- We did not review the interim financial results of four subsidiaries included in the Statement, whose
financial information (before eliminating intercompany transactions and balances) reflect total revenues
of ₹ 11,260 lakhs and ₹ 36,582 lakhs, total net (loss) after tax of ₹ (3,296) lakhs and ₹ (2,056) lakhs,
total comprehensive (loss) / income of ₹ (2,513) lakhs and ₹ 1,698 lakhs, for the quarter and
nine-months period ended on 31 December 2022, respectively, as considered in the Statement. These
interim financial results have been reviewed by other auditors whose review reports have been furnished
to us by the management, and our conclusion in so far as it relates to the amounts and disclosures
included in respect of these subsidiaries is based solely on the review reports of such other auditors and
The above is the auditor report cp industries is holding company of cp industries inc which is usa based
Now non fulfilment of contract when management is saying that demand is dull even eliminating 19.9 cr penalty the loss is 13 cr on operations alone.
Also there is gain of 9.7 cr on foreign exchange and 16 cr usa grant so an unusual income of 26 cr and 4.75 cr from disposing machinery and other gain of 2 cr . If there no foreign exchange gain of 9.7 cr and 4.75 cr machinery sales the actual loss on this qtr excluding penalty 32 cr and including penalty is 52 cr on an operation of just 115 cr
Until some explanation comes this looks another issue
Written an email seeking explanation
Request seniors to kindly look into the pl statement and auditors remark and shed more light
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