Sharika Enterprises Ltd Auditor Reports

To the board of directors of sharika enterprises limited report on the audit of the standalone financial results

Opinion

We have audited the accompanying standalone financial statements of sharika enterprises limited (the "company”), which comprise the balance sheet as at 31 march 2025, the statement of profit and loss (including other comprehensive income), the statement of changes in equity and the statement of cash flows for the year ended on that date and notes to the standalone financial statements, including a summary of material accounting policies and other explanatory information (hereinafter referred to as the "standalone financial statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the companies act, 2013 (the "act”) in the manner so required and give a true and fair view in conformity with the indian accounting standards prescribed under section 133 of the act, ("ind as”) and other accounting principles generally accepted in india, of the state of affairs of the company as at 31 march 2025 and its profit, total comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis for opinion

We conducted our audit of the standalone financial statements in accordance with the standards on auditing ("sas”) specified under section 143(10) of the act. Our responsibilities under those standards are further described in the auditors responsibilities for the audit of the standalone 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 ("icai”) together with the ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the act and the rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the icais code of ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.

Emphasis of matter

We draw attention to note 5 of the accompanying standalone financial statements regarding the investment and loans made by the company in m/s sharika spintech private limited ("spintech”), a subsidiary, amounting to rs. 566.25 lakhs as at 31 march 2025. The recoverability of this investment and the related loans is based on a valuation performed by an external expert using the discounted cash flow method, which is dependent on the achievement of certain key assumptions considered in the valuation, such as technology adoption, cost efficiencies, and execution of business plans.

Based on its internal assessment and the valuation report obtained from the external expert, the management is of the view that the carrying value of the aforesaid investment and loans is appropriate. Accordingly, no adjustments have been made in the accompanying standalone financial statements for the year ended 31 march 2025.

Our opinion is not modified in respect of this matter.

Key audit matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone financial statements of the current period. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matters described below to be the key audit matters to be communicated in our report.

Key Audit Matter	How our audit addressed the key audit matter
Revenue recognition for long term Construction contracts (as described in note 2.2(d) and 29 of the standalone financial statements)
The Companys significant portion of business is undertaken through long term construction contracts which are in nature of engineering, procurement and construction basis.	Our audit procedures included but were not limited to:
Revenue from these contracts, where the performance obligation is satisfied over time, is recognised in proportion to the stage of completion of the contract. The stage of completion is assessed by reference to survey of work performed.	• Read the Companys revenue recognition accounting policy and assessed compliance of the policy in terms of Ind AS 115 - Revenue from Contracts with Customers
Revenue recognition from these contracts involves significant degree of judgments and estimation including identification of contractual obligations, the Companys rights to receive payments for performance obligation completed till date which includes measuring and recognition of contract assets, change of scope and determination of onerous obligations which include estimation of contract costs.	• Obtained an understanding of the Companys processes and controls for revenue recognition process, evaluated the design, and tested the operating effectiveness of the controls over revenue recognitio
Revenue recognition is significant to the standalone financial statements based on the quantitative materiality and nature of construction contracts involves significant judgements as explained above. Accordingly, we considered this as a key audit matter.	• Performed test of details, on a sample basis, and read the underlying customer contracts for terms and conditions, verified underlying supporting used in the determination of stage of completion and other relevant supporting documents such as joint measurement certificate / measurement book from independent engineers of the customer or authorized representative of customer, correspondence with customer etc.
	• Performed analytical audit procedures for analysing project profitability over a period including for identification of low or negative margin project. Assess the level of provisioning required, if any for any loss/negative margin projects including for onerous obligations.
	• Assessed the relevant disclosures made by the company in accordance with Ind AS 115.
	Based on our work as stated above, no significant deviations were observed.
Valuation of trade receivables in view of the risk of credit losses (as described in note 2.2(e) and 11 of the standalone financial statement)
Trade receivables is a significant item in the Companys standalone financial statements as at 31 March 2025 and assumptions used for estimating the credit loss on receivables is an area which is determined by managements judgment.	Our audit procedures included but were not limited to:
The Company makes an assessment of the estimated credit losses on trade receivables based on credit risk, project status, past history, latest discussion/correspondence with the customer. Given the significance of these receivables in the standalone financial statements as at 31 March 2025, we determined this to be a key audit matter.	• Assessed the Companys processes and controls for monitoring trade receivables and reviewing ageing reports to identify collection risks.
	• Discussed material overdue balances with management and inquiring about their collectability.
	• Verified subsequent receipts from customers after year-end.
	• Verified assumptions used for impairment assessment through analysis of ageing, material overdue balances, and specific credit risk indicators.
	• Assessed the reasonableness of the allowance for doubtful debts.
	Based on our work as stated above, no significant deviations were observed.
Impairment assessment of investment and loan given (as described in note 2.2(e) and 5 of the standalone financial statement)
The Company has significant investment in equity shares and loans given- Inter corporate deposit. These investments and loans are carried at cost less impairment in the standalone financial statements. As per Ind AS 36 Impairment of Assets, the Company is required to assess at each reporting date whether there is any indication of impairment in respect of such investments and loans.	Obtained an understanding of the Companys process for impairment assessment of investments and loans given.
The assessment of impairment involves significant judgment and estimation, including evaluation of business plans, projected future cash flows, discount rates, growth assumptions, and the timing of realization of these cash flows. Given the materiality of the balances and the degree of subjectivity in assumptions, this was considered a key audit matter.	• Reviewed managements assessment of indicators of impairment.
	• Reviewed the business plans and financial projections of the subsidiary as approved by management.
	• Assessed key assumptions such as revenue growth, margins, and discount rates applied in the cash flow forecasts used for impairment analysis.
	• Reviewed the adequacy and appropriateness of allowance for credit losses based on available information and evaluating managements assessment of the recoverability.
	• Verified disclosures made in the standalone financial statements in accordance with the requirements of Ind AS 36.
	Based on our work as stated above, no significant deviations were observed.

Information other than the standalone financial statements and auditors report thereon

The companys board of directors is responsible for the other information. The other information comprises the information included in the management discussion and analysis, boards report including annexures to boards report, business responsibility and sustainability report, corporate governance and shareholders information, but does not include the consolidated financial statements, standalone financial statements and our auditors report thereon.

Our opinion on the standalone 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 standalone 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.

Responsibilities of management and board of directors for the standalone financial statements

The companys board of directors is responsible for the matters stated in section 134(5) of the act with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance, including other comprehensive income, changes in equity and cash flows of the company in accordance with the accounting principles generally accepted in india, including ind as specified under section 133 of the act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the act for safeguarding the assets of the company and for preventing and detecting 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 adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial statements, management and board of directors are 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 the board of directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

The companys board of directors are also responsible for overseeing the companys financial reporting process.

Auditors responsibilities for the audit of the standalone financial statements

Our objectives are to obtain reasonable assurance about whether the standalone 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 standalone financial statements.

As part of an audit in accordance with sas, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• identify and assess the risks of material misstatement of the standalone 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 financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to standalone financial statements 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 the 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 standalone 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 standalone financial statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the standalone financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the standalone 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 financial controls 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 standalone 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.

Other matters

The comparative standalone financial statements of the company for the year ended 31 march 2024 was audited by predecessor auditor who had expressed an unmodified opinion on those standalone financial statements on 27 may 2024. Our

Conclusion is not modified in respect of this matter.

Report on other legal and regulatory requirements

1. As required by section 143(3) of the act, based on our audit we report that:

I. 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.

Ii. In our opinion, proper books of account as required by law have been kept by the company so far as it appears from our examination of those books.

Iii. The balance sheet, the statement of profit and loss including other comprehensive income, statement of changes in equity and the statement of cash flows dealt with by this report are in agreement with the books of account.

Iv. In our opinion, the aforesaid standalone financial statements comply with the ind as specified under section 133 of the act.

V. On the basis of the written representations received from the directors as on 31 march 2025 taken on record by the board of directors, none of the directors is disqualified as on 31 march 2025 from being appointed as a director in terms of section 164(2) of the act.

Vi. With respect to the adequacy of the internal financial controls with reference to standalone financial statements of the company and the operating effectiveness of such controls, refer to our separate report in annexure a”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the companys internal financial controls with reference to standalone financial statements.

Vii. With respect to the other matters to be included in the auditors report in accordance with the requirements of section 197(16) of the act, as amended, in our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the company to its directors during the year is in accordance with the provisions of section 197 of the act

Viii. With respect to the other matters to be included in the auditors report in accordance with rule 11 of the companies (audit and auditors) rules, 2014, as amended, in our opinion and to the best of our information and according to the explanations given to us:

I) the company has disclosed the impact of pending litigations on its financial position in its standalone financial statements. Refer note 43 to the standalone financial statements.

Ii) the company has made provision as required under applicable law or accounting standards for material foreseeable losses. The company did not have any long-term derivative contracts.

Iii) there has been no delay in transferring amounts, 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) the company has not declared or paid any dividend during the year and has not proposed final dividend for the year.

Vi) based on our examination, which included test checks, except for the property, plant and equipment and payroll records, the company has used accounting software system for maintaining its books of account for the financial year ended 31 march 2025 which have the feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software.

Further, for the periods where audit trail (edit log) facility was enabled and operated for the respective accounting software, we did not come across any instance of the audit trail feature being tampered with and the audit trail has been preserved by the company as per the statutory requirements for record retention.

2. As required by the companies (auditors report) order, 2020 (the "order”) issued by the central government in terms of section 143(11) of the act, we give in "annexure b” a statement on the matters specified in paragraphs 3 and 4 of the order.

Annexure "a" to the independent auditors report

(referred to in paragraph 1(f) under report on other legal and regulatory requirements section of our report to the members of sharika enterprises limited even date)

Report on the internal financial controls with reference to standalone financial statements under clause (i) of subsection 3 of section 143 of the companies act, 2013 (the "act")

We have audited the internal financial controls with reference to standalone financial statements of sharika enterprises limited (the "company”) as of 31 march 2025 in conjunction with our audit of the standalone financial statements of the company for the year ended on that date.

Managements and board of directors responsibilities for internal financial controls

The companys management and board of directors are responsible for establishing and maintaining internal financial controls with reference to standalone financial statements 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 (the "icai”). 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 act.

Auditors responsibility

Our responsibility is to express an opinion on the companys internal financial controls with reference to standalone financial statements 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”) issued by the icai and the standards on auditing prescribed under section 143(10) of the act, to the extent applicable to an audit of internal financial controls with reference to standalone financial statements. 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 with reference to standalone financial statements 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 with reference to standalone financial statements and their operating effectiveness.

Our audit of internal financial controls with reference to standalone financial statements included obtaining an understanding of internal financial controls with reference to standalone financial statements, 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 judgement, including the assessment of the risks of material misstatement of the standalone 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 with reference to standalone financial statements.

Meaning of internal financial controls with reference to standalone financial statements

A companys internal financial control with reference to standalone financial statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of standalone financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal financial control with reference to standalone financial statements 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 standalone financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys assets that could have a material effect on the standalone financial statements.

Inherent limitations of internal financial controls with reference to standalone financial statements

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 with reference to standalone financial statements to future periods are subject to the risk that the internal financial control with reference to standalone financial statements 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, to the best of our information and according to the explanations given to us, the company has, in all material respects, an adequate internal financial controls with reference to standalone financial statements and such internal financial controls with reference to standalone financial statements were operating effectively as at 31 march 2025, based on the criteria for internal financial control with reference to standalone financial statements 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 icai.

Annexure b to the independent auditors report

(referred to in paragraph 2 under report on other legal and regulatory requirements section of our report to the members

Of sharika enterprises limited of even date)

To the best of our information and according to the explanations provided to us by the company and the books of account and

Records examined by us in the normal course of audit, we state that:

I. In respect of the companys property, plant and equipment, right-of-use assets and intangible assets:

(a) (a) the company has maintained proper records showing full particulars, including quantitative details and situation of property, plant and equipment and relevant details of right-of-use assets.

(b) the company does not have any intangible assets and hence reporting under clause 3(i)(a)(b) of the order is not applicable.

(b) the property, plant and equipment and investment property have been physically verified by the management during the year and no material discrepancies were noticed on such verification. In our opinion, the frequency of physical verification is reasonable having regard to the size of the company and the nature of its assets.

(c) the company does not have any immovable properties as at the balance sheet date, except a leasehold property where the company is the lessee and the lease agreement is duly executed in favour of the lessee.

(d) the company has not revalued any of its property, plant and equipment (including right-of-use assets) during the year.

(e) no proceedings have been initiated during the year or are pending against the company as at 31 march 2025 for holding any benami property under the benami transactions (prohibition) act, 1988 (as amended in 2016) and rules made thereunder.

Ii. (a) the inventories have been physically verified by the management during the year, and in our opinion, the coverage

And procedure of such verification by the management is appropriate having regard to the size of the company and the nature of its business. No discrepancies of 10% or more in the aggregate for each class of inventory were noticed as compared to the book records.

(b) the company has been sanctioned working capital limits in excess of five crore rupees in aggregate from banks financial institution on the basis of security of current assets. There is no material difference between the books of account of the respective quarters and the quarterly returns/statements or revised returns/statements filed by the company with the banks.

Iii. The company has made investments in companies, granted unsecured loans to companies, in respect of which the requisite information is as below. The company has not made any investments or granted any unsecured loans to firms, limited liability partnerships or any other parties during the year. The company has not provided any guarantee or security or granted any secured loans or secured and unsecured advances in the nature of loans to companies, firms or limited liability partnerships or any other parties during the year.

Rs. In lakhs

Particulars	Loans*	Advances in nature of loan
Aggregate amount granted/ provided during the year
- subsidiaries	91.25	-
Balance outstanding as at balance sheet date in respect of above cases
- subsidiaries	91.25	-

* includes intercorporate deposit classified into investments in additional equity.

The company has not provided any guarantee or security to any other entity during the year.

(b) in our opinion, the investments made and the terms and conditions of the grant of loans, during the year are, prima facie, not prejudicial to the interest of the company.

(c) in respect of loans granted by the company, the principal is repayable on demand, and the terms of payment of interest have not been stipulated. Accordingly, we are unable to comment on whether the repayments of principal and interest are regular.

(d) as the principal of the loans granted is repayable on demand and no demand for repayment has been made as of the reporting date, and since the terms of payment of interest have not been stipulated in respect of these loans, we are unable to comment on whether any amount is overdue for more than 90 days.

(e) no loan granted by the company which has fallen due during the year, has been renewed or extended or fresh loans

Granted to settle the overdue of existing loans given to the same parties.

(f) the company has granted loans or advances in the nature of loans that are repayable on demand or without specifying any terms or period of repayment-

Rs. In lakhs

Particulars	Amount of loan given to related parties
Aggregate amount of loans
- repayable on demand (a)	91.25
- agreement does not specify any terms or period of repayment (b)	-
Total (a+b)	91.25
Percentage of to the total loans	100%

Iv. The company has not provided any guarantee or security as specified under section 186 of the companies act, 2013 ("the act”). In our opinion, the company has complied with the provisions of sections 185 and 186 of the act in respect of investments made and loans given, except for the instances mentioned below.

Rs. In lakhs

Particulars	Balance as at balance sheet date
Loan given without interest
Subsidiary (other than wholly own subsidiary)-
- sharika smartec private limited	55.46
Others
- inventivepreneur private limited*	9.50
- njp entrade international private limited*	240.12
Others (b)	249.62

* provision for impairment had been created against these inter corporate deposits refer note - 13 of standalone financial statements

V. The company has not accepted any deposit or amounts which are deemed to be deposits. Therefore, reporting under clause 3(v) of the order is not applicable.

Vi. The maintenance of cost records has not been applicable to the company as specified by the central government under

Section 148(1) of the act. Therefore, reporting under clause (vi) of the order is not applicable to the company.

Vii. In respect of statutory dues:

(a) in our opinion, the company has generally been regular in depositing undisputed statutory dues, including goods and services tax, provident fund, employees state insurance, income tax, sales tax, service tax, duty of custom, duty of excise, value added tax, cess and other material statutory dues applicable to it with the appropriate authorities.

(b) the undisputed amounts payable in respect of goods and services tax, provident fund, employees state insurance, income tax, customs duty, cess, or other statutory dues that were in arrears as at 31 march 2025 for a period of more than six months from the date they became payable are as follows:

Name of the statute	Nature of the dues*	Amount (in lakhs)	Period to which the amount relates	Date of payments
The income tax act, 1961	Income tax	0.74	Ay 2019-20	Not paid
The income tax act, 1961	Tds	0.90	Fy 2021-22	Not paid
	Tds	0.01	Fy 2020-21	Not paid
	Tds	0.02	Fy 2019-20	Not paid
	Tds	0.00	Fy 2018-19	Not paid
	Tds	0.55	Fy 2017-18	Not paid
	Tds	0.09	Fy 2016-17	Not paid
	Tds	0.26	Fy 2015-16	Not paid
	Tds	0.14	Fy 2014-15	Not paid
	Tds	0.42	Fy 2013-14	Not paid
	Tds	0.58	Fy 2012-13	Not paid
	Tds	0.02	Fy 2011-12	Not paid
	Tds	2.10	Fy 2010-11	Not paid
	Tds	036	Fy 2009-10	Not paid
	Tds	0.01	Fy 2008-09	Not paid
	Tds	1.22	Fy 2007-08	Not paid
The employees provident funds and miscellaneous provisions act, 1952	Provident fund	0.00	Fy 2023-24	Not paid
	Provident fund	0.02	Fy 2022-23	Not paid
	Provident fund	1.92	Fy 2021-22	Not paid
	Provident fund	0.41	Fy 2020-21	Not paid
	Provident fund	2.35	Fy 2019-20	Not paid
The goods and services tax act, 2017	Goods and services tax	0.25/-	Fy 2022-23	Not paid
	Goods and services tax	1.00/-	Fy 2021-22	Not paid
	Goods and services tax	1.36/-	Fy 2020-21	Not paid
	Goods and services tax	1.14/-	Fy 2019-20	Not paid
	Goods and services tax	1.65/-	Fy 2018-19	Not paid

* including interest, late filing fee and penalty.

(c) there are no statutory dues relating to goods and services tax, provident fund, employees state insurance, income-tax, sales tax, service tax, duty of customs, value added tax, cess or other statutory dues which have not been deposited on account of any dispute.

Viii. There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income

During the year in the tax assessments under the income tax act, 1961 (43 of 1961).

Ix. (a) the company has not defaulted in repayment of loans and borrowing or in the payment of interest thereon to any

Lender.

(b) the company has not been declared a wilful defaulter by any bank or financial institution or government or government authority.

(c) in our opinion, the company has applied the term loans for the purpose for which the loans were obtained.

(d) on an overall examination of the standalone financial statements of the company, funds raised on short-term basis have, prima facie, not been used during the year for long-term purposes by the company, except as below -

Rs In lakhs

Name of lender	Nature of facility	Amount utilised for long term purpose	Purpose for which used
Jammu & kashmir bank limited	Working capital overdraft limit	198.86	For leasehold industrial plot

(e) on an overall examination of the standalone financial statements of the company, the company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries or joint venture.

(f) the company has not raised loans during the year on the pledge of securities held in its subsidiaries or joint venture (as defined under the act). The company does not hold any investment in any associate (as defined under the act) during the year ended 31 march 2025.

X. (a) the company has not raised moneys by way of initial public offer or further public offer (including debt instruments)

During the year and hence reporting under clause 3(x)(a) of the order is not applicable.

(b) during the year, the company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence reporting under clause 3(x)(b) of the order is not applicable.

Xi. (a) no fraud by the company and no material fraud on the company has been noticed or reported during the year.

(b) no report under sub-section (12) of section 143 of the companies act has been filed in form adt- 4 as prescribed under rule 13 of companies (audit and auditors) rules, 2014 with the central government, during the year and upto the date of this report.

(c) we have taken into consideration the whistle blower complaints received by the company during the year (and upto the date of this report), while determining the nature, timing and extent of our audit procedures.

Xii. The company is not a nidhi company and hence reporting under clause (xii) of the order is not applicable.

Xiii. In our opinion, the company is in compliance with section 177 and 188 of the companies act, 2013 with respect to applicable transactions with the related parties and the details of related party transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards.

Xiv. (a) in our opinion, the company has an adequate internal audit system commensurate with the size and the nature of Its business.

(b) we have considered, the internal audit report for the year under audit, issued to the company during the year and till date, in determining the nature, timing and extent of our audit procedures.

Xv. In our opinion, during the year the company has not entered into any non-cash transactions with its directors or persons connected with its directors and hence provisions of section 192 of the companies act, 2013 are not applicable to the company.

Xvi. (a) in our opinion, the company is not required to be registered under section 45-ia of the reserve bank of india act,

1934. Therefore, reporting under clause 3(xvi)(a), (b) and (c) of the order is not applicable

(b) in our opinion, there is no core investment company within the group (as defined in the core investment companies (reserve bank) directions, 2016) and accordingly reporting under clause 3(xvi)(d) of the order is not applicable.

Xvii. The company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

Xviii. There has been no resignation of the statutory auditors of the company during the year.

Xix. On the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the standalone financial statements and 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 indicating that 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. The provisions of section 135 of the companies act, 2013 relating to corporate social responsibility are not applicable to the company and hence reporting under clause 3(xx) of the order is not applicable.

Annexure b to the independent auditors report

(referred to in paragraph 2 under report on other legal and regulatory requirements section of our report to the members Of sharika enterprises limited of even date)

To the best of our information and according to the explanations provided to us by the company and the books of account and

Records examined by us in the normal course of audit, we state that:

I. In respect of the companys property, plant and equipment, right-of-use assets and intangible assets:

(a) (a) the company has maintained proper records showing full particulars, including quantitative details and Situation of property, plant and equipment and relevant details of right-of-use assets.

(b) the company does not have any intangible assets and hence reporting under clause 3(i)(a)(b) of the order is not applicable.

(b) the property, plant and equipment and investment property have been physically verified by the management during the year and no material discrepancies were noticed on such verification. In our opinion, the frequency of physical verification is reasonable having regard to the size of the company and the nature of its assets.

(c) the company does not have any immovable properties as at the balance sheet date, except a leasehold property where the company is the lessee and the lease agreement is duly executed in favour of the lessee.

(d) the company has not revalued any of its property, plant and equipment (including right-of-use assets) during the year.

(e) no proceedings have been initiated during the year or are pending against the company as at 31 march 2025 for holding any benami property under the benami transactions (prohibition) act, 1988 (as amended in 2016) and rules made thereunder.

Ii. (a) the inventories have been physically verified by the management during the year, and in our opinion, the coverage

And procedure of such verification by the management is appropriate having regard to the size of the company and the nature of its business. No discrepancies of 10% or more in the aggregate for each class of inventory were noticed as compared to the book records.

(b) the company has been sanctioned working capital limits in excess of five crore rupees in aggregate from banks financial institution on the basis of security of current assets. There is no material difference between the books of account of the respective quarters and the quarterly returns/statements or revised returns/statements filed by the company with the banks.

Iii. The company has made investments in companies, granted unsecured loans to companies, in respect of which the requisite information is as below. The company has not made any investments or granted any unsecured loans to firms, limited liability partnerships or any other parties during the year. The company has not provided any guarantee or security or granted any secured loans or secured and unsecured advances in the nature of loans to companies, firms or limited liability partnerships or any other parties during the year.

(a) the company has provided loans or advances in the nature of loans during the year, details of which are given below:

Rs In lakhs

Particulars	Loans*	Advances in nature of loan
Aggregate amount granted/ provided during the year
- subsidiaries	91.25	-
Balance outstanding as at balance sheet date in respect of above cases
- subsidiaries	91.25	-

* includes intercorporate deposit classified into investments in additional equity.

The company has not provided any guarantee or security to any other entity during the year.

(b) in our opinion, the investments made and the terms and conditions of the grant of loans, during the year are, prima facie, not prejudicial to the interest of the company.

(c) in respect of loans granted by the company, the principal is repayable on demand, and the terms of payment of interest have not been stipulated. Accordingly, we are unable to comment on whether the repayments of principal and interest are regular.

(d) as the principal of the loans granted is repayable on demand and no demand for repayment has been made as of the reporting date, and since the terms of payment of interest have not been stipulated in respect of these loans, we are unable to comment on whether any amount is overdue for more than 90 days.

(e) no loan granted by the company which has fallen due during the year, has been renewed or extended or fresh loans granted to settle the overdue of existing loans given to the same parties.

(f) the company has granted loans or advances in the nature of loans that are repayable on demand or without specifying any terms or period of repayment

In lakhs

Particulars	Amount of loan given to related parties
Aggregate amount of loans
- repayable on demand (a)	91.25
- agreement does not specify any terms or period of repayment (b)	-
Total (a+b)	91.25
Percentage of to the total loans	100%

Iv. The company has not provided any guarantee or security as specified under section 186 of the companies act, 2013 ("the act”). In our opinion, the company has complied with the provisions of sections 185 and 186 of the act in respect of investments made and loans given, except for the instances mentioned below.

Rs In lakhs

Particulars	Balance as at balance sheet date
Loan given without interest
Subsidiary (other than wholly own subsidiary)-
- sharika smartec private limited	55.46
Others
- inventivepreneur private limited*	9.50
- njp entrade international private limited*	240.12
Others (b)	249.62

* provision for impairment had been created against these inter corporate deposits refer note - 13 of standalone financial statements

V. The company has not accepted any deposit or amounts which are deemed to be deposits. Therefore, reporting under clause 3(v) of the order is not applicable.

Vi. The maintenance of cost records has not been applicable to the company as specified by the central government under section 148(1) of the act. Therefore, reporting under clause (vi) of the order is not applicable to the company.

Vii. In respect of statutory dues:

(a) in our opinion, the company has generally been regular in depositing undisputed statutory dues, including goods and services tax, provident fund, employees state insurance, income tax, sales tax, service tax, duty of custom, duty of excise, value added tax, cess and other material statutory dues applicable to it with the appropriate authorities.

(b) the undisputed amounts payable in respect of goods and services tax, provident fund, employees state insurance, income tax, customs duty, cess, or other statutory dues that were in arrears as at 31 march 2025 for a period of more than six months from the date they became payable are as follows:

Name of the statute	Nature of the dues*	Amount (Rs In lakhs)	Period to which the amount relates	Date of payments
The income tax act, 1961	Income tax	0.74	Ay 2019-20	Not paid
The income tax act, 1961	Tds	0.90	Fy 2021-22	Not paid
	Tds	0.01	Fy 2020-21	Not paid
	Tds	0.02	Fy 2019-20	Not paid
	Tds	0.00	Fy 2018-19	Not paid
	Tds	0.55	Fy 2017-18	Not paid
	Tds	0.09	Fy 2016-17	Not paid
	Tds	0.26	Fy 2015-16	Not paid
	Tds	0.14	Fy 2014-15	Not paid
	Tds	0.42	Fy 2013-14	Not paid
	Tds	0.58	Fy 2012-13	Not paid
	Tds	0.02	Fy 2011-12	Not paid
	Tds	2.10	Fy 2010-11	Not paid
	Tds	0.36	Fy 2009-10	Not paid
	Tds	0.01	Fy 2008-09	Not paid
	Tds	1.22	Fy 2007-08	Not paid
The employees provident funds and miscellaneous provisions act, 1952	Provident fund	0.00	Fy 2023-24	Not paid
	Provident fund	0.02	Fy 2022-23	Not paid
	Provident fund	1.92	Fy 2021-22	Not paid
	Provident fund	0.41	Fy 2020-21	Not paid
	Provident fund	2.35	Fy 2019-20	Not paid
The goods and services tax act, 2017	Goods and services tax	0.25/-	Fy 2022-23	Not paid
	Goods and services tax	1.00/-	Fy 2021-22	Not paid
	Goods and services tax	1.36/-	Fy 2020-21	Not paid
	Goods and services tax	1.14/-	Fy 2019-20	Not paid
	Goods and services tax	1.65/-	Fy 2018-19	Not paid

* including interest, late filing fee and penalty.

(c) there are no statutory dues relating to goods and services tax, provident fund, employees state insurance, Income-tax, sales tax, service tax, duty of customs, value added tax, cess or other statutory dues which have not been deposited on account of any dispute.

Viii. There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the income tax act, 1961 (43 of 1961).

Ix. (a) the company has not defaulted in repayment of loans and borrowing or in the payment of interest thereon to Any lender.

(b) the company has not been declared a wilful defaulter by any bank or financial institution or government or government authority.

(c) in our opinion, the company has applied the term loans for the purpose for which the loans were obtained.

(d) on an overall examination of the standalone financial statements of the company, funds raised on short-term basis

Have, prima facie, not been used during the year for long-term purposes by the company, except as below -

Rs In lakhs

Name of lender	Nature of facility	Amount utilised for long term purpose	Purpose for which used
Jammu & kashmir bank limited	Working capital overdraft limit	198.86	For leasehold industrial plot

(e) on an overall examination of the standalone financial statements of the company, the company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries or joint venture.

(f) the company has not raised loans during the year on the pledge of securities held in its subsidiaries or joint venture (as defined under the act). The company does not hold any investment in any associate (as defined under the act) during the year ended 31 march 2025.

X. (a) the company has not raised moneys by way of initial public offer or further public offer (including debt

Instruments) during the year and hence reporting under clause 3(x)(a) of the order is not applicable.

(b) during the year, the company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence reporting under clause 3(x)(b) of the order is not applicable.

Xi. (a) no fraud by the company and no material fraud on the company has been noticed or reported during the year.

(b) no report under sub-section (12) of section 143 of the companies act has been filed in form adt- 4 as prescribed under rule 13 of companies (audit and auditors) rules, 2014 with the central government, during the year and upto the date of this report.

(c) we have taken into consideration the whistle blower complaints received by the company during the year (and upto the date of this report), while determining the nature, timing and extent of our audit procedures.

Xii. The company is not a nidhi company and hence reporting under clause (xii) of the order is not applicable.

Xiii. In our opinion, the company is in compliance with section 177 and 188 of the companies act, 2013 with respect to applicable transactions with the related parties and the details of related party transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards.

Xiv. (a) in our opinion, the company has an adequate internal audit system commensurate with the size and the nature of its business.

(b) we have considered, the internal audit report for the year under audit, issued to the company during the year and till date, in determining the nature, timing and extent of our audit procedures.

Xv. In our opinion, during the year the company has not entered into any non-cash transactions with its directors or persons connected with its directors and hence provisions of section 192 of the companies act, 2013 are not applicable to the company.

Xvi. (a) in our opinion, the company is not required to be registered under section 45-ia of the reserve Bank of india act, 1934. Therefore, reporting under clause 3(xvi)(a), (b) and (c) of the order is not applicable

(b) in our opinion, there is no core investment company within the group (as defined in the core investment companies (reserve bank) directions, 2016) and accordingly reporting under clause 3(xvi)(d) of the order is not applicable.

Xvii. The company has not incurred cash losses during the financial year covered by our audit and the immediately preceding financial year.

Xviii. There has been no resignation of the statutory auditors of the company during the year.

Xix. On the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the standalone financial statements and 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 indicating that 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. The provisions of section 135 of the companies act, 2013 relating to corporate social responsibility are not applicable to the company and hence reporting under clause 3(xx) of the order is not applicable.

For r d v & associates,

Chartered accountants

Frn:006128c

Vaibhav goel

Partner

M.no: 547918

Udin: 25547918bmkyip8642

Date: 28 may 2025

Place: delhi