Cybele Industries Ltd Auditor Reports

To the members of CYBELE INDUSTRIES LTD

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of Cybafe Industries Limnedf the Company ), which comprise the balance sheet as at March 2024 Ihe statement of profit and loss and the cash flow statement for the year then ended and e summary ol significant accounting policies and cl her explanatory mrormaiion

Managements Responsibility for the Standalone Financial Statements

The Company’s Board at Directors is responsible for the matters stated m Section 134(5) of the Companies Act 2013 Cine Act i wrth respect to the prep 31 at ion ot these standalone financial statements that give a true and fair view of the financial position financial performance and cash Hows of the Company in accordance with (he accounting principles generally accepted m India including the Accounting Standards specified under Section 133 of the Act, read;with Rule 7 of the Companies (Accounts) Rules, 2014 This responsibility also includes maintenance of adequate accounting records irs accordance with the provisions of the Act for safeguarding the assets of Ihe 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 rair view and are free from material misstatement, whether due to Fraud or error

Auditors Responsibility

Our responsibility IS to express an opinion on these standalone financial statements based on our audit

We have taken into account Ihe provisions of the Act. the accounting and auditing standards and matters which are required lo be included in the audit report under the provisions of the Aot and the Pules made thereunder.

We conducted our audtt in accordance with the Standards on Audrting specified under Section 143{ 10) of inc Ad Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether

the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence aboul The amounts and The disclosures in the financial statements The procedures selected depend on the auditors judgment including the assessment nt the risks of material misstatement of the financial statements, whether due to fraud or error In making those risk assessments the auditor considers internal financial control relevant to the Companys preparation of the financial statements that give a tiue and fan view m order to design audit procedures trial are appropriate in the circunislantes but not for The purpose ot expressing an opinion on whether the Company has in place an adequate Internal financial contiols system over financial reporting and the operating effectiveness of such controls An audu also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estrmates made by the Company s Directors as well as evalualmg the overall presentation or The financial statements.

We believe that the audit evidence we have obtained is surficienl and appropriate to provide a basis for our audit opinion on the standalone financial statements

Opinion

In our opinion and to the best of our information and according to Ihe explanations given to us the aforesaid standalone financial statements give the information required by the Act in the manner sc 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 31 March 2024 and Us Profit and its cash trews for the year ended on that date

Report on Other Legal and Regulatory Requirements

1 As required by the C ompa mes 1 Audito rs R e pn ri) Order 2015 (The Order " - issued by the Central Government of India in terms of sub-section [fit of section 143 of the Act, we give in the Annexure a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent applicable

2 As required by Section 143 13) of tha Act. we report that.

i3) We have sought and obtained all the information and explanations whlch to The best of our knowledge and belief were necessary for the purposes of our audrt.

fb) In our opinion proper books of account as required by law have been kopr by the Company sc far as it appears from our ex animation of those books

lc) The balance sheet, the statement of profit and loss and the cash flow statement deafl with by this Reporl are In agreement with the books of account:

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

(e) Qn tfc& b&$ij of the written -representations

received frDrnlhp directors as on 31 March 2024 taken on rscord by the Board of Directors none of the directors is disqualified as on 31 March 2024 from being appointed as a directoi m terms of Section 164 (2) Of the Act

(f) WIth tespectlothe adequacy of 1 hb internfll financial controls oyer financial reporting of the company the operating effectiveness o( such controls, refer to our separate Report m "AnnexUre li

(g) With respect the other matters to be Included in the Auditor s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules. 2014 m our opinion and to the best of our information and according to the explanations given to us.

i The company does not have pending litigations on its financial position In its financial statements

ti The company dm not have ary longterm contracts including derivative contracts lot which there were any material foreseeable losses and

in There are no amounts required to be transferred, to the investor Education and Protection Fund by the Company

	For Karpagam Knslm.in and .Nntarajrm Chattelc-J Accountants Fimi Rer) Md.001748S
Dii le. 2505,2024 Place.-Chennai	CA.S.Srikznth Runnel .Membership No.026508 Li DIN 240265 S88i(CPfiSAB&E

Annexure A U> the Independent Auditors¹ Report

The Annexure referred to in our Independent Auditors¹ Report to the members of the Company on the standalone financial statements for the year ended 31 March 2024, we report that¹,

T ej Tne company has maintained proper records showing full particulars, including quantitative details and situation of its fixed assets

bj As explained to us, fixed assets have been physically venfied by the management at reasonable intervals, no discrepancies were noticed on such verification

t) The Idle d&eds d immovable properties are held m the name of the company

d) The company has not revalued any of its asset

e) Mo proceedings have been initiated or ere pending against (he company for holding

any ben ami property under the Benami Transactions (Prohibition! Act. 1993 (45 of 19S6I and rules made thereunder.

2. a] As explained to us. inventories have been

physically verified during the year by the management at reasonable intervals No discrepancy was noticed on physical verification of stocks by the management as compared to book records b) The quarterly returns or statements filed by the company with such banks or financial institutions are reconciled with the books of account or the Company No discrepancies were noticed on such reconciliation

3. The company has not made investments in, provided any guarantee or secunty or granted any leans or advances in the nature of loans, secured or unsecured to companies, firms. Limned Liability Partnerships or any other parties during me year

4 Accordng to the information and explanations given to us and the records of the company examined by us. the company has complied with the provisions of section 185 and 185 of Act in respect of investments end guarantees in respect of transactions entered during the year

5 The company h.as not accepted any deposits from the public during the year and hence the directives issued by Ihe Reserve Bank of India and the provisions ot the Section 73 to 76 or any other relevant provisions of the Act and rules framed thereunder are not applicable

S We nave proadly reviewed the cost records maintained by the Company specffied by (he Central Government under sub Section (i> of Section 140 of the Companies Act. 2013 end am of the opinion that pnma facie the prescribed accounts and records have been made and mamlemed We have however not made a detailed examination of the cost records with a view to determine whether they are accurate or complete

7 a) As per the information ana explanations given to us end according t.o our examination of the records of the company the company has generally been regufgi in depositing undisputed statutory dues including Provident fund. Employees stale insurance income tax Safes tax Duty of excise Duty of customs Service Tax Value added tax. Goods and Services tax cess and other statutory dues, as applicable to the company to the appropriate authorities during the yea< and no disputed amounts m respect of materia I statutory dues we re in arrears as at 31 March ?024 for a period of mere than six months from the date they became payable.

b) According to the information and explanations given to us ana the records of the company examined by us. there were no dues of income tax sales tax service Tax. duty of customs, duty of excise and goods and services tex which have not been deposited on account of any dispute as at 31 March 2024

8 The company has no such income that wss previously unrecorded in books and now recorded

9. a) in our opinion and according to the information ant) explanations given by the management we are of lhe opinion that, the Company has not defaulted in repayment of duss to a financial institution, bank. Government or debenture holders as applicable to the company,

b} The company is not a declared willful defaulter by any bank or financial institution or other fender.

c) Term loans ware applied for the purpose for whfch the loans were obtained

d} Funds raised on short term basis have not been utilized for long term purposes

e) The company has nol taken any funds from any entity or person on account of or to meet The obligations of its subsidiaries, associates or joint ventures, tl The company has not raised loans during the year on the pledge of securities hefd in its subsidiaries joint ventures or associate companies

10. a] Based on our audit procedures and according to tna mtormation given by me management the company hes not raised any money byway of initial public offer or further public offer (Including debt instruments i or taken any term loan during the year

b) The company has not made any preferential allotment or prrvate placement of shares or convertible debentures i fully, partially or optionally convertible during the year

11 According to the information and explanations given to us. we report that no fraud by the company or any fraud on the Company by its officers or employees has been noticed or reported during the year

12. The Company Is not a Nldhi company Accordingly the reporting requirements under clause [XiiJ of paragraph 3 of the Order are not applicable

13 According to the information end explanations given to us and records of the company examined by us. all the transactions with related parties are in compliance With section 183 of Hia A?t whatever applicable S action 17 7 is not applicable to the company, and hence the relative reporting requirement under the Order is not commented upon

14 The company has no internal audit system commensurate with the size and nature of its business

15 The company has not entered into non-cash transactions with directors or persons corrnected with him

16 The company is not required to be registered under section 45-IA of the Reserve Sank ol Indie Act 1934.

17 The company has not incurred cash tosses rn the financial year and m The immediately preceding financial year

IB There- has been no instance of any resignation of the statutory auditors occurred during the yea¹

19 No material uncertainty exists as on the dale of the audit lepon that company is capable of meeting its liabilities exisfrng at the date of belance sheet as and when they fail due within e perrod of 1 year from the balance sheet date.

20 The company has no unspent amount for the financial year m compliance with sub-section (5j of section 135 of the sard Act

	For Karpagam Knshnan and Natarejan Charftiisd AasfttnlHiil? Firm Reg N&0174&
Date 29 052G24 Place Chennai	CA.S.Srikanth Partner Mi-mbiimlujj No.OldSflfl UOJN.J4O2GSSSBKCPWS3960

ANNEXURE8

Report on the Internal Financial Controls under clause (i] of Su bisection 3 of Seel Ion 143 of the Companies Ad, 2013 ( the Act”)

We have audited the internal financial controls over financial reporting of Cybele Industries Limited ;‘the Company) as of March 31, 2024 in con:unction wilh our audit of the standalone financial statements of ihe company for Ihe year ended on that date

Management’s Responsibility for Internal Financial controls

The companys management is responsible for establishing and maintaining infernal financial Controls based on the intern at central over financial repotting criteria established by the Company considering the essential components of Internal control slated rn the Guidance Note on Audit qf Internal fmancm controls over Financial Reporting issued by the Institute of Chartered Acoountants of India These responsibilities include the design imulDrnEniahon and maintenance of adequate internal financial car,1 rots thni were operating effectively far ensuring Ihe Orderly and efficient conduct of its business including adherence To companys policies, the safeguarding of its assets the prevention end detection of frauds, and errors the accuracy and completeness of the accounting records, and the timely preparation of reliahle financial information, as required under the companies Ad. 2013

Auditors Responsibility

Our responsibility is to express an opinion on Ihe companys internal financial controls over financial reporting based cm our audit. We conducted cur audit in accordance with the Guidance Note on Audit of Internal financial controls over Financial Reporting (the "Guidance Note! and Ihe Standards on Auditing issued by the Institute of Chartered Accountants ol India 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 eppiicabre Tu an audit Irite/nal financial controls and. both issued by Ihe inslilute of Chartered Accountants of India Those Standards and the Guidance Note required thal 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 it such controls operated effectively in all material respect

Our audit involves performing procedures to obtain audit evidence about the adequacy of the Internal financial conttols 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 Judgement, including the assessment of the risks of material misstatement of the finsnciat 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 Company s internal financial controls system over financial reporting

Meaning of Internal Financial ConirtjIs over Financial Reporting

? Companys internsl financial control over financial reporting is a process designed tc provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purpose in accordance with generally accepted accounting principles A Companys internal financial control over financial reporting includes those policies and procedures that f I pertain to the maintenance of records that, in reasonable detail, accurately and fairly reFlect the transactions and dispositions of the assets of the company {21 provrde reasonable assurance that transactions are recorded os necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and tnat receipts and expenditures of trie company are being made only m accordance With authorizations ol management and directors of the company, and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition use or disposition of the company s 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 coni rots 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 may become Inadequate because of changes in conditions or that Ihg 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 31,2024, based on the internal control over financial reporting criteria established by the company considering the essential components of internal control stated In Guidance hfoie on Audit of internal financial controls over Fihaflcral Reporting issued by the Ihstitule cf Chartered Accountants of India

Dale 29 0S.2O24	For Karpagam Kfishnan and Natarajan Cfianereit Accountant Firm fteg No.0Dl?4BS C AS. Stilts nth Parkier
Piara:Chfiftnai	Membership No.026SES
	UDlN.240:?5aBBKCPNS3?6?