Yatharth Hospital & Trauma Care Services Ltd.की ऑडीटर रिपोर्ट

Mar 31, 2025

We have audited the accompanying Standalone
Ind AS financial statements of Yatharth Hospital &
Trauma Care Services Limited (“the Company"), which
comprise the Balance Sheet as at 31st March, 2025, the
Statement of Profit and Loss, Statement of changes in
equity and Statement of cash flows for the year ended
31st March 2025, 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 Act in the manner so
required and give a true and fair view in conformity
with the Indian Accounting Standards prescribed
under section 133 of the Act read with the Companies
(Indian Accounting Standards) Rules, 2015, as amended,
(“Ind AS") and other accounting principles generally
accepted in India, of the state of affairs of the Company
as at March 31, 2025 and its Profit, total comprehensive
income, 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 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 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.

Key Audit Matters

Key audit matters are those matters that, in our
professional judgment, were of most significance in our
audit of the standalone financial statements of the current
period. These matters were addressed in the context of
our audit of the standalone financial statements as a
whole, and in forming our opinion thereon, and we do not
provide a separate opinion on these matters.

Key Audit Matter	How our audit addresses the key audit matter
Refer note 1.3. k.c.i and iv and Note No. 9 to the standalone financial statements for material accounting policy and credit risk exposure respectively. As at 31 March 2025, the Company had H1,804.73 Millions as outstanding gross trade receivables and H 97.13 Millions as allowance for expected credit loss. The Company applies simplified approach permitted by Ind AS 109 Financial Instruments, which requires lifetime expected credit losses (‘ECL'') to be recognised from the date of initial recognition of receivables.	Our audit procedures in relation to allowance for expected credit loss on trade receivables, but were not limited to the following: • Obtained an understanding of the process adopted by the Company for calculation, recording and monitoring of the impairment loss; • Understood the appropriateness of Company''s accounting policy for allowance for expected credit loss on trade receivables and assessed its compliance with the Indian Accounting Standards (‘Ind AS'');
Owing to the nature of operations of the Company and related customer profiles, for the purpose of expected credit loss assessment of trade receivables, the Company exercises significant judgement to estimate timing and amount of realization of trade receivables which involves consideration of ageing status, credit information of its customers, historical trends of collection and expected deduction basis past trends.	• Assessed, on a sample basis, that items in the receivables ageing report were classified within the correct ageing bracket by comparing individual items in the report with underlying documentation;

Key Audit Matter	How our audit addresses the key audit matter
Considering the significant judgement involved, high estimation uncertainty and materiality of amounts involved, we have identified allowance for expected credit loss on trade receivables as a key audit matter.	• Analysed the methodology used by the management and considered the payment history of customers to determine the trend used for arriving at the expected credit loss provision by validating collection and deduction trends. Since the assumptions and inputs used for calculating ECL is based on historical data, we assessed whether such historical experience was representative of current circumstances; and • Evaluated the appropriateness and adequacy of the related disclosures in the standalone financial statements to reflect the expected credit loss provision and trade receivables.

Information Other than the 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 Management Discussion
and Analysis, Board''s Report including Annexures
to Board''s Report, Business Responsibility Report,
Corporate Governance and Shareholder''s Information,
but does not include the consolidated financial
statements, 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
the other information is materially inconsistent with
the standalone Ind AS 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.

Responsibility 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 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, changes in
equity, 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 implementation and maintenance
of 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 the accuracy and completeness of the
accounting records, relevant to the preparation
and presentation of the standalone Ind AS financial
statement 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 Responsibility for the Audit of the
Standalone Ind AS 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 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 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 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.

• 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 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 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 standalone Ind AS financial statements that,
individually or in aggregate, makes it probable that the
economic decisions of a reasonably knowledgeable
user of the standalone Ind AS 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 standalone Ind AS 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
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 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. A. 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 except
for the matters stated in the paragraph
2(B) (f) below on reporting under Rule
11(g) of the Companies (Audit and

Auditors) Rules, 2014.

c) The Standalone Balance Sheet, the

Standalone Statement of Profit and Loss
(Including other comprehensive Income),
the standalone Statement of changes in
equity and the statement of Cash Flow
Statement 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 (Ind

AS) prescribed under section 133 of the
Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.

e) On the basis of the written representations
received from the directors as on 31st
March, 2025 taken on record by the Board
of Directors, none of the directors is
disqualified as on 31st March, 2025 from
being appointed as a director in terms of
Section 164 (2) of the Act.

f) the modifications relating to the
maintenance of accounts and other
matters connected therewith are as
stated in the paragraph 2(A)(b) above
on reporting under Section 143(3)(b) and
paragraph 2(B)(f) below on reporting
under Rule 11(g) of the Companies (Audit
and Auditors) Rules, 2014.

g) With respect to the adequacy of the internal
financial controls over financial reporting
of the Company and the operating
effectiveness of such controls, refer to
our separate Report in “Annexure B".
Our report expresses an unmodified
opinion on the adequacy and operating
effectiveness of the Company''s internal
financial controls over financial reporting.

B. 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:

a. The Standalone financial statement
disclose the impact of pending litigations
as at 31st March 2025 on its financial
position of the Company - Refer Note 41
to the standalone financial statements.

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

c. There are no amounts that were due
for being transferred to the Investor
Education and Protection Fund
by the Company.

d. a) The Management has represented

that, to the best of its knowledge
and belief, no funds (which are
material either individually or in the
aggregate) 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 or entity, including foreign
entity (“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 (which are
material either individually or in
the aggregate) have been received
by the Company from any person
or entity, including foreign entity
(“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;

c) Based on the audit procedures 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
(i) and (ii) of Rule 11(e), as provided
under (a) and (b) above, contain any
material misstatement.

e. The company has not declared or paid
any dividend during the year.

f. Proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014 for maintaining
books of account using accounting
software which has a feature of recording
audit trail (edit log) facility is applicable to
the Company with effect from April 1,2023.
Based on our examination the feature of
recording audit trail (edit log) facility was
enabled in Hospital Management System
(HMS) w.e.f 1st April 2024 and Tally ERP
Edit Log was enabled from 02nd July
2024, to log any direct data changes
in the accounting softwares used for
maintaining the books of account for
the financial year ended March 31, 2025.
Further, during the course of our audit
we did not come across any instance of
the audit trail feature being tampered
with from the date of its enabling and

the edit log has been preserved by the
company as per statutory requirement
for record retention.

C. With respect to the other 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 by the Company to
its directors during the year is in accordance
with the provisions of section 197 of the Act.
The remuneration paid to any director by the
Company is not in excess of the limit laid down
under Section 197 of the Act. The Ministry of

Corporate Affairs has not prescribed other
details under Section 197(16) of the Act which
are required to be commented upon by us.

For R. NAGPAL ASSOCIATES

Chartered Accountants
Firm Registration No. 002626N

(CA. ROHIT MEHRA)

Partner

Place: Noida Membership No. 093910

Dated: 26.05.2025 UDIN: 25093910BMIUEO8920

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Mar 31, 2024

We have audited the accompanying Standalone Ind AS financial statements of Yatharth Hospital & Trauma Care Services Limited (“the Company”), which comprise the Balance Sheet as at 31^st March, 2024, the Statement of Profit and Loss, Statement of changes in equity and Statement of cash flows for the year ended 31^st March 2024, 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 Act in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2024 and its Profit, total comprehensive income, 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 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 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.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone financial statements ofthe current period. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

| Key Audit Matter	How our audit addresses the key audit matter
Refer note 1.3. k.c.i and iv and Note No. 7 to the standalone financial statements for material accounting policy and credit risk exposure respectively.	Our audit procedures in relation to allowance for expected credit loss on trade receivables, but were not limited to the following:
As at 31 March 2024, the Company had H1,530.18 Millions as outstanding gross trade receivables and H 95.64 Millions as allowance for expected credit loss.	• Obtained an understanding of the process adopted by the Company for calculation, recording and monitoring of the impairment loss;
The Company applies simplified approach permitted by Ind AS 109 Financial Instruments, which requires lifetime expected credit losses (‘ECL’) to be recognised from the date of initial recognition of receivables.	• Understood the appropriateness of Company’s accounting policy for allowance for expected credit loss on trade receivables and assessed its compliance with the Indian Accounting Standards (‘Ind AS’);

| Key Audit Matter	How our audit addresses the key audit matter
Owing to the nature of operations of the Company and	• Assessed, on a sample basis, that items in the
related customer profiles, for the purpose of expected	receivables ageing report were classified within
credit loss assessment of trade receivables, the Company	the correct ageing bracket by comparing individual
exercises significant judgement to estimate timing and	items in the report with underlying documentation;
amount of realization of trade receivables which involves consideration of ageing status, credit information of its customers, historical trends of collection and expected deduction basis past trends.	• Analysed the methodology used by the management and considered the payment history of customers to determine the trend used for arriving at the expected
	credit loss provision by validating collection and
Considering the significant judgement involved, high	deduction trends. Since the assumptions and inputs
estimation uncertainty and materiality of amounts	used for calculating ECL is based on historical data,
involved, we have identified allowance for expected	we assessed whether such historical experience was
credit loss on trade receivables as a key audit matter.	representative of current circumstances; and
	• Evaluated the appropriateness and adequacy of
	the related disclosures in the standalone financial statements to reflect the expected credit loss provision and trade receivables.

Information Other than the 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 Management Discussion and Analysis, Board’s Report including Annexures to Board’s Report, Business Responsibility Report, Corporate Governance and Shareholder’s Information, but does not include the consolidated financial statements, 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 the other information is materially inconsistent with the standalone Ind AS 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.

Responsibility 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 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, changes in equity, 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 implementation and maintenance of 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 the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial statement 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 Responsibility for the Audit of the Standalone Ind AS 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 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 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 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.

• 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 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 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 standalone Ind AS financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone Ind AS 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 standalone Ind AS 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 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 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. A. 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 except for the matters stated in the paragraph 2(B) (f) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.

c) The Standalone Balance Sheet, the Standalone Statement of Profit and Loss (Including other comprehensive Income), the standalone Statement of changes in equity and the statement of Cash Flow Statement 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 (Ind AS) prescribed under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e) On the basis of the written representations received from the directors as on 31^st March, 2024 taken on record by the Board of Directors, none of the directors

is disqualified as on 31^st March, 2024 from being appointed as a director in terms of Section 164 (2) of the Act.

f) the modifications relating to the maintenance of accounts and other matters connected therewith are as stated in the paragraph 2(A)(b) above on reporting under Section 143(3)(b) and paragraph 2(B)(f) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.

g) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure B”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal financial controls over financial reporting.

B. 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:

a. The Standalone financial statement disclose the impact of pending litigations as at 31^st March 2024 on its financial position of the Company - Refer Note 39 to the standalone financial statements.

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

c. There are no amounts that were due for being transferred to the Investor Education and Protection Fund by the Company.

d. a) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) 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 or entity, including foreign entity (“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 (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity (“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;

c) Based on the audit procedures 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

(i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material misstatement.

e. The company has not declared or paid any dividend during the year.

f. Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of account using accounting software which has a feature of recording audit trail (edit log) facility is applicable to the Company with effect from April 1, 2023. Based on our examination the feature of recording audit trail (edit log) facility was not enabled to log any direct data changes for all the accounting softwares used for maintaining the books of account.

C. With respect to the other 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 by the Company to its directors during the year is in accordance with the provisions of section 197 of the Act. The remuneration paid to any director by the Company is not in excess of the limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the Act which are required to be commented upon by us.

For R. NAGPAL ASSOCIATES

Chartered Accountants Firm Registration No. 002626N

(CA ROHIT MEHRA)

Partner

Place: Noida Membership No. 093910

Dated: 23.05.2024 UDIN:24093910BKAKJA4755

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Mar 31, 2023

Independent Auditor''s Report

Standalone

To the Members of

Yatharth Hospital & Trauma Care Services Limited
(Formerly Known as Yatharth Hospital & Trauma Care
Services Pvt. Ltd.)

Report on the Audit of the Standalone Indian Accounting
Standards (Ind AS) Financial Statements

Opinion

We have audited the accompanying Standalone Ind AS
financial statements of Yatharth Hospital & Trauma Care
Services Limited (Formerly Known as Yatharth Hospital &
Trauma Care Services Pvt. Ltd.) (“the Company”), which
comprise the Balance Sheet as at 31st March, 2023, the
Statement of Profit and Loss, Statement of changes in
equity and Statement of cash flows for the year ended 31st
March 2023, and notes to the standalone Ind AS financial
statements, including a summary of 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
standalone Ind AS 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 Indian
Accounting Standards prescribed under section 133 of the
Act read with the Companies (Indian Accounting
Standards) Rules, 2015, as amended, (“Ind AS”) and other
accounting principles generally accepted in India, of the
state of affairs of the Company as at March 31, 2023 and its
Profit, total comprehensive income, 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 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 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
other information. The other information comprises the

information included in the Management Discussion and
Analysis, Board’s Report including Annexures to Board’s
Report, Business Responsibility Report, Corporate
Governance and Shareholder’s Information, but does not
include the consolidated financial statements, 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 the other
information is materially inconsistent with the standalone
Ind AS 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.

Responsibility 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 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, changes in equity, 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
implementation and maintenance of 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 the accuracy and completeness of
the accounting records, relevant to the preparation and
presentation of the standalone Ind AS financial statement
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 Responsibility for the Audit of the Standalone Ind
AS 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 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 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 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.

• 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 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 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
standalone Ind AS financial statements that, individually or
in aggregate, makes it probable that the economic

decisions of a reasonably knowledgeable user of the
standalone Ind AS 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 standalone
Ind AS 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 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 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, Statement of changes in equity and the
Cash Flow Statement 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 (Ind AS) prescribed under section 133 of
the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.

e) On the basis of the written representations
received from the directors as on 31^st March,
2023 taken on record by the Board of
Directors, none of the directors is
disqualified as on 31^st March, 2023 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 to our separate Report in
“Annexure A”. Our report expresses an
unmodified opinion on the adequacy and
operating effectiveness of the Company''s
internal financial controls over financial

reporting.

g) With respect to the other 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 by the Company to its
directors during the year is in accordance with the
provisions of section 197 of 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 pending litigations on its financial
position in its standalone Ind AS
financial statements - Refer Note 39 to
the standalone 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 are no amounts that were due for
being 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, no funds (which
are material either individually or in the
aggregate) 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 or entity,
including foreign entity

(“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 (which
are material either individually or in the
aggregate) have been received by the
Company from any person or entity,
including foreign entity (“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;

(c) Based on the audit procedures

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 (i) and
(ii) of Rule 11(e), as provided under (a) and
(b) above, contain any material
misstatement.

v. The company has not declared or paid
any dividend during the year.

vi. Proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014 for maintaining
books of account using accounting
software which has a feature of recording
audit trail (edit log) facility is applicable to
the Company with effect from April 1,
2023, and accordingly, reporting under
Rule 11(g) of Companies (Audit and
Auditors) Rules, 2014 is not applicable for
the financial year ended March 31, 2023.

2. As required by the Companies (Auditor’s Report) Order,
2020 (“the Order”) issued by the Central Government
in terms of Section 143(11) of the Act, and on the basis
of such checks of the books and records of the
Company as we considered appropriate and according
to the information and explanations given to us, we
give in “Annexure B” a statement on the matters
specified in paragraphs 3 and 4 of the Order.

For R. NAG PAL ASSOCIATES
Chartered Accountants
Firm Registration No. 002626N

(CA ROHIT MEHRA)
Partner

Membership No. 093910
UDIN :23093910BGUFVT2991

Place: Noida

Dated: 17.06.2023