Nirmitee Robotics India Ltd Auditor Reports

To

The Board of Directors of Nirmitee Robotics India Limited Report on the Audit of the Standalone Annual Financial Results

Qualified Opinion

We have audited the accompanying Standalone Financial Results of NIRMITEE ROBOTICS INDIA LIMITED., (the Company) for the half year and year ended 31st March 2025 ("the Statement") being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations 2015, as amended ("the listing regulations").

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 ‘Basis for Qualified Opinion Paragraph, these Standalone Financial Results

1. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
2. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under section 133 of the Companies Act, 2013 (the Act) and other accounting principles generally accepted in India, of the financial position, net profit and other financial information for the half year and year ended 31^st March 2025.

Basis for Qualified Opinion

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 Standalone Financial 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 together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, 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.

We would like to draw attention of the users to the following:

1. In Note 8 to the Standalone Financial Results (Property, Plant and Equipment), the assets worth Rs. 36.25 lakhs were lying under the head ‘Capital Goods in Transit on account of closure of the wholly owned subsidiary, Nirmitee Robotics AC Maintenance LLC. Which were physically received on 19.06.2024 and out of which Rs. 18.51 lakhs were apportioned to the respective items of PPE as capital expenditure and apportioned the remaining Rs. 17.74 lakhs as revenue expenditure as the company intends to utilize these items as spares and consumables or in its

trading activities as explained and represented by the management even though these items were previously classified under capital goods. Hence, these items are reclassified as revenue.

As a result of this, the Profit and Loss Account is understated by Rs. 17.74 Lakhs since the reclassified items are booked under Indirect Expenses and disclosed under Note 21 – Other Expenses.

2. Regarding closure of Subsidiary Related Accounts – Following the liquidation of its wholly owned subsidiary, Nirmitee Robotics AC Maintenance LLC, Dubai, the company has closed all subsidiary related balances in its standalone financial results which are as follows:
1. The company had advanced a Long-Term Loan of AED 3,90,000/- (INR 90.99 Lakhs) to its wholly owned subsidiary in Dubai, which was previously disclosed as such, as also mentioned under Note 10 – Long-Term Loans & Advances. Now, pursuant to the closure of the subsidiarys business, the company has written off the loan in its reserves and surplus account as it is a capital loss of monetary value, not relating directly to the regular business operations of the company. The company had also booked and disclosed the interest income of Rs. 9.19 Lakhs in accordance with the loan agreement in its standalone financial results for the half-year ended 30^th September 2024, which is now reversed pursuant to the liquidation.
2. The company had invested AED 3,00,000/- (INR 70.66 Lakhs) in the equity share capital of the wholly owned subsidiary in Dubai, which was previously disclosed in the financial statement and now under Note 10 – Long-Term Loans & Advances. Now, pursuant to the closure of the subsidiarys business, the company has written off the value of this investment in the Profit and Loss Account for cause of representing the diminished value of the investment. This has resulted into understatement in profit by the same amount. The management has represented that the value of investment has diminished below its recoverable value, which is practically zero and that the whole amount of such investment is written off in the Profit and Loss Account.
3. The Company had also advanced certain sums to the Director and the company, Nirmitee Robotics AC Maintenance LLC (INR 62.99 Lakhs) which were expended for the purposes incidental to the business activities and closure of the business. Now. pursuant to the closure of the subsidiarys business, the company has written off the value of these advances in the Profit and Loss Account, which has resulted in an understatement in profit by the same amount. The management has represented that on account of liquidation of the subsidiary; these advances are irrecoverable and thus written off in the Profit and Loss Account.

Emphasis of Matter

The Emphasis of Matter Paragraph in an audit report serves to draw the users specific attention to matters that the auditor, in their professional judgment, considers to be of significance in the organizations financial statements or other documents.

Our opinion is not modified in respect of this matter.

Managements and Board of Directors Responsibilities for the Standalone Financial Results

These half yearly and yearly Standalone Financial Results have been prepared on the basis of the annual Standalone Financial results. The Companys Board of Directors are responsible for preparation

of these financial results that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in Accounting Standard 25, "Interim Financial Reporting" prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Results, the Management and the Board of Directors are 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.

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

Auditors Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results 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 Standalone Financial Results.

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

• Identify and assess the risks of material misstatement of the Standalone Financial Results, 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.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the companys internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Board of Directors.
• Conclude on the appropriateness of Board of Directors 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 Standalone Financial

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

• Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results 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 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.

Other Matter:

The statements include the results for the half year ended 31^st March 2025 being balancing figures between audited figures in respect of the full financial year and the published audited year to date figures upto the first half year of the current financial year which were subjected to limited review by us.

The Company had set up a wholly-owned subsidiary in Dubai (United Arab Emirates), by the name of ‘Nirmitee Robotics AC Maintenance LLC, which has been closed on 15.07.2024. The impact of this would not affect the going concern aspect of the parent company.

We did not audit the financial statements/information of Nirmitee Robotics AC Maintenance LLC. The financial statements/information of the subsidiary are subject to being audited by the independent auditor of the said concern. Our opinion, in so far as it relates to the amounts and disclosures included in respect of the subsidiary, is based solely on the Liquidators Report of the concern and information and representation by the management.

We consider it necessary to communicate this matter with the users of the standalone financial results as it is relevant to the users understanding of these standalone financial results, the auditors responsibilities, or the audit report. Our opinion is not modified in this regard.

Place: Nagpur Date: 27.05.2025

For B P S D & Associates Chartered Accountants FRN: 118251W

Sd/-

CA Shantanu Deshmukh Partner

Membership No. 103837

UDIN: 25103837BMKUGW6463