Raideep Industries Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2024

We have audited the accompanying standalone financial statements of RAIDEEP INDUSTIRES LIMITED ("the
company"), which comprise the Balance Sheet as at 31 March 2024, the Statement of Profit and Loss, the Cash Flow
Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

The Company''s Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 ("the
Act") with respect to the preparation of these financial statements that give a true and fair view of the financial
position, financial performance and cash flows of the Company in accordance with the accounting principles generally
accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014. This responsibility also includes the 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 the frauds and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of internal
financial control, that were operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.

Auditor''s Responsibility

Our responsibility is to express an opinion on these consolidated financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are
required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act.
Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal financial control relevant to the Company''s preparation of the financial statements that
give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates
made by Company''s Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the financial statements.

Opinion

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 the accounting principles generally accepted in India;

a) In the case of the Consolidated Balance Sheet, of the state of affairs of the Company as at March 31,2024.

b) In the case of the Consolidated Statement of Profit and Loss, of the profit for the year ended on that date; and

c) In the case of the Consolidated Cash Flow Statement, of the cash flows for the year ended on that date.

Emphasis of matter paragraph:

We would like to draw attention to clause 1 (c) of the annexure attached wherein the company has purchased land
and building valued at Rs. 148.06 Lakhs. The company has paid the full consideration against such purchase and has
also taken possession of such asset on 20 jan, 2014. However the transfer deed has not been executed for such asset
til date. Thus the title deed is still not in the name of the company.

Report on other Legal and Regulatory Requirements

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 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 appears from
our examination of those books (and proper returns adequate for the purposes of our audit have been received
from the branches not visited by us)

c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss, and Consolidated Cash Flow
Statement dealt with by this Report are in agreement with the books of accounts.

d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e) On the basis of written representations received from the directors as on 31 March, 2024, taken on record by the
Board of Directors, none of the directors is disqualified as on 31 March, 2024, from being appointed as a director
in terms of Section 164(2) of the Act.

h) With respect to the other matters included in the Auditor''s Report and to our best of our information and according
to the explanations given to us:

i. As Stated by the Company there is no pending litigations.

ii. There is no Long Term Contracts including derivative contracts.

iii. There were no amounts which required to be transferred, to the Investor Education and Protection Fund by
the Company.

iv. The Company has been using Tally (ERP) accounting software. Based on our examination which included
test checks, this software used for books of account does not have a feature of recording trail (edit log) facility
in respect of the application.

For Montek S and Associates
Chartered Accountants
FRN: 020247N

Montek Singh
Membership No 546517
Date: 29-05-2024
UDIN: 24546517BKCZOT4023