To the Members of Deccan Cements Limited
Report on the Audit of the Standalone Financial Statements Opinion
We have audited the standalone financial statements of Deccan Cements Limited ("the Company"), which comprise the Balance Sheet as at 31st March 2025, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and notes to the standalone financial statements, including a summary of material accounting policies and other explanatory information. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Companies Act, 2013 ("Act") in the manner so required and give a true and fair view in conformity with 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 the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2025, and its profit (including other comprehensive income), changes in equity and its cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the 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 Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Act and the responsibilities in accordance with Rulesthereunder,andwehavefulfilled these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the standalone financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the standalone financial statements of the current period. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
| Sr. No. Key Audit Matter | Auditors Response |
| 1. Revenue Recognition - Price Discounts | Principal Audit Procedures |
| • Revenue is measured net of discounts earned by customers on the Companys sales. | • Assessed the appropriateness of the Companys accounting policy relating to price discounts by comparing with applicable Indian Accounting Standard. |
| • Due to the Companys presence across different marketing regions within the country and the competitive business environment, price discounts vary based on the customer and market it caters to and recognised based on sales made during the year. These discounts are calculated based on the market study reports which reports are collated periodically by the management and are prone to manual interventions. | • Assessed the design and tested the implementation and operating effectiveness of Companys internal controls over the approvals, calculation, accounting and issuance of credit notes. |
| • Therefore, there is a risk of revenue being misstated as a result of incorrect computation of price discounts. | • Obtained and inspected, on a sample basis, supporting documentation for price discounts recorded and credit notes issued during the year as well as credit notes issued after the year end date to determine whether these were recorded appropriately. |
| • Given the complexity involved in the assessment of price discounts and their periodic recognition against sales, the same is considered as key audit matter. | • Compared the historical trend of price discounts to sales made to determine the appropriateness of current years discount charge. |
| Refer Note - 2(iv) of Material Accounting Policies | |
| 2. The Company has material litigations which involve significant judgement to determine the possible outcome of these litigations. | Principal Audit Procedures |
| Refer Note 30 of the standalone financial statements. | • We understood from the management, assessed and tested the design and operating effectiveness of the Companys key controls surrounding assessment of litigations relating to the relevant laws and regulations. |
| • We have reviewed the legal and other professional expenses and enquired with the management for recent developments and the status of the material litigations which were reviewed. | |
| • Obtaining a litigation list and making inquiries, circulating and reviewing legal confirmations from external counsel. | |
| • We performed our assessment on a test basis on the underlying calculations supporting the contingent liabilities/ other significant litigations disclosed in the standalone financial statements. | |
| • Obtaining a litigation list and making inquiries, circulating and reviewing legal confirmations from external counsel. | |
| • Discussing the status of the cases with the legal team regarding the progress and probability assessment of the outcomes. | |
| • We used auditors experts/specialists to gain an understanding and to evaluate the disputed tax matters. | |
| • Evaluating the evidence supporting the judgement of the management about possible outcomes and the reasonableness of the estimates. | |
| • We evaluated managements assessments by understanding precedents set in similar cases and assessed the reliability of the managements past estimates/judgements. | |
| • Evaluating appropriateness of adequate disclosures in accordance with the applicable Indian accounting standards. | |
| 3. Inventories as disclosed in Note 6 to the standalone financial statements include: | Principal Audit Procedures |
| • Raw materials comprising iron-ore, gypsum, limestone, laterite and fly ash; | The Company performs annual inventory counts at the year end and issues prior notification of procedures to be performed for such inventory counts. Our audit procedures to assess the existence of such items of inventory included the following: |
| • Work-in-progress mainly comprising clinker | • Assessed the managements process of measurement of stockpiles and the determination of values using conversion of volumes and density to total weight and the related yield. |
| • Coal | • Obtained and reviewed the inventory count report of the managements team and assessed its accuracy on a sample basis. |
| The above items of inventory are stored in sheds, stockpiles and silos. As the weighing of these inventories is not practicable, management assesses the reasonableness of the quantities on hand by obtaining measurements of stockpiles and converting these measurements to unit of volumes by using angle of repose and bulk density. The Company involves its team in the inventory count process. Due to the significance of inventory balances and related estimations involved, this is considered as a key audit matter. |
Other Information
The Companys Board of Directors is responsible for the other information. The other information comprises the information included in the Companys annual report, but does not include the standalone financial statements and our auditors report thereon. The Companys annual report is expected to be made available to us after the date of this auditors report.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. When we read the Annual report if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with Governance.
Managements Responsibility for the Standalone Financial Statements
The Companys Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financialperformance, total comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including Indian Accounting Standards specifiedunder 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 internalfinancial effectivelyfor ensuring the accuracy controls,thatwereoperating 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 standalone financial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Board of Directors are also responsible for overseeing the Companys financial reporting process.
Auditors Responsibilities for the Audit of the Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the standalone 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 standalone 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 standalone 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 control 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 with reference to standalone financial
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 standalone financialstatements 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 standalone financial the disclosures, and whether the standalone 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 consider quantitative materiality and qualitative factors standalonefinancialstatementsmaybeinfluenced. 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 any significant deficiencies in internal control that we timingoftheauditandsignificant 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 statements of the current period and are therefore the most 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 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) 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 except for the matter stated in the paragraph 1(i) (vi) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014. (c) The Balance Sheet, the Statement of Profit and Loss (including Other Comprehensive Income),
Statement of Changes in Equity and the Statement of Cash Flows dealt with by this Report are in agreement with the books of account.
(d) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting
Standards prescribed under Section 133 of the Act.
(e) On the basis of the 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) The modification relating to the maintenance of accounts and other matters connected therewith are as stated in the paragraph 1(b) above and paragraph (i)(vi) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.
(g) With respect to the adequacy of the internal financial controls with reference to the standalone financial statements of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure A".
(h) With respect to the other matters to be included in the Auditors Report in accordance with the requirements of section 197(16) of the Act, as amended, in our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provision of section 197 of the Act.
(i) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us: i. The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements (Refer Note 30 of the standalone financial statements); ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses; iii. There has been no delay in transferring the amounts which were required to be transferred to the Investor Education and Protection Fund by the Company. iv. (a) The Management has represented (Refer Note 41 of the standalone financial statements) that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) 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 or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identifiedin any manner whatsoever by or on behalf of theCompany("UltimateBeneficiaries")or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; (b) The Management has represented (Refer Note 41 of the standalone financialstatements) that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the FundingParty("UltimateBeneficiaries")or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; (c) Based on the audit procedures that have been 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 11(e), as provided under (a) and (b) above, contain any material misstatement. v. As stated in Note 35(B) to the standalone financial (a) the final dividend paid by the Company during the year declared for the previous year is in accordance with Section 123 of the Act to the extent it applies to payment of dividend.
(b) The Board of Directors of the Company have proposed final dividend for the year which is subject to the approval of the members of the Company at the ensuing Annual General Meeting. The dividend declared is in accordance with Section 123 of the Act to the extent it applies to declaration of dividend. vi. Based on our examination which included test checks, the Company has used an accounting software for maintaining its books of account, which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software impacting books of account at application level.
The database of the accounting software is operated by third party service provider and based on the information and explanations given to us the feature of recording audit trail (edit log) facility was not enabled at the database level. (Refer Note 42 to the standalone financial statements).
Further, during the course of our audit, we did not come across any instance of audit trail feature being tampered with. Further, the audit trail in respect of the previous year has been preserved by the Company as per the statutory requirements for record retention.
2. As required by the Companies (Auditors Report) Order, 2020, (‘the Order) issued by the Central Government of India in terms of Section 143 (11) of the Act, we give in "Annexure B" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
Annexure "A" to the Independent Auditors Report
(Referred to in paragraph 1(g) under ‘Report on Other Legal Regulatory Requirements section of our report to the Members of the Company of even date)
Report on the Internal Financial Controls with reference to Standalone Financial Statements under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")
Opinion
We have audited the internal financial controls with reference to standalone financial statements ofDeccan Cements Limited ("the Company") as of March 31, 2025 in conjunction with our audit of the financial statements of the Company for the year ended on that date.
In our opinion, the Company has, in all material respects, adequate internal financial to the standalone financial statements and such internal financial controls with reference to the standalone March 2025, based on the internal control over financial financialstatementswereoperatingeffectively 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.
Managements Responsibility for Internal Financial Controls
The Companys management is 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
Companies Act, 2013.
Inherent Limitations of Internal Financial Controls with reference to the Standalone financial statements
Because of the inherent limitations of internal financial controls with reference to the standalone financial statements, 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 with reference to the standalone financial statements to future periods are subject to the risk that the internal financial control with reference to the standalone financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Auditors Responsibility
Our responsibility is to express an opinion on the Companys internal financial controls with reference to the standalone financial statements 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 with reference to the standalone financial statements 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 with reference to the standalone financial statements and their operating effectiveness. Our audit of internal financial controls with reference to the standalone financial statements included obtaining an understanding of internal financial controls with reference to the standalone financial statements, 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 standalone financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls with reference to the standalone financial statements.
Meaning of Internal Financial Controls with reference to the Standalone financial statements
A companys internal financial control with reference to the standalone financial statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of standalone statements for external purposes in accordance with generally accepted accounting principles. A financial reference to the companysinternalfinancial standalone financial statements 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 standalone financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys assets that could have a material effect on the standalone financial statements.
Annexure "B" to the Independent Auditors Report
With reference to Paragraph 2 under ‘Report on Other Legal Regulatory Requirements section of our report to the Members of the Company, we report that: i. In respect of the Companys Property, Plant and Equipment and Intangible Assets: (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) According to the information and explanations given to us and the records of the company examined by us, the property, plant and equipment have been physically verified by the management in a periodical manner, which in our opinion is reasonable, having regard to the size of the Company and the nature of its business. No material discrepancies were noticed on such physical verification. (c) Based on our examination of registered sale deeds and other documents, the title deeds of all the immovable properties disclosed in the standalone financial statements are held
Company.
(d) The Company has not revalued any of its Property, Plant and Equipment (including right-of-use assets) and intangible assets during the year. (e) No proceedings have been initiated during the year or are pending against the Company as at March
31, 2025 for holding any benami property under the Prohibition of Benami Property Transactions Act,
1988 (as amended in 2016) and rules made thereunder. ii. (a) The inventory has been physically verified by the management during the year. In our opinion, the coverage, frequency and procedure of such verification is reasonable and adequate in relation to the size of the Company and the nature of its business. The discrepancies noticed on verification between the physical stocks and the book records were not exceeding 10% in the aggregate for each class of inventory and have been properly dealt with in the books of accounts.
(b) The Company is sanctioned working capital limits in excess of Rs.5 Crore from banks on the basis of security of current assets. Further, the quarterly statements/revised statements filed by the Company with such banks are in agreement with the books of account of the Company. iii. (a) During the year, the Company has granted unsecured loan to the wholly owned subsidiary. The Company has not made investments, has not provided any guarantee or security. The details of the loan given are as follows:
| Particulars | Amount in lakhs |
| Aggregate amount granted during the year to | |
| - Subsidiaries | 1.00 |
| - Others | - |
| Balance outstanding as at balance sheet date in respect of above cases to | |
| - Subsidiaries | 1.00 |
| - Others | - |
The Company does not have any joint ventures or associates.
b) In respect of the aforesaid loan, the terms and conditions under which such loans were granted are not prejudicial to the Companys interest. The Company has not made any investments or provided any guarantee or security. c) In respect of loan granted by the Company, the schedule of repayment of principal has been stipulated and the repayments of principal amounts have generally been regular as per stipulation. d) In respect of loan granted by the Company, there is no overdue principal amount remaining outstanding as at the balance sheet date. e) The loan granted during the year has not fallen due nor has it been renewed or extended or settled by granting fresh loan. Hence, reporting under clause 3(iii)(e) is not applicable. f) The Company has not granted any loans or advances in the nature of loans either repayable on demand or without specifying any terms or period of repayment during the year. Hence, reporting under clause 3(iii)(f) is not applicable iv. In our opinion, the Company has complied with the provisions of Sections 185 and 186 of the Companies Act, 2013 in respect of the loans and investments made. The Company has not provided any guarantees and security to the parties covered under Section 185 and 186 of the Companies Act, 2013. v. The Company has not accepted any deposits or amounts which are deemed to be deposits. Hence, reporting under clause 3(v) of the Order is not applicable. vi. We have broadly reviewed the cost records maintained by the Company as prescribed under subsection
(1) of section 148 of the Act, and are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. We have, however, not made a detailed examination of the cost records with a view to determine whether they are accurate or complete. vii. In respect of statutory dues: a) In our opinion, the Company is regular in depositing undisputed statutory dues in respect of Provident
Fund, Goods and Services tax, Employees State Insurance, Income Tax, and other statutory dues applicable to it with the appropriate authorities and there were no arrears of undisputed outstanding statutory dues as at the last day of the financial year concerned for a period of more than six months from the date they became payable. Sales Tax, Value Added Tax, Service Tax, Duty of Excise and Customs duty are not applicable to the Company b) Details of statutory dues referred to in sub-clause (a) above which have not been deposited as on
March 31, 2025 on account of disputes are given below:
viii. There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961). xi. a) According to the information and explanations given to us and records of the Company examined by us, the Company has not defaulted in repayment of loans or borrowings or in the payment of interest thereon to any lender. b) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority. c) According to the information and explanations given to us and records of the Company examined by us, we report that the Company has applied the term loans for the purpose for which the loans were obtained. d) According to the information and explanations given to us and records of the Company examined by us and on an overall examination of the standalone financial statements of the Company, we report that no funds raised on short-term basis have been utilised for long term purposes by the Company. e) On an overall examination of the standalone financial statements, the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiary. The Company does not have associates or joint ventures.
f) According to the information and explanations given to us and records of the Company examined by us, we report that the Company has not raised loans during the year on the pledge of securities held in its subsidiary. The Company does not have associates or joint ventures.e) x. a) The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) during the year and hence reporting under clause 3(x)(a) of the Order is not applicable. b) During the year, the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence reporting under clause 3(x) (b) of the Order is not applicable. xi. a) No fraud by the Company and no material fraud on the Company has been noticed or reported during the year. 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 upto the date of this report. c) As represented to us by the management, there are no whistle blower complaints received by the company during the year. xii. The Company is not a Nidhi Company and hence reporting under clause 3(xii) of the Order is not applicable. xiii. In our opinion, the Company is in compliance with Section 177 and 188 of the Companies Act, 2013 with respect to applicable transactions with the related parties and the details of related party transactions have been disclosed in the standalone financial xiv. a) In our opinion the Company has an adequate internal audit system commensurate with the size and the nature of its business. b) We have considered, the internal audit reports of the company issued till date, for the year under audit. xv. In our opinion during the year 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 Companies Act, 2013 are not applicable to the Company. xvi. a) According to the information and explanations given to us and records of the Company examined by us, the Company is not required to be registered under section 45-IA of the Reserve Bank of India
Act, 1934. Hence, reporting under clause 3(xvi)(a) of the Order is not applicable. in the Regulations made by the Reserve b) TheCompanyisnotacoreinvestment company as defined Bank of India. Accordingly, reporting under clause 3(xvi)(c) of the Order is not applicable. c) The Company is not a core investment company as defined in the Regulations made by the Reserve Bank of India. Accordingly, reporting under clause 3(xvi)(c) of the Order is not applicable. d) According to the information and explanations given to us and records of the Company examined by us, there is no core investment company within the Group (as defined in the Core Investment Companies (Reserve Bank) Directions, 2016) and accordingly reporting under clause 3(xvi)(d) of the
Order is not applicable. xvii. The Company has not incurred cash losses during the financial year covered by our audit and in the immediately preceding financial year. xviii. There has been no resignation of the statutory auditors of the Company during the year.
xix. 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 standalone financial statements and 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 indicating 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. a) There is no unspent amount in respect of other than ongoing projects towards Corporate Social
Responsibility (CSR). Hence, reporting under clause 3(xx)(a) of the Order is not applicable. b) The Company does not have ongoing projects relating to CSR. Hence reporting under clause 3(xx)(b) of the Order is not applicable.
| For M. Anandam & Co., | |
| Chartered Accountants | |
| (Firms Registration No. 000125S) | |
| Sd/- | |
| B.V.Suresh Kumar | |
| Partner | |
| Place: Hyderabad | Membership No. 212187 |
| Date: 27th May, 2025 | UDIN: 25212187BMKXYQ6715 |
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