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KNR Constructions Limited Interim / Quarterly Report 2021

Aug 12, 2021

61868_rns_2021-08-12_26232eae-27f5-41d2-840c-b6feb082f5f6.pdf

Interim / Quarterly Report

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1.2th

Date: Au t 2021 KNRCL/SD/2021 298&;,299

To, The Manager BSE Limited, P J Towers, Dalal Street, Fort, Mumbai - 400001 National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. Scrip Code: KNRCON

Dear Sir/Madam,

Sub: Outcome of Board Meeting Ref: Regulation 30 & 33 of SEBI (LODR) Regulations,2015

We refer to the above captioned subjecf we herewith intimate to the Exchanges that the Board of Directors of the Company at their meeting held on Thursday, L2th Augus t 2021, has considered and approved:

  • a) Unaudited financial results (standalone and consolidated) for the quarter ended 30*, June202'l' along with the Limited Review Report for the said period thereon. (enclosed herewith)
  • b) Draft Notice of 26tt' Arurual General Meeting of the members of the Company scheduled to be held on Wednesday,2gtn September 2027 at03.00 PM through Video Conferencing or Other Audio Visual Means.
  • c) Draft Directors' Report for the year ended 31't March 2027 alongwith the annexures thereto, Corporate Governance Report and Management Discussion and Analysis Report.
  • Appointed Mr. Vikas Sirohiya, (Membership No. 15116 CP No. 5246), Practicing Company Secretary as Scrutinizer to conduct the process of e-voting for the 2(tt Annual General Meeting in a fair and transparent manner. d)
  • Fixed the record date for payment of dividend as 22"a September 2021 and book closure dates from 23rd September 2021 to 29th September 2021 (both days inclusive). e)

Regd.Office : 'KNR House',3rd & 4th Floor, ttot ruo.tt+,Phase-l,Kavuri Hills, Hyderabad -500 033 Phone.:+91-40-40268759 ,402687611 62, Fax : 0410- 40268760,E-mail : [email protected],Web : www.knrct.com CIN .:17421 OTG1 995PLC1 301 99

0 Re-constifution of Nomination and Remuneration Committee as under:

Committee Composition (post re-constitution)
Nomination and Shri L B Reddy (lndependent Director) - Chai.man
Remuneration Shri B V Rama Rao (lndependent Director) - Member
Committee Smt. G Chandra Rekha (lndependent Director) - Member

Kindly note that the meeting was conunenced at 12.30PM and conclucied at 03.25 pM

This is for the information and records of the Exchange, please.

Thanking you, Yours truly For KNR Constructions

(Encl. as above)

Regd.Office : 'KNR House',3rd & 4th Floor, ftot tto.tt+,Phase-l,Kavuri Hills, Hyderabad -500 033 Phone.:+91-40-40268759 ,402687611 62, Fax : 04]0- 40268760,E-mail : [email protected],Web : www.knrcl.com CIN .:17421 OTG1 995PLC1 301 99

KNR CONSTRUCTIONS LIMITED

CIN: L74210TG1995PLC130199

Regd. Office: KNR House, 3rd & 4th Floor, Plot No: 114, Phase-I, Kavuri Hills, Hyderabad - 500 033
Ph: 040 -40268759 /61 /62 Fax: 040-40268760; website: knrcl.com; E-mail: [email protected]

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021

SI. (Rupees In Lakhs, except share data)
Quarter ended		 Year ended
No. PARTICULARS June 30 March 31 June 30 March 31
2021 2021 2020 2021
1. Unaudited Audited Unaudited Audited
2. Revenue from Operations (Refer note : 5)
Other Income		 73,997.94 93,578.90 47,936.83 270.262.93
480.48 937.70 610.17 4,964.60
3. Total income $(1+2)$ 74,478.42 94,516.60 48,547.00 275,227.53
4. Expenses
a) Cost of materials consumed 32,923.64 33,205.67
b) Sub contract Expenses 2,252.60 8,699.08 18,985.40 92,645.30
c) Spreading & Assortment Expenses 14,868.42 18,867.70 4,098.07 18,880.74
d) Employee benefits expense 3,350.38 3,483.47 8,417.70 62,116.89
e) Finance Costs 789.52 431.75 2,776.21 13,209.14
Depreciation and amortization expense
f		 2,693.47 1,021.41 4,872.73
g) Other expenses 6,272.99 3,877.31 3,309.48 14,437.48
11,103.98 4,226.05 29,827.24
Total Expenses (a to g) 63,151.02 79,668.96 42,834.32 235,989.52
5. Profit / (loss) before exceptional items and tax (3 - 4) 11,327.40 14,847.64 5,712.68 39,238.01
6. Exceptional Items (Refer note: 4)
7. Profit / (loss) before tax $(5 - 6)$ 11,327.40 14,847.64 1,124.70
5,712.68 38,113.31
8. Tax Expense
Current Tax 3,147.70 6,172.42 2,206.19
Tax relating to earlier years 0.56 1,931.08 14,004.01
Deferred Tax 878.18 (953.43) (472.46) 1,931.08
Total Tax Expense 4,026.44 7,150.07 (2, 239.43)
9. Net Profit/(Loss) after tax (7 - 8) 7,300.96 7,697.57 1,733.73
3,978.95		 13,695.66
24,417.65
10. Other Comprehensive Income (OCI) [Net of tax] (6.71) 5.43 (9.59) (23.34)
11. Total Comprehensive Income (9+10) 7,294.25 7,703.00 3,969.36 24,394.31
12. Paid up equity share capital (Face Value Rs.2/- per share) 5,624.70 5,624.70 2,812.35 5,624.70
13. Other Equity 181, 158.45
14. Earnings Per Share (EPS) (Refer note : 6)
a. Basic EPS Rs. $2.60*$ $2.74*$
b. Diluted EPS Rs. $2.60*$ $2.74*$ $1.41*$ 8.68
* Not annualised $1.41*$ 8.68

Notes:

  1. The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on August 12, 2021.

  2. The above results are in compliance with the Indian Accounting Standards (IND AS) specified under the section 133 of the Companies Act, 2013 read
    with SEBI circular No.CIR/CFD/FAC/62/2016 dated July 5, 2016 & amendments auditors of the Company.

  3. The standalone figures for the quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 and unaudited published year to date standalone figures up to nine months ended December 31, 2020

  4. For the year ended March 31, 2021, the Company has transferred its 100% share holding in one of its subsidiary i.e. KNR Walayar Tollways Pvt Ltd., (KWTPL) to CUBE Highways and Infrastructure III pte.ltd on 28-09-2020 fo

  5. For the year ended March 31, 2021, the Company has received an arbitration settlement in one of the Joint Venture project, the Company's share of revenue of Rs 1,202.00 lakhs and Company's share of profit of Rs 785.62 l

  6. For the quarter and year ended March 31, 2021, the Company has issued Bonus Shares in the ratio of 1:1 on 5th February 2021, with that the standalone EPS for the previous quarters/years also adjusted accordingly.

The Company is primarily engaged in "Construction and Engineering activities" and there are no other reportable segments under Ind As 108 $\overline{z}$ "Operating Segments".

  1. As per the management assessment on the Impact of second wave of Covid-19 pandemic on the business operations of the Company, there is no forceasble impact on the achievement of targeted top line and cash flow of the Co

  2. Figures for the previous year/period have been regrouped/re-classified to confirm to the figures of the current period.

For KNR Constructions Ltd.,
HYD
Place: Hyderabad K.Narsimha Reddy
Date: 12-08-2021 Managing Director
DIN: 00382412

K. P. RAO K VISWANATH DESMOND J. REBELLO H.N. ANIL MOHAN R LAVI

K.P. SIDDHARTH V. NARAYANAN S. PRASHANTH P. RAVINDRANATH

'Poornima', IInd Floor, 25, State Bank Road, Bangalore - 560 001. Karnataka, India.

Phone : 080 - 25587385 / 25586814 Fax $.080 - 25594661$ E-mail : [email protected]

FRN: 003139

$D$ $\triangle$ C

Independent Auditor's Limited Review report on the Quarterly Unaudited Standalone Financial Results of KNR Constructions Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors of KNR Constructions Limited Hyderabad.

    1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of KNR Constructions Limited (the "Company"), which includes 16 joint operations consolidated on a proportionate basis for the quarter ended 30th June, 2021 ("the statement") being submitted by the Company pursuant to the requirements of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
    1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Our responsibility is to express a conclusion on the Statement based on our review.
    1. We conducted our review of the Statement in accordance with the Standard on Review Engagements ("SRE") 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India ("ICAI"). A review of interim financial information consists of making inquiries, primarily of the Company's personal ed responsible for financial and accounting matters, and applying analytical and BANGALORE

Branches

Hyderabad: 3rd Floor, D1, 6-3-652, Kautilya, Somajiguda, Hyderabad - 500 082. Ph.: 040-23322310 Mysore: 74, 2nd Main, First Stage, Vijayanagar, Mysore - 570 017. Ph.: 0821-2517971 Chennai : Flat 2-A, Second Floor, Shruthi 3/7, 8th Cross Street, Shastrinagar, Adayar, Chennai - 600 020. Ph.: 044- 24903137 / 45511564

other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

    1. The Statement includes the interim financial information of the joint operations listed in Attachment A.
    1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors as referred in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing 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.

6. Emphasis of Matter

We draw attention to Note No.8 to the Standalone Financial results, which describes the management's assessment of uncertainties related to COVID-19 and its consequential financial impact on operations of the Company. Our conclusion is not modified in respect of this matter.

  1. We did not review the interim financial information of 11 joint operations included in the Statement whose financial information reflect total revenue (before consolidation adjustments) of Rs. 21,513.63 Lakhs and total profit/(loss) after tax (before consolidation adjustments) of Rs. (34.64) Lakhs for the quarter ended June 30, 2021 as considered in this Statement. The interim financial information of these joint operations have been reviewed by the other auditors whose reports have been furnished to us by the Management of the Company, and our conclusion in so far as it relates to the amounts and disclosures included

in respect of these joint operations, is based solely on the report of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of this matter.

  1. We did not review the interim financial information of 5 joint operations included in the Statement whose financial information reflect total revenues (before consolidation adjustments) of Rs. Nil and total net profit/(loss) after tax (before consolidation adjustments) of Rs (0.91) Lakhs for the quarter ended June 30, 2021, as considered in thin this statement. The interim financial information of these joint operations have not been reviewed by their auditors and whose interim financial information have been furnished to us by the Management of the Company, and our conclusion in so far as it relates to the amounts and disclosures included in respect of this joint operations, is based solely on such on such interim financial information certified by the Management of the Company. According to the information and explanations given to us by the Management, this interim financial information are not material to the Company.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Parent's Management.

For K.P. Rao & Co.. Chartered Accountants FRN No: 003135S UDIN: 21029340AAAAFE2155

RAO & BANGALORE FRN: 0031355 PED ACCO

Mohan R Lavi Partner Membership Number: 029340

Place: Bangalore Date: 12th August 2021

Continuation Sheet.....

ATTACHMENT-A

Joint Operations - Reviewed by other Auditors
$\mathbf{1}$ Patel KNR-JV
$\overline{2}$ KNR BPL-JV
$\overline{3}$ KNR Patel-JV
$\overline{4}$ KNR JKM- JV
5 KNR PBEPL-JV
6 KNR SEW GVR-JV
$\overline{7}$ BSCPL KNRCL-JV
8 KNR HES ACPL-JV
9 KNR SLMI JV
10 PSK-KNR- GVR-JV
11 KNR-NAVAYUGA-NCC-JV
Joint Operations- not reviewed by other Auditors
$\mathbf{1}$ KNR SLEC-JV
$\overline{2}$ KNR GVR-JV
$\overline{3}$ KNR JKM Kamala-JV
$\overline{4}$ KNR TBPCL-JV
5 KNR-HES-JV

KNR CONSTRUCTIONS LIMITED

NIVE UNIT (1995) - 1991 - 1992
Regd. Office: KNR House, 3rd & 4th Floor, Plot No: 114, Phase-1, Kavuri Hills, Hyderabad - 500 033
Ph: 040 -40268759 /61 /62 Fax: 040-40268760; website: knrcl.com; E-mail: [email protected]

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021

(Rupees In Lakhs, except share data)
SI. Quarter ended Year ended
No. PARTICULARS June 30
2021		 March 31 June 30 March 31
Unaudited 2021 2020 2021
1. Revenue from Operations (Refer note: 5) Audited Unaudited Audited
2. Other Income 80,709.10 99,051.55 52,252.59 290, 363, 48
500.17 991.97 699.30 5.162.14
3. Total income $(1+2)$ 81,209.27 100,043.52 52,951.89 295,525.62
4. Expenses
a) Cost of materials consumed 32.923.64 33,205.67 18,985.40
b) Sub contract Expenses 2,252.60 8,699.08 92.645.30
c) Construction cost 412.81 563.92 4,098.07 18,880.74
d) Spreading & Assortment Expenses 14.877.96 18,879.52 225.24 1.202.73
e) Employee benefits expense 3.363.75 3,495.62 8,424.47 62.169.20
f) Finance Costs 3.030.72 2,671.32 2,814.44 13.313.26
g) Depreciation and amortization expense 3,433.91 4,610.82 2,917.83 13.404.93
h) Other expenses 6,606.74 4,860.44 18.990.47
Total Expenses (a to h) 66,902.13 12,041.67 4,697.10 32,208.05
5. Profit / (loss) before exceptional items and tax (3 - 4) 14,307.14 84,167.62
15,875.90		 47,022.99 252,814.68
6. Exceptional Items (Refer note : 4) 5,928.90 42,710.94
7. Profit / (loss) before tax (5 - 6) (8, 525.20)
14,307.14 15,875.90 5,928.90 51,236.14
8. Tax Expense
Current Tax 3.147.70
Tax relating to earlier years 6.172.42 2.206.19 14.004.01
Deferred Tax 0.56 1,931.08 1,931.08
Total Tax Expense 878.18 (953.43) (472.46) (2, 239.43)
9. Net Profit/(Loss) after tax (7 - 8) 4,026.44 7,150.07 1,733.73 13,695.66
10,280.70 8,725.83 4,195.17 37,540.48
10. Share of profit / (loss) of associates and ioint Controlled Entity 520.99 743.51 (10.49) 742.82
11. Net Profit/(Loss) after tax and share of profit / (loss) of 10,801.69 9,469.34 4,184.68 38,283.30
associates and joint controlled entity $(9 + 10)$
Attributable to:
Shareholders of the Company 11,242.90 10,474.58 4,668.43
Non-Controlling Interest (441.21) (1,005.24) 40.738.05
(483.75) (2, 454, 75)
12. Other Comprehensive Income (OCI) [Net of tax] (6.71) 5.69 (9.59) (23.27)
13. Total Comprehensive Income (11+12)
10,794.98 9,475.03 4,175.09 38,260.03
Attributable to:
Shareholders of the Company
Non-Controlling Interest 11,236.19 10,480.27 4,658.84 40.714.78
(441.21) (1.005.24) (483.75) (2.454.75)
14. Paid up equity share capital (Face Value Rs.2/- per share)
15. Other Equity 5.624.70 5.624.70 2.812.35 5.624.70
190,306.67
16. Earnings Per Share (EPS) (Refer note : 6)
a. Basic EPS Rs. 4.00 $3.72*$
b. Diluted EPS Rs. 4.00 $3.72*$ $1.66*$ 14.49
* Not annualised $1.66*$ 14.49

Notes:

  1. The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on August 12, 2021.

  2. The above consolidated results are in compliance with the Indian Accounting Standards (IND AS) specified under the section 133 of the Companies
    Act, 2013 read with SEBI circular No.CIR/CFD/FAC/62/2016 dated July 5, 2016 by the statutory auditors of the Company.

  3. The consolidated figures for the quarter ended March 31, 2021 are the balancing figures between the audited figures in respect of the full financial year ended March 31, 2021 and unaudited published year to date consolidated figures up to nine months ended December 31, 2020

For the year ended March 31, 2021, the Company has transferred its 100% share holding in one of its subsidiary i.e. KNR Walayar Tollways Pvt Ltd. $\Delta$ For the year ended March 31, 2021, the Company has transferred its 100% share holding in one of its subsidiary i.e. KNR Walayar Tollways Pvt Ltd., (KWTPL) to CUBE Highlways and Infrastructure III pte. Its observed in the s statement of Consolidated Profit and Loss.

  1. For the year ended March 31, 2021, the Company has received an arbitration settlement in one of the Joint Venture project, the Company's share of revenue of Rs 1,202.00 lakhs and Company's share of profit of Rs 785.62 lakhs included in statement of consolidated Profit and Loss

  2. For the quarter and year ended March 31, 2021, the Company has issued Bonus Shares in the ratio of 1:1 on 5th February 2021, with that the consolidated EPS for the previous quarters/years also adjusted accordingly

  3. The Group is primarily engaged in "Construction and Engineering activities" and there are no other reportable segments under Ind As 108 "Operating Segments".

  4. As per the management assessment on the Impact of second wave of Covid-19 pandemic on the business operations of the Group, there is no As per the inangement assessment on the impact of second wave of covid-15 paintering on the business operations of the strong, there is no
    forceasble impact on the achievement of targeted top line and cash flow of the Grou De Carried on during lockdown ensuring innow or runds from onis raised. The strong liquid position as on Jun Ju, zozz and under durization or
    fund/non fund based credit facilities will act as a buffer fund. The Group will

  5. Figures for the previous year/period have been regrouped/re-classified to confirm to the figures of the current period.

For KNR Constructions Ltd., UCT Wireddy $\overline{C}$ K.Narsimha Reddy $\Omega$ $\star$

Place: Hyderabad Date: 12-08-2021

Managing Director DIN: 00382412

K. P. RAO K. VISWANATH DESMOND J. REBELLO H.N. ANIL MOHAN R LAVI

K.P. SIDDHARTH V. NARAYANAN S. PRASHANTH P. RAVINDRANATH

'Poornima', IInd Floor, 25, State Bank Road. Bangalore - 560 001. Karnataka. India.

Phone : 080 - 25587385 / 25586814 Fax 080 - 25594661 E-mail : [email protected]

ED ACCC

Independent Auditor's Limited review report on the Quarterly Unaudited Consolidated Financial Results of KNR Constructions Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to

The Board of Directors, KNR Constructions Limited. Hyderabad.

    1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of KNR Constructions Limited (the "Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as the "Group"), and its share of the net profit after tax and total comprehensive profit of its associates and joint venture for the quarter ended June 30, 2021 (the "Statement") which includes Joint Operations of the Group accounted on proportionate basis, being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
    1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
    1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India ("ICAI"). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to RAO & obtain assurance that we would become aware of all significant matters/th might be identified in an audit. Accordingly, we do not express an audit opin

Branches

Hyderabad : 3rd Floor, D1, 6-3-652, Kautilya, Somajiguda, Hyderabad - 500 082. Ph.: 040-23322310 Mysore: 74, 2nd Main, First Stage, Vijayanagar, Mysore - 570 017. Ph.: 0821-2517971 Chennai : Flat 2-A, Second Floor, Shruthi 3/7, 8th Cross Street, Shastrinagar, Adayar, Chennai - 600 020. Ph.: 044- 24903137 / 45511564

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

    1. The Statement includes the results of the entities as referred to in Attachment A
    1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing 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.
    1. Emphasis of Matter

We draw attention to Note No 8 to the Consolidated Financial results, which describes the management assessment of uncertainties related to COVID-19 and its consequential financial impact on operations of the Company. Our conclusion is not modified in respect of this matter.

  1. We did not review the interim financial information of 11 joint operations included in the Statement whose financial information reflect total revenue (before consolidation adjustments) of Rs. 21,513.63 Lakhs and total profit/(loss) after tax (before consolidation adjustments) of Rs. (34.64) Lakhs for the quarter ended June 30, 2021 as considered in this Statement. The interim financial information of these joint operations have been reviewed by the other auditors whose reports have been furnished to us by the Management of the Company, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these joint operations, is based solely on the report of such other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of this matter.

  1. We did not review the interim financial information of 11 subsidiaries included in the consolidated unaudited financial results, whose standalone unaudited interim financial information reflect total revenues (before consolidation adjustments) of Rs. 43,965.54 lakhs, total net profit after tax(before consolidation adjustments) of Rs.2,979.74 lakhs and total comprehensive income (net) (before consolidation adjustments) of Rs.2,979.74 lakhs for the quarter ended June 30, 2021, as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of profit after tax of Rs. 519.15 lakhs for the quarter ended June 30, 2021 and total comprehensive Profit (net) of Rs. 520.99 lakhs for the quarter ended June 30, 2021 as considered in the Statement, in respect of 2 Associates, whose interim financial information have not been reviewed by us. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Parent's Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

  1. The consolidated unaudited financial results includes the interim financial information of 5 joint operations included in the respective standalone unaudited interim financial information of the entities included in the Group, whose interim financial information reflect total revenues (before consolidation adjustments) of Rs. Nil and total net profit/(loss) after tax (before consolidation adjustments) of Rs (0.91) Lakhs for the quarter ended June 30, 2021, as considered in the respective standalone unaudited interim financial information of the entities included in the Group. The interim financial information of these joint operations have not been reviewed by their auditors and whose interim financial information has been furnished to us by the Parent's Management. According to the information and explanations given to us by the Parent's Management, these interim financial information are not material to the Group.

The consolidated unaudited financial results also includes the Group's share of net profit after tax (before consolidation adjustments) is Nil and the total comprehensive income (net) (before consolidation adjustments) is Nil for the quarter ended June 30, 2021, as considered in the consolidated unaudited financial results, in respect of 1 joint venture, based on their interim financial information which have not been reviewed by their respective auditors and whose interim financial information has been furnished to us by the Parent's Management. According to the information and explanations given to us by the Parent's Management, these interim financial information are not material to the Group.

Ii. F. ItA{} & (,:{}" 4aE \t{'l } }{}"'\$} { { r }{ 1E \", 5

Our Corrclusion on the Statement interim financial infirrmation not modified in respect o[ our reliance on the by the Parent's Management.

For K.P. Rao & Co., [:er: 003135S

Membership No.029340 UDIN: 21 029340AA AAFDI925

Place: Bangalore Date: 12th August 2021

Continuation Sheet

ATTACHMENT-A

SI
No.		 Name of the Entity
Subsidiaries- Reviewed by other Auditors
$\mathbf{1}$ KNR Agrotech and Beverages Pvt Ltd
$\overline{2}$ KNR Infrastructure Projects Pvt Ltd
$\overline{\mathbf{3}}$ KNR Energy Ltd
$\overline{4}$ KNRC Holdings and Investments Private Ltd
5 KNR Srirangam Infra Pvt Ltd
6 KNR Tirumala Infra Pvt Ltd
$\overline{7}$ KNR Shankarampet Projects Pvt Ltd
8 KNR Somwarpet Infraproject Pvt Ltd
9 KNR Palani Infra Pvt Ltd
10 KNR Ramanattukara Infra Pvt Ltd
11 KNR Guruvayur Infra Pvt Ltd
Associates-Reviewed by other Auditors
$\mathbf{1}$ Patel KNR Heavy Infrastructures Ltd
$\overline{2}$ Patel KNR Infrastructures Ltd
Joint Operations - Reviewed by other Auditors
$\mathbf{1}$ Patel KNR-JV
$\overline{2}$ KNR BPL-JV
3 KNR Patel-JV
$\overline{4}$ KNR JKM- JV
5 KNR PBEPL-JV
6 KNR SEW GVR-JV
7 BSCPL KNRCL-JV
8 KNR HES ACPL-JV
9 KNR SLMI JV
10 PSK-KNR- GVR-JV
KNR-NAVAYUGA-NCC-JV
11
Joint Operations- not reviewed by other Auditors
$\mathbf{1}$ KNR SLEC-JV
$\overline{2}$ KNR GVR-JV
3 KNR JKM Kamala-JV
$\overline{4}$ KNR TBPCL-JV
5 KNR-HES-JV
Joint Venture- Not reviewed by other Auditor
$\mathbf{1}$ SEL KNR-JV

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