We have audited the Standalone Financial
Statements of Anjani Foods Limited, which
comprise the Balance Sheet as at March 31, 2025,
and the Statement of Profit and Loss (including
Other Comprehensive Income), the Statement
of Changes in Equity and the Statement of Cash
Flows for the year then ended, and notes to the
Standalone Financial Statements, including a
summary of significant accounting policies and
other explanatory information (hereinafter referred
to as "the Standalone Financial Statements”).

In our opinion and to the best of our information
and according to the explanations given to us, the
aforesaid standalone financial statements give the
information required by the Companies Act, 2013
("the Act”) in the manner so required and give a true
and fair view in conformity with 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 (including other
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 Act. Our responsibilities under those
Standards are further described in the Auditor’s
Responsibilities for the Audit of the Standalone
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 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 issued by the Institute of Chartered
Accountants of India. 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 judgement, 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. We have determined the
matters described below to be the key audit matters
to be communicated in our report.

Other information

The Company’s Board of Directors is responsible
for the other information. The other information
comprises the information included in Directors’
Report but does not include the standalone and
consolidated financial statements and our auditor’s
report thereon. The Director’s report is expected
to be made available to us after the date of this
auditor’s report.

Our opinion on the Standalone 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
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
Standalone Financial Statements or our knowledge
obtained in the audit, or otherwise appears to be
materially misstated.

When we read the Directors report, if we conclude
that there is a material misstatement therein, we
are required to communicate the matter to the
Board of Directors.

Responsibilities of Management and
Those Charged with Governance for the
Standalone 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 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 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
Financial Statements that give a true and fair view
and are free from material misstatement, whether
due to fraud or error.

In preparing the Standalone Financial Statements,
the Board of Directors of the company 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 the
Board of Directors 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 Financial Statements

Our objectives are to obtain reasonable assurance
about whether the Standalone Financial
Statements as a whole are free from material
misstatement, whether due to fraud or error, and to
issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material
misstatement when it exists. Misstatements
can arise from fraud or error and are considered
material if, individually or in the aggregate, they
could reasonably be expected to influence the
economic decisions of users taken on the basis of
these Standalone Financial Statements.

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

• Identify and assess the risks of material
misstatement of the Standalone 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 financial
controls relevant to the audit in order to design
audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the
Act, we are also responsible for expressing our
opinion on whether the company has adequate
internal financial controls with reference to
standalone 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 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 Financial Statements,
including the disclosures, and whether the
Standalone Financial Statements represent the
underlying transactions and events in a manner
that achieves fair presentation.

Materiality is the magnitude of misstatements in the
Standalone Financial Statements that, individually
or in aggregate, makes it probable that the economic
decisions of a reasonably knowledgeable user of the
Standalone 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 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.

From the matters communicated with those
charged with governance, we determine those
matters that were of most significance in the
audit of the Standalone Financial Statements of
the current period 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 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 matter stated in paragraph 1(i)
(vi) below on reporting under Rule
11(g) of the Companies (Audit and
Auditors) Rules, 2014.

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

(d) In our opinion, the aforesaid Standalone
Financial Statements comply with the
Indian Accounting Standards specified
under Section 133 of the Act.

(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.

(f) The modification relating to the
maintenance of accounts and other
matters connected there with are as stated
in paragraph 1(b) above and paragraph
1(i)(vi) 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 with reference to
the standalone financial statements of the
Company and the operating effectiveness
of such controls, refer to our separate
Report in "Annexure A”.

(h) 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.

(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 does not have any
pending litigations which would
impact its financial position in its
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. The Company has not transferred
' 0.67 Lakh, which was required to be
transferred to the Investor Education
and Protection Fund by the Company;

iv. (a) The Management has represented

that (Refer Note No.41 of the
Financial Statements), 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 (Refer Note No.41 of the
Financial Statements), 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. Based on our examination which
included test checks, the company has
enabled the feature of recording audit
trail (edit log) facility and the same
has operated throughout the year
for all relevant transactions recorded
in the software. Further, during

the course of our audit we did not
come across any instance of audit
trail feature being tampered with.
However, the accounting software
used by the Company has not been
enabled with the feature of audit
trail log at the server or database to
log direct file level changes (Refer
Note No 39 of financial statements).
Further, the audit trail in respect of
previous year has been preserved
by the Company as per Statutory
requirements for record retention.

.2. 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 "Annexure
B” a statement on the matters specified in
paragraphs 3 and 4 of the Order.

For M. Anandam & Co.,

Chartered Accountants

(Firm’s Registration No. 000125S)

Y. Lakshmi Nagaratnam

Partner

Membership No. 212926

UDIN: 25212926BMKYNT9215

Place: Hyderabad

Date: 30.05.2025