S. K. Offset 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)

To

The Board of Directors,

S. K. Offset Limited

(Formerly known as S. K. Offset Private Limited)

15, Sports Complex Enclave, Delhi Road, Meerut-250002, Uttar Pradesh,

Report on the Restated Financial Statements

We, A G R A AND CO., Chartered Accountants, have examined the attached Restated Financial Statements of S. K. Offset Limited (Formerly Known as S. K. Offset Private Limited (hereinafter referred to as the Company), comprising, the Restated Statement of Assets and Liabilities as at nine month period ended December 31, 2025, and financial years ended March 31, 2025, 2024 and 2023, the Restated Statements of Profit and Loss and the Restated Cash Flow Statement for the nine-month period ended on December 31, 2025 and the financial years ended March 31, 2025, 2024 and 2023 the Statement of Significant Accounting Policies, the Notes and Annexures as forming part of these

Restated Financial Statements (collectively, the Restated Financial Statements), as approved by the Board of Directors of the Company at their meeting for the purpose of inclusion in Draft Red Herring

Prospectus (DRHP)/Red Herring Prospectus/Prospectus prepared by the management of the Company in connection with its proposed SME Initial Public Offer of equity shares (SME IPO) at SME Platform of Bombay Stock Exchange Limited (BSE SME).

These restated financials statements have been 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).

The Companys Board of Directors is responsible for the preparation of the Restated Financial Statements for the purpose of inclusion in the Draft Red Herring Prospectus/Red Herring Prospectus/ Prospectus to be filed with Securities and Exchange Board of India, relevant stock exchange and Registrar of Companies, Uttar Pradesh - II in connection with the proposed SME IPO. The Restated Financial Statements has been prepared by the management of the Company on the basis of preparation stated in Basis of Preparation section of the Annexure D Summary of significant accounting policies and other explanatory information in the Restated Financial Statements. The Board of Directors responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Statements. The Board of Directors is also responsible for identifying and ensuring that the Company complies with the Companies Act, (ICDR) Regulations and the Guidance Note.

We have examined such Restated Financial Statements taking into consideration:

a. The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter dated December 3, 2025 in connection with the proposed IPO 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; 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.

These Restated Financial Statement have been compiled by the management from the Audited Financial Statements of the company for the year ended March 31, 2025, March 31, 2024 and March 31, 2023 and the Interim Financial Statements for the period April 1, 2025 to December 31, 2025 which has been subject to Limited Review has been approved by the Board of Directors.

Limited Review for the nine-month period ended December 31, 2025 and Statutory Audit for the financial year ended March 31, 2025, 2024 and 2023 respectively, were carried out by Ravindra Aggarwal & Co., Chartered Accountants vide reports dated May 23, 2026, September 6, 2025, September 25, 2024 and September 11, 2023 respectively. There are no audit qualifications in the audit reports or the limited review report issued by the auditor which would require adjustments in the Restated Financial Statements of the Company. Accordingly, reliance has been placed on audited financial statements issued by the auditor.

In relation to above matters, there were no changes that were required to be made in the financial information included in the Restated Financial Statement. Our opinion is not qualified in regards to this matter.

Based on our examination and according to the information and explanations given to us and also as per the reliance placed on the audit report submitted by the Previous Auditors for the respective year, we report that the Restated Financial Statements have been made after incorporating:

a. Adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively in the nine-month period ended December 31, 2025 and 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 period ended December 31, 2025; b. Adjustments for prior period and other material amounts in the respective financial years to which they relate. c. There are no extra-ordinary items that need to be disclosed separately in the accounts and requiring adjustments; d. There are no audit qualifications, in the Audit Reports issued by the Statutory Auditors for the period ended March 31, 2025, March 31, 2024 and 2023, and the limited review report issued for the nine-month period ended December 31, 2025, which would require adjustments in this Restated Financial Statements of the Company. e. These 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 the Significant Accounting

Polices and Notes to Restated Summary Statements as set out in Annexures A through M to this report. f. There was no change in accounting policies, which needs to be adjusted in the Restated Financial Statements or Restated Summary Financial Statement. g. The Company has not paid any dividend since its incorporation. h. Have been prepared in accordance with the Act, the ICDR Regulations and the Guidance Note.

In accordance with the requirements of Part I of Chapter III of Act including rules made therein, ICDR Regulations, Guidance Note and Engagement Letter, we report that:

a. The Restated Statement of Asset and Liabilities of the Company as at December 31, 2025, March 31, 2025, March 31, 2024 and March 31, 2023 examined by us, as set out in Annexure A to this report read with Corporate Information, Basis of Preparation & Summary of Significant Accounting Policies in Annexure D has been arrived at after making such adjustments and regroupings 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 Statement of Profit and Loss of the Company for the period ended December 31, 2025 and for the Financial Years ended March 31, 2025, March 31, 2024 and March 31, 2023 examined by us, as set out in Annexure B to this report read with Corporate Information, Basis of Preparation & Summary of Significant Accounting Policies in Annexure D has been arrived at after making such adjustments and regroupings 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 Statement of Cash Flows of the Company for the period ended December 31, 2025 and for the Financial Years ended March 31, 2025, March 31, 2024 and March 31, 2023 examined by us, as set out in Annexure C to this report read with Corporate Information, Basis of Preparation & Summary of Significant Accounting Policies in Annexure D has been arrived at after making such adjustments and regroupings to the audited financial statements of the Company, as in our opinion were appropriate and more fully described in notes to restated summary statements to this report.

We have also examined the following Notes to the Restated Financial Statements of the Company set out in the Annexures A through M; prepared by the management and approved by the Board of Directors for the nine-month period ended on December 31, 2025 and the Financial Years ended March 31, 2025, March 31, 2024 and 2023. The details are provided below:

Annexure A.	Restated Statement of Assets and Liabilities
Annexure A.1	Details of Share capital as Restated
Annexure A.2	Details of Reserves and surplus as Restated
Annexure A.3	Details of Long-term borrowings as Restated
Annexure A.3.1	Details of Secured and Unsecured Loans
Annexure A.4	Details of Long-term provisions as Restated
Annexure A.5	Details of Short-term borrowings as Restated
Annexure A.6	Details of Trade payables as Restated
Annexure A.7	Details of Other current liabilities as Restated
Annexure A.8	Details of Short-term provisions as Restated
Annexure A.9	Details of Property, Plant and Equipment and Intangible Assets as Restated
Annexure A.10	Details of Deferred Tax Asset as Restated
Annexure A.11	Details of Long-term loans and advances as Restated
Annexure A.12	Details of Other Non-Current Assets as Restated
Annexure A.13	Details of Inventories as Restated
Annexure A.14	Details of Trade receivables as Restated
Annexure A.15	Details of Cash and Cash Equivalents as Restated
Annexure A.16	Details of Other current assets as Restated
Annexure B.	Restated Statement of Profit and Loss
Annexure B.1	Details of Revenue from operations as Restated
Annexure B.2	Details of Other Income as Restated
Annexure B.3	Details of Cost of Raw Materials Consumed as Restated
Annexure B.4	Details of Changes in Inventories of Finished Goods Work-in-Progress and Stock- in-Trade as Restated
Annexure B.5	Details of Employee Benefit Expenses as Restated
Annexure B.6	Details of Finance Costs as Restated
Annexure B.7	Details of Depreciation and Amortization Expenses as Restated
Annexure B.8	Details of Other Expenses as Restated
Annexure C.	Restated Statement of Cash Flows
Annexure D.	Summary of Significant Accounting Policies and Other Explanatory Information
Annexure E.	Statement of Material Adjustments to the Restated Financial Statements
Annexure F.	Statement of Tax Shelters
Annexure G.	Restated Statement of Capitalisation
Annexure H.	Restated Statement of Contingent Liabilities
Annexure I.	Restated Statement of Earnings Per Share
Annexure J.	Restated Statement of Related Party Disclosures
Annexure K.	Statement of Provision for Gratuity as Restated
Annexure L.	Statement of Ratios as Restated
Annexure M.	General Notes to Accounts

We, A G R A AND CO, Chartered Accountants (Peer Review Certificate No: 020072) have been subjected to the peer review process of the Institute of Chartered Accountants of India (ICAI) and holds the peer review certificate dated February 5, 2025 valid till February 29, 2028.

The report should not in any way be construed as a re-issuance 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 therein.

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

Disclaimer:

Our report is intended solely for use of the Board of Directors for inclusion in the / Draft Red Herring

Prospectus (DRHP)/Red Herring Prospectus/Prospectus to be filed with Securities and Exchange Board of India (SEBI), the relevant stock exchange (BSE SME) and Registrar of Companies, Uttar Pradesh - II (ROC) 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 and on behalf of A G R A AND CO.

Chartered Accountants

Firms registration number: 030057C Peer Review Certificate No: 020072

Sd/-

Faizan Ali Khan, Partner

Membership No.: 546656 Date: June 12, 2026 Place: Bangalore, Karnataka UDIN No.: 26546656MEQTFC1528