Ganon Products Ltd Directors Report.

To the Members of M/s Gamon products Limited

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying standalone annual financial results (the statement) of M/s. Ganon Products Limited ("the Company"), for the year ended 31st March. 2021), attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (listing Obligations and Disclosure requirements) regulations 2015 (as amended), including relevant circulars issued by Site SEBI from time to time,

in our opinion and to the best of our information and according to the explanations given to us. the statements

i. Presents financial results in accordance with the requirements of regulation 33 of the listing regulations, and

h. give a true and fair view in conformity with the applicable Indian Accounting Standards (Ind AS*) prescribed under Section 133 of the Companies Act, 2013 (the Act) read with relevant rules issues thereunder, and other accounting principles generally accepted in India, of the standalone net profit after tax and other comprehensive income and other financial information of the Company for the year ended 31 st March 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditors Responsbilities for the Audit of the Financial Statement section of our- report.We are Independent of the Company in accordance with the Code of Lillies issued by the Institute of Chartered Accountants of ndia (ICAI) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and (lie rules thereunder, and we have fulfilled our oilier ethical responsibilities in accordance with these requirements and the Code of Ethics, We believe that the audit evidence we have obtained is sufficient ami appropriate to provide a basis for our opinion.

Other Matters

With regard to management evaluation of uncertainty arising due to the outbreak of COVTD - 19 pandemic and its impact on the Companys operations and on the financial results of the Company as at and for the year ended 31st March 2020, The impact of these uncertainties on the Companys operations is significantly dependent on future developments. The opinion expressed in the present report is based mainly on the information,, facts and .input data made available to us through electronic means by the management. We wish to highlight that due to COV1D 19 induced restrictions on physical movement and strict timelines and the fact that place of business falls under Red Zone for lockdown implementation and there were constraints on actually visiting site place of business for verification, Hence, as regards audit for the Iast quarter, we were unable to visit the office had to rely on information provided to us digitally for conduct of audit procedures.

.Responsibility of Management and Those Charged with Governance for the Statements

The statement has been prepared on the basis of the annual audited financial statements and has been approved by the Companys Board of Directors. The Companys Board of Directors is responsible for the preparation and presentation of the statement that give a true and fair view of the net profit / loss and other comprehensive income and other financial information of the Company in accordance with the accounting principles generally accepted in India, including Ind AS specified under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India, and in compliance with regulation 33 of .he Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company anti for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and. estimates that arc 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 So die preparation and presentation of the financial statements that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the statements, the Board of Directors 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 Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of the Financial Statements.

Our objectives are to obtain reasonable assurance about whether the financial statements ns a whole is 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 Standards on. Auditing, specified under section 143(10) of the Act, 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 the expected to influence the economic decisions of users taken on the basis of tins statements.

As pan of an audit in accordance with Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

* identify and assess the risks of material misstatement of the statements, whether due to fraud or error, design and perform audit procedures responsive so those risks, and obtain audit evidence that is Sufficients and appropriate to provide a basis for our opinion The risk for detecting a material

misstatement resulting from fraud is higher than for one resulting from error, ns fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control,

* Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has in place adequate internal financial controls with reference to financial statements 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 die 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 conlinue as a going concern. I! we conduce dial a material uncertainty exist:;, we are required to draw attention m cutr suds tor is report to the related disclosure:; its tSie statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions arc based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause (tic Company to cease to continue as rt going concern.