Current Infraprojects Ltd Auditor Reports

SECTION VI - FINANCIAL STATEMENTS FINANCIAL STATEMENTS AS RESTATED

To,

The Board of Directors,

CURRENT INFRAPROJECTS LIMITED

(Erstwhile known as CURRENT INFRAPROJECTS PRIVATE LIMITED)

A-27, Basant Vihar, Vaishali Marg (West), Panchyawala,

Jaipur, Rajasthan, India, 302034

Dear Sir,

1. We have examined the attached Restated Consolidated and Standalone Financial Information of "CURRENT INFRAPROJECTS LIMITED" (Formerly known as Current Infraprojects Private Limited) (hereinafter referred to as "the Company" or "the Issuer") and its wholly owned Subsidiaries Current Infra Bolnada Solar Private Limited, Current Infra Ompura Solar Private Limited and Current Infra Talabera Solar Private Limited. (the Company and its subsidiaries together referred to as the "Group") comprising the Consolidated Restated Statement of Asset and Liabilities as at September 30, 2024 and the Standalone Restated Statement of Asset and Liabilities as at March 31, 2024, March 31, 2023 and March 31, 2022, the Consolidated Restated Statement of Profit & Loss and Consolidated Restated Statement of Cash Flow for the period ended on September 30, 2024, and the Standalone Restated Statement of Profit & Loss and the Standalone Restated Statement of Cash Flow for the years ended on March 31, 2024, March 31, 2023 and March 31, 2022 and the Consolidated Restated Statement of Cash Flow for the period ended on September 30, 2024, and the Standalone Restated Statement Cash Flow for the years ended on March 31, 2024, March 31, 2023 and March 31, 2022 the summary statement of significant accounting policies, and other explanatory information (collectively referred to as the ("Restated consolidated and standalone Financial Information"), annexed to this report and as approved by the Board of Directors of the Company at their meeting held on March 08^th, 2025 prepared by the Company for the purpose of inclusion in the Draft herring prospectus/Red Herring Prospectus/Prospectus ("DRHP/RHP/Prospectus") in connection with its proposed Initial Public Offer of equity shares in SME Platform ("IPO") of NSE Limited ("NSE") of the company.

These Restated Consolidated and Standalone Summary Statements have been prepared in terms of the requirements of:

a) Section 26 of Part I of Chapter III of the Companies Act, 2013 (the "Act"); read with companies (Prospectus and Allotment of Securities) Rules 2014;

b) The Securities and Exchange Board of India (Issue of Capital and Discloser Requirements) Regulations, 2018, as amended ("ICDR Regulations") and; related amendments / clarifications from time to time issued by the Securities and Exchange Board of India ("SEBI");

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

1.1. The Company does not have Subsidiaries as at March 31, 2024, March 31,2023 and March 31,2022 and is not required to prepare Consolidated Financial Statement as at March 31,2024, March 31, 2023 and March 31,2022.

2. The Companys Board of Directors is responsible for the preparation of the Restated Consolidated and Standalone Financial Statement for the purpose of inclusion in the DRHP/RHP/Draft Prospectus / Prospectus to be filed with the Securities and Exchange Board of India, SME platform of NSE Limited and Registrar of Companies, Jaipur, Rajasthan, where the equity shares of the Company are proposed to be listed and RHP/Prospectus to be file in connection with the proposed IPO. The Restated Consolidated and Standalone Financial Statement have been prepared by the management of the Company on the basis of preparation stated in Annexure 4 to the Restated Consolidated and Standalone Financial Statement.

3. The respective Board of Directors of the group are responsible for designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Consolidated and Standalone Financial Information. The Board of Directors are also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

4. We have examined such Restated Consolidated and Standalone Financial Information taking into consideration:

a) The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter, in connection with the proposed SME IPO of equity shares of the Current Infraprojects Limited;

b) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI;

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

d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the IPO.

5. These Restated Consolidated and Standalone Financial Statement have been compiled by the management from:

a) Audited consolidated financial statements of the Group as at and for the period ended

September 30, 2024 prepared in accordance with the Accounting Standards (referred to as "AS") as prescribed under Section 133 of the Act, as amended, and other accounting principles generally accepted in India, which have been approved in the meeting of the Board of Directors held on March 08^th, 2025.

b) Audited standalone financial statements of the company as at and for the years ended

March 31, 2024 and March 31, 2023 and March 31, 2022 prepared in accordance with the Accounting Standards (referred to as "AS") as prescribed under Section 133 of the Act, as amended, and other generally accepted accounting principles in India, which have been approved in the meeting of the Board of Directors held on August 01, 2024 and June 30 ,2023 and September 03, 2022 respectively.

c) We have Re-audited the Financial statements of the company in accordance with applicable standard as required under the SEBI ICDR regulations for the financial period/year ended on 31st March 2022, 31st March 2023, 31st March 2024, 30th September 2024, prepared in accordance with the Indian Accounting Standards (Indian GAAP) which have been approved by the Board of Directors.

6. We have audited the consolidated financial information of the group for the period ended September 30, 2024 prepared by the group in accordance with the AS for the limited purpose of complying with the requirement of getting its financial statements audited by an audit firm holding a valid peer review certificate issued by the "Peer Review Board" of the ICAI as required by ICDR Regulations in relation to proposed IPO.

7. For the purpose of our examination, we have relied on:

a) Auditors Report issued by us dated March 08^th, 2025, on the consolidated financial

statements of the Group as at and for the period ended on September 30, 2024.

b) Auditors Report issued by us on dated, August 01,2024, June 30, 2023, and September 03, 2022, on the standalone financial statements of the Company as at and for the years ended on March 31,2024, March 31, 2023, and March 31, 2022. The audits for the above financial years were conducted by us and accordingly reliance has been placed on the restated statement of assets and liabilities and the Restated Consolidated and Standalone statements of profit and loss, cash flow statements, the Summary Statement of Significant Accounting Policies, and other explanatory information. We also confirmed that Restated Consolidated and Standalone Financial Information:

i) have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the financial period/years ended on September 30, 2024, March 31,2024, March 31 2023 and March 31 2022 to reflect the same accounting treatment as per the accounting policies and grouping/classifications followed;

ii) have been prepared after incorporating proforma AS adjustments to the audited Indian GAAP financial statements of above-mentioned period/year as described in annexure no. 31 to the Restated Consolidated and Standalone Financial Information;

iii) have been made after giving effect to the matter(s) giving no modifications mentioned in paragraph [8] below; and

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

8. There were no qualifications in the Audit Reports issued by us for the period ended September 30, 2024, March 31, 2024, March 31, 2023 and March 31, 2022 however above financial statements were modified and require adjustments in this Restated Consolidated and Standalone Financial Information of the Company and giving rise to modifications on the financial statements as at and for the period/years ended on September 30, 2024, March 31,2024, March 31 2023 and March 31 2022 refer annexure no. 31.

9. Based on our examination and according to the information and explanations given to us, we report that the Restated Consolidated and Standalone Financial Information:

a) Have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the financial years ended March 31, 2024, March 31, 2023 and March 31, 2022 to reflect the same accounting treatment as per the accounting policies and grouping/classifications followed as at and for the period ended September 30, 2024.

b) have been prepared after incorporating adjustments to the audited Indian GAAP financial statements as at and for the year ended March 31, 2024, March 31, 2023 and March 31, 2022 as described in annexure no. 31 to the Restated Consolidated and Standalone Financial statements;

c) have been made after giving effect to the matter(s) giving rise to modifications mentioned in paragraph [8] above; and

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

e) Adequate disclosure has been made in the financial statements as required to be made by the issuer as per schedule III of the Companies Act, 2013.

f) The accounting standards prescribed under the Companies act, 2013 have been followed.

g) The financial statements present a true and fair view of the companys accounts.

10. In accordance with the requirements of Part I of Chapter III of the Act, ICDR Regulations,

Guidance Note and Engagement Letter, we report that:

a) The "Restated Consolidated Statement of Assets and Liabilities" of the Company as at September 30, 2024 and The "Restated Standalone Statement of Assets and Liabilities" of the Company as at March 31, 2024, March 31, 2023, and March 31,

2022, as set out in Annexure 1 are prepared by the Company and approved by the Board of Directors. These Statement of Assets and Liabilities, as restated have been arrived at after making such adjustments and regroupings to the financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to the Restated Consolidated and Standalone Financial Information as set out in Annexure 4 to this Report.

b) The "Restated Consolidated Statement of Profit and Loss", of the Company for the period ended September 30, 2024 and The "Restated Standalone Statement of Profit and Loss", of the Company for the years ended March 31, 2024, March 31, 2023, and March 31, 2022 as set out in Annexure 2 are prepared by the Company and approved by the Board of Directors. These Statement of Profit and Loss, as restated have been arrived at after making such adjustments and regroupings to the financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to the Restated Consolidated and Standalone Financial Information as set out in Annexure 4 to this Report.

c) The "Restated Consolidated Statement of Cash Flow", of the Company for the period ended September 30, 2024 and The "Restated Consolidated Statement of Cash Flow", of the Company for the years ended March 31, 2024, March 31, 2023, and March 31, 2022, as set out in Annexure 3 are prepared by the Company and approved by the Board of Directors. These Statement of Cash Flow, as restated have been arrived at after making such adjustments and regroupings to the financial statements of Sthe Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Restated Consolidated and Standalone Financial Information as set out in Annexure 4 to this Report.

d) We have also examined the following financial information ("Other Financial Information") proposed to be included in the offer document prepared by the management and approved by the board of directors of the company and annexed to this report:

11. The Restated Consolidated and Standalone Financial Information does not reflect the effects of events that occurred subsequent to the respective dates of the reports on the special purpose interim AS financial statements and audited financial statements mentioned above.

12. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by us, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

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

14. Our report is intended solely for use of the Board of Directors for inclusion in the DRHP/RHP/ Prospectus to be filed with Securities and Exchange Board of India, SME Platform of NSE Limited and Registrar of Companies, Jaipur, Rajasthan in connection with the proposed IPO. Our report should not be used, referred to or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior consent in writing.

For Rajvanshi & Associates

Chartered Accountants

Firm Regn. No.:005069C

Vikas Rajvanshi

Partner

Membership No.: 073670

Place: Jaipur

Date: 08.03.2025

UDIN: 25073670BMMLZD6996