We have audited the annual financial results of SANMITRA COMMERCIAL LIMITED (hereinafter referred to as the
'Company") for the year ended March 31, 2024 and the Balance Sheet and the Statement of Cash Flows as at and for
the year ended on that date, attached herewith, being submitted by the Company pursuant to the requirement of
Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended (the 'Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
financial results:

i. are presented in accordance with the requirements of Regulation 33 and Regulation 52 of the Listing Regulations in
this regard; and

ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable
accounting standards prescribed under Section 133 of the Companies Act, 2013 (the "Act") and other accounting
principles generally accepted in India, of net profit and other comprehensive income and other financial
information of the Company for the year ended March 31, 2024 and the balance sheet and the statement of cash
flows as at and for the year ended on that date.

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, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We
have determined the matters described below to be key audit matters to be communicated in our report.

Emphasis of Matter

Advance given to creditors and outstanding trade payables/ receivables which pertains to the business of the
company that was closed in FY 2018-19, are yet to be settled. The recoverability of these advances is yet to be
determined by the management. The said advances are subject to confirmation. In absence of any confirmation or
information we are unable to comment on the same.

Other Information

The Company's management and Board of Directors are responsible for the other information. The other information
comprises the information included in the Company's annual report but does not include the financial statements
and our auditors' 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 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 Responsibilities for the Financial Results

These financial results have been prepared based on the annual financial statements. The Company's Board of
Directors are responsible for the preparation and presentation of these financial results that give a true and fair view
of the net profit and other comprehensive income and other financial information of the Company and the balance
sheet and the statement of cash flows in accordance with the recognition and measurement principles laid down in
the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder
and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52
of the Listing Regulations. The Board of Directors of the Company are responsible for 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 the design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring 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 results by the Directors of the Company, as aforesaid.

In preparing the financial results, the Board of Directors of the Company are responsible for assessing the ability of
the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so. The Board of Directors of the Company are responsible for
overseeing the financial reporting process of the Company.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results 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 results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism
throughout the audit. We also:

i. Identify and assess the risks of material misstatement of the financial results, 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.

ii. 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 whether the company has adequate internal financial controls with reference to financial statements
in place and the operating effectiveness of such controls.

iii. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the Board of Directors.

iv. Conclude on the appropriateness of the Board of Directors' 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 results 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.

v. Evaluate the overall presentation, structure and content of the financial results including the disclosures, and
whether the financial results 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 Other 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 Section 143(11) of the Act, we give in the "Annexure 1" 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) Apart from matters stated in emphasis of matter paragraph, we have sought and obtained all the information
and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit.

b) In our opinion, proper books of accounts 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 statement of
change in equity and the Cash Flow Statement dealt with by this Report are in agreement with the relevant
books of account.

d) In our opinion, the aforesaid financial statements comply with Ind AS specified under Section 133 of the Act.

e) On the basis of the written representations received from the directors and taken on record by the Board of
Directors, none of the directors is disqualified as on March 31, 2024, 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 2" to this report.

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 (as amended), in our opinion and to the best of our information
and according to the explanations given to us:

i. The Company has no pending litigations as of March 31, 2024, on its financial position in its standalone
financial statements.

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. 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 person or entity, 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; The management has represented that, to the best of its knowledge and belief,
no funds have been received by the Company from any person or entity, 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 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; and

Based on such audit procedures that were 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 (a)
and (b) contain any material misstatement.

3. As proviso to rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable for the Holding Company or any
of its subsidiary companies incorporated in India only with effect from 1 April 2024, reporting under Rule
11(g) of the Companies (Audit and Auditors) Rules, 2014 is not applicable.

4. In our opinion and to the best of our information and according to the explanation given to us, the company
has not paid any remuneration to its directors during the year. Hence the provisions of Section 197 of the
Act are not applicable.

5. Based on our examination which included test checks, the company has not used an accounting software for
maintaining its books of account which has a feature of recording audit trail (edit log) facility Accordingly, we
are unable to comment on any instance of audit trail feature being tampered.

For Laxmikant Kabra & Co LLP

Chartered Accountants

FRN.: 117183W/ W100736

Sd-

CA Siddhant Kabra

Partner

Membership No.: 193348

Date: 21^st May 2024

Place: Thane

UDIN: 24193348BKEFUM6180