Fischer Medical Ventures Ltd Auditor Reports

To the Members of

Fischer Medical Ventures Limited (Formerly known as Fischer Chemic Limited)

Report on the Audit of Standalone Financial Statements

Opinion

We have audited the accompanying financial statements of Fischer Medical Ventures Limited (Formerly known as Fischer Chemic Limited) ("the Company") which comprise the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss (Including other Comprehensive Income), Statement of Changes in Equity, and the statement of Cash Flows for the year then ended and notes to the Standalone financial statements, including a summary of significant 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 Act in the manner so required and give a true and fair view in conformity with the with the Indian Accounting Standards prescribed under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, ("Ind AS") and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2026, and its Loss and Other Comprehensive Income, the 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 Companies Act, 2013. Our responsibilities under those Standards 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 financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with 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.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, we do not provide a separate opinion on these matters. We have determined the matter described below to be the key audit matters to be communicated in our report.

Key audit matter	How our audit addressed the key audit matter
Lease Liabilities and Net Investment in Leases
The Company has lease arrangements which give rise to lease liabilities and net investment in leases recognised in accordance with Ind AS 116, Leases. The measurement of lease liabilities and net investment in leases involves significant management judgement, particularly in determining the lease term, estimating future lease payments and determining the appropriate discount rate. The assessment also involves consideration of lease modifications, renewals and termination options, where applicable. Given the significance of these balances to the financial statements and the judgements involved in their measurement, we considered this to be a key audit matter.	In view of the significance of the matter, we performed the following audit procedures to obtain sufficient appropriate audit evidence:
	• Obtained and evaluated the lease agreements and assessed the identification and completeness of lease arrangements.
	• Evaluated the reasonableness of key assumptions and judgements used by management in determining the lease term, lease payments and discount rates.
	• Tested the underlying lease data and recalculated lease liabilities and net investment in leases on a sample basis.
	• Tested lease receipts/payments during the year by agreeing them to supporting documents and bank records, where applicable.
	• Evaluated the accounting treatment of lease modifications, renewals and other changes in lease terms, where applicable.
	• Assessed the classification and measurement of leases in accordance with the requirements of Ind AS 116.
	• Assessed the adequacy and appropriateness of the related disclosures in the financial statements in accordance with Ind AS 116.

Information Other than the Financial Statements and Auditors Report Thereon

The Companys Management and Board of Directors are responsible for the other information. The other information comprises the information included in the Annual report but does not include the Standalone Financial Statements and our auditors report thereon. The 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 financial statements, our responsibility is to read the other information 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. If based on the work we have performed, we conclude that there is no material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements

These financial statements are the responsibility of the Companys management. The Firms Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of the standalone financial statements that give a true and fair view of the financial position & financial performance of the Company in accordance with the accounting principles generally accepted in India, including Indian Accounting Standards (Ind AS) prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended.

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 financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Statements 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.

The board of directors are also responsible for overseeing the Companys financial reporting process.

Auditors Responsibility 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.

Responsibilities for Audit of 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 financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls with reference to Standalone Financial Statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure, and content of the standalone financial statements, including 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 the aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work in evaluating the results of our work, and (ii) evaluating the effect of any identified misstatements in the standalone financial statements.

• We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal financial controls 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.

• From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the standalone financial statements of the current period and are therefore the 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 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 A" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

2) Further to our comments in Annexure A, as required by section 143(3) of the Act, based on our audit, we report, to the extent applicable, 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 purpose 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 Company has a branch office, the accounts of which have been audited by us, being the auditor appointed for the Company under the Companies Act, 2013. Accordingly, the provisions of Section 143(8) of the Act relating to the audit of branch accounts are complied with.

d) The standalone Balance Sheet, the standalone Statement of Profit and Loss (including Other Comprehensive Income), the standalone Statement of Changes in Equity and the standalone Statement of Cash Flows dealt with by this Report are in agreement with the books of account.

e) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards specified under section 133 of the Act.

f) There are no financial transactions or matters which have any adverse effect on the functioning of the Company.

g) On the basis of written representations received from the directors as on March 31, 2026 taken on record by the Board of Directors, none of the directors are disqualified as on March 31, 2026, from being appointed as a director in terms of Section 164 (2) of the Act.

h) There are no qualifications, adverse remarks or reservations relating to maintenance of books of account.

i) 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 B". Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Companys internal financial controls with reference to Standalone Financial Statements.

j) In our opinion and according to the information and explanations given to us, the Company has not paid any remuneration to its directors during the year. Accordingly, the reporting requirements under Section 197(16) of the Companies Act, 2013 are not applicable.

k) 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 does not have any pending litigations which would impact its financial position.

ii. The Company has made provision, as required under the applicable law or accounting standard, for material for foreseeable losses if any, on long-term contracts including derivative contracts as at March 31, 2026. iii. There were no amounts that were required to be transferred to the Investor Education and Protection Fund by the Company during the year ended March 31, 2026.

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 identified in any manner whatsoever by or on behalf of the company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

iv. 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 identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

c) Based on audit procedures that we considered reasonable and appropriate in the circumstances, nothing has come to the notice that has caused them to believe that the representations under sub-clause (i) and (ii) contain any material misstatement. v. The company has declared and paid dividend during the year and the same is in accordance with the provisions of section 123 of the Companies Act, 2013. vi. In our opinion and according to the information and explanations given to us, the Company has not paid any remuneration to its directors during the year. Accordingly, the reporting requirements under Section 197(16) of the Companies Act, 2013 are not applicable. viii. As per the proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014, the requirement to maintain books of account using accounting software having an audit trail (edit log) feature, which records each and every change made in the books of account along with the date of such changes and ensures that the audit trail cannot be disabled, became applicable to the Company with effect from April 1, 2023. Based on our examination, which included a review of the audit trail process and based on the agreement with the software product vendor, the accounting software used by the Company for maintaining its books of account 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, we did not come across any instance of the audit trail having been tampered with. The Company has also preserved the audit trail in accordance with the statutory requirements relating to record retention.

	For Bilimoria Mehta & Co.
	Chartered Accountants
	FRN – 101490W
	Aakash Mehta
	Partner
Place of Signature: Mumbai	Membership no. 165824
Date: May 29, 2026	UDIN: 26165824RRKPOM24712

Annexure - A to the Auditors Report referred to in Paragraph 16 of the Independent Auditors Report of even date to the members of Fischer Medical Ventures Limited on the standalone financial statements for the year ended March 31, 2026

Based on the audit procedures performed for the purpose of reporting a true and fair view on the standalone financial statements of the Company and taking into consideration the information and explanations given to us and the books of account and other records examined by us in the normal course of an audit, and to the best of our knowledge and belief, we report that: (i) (a) (A) The Company has maintained proper records showing full particulars, including quantitative details and the situation of Property, plant, and equipment.

(B) The Company does not hold any intangible assets during the year.

(b) The fixed assets have been physically verified by the management during the year and no material discrepancies were noticed on such verification. In our opinion, the frequency of verification of the fixed assets is reasonable having regard to the size of the Company and the nature of its assets. (c) The Company does not hold any immovable properties; hence no title is held in name of the Company. In respect of immovable properties of office premises that have been taken on lease and disclosed as ROU assets in the financial statements, the lease agreements are in the name of the Company, where the Company is the lessee in the agreement.

(d) The company has not revalued any of its Property, Plant, and Equipment (including Right of Use assets) or intangible assets or both during the year. Hence, reporting under this clause is not applicable. (e) According to the information and explanations given to us by the management and on the basis of our examination of the records of the Company, no proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibitions) Act, 1988 (45 of 1988) and rules made thereunder.

(ii) (a) The Company has conducted physical verification of inventory at reasonable intervals by the management and, in the opinion of the auditor, the coverage and procedure of such verification by the management is appropriate; No discrepancies of 10% or more in the aggregate for each class of inventory were noticed.

(b) According to the information and explanations given to us, the company has not been sanctioned working capital limits in excess of five crore rupees, in aggregate, from banks on the basis of security of current assets. Hence, reporting under clause (ii) (b) of para 3 of the Order is not applicable to the company.

(iii) During the year, the Company has granted loans to companies and has made investments in foreign companies incorporated outside India. The Company has not provided any guarantee or security or granted any advances in the nature of loans, secured or unsecured, to any company, firm, Limited Liability Partnership or other party. In respect of the aforesaid loans and investments: (a) (A) The Company has provided advances in the nature of loans to its Subsidiary "Time Medical International Ventures (India) Private Limited" during the year, The details are follows:

Name of Company	Relationship	Aggregate amount of during the year (_ in lakhs)	Outstanding balance as on March 31, 2026
Time Medical International Ventures (India) Private Limited	Subsidiary	_ 701.44	Nil

(B) No loans or advances and guarantees or security are granted to parties other than subsidiaries, joint ventures and associates during the year, and hence reporting under clause 3(iii)(a) (B) of the Order is not applicable.

(b) According to the information and explanations given to us, the terms and conditions of the investment made by the Company during the year are not prejudicial to the Companys interest.

(c) There are no loans and advances where the schedule of repayment of principal and payment of interest has been stipulated are irregular;

(d) There are no amounts of loans granted to companies that are overdue for more than ninety days. Accordingly, the requirement to report on clause 3(iii)(d) of the Order is not applicable to the Company.

(e) There were no loans which had fallen due during the year, that have been renewed or extended or fresh loans granted to settle the over dues of existing loans given to the same parties. Accordingly, the requirement to report on clause 3(iii)(e) of the Order is not applicable to the Company.

(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 to companies, firms, Limited Liability Partnerships or any other parties. Accordingly, the requirement to report on clause 3(iii)(f) of the Order is not applicable to the Company.

(iv) The Company has complied with the provisions of Sections 185 and 186 of the Companies Act, 2013 in respect of loans granted, investments made, guarantees provided and securities given, as applicable. Except for Investment made in shares of Obelabs Inc. where Audit Committee approval was obtained for an investment of USD 5.00 Lakh for 30,757 shares. However, an amount of USD 5.05 Lakhs was transferred to Obelabs Inc. (v) According to the information and explanations given to us, the Company has not accepted deposits under the provisions of Sections 73 to 76 or any other relevant provisions of the Act and the rules framed thereunder.

Accordingly, the reporting under Clause 3(v) of the Order is not applicable to the Company.

(vi) The Company is not required to maintain cost records specified by the Central Government under sub section (1) of section 148 of the Act. Hence, reporting under clause (vi) of para 3 of the Order is not applicable.

(vii) (a) The Company is regular in depositing with appropriate authorities and undisputed statutory dues including goods and services tax, provident fund, employees state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and other statutory dues applicable to it. However, there was slight delay in certain cases. According to the information and explanations given to us and based on audit procedures performed by us, no undisputed amounts payable in respect of these statutory dues were outstanding, at the year end, for a period of more than six months from the date they became payable.

(vii) (b) According to the information and explanations given to us and based on the records examined by us, there are no dues of Goods and Services Tax, Provident Fund, Employees State Insurance, Sales Tax, Service Tax, Duty of Customs, Duty of Excise, Value Added Tax, Cess or any other statutory dues which have not been deposited by the Company on account of any dispute except for the the following statutory dues that have not been deposited on account of disputes:

Name of the Statute	Nature of Dues	Amount (_ in Lakhs)	Period to which the amount relates	Forum where dispute is pending
Income-tax Act, 1961	Taxes & Interest	_ 0.40	2025-26	CPC
		_ 0.02	2024-25	CPC
		_ 0.01	2016-17	CPC

(viii) As per the information and explanations given by the management and on the basis of our examination of the records of the Company, no amount has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961. Hence, reporting under clause (viii) of para 3 of the order is not applicable.

(ix) (a) The Company has not defaulted in repayment of loans or borrowings to any bank or financial institution or government during the year.

(b) According to the information and explanations given to us, the Company has not been declared a willful defaulter by any bank or financial institution or any other lender till the date of our audit report.

(c) According to the information and explanations given to us and based on the audit procedures performed by us, the term loans obtained by the Company during the year were applied for the purposes for which such loans were obtained. However, the Company had obtained a loan from its subsidiary,_"Time Medical International Ventures (India) Private Limited", amounting to_ _ 11.62 Lakhs during the year for meeting the obligations of its other subsidiaries. The said amount was subsequently recovered during the year and, the amount was ultimately utilised for the purpose for which the loan was obtained.

(d) In our opinion and according to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, no funds are raised on a short-term basis and hence reporting under Clause (ix) (d) of the Order is not applicable.

(e) According to the information and explanations given to us and on an overall examination of the financial statements of the company, we report that the company has taken funds from following entities on account of or to meet the obligations of its subsidiaries as per details below:

Nature of fund taken	Name of Lender	Amount involved (_ in lakhs)	Name of the Entities	Relationship	Nature of Transaction for which funds utilized
	Time Medical	_ 10.75	Flynncare Health Innovations Pvt Ltd	Subsidiary	Advances
Loan	I n t e r n a t i o n a l Ventures (India) Private Limited	_ 0.69	Nanyang Biologics Pvt Ltd	Subsidiary	Advances
		_ 0.18	Wondertech Medical Solutions Pvt Ltd	Subsidiary	Advances

(f) According to the information and explanations given to us and based on the audit procedures performed by us, we report that the Company has not raised any loans during the year on the pledge of securities held in its subsidiaries. Accordingly, the reporting under Clause 3(ix)(f) of the Order is not applicable to the Company.

(x) (a) According to the information and explanations given to us, the Company has not made any initial public offer or further public offer (including debt instruments) during the year. Accordingly, the reporting under the clause 3(x)(a) of the Order is not applicable to the Company.

(b) According to the information and explanations given to us, the Company has utilized funds raised by way of preferential allotment or private placement of shares or convertible debentures (fully, partially, or optionally convertible) for the purposes of which they were raised.

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

(b) According to the information and explanations given to us including the representation made to us by the management of the Company, no report under sub-section 12 of Section 143 of the Act has been filed in Form ADT-4, as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014, with the Central Government of India for the period covered by our audit.

(c) As represented to us by the management, there are no whistle-blower complaints received by the Company during the year (xii) According to the information and explanations given to us, the Company is not a Nidhi company and the Nidhi Rules, 2014 are not applicable to it. Accordingly, the reporting under Clause 3(xii) of the Order is not applicable to the Company.

(xiii) In our opinion and according to the information and explanations given to us, the transactions with related parties are in compliance with Section 177 and 188 of the Act, where applicable, and the details of the related party transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards.

(xiv) (a) To the best of our knowledge and belief and according to the information and explanations given to us, the Company has an internal audit system commensurate with the size and nature of its business.

(b) We have considered internal audit reports of the Company issued till date, for the period under audit, in determining the nature, timing and extent of our audit procedures (xv) According to the information and explanations given to us, the Company has not entered into any non-cash transactions with its directors or directors of its holding company, or subsidiary companies or persons connected with them during the year and hence, the provisions of Section 192 of the Act are not applicable to the Company. Accordingly, the reporting under Clause 3(xv) of the Order does not apply to the Company. (xvi) (a) The Company is not required to be registered under Section 45 IA of the Reserve Bank of India Act, 1934, and accordingly, the provisions stated in paragraph 3 (xvi)(a) of the Order are not applicable to the Company (b) In our opinion and according to the information and explanations given to us, the Company has not conducted any Non-Banking Financial or Housing Finance activities. Accordingly, the reporting under Clause 3(xvi)(b) of the Order does not apply to the Company.

(c) In our opinion and according to the information and explanations given to us, the Company is not a Core Investment Company (CIC) as specified in the regulations made by the Reserve Bank of India. Accordingly, the reporting under Clause 3(xvi)(c) of the Order does not apply to the Company.

(d) Based on the information and explanations given to us, the company and any of group company is not CORE Investment Company (as defined in the Core Investment Companies (Reserve Bank) Directions,2016). Accordingly, the reporting under Clause 3(xvi)(d) of the Order does not apply to the Company.

(xvii) The Company has incurred cash losses of _374.67 lakhs during the financial year, while there were no cash losses in the immediately preceding financial year. (xviii) There has been no resignation of the statutory auditors during the year. Accordingly, the reporting under Clause 3(xviii) of the Order does not apply to the Company. (xix) According to the information and explanations given to us and 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 financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the 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) The provisions relating to Corporate Social Responsibility (CSR) under Section 135 of the Companies Act, 2013 are not applicable to the Company. Accordingly, the Company is not required to create any specified fund under Schedule VII._Hence, reporting under Clause (xx) of the Companies (Auditors Report) Order, 2020 is not applicable to the Company.

	For Bilimoria Mehta & Co.
	Chartered Accountants
	FRN – 101490W
	Aakash Mehta
	Partner
Place of Signature: Mumbai	Membership no. 165824
Date: May 29, 2026	UDIN: 26165824RRKPOM24712

Annexure - B to the Auditors Report

Independent Auditors Report on the internal financial controls with reference to the standalone financial statements under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (‘the Act)

In conjunction with our audit of the standalone financial statements of Fischer Medical Ventures Limited (Formerly known as Fischer Chemic Limited) (‘the Company) as at and for the year ended March 31, 2026, we have audited the internal financial controls with reference to the financial statements of the Company as at that date.

Managements Responsibility for Internal Financial Controls

The respective Boards of Directors of the Company and its subsidiary companies, which are companies incorporated in India, are responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the respective Companies 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 (the "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 the 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 financial information, as required under the Act.

Auditors Responsibility

Our responsibility is to express an opinion on the internal financial controls with reference to the Standalone financial statements of the Company and its subsidiary companies, which are companies incorporated in India, 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 ("ICAI") and the Standards on Auditing, prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls with reference too financial statements. 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 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 with reference to financial statements and their operating effectiveness. Our audit of internal financial controls with reference to financial statements included obtaining an understanding of internal financial controls with reference to 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 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 with reference to the financial statements of the Company and its subsidiary companies, which are companies incorporated in India

Inherent Limitations of Internal Financial Controls with reference to Standalone Financial Statements

Because of the inherent limitations of internal financial controls with reference to 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 Standalone financial statements to future periods are subject to the risk that the internal financial control with reference to Standalone financial statements 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 and to the best of our information and according to the explanations given to us, the Company has in all material respects, an adequate internal financial controls system with reference to Standalone financial statements and such internal financial controls with reference to Standalone financial statements were operating effectively as at March 31, 2026, based on the criteria for internal financial control with reference to Standalone financial statements established by the respective companies considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the ICAI.

	For Bilimoria Mehta & Co.
	Chartered Accountants
	FRN – 101490W
	Aakash Mehta
	Partner
Place of Signature: Mumbai	Membership no. 165824
Date: May 29, 2026	UDIN:26165824RRKPOM24712