Birla Transasia Carpets Ltd Auditor Reports

the Members of Birla TransAsia Carpets Limited To

the Audit of the Standalone Financial Statements Report on Opinion of Birla TransAsia Carpets Limited ("the We have audited the standalone financial statements as at 31st March 2026, and the statement of Profit company"), which comprise the balance sheet for the year then ended, and notes to the financial and Loss, and statement of cash flows accounting policies and other explanatory statements, including a summary of significant referred to as “the Financial Statements"). information (hereinafter information and according to the explanations given to us, the In our opinion and to the best of our required by the Companies Act, 2013 (‘the Act) aforesaid financial statements give the information and fair view in conformity with the accounting principles in the manner so required and give a true state of affairs of the Company as at March 31, 2026, and its Loss, generally accepted in India, of the and its cash flows for the year ended on that date.

Basis for Opinion the Standards on Auditing (SAs) specified under section We conducted our audit in accordance with under those Standards are further described in the Auditors 143(10) of the Act. Our responsibilities Financial Statements section of our report. We are independent Responsibilities for the Audit of the with the Code of Ethics issued by the Institute of Chartered of the Company in accordance the ethical requirements that are relevant to our audit of the Accountants of India together with provisions of the Companies Act, 2013 and the Rules there under, financial statements under the ethical responsibilities in accordance with these requirements and and we have fulfilled our other the Code of Ethics. evidence we have obtained is sufficient and appropriate to provide a basis We believe that the audit for our opinion.

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

Information other than the Financial Statements and Auditors Report thereon

The Companys management and Board of Directors are responsible for the other information. The other information comprises the information included in the Companys annual report but does not include the financial statements and our auditors report thereon. Our opinion on the 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 financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed on the other information obtained prior to the date of this auditors report, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Managements responsibility for the Financial Statements

The Companys Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance, and cash flows of the Company in accordance with the 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 financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the 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 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 Financial Statements

Our objectives arc to obtain rcasonable assurance about whether the financial statements 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 financial statements. As part of-a v accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: a. Identify and assess the risks of material misstatement of the 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 than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. b. Obtain an understanding of internal control 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 entitys internal controls c. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management

. d. 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 we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the financial statements 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. e. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements 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 safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial Statements of the current period and are thereof the Key Audit Matters. We describe these matters in our

Auditors Report unless law or regulations precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that the matter should not be communicated in our Report because the adverse consequences of doing so would reasonably be expected to outweigh the public such communication interest benefits of

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 the extent applicable

As required by Section 143(3) of the Act, we report that:

We 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;

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;

The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account;

In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, as amended from time to time;

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 as a director in terms of Section 164(2) of the Act;

With respect to the adequacy of the internal financial controls with reference to financial statements of the Company and the operating effectiveness of such controls, the company is exempt from getting an audit opinion on internal financial control;

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. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. ii. There were no amounts which were required to be transferred to the

Investor Education and Protection Fund by the Company. iii. The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts,

(i) 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, directly or indirectly 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;

(i) no funds have been received by the company from any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons 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

Based on audit procedures carried out by us, that we have considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the above two representations contain any material misstatement. iv. The company has not declared or paid any dividend during the year and accordingly reporting on the compliance with Section 123 of the Companies

Act, 2013 is not applicable for the year under consideration

. v. Based on our examination which included test checks, the Company has used accounting software for maintaining its books of account, which have a feature of recording audit trail (edit log) facility, however the same has not enabled throughout the year for all relevant transactions recorded in the software. This is due to reasonable cause as stated in notes to account point no. (xviii). Hence, we are unable to comment on the same. vi. During the year, the Company incurred losses. Accordingly, it did not pay any remuneration to its directors, including any Managing Director, Whole- time Director, or Manager, in compliance with Section 197(3) of the Act.

Annexure A to Independent Auditors Report

Referred to in the Independent Auditors Report of even date to the members of Birla TransAsia Carpets Limited on the Financial statements as of and for the year ended March 31, 2026.

(i) Inrespect of the Companys Property, Plant and Equipment and Intangible Assets:

(a) (A) In our opinion and according to the information and explanations given to us, the Company do not have any property, plant and equipment, hence this clause is not applicable. (B) The Company do not have any Intangible assets, hence this clause is not applicable.

(b According to the information and explanations given to us and the records examined by us, we Report that, the company do not hold any property, plant and equipment. Accordingly, paragraph 3 (i) (b) of the Order is not applicable. (c] According to the information and explanations given to us and the records examined by us, we Report that, there are no immovable properties held in the name of the company.

(d The Company has not revalued its property, plant and equipment (including right of use asset) during the year. Accordingly, paragraph 3 (i) (d) of the Order is not applicable.

(e In our opinion and according to the information and explanations given to us, there are no proceedings 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 thereunder. Accordingly, paragraph 3 (i) (e) of the Order is not applicable. (ii) In respect of companys inventory: R

(a) In our opinion and according to the information and explanations given to us, the company does not hold any inventory. Accordingly, paragraph 3(ii)(a) is not applicable (b) In our opinion and according to the information and explanations given to us, the Company has not availed any working capital limits from banks which are secured on the basis of security of current assets. Accordingly, paragraph 3(ii)(b) is not applicable. (iii} In our opinion and according to information and explanation given to us, during the year the Company has not made investments in/ provided any guarantee or security/ granted any loans or advances in the nature of loans, secured or unsecured to Companies, Firms, Limited Liability Partnerships or other parties during the year. Accordingly, paragraph 3 (iii) of the Order is not applicable. (iv) In our opinion and according to information and explanation given to us, the company has complied with the provision of Section 185 and 186 of the Companies Act, 2013 apply. (v) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits or amounts which are deemed to be deposits during the year. Accordingly, paragraph 3 (v) of the Order is not applicable. (vi) According to the information and explanations given to us, the Company is not required to maintain Cost accounts and records as specified by Central Government under sub section (1) of Section 148 of the Companies Act 2013. Accordingly, paragraph 3(vi) is not applicable.

(vii) In our opinion and according to the information and explanations given to us:

(a) Amounts deducted/ accrued in the books of account in respect of undisputed statutory dues including goods and services tax, provident fund, employees state insurance, income- tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess ang.other material statutory dues have been generally regularly deposited by the Company with the appropriate authorities. There are undisputed amounts payable in respect of provident fund, employees state insurance, income-tax, Goods and Services Tax, duty of customs, cess and other material statutory dues were in arrears as at March 31, 2026 for a period of more than six months from the date they became payable except for due as mentioned below

Name of the statute	Nature of the dues	Amount(Rs)	Period for which the amount relates	Due date	Date of payment
Central excise Act, 1944	Excise duty	13,32,900	2003- 04&2004-05	31.03.2005	Not paid
	Interest	7,06,000	2003-04	Upto 31.03.04	Not paid
	Interest	7,70,000	2004-05	Upto 31.03.05	Not paid
Delhi sales tax Act,1975	Interest	4,56,718	2005- 06 2006- 07	Upto 31.03.06	Not paid
	Interest	2,08,293		Upto 31.03.06	Not paid
	Sales tax	14,67,631	2004-05	31.03.2005	Not paid
Fringe benefit tax	FBT	53,005	2006-07	31.03.20	Not paid
	FBT	1,31,438	2008-09	15.12.2008	Not paid
The Income tax Act, 1951	TDS u/s 194J	1,19,383	2016- 17	30.04.2017	Not paid
	TDS u/s 1941	34,760	2017- 18
		30000
SEBI Regulations	Annual listing fees	1,12,360	2014- 15	Nil	Not paid
		1,14,500	2015- 16		Not paid
		2,30,000	2016- 17
		2,30,000	2017- 18
Employees State Insurance Corporation	Final arrears of contribution	93,921	May 2006- March 2011	03.11.2015	Not paid

 

Name of the statute	Name of the dues	Amount (Rs)	Period to which the amount relates	Forum where dispute is pending
UP sales tax	Sales Tax	28,75,0179.545	1998-99	Joint commissioner of state tax(appeal) Uttarpradesh Deputy commissioner, Uttarpradesh
			2001-02
UP sales tax	Sales Tax	75,196	2004-05	DO
		14,53,367	2005-06	DO
		8,59,396	2006-07	DO
		5,04,180	2007-08	DO
		12,890	2009-10	DO-—
		71,419	2010-11	DO
		90,903	2011-12	DO
Delhi sales	Sales tax	1,14,038	1985-86	Deputy commissioner of sales tax (appeal) Delhi
tax Act, 1975		68,956	1990-91
		1,09,656	1993-94
		1,73,753	1994-95
		39,004	1995-96	DO—
		1,18,144	1996-97	DO
		87,794	1997-98	DO -
		16,02,224	1998-99	DO
		25,66,329	1999-00	DO—-
		7,38,160	2000-01.	DO
		1,22,840	2001-02	DO —
		1,53,361	2002-03	DO
		4,40,128	2003-04	DO
		12,536	2003-04	DO
		1,28,158	2004-05	DO

(viii) 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 surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the

(ix)

(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 did not have any loans or borrowings from any lender during the year. Accordingly, paragraph 3(ix)(a) is not applicable (bj In our opinion and according to the information and explanations given to us, the Company is not declared as a wilful defaulter by any Bank or Financial institution or other lender. (c] In our opinion and according to the information and explanations given to us, the Company has not obtained any term loans and accordingly paragraph 3(ix)(c) of the order is not applicable. (d! According to the information and explanations given to us, and the procedures performed by us, and on an overall examination of the Financial Statements of the Company, we report that no funds raised on short-term basis have been used for long-term purposes by the Company. (e] The Company does not have any subsidiaries/ associates/ joint-ventures and accordingly, paragraphs 3(ix)(e) and 3(ix) (f) of the Order are not applicable.

(al In our opinion and according to the information and explanations given to us, the Company has not raised any money by way of initial public offer or further public offer (including debt instruments) during the year. Accordingly, paragraph 3(x)(a) of the Order is not applicable. (b) In our opinion and according to the information and explanations given to us, the Company has made preferential allotment of shares during the year, accordingly we report that the preferential allotment is in accordance with relevant provisions of the Act and Rules. The details of preferential allotment is disclosed in financial statements.

(xi)

(a To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company or no material fraud on the Company by any person has been noticed or Reported during the year. Accordingly, paragraph 3(xi)(a) of the Order is not applicable.

(b Since there is no fraud by the Company or no material fraud on the Company by any person has been noticed or Reported during the year, paragraph 3(xi)(b) of the Order is not applicable. (c) To the best of our knowledge and according to the information and explanations given to us, no whistle-blower complaints, have been received by the Company during the year. (xii) The Company is not a Nidhi Company and accordingly, Paragraphs 3(xii) of the Order is not applicable. (xiii) In our opinion and according to the information and explanations given to us, the transactions with the related parties are in compliance with Section 188 of the Act and Section 177 is not applicable to the company. Where applicable, the details of such transactions have been disclosed in the Financial statements as required by the applicable accounting standards. (xiv) Since company is not requirad to maintain an internal audit cystem henca paragraph 3(xiv) ic not applicable to the Company. (xv) In our opinion and according to the information and explanations given to us, the Company has not entered into non-Cash transactions with directors or persons connected with them. Accordingly, paragraph 3 (xv) of the Order is 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-IA of the Reserve Bank of India Act 1934. (b; In our opinion and according to the information and explanations given to us, 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 according to the information and explanations given to us, the Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly, paragraph 3(xvi)(c) of the Order is not applicable.

(d In our opinion and according to the information and explanations given to us, the Company is not a Core Investment Company (CIC) and it does not have any other Companies in the Group. Accordingly, paragraph 3(xvi)(d) of the Order is not applicable. (xvii) In our opinion and according to the information and explanations given to us , the Company has not incurred cash losses in the current financial year. Accordingly, paragraph 3(xvii) of the Order is not applicable. (xviii) There has been no resignation of the statutory auditors during the year. Accordingly, paragraph 3(xviii) of the Order is not applicable. (xix) According to the information and explanations given to us and 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 financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of meeting its liabilities existing at the date of balance sheet as 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 our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due. (xx) In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of Section 135 of the Companies Act, 2013 pursuant to any project. Accordingly, paragraph 3(xx)(a) and 3(xx)(b) of the Order are not applicable. (xxi) The financial statements of the company are prepared on stand alone basis and no financial statements of any other company are included in the financial statements of the company, therefore paragraph 3(xxi) of Order is not applicable.

CA Vyankatesh G. Joshi

Place: Mumbai

Date: 22/05/2026

Membership No. 600451

UDIN: 26600451HBZTYQ7226