Anawil Wire and Engineering Ltd Auditor Reports

REPORT ON RESTATED FINANCIAL INFORMATION

To,

The Board of Directors of

Anawil Wire and Engineering Limited

Office No. 1, Plot No. 201, Phase 1, Vibrant Business Park,

GIDC, National Highway No. 48, Near UPL Limited, Valsad,

Gujarat, 396195

Dear Sir,

Reference: - Proposed Public Issue of Equity Shares of Anawil Wire and Engineering Limited.

We have examined the attached Restated Financial Statement of Anawil Wire and Engineering Limited (hereunder referred to "the Company", "Issuer") comprising the Restated Statement of Assets and Liabilities as at March 31,2026, March 31, 2025 and March 31, 2024, the Restated Statement of Profit & Loss, the Restated Cash Flow Statement for the year ended March 31, 2026, March 31, 2025 and March 31, 2024, the 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 June 19, 2026 for the purpose of inclusion in the Draft Red Herring Prospectus/ Red Herring Prospectus/ Prospectus ("Offer Document") prepared by the Company in connection with its proposed SME Initial Public Offer of equity shares ("SME IPO") prepared in accordance with the requirements of:

a) Section 26 & 32 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 as amended ("SEBI 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 2020) issued by the Institute of Chartered Accountants of India as amended from time to time. ("The Guidance Note")

2. The Companys Board of Directors is responsible for the preparation of the Restated Financial Statement 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, Ahmedabad in connection with the proposed SME IPO. The Restated Financial Statements have been prepared by the management of the Company for the year ended on March 31, 2026, March 31, 2025 and March 31, 2024 on the basis of notes to restatement in Annexure IV to the Restated Financial Statement. The Board of Directors of the companys responsibility includes designing, implementing, and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Statement. The Board of Directors is also responsible for identifying and ensuring that the Company complies with the Companies Act, SEBI (ICDR) Regulations and the Guidance Note.

We, M/s. S.R. Goyal & Co, Chartered Accountants have been subjected to the peer review process of the Institute of Chartered Accountants of India (ICAI) and our peer Review Certificate dated 08th August, 2024 is valid till 30th September, 2027.We confirm that there is no express refusal by the peer review board of ICAI to renew the certificate and the process to renew the peer review certificate has been initiated by us.

3. We have examined such Restated Financial Statement taking into consideration:

a) The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter dated August 05,2025 in connection with the Draft Red Herring Prospectus ("DRHP") / Red Herring Prospectus ("RHP") issued by the Company for its Proposed IPO of equity shares in emerge platform of relevant stock exchange. ("IPO" or "SME IPO"):

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 Statements; and

d) The requirements of Section 26 & 32 of the Act and the SEBI ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the SEBI ICDR Regulations and the Guidance Note in connection with the SME IPO.

e) 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.

4. These Restated Financial Statements have been compiled by the management from Audited Financial Statements of the company as at and for the year ended on March 31, 2026, March 31, 2025 and March 31, 2024 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,

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

Auditors Report issued by the Previous Auditor dated 18th June 2026, 13th May 2025 and 05th September, 2024 for the

year ended March 31,2026, March 31,2025 and March 31,2024 respectively. These F inancial Statements were audited

by G.B. LADDHA & CO. LLP (the "Previous Auditors").

6. Based on our examination report dated September 10,2025 and according to the information and explanation given to us, we report that the Restated Financial Information have been prepared:

a) after incorporating adjustments for the changes in accounting policies, material error and regrouping/ reclassifications retrospectively, if any in the financial years ended March 31, 2026, March 31, 2025 and March 31, 2024 to reflect the same accounting treatment as per the accounting policies and grouping/classifications; and

b) There are no qualifications in the auditors reports on the financial statements as at and for the year ended March 31, 2026, March 31, 2025 and March 31,2024, which require any adjustments to the Restated Financial Statements.

c) In accordance with the Act, SEBI ICDR Regulations and the Guidance Note.

We state that no qualification in our report therefore no modification in restated financial were carried out.

a) For the purpose of the restated financial, the Audited financial were prepared basis of the schedule III requirement and as prescribed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, as amended;

b) The Restated Financial Statement have been prepared after incorporating adjustments for the changes in accounting policies retrospectively in respective financial years to reflect the same accounting treatment as per the changed accounting policy for all reporting periods, if any;

c) The Restated Financial Statement have been prepared after incorporating adjustments for prior period and other material amounts in the respective financial year to which they relate;

d) Extra-ordinary items that need to be disclosed separately in the accounts have been disclosed wherever required;

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 IV to this report;

f) Adjustments in Restated Financial Statement have been prepared in accordance with the correct accounting policies,

g) There was no change in accounting policies, which needs to be adjusted in the Restated Financial Statement.

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

i) The Company has not paid dividend during FY 2023-24 to FY 2025-26.

j) The Restated Financial Statements does not contain any qualifications requiring adjustments.

k) The modification in Restated Financial Statements were carried out based on the modified reports, if any, issued by Previous Auditor which is giving rise to modifications on the financial statements as at and for the years ended March 31, 2026, March 31, 2025 and March 31, 2024.

7. In accordance with the requirements of the Act including the rules made there under, SEBI ICDR Regulations,

Guidance Note and Engagement Letter, we report that:

a) The "Restated Statement of Asset and Liabilities" of the Company as at March 31, 2026, March 31, 2025 and March 31, 2024 examined by us, as set out in Annexure I to this report read with significant accounting policies in Annexure IV has been arrived at after making such adjustments and regroupings to the audited financial statements of the Company, as in our opinion were appropriate and more fully described in notes to the restated summary statements to this report.

b) The "Restated Statement of Profit and Loss" of the Company for the period March 31, 2026, March 31, 2025 and March 31, 2024 examined by us, as set out in Annexure II to this report read with significant accounting policies in Annexure IV has been arrived at after making such adjustments and regroupings to the audited financial statements of the Company, as in our opinion were appropriate and more fully described in notes to the restated summary statements to this report.

c) The "Restated Statement of Cash Flows" of the Company for the year ended March 31, 2026, March 31, 2025 and March 31, 2024 examined by us, as set out in Annexure III to this report read with significant accounting policies in Annexure IV has been arrived at after making such adjustments and regroupings to the audited financial statements of the Company, as in our opinion were appropriate and more fully described in notes to the restated summary statements to this report.

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 Financial year ended March 31, 2026, March 31, 2025 and March 31, 2024 proposed to be included in the Offer Document for the proposed IPO.

In our opinion and to the best of information and explanation provided to us, the Restated Financial Statement of the

Company, read with significant accounting policies and notes to accounts as appearing in Annexure IV are prepared

after providing appropriate adjustments and regroupings as considered appropriate.

8. 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.

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

10. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.

11. Our report is intended solely for use of the management and for inclusion in the Offer Document in connection with the Proposed SME IPO 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. 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.