We have audited the accompanying financial statements
of Ddev Plastiks Industries Limited ("the Company"), which
comprise the Balance Sheet as at March 31 2026, the
Statement of Profit & Loss (including the Statement of Other
Comprehensive Income), the Statement of Cash Flow and
the Statement of Changes in Equity for the year then ended,
and notes to the financial statements, including a summary
of material accounting policies and other explanatory
information (hereinafter referred to as "the financial
statements")

In our opinion and to the best of our information and according
to the explanations given to us, the aforesaid 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 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, 2026, its profits (including other comprehensive
income), its cash flows and changes in equity 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 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 financial statements under the provisions of the Act and
the Rules there under, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and
the ICAI's 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 financial statements.

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 for the financial year ended March 31,
2026. These matters were addressed in the context of our
audit of the financial statements as a whole, and in forming
our opinion thereon, and we do not provide a separate opinion
on these matters.

Information other than the Financial Statements and
Auditor's Report thereon

The Company's Management and Board of Directors are
responsible for the other information. The other information
comprises the information included in the Company's Annual
Report including Management Discussion and Analysis,
Board's Report including Annexures to Board's Report,
Business Responsibility and Sustainability Report, Corporate
Governance and Shareholder's Information but does not
include the financial statements and our auditor's report
thereon. The Company's annual report is expected to be made
available to us after the date of this auditor's report.

Our opinion on the financial statements does not cover
the other information and we will not express any form of
assurance conclusion thereon.

In connection with our audit of the 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
financial statements or our knowledge obtained in the audit,
or otherwise appears to be materially misstated.

When we read the Company's annual report, if we conclude
that there is a material misstatement therein, we are required
to communicate the matter to those charged with governance
and take necessary actions, as applicable under the relevant
laws and regulations.

Management's Responsibility for the 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 financial statements that give a true
and fair view of the financial position, financial performance

including other comprehensive income, cash flows and
changes in equity 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 the Companies (Indian Accounting
Standards) Rules, 2015, as amended. 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 the 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
statements that give 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 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 charged with governance are also responsible for
overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the 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
based on 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:

a. 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.

b. 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 on whether the company has adequate internal
financial controls with reference to Financial Statements
in place and the operating effectiveness of such controls.

c. Evaluate the appropriateness of accounting policies used
and the reasonableness of accounting estimates and
related disclosures made by management.

d. 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.

e. 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 financial
statements that, individually or in aggregate, makes it probable
that the economic decisions of a reasonably knowledgeable
user of the 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 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 financial statements for the
financial year ended March 31, 2026 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") 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, we report that:

i. We have sought and obtained all the information and
explanations which to the best of our knowledge and
belief are necessary for the purpose of our audit.

ii. 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.

iii. The Balance Sheet, Statement of Profit & Loss
(including other comprehensive income), Statement
of Cash Flows and Statement of Changes in Equity
dealt with by this Report are in agreement with the
books of account.

iv. In our opinion, the aforesaid financial statements
comply with the accounting standards specified
under section 133 of the Act read with Companies
(Indian Accounting Standards) Rules, 2015, as
amended from time to time.

v. On the basis of written representations received
from the Directors as on March 31, 2026 taken
on record by the Board of Directors, none of the
directors is disqualified as on March 31, 2026 from
being appointed as a director in terms of section
164(2) of the Act.

vi. With respect to the adequacy of the internal financial
controls with reference to the financial statement of
the Company and the operating effectiveness of such
controls, refer to our separate report in "Annexure B".

vii. 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, during
the year 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 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.

viii. 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 has disclosed the impact of
pending litigation of its financial position in its
financial statements. Refer Note No. 36.

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

iii. There were no amounts which were required
to be transferred to the Investor Education and
Protection Fund by the Company during the
year.

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 funds
or share premium or any other sources
or kind of funds) by the Company to or in
any other persons or entities, including
foreign entities ("Intermediaries") with
the understanding, whether recorded in
writing or otherwise, that the Intermediary
shall:

• directly or indirectly lend or invest in other
persons or entities identified in any manner
whatsoever ("Ultimate Beneficiaries") by or
on behalf of the Company or

• provide any guarantee, security or
the like to or 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
persons or entities, including foreign entities
("Funding Parties"), with the understanding,
whether recorded in writing or otherwise, that
the Company shall:

• directly or indirectly, lend or invest in other
persons or entities identified in any manner
whatsoever ("Ultimate Beneficiaries") by or
on behalf of the Funding Party or

• provide any guarantee, security or the
like from or on behalf of the ultimate
Beneficiaries; and

c) Based on such audit procedures as
considered reasonable and appropriate in
the circumstances, nothing has come to our
notice that has caused us to believe that the
representations under subclause (iv) (a) and (iv)
(b) contain any material misstatement.

(ix) The final dividend proposed in the previous year,
declared and paid by the Company during the year
is in accordance with section 123 of the Act, as
applicable.

As stated in Note no. 54 of the financial statements,
the Board of Directors of the Company have proposed
final dividend for the year which is subject to the
approval of the members of the Company at the
ensuing respective Annual General Meetings. Such
dividend proposed is in accordance with section 123
of the Act as applicable

(x) Based on our examination which included test

checks, the Company has used the SAP S4 Hana
accounting software for maintaining its books of
account which has a feature of recording audit trail
(edit log) facility in respect of the application and
the same has operated throughout the year for all
relevant transactions. We did not come across any

instance of the audit trail feature being tampered
with in respect of accounting software. Normal/
Regular users are not granted direct database
or super user level access.The audit trail has
been preserved by the Company as per statutory
requirements for record retention.

For B.Mukherjee & Co.,

Chartered Accountants
Firm Registration No : 302096E

S.K.Mukherjee

(Partner)

Membership No : 006601
UDIN: 26006601VHZMRT4151

Place :- Kolkata

Date:- 25^th Day of May, 2026