Solve Plastic Products Ltd Auditor Reports

To The Members of

Solve Plastic Products Limited, Tholicodu, Punalur

Report on the Audit of the Standalone Financial Statements

1. Opinion

We have audited the accompanying Standalone financial statements of Solve Plastic Products Limited, Tholicodu, Punalur (“the Company”) which comprises the Balance Sheet as at 31^st March 2026, the Statement of Profit and Loss and Statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31⁹ March 2026, and PROFIT and its cash flows for the year ended on that date.

2. Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act. 2013. Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ediical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act. 2013 and the Rules thereunder, and we have ftilfilled our other ethical responsibilities in accordance with these requirements and the Code of Ediics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

3. Key Audit Matters

Key audit matters are those matters that. in our professional judgment, were of most significance in our audit of these 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:

Monitoring and Disclosure of Utilization of IPO Proceeds (Refer Note 26. to the Standalone Financial Statements)

The Company had successfully completed its Initial Public Offering (IPO) on the NSE Emerge SME Platform in the previous year and raised net proceeds of Rs.1.184.82 Lakhs. During the current year ended March 31, 2026, the Company has utilized Rs.888.41 Lakhs of the IPO proceeds towards the objects stated in the Prospectus, as follows: (a) Capital Expenditure towards purchase of additional plant and machinery ? Rs.256.23 Lakhs (against Rs.552.64 Lakhs planned); (b) Working Capital Requirements ? Rs.382.55 Lakhs (fully utilized); (c) General Corporate Expenses ? Rs.88.00 Lakhs (fiilly utilized): and (d) Issue Related Expenses ? Rs. 161.63 Lakhs (fully utilized). An amount of Rs.296.41 Lakhs remains imutilized as at March 31, 2026, representing the balance Capital Expenditure yet to be deployed, which has been parked in the Company’s current account maintained with State Bank of India, pending deployment. The utilization of IPO proceeds requires significant management judgment in ensuring that deployment of fluids is in accordance with the objects stated in the Prospectus and in compliance with NSE Emerge listing obligations. Given the regulatory significance, materiality of unutilized proceeds, and the continuing nature of capital expenditure deployment, we have identified this as a Key Audit Matter.

How Our Audit Addressed the Matter

Our audit procedures included, but were not limited to, the following:

i. Obtained and reviewed the Prospectus to understand the objects of the IPO and the planned deployment of net proceeds across each head.

ii. Verified the actual utilization of IPO proceeds against each object of the offer by examining supporting documents, including invoices, purchase orders, bank statements, and payment records, to confirm that funds were deployed in accordance with the objects stated in the Prospectus.

iii. Verified that the unutilized IPO proceeds amounting to Rs.296.41 Lakhs have been appropriately parked in the Companys current account with State Bank of India, as permitted, and obtained bank confirmation/statements to corroborate the same.

iv. Reviewed the Statutory Auditors Certificate on Utilization of IPO Proceeds issued for the half year ended March 31,2026, and assessed its consistency with the books of account and supporting records.

v. Assessed the adequacy and completeness of disclosures made in the financial statements with respect to the utilization and pending deployment of IPO proceeds, in compliance with applicable NSE Emerge listing regulations and accounting standards.

vi. Obtained written representations from Management and those charged with Governance confirming the correctness of the utilization statements and compliance with the Prospectus objects.

4. Other Matters

i. The Financial Statements of the Company for the year ended March 31,2025, were audited by predecessor audit firm. The predecessor auditors report, dated July 22, 2025, expressed an unmodified opinion on those financial statements.

ii. Attention is drawn to the feet that the figures for the half year ended March 31.2026 represent the derived figures between the audited figures in respect of the full financial year ended March 31, 2026 and the unaudited published year-to-date figures up to September 30, 2025. being the end of the first half of the financial year, which were subjected to limited review⁷ by us.

Our opinion is not modified in respect of these matters.

5. Information other than the Financial Statements and Auditors Report thereon

The Company’s Board of Directors is responsible for the Information other than the financial statements and auditors report thereon. The said information comprises the information included in the Directors Report (Other information), but does not include the financial statements and our audit report thereon. The Other Information is expected to be made available to us after the date of this auditors report

Our opinion on the financial statements does not cover the other information and w⁷e will not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information identified above when it becomes available, and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, otherwise appear to be materially misstated.

When u⁷e read the other information, if w⁷e conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance.

6. Responsibility of Management and Those Charged with Governance for the Standalone 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 standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the accounting Standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of 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 financial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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

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

7. Auditor’s Responsibility for the Audit of the Financial Statements

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

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

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act. 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.

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

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

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

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

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

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

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

c. The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d. In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e. On the basis of the written representations received from the directors taken on record by the Board of Directors, none of the directors is disqualified as on 31^s1 March 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 controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexme B.

g. The managerial remuneration for the year ended March 31, 2026, has been paid / provided by the Company to its directors in accordance with the provisions of section 197 read with Schedule V to the Companies Act, 2013.

(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 our opinion and to the best of our information and according to the explanations given to us:

a. The Company does not have any pending litigations which would impact its financial position except for as disclosed in Note 26.2 of the financial statements.

b. The Company did not have any long-term contracts, including derivative contracts, for which there w⁷ere any material foreseeable losses.

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

d. (i) The management, a s explained in Note No.26.11.1 of the financial statements, has represented that, to the best of its knowledge and belief other than as disclosed in the notes to the accounts, no funds have been advanced or loaned or invested (either from borrowed fluids or share premium or any other sources or kind of fluids) by the company to or in any other persons or entities, including foreign entities ("Intermediaries”), until 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, as explained in Note No.26.11.2 of the financial statements, has represented, that, to the best of its knowledge and belief other than as disclosed in the notes to the accounts, 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 othervvise, 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

Based on such audit procedures, that we 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) contain any material mis-statement.

e. The Company has not declared or paid any dividend during the year.

f Based on examination which included test checks, the company has used accounting software for maintaining its books of accounts 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, we dilute come across any instance of audit trail feature being tampered with in respect to the accounting software. Additionally, the audit trail has been preserved by the company as per the statutory requirements for documentation retention.

For Ranjit Karthikeyen Associates LLP.,

Chartered Accountants

FRN:006705S/S0000104

CA. M R Ranjit Karthikeyan, FCA

Paitner(Membership No:-201680)

Place: Punalur

Date: 29-05-2026

ANNEXURE A TO THE INDEPENDENT AUDITOR’S REPORT OF ERs.N DATE ON THE STANDALONE FINANCIAL STATEMENTS OF SOL\T PLASTIC PRODUCTS LIMITED, PUNALUR.

(Referred to in paragraph 8(1) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

i. ) Fixed Assets: In respect of the Companys Property, Plant and Equipment (PPE) and Intangible Assets:

(a) (A) The Company has maintained records showing particulars of fixed assets including quantitative details and location. The Company is in the process of updating the same.

(B) Tile company has maintained records showing particulars of Intangible Assets.

(b) These Properties, Plant and Equipment have been physically verified by the management at reasonable intervals.

(c) The title deeds to the immovable properties owned by the company are held in the name of the company

(d) The company has not revalued its Property, Plant and Equipment during the year.

(e) As per the information and explanations furnished to us, no proceedings have been initiated or are pending against the company for holding any benami property under the Benaini Transactions (Prohibition) Act. 1988 (45 of 1988) and rules made thereunder.

ii. ) Inventories

(a) The inventories have been physically verified by the management during the year at reasonable intervals. The discrepancies noticed on physical verification of stock were not material having regard to the size of the operation of the company.

(b) The company has been sanctioned /renewed working capital limits in excess of five crore rupees, in aggregate, from banks or financial institutions on the basis of security of current assets during the year. In our opinion and according to the information and explanations furnished to us, the quarterly returns or statements filed by the company with such banks or financial institutions are in agreement with the books of accounts of the Company, except in the instances disclosed in Note No 7.2 to the financial statements.

iii) Investments/Loans/Advances and Guarantees

Dining the year, the company has not made any investments in or provided any guarantee or security or granted any loans or advances in the nature of loans, secured or iuiseemed, to companies, firms. Limited Liability Partnerships or any other parties other than those given in the normal course of business.. During the year, the Company has received an unsecured loan of T32,00,000 (Rupees Thirty two Lakhs only) from its Managing Director. Based on the information, explanations and documents produced before us, the said borrowing is within the permissible limits under the applicable provisions of the Companies Act, 2013. The responsibility for ensuring compliance with all applicable provisions rests with the Management of the Company. Accordingly, sub-clauses relating to loans granted, investments and guarantees are not applicable for the year under review

iv) Compliance with Sec 185 and Sec 186

In our opinion and according to the information and explanations given to us, the company had not granted any loans to parties to whom provisions of Sec 185 applies and consequently clauses relating to terms and conditions of loan, payment of interest and repayment of principal and status of overdue are not applicable.

The unsecured loan ofRs.32,00,000 received from the Managing Director does not contravene Section 185, as the said Section governs loans granted by and not received by the Company.

With respect to Section 186, the Company has not made any investments, given any guarantees or provided any security during the year. The Board Resolution authorizing acceptance of the aforesaid loan has been verified by us and the transaction is nithin the prescribed limits. The responsibility for compliance with Sections 185 and 186 rests with the Board of Directors and Management of the Company."

In our opinion and according to the information and explanations given to us. the company has not made any investments, guarantees during the year to which the provisions of Section 185 and 186 of the Companies Act 2013 applies.

v. ) Deposits

In our opinion and according to the information and explanations given to us. the company has not accepted any deposits to which the provisions of Section 73 to 76 of the Companies Act, 2013 and rules made there under applies.

vi. ) Cost Records

In our opinion and according to the information and explanations given to us. the Central Government has not prescribed the maintenance of cost records under Section 148(1) of the Companies Act. 2013, for the company.

vii) Statutory Dues

(a) The company was generally regular in depositing with appropriate authorities undisputed statutory dues towards Provident Fund, Employees State Insurance, Income Tax, Goods & Service Tax, duty of customs, cess and other statutory dues, wherever applicable. There were no arrears of undisputed statutory dues as on the last day of the financial year for a period of more than six months from the date they became payable.

(b) According to the records of the company, there were no unpaid disputed statutory dues outstanding as on the date of balance sheet

viii) Undisclosed Income

In our opinion and according to the information and explanations given to us, there are no transactions which are not recorded in the books of account which have been surrendered or disclosed as income dining the year in the tax assessments under the Income Tax Act, 1961.

ix) Repayment of Loans

In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of interest and principal to banks and financial institutions.

(a) In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of interest and principal to any lender.

(b) Based on the information and explanations given to us, the company has not been declared a wilful defaulter by any bank or financial institution or any other lender;

(c) 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, we report that no fluids raised on short-term basis have been used for long-term purposes by the company.

(d) According to the information and explanations given to us and on an overall examination of the financial statements of the company, we report that the company has not taken any fluids from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures.

(e) According to the information and explanations given to us and procedures performed by us, we report that the company has not raised loans dining the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies.

x) Application of fluids raised

In our opinion and according to the information and explanations given to us, and based on oiu examination of the records of the Company:

(a) The moneys raised by the Company through its Initial Public Offer on the Emerge Platform of the National Stock Exchange (NSE) during the year (including the share premium collected) were applied ear-marked for the purposes for which they were raised, as detailed in the related prospectus.

(b) The Company has not made any preferential allotment or private placement of shares or convertible debentures (fully, partially or optionally convertible) during the year that would require reporting under this clause based on compliance with Section 42 and Section 62 of the Companies Act, 2013.

xi) Frauds

(a) According to the information and explanations given to us, no fraud, on or by the company, has been noticed or reported during the year.

(b) As no fraud, oil or by the company, has been noticed or reported during the year, reporting under this clause as per section 143(12) is not applicable.

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

xii) Managerial Remuneration

In our opinion and according to the information and explanations given to us, managerial remuneration has been paid in accordance with section 197 read with Section II under Part II of Schedule V of the Companies Act, 2013.

xiii) Nidhi Company

In our opinion and according to the information and explanations given to us, the company is not a Nidhi company and hence this clause in not applicable to the company.

xiv) Related Party Transactions

In our opinion and according to the information and explanations given to us, all transactions with the related parties are in compliance with Section 188 of the Companies Act, 2013 wherever applicable and the details have been disclosed in the financial statements as required by the applicable accounting standards.

In our opinion and according to the information and explanations given to us, all transactions with the related parties are in compliance with section 177 and section 188 of the Companies Act, 2013, wherever applicable and the details have been disclosed in the financial statements as required by the applicable accounting standards.

xv) Internal Audit

(a) In our opinion and based on our examination, the company has an internal audit system commensurate widi the size and nature of its business.

(b) We have considered the internal audit report of the company issued for the quarter ended 31.12.2025, which is the only report issued till date, for the period trader audit.

xvi) Non-Cash Transactions

As explained to us, the company has not entered into any non-cash transactions with directors or other persons dining the year

xvip Registration with RBI

The company is not required to be registered trader section 45-LA of the Reserve Bank of India Act. 1934 and hence this clause is not applicable to the Company.

xviii) Cash Losses

According to the information and explanations given to us and based on our examination of the books of account and records maintained by the Company, the Company has not incurred any cash losses during the financial year ended March 31, 2026

xix) Resignation of Auditor

According to the information and explanations given to us, there has been no resignation of the statutory auditors during the year under audit. Consequently, the requirement to consider issues, objections or concerns raised by outgoing auditors trader clause 3(xix) of the Order does not arise.

xx) Going Concern

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 know ledge of the Board of Directors and management plans as further detailed in Note 26.7 to the financial statements 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 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 further 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 hot any assurance that all liabilities felling due within a period of one year from the balance sheet date, will get discharged by the company as and when they fall due.

xxi) Corporate Social Responsibility

The company was not required to spend any amount towards CSR and hence reporting under this clause is not applicable

xxii) Observations by component auditors

Tire company does not have any subsidiaries/associates/joint ventures and hence reporting under this clause is not applicable.

AMSEXURE B TO THE INDEPENDENT AUDITORS REPORT OF ERs.TlN DATE ON THE STANDALONE FINANC IAL STATEMENTS OF SOL\T PLASTIC PRODUCTS LIMITED, THOLICODU. PINAHR.

(Referred to in paragraph 8(2)(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

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

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

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial controls based on “the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India”. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to 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.

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 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, both applicable to an audit of Internal Financial Controls and. both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting w as established and maintained and if such controls operated effectively in all material respects.

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

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

Meaning of Internal Financial Controls Over Financial Reporting

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

d. (i) The management, a s explained in Note No.26.11.1 of the financial statements, has represented that, to the best of its knowledge and belief other than as disclosed in the notes to the accounts, no funds have been advanced or loaned or invested (either from borrowed fluids or share premium or any other sources or kind of fluids) 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, as explained in Note No.26.11.2 of the financial statements, has represented, that, to the best of its knowledge and belief other than as disclosed in the notes to the accounts, 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”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

Based on such audit procedures, that we 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) contain any material mis-statement.

e. The Company has not declared or paid any dividend during the year.

f Based on om examination which included test checks, the company has used accounting software for maintaining its books of accounts 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, we did not come across any distance of audit trail feature being tampered with in respect to the accounting software. Additionally, the audit trail has been preserved by the company as per the statutory requirements for documentation retention.

For Ranjit Karthikeyen Associates LLP.,

Chartered Accountants

FRN:006705S/S0000104

CA. M R Ranjit Karthikeyan, FCA

Partner(Membership No:-201680)

Place: Punalur

Date: 29-05-2026