991 PLCO46092

Date: 24.06.2020

i	Asst. Vice President	Asst. General Manager
	National Stock Exchange of India Ltd.	Dept of Corp. Services,
	Exchange plaza, Bandra Kurla Complex BSE Limited
	Bandra (E)	PJ. Towers, Dalal Street, Fort,
	Mumbai - 400 051	Mumbai: 400001.me '
	Stock Code: CORDSCABLE	Stock Code: 532941

Subject: Outcome of Board Meeting h n June 27, 2020.

Dear Sir/ Madam,

In compliance with Regulation 33(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to: inform the exchanges that the Board of Directors in its 1924 meeting held on today ie. Saturday, June 27, 2020 at 12:00 noon at the Registered Office of the company has, inter alia approved the Audited Financial Results for the 4% quarter and financial year ended March 31, 2020 and took the same on record. Enclosed please find herewith the following: Works :

• i) Audited financial results for the 4" quarter and financial year ended March 31, 2020 accompanied by Cash Flow Statement;
• if} Statement of Assets and Liabilities for the half year ended March 31, 2020;
• ifi) Independent Auditors' Report.

Further, pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended from time to time, we hereby declare that, the Statutory Auditors of the Company, M/s Alok Misra & Co., Chartered Accountants, (Firm Registration No. 018734N/500138) have issued an Audit Report with unmodified opinion on the annual Audited Financial Results of the Company for the financial year ended March 31, 2020.

In terms of Regulation 47 of the Listing Regulations, the extracts of the financial results in the prescribed format shall be published on or before June 29, 2020 in Delhi & Mumbai edition of Financial Express English and Jansatta Hindi (Delhi).

(UNIT 1) : A525, E-518, 519, 520, industrial Area Chopanki, Bhiwadi, Distt. Alwar - 301707 (Rajasthan) Tel, No. ! +91-7230003177 (UNIT If) : SP-239, 240, 241, Industrial Area Kaharani, Bhiwadi, Distt. Alwar - 301019 (Rajasthan) Tel. 'No. : +91-7230003176

The full format of the financial results for the 4 Quarter/ Financial Year ended March 31, 2020 shall be available on the website of the Stock exchanges where equity shares of the Company are listed ie. www.nseindia.com and www.bseindia.ccom and on Company's website at http://www.cordscable.com.

The Board Meeting concluded at ALAS p.m.

You are requested to take the above on record and inform all those concerned.

Thanking You. Yours Faithfully, FOR CORDS CABLE INDUSTRIES LIMITED for Cord Cala fetentrios Ete,

wy Garima®antpany Secretary Company Secretary Encl. : as above

CORPS

Cords Cable Industries Limited

	CORPSCords Cable Industries LimitedRegistered Office: 94,1st Floor,Shambhu Dayal Bagh Marg,Near Okhla Industrial Area Phase-I1l, Old Ishwar Nagar,New Delhi-110020'Tel: 011-40551200 * Fax: 011-40551280/81 * E-mail: ccil@cordscable.comwebsite: www.cordscable.com * CIN: L74999DL1991PLC046092
	Statement of Standalone Audited Financial Results for the Quarter and Year Ended 31st March, 2020					(Amount!
SINo	Particulars			Quarter ended] Quarter ended Quarter ended	Year Ended] Previous year	Rs tn Lakhs}!
		31/03/2020)Un-audited}	31/12/2019]Un-audited	31/03/2019 Un-audited	31/03/2020)Audited	31/03/2019 Audited
I	Income from Operations Revenue from Operationsll [Other Income	9741.34	11313.65	1135643	42099.07:	4167459
iV	HE Total Income {1+11Expenses	37.589778.92	33.6211347.27	48.3511404,78	15,7542240,82	175.4241850,01)
	'Cost of Material consumedPurchases of Stock-in-Trade	7041.98:	8554.59	9181.13	32585.62	33720.82
	Changes in inventories of Finished goods, Work in Progress & Stock in TradeEmployees Benefit Expenses	312.37622.69	168.30647.93	-(£78.18)515.07	69.622349.60	(267.36)1862.47;
	Finance CostsDepreciation & Ammortisation Expense	664.25159.98	688.58158.36.	615.74146.05	2561.83661.33	2392.58567.35
	Other expensesTotal Expenses(IV}	874,869676.13	786.6911004.44	763.4311043,25	2928.4341156,13	2440.1840716.03
V_	Profit / (Loss) before exceptional items and tax (III - IV)VI Exceptional itemsVil Profit before tax (V- V1)	102.78:	342,82-	361.54	1084.69]:	1133.98
VIN	[Tax Expense(1)Current Tax	102.78(68,26)	342.82117,68.	361.54105.00	1084.69281.84	1133.98,361.34!
	(2) Deferred Tax Liability/(Assets)Total Tax Expenses	(303.99)(372.25)	15.68)133,35	28.04133.04	(263.91)17.93	398.56
	Profit for the period from continuing operations (VII-VII1}	475,03	209.47	228,50-	1066.76:	735.42
IXX	[Profit / (Loss} from discontinued operations		-	:	:
XlXI)	'Tax Expenses of discountinued operations Profit / (loss) from Discontinuing operations (after tax) (X-X1)			228.50		735.42
XIV_	XI Profit / (Loss) for the period (IX + XH}[Other comprehensive income	475.03	209.47		1066.76
	A. (i) Item that will not be reclassified to profit or lossRemeasurement of Gratuity Fund/Defined benefit liabilities(ii) Income tax relating to Item that will not be reclassified to profit or loss	:(17,62}	:0.31	3.44,	-(16.69)
	Deferred tax Assest/{Liability) on aboveNet balance of Actuarial Gain/ (Loss) transfer to Other Comprehensive Income	4.50(13.11)	-(0.09)0.22.	-(1.14)2.30	4.20(12.49)
	B. (i) Item that will be reclassified to profit or loss(ii) Income tax relating to Item that will be reclassified to profit or loss	"	:	::	--
	XV__ Total Comprehensive Income for the perlod (XI1I+XIV) comprising Profit / (Loss) andother comprehensive income for the period	461,92	209.69	230.80:	1054.27	(0.41);736.25
XVIXVII_	{Paid-up Equity Share Capital{Face value of Rs 10/- each}Earnings Per Share (for continuing operations)	1292.78	1292.78)	1292.78	1292,78	1292.78)
XVUI	(a} Basic(b)Diluted Earnings Per Share (for discontinuing operations)	3.573.57	1.621.62	1.791.79	8.168.16
XIX	(a) Basic{b) Diluted Earnings Per Share (for discontinuing and continuing operations}	:-	:	--	"-

Cords Cable Industries Limited

	Cords Cable Industries Limited
	Standalone Statement of Assets & Liabilities as at 31st March, 2020		Rs in Lakhs)
	Particulars	As at31/03/2020}Audited	31/03/2019!
I	ASSETS
	Non-Current Assets(a) Property, Plant and Equipment(b) Right of use Assets(c) Financial Assets	7161.9624-4158
	(i) Security DepositCurrent Assets	167.90
	(a) Inventories(b} Financial Assets{i) Investments	5967.2836.42
	(ii) Trade receivables(iii) Cash and Cash Equivalents(iv) Bank balances other than{iil) above	12060,.2717.03
	{c) Other Current AssetsTotal Assets	24.06.1312.67.6531526.22
n	EQUITY AND LIABILITIES
	Equity(a) Equity Share capital	1292.78
	(b) Other EquityLiabilities	12837.69
	Non-Current Liabilities(a) Financial Liabilities(i) Borrowings
	(b) Provisions(c} Deferred tax liabilities (Net)	1194.63146.79565.47
	(d) Other non-current liabilitiesCurrent Liabilities	1,87
	{a} Financial Liabilities(i) Borrowings(ii) Trade payables	6660.90
	(A}Totat outstanding dues of Micro Enterprises & Small Enterprises(B)Total outstanding dues of Creditors other than Micro Enterprises & Small Enterprises	135.777815.74
	(fii) Others(b} Provisions(c) Other current Habitities	621.9445,03207.61

Cords Cable Industries Limited

Year Ended31/03/2020]Audited1094.69
	Rs tn Lakhs)
	Year Ended31/03/2029]
661,3319,972561.03(16.69)
(135.20)4175.92
15,23(712.40)]304,86
736.534520.45313.30
13.55(402.61)135,20
(i180.52))
(469,72)(257335)	(2303.01)(1496.48)
(16.53)
17.03
The above audited standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors of the Company in their meeting held on 27th June, 2020,
The Company hereby declares that the auditors have issued audit report for standalone financial results with unmodified opinion for the Auanclal year ended Btst March 2020,
Figures oflast quarter are the balancing figures between audited figures In respect ofthe ful finaleal year and the published year to date fgures up to the third quarter of the current nanctal year,
2015 and Companies {Indian Accounting Standards) Amendment Rules, 2016 and in terms of SEBI(Listing Obligations and Disclosure Requirements) Regulations,2015
is measured at the present value of lease payments and Right of Use Assets has heen recognized at an amount euqual to the lease lability adjusted by the amount
current In pursuance financial to Section year 2039-20. 115BAA of The the deferred Income Tax Act, 1961 announced by the Government of India through Taxation Laws {Amendment} Act,2019, the Company has exercised lower tax option fromtax liability (net) has been re-measured as per lower tax rate and accordingly an amount of Rs 263.91 Lakhs has been reduced,
The activities Company's from April operations 2020, hence were impacted the Company in the month of March 2020, following natlonwide lock dawn announced by Government of India In view of COV] D-19, The Government has permited certaln
By order of the Board
For Cords Cable Industries UtdNaveen Sawhney(Managing Director)DIN: 00893704
	420707 (241.67)15.01(3043.07)!33.55The Financial Results have been audited by the Statutory Auditors as required under Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015,been prepared in accordance with Indian Accounting Standards(Ind AS) prescribed under Section 133 of the Companies Act,2013 read with rulo 3 of the Companies (Qndian116 "Leases' under modified retrospective approach without adjustment of comparatives for earlier perlods, The Standard is applied to contracts which exist on orpayments relating to that lease, Application of the standard resulted in net decrase in profit before tax of current financial year by Rs 27.78 Lakhs and decrease in

• vi) Accounting The standalone Standards) results have Rules been prepared in accordance with Indian Accounting Standards(Ind AS) prescribed under Section 133 of the Companies Act,2013 read with rulo 3 of the Companies (Qndian 2015 and Companies {Indian Accounting Standards) Amendment Rules, 2016 and in terms of SEBI(Listing Obligations and Disclosure Requirements) Regulations,2015
• vii) 'The after Company 1st April has 2019. adopted The Lease Ind AS Liability 116"Leases' under modified retrospective approach without adjustment of comparatives for earlier perlods, The Standard is applied to contracts which exist on or of any prepaid or accured is measured at the present value of lease payments and Right of Use Assets has heen recognized at an amount euqual to the lease lability adjusted by the amount retained earnings by Rs 280.72 tease Lakhs, payments relating to that lease, Application of the standard resulted in net decrase in profit before tax of current financial year by Rs 27.78 Lakhs and decrease in
• vill} current In pursuance financial to Section year 2039-20. 115BAA of The the deferred Income Tax Act, 1961 announced by the Government of India through Taxation Laws {Amendment} Act,2019, the Company has exercised lower tax option from tax liability (net) has been re-measured as per lower tax rate and accordingly an amount of Rs 263.91 Lakhs has been reduced, tx) The Company Is operating in a single segment as defined In ind AS-108, Hence segment reporting Is not applicable to the Company,

CORDS CORDS CABLE INDUSTRIES LTD.

REGD. OFFICE ; 94, 1st Floor, Shambhu Dayal Bagh Marg, Near Okhla Industrial Area Phase-ill, Old Ishwar Nagar, New Delhi - 110020 Tel ; +91-11-40551200 ; Fax ; +91-11-40551281 Website ; www.cordscable.com ; Email : ccil@cordscable.com CIN : L74899DL1991PL.Co46092

Date: .2.£.06.2020

Asst. Vice President	Asst. General Manager
National Stock Exchange of India Ltd.	Dept of Corp. Services,
Exchange plaza, Bandra Kurla Complex	BSE Limited
Bandra (E)	PJ. Towers, Dalal Street, Fort,
Mumbai - 400 051	'Mumbai: 400001.

Subject :_ Declaration on Audit Report with unmodified opinion(s)

Dear Sir,

Pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ("Listing Regulations") as amended, we hereby declare that M/s Alok Misra & Co. (FRN: 018734N), the Statutory Auditors of the company have issued an Audit Report with unmodified opinion with respect to the Audited Financial Results of the Company for the quarter and financial year ended March 31, 2020.

You are requested to take the above on record and inform all those concerned.

Thanking You.

Yours Faithfully, FOR GORDS/CABLE INDUSTRIES LIMITED

Naveen Sawhney

(Managing Director)

Works :

(UNIT A) 1) : A625, A-525, E-518, 1 519, , 520, ) Industrial Inde Area Cho panki, i, Bhiwadi, Bhiwadi, Di Distt. Alwar - 301707 (Rajasthan) Tel : - (Unit ii): SP-239, 240, 241, industrial Area Kaharani, Bhiwadi, Distt. Alwar - 301019 (Ageathan) Teh Nos sot7290008176

Alok Misra & Co. Tel: (0): 45631889

AD -13 LGF, Tagore Garden, New Dethi-110027 Website : www.caalokmisra.org Email: alok@caalokmisra.org caaiokmisra@gmail.com

Independent Auditors' Report

To the Members of Cords Cable Industries Limited

Report on the Audit of Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of Cords Cable Industries Limited ('the Company'), which comprise the Balance Sheet as at 31%March, 2020, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the 'Statement of Cash Flows for the year then ended, and a summary of the significant accounting policies and other explanatory information (hereinafter referred to as "Standalone Financial Statements')

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31" March 2020, and its profit (including other comprehensive income), its cash flows and the changes in equity for the year ended on that date

Basis for Opinion

We conducted our audit of the Standalone Financial Statements in accordance with the Standards on Auditing specified under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the 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 independence requirements that are relevant to our audit of the Standalone financial statements under the provisions of the Act and the Rules made there under, and we have fulflled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the audit evidence we have obtained js sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

Key Audit Matters

During our audit, we had not came across with any significant areas that require reporting under "Key Audit Matter' paragraph and hence we are not including the same in our audit report as per para (AS9) of SA 701

Information Other than the Standalone Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the preparation of the other information, The other information comprises the information included in the Management Discussion and Analysis, Board's Report including Annexure to Board's Report, Business Responsibility Report, Corporate Governance and Shareholder's Information, but does not include the standalone financial statements and our auditor's report thereon.

Our opinion on the standalone financial statements does not cover the other information and we do not 'express any form of assurance conclusion thereon.

{In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

Management's Responsibility for the Standalone 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 and presentation of these standalone Ind AS financial statements that give a true and fair view of the financial position, financial performance (including other comprehensive income), cash flows and changes in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards prescribed under Section 133 of the Act read with rule 3of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) amendment Rules, 2016.

This responsibility 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 irregularities, selection and application of appropriate 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 standalone Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility for the 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 matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

We conducted our audit of the Standalone financial statements in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform thé audit to obtain reasonable assurance about whether the standalone Financial Statements are free from material misstatement

'An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the standalone financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the Standalone financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Board of Directors, as well as evaluating the overall presentation of the standalone financial statements.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143 (3) of the Act, we report that:

• (a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.
• (b) in our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
• (c) The Balance Sheet, the Statement of Profit and Loss (including other comprehensive income), the Cash Flow Statement and the Statement of changes in Equity dealt with by this Report are in agreement with the relevant books of account.
• (d) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards specified under Section 133 of the Act, read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) amendment Rules, 2016.
• (e) On the basis of the written representations received from the directors as on 31 March 2020 taken 'on record by the Board of Directors, none of the directors is disqualified as on 31 March 2020 from being appointed as a director in terms of Section 164 (2) of the Act.
• (f) With respect to the adequacy of the intemal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure Il" and
• (g) With respect to the other matters to be included in the Auditor's Report in accordance with the requirements of section 197(16) of the Act, as amended: In our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act.
• (h) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014,as amended, in our opinion and to the best of Our information and according to the explanations given to us:
  • i. The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements,
  • ii, The Company did not have any long term contracts including derivatives contracts for which there were any material foreseeable losses.
  • ili, There has been no delay in transferring-amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.
• 1. As required by the Companies (Auditor's Report) Order, 2016 ("the Order'), issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Act, we give in the "Annexure '", a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable,

For Alok Misra & Co. Accountants Registration No: 218734N

dner, M.No: 500138

(UDIN: 205001 38AAAACG8402 )

Place: New Dethi Date: 27" June, 2020

Page 3 of 7

Annexure Independent | to Auditors' Report

(Referred to in paragraph 2 under 'Report on Other Legal and Regulatory Requirements' section of our report of even date)

• In respect of the Company's fixed assets:
• (a) The Company has maintained proper records showing full particulars, including 'Quantitative details and situation of the fixed assets.
• (b) The fixed assets have been physically verified by the management at the reasonable intervals, which in our opinion, is considered reasonable having regard to the size of the company and the nature of its assets, No material discrepancies were noticed on such verification.
• (c) In our opinion and according to information and explanations given to us and on the basis of an examination of the records of the Company, the title deeds of immovable properties are held in the name of the Company.
• The inventory includes finished goods, raw material and work in progress along with inventory of consumables and packing material. Physical verification of inventory has been conducted at reasonable intervals by the management and discrepancies noticed which were not material in nature have been properly dealt with in the books of accounts,
• ili. 'The Company has not granted loans (secured or unsecured) to companies covered in the register maintained under Section 189 of the Act. Accordingly, paragraph (ii) of the order is not applicable.
• In our opinion and according to information and explanations given to us, the Company has 'complied with provisions of Section 185 and 186 of the Act in respect of loans, investments, guarantees, and security.
• in our opinion and according to the information and explanations given to us, the Company has not accepted deposits, in respect of which, directives issued by the Reserve Bank of India and the provisions of Section 73 to 76 or any other relevant provisions of the Companies Act 2013 and rules framed there under, are not applicable on the company. No order had been passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any other tribunal.
• We have broadly reviewed the books of accounts maintained by the Company pursuant to the Rules made by the Central Government for the maintenance of Cost Records under section 148 of the Act, and are of opinion that prima facie, the prescribed accounts and records have been made and maintained, however, we have not made the detailed examination of such cost records,
• vil.(a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, provident fund, employees' state insurance, income tax, sales tax, service tax, value added tax, duty of customs, duty of excise, cess, gst and other applicable material undisputed statutory dues have been deposited regularly during the year with the appropriate authorities and there are no arrears of outstanding statutory dues as at the last day of the financial year concemed i.e. 31" March, 2020, for @ period of more than six months from the date they became payable. Page 4 of 7
  • (b) 'According to the information and explanations given to us, there are no dues of income tax, sales tax, service tax, duty of customs, duty of excise, value added tax, GST or other applicable material statutory dues which have not been deposited as on March 31, 2020 on account of any dispute except the followings:~

NameStatute	of		the Nature of dues	AmountinINR](Lacs)	Periodwhichamountrelates	to Forum wherethe dispute is pending
-----------------	----	--	----------------------	--------------------------------	--------------------------------------	----------------------------------------------

ExciseCentralAct, 1944	Duties[Excise&Services Tax
	Service TaxLess: Already Deposit (-)6.60	33.75	20122014 Case pendingbefore the CESTAT,New Dethi

• viii. In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of dues to banks, financial institutions and debenture holders as at the Balance Sheet date.
• According to the information and explanations given to us, the term loans were generally applied for the purpose for which those are raised. The Company has not raised money by way of initial public offer or further public offer (including debt instruments) during the year.
• According to the information and explanations given to us, no material fraud by the Company or on the Company by ifs officers or employees has been noticed or reported during the course of our audit.
• xi. According to the information and explanations given to us and based on our examination of the records of the Company, the Company has paid/provided for managerial remuneration in accordance with the requisite approvals mandated by the provisions of Section 197 read with Schedule V to the Act.
• oti, 'According to the information and explanations given to us, the Company is not a Nidhi Company as prescribed under Section 406 of the Act. Accordingly, paragraph 3(xil) of the Order is not applicable to the Company,
• xiii. According to the information and explanations given to us, all transactions with the related parties are in compliance with Section 177 and 188 of Act, where applicable and the details of related party transactions have been disclosed in the Standalone Ind AS Financial Statements as required by the applicable accounting standards.
• xiv. 'According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.
• According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into non-cash transactions with directors or persons connected with him. Accordingly, paragraph 3(xv) of the Order is not applicable,
• According to information and explanations given to us, the Company is not required to be registered under Section 45 1A of the Reserve Bank of india Act, 1934.

For Alok Misra & Co. Chartered Accountants Firm's Registration No: 018734N

CA./Alok Misra

M.No: 500138 }: 205001 38AAAACGB402 )

Place: New Delhi Date: 27" June, 2020

Page 5 of 7

AM . t Auditors" R

(Referred to in paragraph 4 (f) under 'Report on Other Legal and Regulatory Requirements' section of our report of even date)

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial contro!s over financial reporting of Cords Cable Industries Limited as at 31st March, 2020 in conjunction with our audit of the Standalone Financial Statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of india ("ICAI") These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financial controls over financial Teporting based on our auidit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") and the Standards on Auditing, issued by ICAI and deemed to be prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls, Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effeetively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the intemal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for 'our audit opinion on the Company's internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

ACompany's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A 'Company's internal financial control over financial reporting includes those policies and procedures that:

• {a) Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;
• (b) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and
• (c) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the intemal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, to the best of our information and according to the explanations given to us , the Company has, in all material respects, an adequate internal financial controls system over financial reporting but requires more strengthening and such internal financial controls over financial reporting were operating effectively during the period ended 31% March 2020 . based on the internal control over financial reporting criteria established by the Company consisting the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

For Alok Misra & Co, Chartered Accountants Firm's Registration No: 018734N

Alok FM.No: Misra 500138 Place: New Dethi i: 2050013BAAAACGB402 ) Date: 27" June, 2020