1. We have audited the accompanying
standalone financial statements of Techno
Electric & Engineering Company Limited
('the Company'), which comprise the
Standalone Balance Sheet as at 31 March
2025, the Standalone Statement of Profit
and Loss (including Other Comprehensive
Income), the Standalone Statement of
Cash Flow and the Standalone Statement
of Changes in Equity for the year then
ended, and notes to the standalone
financial statements, including material
accounting policy information and other
explanatory information.

2. 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 Indian Accounting Standards ('Ind
AS') specified under section 133 of the Act
read with the Companies (Indian Accounting
Standards) Rules, 2015 and other
accounting principles generally accepted in
India, of the state of affairs of the Company
as at 31 March 2025, and its profit (including
other comprehensive income), its cash flows
and the changes in equity for the year ended
on that date.

Basis for Opinion

3. We conducted our audit in accordance
with the Standards on Auditing 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 ('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 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.

Emphasis of Matter - Trade receivables and

Other financial assets

4. We draw attention to notes 9B(i), 12 (viii)
and (ix) to the accompanying standalone
financial statements for the year ended 31
March 2025 in connection with the trade
receivables and other financial assets
aggregating to T 9,059.64 lakhs, which are
pending settlement / realization and are
substantially overdue as on 31 March 2025.
The management of the Company, based
on its internal assessment, external legal
opinions and certain interim favourable
regulatory orders, is of the view that the
aforesaid balances are fully recoverable and
accordingly, no provision for impairment is
required to be recognized in respect of such
balances as on 31 March 2025. Our opinion
is not modified in respect of this matter.

information other than the Standalone
Financial Statements and Auditor's Report
thereon

7. The Company's Board of Directors are
responsible for the other information. The
other information comprises the information
included in the Director's Report but

does not include the standalone financial
statements and our auditor's report thereon.

Our opinion on the standalone financial
statements does not cover the other
information and we will 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
identified above when it becomes available
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. 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.

Responsibilities of Management and Those
Charged with Governance for the Standalone
Financial Statements

8. The accompanying standalone financial
statements have been approved by
the Company's Board of Directors.

The Company's Board of Directors are
responsible for the matters stated in
section 134(5) of the Act with respect
to the preparation and presentation 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 Ind AS specified

under section 133 of the Act and other
accounting principles generally accepted
in India. 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.

9. In preparing the standalone financial
statements, the Board of Directors 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 the Board of
Directors either intends to liquidate the
Company or to cease operations, or has no
realistic alternative but to do so.

10. The Board of Directors is also responsible
for overseeing the Company's financial
reporting process.

Auditor's Responsibilities for the Audit of the

Standalone Financial Statements

11. 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 Standards on Auditing
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.

12. As part of an audit in accordance with
Standards on Auditing, specified under
section 143(10) of the Act we exercise
professional judgment and maintain
professional scepticism 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 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
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 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; and

• 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.

13. 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.

14. 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.

15. 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

16. As required by section 197(16) of the Act,
based on our audit, we report that the
Company has paid remuneration to its
directors during the year in accordance with
the provisions of and limits laid down under
section 197 read with Schedule V to the Act.

17. 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 A, a statement on the matters
specified in paragraphs 3 and 4 of the Order,
to the extent applicable.

18. Further to our comments in Annexure A,
as required by section 143(3) of the Act
based on our audit, we report, to the extent
applicable, 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 purpose of our
audit of the accompanying standalone
financial statements;

b) Except for the matters stated in
paragraph 18(i)(vi) below on reporting
under Rule 11(g) of the Companies
(Audit and Auditors) Rules, 2014 (as
amended), 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 standalone financial statements
dealt with by this report are in
agreement with the books of account;

d) In our opinion, the aforesaid standalone
financial statements comply with Ind
AS specified under section 133 of

the Act;

e) The matters described in paragraph 4
under the Emphasis of Matter, in our
opinion, may have an adverse effect on
the functioning of the Company;

f) 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

31 March 2025 from being appointed
as a director in terms of section 164(2)
of the Act;

g) The qualification relating to the
maintenance of accounts and other
matters connected therewith are as
stated in, paragraph 18(b) above on
reporting under section 143(3)(b) of
the Act and paragraph 18(i)(vi) below
on reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules,
2014 (as amended);

h) With respect to the adequacy of
the internal financial controls with
reference to financial statements of
the Company as on 31 March 2025
and the operating effectiveness of
such controls, refer to our separate
report in Annexure B wherein we have
expressed an unmodified opinion; and

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, as detailed in note 38A
to the standalone financial statements,
has disclosed the impact of pending
litigations on its financial position as at
31 March 2025;

ii. The Company did not have any long¬
term contracts including derivative
contracts for which there were any
material foreseeable losses as at

31 March 2025;

iii. There were no amounts which were
required to be transferred to the
Investor Education and Protection
Fund by the Company during the year
ended 31 March 2025;

iv. a. The management has

represented that, to the best
of its knowledge and belief,
as disclosed in note 44(v)
to the standalone financial
statements, no funds have been
advanced or loaned or invested
(either from borrowed funds or
securities premium or any other
sources or kind of funds) by the
Company to or in any person(s)
or entity(ies), including foreign
entities ('the 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 ('the Ultimate
Beneficiaries') or provide any
guarantee, security or the like on
behalf the Ultimate Beneficiaries;

b. The management has

represented that, to the best
of its knowledge and belief, as
disclosed in note 44(vi) to the

standalone financial statements,
no funds have been received by
the Company from any person(s)
or entity(ies), including foreign
entities ('the 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

c. Based on such 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 management
representations under sub¬
clauses (a) and (b) above contain
any material misstatement.

v. The final dividend paid by the
Company during the year ended
31 March 2025 in respect of such
dividend declared for the previous
year is in accordance with section 123
of the Act to the extent it applies to
payment of dividend.

As stated in note 16(d) to the
accompanying standalone financial
statements, the Board of Directors
of the Company have proposed final
dividend for the year ended 31 March
2025 which is subject to the approval
of the members at the ensuing Annual
General Meeting. The dividend
declared is in accordance with section
123 of the Act to the extent it applies to
declaration of dividend.

vi. As stated in note 45 to the standalone
financial statements and based on
our examination which included test
checks, except for instances mentioned
below, the Company, in respect of
financial year commencing on or after
1 April 2024, 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 been 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 other than the consequential
impact of the exception given below.
Furthermore, the audit trail has
been preserved by the Company as
per the statutory requirements for
record retention.

For Walker Ohandiok & Co LLP

Chartered Accountants
Firm's Registration No.: 001076N/N500013

Dhiraj Kumar

Partner

Membership No.: 060466
UDIN: 25060466BMKTPC6846

Place: Kolkata
Date: 27 May 2025