Dachepalli Publishers Ltd Auditor Reports

To the Members of M/s. Dachepalli Publishers Limited
Report on the Audit of the Financial Statements
Opinion

We have audited the accompanying Financial Statements of M/s. Dachepalli Publishers
Limited ("the Company"), which comprise the Balance Sheet as at March 31, 2025, the
Statement of Profit and Loss (including Other Comprehensive Income), the Statement of
Changes in Equity and the Statement of Cash Flows for the year then ended, and Notes to
the Financial Statements, including a summary of significant accounting policies and other
explanatory information ("hereinafter referred to as "the Financial Statements").

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 ("the Act") in the manner so required and give a true and fair view in
conformity with the Indian Accounting Standards prescribed under section 133 of the Act
read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, ("Ind
AS") and other accounting principles generally accepted in India, of the state of affairs of
the Company as at March 31, 2025, its Profit, changes in equity and its cashflows for the
year on that date.

Basis for Opinion

We conducted our audit of the Financial Statements in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under
those SAs are further described in the Auditors Responsibilities for the Audit of the
Financial Statements section of our report. We are independent of the entity in accordance
with the Code of Ethics issued by 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 the Act and Rules made thereunder, and we have fulfilled
our other ethical responsibilities in accordance with the Code of Ethics. We believe that
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our

Information other than the Financial Statements and Auditors Report Thereon

The Companys management and Board of Directors are responsible for the preparation of
the other information. The other information comprises the information included in the
Annual Report but does not include the Financial Statements and our auditors report
thereon.

Our opinion on the Financial Statements does not cover the other information and we do
not express any form of assurance conclusion thereon.

opinion.

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 the course of
our audit or otherwise appears to be materially misstated.

If. based on the work we have performed, wc 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 Financial Statements

The Companys management and Board of Directors are 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, changes in equity and cash flows of the Company in
accordance with the accounting principles generally accepted in India, including the Ind
AS specified under section 133 of the Act. This responsibility also includes maintenance
of adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of the Company and for preventing and detecting frauds and
other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the Financial Statements that give a true and fair view and
are free from material misstatement, whether due to fraud or error.

In preparing the Financial Statements, management and Board of Directors are 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 Responsibility for the Audit of the 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:

• Identity 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 controls relevant to the audit in order to
design audit procedures that are appropriate in the circumstances. Under section
143(3)(i) of the Companies Act, 2013, 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 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 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
underlying transactions 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.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 ("the Order") issued by
the Central Government in terms section 143(11) of the Act, we give in "Annexurc -
A", a statement on the matters specified in paragraphs 3 and 4 of the Order, to the
extent applicable.

2. 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) ln 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 Statement of Changes in Equity and the Statement of Cash Flow dealt
with by this Report, are in agreement with the relevant 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 written representations received from the directors as on March 31,
2025 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". Our report expresses an unmodified opinion
on the adequacy and operating effectiveness of the Companys internal financial
controls over financial reporting.

g) With respect to the matter to he included in the Auditors Report under Section
197(16): The Provisions of Section 197 read with Schedule V to the Act are
applicable only to the public companies. Accordingly, the requirement under Section
197( 16) of the Act are not applicable to the Company.

h) With respect to the other matters to be included in 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 explanations given to
us:

i) The Company does not have any pending litigation 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) There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company.

iv)

(a) The Management has represented that, to the best of its knowledge and belief,
as disclosed in the note 30(vi) to 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
person(s) or entity(ies), 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 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,
as disclosed in the note 3()(vii) to the Financial Statements, no funds have been
received by the company from any person(s) or entity(ies), including foreign
entities ("Funding Parties"), with the understanding, whether recorded in
writing or otherwise, that the Company shall, whether 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 by or on behalf of the
Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or
the like on behalf of the Ultimate Beneficiaries; and

(c) 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 (iv) (a) and (iv) (b) contain any material
mis-statement.

v) The Company has not declared any dividend in previous financial year which has
been paid in current year. Further, no dividend has been declared in current year.
Accordingly, the provision of section 123 of the Act is not applicable to the
company.

vi) Based on our examination, which included test checks, the Company has used
accounting software for maintaining its books of account for the financial year ended
March 31,2025 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. Further, during the course of our audit we did not come across any instance
of the audit trail feature being tampered with.

Annexure-A to the Independent Auditors Report

The "Annexure-A" referred to in clause 1 of "Report on Other Legal and Regulatory
Requirements" Paragraph of the, Independent Auditors Report of even date to the
members of M/s. Dachepalli Publishers Limited on the Financial Statements for the year
ended March 31, 2025.

(i)

a)

A. The Company has maintained proper records showing full particulars, including
quantitative details and situation of Property, Plant and Equipment.

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

b) Property, plant and equipment have been physically verified during the period in
accordance with a regular programme of verification which, in our opinion,
provides for physical verification of all the property, plant and equipment at
reasonable intervals having regard to the size of the Company and nature of the its
assets. According to the information and explanation given to us, no material
discrepancies were noticed on such verification.

c) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, the title deeds of all the immovable
properties disclosed in the Standalone financial statements are held in the name of
the Company.

d) The Company has not revalued its property, plant and equipment or Intangible
assets or both during the period.

c) No proceedings have been initiated or are pending against the Company for holding
any benami property under the Bcnami Transactions (Prohibition) Act, 1988 (45 of
1988) and rules made thereunder.

(ii)

a) The Company does not hold any inventory during the year. Accordingly, the
provisions of clause 3(ii)(a) of the Order are not applicable to the Company.

b)The Company does not have any working capital limits from banks or financial
institutions and hence reporting under cause (ii)(b) of the Order is not applicable to
the Company.

(iii) 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 made investments
in, provided any guarantee or security or granted any loans or advances in the nature
of loans, secured or unsecured to companies, firms, limited liability partnerships or
other parties during the year. Accordingly, the provisions of clause (iii) of the Order
are not applicable to the Company.

(iv) In our opinion and according to the information and explanations given to us, the
Company has not given any loans or provided any guarantees or security to the parties
covered under Section 185 of the Act during the year. The provisions of Section 186
of the Act, except sub-section (1). are not applicable to the Company. The Company
has not made any investments, under the provisions of Section 186 (1) of the Act,
during the year.

(v) According to the information and explanations given to us, the Company has not
accepted any deposits from the public within the meaning of Sections 73 to 76 of the
Act and rules framed thereunder. Accordingly, the provisions of clause (v) of the
Order are not applicable to the Company.

(vi) In our opinion and according to information and explanation given to us, the
Company does not fall under threshold limits prescribed for maintenance of cost
records under Section 148(1) of the Act. Accordingly, the provisions of clause (vi) of
the Order are not applicable to the Company.

(vii) According to the information and explanations given to us and on the basis of our
examination of records of the Company,

a) The Company has been regular in depositing undisputed statutory dues including
Income Tax, Goods and Service Tax, Provident Fund, Employee State Insurance
and other material statutory dues applicable to it with the appropriate authorities.
There were no undisputed amounts payable in respect of aforesaid dues which were
in arrears as at March 31, 2025 for a period of more than six months from the date
they became payable.

b) According to the information and explanation given to us, there are no dues of
income tax and goods and service tax which have not been deposited with the
appropriate authorities 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, there were no transactions relating to
previously unrecorded income that were surrendered or disclosed as income during
the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

(ix)

a) In our opinion, the Company has not defaulted in repayment of loans and
borrowings or in the payment of interest thereon to any lender during the year.

b) The Company has not been declared willful defaulter by any bank or financial
institution or government or any government authority.

c) The proceeds received from term loan from financial institution during the year
have been utilized for the purpose it was obtained.

d) On an overall examination of financial statements and review of subsequent events
after the balance sheet date of the Company, no funds raised on short-term basis
have been used for long-term purposes by the Company.

e) 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 ventures.

0 The Company has not raised .any loans during the year on the pledge of securities
held in its subsidiaries andhence reporting on clause (ix)(f) of the Order is not
applicable.

x)

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

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 made any
preferential allotment or private placement of shares or fully or partly convertible
debentures during the year. Accordingly, clause (x)(b) of the Order is not
applicable.

(xi)

a) During the course of our examination of the books and records of the Company,
carried out in accordance with the generally accepted auditing practices in India,
and according to the information and explanations given to us. we have neither
come across any instance of material fraud by the Company or on the Company,
noticed or reported during the year, nor have we been informed of any such case by
the Management.

b) No report under sub-section (12) of section 143 of the Companies Act has been
filed in Form ADT-4 as prescribed under rule 13 of Companies (Audit and
Auditors) Rules, 2014 with the Central Government, during the year and up to the
date of this report. Accordingly, the reporting under clause (xi)(b) of the Order 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) According to the information and explanations given to us, the Company is not a
Nidhi Company. Accordingly, clause (xii) of the Order is not applicable.

(xiii) According to the information and explanations given to us and based on our
examination of the records of the Company, transactions with the related parties are in
compliance with section 188 of Act. Where applicable, the details of such related
party transactions have been disclosed in the Financial Statements as required by the
applicable accounting standards. Further section 177 of the Act is not applicable to the
Company and accordingly, to this extent, the provisions of clause 3(xiii) of the Order
are not applicable to the Company.

(xiv)

a) The Company has an internal audit system commensurate with the size and nature
of its business.

b) The internal audit reports of the Company issued till the date of the audit report, for
the period under audit have been considered by us.

(xv) In our opinion and according to the information and explanation given to us, the
Company has not entered into any non-cash transactions with its 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 under Section 45-IA of the Reserve
Bank of India Act, 1934.

b) On the basis of examination of records and according to the information and
explanation given to by the Company, the Company has not conducted any non-
banking financial or housing finance activities hence the reporting requirements
under Clause (xvi)(b) of the Order is not applicable.

c) In our opinion and according to the information and explanation given to us, the
Company is not a Core Investment Company (CIC) as defined in the regulations
made by the Reserve Bank of India. Accordingly, the reporting under Clause
(xvi)(c) of the Order is not applicable to the Company.

d) As represented by the management, the Group do not have any CIC. Accordingly,
the reporting under Clause (xvi)(d) of the Order is not applicable to the Company.

(xvii) The Company has not incurred any Cash loss 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,
clause (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 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 fall due.

(xx) According to the information and explanations given to us, the provisions of Section
135 of the Act in relation to Corporate Social Responsibility is not applicable to the
Company. Accordingly, reporting under clause (xx) of the Order is not applicable to
the Company.

(xxi) The reporting under clause (xxi) is not applicable in respect of audit of Financial
Statements of the Company. Accordingly, no comment has been included in respect of
said clause under this report.

Annexure-B to the Independent Auditors Report

The "Anncxurc-B" referred to in clause 2(f) of "Report on Other Legal and Regulatory
Requirements" Paragraph of the Independent Auditors Report of even date to the
members of M/s. Dachepalli Publishers Limited on the Financial Statements for the year
ended March 31, 2025.

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

t

We have audited the internal financial controls over financial reporting of M/s. Dachepalli
Publishers Limited, ("the Company") as at March 31, 2025 in conjunction with our audit
of the Financial Statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys management and the Board of directors are responsible for establishing
and maintaining internal financial controls 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 ("ICAI").
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") issued by ICAI and the Standards on Auditing prescribed under section
143(10) of the Act, to the extent applicable to an audit of Internal Financial Controls.
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:

(a) pertain to the maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the company;

(b) 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

(c) 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 arc 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.

KUMAR & GIRI

CHARTERED ACCOUNTANTS

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, 2025, 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 Kumar & Giri

Chartered Accounta

FRN: 001584$ A

(

J Bhadra Kumar

Partner

Membership number: 025480

 

Place:Ilyderabad

Date: 08-09-2025

UDIN : 25025480BMOOSI6047