Kanco Tea & Industries Ltd Auditor Reports

The Companys Board of Director is responsible for the preparation of the other information. The other information comprises the information included in the Boards Report (Directors Report) including Annexures to Boards Report (Directors Report), Corporate Governance Report, Management Discussion and Analysis, Annual Return, Report on CSR Activities, but does not include the standalone Ind AS 3nancial statements and our auditors report thereon.

Our opinion on standalone Ind AS 3nancial 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 Ind AS 3nancial statements, our responsibility is to read the other information and, in doing so, consider whether such other information is materially inconsistent with the 3nan-cial statements or our knowledge in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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 Ind AS 3nancial statements that give a true and fair view of the 3nancial position, 3nancial performance, including other comprehensive income, changes in equity and cash 3ows of the Company in accordance with the accounting principles generally accepted in India including the Indian Accounting Standards (Ind AS) speci3ed 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 of 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 3nancial controls, that were operating e3ectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Ind AS 3nancial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone Ind AS 3nancial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Companys 3nancial reporting process.

Our objectives are to obtain reasonable assurance about whether the Standalone Ind AS 3nancial statements as a whole are free from material misstatements, 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 in3uence the economic decisions of users taken on the basis of this standalone Ind AS 3nancial statements.

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

Materiality is the magnitude of misstatements in the standalone 3nancial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the 3nancial statements may be in3uenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the e3ect of any identi3ed misstatements in the 3nancial statements.

We communicate with those charge with governance regarding, among other matters, the planned scope and timing of the audit and signi3cant audit 3nding, including any signi3cant de3ciencies in internal control that we identify during our audit.

We also provide those charges with governance with a statement that we have compiled 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 charges with governance, we determined those matters that were of most signi3cance in the audit of the standalone Ind AS 3nancial statements for the 3nancial year ended March 31, 2026 and are therefore no speci3c key audit matters. We described these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determined 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 bene3ts of such communication.

5.1 As required by Section 143(3) of the Act, based on our audit we report:

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 Balance Sheet, the Statement of Pro3t and Loss including Statement of Other Comprehensive Income, the Statement of Changes in Equity and the Statement of Cash Flow dealt with by this Report are in agreement with the relevant books of account;

d) In our opinion, the aforesaid Standalone Ind AS 3nancial statements comply with the Accounting Standards speci3ed under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rule, 2015, as amended;

e) On the basis of the written representations received from the directors, as on March 31, 2026, taken on record by the Board of Directors, none of the directors is disquali3ed as on March 31, 2026 from being appointed as a director in terms of Section 164(2) of the Act; f) With respect to the adequacy of the internal 3nancial controls over 3nancial reporting of the Company with reference to these standalone Ind AS 3nancial statements and the operating e3ectiveness of such controls, refer to our separate Report in "ANNEXURE – A" to this report. Our report expresses an unmodi3ed opinion on the adequacy and operating e3ectiveness of the Companys internal 3nancial controls over 3nancial reporting;

g) With respect to the other matters to be included in the Auditors Report in accordance with requirement of section 197(16) of the Act, as amended in our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act;

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

i) The Company has disclosed the impact of pending litigations on its 3nancial position in its 3nancial statements- refer note 36 of the 3nancial statements.

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

iii) There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

iv) a) The Management has represented that, to the best of its knowledge and belief, 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 recorded in writing or otherwise, that the Intermediary shall, :

• directly or indirectly lend or invest in other persons or entities identi3ed in any manner whatsoever by or on behalf of the Company ("Ultimate Bene3ciaries") or

• provide any guarantee, security or the like on behalf of the Ultimate Bene3ciaries;

b) The Management has represented, that, to the best of its 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 shall:

• directly or indirectly, lend or invest in other persons or entities identi3ed in any manner whatsoever by or on behalf of the funding party ("Ultimate Bene3ciaries") or

• provide any guarantee, security or the like on behalf of the Ultimate Bene3ciaries;

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.

d) The company has not declared any dividend during the year, so reporting under this clause for cmpliance with section 123 of the Companies Act, 2013 is not applicable.

e) Reporting on Audit Trails:

Based on our examination which included test checks, the company has used accounting software for maintaining its books of accounts 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 audit trail features being tampered with.

5.2 As required by the Companies (Auditors Report) Order, 2016 ("the Order"), as amended, issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "ANNEXURE- B", a statement on the matters speci3ed in paragraph 3 and 4 of the said Order.

Annexure "A" To The Independent Auditors Report Of Even Date On The Standalone Ind As Financial Statements of Kanco Tea & Industries Limited

Report on the Internal Financial Control under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act") - Referred to in paragraph 5.1(f) of our report of even date to the Standalone Ind AS 3nancial statements of the Company for the year ended March 31, 2026:

We have audited the internal 3nancial controls over 3nancial reporting of KANCO TEA & INDUSTRIES LIMITED ("the Company"), as of March 31, 2026, in conjunction with our audit of the Standalone Ind AS 3nancial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishing and maintaining internal 3nancial controls based on the internal control over 3nancial reporting criteria established by the Company considering the essential components of internal control stated in the guidance note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities includes the design, implementation and maintenance of adequate internal 3nancial controls that were operating e3ectively for ensuring the orderly and e3cient conduct of its business, including adherence to respective Companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable 3nancial information, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the internal 3nancial controls over 3nancial reporting of the Company based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants of India and the Standards on Auditing prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal 3nancial controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal 3nancial controls over 3nancial reporting was established and maintained and if such controls operated e3ec-tively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal 3nancial controls system over 3nancial reporting and their operating e3ectiveness. Our audit of internal 3nancial controls over 3nancial reporting included obtaining an understanding of internal 3nancial controls over 3nancial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating e3ectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the 3nancial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is su3cient and appropriate to provide a basis for our audit opinion on the internal 3nancial controls system over 3nancial reporting of the Company.

Meaning of Internal Financial Controls Over Financial Reporting

A companys internal 3nancial control over 3nancial reporting is a process designed to provide reasonable assurance regarding the reliability of 3nancial reporting and the preparation of 3nancial statements for external purposes in accordance with generally accepted accounting principles. A companys internal 3nancial control over 3nancial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly re3ect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of 3nancial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys assets that could have a material e3ect on the 3nancial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal 3nancial controls over 3nancial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal 3nancial controls over 3nancial reporting to future periods are subject to the risk that the internal 3nancial control over 3nancial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, to the based of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal 3nancial controls system over 3nancial reporting and such internal 3nancial controls over 3nancial reporting were operating e3ectively as at March 31, 2026, based on the internal control over 3nancial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

Annexure "B" to the Independent Auditors Report

Referred to in paragraph 5.2 under the heading of "Report on Other Legal and Regulatory Requirements" of our report of even date to the Standalone Ind AS 3nancial statements of the Company for the year ended March 31, 2026:

To the best of our information and according to the explanations provided to us by the Company and the books of account and records examined by us in the course of audit, we state that:

1. a) The Company has maintained proper records showing full particulars including, quantitative details and situation of Property, Plant and Equipment.

b) The Company has maintained proper records showing full particulars of intangible assets.

c) Property, Plant and Equipment have been physically veri3ed by the management at reasonable intervals. We have been informed that no material discrepancies were noticed on such veri3cation. The title deeds of immovable properties are held in the name of the Company except following:-

Note No 1 : The Company is the bene3cial owner since 01/03/2017 as per the Business Transfer Agreement executed with Ryam Commerce & Plantations Limited

Note No.2: The Company has applied for NOC for execution of conveyance deed on 05/06/2017 and the 3le is now with Deputy Secretary, Revenue & Disaster Management(s) Department, The Government of Assam, Assam Secretariat, Dispur

d) The Company has not revalued its Property, Plant and Equipment during the year ended 31st March, 2026. Hence the clause 3(i)(d) is not applicable during the year to the Company.

e) According to information and explanations given to us and on the basis of our examination of the records of the Company, there are no proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.

2. a) As explained to us, inventory has been physically veri3ed during the year by the management at reasonable intervals. In our opinion and according to the information and explanations given to us, the procedures of physical veri3cation of inventory followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business.

b) Inventory lying with third parties has been con3rmed by them as at 31st March, 2026 and no material discrepancies were noticed in respect of such con3rmations. No material discrepancy was noticed on physical veri3cation of stocks by the management as compared to book records.

c) The Company has been sanctioned working capital limits in excess of Rs. Five Crores in aggregate from banks and 3nancial Institution during the year and the quarterly returns or statements 3led by the company with such banks or 3nancial institutions are in agreement with the books of account of the Company;

a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not provided any guarantee to other entity on behalf of a company.

b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not provided any guarantee to others.

c) The Company has not granted any loans or advances in the nature of loans, secured or unsecured, to companies, 3rms, limited liability partnerships or any other parties during the year. Accordingly, provisions of clauses 3(iii)(c) to 3(iii)(f) of the Order are not applicable to the Company.

7. a) According to the records of the company, undisputed statutory dues including Provident Fund, Employees

State Insurance, Income-tax, Cess and Goods & Service Tax to the extent applicable and any other statutory dues have been regularly deposited with the appropriate authorities. According to the information and explanations given to us there were no outstanding statutory dues as on 31st of March, 2026 for a period of more than six months from the date they became payable.

b) According to the information and explanations given to us and on the basis of the documents and records the disputed statutory dues which have not been deposited with the appropriate authorities are as under:

9. a) Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of loans or borrowings to any bank during the year. Further, the Company does not have any debentures and loan from 3nancial institution or government.

b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not been declared a willful defaulter by any bank or 3nancial institution or government or government authority.

c) In our opinion and according to the information and explanations given to us by the management, no term loans were obtained during the year.

d) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that no funds raised on short-term basis have been used for long-term purposes by the company.

e) The Company has invested in a wholly owned subsidiary company. The Company does not have any associate or joint venture (as de3ned under Companies Act, 2013) during the year ended 31 March 2026.

f) According to the information and explanations given to us and procedures performed by us, we report that the company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies (as de3ned under the Act).

10. a) The Company has not raised any money by way of initial public o3er or further public o3er (including debt instruments) and term loans during the year;

b) According to the information and explanations give to us and based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.

11. a) Based on the audit procedures performed and the information and explanations given to us, we report that no fraud on or by the Company has been noticed or reported during the year, nor have we been informed of such case by the management.

b) According to the information and explanations given to us and based on our examination of the records of the Company, no report under sub-section (12) of section 143 of the Companies Act has been 3led by the auditors in form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

c) According to the information and explanations given to us and based on our examination of the records of the Company, no whistleblower complaints have been received by the company during the year.

12. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi

Company. Accordingly, paragraph 3(xii) of the Order is not applicable.

13. According to the information and explanations given to us and based on our examination of the records of the

Company, transactions with the related parties are in compliance with sections 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the 3nancial statements as required by the applicable accounting standards.

14. a) The company has an internal audit system commensurate with the size and nature of its business.

b) The reports of the internal auditors for the period under audit of the company was considered by us at the time of conducting statutory audit.

15. According to the information and explanations given to us and based on our examination of the records of the

Company, the Company has not entered into non-cash transactions with directors or persons connected with him.

16. a) The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.

Accordingly, clause 3(xvi)(a) of the Order is not applicable.

b) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act,1934. Accordingly, clause 3(xvi)(b) of the Order is not applicable.

c) The Company is not a Core Investment Company (CIC) as de3ned in the regulations made by the Reserve Bank of India. Accordingly, clause 3(xvi)(c) of the Order is not applicable.

d) According to the information and explanation given to us by the management, the Group has no CIC, which is required to be registered with the Reserve Bank of India.

17. According to the information and explanations given to us and based on our examination of the records of the Company, the Company has incurred cash losses in the Financial Year and in the immediately preceding 3nancial year.

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

19. On the basis of the 3nancial ratios, ageing and expected dates of realization of 3nancial assets and payment of

3nancial liabilities, other information accompanying the 3nancial statements and as informed by the Board of Directors, in our opinion, material uncertainty does not exist as on the date of the audit report and that company is 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.

20. According to the information and explanations given to us and based on our examination of the records of the Company, the company is not required to transfer unspent amount to a Fund speci3ed in Schedule VII to the Companies Act within a period of six months of the expiry of the 3nancial year in compliance with second proviso to sub-section (5) of section 135 of the said Act, in view of there being no ongoing projects during the year.

21. This being the Standalone Auditors Report, the clause no. 3 (xxi) of the order relating to reporting on Consolidated

Financial Statements for any quali3cations or adverse remarks by the respective auditors in the Companies (Auditors Report) Order (CARO) is not applicable to these 3nancial statements of the company.