We have audited the accompanying standalone Ind-AS financial statements of BDR
BUILDCON LIMITED (“the Company”), which comprise the Balance Sheet as at March
31, 2024, the Statement of Profit and Loss (including other Comprehensive Income), the
Statement of Changes in equity and the Statement of Cash Flow for the year then ended, and
notes to the 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
Companies Act, 2013 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, 2024, and its profit (including other comprehensive income), the
statement of changes in equity and the statement of 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
finnnoinl itnlcmrnM v.-tir.n of out Kp'.-it. W<„ me independent of tliu Cumpuny in uuuurdunuo
with the Cudc uf Lillies 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 on the standalone Ind-AS financial statements.

Key Audit Matters

We have determined that there are no key audit matters to communicate in our report.

Information Other than the standalone Ind-AS financial statements and Auditor’s
Report 1 hereon

The Company’s Board of Directors is responsible for the preparation of the other information.
I he 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 the other information is
materially inconsistent with the standalone 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.

Responsibilities of Management for 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 standalone Ind-
AS Financial Statements that give a true and fair view of the financial position, financial
performance including other comprehensive income, changes in equity and cash flows 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
Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time. 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 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.

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

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 ot 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 Companies Act, 2013, we are also responsible for expressing our opinion on
whether the company has adequate internal financial controls system with reference to
these Standalone Ind-AS Financial Statements in place and the operating effectiveness
of such controls.

• Evaluate the appropriateness of accounting policies used and the i&uMJiidlileneHs 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, it 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.

Wc 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, 2016 (“the Order”), issued by
the Central Government of India in terms of sub-section (11) of section 143 of the
Companies Act, 2013, we give in the “Anncxure 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 further report that-

(a) Wc have sought and obtained all the information and explanations which to the best of
our knowledge and belief were necessary for the purpose 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;

(c) the Balance Sheet, the Statement of Profit and Loss including Other Comprehensive
Income, the Statement of Changes in Equity and the Statement of Cash flow 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
Indian Accounting Standards specified under Section 133 of the Act read with
companies (Indian Accounting Standards) Rules, 2015 as amended from time to time;

(e) On the basis of written representations received from the directors as on March 31,
2024, and taken on record by the Board of Directors, none of the directors is
disqualified as on March 31, 2024. 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 with reference to these Standalone Ind-AS Financial Statements and
the operating effectiveness of such controls, refer to our separate Report in “Annexure
B” ____

3. In our opinion and to the best of our information and according to the explanations
given to us, we report ns under with respect to other matters to be included in the

Auditor s Report in accordance with Rule 11 of the Companies (Audit and Auditors)
Rules, 2014: '

(i) The Company does not have any pending litigations which would impact its financial
position.

(“) ^T!!^e Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses.

(m) I here were no amounts which were required to be transferred to the Investor
education and Protection Fund by the company.

For VISUAL SUBHASH CHANDRA & CO.

CHARTERED ACCOUNTANTS
FIRM-TLEG. NO.: 024543C

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