We have audited the financial Statements of Escorts Benefit Trust (the 'Trust') which comprises the Balance Sheet as at 31st March 2024 and the Income & Expenditure account for the year then ended and a summary of significant accounting policies and other explanatory information on that date annexed thereto.
Opinion
In our opinion, the accompanying financial statements give a true and fair view of the financial position of the entity as at 31st March 2024 and of its financial performance for the year then ended in accordance with the Accounting standards issued by the Institute of Chartered Accountants of India (ICAI).
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) issued by ICAI. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the entity in accordance with the ethical requirements that are relevant to our audit of the financial statements and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Trustees and Those Charged with Governance for the Financial Statements
The Trustees are responsible for the preparation and fair presentation of the financial statements in accordance with the aforesaid Accounting Standards, and for such internal control as trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, trustees are responsible for assessing the entity'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 trustees either intends to liquidate the entity or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the entity's financial reporting process.
Auditor's Responsibilities for the Audit of the Financials Statements
Our objectives are to obtain reasonable assurance about whether the financials statements 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 material if, individually or in the aggregate, they could reasonable be expected to influence the economic decisions of users taken on the basis of these financial statements.
For Kapish Jain & Associates
Chartered Accountants
Firm Reg. No. 022743N
CA Kapish Jain
Partner
M.No. 514162
UDIN 24514162BKBHVD1652
Dated: New Delhi
Place: 06 May 2024
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Escorts Kubota Limited is an India-based engineering company. The Company is primarily engaged in the business of manufacturing of agricultural tractors, engines for agricultural tractors, construction, earth moving and material handling equipment, round and flat tubes, heating elements, double acting hydraulic shock absorbers for railway coaches, center buffer couplers, automobile shock absorbers, telescopic front fork & McPherson struts, brake block, internal combustion engines and all types of brake used by railways. It also trades in oils & lubricants, implements, trailers, tractors, compressor accessories and spares, construction, earth moving and material handling equipment. The Companyâs segments include Agri machinery, Construction equipment, Railway equipment and Others. It manufactures Agri-equipment, like tractors, combines, planters, sprayers, and tillage solutions. The Construction equipment segment offers a range of construction and material handling equipment support.
ESCORTS KUBOTA LIMITED 
