Global Education Ltd Auditor Reports

TO THE MEMBERS OF GLOBAL EDUCATION LTD. CIN No: L80301MH2011PLC219291

Report on the Audit of Standalone Financial Statements

Opinion

We have audited the accompanying standalone nancial statements of GLOBAL EDUCATION LTD ("the Company"), which comprise the Balance Sheet as at 31 March, 2025, the statement of Pro t and Loss (including other comprehensive income), the statement of change in equity and the statement of cash ow for year ended on that date and a summary of signi cant accounting policies and other explanatory information. (Hereafter referred as standalone Ind AS nancial statements).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone 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 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 state of a airs of the Company as at 31st March, 2025, the Pro t and the total comprehensive income, changes in equity and its cash ows for the year ended on that date.

Basis of opinion

We conducted our audit of standalone nancial statement in accordance with standard on Auditing ("SA") speci ed under section 143 (10) of the Act. Our responsibility under those standards is further described in the auditors responsibilities for the audit of standalone nancial statement section of our report. we are independent of the company in accordance with the code of Ethics issued by institute of chartered Accountants(ICAI") together with the ethical requirement that are relevant to our audit of the standalone nancial statement under provision of the act and the rules are 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 audit evidence obtained by us su cient and appropriate to provide a basis for our audit opinion on the standalone nancial statement.

Key Audit Matters

The Key audit matters are those matters that, in our professional judgement were of most signi cant in our audit of standalone nancial statement of the current period. These matters were addressed in the context of our audit of the standalone nancial statement as a whole, and in forming our opinion thereon, and we do not provide separate opinion on these matters.

Information other than the Standalone Ind AS 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 analyses, Boards Report including annexure to Boards Report, Business Responsibility and sustainability Report, Corporate Governance and Shareholders information, but does not include the Consolidated Financial Statement, Standalone nancial statement, and our Auditors report thereon.

Our opinion on the Standalone 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 standalone nancial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone 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 this fact. We have nothing to report in this regard.

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

The Companys 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 these standalone nancial statements that give a true and fair view of the nancial position, nancial performance including other comprehensive income, cash ows and changes in equity of the Company in accordance with the Ind AS 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 e ectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone nancial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone nancial statements, Management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matter relating to going concern and using the going concern basis of accounting unless the Board of Director either intends to liquidate the Company or to cease the operations, or has no realistic alternative but to do so.

The Board of Directors are responsible for overseeing the Companys nancial reporting process.

Auditors Responsibility for the Audit of the Standalone Financial Statements

Our Objectives are to obtain reasonable assurance about whether the standalone nancial statements as a whole are free from material misstatement whether due to error or fraud, 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 aggregate, they could reasonably be expected to in uence the economic decisions of users taken on the basis of these standalone nancial Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Standalone nancial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is su cient 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. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal nancial controls system in place and the operating e ectiveness 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 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 Standalone nancial statements, including the disclosures, and whether the Standalone nancial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatement in the standalone nancial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable users of the Standalone nancial statement may be in uenced. We considered quantitative materiality and qualitative factors in

(I) Planning the scope of our Audit work and evaluating results of our work.

(II) To evaluate the e ects of any identi ed misstatements in the standalone 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.

From the matter communicated with those charged with governance, we determined those matters that were of most signi cance in the audit of standalone nancial statement of the current period and are therefore the key audit matters. We describe these matters in our Auditors report unless law or regulations preclude 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 accepted to outweigh the public interest bene t of such communication.

Report on Other Legal and Regulatory Requirements

1. B.1. As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books;

c The Balance Sheet, the Statement of Pro t and Loss including other comprehensive income, statement of Cash ow and statement of change in equity 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 Ind AS speci ed under Section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014.

(e) On the basis of the written representations received from the directors as on 31 March, 2025 taken on record by the Board of Directors, none of the directors is disquali ed as on 31 March, 2025 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 the operating e ectiveness of the Companys Internal Financial Controls with reference to the Standalone Financial Statements.

(g) With respect to the other matters to be included in the Auditors Report in accordance with the requirement of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the explanation given to us, the remuneration paid by the company to its directors during the year, is in accordance with section 197 of the act.

(h) With respect to the other matters to be included in the Auditors Report in accordance with the 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 a ect 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 required to be transferred to the Investor Education and Protection Fund by the Company

iv. (a) The Management represented to us that, to the best of their knowledge and belief, no funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether recording in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest in other persons or entities identi ed in any manner whatsoever by or on behalf of the Company or any of such subsidiaries ("Ultimate Bene ciaries") or provide any guarantee, security or the like on behalf of the Ultimate Bene ciaries.

(b) The respective Management represented to us that, to the best of their knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company or any of such subsidiaries shall, directly or indirectly, lend or invest in other persons or entities identi ed in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Bene ciaries") or provide any guarantee, security or the like on behalf of the Ultimate Bene ciaries.

(c) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances , nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material misstatement

v. As informed to us,

(a) The Final Dividend proposed in the previous year, declared and paid by the Company during the year is in accordance with section 123 of the Act, as applicable.

(b) The Interim Dividend declared and paid by the Company during the year and until the date of this report is in compliance with section 123 of the Act

(c) The Board of Directors of the Company has proposed Final Dividend for the year which is subject to the approval of the members at the ensuing Annual General Meeting. The Amount of Dividend proposed is in accordance with section 123 of the Act as applicable.

vi. 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, 2025 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 and the audit trail has been preserved by the Company as per the statutory requirements for record retention.

2. As required by Companies (Auditors Report) Order, 2020 (the "Order") issued by Central Government in terms of section 143 (11) of the Act, we give in "Annexure B", a statement on the matters speci ed in paragraph 3 and 4 of the Order.

For and on behalf of

Patel Shah & Joshi

Chartered Accountants

Firm Registration No. 107768W

Jayant I Mehta

Partner

Membership No: 042630

Place: Mumbai

Date: 16th May2025

UDIN: 2542630BMKOZO2026