ANG Lifesciences India Ltd Auditor Reports

To THE BOARD OF DIRECTORS

ANG Lifesciences India Limited.

Report on the Audit of the Standalone Financial Results

Opinion

We have audited the Standalone Financial Statements of ANG LIFESCIENCES INDIA LIMITED (the company) which comprise the Standalone Balance Sheet as at March 31, 2026 and the Standalone Statement of Profit and Loss (Including other comprehensive income), the Standalone statement of changes in equity, the Standalone Statement of cash Flows for the year then ended, and notes to the standalone Financial Statement including a summary of the Significant Accounting Policies and other explanatory information(hereinafter referred to as the Standalone Financial Statements).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone 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 31 March 2026, and its loss and other comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Standalone Financial Results 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 together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 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,

Emphasis of Matter:

As per Standard on Auditing (SA) 706 (Revised)- Emphasis of Matter (EQM) Paragraphs and Other Matter (OM) Paragraphs in the Independent Auditors Report, an EOM paragraph is included in the auditors report when: We want to draw attention to a matter that is appropriately disclosed in the financial statements, and fundamental to users understanding of the financial statements. Accordingly we draw your attention towards the following issue:-

1. We draw attention to the financial statements, wherein the Company has made purchases from various parties against which payments have not been made within the period prescribed under Section 16(2) of the Central Goods and Services Tax Act, 2017, resulting in Input Tax Credit (ITC) reversal liability amounting to Rs. 6.65 lakhs.

The aforesaid amount has been disclosed under Statutory Dues Payable in the financial statements. However, the corresponding reversal/adjustment has not been regularized on the GST portal as at the date of signing of these financial statements. Our opinion is not modified in respect of this matter.

2, According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are four litigations pending against the ANG Lifesciences India Limited arising in the ordinary course of business amounts to Rs99.81 Lakhs.

Our opinion is not modified in respect of the above matters.

Managements Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Companys Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profitloss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations, 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 accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors are responsible for assessing the Companys ability to continue 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 are also responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are 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 that 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

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

Identify and assess the risks of material misstatement of the standalone financial results, 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 understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal controls. e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

Conclude on the appropriateness of the Board of Directors 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 auditors report to the related disclosures in the financial results 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 report. 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 standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

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.

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 matters that may reasonably be thought to bear on our independence, and where applicable, related safequards,

Other Matters

On the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the standalone financial statements, our knowledge of the Board of Directors and managements plans and based on our examination of the evidence supporting the assumptions, and considering the matters described in the Emphasis of Matter paragraph above relating to defaults in repayment of borrowings, outstanding statutory dues and pending litigations, 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 the Company is not capable of meeting its liabilities existing at the date of the balance sheet as and when they fall due within a period of one year from the balance sheet date. However, the matters referred to in the Emphasis of Matter paragraph indicate the existence of conditions which may affect the Companys liquidity position and require continued monitoring by the management and those charged with governance. We further state that our reporting is based on the facts and circumstances existing as at the date of the audit report. Our reporting should not be construed as an assurance regarding the future viability of the Company nor as a guarantee that the Company will be able to meet all its obligations as and when they fall due within a period of one year from the balance sheet date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 (the Order), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, the report is attached as an Annexure A, 2. As required by Section 143 (3) of the Act, we report that:

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

b) 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.

c) The Standalone Balance Sheet, the Standalone Statement of Profit and Loss (including other comprehensive income) the standalone Statement of Changes in Equity and Standalone Statement of Cash Flows dealt with by this Report are in agreement with the books of account.

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

e) None of the directors is disqualified as on 31st March, 2026 from being appointed as a director in terms of Section 164 (2) of the Act.

f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, the report is attached as an Annexure B.

g) With respect to the matter to be included in the Auditors Report under section 197(16), In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during the current period is in accordance with the provisions of section 197 of the Act, The remuneration paid to any director is not in excess of the limit laid down under section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under section 197(16) which are required to be commented upon by us.

h) 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, There are ongoing proceedings against Company by the creditors the details of which is given in para 3 of Emphasis of Matter paragraph.

ii, The Company did not have any long-term contracts including derivative contracts for 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. a) The Management has represented that, to the best of its knowledge and belief, no funds have been advanced or lend or invested (either from borrowed funds or any other sources) by the Company to/in any person or entity (Intermediary), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest. in any person or entity, identified in any manner whatsoever (Ultimate Beneficiaries), by or on behalf of the Company or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

b) The management has represented that, to the best of its knowledge and belief, no funds have been received by the Company from any person or entity (Funding Parties), with the understanding, whether recorded in writing or otherwise, that the Company shall, directly or indirectly, lend or invest in any person or entity identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Funding Party or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

c) Based on the audit procedures adopted by us, nothing has come to our attention that has caused us to believe that the representations made by the management under sub clause (a) & (b) above, contain any material misstatement. v. The Company has not declared or paid any dividend, during the period.

vi. Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of account for the financial year ended March 31, 2026, 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 software. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with.

ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT

(Referred to in paragraph 5 of our report of even date on accounts of ANG LIFESCIENCES INDIA LIMITED for the period ended 31st March, 2026).

i. a) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant & Equipment.

b) The Company has a regular programmer of physical verification of its fixed assets by which all fixed assets are verified in a phased manner, over a period of three years. In our opinion, the periodicity of physical verification is reasonable having regarding to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification.

c) According to the information and explanations given by the management & on the basis of examination of the records of the Company, the title deeds of immovable properties are held in the name of the Company.

d) 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 revalued its Property, Plant and Equipment (including Right of Use assets) or intangible assets during the period. Accordingly, the reporting under Clause (i)(d) of the Order is not applicable to the Company.

e) According to the information and explanations given to us and on the basis of our examination of the records of the Company, no proceedings have been initiated or are pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made there under.

ii, a) As explained to us & on the basis of the records examined by us, in our opinion, physical verification of inventory has been conducted at reasonable intervals by the management. In our opinion, the coverage and procedure of such verification by the management is appropriate. No discrepancies of 10% or more in the aggregate for each class of inventory were noticed on physical verification of stocks by the management as compared to book records.

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 been sanctioned working capital limit in excess of five (5) crore rupees, in aggregate, from banks or financial institutions on the basis of security of current assets.

iii. a) During the period, the Company has not provided security to companies, firms, limited liability partnerships, or any other parties. The Company has provided loans, advances in the nature of loans to companies and other parties.

(A) The company has not granted any loans or advances in the nature of loans, or provided quarantees or securities to subsidiaries, Joint venture and associates during the year. However, loans granted and guarantees provided in earlier years and outstanding as at balance sheet date to the subsidiary company and other related party are as follows: -

	Amount(in Lakhs)
Aggregate amount of loan during the year	Nil
Balance outstanding of Loan as at balance sheet date	1949.63
Aggregate amount of guarantee during the year-	Nil
Subsidiary
Balance outstanding of guarantee as at balance sheet date-subsidiary	1242.28

(B) During the period, the Company has not stood any guarantee, loan and advances or provided security to parties other than subsidiaries, joint ventures and associates.

b) Guarantees provided and Loans and advances granted in the nature of loans to companies and other parties are not prejudicial to the Companys interest.

c) In respect of loans and advances given, the repayment of principal has been stipulated and the repayments or receipts have been regular whenever due.

d) No amounts of loans and advances in the nature of loans granted to companies are overdue for more than ninety days as no amount became due during the year.

e) There were no loans or advance in the nature of loan granted to companies fallen due during the year, that have been renewed or extended or fresh loans granted to settle the overdues of existing loans given to the same parties.

f) During the period, the Company has granted loans or advances to companies in the nature of loans, repayable at the time of expiry of tenure of loan. Total loans granted during the period is nil, and balance outstanding as at balance sheet date Rs.1949.63 Lakhs. The companies to whom the advances are made are related parties as defined in sub-section (76) of section 2 of the Companies Act, 2013.

iv. According to the information and explanations given to us, the Company has granted loans to the parties covered under Section 185(2) of the Companies Act, 2013 after complying with the provision of this section.

v. According to the information and explanations given to us, the Company has not accepted deposits from the public in terms of provisions of sections 73 to 76 of the Companies Act, 2015 therefore reporting under this clause is not applicable.

vi. We have broadly reviewed the books of accounts maintained by the company pursuant to the rules prescribed by the Central Government for maintenance of cost records under Section 148(1) of the Companies Act, 2013 and are of the opinion that prime facie, the prescribed accounts have been made and maintained. However, we have not carried out the detail examination of the records with a view to determine that these are accurate or complete.

vii. a) 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 deposited undisputed statutory dues arising during the year, including dues relating to Employees State Insurance, Provident Fund, Tax Deducted at Source and other statutory dues, with the appropriate authorities. Consequently, such outstanding liabilities remained unpaid for a period exceeding six months from the date they became payable.

Serial No Name of Statue	Nature of Dues	Amount Involved (in Lakhs)	Period to which the amount relates
1 Income Tax Act, 1961	TDS Payable	Rs. 30.16	FY 2024-25
		Rs. 38.09	FY 2025-26
2 Employees Provident Funds And Miscellaneous Provisions Act, 1952	EPF payable	Rs. 77.79	FY 2025-26
		Rs. 101.18	FY 2024-25
		Rs. 67.54	FY 2023-24

Serial No Name of Statue	Nature of Dues	Amount Involved (in Lakhs)	Period to which the amount relates
		Rs. 27.05	FY 2022-23
		Rs. 60.90 (Penalty)	FY 2015-24
3 Employees State Insurance Act	ESI payable	Rs. 6.23	FY 2023-24
		Rs. 15.63	FY 2024-25
		Rs. 13.72	FY 2025-26

b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the following disputed demands raised by the Income Tax Department under the provisions of the Income Tax Act, 1961 are pending:

Serial No Financial year	Amount
1 2017-18	7.15 Lakhs
2 2020-21	2.64 Lakhs

viii.According to the information and explanations given by the management, no unrecorded transactions in the books of account have been surrendered or disclosed as income during the period in the tax assessments under the Income Tax Act, 1961.

ix. a) According to the information & explanations given to us and on the basis of verification of records,The Company has various borrowings from HDFC Bank, including Cash Credit Limit, GECL and Car loans. However, during the year the Company has defaulted in payment of interest and/or instalments pertaining to the aforesaid borrowings total outstanding of which as on 31 March 2026 is Rs 1344.16 Lakhs, the details of such defaults are stated below: -

Amounts (in Lakhs)

Account Number	Loan Facilities	Sanctioned	Outstanding as on 31-03-2026	Installment Per month	Overdue months	Overdue amount
HDFC Bank cash credit a/c No. 50200055195731.00	Cash Credit	875	949.33	0	8	74.33
HDFC Loan account No. 451760402	GECL	675	376.94	21.05	9.26	194.95
HDFC Bank Car Loans	15 Car loans	105.18	16.94	2.11	More than 3 months	6.58
HDFC Bank Car loan A/c no. 120026103	Car loan	6.87	0.95	0.14	1.97	0.27

b) According to the information and explanations given by the management, the company has not been declared willful defaulter by any bank or financial institution or other lender;

c) In our opinion and according to the information and explanations given by the management, the Company has utilized the money obtained by way of term loans during the period for the purposes for which they were obtained.

d) In our opinion and according to the information and explanations given by the management, funds raised on short term basis have not been utilized for long term purposes.

e) In our opinion and according to the information and explanations given by the management, the company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures,

f) In our opinion and according to the information and explanations given by the management, the company has not raised loans during the period on the pledge of securities held in its subsidiaries, joint ventures or associate companies.

x, a) According to the information & explanations 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 period.

b) The Company has complied with provisions of sections 42 and 62 of the Companies Act, 2013 in respect of the private placement of shares during the year. On an overall examination of the balance sheet, amount raised, have been used for the purposes for which the funds were raised.

xi. a) According to the information and explanations given by the management, no fraud by the company or any fraud on the company has been noticed or reported during the period;

b) No report under sub-section (12) of section 143 of the Companies 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;

c) According to the information and explanations given to us by the management, no whistle-blower complaints had been received by the company.

xii. According to the information & explanations given to us, the Company is not a Nidhi Company. Accordingly, paragraph 3(xii) of the Order is not applicable.

xiii. According to the information and explanations given to us and based on our examination of the records of the Company, transactions with the related parties are in compliance with Section 188 of the Act.

xiv. Based on the information and explanations provided by the management, management has not appointed internal auditor u/s 138 of companies act 2013.

xv. According to the information and explanations given to us, during the period, the Company has not entered into any non-cash transactions with its Directors or persons connected to its Directors and hence provisions of Section 192 of the Companies Act, 2013 are not applicable.

xvi, a) In our opinion and according to the information and explanations given to us, the company is not required to be registered under section 45-1A of the Reserve Bank of India Act, 1934.

b) In our Opinion and based on our examination, the Company has not conducted any Non-Banking Financial or Housing Finance activities without a valid Certificate of Registration (COR) from the Reserve Bank of India as per the Reserve Bank of India Act, 1934.

c) In our Opinion and based on our examination, the Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India.

d) According to the information and explanations given to us and based on our audit procedures, the Group does not have any Core Investment Company (CIC) as defined under the RBI regulations. Accordingly, reporting under this clause is not applicable.

xvii, Based on our examination, the company has not incurred cash losses during the period and amounting to Rs. 111,25 lacs in the immediately preceding financial year.

xviii, There has been no resignation of the statutory auditors during the financial year and there were no issues,

xix. On the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the standalone financial statements, our knowledge of the Board of Directors and managements plans and based on our examination of the evidence supporting the assumptions, and considering the matters described in the Emphasis of Matter paragraph above relating to defaults in repayment of borrowings, outstanding statutory dues and pending litigations, 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 the Company is not capable of meeting its liabilities existing at the date of the balance sheet as and when they fall due within a period of one year from the balance sheet date.

However, the matters referred to in the Emphasis of Matter paragraph indicate the existence of conditions which may affect the Companys liquidity position and require continued monitoring by the management and those charged with governance. We further state that our reporting is based on the facts and circumstances existing as at the date of the audit report. Our reporting should not be construed as an assurance regarding the future viability of the Company nor as a guarantee that the Company will be able to meet all its obligations as and when they fall due within a period of one year from the balance sheet date.

xx. The provisions relating to Corporate Social Responsibility (CSR) under Section 135 of the Companies Act, 2013 are not applicable to the Company for the year under audit.

However, it was observed that an amount of 2,50,000 pertaining to FY 2021-22 was utilised from the Unspent CSR Account through a related party. The said related party is not registered as a Section 8 company, and the requisite CSR registration/eligibility as an implementing agency has not been established.

Accordingly, the utilisation of the aforesaid amount through such related party requires verification with reference to the provisions of Section 135 of the Companies Act, 2013 and the Companies (CSR Policy) Rules, 2014.

Further, the said amount represents unspent CSR expenditure which is required to be transferred to a fund specified under Schedule VII of the Companies Act, 2013, wherever applicable. The Company should ensure that the amount of #2,50,000, along with any balance outstanding to the extent of 12888 in the Unspent CSR Account, is transferred to the appropriate fund specified under Schedule VII within the prescribed time, along with the necessary disclosures and compliance under the applicable provisions. xxi. The company have subsidiary, and hence, is required to prepare consolidated financial statements under section 129(3) of the Act. Accordingly, the company comply with the provision of the section 129(3) of the Act,

ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT:

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

Opinion

We have audited the internal financial controls over financial reporting of ANG LIFESCIENCES INDIA LIMITED for period ended 31.03.2026 in conjunction with our audit of the financial statements of the Company for the period ended on that date. In our opinion, except as specified in below paragraph, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31.03.2026, 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 of India. Without qualifying our opinion, we draw attention to certain areas where weak internal controls regarding invoicing and raising credit notes were noticed and could be further strengthened. These observations, however, were not considered material weaknesses either individually or in aggregate, and did not impact our overall conclusion on the effectiveness of the Companys internal financial controls over financial reporting.

Managements Responsibility for Internal Financial Controls

The Companys management 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 of India (ICAI). 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 its business, including adherence to Companys policies, the safeguarding of its assets, the prevention 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 Internal Financial Controls over Financial Reporting and the Standards on Auditing, issued by ICAI and deemed to be prescribed under Section 143(10) of the 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 of India. 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 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 the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal contral based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material 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 for 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 contro! over financial reporting 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 control over financial reporting includes 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 authorizations of management and Directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Companys 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 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 over financial reporting to future years are 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 or procedures may deteriorate.

For KHURANA SHARMA & CO

Chartered Accountants

FRN: 010920N

(VIBHOR KHURANA)

PARTNER

Membership No. - 568524

UDIN: 26568524HTWEH2219

Date: 30-05-2026

Place: Chandigarh