Ameenji Rubber Ltd Auditor Reports

To

The Members of.

AMBENJI RUBBER LIMITED

Report on the Audit of the Financial Statements

Opinion

We have audited the financial statements of AMEENJI RUBBER LIMITED
(‘the Company"), which comprise the Balance Sheet as at 31^st March 2025,
the Statement of Profit and Loss, including Other Comprehensive Income.
Statement of Cash Flows for the year then ended, and notes to the financial
statements, including material accounting policy information and other
explanatory information (hereinafter referred to as the "Financial
Statements").

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 accounting
principles generally accepted in India, of the state of affairs of the Company
as at March 31*. 2025, the profit and total comprehensive income, and its
cash flows for the year ended on that date

Basis for Opinion

We conducted our audit of the Financial Statements in accordance with the

Standards on Auditing (SAs) 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 oui

report. We arc 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

INDEPENDENT AUDITORS REPORT

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 obtained by us and with the consideration of the report ol
the branch auditor referred to in the "Other Matters* section below is
sufficient and appropriate to provide a basis for our opinion.

Information Other than tho Financial Statements and Auditors Report
Thereon:

The Companys Board of Directors is responsible for the preparation of the
other information. The other information comprises the information included
in the Management Discussion and Analysis, Boards Report including
Annexures to Boards Report, Business Responsibility Report, Corporate
Governance and Shareholders Information, but does not include the financial
statements and our auditors report thereon.

Our opinion on the financial statements does not cover the other information

and wc do not express any lbrm of assurance conclusion thereon,

In connection with our audit of the financial statements, our responsibility is
to read the oilier information and. in doing so. consider whether the oilier
information is materially inconsistent with the financial statements, or our
knowledge obtained during the course of our audit or otherwise appears to be
materially misstated

If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to communicate the
mutter to those charged with governance under SA 720 The Auditors
lesponsibilities Relating to Other Information. We have nothing to report in
this regard

Managements Responsibility for the Financial Statements

The Companys Board of Directors is responsible lor the matters stated in
Section 134(5) of the Companies Act, 2013 ("the Act) with respect to the
preparation of these financial statements that give a true and fair view of the
financial position, financial performance and cash flows of the Company in
accordance with the accounting principles generally accepted in India,
including the Accounting Standards specified under Section 133 of the Act,
read with Rule 7 of the Companies (Accounts) Rules. 2014. This
responsibility also includes maintenance of adequate account ing records in
accordance with the provisions of the Act for safeguar ding of the assets of
the Company and lor 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 accounting records, relevant to the preparation and
presentation of the financial statements that give a true and fair view and
arc free from material misstatement, whether due to fraud or error.

In preparing the Financial Statements, the Management and Board of
Directors are responsible for assessing the Companys ability to coniinur as
a going concern, disclosing, as applicable, matters related to going concern
and using the going concern basis of accounting unless the Board of
Directors either intends to liquidate the Company or to cease operations, or
has no realistic alternative but to do so

The Board of Directors is also responsible lor overseeing the Companys
financial reporting process.

Auditors Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial
statements as a whole arc free from material misstatement, whether due to
fraud or error, and to issue an auditors report that, includes our opinion
Reasonable assurance is a high level of assurance but is not a guarantee dial

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 aggregate, they could reasonably
be expected to influence the economic decisions of users taken on the basis
of these financial statements.

As part of an audit in accordance with SAs. we exercise professional judgment
and maintain professional skepticism throughout the audit. We arc 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
controls.

• Obtain an understanding of internal financial controls relevant to the
audit in order to design audit procedures that are appropriate in the
circumstances. Under sccuon 143j3)(i: of the Act, wc arc also responsible
for expressing our opinion on whether the Company has an adequate
internal financial controls system 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 uppropriatcncss of managements 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 wc conclude that a material uncertainty exists, wc arc
required to draw attention in our auditors 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 auditors However, future

events or conditions may cause the Company to cease to continue as a
going concern.

• 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.

• Materiality is the magnitude of misstatements in the financial statements
that, individually or in aggregate, makes it probable that the economic
decisions of a reasonably knowledgeable ust:r of the financial statements
may be influenced We consider quantitative materiality und qualitative
factors in (i: planning the scope of our audit work and in evaluating the
results of our work; and iii) to evaluate the effect of any identified
misstatements in the financial statements.

We communicate with those charged with governance regarding, among other
matters, 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.

Wc nlso provide those charged with governance with a statement that wc have
complied with relevant ethical requirements regarding independence, and to
communicate with them all relationships and other matters that mav
reasonably be thought to boar on our independence, and where applicable,
related safeguards.

From die matters communicated with those charged with governance, we
determine those matters that were of most significance in the audit of the
finuncial statements of the current period and are therefore the key audit
matters. Wc describe these matters in our auditors 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 adverse consequences of doing so would reasonably
be expected to outweigh die public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1 As required by the Companies (Auditors Report) Order 2020 :"thc Order"),
issued by the Central Government of India in terms of sub-section (11) of
secuon 143 of the Act, we give in ‘Annexure A" a statement on the matters
specified in paragraphs 3 and 4 of the Order, to the extent applicable.

2. As required by Section 143 (3) of the Act. we report that:

a) We have sought and obtained all the information and explanations
which to tile best of our knowledge and belief were necessary for the
purposes uf our audit.

b) In our opinion, proper books of account as required by law have been
kept by the Company so for as it appears from our examination of
those books except for the matters stated in the paragraph 2(i::vi:
below on reporting under Rule 11(g) of the Companies (Audit &
Auditors) Rules, 2014 as amended.

c) In our opinion, proper books of account as required by law have been
kept by the Company so far as it appears from our examination of
those books except for the matters stated in the paragraph 2(i):vi)
below on reporting under Rule ll)gl of the Companies (Audit &
Auditors) Rules. 2014 as amended.

d: in our opinion, the aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act.
e) On the basis of the written representations received from the directors
as on 31? March 2025 taken on record by the Board of Directors,
none of tht directors are disqualified as on 31^st March 2025 from being
appointed as a director in terms of Secuon 164 (2: of the Act.
f: With respect to the adequacy of the internal financial controls over
financial reporung of the Company and the operating effectiveness of
such controls, refer to our separate Report in Annexure S*
g) With respect to the other matters to be included in the Auditors Report
in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:

i The Company has disclosed the impact of pending litigations on

its financial position in its financial statements to the financial
statements.

11 The Company did not have any long-term contracts including
derivative contracts lor which there were any material foreseeable
losses.

iii. There were no amounts which were required to be transferred to
the Investor Education and Protection Fund by the Company

iv The management has represented that, to the best of its knowledge
and belief, no funds (which are material either individually or in
the aggregate! have been advanced or loaned or invested (cither
from borrowed funds or share premium or any other sources or
kind of funds) by the Company to or :n any other person or entity,
including foreign entity ("Intermediaries"), with the understanding,
whether recorded in writing or otherwise, that the Intermediary
shall, whether, direcdv or indirectly lend or invest m other persons
or entities identified in any manner whatsoever by or on behalf of
the Company ("Ultimate Beneficiaries") or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries.

The management has represented diat. to the best or its knowledge
and belief, no funds (which are material either individually or in
the aggregate! nave been received by the company from any person
or entity, including foreign entity with die understanding, whether
recorded in writing or otherwise that the company shall, whether
directly or indirectly, lend or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Funding
parly("Ultimate Beneficiaries") or provide any guarantee, security
or the like on behalf of the Ultimate Beneficiaries
v The company has neither declared nor paid any dividend during
Hie year as per Section 123 of the Act

vi. Based on our examination, which included test checks, the
Company has used accounting softwares for maintaining its books
of account for die financial year ended March 31^w . 2025. which
has a feature of recording audit trail (edit log) facility and the same

has operated throughout the year for all relevant transactions
recorded in the softwares. Further, during the course of our audit
we did not come across any instance of the audit trail feature being

vii. As proviso to Rule 3(1) of the Companies (Accounts) Rules, 20 Id is
applicable from April I. 2023. reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules, 20H on preservation of
audit trail as per the statutory requirements for record retention is
not applicable for the financial year ended March 31,2025.

tampered with.

Annexure A

To Independent Auditors Report of Even Date on the Financial .Statements ol
AMEENJI RUBBER LIMITED for the Year Ended March 31, 2025.

[Referred to in paragraph 1 under Report on Other Legal and Regulatory
Requirements in the Independent Auditors Report]

t (a: The Company has maintained proper records showing full
particulars including quantitative details and situation of all major
fixed assets.

(b) A major portion of fixed assets have been physically verified by the
management during the year at reasonable intervals: no materia!
discrepancies were noticed on such verification

lei The title deeds of the immovable property are held in the name of
the company.

:i :a) As explained to us. line inventory has been physically verified by the
management during the year at reasonable intervals,
lb} In our opinion and according to the information and explanation
given to us, the procedures of physical verification of inventories
followed by the Management were reasonable and adequate in
relation to the size of the Company and the nature of its business

(c) In our opinion and according to the information and explanations
given to us, the Company has maintained proper records of its
inventories and no material discrepancies were noticed on physical
verification of stocks as compared to book records

iii. In our opinion and according to the information and explanation given
to us, the company has not granted any loans, secured or unsecured
to companies, firms. Limited Liability Partnership or other parties
covered in die register maintained under section 189 of the Companies
Act 2013. Accordingly, die reporting requirements under sub-clause
(a), (b) and (c) of Clause (iii: of paragraph 3 of the order aie not
applicable.

iv. In our opinion and according to the information and explanations given
to US. the Company lias complied with the provisions of section 185
and 186 of the Act. with respect to the loans and investments made.

v. According to the information and explanations given to us, the
Company has neither accepted any deposits from the public nor any
amounts which arc deemed to be deposits, within the meaning of
Sections 73. 74. 75 ai d 76 of the Act and the rules framed there under.
Accordingly, the prov.sion stated under clause 3(v) of the Order are not
applicable to Lite Company.

vi. The provisions of sub-Section (1) of Section 148 of the Act are not
applicable to the Company as the Central Government of India has not
specified Lhc maintenance of cost records for any of the services of the
Company.

vii :g) According to the information and explanations given to us and on
the basis of our examination of the records of the Company is
having following vindisputed statutory dues (demands raised by the
Regulatory authorities) as follows:

S. No Particulars	Amount in Lakhs
1 Income Tax AY 2018-19	19.96
2 Income Tax AY 2019-20	0.390
3 Income Tax AY 2022-23	16.93
4 Income Tax AY 2023-24	14.13
5 Income Tax AY 2024-25	3.16
6 TDS <FY 2021-22 to 2025-26)	5.10
7 GST (April 2018- March 2019)	89.51

:b: According to the information and explanations given to us and the
records uf the company examined bv us, there arc No dues other
than mentioned above as at 31 • March 2025.

viii. According to the information and explanations given to us, the company
has paid managerial remuneration in accordance with requisite
approvals mandated by the provisions of section 197 read with
schedule V to the act.

ix According to the information and explanations given to us. there are no
transactions which are not accounted in the books of account which
have been surrendered or disclosed as income during the year in
Income-tax Assessment of the Company Accordingly, ihe provisions
suited under clause 3(viii) of the Order are not applicable to the
Company

x According to the information and explanations given to us and on the
basis of examination of the records, the Company has not defaulted in
the repayment of loans along with interest to any financial institutions,
banks or dues to debenture- holders as at the balance sheet date

xi. a) in our opinion and according to the information explanation given

to us, the Company did not raise any money by way of initial public
offer or further public offer (including debt, instruments! during the
year Accordingly, the provisions stated under clause 3<x)(al of The
Order are not applicable to the Company,
b) According to the information and explanations given to us and
based on our examination of the records of the Company, the
Company has not made any preferential allotment or privutc
placement of shares or fully, partly, or optionally convertible
debentures during the year. Accordingly, the provisions stated
under clause 3(xj(b) of the Order are not applicable to the Company

xii. According to the information and explanations given to us. no fraud by
the Company or on the Company by its officers or employees has been
noticed or reported during the course of our audit.

xiii. The Company is not a Nidlii Company. Accordingly, the provisions
stated under clause 3(xii)(u) to (c) of the Order are not applicable to the
Company

xiv According to the information and explanation given to us and based on
our examination of the records of the company, all transactions with
the related parties are in compliance with sections 177 and 188 of
Companies Act where applicable and the details have been disclosed in
the financial statements, etc., as required by the applicable accounting
standards.

xv. According to the information and explanations given to us and based
on our examination the company have nn internal audit system and
reports of the internal auditors been considered by the statutory
auditor.

xvi. According to the information and explanations given to us, in our
opinion, during the year, the Company has not entered any non-cash
transactions with directors or persons connected with its directors and
accordingly, the reporting on compliance with the provisions of Section
192 of the Act in clause 3{xv) of the Order is not applicable to the
Company.

xvii. The Company is not required to be registered under section 45-IA of the
Reserve Bank of India Act, 1934.

xviii Based on the overall review of Financial Statements, the Company has
not incurred cash losses in the current financial year and in the
immediately preceding financial year Accordingly, the provisions
stated under clause 3:xvii: of the Order are not applicable to the

Company.

xix. There lias been an instance of resignation of the statutory auditors
occurred during the year and there were no issues, objections or
concerns raised by the ongoing auditors.

xx According to the information and explanations given to us and based
on our examination of the records of the Company, the company is able
to pay off the existing liabilities for next one year and material
uncertainty doesnt exist as on date of audit report.

xxi. CSR is not applicable to this company.

xxii There tire no adverse remarks in the audit reports issued by the
respective auditors in case of companies included in the consolidated
Financial statements.

Anncxure B To Independent Auditors Report of Even Date on the Financial
Statements of AMEENJI RUBBER LIMITED for the Year Ended March 31.
2023

(Referred to in Paragraph 2(f) under ‘Report on Other Legal and
Regulatory Requirements in the Independent Auditors Report of even
date to the members Amcenji Rubber Limited on the financial
statements for the year ended March 31. 2025]

Report on the Internal Financial Controls under Clause (i) of Sub-section
3 of Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of M/s
AMEENJI RUBBER LIMITED ("the Company*) as of 31* March 2025 in
conjunction with our audit of the financial statements of the Company for the
year ended on that date.

In our opinion, the Company in all material respects, an adequate internal
financial control with reference to financial statements and such internal
financial controls with reference to financial statements were operating
effectively as at March 31. 2025. based on the internal control with reference
to financial statements criteria established by the Company considering the
essential components of internal control slated in the Guidance Note on Audit
of Internal Financial Controls Over Financial Reporting issued by the Institute
of Chartered Accountants of India (ICAlj (the "Guidance Note").

Opinion

Managements and Board of Directors Responsibility for Internal
Financial Controls

The Companys management and Board of Directors is responsible for
establishing and maintaining internal financial controls based on the internal
control Over financial reporting 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 or India flCAf).
These responsibilities include the design, implementation and maintenance
or adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business, including
adherence to companys policies, the safeguarding of its assets, the prevenuon
and detection of frauds and errors, the accuracy and completeness of the
accounting records, and the timely preparation of reliable financial
information, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal
financial controls over financial reporting based on our audit. We conducted
our audit in accordance with the Guidance Note on Audit of Interna! Financial
Controls over Financial Reporting (the "Guidance Note") and the Standards
on Auditing, issued by 1CA1 and deemed to be prescribed under section
143(10) of tile Companies Act. 2013. to the extent applicable to an audit of
internal financial controls, both applicable to an audit of Internal Financial
Controls and both issued by the Institute of Chartered Accountants oflndia
1 hose Standards and the Guidance Note require that wc comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance
about whether adequate internal financial controls over financial reporting
was established and maintained and if such controls operated effectively in
all material respects

Our audit involves performing procedures to obtain audit evidence about the
adequacy of the internal financial controls system over financial reporting and
their operating effectiveness. Our audit of internal financial controls over
financial reporting included obtaining an understanding of internal financial
controls over financial reporting, assessing llie risk that 3 material weakness
exists, and testing and evaluating die design and operating effectiveness of
internal control bused on the assessed risk The procedures selected depend
on the auditors judgment, including the assessment of the risks of matenal
misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis tor our audit opinion on the Companys internal
financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A companys internal financial control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of financial
reporting and die preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A companys
internal financial control over financial reporting includes those policies and
procedures that (11 pertain to die 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 arc
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
authorizations of management and directors of the company; and (3) provide
reasonable assurance regarding prevention or timely detection of un-
authorized acquisition, use, or disposition of the company s assets that could
have a material effect on the financial statements

Inherent Limitations of Internal Financial Controls Over Financial

Reporting

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

For M M REDDY & CO.

Chartered Accountants

Firm Reg NO.010371S

 

Date: 10-09-2025

Place: Hyderabad

 

Partner ^

Membership No 213077

UDIN: 24213077BKBHMF9334