Miven Machine Tools Ltd Auditor Reports

To

The Members of

MIVEN MACHINE TOOLS LIMITED,

HYDERABAD.

Report on the Audit of Standalone Ind AS Financial Statements
Qualified Opinion

We have audited the accompanying Standalone Ind AS Financial
Statements of Miven Machine Tools Limited ("the Company"), which
comprise the Balance Sheet as at March 31^st, 2025, the Statement of
Profit and Loss, including the statement of Other Comprehensive
Income, the Cash Flow Statement and the Statement of Changes in
Equity for the year then ended, and a summary of significant
accounting policies and other explanatory information (herein after
referred to as "Standalone Ind AS Financial Statements").

In our opinion and to the best of our information and according to the
explanations given to us, except for the possible effects of the matters
described in the Basis for Qualified Opinion section of our report, the
afore said Ind AS financial statements give the information required by
the Companies Act, 2013, as amended ("the Act") in the manner so
required and give a true and Fairview in conformity with the accounting
principles generally accepted in India, of the state of affairs of the
Company as at March 31^st , 2025, its loss including total
comprehensive loss, its cash flows and the changes in equity for the
year ended on that date.

Basis For Qualified Opinion:

No provision has been made in respect of interest payable on Inter
Company Loans amounting to INR 11.26 Lakhs as indicated in Note:
25(D) to Standalone Ind AS financial statements. The company has not
provided any documentary evidence for not recognizing these liabilities
as claims. This has resulted in overstatement of total comprehensive
income and other equity and understatement of current liabilities by
the said amount.

We conducted our audit in accordance with the Standards on Auditing
(SAs) specified under section 143(10) of the Companies Act, 2013. 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 together with the ethical requirements that are
relevant to our audit of the financial statements under the provisions of
the Companies Act, 2013 and the Rules there under, and we have
fulfilled our other ethical responsibilities in accordance with these
requirements and the Code of Ethics. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our
opinion.

Material Uncertainty Related To Going Concern

We draw attention to Note 25(A) in the Standalone Ind AS Financial
Statements which indicates that the Companys liabilities exceed its
total assets by INR 551.75 Lakhs as at 31^st March, 2025.The company
has no tangible property, plant and equipment, no inventoiy and no
employees on its rolls as on the reporting date except Key Managerial
Persons. As stated therein these events or conditions indicate that a
material uncertainty exists that may cast significant doubt on the
companys ability to continue as a going concern. Our opinion is not
modified in respect of this matter.

Emphasis Of Matter

1. We draw attention to Note 25(C) to the accompanying Standalone Ind
AS Financial Statements about the re-grouping and re-classification of
items in the Standalone Balance sheet.

2. We draw attention to Note 18(a) to the accompanying Standalone Ind
AS Financial Statements about Other Income.

3. We draw attention to Note 18(b) to the accompanying Standalone Ind
AS Financial Statements about writing back of certain liabilities owed
by the company shown under Other Income in the Standalone
Statement of Profit and Loss.

4. We draw attention to Note 25(J)(iii)(b) to the accompanying Standalone
Ind AS Financial Statements regarding pending claims against the
company which have not been acknowledged as debt.

Our opinion is not modified in respect of above matters.

Other Matter

We have not audited the comparative financial information for the
period ended on 31^st March, 2024 appearing in the Standalone Ind AS
Financial Statements for the period ended on 31^st March, 2025. The
comparative financial information for the period ended on 31^st March,
2024 appearing in the Standalone Ind AS Financial Statements for the
period ended on 31^st March, 2025 were audited by the previous auditor.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment,
were of most significance in our audit of the financial statements of the
current period. These matters were addressed in the context of our
audit of the financial statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on these matters.

Information Other than the Standalone Financial Statements and
Auditors Report Thereon

The Companys Board of Directors is responsible for the preparation of
the other information. The other information comprises the information
included in the Management Discussion and analysis, Boards Report
including Annexures to Boards Report, Business Responsibility Report,
Corporate Governance and Shareholders Information, but does not
include the standalone financial statements and our auditors report
thereon.

Our opinion on the standalone financial 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 financial statements, our
responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent with the
standalone financial statements or our knowledge obtained during the
course of our audit or otherwise appears to be materially misstated.

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

Responsibilities Of Management And Those Charged With
Governance For The Standalone Financial Statements

The Companys Board of Directors is responsible for the matters stated
in section 134(5) of the Companies Act, 2013 ("the Act") with respect to
the preparation of these standalone IND AS financial statements that
give a true and fair view of the financial position, financial performance,
changes in equity and cash flows of the Company in accordance with
the accounting principles generally accepted in India, including the
accounting Standards specified under Section 133 of the Act. 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 financial controls, that were operating effectively for ensuring
the accuracy and completeness of the accounting records, relevant to
the preparation and presentation of the IND AS financial statements
that give a true and fair view and are free from material misstatement,
whether due to fraud or error.

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

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

Auditors Responsibilities For The Audit Of Standalone Financial
Statements

1. Our objectives are to obtain reasonable assurance about whether the
financial statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an auditors report that
includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audit conducted in
accordance with 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 influence the economic decisions of users taken on the
basis of these financial statements.

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

a. 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 to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher
than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of
internal control.

b. Obtain an understanding of internal control relevant to the audit in
order to design audit procedures that are appropriate in the
circumstances. Under section 143(3)(i)of the Companies Act, 2013, we
are also responsible for expressing our opinion on whether the company
has adequate internal financial controls system in place and the
operating effectiveness of such controls.

c. Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures made
by management.

d. Conclude on the appropriateness of managements use of the going
concern basis of accounting and, based on the audit evidence obtained,
whether a material uncertainty exists related to events or conditions
that may cast significant doubt on the Companys ability to continue as
a going concern. If we conclude that a material uncertainty exists, we
are required to draw attention in our auditors report to the^related

disclosures in the financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditors report. However,
future events or conditions may cause the Company to cease to
continue as a going concern.

e. 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 fair presentation.

Materiality is the magnitude of misstatements in the standalone
financial statements that, individually or in aggregate, makes it
probable that the economic decisions of a reasonably knowledgeable
user of the financial statements may be influenced. 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 effect of any identified misstatements in the financial
statements.

We communicate with those charged with governance regarding, among
other matters, the planned scope and timing of the audit and significant
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 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 charged with governance,
we determine those matters that were of most significance in the audit
of the financial statements of the current period and are therefore the
key audit matters. We describe these matters in our auditors report
unless law or regulation precludes public disclosure about the matter
or when, in extremely rare circumstances, we determine that a matter
should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the
public interest benefits of such communication.

Report On Other Legal And Regulatory Requirements

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.

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

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

2. In our opinion, proper books of account are maintained as required by
law by the Company so far as it appears from our examination of those
books;

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

4. In our opinion, the aforesaid standalone Ind AS financial statements
comply with the Indian Accounting Standards prescribed under section
133 of the Act read with relevant rules issued there under.

5. On the basis of the written representations received from the directors

as on March 31^st, 2025 taken on record by the Board of Directors, none
of the directors is disqualified as on March 31^st, 2025 from being

appointed as a director in terms of Section 164(2) of the Act;

6. With respect to the adequacy of the internal financial controls over
financial reporting of the Company and the operating effectiveness of
such controls, refer to our separate Reporting "Annexure B". Our report
expresses an unmodified opinion on the adequacy and operating
effectiveness of the Companys internal financial controls over financial
reporting.

7. With respect to the other matters to be included in the Auditors Report
in accordance with the requirements 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 read with Schedule V of the Act.

8. 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:

a. The Company has disclosed the impact of pending litigations on its
financial position in its standalone Ind AS financial statements. Refer
Note 25(J)(iii)(b) to the standalone Ind AS financial statements.

b. The company did not enter into any long-term contracts wherein
material losses as required under the applicable law or accounting
standards that needs to be recognized in the Standalone Ind AS
Financial Statements. Further, the company has not entered in any
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 by the Company.

d. (a)The management has represented that, to the best of its knowledge
and belief, no funds 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(s) or entity(ies),
including foreign entitiesflntermediaries"), 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;

(b)The management has represented, that, to the best of its knowledge
and belief, no funds have been received by the company from any
person(s) or entity(ies),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 the Ultimate Beneficiaries;
and

(c) Based on audit procedures which we 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 (a)
and (b) contain any material misstatement.

e. The company has not declared or paid any dividend during the year in
contravention of the provisions of section 123 of the Companies Act,
2013

f. Based on our examination which included test checks, the company
has used an accounting software for maintaining its books of account
which has a feature of recording audit trail (edit log) facility. The audit
trail is preserved by the company as per the statutory requirements for
record retention.

ANNEXURE ‘A REFERRED TO IN PARAGRAPH (1) UNDER the
HEADING "REPORT ON OTHER LEGAL AND REGULATORY
REQUIREMENTS" OF OUR REPORT TO THE MEMBERS OF MIVEN
MACHINE TOOLS LIMITED:

i. In respect of its fixed assets:

a. According to the information and explanation given to us by the
management, the company does not hold any property, plant and
equipment. Hence the provisions of Clause (i) of paragraph 3 of the
order is not applicable to the company.

b. According to the information and explanation given to us by the
management, the company does not hold any intangible assets. Hence
the provisions of Clause (i) of paragraph 3 of the order are not
applicable to the company.

c. No proceedings have been initiated during the year or are pending
against the company as at March 31^st , 2025 for holding any benami
property under the Benami Transactions (Prohibition) Act, 1988 and
rules made there under.

ii.In respect of its inventories:

a. According to the information and explanation given to us by the
management, the company does not hold any inventory during the year.
Hence the provisions of Clause (ii) (a) of paragraph 3 of the order are not
applicable to the 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 been sanctioned any working capital limits, from banks or
financial institutions on the basis of security of current assets.
Accordingly, the provisions of Clause (ii)(b) of paragraph 3 of the order
are not applicable to the company.

iii. The company has not granted any loans, secured or unsecured to
Companies, firms, limited liability partnerships or other parties covered
in register maintained under section 189 of the Companies Act, 2013.
Hence clause 3 (iii) (a) to (f) of the order is not applicable to the company.

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iv. In our opinion and according to the information and explanations given
to us, the company has not advanced any loan or made any
investments or given any guarantee and security as applicable vide
provisions of Section 185 and 186 of the Companies Act, 2013. Hence
clause 3(iv) of the Order is not applicable.

v. During the year, the Company has not accepted any deposits within the
meaning of Sections 73 to 76 of the Act and the Companies (Acceptance
of Deposits) Rules, 2014 (as amended). Accordingly, the provisions of
clause 3(v) of the Order are not applicable to the Company.

vi. According to the information and explanations given to us, the
maintenance of cost records under section 148(1) of the Companies Act,
2013, related to the manufacturing activities, are not applicable to the
company.

vii. With respect to statutory dues:

a. Undisputed statutory dues including Goods and Services tax, provident
fund, employees state insurance, income-tax, sales-tax, service tax,
duty of custom, duty of excise, value added tax, cess have been
regularly deposited by the company with the appropriate authorities.
According to the information and explanations provided to us, no
undisputed amounts payable in respect of Provident Fund, Employees
State Insurance, Income-Tax, Service Tax, Sales-Tax, Goods and
Services Tax, Duty of Custom, Duty of Excise, Value Added Tax, Cess
and Other Statutory Dues were outstanding, at the year end, for a
period of more than six months from the date they became payable.

The Company does not have liability in respect of Service tax, Duty of
excise, Sales tax and Value added tax during the year since effective 1,
July 2017, these statutory dues has been subsumed into Goods and
Services Tax ("GST").

b. According to the records of the Company, there are no dues of Income-
Tax, Sales Tax, Service Tax, Duty of Custom, Duty of Excise, Value
Added Tax and Cess which have not been deposited on March 31, 2025
on account of any dispute. Accordingly, the provisions of Clause (vii)(b)
of paragraph 3 of the order are not applicable to the Company.

viii. 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 surrendered or disclosed any transactions, previously
unrecorded as income in the books of account, in the tax assessments
under the Income Tax Act, 1961 as income during the year.

ix. (a) In our opinion and according to the information and explanations

provided by the management, the Company has not defaulted in
repayment of loans or borrowing to a financial institution, bank or
government or dues to debenture holders.

(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 as a wilful defaulter by any bank or
financial institution or government or government authority.

(c) No term loans were borrowed by the company 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) According to the information and explanations given to us and on an
overall examination of the standalone financial statements of the
Company, we report that the Company has not taken any funds from
any entity or person on account of or to meet the obligations of its
subsidiaries, as defined in the Act. The Company does not hold any
investment in any associate or joint venture (as defined in the Act)
during the year ended 31^st March, 2025.

(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 (as defined under the Act) as the Company does not have
any subsidiary.

x. (a) The company has not raised monies by way of initial public offer or

further public officer (including debit instruments) and term loans
during the year. Accordingly, the provisions of clause 3(x)(a) of the
Order is not applicable to the company. ,. g

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(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 made any preferential allotment or private placement
of shares or fully or partly convertible debentures during the year.
Accordingly, clause 3(x)(b) of the Order is not applicable.

xi. No whistle blower complaints have been received by the Company
during the year.

xii. According to the information and explanations given to us, the
Company is not a Nidhi Company. Accordingly, clause 3 (xii) of the
Order is not applicable.

xiii. In our opinion and according to the information and explanations given
to us, the transactions with related parties are in compliance with
Section 177 and 188 of the Act, where applicable, and the details of the
related party transactions have been disclosed in the standalone
financial statements as required by the applicable accounting
standards.

xiv. (a) Based on information and explanations provided to us and our audit

procedures, in our opinion, the Company has an adequate internal
audit system commensurate with the size and nature of its business.

(b)We have obtained all of the internal audit reports of the company
which was considered by us in framing this audit report.

xv. In our opinion and according to the information and explanations
given to us, the Company has not entered into any non-cash
transactions with its directors or persons connected to its directors.
Hence, provisions of Section 192 of the Act are not applicable to the
Company.

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

(b) The company has not conducted any Non-Banking Financial or
Housing Finance activities without a valid Certificate of Registration

(CoR) from the Reserve Bank of India as per the Reserve Bank of India
Act, 1934;

(c) The Company is not a Core Investment Company (CIC) as defined 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 explanations provided to us during
the course of audit, the Group does not have any CICs.

xvii. The Company has incurred cash loss in immediately preceding
financial year amounting to INR. 147.52 Lakhs and has incurred cash
losses amounting to INR. 61.31 Lakhs during the current year.

xviii. M/s. RAO ASSOCIATES, Chartered Accountants (FRN:003080S) were
appointed as statutory auditors in the 37^th AGM for a term of 5 years
up to the conclusion of 42^nd AGM. However they have expressed their
inability to continue as statutory auditors of the Company and resigned
on 29.05.2024.

xix. On the basis of the financial ratios, ageing and expected dates of
realisation of financial assets and payment of financial liabilities, other
information accompanying the financial statements, the auditors
knowledge of the Board of Directors and management plans, we are of
the opinion that material uncertainty exists as on the date of the audit
report 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.

xx. (a) The company has no obligation to transfer funds related to projects
other than ongoing projects to a Fund specified in Schedule VII of the
Companies Act within six months of the financial years end. This is in
compliance with the second proviso to sub-section (5) of section 135, as
there are no such funds, rendering this reporting clause in applicable.

(b) In our opinion and according to the information and explanations
given to us during the course of the audit, there are no amounts
unspent under sub section (5) of section 135 of the Companies Act,
pursuant to any ongoing project, that has to be transferred to special

account in compliance with provision of sub section (6) of section 135 of
the said Act.

xxi. The company has not made investments in subsidiary company.
Therefore, the company does not require to prepare consolidated
financial statements. Therefore, the provisions of Clause (xxi) of
paragraph 3 of the order are not applicable to the Company.

ANNEXURE "B" REFERRED TO IN PARAGRAPH (2) UNDER THE
HEADING "REPORT ON OTHER LEGAL AND REGULATORY
REQUIREMENTS" OF AUDITORS REPORT ON THE ACCOUNTS OF
MIVEN MACHINE TOOLS LIMITED FOR THE YEAR ENDED 31st
MARCH 2025.

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

We have audited the internal financial controls over financial reporting
of M/s. MIVEN MACHINETOOLS LIMITED, as of March 31, 2025 in
conjunction with our audit of the Standalone Ind AS 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 financial controls based on the internal control
over financial 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 include the design, implementation and maintenance of
adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct 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 accounting records, and the timely preparation of
reliable financial information, as required under the Companies Act,
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 Note on Audit of
Internal Financial Controls Over Financial Reporting (the "Guidance
Note") and the Standards on Auditing, issued by ICA1 and deemed to be
prescribed under section 143(10) of the Companies Act, 2013, to the
extent applicable to an audit of internal financial controls, both
applicable to an audit of Internal Financial Controls and, 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 whether adequate internal financial controls over
financial reporting was established and maintained and if such controls
operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence
about the adequacy of the internal financial controls system over
financial reporting and their operating effectiveness. Our audit of
internal financial controls over financial reporting included obtaining an
understanding of internal financial controls over financial reporting,
assessing the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness 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 financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for 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 provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted
accounting principles. A companys internal financial control over
financial reporting includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the
assets of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of
financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being
made only in accordance with authorizations of management and
directors of the company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition,
use, or disposition of the companys assets 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, 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 financial controls over financial reporting to future periods
are subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in conditions, or
that the degree of compliance with the policies or procedures may
deteriorate.

Inherent Limitations of Internal Financial Controls With reference
to Standalone Financial Statements

Because of the inherent limitations of internal financial controls with
reference to Standalone Financial Statements, 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 financial controls with
reference to Standalone Financial Statements to future periods are
subject to the risk that the internal financial control with reference to
Standalone Financial Statements 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, the company has, in all material respects, an adequate
internal financial controls system over financial reporting and such
internal financial controls over financial reporting were operating
effectively as at March 31st, 2025, based on the internal control over
financial 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.

For V. RAO &GOPI

Chartered Accountants

FRN: 003153S

 

CrK. P Hanumantha Rao nv&V

Partner

Mem. No: 026990

Date:26.05.2025

UDIN: 25026990BMISLD8024

Place: Hyderabad