OBSC Perfection Ltd Auditor Reports

INFORMATION

The Board of Directors

OBSC Perfection Ltd.,

6 F, M-6 Uppal Plaza, Jasola District Center, New Delhi 110025, India

Dear Sirs,

1. We have examined the attached Restated Financial Information of OBSC Perfection Ltd., (OBSC Perfection Pvt. Ltd.,) (OBSC Perfection Pvt. Ltd., was converted into a public company on June 28, 2024 and thereby renamed OBSC Perfection Limited) (the "Company" or the "Issuer"), comprising the Restated Statement of Assets and Liabilities as at March 31, 2024, March 31 2023 and March 31 2022, the Restated Statements of Profit and Loss (including other comprehensive income), the Restated Statement of Changes in Equity, the Restated Statement of Cash Flow for the year ended March 31, 2024, 31 March 2023 and 31 March 2022, the Summary Statement of Significant Accounting Policies, and other explanatory information (collectively, the "Restated Financial Information"), as approved by the Board of Directors of the Company at their meeting held on July 5, 2024 for the purpose of inclusion in the Draft red herring prospectus ("DRHP") prepared by the Company in connection with its proposed initial public offer of equity shares ("SME IPO") prepared in terms of the requirements of:

a) Section 26 of Part I of Chapter III of the Companies Act, 2013 (the "Act");

b) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("ICDR Regulations"); and

c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of

Chartered Accountants of India ("ICAI"), as amended from time to time (the "Guidance Note").

2. The Companys Board of Directors is responsible for the preparation of the Restated Financial

Information for the purpose of inclusion in the DRHP to be filed with Securities and Exchange Board of India, National Stock Exchange of India Limited and Registrar of Companies, Delhi in connection with the proposed SME IPO. The Restated Financial Information have been prepared by the management of the Company on the basis of preparation note as stated in "Basis of preparation and significant accounting policies" note to the Restated Financial Information. The responsibility of the respective Board of Directors includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Information. The respective Board of Directors are also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

3. We have examined such Restated Financial Information taking into consideration:

a) The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter dated April 4, 2024 in connection with the proposed SME IPO of the Company;

b) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI;

c) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Information; and d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the IPO.

4. These Restated Financial Information have been compiled by the management from:

a) The Audited financial statements of the company for the year ended March 31, 2024, March 31, 2023 and March 31, 2022 prepared in accordance with accounting principles generally accepted in India including the Accounting Standards specified under Section 133 of the Act,(" Indian GAAP") read with the Companies (Accounting Standards) Rules, 2015, as amended.

5. We have audited the special purpose financial information of the OBSC Perfection Ltd., for the year ended March 31, 2024 prepared by the Company in accordance with the , " Indian GAAP" for the limited purpose of complying with the requirement of getting its financial statements audited by an audit firm holding a valid peer review certificate issued by the "Peer Review Board" of the ICAI as required by ICDR Regulations in relation to proposed IPO. We have issued our report dated 5th July 2024 on these special purpose financial information to the Board of Directors who have approved these in their meeting held on 5th July 2024.

6. For the purpose of our examination, we have relied on:

a) Auditors reports issued by us dated 5^th July, 2024 on the financial statements of the Company as at and for the year ended on 31^st March 2024 referred in Paragraph 4(a) above; and

b) Auditors Report issued by Shanta Shastry & Co., (the "Statutory Auditors"), for the financial year ended on 31^st March 2023 and 31^st March 2022 referred in Paragraph 4(a) above;

The audit for the financial year ended on 31^st March 2023 and 31^st March 2022 were conducted by the Companys auditors, Shanta Shastry & Co., (the "Statutory Auditors"), and accordingly reliance has been placed on the restated statement of assets and liabilities and the restated statements of profit and loss (including other comprehensive income), statements of changes in equity and statement of cash flow, the Summary Statement of Significant Accounting Policies, and other explanatory information and (collectively, the "2024, 2023 and 2022 Restated Financial Information") examined by them for the said years. The examination report included for the said years is based solely on the report submitted by the auditor. They have also confirmed that the 2023 and 2022 Restated Financial Information;

i. have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the financial year ended March 31, 2023 and 31 March 2022 to reflect the same accounting treatment as per the accounting policies and grouping/classifications followed as at and for the year ended 31 March 2024; and

ii. have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

7. Based on our examination and according to the information and explanations given to us and also as per the reliance placed on the examination report submitted by the auditor for the respective years, we report that the Restated Financial Information:

a. have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the financial years ended March 31 2023 and March 31 2022 to reflect the same accounting treatment as per the accounting policies and grouping/classifications followed as at and for the year ended March 31 2024; and

b. have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

8. The Restated Financial Information do not reflect the effects of events that occurred subsequent to the date of audited financial statements mentioned in paragraph 4 above.

9. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by us or the predecessor auditor, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

10. We have no responsibility to update our report for events and circumstances occurring after the date of the report.

11. Our report is intended solely for use of the Board of Directors for inclusion in the DRHP to be filed with Securities and Exchange Board of India, NSE- National Stock Exchange of India Limited and Registrar of Companies, Delhi in connection with the proposed SME IPO. Our report should not be used, referred to, or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior consent in writing.

Chartered Accountants

Firm Registration Number: 512371C

Name: Prashant Kumar Chand Partner ICAI Membership Number: 091046 UDIN: 24091046BKFLZD3393 Date: July 5, 2024 Place: Noida, UP