Vegorama Punjabi Angithi Ltd.की ऑडीटर रिपोर्ट

We have audited the financial statements of Vegorama Punjabi Angithi Limited (“the Company”),
which comprise the Balance Sheet as at 31 March, 2026, the Statement of Profit and Loss, and
Statement of Cash Flows for the year then ended, and notes to the financial statements, including a
summary of the significant 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 financial statements give the information required by the Companies Act 2013 ("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 31 March, 2026, and profit 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 Act Our responsibilities under those SAs are further described in the Auditor’s
Responsibilities for the Audit of the 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 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 opinion on the
financial statements.

Other than the financial statements and Auditor''s report thereon

The Company’s management and Board of Directors are responsible for the other information. The
other information comprises the information included in the Company''s Annual Report but does not
include the financial statements and our auditors'' 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 identified above when it becomes available and, in doing so, consider whether the other
information is materially inconsistent with the 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. ______

Management''s and Board of Directors’ Responsibility for the Financial Statements

The Company’s Board of Directors are responsible for the matters stated in Section 134(5) of the Act
with respect to the preparation of these financial statements that give a tme and fair view of the state
of affairs, profit/loss 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.
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 design, implementation and
maintenance of adequate internal financial controls that were operating effectively for ensuring
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.

In preparing the financial statements, Board of Directors are 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 the Board of Directors either intends to liquidate
the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors'' 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 financial statements.

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

• 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.

• 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
financial controls with reference to 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 in the financial statements made by the Management and
Board of Directors.

• Conclude on the appropriateness of the Management and Board of Directors 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 the date of our auditors’ 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 financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statements that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the
financial statements may be influenced. We consider quantitative materiality and qualitative factors in
(i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate
the effect of any identified misstatements in the financial statements.

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 (Auditors’ Report) Order, 2020 ("the Order") issued by the
Central Government in terms of Section 143 (11) of the Act, we give in the "Annexure A” a
statement on the matters specified in paragraphs 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 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;

(c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by
this report are in agreement with the books of account;

(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 as amended;

(e) On the basis of the written representations received from the and taken on record by the
Board of Directors, none of the 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 the operating effectiveness of such controls, refer ''Annexure B'' of our report. Our
report expresses unmodified opinion on the adequacy and effectiveness of the company
internal financial controls:

(g) With respect to the matters to be included in the Auditor’s report in accordance with the
requirements of Section 197(16) of the Act as amended: in our opinion and to the best of our
information and according to the explanations given to us, the remuneration paid/provided by
the Company to its directors during the period is in accordance with the provisions of section
197 read with Schedule V to the Act:

(h) 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, 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 does not have any pending litigations on its
financial position in its financial statements. Refer Note no 28 to the 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 of the Company has represented that, to the best of its knowledge
and belief, other than as disclosed in the financial statements, no funds have been
advances or loaned or invested (either from the borrowed funds or share premium or
any other sources or any kinds of funds) by the Company to or in any other person or
entity, 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 of the Company has represented that, to the best of its
knowledge and belief, other than as disclosed in the financial statements, no funds
have been received by the Company in any other person or entity, including foreign
entities ("Funding Parties"), with the understanding, that Company had recorded in
writing or otherwise, 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
'' ^\C\ Funding Parties ("Ultimate Beneficiaries") or provide any guarantee, security or the

OjTl >P\ like on behalf of the Ultimate Beneficiaries: and

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Based on such audit procedures that we have considered reasonable and
appropriate in the circumstances nothing has come to the notice that has occurred

them to believe that the representations under sub-clause (a) and (b) contain any
material misstatement

v. The Company has not declared and paid any dividend during the year.

vi. In respect of financial year beginning from 1 April 2025, the Company has used
accounting software 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 transactions recorded in the software and the audit trail has not been
tempered with and audit trail has been preserved by the Company.

vii. Further for the periods where audit trail (edit log) facility was enabled and operated
throughout the year for the respective accounting software, we did not come across
any instance of the audit trail feature being tampered with.