Modi Rubber Ltd. — Audit Report / Information 2021

Jul 29, 2021

MODI RUBBER LIMITED
4-7C, D.D.A. SHOPPING CENTRE, NEW FRIENDS COLONY, NEW DELHI-110 025 (INDIA)

CIN No.: L25199UP1971PLC003392

Statement on Impact of Audit Qualifications (for audit report with modified opinion) submittedalong-with Annual Audited Consolidated 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]
L.	SI. No.	Particulars	Audited Figures (as reported before adjusting for qualifications)	Adjusted Figures (audited figures after adjusting for qualifications)
	1.	Turnover / Total income	Rs 1,607.93 lacs
	2.	Total Expenditure	Rs 2,021.46 lacs
	3.	Net Profit/(Loss)	Rs 372.50 lacs
	4.	Earnings Per Share	1.84	Not Ascertainable.
	5.	Total Assets	Rs. 45,981.05 lacs
	6.	Total Liabilities	Rs 2,596.67 lacs
	7.	Net Worth	Rs 43,384.38 lacs
	8.	Exceptional Item (Provision for impairment in the value of investment)	Rs 349.77 lacs
П.	Audit Qualification (each audit qualification separately): a. Details of Audit Qualification: Note 11 to the results which describe non-provision for impairment/diminution in the carrying value of investments amounting to Rs 2,510.82 lacs as stated in the said note. In the opinion of the management, the diminution does not represent inherent loss in the value thereof. In the absence of appropriate evidence made available to us supporting management's view, we are unable to comment on the recoverability/impairment (if any) of the said amount.
	Type of Audit Qualification : Qualified Opinion b.
		Frequency of qualification: Appeared first time c.
	For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views: d. NA
	For Audit Qualification(s) where the impact is not quantified by the auditor: e.
		Management's estimation on the impact of audit qualification: (i) Not ascertainable

		If management is unable to estimate the impact, reasons for the same: Pursuant to the (ii) impact of COVID-19 on the travel industry worldwide due to lockdowns, suspension of flights and travel restrictions, the business of the investee company "Uniglobe Mod Travels Private Limited" has also been severely impacted during the year resulting in accumulation of cash losses incurred by the investee company. The company's management is of the opinion that due to uncertainty over the continuation of COVID-19 and mutation of new variants of COVID- 19 virus, the impact of the same over the investee company cannot be ascertained as on date. However, considering the long term and strategic nature of investment, impairment in the value of investments due to erosion in the net worth of the investee entity is considered temporary and accordingly there is no need to make impairment/provision against the same at this stage.
		(iii) Auditors' Comments on (i) or (ii) above: Refer basis of Qualified opinion paragraph of Auditor's report.
Ш.	Signatories:
		CEO/Managing Director
		CFO
		$A$ & ASSO. Audit Committee Chairman
		Statutory Auditor onartered
		Accountants
	Place: New Delhi $\mathcal{D}_{\mathcal{S}}$
	Date: 30 th June, 2021