We have audited the accompanying financial statements of MY MUDRA FINCORP LIMITED ('the Company"), which
comprises the Balance Sheet as at 31st March, 2026; the Statement of Profit and Loss (including Other Comprehensive
Income), Statement of Changes in Equity and the Statement of Cash Flows for the year then ended and notes to financial
statements, including a summary of significant accounting policies and other explanatory information (hereinafter referred
to as "Financial Statements").
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial
statements read together with the notes thereon, 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 principles generally accepted in India,
to the extent applicable; of the state of affairs of the Company as at 31st March, 2026; its Profit, its Cash Flows for the year
ended on that date.
Basis for Opinion
We conducted our audit of the financial statements 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 (ICAI) together with the independence
requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules made
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these 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 these financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, are of most significance in our audit of the financial
statements of the current period. These matters were addressed in the context of our audit of the financial statements as a
whole, and in forming our opinion thereon.
Based on our audit of Financial Statements of the Company for the period under review, we did not come across any
material Key Audit Matters to be communicated in our report.
Emphasis of Matter
We draw attention to Clause ii(b) of Annexure B to this report on material differences in amounts reported in quarterly
statements filed by the company as compared to books of accounts. In the opinion of the management of the company, the
said quarterly statements needs to be submitted on respective due dates, pending the finalization of books of accounts.
However, the books of accounts are to be considered as final, hence our opinion is not modified in this regard.
Information Other than the 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 Management Discussion and Analysis, Board's Report including annexures to Board's Report,
and Shareholder's Information, but does not include 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 financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained
during the course of our 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 Responsibility for the Financial Statements
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 financial statement that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India, as
prescribed under Section 133 of the Act, read with the Companies (Indian Accounting Standards) Rules 2015, as amended. The
Management and Board of Directors of the company are responsible for the maintenance of adequate accounting records in
accordance with the provisions of the Act, for safeguarding of 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 the 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 financial statements that give a true and fair view and are free from material misstatement, whether
due to fraud or error, which have been used for the purpose of preparation of the financial statements by the Management and
Directors of the Company, as aforesaid.
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.
The Board of Directors are also responsible for overseeing the company's financial reporting process.
Auditor's Responsibilities for the Audit of the 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
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
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 insufficient 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 controls 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 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.
Materiality is the magnitude of misstatements in the financial statements that, individually or in 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 and in evaluating the results of our work;
and (ii) to evaluate the effect of any identified misstatements in the financial statements.
We communicate with those charged with governance (TCWG) 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 (TCWG) 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 (TCWG), we determine those matters that were of
most significance in the audit of the financial statements of the current period and are therefore the key audit matters, if any
identified. We describe these matters, if any 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 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 of aforesaid financial statements.
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, Statement of Profit and Loss, the Cash Flow Statement and the dealt with by this Report are in
agreement with the relevant books of account, as submitted to us;
d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section
133 of the Act, read with Companies (Indian Accounting Standard) Rules, 2015 as amended;
e) On the basis of the written representations received from the directors as on March 31, 2026 taken on record by
the Board of Directors, none of the directors is disqualified as on March 31,2026 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 over financial reporting of the Company and the
operating effectiveness of such controls, refer to our separate Report in "Annexure A". Our report expresses an
unmodified opinion on the adequacy and operating 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 the requirements of
section 197(16) of the Act, as amended:
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) 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, as amended in our opinion and to the best of our information and according to the
explanations given to us:
i. There were no pending litigations which would impact the financial position of the Company;
ii. The Company has made all material provisions, except as mentioned in the notes to accounts, if any, as
required under the applicable law or accounting standards, for material foreseeable losses, if any, and as
required on 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.
iv. 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 funds to any other
person(s) or entity(is), including foreign entities (intermediaries), with the understanding that the
intermediary shall; 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 to or 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 any funds from any person(s) or entity(ies),
including foreign entities (Funding Party) with the understanding (whether recorded in writing or
otherwise) that the Company shall; 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 to or on behalf of the Ultimate Beneficiaries;
c) Based on the audit procedures that has been 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
(i) and (ii) of rule 11(e), as provided under (a) and (b) above, contain any material misstatement; and
v. Since the Company has not declared or paid any dividend during the year, the requirement of commenting
on whether dividend declared or paid is in accordance with Section 123 of the Companies Act, 2013 is not
applicable.
vi. The reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 is applicable from 1 April
2023.
Based on our examination which included test checks, the Company has used accounting software for
maintaining its books of account, which have a feature of recording audit trail (edit log) facility and the same
has operated throughout the year for all relevant transactions recorded in the respective software.
Further, for the periods where audit trail (edit log) facility was enabled and operated throughout the year for the
respective accounting software, we did not come across any instance of the audit trail feature being tampered
with.
2. As required by the Companies (Auditor's Report) Order, 2020 ("the Order") issued by the Central Government in terms of
Section 143(11) of the Act, we give in "Annexure B" a statement on the matters specified in paragraphs 3 and 4 of the
Order.
For M/s Sangita Gupta & Associates
Chartered Accountants
Firm Registration No: 023808N
Sd/-
CA Sangita Kumari Gupta
Partner
Date: 28th May 2026 M. No. 518358
Place: New Delhi UDIN: 26518358FEDTLS4208
|