Iykot Hitech Toolroom Ltd Auditor Reports

To the members of M/s. IYKOT Hitech Toolroom Limited Report on the Audit of the Financial Statements:

Opinion:

We have audited the accompanying financial statements of M/s.IYKOT Hitech Toolroom Limited (“the Company”), which comprises the Balance Sheet as at March 31, 2025, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date, and a summary of the significant accounting policies and other explanatory information (hereinafter referred to as “the financial statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial 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 the state of affairs of the Company as at March 31, 2025, the Loss and total comprehensive income, 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 specified under section 143(10) of the Act (SAs). 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 (ICAI) together with the independence requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act 2013 and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in

accordance with the requirements and the ICAls Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial 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 Boards Report including Annexures to Boards Report, BusinessResponsibility Report, Corporate Governance and Shareholders Information, but does not include the financial statements andour auditors report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assuranceconclusion 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 financial statements or our knowledge obtainedduring the course of our audit or otherwise appears to be materially misstated.

If, based on the work we have performed, on the other information obtained prior to the date of this auditors report, we conclude that there is a material misstatement of this other information, we are required toreport 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 financial statements that give a true and fair view of the financial position, financial performance, total comprehensive income,changes in equity and cash flows of the Company in accordance with the Ind AS and other accounting principles generally accepted inlndia.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act forsafeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation andmaintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of theaccounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view andare

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In preparing the financial statements, management is responsible for assessing the Companys ability to continue as a goingconcem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materialmisstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high levelof assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably beexpected to influence the economic decisions of users taken on the basis ofthes 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 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 toprovide a basis for our opinion. The risk of not detecting a material misstatement resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intemalcontrols.

? Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that areappropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion onwhether the Company has adequate internal financial controls system in place and the operating effectiveness of suchcontrols.

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

• Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the auditevidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on theCompanys ability tp

continue as a going concern. If we conclude that a material uncertainty exists, we are required to drawattention in our auditors report to the related disclosures in the financial statements or, if such disclosures areinadequate, 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 financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fairpresentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit andsignificant audit findings, including any significant deficiencies 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 regardingindependence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on ourindependence, 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:

• We have sought and obtained all the infonnation and explanations which to the best of our knowledge and belief were necessaryfor the purposes of our audit.

• 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.

• The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, Statement of Changes in Equity andthe Statement of Cash Flow dealt with by this Report are in agreement with the relevant books of account.

• In our opinion, the aforesaid financial statements comply with the Ind AS specified under Section 133 of the Act, readwith Rule 7 of the Companies (Accounts) Rules, 2014.

• On the basis of the written representations received from the directors as on March 31, 2025 taken on record by the Board ofDirectors, none of the directors is disqualified as on March 31, 2025 from being appointed as a director in terms of Section 164 (2) of the Act.

• With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operatingeffectiveness of such controls, refer to our separate Report in “Annexure B”. Our report expresses an unmodified opinion on theadequacy and operating effectiveness of the Companys internal financial controls over financial.

• With respect to the other matters to be included in the Auditors Report in accordance with the requirements of section 197(16) ofthe 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 theCompany to its directors during the year is in accordance with the provisions of section 197 of the Act.

• With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit andAuditors) Rules, 2014, as amended in our opinion and to the best of our information and according to the explanations given to us :

a) The Company does not have any pending litigations on its financial position in its financial statements.

b) The Company did not have any long term contracts including derivative contracts for which there were any material foreseeable losses.

c) There were no amounts which were required to be transferred, to the Investor Education and Protection Fund bythe company.

d) 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 any other sources or kinds of funds) by the company to or in any other persons or entity(is), 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.

e) 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( is).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 Ultimate Beneficiaries and based on the audit procedures adopted by us .nothing has come to our notice that has caused us to believe that the representations made by the management under the sub clause (a) and (b) above,

Contain any material misstatement.

f) In Our opinion and according to the information and explanation given to us the remuneration paid by the company to its directors during the current year is in accordance with the provisions of section 197 of the Act. The remuneration paid to any director is not more than the limit laid down under section 197of the Act. The ministry of corporate affairs has not prescribed other details under Sectionl97(16) Which are required to be commented upon by us.

2. As required by the Companies (Auditors Report) Order, 2020 (“the Order”) issued by the Central Government 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.

ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT

Referring lo paragraph 1 under the heading ‘Report of Other Legal & Regulatory Requirement of our report of event date to the financial statements of IYKOT Hitech Toolroom Limited for the year ended March 31^st 2025:

1) (a) The company has maintained proper records showing full particulars,including quantitative details and the situation of property plant and equipments.There are no intangible assets held by the company.

(b) These property ,plant and equipment have been physically verified by the management in a phased manner, at regular interval, which in our opinion, is reasonable having regard to thesize of the company and nature of its business and no material discrepancies between the bookrecords and the physical fixed assets have been noticed.

(c) The company does not hold any immovable properties and hence clause (c) is not applicable.

(d) The Company have not revalued its Property, Plant and Equipments or intangible assets during theyear under review.

(e) The Company is not holding any Property, Plant and Equipments under benami names and noproceedings have been initiated during the year or are pending against the Company for holdingany benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rulesmade thereunder.

2) (a) Asinformed to us, the management has conducted physical verification of inventory

(includinginventory lying with third parties) at reasonable intervals during the year. In our opinion thecoverage and the procedure of such verification by the management is appropriate. Discrepanciesnoticed on such physical verification is less than 10% in aggregate for each class of inventory andhave been properly dealt with in the books of account. ^oc/^.

(b) The Company had not availed any working capital loans fiom banks during the year against thesecurity of the stock of inventories.

3) The Company has not granted any loans, secured or unsecured to companies, firms, LimitedLiability partnerships or other parties covered in the Register maintained under section 189 ofthe Act. Accordingly, the provisions of clause 3 (iii) (a) to (f) of the Order are not applicable to thcCompany and hence not commented upon.

4) In our opinion and according to the information and explanations given to us, the companyhas complied with the provisions of sections 185 and 186 of the Companies Act, 2013 in respectof loans, investments, guarantees, and security.

5) The Company has not accepted any deposits from the public and hence the directives issuedby the Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevantprovisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 about the depositsaccepted from the public are not applicable.

6) As informed to us, the maintenance of Cost Records has not been specified by the CentralGovemment under sub-section (1) of Section 148 of the Act, in respect of the activities carried on by the company.

7) (a) According to information and explanations given to us and based on our examination ofthe books of account, and records, the Company has been generally regular in depositingundisputed statutory dues including Provident Fund, Employees State Insurance, Income tax, Sales tax, Service Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any otherstatutory dues with the appropriate authorities. According to the information and explanationsgiven to us, no undisputed amounts payable in respect of the above were in arrears as at March 31, 2025, for more than six months from the date when they became payable. Accordingto the information and explanation given to us, there are no dues of income tax, sales tax, service tax, duty of customs, duty of excise, value added tax outstanding on account of ^anydispute-

(b) According to the information and explanations given to us and based on the records of theCompany examined by us, there are no dues of Income-Tax, Customs Duty, Sales Tax, Service Tax, Goods and Sendees Tax, Value Added Tax, Excise Duty and Cess which have not been deposited onaccount of any dispute.

8) In our opinion and according to the information and explanations given to us, there are notransactions unrecorded previously in the books of account that have been surrendered ordisclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 ofl961). Accordingly, the requirement to report on Clause 3(viii) of the Order does not apply to theCompany.

9) The Company has not defaulted in the repayment of dues to banks as it has not taken any loaneither from financial institutions or from the government and it has not issued any debentures.

10) Based upon the audit procedures performed and the information and explanations given by themanagement, the company has not raised money by way of an initial public offer or further public-offer including debt instruments and tenn Loans during the year.The company has not made any preferential allotment or private placement of shares or fully orpartially or optionally convertible debentures during the year under audit.Accordingly, the provisions of clause 3 (x)

(a) and 3(x) (b) of the Order do not apply to theCompany and hence are not commented upon.

11) (a) During our examination of books and records of the company, carried out in accordance withthe generally accepted audit procedures performed to report a true and fair view of thestandalone financial statements, to the best of our knowledge and belief and as per theinformation and explanations given by the Management and the representations obtained fromthe Management, no material fraud on the company by its officers or employees has beennoticed or reported during the year.

(b) There is no report under sub-section (12) of section 143 of the Companies Act filed by us in FormADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2020 with the CentralGovemment during the year. According to the information and explanations given to us and recordsverified by us, the Secretarial Auditors have not filed a report in Form ADT-4 prescribed under rulel3 of Companies (Audit and Auditors) Rules, 2020 with the Central

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(c) According to the information and explanations given to us and records verified by us, there are nowhistle-blower complaints received by the Company during the year.

12) In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of clause (xii) ofthe Order do not apply to the Company.

13) In our opinion and according to the infonnation and explanations given to us, based onverificalion of the records and approvals of the Audit Committee, the Company complies withSection 177 and Section 188 of the Act, where applicable, for all transactions with the relatedparties and the details of related party transactions have been disclosed in the Standalonefinancial statements as required by the applicable accounting standards.

14) (a) In our opinion and based on our examination, the Company has an internal audit systemcommensurate with the size and nature of its business.

(b) The internal audit reports of the Company issued till the date of this audit report, for the periodunder audit have been considered by us.

15) Based upon the audit procedures performed and the information and explanations given by themanagement, the company has not entered into any non-cash transactions with directors orpersons connected with him. Accordingly, the provisions of clause 3 (xv) of the Order do notapply to tire Company and hence not commented upon.

16) (a) In our opinion, and according to the infonnation and explanations given by the managementand verified by us, the company is not required to be registered under section 45 1A of theReserve Bank oflndia Act, 1934, Accordingly, the requirement to report under clause (xvi) of theOrder does not arise.

(b) The Company has not conducted any Non-Banking Financial or House Financing activities.

(c) The Company is not a core investment company as defined in the regulations made by theReserve Bank of India. Accordingly, the requirement to report under clause (xvi) of the Order doesnot arise.

17) The Company had incurred cash loss in the current year as well as in the immediately precedingfmancial year.

18) There is no resignation of the statutory auditor during the year under review. Accordingly, therequirement to report under clause 3 (xviii) of the Order does not arise.

19) According to the information and explanations given to us and based on the financial ratios, agingand expected dates of realization of financial assets and payment of financial liabilities, and otherinformation accompanying the financial statements together with our knowledge of the Board ofDirectors and management plans and based on our examination of the evidence supporting theassumptions, nothing has come to our attention, which causes us to believe that any materialuncertainty exists as on the date of the audit report that Company is not capable of meeting itsliabilities existing at tire date of the balance sheet as and when they fall due within one year fromthe balance sheet date. We, however, state that this is not an assurance as to the future viabilityof the Company. We further state that our reporting is based on the facts up to the date of theaudit report and we neither give any guarantee nor any assurance that all liabilities falling duewithin one year from the balance sheet date will get discharged by the Company as and whenthey fall due.

20) According to the information and explanations given to us, the provisions of Section 135 ofthe Companies Act, 2013 relating to Corporate Social Responsibility do not apply to thisCompany and hence not commented upon.

“Annexure B” to the Independent Auditors Report of even date on the Financial Statements ofM/s. lykot Hitech Toolroom Limited for the year ended March 31,2025

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

We have audited the internal financial controls over the financial reporting of M/s. lykot HitechToolroom Limited (“the Company”) as of March 31, 2025, in conjunction with our audit of the IndAS financial 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 financialcontrols based onthe internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note on Audit offntemal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountantsof India. These responsibilities include the design, implementation and maintenance of adequateintemal financial controls that were operating effectively for ensuring the orderly and efficienlconduct of its business, including adherence to companys policies, the safeguarding of its assets,the prevention and detection of frauds and errors, the accuracy and completeness of the accountingrecords, and the timely preparation of reliable financial information, as required under the CompaniesAct, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Noteon Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) and theStandards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of theCompanies Act, 2013, to the extent applicable to an audit of internal financial controls, bothapplicable lo an audit of Internal Financial Controls and, both issued by the Institute of CharteredAccountants of India. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established and maintained andif such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of theintemal financial controls system over financial reporting and their operating effectiveness. Our auditof internal financial controls over financial reporting included obtaining an understanding of intemalfinancial controls over financial reporting, assessing the risk that a material weakness exists, andtesting and evaluating the design and operating effectiveness of internal control based on theasscssed risk. The procedures selected depend on the auditors judgement, including theassessment of the risks of material misstatement of the financial statements, whether due tofraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our audit opinion on the Companys internal financial controls system over financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A companys internal financial control over financial reporting is a process designed to providereasonable assurance regarding the reliability of financial reporting and the preparation offlnancial statements for external purposes in accordance with generally accepted accountingprinciples. A companys internal financial control over financial reporting includes those policies andprocedures that (1) pertain to the maintenance of records that, in reasonable detail, accuratelyand fairly reflect the transactions and dispositions of the assets of the company; (2) providereasonable assurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receipts andexpenditurcs of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized acquisition, use, or disposition of the companysassets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, includingthe possibility of collusion or improper management override of controls, material misstatementsdue to error or fraud may occur and not be detected. Also, projections of any evaluation of theintemal financial controls over financial reporting to future periods are subject to the risk that theintemal financial control over financial reporting may become inadequate because of changes inconditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In my opinion, the Company has, in all material respects, an adequate internal financial control systemover financial reporting, and such internal financial controls over financial reporting were opevatingeffectively as at March 3 3, 2025, based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control as stated in theGuidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Instituteof Chartered Accountants of India.

For KGS &ASSOSIATES

Place: Chennai

Date: 22.05.2025