1. We have audited the accompanying Statement of Standalone Financial Results of Gennex Laboratories Limited
("the company”) for the Quarter & Year ended March 31, 2025 ("the Statement"), attached hereto being submitted
by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, ('Listing Regulations).
2. In our opinion and to the best of our information and according to the explanations given to us these Standalone
Financial Results:
(i) are presented in the accordance with the requirement of Regulation 33 of the Listing Regulation in this regard;
and
(ii) Subject to:
(a) Confirmations / reconciliations of, The Balances of Current Assets, Other Non-Current Assets,
Non-Current Liabilities, Current Liabilities & other Current Liabilities, The Impact of the same is
unascertained;
(b) Gives true and fair view in conformity with the recognition and measurement principles laid down in the
applicable Indian accounting standards (IND-AS) and other accounting principles generally accepted in
India, of the net profit and other comprehensive income and other financial information for the year
ended 31 March, 2025.
3. 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 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's
Responsibilities for the Audit of the Standalone Financial Results 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 results 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 opinion on the standalone annual financial results.
4. Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results
These standalone annual financial results have been prepared on the basis of the standalone annual financial
statements.
The Company's Management and Board of Directors are responsible for the preparation of these Standalone
Annual Financial Results that give a true and fair view of the net profit and other comprehensive income and
other financial information in accordance with the recognition and measurement principles laid down in Indian
Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other accounting principles
generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.
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 annual financial results that give a true and fair view and are
free from material misstatement, whether due to fraud or error.
In preparing the standalone annual financial results, the Management and the 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.
5. Auditors Responsibilities for the Audit of the Standalone Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone annual 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 standalone annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the standalone annual 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
omissions, 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 in the standalone financial results made by the Board of Directors.
Conclude on the appropriateness of the Management's and 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 appropriateness of this assumption. 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 annual 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 standalone annual financial results, including the
disclosures, and whether the standalone annual financial results 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.
6. Other Matters
The standalone annual financial results include the results for quarter ended March 31, 2025 being the balancing
figure between the audited figures in respect of the full financial year and the published unaudited year to date
figures up to the third quarter of the current financial year which were subject to limited review by us.
For R Pugalia & Company
Chartered Accountants
Firm's Registration No.053972
Rajeev Kumar Pugalia
Proprietor
Membership No. 053972
Place of Signature: Hyderabad
Date: 30th May 2025
UDIN: 25053972BMMKFU7692
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