INDEPENDENT AUDITORS' REPORT

Audit Opinion

  • Auditors issued an unqualified opinion stating the financial statements give a true and fair view in conformity with accounting principles generally accepted in India
  • Opinion covers the Balance Sheet as at March 31, 2026, Statement of Profit and Loss, Statement of Cash Flows, and notes to financial statements
  • Audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013

Key Financial Reporting Aspects

  • Proper books of account maintained as required by law
  • Financial statements comply with Accounting Standards specified under Section 133 of the Act
  • No directors disqualified as on March 31, 2026 under Section 164(2) of the Act
  • Remuneration to directors in accordance with Section 197 read with Schedule V

Litigation and Contingencies

  • Company has disclosed impact of pending litigations on financial position (Refer Note 28 to financial statements)
  • No long-term contracts including derivative contracts with material foreseeable losses
  • No amounts required to be transferred to Investor Education and Protection Fund

Representations and Compliance

  • Management represented that no funds were advanced/loaned/invested to intermediaries for ultimate beneficiaries
  • Management represented that no funds were received from funding parties for ultimate beneficiaries
  • Audit procedures confirmed no material misstatement in these representations

Dividend Declaration

  • Company did not declare or pay any dividend during the year

Technology Compliance

  • Company used accounting software with audit trail (edit log) facility throughout the year
  • Audit trail not tampered with and preserved by the Company

Annexure A Findings

Fixed Assets:

  • Maintained proper records showing full particulars of property, plant and equipment and intangible assets
  • Regular program of physical verification of fixed assets at reasonable intervals
  • Company owns immovable property during the year
  • No revaluation of property, plant and equipment during the year
  • No proceedings under Benami Transactions (Prohibition) Act, 1988

Inventory:

  • Inventory (except goods-in-transit) physically verified by management at reasonable intervals
  • No working capital limits sanctioned in excess of ₹5 crores from banks/financial institutions

Loans and Investments:

  • Investments made and terms of loans granted not prejudicial to company's interest
  • No stipulation of repayment schedule for loans granted
  • No overdue amounts on loans granted as at balance sheet date
  • No loan renewals/extensions or fresh loans to settle overdue amounts
  • Complied with provisions of Sections 185 and 186 of Companies Act, 2013

Statutory Dues:

  • Generally regular in depositing undisputed statutory dues including PF, ESI, income-tax, sales tax, customs, excise, VAT, GST
  • No outstanding dues as of March 31, 2026 for more than six months
  • No disputed dues with appropriate authorities

Loan Repayment:

  • No default in repayment of loans and interest to banks
  • Not declared wilful defaulter by any bank/financial institution
  • Term loans utilized for intended purposes
  • No short-term funds used for long-term purposes

Fund Raising:

  • No money raised through initial public offer or further public offer (including debt instruments)
  • No preferential allotment or private placement of shares or convertible debentures

Fraud and Whistleblower:

  • No fraud by company or on company by officers/employees noticed or reported
  • No report under Section 143(12) filed with Central Government
  • No whistle-blower complaints received

Other Compliance:

  • Not a Nidhi Company
  • Related party transactions compliant with Sections 177 and 188 of Act
  • Internal audit system commensurate with size and nature of business
  • No non-cash transactions with directors or connected persons
  • Not required to register under Section 45-IA of RBI Act, 1934
  • No cash losses in current or preceding financial year
  • No resignation of statutory auditors during the year
  • No material uncertainty about meeting liabilities within one year from balance sheet date
  • No unspent amount under Section 135(5) of the Act
  • No subsidiary or associate entities requiring consolidated financial statements

Annexure B - Internal Financial Controls

  • Company has adequate internal financial controls with reference to financial statements
  • Internal financial controls operating effectively as at March 31, 2026
  • Controls based on criteria established by company considering essential components from ICAI Guidance Note
  • Management and Board responsible for establishing and maintaining internal financial controls