1. We have audited the accompanying Standalone
Financial Statements of KRITI NUTRIENTS LIMITED
("The Company"), which comprise the Balance Sheet
as at 31 March 2025, the Statement of Profit and
Loss (including other comprehensive income), the
Statement of Changes in Equity and the Statement
of Cash Flow on that date, a summary of the
material accounting policies and other explanatory
information (herein after referred to as "the financial
statements").

2. 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 (the 'Act') in the manner so required and give a
true and fair view in conformity with the accounting
standards prescribed under section 133 of the Act
read with the Companies (Accounting Standards)
Rules, 2015, as amended and the other accounting
principles generally accepted in India, of the state
of affairs of the Company as at 31 March 2025, the
Profit including other comprehensive income, its
cash flows and the changes in equity for the year
ended on that date.

Basis for Opinion

3. 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 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 ('ICAI')
together with the independence requirements that
are relevant to our audit of the Standalone Financial
Statements 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 audit opinion
on the Standalone Financial Statements.

Key Audit Matters

4. Key audit matters are those matters that, in our
professional judgment, were of most significance in
our audit of the Standalone Financial Statements
for the financial year ended 31^st March 2025. 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. For
the matter below our description of how our audit
addressed the matter is provided in that context.

We have determined the matters described below
to be the key audit matters to be communicated
in our report. We have fulfilled the responsibilities
described in the Auditor's responsibilities for the
audit of the Standalone Financial Statement section
of our report, including in relation to these matters.
Accordingly, our audit included the performance of
procedures designed to respond to our assessment
of the risks of material misstatement of the
Standalone Financial Statement. The results of
our audit procedures, including the procedures
performed to address the matters below, provide
the basis for our audit opinion on the accompanying
Standalone Financial Statement.

Information other than the Standalone
Financial Statements and Auditor's
Report thereon

5. The Company's Management and Board of
Directors are responsible for the preparation
of the other information and presentation of its
report (Hereinafter called as "Board Report") which
comprises various information required under
Section 134(3) of the Companies Act, 2013. However,
our opinion on the Standalone Financial Statements
does not cover 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 and, in doing so, consider whether
the other information is materially inconsistent
with the Standalone Financial Statements or our
knowledge obtained in the audit or otherwise
appears to be materially misstated. If, based on the
work we have performed, we conclude that there is
a material misstatement of this other information,
we are required to report that fact. We have nothing
to report in this regard.

Management's and Board of Directors'
Responsibility for the Standalone
Financial Statements

6. 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 of these Standalone
Financial Statements that give a true and fair view
of the financial position, financial performance and
cash flows of the Company in accordance with
the accounting principles generally accepted in
India, including the Indian Accounting Standards
prescribed under Section 133 of the Act. 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.

7. In preparing the Standalone 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.

8. Those Board of Directors are responsible
for overseeing the Company's financial
reporting process.

Auditor's Responsibilities for the Audit of the
Standalone Financial Statements

9. Our responsibility is to express an opinion on these
Standalone Financial Statements based on our
report. In conducting our audit, we have taken into
account the provisions of the act: the accounting and
auditing standards and matter which are required
to be included in audit report under the provisions of
the Act and Rules made thereunder.

10. 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 Standards on Auditing 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.

11. As part of an audit in accordance with Standards
on Auditing, we exercise professional judgment and
maintain professional skepticism throughout the
audit. We also:

Ý 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.

Ý 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 on the internal financial controls
with reference to the consolidated Standalone
Financial Statements and the operating
effectiveness of such controls.

Ý Evaluate the appropriateness of accounting
policies used and the reasonableness of
accounting estimates and related disclosures
made by management.

Ý 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 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.

Ý 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.

12. 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.

13. 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.

14. 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 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

15. 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 Companies Act, 2013 we give
in the "annexure A" a statement on the matters
specified in paragraphs 3 and 4 of the order, to the
extent applicable.

16. 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 of the Company.

(c) The Standalone Balance Sheet, the Standalone
Statement of Profit and Loss (including other
comprehensive income), the Standalone
Statement of Changes in Equity and the
Standalone Statement of Cash Flows 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 Indian
Accounting Standards specified under Section
133 of the Act.

(e) On the basis of the written representations
received from the directors as on 31^st March,
2025 and taken on record by the Board of
Directors, none of the directors is disqualified as
on 31^st March, 2025 from being appointed as a
director in terms of Section 164 (2) of the Act

(f) With respect to the adequacy of the internal
financial controls with reference to Standalone
Financial Statements of the Company and the
operating effectiveness of such controls, refer to
our separate Report in "Annexure B'.

(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 has disclosed the impact, if
any, of pending litigations on its financial
position in its Standalone Financial

Statements - Refer Note- 36 to the
Standalone Financial Statements;

ii. The Company has made provision, as required
under the applicable law or accounting
standards, for material foreseeable losses,
if any on long term long-term contracts
including derivative contracts.

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

(h) (i) 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:

Ý 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

Ý provide any guarantee, security
or the like to or on behalf of the
Ultimate Beneficiaries.

(ii) 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:

Ý 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

Ý provide any guarantee, security
or the like from or on behalf of the
Ultimate Beneficiaries.

(iii) 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 (h) (i) and
(h) (ii) contain any material mis-statement.

(i) (a) The final dividend proposed in the previous

year, declared and paid by the Company
during the year is in accordance with Section
123 of the Act, as applicable

(b) The Board of Directors of the Company
have proposed final dividend for the year
which is subject to the approval of the
members at the ensuing Annual General
Meeting. The amount of dividend proposed
is in accordance with section 123 of the Act,
as applicable.

(j) Based on our examination, which included test
checks, the Company has used accounting
software systems for maintaining its books of
account for the financial year ended March
31, 2025 which have the feature of recording
audit trail (edit log) facility and the same has
operated throughout the year for all relevant
transactions recorded in the software systems.
Further, during the course of our audit we did
not come across any instance of the audit trail
feature being tampered with and the audit trail
has been preserved by the Company as per the
statutory requirements for record retention.

(k) With respect to the matter to be included in
the Auditors' Report under section 197(16) - In
our opinion and according to the information
and explanations given to us and based on our
examination of the records of the Company, the
Company has paid/provided for managerial
remuneration in accordance with the requisite
approvals mandated by the provisions of section
197 read with Schedule V to the Act.

Place: Indore For M. MEHTA S COMPANY

Dated:22.05.2025 Chartered Accountants

Firm Regn. No. 000957C

CA Nitin Bandi

(Partner)
M. No. 400394
UDIN: 25400394BMIXDN3800