Phytochem Remedies India Ltd Auditor Reports

RESTATED FINANCIAL INFORMATION OF PHYTOCHEM REMEDIES (INDIA) LIMITED

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

To,

The Board of Directors

PHYTOCHEM REMEDIES (INDIA) LIMITED

220, Ashok Nagar, Udaipur,

Rajasthan 313 001

Dear Sir,

1. We have examined the attached Restated Financial Information of "Phytochem Remedies (India) Limited" (hereinafter referred to as "the Company" or "the Issuer") for the period ended 30th September, 2025, 31st March, 2025 , 31st March 2024 and 31st March 2023 which comprise of the Restated Statement of Assets and Liabilities, Restated Statement of Profit and Loss, Restated Cash Flow Statement and the summary statement of significant accounting policies and other explanatory information (collectively referred to as the "Restated Financial Information") annexed to this report and initiated by us for identification purposes. These Restated Financial Information have been prepared by the management of the Company and approved by the board of directors at their meeting held on December 04, 2025 for the purpose of inclusion in the Prospectus, Prospectus (hereinafter "Offer Documents"), in connection with the proposed Initial Public Offer of Equity Shares ("IPO") of the company.

2. These Restated financial Information have been prepared in accordance with the requirements of:

a. Section 26 of Part I of Chapter III of Companies Act, 2013 (the "Act") read with Companies (Prospectus and Allotment of

Securities) Rules 2014;

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

("ICDR Regulations") and related amendments/ clarifications from time to time issued by the Securities and Exchange Board of India ("SEBI");

c. The Guidance Note on Reports in Company Prospectuses (Revised2019) issued by the Institute of Chartered Accountants of

India ("Guidance Note")

3. The Companys Board of Directors is responsible for the preparation of the Restated Financial Information for inclusion in the Offer documents to be filed with Securities and Exchange Board of India ("SEBI"), Stock Exchanges and Registrar of Companies in connection with the proposed IPO. The Restated Financial Information have been prepared by the management of the Company for the period April 01, 2025 to September 30, 2025 and for the financial year ended March 31, 2025, March 31, 2024 and March 31, 2023 on the basis of preparation stated in Annexure 1 of the Restated Financial Statements. The responsibility of the board of directors of the Company includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Information. The Board of Directors are also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

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

a. The terms of reference and terms of our engagement letter dated April 07, 2025 requesting us to carry out the assignment, in connection with the proposed SME IPO of equity shares 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 Statements; 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.

5. The Restated Financial Information of the Company have been compiled by the management from:

a. Audited Financial Statement as at and for the period ended 30th September, 2025 prepared in accordance with Accounting

Standard, specified under section 133 of the Act, read with Rule 7 of the companies (Accounts) Rules, 2014, as amended, and other accounting principles generally accepted in India by making adjustments for Indian GAAP as applicable to corporates to the audited financial statements for the period ended 30th September 2025 as approved by the board of directors.

b. Audited Financial statement of the Company for the financial years ended 31 March 2025, 31 March 2024 and 31 March

2023 which were prepared in accordance with the accounting standards notified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, as amended, and other accounting principles generally accepted in India. The same have been approved by the Board of Directors.

c. The financial statement of the Company for the financial years ended 31 March 2025 and 31 March 2024 were audited by us, and financial statements for the year ended 31 March 2023 was based on financial statements considered by previous auditors, Nenawati & Associates, Chartered Accountants (ICAI Firm Registration Number: 02148C) and accordingly we have placed reliance on the Statement of Assets and Liabilities and the Statements of Profit and Loss and Cash Flow Statements, the Statement of Significant Accounting Policies and other explanatory information examined by them.

d. Based on our examination and according to information and explanations given to us, we are of the opinion that the Restated

Financial Statements:

i. Have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/ reclassifications retrospectively for the period ended on 30th September, 2025 and year ended on 31st March 2025 , 31st March 2024 and 31st March 2023.

ii. There were no qualifications in the Audit Reports issued by the Statutory Auditors for the period ended April 01, 2025 to

September 30, 2025, and for the financial year ended March 31, 2025, March 31, 2024 and March 31, 2023 which would require adjustments in this Restated Financial Information of the Company;

iii. there are no extra-ordinary items that need to be disclosed separately in the accounts and requiring adjustments.

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

v. Adequate disclosure has been made in the financial statements as required to be made by the issuer as per schedule III of the Companies Act, 2013.

vi. The accounting standards prescribed under the Companies act, 2013 have been followed.

vii. The financial statements present a true and fair view of the companys accounts.

e. In accordance with the requirements of the Act including the rules made there under, ICDR Regulations, Guidance Note and engagement letter, we report that:

i. The "Restated Summary Statement of Assets and Liabilities" as set out in Annexure I to this report, of the Company as at 30 September 2025 is prepared by the management and approved by the Board of Directors and Restated statement of assets and liabilities of Company as set out in Annexure I to this report as at 31 March 2025, 31 March 2024 and 31 March 2023 are prepared by the management of the Company. These Restated Statement of Assets and Liabilities, have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexures to this Report. ii. The "Restated Summary Statement of Profit and Loss" as set out in Annexure II to this report, of the Company for the period ended on 30 September 2025 is prepared by the management and approved by the Board of Directors and restated statement of profit and loss of Company as set out in Annexure II to this report for 1 April 2025 to 30 September 2025 and the year ended 31 March 2025, 31 March 2024 and 31 March 2023 are prepared by the management of the Company. These Restated Statement of Profit and Loss have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexures to this Report.

iii. The "Restated Cash Flow Statement" as set out in Annexure III to this report, of the Company for the period ended on 30 September, 2025 is prepared by the management and approved by the Board of Directors and Restated Cash Flows Statement of Company as set out in Annexure III to this report for the year ended 31 March 2025, 31 March

2024 and 31 March 2023 are prepared by management of the Company. These "Restated Cash Flow Statement" have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexures to this Report.

f. We have also examined the following other financial information relating to the Company for the period ended 30 September

2025 as approved by the board of directors of the Company and other financial information relating to the Company for the financial year ended on 31 March 2025, 31 March 2024 and 31 March 2023 and annexed to this report and proposed to be included in Offer Document.

Annexure No.	Particulars
I	Restated Statement of Assets & Liabilities
II	Restated Statement of Profit & Loss
III	Restated Cash Flow Statement
1	Corporate Information
2	Restated Significant Policies
3	Restated Statement of Share Capital
4	Restated Statement of Reserve and Surplus
5	Restated Statement of Long Term Borrowings
6	Restated Statement of Deferred Tax Liabilities (net)
7	Restated Statement of Non Current Liability
8	Restated Statement of Short Term Borrowings
9	Restated Statement of Trade Payables
10	Restated Statement of Other Current Liabilities
11	Restated Statement of Provisions
12	Restated Statement of Property, Plant and Equipment
13	Restated Statement of Non-Current Investments
14	Restated Statement of Long Term Loans and Advances
15	Restated Statement of Other Non Current Assets
16	Restated Statement of Inventories
17	Restated Statement of Trade Receivables
18	Restated Statement of Cash and Cash Equivalents
19	Restated Statement of Short Term Loans and Advances
20	Restated Statement of Other Current Assets
21	Restated Statement of Revenue from Operations
22	Restated Statement of Other Income
23	Restated Statement of Cost of Material Consumed
24	Restated Statement of Changes in Inventories
25	Restated Statement of Employee Benefit Expenses
26	Restated Statement of Finance Cost
27	Restated Statement of Other Expenses
28	Material Adjustment to the Restated Financial Statement
29	Restated Statement of Contingent Liabilities not acknowledged as debts
30	Restated Estimate Amount of Contracts Remaining to be executed and not provided for (Net of
	Advances)
31	Restated Statement of Depreciation/Amortization
32	Restated Statement of Major components of Deferred Tax Asset/ (Liability)
33	Restated Statement of Remuneration to Auditors
34	Restated Statement of CIF Value of Imports
35	Restated Statement of Foreign Currency Transactions
36	Restated Statement of Segment Reporting
37A	Restated Statement of Accounting & Other Ratios
37B	Restated Statement of Other Ratios
38	Statement of Capitalization
39	Restated Statement of Related Party Transactions
40	Restated Statement of Tax Shelter
41	Restated Statement of Earning Per Share
42	Other Regulatory Information

g. We, M/s Jain Kothari & Company, Chartered Accountants have been subjected to the peer review process of the Institute of

Chartered Accountants of India ("ICAI") and hold a valid peer review certificate issued by the "Peer Review Board" of the

ICAI bearing No. 020467 effective till April 30th, 2028.

h. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by any other firm of chartered accountants, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

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

j. Our report is intended solely for use of the Board of Directors for inclusion in the Offer Document 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.

For Jain Kothari & Company,

Chartered Accountants,

Firm Registration No: 022340C

Sd/-

CA PRINKIT JAIN

Partner

Membership No: 160496

UDIN : 25160496BMJIRZ3584

Date: 04.12.2025