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Walker Chandiok & Co LLP Walker Chandiok & Co LLP 11th Floor , Tower II , One International Center , SB Marg , Prabhadevi ( W ) , Mumbai - 400013 Maharashtra , India T +91 22 6626 2699 F +91 22 6626 2601 Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 ( as amended ) To the Board of Directors of EPL Limited ( formerly , Essel Propack Limited ) Opinion 1. We have audited the accompanying consolidated annual financial results ( ' the Statement ' ) of EPL Limited ( formerly , Essel Propack Limited ) ( ' the Holding Company ' ) and its subsidiaries ( the Holding Company and its subsidiaries together referred to as ' the Group ' ) and its associate for the year ended 31 March 2021 , attached herewith , being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 ( as amended ) ( ' Listing Regulations ' ) , including relevant circulars issued by the SEBI from time to time . 2. In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of other auditors on separate audited financial statements / financial information of the subsidiaries as referred to in paragraph 12 below , the Statement : ( i ) includes the annual financial results of the entities listed in Annexure 1 ; ( ii ) presents financial results in accordance with the requirements of Regulation 33 of the Listing Regulations ; and ( iii ) gives a true and fair view in conformity with the applicable Indian Accounting Standards ( ' Ind AS ' ) prescribed under Section 133 of the Companies Act , 2013 ( ' the Act ' ) read with relevant rules issued thereunder , and other accounting principles generally accepted in India , of the consolidated net profit after tax and other comprehensive income and other financial information of the Group and its associate , for the year ended 31 March 2021 . Basis for Opinion 3. We conducted our audit in accordance with the Standards on Auditing ( ' SAs ' ) specified under section 143 ( 10 ) of the Act . Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Statement section of our report . We are independent of the Group and its associate , in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ( ' the ICAI ' ) together with the ethical requirements that are relevant to our audit of the 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 and that obtained by the other auditors in terms of their reports referred to in paragraph 12 of the Other Matters section below , is sufficient and appropriate to provide a basis for our opinion . Chartered Accountants Offices in Bengaluru , Chandigarh , Chennai , Gurugram , Hyderabad , Kochi , Kolkata , Mumbai , New Delhi , Noida and Pune Page 1 of 5 Walker Chandiok & Co LLP is registered with limited liability with identification number AAC - 2085 and has its registered office at L - 41 , Connaught Circus , Outer Circle , New Delhi , 110001 , India