Deloitte

Haskins & Sells

Chartered Accountantt
Bengal lnlelligent Park
Buildinq Alpha, lst Floor
Block - tP 6 Ge Sector - V
Salt Lake Electronrcs Complex

Kolkata - 7oo
lndia

09l

Tel. : +91 (33) 6612 1000

Fax : +91 (33)

6612

1001

INDEPENDENT AUDITORS' REVIEW REPORT

TO THE BOARD OF DIRECTORS OF

TIL LIMITED
t.

We have reviewed the accompanying Statement of Consolidated Unaudited Financial

Results of TIL LIMITED ("the Company") and its subsidiaries (the Company and its

subsidiaries constitute "the Group") for the Quarter ended j0 June 2015 (.,the Statement"),
being submitted by the Company pursuant to Clause 41 ofthe Listing Agreements with the
Stock Exchanges, except for the disclosures in Part lt - Select Information referred to in
paragraph 6 below. This Statement is the responsibility ofthe Company's Management and
has been approved by the Board of Directors. Our responsibility is to issue a report on the
Statement based on our review.
2.

We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410 "Review of Interim Financial Information Perfomed 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 ofmaterial misstatement. A review is limited
primarily to inquiries ofCompany personnel and analytical procedures applied to financial
data and thus provides less assurance than an audit. We have not performed an audit and,
accordingly, we do not express an audit opinion.
The Statement includes the results ofthe following subsidiaries:
(a) Tractors India Private Limited,
(b) Tractors Nepal Pdvate Limited and
(c) Til Overseas Pte Ltd.

4.

We did not review the interim financial statements of 2 subsidiaries included in the
consolidated financial results, whose interim financial statements reflect total revenues of
881 lacs for the Quarter ended 30 June 2015 and total loss after tax of{ 369 lacs for the
Quarter ended 30 June 2015, as considered in the consolidated financial results. These
interim financial statements have been reviewed by other auditors whose reports have been
lumished to us by the Management and our report on the Statement, in so far as it relates
to the amounts and disclosures included in respect ofthese subsidiaries, is based solely on
the reports ofthe other auditors.

5.

Based on our review conducted as stated above and based on the consideration of the
reports of the other auditors referred to in paragraph 4 above, nothing has come to our
attention that causes us to believethat the accompanying Statement, prepared in accordance
with the Accounting Standards specified under Section 133 ofthe Companies Act, 2013,
read with Rule 7 ofthe Companies (Accounts) Rules, 2014 and other accounting principles
generally accepted in India, has not disclosed the information required to be disclosed in
terms of Clause 4l of the Listing Agreements with the Stock Exchanges, including the
manner in which it is to be disclosed, or that it contains any material misstatement.

Deloitte
Haskins & Sells

Further, we also report that we have traced the numbr ofshares as well as the percentage
ofshareholding in respect ofthe aggegate amount ofpublic shareholding and the number
ofshares as well as the percentage ofshares pledged/encumbered and non-encumbered in
respect ofthe aggregate amount ofpromoters and promoter group shareholding in terms of
Clause 35 ofthe Listing Agreements with the Stock Exchanges and the particulars relaling
to investor complaints disclosed in Part II - Select Information for the Quarter ended 30
June 2015 ofthe Statement, from the details fumished by the Registrars.

For DELOITTE HASKINS & SELLS

Chartered Accountants
(Firm's Registration No. 302009E)

ryqk\
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Kolkata, 7 August, 2015

\Accoln,anrs/

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A. Bhattacharya

Purtr".
(Membership No. 0541 10)

TIL LIMITED
CIN : 174999W81974PLC041725
Regd.Ofii.e l,Tararolla Road, Gaden Reach, Kolkata - 700024
Phone r +91 33 6633 2000 / 2A45. Fa\: +91 33 2469 2143 I 3731
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Deloitte

Chartered Ac<ountant5
Bengal lntelliqent Park
Building Alpha, l5t Floor
Blo(k - EP 6 GB Sector - V
5alt Lake Electroni(s Complex
Kolkata - 700 091

Haskins & Sells

lndia
Tel. r+91 (33) 6612 1000
Fax | +91 (33) 6612 1001.

INDEPENDENT AUDITORS' REVIEW REPORT

TO THE BOARD OF DIRECTORS OF

TIL LIMITEI)

l. We have reviewed the accompanying Statement of Standalone Unaudited Financial

Results of TIL Limited ("the Company") for the Quarter ended 30 June 2015 ("the
Statement"), being submitted by the Cornpany pursuant to the requirement of Clause 4l
ofthe Listing Agreements with the Stock Exchanges, except for the disclosures in ParI II
- Select Inforn.ration refered to in paragraph 4 below. This Statement is the responsibility
of the Company's Management and has been approved by the Board of Directors. Our

responsibility is to issue a report on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410'Review of Interim Financial Inforrnation Performed by the
lndependent Auditor of the Entity', issued by the Institute of Charlered Accountants of
lndia. This Standard requires lhat we plan and perfonn the review to obtain rnoderate
assurance as to whether the Statement is free of material rnisstatement. A review is
limited prirnarily to inquiries of Company personnel and analy4ical procedures applied to
financial data and thus provides less assurance than an audit. We have not performed an
audit and, accordingly, we do not express an audit opinion.
J.

Based on our review conducted as stated above, nothing has corne to our attention that
to believe that the accompanying Statement, prepared in accordance with the
Accounting Standards specified under Section 133 ofthe Companies Act,20l3, read with
causes us

Rule 7 of the Companies (Accounts) Rules, 2014 and other accounting principles
generally accepted in India, has not disclosed the information required to be disclosed in
terms of Clause 4l of the Listing Agreements with the Stock Exchanges, including lhe
rnanner in which it is to be disclosed, or that it contains any material misstatement.
4.

Further, we also report that we have traced the number of shares as well as the percentage
ofshareholding in respect ofthe aggregate amount ofpublic shareholding and the number
of shares as well as the percentage of shares pledged/encumbered and non-encumbered in
respect of the aggregate amount of promoters and promoter group shareholding in terms
of Clause 35 of the Listing Agreements with the Stock Exchanges and the particulars
relating to investor complaints disclosed in Part II - Select Information for the Quarter
ended 30 June 201 5 of the Statement, from the details furnished by the Registrars.

For DELOITTE HASKINS & SELLS

Chartered Accountants

(Firm's Registration No. 302009E)

^*M
Partner

(Membership No. 0541 l0)

Kolkata, 7 August,

201 5

TIL LIMITED
CIN : 174999W8197,1P1C041725
Rogd.Office : l,Taratolla Road, Garden Reach, xolkala - 700024
Phone:+9133 6633 20m / 28215. Fax:19133246921i13/3731

Website : ww.lilindia.in

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