Simandhar Impex Ltd Auditor Reports

To the Members of Simandhar Impex Limited

Report on the Audit of theFinancial Statements Opinion

which comprise the Balance Shot as at March_{s in Equity and}

(includlngOthcr Comprehen.lvc Income) _flnancial statements,

Statement of Cash Flows for the other explanatory information,

including a summary of significant accountm_B policies and other cxpwnai ry

on our opinion and to the best of our information principles gSyaccJin India, of the state of

2026. and its profit, total comprchenswcincome, changes m eq . y the year ended on that date.

Basis for Opinion

further described in the Auditors Responsibilities for the Audit of and we have fulfilled our other ethical responsibiliues in accordance with requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

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

Other Information

The Companys Board of Directors is responsible for other information. The other information comprises the information included in the Boards Report including the Annexure lo the Boards Report but docs not include the financial statements and our auditors report thereon.

Our opinion on the financial statements does not cover the outer imormauw - express any form of assurance conclusion thereon.

In connection with the audit of the financial statement., our responsibility is to read the other information and in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained m the audit or otherwise appear 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 arc required to report the fact. We have nothing to report in this regard.

Responsibility of Management for Financial Statements

The Companys Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act. 2013 (the Act") with respect to the preparation of these 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 judgements and estimates that ore 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 financial statement that give a true and fair view and arc free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management cither intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Compunys financial reporting process.

Auditor s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a highlcvcl assurance, but is not a guarantee that an audit conducted in accordance with SAs will nlwnys detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material If, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As pan 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 financial statements, whether due to fraud or error, design and perform audit procedures responsive to

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 ovemde or integral control.

Obtain an understanding or 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, we are responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a mutcriBl uncertainty exists, we ore required to draw attention in our auditors report to the related disclosures in the financial statements or, if such disclosures arc inadequate, to modify our opinion. Our conclusions arc based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Financial Statements that, individually or in aggregate, makes it probuble that the economic decisions of a reasonably knowledgeable user of the 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 (H) to evaluate the effect of any identified misstatements in the Financial Statements

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them

all r?lation?hipo and other mattoro that may reasonably be thought to bear on OUr independence, and where applicable, related safeguards. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirement*

AS required by the Companies (Auditors Report) Order, 2020 (-the OrdeO issued by

Central Government of India in terms of sub-section (11) of section 143 of the

Companies Act, 2013, wc give in Annexure -A. a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

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

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

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

c) The Balance Sheet, Statement of Profit and Loss including other comprehensive Income, Statement of changes in Equity and the Cash Flow Statement dealt with by this Report arc in agreement with the books of account.

d) In our opinion, the aforesaid financial statements comply with the Ind AS Standards specified under Section 133 of the Act.

c) On the basis of written representations received from the directors as on March 31, 2026, and taken on record by the Bourd of Directors, none of the directors is disqualified as on March 31, 2026, from being appointed as a director in terms of section 164(2) of the Act.

f) With respect to the adequacy of the internal financial control over financial reporting of the company and operating effectiveness of such controls, refer to our separate report in “Anncxure B". Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company‘s internal finuncial controls with reference to Standalone Financial Statements.

g) 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, no remuneration paid by the Company to its directors during the year.

h) 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 docs not have any pending litigations which would impact its financial position

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

III. The Company is not required to transfer any fund to the Investor Education and Protection Fund.

IV. (a) The management has represented that, to the best of its knowledge and belief, 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 pcrson(s) or entity(ies), 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 bchulf of the Ultimate Beneficiaries

(b) The management has represented, that, to the best of its knowledge and belief, no funds have been received by the company from any pcraon(s) or entity(ics), 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") or provide any guarantee, security or the like on behalf of the Ultimate Bcncficiurics

(c) In our opinion and to the best of our information and according to the explanations given to us and based on audit procedures that are reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-cluuse iv(a) und vi(b) contains any material mis-statement

V. The company has not declared or paid dividend during the year. Accordingly, provisions of Section 123 of the Act is not applicable to the company

VI. Based on our examination which included test checks, the Company has used un accounting software for maintaining its books of account for the financial year ended March 31. 2026 which has a 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, during the course of our audit wc did not come across any instance of the audit trail feature being tampered with.

As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per the statutory requirements for record retention is not applicable for the financial year ended March 31, 2026.

For Bohara Shah Jb Co

Chartered Accountants

Firm Registration Number: 143865W

Monik B Shah

Partner

Membership Number: 160452

Place: Thane

Date: 07^th May 2026

UDIN: 26160452OUFQCO3323

Annixure A referred In our Report of oven date to the members of Simandhar Impex Limited For the year ended March 31, 2026

AS reared by Companies (Auditors Report) given to us during the course of audit, we state as under:

The company does not have any Property, Plant and Equipment. Accordingly, paragraph 3(i)(a) of the Order is not applicable to the company. any immovable properties on lease.

3(i)(d) of the Order is not applicable to the company.

e) According to information and explanations given to us and onthebat^ of our

Transactions (Prohibition) Act, 1988 (45 of 1988).

a) The companys nature of operation docs not require it to Accordingly .paragraph 3(ii)(a) of the order is not applicable to the company.

bl The company docs not have sanctioned working capital limit / sanctioned l^nVS limU exceeding INR 5 Crores in aggregate from any banks or S3!, institutions. Accordingly, paragraph 3(ii)(b) of the Order is not applicable to the company.

(f) of the order is not applicable to the company.

iv) According to the Information and explanations given to us ^JJMedon the audit ⁽ procedures performed by us, the company has not given any loans,security or made investments during the year. Accordingly paragraph 3(iv) of th order is not applicable to the company.

v)According to the information and explanations given to us and based on the audit procedures performed by us, the company has not accepted any deposits and hence directives of the Reserve Bank of India and the provisions of the Act and Ae Ruto framed there under are not applicable to the company. There arc by company Law Board or National company Law Tribunal or Reserve Bank of India

(vi) We arc informed that company i? not required to maintain coat records in terms of section 148 of the Act.

(vit) a) Undisputed statutory dues including income tax(Tax Deducted at Source) goods and service tax, cess or.d other statutory dues have generally been regularly deposited with the appropriate authorities and there are no undisputed dues outstanding as on 31st March, 2026 for a period of more than six months from the date they became payable

b) According to the information and explanations given to us, the Company docs not have any disputed dues of income tax, Goods and Services Tax, cess. Thu9, paragraph 3 (vii)(b) of the Order is not applicable.

(Vlii) According to the information and explanations given to us and based on the audit procedures performed by us, there were no transactions identified as surrendered or disclosed income in any of the tax assessments during the year under the Income Tux Act, 1961. Accordingly paragraph 3(vrii) of the order is not applicable to the company.

(ix) (a) According to the information and explanations given to us and based on the audit procedures performed by us, the company has not defaulted in repayment of loans or other borrowings or in payment of interest thereon to any lender.

(b) According to the information and explanations given to us and on the basis of our audit procedures, the company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

(c) According to the information and explanations given to us and on the basis of our audit procedures, the company has not availed any term loan during the year. Accordingly paragraph 3(ix) (c) of the order is not applicable to the company.

(d) According to the information and explanations given to us, and the procedures performed by us, and on an overall examination of the financial statements of the company, no funds raised on short-term basis have been used for long-term purposes by the company

(e) According to the information and explanations given to us and on an overall examination of the financial statements of the company, the company docs not have any subsidiaries, associates or joint ventures. Accordingly paragraph 3(ix) (c) and (0 of the order is not applicable to the company.

(x) (a) In our opinion and according to the information and explanations given to us, the company has not raised any money by way of public offer, further public offer (including debt instruments) during the year.

(b)The company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year.

(xi) (a) According to the information and explanations giver, to us, no fraud on or by the Company has been noticed or reported during the course of our audit.

(b) According to the information and explanations given to us, we have not come across fraud committed in the company by its officers or employees and hence

(c) As represented to us by the management, there are no whistle blower complaints received by the company during the year.

(xii) The Company is not a Nidhi Company.

(xiii) In our opinion and according to the information and explanations given to us, transactions entered by the Company with related parties are in compliance with section 188 of the Act, to the extent applicable. The Company not being a public Company provisions of section 177 of the Act arc not applicable. In our opinion, details of transactions with the related parties have been disclosed in the financial statements as required by the applicable accounting standards.

(xiv) (a) In our opinion, the Company has an internal audit system commensurate with the size and nature of its business.

(b) We have considered, the internal audit reports for the year under nudit, issued to the Company during the year and till date, in determining the nature, timing and extent of our audit procedures.

(xv) According to the information and explanations given to us, 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 arc not applicable to the company.

(xvi) (a) The company is not required to be registered as Non-banking Finance company as required under section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, paragraph 3(xvi) (a) of the order is not applicable to the company.

(b) According to the information and explanations given to us, the company has not conducted any nonbanking financial or housing finance activities.Accordingly, paragraph 3(xvi) (b) of the order is not applicable to the company.

(c) According to the information and explanations given to us, the company is not Core Investment company (CIC) as defined in regulations made by Reserve Bank of India. Accordingly paragraph 3(xvi) (c) of the order is not applicable to the company.

(d) As represented to us by the management, there arc no Core Investment company (CIC) in the group.

(xviij The company has not incurred cash losses in the current financial year. The company has incurred any cash loss in preceding financial year.

fxviii) There lias been no resignation of the statutory auditors during the year. Accordingly paragraph 3(xviii) of the order is not applicable to the company.

(xix) According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that company is not capable of meeting its liabilities existing ut the date of balance sheet as and when they fall due within u 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 dale, will get discharged by the company as and when they fall due.

(xx) According to the information and explanations given to us, in our opinion the provisions of Section 135 of the Act is not applicable to the company. Accordingly, paragraph 3(xx)(a) und (b) of the order is not applicable to the company.

(xxi) As this report is for standalone financial statements of the company, the provisions of reporting of qualifications or adverse remarks for respective companies included in consolidation is not applicable.

For Bohara Shah & Co

Chartered Accountants

Firm Registration Number: 143865W

Monik B Shah

Partner

Membership Number: 160452

Place: Thane

Date: 07 May,2026

UDIN: 26160452OUFQC03323

Annexure B referred to in our Report of even date to the members of Simandhar Impex Limited for the year ended March 31, 2026

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Act.

We have audited the internal financial controls over financial reporting of Simandhar Impex Limited ("the Company") as at March 31, 2026 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys management is responsible for establishing and maintaining internal financial controls baaed on the internal financial 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 1CAI. 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 ussets, the prevention and detection of frauds und errors, the uccurncy 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 over financial reporting based on our audit.

We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the Guidance Note") and the Standards on Auditing, Issued by the Institute of Chartered Accountants of India ("the ICAI") and deemed to be prescribed under section 143(10) of the Act, to the extent applicable to an audit of internal financial controls, belli applicable to an audit of Internal Financial Controls and, both issued by the ICAI. Those Stundards und the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

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

our audit opinion on the Companys internal financial controls system over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A Companys Internal financial control over financial reporting is u process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A Companys internal financial control over financial reporting includes those policies and procedures that;

1) Pertain to the maintenance of records thut, 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 accepted accounting principles, and that receipts expenditures of the Company are being made only in accordance with authorizations of management und directors of the Company; and

3) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Companys assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

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

Opinion

According to the information and explanation given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31. 2026, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

For Bohara Shah & Co

Chartered Accountants

Firm Registration Number: 143865W

Monik B Shah

Partner

Membership Number: 160452

Place: Thane

Date: 07^th May. 2026

UDIN: 26160452OUFQCO3323