We have audited the accompanying Quarterly financial results of Vasudhagama Enterprises Limited
(Formerly known as Ozone World Limited) (“the Company”) for the Quarter ended March 31, 2025 and
the year-to-date results for the period from April 1, 2024 to March 31, 2025, attached herewith, being
submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 as amended (“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 of 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, and other accounting principles generally accepted in India, of the
net profit/(loss) and other financial information for the Quarter ended March 31, 2025 as well as the
year-to-date results for the period from April 1, 2024 to March 31, 2025.
Basis of Opinion
We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section
143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described
in the Auditor’s Responsibilities for the Audit of the Financial Results 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 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 on the
annual financial results.
Management’s Responsibilities for the Financial Results
These half-yearly financial results as well as the year-to-date financial results have been prepared on the
basis of the interim and annual financial statements. The Company’s Board of Directors are responsible for
the preparation of these financial results that give a true and fair view of the net profit/(loss) and other
financial information in accordance with the recognition and measurement principles laid down in the
Accounting Standard 25 - Interim Financial Reporting 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 of the Listing Regulations. This responsibility also includes maintenance of
adequate accounting records 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
annual financial results that give a true and fair view and are free from material misstatement, whether due
to fraud or error.
In preparing the financial results, the Board of Directors are 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.
The Board of Directors is responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Standalone Financial Results
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 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 results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
a. Identify and assess the risks of material misstatement of the standalone 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.
b. 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 through a separate report on the complete set of financial statements on
whether the company has adequate internal financial controls with reference to financial statements in
place and the operating effectiveness of such controls.
c. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board of Directors.
d. 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.
e. Evaluate the overall presentation, structure and content of the standalone 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.
Other Matters
1. The figures for the Quarter ended March 31, 2025 as reported in these standalone financial results
are the balancing figures between audited figures in respect of the full financial year and the
unaudited year-to-date published figures up to the period ended December 31, 2024 which were
subject to limited review by us.
2. The statement includes result for the Quarter ended March 31, 2025 and March 31, 2024 being the
balancing figure between the audited figures in respect of full financial year and the published year-
to-date figures upto Quarter of the relevant financial year.
For PH SHAH & CO
CHARTERED ACCOUNTANTS
(Firm’s Registration No. - 115464W)
Pamil Shah
(Partner)
(m. No. 049552)
(uDIN -25049552BMJIIB8075)
Place: Ahmedabad
Date: 30-05-2025
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