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All Time Plastics Ltd Auditor Reports

303.1
(-7.69%)
Aug 26, 2025|12:00:00 AM

All Time Plastics Ltd Share Price Auditors Report

Consolidated and Standalone Financial Information

To,

The Board of Directors,

All Time Plastics Limited (formerly known as All Time Plastics Private Limited),

B-30, Royal Industrial Estate,

Wadala,

Mumbai ? 400031,

Maharashtra, India.

Dear Sirs,

1. We have examined the attached Restated Consolidated Financial Information of All Time Plastics Limited
(formerly known as All Time Plastics Private Limited) (the "Company or the "Issuer") and its subsidiary (the
Company and its subsidiary together referred to as the "Group), comprising the Restated Consolidated
Statement of Assets and Liabilities as at 31 March 2025 and the Restated Consolidated Statements of Profit
and Loss (including other comprehensive income), the Restated Consolidated Statement of Changes in Equity
and the Restated Consolidated Cash Flow Statement for the year ended 31 March 2025 and the Restated
Standalone Statement of Assets and Liabilities as at 31 March 2024 and 31 March 2023 and the Restated
Standalone Statements of Profit and Loss (including other comprehensive income), the Restated Standalone
Statement of Changes in Equity and the Restated Standalone Cash Flow Statement for the years ended 31
March 2024 and 31 March 2023 and the Summary Statement of material accounting policies, and other
explanatory information (collectively, the "Restated Consolidated and Standalone Financial Information"),
as approved by the Board of Directors of the Company at their meeting held on 20 July 2025 for the purpose of
inclusion in the Red Herring Prospectus "RHP and Prospectus prepared by the Company in connection with
its proposed Initial Public Offer of equity shares ("IPO") prepared in terms of the requirements of:

a.

b. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,
2018, as amended ("ICDR Regulations"); and

c. The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of
Chartered Accountants of India ("ICAI"), as amended from time to time (the "Guidance Note").

2. The Companys Board of Directors is responsible for the preparation of the Restated Consolidated and
Standalone Financial Information for the purpose of inclusion in the RHP and Prospectus to be filed with
Securities and Exchange Board of India, National Stock Exchange of India Limited and BSE Limited (collectively,
"Stock Exchanges") and Register of Companies, Maharashtra at Mumbai ("ROC) in connection with the
proposed IPO. The Restated Consolidated and Standalone Financial Information have been prepared by the
management of the Company on the basis of preparation stated in note 1.1 to the Restated Consolidated and
Standalone Financial Information. The respective Board of Directors of the companies included in the Group,
responsibility includes designing, implementing and maintaining adequate internal control relevant to the
preparation and presentation of the Restated Consolidated and Standalone Financial Information. The Board of
Directors are also responsible for identifying and ensuring that the Group complies with the Act, ICDR
Regulations and the Guidance Note.

3. We have examined the Restated Consolidated and Standalone Financial Information taking into consideration:

a. The terms of reference and terms of our engagement agreed upon with you in accordance with our
engagement letter dated 29 July 2024, addendums dated 24 September 2024 and 05 June 2025, in
connection with the proposed IPO of equity shares of the Company;

b. The Guidance Note. The Guidance Note also requires that we comply with the ethical requirements of the
Code of Ethics issued by the ICAI;

c. Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence
supporting the Restated Consolidated and Standalone Financial Information; and

d. The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to
assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations
and the Guidance Note in connection with the IPO.

4. These Restated Consolidated and Standalone Financial Information have been compiled by the Companys
management from audited consolidated financial statements of the Group as at and for the year ended 31 March
2025 and the audited financial statements of the Company as at and for the years ended 31 March 2024 and
31 March 2023 prepared

read with Companies (Indian Accounting Standards) Rules 2015, as

amended,

of Directors at their meeting held on 04 June 2025,16 August 2024 and 27 September 2023 respectively.

5. For the purpose of our examination, we have relied on the auditors reports issued by us dated
04 June 2025 on the consolidated financial statements of the Group as at and for the year ended
31 March 2025 as referred in paragraph 4 above and the a

16 August 2024 and 27 September 2023 on the financial statements of the Company as at and for the year
ended 31 March 2024 and 31 March 2023 respectively.

6. As indicated in our auditors report on the consolidated financial statement of the Group as at and for the year
ended 31 March 2025 referred in above:

We did not audit financial statements of one subsidiary, whose share of total assets, total revenues, net cash
inflows / (outflows) and share of profit/ loss included in the consolidated financial statements for the year ended
31 March 2025 is tabulated below, which have been audited by other auditor, Ford Rhodes Parks & Co LLP,
and whose reports have been furnished to us by the Companys management and our opinion on the
consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of
this component, is based solely on the report of the other auditor

( in million)

Particulars

As at / for the year ended
31 March 2025

Total assets

0.02

Total revenues

Nil

Net cash outflows

(0.04)

7. Based on our examination and according to the information and explanations given to us, we report that the

Restated Consolidated and Standalone Financial Information:

a. have been prepared after incorporating adjustments for the changes in accounting policies, material errors
and regrouping/ reclassifications retrospectively for the financial years ended 31 March 2024 and 31 March
2023 to reflect the same accounting treatment as per the accounting policies and grouping/ classifications
followed as at and for the year ended 31 March 2025;

b. does not contain any qualifications requiring adjustments. However, those qualifications/ observations the
Companies (Auditors Report) Order, 2020 issued by the Central Government of India in terms of sub

section (11) of section 143 of the Act for the years ended 31 March 2025, 31 March 2024 and
31 March 2023 which do not require any adjustments in the Restated Consolidated and Standalone
Financial Information have been disclosed in note 50 of the Restated Consolidated and Standalone
Financial Information; and

c. has been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

8. The Restated Consolidated and Standalone Financial Information do not reflect the effects of events that
occurred subsequent to the respective dates of the reports on the audited consolidated financial statements and
audited financial statements mentioned in paragraph 4 above.

9. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports
issued by us, nor should this report be construed as a new opinion on any of the financial statements referred
to herein.

10. We have no responsibility to update our report for events and circumstances occurring after the date of the
report.

11. Our report is intended solely for use of the Board of Directors for inclusion in the RHP and Prospectus to be
filed with the Securities and Exchange Board of India, the Stock Exchanges and the ROC in connection with the
proposed IPO. Our report should not be used, referred to, or distributed for any other purpose except with our
prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other
purpose or to any other person to whom this report is shown or into whose hands it may come without our prior
consent in writing.

For Walker Chandiok & Co LLP
Chartered Accountants
Firm Registration No: 001076N/ N500013

 

Rajni Mundra

Partner
Membership no.: 058644

UDIN: 25058644BMODLZ7157

 

Place: Mumbai

Date: 20 July 2025

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