Storage Technologies & Automation Ltd Auditor Reports

To, The Members of Storage Technologies and Automation Limited

1. Opinion

We have audited the standalone financial statements of Storage Technologies and Automation Limited ("the company"), which comprise the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss for the year then ended, the Statement of Cash Flows for the year then ended, and notes to the standalone 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 explanation 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 Standards prescribed under section 133 of the Act read with Companies (Accounting Standard) Rules, 2021 and other accounting principles generally accepted in India:

a. In the case of balance sheet, of the state of affairs of the Company as at March 31, 2026;

b. In the case of statement of profit and loss, the loss for the year ended on that date;

c. In the case of cash flow statement, of the cash flows for the year ended on that date.

2. Basis of Opinion We conducted our audit in accordance with the Standards of Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those standards are further described in the Auditors responsibility for the Audit of the standalone Financial Statements 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 ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Companies Act, 2013 and the rules thereunder, and we have fulfilled our ethical responsibilities in accordance with these equirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis of our opinion.

3. Emphasis of Matter We draw attention to Note 36B to the standalone financial statements, which states that, pursuant to the Karnataka Compulsory Gratuity Insurance Rules, 2024, issued under the powers conferred by the Payment of Gratuity Act, 1972, the Company is required to obtain gratuity insurance or establish an approved gratuity fund to meet its gratuity obligations. However, as at the balance sheet date, the Company has neither obtained such insurance nor established an approved gratuity trust, resulting in non-compliance with the aforesaid regulatory requirements. Further, the company has recognised the entire past service cost arising on account of the impact of the new wage code in the Statement of Profit and Loss during the year. As per paragraph 94 of Accounting Standard (AS) 15 – *Employee Benefits*, past service cost attributable to unvested employees is required to be recognised over the average remaining vesting period, while the vested portion is recognised immediately. However, the Company has not bifurcated the past service cost between vested and unvested employees and consequently the amount requiring deferred recognition could not be ascertained. In the opinion of the management, the impact thereof is not material to the financial statements. Our opinion is not modified in respect of this matter.

4. Other Matters The standalone financial statements of the entity for the year ended March 31, 2025, were audited by another auditor who has expressed an unmodified opinion on those statements on May 29, 2025. Our opinion is not modified in respect of these matters.

5. Other Information: The companys Board of Directors are responsible for the preparation of the other information. The other information comprises of the information included in the Annual report but does not include the standalone financial statements and auditors report thereon. The Annual report is expected to be made available to us after the date of this auditors report. Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit, our responsibility is to be read the other information and, in doing so, consider whether such other information is materially inconsistent with the standalone financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

6. Managements Responsibility for the standalone Financial Statements The companys Board of Directors are responsible for the matters stated in section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation 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 read with Companies (Accounting Standard) Rules, 2021. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the standalone financial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the company or to cease operations or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the companys

7. Auditors Responsibilities for the Audit of the standalone Financial Statements Our objectives are to obtain reasonable assurance about whether standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial statements. As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

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

b) 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, we are also responsible for expressing our opinion on whether the company has adequate internal financials controls system in place and the operating effectiveness of such controls.

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

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

e) 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 presentations. Materiality is the magnitude of misstatements in the standalone financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone financial statements may be influenced. We consider quantitative materiality and qualitative factors in

(i) planning the scope of our audit work and in evaluating the results of our work, and

(ii) to evaluate the effect of any identified misstatements in the standalone financial statements. We communicate with those charged to governance regarding, among the 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 that we have complied with ethical requirements regarding the independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and where applicable, related safeguards.

8. Report on Other Legal and Regulatory Requirements

8.1. As required by the Companies (Auditors Report) Order, 2020, 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", a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

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

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

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

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

(d) In our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the accounting standards specified under Section 133 of the Act, read with Companies (Accounting Standard) Rules, 2021.

(e) Based on the written representations received from the directors taken on record by the Board of Directors, none of the directors are 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 controls with reference to standalone financial statements and the operating effectiveness of such controls, refer to our separate Report in "Annexure B" to this report.

(g) In our opinion, 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 Act;

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

i. The company does not have any pending litigations which would impact its financial position. However, all the pending litigations on the company are disclosed in the standalone financial statements (refer Note number 38)

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

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

iv. a. The management has represented that, to the best of their knowledge and belief, other than as disclosed in the notes to the accounts, if any, 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 person(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 behalf of the Ultimate Beneficiaries;

b. The management has represented, that, to the best of their knowledge and belief, other than as disclosed in the notes to the accounts, if any, no funds have been received by the Company from any person(s) or entity(ies), 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; and c. Based on such audit procedures we have 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 (a) and (b) contain any material misstatement.

v. Based on our examination and according to the information and explanations provided to us, the dividend declared and paid during the year by the company is in compliance with section 123 of the Act. vi.Based on our examination, which includes test checks, the company has used 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 from September 29, 2025 and the same has operated throughout the year for all relevant transactions recorded in the software from the date of enablement. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with. Additionally, the audit trial has been preserved by the company from the date of enablement as per the statutory requirements for record retention.

ANNEXURE TO INDEPENDENT AUDITORSS REPORT ANNEXURE-A

Referred to in Paragraph 8.1 of our report of even date and according to the information and explanation given to us and on the basis of our examination of records 1. In respect of its Property, Plant and Equipment and Intangible Assets:

a. The company has maintained records showing full particulars including quantitative details and situation of Property, plant and equipment. The company does not hold any intangible assets. Accordingly, clause (i)(a)(B) of paragraph 3 of the Order is not applicable

b. The company has a policy to verify Property, Plant and Equipment physically by the management once in three years. In our opinion, and according to the information and explanation given to us, having regard to the size of the company and the nature of Property, Plant and Equipment, the periodicity of physical verification is reasonable. Pursuant to the policy, the management has represented that the verification was done in the last financial year. However, report was not made available for our verification and hence, we are not commenting on the same. c. The company has constructed buildings (temporary structures) on the land taken on lease and hence the title deeds for the same are not in the name of the company. The details of constructed buildings are given below:

Gross Block	Net Block
191.28 lakhs	94.59 akhs

d.The company values its Property, Plant and Equipment and intangible assets on cost basis. Hence, commenting on clause i(d) of paragraph 3 of the order does not arise.

e. There are no proceedings initiated or pending against the company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder. In respect of its inventories: In respect of its inventories:

a. The management has conducted the physical verification of inventory and no material discrepancies were noticed during the verification.

b. During the year, the company has been sanctioned working capital limits in excess of five crores rupees, in aggregate, from banks or financial institutions on the basis of security of current assets. Based on our examination of the records of the company, we observed that the quarterly returns/statements filed with the banks/financial institutions are not in agreement with the books of accounts of the company. The details of such differences are tabulated as under:

Particulars	Amount submitted with Bank	Amount as per Books	Differences
Inventory – Q1	1,798.08	1,798.08	-
Inventory – Q2	1,493.35	1,545.63	(52.27)
Inventory – Q3	1,246.70	1,246.70	-
Inventory – Q4	1,597.73	1,597.73	-
Trade Receivables – Q1	3,539.51	3,689.66	(150.14)
Trade Receivables – Q2	3,981.18	4,054.45	(73.27)
Trade Receivables – Q3	3,572.83	3,927.66	(354.83)
Trade Receivables – Q4	2,656.51	3,089.30	(432.79)

The difference in Trade Receivables is on account of advances received from customers. The Company has submitted the receivables after netting off the advances received. However, for the books of account, the actual trade receivables have been considered. Further, while submitting the inventory balance to the Bank, the Company has not considered certain direct expenses incurred as part of Work-in-Progress (WIP).

3. During the financial year, the company has not made any investments in, provided any 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, except the loan given to the employees: a. (A) The aggregate amount of Loan balance outstanding as at March 31, 2026, in respect of loans provided to subsidiaries has been provided under:

Particulars	Amount (In Lakhs)
Aggregate amount of advances in the nature of loan granted/provided during the year	-
Balance outstanding as at the balance sheet date in respect of amount granted/provided	35.00

(B) The aggregate amount of Loan balance outstanding as at March 31, 2026, in respect of loans provided to employees has been provided under:

Particulars	Amount (In Lakhs)
Aggregate amount of advances in the nature of loan granted/provided during the year	7.99
Balance outstanding as at the balance sheet date in respect of amount granted/provided	1.81

b. In our opinion, the prima facie, the terms and conditions of the grant of all the above-mentioned employee loans are not prejudicial to the companys interest.

c. The repayment of principal and interest for loan has been stipulated and the repayments are regular.

d. There are no overdue amounts for more than 90 days.

e. The company has not granted any loans or renewed or extended or fresh loan granted to settle the overdue of existing loans given to the same parties. Therefore, reporting on the clause (iii)(e) of the paragraph 3 of the order is not applicable to the company.

f. The company has not granted any loans or advances in the nature of loans either repayable on demand or without specifying any terms or period of repayment during the year and hence, reporting on the clause (iii)(f) of the paragraph 3 of the order is not applicable to the company.

4. During the financial year, the company has not made any investments, provided guarantee or security or granted any loans and hence commenting on compliance with section 185 and 186 of the Companies Act, 2013 will not arise. Further, the company has made investments and loans in the preceding financial year and the same was outstanding as on the balance sheet date.

5. The company has not accepted any deposits from the public and hence commenting on clause (v) of paragraph 3 of the order will not arise.

6. The rules made by the Central Government for the maintenance of cost records under section 148(1) of the Companies Act, 2013 is not applicable to the company and hence commenting on clause (vi) of paragraph 3 of the order will not arise.

7. In respect of Statutory dues

a. The company does not have liability in respect of Service Tax, Duty of Excise, Sales Tax and Value Added Tax during the year since effective July 01, 2017, these statutory dues has been subsumed into Goods and Services Tax (GST). The company is regular in depositing undisputed statutory dues including GST, Employees State

Insurance, Provident Fund, Income-Tax, Duty of Customs or Cess or any other statutory dues to the appropriate authorities except for delays in depositing Provident fund and Employees State Insurance for few months. There are no undisputed statutory dues including GST, Provident Fund, Employees State Insurance, Income-tax, Duty of Customs or Cess and any other statutory dues were in arrears as at March 31, 2026 for a period of more than six months from the date they became payable.

b. There are no dues of GST, Provident Fund, Employees State Insurance, Income Tax, Duty of Customs or cess or any other statutory dues on account of disputes.

8. 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.

9. In respect of loans and other borrowings

a. The Company has not defaulted in the repayment of loans and other borrowings or in the payment of interest thereon to any lender during the financial year. b. The company has not been declared a willful defaulter by any bank or financial institution or government or government authority.

c. The term loans obtained by the company have been applied for the purpose for which they were obtained.

d. We report that no funds raised on a short-term basis have been utilised for long-term purposes by the Company.

e. The Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures.

f. The Company has not raised any loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies. 10. In respect of monies raised

a. The Company has not raised monies by way of initial public offer or further public offer during the year. Hence commenting on the clause x(a) of paragraph 3 will not arise.

b. The company has not made any preferential allotment or private placements of shares or convertible debentures (fully, partially or optionally convertible) during the year. Hence commenting on the clause x(b) of paragraph 3 of the order will not arise.

11. In respect of fraud

a. Based upon the audit procedures performed, we report that no fraud by the company or on the company have been noticed or reported during the course of our audit.

b. No report under section 143(12) of the Companies Act, 2013 has been filed by the auditors in ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

c. The company has not received any whistle blowers and hence considering the same will not arise.

12. The company is not a Nidhi Company. Hence, commenting on the paragraph xii Page 13 of 19 will not arise. MSSV & Co. Continuation Sheet

13. In our opinion, 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 standard.

14. In respect of Internal Audit as an internal auditor. In our opinion, the internal audit system commensurate with the size and nature of its business.

b. We have considered the internal audit reports of the company till the date for period under audit.

15. In our opinion, the company has not entered into any non-cash transactions with its directors or persons connected to its directors and hence commenting on compliance with section 192 will not arise.

16. In respect of compliance as per Reserve Bank of India Act, 1934

a. The company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. Hence, obtaining registration does not arise.

b. The company has not carried out any Non-Banking Financial or Housing Finance activities. Hence obtaining valid Registration of Certificate does not arise.

c. The company is not a core investment company (CIC) as defined in the regulations made by the Reserve Bank of India. Hence, commenting on the clause xvi(c) of paragraph 3 of the order will not arise.

d. The Group does not have any CIC, hence commenting on clause xvi(d) of paragraph 3 of the order will not arise.

17. During the period covered under audit, the company has incurred cash losses amounting to Rs.214.22 lakhs. The company had not incurred cash losses in the immediately preceding financial year.

18. During the year, there is change in auditors on account of appointment of new auditors by members in the Annual General Meeting held on September 27, 2025.

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

20. The company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there are no unspent CSR amount for the year requiring a transfer to a Fund specified in schedule VII to the Companies Act, 2013 or special account in compliance with the provisions of the sub section 6 of section 135 of the Act. Hence, commenting the clause xx of paragraph 3 of the order will not arise.

21. We are reporting on the standalone financial statements of the company and hence commenting on clause xxi of paragraph 3 of the order does not arise.

ANNEXURE ‘B TO INDEPENDENT AUDITORS REPORT

Referred to in paragraph 8.2(f) 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 Storage Technologies and Automation 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. Managements Responsibility for Internal Financial Controls The Companys 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 ("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 companys policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of 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 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 the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls system over financial reporting. Meaning of Internal Financial Controls over Financial Reporting A companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

A companys internal financial control over financial reporting includes those policies and procedures that: Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; 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 authorisations of management and directors of the company; and Provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys assets that could have a material effect on the financial statements. Inherent Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial controls over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Opinion In our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls 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 issued by ICAI. The Company has established internal financial controls that are generally operating effectively. However, during the course of the audit, certain controls and processes in a few areas were found to be insufficiently documented. We have provided recommendations to management to mitigate risks and further strengthen the documentation and related control procedures. Management has reviewed and agreed with the observations and recommendations and has represented that necessary steps will be taken to implement the same within a reasonable timeframe, thereby further enhancing the effectiveness of the internal financial control framework

For MSSV & Co.,

Chartered Accountants

FRN: 001987S

Ravi Prasad

Partner

Membership No. 203414

UDIN: 26203414OPNBOF9904

Place: Bangalore

Date: May 29, 2026