Quadrant Future Tek Ltd Auditor Reports

Examination Report on the Restated Summary Statement of Assets and Liabilities as at September 30, 2024, March 31, 2024, March 31, 2023 and March 31, 2022, Restated Summary Statement of Profit and Loss (including other comprehensive income), the Restated Summary Statement of Changes in Equity and the Restated Summary Statement of Cash Flows for six months period ended September 30, 2024 and each of the financial years ended March 31, 2024, March 31, 2023 and March 31, 2022, and the Restated Summary Statement of Significant Accounting Policies and other explanatory information of Quadrant Future Tek Limited (Collectively, the "Restated Summary Statements") To The Board of Directors Quadrant Future Tek Limited. Village Basma, on Basma Jhajon road, near Banur, Mohali Dear Sirs,

1. We, SANMARKS & ASSOCIATES have examined the attached Restated Summary Statements of Quadrant Future Tek Limited(the "Company"), as at and for six months period ended September 30, 2024 and each of the financial years ended March 31, 2024,March 31, 2023 and March 31, 2022 annexed to this report and prepared by the Company for the purpose of inclusion of Restated Summary Statement of Quadrant Future Tek Limited (‘Statements in the Company) to be included in the Red Herring Prospectus (the "RHP") proposed to be filed with the Securities and Exchange Board of India ("SEBI"), BSE Limited and National Stock Exchange of India Limited (collectively, the "Stock Exchanges") and the Registrar of Companies, in connection with the proposed initial public offer of equity shares of face value of Rs.10 each of the Company (the "Offering"). The Restated Summary Statements, which have been approved by the Board of Directors of the Company at their meeting held on October 21, 2024, have been prepared in accordance with the requirements of: a. section 26 of Part I of Chapter III of the Companies Act 2013 (the "Act"); b. relevant provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "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 preparation of the Restated Summary Statements is the responsibility of the Board of Directors of the Company. The Restated Summary Statements have been prepared by the management of the Company on the basis of preparation stated in Note B (i) of Annexure V to the Restated Summary Statements. The Board of Directors responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Summary Statements. The Board of Directors are also responsible for identifying and ensuring that the Company complies with the Companies Act, 2013 (‘the Act), ICDR Regulations and the Guidance Note.

3. We have examined such Restated Summary Statements taking into consideration: a. the terms of reference and terms of our engagement agreed with you vide engagement letter dated March 01, 2024 between the Company and SANMARKS & ASSOCIATES requesting us to carry out the assignment, in connection with the proposed offering 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 Summary Statements; and d. the requirements of Section 26 of the Act and the ICDR Regulations.

4. The Company proposes to make an initial public offering of its equity shares of face value of Rs.10 each, which comprises of fresh issue of equity shares and an offer for sale by certain existing shareholders of the Company at such premium arrived at by the book building process(referred to as the "Offer"), as may be decided by the Companys Board of Directors.

5. The Restated Summary Statements have been prepared by the management of the Company from:

a) the audited interim financial statements of the Company as at and for the six months period ended September 30, 2024 prepared in conformity with the accounting principle generally accepted in India including the Indian Accounting Standard (IND AS) 34 specified under section 133 of the Act, read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, which have been approved by the Board of Directors at their meeting held on October 21, 2024 respectively (collectively "Interim Financial Statements")

b) the audited financial statements of the Company as at and for each of the financial years ended March 31, 2024, March 31, 2023 and March 31, 2022 prepared in accordance with the accounting principles generally accepted in India specified under Section 133 of the Act, read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India which have been approved by the Board of Directors at their meeting held on September 03, 2024, September 11, 2023, September 21, 2022 respectively (" Financial Statements");

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

a) Auditors Report issued by us, dated October 21, 2024 on the interim financial statements as at and for the six months period ended September 30, 2024 as referred in paragraph 5 above;

b) Auditors Report issued by us, dated September 03, 2024 on the Financial Statements as at and for the year ended March 31, 2024, September, 11, 2023 on the Financial Statements as at and for the year ended March 31, 2023 and, on the Auditors, Report issued by the predecessor auditors "Mediratta Saini & Associates" dated September 21, 2022 on the Financial Statements as at and for the year ended March 31, 2022, as referred in paragraph 5 above.

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

a) have been prepared after incorporating adjustments for changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the financial years ended March 31, 2024, March 31, 2023 and March 31, 2022 to reflect the same accounting treatment as per the accounting policies and groupings/classifications as at and for the period ended September 30, 2024;

8. The Restated Summary Statements do not reflect the effect of events that occurred subsequent to the respective dates of the reports on audited Financial Statements mentioned in paragraph 6 above.

9. We have not audited any financial statements of the Company as of any date or for any period subsequent to September 30, 2024. Accordingly, we express no opinion on the financial position, results of operations, cash flows and changes in equity of the Company as of any date or for any period subsequent to September 30, 2024.

10. This report should not be in any way construed as a reissuance or re-dating 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.

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

12. Our report is intended solely for use of the management of the Company in connection with the proposed offering for inclusion in the RHP to be filed with SEBI, the Stock Exchanges and the Registrar of Companies in connection with the proposed Offering. 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.