We have audited the accompanying quarterly financial results of KCL INFRA PROJECTS LIMITED for the
quarter ended 31^st March 2025 and the year to date results for the period from 01^st April 2024 to 31^st March
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 these
financial results:

i. are presented in accordance with the requirements of Regulation 33 of the 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 comprehensive income and other financial
information for the quarter ended 31^st March 2025 as well as the year to date results for the
period from 01^st April 2024 to 31^st March 2025

Basis for 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 Standards 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 results under the provisions of the Companies Act, 2013 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.

Management's Responsibilities for the Financial Results

These quarterly financial results as well as the year to date financial results have been prepared on the
basis of the interim 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
comprehensive income and other financial information in accordance with the recognition and
measurement principles laid down in Indian Accounting Standard 34, '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 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 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
the Board of Directors either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the 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 financial results.

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 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.

• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board of Directors.

• 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.

• Evaluate the overall presentation, structure and content of the 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.

• During the current year, certain items in the balance sheet have been reclassified to conform with
the current year's presentation. These reclassifications were made to provide a more accurate and
meaningful presentation of the financial position of the entity. Comparative figures have been
restated where necessary to reflect these changes. These reclassifications have no impact on the
previously reported net assets or profit/loss of the entity.

For SCAN & Co

Chartered Accountants
(Firm Reg. No.113954W)

Place: Indore CA Aman Saluja

Date: 30/05/2025 Partner

UDIN: 25181347BMKROT9281 M. No. 181347