Auditor Report of Adroit Industries (India) Ltd.

We have audited the accompanying standalone financial statements of Adroit Industries India
Limited ("the Company"), which comprise the Balance sheet as at 31st March 2026, and the
statement of Profit and Loss [including other comprehensive income), statement of changes in
equity and statement of cash flows for the year then ended and notes to the financial statements,
including a summary of* material accounting policies and other explanatory infbrmatioa

In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid financial statements give the information required by the Act in the manner so required
and give a true and fair view in conformity with accounting principles generally accepted in India,
of the state of affairs of the company as at 31st March, 2026 and its profit (including other
comprehensive income), the changes in equity 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 Auditor''s Responsibilities for the Audit of the Financial Statementssection of our
report We are independent of the Company in accordance with the Code of Ethicsissued by the
Institute of Chartered Accountants of India together with the ethical requirements that are relevant
to our audit of the 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.

Information Other than the Financial Statements and Auditor''s Report Thereon

The Company''s Board of Directors is responsible for the preparation of the other information. The
other information comprises the information included in the Annual Report but does not Include
the financial statements and our auditor''s report thereon.

Our opinion on the 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 financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the 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 of this
other information; we are required to report that fact We have nothing to report in this regard.

Management''s Responsibility for the standalone Financial Statements

The Company''s Board of Directors is responsible for the matters stated in section 134{5) of the
Companies Act 2013 (the Act) with respect to. the preparation of these standalone financial
statements that give a true and fair view of the financial position, financial performance, statement
of changes in equity and cash flow of the company in accordance with the accounting principles
generally accepted in India, including the Indian Accounting Standard specified under Section 133
of the Act read with rules framed thereunder. This Responsibility also includes maintenance of
adequate accounting records in accordance with the provision of the Act for safeguarding of the
assets of the company and for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgment 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
Company''s 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.

Those Board of Directors are also responsible for overseeing the Company''s financial reporting
process.

Auditor''s Responsibilities for the Audit of tbe 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 an auditor''s 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 judgment and maintain
professional skepticism throughout the audit We also:

a. Identify and assess the risks of material misstatement of the 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 for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.

b. Obtain an understanding of internal controls 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 financial controls with reference to financial statements 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 management

d. Conclude on the appropriateness of management''s use of 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 Company''s ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are
required to draw attention in our auditor''s report to the related disclosures in the Financial
Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions
are based on the audit evidence obtained up to die date of our auditor''s 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 Financial Statements,
including the disclosures, and whether the standalone Financial Statements represent the
underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, inctuding any significant deficiencies in
internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with
relevant 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.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report] Order, 2020 ("the Order"] issued by the
Centra] Government of India in terms of sub section (11) of section 143 of the Act, we give
in the Annexure A statement on the matters specified in the paragraph 3 and 4 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 purpose of our audit

b) In our opinion, proper bodes of account as required by law have been kept by the Company,
so far as appears from our examination of those books except for the matters stated in the
paragraph g(vi) below on reporting under Rule 11(g) of die Companies (Audit and
Auditors) Rules, 2014.

c) The Balance Shieet, the Statement of Profit and Loss, statement of changes in equity and
Cash Flow Statement dealt with by this report are In agreement with the books of account

d) in our opinion, the aforesaid standalone financial statement comply with the accounting
standards specified under section 133 of the act, read with Rules framed thereunder.

e) On the basis of die written representations received from the directors as on 31“ March
2026 taken on records by the Board of Director, none of die directors is disqualified as on
31** March, 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 over financial reporting of
the Company and die operating effectiveness of such controls, refer to our separate report
in "Annexure B".

r

g) WJth respect to the other matters to be Included In the Auditor’s Report in accordance with
Rule 11 of die Companies (Audit and Auditors) Rules, 2014, in our opinion and to be best of
our information and according to die explanations given to us:

L The company has disclosed the impact of pending litigations on its financial
position in its financial statement - refer note 32 to the financial statements;

iL The Company did not have any long term contract including derivative contract
for which there were any material foreseeable losses.

Hi. There were no amount which were required to be transferred to the Investor
Education and Protection Fund by the company.

iv. (1) The management has represented that, to the best of its knowledge and
belief, 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 persons or entities, including foreign entities
(*lnt£rmediaries^H), with the understanding, whether recorded In writing or
otherwise, that the Intermediary shall:

• directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever ("Ultimate Beneficiaries”) by or on behalf of the Company or

• provide any guarantee, security or the like to or on behalf of file Ultimate
Beneficiaries.

(2) The management has represented, that, to the best of its knowledge and
belief, no funds have been received by the Company from any persons or entities,
including foreign entities ("Funding Parties"), with the understanding, whether
recorded in writing or otherwise, that the Company shall:

• directly or indirectly, lend or invest in other persons or entities identified in any
manner whatsoever ("Ultimate Beneficiaries”) by or on behalf of the Funding
Party or

• provide any guarantee, security or the like from or on behalf of the Ultimate
Beneficiaries; and

(3) Based on such audit procedures as 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 (iv) (1) and (iv) (2) contain any
material mis-statement.

v. The company has not declared or paid dividend during the year hence provisions
of Section 123 of the Act are not applicable.

vi. Based on our examination which'' included test checks, the company has used an
accounting software for maintaining its books of account which has a feature of
recording audit trail (edit log) facility and the same has operated throughout the
year for all relevant transactions recorded in the software except that stock
register and register for property plant and equipment maintained in software
which has no audit trail feature. Further, during the course of our audit we did
not come across any instance of audit trail feature being tampered with.

The audit trail of prior year (s) has been preserved by the company as per the
statutory requirements for record retention.

h. With respect to the matter to be included in the Auditors'' Report under Section 197(16) of
the Act, In our opinion and according to the information and explanations given to us, the
remuneration paid by the Company to its directors during the current year is in accordance
with the provisions of Section 197 read with Schedule V to the Act