Techknowgreen Solutions Ltd Auditor Reports

To

the Members ot

Techknowgreen Solutions Limited

Flat 202, Hem Opal Apartment,

PIol No. 2?, Ekta Society, Wokadewadi, shivojinagar,

Pune, Maharashtra - 411005

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying Standalone Financial Statements ot fechknawgreen Solutions Limited {"the Company"), which comprise the balance sheet as at 31st March 2025, and the statement of Profit and Loss and statement of cash flows for the year then ended, and notes to the Standalone Financial Statements, including

0 summary of significant accounting policies and other explanatory information.

1 n 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 Company Aci, 2013 (the Act") in the manner so required ond 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 31st March, 2025, its profit and Its cash flows for the yeaT ended on fhai date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section T43fl0) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the

Auditors Responsibilities for rhe Audit ot the Standalone Financial Statements section Of oui report We ore Independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit af the Standalone Financial Statements under the provisions of ihe companies Act, 2013 and the Rules thereunder, ond we hove fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics, We believe that the audit evidence we nove obtained is sufficient and appropriate to provide a basis for our opinion.

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

KEY AUDIT MATTER No.	AUDITORS RESPONSE
1 Revenue Recognition for Turnkey Contracts (Works Contracts)	Our audit procedures included, among others:
The Company applies the stage-of - completion method to recognise revenue on long-term turnkey contract sin accordance with Accounting Standard (as) 7. "construction contracts," and AS 9, "Revenue Recognition." Under as 7, contract revenue Is measured at the fair value of consideration receivable and recognised in profit or loss by reference to the proportion of contract costs; incurred to date against the total estimated contract costs. AS 9 requires that revenue, including amounts recoverable on variations and claims be recognised only when it is probable that economic benefits will flow to the Company and the amount of revenue can be measured reliably	- Evaluating managements process for estimating total contract costs, including the identification of cast contingencies, by inspecting budgets, cost forecasts and supporting documentation
Significant management judgements and estimates are applied in:	* Testing the accuracy of costs incurred to date for a sample of significant contracts by examining subcontractor invoices, material purchases and labour records.
* Estimating total contract casts, including appropriate cost contingencies for identified risks, uncertainties or disputed claims. These estimates are reviewed and updated throughout the contract life cycle.	* Reviewing the reasonableness of managements stage of completion calculations and their reconciliation to underlying cost records,
* Determining the stage of completion by comparing costs incurred at the reporting date with the total estimated costs at contract completion	* inspecting managements analyses of contracts forecast to be loss making and verifying that anticipated losses have been recognised In full.
* Identifying and recognising expected contract lasses immediately when total estimated contract costs exceed contract revenue, as required by AS 7	* Challenging managements assessment of variable consideration by examining Correspondence with customers, change-order approvals and dispute-settlement documentation to determine whether amounts are both probable of recovery and reliably measurable,
- Assessing the probability and reliable measurability or variable considerations such as contract variations and claims prior to including these amounts in contract revenue, as required by AS 9.	We consider revenue recognition for turnkey contracts to be a key audit matter due to the significant judgements involved in estimating total contract casts, determining stage of completion, and assessing variable consideration

Information other than the Standalone Financial Statements and auditors

report thereon

The Companys board of directors is responsible for the preparation of the other information The other information comprises the information included in the Boards Report including Annexures to Gourds Report but does not include the Standalone Financial Statements and our auditors report, thereon.

Our opinion on the SLandalone Financial Statements does not cover the other information and we do not express any form

of assurance conclusion thereon,

In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated,

If, based on the work we have performed, we conclude that there is a material misstatement ol this other Information, we are required to report that fact. We hove nothing to report In this regard.

R espo ns ibil Ma nagem ent. q nd

Those Charged with Goyernance forj he St g n d Q! 9n e_Fj non g j a LS.tot e m e n ts

ThfeCompanys BoorttofEtirsctorsieresponsible for the matters stated in section 134(B) of the Companies Act. 2013 (-the Act") with respeci to the preparation of these standalone Financial Statements that give a true and fair view of the financial position, financial perlnrmance 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 fri accordance with the provisions of the Act for safeguarding of the assets of the Company and tor preventing and detecting frauds and other Irregularities; selection ana application of appropriate accounting policies; malting judgments and estimates that are reasonable and prudent: and design, implementation and maintenance of adequate internal linancial 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 lair view and are Ire? 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 os a going concern, disclosing, os applicable, matters related to going concern and using the going concern basis cl 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 arc also responsible for overseeing the Companys financial reporting process.

Auditors Responsibillties for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue on 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 ?As will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material If, Individually nr in the aggregate, -hey could

reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial Statements,

AS part of an audit In accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout Ehe oudit. We also:

* identity and assess the risks of material misstatement of the Standalone rinanciai 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 tar our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for on? resulting from error, as fraud may involve collusion, forgery, intenflona! 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 areaiso 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 Lhe reason able ness of accounting estimates and related disclosures mad? by management

- Conclude on the appiopriateness ol managements use ol the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures In the Standalone Financial Statements or, if such disclosures are inadequate, to modify our opinion, Our conclusions are based on the audit evidence Obtained up to the date of Our auditors report. However, future events or conditions may cause Hie Company to ceose to continue as a going concern,

* Evaluate the overall presentation, structure and content of the Standalone Financial Stole men is, including the disclosures, and whether the Standalone Financial statements .?present the underlying transactions and events in o manner that achieves fair presentation.

Materially 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 or the Standalone Financial Statements may bo influenced. We consider quantitative materiality and qualitative factors In (i) planning the soaps of aur audit work and in evaluating the results of ou: work; and (ii) to evaluate the effect of any Identified misstatements in the Standalone Financial Statements,

W? communicate with those charged with governance regarding, among other maLteis, the planned scope and timing of the audit and significant audit findings. Including any significant deficiencies In .nterno! control thui we identify during our audit.

We also provide those charged with governance with a statement that we hove compiled With i ?Ibvant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Reportuftn_other LggaLaiidJtegul.ataFy

Requirements

1. As required by the Companies (Auditors Report) Order, 2020 ("the Order"), Issued by the Central Government o India in terms of sub-section (11) of section 143 of the Companies Act. 2013, we give in the Annexure A, o statement on the matters specified in paragraphs 3 and A of the Order, to the extent applicable,

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 nur audit

b. In our opinion,, proper books of accounl 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 ol the Act and rules made thereunder,

e. On the basis of the whiten representations

received tram the directors as on 31st March, 2025 taken on record by the Board oi Directors, none of the directors is disqualified qs on 31st March, 2025 from being appointed as a director in terms of Section 164 (2) of the Act.

ft With respect to the adequacy of the internal financial controls with reference to standalone Financial statements of the Company and the operating effectiveness of guch controls, ref of la Our separate Report in ^JAnnexuie B.

g. With respect to the matter to be Included in the Auditors Report under section 197(16), in our opinion and according to the information and explanations given to us, the remuneration paid by the Company la its directors during the current year is in accordance with Lhe provisions of section 197 of the Act. The remuneration paid to any director is not In excess of the limit laid down under section 197 of the Act The Ministry at Corporal? Affairs has not prescribed othei details under section 197{lo) which are required to be commented upon by us. (applicable in case of Public Company)

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 lhe besi of our information and according to hie explanations given to us;

i The Company does 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 inoLerial loreseeable losses.

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

Iv.(a) The management has represented that, to ih? best of its knowledge and belief, other thon ns disclosed in the notes to the accounts, no funds hove 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 entitles (Intermediates¹), 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") Of provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(b) The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any person(s) or entity (ies), including roreign 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 an such audit procedures that hove been considered reasonable ana appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and fil) of Rule 11(e), as provided under [a) and (b) above, contain any material mis-statement

v. No dividend have been declared or paid during the year by the company.

vl. Based on our examinarion which included test checks, the company has used on accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and thesome hasoperated throughout t bo year for all relevant transactions recorded in the software. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with.

Annexure A

The Annexure referred to in paragraph I of Our Report on "Other Legal and Regulatory Requirements".

We report that:

i;

a. (A) The company has maintained proper records showing full particulars, Including quantitative details and situation of Property, Plant and Equipment;

(b) The company has maintained proper records showing full particulars of intangible assets;

b. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Property, Plant and Equipment hove been physically verified by the management at reasonable intervals; no material discrepancies were noticed on such verification;

c. According to the information ond explanations given to us and on i he basis o! our examination of the records b( the Company, the title deeds of all the immovable properties father than properties where ihe company is the lessee and the lease agreements are duly executed In favour of the lessee) disclosed rn the Standalone Financial Statements are held in the ncime of the company, except the following:-

Description of Property	Gross carrying value	Held in name of	Whether promoter, director or their relative or employee	Period held - indicate range, where appropriate	Reason for not being held in name of company
			NIL

e. According to the information and explanations given to us a nd on the basis al our examination of Lhe records of the company, Lhe company has not revalued Its Property, Plant and Equipment (including Right of Use assets) or intangible assets during the year Accordingly, the reporting under Clause 3(tJ(d) of the Order Is not applicable to the Company.

f. According ta the information ond explanations given to us and on the basis of our examination of the records of the Company, there ore no proceedings have been initiated or are pending against the company for holding ony benaml property under the Benaml Transactions (Prohibition) Act 1938 (45 of 1988) and rules made thereunder,

II. (a) As explained to us and on the basis of the records examined by us. in our opinion, physical verification of inventory has been conducted at reasonable intervals by the management, in our opinion, the coverage and procedure ol such verification by the management is appropriate no discrepancy of )0% or more in the aggregate tar each class at inventory were noticed on physical verification of stocks by the management as compared to book records,

(b) According to the information and explanations given to us and on the bosis of our examination of the records of the Company, the company has not been sanctioned during any point of time of the year, working capital limits in excess at rive crore rupees, In aggregate, from banks or financial institutions on the basis of security ot current assets and hence reporting under clause.3(ii)(b) of the Order is nor applicable

Hi. According to Lhe i nformet ion and explanations given to us a nd on the bosis ni our exomi notion of the records of the company; the company has not made investments In, nor provided any guarantee or security or granted any loans or advances in the nature ot loans, secured or unsecured, ro companies, firms. Limited Liability Partnerships or any other parties during the year Accordingly, provisions of clause 3(1if)(a), 3(iii)(b), 3(iii)(c), 3(Eii)(d), 3(iti)(e) and 3(fll)(f) ol Lhe Order are not applicable to the Company. However, the company hos made investments in Subsidiary which is not prejudicial to the companys Interests.

Iv According to the infoi motion and explanations given to us and onthe bnsisof our examination ol the records in respect ot loons, Investments, guarantees, and security, provisions of section 105 and 186 of the Companies Act, 2D13 have oesn complied with except non charging of interest on the loan.

v. The company has not accepted any deposits or amounts which are deemed to be deposits covered under sections 73 to 76 of the Companies Act, 2fjil3, Accordingly, clause 3(v} of the Order is not applicable.

vi. As per information and explanation given by the management, maintenance of cost records has not been specified by the Central Government under sub-section (1) of section 148 of the Companies Act,

vJL (a) According to the Information ond explanations given to us and on the basic of our examination of the records of the company, the company is regular in depositing undisputed statutory dues including Goods and Services Tax, provident fund, employeesstate insurance, rncometox. sates-tax. service tax. duty of customs, duty ol excise, value added tax, cess ond any other statutory clues to the appropriate authorities. According to !he Information and explanation given to us there were no outstanding statutory dues as on 31st of March, 2025 for a period ol mare than six months from the date they became payable except as stated below:-

Name of the Statute	Nature of the Dues	Amount (RS.)	Period to which the amount relates
income Tax Acr, 1961	TDS	1,34,690	A Y 2022-23

(b) According to the information and explanations given to us and on the basis ot our examination of the records of the company, there is no statutory dues referred to in subdouse (a) that have not been deposited on account ol any dispute except (allowing

Name of the Statute	Nature of the Dues	Amount (Rs.)	Period to which the amount relates	Forum where dispute is pending	Remortts, if Any
Income Tax Act, 1961	TDS	8,99,510	A Y. 20IB-10	Commissioner (Appeals)

vlfl,According to she Information and explanations given ta us and an the basis of ourexamlnation of the records of the company, the C ompany lias not surrendered or disclosed ony transactions, previously unrecorded as income in the books of account in the tax assessments under the Income Tax Act, 196) as income during the yeor.

ix. (a) According to the information and explanations given to us and on the basis of our examination of the records Of the company, the company has not defaulted in repayment of loans or other borrowings:

(b) According to the information and explanations given to us and on the basis of our examination of the records ot The company; the company has not been declared a willful defaulter by any bank or financial institution or other tender;

(c) According to the information and explanations given to us by the management, the Company has utilized the money obtained by way of term loans during the year for the purposes for which they were obtained

(d) According to the information and explanations given to us arid on an overall examination of the balance sheet of i he Company, W9 report that no funds raised on short term basis have been used tor long term purposes by the company.

(e) lhe Company does not hold any investmeni in any subsidiary, associate orjojni venture (as defined under lhe Act) during l he year ended 31 March 2025, Accordingly, clause 3(ix)(e) is not applicable.

(f) The Company does not hold any investment in any subsidiary,, associate or joint venture fas defined under the Act) during the year ended 31 March 2G25, Accordingly, clause 3{rx)(l) Is not applicable.

x. (a) Busedonoui audit procedures and according to the information given by the management, moneys raised by way of Initial public offer or further public offer (including deb! instruments) during the year were applied for the purposes for which those are raised,

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has utilised Funds raised by way of preferential allotment or private placement of shares or convertible debentures (fully partially or optionally convertible) for the purposes far which they were raised, except for the following:

Nature of Securities viz. Equity shares / Preference shares / Convertible debentures	Purpose for which funds were raised	Total Amount Raised /opening un- utilized balance	Total Amount Raised /opening un-utilized balance	Un-utilized balance as at Balance sheet date
		NIL

xi, (a) Rased on examination of the books and records of the Company and according tfl the Information and explanations given to us, no fraud by the company or ary fraud on the company has been noticed or reported during the course of audit

(b) According lo the information and explanations given to us, no report under sub-section (12) of section 143 of (he Companies Act has been liled by the auditors in Farm ADT- 4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government;

(a) According to the Information and explanations given to us by the management, no whis Lie-blower complaints had been received by the company

xn. The company fs not a Nidhi Company. Accordingly, clause 3(xii)(a)_r 3(xii)(b) and 3{xilJ(e) of the Order is not applicable.

xiii, In our opinion and according to the information and explanations given to us, al I transactions with the related parties are in compliance with sections 177 and 186 of Companies Act. where applicable and tile details hove been disclosed In the Standalone Financial Statements, as required by the applicable accounting standards;

xlv. (a) Eased an information and explanations provided to us and our audit procedures, the company has an internal audit system commensurate with the size and nature of its business,

{b) We have considered the internal audit reports of the Company issued till dote for the period under audit.

xv. In our opinion and according to the information and explanations given to us, 1 he company has nor entered into any non-cash transactions with directors or persons connected with him and hence, provisions of Section 1S2 of the Companies Act 2013 ore not applicable to the company

xvl. In our Opinion and based on our examination, the Company is not required to be registered under section 45-1A Of the Reserve Bank of India Act, 1934 %2 of 1934), Accordingly, clause 3(xvi) (a) of the Order is riot applicable,

xvri. Based on our examination, the company has not incurred cash losses In ihe financial year and in the immediately preceding financial year.

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

vise According ro the information and explanations given to us and on the basis of the financial

ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, oar knowledge of the Boardol Director sand management plans and based an oar 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 ot the audit report that company is not capable of meeting its liabilities existing at the date oJ balance Sheet as and when they tall 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 stale 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 foiling due within a period of one year from the balance sheet date, will get discharged by the company as and when they fall due.

xv. Based no our examination, the provision of section 135 are not applicable on the company, Accordingly, clauses 3(xx) [a) and 3[xv)(bJ of the Order ore not applicable.

Annexure S

Report on Internal Financial Controls with reference to Standalone Financial Statements

Report on t he ititefnol Financial Controls under Clous & ffl of Sub-section 3 of Section 143 of the C_qmpantes.AcL 2013 {"the Acil)

We have audited the internal financial controls over financial reporting of Techknowgreen Solutions Limited ("the Company¹") os or March 31, 2025 in conjunction with our audit of the Standalone Financial Statements of the Company lor the year ended on that dale.

Managements Responsibility for internal Financial Controls

The Companys management Is responsible far 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 fn 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 tor ensuring the orderly and efficient conduct of its business, including adherence to companys policies, the sareguaiding of iLs 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,

Audi tori Respon sibl Itty

Our responsibility is to express on 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 ICA! ond deemed to be prescribed under section 143(10) oi the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to on audit of Internal Financial Controls and, both issued by the institute of Chartered Accountants of India, those Standards and ihe Guidance Note require that we comply wlLh 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 (he 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 andevaluating thedesign and operating effectiveness of internal control based on the assessed risk The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement at the standalone Financial Statements, Whether due to fraud or error

We believe that the audit evidence we have obtained is sufficient and appropriate io provide a basis for our audit opinion on the Companys internal financier controls system over financial reporting.

Meaning of Internal Financial Controls Over Finoncial Reporting

A companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting ond the preparation of Standalone Financial Statements for external purposes in accordance with generally accepted accounting principles A companys interna! financial control over financial reporting includes those policies and procedures Thai

I perrain to the maintenance of records that, in reasonable detail, accurately and fairFy reflect the transactions and dispositions of the assets of the company;

2, provide reasonable assurance that transactions are recorded as necessary to permit

preparation of Standalone Financial Statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company ore being mode only in accordance with authorisations of management and directors of the company; and

3. provide reasonable assurance regarding prevention or timely detection ol unuulhomed acquisition, use, or disposition ot the companys assets that could have a material effect or the Standalone Financial Statements,

Inherent Limitations of Internal Financial Controls Over Financial departing

Because of the Inherent limitations of internal fiha ncfa I controls oyfer 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 detecied. Also, projections of any evaluation of the Internal financial controls over financial reporting to future periods are subject to the risk that the Infernal financial control over financial reporting may become inadequate because of changes In conditions, or that the degree ot compliance with the policies or procedures may deteriorate.

Opinions

In our opinion, the Company has, in all material respects, an adequate internal financial controls system aver financial reporting and such internal financial controls over financial reporting were operating effectively as ot March 31, 2025,. based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control Stated m the Guidance Mote an Audit af Internal Financial Controls Over Financial Reporting Issued by the Institute ol Chartered Accountants ol India.