We have audited the accompanying standalone quarterly financial results of TTI
ENTERPRISE LIMITED (hereinafter referred to as 'the company') for the quarter
ended 31st March 2024 and the year to date results for the period from 01st April
2023 to 31st March 2024, attached herewith, being submitted by the company
pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations
given to us these standalone financial results:
i. are presented in accordance with the requirements of Regulation 33 of
the Listing Regulations in this regard; and
ii. give a true and fair view in conformity with the recognition and
measurement principles laid down in the applicable accounting
standards and other accounting principles generally accepted in India of
the net profit/loss and other comprehensive income and other financial
information for the quarter ended 31st March 2024 as well as the year to
date results for the period from 01st April 2023 to 31st March 2024.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs)
specified under section 143(10) of the Companies Act, 2013 (the Act). Our
responsibilities under those Standards are further described in the Auditor's
Responsibilities for the Audit of the Standalone Financial Results section of our
report. We are independent of the Company in accordance with the Code of Ethics
issued by the Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the financial results under the
provisions of the Companies Act, 2013 and the Rules thereunder, and we have
fulfilled our other ethical responsibilities in accordance with these requirements
and the Code of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Management's Responsibilities for the Standalone Financial Results
These quarterly financial results as well as the year to date standalone financial
results have been prepared on the basis of the interim financial statements. The
Company's Board of Directors are responsible for the preparation of these financial
results that give a true and fair view of the net profit/loss and other comprehensive
income and other financial information in accordance with the recognition and
measurement principles laid down in Indian Accounting Standard 34, 'Interim
Financial Reporting' prescribed under Section 133 of the Act read with relevant
rules issued thereunder and other accounting principles generally accepted in
India and in compliance with Regulation 33 of the Listing Regulations. This
responsibility also includes maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding of 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 controls that were operating effectively
for ensuring the accuracy and completeness of the accounting records, relevant
to the preparation and presentation of the standalone financial results that give a
true and fair view and are free from material misstatement, whether due to fraud
or error.
In preparing the standalone financial results, the Board of Directors are
responsible for assessing the Company's ability to continue as a going concern,
disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Board of Directors either intends to
liquidate the Company or to cease operations, or has no realistic alternative but
to do so.
The Board of Directors are also responsible for overseeing the Company's financial
reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial
Results
Our objectives are to obtain reasonable assurance about whether the standalone
financial results as a whole are free from material misstatement, whether due to
fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these standalone
financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the standalone
financial results, whether due to fraud or error, design and perform audit
procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion.
• The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of
internal control.
• Obtain an understanding of internal control relevant to the audit in order to
design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the
company's internal control.
• Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures made by
the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going
concern basis of accounting and, based on the audit evidence obtained,
whether a material uncertainty exists related to events or conditions that
may cast significant doubt on the Company's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required
to draw attention in our auditor's report to the related disclosures in the
financial results or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit evidence obtained up to the
date of our auditor's report. However, future events or conditions may
cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone
financial results, including the disclosures, and whether the financial results
represent the underlying transactions and events in a manner that achieves
fair presentation.
We communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit and significant audit findings,
including any significant deficiencies in internal control that we identify during our
audit.
We also provide those charged with governance with a statement that we have
complied with relevant ethical requirements regarding independence, and to
communicate with them all relationships and other matters that may reasonably
be thought to bear on our independence, and where applicable, related
safeguards.
Other Matters
The standalone financial results include the results for the quarter ended 31st
March 2024 being the balancing figures between the audited figures in respect of
the full financial year and the limited reviewed figures published up to the end of
the third quarter of the current financial year. The figures up to the end of the
third quarter had only been reviewed and not subjected to audit.
For MARK & Co.
Chartered Accountant
Firm Registration No. 142902W
SD/-
RahulLodha
Partner
Membership No. 148787
Place: Mumbai
Date: 28.05.2024
UDIN: 24148787BKASFZ1300
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