Hindustan Agrigenetics Ltd Auditors Report.

To

The Members of

M/S HINDUSTAN AGRIGENETICS LIMITED

NEW DELHI

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of M/S HINDUSTAN.AGRIGENETICS.LIMITED.[CIN.No.:.L01119DL1990PLC040 979], which comprise the Balance Sheet as at 31st March 2018, the Statement of Profit and Loss(including other comprehensive income) and the statement of changes in equity for the year then ended , and a summary of significant accounting policies and other explanatory information (hereinafter referred to as Financial statements)

Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matter stated in Section 134(5) of the companies Act, 2013 ("the Act") with respect to the preparation of these standalone Ind AS financial statements that give a true and fair view of financial position, financial performance (including other comprehensive income), cash flows and changes in equity of the company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards specified in the in the Companies (Indian Accounting Standards) Rules 2015(as amended) under section 133 of the Act.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the company and for preventing and detecting frauds and other irregularities: selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of financial statements that give a true and fair view and are free from material misstatements, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these standalone Ind AS financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matter which are required to be included in the audit report under the provisions of the Act and Rules made there under. We conducted our audit in accordance with the standards on auditing specified under section 143(10) of the Act. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit involves performing procedure to obtain audit evidence about the amounts and disclosure in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risk of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessment, the auditor considers internal financial control relevant to the Company’s preparation of the standalone Ind AS financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the company’s Directors, as well as evaluating the overall presentation of Standalone Ind AS financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone Ind AS financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India (including Ind AS,

a. In case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2018;

b. In case of Profit and Loss Account (including comprehensive income), of the Profit for the year ended on that date.

c. In case of Cash flow statements and changes in the equity , of the cash flows and changes in the equity for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2016("the order") issued by Central Government of India in terms of sub-section (11) of section 143 of the companies Act, 2013, We give in the Annexure A statement on the matters specified in paragraphs 3 and 4 of the order.

2. As required by section 143(3) of the Act, we report that: a. We have sought and obtained all information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit. b. In our opinion proper books of account as required by Law have been kept by the Company so far as it appears from our examinations of those books; c. The Balance Sheet, statement of Profit and Loss (including comprehensive income) , the statement of cash flows and the statement of changes in equity dealt with by this Report are in agreement with the books of account. d. In our opinion, the aforesaid standalone Ind AS financial standards comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the companies (Account) Rule, 2014. e. On the basis of written representations received from the directors as on 31st March 2018 taken on record by the Board of Directors, none of the director is disqualified as on 31st March 2018, from being appointed as a director in terms of section 164(2) of the Act. f. With respect to the adequacy of the internal financial controls over financial reporting of the company and the operating effectiveness of such controls, ref to our separate report in Annexure B. g. With respect to the other matters to be included in the Auditor’s Report in accordance with rule 11 of the companies (Audit and Auditors) Rules.2014. in our opinion and to the best of our information and according to the explanations gives to us: i. The Company did not have any pending litigation hence no impacts on its financial position. ii. The Company did not have any long term contracts including derivative contracts for which there were any material foreseeable losses. iii The company has not transferred Rs. 1,53,692/- refund outstanding more than eight years under the head share application money to the Investor Education and Protection Fund.

For SHARMA ANAND & CO.
CHARTERED ACCOUNTANTS
Firm’s Registration No.: 005453N
(CA PERMOD SHARMA)
Place: New Delhi PARTNER
Dated: 30.05.2018 M. No.: 83731

Annexure to Independent Auditor’s Report for the financial year endedon 31st March 2017 Referred to in paragraph 5 Under Report on other Legal and Regulatory Requirement Return of our report of even date.

(i) In respect of it’s Fixed Assets a. The company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets.

b. The Company has a regular programme of physical verification of its fixed assets by which all fixed assets are verified in a phased manner over a period of three years. In our option, this periodicity of physical verification is reasonable having regard to the size of the company and the nature of its assets. Certain fixed assets were verified during this year as per this program, No material discrepancies were noticed on such verification.

c. According to the information and explanations given to us and on the basis of our examination of the records of the Company, title deeds of immovable properties are held in the name of the Company.

(ii) In respect of Inventories

1. a. According to the information and explanations given to us, the inventories have been physically verified by the management at reasonable Intervals during the year. In our opinion the frequency of such verification is reasonable. For stocks lying with third parties at the year end, written confirmations have been obtained.

b. The discrepancies noticed during the physical verification of inventories as compared to book records were not material and have been properly dealt with in the books of account.

(iii) According to the information and explanations given to us, the company has not granted any loans, secured or unsecured, to companies, Limited Liability Partnership, firms or other parties covered in the register maintained under section 189 of the Act.

Accordingly the provisions of clause 3(iii), 3(iii)(a), 3(iii)(b), 3(iii)(c) of the order are not applicable to the company.

(iv) In our opinion and according to the information and explanation given to us, the company has not granted any loans or made any investments or provided any guarantee or security to the parties covered under section 185 & 186. Therefore the provisions of clause 3(iv) of the said order are not applicable to the company

(v) According to the information and explanation given to us, the Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provision of section 73 to 76 or any other relevant provision of the Act and the companies (Acceptance of Deposit) Rules 2015 with regard to the deposits accepted from the public are not applicable. (vi) As per information & explanation given by the management, the maintenance of cost records has not been prescribed by the Central Government under section 148(1) of the Act.

(vii) (a) According to the information and explanations given to us and on the basis of our examination of the book of account of the company has been regular in depositing of undisputed statutory dues including provident fund, Employees state insurance income tax sales tax, value added tax. Wealth tax service, VAT, customs duty, excise duty and other material statutory dues applicable to it with the appropriate authorities regularly deposited with the appropriate authorities.

(b) According to the information and explanations gives to us, there was no undisputed amount payable in respect of provident fund, Employees’ state insurance, income tax, sales tax, service tax.

Wealth tax Service duly customs duty, excise duty and other material statutory dues were in arrears as at 31st March 2018 for a period of more than six months from the date they became payable.

(viii) In our opinion and according to the information and explanation given to us, the company has not defaulted in repayment of dues to banks. The company has not taken any loan either from financial institution or from the government and has not issued any debentures as at the balance sheet date.

(ix) Based upon the audit procedures performed and the information and explanation given by the management, the company has not raised any moneys by way of initial public offer, further public offer (including debt instruments) and term loan. Accordingly the provisions of clause 3(ix) of the order are not applicable to the company hence not commented upon.

(x) Based upon the audit procedures performed and the information and explanation given by the management, we have neither come across any instances of material fraud by the company or on the company by its officers or employees, noticed or reported during the year, nor have we been informed of any such case by the management. (xi) Based upon the audit procedure performed and the information and explanation given by the management, the managerial remuneration has not been paid. Accordingly the provisions of clause 3(xi) of the order are not applicable to the company hence not commented upon.

(xii) In our opinion, the company is not a Nidhi company. Therefore, the provisions of clause 4(xii) of the order are not applicable to the company.

(xiii) According to the information and explanation given to us and based on our examination of the records of the company, transaction entered with the related parties are in compliance with section 177 and 188 of companies act 2013 and the details have been disclosed in the financial statements as required by the applicable accounting standard. (xiv) Based upon the audit procedure performed and the information and explanation given by the management, the company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review.

(xv) Based upon the audit procedures performed and the information and explanation given by the management the company has not entered into any non cash transaction with director or person connected with him. Accordingly the provisions of clause 3(xv) of the order are not applicable to the company and hence not commented upon.

(xvi) In our opinion the company is not required to registered under section 45 IA of Reserve Bank of India Act, 1934 and accordingly, the provisions of clause 3(xvi) of the order are not applicable to the company and hence not commented upon.

For SHARMA ANAND & CO.
PLACE: NEW DELHI CHARTERED ACCOUNTANTS
Dated: 30.05.2018 Firm’s Registration No.: 005453N
(CA PERMOD SHARMA)
PARTNER
M. No.: 083731