We have audited the accompanying Standalone Financial Statements
of BEEZAASAN EXPLOTECH LIMITED (Formerly known as Beezaasan
Explotech Private Limited) (CIN: L24111GJ2013PLC076499), (the
"Company") which comprise the Balance Sheet as at 31st March,
2026, the Statement of Profit and Loss and the Statement of Cash
Flows for the year ended on that date, and notes to the Standalone
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 Standalone Financial
Statements give the information required by the Companies Act,
2013, as amended ("the 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 31st March, 2026, and its profit, and its cash flows for the year
ended on that date.
Basis for Opinion
We conducted our audit of the Standalone Financial Statements 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 ("ICAI")
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.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion on the Standalone
Financial Statements.
Key Audit Matter
Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the Standalone
Financial Statements for the financial year ended March 31, 2026.
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 that there are no key audit matters to be
communicated in our report.
Information Other than the Standalone Financial Statements and
Auditor's Report Thereon
The Company's Board of Directors is responsible for the preparation
of the other information. The other information comprises the
information included in the Management Discussion and Analysis
and Directors Report (the "Reports") including Annexures but does
not include the Standalone Financial Statements and our auditor's
report thereon.
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 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.
Management's Responsibility for the Standalone
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 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
Accounting Standards specified under Section 133 of the Act and
relevant rules there under.
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 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, 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.
The Board of Directors are 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
judgment 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 controls.
• 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 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 the Companies (Auditor's Report) Order, 2020 ("the
Order"), as amended, issued by the Central Government of India in
terms of sub-section (11) of section 143 of the Act, we give in the
Annexure "A" a statement on the matters specified in paragraphs
3 and 4 of the Order.
2. As required by Section 143 (3) of the Act, based on our audit 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
statement of Cash Flow Statement dealt with by this Report
are in agreement with the relevant books of account.
d. In our opinion, the aforesaid Standalone Financial Statements
comply with 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 directors as on 31st March, 2026 taken on record by the
Board of Directors, none of the directors is disqualified as on
31st 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
with reference to Standalone Financial Statements 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 with reference to Standalone Financial Statements.
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 other matter to be included in the Auditor's
Report in accordance with the Rule 11 of the Companies (Audit
and Auditor's) Rules, 2014, in our opinion and to the best of
our information and according to the explanations given to us.
(i) The company did not have any long-term contracts
including derivative contracts for which there were any
material foreseeable losses.
(ii) There were no amounts which were required to be
transferred to the Investors Education and Protection Fund
by the Company.
(iii)
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 (a)
and (b) above, contain any material misstatement.
(iv)Based on our examination, which included test checks, the
Company has used accounting software for maintaining
its books of account for the financial year ended March
31, 2026 which have 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 the audit trail feature being
tampered with and the audit trail has been preserved by
the Company as per the statutory requirements for record
retention.
For, PSV JAIN & ASSOCIATES
CHARTERED ACCOUNTANTS
FRN: 131505W
CA Dularesh Kumar Jain
Partner
M. No.0137264
UDIN- 26137264QHHKAK5714
Date: 29.05.2026
Place: Mumbai
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