Paramatrix Technologies Ltd Auditor Reports

(As required by Section 26 of Companies Act, 2013 read with Rule 4 of Companies (Prospectus and Allotment of Securities) Rules, 2014)

Report of Independent Auditor on examination of the Restated Consolidated Statement of Asset and Liabilities as at March 31, 2024, March 31, 2023, and March 31, 2022 and Consolidated Profit and Losses and Consolidated cash Flow for each of the years ended March 31, 2024, March 31, 2023, and March 31, 2022.

To,

The Board of Directors

Paramatrix Technologies Limited

(Formerly known as Paramatrix Technologies Private Limited)

We, E.A. Patil & Associates LLP, Chartered Accountants, have examined the attached Restated Financial Information of

Paramatrix Technologies Limited (the "Company") comprising the Restated Consolidated Statement of Asset and

Liabilities as at March 31, 2024, March 31, 2023, and March 31, 2022, the Restated Consolidated Statement of Profit and Loss, the Restated Consolidated Cash Flow Statement for the years ended March 31, 2024, March 31, 2023, and March 31, 2022, the Summary Statement of Significant Accounting Policies, and other explanatory information (collectively, the "Restated Financial Information") for the purpose of inclusion in the Final Prospectus prepared by the Company in connection with its proposed SME 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")

Other Matters

The Consolidated Financial Statements include the audited financial statements / financial information of subsidiary (Paramatrix PTE Ltd, Singapore), whose Standalone financial information (included in consolidation) reflect total assets of Rs. 187.33 lakh, Rs 288.40 lakh, and Rs 187.69 lakh as at March 31, 2024, March 31, 2023, and March 31, 2022 respectively and total revenue of Rs. 66.64 lakh, 217.73 lakh, and 178.16 lakh for the year ended March 31, 2024, March 31, 2023, and March 31, 2022 respectively and it also includes the audited financial statements/ financial information of subsidiary (Paramatrix Technologies Ltd, Hongkong) whose Standalone financial information (included in consolidation) reflect total assets of Rs. 435.02 lakh, 344.29 lakh, and 251.42 lakh as at March 31, 2024, March 31, 2023, and March 31, 2022 respectively and total income of Rs. 855.57 lakh, 432.65 lakh, and 356.24 lakh for the year ended March 31, 2024, March 31, 2023, and March 31, 2022 respectively.

Managements Responsibility for the Restated Consolidated Financial Statements

The Companys Board of Directors is responsible for the preparation of the Restated Consolidated Financial Statement for the purpose of inclusion in the Final Prospectus to be filed with Securities and Exchange Board of India ("SEBI") the National Stock Exchange of India Limited ("NSE") and the concerned Registrar of Companies ("RoC"), in connection with the proposed Initial Public Offering ("IPO") of the Equity Shares of the Company on the SME platform of NSE. The

Restated Financial Information have been prepared by the management of the Company on the basis of preparation stated in Annexure IV to the Restated Financial Information. The Board of Directors responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Information.

1. Auditors Responsibility

We, M/S E. A. Patil and Associates LLP, Chartered Accountants have been subjected to the peer review process of the

Institute of Chartered Accountants of India ("ICAI") and our Peer Review Certificate is valid as on the date of signing of this report.

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 January 22, 2024 in connection with the proposed SME IPO of equity shares of the Company; b) The Guidance Note on Reports in Company Prospectus (Revised 2016) issued by ICAI. 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. e) 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 SME IPO.

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

a) Audited Consolidated Financial Statements of the Company for the year ended March 31, 2024 prepared in accordance with the Accounting Standards (referred to as "AS") as prescribed under section 133 of the Act and other accounting principles generally accepted in India which have been approved by the Board of Directors at their meeting held on June 26, 2024. b) Audited Consolidated Financial Statements of the Company as at and for the years ended March 31, 2023 and March 31, 2022, prepared in accordance with the Accounting Standards (referred to as "AS") as prescribed under Section 133 of the Act read with Companies (Accounting Standards) Rules, as amended, and other accounting principles generally accepted in India, which have been approved by the Board of Directors at their meeting held on August 19, 2023 and July 15, 2022 respectively.

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

a) Auditors Report issued by us dated June 26, 2024 on the Consolidated Financial Statements of the Company as at and for year ended March 31, 2024, as referred in Paragraph 2(a) above. b) Auditors Report issued by us dated August 19, 2023 and July 15, 2022 on the Consolidated Financial Statements of the Company as at and for the years ended March 31, 2023, and March 31, 2022 as referred in Paragraph 2(b) above.

4. Based on our examination and according to the information and explanations given to us, we report that:

a) The Restated Financial Information 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 31 March 2024; b) There are no qualifications in the Auditors report on the financial statements of the Company as at and for the year ended March 31, 2024, as at and for each of the years ended March 31, 2023 and March 31, 2022, which require any adjustments to the Restated Financial Information; c) There are no qualifications in the Annexure to the Auditors reports issued under Companies (Auditors Report) Order, 2020 and Companies (Auditors Report) Order, 2016, as applicable, on the Financial Statements for the year ended March 31, 2024, March 31, 2023, and March 31, 2022 which requires any corrective adjustments in the Restated Financial Information. d) The Restated Financial Information have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

5. In accordance with the requirements of the Act including the Rules made thereunder, ICDR Regulations, Guidance Note and Engagement Letter, we report that:

a) The "Restated Consolidated Statement of Assets and Liabilities" of the Company as at March 31, 2024 and March 31, 2023, and March 31, 2022 examined by us, as set out in Annexure I to this Report read with significant accounting policies in Annexure IV has been arrived at after making such adjustments and regrouping to the audited financial statements of the Company, as in our opinion were appropriate and more fully described in notes to the restated summary statements to this Report. b) The "Restated Consolidated Statement of Profit and Loss" of the Company for the financial period/year ended March 31, 2024 and March 31, 2023, and March 31, 2022 examined by us, as set out in Annexure II to this Report read with significant accounting policies in Annexure IV has been arrived at after making such adjustments and regrouping to the audited financial statements of the Company, as in our opinion were appropriate and more fully described in notes to the restated summary statements to this Report.

c) The "Restated Consolidated Statement of Cash Flow" of the Company for the financial period/year ended March 31,

2024 and March 31, 2023, and March 31, 2022 examined by us, as set out in Annexure III to this Report read with significant accounting policies in Annexure IV has been arrived at after making such adjustments and regrouping to the audited financial statements of the Company, as in our opinion were appropriate and more fully described in notes to the restated summary statements to this Report.

6. Other Financial Information

At the companys request, we have also examined the following Other Financial Information, as restated, proposed to be included in the Final Prospectus, prepared by the management and approved by the Board of Directors of the Company and annexed to this report relating to the Company as at March 31, 2024, March 31, 2023, and March 31, 2022.

i. Restated Statement of Assets and Liabilities, as Annexure I

ii. Restated Statement of Profit & Loss, as Annexure I

I iii. Restated Statement of Cashflow, as Annexure III

iv. Consolidated Notes forming part of Restated financial statements, as Annexure IV

v. Restated Statement of Share Capital, as Annexure I.

1 vi. Restated Statement of Reserves and Surplus, as Annexure I

.2 vii. Restated Statement of Long-Term Borrowings, as Annexure I.

3 viii. Restated Statement of Long-Term Provisions, as Annexure I.

4 ix. Restated Statement of Other Long-Term Liabilities, as Annexure I.

5 x. Restated Statement of Short-Term Borrowings, as Annexure I

.6 xi. Restated Statement of Trade Payables, as Annexure I.

7 xii. Restated Statement of Other Current Liabilities, as Annexure I

.8 xiii. Restated Statement of Short-Term Provisions, as Annexure I.

9 xiv. Restated Statement of Property, Plant and Equipment, as Annexure I

.10 xv. Restated Statement of Non-Current Investments, as Annexure I

.11 xvi. Restated Statement of Long-Term Loans and Advances, as Annexure I.

12 xvii. Restated Statement of Other Non-Current Assets, as Annexure I.

13 xviii. Restated Statement of Deferred Tax Assets (Net), as Annexure I.

14 xix. Restated Statement of Current Investments, as Annexure I.

15 xx. Restated Statement of Trade Receivables, as Annexure

I16 xxi. Restated Statement of Cash and Cash Equivalents balances, as Annexure I

.17 xxii. Restated Statement of Short-Term Loans and advances, as Annexure I

.18 xxiii. Restated Statement of Other Current Assets, as Annexure I.

19 xxiv. Restated Statement of Revenue from Operations, as Annexure II

.1 xxv. Restated Statement of Other Income, as Annexure II.

2 xxvi. Restated Statement of Employee Benefit Expenses, as Annexure II.

3 xxvii. Restated Statement of Other Expenses, as Annexure II

.4 xxviii. Restated Statement of Financial Charges, as Annexure II.

5 xxix. Restated Statement of Related Party Transactions, as Annexure

V xxx. Restated Statement of Ratio Analysis, as Annexure

VI xxxi. Restated Statement of Capitalization, as Annexure VII

7. The Restated Financial Information do not reflect the effects of events that occurred subsequent to the respective dates of the reports on the audited financial statements mentioned in paragraph [4] above.

8. We have not audited any financial statements of the Company as at any date or for any period subsequent to March 31, 2024. Accordingly, we express no opinion on the financial position, results of operations and cash flows of the Company as at any date or for any period subsequent to March 31, 2024.

9. This report should not in any way be construed as a reissuance or re-drafting of any of the previous audit reports issued by us, 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 Final Prospectus to be filed with

SEBI, NSE and Roc in connection with the proposed 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.

For E. A. Patil & Associates LLP Chartered Accountants

Firms ICAI Registration Number- 117371W/W100092

Sd/-

Ujwal N Landge Partner

Membership Number: 108231 Date: July 26^th, 2024 UDIN: 24108231BKAPVW8956