We have audited the accompanying standalone financial statements of TTK Prestige Limited ("the Company"), which comprise
the balance sheet as at March 31, 2026 the statement of Profit and Loss (including other comprehensive income), statement
of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a
summary of material accounting policies and other explanatory information (hereinafter referred to as "standalone financial
statements").
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone
financial statements give the information required by the Companies Act, 2013 ('the Act') in the manner so required and give
a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with
the Companies (Indian Accounting Standards) Rules, 2015, as amended, (Ind AS) and other accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2026 its profit and other comprehensive income,
changes in equity and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our
responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial
Statements 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 ("ICAI") together with the ethical requirements that are relevant to our audit of
the standalone financial statements under the provisions of the Act 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
obtained by us is sufficient and appropriate to provide a basis for our opinion on the standalone financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone
financial statements of the current period. These matters were addressed in the context of our audit of the standalone financial
statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We
have determined the matters described below to be the key audit matters to be communicated in our report.
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Key Audit Matter
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How our audit addressed the Key Audit Matter
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1.
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Revenue Recognition
The Company manufactures and trades in a number
of products related to kitchen appliances. Revenue
is measured net of discounts, incentives and rebates
earned by customers on the Company's sales.
Given the variety and large number of sales
transactions and estimates involved in discounts etc.
revenue recognition is considered a Key Audit Matter.
Disclosure Note 45 and the accounting policies
provides additional information on how the Company
accounts for its revenue.
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Our audit included but was not limited to the following
procedures:
Our procedures included, among others, obtaining an
understanding of the processes and relevant controls relating
to the accounting for customer contracts.
Accounting Policies:
Assessing the appropriateness of the Company's revenue
recognition accounting policies, including those relating to
discounts, incentives and rebates under Ind AS 115.
Control Testing:
Testing the selected key controls for the revenue recognized
throughout the year and calculation of discounts, incentives
and rebates, including reviewing the results of testing by
management, for their design and operating effectiveness
and performed procedures to gain sufficient audit evidence
on the accuracy of the accounting for customer contracts and
related financial statement assertions.
Evaluating the IT systems relevant for revenue recognition
and the functioning of the related general IT controls.
Tests of Details:
• Reviewed sales transactions recorded either side of year
end as well as credit notes issued after the year end date to
determine whether revenue was recognized in the correct
period.
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• Performed substantive procedures to understand and
validate the basis of provision for schemes and discounts
with underlying workings and evidences.
• Compared the current year estimates of discounts,
incentives and rebates to the prior year and, where
relevant, completing further inquiries and testing.
• Obtained the supporting documentation on sample basis
for discounts and incentives given under schemes to agree
to the amounts recorded as discounts and incentives
during the period.
• Use of data analytics to perform analytical procedures and
substantive tests of detail in order to audit the underlying
revenue.
Disclosures:
• Tracing disclosure information to accounting records and
other supporting documentation.
• Ensured the completeness of the disclosures made are as
per Ind AS 115.
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2.
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Impairment assessment of investments in
Subsidiaries
The Company has investments in subsidiaries both in
India and abroad. These investments are accounted
for at cost less any provision for impairment. The
Company evaluates the indicators of impairment
of the said investments regularly by reference to
the requirements under Ind AS 36 Impairment of
Assets. In the previous year, impairment indicators
were identified in the foreign subsidiary and
management recognised an impairment loss based
on its assessment and impairment provision of
' 32.26 crores was made (Refer Note No. 05). In the
current year company has carried out impairment
assessment of both the subsidiaries and concluded
that no additional impairment loss is required. For
this assessment company carried out the following:
• Comparing the carrying value of investments with
the net worth of the subsidiary companies based
on latest financial statements
• Comparing the performance of the subsidiaries
with projections used in approved business plans
• Management has considered variables such as
future revenues, operating expenditure and the
most appropriate discount rate in their projections/
business plans.
• The recoverable amounts of the above investments
are estimated in order to determine the extent of
the impairment loss, if any.
As impairment assessment involves significant
assumptions and judgement, we regard this as a key
audit matter.
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Our audit procedures included the following:
• We obtained an understanding of management's
process for identification of impairment indicators and
management's process for determination of the recoverable
value of assets for which impairment indicators exists.
• We obtained from the management the assessment of
recoverable amount in respect of the subsidiaries.
• We assessed management's projections used in the
assessment of recoverable amount by comparing the same
with the business plan approved by the Board of Directors
of the subsidiary companies.
• We assessed the key assumptions used by the management
in the assessment of recoverable amounts by comparing
them with historical trends and external data, where
available.
• We involved our valuation specialists in evaluating the
reasonableness of the assumptions used.
• We assessed the disclosures in the standalone financial
statement for compliance with the requirements of Ind AS.
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Information Other than the Standalone Financial Statements and Auditors' Report Thereon
The Company's Management and Board of Directors are responsible for the preparation of the other information. The other
information comprises the information included in the Directors report but does not include the financial statements and our
auditors' report thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or
our knowledge obtained during the audit or otherwise appears to be materially misstated. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We obtained the Directors report prior to the date of this audit report. We have nothing to report in this regard.
Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements
The Company's Management and Board of Directors are responsible for the matters stated in Section 134(5) of the Act with
respect to the preparation of these standalone financial statements that give a true and fair view of the state of affairs, profit
and other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting
principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified 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 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
statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial statements, Management and 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 is also responsible for overseeing the Company's financial reporting process.
Auditors' Responsibilities for the Audit of the Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditors' 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 statements.
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 statements, 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 financial control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion
on whether the company has adequate internal financial controls with reference to the standalone financial statements
in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by the Management.
• Conclude on the appropriateness of Management and Board of Director's 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 auditors' report to the related disclosures in the standalone
financial statements 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 auditors' report. However, future events or conditions may cause the
Company to cease to continue as a going concern; and
• Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures,
and whether the standalone financial statements 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.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the standalone financial statements of the current period and are therefore the key audit matters.
We describe these matters in our auditors' report unless law or regulation precludes public disclosure about the matter or when,
in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditors' Report) Order, 2020 ("the Order"), issued by the Central Government of India
in terms of Section 143 (11) of the Act, we give in the "Annexure A" a statement on the matters specified in paragraphs
3 and 4 of the Order, to the extent applicable.
2. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief
were necessary for the purposes 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 examination of those books
(c) The Balance Sheet, the Statement of Profit and Loss (including other comprehensive income), the Statement of
Changes in Equity and the statement of cash flows dealt with by this Report are in agreement with the books of
account.
(d) In our opinion, the aforesaid standalone financial statements comply with the (Ind AS) specified under Section 133
of the Act.
(e) On the basis of the written representations received from the directors as on March 31,2026 taken on record by the
Board of Directors, none of the directors is disqualified as on March 31, 2026 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 with reference to the standalone financial statements
of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure B".
(g) With respect to the other matters to be included in the Auditors' 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 given to us:
i. The Company has disclosed the impact of pending litigations as at March 31,2026 on its financial position in
its standalone financial statements - Refer Note 34 to the standalone financial statements;
ii. The Company did not have any long-term contracts including derivative contracts for which there were any
material foreseeable losses.
iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and
Protection Fund by the Company during the year ended March 31, 2026;
iv. (a) The management has represented that, to the best of its knowledge and belief, as disclosed in note 51
to the financial statements, no funds have been advanced or loaned or invested (either from borrowed
funds or share premium or any other sources or kind of funds) by the company to or in any other
person(s) or entity(ies), including foreign entities ("Intermediaries"), with the understanding, whether
recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the company
("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
(b) The management has represented, that, to the best of its knowledge and belief, as disclosed in note
51 to the financial statements, no funds have been received by the company from any person(s) or
entity(ies), including foreign entities ("Funding Parties"), with the understanding, whether recorded
in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate
Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(c) Based on such audit procedures that we have considered reasonable and appropriate in the circumstances,
nothing has come to our notice that has caused us to believe that the representations under sub-clause
(a) and (b) contain any material mis-statement.
v. The final dividend paid by the Company during the year in respect of the same declared for the previous year is
in accordance with Section 123 of the Act to the extent it applies to payment of dividend.
As stated in note 50 to the standalone financial statements, the Board of Directors of the Company has proposed
final dividend for the year which is subject to the approval of the members at the ensuing Annual General
Meeting. The dividend declared is in accordance with Section 123 of the Act to the extent it applies to declaration
of dividend.
vi. As stated in Note 53 to the financial statement and relying on representations/explanations from the company
and based on our examination which included test checks, the Company for the financial year 2025-26, has used
accounting software for maintaining its books of account, which has a feature of recording audit trail (edit log)
facility and the same has been enabled and operated throughout the year for all relevant transactions recorded
in the software.
vii. Further, we did not come across any instance of the audit trail feature being tampered with. Additionally, other
than the periods where audit trail was not enabled in the current and prior years, the audit trail has been
preserved by the company as per the statutory requirements for record retention.
3. With respect to the matter to be included in the Auditors' Report under Section 197(16) of the Act:
In our opinion and according to the information and explanations given to us, the remuneration paid by the Company
to its directors during the current year is in accordance with the provisions of Section 197 of the Act. The remuneration
paid to any director is not in excess of the limit laid down under Section 197 of the Act.
For PKF Sridhar & Santhanam LLP
Chartered Accountants
Firm's Registration No.003990S/S200018
Place : Bengaluru Sd/-
Date : May 22, 2026 Rajeshwari S.
Partner
Membership No. 024105
UDIN: 26024105NQDGOB9643
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