We have audited the standalone financial statements of M/s. lykot Hitech Toolroom Limited ("the
Company"), which comprises the Balance Sheet as at March 31,2024, the Statement of Profit and Loss
(Including other comprehensive income), the Statement of Changes in Equity and the Statement of
Cash Fiows for the year ended on that date, including a summary of the significant accounting poiicles
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 in conformity with Indian
Accounting Standards prescribed under Section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended find AS") and other accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2024 and its Loss and Other
total Comprehensive Income, Changes in Equity and Cash Flows for the year ended on that date.

Basis of 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 Financiai 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 ethicai requirements that are reievant to our audit of the financiai
statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have
fulfilled our other ethical responsibilities in accordance with the 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 audit opinion on the financial statements.

Information Other than the Financiai Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the other information. The other Information
comprises the Board's report, including Annexure to Board Report, and Shareholders Information but
does not inciude the financial statements and our auditor's report thereon.

Our opinion on the 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 financiai statements, our responsibility is to read the other
information and, In doing so, consider whether the other information is materially inconsistent with
the financiai statements or our knowiedge obtained during the course of our audit or otherwise
appears to be materially misstated.

If, based on the work we have performed, on the other information obtained prior to the date of this
auditor's report, we conclude that there is a materiai misstatement of this other information, we are
required to report that fact. We have nothing to report in this regard.

Responsibility of Management for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the
Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give
a true and fair view of the financial position, financial performance, total comprehensive income,
changes in equity and cash fiows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards (Ind AS) specified under Section 133 of
the Act, read with relevant ruies made thereunder.

This responsibility aiso includes maintenance of 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 of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controis, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, reievant 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, the 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 the management either intends to iiquidate 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 Responsibilities for the Audit of the Financiai Statements

Our objectives are to obtain reasonable assurance about whether the financiai 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 materiai if, individually or in
the aggregate, they couid 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:

• 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 internol controls relevant to the audit 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 an 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 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 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 them all
relationships and other matters that may reasonably be thought to bear on our independence and
where applicable, related safeguards.

Report on Otber 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:

(a) We have sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for 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),
the Standalone Statement of Changes in Equity, and the Cash Flow Statement dealt with by this
Report agree with the books of account.

(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014.

(e) Based on the written representations received from the directors as on 31st March 2024, taken
on record by the Board of Directors, none of the directors is disqualified as on 31st March 2024
from being appointed as a director in terms of Section 164 (2) of the Act.

(f) For the adequacy of the internal financial controls over financial reporting of the company and
other operating effectiveness of such controls, refer to our separate report in "Annexure B".

For 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:

(g) In our opinion and to the best of our information and according to the explanations given to us,
the remuneration paid by the Company to its directors during the year Is in accordance with the
provisions of section 197 of the Act.

(h) 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 litigations 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 Protection Fund by the Company.

iv. 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 from borrowed funds or any other sources or kind of funds) by the
company to or in any other person(s) or entity(is), 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.

v. 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, that the Company shall,
whether, directly or indirectly, lend or Invest in other persons or entities identified irr 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
Based on the audit procedures adopted by us, nothing has come to our notice that has
caused us to believe that the representations made by the management under sub
clause (i) and (ii) above, contain any material Misstatement.

vi. 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 more than the limit laid down under Section 197 of the Act. The Ministry
of Corporate Affairs has not prescribed other details under Section 197(16) which are
required to be commented upon by us.

For VIVEKANANDAN ASSOCIATES

Chartered Accountants

(ICAI Regn. No.: 05268 S)

f

®R. LAKSHMINARAYANAN

Partner

Membership No. 204045
UDIN: 24204045BKBFFIK6420