Abbott India Ltd Auditor Reports

To the Members of Abbott India Limited Report on the Audit of the Financial Statements

OPINION

1. We have audited the accompanying financial statements of Abbott India Limited (‘the Company), which comprise the Balance Sheet as at March 31, 2025 the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flow and the Statement of Changes in Equity for the year then ended, and notes to the financial statements, including material accounting policy information and other explanatory information. 2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Companies Act, 2013 (‘the Act) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards (‘Ind AS) specified under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015 and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2025 and its Profit (including Other Comprehensive Income), its Cash Flows and the Changes in Equity for the year ended on that date.

BASIS FOR OPINION

3. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Our responsibilities under those standards are further described in the Auditors Responsibilities for the Audit of the Financial Statements 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 (‘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 we have obtained is sufficient and appropriate to provide a basis for our opinion.

KEY AUDIT MATTER

4. Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

5. We have determined the matter described below to be the key audit matter to be communicated in our report.

Key audit matte	How our audit addressed the key audit matter
Provision for non-saleable return
(Refer Note 2.3(l) and 2.3(m) to the accompanying financial statements for material accounting policy information on provision for sales return and Note 17 and 22 for related disclosure)	Our audit procedures relating to provision for non-saleable returns included but were not limited to the following procedures:
	• Obtained an undetanding of managements process and evaluated the design and tested the operating effectiveness of the key controls in relation to provision for non-saleable returns;
The revenue of the Company consists primarily of sale of products through various distributions channel who further sells products in the market. Due to the nature of its business, the Company gives right of return to its custome in respect of goods expiring while being in supply chain before reaching end consume. The amounts pertaining to such sales return are estimated at the time of sale and deducted from revenue and recorded as provisions for sales returns.
	• Assessed the appropriateness of the Companys revenue recognition accounting policy including those related to sales return in accordance with applicable accounting standards;
	• Obtained managements calculations for provision for sales return, recalculated the amounts, and evaluated the reasonableness of assumptions used with reference to historical trends of sales returns, level of inventory in distribution channel, shelf life of the products, price change in/new launch of competitive products and other known facto, based on our undetanding of the business, past practice, industry trends and forecasts;

 

Key audit matte	How our audit addressed the key audit matter
These estimates are based on analysis of historical trends of sales return and shelf life of the products along with other known facto that may significantly impact future sales returns. These estimates are complex and requires significant judgement and estimation by the management for establishing an appropriate accrual. The above complexity leads to a risk of revenue being misstated due to inaccurate estimation of such sales return, and hence, it requires significant Auditorr attention.	• Tested unusual non-standard journal entries based on certain criterias which impacts provision for sales return recognized during the year;
	• Evaluated managements estimates in determining the expected sales return by comparing historical accrued provisions to the actual sales returns and assessed whether the methodology followed is consistent with previous year;
The management has accounted for provision for sales returns amounting to 206.76 Crores as at March 31, 2025 (including reimbuable sales return amounting to 65.26 Crores).	• Performed substantive testing on selected samples of credit notes issued to the custome by testing relevant approvals and underlying supporting documents;
Considering the complexity, significant management estimates and judgments involved, and the significant Auditorr attention required to test such managements judgment and estimates, we have identified this as a key audit matter for the current year.	• T ested the workings in respect of classification of current and non-current provisions for sales return prepared by the management including the underlying assumptions; and
	• Assessed the appropriateness and adequacy of disclosures made in financial statements in accordance with applicable accounting standards.

accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORS REPORT THEREON

6. The Companys Board of Directors are responsible for the other information. The other information comprises the information included in the Annual Report, but does not include the financial statements and our auditors report thereon. The Annual Report is expected to be made available to us after the date of this auditors report.

Our opinion on the financial statements does not cover the other information and we will not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

When we read the Annual Report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance.

RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR THE FINANCIAL STATEMENTS

7. The accompanying financial statements have been approved by the Companys Board of Directors. The Companys Board of Directors are responsible for the matters stated in Section 134(5) of the Act with respect to the preparation and presentation of these financial statements that give a true and fair view of the financial position, financial performance including Other Comprehensive Income, Changes in Equity and Cash Flows of the Company in accordance with the Ind AS specified under Section 133 of the Act and other accounting principles generally accepted in India. 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 judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the

8. In preparing the financial statements, the Board of Director is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matte related to going concern and using the going concern basis of accounting unless the Board of Director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

9. The Board of Director is also responsible for oveeeing the Companys financial reporting process.

AUDITORRS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

10. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditorrs 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 Standards on Auditing 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 reasonably be expected to influence the economic decisions of use taken on the basis of these financial statements.

11. As part of an audit in accordance with Standards on Auditing, specified under Section 143(10) of the Act we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control;

• Obtain an undetanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls;

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management;

• Conclude on the appropriateness of Board of Director use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditorrs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditorrs report. However, future events or conditions may cause the Company to cease to continue as a going concern; and

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

12. We communicate with those charged with governance regarding, among other matte, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

13. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matte that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

14. From the matte communicated with those charged with governance, we determine those matte that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matte. We describe these matte in our Auditorrs report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the advee consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

OTHER MATTER

15. The financial statements of the Company for the year ended March 31, 2024 were audited by the predecessor Auditorr, S R B C & CO LLP, who have expressed an unmodified opinion on those financial statements vide their audit report dated May 09, 2024.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

16. As required by Section 197(16) of the Act, based on our audit, we rep ort that the C ompany has paid remuneration to its Director during the year in accordance with the provisions of and limits laid down under Section 197 read with Schedule V to the Act.

17. As required by the Companies (Auditorrs Report) Order, 2020 (‘the Order) issued by the Central Government of India in terms of Section 143(11) of the Act we give in the Annexure A a statement on the matte specified in paragraphs 3 and 4 of the Order, to the extent applicable.

18. Further to our comments in Annexure A, as required by Section 143(3) of the Act based on our audit, we report, to the extent applicable, that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit of the accompanying financial statements;

b) Except for the matte stated in paragraph 18(h)(vi) below on reporting under Rule 11(g) of the Companies (Audit and Auditor) Rules, 2014 (as amended), in our opinion, proper books of account as required by law have been kept by the Company so far as it appea from our examination of those books. Further, the back-up of the books of accounts and other books and pape of the Company maintained in electronic mode has been maintained on serve physically located in India, on a daily basis except for an application used for processing expenses of field employees where backup taken on daily basis were kept on a server physically located outside India as stated in Note 46(i) to the financial statements;

c) The financial statements dealt with by this report are in agreement with the books of account;

d) In our opinion, the aforesaid financial statements comply with Ind AS specified under Section 133 of the Act;

e) On the basis of the written representations received from the Director and taken on record by the Board of Director, none of the Director is disqualified as on March 31, 2025 from being appointed as a Director in terms of Section 164(2) of the Act;

f) The modification relating to the maintenance of accounts and other matte connected therewith are as stated in paragraph 18(b) above on reporting under Section 143(3)(b) of the Act and paragraph 18(h)(vi) below on reporting under Rule 11(g) of the Companies (Audit and Auditor) Rules, 2014 (as amended);

g) With respect to the adequacy of the internal financial controls with reference to financial statements of the Company as on March 31, 2025 and the operating effectiveness of such controls, refer to our separate report in Annexure B wherein we have expressed an unmodified opinion; and

h) With respect to the other matte to be included in the Auditorrs Report in accordance with rule 11 of the Companies (Audit and Auditor) Rules, 2014 (as amended), in our opinion and to the best of our information and according to the explanations given to us:

i. The Company, as detailed in Note 37 to the financial statements, has disclosed the impact of pending litigations on its financial position as at March 31, 2025;

ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses as at March 31, 2025;

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company during the year ended March 31, 2025;

iv. a. The management has represented that, to the best of its knowledge and belief, as disclosed in Note 45(iii) to the financial statements, no funds have been advanced or loaned or invested (either from borrowed funds or securities premium or any other sources or kind of funds) by the Company to or in any peon(s) or entity(ies), including foreign entities (‘the intermediaries), with the undetanding, whether recorded in writing or otherwise, that the intermediary shall, whether, directly or indirectly lend or invest in other peons or entities identified in any manner whatsoever by or on behalf of the Company (‘the Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf the Ultimate Beneficiaries;

b. The management has represented that, to the best of its knowledge and belief, as disclosed in Note 45(iv) to the financial statements, no funds have been received by the Company from any peon(s) or entity(ies), including foreign entities (‘the Funding Parties), with the undetanding, whether recorded in writing or otherwise, that the Company shall, whether directly or indirectly, lend or invest in other peons or entities identified in any manner whatsoever by or on behalf of the Funding Party (‘Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

c. Based on such audit procedures performed as considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the management representations under subclauses (a) and (b) above contain any material misstatement.

v. The final dividend paid by the Company during the year ended March 31, 2025 in respect of such dividend declared for the previous year is in accordance with Section 123 of the Act to the extent it applies to payment of dividend. the Act to the extent it applies to declaration of dividend.

vi. As stated in Note 46(ii) to the financial statements and based on our examination which included test checks, except for instance mentioned below, the Company, in respect of financial year commencing on or after April 1, 2024 has used an accounting software for maintaining its books of account which have a feature of recording audit trail (edit log) facility and the same have been operated throughout the year for all relevant transactions recorded in the software. Further, during the coue of our audit we did not come across any instance of audit trail feature being tampered with other than the consequential impact of the exception given below. Furthermore, except for instance mentioned above, the audit trail has been preserved by the Company as per the statutory requirements for record retention.

For Walker Chandiok & Co LLP

Chartered Accountants

Firms Registration No.: 001076N/N500013

As stated in Note 15 to the accompanying financial statements, the Board of Director of the Company have proposed final dividend for the year ended March 31, 2025 which is subject to the approval of the membe at the ensuing Annual General Meeting. The dividend declared is in accordance with Section 123 of

Ashish Gupta

Partner

Membehip No.: 504662 UDIN: 25504662BMOOEW3189

Place : Mumbai Date : May 15, 2025

ANNEXURE A REFERRED TO IN PARAGRAPH 17 OF THE INDEPENDENT AUDITORRS REPORT OF EVEN DATE TO THE MEMBE OF ABBOTT INDIA LIMITED ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2025

In terms of the information and explanations sought by us and given by the Company and the books of account and records examined by us in the normal coue of audit and to the best of our knowledge and belief, we report that:

(i) (a) (A) The Company has maintained proper records showing full Particular, including quantitative details and situation of Property, Plant and Equipment, Capital work-in-progress and relevant details of right-of-use assets.

(B) The Company has maintained proper records showing full Particular of intangible assets.

(b) The Company has a regular program of physical verification of its Property, Plant and Equipment, Capital Work- in-progress and relevant details of right-of-use assets under which the assets are physically verified in a phased manner over a period of three yea, which in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. In accordance with this program, certain property, plant and equipment, capital work-inprogress and relevant details of right-of-use assets were verified during the year and no material discrepancies were noticed on such verification.

(c) The title deeds of all the immovable properties held by the Company (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) disclosed in Note 3 to the financial statements, are held in the name of the Company, except for the following properties:

Description of property	Gross carrying value (Rs in Crores)	Held in name of	Whether promoter, Director or their relative or employee	Period held	Reason for not being held in name of company
Building - Chembur, Mumbai	6.35	Boots Pharmaceuticals Limited	No	1996	The property is held in the etwhile name of the Company.
Building - Goregaon, Mumbai	30.34	Solvay Pharma India Limited	No	2009	The said property was acquired by the Company puuant to the Scheme of Amalgamation of Solvay Pharma India Limited with the Company, approved by the Honble High Court and the deed of merger has been filed by the Company.
Building - Chennai	0.16	Duphar Interfan Limited	No	1989	The said property is held in the name of Duphar Interfran Limited, which was demerged into a new entity - Solvay Pharma India Limited (SPIL). SPIL was ultimately merged with the Company and the deed of merger was filed by the Company.
Goa residential building	0.07	Knoll Pharmaceuticals Limited	No	1997	The property is held in the etwhile name of the Company.

(d) The Company has not revalued its Property, Plant and Equipment (including right-of-use assets) or Intangible assets during the year.

(e) No proceedings have been initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (as amended) and rules made thereunder.

(ii) (a) The management has conducted physical verification of inventory at reasonable intervals during the year, except for goods-in-transit and inventory lying with third parties. In our opinion, the coverage and procedure of such verification by the management is appropriate and no discrepancies of 10% or more in the aggregate for each class of inventory were noticed as compared to book records. In respect of inventory lying with third parties, these have substantially been confirmed by the third parties and in respect of goods-in-transit, these have been confirmed from corresponding receipt and dispatch inventory records.

(b) The Company has not been sanctioned working capital limits in excess of five crore rupees by banks or financial institutions on the basis of security of current assets at any point of time during the year. Accordingly, reporting under clause 3(ii)(b) of the Order is not applicable to the Company.

(iii) The Company has not made any investment in, provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured to companies, firms, Limited Liability Partnerships (LLPs) or any other parties during the year. Accordingly, reporting under clause 3(iii) of the Order is not applicable to the Company.

(iv) The Company has not entered into any transaction covered under Sections 185 and 186 of the Act. Accordingly, reporting under clause 3(iv) of the Order is not applicable to the Company.

(v) In our opinion, and according to the information and explanations given to us, the Company has not accepted any deposits or there are no amounts which have been deemed to be deposits within the meaning of Sections 73 to 76 of the Act and the Companies (Acceptance of Deposits) Rules, 2014 (as amended). Accordingly, reporting under clause 3(v) of the Order is not applicable to the Company.

(vi) The Central Government has specified maintenance of cost records under Sub-Section (1) of Section 148 of the Act only in respect of specified products of the Company. For such products, we have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under the aforesaid Section, and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. However, we have not made a detailed examination of the cost records with a view to determine whether they are accurate or complete.

(vii) (a) In our opinion, and according to the information and explanations given to us, undisputed statutory dues including goods and services tax, provident fund, employees state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues, as applicable, have generally been regularly deposited with the appropriate authorities by the Company, though there have been slight delays in a few cases. Further, no undisputed amounts payable in respect thereof were outstanding at the year-end for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us, we report that there are no statutory dues referred in sub-clause (a) which have not been deposited with the appropriate authorities on account of any dispute except for the following:

Name of the Statute	Nature of dues	Gross Amount ( in Crores)	Amount paid under Protest ( in Crores)	Period to which the Amount relates	Forum where dispute is Pending
The Income Tax Act, 1961	Income from house property and disallowance of expenses	50.16	14.14	A.Y. 2004-2005, A.Y. 2016-2017 to A.Y. 2019-2020	Commissioner of Income Tax, Appeals
	Disallowance of expenses*	3.93	-	A.Y. 2008-2009 and A.Y. 2009-2010	Honble High Court of Bombay

 

Name of the Statute	Nature of dues	Gross Amount ( in Crores)	Amount paid under Protest ( in Crores)	Period to which the Amount relates	Forum where dispute is Pending
The Central Excise Act, 1944	Excise Duty	0.03	-	1991-1992	Commissioner (Appeals)
		0.04	-	1994-1995	Commissioner
		0.03	-	1994 and 1997 to 2002	Assistant Commissioner
		0.26		2005-2006	Customs Excise Service Tax Appellate Tribunal (CESTAT)
	Excess Availed and Short Reveal of Credit	4.69	0.18	2014-2015 to 2017-2018	Customs Excise Service Tax Appellate Tribunal (CESTAT), Mumbai
Customs Act, 1962	Custom Duty	0.04	-	1996	Commissioner (Appeals)
		0.75		2011 to 2013	Customs Excise Service Tax Appellate Tribunal (CESTAT)
	Classification Matter	12.60	0.95	2018-2021	Commissioner (Appeals)
	Classification Matter	0.89	0.07	2017-2018 to 2021-2022	Customs Excise Service Tax Appellate Tribunal (CESTAT)
The Bombay Sales Tax Act, 1959	Disputed Setoff	0.40	-	1999-2000	Deputy Commissioner of Sales Tax
The Kerala General Sales Tax, 1963	Tax on Stock Transfer being treated as sale	0.13		2002-2003	Sales Tax Appellate Tribunal, Additional Bench
Central Sales Tax, 1956, Goa	Disallowance ofBranch transfer Value	3.97		2006-2007	Additional Commissioner of Commercial Taxes, Panaji Goa
Central Sales Tax, 1956, Goa	Nonsubmission of declaration forms (F forms)	0.17		2009-2010	Assistant Commissioner of Commercial Taxes, Panaji Goa
The Gujarat Value Added Tax Act, 2003	Tax Invoice Raised without TIN Number	0.13		2017-2018	Gujarat Sales Tax Tribunal
The Goa Value Added Tax Act, 2005	Disallowance of Input Tax Credit (ITC)	0.02		2006-2007	Additional Commissioner of Commercial Taxes, Panaji Goa

 

Name of the Statute	Nature of dues	Gross Amount (Rs in Crores)	Amount paid under Protest (Rs in Crores)	Period to which the Amount relates	Forum where dispute is Pending
The Central Goods & Services Tax Act, 2017	Non-Reveal of ITC on Salable/ Non-Salable Products	4.57	0.20	2017-2018 to 2019-2020	The Joint Commissioner (Appeals), Hyderabad
	Non-Reveal of ITC on Salable/ Non-Salable Products	1.53		2020- 2021 to 2021- 2022	Honble High Court of Telangana, Hyderabad
	Mismatch of ITC	0.71	0.07	2019-2020	Commissioner Appeals - Central Tax Dehradun
	Disallowance ofInput Service Distributor (ISD) ITC Credit	1.19	0.06	2018- 2019 to 2019- 2020	Fit Appellate Authority (Commissioner Appeals, Bhubaneswar)
	Disallowance of Input Tax Credit and Short Payment of RCM Liabilities	0.06		2019-2020 to 2022-2023	The Joint / Additional Commissioner (Appeals)

*Income tax matters decided in favour of the Company where Department is in appeal.

(viii) According to the information and explanations given to us, we report that no transactions were surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961) which have not been previously recorded in the books of accounts. (ix) According to the information and explanations given to us, we report that the Company does not have any loans or other borrowings from any lender. Accordingly, reporting under clause 3(ix) of the Order is not applicable to the Company. (x) (a) The Company has not raised any money by way of initial public offer or further public offer (including debt instruments), during the year. Accordingly, reporting under clause 3(x)(a) of the Order is not applicable to the Company.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or (fully, partially or optionally) convertible debentures during the year. Accordingly, reporting under clause 3(x)(b) of the Order is not applicable to the Company.

(xi) (a) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company or no fraud on the Company has been noticed or reported during the period covered by our audit.

(b) According to the information and explanations given to us including the representation made to us by the management of the Company, no report under Sub-Section 12 of Section 143 of the Act has been filed by the auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014, with the Central Government for the period covered by our audit.

(c) According to the information and explanations given to us, the Company has received whistle blower complaints during the year, which have been considered by us while determining the nature, timing and extent of audit procedures.

(xii) The Company is not a Nidhi Company and the Nidhi Rules, 2014 are not applicable to it. Accordingly, reporting under clause 3(xii) of the Order is not applicable to the Company.

(xiii) In our opinion and according to the information and explanations given to us, all transactions entered into by the Company with the related parties are in compliance with Sections 177 and 188 of the Act, where applicable. Further, the details of such related party transactions have been disclosed in the financial statements, as required under Indian Accounting Standard (Ind AS) 24, Related Party Disclosures specified in Companies (Indian Accounting Standards) Rules 2015 as prescribed under Section 133 of the Act.

(xiv) (a) In our opinion and according to the information and explanations given to us, the Company has an internal audit system which is commensurate with the size and nature of its business as required under the provisions of Section 138 of the Act.

(b) We have considered the reports issued by the Internal Auditors of the Company till date for the period under audit.

(xv) According to the information and explanation given to us, the Company has not entered into any non-cash transactions with its directors or persons connected with its directors and accordingly, reporting under clause 3(xv) of the Order with respect to compliance with the provisions of Section 192 of the Act are not applicable to the Company.

(xvi) (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, reporting under clauses 3(xvi)(a),(b) and (c) of the Order are not applicable to the Company.

(b) Based on the information and explanations given to us and as represented by the management of the Company, the Group (as defined in Core Investment Companies (Reserve Bank) Directions, 2016) does not have any CIC.

(xvii) The Company has not incurred any cash loss in the current financial year as well as the immediately preceding financial year.

(xviii) There has been no resignation of the statutory auditors during the year. Accordingly, reporting under clause 3(xviii) of the Order is not applicable to the Company.

(xix) According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information in the financial statements, our knowledge of the plans of the Board of Directors and management and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report indicating that Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due. (xx) According to the information and explanations given to us, the Company does not have any unspent amounts towards Corporate Social Responsibility in respect of any ongoing or other than ongoing project as at the end of the financial year. Accordingly, reporting under clause 3(xx) of the Order is not applicable to the Company. (xxi) The reporting under clause 3(xxi) of the Order is not applicable in respect of audit of standalone financial statements of the Company. Accordingly, no comment has been included in respect of said clause under this report.

For Walker Chandiok & Co LLP

Chartered Accountants

Firms Registration No.: 001076N/N500013

Ashish Gupta

Partner

Membership No.: 504662 UDIN: 25504662BMOOEW3189 Place : Mumbai Date : May 15, 2025

ANNEXURE B TO THE INDEPENDENT AUDITORRS REPORT OF EVEN DATE TO THE MEMBE OF ABBOTT INDIA LIMITED ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2025

Independent Auditorrs Report on the internal financial controls with reference to the financial statements under Clause (i) of Sub-Section 3 of Section 143 of the Companies Act, 2013 (‘the Act)

1. In conjunction with our audit of the financial statements of Abbott India Limited (‘the Company) as at and for the year ended March 31, 2025 we have audited the internal financial controls with reference to financial statements of the Company as at that date.

RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR INTERNAL FINANCIAL CONTROLS

2. The Companys Board of Director is responsible for establishing and maintaining internal financial controls based on the internal financial controls with reference to financial statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of the Companys business, including adherence to the Companys policies, the safeguarding of its assets, the prevention and detection of frauds and erro, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

AUDITORRS RESPONSIBILITY FOR THE AUDIT OF THE INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

3. Our responsibility is to express an opinion on the Companys internal financial controls with reference to financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India (‘ICAI) prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls with reference to financial statements, and the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (‘the Guidance Note) issued by the ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable

assurance about whether adequate internal financial controls with reference to financial statements were established and maintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to financial statements and their operating effectiveness. Our audit of internal financial controls with reference to financial statements includes obtaining an undetanding of such internal financial controls, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the Auditorrs judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls with reference to financial statements.

MEANING OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

6. A companys internal financial controls with reference to financial statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal financial controls with reference to financial statements include those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and Director of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements.

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

7. Because of the inherent limitations of internal financial controls with reference to financial statements, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls with reference to financial statements to future periods are subject to the risk that the internal financial controls with reference to financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

OPINION

8. In our opinion, the Company has, in all material respects, adequate internal financial controls with reference to

financial statements and such controls were operating effectively as at March 31, 2025 based on the internal financial controls with reference to financial statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note issued by the ICAI.

For Walker Chandiok & Co LLP

Chartered Accountants

Firms Registration No.: 001076N/N500013

Ashish Gupta

Partner

Membehip No.: 504662

UDIN: 25504662BMOOEW3189

Place : Mumbai

Date : May 15, 2025