1. We have audited the accompanying Standalone Financial Statements of Acme Resources Limited ("the
Company"), which comprise the Standalone Balance sheet as at March 31, 2025, the Standalone Statement
of Profit and Loss, including Standalone 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 a summary of significant accounting policies and other
explanatory information (hereinafter referred to as "the Standalone Financial Statements").

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

Basis for Opinion

3. We conducted our audit of the Standalone Financial Statements in accordance with the Standards on
Auditing (SAs), as 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 audit opinion on the Standalone Financial Statements.

Emphasis of Matter

4. We draw your attention to Note 10 to the Standalone Financial Statements which states that, during the
financial year 2023-24, inventory of the Company having a book value of ?543.92 lakh was provisionally
attached by the Income Tax Department under Section 132(9B) of the Income Tax Act, 1961. Out of the
aforementioned amount, inventory valued at ?115.80 lakh has been released by the Income Tax
Department against a bank guarantee furnished by the Company.

Pursuant to the provisional attachment, the Company is restricted from transferring, creating any charge
on, or parting with possession (by way of sale, mortgage, gift, exchange, or any other mode of transfer
whatsoever) of the inventory for which the attachment has not yet been released.

5. We draw your attention to Note 35 to the Standalone Financial Statements which states that, during the
current financial year, the Holding Company has received demand notices from the Income Tax
Department under Section 156 of the Income Tax Act, 1961 amounting to Rs. 3,541.50 lakh, Rs. 6,229.07
lakh, and Rs. 193.14 lakh for Assessment Years 2015-16, 2016-17, and 2023-24, respectively. The Company
believes that the demands are not sustainable on merits and has challenged the same before the
Commissioner of Income Tax (Appeals) [CIT(A)]

6. Our opinion on standalone financial statements of the company is not modified in respect of matters
mentioned above.

Key Audit Matter(s)

7. Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the standalone financial statements for the financial year ended March 31, 2025. 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. We have
determined the matters described below to be the key audit matters to be communicated in our report.

8. We have determined the matter described below to be the key audit matters to be communicated in our
report.

Information Other than the Standalone Financial Statements and Auditor's Report Thereon

9. The Company's management and Board of Directors are responsible for the preparation of the other
information. The other information comprises the information included in the Annual Report, but does
not include the standalone financial statements and our auditor's report thereon. The Annual report is
expected to be made available to us after the date of this auditor's report.

10. Our opinion on the standalone financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon.

11. 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 during the course of our audit or otherwise
appears to be materially misstated.

12. When we read the other information as stated above and if we conclude that there is a material
misstatement therein, we are required to communicate the matter to those charged with governance

Management's Responsibility for the Standalone Financial Statements

13. 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 standalone other comprehensive income, standalone
cash flow and standalone changes in equity 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.

14. This responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding 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.

15. In preparing the standalone financial statements, 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.

16. 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

17. 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.

18. 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 financial controls 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 system 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.

19. Materiality is the magnitude of misstatements in the standalone financial statements that, individually or
in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the
financial statements may be influenced. We consider quantitative materiality and qualitative factors in (i)
planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the
effect of any identified misstatements in the standalone financial statements.

20. 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.

21. 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.

22. 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 for the financial year ended
March 31, 2025 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

23. As required by the Companies (Auditor's Report) Order, 2016 ("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.

24. 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.

(c) The Standalone Balance Sheet, the Standalone Statement of Profit and Loss including standalone
Other Comprehensive Income, the Standalone Statement of Cash Flow and the Standalone
Statement of Changes in Equity 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 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 31st March, 2025 taken
on record by the Board of Directors, none of the directors is disqualified as on 31st March, 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 over financial reporting with
reference to financial statements of the Company and the operating effectiveness of such controls,
refer to our separate report in "Annexure B"; and

(g) 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, 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
financial statements (Refer Note no. 35 of the financial statement);

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

iii. There were no amounts which were 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 their knowledge and belief, other than
as disclosed in the notes to the accounts if any, 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 entities, 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, that, to the best of their knowledge and belief, other than
as disclosed in the notes to the accounts if any, 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; and

c. Based on such audit procedures, we have considered reasonable and appropriate in the
circumstances, nothing has come to our notice that has caused them to believe that the
representations under sub-clause (i) and (ii) contain any material mis-statement.

v. The Company has not declared or paid any dividend during the year and has not proposed
any dividend for the year. Therefore, reporting in this regard is not applicable to the Company.

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 systems. Further, during the course of our audit we did not come
across any instance of the audit trail feature being tampered with and the audit trail has been
preserved by the Company as per the statutory requirements for record retention.

25. In our opinion, the remuneration paid/ provided by the Company for its directors and managers for the
year ended March 31, 2025 is in accordance with the provisions of section 197 read with Schedule V to the
Act.

For Agarwal & Dhandhania
Chartered Accountants
Firm's Registration Number - 125756W

Place of Signature: New Delhi sd/-

Date: 29^th May 2025 (Mr. Alok Dhandania)

Partner

Membership Number - 111062
UDIN No. - 25111062BMGYZV8642