Cupid Ltd Auditor Reports

To

The Members of Cupid Limited

Report on the Audit of the Standalone Financial Statements
Opinion

We have audited the accompanying standalone financial statements of Cupid Limited (hereinafter referred as "the Company"), which
comprise the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss (including Other Comprehensive Income), the Cash
Flow Statement and the Statement of Changes in Equity for the year then ended, and a summary of significant accounting policies and
other explanatory information. (Flereinafter referred to as the "Financial Statement")

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give
the information required by the Companies Act, 2013 as amended ("the Act") in the manner so required and give a true and fair view in
conformity with the accounting principals generally accepted in India, of the state of affairs of the Company as at March 31, 2026, and
its profit and other comprehensive income, its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance with the Standards on Auditing specified under section 143(10)
of the Act (SAs). Our responsibilities under those Standards are further described in the Auditors Responsibility 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 (ICAI) together with the ethical requirements that are relevant to our audit of the financial
statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence obtained by us is sufficient and
appropriate to provide a basis for our audit opinion on the 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 financial statements
of the current period. These matters were addressed in the context of our audit of the 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 the matters described below to be the key audit matters to be communicated in our report.

The Key Audit Matter	How the matter was addressed in our report
Revenue from sale of products	Our audit procedures included the following:
Revenue is recognised when the entity has transferred the control for the promised goods or on completion of performance obligation. The Company has a large number of customers operating in various geographies and sale contracts with customers have different terms relating to the recognition of revenue.	-We evaluated the Companys accounting policies related to revenue recognition and assessed its compliance in terms of Ind-AS 115 Revenue from contracts with customers;
The Company recognizes revenue from sale of goods when control of the goods has been transferred and when there are no longer any unfulfilled obligations to the customer and the amount of revenue can be measured reliably and recovery of the consideration is probable.	-We performed a walkthrough, evaluated the design and tested the operating effectiveness of controls related to the revenue recognition process;
	-Tested the design, implementation and operating effectiveness of the Companys general IT controls and key IT/manual controls. These are in respect of the Companys controls which govern timing of recognition of revenue including creation of new customers in system.
	-For revenue from sale of products, we selected samples (including year- end testing of cut-off transactions) and tested the underlyingdocuments, including customer contracts, invoices and shipping documents to assess and analyse the timing of recognition of revenue and contractual terms; Performed trend analysis over revenue as compared to previous periods.

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 inthe Management discussion
and Analysis, Boards reports including annexure to board report,
Business responsibility report, Corporate Governance report
and shareholder information 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 during
our 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. We have nothing to report in this regard.

Responsibility of Management for the Standalone Financial
Statements

The Companys management and 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 including
other comprehensive income, cash flows and changes in equity of
the Company in accordance with the Indian Accounting Standards
prescribed under section 133 of the Act read with the Companies
(Indian Accounting Standards) Rules, 2015, as amended and
other accounting principles generally accepted in India.

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 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 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
forassessingthe Companys ability to continue as a goingconcern,
disclosing, as applicable, matters related to going concern and
using the goingconcern 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 Responsibility 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 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 an audit in accordance with SAs, we exercise professional
judgment 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 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.

- Obtain an understanding of internal financial 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 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 the management and board of directors.

- 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.

- Evaluate the overall presentation, structure and content of the
financial statements, including the disclosures, and whether
the financial statements represent the underlyingtransactions
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 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 therefore the key audit matters. We 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 Act, we give
in the "Annexure A", a statement on the matters specified
in paragraphs 3 and 4 of the Order, to the extent applicable.

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

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

b) 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, the Statement of Profit and Loss
including Other Comprehensive Income, the Cash Flow
Statement and Statement of Changes in Equity dealt
with by this Report are in agreement with the books of
account.

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

e) On the basis of the written representations received from
the directors as on March 312026 taken on record by the
Board of Directors, none of the directors is disqualified as
on March 31, 2026 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".

B) With respectto 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:

a) As per explanation given to us by the Management of the
Company, the Company has no pending litigations which
would impact its financial position as on 31st March,
2026.

b) The Company did not have any long-term contract
including derivatives contract for which there were any
material foreseeable losses.

c) There has been no delay in transferring amount, required
to be transferred to the Investor Education and Protection
Fund by the Company.

d) i) The management has represented that, to the best
of its knowledge and belief, as disclosed in the note
no. 47(h) of the financial statements, 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 persons or entities, including foreign entities ("Intermediaries"), with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Company, or provide
any guarantee, security, or the like to or on behalf of the Ultimate Beneficiaries.

ii) The management has represented, that, to the best of its knowledge and belief, as disclosed in the note 47 (h) of the financial

statements, no funds have been received by the Company from any persons or entities, including foreign entities ("Funding
Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or
invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding
Party or provide any guarantee, security, or the like from or on behalf of the Ultimate Beneficiaries.

iii) Based on such audit procedures as considered reasonable and appropriate in the circumstances, nothing has come to our
notice that has caused us to believe that the representations under sub-clause (i) and (ii) of rule ll(e), as provided under (a)
and (b) above, contain any material misstatement.

e) No dividend has been declared or paid duringthe year by the Company.

f) With respect to the matter to be included in the Auditors Report under section 197(16): In our opinion and according to the
information and explanations given to us, the remuneration paid by the company to its directors duringthe current year is in
accordance with the provisions of Section 197 of the Act.

C) Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of
accounts for the financials year ended 31st March 2026 which has a feature of recording audit trail (Edit Log) facility and the same
has been operated throughout the year for all relevant transaction recorded in the software. Further, duringthe course of our audit,
we did not come across any instances of the audit trail feature being tampered with. Additionally, the audit trail of prior years has
been preserved by the company as per the statutory requirements for record retention.

For Chaturvedi Sohan& co.

Chartered Accountants

FRN:118424W

Vivekanand Chaturvedi

Partner Place: Mumbai

M No. 106403 Date: May 15, 2026

UDIN: 26106403TMQBNM9443

"Annexure A"

"Annexure A" to the Independent Auditors Report on the
Standalone Financial Statements of Cupid Limited for the year
ended March 31, 2026

Referred to in paragraph 1 under the heading Report on Other
Legal & Regulatory Requirement of our report of even date to
the financial statements of the Company for the year ended
March 31, 2026:

i. In respect of the Company Fixed Assets:

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

ii) The Company has maintained proper records showing full
particulars of intangible assets.

b) According to the information and explanation given to
us and on the basis of our examination of the records
of the Company, the property, plant, and equipments
have been physically verified by the management in a
phased manner, designed to cover all the items over a
period of three years, which in our opinion, is reasonable
having regard to the size of the company and nature of its
business. Pursuant to the program, a portion of the fixed
asset has been physically verified by the management
during the year and no material discrepancies between
the books records and the physical fixed assets have
been noticed.

c) The title deeds of immovable properties (which are
included under the Note 2 - Property, plant and
equipment) are held in the name of the Company.

d) 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 revalued its Property,
Plant and Equipment (including Right of Use assets) or
intangible assets or both during the year.

e) According to information and explanations given to us
and on the basis of our examination of the records of the
Company, there are no proceedings initiated or pending
against the Company for holding any benami property
under the Prohibition of Benami Property Transactions
Act, 1988 and rules made thereunder.

ii. a) The inventory, except for goods in transit, has been
physically verified by the management at reasonable intervals
during the year. In our opinion, the frequency of such
verification is reasonable, and procedure and coverage as
followed by management were appropriate. No discrepancies
were noticed on verification between the physical stocks and

the book records that were more than 10% in the aggregate of
each class of inventory.

b) According to the information and explanation given to
us and on the basis of examination of the records of the
Company, the Company has been sanctioned working
capital limits in excess of five crore rupees, in aggregate,
from banks or financial institutions on the basis of
security of current assets. In our opinion, the quarterly
returns or statements filed by the Company with such
banks or financial institutions have no material variation
with the books of account of the Company

iii. According to the information and explanation given to us and
on the basis of our examination of the records of the Company,
the Company has not provided any guarantee to companies,
firms, Limited Liability Partnerships or any other parties during
the year. Flowever, the Company has made investments and
granted loans during the year.

(a) Details of loans outstanding as at balance sheet date are
as follows:

in I

Particular	Loan
Balance outstanding as
at balance sheet date: All	9.10
Parties

(b) In our opinion and according to the information and
explanations given to us, the terms and conditions of the
grant of all loans are not prejudicial to the Companys
interest.

(c) In our opinion and according to the information and
explanations given to us, in respect of loans granted by
the Company, the schedule of repayment of principal
and payment of interest has been stipulated and the
repayments of principal amounts and receipts of interest
are generally regular as per stipulation.

(d) In our opinion and according to the information and
explanations given to us, and on basis of our examination
of the records of the company, there is no overdue amount
for more than ninety days in respect of loans and advances
in the nature of loans.

(e) In our opinion and according to the information and
explanations given to us, neither loans or advances in
nature of loans have been renewed or extended nor any
fresh loans have been granted to settle the overdue of
existing loans.

(f) During the year the Company has granted unsecured loan
which is repayable on demand or without specifying any
terms or period of repayment, as per details below.

(Rs in Lacs)
Particular	All Parties	Promotors	Related Parties
Aggregate of loans/advances in nature of loan - Repayable on demand (A)	18,869.50	-	4.60
- Agreement does not specify any terms or period of repayment (B)	-	-	-
Total (A+B)	18869.50	-	4.60
Percentage of loans/advances in nature of loan to the total loans	99.98%	-	0.02%

iv. In our opinion and according to the information and explanations given to us, the company has not granted any loans or provided
any guarantees or security to the parties covered under section 185 of the Act. The Company has complied with the provision of the
section 186 of the Act in respect of Investment made or loan or guarantee or security provided to the parties covered under section
186 of the Act.

v. In our opinion, the Company has not accepted any deposits within the meaning of Sections 73 to 76 of the Act and the Companies
(Acceptance of Deposits) Rules, 2014 (as amended). Accordingly, the provisions of clause 3(v) of the Order are not applicable.

vi. Pursuant to the rules made by the Central Government of India, the Company is required to maintain cost records as specified under
Section 148(1) of the Act in respect of its products. We have broadly reviewed the same, and are of the opinion that, prima facie,
the prescribed accounts and records have been made and maintained. We have not, however, made a detailed examination of the
records with a view to determine whether they are accurate or complete.

vii. A) According to information and explanations given to us and on the basis of our examination of the books of account, and records,
the Company has been generally regular in depositing undisputed statutory dues including Provident Fund, Employees State
Insurance, Income-Tax, Sales tax, Service Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other statutory dues
with the appropriate authorities.

According to the information and explanations given to us, no undisputed amounts payable in respect of the above were in arrears
as at March 31, 2026 for a period of more than six months from the date on when they become payable.

B) According to the information and explanation given to us, and on the basis of our examination of the records of the Company, no
statutory dues relating to Goods and Service Tax, Provident Fund, Employees State Insurance, Income-Tax, Duty of Customs or Cess
or other statutory dues which have not been deposited on account of any dispute.

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 Income Tax Act, 1961 as income during the year.

ix. a) According to the records of the company examined by us and the information and explanation given to us, the company has not
defaulted in repayment of loans and borrowings or interest thereon to any lender.

b) 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 been declared a willful defaulter by any bank or financial institution or government or government
authority.

c) In our opinion and according to the information and explanations given to us by the management the company has not taken
any term loan during the year hence this clause of the order is not applicable to the Company.

d) According to the information and explanations given to us and on an overall examination of the balance sheet 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, 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 subsidiaries or joint venture as defined under the Act.

f) According to the information and explanations given to us and procedures performed by us, we report that the Company has
not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures companies as defined under
the Act.

x. a) The Company has not raised moneys by way of initial public offer or further public offer (Including debts instruments) during the
year. Accordingly, clause 3(x)(a) of the Order is not applicable.

b) According to the information and explanations given to us, the Company has not made any preferential allotment or private
placement of the shares or convertible debentures (Fully, partially or optionally convertible) during the year.

xi. a) Based upon the audit procedures performed and the information and explanations given by the management, we report that no
fraud by the Company or on the company by its officers or employees has been noticed or reported during the year.

b) According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been

filed by the auditors in Form ADT-4 as prescribed under Rule 13 of the Companies (Audit and Auditors) Rules, 2014 with the
Central Government.

c) As represented to us by the Management, there are no whistle blower complaint received by the Company during the year.

xii. In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of clause 3 (xii)(a),3(xii)(b) and 3(xii)(c) of the Order
are not applicable to the Company.

xiii. In our opinion, all transactions with the related parties are in compliance with section 177 and 188 of Companies Act, 2013 and
the details have been disclosed in the Financial Statements as required by the applicable accounting standards.

xiv. (a) Based on information and explanations provided to us and our audit procedures, in our opinion, 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 issued till date for the period under audit.

xv. Based upon the audit procedures performed and the information and explanations given by the management, the company has not
entered into any non-cash transactions with directors or persons connected with him. Accordingly, the provisions of clause 3 (xv) of
the Order are not applicable to the Company and hence not commented upon.

xvi. According to information and explanation given to us, we are of the opinion that the Company is not required to be registered under
section 45-IA of Reserve Bank of India Act, 1934 and the company is not a Core Investment Company (CIC) as defined in the
regulation made by the Reserve bank of India, accordingly the provision of Clause (3xvi) of the order is not applicable.

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

xviii. There has been no resignation of the statutory auditors during the year. Accordingly, clause 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 Act pursuant to any project. Accordingly, clause 3(xx)(a) and (b) of the Order is not applicable.

For Chaturvedi Sohan & Co.

Chartered Accountants

FRN:118424W

Vivekanand Chaturvedi

Partner

M. No. 106403 Date: May 15, 2026

UDIN : 26106403TMQBNM9443 Place: Mumbai

"Annexure B"

"Annexure B" to the Independent Auditors Report on the
Standalone Financial Statements of Cupid Limited for the year
ended March 31, 2026

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

In conjunction with our audit of the standalone financial
statements of the Company as of and for the year ended March
31, 2026, we have audited the internal financial controls over
financial reporting of CUPID LIMITED, ("the Company") which is a
Company incorporated in India, as of that date.

Managements Responsibility for Internal Financial Controls

The Companys management is responsible for establishing and
maintaining internal financial controls based on "the internal
control overfinancial 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 Institute of Chartered
Accountants of India". 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 offraudsand errors, theaccuracyand completeness
of the accounting records, and the timely preparation of reliable
financial information, as required underthe Companies Act, 2013.

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 ICAI and deemed to be prescribed under section
143(10) of the Companies Act, 2013, 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 Institute
of Chartered Accountants of India. 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, 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 judgment, including the assessment of the risks of
material misstatement of the 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 system 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 financial
statements for external purposes in accordance with generally
accepted accounting principles. A companys internal financial
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 preparation of financial statements
in accordance with generally accepted accounting principles,
and that receipts and 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
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 compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, the Company has, in all 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, 2026, based on the internal 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 Institute of Chartered Accountants of India.

For Chaturvedi Sohan & co.

Chartered Accountants
FRN:118424W

Vivekanand Chaturvedi

Partner

M. No. 106403 Date: May 15, 2026

UDIN: 26106403TMQBNM9443 Place: Mumbai