We have audited the financial statements of Brawn Biotech Limited ("the company"), which comprise the
balance sheet as at 31St March 2025 and the statement of profit and loss including the statement of Other
Comprehensive Income, statement of cash flows and statement of changes in equity for the year ended,
and notes to the financial statement, 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 financial statements given the information required by the Act in the manner so
required and given 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, 2025, and profit &loss, (changes in equity)
and its cash flows for the year ended on that date.
Basic for Opinion
We have conducted our audit in accordance with standards on Auditing (SAS) Specified under section
143(10) of the Companies Act, 20130ur responsibilities under those standards are further described in
the Auditor's Responsibilities for the Audit of the financial statements section of our report. We are
independent of the company in accordance with the code of Ethics issued by the institute of Chartered
Accountants of India together with the ethical requirements that are relevant to our audit of the financial
statement under the provisions of the Companies Act, 2013 and the rules there under, 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 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 financial statements of the current period. These matters were addressed in the context of
our audit of the financial statement 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 communicate in our report.
Management's Responsibility for the standalone financial statements
The company's Board of Directors is responsible for the matter stated in section 134(5) of the companies
Act, 2013 ("the Act") with respect to the preparation of these standalone financial statement that given
a true and fair view of the financial position, financial performance, changes in equity and cash flow 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 records in accordance with provisions of the Act
for safeguarding of the assets of the company and for preventing and detecting frauds and other
irregularities; section 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
financial statement that given a true and fair view and are free from material misstatement whether due to
fraud or error.
In preparing the 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
the going concern basis of accounting unless management either intends to liquidate the company or to
cease operation, of has no realist 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 Financial Statement
Our objectives are to obtain reasonable assurance about whether the financial results 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 results. 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 results, 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 om
misrepresentations, or the override of internal control.
* Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for
expressing our opinion through a separate report on the complete set of financial statements 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 the Board of Directors.
* Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the
related disclosures in the financial results 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 results, including the disclosures,
and whether the financial results represent the underlying transactions and events in a manner that achieves
fair presentation.
Report 'on Other Legal and Regulatory requirements
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 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 it
appears from our examination of those books.
C} The Balance Sheet, the statement of profit and loss, and the cash flow statement dealt with by this report
are in agreement with the book of account.
d) In our opinion, the aforesaid standalone financial statements comply with the Ind AS specified 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% March, 2025 taken on
record by the board of directors, none of the directors is disqualified as on 31°% March,2025 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 2",
g) With respect to the other matter 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 explanation given to us, the remuneration paid by the Company to its directors during
the year is in accordance with the provision 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 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 has disclosed the impact of pending litigations on its financial position in its financial
statements.-Refer Note 1 to the financial statements.
II The company did not have any long —term contracts including derivative contracts for which there
were any material foreseeable losses.
III. There has been no delay in transferring amounts, required to be 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 have
been advanced or loaned or invested (either from borrowed fund or share premium or any
other sources 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
Intermediaries") 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 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 (2) as provided under (a) and (b) above,
contain any material misstatement.
v. The company has not declared or paid any dividend during the year in contravention of the provisions of
section 123 of the Companies Act, 2013
vI. Based on our examination, which included test checks, the Company has used accounting software
systems for maintaining its books of account for the financial year ended March 31, 2025 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 systems. Further, during the course of our audit we did
not come acro 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 Rajiv Udai and Associates
Chartered Accountants
FRN:018764N
Sd/-
Rajeev Jain
Partner
M.No:099767
UDIN:25099767BMIVFZ6120
Place: Delhi
Date: 26-05-2025
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