Acetech E-Commerce Ltd Auditor Reports

To,

The Board of Directors,

Acetech E- Commerce Limited

(Formerly known as Acetech Ventures Limited and Acetech Ventures LLP)

Gala No 201 to 206, Building No.5, Prithvi Complex,

Reti Bandar Road, Eco House, Kalher, Bhiwandi - 421302

Dear Sir,

1. We have examined the attached Restated Financial Information of Acetech E- Commerce Limited (the “Company” or the “Holding Company” or the “Group” or the “Issuer”) and its subsidiaries comprising the restated consolidated statements of assets and liabilities, the restated consolidated statements of profit and loss, the restated consolidated statements of cash flow and the summary of material accounting policies and other explanatory information including the notes to the restated consolidated financial information as at the financial year ending March 31, 2025 ,March 31, 2024 and standalone statement of assets and liabilities, the restated standalone statements of profit and loss, the restated standalone statements of cash flow and the summary of material accounting policies and other explanatory information including the notes to the restated standalone financial information of Limited Liability Partnership as at the financial year ending March 31, 2023 (collectively, the “Restated Financial Information”), as approved by the Board of Directors of the company for the purpose of inclusion in the Draft Red Herring Prospectus (“DRHP”),prepared by the Company in connection with its proposed SME Initial Public Offer (“SME IPO”) of equity shares at SME Platform of NSE Limited (“NSE SME EMERGE”).

2. These Restated Summary Statements have been prepared in terms of the requirements of:

a. Section 26 of Part I of Chapter III of the Companies Act, 2013 (the “Act");

b. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations"), as amended time to time in pursuance of Section 11 of the Securities and Exchange Board of India Act,1992; and

c. The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India (“ICAI”), as amended from time to time (the “Guidance Note”)

d. The applicable regulation of SEBI (ICDR) Regulations, 2018, as amended, and as per Schedule VI (Part A) (11) (II) of the said Regulations.

3. The Companys Board of Directors is responsible for the preparation of the Restated Financial Information for the purpose of inclusion in the DRHP to be filed with Securities and Exchange Board of India, SME Platform of NSE Limited (“NSE Emerge”), in connection with the proposed IPO. The Restated Financial Information has been prepared by the management of the Company on the basis of preparation stated in Note 1 of Annexure IV to Restated Financial Information. The Board of Directors of the Company and its associates are responsible for designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the respective Restated Financial Information. The respective Board of Directors are also responsible for identifying and ensuring that the Company and its associates comply with the Act, ICDR Regulations and the Guidance Note.

4. 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 in connection with the proposed IPO of equity shares of the issuer;

b. The Guidance Note. 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 Consolidated 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.

5. These Restated Financial Information have been compiled by the management from

a. Audited Consolidated Financial Statements of the Company and its subsidiary including Limited Liability Partnership (LLP) as at and for the financial year ended March 31, 2025 and March 31 2024 prepared in accordance with accounting standards prescribed under Companies (Accounting Standard) Rules, 2021 read with section 133 of the Act and other accounting principles generally accepted in India (the “Audited Financial Statements”) which have been approved by the Board of Directors at their meeting held on September 15, 2025 and September 30,2024

b. Audited Financial Statements of the Limited Liability Partnership (LLP) for the financial year ended on March 31, 2023 which had been approved by the Board of Directors/Partners at their meeting held on September 30, 2023

6. For the purpose of our examination, we have relied on:

a) the Auditors reports issued by us dated September 15, 2025 on Audited Consolidated Financial Statements 2025 as at and for the year ended March 31, 2025 as referred in Paragraph 5(a) above;

b) the Auditors reports issued by Previous Auditor M/s Pankaj K. Jain and Associates, Chartered Accountants dated September 30, 2024 on Audited Consolidated Financial Statements 2024 as referred in Paragraph 5(a) above.

c) the Auditors reports issued by Previous Auditor M/s Pankaj K. Jain and Associates, Chartered Accountants dated September 30, 2023 on Audited Standalone Financial Statements 2023 as referred in Paragraph 5(b) above.

7. Based on our examination and according to the information and explanations given to us and also as per the reliance placed on the audit report submitted by us and the Previous Auditors for the respective years, we report that the Restated consolidated Financial Information:

a. The “Restated Summary Statement of Assets and Liabilities” as set out in Annexure I to this report, of the Company as at and for the financial years ended on March 31, 2025, March 31, 2024, and March 31, 2023 are prepared by the Company and approved by the Board of Directors/Partners. These Restated summary Statement of Assets and Liabilities, have been arrived at after making such adjustments and regroupings to the Consolidated financial statements of the Group and standalone financial statements of the LLP, as in our opinion were appropriate and more these fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV and Annexure XIII to this Report.

b. The "Restated Summary Statement of Profit and Loss" as set out in Annexure II to this report, of the Company as at and for the financial years ended on March 31, 2025, March 31,2024, and March 31, 2023 are prepared by the Company and approved by the Board of Directors/Partners. These Restated Consolidated Summary Statement of Profit and Loss have been arrived at after making such adjustments and regroupings to the Consolidated financial statements of the Group and standalone statement of Profit and Loss of the LLP, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV and Annexure XIII to this Report..

c. The "Restated Summary Statement of Cash flow" as set out in Annexure III to this report, of the Company as at and for the financial years ended on March 31, 2025, March 31, 2024, and March 31, 2023 are prepared by the Company and approved by the Board of Directors/Partners. These Restated Consolidated Summary Statement of Cash flow have been arrived at after making such adjustments and regroupings to the consolidated financial statements of the Group and standalone financial statements of the LLP, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV and Annexure XIII to this Report.

d. The Restated Summary Statement have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

e. The Restated Summary Statements 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;

f. The Restated Summary Statements have been made after incorporating adjustments for prior period and other material amounts in the respective financial years/period to which they relate, if any and there are no qualifications which require adjustments;

g. There are no extra-ordinary items that need to be disclosed separately in the accounts and requiring adjustments.

h. There were no qualifications in the Audit Reports issued by the Statutory Auditors as at and for the financial years ended on March 31, 2025, March 31, 2024, and March 31, 2023 which would require adjustments in this Restated Financial Statements of the Company;

i. 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 IV and Annexure V to this report;

j. There were no changes in accounting policies.

k. There are no revaluation reserves, which need to be disclosed separately in the Restated Consolidated Financial Statements;

l. The company has not proposed any dividend in past effective for the said period.

m. Adequate disclosure has been made in the financial statements as required to be made by the issuer as per schedule III of the Companies Act, 2013.

n. The accounting standards prescribed under the Companies act, 2013 have been followed.

o. The financial statements present a true and fair view of the companys accounts.

8. In our opinion, the above Restated Financial Statements contained in Annexure I to XIII to this report read along with the ‘ Significant Accounting Policies and Notes to the Financial Statements appearing in Annexure IV and V after making adjustments and regrouping / reclassification as considered appropriate and have been prepared in accordance with the provisions of Section 26 and 32 of the Companies Act, 2013 read with the Companies (Prospectus and Allotment of Securities) Rules 2014, to the extent applicable, the SEBI Regulations, the Guidance Note issued in this regard by the ICAI, as amended from time to time, and in terms of our engagement agreed with you.

9. The Restated Financial Information does not reflect the effects of events that occurred subsequent to the respective dates of the reports on the audited financial statements.

10. We, M/s PDMS and Co., 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.

11. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by the Company/LLP Auditors, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

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

13. Our report is intended solely for use of the Board of Directors for inclusion in the Draft Red Herring Prospectus/ Red Herring Prospectus /Prospectus to be filed with Stock exchanges in connection with the proposed IPO. Our report should not be used, referred to or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior consent in writing.

14. In our opinion, the above financial information contained in these Restated Consolidated Financial Statements read with the respective Significant Accounting Polices and Notes to Accounts as set out are prepared after making adjustments and regrouping as considered appropriate and have been prepared in accordance with the Act, ICDR Regulations, Engagement Letter and Guidance Note and give a true and fair view in conformity with the accounting principles generally accepted in India, to the extent applicable.

Annexure -1