Shreeji Translogistics Ltd Auditor Reports

<dhhead>INDEPENDENT AUDITOR’S REPORT ON STANDALONE FINANCIAL STATEMENTS</dhhead>

TO THE MEMBERS OF

SHREEJI TRANSLOGISTICS LIMITED Opinion

I have audited the accompanying Standalone Ind AS financial statements of SHREEJI TRANSLOGISTICS LIMITED ("the Company"), comprising the standalone Balance Sheet as at 31^st March, 2025, the standalone statement of Profit and Loss (including other comprehensive income), the standalone statement of Changes in Equity and the standalone statement of Cash Flows for the year then ended, 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 my opinion and to the best of my information and according to the explanations given to me, 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 accounting principles generally accepted in India including the Indian Accounting Standards ("Ind AS") prescribed the under section 133 of the Act, of the state of affairs Company as at 31^st March 2025, and its profit comprehensive loss, changes in equity and its cash flows for the year ended on that date.

 

Basis for Opinion

I conducted my audit of the standalone financialstatements in accordance with the Standards on Auditing (SAs) specified under Section143(10) of the Act. My responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Statements section of my report. I am 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 my audit of the standalone financial statements under the provisions of the Act and the Rules thereunder, and I have fulfilledmy other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. I believe that the audit evidence obtained by me is and appropriate to provide a basis for my opinion on the standalone financial statements.

 

Key Audit Matters

Key audit matters are those matters that, in my professional judgment, were of most significance in my audit of the Standalone Financial Statements for the financial ended 31^st March, 2025. These matters were addressed in the context of my audit of the Standalone Financial Statements as a whole, and in forming my opinion thereon, and I do not provide a separate opinion on these matters.

I have determined the matters described below to be key audit matters to be communicated in my report.

Key Audit Matter	Auditor’s Response
The Company has high volume of transactions each day recorded across various branches.
Due to the Companys Revenue cycle, which is material to the Standalone Financial Statements and considering volume, this matter has been identified as a key audit matter for the current years audit.	Our audit approach procedures included the following:
(Refer Note No.3 (l) to the Standalone Financial Statements)	- Testing the design and operating effectiveness of the internal controls associated with contracts with customers/vendors.
	- Analyzing contracts with customers/vendors from selected samples.
	- Testing of the approval mechanism, access and change controls associated with the tariff/rate masters.
	- Assessed the appropriateness of the related disclosures in the Standalone Financial Statements.

 

 

 

Information Other than the Standalone Financial Statements and Auditor’s Report thereon

The Company’s Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Board’s Report including Annexures to Board’s Report, Business Responsibility and Sustainability Report, Corporate Governance and Shareholder’s Information but does not include the Standalone Financial Statements, the Consolidated Financial Statements and my auditor’s report thereon. The Company’s annual report is expected to be made available to me after the date of this auditor’s report.

My opinion on the Standalone Financial Statements does not cover the other information and I do not express any form of assurance conclusion thereon. sufficient

In connection with my audit of the Standalone Financial Statements, my responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the Standalone Financial Statements or my knowledge obtained during the course of my audit or otherwise appears to be materially misstated. year When I read the Company’s annual report, if I conclude that there is a material misstatement therein, I am required to communicate the matter to those charged with governance and take necessary actions, as applicable under the relevant laws and regulations.

 

Responsibility of Management and Board of Directors for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 ("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 the Ind AS specified under Section 133 of the Act. 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 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, the Management and Board of Directors are responsible for assessing the Company’s 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.

Those Board of Directors are also responsible for overseeing the Company’s financial reporting process.

 

Auditor’s Responsibility for the audit of Standalone

Financial Statements

My 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 auditor’s report that includes my 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, I exercise professional judgment and maintain professional skepticism throughout the audit. I 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 my 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 Act, I am also responsible for expressing my 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 and Board of Directors; Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting in preparation of Standalone Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the

Company’s ability to continue as a going concern. If I conclude that a material uncertainty exists, I am required to draw attention in my auditor’s report to the related disclosures in the Standalone Financial Statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my auditor’s 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. I consider quantitative materiality and qualitative factors in (i) planning the scope of my audit work and in evaluating the results of my work; and (ii) to evaluate the effect misstatements in the Standalone Financial Statements. I 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 controls that I identify during my audit.

I also provide those charged with governance with a statement that I 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 my independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, I 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. I describe these matters in my auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, I determine that a matter should not be communicated in my 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 (Auditor’s Report) Order 2020, ("the Order") issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Act, I give in Annexure "A", a statement on the matters specified in the paragraphs 3 and 4 of the

Order, to the extent applicable.

2. A. As required by Section 143 (3) of the Act based on my audit, I report that: a. I have sought and obtained all the information and explanations which to the best of my knowledge and belief were necessary for the purposes of my audit; b. In my opinion, proper books of account as required by law have been kept by the Company so far as it appears from my examination of those books; c. The Standalone Balance Sheet, the

Standalone Statement of Profit and Loss

(including other comprehensive income), the Standalone Statement of Change in Equity and the Standalone statement of Cash Flows, dealt with by this Report are in agreement with the books of account; d. In my opinion, the aforesaid Standalone Financial Statements comply with the Ind AS specified under Section 133 of the Act; e. On the basis of written representations received from the Directors as on 31^st March 2025 and taken on record by the Board of

Directors, none of the Directors is disqualified as on 31^st March, 2025, from being appointed as a Director in terms Section 164 (2) of the Act; f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to my separate report in "Annexure B"; B. With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014, in my opinion and to the best of my information and according to the explanations given to me: -a) The Company has disclosed the impact of pending litigation as on 31^st March, 2025 on its financial position in its Standalone

Financial Statements- Refer Note No: - 41; b) The Company did not have any long-term contracts including derivatives contracts for which there were any materials foreseeable losses; c) There were no amounts which was required to be transferred to the Investor Education and Protection Fund by the Company; d) (i) The management has represented that, to the best of its knowledge and belief, as disclosed in the note 51 to the Standalone Financial Statements, no funds 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 persons or entities, including foreign entities ("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;

(ii) The management has represented, that, to the best of its knowledge and belief, as disclosedinthenote51totheStandalone Financial Statements, no funds have been received by the Company from any persons or entities, including foreign entities ("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") guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(iii) Based on audit procedures which I considered reasonable and appropriate in the circumstances, nothing has come to my notice that has caused me to believe that the representations under sub-clause (i) and (ii) of Rule 11 (e) as provided under (d) (i) and d (ii) above contain any material misstatement. e) As stated in Note No. 44 to the Standalone Financial Statements, the Final Dividend proposed in previous year, declared and paid by the Company during the year, is in accordance with Section 123 of the Act.; f) The reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules,2014 is applicable from 1^st April 2023.

Based on my examination which included test checks, the Company has used accounting software for maintaining its books of account, which have a feature of recording audit trail (edit log) facility and the same has operated throughout the year for relevant transactions recorded in the software. Further, during the course of my audit I 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.

C. With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the Act: In my opinion and according to the information and explanations given to me, 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 me.

 

ANNEXURE A TO INDEPENDENT AUDITOR’S REPORT

Referred to Paragraph 1 under the heading of "Report on Other Legal and Regulatory Requirements" of my report of even date to the members of SHREEJI TRANSLOGISTICS LIMITED, I report that:

(i) In respect of Company’s Property Plant and Equipment and Intangible assets (a) (A) The Company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and Equipment.

(B) The Company has maintained proper records showing full particulars of intangible assets.

(b) According to the information and explanations given to me and on the basis of my examination of the records of the Company, the Company has a regular programme of physical verification of its Property, Plant and Equipment by which all property, plant and equipment are verified in a phased manner over a period of three years. In accordance with this programme, certain property, plant and equipment were verified during the year. In my opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed on such verification.

(c) According to the information and explanations given to me and on the basis of my examination of the records of the Company, the title deeds of immovable properties disclosed in the Standalone Financial Statements are held in the name of the Company. (d) According to the information and explanations given to me and on the basis of my examination of the records of the Company, the Company has not revalued its Property, Plant and Equipment or intangible assets or both during the year.

(e) As per Information given to me, no proceedings have been initiated or are pending against the company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

(ii) (a) The inventory has been physically verified by the management at reasonable intervals during the year. In my opinion the coverage and the procedure of such verification by the management is appropriate. No discrepancies were noticed on verification between the physical stocks and the book records that were more than 10% in the aggregate of each class of inventory.

(b) The Company has been sanctioned capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the basis of security of current assets; the revised quarterly returns or statements filed by the Company with such banks or financial institutions are in agreement with the books of account of the Company.

(iii) According to the information and explanations given to me and on the basis of my examination of the records of the Company, the Company has not made any investments, provided guarantee or security or granted any advances in the nature of loans, secured or unsecured, to companies, firms, limited liability partnerships or any other parties during the year except as mentioned below. The Company has granted loans during the year, details of the loan is stated in sub-clause (a) below: -(a) (A) Based on audit procedures carried on by me and as per the information and explanations given to me, the aggregate amount during the year, and balance outstanding at the balance sheet date with respect to such loans or loans in the nature of advances and guarantees or security to the KMP or subsidiaries are as below: -

Particulars	Amount during the year (Rs. In Lacs)	Closing Balance at Year ended 31st March 2025 (Rs. In Lacs)
Aggregate amount of Corporate Guarantee provided by Company during the year	Nil	26.52
Aggregate amount of Loan given to Subsidiary Company	31.30	0.00
Aggregate amount of Loan given to KMP	5.00	5.00

 

(B) Based on audit procedures carried on by me and as per the information and explanations given to me, the aggregate amount during the year, and balance outstanding at the balance sheet date with respect to such loans or advances and guarantees or security to parties other than subsidiaries, joint ventures and associates are as below: -

Particulars	Amount
	(Rs. In Lacs)
Aggregate amount of loan given during the year (including Interest Receivable and net of TDS)	173.91
Aggregate Repayment received during the year, out of loans given	45.91
Balance outstanding as at balance Sheet Date	646.62

 

(b) According to the information and explanations given to me and based on the audit procedures conducted by me, I am of the opinion that the investments made, guarantees provided, security given and the terms and conditions of the grant of such all loans and advances in the nature of loans and guarantees provided are not prejudicial to the Company’s interest; (c) According to the information and explanations given to me and on the basis of my examination of the records of the company in respect of loans and advances in the nature of loans, the schedule of repayment of principal and payment of interest has been stipulated and the repayments or receipts have been regular; (d) According to the information and explanations given to me and on the basis of my examination of the records of the Company, there is no overdue amount for more than ninety days in respect of loans given.

(e) According to the information and explanations given to me and on the basis of my examination of the records of the Company, there is no loan given falling due during the year, which has been renewed or extended or fresh loans given to settle the overdues of existing loans given to the same party.

(f) According to the information and explanations given to me and on the basis of my examination of the records of the Company, the Company has granted loans repayable on demand as below:

	(Rs. In Lacs)
Particulars	All Outside Parties	Related Party
Aggregate number of loans/ advances in nature of loans as on 31st March 2025	646.62	5.00
- Repayable on Demand

 

Particulars	All Outside Parties	Related Party
Percentage of loans/ advances in nature of loans to the total loans	99.23%	0.77%

 

(iv) The Company has complied with the provisions of Section 185 and 186 of the Act in respect of grant of any loans, making investment or providing guarantees and securities, as applicable.

(v) The Company has not accepted any deposits or amounts which are deemed to be deposits from the public to which the directives issued by the Reserve Bank of India and the provisions of Section 73 to 76 of the Companies Act, 2013 and the rules framed thereunder are applicable. Accordingly, reporting under clause 3(v) of the Order is not applicable to the Company.

(vi) According to the information and explanations given to me, the Central Government has not prescribed the maintenance of Cost records under Section 148 (1) of the Act, for any of the goods supplied or services rendered by the Company. Accordingly, reporting under clause 3(vi) of the Order is not applicable to the Company.

(vii) (a) According to the information and explanations given to me and on the basis of the records of the Company examined by me, in my opinion, the Company is generally regular in depositing the undisputed statutory dues including Goods and Services Tax, provident fund, employees’ state insurance, income-tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and other material statutory dues as applicable with the appropriate authorities. According to the information and explanations given to me, no undisputed amounts payable in respect of these statutory dues were outstanding as to last date of the financial period for a period more than six months from the date they became payable.

(b) According to the information and explanation given to me and on the basis of the records of the Company examined by me, the particulars of dues referred to in sub-clause (a) above which have not been deposited as on 31^st March, 2025 on account of disputes are given below (Refer Note No.41 to Standalone Financial Statements):

Name of the Statute	Nature of Dues	Amount (Rs. In Lacs)	Year to which the Amount Relates	Forum at which dispute is pending
IncOme Tax Act,1961	Income Tax	4.08	A.Y.14-15	Pending before Hon’ble JCIT (Appeals) or CIT (Appeals)
Income Tax Act,1961	Income Tax	0.84	A.Y.20-21	Pending before Hon’ble CIT (Appeals)
Income Tax Act,1961	Income Tax	1.86	A.Y.21-22	Pending before Hon’ble CIT (Appeals)

 

Company examined by me and the information and explanation given to me, the company has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the Income tax Act, 1961 as income during the year.

(ix) (a) According to the information and explanation given to me and on the basis of my examination of the books of account, the Company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to any lenders. (b) According to the information and explanation given to me and on the basis of my examination of the books of account, the Company has not been declared a wilful defaulter by any bank or financial institutions or other lenders Government or any Government authority.

(c) According to the information and explanation given to me and on the basis of my examination of the books of account, the company has applied the term loans for the purpose for which the loans were obtained.

(d) According to the information and explanations given to me and overall examination of the Standalone Financial Statements of the Company, I report that funds raised on short term basis have prima facie, not been used during the year for long-term purposes by the company. Accordingly, clause 3(ix)(d) of the Order is not applicable. (e) According to the information and explanations given to me and on an overall examination of the Standalone Financial Statements of the Company, I report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries or associates as defined under the Companies Act,

2013. Accordingly, clause 3(ix)(e) of the Order is not applicable.

(f) According to the information and explanations given to me and procedures performed by me, I report that the Company has not raised loans during the year on the pledge of securities held in its subsidiaries or associates as defined under the Companies Act,

2013. Accordingly, clause 3(ix)(f) of the Order is not applicable.

(x) (a) According to the information and explanation given to me and on the basis of my examination of the books of account, the Company has not raised money by way of initial public offer or further public offer (including debt instruments) during the year. Accordingly, clause 3(x)(a) of the Order is not applicable to the Company.

(b) According to the information and explanations given to me and on the basis of my examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly, clause 3(x)(b) of the Order is not applicable.

(xi) (a) Based on examination of the books and records of the Company and according to the information and explanations given to me, considering the principles of materiality outlined in Standards on Auditing, I report that no fraud by the Company or on the Company has been noticed or reported during the year.

(b) According to the information and explanations given to me, no report under sub-section (12) of the section 143 of the Companies Act, 2013 has been filed by me 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 me and representation by the management, there were no whistle blower complaints received by the Company during the year.

(xii) According to the information and explanations given to me, the Company is not a Nidhi Company. Accordingly, clause 3(xii) of the Order is not applicable.

(xiii) In my opinion and according to the information and explanations given to me, the transactions with related parties are in compliance with Sections 177 and 188 of the Companies Act, 2013, where applicable, and the details of the related party transactions have been disclosed in the Standalone Financial Statements as required by the applicable Accounting Standards.

(xiv) (a) Based on information and explanations provided to me and my audit procedures, in my opinion, the Company has an internal audit system commensurate with the size and nature of its business.

(b) I have considered the internal audit reports of the Company issued till date for the period under audit.

(xv) In my opinion and according to the information and explanations given to me, the Company has not entered into any non-cash transactions with its directors or persons connected to its directors and hence, provisions of Section 192 of the Companies Act are not applicable to the Company.

(xvi) (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clause 3(xvi)(a) of the Order is not applicable.

(b) The Company is not engaged in aby Non-Banking Financial or Housing Finance activities. Accordingly, clause 3(xvi)(b) of the Order is not applicable.

(c) The Company is not a Core Investment Company

(CIC) as defined in the regulations made by the

Reserve Bank of India. Accordingly, clause 3(xvi) (c) of the Order is not applicable.

(d) According to the information and explanations providedtomeduringthecourseofaudit,theGroup

(as defined in the Core Investment Companies

(Reserve Bank) Directions, 2016) does not have any CIC. Accordingly, the requirements of clause 3(xvi)(d) are not applicable.

(xvii) The Company has not incurred cash losses in the current and in the immediately preceding financial year.

(xviii) There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.

(xix) According to the information and explanations given to me and 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 financial statements, my knowledge of the Board of Directors and Management plans and based on my examination of the evidence supporting the assumptions, nothing has come to my attention, which causes me 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. I, however, state that this is not an assurance as to the future viability of the Company. I further state that my reporting is based on the facts up to the date of the audit report and I 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 my opinion and according to the information and explanations given to me, there is no unspent amount under sub-section (5) of Section 135 of the Companies Act, 2013 pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

 

ANNEXURE B TO THE INDEPENDENT AUDITOR’S REPORT

Annexure B to the Independent Auditor’s Report on the standalone financial statements of Shreeji

Translogistics Limited for the year ended 31^st March, 2025.

Report on the Internal Financial Controls under Clause

(i) of Sub-section 3 of Section 143 of the Companies

Act, 2013 ("the Act")

(Referred to in paragraph 2(A)(g) under the heading of "Report on Other Legal and Regulatory Requirements" of my report of even date.

I have audited the internal financial controls with reference to Standalone Financial Statements of Shreeji Translogistics Limited (the "Company") as at March 31,2025 in conjunction with my audit of the Standalone Ind AS Financial Statements of the Company for the year ended on that date.

Management’s and Board of Director’s Responsibility for Internal Financial Controls

The Company’s management and Board of Directors are responsible for establishing and maintaining internal financial controls with reference to standalone financial statements based on the internal controls over with reference to standalone financial statements 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 (the "Guidance Note")issued by the Institute of Chartered Accountants of India ("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 company’s 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.

 

Auditor’s Responsibility

My responsibility is to express an opinion on the Company’s internal financial controls with reference to standalone financial statements based on my audit. I conducted my 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, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, 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 I 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.

My audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. My 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 auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

I believe that the audit evidence I have obtained is and appropriate to provide a basis for my audit opinion on the Company’s internal financial controls system over financial reporting with reference to Standalone Financial

Statements.

 

Meaning of Internal Financial Controls With Reference to Standalone Financial Statements

A company’s 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 company’s 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 company’s assets that could have a material effect on the financial statements.

 

Inherent Limitations of Internal Financial Controls With Reference to Standalone Financial Statements

Because of the inherent limitations of internal financial controls with reference to standalone financial statements, 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 my opinion, to the best of our information and according to the explanations given to me 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 March 31, 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 Institute of Chartered Accountants of India

FOR SANJAY C. SHAH & ASSOCIATES

CHARTERED ACCOUNTANTS

FIRM ‘S REGISTRATION NO. 128148W

SANJAY C. SHAH

PROPRIETOR

MEMBERSHIP NUMBER: 039179

PLACE:-MUMBAI

DATED:-30th May, 2025

UDIN: - 25039179BMIWIC6611