Prizor Viztech Ltd Auditor Reports

Independent Auditors Report on Restated Financial Information of Prizor Viztech 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 Prizor Viztech Limited

514, Maple Trade centre,

Nr. Surdhara, Thaltej, Ahmedabad,

Ahmedbad, Gujarat, India, 380054

Dear Sir/Maain,

1. We have examined the attached Restated Financial Information of Prizor Viztech Limited (hereinafter referred as "the Company" or the "Issuer") comprising the Restated Statement of Assets and Liabilities of the Company as at March 31, 2024, March 31, 2023, and March 31, 2022, the Restated Statements of Profit and Loss of the company, the Restated Cash Flow Statement of the company for the year ended on March 31, 2024, March 31, 2023, and March 31, 2022 the Summary Statement of Significant Accounting Policies adopted by the company and notes to the restated financial information (collectively hereinafter referred as "Restated Financial Statement" or "Restated Financial Information"), as approved by the Board of Directors of the Company at their meeting held on 23rd May, 2024 for the purpose of inclusion in the Offer Document prepared by the Company in connection with its proposed SME Initial Public Offer of equity shares ("SME IPO) at SME Platform of NSE Limited ("NSE Emerge").

2. These restated Summary⁷ Statement have been prepared in terms of the requirements of:

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

3. The Companys Board of Directors is responsible for the preparation of the Restated Financial Information for the purpose of inclusion in the Offer Document to be tiled with Securities and Exchange Board of India ("SEBI"), the relevant Stock Exchange ("NSE Emerge") and Registrar of Companies, Maharashtra ("ROC") in connection with the proposed SME IPO. The Restated Financial Information of the company have been extracted and 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 of the Company responsibility 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 agreed upon with you in accordance with our engagement letter dated 17^th May 2024 in connection with the proposed IPO of equity shares of the Issuer;

b) The Guidance Note. 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.

5. This Restated Financial Information have been compiled by the management from:

a) Audited financial statements of the Company as at and for the year ended March 31, 2024, March 31, 2023, and March 31, 2022, prepared in accordance with the Indian Accounting Standards ("Indian GAAP") which have been approved by the Board of Directors at their meeting held on 20^h April, 2024, 28^th August, 2023, and 28^lh September, 2022 respectively.

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

b) Auditors Report issued, by M/s. )avmin Shah & Associates, dated 28^lh August, 2023, and 28^th September, 2022 on the financial statements of the company as at and for the period March 31, 2024, March 31, 2023 and March 31, 2022 respectively, as referred in Paragraph 5(a) above.

Reliance has been placed on the restated statement of assets and liabilities and the restated statements of profit and loss and cash flow statements, the Summary Statement of Significant Accounting Policies adopted by the company and notes to the restated financial information (collectively hereinafter referred as "Restated Financial Statement" or "Restated Financial Information") examined by us for the said years.

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

a) The "Restated Summary Statement of Assets and Liabilities" as set out in Annexure I to this report, of the Company as at and for year ended on March 31, 2024, March 31, 2023,

a) The "Restated Summary Statement of Assets and Liabilities" as set out in Annexure I to this report, of die Company as at and for year ended on March 31, 2024, March 31, 2023, and March 31, 2022 are prepare ed by the Company and approved by die Board of Directors. These Restated summary Statement of Assets and Liabilities have been arrived at after making such adjustments and regroupings to die 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 Annexure IV to diis Report.

b) The "Restated Summary Statement of Profit and Loss" as set out in Annexure II to diis report, of die Company as at and for the year ended March 31, 2024, March 31, 2023, and March 31, 2022 are prepared by die Company and approved by die Board of Directors. These Restated summary Statement of Profit and Loss have been arrived at after making such adjustments and regroupings to die individual financial statements of the Company, as in our opinion were appropriate and more fully⁷ described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

c) The "Restated Summary Statement of Cash Flow" as set out in Annexure III to this report, of die Company⁷ as at and for the y⁷ear ended March 31, 2024, March 31, 2023, and March 31, 2022 are prepared by⁷ die Company⁷ and approved by⁷ die Board of Directors. These Restated summary Statement of Cash Flow have been arrived at after making such adjustments and regroupings to die individual financial statements of die Company⁷, as in our opinion were appropriate and more frilly⁷ described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

d) The Restated Standalone Summary Statement have been prepared in accordance with die Act, ICDR Regulations and the Guidance Note.

e) The Restated Summary Statements have been made after incorporating adjustments for prior period and other material amounts in die respective financial y⁷ears to which tiiey⁷ relate, if any⁷ and there are no qualifications which require adjustments;

i) Extra-ordinary items that need to be disclosed separately⁷ in die accounts has been disclosed wherever required;

g) There were no qualifications in die Audit Reports issued by⁷ die Statutory⁷ Auditors as at and for the y⁷ear ended March 31, 2024, March 31, 2023, and March 31, 2022.

h) Profits and losses have been arrived at after charging all expenses including depreciation and after making such adjustments/restatements and regroupings as in our opinion are appropriate and are to be read in accordance with die Significant Accounting Pohces and Notes to Accounts as set out in Annexure IV to this report;

i) Adjustments hi Restated Summary⁷ Statements have been made in accordance with die correct accounting policies, which includes the impact of adjustments for Deferred Tax Assets/Liabilities made basis hi die Restated Summary⁷ Statements;

j) There are no revaluation reserves, which need to be disclosed separately in the Restated Financial Statements;

k) The company has not proposed any dividend in past effective for the said period.

8. We have also examined die following odier financial information relating to die Company prepared by the Management and as approved by the Board of Directors of the Company and annexed to this report relating to die Company as at and for die year ended March 31, 2024, March 31, 2023, and March 31, 2022, proposed to be included in die Offer Document.

Annexure No. Particulars

I Restated Statement of Assets & Liabilities

II Restated Statement of Profit & Loss

in Restated Cash Flow Statement

IV (A) Statement of Significant Accounting Policies & Notes

IV (B) Reconciliation of Restated Profit

IV (C) Reconciliation of Restated Equity/ Net Worm

V Restated Statement of Share Capital

VI Restated Statement of Reserves & Surplus

VII Restated Statement of Long/Short Term Borrowings

VIII Restated Statement of Long-Term Provisions

VII (B) Nature of security & terms of repayment for long/ short term borrowings including current maturities

IX Restated Statement of Trade Payable

X Restated Statement of Odier Current Liabilities

XI Restated Statement of Short-Term Provisions

XII Restated Statement of Tangible Assets

XIII Restated Statement of Deferred tax Liabilities/ Assets

XIV Restated Statement of Long-Term Loans and Advances

XV Restated Statement of Inventories

XVI Restated Statement of Trade Receivable

XVII Restated Statement of Cash & Cash Equivalents

XVIII Restated Statement of Short-Term Loans and Advances

XIX Restated Statement of Other Current Assets

XX Restated Statement of Revenue from operations

XXI Restated Statement of Other Income

XXII Restated Statement of Cost of Material Consumed

XXIII Restated Statement of Changes in Inventories

XXIV Restated Statement of Employees Benefit Expenses

XXV Restated Statement of Financial Cost

XXVI Restated Statement of Other Expenses

XXVII Restated Standalone Statement of Financial Ratio

xxvin Restated Statement of Related Parties Transactions

XXIX Statement of Capitalisation, As Restated

XXX Statement of Tax Shelter, As Restated

XXXI Statement of Contingent Liabilities & Commitments, As Restated

XXXII Statement of Other Financial Information, As Restated

XXXIII Notes to Standalone Restated Financial Statement

9. We, M/s. M B Jajodia & Associates, Chartered Accountants have been sirbjected to die peer review process of the Institute of Chartered Accountants of India ("ICAT) and hold a valid peer review certificate issued by die "Peer Review Board" of the ICAI which is valid till 31" July 2026.

10. The Restated Financial Information do not redect the effects of events that occurred subsequent to die respective dates of die reports on die special purpose interim financial statements and audited financial statements mentioned in paragraph 5 above.

11. This report should not in and way be construed as a reassurance or re-dating of any of the previous audit reports issued by the Auditor, nor should the report be construed as a new opinion on any of die financial statements referred to herein.

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

13. Our report is intended solely for use of die Board of Directors for inclusion in the Offer Document to be filed widh Securities and Exchange Board of India ("SEBI"), die relevant stock exchange ("NSE Emerge") and Registrar of Companies, Maharashtra ("ROC") in connection with die proposed SME IPO. Our report should not be used, referred to, or distributed for any odier 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 diis report is shown or into whose hands it may come widi out our prior consent in writing.

For, M B Jajodia & Associates

Chartered Accountants

Firm Registration Number: 013964W

Peer Review No.: 015630 CA Manoj Jajodia

(Partner)

Membership No.: 162116

UDIN: 24162116BKBGTC5033

Date: May 23, 2024

Place: Ahmedabad