Deepak Chemtex Ltd Auditor Reports

FY 2025-26

INDEPENDENT AUDITORS REPORT

To The Members of DEEPAK CHEMTEX LIMITED

Report on the Audit of the Financial Statements:

Opinion

We have audited the accompanying financial statements of DEEPAK CHEMTEX LIMITED (the Company), which comprise the Balance Sheet as at March 31, 2026, the Statement of Pro t and Loss and the Statement of Cash Flows for the year ended on that date, and a summary of the significant accoun ng policies and other explanatory informa on (hereina er referred to as the financial statements). In our opinion and to the best of our informa on and according to the explana ons given to us, the aforesaid financial statements give the informa on required by the Companies Act, 2013 (the Act) in the manner so required and give a true and fair view in conformity with the Accoun ng Standards prescribed under sec on 133 of the Act read with the Companies (Accoun ng Standards) Rules, 2015, as amended, (AS) and other accoun ng principles generally accepted in India, of the state of a airs of the Company as at March 31, 2026, the profit and its cash flows for the year ended on that date.

Basis for opinion

We conducted our audit of the Financial Statements in accordance with the Standards on Audi ng specified under sec on 143(10) of the Act (SAs). Our responsibili es under those Standards are further described in the Auditors Responsibili es for the Audit of the Financial Statements sec on of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Ins tute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the Financial Statements under the provisions of the Act and the Rules made there under, and we have fulfilled our other ethical responsibili es in accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained are sufficient and appropriate to provide a basis for our audit opinion on the Financial Statements.

Informa on Other than the Financial Statements and Auditors Report Thereon

The Companys Board of Directors is responsible for the prepara on of the other informa on. The other informa on comprises the informa on included in the Management Discussion and Analysis, Boards Report including Annexure to Boards Report, Business Responsibility Report, Corporate Governance and Shareholders Informa on, but does not include the Financial Statements and our auditors report thereon. Our opinion on the Financial Statements does not cover the other informa on and we do not express any form of assurance conclusion thereon.

In connec on with our audit of the Financial Statements, our responsibility is to read the other informa on and, in doing so, consider whether the other informa on are 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, we conclude that there is a material misstatement of this other informa on; we are required to report that fact. We have nothing to report in this regard.

Managements Responsibility for the Financial Statements

The Companys Board of Directors is responsible for the ma ers stated in sec on 134(5) of the Act with respect to the prepara on of these Financial Statements that give a true and fair view of the financial posi on, financial performance and cash flows of the Company in accordance with the Accoun ng Standards and other accoun ng principles generally accepted in India. This responsibility also includes maintenance of adequate accoun ng records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preven ng and detec ng frauds and other irregulari es; selec on and applica on of appropriate accoun ng policies; making judgments and es mates that are reasonable and prudent; and design, implementa on and maintenance of adequate internal financial controls, that were opera ng e ec vely for ensuring the accuracy and completeness of the accoun ng records, relevant to the prepara on and presenta on 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 is responsible for assessing the Companys ability to con nue as a going concern, disclosing, as applicable, ma ers related to going concern and using the going concern basis of accoun ng unless management either intends to liquidate the Company or to cease opera ons or has no realis c alterna ve but to do so.

The Board of Directors are responsible for overseeing the Companys financial repor ng process.

Auditors Responsibili es for the Audit of the Financial Statements

Our objec ves 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 skep cism throughout the audit. We also:

1. Iden fy 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 detec ng a material misstatement resul ng from fraud is higher than for one resul ng from error, as fraud may involve collusion, forgery, inten onal omissions, misrepresenta ons, or the override of internal control.

2. Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under sec on 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the opera ng e ec veness of such controls.

3. Evaluate the appropriateness of accoun ng policies used and the reasonableness of accoun ng es mates and related disclosures made by management.

4. Conclude on the appropriateness of managements use of the going concern basis of accoun ng and, based on the audit evidence obtained, whether a material uncertainty exists related to events or condi ons that may cast significant doubt on the Companys ability to con nue as a going concern. If we conclude that a material uncertainty exists, we are required to draw a en on 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 condi ons may cause the Company to cease to con nue as a going concern.

5. Evaluate the overall presenta on, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transac ons and events in a manner that achieves fair presenta on. Materiality is the magnitude of misstatements in the Financial Statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Financial Statements may be in uenced. We consider quan ta ve materiality and qualita ve factors in (i) planning the scope of our audit work and in evalua ng the results of our work; and (ii) to evaluate the effect of any iden ed misstatements in the Financial Statements. We communicate with those charged with governance regarding, among other ma ers, the planned scope and ming of the audit and significant audit ndings, including any significant deficiencies in internal control that we iden fy 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 rela onships and other ma ers that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the ma ers communicated with those charged with governance, we determine those ma ers that were of most significance in the audit of the Financial Statements of the current period and are therefore the key audit ma ers. We describe these ma ers in our auditors report unless law or regula on precludes public disclosure about the ma er or when, in extremely rare circumstances, we determine that a ma er 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 communica on.

Report on Other Legal and Regulatory Requirements

1.As required by Sec on 143(3) of the Act for the purposes of our audit.

a) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examina on of those books.

b) The Balance Sheet, the Statement of Pro t and Loss, The Statement of Cash Flows dealt with by this Report are in agreement with the relevant books of account.

c) In our opinion, the aforesaid financial statements comply with the Accoun ng Standards specified under Sec on 133 of the Act, read with Companies (Accoun ng Standards) Rules, 2015, as amended.

d) On the basis of the wri en representa ons received from the directors as on 31st march, 2026 taken on record by the Board of Directors, none of the directors is disqualified as on 31st march, 2026 from being appointed as a director in terms of Sec on 164 (2) of the Act.

e) With respect to the adequacy of the internal financial controls over financial repor ng of the Company with reference to these financial statements and the opera ng e ec veness of such controls, refer to our separate Report in Annexure A. Our report expresses an unmodi ed opinion on the adequacy and opera ng e ec veness of the Companys internal financial controls over financial repor ng.

f) With respect to the other ma ers to be included in the Auditors Report in accordance with the requirements of Sec on 197(16) of the Act, as amended, in our opinion and according to the informa on and explana ons given to us, the remunera on paid by the Company to its directors during the year is in accordance with the provisions of Sec on 197 of the Companies Act, 2013.

g) With respect to the other ma ers to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended in our opinion and to the best of our informa on and according to the explana ons given to us:

i. According to the informa on and explana ons given to us, the company has no pending li ga ons impac ng its financial posi on.

ii. The Company did not have any long-term contracts including deriva ve contracts; as such the ques on of commen ng on any material foreseeable losses thereon does not arise. iii. There was no amount which was required to be transferred to the Investor Educa on and Protec on Fund by the company.

iv. (a) The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, 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 or en ty, including foreign en es (Intermediaries), with the understanding, whether recorded in wri ng or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or en es iden ed in any manner whatsoever by or on behalf of the company (Ul mate Bene ciaries) or provide any guarantee, security or the like on behalf of the Ul mate Bene ciaries;

(b)The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any person or en ty, including foreign en es (Funding Par es), with the understanding, whether recorded in wri ng or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or en es iden ed in any manner whatsoever by or on behalf of the Funding Party (Ul mate Bene ciaries) or provide any guarantee, security or the like on behalf of the Ul mate Bene ciaries; and

(c) Based on audit procedures which we considered reasonable and appropriate in the circumstances, nothing has come to their no ce that has caused them to believe that the representa ons under sub-clause (a) and (b) contain any material mis-statement.

v. The company has not declared and paid any dividend during the year.

vi. Based on our examina on, which included test checks, the Company has used accoun ng so ware systems for maintaining its books of account for the financial year ended March 31, 2026 which have the feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transac ons recorded in the so ware systems. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with and the audit trail has been preserved by the Company as per the statutory requirements for record reten on.

2. As required by the Companies (Auditors Report) Order, 2020 (the Order) issued by the Central Government in terms of Sec on 143(11) of the Act, we give in Annexure B a statement on the ma ers specified in paragraphs 3 and 4 of the Order.

	CA Sourabh Bagaria
For Mi al & Associates	Partner
Chartered Accountants	M.No.: 183850
Firm Reg No: 128045W	UDIN: 26183850RVVXUN6670
	Date: 29th May 2026
	Place: Mumbai

Annexure A to the Independent Auditors Report

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Sub-sec on 3 of Sec on 143 of the Companies Act, 2013 (the Act) We have audited the internal financial controls over financial repor ng of DEEPAK CHEMTEX LIMITED (the Company) as of March 31, 2026 in conjunc on with our audit of the financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishing and maintaining internal financial controls based on the internal control over financial repor ng criteria established by the Company considering the essen al components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Ins tute of Chartered Accountants of India. These responsibili es include the design, implementa on and maintenance of adequate internal financial controls that were opera ng e ec vely for ensuring the orderly and efficient conduct of its business, including adherence to respec ve companys policies, the safeguarding of its assets, the preven on and detec on of frauds and errors, the accuracy and completeness of the accoun ng records, and the mely prepara on of reliable financial informa on, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the internal financial controls over financial repor ng of the Company 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 the Ins tute of Chartered Accountants of India and the Standards on Audi ng prescribed under Sec on 143(10) of the Companies Act, 2013, 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 repor ng was established and maintained and if such controls operated e ec vely in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial repor ng and their opera ng e ec veness. Our audit of internal financial controls over financial repor ng included obtaining an understanding of internal financial controls over financial repor ng, assessing the risk that a material weakness exists, and tes ng and evalua ng the design and opera ng e ec veness 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 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 internal financial controls system over financial repor ng of the Company.

Meaning of Internal Financial Controls Over Financial Reporting

A companys internal financial control over financial repor ng is a process designed to provide reasonable assurance regarding the reliability of financial repor ng and the prepara on of financial statements for external purposes in accordance with generally accepted accoun ng principles. A companys internal financial control over financial repor ng includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transac ons and disposi ons of the assets of the company; (2) provide reasonable assurance that transac ons are recorded as necessary to permit prepara on of financial statements in accordance with generally accepted accoun ng principles, and that receipts and expenditures of the company are being made only in accordance with authoriza ons of management and directors of the company; and (3) provide reasonable assurance regarding preven on or mely detec on of unauthorized acquisi on, use, or disposi on of the companys assets that could have a material effect on the financial statements.

Limita ons of Internal Financial Controls Over Financial Reporting

Because of the inherent limita ons of internal financial controls over financial repor ng, 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, projec ons of any evalua on of the internal financial controls over financial repor ng to future periods are subject to the risk that the internal financial control over financial repor ng may become inadequate because of changes in condi ons, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, to the best of our informa on and according to the explana ons given to us, the Company has, in all material respects, an adequate internal financial controls system over financial repor ng and such internal financial controls over financial repor ng were opera ng e ec vely as at March 31, 2026, b0ased on the internal control over financial repor ng criteria established by the Company considering the essen al components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Ins tute of Chartered Accountants of India.

For Mi al & Associates	CA Sourabh Bagaria
Chartered Accountants	Partner
Firm Reg No: 128045W	M.No.: 183850
	UDIN: 26183850RVVXUN6670
	Date: 29th May 2026
	Place: Mumbai

Annexure B to the Independent Auditors Report

(Referred to in paragraph 2 under Report on Other Legal and Regulatory Requirements sec on of our report to the Members of DEEPAK CHEMTEX LIMITED of even date)

1) In respect of the Companys Property, Plant and Equipments:

(a) i) According to the informa on and explana ons given to us, the Company has maintained proper records Showing full Particular, including quan ta ve details and situa on of Fixed assets. ii) According to the informa on and explana ons given to us, the Company has maintained proper records Showing full Particular, including quan ta ve details and situa on of Intangibles assets

(b)The Fixed Assets have been physically veri ed by the management in a phased manner which, in our opinion, is reasonable having regard to the size of the company and nature of its assets. Pursuant to the program, a por on of the xed asset has been physically veri ed by the management during the year and no material discrepancies between the books records and the physical xed assets have been no ce.

(c) According to the informa on and explana ons given to us and the records examined by us and based on the examina on of the registered sale deed provided to us, we report that, the tle deeds, comprising all the immovable proper es of land and buildings which are freehold, are held in the name of the Company as at the balance sheet date.

(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 ini ated during the year or are pending against the Company as at March 31, 2026 for holding any benami property under the Benami Transac ons (Prohibi on) Act, 1988 (as amended in 2016) and rules made thereunder.

2) In Respect of Inventories:

(a) The management has conducted physical veri ca on of inventory at reasonable intervals during the year, in our opinion, the coverage and procedure of such veri ca on by the management is appropriate. As informed to us, any discrepancies of 10% or more in the aggregate for each class of inventory were not no ced on such veri ca on.

(b) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, the Company has not been sanc oned working capital limits in excess of 5 crore, in aggregate, from banks or financial ins tu ons on the basis of security of current assets at any point of me during the year. Accordingly, the repor ng requirements under Clause 3(ii)(b) of the Order are not applicable to the Company.

3) During the year the company has made investment in, provided any guarantee or security or granted loans or advances in the nature of loans, secured or unsecured, to companies, rms, Limited Liability Partnerships or any other parties:

(a) During the year the company has provided loans or provided advances in the nature of loans, or stood guarantee, or provided security to any other en ty:

A) The aggregate amount during the year, and balance outstanding at the balance sheet date with respect to such loans or advances and guarantees or security to subsidiaries, joint ventures and associates

B) The aggregate amount during the year, and balance outstanding at the balance sheet date with respect to such loans or advances and guarantees or security to parties other than subsidiaries, joint

	Investment	Security	Loans	Advance in Nature of Loans
Aggregate amount granted/provided during the year
- Subsidiaries	-	-	433.33 Lakhs	-
- Joint Ventures	-	-	-	-
- Associates	-	-	-	-
- Others	-	-	-	-
Balance outstanding as at balance sheet date in respect of above cases
- Subsidiaries	9.82 Lakhs	-	2,250.27 Lakhs	-
- Joint Ventures	-	-	-	-
- Associates	-	-	-	-
- Others	-	-	-	-

(b) According to the informa on and explana on given to us, the terms and condi ons of the grant of loans and advances in the nature of loans and guarantees provided are not prejudicial to the companys interest;

(c) Schedule of repayment of the principal amount and the payment of the interest have not been s pulated and hence we are unable to comment as to whether receipt of the principal amount and the interest is regular;

(d) According to the informa on and explana on given to us, no amount is overdue in this respect;

(e) According to the informa on and explana on given to us, in respect of any loan or advance in the nature of loan granted which has fallen due during the year, none has been renewed or extended or fresh loans granted to se le the over dues of exis ng loans given to the same parties;

(f) The company has granted loans or advances in the nature of loans either repayable on demand or without specifying any terms or period of repayment, required details in respect thereof are as below:

	All Par es	Promoters	Related Par es
Aggregate number of loans/advances in nature of loans
- Repayable on demand (A)	-	-	-
- Agreement does not specify any terms or period of repayment (B)	433.33 Lakhs	-	433.33 Lakhs
Total (A+B)	433.33 Lakhs		433.33 Lakhs
Percentage of loans/advances in nature of loans to the total loans	100%	-	100%

4) In our opinion and according to the informa on and explana ons given to us, the company has complied with the provisions of Sec on 185 and 186 of the Companies Act, 2013 In respect of loans, investments, guarantees, and security.

5) The Company has not accepted deposits during the year and does not have any unclaimed deposits as at 31st March, 2026 and therefore, the provisions of the clause 3 (v) of the Order are not applicable to the Company.

6) To the best knowledge and according to the informa on and explana on given to us, the Central Government has not prescribed the maintenance of cost records under sec on 148(1) of the act for any of the services rendered by the company and therefore, the provisions of the clause 3 (vi) of the Order are not applicable to the Company

7) a) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, there were no undisputed statutory dues outstanding as at the balance sheet date for a period of more than six months from the date they became payable. Accordingly, repor ng under Clause 3(vii)(a) of the Order is not applicable.

b) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, there are no dues in respect of Goods and Services Tax, Provident Fund, Employees State Insurance, Income Tax, Customs Duty, Cess or any other statutory dues which have not been deposited on account of any dispute. Accordingly, repor ng under Clause 3(vii)(b) of the Companies (Auditors Report) Order, 2020 is not applicable.

8) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, no transac ons not recorded in the books of account have been surrendered or disclosed as income during the year in the tax assessments under the Income-tax Act, 1961. Accordingly, repor ng under Clause 3(viii) of the Companies (Auditors Report) Order, 2020 is not applicable.

9) (a) According to the informa on and explana on given to us, the company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to any lender during the year.

(b) Company is not declared willful defaulter by any bank or financial ins tu on or other lender,

(c) According to the informa on and explana on given to us, the company has not taken any term loans during the year. Accordingly, Clause 3(ix) (c) of the order is not applicable.

(d) According to the informa on and explana on given to us, the company has not raised any funds on short-term basis during the year. Accordingly, Clause 3(ix) (d) of the order is not applicable.

(e) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, the Company has not raised any funds from any en ty or person for the purpose of meeting the obliga ons of its subsidiaries, associates or joint ventures. Accordingly, the repor ng requirements under Clause 3(ix)(e) of the Order are not applicable to the Company.

(f) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, the Company has not raised any loans during the year on the pledge of securi es held in its subsidiaries, joint ventures or associate companies. Accordingly, the repor ng requirements under Clause 3(ix)(f) of the Order are not applicable to the Company.

10) (a) According to the informa on and explana ons given to us, the company has not raised money by way of ini al public offer or further public offer (including debt instruments) during the year. Accordingly, the provisions of Clause 3(x)(a) & (b) of the CARO 2020 are not applicable to the company

11) (a) Based upon the audit procedures performed and the informa on and explana ons given by the management, we report that no fraud by the Company or on the Company by its o cers or employees has been no ced or reported during the year.

(b) No report under sub-sec on (12) of sec on 143 of the Companies Act has been led 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) According to the informa on and explana on given to us, no whistle-blower complaints, received during the year by the company;

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

13) In our opinion, all transac ons with the related parties are in compliance with sec on 177 and 188 of Companies Act, 2013 and the details have been disclosed in the Financial Statements as required by the applicable accoun ng standards.

14) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, the Company has an internal audit system commensurate with the size and nature of its business. We have considered the reports issued by the Internal Auditors during the year for the period under audit in determining the nature, ming and extent of our audit procedures.

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

16) (a) In our opinion, the company is not registered as a Non-Banking Financial Company under Sec on 45-IA of the Reserve Bank of India Act, 1934 and is in compliance with the applicable RBI regula on.

(b) The Company has not conducted non-banking financial / housing nance activities during the year. Accordingly, the repor ng under Clause 3(xvi)(b) of the Order is not applicable to the Company.

(c) The Company is not a Core Investment Company (CIC) as defined in the regula ons made by the Reserve Bank of India. Accordingly, the repor ng under Clause 3(xvi)(c) of the Order is not applicable to the Company.

(d) In our opinion, there is no core investment company within the Group (as defined in the Core Investment Companies (Reserve Bank) Direc ons, 2016) and accordingly repor ng under clause 3(xvi)(d) of the Order is not applicable.

17) The Company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

18) There has been no resigna on of the statutory auditors during the year. Accordingly, the provisions of Clause 3(xviii) of the Companies (Auditors Report) Order, 2020 are not applicable.

19) On the basis of the financial ra os, ageing and expected dates of realiza on of financial assets and payment of financial liabili es, other informa on accompanying the financial statements and our knowledge of the Board of Directors and Management plans and based on our examina on of the evidence suppor ng the assump ons, nothing has come to our a en on, which causes us to believe that any material uncertainty exists as on the date of the audit report indica ng that Company is not capable of meeting its liabili es exis ng 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 repor ng is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabili es 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.

20) a) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, there was no unspent amount required to be transferred to a Fund specified in Schedule VII to the Companies Act, 2013 in respect of other than ongoing projects. Accordingly, repor ng under Clause 3(xx)(a) of the Companies (Auditors Report) Order, 2020 is not applicable.

b) According to the informa on and explana ons given to us and based on our examina on of the records of the Company, there was no unspent amount in respect of ongoing projects requiring transfer to the Unspent Corporate Social Responsibility Account under Sec on 135(6) of the Companies Act, 2013. Accordingly, the repor ng requirements under clause 3(xx)(b) of the Companies (Auditors Report) Order, 2020 are not applicable to the Company.

For Mi al & Associates	CA Sourabh Bagaria
Chartered Accountants	Partner
Firm Reg No: 128045W	M.No.: 183850
	UDIN: 26183850RVVXUN6670
	Date: 29th May 2026
	Place: Mumbai
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