Aprameya Engineering Ltd Auditor Reports

TO THE MEMBERS OF APRAMEYA ENGINEERING LIMITED

(FORMERLY KNOWN AS APRAMEYA ENGINEERING PRIVATE LIMITED)

Report on the Audit of the Standalone Financial Statements Opinion

We haw audited the accompanying Standalone Financial Statements ot APRAMEYA ENGINEERING LIMITED (the Company), which comprise the Balance Sheet as at 31 -* March, 2026, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year then ended and notes to the Standalone Financial Statements, including a summary of material accounting policies and other explanatory information.

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 Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, (Ind AS) and other accounting principles generally accepted in India, of the state of affairs of the Company as at 3T March, 2026, its profit and total comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

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

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Standalone Financial Statements of the current period. These matters were addressed in the context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

We have determined that there are no key audit matters to communicate in our report.

Information other than the Standalone Financial Statement and Auditors Report thereon

The Companys management and Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in Boards Report including Annexures to that Boards Report but does not include the Standalone Financial Statements and our auditors report thereon. The Boards Report and other related Information are expected to be made available to us after the date of this auditors report. Any material misstatement thereon pertaining to it, will be reported thereon.

Out opinion on the Standalone Financial Statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained in 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 report that fact.

Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements

The Companys management and Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (the Act) with respect to the preparation of these Standalone Financial Statements that give a true and fair view of the financial position, financial performance, total comprehensive income, changes in equity and cash flows of the Company in accordance with the Ind AS and other accounting principles generally accepted in India, including the accounting Standards specified under Section 133 of the Act. 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 Statements that give a true and fair view and are free from material missratemenr, whether due to fraud or error;

In preparing the Standalone Financial Statements, the Companys Management and Board of Directors is 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 management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so;

The Companys Management and Board of Directors are also responsible for overseeing the companys financial reporting process.

Auditors Responsibilities for die Audit of Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report diat 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 diesc Standalone Financial Statements.

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

- Identify and assess the risks of material misstatement of the Standalone 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 dian 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 control relevant to the audit in order to design audit procedures that arc appropriate in the circumstance*. Under section I43(3)(i) of the (.ompanic* Act, 2013, we arc also responsible for expressing our opinion on whether the Company has 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 appropriateness 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 die related disclosures in the Standalone financial Statements or, if such disclosures arc 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 Statements, including the disclosures, and whether the Standalone Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation;

Materiality is the magnitude of misstatements in the Standalone Financial Statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Statements.

We communicate with those charged with governance regarding, among odier matters, the planned scope and timing of the audit and significant audit fmdiugs, including any significant deficiencies in internal control that we identify during our audit;

Wc 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 safeguards;

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone Financial Statements for the financial year ended March 31, 2026, 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 the public interest benefits of such communication

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, we give in the Annexure A, a statement on the matters specified in paragraphs 3 and 4 of the Order, to die extent applicable.

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

(a) Wc have 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 boohs 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 Ralnnce Sheet, the Statement of Profit and I-oss (including other comprehensive income), the Statement of Changes in Equity and the Cash Flow Statement dealt with by this Report arc in agreement with the relevant books of account;

(d) lu our opinion, the aforesaid Standalone 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, 2026 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2026 from being appointed 3S a director in terms of Section 164(2) of the Act;

(t) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexuie B;

(g) With respect to die odier matters to be included in die Auditors Report in accordance with the requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to die explanations given to us, the remuneration paid by die Company to its directors during the year is in accordance with the provisions of section 197 of the Act; and

(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, as amended, 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 Standalone Financial Statements -Refer Note 35 to the Standalone Financial Statements;

ii. The Company did not have any long-term contracts including derivatives contracts for which dicre were any material foreseeable losses;

iii. There have been no such instances requiring transfer of any amounts to the Investor Education and Protection Fund by the Company.

iv.

i. The Management has represented that, to the best of its knowledge and belief, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (Intermediaries), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, direedy or indireedy lend or invest in 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;

ii. The Management has represented, that, to the best of its knowledge and belief, no funds have been received by die company from any person(s) or entity(ies), including foreign entities (Tunding Parties), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, direedy or indireedy, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

lii Based on such audit procedures that we have considered reasonable and appropriate tn the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause

(i) and (ii) contain any material mis-statement.

v. There is no dividend declared or paid during the period by the Company.

vi Based on our examination which included test checks, the accounting software used by the company 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. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with. Additionally, the audit trail has been preserved by the company as per the statutory requirements for record retention from 23 rf May, 2024.

For CNK & Associates LLP
Chartered Accountants
Firm Registration No. 101961W/W 100036
-Parecn Shah
Partner I
Membership No. 125011
Place Ahmcdabad
Date: 28 May, 2026
UDIN.26125011GEUKDB5508

ANNEXURF. A TO THE INDEPENDENT AUDITORS REPORT

Referred lo in Para I Report on Other Legal and Regulatory Requirements in our Independent Auditors Report to the members of the Company on the Standalone Financial Statements for the year ended 31* March, 2026.

To the best of our information and according to die explanations provided to us by the company and the books of account and records examined by us in the normal course of audit, we stare that;

L a) In respect of the Companys Property, Plant and Equipment and Intangible Assets:

(A) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment;

(B) The Company has maintained proper records showing full particulars, including quantitative details and situation of Intangible Asset;

b) The Company has formulated a phased programme for physical verification of Property, Plant and Equipment, designed to cover all items over a period of diree years. According to the programme, the company has during the year, physically verified the relevant assets. In our opinion, the frequency of the verification is reasonable having regard to the size of the company and the nature of its assets. According to the information and explanations given to us, no material discrepancies were noticed on such verification;

c) On the basis of our examination of the records of the Company, the title deeds of all the immovable properties as disclosed in the Standalone Financial Statements are held in name of company as at the Balance Sheet date.

d) The company has not revalued its Property, Plant and Equipment during the year;

c) The Company does not have any proceedings initiated or pending for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder. Hence the requirements under paragraph 3(i)(e) of the. Companies (Auditors Report) Order, 2020 (the Order) are not applicable to the Company.

H. (a) According to the informanon and explanations given by the Management, the inventory has been physically verified by the Management at reasonable intervals. Considering the size of the Company, the frequency of verification is reasonable and the procedures are adequate. No discrepancies have been noticed on such verification;

(b) The Company has working capital limits sanctioned from banks or financial institutions exceeding Rs. 5 crores during the year and the quarterly returns / statements filed by the Company are generally in agreement with the books of accounts and no material discrepancy was observed as mentioned in Note no. 40.1 in the Standalone Financial Statements;

HI. The Company lias made investment m subsidiary company, provided guarantee and has granted unsecured interest free loan to employees, in respect of which;

(a) The details of investment made, guarantee and unsecured loan provided by the company are as follows

Particulars	Aggregate amount granted / provided during the year (Rs. in lakhs)	Balance outstanding as on 31st March, 2026 (Rs. in lakhs)
Subsidiary
Investment - Equity shares	35.00	35.00
Corporate Guarantee	400.00	400.00
Employee
Unsecured Loan	2.00	0.85

(b) In our opinion and according to die informadon provided to us, che terms and conditions of the grant of such loans and guarantee provided and investments made are not prejudicial to the interest of the company;

(c) In respect of the aforesaid interest free loans to employees, die repayment of principal is been stipulated and the same are regular;

(d) In respect of the aforesaid loan, there is no amount which is overdue for more than ninety days;

(e) No loan granted by the Company which has fallen due during the year, has been renewed or extended or fresh loans granted to setde the overdue of existing loans given to the same parties;

(f) The Company has not granted any loans or advances in the nature of loans cither repayable on demand or without specifying any terms or period of repayment during the year. Hence, reporting under clause 3(iii)(f) is not applicable;

Other than that mentioned above, the company has not made any investment, provided any guarantee or security or granted any advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnership or any other parties;.

IV. The Company has complied with the provisions of section 185 and 186 of the Act hi respect of loans granted, investment made, guarantee and securities provided, as applicable;

V. The Company* has not accepted any deposits or the amounts which are deemed to be deposits within the provisions of sections 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the rules framed there under, therefore, the provisions of paragraph 3(v) of the Order arc not applicable to the Company;

VI. The maintenance of cost records under sub-section (1) of section 148 of die Companies Act, 2013 is not applicable

to the company;

Y1I In respect of statutory dues;

n) (i) Id our opinion, the company is generally regular m depositing undisputed stamtory dues including Goods and Service tax, provident fund, employee state insurance, income-tax, duty of custom, cess and other statutory dues as applicable to the appropriate authorities, except in ease of following;

Category	Month of Delay	Days of Delay in payment	GST LIABILITY Amt. (in Lakhs )
Goods and Service tax	April, 2025	53	0.66
	May, 2025	24	3.86
	September, 2025	31	428.31
	October, 2025	9	0.07
	December, 2025	7	0.64
Tax Deducted at Source	March, 2026	57	1.65

(n)Thcrc were no undisputed amounts payable with respect to above stamtory dues in arrears as at March 31, 2026 for a period of six months from the date they became payable.

b) According to the information and explanations given to us and the records examined by us, there arc no statutory dues referred in sub-clause (a) has not been deposited on account of disputes except below:

Name of the Statute	Nature of dues	Amount (Rs. in Lakhs)	Period to which the amount relates	Forum where dispute is pending
The Income Tax Act, 1961	Notice of Demand	2.75 (Including interest thereon)	A.Y. 2023-24	Company has received the notice of demand for AY 2023-24 from income tax authorities. The company is in the process for replying to the demand raised
The Income Tax Act, 1961	TDS Defaults	0.30 (Including interest there on)	F.Y. 2025-26	The demand is generated by TDS department. The company is in the process for replying to the demand raised

VIII. The Company has no transactions which were, not recorded in die books of account, have been surrendered or disclosed as income during the year in the tax assessments under die Income Tax Act, 1961 (43 of 1961);

IX. (a) The Company has not defaulted in repayment ofloans or other borrowingRs! or in the payment of interest diereon to any bank lender;

(b) The Company is not declared wilful defaulter by any bank or financial institution or other lender;

(c) Hie Company has utilised the fund of term loan for the purpose for which the loans were obtained;

(d) We report that no funds raised on short-term basis have been used for long-term purposes by the Company;

(c) According to the information and explanations given to us and on an overall examinadon of the Standalone Financial Statements ol the company, we report that the company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiary Company.

(0 According to (he information ind explanation* given to us ami procedures pc formed by us, we report that the company litis not raised loans during the year on the pledge of securities held in its subsidiaries company.

1 he company has not rinsed money by way of initial public offer or further public c ffer i including debt ins i -1- i. ¦ : during the tear and hence reporting under this clause 3 (x)(a) is not applicable ro the Company.

XI (a) During the course of our examination of the books of account and records ot the Company, carried out in accordance u itb the generally accepted auditing practices in India and according ro the information and explanations given to us, we have neither came across any incidence of fraud on or by the Company noticed or reported during the year, nor we have been informed of any such case by the management;

(b) No report under sub-section (12) of section 143 of the Companies Act has been tiled in Form AD I-4 .... prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government, during the year and up to die date of this report.

(c) Whistle blower policy is not applicable to the company and hence reporting under this clause is not applicable;

XII. The Company is not a Nidhi company and hence the reporting under clause 3(.\ii) of the order is not applicable to the Company.

XIII. The Company is in compliance with Section 177 and 188 of die Companies Act where applicable, for all transactions with the related parties and the details of related party transactions have been disclosed in the Standalone Financial Statements as required by the applicable accounting standards.

.GY. In our opinion and the records examined by us, the company has an internal audit system commensurate with Luc size and nature of its business. We have considered report of the internal auditors for the period under audit;

XY. The Company lias not entered into anv non cash transactions with its directors or persons connected with hire. Therefore, the provisions of paragraph 3(xv) of the Order are not applicable;

XVI. (a) The Company is not required to lie registered under Section 45-LA of the Reserve Bank of India Act, 1934 and therefore, the provisions of paragraph 3(xvi) (a), (b) and (c) of the Order are not applicable;

(b) In our opinion, there is no core investment company within the Group (as defined in lie Cote Investment Companies (Reserve Bank) Directions, 20Id) and accordingly reporting under clause 3(xvi)(d) of tit. Order is not applicable;

XVII. The Company has not incurred any cash losses in the financial year and in the immediately preceding financial year;

XVIII. There has been no resignation of the statutory auditors during the year, hence this clause is not applicable to tin- company;

¦ OX. On the basis of the financial ratios, ageing ami expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the Standalone Financial Statements and our knowledge of the Board of Directors and Management plans and based on our examination of the evidence supporting the assumptions, noLhing has conic to our attention, which causes us to believe that any material uncertainty exists ns on the date of the audit report indicating that Company is not capable of meeting its Lab hides existing ac the date of balance sheet ns and when they fall due within a period of one year from the balance sheet date;

We, however, state that this is not an assurance as to the future viability of the Company. We further state that oa: reporting is based on the facts up to the date ot the audit report and we neither give any guarantee cor any assurance that all liabilities fairing due within a period of one year from the balance sheet date, will get discharged by tl.c Company as and when they fall due;

(a^ lilt- company is noi required in transfci unipriil amount l<> a lund specified in Schedule \ II to rhe Companies -\cl for oilier ihmi ongoing projects, iccordingly, rcporiing under clause 3(xxj(n) of die ()rder i-j not applicable lor the year;

(b) Hie company lias not spent any amount towards Corporate Social Responsibility <<\SR) on ongoing profit Accordingly, reporting under clause 3f.cx)(b) of the Order is not applicable for die vc.u.

For CNK & Associates LLP Charioted Accountants
Finn Registration No. 101961W/W-100036
lateen Shah
Partner Membership No 1 25011 Place; Ahmedabad Date: 2Sth May, 2026
UDIN: 2612501 IGF.UKDB5508

ANNEXllRE ir TO THE INDEPENDENT AUDITORS REPORT

Report on the Internal Financial Control* with reference to the aforesaid Standalone Financial Statement.* ittulcr danse (i) of sub-section 3 of section 143 of the Companies Act, 2013 (the Act)

OPINION

\\V have audited the internal financial controls with reference to Standalone Financial Statements of AlKAMFA A ENGINEERING LIMITED (the Company) as of Match 31. 2026 in conjunction with our nudir of the Standalone Financial Statements of the Company for (he year ended on that date

in our opinion, the Company has, in all material respects, adequate internal financial controls with rrlctcncc to Standalone Financial Statements and such internal financial controls were operating effectively as ar March 31, 2026, based on m internal financial controls with reference to Standalone Financial Statements criteria established by tin- Company considering the essential components of internal control stared in the Guidance Note on Audit of Internal Financial Controls Ox er Financial Reporting issued by the Institute of Chartered Accountants of India (the Guidance Note ;

MANAGEMENTS RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The Companys management and the Hoard of Directors arc responsible for establishing and maintaining internal financial controls based on die internal financial couUols with reference to Standalone Financial Statements criteria established by the Company considering the essential components of internal control stated in the (riddance Note, i hese responsibilities include the design, implementation and maintenance of adequate internal financial controls that were Operating effectively for ensuring die orderly and efficient conJuct 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 tIre accounting records, and the timely preparation of reliable financial informahon, as required under die Act.

AUDITORS RESPONSIBILITY

Our responsibility is to express an opinion on the Companys internal financial controls with reference to Stanamone Financial Statements based on our audit We conducted our audit in accordance with the Guidauce Note and the Standards on Auditing, prescribed under section 143(10) of the Act, to the extent applicable to an audit of internal financial controls, both issued by 1CA1 with reference to Standalone Financial Statements. 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 with reference to Standalone Financial Statements were established and maintained and whether such controls operated effectively in all material respects.

Our audic involves performing procedures to obtain audit evidence about the adequacy of the internal financial control:- with reference to Standalone Financial Statements and their operating effectiveness. Our audit of internal financial controls with reference to Standalone Financial Statements included obtaining an understanding of such internal financial controls, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on tlie assessed risk. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the Standalone 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 with reference to Standalone Financial Statements.

MEANING OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO STANDALONE FINANCIAL STATEMENTS

A companys internal financial controls with reference to Standalone Financial Statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Standalone Financial Statements for external purposes in accordance with generally accepted accounting principles. A companys intern:.) financial controls with reference to Standalone Financial Statements include those policies and procedures ri.at (i) perta: . to die maintenance of records that, in reasonable detail, accurately and fairly reilect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to per.rai preparation of Standalone Financial Statements in accordance with generally accepted accounting principles, and that receipts ami expenditures of the company arc being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys assets that could have a material effect on the Standalone Financial Statements,

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO STANDALONE FINANCIAL STATEMENTS

Because of the inherent limitations of internal financial controls with reference to Standalone Financial Statements, 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 finnnci.il control \v.t i reference to Standalone Financial Statements to future periods arc subject to the risk that the internal financial contro n with icfercncc to Standalone Financial Statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

For CNK iV Associates LLP
Chartered Accountants
Firm Registiarion No. 10196 tW/W-100036 7-XtU
Parccn Shah
Partner
Membership No. 125011
Place: Ahmedabad
Date: 28 ,u May 2026
l DIN: 26125011GEUKDB5508