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S.R. BATLIBOI & ASSOCIATES LLP Chartered Accountants 4th Floor , Office 405 World Mark - 2 , Asset No. 8 IGI Airport Hospitality District , Aerocity New Delhi 110 037 , India Tel : +91 11 4681 9500 Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone 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 Affle ( India ) Limited Report on the audit of the Standalone Financial Results Opinion We have audited the accompanying statement of quarterly and year to date standalone financial results of Affle ( India ) Limited ( the " Company " ) for the quarter ended March 31 , 2021 and for the year ended March 31 , 2021 ( " Statement " ) , 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 ( the “ Listing Regulations " ) . In our opinion and to the best of our information and according to the explanations given to us , the Statement : i . ii . is presented in accordance with the requirements of the Listing Regulations in this regard ; and gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India , of the net profit and other comprehensive income and other financial information of the Company for the quarter ended March 31 , 2021 and for the year ended March 31 , 2021 . 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 , as amended ( " 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 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 . Emphasis of Matter We draw attention to Note 4 to the accompanying financial results , which indicate that business combination under common control has been accounted for using purchase method in accordance with previous GAAP resulting in the recognition of goodwill of amounting INR 59.24 Mn as on March 31 , 2021 as prescribed under court scheme instead of using pooling interest method as prescribed under Ind AS 103 - Business Combinations as the approved court scheme will prevail over applicable accounting standard . Our conclusion is not modified in respect of this matter . Management's Responsibilities for the Standalone Financial Results The Statement has been prepared on the basis of the standalone annual financial statements . The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the applicable accounting standards 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 LIBO ASSO 71 S.R. Batliboi & Associates LLP , a Limited Liability Partnership with LLP Identity No. AAB - 4295 Regd . Office 22 , Camac Street , Block ' B ' , 3rd Floor , Kolkata - 700 016