GPT Infraprojects limited — Audit Report / Information 2021

Jun 21, 2021

ANATHA

BANDHABA

CHAKRABARTTY

Digitally signed by ANATHA BANDHABA CHAKRABARTTY Date: 2021.06.21 16:31:24 +05'30'

GPT Infraprojects Limited CIN:L20103WB1980PLC032872

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ANNEXURE – I

Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted along with Standalone Annual Audited Financial Results

Statement on Impact of Audit Qualifications for the Financial Year ended March 31,2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31,2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31,2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31,2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31,2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31,2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]
I.		Sl. No.	Particulars	Audited Figures (as reported before adjusting for qualifications) (Rs. in lacs)	Adjusted Figures (audited figures after adjusting for qualifications) (Rs. in lacs)
		1.	Turnover / Total Income	58,198.99	58,198.99
		2.	TotalExpenditure	55,235.70	55,235.70
		3.	Net Profit after Taxes	2,057.33	2,057.33
		4.	EarningsPerShare	7.07	7.07
		5.	Total Assets	66,556.10	66,556.10
		6.	Total Liabilities (excluding Net worth)	45,766.20	45,766.20
		7.	Net Worth	20,789.90	20,789.90
		8.	Any other financial item(s) (as felt appropriate by the management)	-	-
II.		**Audit Qualification (each audit qualification separately): **
		a. Details of Audit Qualification: The statutory auditors have provided following qualification in their standalone audit report – The Company has recognized unbilled revenue, accrued price escalations and trade receivables aggregating Rs. 2,079.44 lacs, on certain completed construction contracts, which are yet to be billed/ realized by the Company and are outstanding for more than 3 years. Due to unavailability of sufficient appropriate audit evidence to corroborate management’s assessment of recoverability of the above said amounts, we are unable to comment on the recoverability of the same. No provision with respect to the same has been made in the books of account. Note 6 of the standalone financial results states the following — In earlier years, the Company has completed execution of certain construction contracts under the terms of agreements with customers. Unbilled revenue, accrued price escalation and trade receivables aggregating Rs. 2,079.44 lacs (March 31, 2020 : Rs. 2,535.13 lacs) are yet to be received by the Company in respect of such contracts due to paucity of funds available with those customers. The statutory auditors of the Company have modified their audit report in this regard. Based on regular follow ups with those customers, management is confident that the aforesaid amount is fully recoverable.
		b. Type of Audit Qualification :Qualified Opinion
		c. Frequency of qualification: Qualificationis continuing since audit for the year ended March 31, 2015.

Digitally signed Puneet Agarwal Digitally signed by Puneet Agarwal Date: 2021.06.21 15:33:57 +05'30' SANJAY KUMAR KHETAN Digitally signed by SANJAY KUMAR KHETAN Date: 2021.06.21 15:50:51 +05'30' KASHI PRASAD KHANDELWAL by KASHI PRASAD KHANDELWAL Date: 2021.06.21 15:20:09 +05'30' ATUL TANTIA Digitally signed by ATUL TANTIA Date: 2021.06.21 15:21:20 +05'30' SHREE GOPAL TANTIA Digitally signed by SHREE GOPAL TANTIA Date: 2021.06.21 15:22:51 +05'30'

GPT Infraprojects Limited CIN:L20103WB1980PLC032872

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• d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views

Impact not quantified by the auditors.

e. For Audit Qualification(s) where the impact is not quantified by the auditor:

(i) Management’s estimation on the impact of audit qualification:

With regard to the qualifications by the Auditors in their Audit Report on the standalone financial results for outstanding unbilled revenue, accrued price escalations and trade receivables on certain completed construction contracts, the management of the Company is confident that the outstanding amount is fully recoverable and delays in realization is mainly due to paucity of funds with the customers.

• (ii) If management is unable to estimate the impact, reasons for the same: Not Applicable

	d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views Impact not quantified by the auditors.	d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views Impact not quantified by the auditors.	d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views Impact not quantified by the auditors.
	e. For Audit Qualification(s) where the impact is not quantified by the auditor:
	(i) Management’s estimation on the impact of audit qualification: With regard to the qualifications by the Auditors in their Audit Report on the standalone financial results for outstanding unbilled revenue, accrued price escalations and trade receivables on certain completed construction contracts, the management of the Company is confident that the outstanding amount is fully recoverable and delays in realization is mainly due to paucity of funds with the customers.
	(ii) If management is unable to estimate the impact, reasons for the same: Not Applicable
		(iii) Auditors’ Comments on (i) or (ii) above. Refer details of audit qualification [para II (a) above]
III.		**Signatories: **
		Mr. S. G. Tantia, Managing Director	SHREE GOPAL TANTIA Digitally signed by SHREE GOPAL TANTIA Date: 2021.06.21 15:23:04 +05'30'
		Mr. Atul Tantia, Executive Director &CFO	ATUL TANTIA Digitally signed by ATUL TANTIA Date: 2021.06.21 15:21:04 +05'30'
		Mr. K.P.Khandelwal, Chairman- Audit Committee	KASHI PRASAD KHANDELW AL Digitally signed by KASHI PRASAD KHANDELWAL Date: 2021.06.21 15:20:24 +05'30'
		Statutory Auditors Mr.Puneet Agarwal Partner Membership Number: 064824 For MSKA & Associates Chartered Accountants ICAI Firm Registration Number: 105047W UDIN:21064824AAAABR7843	Puneet Agarwal Digitally signed by Puneet Agarwal Date: 2021.06.21 15:35:06 +05'30'
		Mr. Sanjay Kumar Khetan Partner Membership No.: 058510 For SN Khetan& Associates Chartered Accountants ICAI Firm registration number: 325653E UDIN:21058510AAAABY6066	SANJAY KUMAR KHETA N Digitally signed by SANJAY KUMAR KHETAN Date: 2021.06.21 15:51:10 +05'30'
		Place : Kolkata
		Date :June 21, 2021

GPT Infraprojects Limited CIN:L20103WB1980PLC032872

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ANNEXURE – I

Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted along with Consolidated Annual Audited Financial Results

Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]

Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]	Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2021 [See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]
I.	Sl. No.	Particulars	Audited Figures (as reported before adjusting for qualifications) (Rs. in lacs)	Adjusted Figures (audited figures after adjusting for qualifications) (Rs. in lacs)
	1.	Turnover / Total Income	61,523.90	61,523.90
	2.	Total Expenditure	58,545.55	58,545.55
	3.	Net Profit / (Loss)after tax	2,021.60	2,021.60
	4.	Earnings Per Share	6.95	6.95
	5.	Total Assets	72,372.80	72,372.80
	6.	Total Liabilities(excluding Net worth)	48,115.76	48,115.76
	7.	Net Worth(including minority interest)	24,257.04	24,257.04
	8.	Any other financial item(s) (as felt appropriate bythe management)	-	-
II.	Audit Qualification (each audit qualification separately) : a. Details of Audit Qualification: The statutory auditors have provided following qualification in their audit report – The Holding Company has recognized unbilled revenue, accrued price escalations and trade receivables aggregating Rs. 2,079.44 lacs, on certain completed construction contracts, which are yet to be billed / realized by the Holding Company and are outstanding for more than 3 years. Due to unavailability of sufficient appropriate audit evidence to corroborate management’s assessment of recoverability of the above said amounts, we are unable to comment on the recoverability of the same. No provision with respect to the same has been made in the books of account. Note 6 of the consolidated financial results states the following — In earlier years, the Group has completed execution of certain construction contracts under the terms of agreements with customers. Unbilled revenue accrued price escalation and trade receivables aggregating Rs. 2,079.44lacs (March 31, 2020:Rs.2,535.13 lacs) are yet to be received by the Company in respect of such contracts due to paucity of funds available with those customers. The statutory auditors of the Company have modified their audit report in this regard. Based on regular follow ups with those customers, management is confident that the aforesaid amount is fully recoverable.
	b. Type of Audit Qualification :Qualified Opinion
	c. Frequency of qualification: Qualification is continuing since audit for the year ended March 31, 2015.

Puneet Digitally signed by Puneet Agarwal Date: 2021.06.21 SANJAY KUMAR Digitally signed by SANJAY KUMAR KHETAN Date: 2021.06.21 KASHI PRASAD KHANDELWAL Digitally signed by KASHI PRASAD KHANDELWAL Date: 2021.06.21 15:19:30 +05'30' ATUL TANTIA Digitally signed by ATUL TANTIA Date: 2021.06.21 15:21:49 +05'30' SHREE GOPAL TANTIA Digitally signed by SHREE GOPAL TANTIA Date: 2021.06.21 15:22:23 +05'30' Agarwal 15:37:26 +05'30' KHETAN 15:49:50 +05'30'

GPT Infraprojects Limited CIN:L20103WB1980PLC032872

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• d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views

• Impact not quantified by the auditors. e. For Audit Qualification(s) where the impact is not quantified by the auditor :

	d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views Impact not quantified by the auditors.	d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views Impact not quantified by the auditors.	d. For Audit Qualification(s) where the impact is quantified by the auditor, Management’s Views Impact not quantified by the auditors.
	e. For Audit Qualification(s) where the impact is not quantified by the auditor :
		(i) Management’s estimation on the impact of audit qualification: With regard to the qualifications by the Auditors in their Audit Report on the consolidated financial results for outstanding unbilled revenue,accrued price escalations and trade receivables on certain completed construction contracts, the management of the Company is confident that the outstanding amount is fully recoverable and delays in realization is mainly due to paucity of funds with the customers.
		(ii) If management is unable to estimate the impact, reasons for the same: Not Applicable
		(iii) Auditors’ Comments on (i) or (ii) above. Refer details of audit qualification [para II (a) above]
III.		Signatories:
		Mr. S. G. Tantia, Managing Director	SHREE GOPAL TANTIA Digitally signed by SHREE GOPAL TANTIA Date: 2021.06.21 15:22:39 +05'30'
		Mr. Atul Tantia, Executive Director & CFO	ATUL TANTIA Digitally signed by ATUL TANTIA Date: 2021.06.21 15:21:35 +05'30'
		Mr. K.P.Khandelwal,-Chairman-Audit Committee	KASHI PRASAD KHANDELWAL Digitally signed by KASHI PRASAD KHANDELWAL Date: 2021.06.21 15:19:50 +05'30'
		Statutory Auditors:- Mr.Puneet Agarwal Partner Membership Number: 064824 For MSKA & Associates Chartered Accountants ICAI Firm Registration Number: 105047W UDIN:21064824AAAABS2152	Puneet Agarwal Digitally signed by Puneet Agarwal Date: 2021.06.21 15:38:39 +05'30'
		Mr. Sanjay Kumar Khetan Partner Membership No.: 058510 For SN Khetan& Associates Chartered Accountants ICAI Firm registration number: 325653E UDIN:21058510AAAABZ1761	SANJAY KUMAR KHETAN Digitally signed by SANJAY KUMAR KHETAN Date: 2021.06.21 15:50:14 +05'30'
		Place :Kolkata
		Date :June 21,2021