Prasol Chemicals Ltd Auditor Reports

a. Section 26 of Part I of Chapter III of the Companies Act, 2013 (the ‘Act), read with relevant rules issued thereunder, each as amended.

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

a. The terms of reference and terms of our engagement agreed upon with you in accordance with Engagement Letter dated January 3, 2025, in connection with the proposed IPO of equity shares of the Issuer.

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

c. Concept 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 SEBI ICDR Regulations.

Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the SEBI ICDR Regulations and the Guidance Note in connection with the IPO.

a. Special Purpose Interim Audited Consolidated Financial Statements of the Company as at and for the three months period ended June 30, 2025, prepared in accordance with Ind AS 34 ‘Interim Financial Reporting, prescribed under section 133 of the Act read with Companies (Indian Accounting Standards) Rules 2015, as amended (“Ind AS”) and other accounting principles generally accepted in India. These Special Purpose Interim Financial Statements have been approved by the Board of Directors at their meeting held on August 14, 2025 on which we have expressed an unmodified opinion.

b. Audited Consolidated Financial Statements of the Company as at and for the years ended March 31, 2025 and March 31, 2024 and Audited Standalone Financial Statements for the year ended March 31, 2023 prepared in accordance with Ind AS, as prescribed under section 133 of the Act, read with Companies (Indian Accounting Standards) Rules 2015, as amended, and other accounting principles generally accepted in India. These Audited Consolidated Financial Statements for the year ended March 31, 2025 and March 31, 2024 and Audited Standalone Financial Statements for the year ended March 31, 2023 have been approved by the Board of Directors at their meetings held on June 18, 2025, July 12, 2024 and July 4, 2023, respectively, on which we have expressed an unmodified opinion.

a. Our Audit Report dated August 14, 2025 on the Special Purpose Interim Audited Consolidated Financial Statements of the Company as at and for the three months period ended June 30, 2025, as referred in Paragraph 4a above; and

b. Our Audit Reports dated June 18, 2025, July 12, 2024 and July 4, 2023 on the Financial Statements of the Company as at and for the year ended March 31, 2025, March 31, 2024 and March 31, 2023, respectively, as referred in Paragraph 4b above.

a. The Restated Financial Information has been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping / reclassifications retrospectively in the financial years ended March 31, 2025, March 31, 2024 and March 31, 2023 to reflect the same accounting treatment as per the accounting policies and grouping / classifications followed as at and for the three months period ended June 30, 2025.

b. There are no qualifications in the auditors reports which require any adjustments to the Restated Financial Information; and

c. The Restated Financial Information has been prepared in accordance with the Act, SEBI

ICDR Regulations and the Guidance Note

d. As stated in note no. 51, the total managerial remuneration paid for FY 23-24 and FY 22-23 was in excess of the limits specified in section 197 read with Schedule V to the Companies Act, 2013. The same has been approved by the members at the Annual General Meeting held on September 18, 2024.

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 SEBI and the Stock Exchanges, as applicable 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 towards any other person relying on the same without our prior consent in writing.