Autofurnish Ltd Auditor Reports

To

The Board of Directors,

M/s Autofurnish Limited

(formerly known as Autofurnish Trading Limited)

K-55, Udyog Nagar, Peeragarhi,

Nangloi, West Delhi
New Delhi, 110041

Dear Sirs,

1. We, NYS & Company. ("we", "us" or "NYS & Co.") have examined the attached Restated Consolidated
Statements of Assets & Liabilities Autofurnish Limited (hereinafter referred to as "the Company") and its
subsidiaries (the company, its subsidiaries referred to as "Group"), as at March 31, 2025, March 31, 2024,
March 31, 2023, Restated Consolidated Statement of Profit and Loss and Restated Consolidated Statement
of Cash Flows for the financial year ended on March 31, 2025, March 31, 2024, March 31, 2023
(collectively referred to as the Consolidated Restated Summary Statements" or "Consolidated
Restated Financial Statements") annexed to this report and initialled by us for identification purposes.
These Consolidated Restated Financial Statements have been prepared by the management of the Company
and approved by the board of directors at their meeting held on September 25, 2025, for the proposed Initial
Public Offering ("SME IPO") of Equity Shares on Emerge Platform of Bombay Stock Exchange ("BSE
SME") of the Company.

2. The Restated Consolidated Financial Statements have been prepared in accordance with the requirements
of:

• section 26 of the Companies Act, 2013 (herein after referred to as "the Act") read with Companies
(Prospectus and Allotment of Securities) Rules 2014 as amended from time to time;

• The Securities and Exchange Board of India ["SEBI"] (Issue of Capital and Disclosure Requirements)
Regulations 2018 ("ICDR Regulations") and related amendments / clarifications from time to time
issued by the SEBI

• The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of
Chartered Accountants of India ("ICAI"), as amended from time to time (the "Guidance Note").

3. The Companys Board of Directors is responsible for the preparation of the Restated Consolidate Financial
Statements for the purpose of inclusion in the Draft Prospectus / Prospectus to be filed with Securities and
Exchange Board of India, Emerge Platform of Bombay Stock Exchange and Registrar of Companies in
connection with the proposed SME IPO. The Restated Consolidated Financial Statements have been
prepared by the management of the Company on the basis of preparation stated in Note No. 1 to the Restated
Financial Statements. The respective Board of Directors ofthe companies responsibility includes designing,
implementing and maintaining adequate internal control relevant to the preparation and presentation of the
Restated Consolidated Financial Statement. The respective Board of Directors are also responsible for
identifying and ensuring that the company complies with the Act, ICDR Regulations and the Guidance
Note.

4. We have examined such Restated Consolidated Financial Statements taking into consideration:

• The terms of reference to our engagement letter with the Company requesting us to carry out the
assignment, in connection with the proposed IPO of Equity Shares on Emerge Platform of Bombay
Stock Exchange ("IPO" or "SME IPO"); and

• The Guidance Note also requires that we comply with ethical requirements of the Code of ethics issued
by ICAI;

• Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence
supporting the Restated Consolidated Financial Information;

• the requirement of Section 26 of the Act, and the SEBI ICDR Regulations.

• Our work was performed solely to assist you in meeting your responsibility in relation to your
compliance with the Act, SEBI ICDR and the Guidance Note in connection with the issue.

5. We did not audit the Financial Statements of the Wholly Owned Subsidiary Company for the year ended
on at March 31, 2025, March 31, 2024, and March 31, 2023, whose share of profit/(losses) included in the
Restated Consolidated Financial Statements for the relevant years is tabulated below which have been
audited by other auditor for Golden Mace Private Limited (Wholly Owned Subsidiary Company) and have
been certified by management of the Company and in our opinion on the Restated Consolidated Financial
Statements in so far as it related to amounts and disclosures included in respect of Wholly Owned Subsidiary
Company is based on the report of such other auditor/ management certified financials.

(Rs. in Lakhs

Particulars	For the year ended 31st March, 2025	For the year ended 31st March, 2024	For the year ended 31st March, 2023
Profit after tax*	345.76	160.44	15.78

*The above figures reflects the consolidated groups share of profits/(losses).

6. The Restated Consolidated Summary Statements in relation to an Wholly Owned Subsidiary Company,

Golden Mace Private Limited, was examined by us, whose reports have been received and included in the

Restated Consolidated Summary Statements and it is also confirmed that the restated financial information

of such Wholly Owned Subsidiary Company:

• have been made after incorporating adjustments for changes in accounting policies, material errors and
regrouping/reclassifications retrospectively in the respective financial periods to reflect the same
accounting treatment as per the accounting policies and groupings/classifications as at March 31, 2025;

• does not contain any qualifications requiring adjustments; and

• have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note;

7. Based on our examination and according to the information and explanations given to us we report that the

Restated Consolidated Financial Information:

• have been prepared after incorporating adjustments for the changes in accounting policies, material
errors and regrouping/reclassifications to reflect the same accounting treatment as per the accounting
policies and grouping/classifications followed as at and for the financial years ended March 31, 2025,
March 31, 2024, March 31, 2023;

• have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

• an extra-ordinary item that needs to be disclosed separately in the accounts and have been disclosed
accordingly.

• There are no qualification in the Special Purpose Audit Report which required any adjustments.

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

Guidance Note and engagement letter, we report that:

• The "Restated Consolidated Statement of Asset And Liabilities" of the Company for the financial
year ended on March 31, 2025, March 31, 2024, and March 31, 2023 examined by us, as set out in
Annexure 1 to this report read with Significant Accounting Policies in Note No. 1 has been arrived at
after making such adjustments and regroupings to the consolidated financial statements of the
Company, as in our opinion were appropriate and more fully described in notes to the Restated
Consolidated Summary Statements to this report.

• The "Restated Consolidated Statement of Profit and Loss" of the Company for the financial year
ended on at March 31, 2025, March 31, 2024 and March 31, 2023 examined by us, as set out in
Annexure 2 to this report read with Significant Accounting Policies in Note No. 1 has been arrived
at after making such adjustments and regroupings to the consolidated financial statements of the
Company, as in our opinion were appropriate and more fully described in notes to the Restated
Consolidated Summary Statements to this report.

• The "Restated Consolidated Statement of Cash Flows" of the Company for the financial period/year
ended on at March 31, 2025, March 31, 2024 and March 31, 2023 examined by us, as set out in
Annexure 3 to this report read with Significant Accounting Policies in Note No. 1 has been arrived
at after making such adjustments and regroupings to the consolidated financial statements of the
Company, as in our opinion were appropriate and more fully described in notes to the Restated
Consolidated Summary Statements to this report.

9. The Restated Consolidated Financial Statements of the Company have been compiled by the management
from the consolidated financial statements of the Company for the financial year ended on March 31, 2025,
March 31, 2024 and March 31, 2023.

10. We have also examined the following other financial information relating to the Company prepared by the
management and as approved by the Board of Directors of the Company and annexed to this report relating
to the Company for the financial year ended on at March 31, 2025, March 31, 2024 and March 31, 2023
proposed to be included in the Draft Prospectus / Prospectus ("Offer Document").

11. Annexures to the Restated Consolidated Financial Statements of the Company:

Particulars	Annexures
Restated Consolidated Statement of Assets and Liabilities	1
Restated Consolidated Statement of Profit & Loss	2
Restated Consolidated Statement of Cash Flows	3
Statement Of Capitalisation	4
Statement of Restatement Adjustments to Audited Consolidated Financial Statements	5
Significant Accounting Policies and Other Explanatory Notes to Restated Consolidated Summary Statement	Note No. 1
Restated Consolidated Statement of Share Capital	Note No. 2
Restated Consolidated Statement of Reserves and Surplus	Note No. 3
Restated Consolidated Statement of Long Term Borrowings	Note No. 4
Restated Consolidated Statement of Non Current Provisions	Note No. 5
Restated Consolidated Statement of Short Term Borrowings	Note No. 6
Restated Consolidated Statement of Trade Payables	Note No. 7
Restated Consolidated Statement of Other Current Liabilities	Note No. 8
Restated Consolidated Statement of Current Provisions	Note No. 9
Restated Consolidated Statement of Current Tax Liabilities	Note No. 10
Restated Consolidated Statement of Property, Plants and Equipment & Intangible Assets	Note No. 11
Restated Consolidated Statement of Non Current Investments	Note No. 12
Restated Consolidated Statement of Long Term Loans and Advances	Note No. 13
Restated Consolidated Statement of Deferred Tax Assets/Liabilities	Note No. 14
Restated Consolidated Statement of Inventory	Note No. 15
Restated Consolidated Statement of Trade Receivables	Note No. 16
Restated Consolidated Statement of Cash and Bank Balance	Note No. 17
Restated Consolidated Statement of Short Term Loans and Advances	Note No. 18
Restated Consolidated Statement of Other Current Assets	Note No. 19
Restated Consolidated Statement of Revenue from Operations	Note No. 20
Restated Consolidated Statement of Other Income	Note No. 21
Particulars	Annexures
Restated Consolidated Statement of Cost of Material consumed	Note No. 22
Restated Consolidated Statement of Purchase of Stock in Trade	Note No. 23
Restated Consolidated Statement of Change in Inventory	Note No. 24
Restated Consolidated Statement of Employee Benefit Expenses	Note No. 25
Restated Consolidated Statement of Finance Cost	Note No. 26
Restated Consolidated Statement of Other Expenses	Note No. 27
Restated Consolidated Statement of Exceptional Items	Note No. 28
Restated Consolidated Statement of EPS	Note No. 29
Restated Consolidated Statement of Reconciliation of Effective Tax Rate	Note No. 30
Restated Consolidated Statement of Employee Benefits	Note No. 31
Restated Consolidated Statement of Regrouping of Balances	Note No. 32
Restated Consolidated Statement of Operating Lease	Note No. 33
Restated Consolidated Statement of Capital Management	Note No. 34
Restated Consolidated Statement of Liquidity Risk	Note No. 35
Restated Consolidated Statement of Segment Reporting	Note No. 36
Restated Consolidated Statement of Contingent Liabilities & Commitments	Note No. 37
Restated Consolidated Statement of Key Financial Ratios	Note No. 38
Restated Consolidated Statement of Other Financial Information	Note No. 39
Restated Consolidated Statement of Related Party Transaction	Note No. 40
Additional Regulatory Information	Note No. 41

12. The Report should not in any way be construed as a re-issuance or re-dating of any of the previous audit
reports issued by any other firm of Chartered Accountants nor should this report be construed as a new
opinion on any of the financial statements referred to therein.

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

14. In our opinion, the above financial information contained in Annexure 1 to 47 of this report read with the
respective Significant Accounting Policies and Notes to Restated Consolidated Summary Statements as set
out in Annexure 4 are prepared after making adjustments and regrouping as considered appropriate and
have been prepared in accordance with the Act, ICDR Regulations, Engagement Letter and Guidance Note.

15. Our report is intended solely for use of the management and for inclusion in the offer document in
connection with the SME IPO. Our report should not be used, referred to or adjusted for any other purpose
except with our consent in writing.

For NYS & Company

Chartered Accountants

Firms Registration No. 017007N

SD/-

 

CA Niitesh N Agrawal

Partner

Membership No.: 527125

Peer Review Certificate No. 015270

Place: New Delhi

Date: September 25, 2025

UDIN: 25527125BMONSF2514