We have audited the accompanying standalone financial
statements of EURO INDIA FRESH FOODS LIMITED ("the
Company"), which comprise the Balance Sheet as at March
31, 2025, the Statement of Profit and 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 standalone 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
financial statements give the information required by the
Companies Act, 2013 ("Act") in the manner so required and
give a true and fair view in conformity with the accounting
principles generally accepted in India.

(a) In the case of the Balance Sheet, of the state of the
affairs of the Company as at March 31, 2025;

(b) In the case of the Statement of Profit and Loss including
the statement of Other Comprehensive Income, of the
Profit for the year ended on that date.

(c) In the case of the Cash Flow Statement, of the cash
flows of the Company for the year ended on that date.

(d) In the case of the statement of changes in equity, of the
changes in equity of the Company for the year ended on
that date.

BASIS FOR OPINION

We conducted our audit in accordance with the Standards
on Auditing 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 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 financial statements.

INFORMATION OTHER THAN THE
STANDALONE FINANCIAL STATEMENTS
AND AUDITOR'S REPORT THEREON

The Company's Board of Directors are responsible for the
other information. The other information comprises the
information included in the Company's Annual report, but
does not include the standalone 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 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 such 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 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
STANDALONE FINANCIAL STATEMENTS

The Company's Management and Board of Directors
are responsible for the matters stated in section 134(5) of
the Companies Act, 2013 ("the Act") with respect to the
preparation and presentation of these standalone financial
statements that give a true and fair view of the state of affairs
profit/loss 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 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
management and Board of Directors are 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.

The Board of Directors is also responsible for overseeing the
Company's financial reporting process.

AUDITOR'S RESPONSIBILITY

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
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 system 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 management and
Board of Directors .

• Conclude on the appropriateness of the management
and Board of Directors use of the going concern basis
of accounting in preparation of standalone financial
statements 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.

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.

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
(i) in 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.

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" statement on the matters
specified in the paragraph 3 and 4 of the Order, to the
extent applicable.

2. 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;

(c) The standalone Balance sheet, the standalone
Statement of Profit and Loss (including standalone
other comprehensive income), the standalone
statement of changes in equity and the standalone
Cash Flow Statement 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 Accounting Standards
specified under Section 133 of the Act, read with
Companies (Indian Accounting Standards) Rules,
2015, as amended.

(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 therewith
are as stated in paragraph 2(b) above on reporting
under section 143(3)(b) and paragraph 2(h)(vi) below
on reporting under Rule 11(g).

(g) 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 “B".
Our report expresses an unmodified opinion on
the adequacy and operating effectiveness of
the Company's internal financial controls over
financial reporting.

(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 Auditors) 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 as at March 31, 2025 on its
financial position in its 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 were no amounts, which were 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 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.

(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
sub-clause (iv) (a) and (iv) (b) contain any
material misstatement.

v. The Company has neither declared nor paid
any dividend during the year hence this clause
is not applicable.

vi. Based on our examination, which included test
checks, the Company has used accounting
software's for maintaining its books of account
for the financial year ended March 31, 2025
where the feature of recording audit trail (edit
log) facility was not installed and enabled.

3. In our opinion and according to the information and
explanations given to us, the remuneration paid by the
Company to its directors during the current 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.

For R P VIDANI & CO

Chartered Accountants
Firm Registration No. : 137610W

CA Rushi P Vidani

Proprietor

Membership No.: 156047

Place: Surat
Date: May 26, 2025