We have audited the accompanying Ind AS financial statements of HELPAGE FINLEASE LIMITED ,
which comprise the Balance Sheet as at March 31, 2026, and the Statement of Profit and Loss, including the
statement of Other Comprehensive Income, the Cash Flow Statement and the Statement of Changes in Equity
for the year then ended, and notes to the 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
Ind AS financial statements give the information required by the Companies Act, 2013 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, 2026, its loss including other comprehensive income,
its cash flows and the changes in equity for the year ended on that date.
Basis for Opinion
We conducted our audit of the Ind AS financial statements in accordance with the Standards on Auditing
(SAs) specified under section 43 of the Companies Act, 2013. Our responsibilities or der those Standards are
further described in the Auditor’s Responsibilities for the Audit of the Ind AS 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 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 to 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 standalone financial statements of the current period. These matters were addressed in the context of
our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not
provide a separate opinion on these matters. Based on our checks and on the basis of information and
explanation from the management we have determined that there are no key audit matters to be communicated
in our report.
Information Other than the Ind AS Financial Statements and Auditor’s Report Thereon
The Company’s Board of Directors is responsible for the preparation of the other information. The other
information comprises the information included in the Annual Report does not include the Ind AS financial
statements and our auditor’s report thereon.
Our opinion on the Ind AS 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 Ind AS 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 Ind AS financial statements or our knowledge obtained in the
audit, or otherwise appears to be materially misstated.
When we read the Annual Report, if we conclude that there is a material misstatement therein, we are required
to communicate the matter to those charged with governance.
Responsibilities of Management for the Ind AS Financial Statements
The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Companies
Act,2013 with respect to the preparation of these Ind AS financial statements that give a true and fair view of
the financial position, financial performance including comprehensive income, and 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 INDAS 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.
That Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Ind AS 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 mis-statement when it exists. Mis statements 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 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 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 control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Under section143(3)(i) of the Companies Act,2013, we are also responsible
for expressing our opinion on whether the company has adequate internal financial controls system 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 disclose 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 financial statements, including the disclosures,
and whether the 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 the mall relationships and other matters that
may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2020, issued by the Cenlral Government of India in
terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the Annexurel a statement
on the matters specified in paragraphs 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 Balance Sheet, the Statement of Profit and Loss including other Comprehensive income, Statement of
Changes in equity and the Cash Flow Statement dealt with by this report are in agreement with the books of
account.
(d) In our opinion. The aforesaid Ind AS financial statements comply with the Indian Accounting Standards
specified under Section 133 of the Act.
(e) On the basis of the written representations received from the directors as on 31st March, 2026 taken on record
by the Board of Directors, none of the directors is disqualified as on 31st March, 2026 from being appointed
as a director in terms of Section 164 (2) of the Act.
(f) With respect to the adequacy of internal financial controls over financial reporting of the company and the
operating effectiveness of such controls, refer to our separate Reporting Annexure2. Our report expresses an
unmodified opinion on the adequacy and effectiveness of the Company’s internal financial controls over
financial) reporting.
(g) 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 does not have any pending litigation which would impact its financial position.
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 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 any persons or entities, 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 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 persons or entities, including foreign entities ^intermediaries"), 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 Beneficiary.
(c’) Based on such audit procedures that we have considered appropriate in the circumstances nothing has
come to our notice that has caused us to believe that the representations under paragraphs (iv) (a) and (b)
above contain any material miss-statement
The Company has not declared or paid dividend during the year.
v. Based on our examination which included test check , the company has used an accounting software for
maintain books of account which has a feature of recording audit trail facility and the same has been
operated throughout the year for all relevant transaction recorded in the software .Further during the course
of audit we did not come across any instances of audit trail features being tempered and did the audit trail
has been preserved by the company as per the statutory requirement for record retention.
For R C Agarwal & Co.
Chartered Accountants
Firm Reg. No.: 003175N
Sd/-
CA Pravin Kumar Jha
Partner
Membership No.: 506375
Date: May 27, 2026
Place: New Delhi
UDIN: 26506375GZKQQM8672
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