Auditor Report of Lenskart Solutions Ltd.

Mar 31, 2026

We have audited the accompanying Standalone Ind
AS Financial Statements of Lenskart Solution Limited
(formerly known as Lenskart Solution Private Limited)
(“the Company”), which comprise the Balance Sheet
as at March 31,2026, the Statement of Profit and Loss,
including the statement of Other Comprehensive
Income, the Cash Flow Statement and the Statement
of Changes in Equity for the year then ended, and
notes to the Standalone Ind AS Financial Statements,
including a summary of material 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 Ind AS Financial Statements
give the information required by the Companies
Act, 2013, as amended (“the Act”) in the manner so
required and 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 March 31, 2026, its profit including other
comprehensive income, its cash flows and the
changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the Standalone Ind
AS Financial Statements in accordance with the
Standards on Auditing (SAs), as specified under
section 143(10) of the Act. Our responsibilities under
those Standards are further described in the ‘Auditor''s
Responsibilities for the Audit of the Standalone Ind AS
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 Ind AS Financial Statements under the
provisions of the Act 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 audit opinion on the Standalone Ind AS
Financial Statements.

Key Audit Matters

Key audit matters are those matters that, in our
professional judgment, were of most significance
in our audit of the Standalone Ind AS Financial
Statements for the financial year ended March 31,
2026. These matters were addressed in the context
of our audit of the Standalone Ind AS Financial
Statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on
these matters. For each matter below, our description
of how our audit addressed the matter is provided
in that context.

We have determined the matters described below to
be the key audit matters to be communicated in our
report. We have fulfilled the responsibilities described
in the Auditor''s responsibilities for the audit of the
Standalone Ind AS Financial Statements section of
our report, including in relation to these matters.
Accordingly, our audit included the performance of
procedures designed to respond to our assessment of
the risks of material misstatement of the Standalone
Ind AS Financial Statements. The results of our audit
procedures, including the procedures performed to
address the matters below, provide the basis for our
audit opinion on the accompanying Standalone Ind
AS Financial Statements.

Key audit matters	How our audit addressed the key audit matter
Impairment of non-current investments in subsidiaries, associates and joint ventures carried at cost (as described in note
5 of Standalone Ind AS Financial Statements)
The Company has non-current investments in subsidiaries,	Our audit procedures included the following:
joint ventures and associates amounting to ''41,515.90 million as at March 31, 2026. The Company records such investments at cost less any provision for impairment loss.	•	We understood, evaluated and tested the operating effectiveness of internal controls implemented by the Company relating to identification of impairment
The management assesses at least annually, the existence		indicators and valuation of non-current investments.
of impairment indicators of each non-current investments, and in case of existence of impairment indicators, such investments are subject to an impairment test.	•	Assessed the Company''s accounting policies relating to impairment of non-current investment in accordance with applicable accounting standards.
The impairment assessment involves significant use of estimates and judgements in relation to identification of impairment event and the determination of impairment charge.	•	We evaluated the Company''s valuation methodology applied in determining the recoverable amount. In making this assessment, we also assessed the objectivity and independence of Company''s specialists
During the current year, management identified impairment		involved in the process.
indicators relating to non-current investments. Accordingly, an impairment assessment was required to be performed by the Company by comparing the carrying value of these investments to their recoverable amount to determine whether an impairment was required to be recognised.	•	We evaluated the key assumptions to external market data and other key drivers such as cash flow forecasts including discount rates, expected growth rates and terminal growth rates used with assistance from our valuation specialists.
For the purpose of impairment testing, the value in use is highly sensitive to changes in some of the inputs used for forecasting the future cash flows and the determination of the recoverable amount of the non- current investments involved judgement due to inherent uncertainty in the assumptions supporting the recoverable amount of these investments.	•	We assessed the valuation methodology including the key assumptions adopted in the cash flow forecasts considering current economic scenario, including retrospective reviews to prior year''s forecasts against actual results to assess the recoverability of investments.
Accordingly, the impairment of non-current investments was determined to be a key audit matter in our audit of the Standalone Ind AS Financial Statements.	•	We discussed potential changes in key drivers as compared to previous year / actual performance with management to evaluate whether the inputs and assumptions used in the cash flow forecasts were
The basis of impairment of non-current investments is		suitable.
presented in the accounting policies in note 2.5 to the Standalone Ind AS Financial Statements.	•	We tested the arithmetical accuracy of the models.
	•	We assessed the adequacy of the disclosures made in the Standalone Ind AS Financial Statements.

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

The Company''s Board of Directors is responsible
for the other information. The other information
comprises the information included in the Annual
report, but does not include the Standalone Ind AS
Financial Statements and our auditor''s report thereon.

Our opinion on the Standalone Ind AS 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 Ind AS
Financial Statements, our responsibility is to read the
other information and, in doing so, consider whether
such other information is materially inconsistent
with the Standalone Ind AS Financial Statements or

our knowledge obtained in the 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.

Responsibilities of Management
for the Standalone Ind AS Financial
Statements

The Company''s Board of Directors is responsible
for the matters stated in section 134(5) of the Act
with respect to the preparation of these Standalone
Ind AS Financial Statements that give a true and fair
view of the financial position, financial performance
including other comprehensive income, cash flows
and changes in equity of the Company in accordance
with the accounting principles generally accepted
in India, including the Indian Accounting Standards

(Ind AS) specified under section 133 of the Act read
with the Companies (Indian Accounting Standards)
Rules, 2015, as amended. This responsibility also
includes maintenance of adequate accounting
records in accordance with the provisions 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 judgments
and estimates that are reasonable and prudent;
and the 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
Ind AS 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 Ind AS 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 the Standalone Ind AS Financial
Statements

Our objectives are to obtain reasonable assurance
about whether the Standalone Ind AS 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 Ind AS
Financial Statements.

As part of an audit in accordance with SAs, we exercise
professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material
misstatement of the Standalone Ind AS 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.

^• 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
Act, we are also responsible for expressing our
opinion on whether the Company has adequate
internal financial controls with reference to
Standalone Ind AS Financial Statements 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.

^• 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 Standalone Ind AS 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 auditor''s report. However, future events or
conditions may cause the Company to cease to
continue as a going concern.

• Evaluate the overall presentation, structure
and content of the Standalone Ind AS Financial
Statements, including the disclosures, and
whether the Standalone Ind AS 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, including 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.

From the matters communicated with those
charged with governance, we determine those
matters that were of most significance in the audit
of the Standalone Ind AS Financial Statements
for the financial year ended March 31, 2026 and
are therefore the key audit matters. We describe
these matters in our auditor''s report unless law or
regulation precludes public disclosure about the
matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated
in our report because the adverse consequences of
doing so would reasonably be expected to outweigh
the public interest benefits of such communication.

Report on Other Legal and Regulatory
Requirements

1. As required by the Companies (Auditor''s Report)
Order, 2020 (“the Order”), issued by the Central
Government of India in terms of sub-section
(11) of section 143 of the Act, we give in the
“Annexure 1” a statement on the matters
specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act, we
report, to the extent applicable, 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 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 except
with respect to the matters stated in the
paragraph 2(i)(vi) below on reporting
under Rule 11(g).

(c) The Balance Sheet, the Statement of Profit
and Loss including the Statement of Other
Comprehensive Income, the Cash Flow
Statement and Statement of Changes
in Equity dealt with by this Report are in
agreement with the books of account;

(d) In our opinion, the aforesaid Standalone
Ind AS Financial Statements comply
with the Accounting Standards specified
under Section 133 of the Act, read with
Companies (Indian Accounting Standards)
Rules, 2015, as amended;

(e) On the basis of the written representations
received from the directors as on
March 31, 2026 taken on record by the
Board of Directors, none of the directors
is disqualified as on March 31, 2026 from
being appointed as a director in terms of
Section 164 (2) of the Act;

(f) The modification relating to the maintenance
of accounts and other matters connected
therewith are as stated in paragraph (b)
above on reporting under section 143(3)(b)
and serial number (vi) of paragraph (i) below
on reporting under Rule 11(g).

(g) With respect to the adequacy of the internal
financial controls with reference to these
Standalone Ind AS Financial Statements and
the operating effectiveness of such controls,
refer to our separate Report in “Annexure 2”
to this report;

(h) In our opinion, the managerial remuneration
for the year ended March 31, 2026 has
been paid / provided by the Company to its
directors in accordance with the provisions of
section 197 read with Schedule V to the Act;

(i) With respect to the other matters to
be included in the Auditor''s Report in
accordance with Rule 11 of the Companies
(Audit and Auditors) Rules, 2014, as
amended in our opinion and to the best
of our information and according to the
explanations given to us:

i. The Company has disclosed the
impact of pending litigations on its
financial position in its Standalone
Ind AS Financial Statements - Refer
note 36 to the Standalone Ind AS
Financial Statements;

ii. The Company did not have any
long-term contracts including derivative
contracts for which there were any
material foreseeable losses;

iii. There were no amounts which were
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, other than as disclosed in the
note 45 (iv) to the Standalone Ind AS
Financial Statements, 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 person(s) or entity(ies), including
foreign entities (“Intermediaries”), 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”) or
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, no funds have been received
by the Company from any person(s)
or entity(ies), including foreign
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 on such audit procedures
performed 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 (a) and (b) contain any
material misstatement.

v. No dividend has been declared or paid
during the year by the Company.

vi. Based on our examination which included
test checks, the Company have used
multiple accounting software including third
party applications 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,
as explained in note 47 of the Standalone
Ind AS Financial Statements, in respect of
main accounting software operated by third
party, in the absence of control around audit
trail feature at database level in the service
organization control report, we are unable to
comment on whether audit trail feature was
enabled and operated throughout the year.

Further, during the course of our audit we
did not come across any instance of audit
trail feature being tampered with, in respect
of accounting softwares including third
party applications to the extent enabled.
Additionally, the audit trail of relevant prior
years has been preserved by the company
as per the statutory requirements for record
retention, to the extent it was enabled and
recorded in those respective years, except
with respect to main accounting software,
in the absence of controls in the service
organization controls, we are unable to
comment whether the audit trail has been
preserved by the company as per the
statutory requirements for record retention.

For S.R. Batliboi & Associates LLP

Chartered Accountants

ICAI Firm Registration Number: 101049W/E300004

per Yogesh Midha

Partner

Membership Number: 094941

UDIN: 26094941SOYFGW7868

Place of Signature: Michigan, USA

Date: May 20, 2026

---

Mar 31, 2025

We have audited the Standalone IndAS Financial Statements of Lenskart Solutions Private Limited ("the
Company”), which comprise the Balance sheet as at March 31 2025, the Statement of Profit and Loss, including
the statement of Other Comprehensive Income, the Cash Flow Statement and the Statement of Changes in Equity
for the year then ended, and notes to the Standalone IndAS Financial Statements, including a summary of material
accounting policies and other explanatory information (hereinafter referred as "Standalone IndAS Financial
Statements).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
Standalone IndAS Financial Statements give the information required by the Companies Act, 2013, as amended
("the Act”) in the manner so required and 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 March 31,2025, its profit including other
comprehensive income, its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the Standalone IndAS Financial Statements in accordance with the Standards on
Auditing (SAs), as specified under section 143(10) of the Act. Our responsibilities under those Standards are
further described in the ’Auditor''s Responsibilities for the Audit of the Standalone IndAS Financial Statements’
section of our report. We are independent of the Company in accordance with the ’Code of Ethics’ issued by the
Institute of Chattered Accountants of India together with the ethical requirements that are relevant to our audit of
the Standalone IndAS Financial Statements under the provisions of the Act 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 audit
opinion on the Standalone IndAS Financial Statements.

Other Information

The Company''s Board of Directors is responsible for the other information. The other information comprises the
information included in the Board report, but does not include the Standalone IndAS Financial Statements and
our auditor''s report thereon.

Our opinion on the Standalone IndAS 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 IndAS Financial Statements, our responsibility is to read the other
information and, in doing so, consider whether such other information is materially inconsistent with the
Standalone IndAS Financial Statements or our knowledge obtained in the 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.

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect
to the preparation of these Standalone IndAS Financial Statements that give a true and fair view of the financial
position, financial performance including other comprehensive income, cash flows and changes in equity of the
Company in accordance with the accounting principles generally accepted in India, including the Indian
Accounting Standards (IndAS) specified under section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended. This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions 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 judgments and estimates that are reasonable and prudent; and the 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 IndAS 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 IndAS 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 the Standalone IndAS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Standalone IndAS 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 IndAS Financial
Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Standalone IndAS 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.

• 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 Act, we are also responsible forexpressing
our opinion on whether the Company has adequate internal financial controls with reference to Standalone
IndAS financial statements 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.

• 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
Standalone IndAS 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 auditor’s report. However, future
events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Standalone IndAS Financial Statements,
including the disclosures, and whether the Standalone IndAS 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, including 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 Central
Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "Annexure I’ a
statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act, we report, to the extent applicable, 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 our audit;

(b) In our opinion, proper books of account as required by law have been kept by the Company so tar as it
appears from our examination of those books except (a) with respect to one inventory management
software, the Company does not have server located in India for the daily backup of the books of account
and other books and papers maintained in electronic mode, refer Note 47B of the Standalone IndAS
Financial Statements and (b) the matters stated in the paragraph 2(i)(vi) below on reporting under Rule
11(g)-

(c) The Balance Sheet, the Statement of Profit and Loss including the Statement of Other Comprehensive
Income, the Cash Flow Statement and Statement of Changes in Equity dealt with by this Report are in
agreement with the books of account;

(d) In our opinion, the aforesaid Standalone IndAS Financial Statements comply with the Accounting
Standards specified under Section 133 of the Act, read with Companies (Indian Accounting Standards)
Rules, 2015, as amended;

(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;

(0 The modification relating to the maintenance of accounts and other matters connected therewith are as
stated in paragraph (b) above on reporting under section 143(3 )(b) and serial number (vi) of paragraph
(i) below on reporting under Rule 11(g).

(g) With respect to the adequacy of the internal financial controls with reference to these Standalone IndAS
Financial Statements and the operating effectiveness of such controls, refer to our separate Report in
“Annexure 2" to this report;

(h) The provisions of section 197 read with Schedule V of the Act are not applicable to the Company for the
year ended March 31,2025;

(i) 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, as amended in our opinion and to the best of our
information and according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its
Standalone IndAS Financial Statements - Refer Note 36 to the Standalone IndAS Financial
Statements:

ii. The Company did not have any long-term contracts including derivative contracts for which there
were any material foreseeable losses;

iii. There were no amounts which were 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, other than as
disclosed in the note to 45 (iv) he Standalone IndAS Financial Statements, 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 person(s) or entity(ies), including foreign
entities (“Intermediaries”), 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’) or
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, no funds have
been received by the Company from any person(s) or entity(ies), including foreign 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 person(s) or entity(ies)
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 on such audit procedures performed 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 (a) and (b) contain any material misstatement.

v. No dividend has been declared or paid during the year by the Company.

vi. Based on our examination which included test checks, the Company have used multiple accounting
softwares including third party applications for maintaining its books of account which has a feature
of recording audit trail (edit log) facility and the same has been operated throughout the year for all
relevant transactions recorded in the software except, as explained in note 47A of the Standalone
IndAS Financial Statements, (a) in respect of main accounting software operated by third party, in
the absence of control around audit trail feature at database level in the service organization control
report, we are unable to comment on whether audit trail feature was enabled and operated
throughout the year (b) for turn Inventory management softwares audit trail feature was enabled in
phase wise manner i.e. July 30, 2024 onwards and therefore was effective through the remaining
part of the year till year end.

Further, during the course of our audit we did not come across any instance of audit trail feature
being tampered with, in respect of accounting softwares including third party applications from the
date audit trail feature has been enabled. Additionally, with respect to main accounting software, in
the absence of controls in the service organization controls, we are unable to comment whether the
audit trail has been preserved and with respect to inventory management softwares audit trail have
been preserved by the company as per the statutory requirements for record retention, to the extent
it was enabled.

For S.R. Batliboi & Associates LLP

Chartered Accountants

1CAI Firm Registration Number: I0I049W/E300004
per Yogesh Midha

Partner

Membership Number: 094941
UDIN: 25094941BMKRTG63S9
Place of Signature: New Delhi
Date: May 21,2025