We have audited the Standalone Financial
Statements of SoftTech Engineers Limited ("the
Company"), which comprise the Balance Sheet as at
March 31, 2025, the Statement of Profit and Loss
(including Other Comprehensive Income), the
Statement of Changes in Equity and the Statement of
Cash Flows for the year then ended, and notes to the
Standalone Financial Statements, including a
summary of material accounting policies and other
explanatory information (hereinafter referred to as
"the Standalone Financial Statements").

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
principles generally accepted in India, of the state of
affairs of the Company as at March 31, 2025, its
profit and other comprehensive income, its changes
in equity and its cash flows for the year ended on that
date.

Basis for Opinion

We conducted our audit in accordance with the
Standards on Auditing ("SAs") specified under

section 143(10) of the Act. 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 together
with the ethical 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
opinion.

Key Audit Matters

Key audit matters are those matters that, in our
professional judgment, were of most significance in
our audit of the Standalone Financial Statements of
the current period. 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.

Other Information

The Company's Board of Directors is responsible for
the other information. The other information
comprises the Management Discussion and Analysis,
Board of Directors' Report along with its Annexures
and the Corporate Governance Report included in
the Annual Report but does not include the
Standalone Financial Statements and our auditor's
report thereon, which is expected to be made
available to us after this auditors' report date. Our

opinion on the Standalone 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 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. When we read
the other information, if we conclude that there is a

material misstatement therein, we are required to
communicate the matter to those charged with
governance and describe actions applicable under
the applicable laws and regulations.

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 Act with
respect to the preparation of these Standalone
Financial Statements that give a true and fair view of
the financial position, financial performance
(including other comprehensive income), changes in
equity and cash flows of the Company in accordance
with the accounting principles generally accepted in
India, including the Indian Accounting Standards (Ind
AS) specified under section 133 of the Act read with
the Companies (Indian Accounting Standards) Rules,
2015, as amended.

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.

In preparing the Standalone Financial Statements,
the 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
Standalone Financial Statements

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 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
Standalone 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 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 Act
we are also responsible for expressing our opinion
on whether the Company has adequate internal
financial controls with reference to the financial
statements 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 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.

• 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.

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
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 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 of India in terms of sub-section (11) of
section 143 of the Act, we give in the Annexure A; a
statement on the matters specified in paragraphs 3
and 4 of the Order, to the extent applicable.

2. 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 except for the matters stated in the
paragraph 2 i) (vi) 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),
the Statement of Changes in Equity and the
Statement of Cash Flow 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, read with Companies (Indian
Accounting Standards) Rules, 2015, as
amended.

e) On the basis of the written representations
received from the directors as on March 31,
2025 taken on record by the Board of Directors,
none of the directors is disqualified as on March

31, 2025 from being appointed as a director in
terms of Section 164 (2) of the Act.

f) With reference to the maintenance of accounts
and other matters connected therewith, refer to
our comment in Paragraph 2 (b) above and refer
to our comment in paragraph 2(i)(vi) below, on
reporting under rule 11 (g) of the Companies
(Audit and Auditors) Rules, 2014 (as amended).

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

h) As required by section 197 (16) of the Act; in our
opinion and according to information and
explanation provided to us, the remuneration
paid by the Company to its directors is in
accordance with the provisions of section 197 of
the Act and remuneration paid to directors is
not in excess of the limit laid down under this
section.

i) 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 disclosed the impact of
pending litigations on its financial position
in its Standalone Financial Statements -
Refer Note 30(ii);

(ii) The Company did not have any long-term
contracts including derivative contracts for
which there were any material foreseeable
losses.

(iii) There is no amount required to be
transferred, to the Investor Education and
Protection Fund by the Company.

(iv) (a) The Management has represented to us
that, to the best of its knowledge and

belief, except as disclosed in Note 5 to the
Standalone Financial Statements, 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.

(b) The Management has represented to us,
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. Refer
Note 40 (c) to the Standalone Financial
Statements.

(c) Based on the information and explanation
given to us and audit procedures
performed as considered reasonable and
appropriate in the circumstances, nothing
has come to our notice that has caused us
to believe that the representations made
by the Management under sub-clause
(iv)(a) and (iv)(b) above contain any
material misstatement.

(v) The Company has not declared or paid
dividend during the year.

(vi) Based on our examination which included
test checks, the Company, has used an
accounting software, for maintaining its

books of account which has a feature of
recording audit trail (edit log) facility and
the same has operated throughout the year
for all relevant transactions recorded in the
software. During the course of our audit, so
far it relates to audit trail in respect of
transactions, we did not come across any
instance of audit trail feature being
tampered with. Additionally, the audit trail
has been preserved by the Company in
accordance with the statutory
requirements for record retention.

For P G BHAGWAT LLP

Chartered Accountants

Firm Registration Number: 101118W/W100682

Abhijeet Bhagwat
Partner

Membership Number: 136835
UDIN: 25136835BMLYSL1887
Pune

May 26, 2025