We have audited the accompanying financial
statements of Fischer Medical Ventures Limited
(Formerly known as Fischer Chemic Limited)(“the
Company”) which comprise the Balance Sheet as
at March 31, 2025, the Statement of Profit and Loss,
the statement of Cash Flows 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 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
March 31, 2025, and its Profit and 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 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 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.

Information Other than the Financial Statements
and Auditor’s Report Thereon

The Company's Board of Directors is responsible
for the other information. The other information
comprises the information included in the Annual
report but does not include theStandalone Financial
Statements and our auditor's report thereon.

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

In connection with our audit of the 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 in the audil
or otherwise appears to be materially misstated.If
based on the work we have performed, we conclude
that there is no material misstatement of this other
information, we are required to report that fact. We
have nothing to report in this regard.

Responsibilities of Management and Those Charged
with Governance for the Standalone Financial
Statements

These financial statements are the responsibility of the
Company's management. The Firm's Board of Directors
is responsible for the matters stated in Section 134(5]
of the Companies Act, 2013 (“the Act”) with respect tc
the preparation of the standalone financial statements
that give a true and fair view of the financial position &
financial performance of the Company in accordance
with the accounting principles generally accepted
in India, including Indian Accounting Standards (Ind
AS) prescribed under section 133 of the Act read with
the Companies (Indian Accounting Standards) Rules
2015, as amended.

This responsibility also includes maintenance ol
adequate accounting records in accordance with the
provisions of the Act for safeguarding the assets of
the Company and for preventing and detecting frauds
and other irregularities; selection and application ol
appropriate accounting policies; making judgments
andestimates 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 thestandalone 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 also responsible for
overseeing the Company's financial reporting process.

Auditor’s Responsibility for the audit of the
StandaloneFinancial 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.

Responsibilities for Audit of 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
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 referenceto
Standalone 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 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 standalonefinancial 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 standalonefinancial statements that,
individually or in the 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 in evaluating the results of our work,
and (ii) evaluating 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 financial
controls 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 standalonefinancial 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”) issued by the Central
Government of India in terms of Section 143 (11)
of the Act, we give in “Annexure A” a statement
on the matters specified in paragraphs 3 and 4
of the Order, to the extent applicable.

2. Further to our comments in Annexure A, as
required by section 143(3) of the Act, based on
our audit, we report, to the extent applicable,
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
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,the Statement, of
changes in equity, and the statement
of cash flows dealt with by this Report

j. There were no amounts that were
required to be transferred to the
Investor Education and Protection
Fund by the Company.

k. The Company does not have any
pending litigations which would
impact its financial position.

a. The management has represented that, to
the best of its knowledge and belief, other
than as disclosed in the notes to the accounts,
no funds have been advanced or loaned
or invested (either fromborrowed funds or
share premium or any other sources or kind
of funds) by the company to or in any other
person(s) or entity(ies), including foreign entities
(“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, other than as
disclosed in the notes to the accounts, no funds
have been received by the company from any
person(s) or entity(ies), including foreign entities
(“Funding Parties”), with the understanding,
whether recorded in writing or otherwise,

For M/s Bilimoria Mehta & Co.

Chartered Accountants

FRN: 101490W

CA Prakash Mehta

Partner

M.No: 030382

UDIN: 25030382BMMIY7523

Date: 28th May 2025

Place of Signature: Mumbai

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; and

c. Based on audit procedures that we
considered reasonable and appropriate in
the circumstances, nothing has come to the
notice that has caused them to believe that
the representations under sub-clause (i) and
(ii) contain any material misstatement.

d. The company hasnotdeclared and paid
any dividends during the year which are in
contravention of the provisions of section 123
of the Companies Act, 2013.

As per the Proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014 for maintaining books of
account using accounting software which has a feature
of recording audit trail (edit log) facility is applicable
to the Company with effect from April 1, 2023, but the
audit trail has not been preserved by the company
as per the statutory requirements for record retention.