Sampat Aluminium Ltd Auditor Reports

To,

The Members,

SAMPAT ALUMINIUM LIMITED

(Formerly known as a SAMPAT ALUMINIUM PRIVATE LIMITED) AHMEDABAD

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS:

OPINION:

We have audited the accompanying financial statements of SAMPAT ALUMINIUM LIMITED (Formerly known as a SAMPAT ALUMINIUM PRIVATE LIMITED), which comprise the Balance Sheet as at March 31, 2026 and the Statement of Profit and Loss and Cash Flow Statement for the year ended and notes to the financial statements, including a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Companies Act, 2013 (‘Act) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2026, its profit and cash flows for the year ended on that date.

BASIS FOR OPINION:

We conducted our audit in accordance with the standards on auditing specified under section 143 (10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the auditors responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the code of ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the code of ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

KEY AUDIT MATTERS:

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, we do not provide a separate opinion on these matters.

Litigation and contingent liabilities relating to Goods and Services Tax (Refer Note 33)

The matter: As disclosed in Note 33, the Company carries contingent liabilities of 1,541.23 lakh in respect of Goods and Services Tax demands of earlier years, which the Company has disputed and against which replies/appeals have been filed before the appropriate authorities and which are pending adjudication. The amount is significant in relation to the Companys net worth of

5,667.59 lakh. Whether an outflow of resources is probable — so that a provision is required under AS 29 — or only possible, so that disclosure alone is appropriate, and the measurement of any such provision, involves significant management judgment based on the interpretation of tax law, the status of each proceeding and the expected outcome. Because of the magnitude of the amounts and the judgment and inherent uncertainty involved, we determined this to be a key audit matter. How our audit addressed the matter: We obtained an understanding of, and evaluated the design of, managements process for identifying, monitoring and assessing tax litigation. We read the underlying demand orders, show-cause notices, replies and appeal acknowledgements; we evaluated managements assessment of the likely outcome; we assessed the appropriateness of the classification of the amounts as contingent liabilities rather than provisions with reference to AS 29; we tested the completeness and accuracy of the disclosure in Note 33 against the underlying records; and we obtained written representations from management. Based on the procedures performed, we found managements classification and the related disclosure to be reasonable.

INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORS REPORT THEREON:

The Companys board of directors is responsible for the preparation of the other information. The other information comprises the information included in the Boards Report including Annexures to Boards Report, Business Responsibility Report but does not include the financial statements and our auditors report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

MANAGEMENTS RESPONSIBILITY FOR THE FINANCIAL STATEMENTS:

The Companys Board of Directors is responsible for the matters in section 134(5) of the Act with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of internal financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The board of directors are also responsible for overseeing the Companys financial reporting process.

AUDITORS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS:

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. Materiality is the magnitude of misstatements in the Financial Statements that individually or in aggregate, make is probable that economic decisions of a reasonably knowledgeable user of Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in Financial Statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS:

1. As required by The Companies (Auditors Report) Order, 2020 issued by The Central Government Of India in term of section 143 (11) of The Companies Act, 2013, we enclose in the Annexure-A hereto a statement on the matters specified in paragraphs 3 and 4 of the said order, to the extent applicable to the company.

2. As required by section 143(3) of the Act, we report that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

b) In our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;

c) The Balance Sheet, Statement of Profit and Loss & Cash Flow Statement dealt with by this Report are in agreement with the books of account; d) In our opinion, the aforesaid financial statements comply with the accounting standards specified under section 133 of the Act, read with rule 7 of the Companies (Accounts) Rules, 2014;

e) On the basis of written representations received from the directors as on March 31st, 2026, and taken on record by the Board of Directors, none of the directors is disqualified as on March 31st, 2026, from being appointed as a director in terms of sub-section (2) of section 164 of the Companies Act, 2013;

f) With respect to the adequacy of internal financial control over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate report in

Annexure-B; and

g) With respect to the matter to be included in the Auditors Report under Section 197(16) of the Act: In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during the current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director is not in excess of the limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the Act which are required to be commented upon by us.

h) With respect to the other matters included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financial position except for following;

Name of the statue	Nature of dues	Period to which amount relates (AY)	Amount (Rs in lacs)	Forum where the dispute is pending
Income Tax act 1961	Income Tax	2016	0.29	CPC
Income Tax act 1961	Income Tax	2018	4.52	CPC
Income Tax act 1961	Income Tax	2019	0.73	CPC
Goods and Service Tax 2017	Goods and Service Tax	Refer Annexure- C	1541.23	Refer Annexure- C

ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses; and

iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

iv. a) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person or entity, including foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

b) The Management has represented, that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; c) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material misstatement.

V. Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of account for the period ended March 31, 2026 which has a feature of recording audit trail (edit log) facility. The company has not provided audit trail records for the entire period ended on March 31, 2026. In the absence of audit trail records, we are unable to comment whether audit trail feature of the said software was enabled and operated throughout the period for all relevant transactions in the software or whether there were any instances of the audit trail feature been tampered with. Since the company has not provided audit trail records we are unable to comment on whether audit trail has been preserved by the company as per statutory requirement of record retention or not.

	FOR AND ON BEHALF OF
	S. N. SHAH & ASSOCIATES,
	CHARTERED ACCOUNTANTS,
	FIRM REG. NO. 109782W
	PRIYAM S SHAH
PLACE: AHMEDABAD	PARTNER
DATED:28/05/2026	M. No. 144892
UDIN: 26144892HGQJUD2890

ANNEXURE-A TO THE INDEPENDENT AUDITORS REPORT

The Annexure referred to Our Report of even date to the members of SAMPAT ALUMINIUM LIMITED on the accounts of the company for the year ended 31st March, 2026: On the basis of such checks of the books and records of the company as we considered appropriate and according to the information and explanation given to us during the course of audit read with Notes on Accounts to the Financial Statements, we further report that: i. In respect of Property, Plant and Equipment: a) According to the information and explanations given to us, the company has maintained proper records showing full particulars including quantitative details and situation of property, plant and equipment. b) According to the information and explanations given to us, the company did not have any intangible assets. c) As explained to us, the management in accordance with a phased program of verification adopted by the company has physically verified the fixed asset. To the best of our knowledge, no material discrepancies have been noticed on such verification or have been reported to us. d) According to the information and explanations given to us and on the basis of the examination of the records of the company, the title deeds of immovable properties disclosed in the financial statements as part of property, plant & equipment are held in the name of the Company as at the balance sheet date. e) The Company has not revalued any of its property, plant and equipment and intangible assets during the year.

f) According to the information and explanations given to us no proceedings have been initiated during the year or are pending against the Company as at March 31, 2026 for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

ii. In respect of its Inventories: a) As explained to us, the inventories have been physically verified by the management of the company during the year at reasonable interval. In our opinion, the coverage and procedure of such verification by the Management of the company is appropriate having regard to the size of the Company and the nature of its operations. According to the information and explanations given to us, no discrepancies of 10% or more in the aggregate for each class of inventories were noticed on such physical verification of inventories when compared with books of account. b) According to the information and explanations given to us and relevant records produced, the Company has been sanctioned working capital limits in excess of Rs.5.00 Crores in aggregate from banks on the basis of security of its current assets. Copies of quarterly statements and returns, furnished to banks have also been made available for our verification. According to the information and explanations given to us and on the basis of verification of unaudited books of accounts for the first three quarters of the year, audited books of account for the year and quarterly returns submitted to the banks, we are of the opinion that there have been variation of more than 10.00% in net current assets as submitted to the banks and as per books of account.

Sr. No.	Quarter Ended	Name of Bank	Particulars of current assets provided by way of security	Amount as per Audited/Unaudited books of accounts	Amount as per quarterly statement submitted to bank	Amount and % difference as per quarterly statement over books of accounts	Reasons for material differences
1.	September 2025	UBI Bank	Stock	4353.45 Lacs	3799.50 Lacs	553.94 lacs (12.72%)	As explained to us, the reasons for variances is on account of submission of Stock & book debt Statement on provisional accounting records upto the date of submission of Stock & book debt Statement to Bank.
2.	March 2026	UBI Bank	Stock	4336.58 Lacs	3797.70 Lacs	538.88 Lacs (12.43%)	As explained to us, the reasons for variances is on account of submission of Stock & book debt Statement on provisional accounting records upto the date of submission of Stock & book debt Statement to Bank.

iii. Investments/Guarantee/Security/Loans/Advances Granted: a) During the year the company has provided corporate guarantee on behalf of the company in which director are substantially interested, details are as follows:

		Sanction	Amount As On
Particulars	Guarantees	Limit(Rs in	31/03/2026 (Rs in
		lacs)	Lacs)
Deora Wires and Machinery	Corporate	300.00	129.36
Pvt. Ltd.	Guarantee		(Cr. balance)

b) According to the information and explanation given to us guarantees provided, and the terms and conditions and guarantees provided are not prejudicial to the companys interest. c) The Company has during the year, not made investments in, or granted any loans or advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties. Accordingly, the provisions of clauses 3(iii)c) to 3 (iii)(f) of the Order are not applicable.

iv. According to the information and explanations given to us, the company has complied with provisions of section 185 and 186 in respect of transaction of the nature referred to in Sections 185 and 186 of The Companies Act, 2013 in respect of any loans, investments, guarantees and security. v. According to the information and explanations given to us, the company has complied with the directives issued by the Reserve Bank of India, if applicable and the provisions Section 73 to 76 of The Companies Act, 2013, and The Companies (Acceptance of Deposits) Rules, 2014 in respect of deposits, if any, accepted by the company. According to the information and explanations given to us, the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal has not issued any order in respect of the deposits accepted by the company. vi. We have broadly reviewed the cost records maintained by the Company pursuant to rules made by the Central Government under section 148 (1). We are of the opinion that prima facie the prescribed accounts and records have been maintained and made. We have however, not made a detailed examination of these records with a view to determine whether they are accurate or complete.

vii. In respect of Statutory Dues: a) As per the information & explanations furnished to us, in our opinion the company is generally regular in depositing with appropriate authorities undisputed statutory dues of T.D.S., GST, Employee Provident Fund, ESIC and other material statutory dues applicable to it. There were no outstanding as at 31st March, 2026 of undisputed liabilities outstanding for more than six months except following,

Sr. No. Particulars	Amount (in Lacs) O/s more than 6 months(Rs in lacs)
1 TDS Demand	2.34

b) According to information and explanations given to us and so far as appears from our examination of books of account, there were no statutory dues outstanding as at 31st March, 2026 which have not been deposited on account of any dispute except for.

Name of the statue	Nature of dues	Period to which amount relates (AY)	Amount (Rs in lacs)	Forum where the dispute is pending
Income Tax Act 1961	Income Tax	2016	0.29	CPC
Income Tax Act 1961	Income Tax	2018	4.52	CPC
Income Tax act 1961	Income Tax	2019	0.73	CPC
Goods and Service Tax Act 2017	Goods and Service Tax	Refer to Annexure-C	1541.23	Refer to Annexure-C

viii. According to the information and explanations given to us and so far as appears from our examination of books of account and other records as applicable, there were no transactions relating to previously unrecorded income that were surrendered or disclosed as income in the tax assessments under the Income Tax Act, 1961 (43 of 1961) during the year. ix. In respect of Loans & Other Borrowings: a) According to the information and explanations given to us, the company has repaid the principal amount and made payment of interest on loans or borrowings taken by it from banks. b) According to the information and explanations given to us so far as appears from our examination of relevant records, we are of the opinion that the company has not been declared willful defaulter by any bank or financial institution or any other lender. c) In our opinion and according to the information and explanations given to us, the company has applied the term loans obtained during the year for the purpose for which they were obtained. d) According to the information and explanations given to us, and the audit procedures performed by us, and on an overall examination of the financial statements of the company for the year, we are of the opinion that funds raised on short-term basis have, prima facie, not been used during the year for long-term purposes by the company. e) According to the information and explanations given to us and on an overall examination of the financial statements of the company, we report that the company has not taken any funds during the year from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures, if any and hence reporting under clause 3(ix)(e) of the Order is not applicable. f) According to the information and explanations given to us and audit procedures performed by us, we report that the company has not raised any loan during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies, if any and hence reporting under clause 3(ix)(f) of the Order is not applicable.

x. In respect of moneys raised by issue of securities: a) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has raised moneys by way of initial public offer amounting to Rs. 3052.80 lakhs during the year and In our opinion and according to the information and explanation given to us, the company has utilized money moneys raised through initial public offer for the purpose for which they were raised.

b) According to the information and explanation given to us, the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully, partially or optionally convertible) during the year.

xi. In respect of Frauds and Whistle Blower Complaints: a) According to the information and explanations given to us and to the best of our knowledge, no material fraud by the Company or on the Company has been noticed or reported to us by the management during the year.

b) According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Companies Act, 2013 has been filed by the auditors in Form ADT- 4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

c) According to the information and explanations given to us, the Company has not received any whistle-blower complaints from any party during the year.

xii. As the company is not the Nidhi Company, clause (xii) of paragraph 3 of The Companies

(Auditors Report) Order, 2020 is not applicable to it.

xiii. According to the information and explanations given to us, the company is in compliance with the provisions of sections 177 and 188 of the Companies Act, 2013, where applicable, for related party transactions and the details of related party transactions have been disclosed in the Notes to the Financial Statements in accordance with the applicable Accounting Standards. xiv. In our opinion, the company has adequate internal audit system commensurate with size and the nature of its business, the company also under goes internal audit on yearly basis, we have also considered internal audit report issued till the date of audit report for the period under audit in determining nature, timing and extent of our audit procedures..

xv. According to the information and explanations given to us, the Company has not entered into any non-cash transaction with directors or persons connected with them and hence clause (xv) of paragraph 3 of The Companies (Auditors Report) Order, 2020 is not applicable to it during the year.

xvi. In respect of Registration Under Section 45-IA of the Reserve Bank of India Act, 1934/CIC a) As the company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934), clause (xvi)(a) of paragraph 3 of The Companies (Auditors Report) Order, 2020 is not applicable to it.

b) According to the information and explanations given to us, the Company has not conducted any Non-Banking Financial or Housing Finance activities during the year and clause (xvi)(b) of paragraph 3 of The Companies (Auditors Report) Order, 2020 is not applicable to it.

c) As the company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India, clause (xvi)(c) of paragraph 3 of The Companies (Auditors Report) Order, 2020 is not applicable to it.

d) According to the information and explanations given to us, the company has no Core Investment Company (CIC) as part of its group, clause (xvi)(c) of paragraph 3 of The Companies (Auditors Report) Order, 2020 is not applicable to it.

xvii. According to the information and explanations given to us and on the basis of the examination of the records of the company, the company has not incurred cash losses in the financial year and in the immediately preceding financial year.

xviii. There has been no resignation of the statutory auditors of the Company during the year and hence reporting under clause (xviii) of paragraph 3 of The Companies (Auditors Report) Order, 2020 is not applicable.

xix. According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

xx. In respect of other than ongoing projects, the company has transferred unspent amount to a

Fund specified in Schedule VII to the Companies Act, 2013 within a period of six months of the expiry of the financial year in compliance with second proviso to sub-section (5) of section 135 of the said Act, except in respect of the following.

			(Rs in lacs)
Financial Year	Amount unspent on Corporate Social Responsibility activities "other than Ongoing Projects"	Amount Transferred to Fund Specified in Schedule VII within 6 months from the end of the Financial Year	Amount not transferred up to Audit Report Date
2025-26	13.18	-	13.18

xxi. Company doesnt have subsidiaries or associate entities to prepare Consolidated Financial

Statement. Accordingly, reporting under Paragraph 3(xxi) of the order is not applicable for the period.

	FOR AND ON BEHALF OF
	S N SHAH & ASSOCIATES,
	CHARTERED ACCOUNTANTS,
	FIRM REG. NO. 109782W
UDIN: 26144892HGQJUD2890	PRIYAM S SHAH
PLACE: AHMEDABAD	PARTNER
DATED:28/05/2026	M. No. 144892

ANNEXURE "B" TO THE INDEPENDENT AUDITORS REPORT

[REFERRED TO IN PARAGRAPH 2(f) UNDER "REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS SECTION OF OUR REPORT OF EVEN DATE] FINANCIAL YEAR ENDED 31ST MARCH 2026

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of SAMPAT ALUMINIUM LIMITED ("the Company") as of March 31st, 2026 in conjunction with our audit of the financial statements of the company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Board of Directors of the company is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the companys internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the Standards on Auditing prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls system over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion and to the best of our information and according to the information and explanations given to us, the company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were commensurate with the nature of the business of the company and operating effectively as at March 31st, 2026, based on the internal control over financial reporting criteria established by the company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

We draw attention to the fact that the Company did not make available audit trail (edit log) records for the year, and accordingly we are unable to comment on whether the audit trail feature operated effectively throughout the period.

	FOR AND ON BEHALF OF
	S N SHAH & ASSOCIATES,
	CHARTERED ACCOUNTANTS,
	FIRM REG. NO. 109782W
UDIN: 26144892HGQJUD2890	PRIYAM S SHAH
PLACE: AHMEDABAD	PARTNER
DATED:28/05/2026	M. No. 144892

Annexure-C

Sr. No.	Year	Authority	Defaulting Period	Form/ Order No./ Reference No. / Show Cause Notice No.	Amount (including Penalty & Interest)
1	2017-2018	The State Tax Officer, Enforcement Division 3	Intimation dated 05/09/2023, a Show Cause Notice and Summary dated 21/09/2023 Order Dated 29/12/2023 Show Cause Notice dated 28/09/2023	Form GST DRC-01 vide Reference No.: ZD240923004485H Form GST DRC-01 vide Reference no. ZD2409230227776 Assessment order and Form GST DRC-07 vide order no: ZD2412231094311 SCN: ZD240923046589X	10,88,191/-
2	2017-2018	The State Tax Officer, Ghatak 25 (Kalol), Range -7, Gujarat	form dated 28/12/2023 under section 73 for F.Y. 2017-18 Intimation dated 26/07/2024	Form DRC-07 vide Reference No.: ZD241223098049C Form GST DRC-01 vide Reference No.: ZD2407240744186	16,35,710/-
3	2017-2018	The Assistant Commissioner, Ghatak 25 (Kalol), Range 7, Division 3, Gujarat	Show Cause Notice and Summary thereof in Form GST DRC-01 dated 01/08/2024 for F.Y. March 2017-18 Order Dated 31/12/2024 Intimation of tax ascertained as being payable under section 74(5) dated 30/11/2022 for Period Jan- 2018 to March 2018	SCN u/s 73/74 and GST DRC-01 vide Reference No: ZD240824003273R Assessment order and Form GST DRC-07 Form GST DRC-01A vide order no. ZD2411220272326 Case ID: AD2411220120805	1,47,97,358/-
4	2017-2018	The State Tax Officer, Enforcement Division 3	Show Cause Notice and Summary thereof in Form GST DRC-01 dated 11/01/2023 for F.Y. March 2017-18 Order dated 07/03/2023 Show Cause Notice dated	SCN u/s 73/74 and Form GST DRC-01 vide Reference No: ZD240123009934P Assessment order and GST DRC-07 vide Order No: ZD240323011148Y SCN:ZD240122006302D	1,34,36,706/-
5	2018-2019	**The State Tax Officer, Ghatak 25 (Kalol), Range -7, Gujarat	08/01/2022 An order dated 25/03/22 for FY 2018-19 Inmaon dat ed 05/09/2023	Order for Determination of Tax vide order no. ZD240322019944K Form GST DRC-01A vide Reference No.: ZD240923004826D	88,222/-
6	2018-2019	The State Tax Officer, Enforcement Division 3	a Show Cause Notice and Summary dated 21/09/2023 Order Dated 29/02/2024 Show Cause Notice and Summary thereof in Form GST	Form GST DRC-01 vide Reference no. ZD2409230228568 Assessment order and Form GST DRC-07 vide order no: ZD240224064279E SCN u/s 73/74 and GST DRC-01 vide Reference	99,88,135/-
7	2018-2019	The State Tax Officer, Ghatak 25 (Kalol), Range -7, Gujarat	DRC-01 dated 27/12/2023 Order Dated 13/03/2024 Intimation dated 13/04/2024	No: ZD2412230866668 Assessment order and GST DRC-07 vide Order No: ZD240324028323V Form GST DRC-01A vide Reference No.: ZD240424020716O	7,31,484/-
8	2019-2020	The Assistant Commissioner, Ghatak 25 (Kalol), Range -7 Gujarat	Show Cause Notice and Summary thereof in Form GST DRC-01 dated 28/05/2024 Drop Proceeding dated 23/08/2024 Intimation dated 03/08/2024, a Show Cause Notice and	SCN u/s 73/74 and GST DRC-01 vide Reference No: ZD2405240914569 Order no: ZD240824085457Z Form GST DRC-01A vide order no. ZD240824010009R	10,872/-
9	2019-2020	The State Tax Officer, Ghatak 25 (Kalol), Range -7, Gujarat	Summary dated 05/08/2024, for Period Jul. 2017 to March 2018 Order Dated 31/12/2024 Show Cause Notice and Summary dated 01/01/2022	Form GST DRC-01 vide reference no. ZD240824019257D Assessment order and GST DRC-07 vide Order No: ZD2412240994780 Form GST DRC-01 vide order no. ZD240122000434A	10,17,912/-
10	2019-2020	The State Tax Officer, Ghatak 25 (Kalol), Range -7, Gujarat	Order u/s 73 dated 25/03/2022 for FY 2019-2020 Intimation dated 16/10/2023	An order for Determination of Tax vide order no. ZD240322019960Q Form GST DRC-01A vide Reference No.: ZD2410230207208	10,40,806/-
11	2019-2020	**The State Tax Officer, Enforcement Division 3	Show Cause Notice and Summary dated 29/02/2024 Order Dated 15/04/2024 Intimation dated 16/10/2023	Form GST DRC-01 vide reference no. ZD240224064362R Assessment order and GST DRC-07 vide Order No: ZD240424023533T Form GST DRC-01A vide Reference No.: ZD241023020772Z	1,34,27,263/-
12	2020-2021	**The State Tax Officer	Show Cause Notice and Summary dated 29/02/2024 Order Dated 15/04/2024 Intimation of Tax ascertained as being payable under section 73(5) dated 13/06/2024 for F.Y. April 2020 to March 2021	Form GST DRC-01 vide order no. ZD240224064378E Assessment order and GST DRC-07 vide Order No: ZD240424023617L Form GST DRC-01A vide Reference no. ZD2406240456197	23,41,116/-
13	2020-2021	The Assistant Commissioner, Ghatak 25(Kalol), Range -7, Division 3, Gujarat	a Show Cause Notice and Summary dated 21/10/2024 Drop Proceeding dated 06/12/2024 Intimation of Tax ascertained as being payable under section 74 dated 14/06/2024	Form GST DRC-01 vide reference no. ZD241024046667G Order no: ZD241224019354S Form GST DRC-01A vide Reference no.ZD2406240536593	2,093/-
14	2020-2021	The Assistant Commissioner, Ghatak 25(Kalol), Range -7, Division 3, Gujarat	for F.Y. April 2020 to March 2021 a Show Cause Notice and Summary dated 11/11/2024 Order dated 10/01/2025 Inmaon dat ed 16/10/2023	Form GST DRC-01 vide reference no.ZD2411240181143 Assessment order and GST DRC-07 vide Order No: ZD240125041258P Form GST DRC-01A vide Reference No.: ZD2410230208115	2,14,23,888/-
15	2021-2022	**The State Tax Officer, Enforcement Division 3	a Show Cause Notice and Summary dated 29/02/2024 Order Dated 15/04/2024 Inmaon dat ed 16/10/2023	Form GST DRC-01 vide Reference no. ZD240224064393M Assessment order and Form GST DRC-07 vide order no:ZD240424023651T Form GST DRC-01A vide Reference No.: ZD2410230208511	93,27,168/-
16	2022-2023	**The State Tax Officer, Enforcement Division 3	a Show Cause Notice and Summary dated 29/02/2024 Order Dated 15/04/2024 Inmaon dat ed 16/10/2023	Form GST DRC-01 vide Reference no. ZD240224064441T Assessment order and Form GST DRC-07 vide order no:ZD240424023681Q Form GST DRC-01A vide Reference No.: ZD241023020893T	2,20,23,844/-
17	2023-2024	**The State Tax Officer, Enforcement Division 3	a Show Cause Notice and Summary dated 29/02/2024 Order Dated 15/04/2024	Form GST DRC-01 vide Reference no. ZD240224064538E Assessment order and Form GST DRC-07 vide order no:ZD240424048103V	14,01,853/-
18	2023-2024	The State Tax Officer, Gujarat issued a Show Cause Notice	Summary notice Under Section 129(3) and and order dated 24/03/2024 for F.Y. APR 2023 - MAR 2024 Inmaon dat ed 24/04/2025	Form GST DRC-01A vide order no. ZD240324047258H Form GST DRC-01A vide Reference No.: ZD240425102464S	7,54,960/-
19	2018-2019	The State Tax Officer, Enforcement Division 3	a Show Cause Notice and Summary dated 04/06/2025 Order Dated 10/12/2025 Inmaon dat ed 19/09/2025	Form GST DRC-01 vide Reference no. ZD240625014643L Assessment order and Form GST DRC-07 vide order no:ZD241225046170X Form GST DRC-01A vide Reference No.:ZD2409250665716	2,11,98,256/-
20	2019-2020	The State Tax Officer, Enforcement Division 3	a Show Cause Notice and Summary dated 29/09/2025 Order Dated 25/03/2026 Inmaon dat ed 24/09/2025	Form GST DRC-01 vide Reference no.ZD240925111297C Assessment order and Form GST DRC-07 vide order no:ZD240326084174G Form GST DRC-01A vide Reference No.:ZD2409250873632	1,66,46,802/-
21	2021-2022	The State Tax Officer, Ghatak 25 (Kalol), Range -7, Gujarat	a Show Cause Notice and Summary dated 29/09/2025 Order Dated 19/12/2025	Form GST DRC-01 vide Reference no.ZD240925108571F Assessment order and Form GST DRC-07 vide order no:ZD241225091314M	17,40,038/-
		Total			15,41,22,678/-

SAMPAT ALUMINIUM LIMITED (Formerly Known as Sampat Aluminium Private Limited)

(CIN: U27203GJ1999PLC036129)