Wiscon Industries Ltd Auditor Reports

on Restated Standalone Financial Statements of Wiscon

Industries Limited

(As required by Section 26 of Companies Act, 2013 read with Rule 4 of Companies (Prospectus and Allotment of Securities) Rules, 2014)

To,

The Board of Directors WISCON INDUSTRIES LIMITED

C 64, DDA SHED, OKHLA IND AREA PH 1,

South Delhi, New Delhi, India-110020

Dear Sirs,

1. We have examined the attached Restated Standalone Financial Statements of WISCON INDUSTRIES LIMITED (the "Company" or the "Issuer"), comprising the Restated Standalone Statement of Assets and Liabilities as at June 30, 2026, March 31, 2026, March 31, 2025, and March 31, 2024; the Restated Standalone Statements of Profit and Loss; the Restated Standalone Cash Flow Statement for the period ended June 30, 2026, and for the financial year ended as at March 31, 2026, March 31, 2025, and March 31, 2024; the Summary Statement of Significant Accounting Policies; and other explanatory information (collectively, the "Restated Standalone Financial Statements"), as approved by the Board of Directors of the Company at their meeting held on October 14, 2026 for the purpose of inclusion in the Red Herring Prospectus / Prospectus (hereinafter referred to as the "Offer Documents") prepared by the Company in connection with its proposed Initial Public Offer of equity shares ("IPO").

2. These Restated Summary Statements have been prepared in terms of the requirements of:

a) Section 26 of Part-I of Chapter III of the Companies Act, 2013 as amended;

b) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time pursuant to the provisions of the Securities and Exchange Board of India Act, 1992 ("the SEBI ICDR Regulations");

c) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India ("ICAI") as amended from time to time ("the Guidance Note");

d) The applicable regulation of SEBI (ICDR) Regulations, 2018, as amended, and as per Schedule VI (Part A) (11) (II) of the said Regulations;

e) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Statements; and

f) The terms of reference to our engagement letter with the Company requesting us to carry out the assignment, in connection with the proposed IPO of Equity Shares on Stock exchanges.

Managements Responsibility for the Restated Financial Statements

3. The Companys Board of Directors is responsible for the preparation of the Restated Standalone Financial Statements for the purpose of inclusion in the Offer Documents to be filed with the Securities and Exchange Board of India, Registrar of Companies, Delhi and stock exchanges in connection with the proposed IPO. The

Restated Standalone Financial Statements has been prepared by the management of the Company on the basis stated in Annexure IV to the Restated Standalone Financial Statements.

The Board of Directors responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Standalone Financial Statements. The Board of Directors are also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note read with the SEBI Communication, as applicable.

Auditors Responsibility

4. We have examined such Restated Standalone Financial Statements taking into consideration:

a) The terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter in connection with the proposed IPO of equity shares of the Issuer;

b) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI;

c) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Statements; and

d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the IPO.

Restated Financial Statements

5. These Restated Financial Statements have been compiled by the management from the Audited Standalone Financial Statements of the Company prepared in accordance with accounting principles generally accepted in India including the Accounting Standards specified under Section 133 of the Act, ("Indian GAAP") read with the Companies (Accounting Standards) Rules, 2015, as amended which have been prepared for the period ended June 30, 2026 and for the financial year ended on March 31, 2026, March 31, 2025, and March 31, 2024 and have been approved by the Board of Directors.

6. Our Work has been carried out in accordance with the Standards on Auditing under section 143 (10) of the Act, Guidance Note on reports in company Prospectuses (Revised 2019) and other applicable authoritative pronouncements issued by the ICAI and pursuant to the requirements of Section 26 of the Act read with applicable rules and ICDR Regulations. This work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act and the ICDR Regulations in connection with the issue.

7. In accordance with the requirements of Section 26 of Part I of Chapter III of the Act read with the Rules, the ICDR Regulations and the Guidance Note, we have examined the Restated Financial Statements of the company which have been arrived after making adjustments and regrouping /reclassifications, which in our opinion were appropriate, and have been fully described in Note no. 43: Restated Summary Statement of Reconciliation of Restated Profit/ (Loss) to Profit/ (Loss) as per Audited Financial Statements and based on our examination, we report that

a) The "Restated Statement of Assets and Liabilities" as set out in Annexure I to this report, of the Company as at June 30, 2026, March 31, 2026, March 31, 2025, and March 31, 2024, are prepared by the Company and approved by the Board of Directors. The Restated Standalone Statements of Assets and Liabilities has been arrived at after making such adjustments and regroupings to the individual financial statements of the Company as, in our opinion, were appropriate and are more fully described in the Significant Accounting Policies and Notes to Accounts set out in Annexure IV to this Report.

b) The "Restated Statement of Profit and Loss" as set out in Annexure II to this report, of the Company for the period ended June 30, 2026 and for the financial year ended on March 31, 2026, March 31, 2025, and March 31, 2024, are prepared by the Company and approved by the Board of Directors. The Restated Standalone Statements of Profit and Loss has been arrived at after making such adjustments and regroupings to the individual financial statements of the Company as, in our opinion, were appropriate and are more fully described in the Significant Accounting Policies and Notes to Accounts set out in Annexure IV to this Report.

c) The "Restated Summary Statement of Cash Flow" as set out in Annexure III to this report, of the Company for the period ended June 30, 2026 and for the financial year ended on March 31, 2026, March 31, 2025, and March 31, 2024 are prepared by the Company and approved by the Board of Directors. The Restated Summary Statement of Cash Flow has been arrived at after making such adjustments and regroupings to the individual financial statements of the Company as, in our opinion, were appropriate and are more fully described in the Significant Accounting Policies and Notes to Accounts set out in Annexure IV to this Report.

d) The Restated Standalone Summary Statements have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

e) The Restated Summary Statements have been made after incorporating adjustments for changes in accounting policies retrospectively in the respective financial years to reflect the same accounting treatment for all reporting periods, if any.

f) The Restated Summary Statements have been made after incorporating adjustments for prior period and other material amounts in the respective financial years to which they relate, if any, and there are no qualifications which require adjustments.

g) Extraordinary items that need to be disclosed separately in the accounts have been disclosed wherever required.

h) There were no qualifications in the Audit Reports issued by the Statutory Auditors for the period ended June 30, 2026 and for the financial year ended on March 31, 2026, March 31, 2025, and March 31, 2024, which would require adjustments in these Restated Financial Statements.

i) Profits and losses have been arrived at after charging all expenses including depreciation and after making such adjustments/restatements and regroupings as, in our opinion, are appropriate and are to be read in accordance with the Significant Accounting Policies and Notes to Accounts set out in Annexure IV to this Report.

j) The Restated financial statements have been prepared after incorporating adjustments for the material amounts in the respective financial years to which they relate;

k) The Restated financial statements have been made after incorporating adjustments for the changes in accounting policies of the company in respective financial years to reflect the same accounting treatment as per the changed accounting policy for all the reporting years;

l) There was no change in accounting policies, which need to be adjusted in the Restated Financial Statements or Restated Summary Financial Statement;

m) There are no revaluation reserves, which need to be disclosed separately in the Restated Financial Statements or Restated Summary Financial Statement;

n) The Company has not paid dividend on its equity shares during the reporting period.

o) The Company has made provision for gratuity, leave encashment and other retirement benefits as prescribed by Accounting Standard 15 on "Employee Benefits" issued by the Institute of Chartered Accountants of India;

p) The Company has not proposed any dividend in the past effective for the said period.

8. We have also examined the following other financial information relating to the Company prepared by the Management and approved by the Board of Directors of the Company and annexed to this report relating to the Company as at and for the period ended June 30, 2026 and for the financial year ended on March 31, 2026, March 31, 2025, and March 31, 2024, proposed to be included in the Offer Documents:

9. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.

10. We, M/s. Hem Sandeep & Co., Chartered Accountants, have been subjected to the peer review process of the Institute of Chartered Accountants of India ("ICAI") and hold a valid Peer Review Certificate issued by the Peer Review Board of ICAI, valid up to 31st March 2027.

11. The Restated Financial Statements do not reflect the effects of events that occurred subsequent to the respective dates of the reports on the Audited Standalone Financial Statements mentioned in Paragraph 5 above.

12. In our opinion, the above financial information contained in Annexure I to IV and 1 to 43 and read along with the Restated Statement of Significant Accounting Polices and Notes to Accounts as set out in Annexure IV are prepared after making adjustments and regrouping as considered appropriate and have been prepared in accordance with paragraph B, Part II of Schedule II of the Act, the SEBI ICDR Regulations, The Revised Guidance Note on Reports in Company Prospectus and Guidance Note on Audit Reports/Certificates on Financial Information in Offer Documents issued by the Institute of Chartered Accountants of India ("ICAI") to the extent applicable, as amended from time to time, and in terms of our engagement as agreed with you. We did not perform audit tests for the purpose of expressing an opinion on individual balances of account or summaries of selected transactions, and accordingly, we express no such opinion thereon.

13. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by us, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

14. We have no responsibility to update our report for events and circumstances occurring after the date of the report.

15. Our report is intended solely for use of the Board of Directors for inclusion in the Offer Documents to be filed with the Securities and Exchange Board of India, the Stock Exchanges and the Registrar of Companies, Manesar in connection with the proposed IPO. Our report should not be used, referred to, or distributed for any other purpose except with our prior written consent.

Accordingly, we do not accept or assume any liability or duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior written consent.