We have audited the accompanying standalone financial results of M Lakhamsi
Industries Limited (Formerly Known as Specular Marketing and Financing
Limited) ("the Company") for the quarter ended 31 March 2024 and for the year
ended 31 March 2024 ("the Statement" or "standalone financial results"), attached
herewith, being submitted by the Company pursuant to the requirement of
Regulation 33 of the Securities and Exchange Board of India ("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 the aforesaid standalone financial results;
a. are presented in accordance with the requirements of Regulation 33 of the
Listing Regulations in this regard; and
b, give a true and fair view in conformity with the recognition and measurement
principles laid down in the applicable Indian Accounting Standards, and other
accounting principles generally accepted in India, of the net profit and other
comprehensive income and other financial information for the quarter ended 31
March 2024 and for the year ended 31 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. 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 standalone financial statements 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/rvV^N/
We believe that the audit evidence we have obtained is sufficient and appropriate toV1 i3SF:
provide a basis for our opinion, ÝÝ V-/. .
Management's and Board of Director's Responsibilities for the Standalone
Financial Results
These standalone financial results have been prepared on the basis of the
standalone financial statements.
The Company's Management's and the Board of Director's are responsible for the
preparation and presentation of these standalone 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 Standards find AS) prescribed under section 133 of
the Act 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 Management and 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 is also responsible for overseeing the company's financial
reporting process.
Auditor's Responsibilities for the Audit of 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 materia! 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.-
statements, whether due to fraud or error, design and perform audit procedures ‘
responsive to those risks, and obtain audit evidence that is sufficient and Ý
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. Under section
143(3)(f) of the Companies Act, 2013, we are also responsible for expressing our
opinion on whether the company has internal financial controls with reference to
Financiai 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 in the standalone financial results
made by the management and Board of Directors.
* Conclude on the appropriateness of Management and 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 appropriateness of this assumption. 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 standalone 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 standalone 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
compiled 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.y'fTT/v^
Other Matters
The standalone financial results include the results for the quarter ended 31 March
2024 being the balancing figure between the audited figures In respect of the full
financial year and the published unaudited year to date figures up to the third
quarter of the current financial year which were subject to limited review by us.
For
TDK & Co.
Chartered Accountants
Firm Registratij^frNumber: 1098G4W
Nji^Fartj Shdh
f(PARTNER)
Membership Number : 121057
UDIN:- 24121057BKECOP2024
Place: Mumbai
Date: 30-05-2024
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