AKI India Ltd Directors Report.

Auditors Report on standalone Annual financial results of the company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) Regulation, 2015

To

The Board of Directors AKJ India Limited

We have audited the standalone annual financial results of AKI India Limited for the year ended march 31, 2020 and the standalone annual financial results for the year to date results for the period April 1, 2019 to March 31, 2020 attached herewith, being submitted by the company pursuant to the requirement of regulation 33 of the SEBI (Listing obligations and disclosure requirements) Regulation, 2015. Attention is drawn to the fact that figure for the last year ended March 31, 2020 and the corresponding figures between audited figures in the previous year as reported in these standalone annual financial results are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the relevant financial year.

These annual financial results have been prepared on the basis of Annual Ind AS financial statement, which are the responsibility of the companys management. Our responsibility is to express an opinion on these financial results based on our audit of such Annual Ind AS Financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in the companies (Indian Accounting Standard) Rules, 2015 under section 133 of the Companies Act, 2013, or by the Institute of Chartered Accountant of India, as applicable and other accounting principles generally accepted in India.

We conducted our audit in accordance with the auditing standard generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement(s). An audit includes examining, on the basis, evidence supporting the amount disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by the management. We believe that our audit provides a reasonable basis for our opinion.

In our opinion and to the best of our information and according to the explanation given to us these annual financial results:

(i) Are presented in accordance with the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and

(ii) Give a true and fair view of the net profit and other financial information for the year ended March 31, 2020.

Auditors Report on annual consolidated financial results and consolidated year to date results of the company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) Regulation, 2015

To

The Board of Directors

AKI India Limited

1. We have audited the accompanying Statement of Consolidated Financial results of AKI Limited ("the parent") and it subsidiaries (the parent and its subsidiaries together referred to as (‘‘the Group") and its share of the net profit / (loss) after tax for the year ended 31/03/2020 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Attention is drawn to the fact that the consolidated figures for the year ended 31st March 2020 and the corresponding period ended in the previous year as reported in these consolidated annual financial result arc balancing figures up to the end of the relevant financial year have been approved by the Parents Board of Director, also figure up to the end of the year bad only reviewed but not have been subject to audit

2. This Statement which is the responsibility of the Parents Management and approved by the Parents Board of Director, has been compiled from the related consolidated financial statements which has been prepared in accordance with the Indian Accounting Standard prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards ) Rules, 2015, as amended ("Ind AS") and other accounting principles generally accepted in India .Our responsibility is to express an opinion on the Statement based on our audit of such consolidated financial statement.

3. We conducted our audit in accordance with the Standards on Auditing specified under Section 143 (10) of the Companies Act 2013, Those Standards require that we comply with ethical requirement and plan and perform the audit to obtain reasonable assurance about whether the Statement is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Statement. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Parents preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the parents internal financial control with reference to the Statement. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management as well as evaluating the overall presentation of the Statement.

We also informed procedures in accordance with the circular issued by the SEBI under Regulation 33 (S) of the SEBI (listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

We believe that the audit evidence obtained by u.s and the audit evidence obtained by the other auditors in terms of their reports referred to in paragraph 5 below, is sufficient and appropriate to provide a basis for our audit opinion.

4. In our opinion and to the best of our information and according to the explanations given to us. and based on the consideration of the reports of the other auditors on separate financial statements and the other financial information of branches and joint operations of the Group. Subsidiaries, associates and joint ventures referred to in paragraph 5 below, the Statement.

a) Includes the results of the following entities

i) AKI (UK) Limited

b) Is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015, as amended, and

c) gives a true and fair view in conformity with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated total comprehensive income (comprising of net [profit loss] and other comprehensive income/loss) and other financial information of Group for the year ended 31/03/2020.

5. We did not audit the financial statements/financial information of the subsidiary AKI (UK) Limited included in the consolidated financial results, whose financial statements/financial information for the year ended on that date reflect the following :

Description Aki (U.K) limited (In GBP)
Total Assets 3,01,450.00
Total Revenue 4,41,580.00
Net Profit/Loss after tax 6,370.00
Comprehensive Income/(Loss) Nil

These financial statements/financial information have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the consolidated financial results. In so far as it relates to the amounts and disclosures included in respect of these subsidiaries, associates 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 opinion on the Statement is not modified in respect of the above matters.

6. The Statement includes the results for the year ended 31/03/2020 being the balancing figure between audited figure in respect of the full financial year and the published unaudited year to date figures up to the year end of the current financial year which were subject to limited review by us.