Laxmi India Finance Ltd Auditor Reports

To

The Members of

Laxmi India Fmnncn Merited

(Formerly know n sis Laxm i India Finance Private Limitid)

Repor t on n the Audi t of the Finenci al Statements Opinin n

We have audited the accompnnyfog financial statements of Laxmilndia Finance LimitedhtheCompany), which comprise the Balance Sheet sis at March 31,2026 and the Statement of Profit and Loss (including Other Comprehensive Income), the Statxment of Changes in Equity and the Statement of Cash Flows for the year then ended, and noses to the financial statem ents including a summary of the material accounting policies and other explanatory information.

In our opinion and to the best of our information and accfriing to the explanations given to us, the aforesaid financial statem ents give the information required by the Companies Act, 2(013, ass amended (the Act) in the manner so required and give a true and fair view in conformity with the accounting principles generaliy accepted in Indfo, of the state oI affairs of the Company ass at March 31,2026, its profit focludfog other comprehensive loss, its cash flows and the changes in equity for the year ended on that date.

Basis fo r Op inion

We conducted our audit of the financial statem ents in accordance wifo the Standards on Auditing (SAs) specified under section 143110) of the Act. Our responsibilities under those Standtrds are further described in the Auditors Responsibilities for the Audit of the Financial Statements

section of our report. We are ieivpendent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAii) togefoer with the ethical requirements that are refovant to our audit of the financial statem ents under ihe provjsions of the Ac t and the Rules made thereunder, andwe have fulfilled our other ethical responsibilities in accordcnce with these requirements and the ICAFs Code of Ethics. We be!ieve that the audit wfoence obtafoed by us is sufficent and appropriate to provide a basis for our audit opinion on the finencial statements.

Key Aud it Mt a eters

Key aud it matters are those matters that, in our professional judgement, we re of most significance in our aud it of the financial statem ents for the ffonncial year ended Marc h 31, 20616. These m atters we re addressed in the context of ou r aud it of the financial stat^ mentsasa whole, aid in forming ou r opinion thereon, and we to not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in tha t context-

We have determ i ned the matters described below to be the key audit matters to be communicated in our report. We h ave fulfiHed the responsibiiities described in the Audito rs respfesibilities for the audit of the financial statem ents section of our repor t, focludfog in relarion to these matters. Accfrd i ngly, our audit included the performance of procedures Wvs i geed to respfeW to our assemsm ent of the risks of material misstate ment of the finenc i al statements. The resu!ts of our audit procedures, focludfog the procedures performed to address the matters befow, provide the basis for our audit opinion on the cccmnapanying financial statements.

S. No.	Kei Audit Matters	How our audit addressed the kei audit matter
1	Imparrment of loans as at thee balance sheet date (expected credit losses (ECL) As deccrib ed in Note 2 (C) of the financ ial statem ents
	In assessing the ixlpairme nt of financ ial loan s under expected credit loss (ECL) model, the aseets have been segxented into three stages. The three stages reflect the general pattern of credit deterioration of a financial instrument:- The differences in accounting between stages, relate to the rdaognition of expected credit losses and the ment of interest income. Determi nation of probability of defau lts (PD) and loss given defaults (LGD) based on thee default hist^orit/ of loans, subsequent recoveries made and other relevant factors. The company has appieed diffenent provisioning rates for LAP and nonLAP cases based on the ir respective bucket classifications.	Wee have examined the policies approved bi the Board of Dfectors of the Company that crticuiate the objectives of managing each portfolio and their business model We have also verified thee methodology adopeed for aomputaAion of ECL (ECL Model) that addresses policies approved bi the Board of Director, procedures and controls for assessing and measuging creel it risk on all lending exposures.

Ohher Info^ ¦ metion

The Companys Boarcl of Drrectors is responsible for the other information.The otter information comprises the information included in the management discussion and analysis and BoarcTs report, bu t does not include the financial statem ents and our audito rs report thereo n.

Ou r opinion o n the finandal statem ents does neat cover the other informatfon and we do neat express cny form of assurance condusion thereo n.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whefoer such other information is materially incon eistent with the financial statem ents o r our knowledge obtafoed in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we condude that there is a material misstatement of this other ieformation, we are required to report that fact. We have efthing to report in this regard.

Rvspfns F bilirSes of Mcnagxment and Those Charged wit h the Mcnagxme nt fo r the Finenci al Statements

The Companys Boarcl of Directors is retpfetble for the matters stated fo section 134(5) of the Actt with respect to the preparatfon of these financial statem ents tha t ghee a trne and faf view of the financial position, financial performanee focludfog other cfmprehessive income, cash flows and changes in egrety of the Company fo accordance with the accounting principles generaliy accepted in India, focludfog the Indian Accounring Standwrcls (Ind AS) specified under section 133 of the Act read with the Companies (Indian Accounring Standards) Rules, 2015, ass amnnded. This responsibility also includes maintenance of adequate accounting records in accordcnce with the provisions of the Act for safeguardfog of the assets of the Company and for preventfog and detecting frauds and other irregularities; sefoction and appifoation of appropriate accounting pdfoies; making judgemnnts and estimates tha t are reasonable and prudent; and the design, implementation and m afotenance of adequate internal nnan cial controls, fo at were openating effectively for ensuring the accu racy and completeness of ohe accounting records, refovant to the preparation and presentation ofthefinancial statements than give a trne and fair view and are free from material misstatement, whether due to fraud o r error.

In preparing the financial statements, manggennent is

responsible for assessing the Companys ability to continue as a going concern, disclosing, ass appiccable, matters related to going concern and using the going concern basis of naaounting unless manggement either intends to liquidate the Company or to cease operations, or has no realistic alternarive bu t to do so.

The Board of Directors are also respfnsibfo for overseeing the Companys financial reporting process.

Audito rs RvsponsibiNties fo r the Audi t of the Finenci al Statem ent s

Our objectives are to obtain reasonable assurance about wheth er the financial statem ents as a whole are free from material misstatement, whefo er due to fraud o r erro r, and to issu e an audito rs repp that includes ou r opinion. Reasonable assurance is a high level of assurance, but is not n guarantee tha t an aud it conducted in accordance with SAs will nlwn>^s detect a material misctatement when it exists. Misstatem ents can ariee from fraud or error and are consfoered material if, individually o r in the aggregate, the y could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with SAs, we exercise professional judgement viaA maintain professfonal skvpricisx through out the audit. We also:

* Identify and assess the risks of material misstatement of the financial statements, whefo er due to fraud o r erro r, Wvs i gn and performaudit procedures responsive to those risks, and obtafo aud it evidence that f s suffice nt and appropriate to provide a basis for our opfoion. The risk of no t detectfog a material misstate ment resulting from fraud fo higher than for one resulring from error, ass fraud may invoive collusion, forgery, intentional omissions, mforepreseatario ns, o r the override of intern al conorol.

* Obtain an understandfog of intern al f 7 ! n n n c i a l conorols refovant to the audit in orde r to design aud it procedures that are appropriate in the circumstances. Under section 14333) of the Act, wee are also responsible for expressfo g our opinion on whether the Company has sdequate intern al financial conffols with reference to fii n n n c i al statem ents in place and the operating effectiveness of such conoro ls.

* Evaluate the appropriaten ess of accounting po lfoies used and the reasonabfoness of naaounting esmmates and related disclosures made bi management.

* Conclude on the appropriateness of managements us e of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertain ty exists related to events o r conditions that may cast significant doubt on the Companys ability to continue ass a going concern. If we conulude that a material uncertainty exists, we are required to draw attention in our auditors report to the rented disclosures in the financial statements err, if such disclosures are inadequate, to mod^y our opinion. Our condussons are based on the audit evidence obtained up to the date of oua auditors repor t. However, future events o r conditions many cause the Company to cease to continue ass a (going concern.

* Evaluate the overall presentation, structure and content of the statements, including the discloumres, and wheth er the finnncial statem ents represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timigg of the audit and significant audit findings including any significant defidencies in internal control that we identily during our audit.

We also provide those charged with governance with a statement that we have complied with re!evant ethical rtquirements regarding independecce, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, rented safeguards.

From the matters communicated with those charged with governence, w e determine those matters tha t were of mo st significance in the audit of the financial statem ents for the financial year ended March 31, 2026 and tire therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public ^closure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report becuuse the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Repot t o n Ohher Legal and Reguiaoory Rtquinumen ts 1. As required by the Companies (Auditors Report) Order, 20)20 (the Order), issued by the Central Government of India in terms of sub-section (11) of section 143 of

the Act, we give in the Annexure A a statem ent on the matters specified in paragraphs 3 and 4 of the Odder to the exte nt applicable.

2. As requred by Sect don 143(3!) of the Act, w e repor t, to the exte nt applicable,that:

a. We have sought and obtaened all the information and explanations which to tine eest of our knowledge and bealief were necessary for the purposes of our audit.

b. In our opinion, proper books oo account as required by/ law have been kept oy the Companyso fa a a s it appears pom our examination ofthose books.

c. The Ba!ance Sheet, the Statement of Profit and Loss (indlding Other Comprehensive Income), the Cash Flow Statement and Statement of Changes in Equity dealt with by this Report are in ageeement with the books of account.

d. In our opinion, the aforesaid financial statements comply with the Accounting Standards specified cnder Secpon133 of the Act, read with Companies (Indian Accounning Standards) Rules, 2015, ass amended.

e. On the basis of the written represeatations received from the Cirectors as on Marhh 31, 20)26 taken on record by the Boadd of Directors, none of the directors is disqualified a s on March 31, 20)26 from being appointed ass a direc tor in terms of Secdon 164 (2) o etce Act.

f With respect to the adequacy of the internal financial

condols with reeerence to these financial statem ents and the operaning effectiveness of such controls, refer to our separate Report in Annexure B to this report;

g. In our opinion, the managerial remuneration for the year ended March 31,20)26 has been paid / provided by the Comptrny to its Cirectors in accordcnce with the provisions of section 19)7 read with Schedule V to the Act;

h. With respect to the other matters to be included in the Audito rs Report in accordance with Rufo 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 dssclosed the impact of pending litigations on its financial position in its finnncial statem ents - Refer Note 4-7 to the finnncial statements.

ii. The Company did root have any long-term contract including derivative conffacts forwhfoh there we re any material foreseeable losses; and

ii. There we re no amounts which are requrr^d to be transferred, to the Invertor Eduaation and Protection Funn by the company

iv. a) The management has represented that:, to the best of its know ledge and bellei, no funds have bfen advanced or loaned o r invested (either rrom borrowed fonds or share premium or any other sources o r oind offunis) by the Company to or in any other persons orentities, including foreign entities (Intermediaries ), with the lnterstanding, wheth er recorded in writin g o r otherwise, that the Intermediary shall, whethe r, directly o r indrr^ctly lend o r invest in other persons o r entities identffied in any man ner whatsoever by or on behalf of the company (Ultimate Beneficiaeies) o r provide any guam^e e, searnty o r the like on beha lf of the Ultimate Beneficiaries; Refer Note No. 42 to the financial statements.

b) The management has represented that, to the best of its knowledge and befief, no funds have been received by the Company from any person(s) o r tatiny(its), including

foreign entities (Funding Parties ), with the understanding, wheth er recorded in writing or otherwise, that the Company shall, whether, directly o r indrr^ctly/, lend o r invest in other persons o r entities identffied in any man ner whaosoever by or on behalf of the Funding Party (Ultimate Beneficiaeies) o r provide any guarante e, security o r the like on beha lf ofthe Ultimate Beneficiaries. Refer note No. 42 to the financial statements.

c) Based on such aud it procedures performed that have been consedered reasonable and appoopriate in the circmn^stances, nothing has come to our notice that has caueed us to believe that the repeesentations under sub-clause (iv) (a) and (iv) (b) contain any material misstatement.

v. The Company has neither declared nor pad any dMdends during the year unier audit

vi. Based on our exmmination on test check basis and on verfffoanion of SOC 2 repo rt from Sevvfoe Providers Auditor, the Company has used accounting software for maintaining its books of account which has a feature of recording aud it trail (edit tog) facility and the same has (paraded throughuut the year for all refovant transactions recorded in the software.

Based on the information and explanation made available to us, the audit trail has been preserved by the company as per the statutory requirements for record retention for thee financial yea r ended March 31,2026.

Place: Jaipur Date: 13th May 2026

For S.C Bapna & Assoda tes
Chartiered /Accountants
Firms Regn. No.115649W
Deepiaa Nalwaya
Partner
Membership No. 407184
UDIN: 26407184UVUYCC5399

Referred to in paragraph 1 under the heading Report on Other Legal and Regulatory Requirements of our report of even date to the Members of Laxmi India Finance Limited (Formerly known as LaxmiIndia Finance PrivateLimited) for the yea r ended Marc h 31,2026.

In terms of the information and explanations sought by us and given by the Company and the books of account and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that:

1. In respect of the Companys Property, Plant and Equipment and Intangible Assets:

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

(2) The Company has maintained proper records showing full particulars of Intangible assets.

b) According to the information and explanation given to us, all these property, plant and equipment are physically verified by the manggement periodically which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. As per manggeme nt, no material discrepancies were noticed on such verification.

c) Based on our examination of the registered sale deed / transfer deed / conveyance deed provided to us,we report that the title of all the immovable properties disclosed in the financial statements (Other than properties where the company is a lessee & the lease agreement is duly exeuuted in favour of the lessee)

i

Description of property	Enrrying value Rs. In Lacs	Held in ma me of	Period held	Reason fo r not being held m tehee pame of company
1st:, 2nd & 3rd Floor, Plot ho.2 DFL, Gopinahh Marg, MI Road Jaipur	26.98	Mr. Deepak Bald (Managing Dieector of the Company)	Sinc e 01/04/2011	Property was being used for carrying on the business by Mr. Deepak Badd ass a proprietor firm, but t in April 01, 2011, firm converted into company and all fixed asset of the firm vest in Laxmi India Finance Limited. The Company has informed that, tehee Company is in poocess for taansfer tehee title in its 0)1X1 e.

Note: Certain immovable properties are held in the former name of the Company i.e. Laxmi India Finleasecap Private Limited / Laxmi India Finance Private Limited and the transfer in the new name is yet to be initiated.

d) The Company has not revalued any of its Property, Plan t and Equipmen t o r intangible asse ts during the year. Accordingly, the provisions of clause 3(i)(d) of the Ordee are not appficable;

e) There are no proceedings tha t have been initiated during the year or are pending against the Company as at March 31,20)26 for holdfog annbenami property under the Benami Transactions (Prohibitfon) Act, 19588 (as ameneed) and rules made thereunder.

2. a) The Companys business does no t involve inventories and, accordingly, ths requirements, under clause t (ii) (a) of the Order is not appficable to the Company and hence no t commen ted upon.

b) According to the information and explanations given by the management and audit procedure performed by us, the Compayy has been sanctfoned working capital limits in excess of Rs. 5 coores, in aggregate, from banks or financial institutions on the basis of security ofcurrst assets, and the statements filed s the Company with such ban! or financial institutions are in agreeme nt with th e bookso f account o f th e Company;

3. The Company has made investment and no audrrtneee has been provided and principal business ofthe company is lending loans, the required inforamation is ass under :

a) The Company is engaged in principal business of lending loans, hence repcarting under dfuseOiiXa) is no t fppficfble.

b) In our opinion, during the year, the investm ents made, security given and the terms and condfoon of the grant of all loans and advnnces in the nature of loans are prima fade, not prejucficial to the Companys intere st.

c) In respect of loans granted by the Company ass patt of its business of providing loans, the schedule of repayment of principal and payment of interest has been stipulated by the company. Havig regard to the vofominous nature of loan transactions, it is not practicable to furnish entity wise details of amount, due date for repayment or receipt and thee extent of delay (as suggested in the (Guidance Note on CARO 20120, issued by tse Institute oF Chartered Accountants of India for reporting under tha is clause)), in respect of loans and advnnces which were not repaid / paid when they we re due o r were repaid / raid with d delay,in tin normal course of lending business. iurther, except finr 9449 loans having principal amount outstanding of Rs. 107626.82 lakh and overdue a mount of Rs. 1928.69 lakh ass at March 31, 2026 where there are delays or defoults in repayme nt of principa l and / o r interest as at tehee balance sheet date, the parties are repaying tehee principal amounts, as stipulated, and are also regular in payment of interest, ass appficable.

d) In respect of loans and advances in tehee nature of loans, the total principal amount of cases which are overdue for mo re than ninety days as at March 31, 2026 is Rs. 2435.46 lakh and the number of such loans are 6423. In such instances, in our opinion, reasonable steps have been taken by tehee Company for recovery of the overdue amount of principall and intere st.

e) The Company is engaged in principal l business of lending loans, hence reporting under clause 3(ifi)(e) of the Order is no t fppficalole to tehee compa ny.

f) The Company has not granted any loans or advances fo the nature of loans eitheer repfyfble on demand or without specifying any terns or period of repayment during the year, to compaeie s, firms, Limited Liability Partnerships or any otheer parties. Accordingly, tehee requfirement to report on dause 3(ifi)ff) of the Order is no t aploccable to the Compayy.

4. In our opinion and according to the information and explanatians given to us, there are no loans, investments, guarantees, and security in respect of which provisions of sections 185 and 186 of the Companies Act are fppficalole and hence no t commen ted upon.

55. The Company has neither accepted any depostts from tehee public nor accepted any amounts which are deemed to be deposits within the meaning of Sections 73 to 76 ofthe Companies Act and thee Companies (Acceptance of Deposits) Rules, 2014 (as amended), to the exte nt fppficalole. Accordingly, the requirement to report on clause 3(v) of tehee Order is net t fppficalole to the compa ny.

6. The Company is not in the business of sale of any goods or provision of such services ass prescribed. Accordingly, the requirement to report can dause 3(vfi of the Order is not appficable to the Company.

7. In respec t of statute) ry dues:

a) Based upon tehee audit procedures performed and the information & explanations given by tehee management, tehee Company has generaHy been regular in deposfong undisputed statutory dues, including Goods and Semces tax, Provide nt Fund, EmployeesStnte Insurance, Incom e Tax, Cess and any othes statutory dues so the appropriate authorities, as fppficalole to the compa ny, though there has been a slight delay in a few cases. Thee provisions relating to sa!es tax, service tax, duty of customs, duty of excise, value added tax and cess are neat fppficalole to tehee Company.

b) 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 yea r end, for a period of more than six months from the date they becam e payable.

c) The dues of goods and service tax, provident fund, employees state insurance, income tax and other statutory dues as applicable to the Company, which have not been deposited ass on March 31, 20216, on account of any dispute, are ass follow s:

Name of Statutory Due	Nature off Diee	O/s Amount excep t Interest (Rs. In Lacs )	Period to ohlijch su m relates	Forum where dispute is pendigg
Incom e Tax Act, 1961	Income Tax	6.38	AY 2013-14	ACIT, kolkata
Incom e Tax Act, 1961	Income Tax	8.65	AY 2(220-21	Join t Commissroner (Appeas)
Incom e Tax Act, 1961	Income Tax	1582.25	AY 2015-16	Join t Commissroner (Appeas)

8. The Company has neat surrendered or disclosed any transaction, previously unrecorded in the books of account, in the tax asseasments under the Incmme Tax Act, 1961 as inco me during the year. Accordingly, the requirement to report on clause 3(viii) of the Order is not applicable to the Company.

9. a) According to the records of the company examined

by us and as per the information and explanations given to us, the company has not defaulted in repayme nt of loans o r other borrowings o r in the payment of iMerest thereon to any lender.

b) According to the records of the company examined by us and as pe r the information and explanations given to us, the Company has not been declared willful defaulter by any bank or financial institution or other lende r.

c) According to the records of the company examined by us and as per the information and explanations given to us, term loan s we re appiied for the purpo se for which the loans were obtained, other than temporary depfoyment pending applfoation of proceeds.

d) Accordfag to the records of the company examined by us and as per the information and explanations given to us, on an overall examination of the financial statements of the Compayy, no funds raised on short-term basis have been utilized for long-term purposes during the year by/ the Company.

e) The Company does not have any subsidiary,associate or joint venture. Accordingly, the requirmment to report on dause 30xfoe) of the Order is ratat appifoable to the Company.

f) The Company does not have any subsidiary,associate o r join t ventu re. Accordingly, the requirement to report on Clause 3(ix)(f) otthe Order is not appifoable to the Company.

10. a) According to the information and explanations given to us and based on the audit procedures performed, the Company has applied the monies raised by way of Initial Public Offe r (IPO) during the yea r for the purposes for which such monies were raised, ass state d in the prosptctusfoffer douuments.

b) The Company has fully utiHsed the proceeds rassed through Initial Publfo Offer (IPO)) during the year towards tse purposes for which the sam e we re rassed. Based on our examination of the refovant records and according to the information and explanations provided to us, no deviation in utfasation of IPO proceeds has been notfoed.

c) According to the information and expianations given to us, the Company has not made preferential alfotment or private placement of shares or fuHy or partially or optfonaHy convertible debenmres during the year. Accordingly, the reporting under dause 3(x) (b) of the Oder is not appifoable to the Company

11. a) To the best of our knowfadge, no material fraud on

the Company and no fraud by the Company has been noticed o r reported during the year.

b) No report under sub-section (12)) of section 143 of the Companies Act, 20)13 has been fifad by secretarial auditor or by/ ppedecessor auditor or by us in Form ADT-4 ass prescribed under rule 13 of Companies (Audit and Auditors) Ru!es, 2014 with the Central Government, during the yearand up to the date tf this report.

c) According to the information and explanations given to us, ass represented to us by the manggement, no whistle b!ower complaints has been received by the Company during the year. Therefore, the provisions of dause 3(xl)(c) of the Odder are not applfoable to the Company;

12. In our opinion, the Company is neat a Nidhi Company. Therefore, the prcivis i ons of clause 3(xii) of the Order are not applfoable to the Company and hence not commen ted upon.

13. According to the informatfon and explanations given by the manggement and audit y rocredures performed by us, taansactions with the refated parties are in compliance with Section 177 and 188 of the Companies Act, 2(013 and the details of such rented patty taansactions have been disclosed in the financial statements, as required by the appifoable accounting standdrds.

14. a) In our opinion the Company has an adequate

internal audit system commensurate with the size and the nature of its business.

b) We have considered; the intern al audit reposts of the Company issued till date of the audit report, for the period under audit.

15. According to the information and explanations given by the manggeme nt, and audit procedures performed by us, the Company has not entered into any non-cash taansactions with its drrectors or persons connected with its directors, and hence provisions of sectfon 192 of the Companies Act, 2013 are not appifoable to the Company. Accordingly, the reqterement to report on clause 3(xv) of

the Orcler is not appifoable to the Company.

16. a) The company is teetered and obtafoed the

registrafion under section 45-IA of the Reserve Bank of I ndia Act, 19314 (2 of 1934);

b) Tine company has not conducted Non-Banking Financial aevivsties without a valid Certificate of Registration (CoR) from the Reserve Bank of India as per the Reserve Bank of India Act, 1 <9314. Accordingly, the reqterement to report under dause 3 (xvi)(b) of the Order is no t appifoable.

c) As per information & explanation given to us, the company is not a core investment company as defined in the regulatfons mad e by eeserve Bank of India. Accordingly, the requirement to report under clause 3 (xvi)(c) of the Order is not applfoabfai

d) According to the information and exPlanatfons green by the manggement to us, the Group does not have any Coro Invemtment Company ass part of the Group; Accordingly, the requirement to report under clause 3 (xvi)(d) oftheorder is not applicable

17. The Company has not incumed cash losses during the finandal yea! covered by ou r audit dnd in the immediately preceding financial year and accordingly reqterement to report on Clause 3(xvn) otthe odder is not applicable to the compan y.

133. There has been no resignation of the statutory auditors of the Company during the year and accordingly requirement to report on ilause 3(xvni) of the order is not applfoable to the company.

19. On the basis of the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statem ents and our knowfadge of the Boarcl of Drrectors and Management plans and based on our examination of the evidence supporting tine assumptions, nothfag has come to our attentfan, whfoh causes us to be!ieve that any material uncettainty exists ass on the date of the aud y t report indicating that Company is not capable of meening its liabiHties existing at the date of balance sheet ass and when they fall due within a period

of on e yea r from the balance shee t date. We, howeve r, 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 w e neither, give any guarantee no r any assurance tha t all liabilities falling due with in a period of one yea r from the balance sheet date;, will get discharged by the Company as and when they falldue.

20. a) There are no unspent amounts towards Corporate Social Responsibility (CSR) pursuant to any ongoing projects requiring a transfer to a Fund specified in Schedule VII to the companies Act in compliance with second proviso to sub section 5 of section 135 of the Act.

b) According to the information and explanations given to us and based on our examination of the records of the company, there are no unspent amounts that are required to be transferred to a special account in complianee of provisio n under sub section 5 of section 135 of the Act purauant to any ongoing CSR projevts.

21. The Company doesnt have any subsidiary/, Associate or Joint Venture. Accordingly, the requirement to report under clause 3(xxi) of the Order is not appiicable to the company.

Place: Jaipur Date: I 3th May,2026

For S.C Bapna & Associates
ChartesedAjcouttunts
Firms Regn. No.115649W
Dnnpiaa Nalwaya
Partrer
Membe^liip No. 4(07184
UDIN: 26407184UVUYCC5399

Reeerred to in Paragaaph 2(f) under the heading Report o n o ther Legal & regulatory Requiramen ts too the Independent auditors Report o f even date o n the Financial Statement o f Laxmi India Finance Ltd. forr the yearended 31st March 2026

Report on thee Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of thee Comannies Act, 2013 (tiee Act)

We have audited the internal financial consols over financial reporting of Laxmi India Finance Limited (Formerly known as Laxmi India Private Limited) (the Company ), as cel 7 31 March 20)26 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Mananaments ^^sp^nsisikityty for Internal Finnncial Corots

The Companys Management is responsible for establishing and maintaining internal financial contiols based on the internal contiol over financial reporting criteria established by the company considering the essential components of intern al contiol stated in the Guidance Note on Aud it of Intern al Financial Contiols over Finanoial Reporting issued by the Institute of Chaitnred Accountants of India (ICAI). These responsibilities include the design, implementation and mafetenance of adnquate intern al finnncial controls tha t we re operating effectively for enuuring the orderly and efficient conduct of its business, including adherence to the companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accucacy and cfmplettness of the accounting recods, and the timely preparation of rniiable fiinnncial information, ass required under the Companies Act, 2013 3.

Audoto rs Rnsptnsibility

Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on ou r audit. We conducted our aud it in accordance with the Guidance Note on Aud it of Intern al Financial Contiols Ove r Financial Reporting (the Guidance Note) issued by the ICAI and the Standarcls on Audtting, issued by ICA I and deemed to be prescribed under section 14311(0) of the Companies Act, 2013, to the extent appifeable to an audit of internal finnncial controls, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and

plan and perform the audit to obtain reasonable assurance about wheth er adequate intern al fii n n n c i a l contiols over financial reporting was establish ed and maintained and if such contiols operated effectively in all material respects.

Ou r audit invokes performing prtcnduies to obtain aud it evidence about the adequacy of the internal fiinnncial contiols system over finincial reporting and their operating effectiveness. Ou r aud it of internal financial controls over financial reporting included obtaining an understanding of internal finincial contiols over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal contiol based on the assessed risk. The procedures selected depend on the auditors judgement, including the assemsment of the risks of material misatatement of the financial statements, wheth er due to fraud o r eoro rs.

Wee be;lieve that the audit evidence we have obtafeed is suffice nt and appropriate to provide a basis for our aud it opinion on the Companys intern al financial controls system over finaacial reaorting.

Meaning of Intinmal Financial Contiols O ver Finmcdal Rnportin g

A companys internal financial control over financial reporting is a process dnsintnd to provide reasonable assurance regarding the rnliability of financial reporting and the preparation of financial statem ents for external purposes in accordance with nnaerally accepted accounting principles. A companys internal financial control over financial reporting includes those poficies and procedures that:

(1) Pertain to the mafetenance of records that, In reasonable detail, accurate!y and fairly reflect the transactions and dispositions of the assets of the compa ny;

(2) Provide reasonable assurance that transactions are recorded ass necessary to permit preparation of finnncial statem ents in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authoaizations of manggement and dijectors of the company; and

(3) Provide reasonable assurance regarding prevention orr timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material nffec t on the financial statem ents

Inhere nt Limitation of Intern al Financial Controls Over Financial Reporting with reference to these Financial Statements

Because of the inhere nt limitations of ineern al financial controls over financial reporting, including the possibility of collusion o r improper management overri de of controls, material misstatements due to error or fraud may occur rnd not be detected. Also, projections of rny evaluation of the intern al financial controls over financial reporting to future periods are subject to the risk tha t the intern al financial control over financial reporting may become inadequate because of chan ges in conditio ns, or that the degree ofcomplie nee with

the policies o r procedures may deteriora te.

Opinion

In ou r opinion, the Company hrs, in rll material respects, an ad equate iniernal financial consols system over financial reporting rnd sach intern al finnncial controls over financial reporting we re operating effectively as at March 31, 2026, bosed on the internal control over finnncial reporting criteria established by the Company considering the essential components of ineern al contiol staee d in the Guidance Note on Aud it of Intern al Financial Conttols Ove r Financial Reporting issued by the Institute of Chartered Accountants of India.

Place: Jaipur Date: 13th May, 20026

For S.C Bapna & Associa1:e s
Chattdted Accountants
Firms Regn. No.115649W
Dddpira Nalwaya
Partner
Mtxbership No. 4(77184
UDIN: 26407184UVUYCC5399

Inde peneent Audito rs Report on the Audided Anacu al Finranc ial Resul ts fo r the yea r ended MCarc h 311, 2026 of Laxm i India Finaece Limited (Formerly knoown as Laxmi India Finaece Prirtete Limieed) purarant to Reguiatien 33 and 52 of the Seaimties and Exchange Board of India (Listiag Obligations and ^ss^^^ieures Requirements) Regaiatinns, 2015 (as amended).

To the Board of Directors of

Laxmi India Fmaece Lirmted

Opinion

1. We have audited the accompanying annual financial results of Laxmi India Finance Limited (the Company) for the year ended March 31, 20266, (the Statement) attached herewith, being submitted by the Company pursaant to the requirements of Regulation 33 and 52 of the Securities and Exchange Board of India (the SEBIO (Listing ObHgatioss and Disclosure Regairements) Ree ulatlons,2C) s 5, ass amend ed (the Listing Regulations).

2. In our opinion and to thee best of our information and rcctrding to the explanations given to us, the Statement:

2.1. Presen ts Financial Resets in accordance with the requirements of Regulation 33 and 52 of the Listing Regulations, and

2.2. Gives a true and fare viow in conformity with the recognition and measure ment principles laid dow n in the appHcable Indian Accounting Standnrds (ind AS) under section 133 of the Companies Act, 2013 (the Act), read with the Companies (Indian Assouneng Standards) Rules, 2015, the re!evant circulars, guidelines and dtteaettions issued by the Reserve Bank of India (RBI) from time to time (RBI Gaidelines) and dther accounting principles generally accepted in India, of the ne t profit and other ctmprehersive income and other financial information tor the year ended March 31,20126.

Basi s fo r Oplnon n

3. We conducted our audit in accordance with the Standdrds on Aud^ing (SAs) specified under section 142S110) of the Companies Act, 2013 (thee Act). Our relptnlibilities under those SAs are further described in theAuditors Resporribilities forthe Aud it ofthe Finandal Results 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 ethical requerements that are re!evant to our audit of the statement under the provisions of the Act and the ru!es thereander, and we have fulfiMed our other ethical responsibilities in accordcnce with these requirements and the Code of Ethics. We be!ieve tha t the audit evidence obtafoed by us is suffice nt and appropriate to provide a basis for our opinion.

Board of Deedors Rerponsibilities for the Finnicial

Resu! ts

4. This Statement has been prepared on the basis of the annual audited financial statements and has been approved by the Companys Boarcl of Direectcars. The Companys Board of Dfiectors are relptnlibie for the preparation and presentation of the Statement that gives a tme and farr view of the net profit after tax and other comprehensive income and other finencial ieformation, in acrcordcnce with the recognition and measure ment prindples laid dow n in Ind AS prescribed under section 133 of the Act, read with the Companies (fodian Accounting Standards) Rules, 2015, RBI Guide!ines and other accounting principles generally accepted in India, and in complianee with Regulation 33 and 52 of the Listing Regulations. This responsibility also includes mafotenance of adequate accounting records in accordance with the provisinns of the Act for lrfegurrciing of the assets of the Con^ayy and for preventing and detecting frauds and otieer irregularities; relectfon and application of appropriate accounting poLcies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate intern al financial conttols tha t we re operating effectively for ersuriag the accuca cy and ctmpleteters of the accounting recodss, re!evant to the preparation and presentation of the Statement that gives a tme and fair veew and is free from material mirstarement, whether due to fraud or error.

5. In preparing the Statement, the Board of Directors are responsible for assessing the Companys ability to continue ass a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

Auditors Responsibilities for the Audit of the Financial

Resslts

7. Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatem ent, w hether due to frau d o r erro r, an d to issue an audito rs report tha t includes our opinion. Reasonable assurance is a high level of asuurance, but is not a guarantee tha t an aud it conducted in accordcnce with SAs, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are consedered material if individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

8. As part of an audit in accordcnce with the SAs eve exercise professionalaudgmentrnd maintain professional skepticism throughuut the audit We also:

8.1. Identifyand assess the risks oomaterial misstatement of the Statement, wheth er due to fraud o r erro r, design and perform audit prscedures responsive to those ri sics, and obtain andit eviddnce that tssufficient 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 invoke collusion, forgery, intentfenal omissions, missepresenSat ons, or the override of tnter nal control.

81.12. Obtain an understanding of internal conorol re!evant 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 responsitlle

for expeessig g our opinion through separate report on the complete set of financial statements on wheth er the Company has in place an adequate intern al financial control with reference to financial statem ents in place and the operating effectiveness of such contro ls.

8(.3. Evaluate the appropriateness of accountfeg

policies used and the reasonabfeness of accountfeg estimates and rented disclosures made by the Board o f Directo rs.

81.4. Conclude on the appropriateness of the

Management and the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obaained, wheth er a material uncertainty exists related to events or conditions t h at may cast significa nt doubt on the Companys ability to continue as a going concern. If w c conclude that amaterial uncertainty exists, eve are required to draw attention in our auditors report to thh related disclosures in the Statementor,if such dd^closures are inadequate, to modify ouropinion. Our conclusions are based on the au1 it evidenceoboafeed up to the date of our auditors report. However, future events or conditions may cause the Company to cease to contfeue ass a going concern.

8.5. Evafeate the overall presentation, structure and content of the Statement, including the disclouures, and wheth er the Statement represen ts the underlying transactions and events in a man ner that achieves fair presentation.

9. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the aud it and significant aud it findings, including any significant defidencies in intern al conorol tha t w e feentifyduring ou r audit.

10. We also provide those charged with governance with a statement that we have complied with re!evant 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 appficable, rented safeguards.

Otter Matters

11. The Statement includes the Finandal Results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of the full finencial year ended March 31, 2(026 and the pubiished unaud f ted year-to-date figures up to the third quarter of the current financial year, which were subject to limited review by us.

12. The Statement dealt with by this report have been

prepared for the express purpose of filing with Bombay Stock Exchange (BSE( and Nation al Stock Exchange o India Ltd. (NSE). This statem ent is based on and shoulc be read with the Audited Financial Statements of the Company, for the year ended March 31,20)26 on which we have issued an unmod ( fied aud it opinion vide oui report date d May 13, 220226.

Our opinion on the Statement is not modified in respect o

these matters.

Place: Jaipur Date: 13th May, 202 6

For S.C Bapn a & AASociates
Chartered /Accountants
Firms Rep. ho.115649W
Deep^a Nalwaya
Partner
Membership ho. 4(37184
UDIN: 26407184UVUYCC5399