Exhicon Events Media Solutions Ltd Auditor Reports

To

The Members of

Exhicon Events Media Solutions Limited

Report on the Audit of the Standalone Financial statements

Opinion

We have audited the accompanying nancial statements of Exhicon Events Media Solutions Limited (“the Company”), which comprise the Balance Sheet as at March 31, 2026, and the Statement of Pro t and Loss and the Cash Flow Statement for the year then ended, and a summary of signi cant 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 nancial 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 Accounting Standards prescribed under section 133 of the Act read with the Companies (Accounting Standards) Rules, 2006, as amended (“Accounting Standards”) and other accounting principles generally accepted in India, of the state of aairs of the Company as at March 31, 2026, its pro t/loss and its cash ows for the year ended on that date.

not exceed ten years from the date when the asset is available for use is considered by the management. The amortisation period and the amortisation method are reviewed at least at each nancial year end. If the excepted useful life of the assets is signi cantly di erent from previous estimates, the amortisation period is changed accordingly.

Basis for Opinion

We conducted our audit of the nancial statements in accordance with the Standards on Auditing speci ed under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditors Responsibility 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 (ICAI) together with the ethical requirements that are relevant to our audit of the nancial statements under the provisions of the Act and the Rules made thereunder, and we have ful lled our other ethical responsibilities in accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence obtained by us is suicient and appropriate to provide a basis for our audit opinion on the nancial statements.

Information Other than the Financial Statements and Auditors Report Thereon

? The Companys Board of Directors is responsible for the other information. The other information comprises the information included in the Management Discussion and Analysis and Directors Report (the “Reports”), but does not include the nancial statements and our auditors report thereon.

? Our opinion on the nancial 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 nancial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the nancial 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 information, 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 matters stated in section 134(5) of the Act with respect to the preparation of these nancial statements that give a true and fair view of the nancial position, nancial performance and cash ows in accordance with the Accounting Standards and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the

Act for safeguarding 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 nancial controls, that were operating eectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the nancial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the nancial 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 nancial reporting process.

Auditors Responsibility for the Audit of the Financial statements

Our objectives are to obtain reasonable assurance about whether the nancial 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 in uence the economic decisions of users taken on the basis of these nancial 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 nancial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is su icient 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 nancial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the eectiveness of the Companys internal control. ? Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the 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 signi cant 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 nancial 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 nancial statements, including the disclosures, and whether the nancial statements represent the underlying transactions and events in a manner that achieves fair presentation. Materiality is the magnitude of misstatements in the nancial statements that, individually or in aggregate, makes it probable that the economic

decisions of a reasonably knowledgeable user of the nancial statements may be in uenced. 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 e ect of any identi ed misstatements in the nancial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and signi cant audit ndings, including any signi cant de ciencies 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 Section 143(3) of the Act, based on our audit, 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.

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

d) In our opinion, the aforesaid standalone nancial statements comply with the Accounting Standards speci ed under Section 133 of the Act. e) On the basis of the written representations received from the directors as on 31st March, 2026 taken on record by the Board of Directors, none of the directors is disquali ed as on 31st March, 2026 from being appointed as a director in terms of Section 164(2) of the Act.

f) With respect to the adequacy of the internal nancial controls over nancial reporting of the Company and the operating e ectiveness of such controls, refer to our separate Report in “Annexure A”. Our report expresses an unmodi ed opinion on the adequacy and operating e ectiveness of the Companys internal nancial controls over nancial reporting.

g) 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 period is in accordance with the provisions of section 197 of the Act.

h) 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, as amended in our opinion and to the best of our information and according to the explanations given to us:

I. The Company does not have any pending litigations which would impact its nancial 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.

b) 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, as amended in our opinion and to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its nancial 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, 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(s) or entity(ies), including foreign entities (“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 identi ed in any manner whatsoever by or on behalf of the company (“Ultimate Bene ciaries”) or provide any guarantee, security or the like on behalf of the Ultimate 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(s) or entity(ies), including foreign entities (“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 identi ed in any manner whatsoever by or on behalf of the

Ahmedabad, May 18, 2026

Funding Party (“Ultimate Bene ciaries”) or provide any guarantee, security or the like on behalf of the Ultimate Bene ciaries;

c) Based on audit procedures which we 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. The company has declared and paid dividend of 0.15 paisa per equity share for the nancial year 2024-25, which was approved by the shareholders at the Annual General Meeting held on 27th September 2025. The dividend has been paid in compliance with the provisions of Section 123 of the Companies Act, 2013.

I) Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of account for the nancial year ended March 31, 2026 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. Additionally, as proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per the statutory requirements for record retention is applicable for the nancial year ended March 31, 2026.

2. As required by the Companies (Auditors Report) Order, 2020 (“the Order”), issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the “Annexure B”, a statement on the matters speci ed in paragraphs 3 and 4 of the Order, to the extent applicable.

For PIYUSH KOTHARI & ASSOCIATES

CHARTERED ACCOUNTANTS

FRN 140711W

(CA Piyush Kothari)

Partner

Membership No. 158407

UDIN - 26158407ALFTII7685

ANNEXURE “A” TO THE INDEPENDENT AUDITORS REPORT

Referred to in paragraph 1(f) under Report on Other Legal and Regulatory Requirements section of our report of even date)

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

We have audited the internal nancial controls over nancial reporting of Exhicon Events Media Solutions Limited (“the Company”) as of March 31, 2026 in conjunction with our audit of the standalone nancial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys management is responsible for establishing and maintaining internal nancial controls based on the internal control over nancial 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. These responsibilities include the design, implementation and maintenance of adequate internal nancial controls that were operating e ectively for ensuring the orderly and e icient conduct of its business, including adherence to respective 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 nancial information, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal nancial controls over nancial reporting of the Company and its joint operations companies incorporated in India (retain as applicable) 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 Institute of Chartered Accountants of India and the

Standards on Auditing prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal nancial 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 nancial controls over nancial reporting was established and maintained and if such controls operated eectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal nancial controls system over nancial reporting and their operating eectiveness. Our audit of internal nancial controls over nancial reporting included obtaining an understanding of internal nancial controls over nancial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating eectiveness 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 nancial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is suicient and appropriate to provide a basis for our audit opinion on the Companys internal nancial controls system over nancial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A companys internal nancial control over nancial reporting is a process designed to provide reasonable assurance regarding the reliability of nancial reporting and the preparation of nancial statements for external purposes in accordance with generally accepted accounting principles. A companys internal nancial control over nancial reporting includes those policies and procedures that

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

(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of nancial statements in 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 eect on the nancial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal nancial controls over nancial 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 nancial controls over nancial reporting to future periods are subject to the risk that the internal nancial control over nancial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal nancial controls system over nancial reporting and such internal nancial controls over nancial reporting were operating eectively as at March 31, 2026, based on the criteria for internal nancial control over nancial reporting established by the Company considering the essential components of internal control stated in the Guidance Note.

	For PIYUSH KOTHARI & ASSOCIATES
	CHARTERED ACCOUNTANTS
	FRN 140711W
Ahmedabad, May 18, 2026
	(CA Piyush Kothari)
	Partner
	Membership No. 158407
	UDIN - 26158407ALFTII7685

ANNEXURE “B” TO THE INDEPENDENT AUDITORS REPORT

Report under the Companies (Auditors Report) Order, 2020

(Referred to in paragraph 2 under Report on Other Legal and Regulatory Requirements section of our report of even date on the accounts of Exhicon Events Media Solutions Limited (the “Company”) for the year ended March 31, 2026)

I. According to the information & explanation given to us and on the basis of our examination of the records of the Company, in respect of property, plant & equipment and intangible assets:

a) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of its property, plant & equipment.

(B) The Company does not have any intangible assets during the year and, accordingly, the requirement to maintain records showing full particulars of intangible assets is not applicable.

b) The Property, Plant & Equipment were physically veri ed during the year by the management in accordance with a regular programme of veri cation which, in our opinion, provides for physical veri cation of all the xed assets at reasonable intervals. According to the information & explanation given to us, no material discrepancies were noticed on such veri cation.

c) The title deeds of all the immovable properties (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) disclosed in the nancial statements are held in the name of the Company.

d) The Company has not revalued its property, plant & equipment (including right to use assets) or intangible assets or both during the year and hence, reporting under clause 3(i)(d) of the order is not applicable.

e) There are no proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder and hence, reporting under clause 3(i)(e) of the order is not applicable.

I. (a) The Company does not hold inventory in the ordinary course of its business. However, in respect of venue structure construction activities, the Company has incurred expenditure towards materials and other costs relating to construction work in progress, which is recognised as Work-in-Progress (WIP) as at the reporting date. The Company has carried out physical veri cation of such WIP at reasonable intervals, and, in our opinion, the coverage and procedure of such veri cation by the Management are appropriate having regard to the size and nature of the Company. No discrepancies were noticed on such veri cation.

b) The Company has been sanctioned working capital and overdraft limits in excess of ve crore rupees, in aggregate, from banks on the basis of security of current assets. According to the information and explanation given to us and based on the examination fo the books of account and record of the company, the quarterly statement led to the bank by the company for the period under audit are in agreement with the books of account, except for the dierence of Rs. 3.62 crores in the statement submitted for March 2026 to ICICI Bank. The quarterly returns or statements of current assets led by the Company with such banks or nancial institutions are generally in agreement with the books of accounts other than t h o s e a s s e t o u t b e l o w : -

Months	Name of Bank	Particulars of Securities Provided	Amount as per Books ( in Crores)	Monthly return/ statement amount ( in Crores	Difference ( in Crores)	Reason for discrepancies
Jun-25	ICICI Bank	Book debts	19.06	19.06	0.00	N.A
Sep-25	ICICI Bank	Book debts	32.89	32.89	0.00	N.A
Dec-25	ICICI Bank	Book debts	24.06	24.06	0.00	N.A
Mar-26	ICICI Bank	Book debts	60.53	64.15	-3.62	See Note Below

Note : The aforesaid Dierence arose on account of certain adjustment/entries made in the books of account subsequent to submission of the quarterly statement to the bank, as part of the nalisation of the accounts for the year ended 31st March 2026. The dierence has been subsequently reconciled with the books of account.

iii. a) In our opinion and according to the information and explanations given to us, the Company has granted any loans or advances in the nature of loans are as under:-

a) During the year, company has advanced unsecured loans to its subsidiary company are as under :

Name of the Subsidiary	Opening balance as on 01-04- 2025	Loans advanced during the year	Interest Income	Loans Repaid	Closing balances as on 31-03- 2026
United Helicharters Private Limited	92,03,837	16,63,69,948	93,52,843	-	18,49,26,628

b) In our opinion and according to the information and explanations given to us, the terms and conditions of the said loans are not prejudicial to the interest of the Company, as these loans were extended as part of business/commercial arrangements.

(c) Since the loans repayment schedule has not been stipulated, we are unable to comment on the regularity of repayment of principal and interest.

(d) The loan is repayable on demand and no overdue amounts are outstanding as at the balance sheet date. e) According to the information and explanations given to us, the Company has granted loans and advances for an extended part of business arrangement. These loans are repayable on demand and without specifying any terms or period of repayment. This loan have been granted to subsidiaries, which are related parties as de ned in clause (76) of section 2 of the Companies Act, 2013.

As inform to us and explanation provided to us, the Company made investments in a subsidiary company whose details are mentioned below:

Particulars	The carrying amount at the end of the year (Rs. In lakhs)	Percentage of holding (%)
United Helicharters Pvt Ltd	171.18	80
Green Branch Contracting and landscaping LLC	83.48	76
Maple Heights Business Centre LLC	175.00	51
Exhicon Global Development Pvt Ltd	15.00	100

iii. In our opinion and according to information and explanation given to us, the company has complied the provisions of section 185 and 186 of the Companies Act, 2013 in respect of loans granted, investments made and guarantees and securities provided, as applicable.

iv. According to the information and explanation given to us, the Company has not accepted any deposits or amounts deemed to be deposits during the year and hence the directives issued by the Reserve Bank of India and the provisions of Section 73 to 76 or any other relevant provisions of the Act and the rules framed thereunder are not applicable to the Company.

v. According to the information and explanation given to us, the company is not liable to maintain cost records speci ed by the Central Government under section 148(1) of the companies Act, 2013. Accordingly, Clause 3(vi) of the order is not applicable.

vi. According to the information & explanation given to us, in respect of statutory dues: a) The Company has been generally been regular in depositing undisputed statutory dues including Goods & Service Tax, Provident Fund, Employees State Insurance, Income-tax, Sales tax, Service Tax, Customs Duty, Value Added Tax, Goods and Services Tax, Cess and other material statutory dues applicable to it with the appropriate authorities during the year. Please refer Notes 28 forming part of the nancial statement except this, there were no undisputed amounts payable in respect of Goods & Service Tax, Provident Fund, Employees State Insurance, Income-tax, Sales tax, Service Tax, Customs Duty, Value Added Tax, Goods & Services Tax, Cess and other material statutory dues in arrears as at March 31, 2026 for a period of more than six months from the date they became payable.

a) There are no statutory dues referred to in subclause (a) above which have not been deposited as on March 31, 2026 on account of any dispute except as under:

Nature of the Statue	Nature of Dues	Forum where dispute is pending	Period to which amount relates	Amount in Rs
Income Tax Act	Outstanding demand	Central Processing Centre (CPC) of the Income Tax Department	FY 2022-23	Outstanding Demand Rs.36,83,110 and Outstanding Interest Rs. 11,04,930
Income Tax Act	Outstanding demand	Central Processing Centre (CPC) of the Income Tax Department	FY 2024-25	Outstanding Demand Rs. 1,95,43,930/- and Outstanding Interest Rs. 11,72,634
Goods and Service Tax Act	Outstanding demand	Show Cause Notice	FY 2021-22	Outstanding Demand Rs. 80,09,280

The Company has made the provision for Income Tax in nancial statement as at 31-03-2026. However, in case of Goods and Service Tax Act there is a disputed amount of Rs. 90,09,280 in Appeal, the Company has not made provision as is of the opinion that it is unlikely that they will be liable to pay the above amount.

Further, Company has not deposited any amount against its outstanding liability for the current year and previous years.

vii. There were no transactions relating to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year.

viii.Based on information and explanation provided by the management of Company and on the basis of our examination of the records of the Company,

a) The Company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to any lender.

Hence, reporting under paragraph 3(ix)(a) is not applicable to that extent.

b) The Company has not been declared wilful defaulter by any bank or nancial institution or other lender.

c) The Company has not applied for any term loans during the year and accordingly, the reporting under clause 3(ix)(c) of the Order is not applicable

d) On an overall examination of the nancial statements of the Company, funds raised on short-term basis have, prima facie, not been used during the year for long-term purposes by the Company.

e) On an overall examination of the nancial statements of the Company, the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures.

f) The Company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies and hence reporting on clause 3(ix)(f) of the Order is not applicable.

ix. (a) During the year, the Company has not raised any money by way of Initial Public oer or further public o er (including debt instruments). Accordingly, Clause 3(x)(a) of the Order is not applicable to the company.

(b) According to the information & explanation given to us and on basis of our examination of the records of the company, the company has not made any private placement of shares or convertible debenture (fully or partially or optionally convertible) during the year. Accordingly, Clause 3(x)(b) of the Order is not applicable to the company.

During the year the Company has made conversion of preferential allotment of Share warrants in to equity share as the warrant amount is received against allotted warrants. The details are as under:

Sr. No. Date of Conversion	No. of Share Warrants	Face Value per share	Premium of Rs.	Total Price per Warrant
1 12.05.2025	40,000	10	285	295
2 04.07.2025	1,62,000	10	305	315
3 06.08.2025	7,95,000	10	305	315
4 12.12.2025	4,31,000	10	305	315
5 17.12.2025	3,76,000	10	305	315
Total	18,04,000

x. (a) To the best of our knowledge, no fraud by the Company and no material fraud on the Company has been noticed or reported during the year.

(b) 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, a report under Section 143(12) of the Act, in Form ADT-4, as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 was not required to be led with the Central Government. Accordingly, the reporting under clause 3(xi)(b) of the Order is not applicable to the Company.

(C) Whistle-blower complaints have not been received during the year by the Company.

xi. In our opinion and according to information and explanations given to us, clause (xii) of para 3 to Companies (Auditors Report) Order, 2020 w.r.t. Nidhi Company is not applicable to company. Accordingly, the paragraph 3(xii) of the order is not applicable to the company and hence not commented upon.

xii. According to the information and explanations given to us and based on our examination of the record of the Company, transactions with related parties are in compliance with the provisions of section 177 and 188 of the Companies Act where applicable and the details have been disclosed in the nancial statements etc. as required by the applicable accounting standards.

xiii.(a) In our opinion, the Company has an adequate internal audit system commensurate with the size and the nature of its business.

(b) The internal audit reports issued to the Company during the year and covering the period up to March 31, 2026 for the period under audit. Internal audit is applicable to the Company as per the Provisions of section 138 of the Companies Act, 2013 read with rule 13 of the Companies (Accounts) Rules, 2014. Company has informed that they have appointed M/s JHS

& Associates LLP, Chartered Accountants, (Firm Reg. No. 133288W/W100099) on March 18, 2026 as internal auditor for the Financial Year 2025-26 and 2026-27.

xiv. According to the information and explanations given to us and based on our examination of the record of the Company, the company has not entered into any non-cash transactions with directors or persons connected with him hence provisions of section 192 of the Companies Act, 2013 are not applicable to the Company.

xv. (a) The company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934 and hence, reporting under clause 3(xvi)(a) of the order is not applicable.

(b) The company has not conducted any non-banking nancial or housing nance activities during the year and hence, the company is not required to obtain certi cate of registration from the Reserve Bank of India as per the Reserve Bank of India Act, 1934. Accordingly, reporting under clause 3(xvi)(c) of the order is not applicable.

(c) The company is not a Core Investment Company as de ned in the regulations made by the Reserve Bank of India and hence, reporting under clause 3(xvi)(c) of the order is not applicable.

(d) According to the information and explanations provided to us during the course of audit, the Group does not have any CIC. Accordingly, the requirements of clause 3(xvi)(d) are not applicable.

xvi. The Company has not incurred cash losses during the nancial year covered by our audit and the immediately preceding nancial year.

xvii. There has been no resignation of the statutory auditors of the Company during the year.

xviii. On the basis of the nancial ratios, ageing and expected dates of realization of nancial assets and payment of nancial liabilities, other information accompanying the nancial 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.

xix. According to the information and explanations given to us and based on our examination of books and records of the company there are no unspent amount towards Corporate Social Responsibility (CSR) on either ongoing projects or other than ongoing projects under section 135 of the Act and accordingly, reporting under paragraph 3(xx)(a) and (b) of the order is not applicable to the Company;

xx. The company have subsidiary companies so consolidated nancial statements are required to prepare. However, we have not observed any quali cation or adverse remarks in CARO reports of subsidiary companies.

	For PIYUSH KOTHARI & ASSOCIATES
	CHARTERED ACCOUNTANTS
	FRN 140711W
Ahmedabad, May 18, 2026	(CA Piyush Kothari)
	Partner
	Membership No. 158407
	UDIN - 26158407ALFTII7685