We have audited the accompanying standalone financial statements of M/s Swarna Securities
Limited ("theCompany"), which comprise the Balance Sheet as at 31st March, 2025, the Statement of
Profit and Loss, the Statement of Changes in Equity and the Statement of Cash Flows for the year
then ended, and a summary of the significant accounting policies and other explanatory information.
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 Act in the manner so
required and give a true and fair view in conformity with the Indian Accounting Standards prescribed
under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as
amended, and other accounting principles generally accepted in India, of the state of affairs of the
Company as at 31st March, 2025, and its profit, changes in equity and 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
("SA"s) 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 ourreport. 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 ethical
requirements that are relevant to our audit of the standalone 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 obtained by us is sufficient and appropriate to provide a basis for our audit
opinion on the standalone financial statements.
Key Audit Matters
We have determined that there are no key audit matters to communicate in our report.
Information Other than the Financial Statements and Auditor's Report Thereon
The Company's Board of Directors is responsible for the other information. The other information
comprises the informationincluded in the Management Discussion and Analysis, Board's Report
including Annexures to Board's Report, BusinessResponsibility Report, Corporate Governance and
Shareholder's Information, but does not include the standalone financialstatements and
ourauditor's report thereon.
Ouropinion on the standalone financial statements does not cover the other information and we do
not express any form ofassurance conclusion thereon.
In connection with ouraudit of the standalone financial statements, ourresponsibility is to read the
other information and,in doing so, consider whether the other information is materially inconsistent
with the financial statements or ourknowledge obtained during the course of our audit or otherwise
appears to be materially misstated.
If, based on the work wehave performed, weconclude that there is a material misstatement of this
other information, we are required to report that fact. Wehave nothing to report in this regard.
Management's Responsibilities for the Financial Statements
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Act
with respect to thepreparation 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 specified under section 133 of
the Act. This responsibility also includes maintenance of adequate accountingrecords in accordance
with the provisions of the Act for safeguarding the assets of the Company and for preventing and
detectingfrauds and other irregularities; selection and application of appropriate accounting policies;
making judgments and estimatesthat are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls, thatwere operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to the preparationand 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, management is responsible for assessing the
Company's ability to continueas a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accountingunless 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 responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Statements
Ourobjectives are to obtain reasonable assurance about whether the standalone financial
statements as a whole are free frommaterial misstatement, whether due to fraud or error, and to
issue an auditor's report that includes our opinion. Reasonableassurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with SAs will always detecta material
misstatement when it exists. Misstatements can arise from fraud or error and areconsidered
material if, individuallyor in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of thesefinancial statements.
As part of an audit in accordance with SAs, weexercise professional judgment and maintain
professional scepticismthroughout the audit. Wealso:
• 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 appropriateto provide a basis for ouropinion.
The risk of not detecting a material misstatement resulting from fraud is higher than forone
resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the overrideof internal control.
• Obtain an understanding of internal financial control relevant to the audit in order to design
audit procedures that areappropriate in the circumstances. Under section 143(3)(i) of the Act,
we are also responsible for expressing ouropinionon whether the Company has adequate
internal financial controls system in place and the operating effectiveness of suchcontrols.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and relateddisclosures made by the management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting
and, based on the auditevidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt onthe Company's ability to continue as a
going concern. If weconclude that a material uncertainty exists, we are required todraw
attention in our auditor's report to the related disclosures in the standalonefinancial
statements or, if such disclosuresare 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 achievesfair presentation.
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of theaudit and significant audit findings, including any significant deficiencies in
internal control that weidentify during our audit.
We also provide those charged with governance with a statement that wehave complied with
relevant ethical requirementsregarding independence, and to communicate with them all
relationships and other matters that may reasonably be thoughtto 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 significancein 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 extremelyrare circumstances, wedetermine that a matter should not be communicated
in our report because the adverse consequencesof 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 section 143(11) of the Companies Act, 2013, wegive in 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, wereport that:
(a) Wehave 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.
(c) The Balance Sheet, the Statement of Profit and Loss, the Statement of Changes in Equity and
the Statement of Cash Flows dealt with by this Report are in agreement with the books of
account.
(d) In our opinion, the aforesaid standalonefinancial statements comply with the Indian
Accounting Standards specified under section 133 of the Act.
(e) On the basis of the written representations received from the directors as on 31st March, 2025
taken on record by the Board of Directors, none of the directors is disqualified as on 31stMarch,
2025 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 with reference to standalone
financial statements of theCompany and the operating effectiveness of such controls, refer to
our separate report inAnnexure-B. Our report expresses an unmodified opinion on the
adequacy and operating effectiveness of the Company's internal financial controls with
reference to Standalone Financial Statements.
(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, according to the explanations
given to us and as per the records of the Company examined by us, we report that the
Company has not paid any remuneration to its directors during the year.
(h) With respect to the other matters to be included in the Auditor's Report in accordance
withRule 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 as on 31st March, 2025 on its
financial position in its standalone financial statements. (Refer Item 7 of Significant
Accounting Policies & Notes on Accounts to the standalone financial statements).
ii. the Company does not have any long-term contracts including derivative contracts for
which there are any material foreseeable losses.
iii. there are no amounts which are 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 (either from borrowed funds or share premium or any other sources or
kind of funds) by the company to or in any other person(s) or entity(ies), 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; and
(b) The Management has represented that to the best of its knowledge and belief,no
funds have been received by the Company from any person(s) or entity(ies), 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.
(c) Based on audit procedures that have been considered reasonable and appropriate in
the circumstances, nothing has come to ournotice that has caused us to believe that
the representations under sub-clause (i) and (ii) of Rule 11(e), as provided at (a) and (b)
above, contain any material misstatement.
v. The Company has not declared or paid any dividends during the year and accordingly
reporting on the compliance with section 123 of the Companies Act, 2013 is not applicable
for the year under consideration.
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. Further, during the course of our audit we did not
come across any instance of audit trail feature being tampered with and the audit trail has
been preserved by the Company as per the statutory requirements for record retention.
PLACE: Vijayawada For SESHADRY & COMPANY
DATE: 07/05/2025 Chartered Accountants
UDIN: 25216211BMJGPU1305 FRN: 004993S
(L. S. RAJENDRA)
Partner
M.No.216211
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