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S. Bhandari & Co. Chartered Accountants P - 7 , Tilak Marg , C Scheme , Jaipur - 302 005 Oswal Sunil & Company Chartered Accountants 71 , Daryaganj New Delhi 110 002 Independent Auditors ' Review Report on Standalone Unaudited Quarterly and Year to date Financial Results of HFCL Limited ( ' the Company ' ) pursuant to Regulation 33 of the SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 ( as amended ) To the Board of Directors of HFCL Limited 1. We have reviewed the accompanying Statement of the Unaudited Standalone Financial Results ( ' the Statement ' ) of HFCL Limited ( ' the Company ' ) for the quarter ended September 30 , 2021 and for the period from April 01 , 2021 to September 30 , 2021 , being submitted by the 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 . The Statement is the responsibility of the Company's Management and has been approved by the Company's Board of Directors . Our responsibility is to issue a report on the Statement based on our review of the Statement , which has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 , Interim Financial Reporting ( ' Ind AS 34 ' ) , specified under Section 133 of the Companies Act , 2013 read with relevant rules issues thereunder , and other accounting principles generally accepted in India and in Compliance with Regulation 33 of the Listing Regulations . 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements ( SRE ) 2410 " Review of Interim Financial Information Performed by the Independent Auditor of the Entity " , issued by the Institute of Chartered Accountants of India . This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement . A review of interim financial information consists of making inquiries , primarily of persons responsible for financial and accounting matters , and applying analytical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit . Accordingly , we do not express an audit opinion . 3. Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in the applicable Indian accounting standards ( ' Ind AS ' ) specified under Section 133 of the Companies Act , 2013 , read with relevant rules issued there under and other recognised accounting practices and policies generally accepted in India , has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations including the manner in which it is to be disclosed , or that it contains any material misstatement . For S. BHANDARI & CO . Chartered Accountants Firm Registration No. 000560C BHANDARS CO ( P.D. Baid ) Partner Chartered Accountants Membership No. 072625 UDIN : 21072625AAAAC12748 Place : New Delhi Date : October 11 , 2021 For OSWAL SUNIL & COMPANY Chartered Accountants Firm Registration No. 016520N Bramal ( Sunil Bhansali ) Partner SUNIL & TYMS Chartere Membership No. 054645 COMPANY Accountants UDIN : 21054645AAAABG8109 Place : New Delhi Date : October 11 , 2021