Abram Food Ltd Auditor Reports

To

The Board of Directors

Abram Food Limited,

605, Pearl Business Park Near Fun Cinema, Netaji Subhash Place, Pitampura, New Delhi, India- 110034

Dear Sir,

We have examined the attached Restated Audited Financial Information of ABRAM FOOD LIMITED comprising the Restated Audited Statement of Assets and Liabilities as at 30th September, 2024, 31st March, 2024, 31st March, 2023 & 31st March, 2022, the Restated Audited Statement of Profit & Loss, the Restated Audited Cash Flow Statement for stub period ended on 30th September, 2024 and for the financial year ended on 31st March, 2024, 31st March, 2023

& 31st March, 2022, the Summary statement of Significant Accounting Policies and other explanatory Information (Collectively the Restated Financial Information) as approved by the Board of Directors in their meeting held on 11.12.2024 for the purpose of inclusion in the Offer Document, prepared by the Company in connection with its Initial Public Offer of Equity Shares (IPO) and prepared in terms of the requirement of:-

a) Section 26 of Part I of Chapter III of the Companies Act, 2013 as amended (the "Act"); b) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018

("ICDR Regulations") as amended (ICDR Regulations"); and related amendments / clarifications from time to time issued by the Securities and Exchange Board of India ("SEBI"); c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered

Accountants of India as amended from time to time. ("The Guidance Note").

The Companys Board of Directors is responsible for the preparation of the Restated Financial Information for the purpose of inclusion in the offer document to be filed with Stock Exchange, Securities and Exchange Board of India, and Registrar of Companies, Delhi in connection with the proposed IPO. The Restated Financial Information has been prepared by the management of the Company for the stub period ended on 30th September, 2024 and for financial year ended on 31st March, 2024, 31st March, 2023, 31st March, 2022 & on the basis of preparation stated in ANNEXURE

D to the Restated Financial Information. The Board of Directors of the companys responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of Restated Financial Information. The board of directors are also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

We have examined such Restated Financial Information taking into consideration: a) The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter dated in connection with the proposed IPO of equity shares of the Company; b) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI; c) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Information; and , d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the IPO.

These Restated Financial Information have been compiled by the management from: a) Audited financial statements of company as at stub period 30th September 2024 and for the financial year ended on 31st March, 2024, 31st March, 2023 & 31st March 2022 prepared in accordance with the Accounting Standards as prescribed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, as amended, and other accounting principles generally accepted in India. For the purpose of our examination, we have relied on: a) Auditors Report issued by us dated 05.12.2024 for the stub period ended on 30th September, 2024 and dated

07/08/2024 for period ended on 31st March, 2024.

b) Auditors Report issued by previous auditor M/s Vikas Singh & Associates dated 01/09/2023 for period ended 31st March, 2023 and accordingly, reliance has been placed on the financial information examined by them for the said years.

c) Auditors Report issued by previous auditor M/s Jatin Tagra & Co. dated 02/09/2022 for period ended 31st March, 2022 and accordingly, reliance has been placed on the financial information examined by them for the said years. d) The audit for the stub period ended on 30th September, 2024 and for the period ended 31st March, 2024 was conducted by us, and accordingly reliance has been placed on the statement of assets and liabilities and statements of profit and loss, the Significant Accounting Policies, and other explanatory information and (collectively, the

Audited Financial Statement") examined by us for the said year.

e) The audit for the year ended on 31st March, 2023 and were conducted by the Previous Statutory Auditors of the Company M/s Vikas Singh & Associates, and accordingly, reliance has been placed on the statement of assets and liabilities and statement of profit & loss, the Significant Accounting Policies, and other explanatory information and (collectively, "the Audited Financial Statement") examined by them for the said years.

f) The audit for the year ended on 31st March, 2022 and were conducted by the Previous Statutory Auditors of the Company M/s Jatin Tagra & Co., and accordingly, reliance has been placed on the statement of assets and liabilities and statement of profit & loss, the Significant Accounting Policies, and other explanatory information and (collectively, "the Audited Financial Statement") examined by them for the said years.

The modification in restated financials were carried out based on the modified reports, if any, issued by us which giving rise to modifications on the Financial Statement of stub period ended 30th September, 2024 and financial year ended on 31st March, 2024, 31st March 2023 & 31st March, 2022. There is no qualification of statutory auditor for the Financial Statement of stub period ended 30th September, 2024 and financial year ended on 31st March, 2024, 31st March 2023 & 31st March, 2022.

The audit reports on the financial statements were modified and included following matter(s) giving rise to modifications on the Financial Statement of stub period ended 30th September, 2024 and financial year ended on 31st March, 2024, 31st March 2023 & 31st March, 2022:

a) The Restated Financial Information or Restated Summary Financial Statement have been made after incorporating adjustments for the changes in accounting policies retrospectively in respective financial period/years to reflect the same accounting treatment as per the changed accounting policy for all reporting periods, if any;

b) The Restated Financial Information or Restated Summary Financial Statement have been made after incorporating adjustments for prior period and other material amounts in the respective financial years/period to which they relate and there are no qualifications which require adjustments;

c) Extra-ordinary items that needs to be disclosed separately in the accounts has been disclosed wherever required;

d) There were no qualifications in the Audit Report issued by us for the financial year the ended on 31st March 2024 and issued by previous auditor for financial year ended on 31st March,2023 and 31st March 2022 which would require adjustments in this restated financial statements of the Company;

e) Profits and losses have been arrived at after charging all expenses including depreciation and after making such adjustments/restatements and regroupings as in our opinion are appropriate and are to be read in accordance with the Significant Accounting Polices and Notes to Accounts as set out in ANNEXURE D to this report;

f) Adjustments in Restated Financial Information or Restated Summary Financial Statement have been made in accordance with the correct accounting policies,

g) There was no change in accounting policies, which needs to be adjusted in the Restated Financial Information or Restated Summary Financial Statement, except as stated in Notes to Restated Financial Statement;

h) There are no revaluation reserves, which need to be disclosed separately in the Restated Financial Information or Restated Summary Financial Statement.

i) The related party transaction for purchase & sales of Goods entered by the company are at arms length price. j) The Company has not paid any dividend since its incorporation.

In accordance with the requirements of Part I of Chapter III of Act including rules made there under, ICDR Regulations, Guidance Note and Engagement Letter, we report that:

a) The "Restated Statement of Assets and Liabilities" as set out in ANNEXURE A to this report, of the Company as at stub period ended 30th September, 2024 and as at Financial Year Ended on 31st March 2024, 31st March 2023 & 31st March 2022 is prepared by the Company and approved by the Board of Directors. These Restated Summary Statement of Assets and Liabilities have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in ANNEXURE D to this Report.

b) The "Restated Statement of Profit and Loss" as set out in ANNEXURE B to this report, of the Company for the stub period ended on 30th September, 2024 and for the financial year ended on 31st March, 2024, 31st March 2023 and 31st March 2022 is prepared by the Company and approved by the Board of Directors. These Restated Summary Statement of Profit and Loss have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in ANNEXURE D to this Report.

c) The "Restated Statement of Cash Flow" as set out in ANNEXURE C to this report, of the Company for the stub period ended on 30th September, 2024 and for the Financial year ended on 31st March, 2024, 31st March, 2023 & 31st March, 2022 is prepared by the Company and approved by the Board of Directors. These Statement of Cash Flow, as restated have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in ANNEXURE D to this Report.

(d) Audit for the stub period ended as on 30th September, 2024 and for the financial year ended on 31st March, 2024 was conducted by us, by previous Auditor M/s Vikas Singh & Associates for financial year ended 31st March, 2023 & by previous previous auditor M/s Jatin Tagra & Co. for the year ended on 31st March, 2022. Financial Reports included for said years are solely based on report submitted by us for the stub period ended on 30th September, 2024 and for the financial year ended on 31st March 2024, by previous auditor M/ s Vikas Singh & Associates for financial year ended 31st March, 2023 & by previous previous auditor M/s Jatin Tagra & Co. for the year ended on 31st March, 2022.

We have also examined the following other financial information relating to the Company prepared by the Management and as approved by the Board of Directors of the Company and annexed to this report relating to the Company for the stub period ended on 30th September, 2024 and for the financial year ended on 31st March, 2024,

31st March, 2023 & 31st March, 2022 and proposed to be included in the Draft Prospectus / Prospectus ("Offer Document") for the proposed IPO.

Restated Statement of Share Capital, Reserves and Surplus	Annexure A.1 & Annexure A.2
Restated Statement of Share Application Money Pending Allotment	Annexure A.3
Restated Statement of Deferred Tax (Assets) / Liabilities	Annexure A.4
Restated Statement of Secured Long Term and Short Borrowings	Annexure A.5
Restated Statement of Trade Payables	Annexure A.6
Restated Statement of Other Current Liabilities	Annexure A.7
Restated Statement of Short-Term Provisions	Annexure A.8
Restated Statement of Fixed Assets	Annexure A.9
Restated Statement of Other Non-Current Assets	Annexure A.10
Restated Statement of Inventories	Annexure A.11
Restated Statement of Trade Receivables	Annexure A.12
Restated Statement of Cash & Bank Balance	Annexure A.13
Restated Statement of Short-Term Loans & Advances	Annexure A.14
Restated Statement of Revenue from Operations	Annexure B.1
Restated Statement of Other Income	Annexure B.2
Restated Statement of Cost of Material Consumed	Annexure B.3
Restated Statement of Purchase of Stock-in-Trade	Annexure B.4
Restated Statement of Changes in inventories of finished goods and stock in traded	Annexure B.5
Restated Statement of Employee Benefit Expenses	Annexure B.6
Restated Statement of Finance Cost	Annexure B.7
Restated Statement of Other Expenses	Annexure B.8
Restated Statement of Current Tax & Deferred Tax	Annexure B.9
Statement of Material Adjustment to the Restated Financial Statement	Annexure E
Restated Statement of Capitalization	Annexure F
Restated Statement of Contingent Liabilities	Annexure G
Restated Statement of Significant Accounting Ratios	Annexure H
Restated Statement of Related Party Transactions	Annexure I
Restated Standalone Statement of Tax Shelters	Annexure J

In our opinion and to the best of information and explanation provided to us, the Restated Financial Information of the Company, read with significant accounting policies and notes to accounts as appearing in ANNEXURE D are prepared after providing appropriate adjustments and regroupings as considered appropriate.

We, Gaur & Associates, Chartered Accountants have been subjected to the peer review process of the Institute of

Chartered Accountants of India ("ICAI") and hold a valid peer review certificate issued by the "Peer Review Board" of the ICAI.

The preparation and presentation of the Financial Statements referred to above are based on the Audited financial statements of the Company and are in accordance with the provisions of the Act and ICDR Regulations. The Financial Statements and information referred to above is the responsibility of the management of the Company.

The report should not in any way be construed as a re-issuance or re-dating of any of the previous audit reports issued by any other Firm of Chartered Accountants nor should this report be construed as a new opinion on any of the financial statements referred to therein.

We have no responsibility to update our report for events and circumstances occurring after the date of the report.

In our opinion, the above financial information contained in ANNEXURE A to J of this report read with the respective Significant Accounting Polices and Notes to Accounts as set out in ANNEXURE D are prepared after making adjustments and regrouping as considered appropriate and have been prepared in accordance with the Companies Act, ICDR Regulations, Engagement Letter and Guidance Note.

Our report is intended solely for use of the management and for inclusion in the Offer Document in connection with the IPO- SME for Proposed Issue of Equity Shares of the Company and our report should not be used, referred to or distributed for any other purpose without our prior consent in writing.

For Gaur & Associates Chartered Accountants

FRN: 005354C

Peer Review No. 015852

Sd/-

Satish Kr. Gupta

Partner

M. No.: 016746

Peer review No.: 015852

UDIN: 24016746BKCACP2348

Date: December 11, 2024

Place: Delhi