We have audited the standalone financial statements of NAVODAY ENTERPRISES LIMITED ("the Company")
having CIN No U74300MH2007PLC173780, which comprise the balance sheet as at 31st March, 2024, and the
statement of Profit and Loss, (statement of changes in equity) and statement of cash flows for the year ended as
on 31st March, 2024, and notes to the financial statements, including a summary of significant accounting policies
and other explanatory information [in which are included the Returns for the period ended on that date audited
by the branch auditors of the Company's branches.

In our opinion and to the best of our information and according to the explanations given to us, except for the
effects of the matter described in the Basis for Qualified Opinion paragraph below, the aforesaid standalone
financial statements give the information required by the Act 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 31st March, 2024, and profit (changes in equity) and its cash flows for the year ended on 31st
March, 2024.

Basis for qualified Opinion

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 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 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 financial statement.

1. Company has not complied with the provisions of Section 186 of the companies act while giving loan to the
third parties as below -

a. No interest is being charged on the loans given.

b. No disclosure of full particulars of the loans is being made in the financial statements.

2. Our report expresses qualified opinion on the adequacy and operating effectiveness of the Company's
internal financial controls with reference to standalone financial statements.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were 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, and we do not provide a separate opinion on
these matters.

Reporting of key audit matters as per SA 701, Key Audit Matters are applicable to the Company as it is a listed
company.

Reporting of key audit matters as per SA 701, below are our observation for the financial year 2023-2024:

1. TDS returns and TDS Challans could not be verified with the books of account as TDS Return and TDS
Challans not filled/ paid as of date of this report.

2. No TDS has been deducted and paid in the F.Y. 2023-24 for the following transactions. However, the
same has been booked on 01/04/2024.

3. No Supporting documents (Challans) for MCA expenses of Rs. 3,10,265.52 has been provided.

Other Matters

Other matters are those matters other than those that are presented or disclosed in the financial statements that,
in our opinion is relevant to user's understanding of the audit.

Reporting of other matters for the FY 2023-24:

1. GSTR 9 and 9C not filed for FY 2018-19, FY 2020-2021 and FY 2021-22 till date of this report.

2. Input Tax Credit as per Books is Rs. 1,77,19,422 and as per GSTR3B is Rs. 2,02,46,898 resulting to difference of
Rs. 25,27,476 which is unreconciled until this date of this audit report.

3. The company has been issued below notices from GST Department as per GST Portal -

Responsibilities of Management and Those Charged with Governance for the Standalone 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 standalone financial statements that give a true and fair
view of the financial position, financial performance, (changes in equity) and cash flows of the Company in
accordance with the accounting principles generally accepted in India, including the accounting Standards
specified 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 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.

Those 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 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 section 143(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
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. From the matters communicated with those charged with governance, 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. We describe these matters 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 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 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) Except in respect of matters specified in the basis for Qualified Opinion Paragraph above, 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) Except in respect of matters specified in the basis for Qualified Opinion Paragraph above, 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 except for the matter stated in paragraph h) vii below on reporting under Rule
11(g) of the Companies (Audit and Auditors) Rules, 2014 (as amended).

c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, Statement of
Changes in Equity and the Statement of Cash Flow Statement dealt with by this Report are in agreement
with the books of account.

d) Except for the effects of the matters described in the Basis for Qualified Opinion paragraph above, in our
opinion, the aforesaid standalone 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) The matter described in the Basis for Qualified Opinion paragraph above, in our opinion, may not have an
adverse impact on the functioning of the Company.

f) On the basis of the written representations received from the directors as on 31stMarch, 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.

g) With respect to the adequacy of the Internal Financial Controls with reference to the financial statements of
the company and the operating effectiveness of such controls, refer to our separate Report in "Annexure
B". Our Report expresses a qualified opinion on the adequacy and operating effectiveness of the company's
internal financial controls with reference to standalone financial statements.

h) 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.

i) The qualification relating to the maintenance of accounts and other matters connected therewith are as
stated in the Basis for Qualified Opinion paragraph above.

j) 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 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. (a) The Management has represented that, to the best of its knowledge and belief, no funds (which are
material either individually or in the aggregate) 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 person or entity, including foreign entity ("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;

(b) The Management has represented, that, to the best of its knowledge and belief, no funds (which are
material either individually or in the aggregate) have been received by the Company from any person or
entity, including foreign entity ("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 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 Beneficiaries;

(c) Based on the audit procedures that have 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.

v. No dividend have been declared or paid during the year by the company.

As proviso to Rule 3(1) of the companies (Accounts) Rules, 2014 is applicable from April 1, 2023, reporting
under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of Audit Trail as per
statutory requirements for record retention is not applicable for the financial year ended March 31, 2024.

For Choudhary Choudhary & Co.

Chartered Accountants
Firm Reg. No. 02910C

CA Tanuja Mishra
Partner

Membership No. 136933
Place: Mumbai
Date: 31.05.2024
UDIN: 24136933BKAWGE6922