Anya Polytech & Fertilizers Ltd Auditor Reports

To the Members of Anya Polytech & Fertilizers Limited

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying financial statements of ANYAPOLYTECH & FERTILIZERS LTD. (Previously Known as Anya Polytech &Fertilizers Pvt Ltd) (the Company"), which comprise the Balance Sheet asat March 31, 2024, the Statement of Profit and Loss (including Other comprehensive Income), the Statement of changes in Equity and theStatement of Cash Flow for the year on that date , and notes to thefinancial statements including a summary of significant materialaccounting policies and other explanatory information (herein referred to as "Standalone 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 theinformation required by the Companies Act, 2013 ("the Act") in themanner so required and give a true and fair view in conformity with theIndian Accounting Standards prescribed under section 133 of the Act("Ind AS") and other accounting principles generally accepted in India, ofthe state of affairs of the Company as at March 31, 2024, its profit, totalcomprehensive income, changes in equity and its cash flows for the yearended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance with theStandards on Auditing specified under section 143(10) of the Act (SAs).Our responsibilities under those Standards are further described in theAuditors Responsibility for the Audit of the Financial Statements sectionof our report. We are independent of the Company in accordance with theCode of Ethics issued by the Institute of Chartered Accountants of India

(ICAI) together with the ethical requirements that are relevant to ouraudit of the financial statements under the provisions of the Act and theRules made thereunder, and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the ICATsCode of Ethics. We believe that the audit evidence obtained by us issufficient and appropriate to provide a basis for our audit opinion on theStandalone Financial Statements.

Information Other than the Financial Statements and Auditors ReportThereon

• The Companys Board of Directors is responsible for the otherinformation. The other information comprises the directors reportincluded the Management discussion and Analysis of Board Report butdoes not include the consolidated financial statements, standalonefinancial statements and our auditors report thereon.

• Our opinion on the financial statements does not cover the otherinformation and we do not express any form of assurance conclusionthereon.

• In connection with our audit of the financial statements, ourresponsibility is to read the other information and, in doing so, considerwhether the other information is materially inconsistent with thefinancial statements, or our knowledge obtained during the course ofour audit or otherwise appears to be materially misstated.

If, based on the work we have performed on the other information, weconclude that there is a material misstatement of this otherinformation, we are required to report that fact. We have nothing toreport in this regard.

Managements Responsibility for the Financial Statements

The Companys Board of Directors is responsible for the matters stated insection 134(5) of the Act with respect to the preparation of thesestandalone financial statements that give a true and fair view of thefinancial position, financial performance including the other comprehensiveincome, changes in equity and the cash flows in accordance with the IND ASspecified in Section 133 of the Act and other accounting principles generallyaccepted in India. This responsibility also includes maintenance ofadequate accounting records in accordance with the provisions of the Actfor safeguarding the assets of the Company and for preventing anddetecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates thatare reasonable and prudent; and design, implementation and maintenanceof adequate internal financial controls, that were operating effectively forensuring the accuracy and completeness of the accounting records, relevantto the preparation and presentation of the financial statement that give atrue and fair view and are free from material misstatement, whether due tofraud or error.

In preparing the Standalone Financial Statements, management and Boardof Directors is responsible for assessing the Companys ability to continueas a going concern, disclosing, as applicable, matters related to goingconcern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to ceaseoperations, or has no realistic alternative but to do so.

The Company Board of Directors are also responsible for overseeing theCompanys financial reporting process.

Auditors Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether theStandalone Financial statements as a whole are free from materialmisstatement, whether due to fraud or error, and to issue an auditorsreport that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered materialif, individually or in the aggregate, they could reasonably be expected toinfluence the economic decisions of users taken on the basis of thesestandaloneTinancial statements.

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

• Identify and assess the risks of material misstatement of the financialstatements, whether due to fraud or error, design and perform auditprocedures responsive to those risks, and obtain audit evidence that issufficient and appropriate to provide a basis for our opinion. The risk ofnot detecting a material misstatement resulting from fraud is higherthan for one resulting from error, as fraud may involve collusion,forgery, intentional omissions, misrepresentations, or the override ofinternal control.

• Obtain an understanding of internal financial control relevant to theaudit in order to design audit procedures that are appropriate in thecircumstances but not for the purpose of expressing an opinion on theeffectiveness of the Companys internal control.

• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made bythe management.

• Conclude on the appropriateness of managements use of the goingconcern basis of accounting and, based on the audit evidence obtained,whether a material uncertainty exists related to events or conditionsthat may cast significant doubt on the Companys ability to continue as agoing concern. If we conclude that a material uncertainty exists, we arerequired to draw attention in our auditors report to the related disclosures In the financial statements or, if such disclosures areinadequate, to modify our opinion. Our conclusions are based on theaudit evidence obtained up to the date of our auditors report, However,future events or conditions may cause the Company to cease to continueas a going concern.

• Evaluate the overall presentation, structure and content of the financialstatements, including the disclosures, and whether the financialstatements represent the underlying transactions and events in amanner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statementsthat, individually or in aggregate, makes it probable that the economicdecisions of a reasonably knowledgeable user of the financial statementsmay be influenced. We consider quantitative materiality and qualitativefactors in (i) planning the scope of our audit work and in evaluating theresults of our work; and (ii) to evaluate the effect of any identifiedmisstatements in the financial statements.

We communicate with those charged with governance regarding, amongother matters, the planned scope and timing of the audit and significantaudit findings, including any significant deficiencies in internal control thatwe identify during our audit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence,and to communicate with them all relationships and other matters thatmay reasonably be thought to bear on our independence, and whereapplicable, related safeguards.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act, based on our audit we report,that:

a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for thepurposes of our audit.

b) In our opinion, proper books of account as required by law havebeen kept by the Company so far as it appears from our examinationof those books, except for the matters stated in (i) (vi) below, onreporting under Rule 11(g) of the Companies (Audit and Auditors)Rules, 2014.

c) The Balance Sheet, the Statement of Profit and Loss, Othercomprehensive Income. Statement of Changes in Equity and the CashFlow Statement dealt with by this Report are in agreement with thebooks of account.

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

e) On the basis of the written representations received from thedirectors as on March 31, 2024 taken on record by the Board ofDirectors, none of the directors is disqualified as on March 31, 2024from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to adequacy of the Internal Financial Control withreference to Standalone Financial Statements of the Company andthe operating effectiveness of such controls, refer to our separateReport in "Annexure B". Our report expresses an unmodified opinionon the adequacy and operating effectiveness of the Companysinternal financial controls with reference to Standalone FinancialStatements.

g) With respect to other matters to be included in the Auditors Reportin accordance with the requirements of section 197(16) of the Act,as amended, in our opinion and to the best of our information andaccording to the explanations given to us, the remuneration paid bythe Company to its directors during the year is in accordance withthe provisions of section 197 of the Act.

h) With respect to the other matters to be included in the AuditorsReport in accordance with Rule 11 of the Companies (Audit andAuditors) Rules, 2014, as amended in our opinion and to the best ofour information and according to the explanations given to us:

i. The Company does not have any pending litigations whichwould impact its financial position.

ii. The Company did not have any long-term contracts includingderivative contracts for which there were any materialforeseeable losses.

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

iv. (a) The Company has represented that, to the best of itsknowledge and belief, no funds have been advanced or loanedor invested (either from borrowed funds or share premium orany other sources or kind of funds) by the company to or in anyother person(s) or entity(jes), including foreign entities("Intermediaries"), with the understanding, whether recordedin writing or otherwise, that the Intermediary shall, whetherdirectly or indirectly, lend or invest in other persons or entitiesidentified in any manner whatsoever by or on behalf of thecompany ("Ultimate Beneficiaries") or provide any guarantee,security or the like on behalf of the Ultimate Beneficiaries;

(b) The Company has represented, that, to the best of itsknowledge and belief, no funds have been received by thecompany from any person(s) or entity(ies), including foreignentities ("Funding Parties"), with the understanding, whetherrecorded in writing or otherwise, that the company shall,whether, directly or indirectly, lend or invest in other personsor entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide anyguarantee, security or the like on behalf of the UltimateBeneficiaries; and

(c) Based on audit procedures which we considered reasonableand appropriate in the circumstances, we are of the opinion thatthe representations under sub-clause (a) and (b) remainunsubstantiated.

v. The company has not declared or paid any dividend during theyear in contravention of the provisions of section 123 of theCompanies Act, 2013.

vi. Based on our examination which included test checks andinformation given to us, the Company has used accountingsoftware for maintaining its books of account, which did nothave a feature of recording audit trail (edit log) facilitythroughout the year for all relevant transactions recorded in therespective software, hence we are unable to comment on audittrail feature of the said software.

2. As required by the Companies (Auditors Report) Order, 2020 ("theOrder") issued by the Central Government in terms of Section 143(11)of the Act, we give in "Annexure A" a statement on the matters specifiedin paragraphs 3 and 4 of the Order.

For JERATH & CO.

Chartered Accountants

Firm Registration No: 08407N)

CA NAVNEETJERATH

Proprietor

(Membership No.:085790)

IJDIN: 240RR790RKCR1X4799

Place: New Delhi

Date: September 23, 2024

ANNEXURE A TO THE INDEPENDENT AUDITOR S REPORT

(Referred to in paragraph 2 under Report on Other Legal and RegulatoryRequirements section of our report of even date)

(i) In respect of its Property, Plant & Equipment:

(a)(A) The Company has maintained proper records showingfull particulars, including quantitative details and situation ofProperty, Plant & Equipment.

(a) (B)The Company is not having any intangible assets.

(b) All the Property, Plant & Equipment were physically verifiedduring the year by the Management in accordance with aregular programme of verification which, in our opinion,provides for physical verification of all the Property, Plant &Equipment at reasonable intervals. According to theinformation and explanations given to us, no materialdiscrepancies were noticed on such verification.

(c) The title deeds of all the immovable properties (other thanproperties where the Company is the lessee and the leaseagreements are duly executed in favour of the lessee) are heldin the name of the company.

(d) The Company has revalued its Property, Plant & Equipmentduring the year ended March 31, 2024 by Rs 324.08 lakhswhich comprises Rs 321.62 lakhs for factory land and buildingas on 2.46 lakhs.

(e) There are no proceedings initiated or are pending against theCompany for holding any benami property under theProhibition of Benami Property Transactions Act, 1988 andrules made thereunder

(ii) In respect of its inventory:

(a) The Company has conducted physical verification of inventory at reasonable intervals during the year. In our opinion, the coverage and the procedure of such verification by the company isappropriate.

(b) As disclosed in notes to the financial statements, the Company.has been sanctioned working capital limits from banks on thebasis of security of current assets during the financial year. Themonthly returns/statements filed by the company with suchbanks are generally in agreement with the books of accounts ofthe company.

(iii) a) According to the information and explanations given to us, theCompany has provided loans, advances in the nature of loans,provided guarantee and security to the companies as follows:

(Amount in 1NR Lakhs)

Nature	Balance outstanding as on31.03.2024	Balance outstanding as on31.03.2023
Loans & advancesgiven to subsidiaries	958.07	1,105.12
Loans & advancesgiven to Others	538.31	423.29

b) In our opinion and according to the information and explanationsgiven to us, the terms and conditions of the grant of such loans arenot prejudicial to the Companys interest.

c) The schedule of repayment of principal and payment of interesthas not been stipulated for the loans granted as the same arerepayable on demand, and the repayment/receipt of the same isregular whenever demanded by the Company.

d) Since there is no schedule available in respect of principal andpayment of interest for the loans granted and the same is repayableon demand, hence, there are no amounts of loans granted tocompanies which are overdue for more than ninety days.

e) There were no loans which had fallen due during the year, on theabove loans and advances hence, the requirements under this clauseof the order are not applicable to the company.

f) The Company has granted loans or advances in the nature of loans,either repayable on demand or without specifying any terms orperiod of repayment, required details in respect thereof are as below:

(Amount in INR Lakhs)

Aggregateamount ofloangranted	Percentagethereof to thetotal loansgranted	Aggregate amount of loansgranted to promoters, relatedparties as defined in clause(76) of Section 2 of theCompanies Act, 2013
1496.38	68.96%	1,031.88

(iv) The Company has complied with the provisions of Section 185 & 186of the act in respect of loans granted or provision of guarantees orsecurities to parties covered thereunder.

(v) According to the information and explanations given to us, theCompany has not accepted any deposit under the provisions ofSection 73 to Section 76 of the Companies Act, 2013 during the year.Hence, the provisions of clause 3(v) of the Order are not applicable tothe Company.

(vi) According to the information and explanations given to us, themaintenance of cost records under section 148(1) of the CompaniesAct, 2013 is applicable to the Company.

(vii) According to the information and explanations given to us, in respectof statutory dues:

The Company has been generally regular in depositing undisputedstatutory dues, including Provident Fund, Income-Tax, Goods andServices Tax, Cess and other material statutory dues applicable to itwith the appropriate authorities, There were no undisputed amountspayable in respect of Provident Fund, Goods and Services Tax, Cessand other material statutory dues in arrears as at March 31, 2024 fora period of more than six months from the date they became payableexcept TDS amounting to Rs. 12.10 lakhs.

(a) There are no dues of Goods and Services Tax, Custom Dutywhich have not been deposited as on March 31, 2024 onaccount of any disputes.

(viii) The Company has not surrendered or disclosed any transaction,previously unrecorded in the books of account, in the tax assessmentsunder the Income Tax Act, 1961 as income during the year. Accordingly,the requirement to report on clause 3(viii) of the Order is not applicableto the Company.

(ix) (a) The Company has not defaulted in repayment of loans or otherborrowings or in the payment of interest thereon to any lender.

(b) The company has not been declared wilful defaulter by any bank orfinancial institution or government of any government authority.

(c) The Company has applied all the term loans for the purpose forwhich the loans were obtained.

(d) On an overall examination of the financial statements of thecompany, funds raised on short-term basis have been used for long-termpurposes by the Company.

(e) On an overall examination of the financial statements of theCompany, during the year the Company has not raised funds fromany financial institutions or promoters on account of or for thepurposes of meeting the obligations of its subsidiaries, associates or ¦joint ventures.

(f) The Company has not raised loans during the year on the pledge ofsecurities held in its subsidiaries, joint ventures or associatecompanies. Hence, the requirement to report on clause 3(ix)(f) ofthe Order is not applicable to the Company.

(x) (a)The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) or term loans andhence reporting under clause (x) of the Order is not applicable.

(b) The Company has not made any preferential allotment or privateplacement, of shares /fully or partially or optionally convertibledebentures during the year under audit and hence, the requirementto report on clause 3(x)(b) of the Order is not applicable to theCompany

(xi) (a) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements andaccording to the information and explanations given by themanagement, no fraud by the Company or no material fraud on theCompany has been noticed or reported during the year.

(b) During the year, no report under sub-section (12) of section 143 ofthe Companies Act, 2013 has been filed by the auditor in Form ADT -4 as prescribed under Rule 13 of Companies (Audit and Auditors)Rules, 2014 with the Central Government, as the same has beenfound to be not applicable.

(c) No whistle blower complaints were received during the year, henceclause 3(xi)(c)is not applicable to the company.

(xii) The Company is not a Nidhi Company as per the provisions of theCompanies Act, 2013 and hence reporting under clause 3(xii)(a),(b)and (c) of the Order is not applicable.

(xiii) In our opinion and according to the information and explanationsgiven to us, the Company is in compliance with Section 177 and 188of the Companies Act, 2013, where applicable, for all transactionswith the related parties and the details of related party transactionshave been disclosed in the notes to the standalone financialstatements etc. as required by the applicable accounting standards.

(xv) According to the information and explanations given to us, theprovisions of section 138 of the Companies Act, 2013 forappointment of internal auditor is not applicable to the Company andhence reporting under clause 3(xiv)(a) and (b) of the Order is notapplicable.

(xvi) In our opinion and according to the information and explanationsgiven to us, during the year the Company has .not entered into non-cash transactions with its directors or persons connected with himand hence provisions of section 192 of the Companies Act, 2013 isnot applicable.

(xvi)(a)The provisions of section 45-IA of the Reserve Bank of India Act,1934 (2 of 1934) are not applicable to the Company. Accordingly, therequirement to report on clause 3(xvi)(a) of the Order is notapplicable to the Company.

(b) The Company has not conducted any Non-Banking Financial orHousing Finance activities without obtaining a valid Certificate ofRegistration (CoR) from the Reserve Bank of India as per the ReserveBank of India Act, 1934.

(c) The Company is not a Core Investment Company as defined in theregulations made by Reserve Bank of India. Accordingly, the requirement to report on clause 3(xvi)(c) of the Order is notapplicable to the Company.

(d) The company does not have any Core Investment Company (CIC) aspart of the Group as per the definition of Group contained in the CoreInvestment Companies (Reserve Bank) Directions, 2016.

(xvii) The Company has not incurred cash losses in the current year and inthe immediately preceding financial year.

(xviii) There has been no resignation of the statutory auditors duringthe year and accordingly requirement to report on Clause 3(xviii) ofthe Order is not applicable to the Company.

(xix) On the basis of the financial ratios disclosed in notes to thestandalone financial statements, ageing and expected dates ofrealization of financial assets and payment of financial liabilities,other information accompanying the financial statements, ourknowledge of the Board of Directors and management plans andbased on our examination of the evidence supporting theassumptions, nothing has come to our attention, which causes us tobelieve that any material uncertainty exists as on the date of the auditreport that Company is not capable of meeting its liabilities existingat the date of balance sheet as and when they fall due within a periodof one year from the balance sheet date. We, however, state that thisis not an assurance as to the future viability of the Company. Wefurther state that our reporting is based on the facts up to the date ofthe audit report and we neither give any guarantee nor any assurancethat all liabilities falling due within a period of one year from thebalance sheet date, will get discharged by the Company as and whenthey fall due.

(xx) The provisions of section 135 of the Companies Act, 2013, relating toCSR activities are applicable to the Company. The company has spentthe entire amount of CSR liability by undertaking CSR activities during the year ended 31st March 2024 and there was no amountunspent as on 31st March 2024.

For JERATH & CO.

Chartered Accountants

(Firm Registration No: 08407N)

CA NAVNEET JERATH

Proprietor

(Membership No.: 085790)

UDIN: 2408 579 0BKCR1X4799

Place: New Delhi

Date: September 23,2024

ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT

(Referred to in paragraph 1(f) under ‘Report on Other Legal and RegulatoryRequirements section of our report of even date)

ANYA POLYTECH & FERTILIZERS LIMITED

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

We have audited the internal financial controls over financial reporting ofthe M/s ANYA POLYTECH & FERTILIZERS LIMITED, ("the Company") asof March 31, 2024, in conjunction with our audit of the financial statementsof the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys management is responsible for establishing andmaintaining internal financial controls based on "the internal control overfinancial reporting criteria established by the Company considering theessential components of internal control stated in the Guidance Note onAudit of internal Financial Controls over Financial Reporting issued by theInstitute of Chartered Accountants of India (the Guidance Note)". Theseresponsibilities include the design, implementation and maintenance ofadequate internal financial controls that were operating effectively forensuring the orderly and efficient conduct of its business, includingadherence to companys policies, the safeguarding of its assets, theprevention and detection of frauds and errors, the accuracy andcompleteness of the accounting records, and the timely preparation ofreliable financial information, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internalfinancial controls over financial reporting based on our audit Weconducted our audit in accordance with the Guidance Note and theStandards on Auditing, prescribed under Section 143(10) of the CompaniesAct, 2013, to the extent applicable to an audit of internal financial controls,both issued by the Institute of Chartered Accountants of India. Those

Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financialreporting was established and maintained and if such controls operatedeffectively in all material respects.

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system over financialreporting and their operating effectiveness, Our audit of internal financialcontrols over financial reporting included obtaining an understanding ofinternal financial controls over financial reporting, assessing the risk that amaterial weakness exists, and testing and evaluating the design andoperating effectiveness of internal control based on the assessed risk. Theprocedures selected depend on the auditors judgment, including theassessment of the risks of material misstatement of the financialstatements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Companysinternal financial controls system with reference to Standalone FinancialStatements.

Meaning of Internal Financial Controls over Financial Reporting

A companys internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability offinancial reporting and the preparation of financial statements for externalpurposes in accordance with generally accepted accounting principles. Acompanys internal financial control over financial reporting includes thosepolicies and procedures that (1) pertain to the maintenance of records that,in reasonable detail, accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurancethat transactions are recorded as necessary to permit preparation offinancial statements in accordance with generally accepted accountingprinciples, and that receipts and expenditures of the company are beingmade only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition, use, ordisposition of the companys assets that could have a material effect on thefinancial statements.

Inherent Limitations of Internal Financial Controls over FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting, including the possibility of collusion or impropermanagement override of controls, material misstatements due to error orfraud may occur and not be detected. Also, projections of any evaluation ofthe internal financial controls over financial reporting to future periods aresubject to the risk that the internal financial control over financialreporting may become inadequate because of changes in conditions, or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all material aspects, fairly adequateinternal financial controls over financial reporting with reference to thesestandalone financial statements and such internal financial controls overfinancial reporting with reference to these standalone financial statementswere operating fully effectively as at March 31, 2024, based on the internalcontrol over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in theGuidance Note on Audit of Internal Financial Controls Over FinancialReporting issued by the Institute of Chartered Accountants of India.

For JERATH & CO.

Chartered Accountants

Firm Registration No: 08407N)

CA NAVNEETJERATH

Proprietor

(Membership No.:085790)

IJDIN: 240RR790RKCR1X4799

Place: New Delhi

Date: September 23, 2024