Coreintegra Consulting Services Ltd Auditor Reports

To the Members of Coreintegra Consulting Services Limited

Report on the Audit of the Standalone Financial Statements Opinion

We have audited the standalone financial statements of Coreintegra Consulting Services Limited (Formerly known as Coreintegra Consulting Services Private Limited) ("the Company"), which comprise the Balance sheet as at March 31, 2025, the Statement of Profit and Loss and Statement of Cash Flows for the year then ended and notes to the standalone financial statements, including a summary of significant 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 ("the Act") in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2025, and profit and its cash flows for the year ended on that date.

Basis for Opinion

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

Other Information

The Companys Board of Directors is responsible for other information. The other information comprises the information included in the Boards Report including the Annexure to the Boards Report but does not include the financial statements and our auditors report thereon.

Our 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 the 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 appear 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 the fact. We have nothing to report in this regard.

Responsibility of Management for standalone financial statements

The Companys 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 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 the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgements 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 statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management 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 Board of Directors are also responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of the standalone financial statements

Our objectives are to obtain reasonable 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 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 an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

- 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 evidences that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control,

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3) (i) of the Act, we are 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 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 t:o the date of our auditors rgggffjf^Jsji^er, 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 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.

Report on Other Legal and Regulatory Requirements

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 Act, we give in the "Annexure A" statement on the matters specified in paragraphs 3 and 4 of the Order.

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

a. 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.

b. Except daily backup of payroll software on a server located in India, in our opinion proper books of account as required by law have been kept by the company so far as it appears from our examination of those books.

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

d. In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e. On the basis of written representations received from the directors as on March 31, 2025, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2025, from being appointed as a director in terms of section 164(2) of the Act.

f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate report in "Annexure B".

g. With respect to the other matters to be included in the Auditors Report in accordance with the requirements of section 197(16) of the Act, as amended, in our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act, read with Schedule V thereto. The remuneration paid to a director is in excess of the limits prescribed under section 197; however, such excess remuneration has been duly approved by the members of the Company through a special resolution in its meeting dated October 7, 2024.

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 and Companies (Audit and Auditors) Amendment Rules 2021, in our opinion and to the best of our information and according to the explanations given to us:

i. the Company does not have any pending litigations which would impact its financial position.

ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii. The Company is not required to transfer any fund to the Investor Education and Protection Fund.

iv. (a) The management has represented that, to the best of its knowledge and belief, other than as disclosed in

the notes to the accounts, 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.

(b) the management has represented, that, to the best of its knowledge and belief, no funds have been received by the Company from any person[s) or entity(ies), including foreign entities ("Funding Parlies"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, 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.

(c] In our opinion and to the best of our information and according to the explanations given to us and based on audit procedures that are reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause iv(a) and iv(b) contains any material mis-statement.

v. The Company has not declared or paid dividend for the year ended as at March 31, 2025.

vi. Based on our examination which included test checks, the Company has used an accounting software for maintaining its hooks of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software except that the audit trail feature of payroll software used by the Company to maintain payroll records did not operate throughout the year. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with. Additionally, the audit trail has been preserved by the Company as per the statutory requirements For record retention For the software in which feature of audit trail has been enabled.

The Annexure A referred to in our Report of even date to the members of Coreintegra Consulting Services Limited (Formerly known as Coreintegra Consulting Services Private Limited} for the year ended March 31,2025

As required by Companies (Auditors Report) Order, 2020 issued by the Ministry of Corporate Affairs, on the basis of checks of the books and records as we considered appropriate and according to the information and explanations given to us during the course of audit, we state as under: -

i. a) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of

Property, Plantand Equipment,

(B) The Company has maintained proper records showing full particulars of intangible assets except for certain softwares whose original cost of development is not traceable unit wise.

b) The Company has a regular programme of physical verification of its Property, Plant and Equipment (PPE) by which all items of PPE are physically verified in a phased manner once in every three years. In our opinion this periodicity is reasonable having regards to the size of the Company and nature of its PPE. No material discrepancies were noticed on such verification.

c) According to information and explanations given to us and on the basis of our examination of records of the Company, it does not have any immovable property. Accordingly, paragraph 3(i)(c) of the Order is not applicable to the Company.

d) The Company has not revalued its Property, Plant and Equipment or intangible assets during the year. Accordingly paragraph 3 (i)(d) of the Order is not applicable to the Company.

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

ii. a) The Companys nature of operation does not require it to hold inventories, Accordingly, paragraph 3(ii)(a) of the Order is

not applicable to the Company.

b) The Company has been sanctioned working capital limit of INR 677.43 Lakhs from ICICI Bank on die basis of security of fixed deposit. Further as per the bank sanction letter Compnay is not required to furnish any quarterly retuns or statements.

iii. According to the information and explanations given to us and on the basis of our examination of the records of the Company, it lias not made any investments, provided guarantee or security or granted any advances in the nature of the loans, secured or unsecured to companies, firms, limited liability partnerships or any other parties during the year except loans/inter corporate deposits(ICD)and guarantees given to subsidiary Company and other parties mentioned in sub-clauses (a) and (b) below:

a) A. Based on the audit procedures carried on by us and as per the information and explanations given to us, the Company has granted loans to its wholly owned subsidiary and associates as given below:

Amounts in INR Lakhs

Particulars	Guarantees	Security	Loans/ICD	Advances in nature of loans
Aggregate amount granted/ provided during the year
-Subsidiaries	-	-	6.67	-
- Joint Ventures	-	-	-	-
- Associates	-	-	-	-
-Others	-	-	-	-
Balance outstanding as at balance sheet date
-Subsidiaries		-	26.21	-
- Joint Ventures		-		-
- Associates		-	-	-
- Others		-	-	-

B. Based on the audit procedures carried on by us and as per the information and explanations given to us, the Company has given Guarantee on behalf of the Company which are under control of Key Management Personnel below;

				Amounts in INR Lakhs
Particulars	Guarantees	NTER>Security	Loans	Advances in nature of loans
Aggregate amount granted/ provided during the year
- Others	62.73	-	-	-
Balance outstanding as at balance sheet date
- Others	62.73	-	-	-

b) According to the information and explanations given to us and based on the audit procedures conducted by us, we are of die opinion that the terms and conditions of the loans/!CD and Guarantee given are prima facie, not prejudicial to the interest of the Company.

c) According to the information and explanations given to us and on the basis of our examination of the records of the Company,, in the case of loans/ICD given, the repayment of principal and interest has been stipulated and the repayments or receipts have been regular,

d) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no overdue amount for more than ninety days in respect of loans/iCD given.

e) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no loan/inter corporate deposits given fallen due during the year, which has been renewed or extended or fresh loans/ICD given to settle the overdoes of existing loans given to the same party.

f) 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 given any loans/iCD either repayable on demand or without specifying any terms or period of repayment.

tv. According to the information and explanations given to us and on the basis of the examination of the records, the Company has given loans/ICD and guarantee. Further the Company has complied with the provisions of Section 18S and 186 of the Companies Act, 2013 in relation to loans/ICD and guarantee given.

v. According to the information and explanations given to us and based on the audit procedures performed by us. the Company has not accepted any deposits and hence directives of the Reserve Bank of India and the provisions of the Act and the Rules framed there under are not applicable to the Company. There are no orders passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India for contravention of sections 73 to 76 of the Act or any relevant provisions of the Act and relevant rules.

vi. We are Informed that Company is not required to maintain cost records in terms of section 148 of the Act.

vii. a) The Company is generally regular in depositing with appropriate authorities undisputed statutory dues including Goods and Services Tax, Provident Fund, Employees State Insurance, income-tax, Cess and other material statutory dues during the year with appropriate authorities.

According to the information and explanations given to us, no undisputed amounts payable in respect of applicable statutory dues were in arrears for a period exceeding six months as at the end of the financial year from the date they became payable, except in case of following;

Name of the Statute	Nature of the Dues	Amount in INR (lakhs)	Period to which the amount relates	Due Date	Date of Payment	Remarks
Employee Provident Fund and Miscellaneous Provisions Act, 1952	Provident Fund	10.42	FY 21-22	Various Date	Not yet paid
		17.24	FY 22-23
		7.05	FY 24-25
		4.06	FY 24-25
Maharashtra	Labour Welfare Fund	4.01	FY 23-24	Various Date	Not yet paid
Labour		0.57	FY 24-25
Welfare Fund
Act, 1953
Profession Tax	Profession Tax - PTRC	0.17	FY 22-23	Various Date	Not yet paid
Act of various		1.22	FY 23-24			*
states		1.65	FY 24-25

b} According to the information and explanations given to us, there are no dues of sales tax, income tax, customs duty, wealth tax, excise duty, service tax and cess not been deposited on account of any dispute.

viii. According to information and explanations given to us, there were no transactions identified as surrendered or undiclosed income

in tax assessments tinder Income tax Act, 1961 which needs to be reported as income during the year. Accordingly paragraph

3 (viii) of the Order is not applicable to the Company.

ix. a) According to the information and explanations given to us and based on the audit procedures performed by us, the Company has not defaulted in repayment of loans or other borrowings or in payment of interest thereon to any lender.

b) According to the information and explanations given to us and on the basis of our audit procedures, the Company has not been declared wilful defaulter by any bank or financial institution or any other lender.

c) According to the information and explanations given to us and on the basis of our audit procedures, the Company has not availed any term loan during the year. Accordingly Paragraph 3(ix) (c) of the Order, regarding application of loans for intended purpose, is not applicable to the Company.

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) According to the information and explanations given to us and on an overall examination of the financial statements of the Company, it has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures.

f) According to the information and explanations given to us and on an overall examination of the financial statements of the Company, it has not raised any loan on pledge of securities held in its subsidiaries, joint ventures or associate companies.

x. a) in our opinion and according to the information and explanations given to us, the Company has not raised any money by

way of public offer, further public offer (Including debt instruments) during the year,

b) The Company has not made any preferential allotment or private placement of shares or fully, partly or optionally convertible debentures during the year.

xi. a) According to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the course of our audit

b) According to the information and explanations given to us, we have not come across fraud committed in the Company by its officers or employees and hence reporting under section 143(12) of the Act read with Rule 13 of Companies (Audit and Auditors) Rules, 2014 is not applicable to the Company.

c) As represented to us by the management, there are no whistle blower complaints received by the Company during the year,

xii. The Company is not a Nirihi Company,

xiii. In our opinion and according to the information and explanations given to us, the Company was required to constitute an Audit Committee under Section 177 of the Companies Act, 2013, upon its conversion into a public company on October 14, 2024, as its turnover exceeded INR100 Crore as on March 31, 2024, However, the Audit Committee was constituted on March 27, 2025. Consequently, the Company was not in compliance with the requirement to have an Audit Committee in place during the period from October 14, 2024 to March 26,2025.

Further, we observed that related party transactions were entered into during this period without the prior approval of an Audit Committee as required under Section 177(4) of the Act. Post facto approval of the Audit Committee has been obtained on 15 May 2025 in respect of such related party transactions.

xiv. a) In our opinion and based on our examination, the Company has an internal audit system commensurate with the size and nature of its business.

b) We have considered the internal audit reports of the Company for the period under audit.

xv. According to die information and explanations given to us, in our opinion, during the year the Company has not entered into any non-cash transactions with directors or persons connected with its directors and hence provisions of Section 192 of the Act are not applicable to the Company.

xvi. a) The Company is not required to be registered as Non-banking Finance Company as required under Section 45-1A of the Reserve Bank of India Act, 1934.

b) According to the Information and explanations given to us, the Company has not conducted any non banking financial or housing Finance activities. Accordingly Paragraph 3(xvi) (b) of the Order is not applicable to the Company.

c) According to the information and explanations given to us, the Company is not a Core Investment Company (CIC) as defined in regulations made by Reserve Bank of India.

d) As represented to us by the management, there are no Core i nvestment Company in the group,

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

xviii. There has been no resignation of the statutory auditors during the year. Accordingly Paragraph 3(xvii0 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 realization 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 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 fail due.

xx. According to the information and explanations given to us, the Company does not have any ongoing project for the purpose of CSR spending, Accordingly, provision of paragraph 3(xx)(b) regarding transfer of unspent amount of CSR spending is not applicable to the Company.

xxi. As this report is for standalone financial statements of the Company, the provisions of reporting of qualifications or adverse remarks for respective companies included in consolidation is not applicable.

Aiinexure B referred to in our Report of even date to the members of Coreintegra Consulting Services Limited (Formerly known as Coreintegra Consulting Services Private Limited) for the year ended March 31, 2025

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 14-3 of the Act

We have audited the internal financial controls over financial reporting of Coreintegra Consulting Services Limited ("the Company") as at March 31, 2025 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys management is responsible for establishing and maintaining internal financial controls based on the internal financial control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the ICA1. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on our audit.

We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the Standards on Auditing, issued by the Institute of Chartered Accountants of India ("the 1CAI") and deemed to be prescribed under section 143(10) of the Act, to the extent applicable to an audit of internal financial controls, both applicable to an audit of internal Financial Controls and, both issued by the 1CA]. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting including obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgement, incuding 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 over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A Companys internal financial control over financial reporting 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 internal finacnial control over financial reporting includes those policies and procedures that:

1 Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company;

2 Provide reasonable assurance that transactions are recorded as necessary to permit accepted accounting principles, and that receipts expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and

3 Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Companys assets that could have a material effect on the standalone financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliances with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in ail material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2025 based on the internal control over financial reporting criteria established by the Company considering the essential components of internal financial control stated in the Gudiance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the ICAI.