1. We have audited the accompanying standalone financial results of Satiate Agri Limited
(hereinafter referred to as “the company”) for the year ended March 31, 2025 and the
standalone statement of assets and liabilities and standalone 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 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, ('listing regulations').
2. In our opinion and to the best of our information and according to the explanations given to
us these standalone financial results:
(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and
(ii) give a true and fair view in conformity with recognition and measurement principles
laid down in applicable accounting standards prescribed under Section 133 of the
Companies Act, 2013 (“the Act”) and other accounting principles generally accepted in
India, of the net profit (including other comprehensive income) and other financial
information of the company for the year ended March 31, 2025, and the standalone
statement of assets and liabilities and standalone statement of cash flows as at and for
the year ended on that date.
Basis for Opinion
3. We conducted our audit in accordance with Standards on Auditing (SAs) specified under
Section 143(10) of the Act and other applicable authoritative pronouncements issued by the
Institute of Chartered Accountants of India (“the ICAI”). Our responsibilities under those
standards are further described in the 'Auditor's Responsibilities for the Audit of Standalone
Financial Results' section of our report. We are independent of the company in accordance
with the code of ethics issued by the ICAI together with ethical requirements that are
relevant to our audit of the standalone financial results under the provisions of the Act and
Rules made thereunder, and we have fulfilled our ethical responsibilities in accordance with
the requirements with these requirements and the Code of Ethics. We believe that the audit
evidences obtained by us is sufficient and appropriate to provide a basis for our opinion.
Board of Directors' Responsibilities for the Standalone Financial Results
4. These standalone financial results have been prepared on the basis of the annual standalone
financial statements. The company's Board of Directors are responsible for the preparation
and presentation of these standalone 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 standalone statement of assets and liabilities and standalone statement of cash
flows in accordance with recognition and measurement principles laid down in the Indian
Accounting Standards prescribed under Section 133 of the Companies Act, 2013 (“the Act”)
read with relevant issues thereunder and other accounting principles generally accepted in
India and in compliance with Regulation 33 of the Listing Regulations. 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 accounting policies;
making judgement 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 standalone financial statements that
give true and fair view and are free for material misstatement, whether due to fraud and
error.
5. In preparing the standalone financial results, the Board of Directors of the Company are
responsible for assessing the ability of the Company to continue as 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.
6. The Board of Directors of the Company is responsible for overseeing the financial reporting
process of the Company.
Auditor's Responsibilities for the Audit of Standalone Financial Results
7. Our objectives are to obtain reasonable assurance about whether the standalone 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 not a guarantee that an audit conducted in accordance with SAs will always
detect a material misstatement when it exists. Misstatement can arise from a fraud or error
and consider material, if, individually or in aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these standalone financial
results.
8. As part of an audit in accordance with the SAs, we exercise professional judgement and
maintain professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial results, whether
due to fraud or error, design and perform audit procedure responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to our basis of opinion. The risk
of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud involves collusions, forgery, intentional omissions,
misrepresentations, or override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in 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.
• Evaluate the appropriateness of the accounting policies used and reasonableness of
accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors use of the going concern
basis of accounting and, based on our audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt on the
ability of the company to continue as a going concern. If we conclude that material
uncertainty exists, we are required to draw attention in our auditor's report to the
related disclosures in the standalone financial results or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidences
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 financial results including the
disclosures and whether the standalone financial results represent the underlying
transactions and events in the manner that achieves fair presentation.
9. We communicate with those charged with governance of the company regarding, among
other matters, the planned scope of timing of the audit and significant audit findings,
including 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 our independence,
and wherever applicable, related safeguards.
Other Matters
10. The standalone financial results include the results for the quarter ended March 31, 2025
and March 31, 2025 being the balancing figures between audited figures in respect of the
full financial year and the published year to date figures up to the end of the third quarter of
the respective financial year. Also, the figures up to the end of the third quarter had only
been reviewed and not subjected to audit.
FOR D G M S & CO.
Chartered Accountants
Firm Regn. No. 0112187W
Mohl Digitally s'9ned
by Mohit Jain
Date: 2025.05.29
t Jain 14:47:20 05'30'
CA Mohit Jain
Partner
Membership No. 547930
UDIN: 25547930BMIUWL7742
Date: 29-05-2025
Place: Jamnagar
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