Vasa Denticity Ltd Auditor Reports

TO THE MEMBERS OF VASA DENTICITY LIMITED

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying standalone financial statements of VASA DENTICITY LIMITED ("the Company"), which comprise the balance sheet as at March 31, 2025, the statement of profit and loss, and statement of cash flows for the year then ended, and notes to die 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 explanations given to us, the aforesaid standalone financial statements give the information required by the Companies Act, 2013 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of die state of affairs of the Company as at March 31, 2025, and its Profit, and its cash flows for the year ended on that date.

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 Standalone 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 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 other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

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

The Key Audit Matter	How the matter was addressed in our audit
Revenue Recognition As the Company revenue is from the trading of vast number of dental products, there are risks related to completeness of revenue, improper sales cut off, timing	\u2022 Cut off procedures performed for year ended 31 st March 2025.
	\u2022 Substantive verification of sales transactions.
	\u2022 Analytical review of sales transactions.
	\u2022 Debtors\u2019 analysis to ensure that all sales reversal are recognized appropriately.
	\u2022 Review that the revenue has been recognized in accordance with the revenue recognition policy of the Company.

?€” LW transactions.

Other Information

The Companys Board of Directors is responsible for the other information The nth e ?€?

the information included in the annual r, n *?–  u a ?–  odier mformatlo n comprises

;;tr repott th "?„? The ^ ^

£££«tzi?€” d °" - - *?–  ~ -».

"Cralrabove le» S """* s . °" responsibility « to te.d toe other

° f Managen,en a " d Th ° Se ?„?* h e ^

to 20°m-Ue Acnl?€ž 0 l D " Ct " ! " " S P°" ibl fo r *e matters stated in section 134(5) of toe Company a f ( A } r Wlth reS P CCt t0 Ae P re P ara tion of these standalone financial statements that give a true and fair view of the financial position, financial performance, and cash flows of die Company in accordance

sectionCTdT Ae S A n ct C1 Cli eS ^ lndudln g Accounting Standards specified under

ection 133 of the Act. This responsibility also includes maintenance of adequate accounting records in

cor ance wit t e provisions of the Act for safeguarding of the assets of the Company and for preventing

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 mltenance

a equate internal financial controls, that were operating effectively for ensuring the accuracy and

statem ents ^thaf: give ^"* to * e P^paration and presentation of the standalone financial

ments that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial statements, the Board of Directors is responsible for assessing the Company sabihty to continue as a going concern, disclosing, as applicable, matters related to going concern sing the going concern basis of accounting unless the Board of Directors either intends to liquidate die Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Companys financial reporting process. Auditors Responsibilities for the Audit of the Standalone financial statements

our opinion. Reasonable assurance is a high level of as or > an to issue an auditor s report that includes

accordance with SAs will always detect a mat ri 1 SSUranCC Ut 1S not a S uarante e that an audit conducted in fraud or error and are const red matend iT7T7" ^ ents can arise from

to influence the economic decisions of user tic" ° l ^ a ® re S ate could reasonably be expected As part of an audit intctdle ^h si J" " ***?^ ****** *"*? Cents

skepticism throughout the audit. We also: C eXeiaSC pW esslonaJ judgment and maintain professional

a maten.1 misstatement resulting from fraud is higher than for one resulting from error as fid may control ° n for ^ *" ?€” olhe eerie o^

?€? Obtain an understanding of internal control relevant to the audit in order to design audit procedures

at are appropriate in the circumstances. Under section 143(3)© of the Companies Act 2013 also respouse for expressmg our opnnon on whether die company ^Zl trial sZZ o tools 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. S

?€? Conclude on die appropriateness of managements use of the going concern bans of accounting and based on die audit evtdence obtamed, whether a material uncertainty exists related to events or conditions that may cast sigmficant doubt on the Companys ability to contmne as , going concern If

r,h 0 eH U H d" i maKm " - -!»<«**> attention J auLrs re"?€žrt

to die .dated disclosures m the standalone financial statements or, if such dtsclosnres are inadequate

o modify our opnnon. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or condihons may cause the Company cease continue as a going concern. V

?€? Evaluate the overall presentation, structure and content of the standalone financial statements cudmg the disclosures, and whether the standalone financial statements represent the underlying transactions and events jn a manner that achieves fair presentation. ^

We communicate with those charged with governance regarding among other matters, Ac planned scope and

we id® )a " "SMficant audit findings, including any sigmficant deficienaes in internal control that

we identify during our audit.

r;t,"r g txri" ce " th * ~ that we h " e * - ?– *-« -*»

ma7 "* S ?€ž" abI? ^ h "« ht *° b ?€” -tendance, aud where applicable,

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 ("the Order"), issued by the Central

m fc"Z A I 11 " """ ° f SUb - Secd °" (") ° f s "»" 1« of*. Compames Ac, 2013, we give extent ^ ^ " P"W» 3 and 4 of the Order, to the

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

a. We have sought and obtifined all the information and explanations which 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 Sheer, 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, *e aforesaid standalone financial statements comply wi* *e Accounting

Standards specified under Section 133 of the Act, read wi* Rule 7 of tire Comp,ores (Accounts) Rules, 2014. r

e. On the basis of the written representations received from the directors as on March 31, 2025 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2025 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 m Annexure B".

g. With respect to the matter to be included in the Auditors Report under Section 197116) of

the Act: * v 1

In our opinion, die managerial remuneration for the year ended March M omth u ?€? ,

rsri: " rec,o,s m ** *?– ?€”

h. With respect to the other matters to be included in the Auditors Report in accordance with e 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. There are no pending litigations on the Company.

7 ITT 1 " 5

nr. There has been no delay in transfemng amounts 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 its knowledge and belief no funds (which are material either individually or in the aggregate) have been advanced or loaned or invested (either from borrowed hinds or share premium or any other- sources or kind of hinds) by the Company or i?€ž any other person or entity inducing foreign entity ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest m other persons or entities identihed in any manner whatsoever by or on behalf of the Company ("Ultimate Benef.ciar.es") or provide any guarantee, secunty or the like on behalf of the Ultimate Beneficiaries;

(b) The Management has represented, that, to the best of its knowledge and belief no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity ("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;

(c) Based on the audit procedures that have been 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), as provided under (a) and (b) above, contain any material misstatement.

v. Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of account which have a feature of recording audit trail (edit log) facility and that has operated throughout the year for

elevant transactions recorded in accounting software. Duting the course of performing our procedures we did no, notice any instance of audit L featuTb?„? ampered with and the audit trad has been preserved by the Company as per die statutory requirements for record retention. 7 P

For KRA & Co.

Chartered Accountants * (Firm Registration No.020266N)

Saurabh Garg Partner

Membership No.: 510541 UDIN: 25510541BMJJNL8163 Place: Delhi Date: May 16, 2025

*

L q riir^ P tokri:; heading ° f **>"«?€”^ - **->*

quantitative del Ll^Z,^4^1^ EqlZ," "^

(B) The Company haa maintained pcoper tecords showkg M assets.

(b) In accordance with the phased programme for verification of Property Plant and Fn, in *

cettam .terns of Ptiopet* Pian, and Eqntpment svete phys.Cly

during dm year and no material diacrepanciea were noticed on and, venfication 8

(C> olfZSlTcoml" Sc "" 8 T " " S " d "" h 1 ^°four examination

Conaequendy, clauae ®(

^ "y TheTom" ®T " " °" * b " S of ""»»

asr dum8

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ir,SL LI" c" " U,lder ^ S ° d "" ®« Order is

(«) The management has conducted phyaical venfication of inventones a. reasonable interval

invemorvl y 7 """r 1 the aggregate for each class of

entory) wer

and procedure of such verification by the management is appropriate. §

(b) According to die infonnation and explanations given to us and on the basis of our examination

of the records of the Company, the company has not been sanctioned with any working capital hunts in excess of five crore rupees, in aggregate, from banks or financial institutions on the

to the^ompan^ C ° nSeqUen ^ dauSe ®>

recordb^of A ^ a ^ UU&mB ^ t0 Us and on basis of our examination of die

cords of the Company the company has made an investment in two subsidiary Companies named

Waldent Innovations Private Limited" and "Smileworks Pvt Ltd", the investment made is not prejudicial to the interest of the Company. Tfce Company has not provided any guarantee or security or granted any loan or advances in the nature of loan to any party. *

H According to the information and explanations given to us and on the h i f ?– 

records of the Company the Comnanv ha ,?–  , ?–  . . th e basis of our examination of the

the Companres Act 2o£tresn H Tfthe provtstons of Sections 185 and 186 of and securities, as applicable, ° 8 "" Priding guarantees

W cT P T° S ^ " " " d 0n ^ b " S ° f

^ dePO " ^ ^ - C "?€”

oUbe Companies Act, 2 0,3. Co?€žse q ?€že»d y , daj^ ££££>

M to us and on * e basis ofour " ° f ?– *"

(a) gT d° mp ,7 haS 7 erally been regUkr in de P° sitin g un disputed statutory dues including Goods and Services Tax, Provident Fund, Employees State Insurance, Income-tax Sales-tax

e ice Tax, Custom Duty, Excise Duty, value added tax, cess and any other statutory dues during the year, with the appropriate authorities and there are no material statutory dues 1

~ " " 31 * 2025 f ° r a P"° d * - months from the date became

(C) ^ ere arC n °7 eS ° f G °° dS and SerViCCS TaX Pro vident Fund, Employees State Insurance

other^Ttut hTu ^ CUSt ° m ^ ^ Duty VaIue added tax > cess and "7

ther statutory dues which have not been deposited as on March 31, 2025, on account of

disputes with the related authorities.

^ rtorf Mthe C £ ^ e * bau ^ ^ en to us and die basis of our examination of die

records of the Company, there are no transactions which are not recorded in the books of account and

7^1"" ^ dlSd ° Sed aS mC ° me dUm8 ^ " ** ^ assessments ?„?der the Income

(1X) ^ A f C " rdmg ^ the / I ! f ° rmati0n and ex P lanations g lv en to us and on the basis of our examination

of the records of the Company, the Company has not defaulted in the repayment of dues to financial institutions or banks.

(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 not been declared willful defaulter by any bank or financial institution or other lender.

(C) ofT rdln8 n * f 7 f °^ nati0n and ex P lana dons given to us and on the basis of our examination e records of the Company, the Company has not availed any term loan during the period Consequently, clause (ix)(c) of the Order is not applicable to the Company. ?

(d) According to the information and explanations given to us and on the h if ?–  ?– 

of the records of the Comoanv i n , d h baS1S ° f our exal ?„?nation

PUVOKS - CO " S ^" d! - JLT ^c"e

(C) 0fTtc 8 0ris^t,Sl 0 " " d «° us and on die bas* of ex,* n

pe S »o "f*"* »

(0 XSstflor" 011 ""IP?„? - >"d °» .he basis of ?€ž ex,nation

the records of the Company, the Company has not raised any loans during the year on the

applicable toTc"mp" " ^ (ix)(f) of dae Cede, as not

(X) ^ Ac "° rdln g ^ the information and explanations given to us and on the basis of our examination

of the records of the Company, the Company has not raised any money during the year by die way of Intnal Public Offer (IPO), clause (x)(a) of the Order is not applicable to die Company

^ ofTete n cords dl o e f i ^ S lven to us and " the basis of our examination

ot the records of the Company, in respect of the preferential allotment of equity shares the

Ac^nT/ reqUlrCment of Section 42 and S ^tion 62 of die Compames

raised " " ^ ^ ^ pUfp ° se for whlch * e funds have been

® T ° * e beSt ° f ° Ur kn °wledge and according to the information and explanations given to us

no material fraud by die Company or on the Company has been noticed or reported during the year. &

(b) According to tfie information and explanations given to us, no report under sub-section (12) of section 143 of the Companies Act has been filed by the auditor in Form ADT-4 as

Govemmtnt nder ^ ^ ° f Com P ames ( Audit and Auditors) Rules, 2014 with the Central

(c) According to die information and explanations given to us, no whisde blower complaints has

the Company 1116 ^ C ° nSequent ^ clause ( xl X c ) of the Order is not applicable to

(xn) According to the information and explanations given to us, the Company is not a Nidhi Company. Consequendy, clause (xii) of the Order is not applicable to the Company.

(xiii) 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 188 of Companies Act, 2013, and corresponding details have been disclosed in the standalone financial statements, as required by the applicable Accounting Standards.

(xiv) (a) In our opinion and according to the information and explanations given to us, the Company

has an internal audit system commensurate with the size and nature of its business

?€”eiy preceding

^ oZt ?€ž n ?€ž°,TTT ° [ ZZ mOCy Audlt0r dum « ,he >""?€? Consequently, clause (xviii, of the Order is not applicable to the Company.

(xtx) According to the information and explanations given to us and on the basis of the financial ratios

?–  ^ ng £XpeCted datCS ° f reabsatlon of financial assets and payment of financial liabilities othe^ ormation accompanying the standalone financial statements, our knowledge of the Bolrd of Directors and management plans and based on our examination of the evidLce supporting the assumptions, nothing has come to our attention, which causes us to believe that any matll

T S " T T dat£ ° f th£ &at 1116 C ° mpa ^ is not ca P able of meeting its

from th bT t , b3lanCe ShCet aS and When the ^ fal1 due a period of one year

of the C a anCC wl T WC h ° WeVer State that ^ is not an ass urance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audk

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.

(xx) In our opinion and according to the information and explanations given to us, the Company has fully spent trie amount required to be spend under section 135 of the Companies Act, 2013. Consequently, clause (xx) of trie Order is not applicable to the Company.

//

Saurabh Garg Partner

Membership No.: 510541 UDIN: 25510541BMJJNL8163 Place: Delhi Date: May 16, 2025

Requirements" iTouZ^lZil"") he heiUli " g " ReP

cue Collar) ^u2l Tr 2 025 r° IS ° Ver fmai l ClaI rep ° rting ° f VASA DENTICITY LIMITED

?€? he Company for *.yZ d Z^ «*»«. fmanca! statements of

Managements Responsibility for Internal Financial Controls

components o f intern, centre! stated i theUnee ^

±e d a f P °7 g 1SSUCd ^ 1116 InStitUtC ° f Chaftered Acco ^tants of India. Ihese responsibilities include eff ri f /"P £mentatl0n 311(1 maintenance of adequate internal financial controls that were operating tively for ensuring the orderly and efficient conduct of its business, including adherence to company! po cies the safeguarding of its assets, the prevention and detection of frauds and errors the accuracy and

:r r ^

*

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on our aucht. We conducted our audit in accordance with the Guidance Note on Audit of Interna! Finanaal Controls Over Financial Reporting (the "Guidance Note") issued by Instate of Chartered

901 r° n a ! nd ,!! e Standards ° n Auditln g prescribed under section 143(10) of the Companies Act 3, to the extent applicable to an audit of internal financial controls, 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 was established and maintained and lr 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 contro s over inancial reporting included obtaining an understanding of internal financial controls over mancial reporting, assessing the nsk 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 standalone 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 ove[

tr^dT 8 " " P " CeSS tleSi8ned " Prov,de reaS0 " b1

fo «?€”> P"P"M in accorlce

financial control oner financial reporting L?€žd« rh 1 8 P " C P eS A ""W*

maintenance of records fhaUncJoSde^a 7 P °? S ^ *" <>> ?€?» the

of the assets of the company; (2) provide reasoaahr^ 7 " 7 " fleCt * ""anions and dispositions

permit preparation of standalone financial ,r t suance ai transacnons are recorded as necessary to principles, and dial receipts and expenditures ofThT a " 0td * n " " th 6?„?erally accepted accounting authorisations of management and directors of th com P"y a " beM g made only in accordance with

prevent or timely diction

conld have a material effect on .Jte standalone finanaal sMemenis. ""P" 5 5 """ dut

Inherent Limitations of Internal Financial Controls Over Financial Reporting

pos«t 7 ?€žfcollu ! io..«^^l^^ <^ o f C ^^^^t^i»d»Iinefe

fraud may occur and not be deter-md Alow ?€ž ?€? aj r misstatements due to error or

financial reporting to future periods are r ° ,eCtl0n f ° evaluation of the internal financial controls over

reporting may become htadequatUie ft *° * " al ""o over financial

policies LprL"y rll ^ n C ° n "°" " ^ *«" ° P witi, die

Opinion

For KRA & Co.

Chartered Accountants (Firm Registration No.020266N)

Saurabh Garg Partner

Membership No.: 510541 UDIN: 25510541BMJJNL8163

Place: Delhi Date: May 16, 2025