1. We have audited the accompanying Standalone Financial
Statements of Century Enka Limited ('the Company'), which
comprise the Standalone Balance Sheet as at 31 March 2026,
and the Standalone Statement of Profit And Loss (including Other
Comprehensive Income), Standalone Statement of Changes
in Equity and Standalone Statement of Cash Flows for the year
ended on that date, and notes to the Standalone Financial
Statements, including a summary of material accounting policies
and other explanatory information ('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 ('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 31 March 2026, and its
Profit and Other Comprehensive Income, Changes in Equity and
its Cash Flows for the year ended on that date.

BASIS FOR OPINION

3. We conducted our audit in accordance with the Standards
on Auditing ('SAs') specified under section 143(10) of the Act.
Our responsibilities under those SAs 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 on the Standalone Financial Statements.

EMPHASIS OF MATTER

4. We draw attention to the fact that Note 45(b) of the Standalone
Financial Statements wherein it is stated that, the Excise
department had issued an order dated 31 December 2013
denying the applicability of Notification No. 6/2000 dated 01
March 2000 and raised a demand of '22,927 lacs plus interest
thereon and penalty equivalent to duty demand amount. In this
matter, Customs, Excise and Service Tax Appellate Tribunal
('CESTAT') in its order dated 20 December 2019, upheld the denial
of aforesaid notification and remanded back the matter to Central
Excise Department to redetermine quantum of duty short paid,
imposition of equal amount of penalty on redetermined amount
of duty demand and applicable interest. The Commissioner,
CGST & Central Excise, Raigad Commissionerate has re¬
determined assessable value pursuant to order of CESTAT and
confirmed the demand amounting to '730 lacs (as against above
demand of '22,927 lacs), interest at appropriate rate on the duty
and equal amount of penalty vide its order dated 08 September
2020. Against the said order of the Commissioner, CGST &
Central Excise, Raigad, Department has filed an appeal before
the Appellate Tribunal. The Company's appeal in the matter is
pending before the Honourable Supreme Court of India. The
Company has deposited the duty amount of '730 Lacs under
protest. Based on expert legal advice and merits of the case, no
provision has been considered necessary by the Company. Our
opinion on the Standalone Financial Statements is not modified
in respect of the above matter.

KEY AUDIT MATTERS

5. Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the Standalone
Financial Statements of the current year. 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.

OTHER INFORMATION

6. The Company's Board of Directors are responsible for the other
information. The other information comprises the information
included in the Company's annual report but does not include
the Standalone Financial Statements and our auditors' report
thereon. The Other Information is expected to be made available
to us after the date of this auditor's report.

7. Our opinion on the Standalone Financial Statements does not
cover the other information and we do not express any form of
assurance conclusion thereon.

8. 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.

9. When we read the Annual Report, if we conclude that there is a
material misstatement therein, we are required to communicate
the matter to those charged with governance and take
appropriate action as applicable under the relevant laws and
regulations.

RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED

WITH GOVERNANCE FOR THE STANDALONE FINANCIAL

STATEMENTS

10. 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 State of Affairs, profit and Other
Comprehensive Income, Changes in Equity and Cash Flows
of the Company 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. 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 of the
appropriate accounting software for ensuring compliance
with applicable laws and regulations including those related to
retention of audit logs; 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.

1. 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.

2. 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

13. 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.

14. As part of an audit in accordance with SAs, we exercise
professional judgment and maintain professional scepticism
throughout the audit. We also:

14.1. 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.

14.2. 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 Standalone Financial Statements in place and the operating
effectiveness of such controls.

14.3. Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures
made by the Management.

14.4. Conclude on the appropriateness of the 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.

14.5. 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.

15. 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.

16. 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.

17. 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 year 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

18. As required by the Companies (Auditor's Report) Order, 2020
('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, to the extent applicable.

19. As required by Section 143(3) of the Act, we report that:

19.1. 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.

19.2. In our opinion, proper books of accounts as required by law
have been kept by the Company so far as it appears from our
examination of those books.

19.3. The Standalone Balance Sheet, the Standalone Statement of
Profit and Loss (including Other Comprehensive Income), the
Statement of Changes in Equity and the Standalone Cash Flow
Statement dealt with by this Report are in agreement with the
books of account.

19.4. In our opinion, the aforesaid Standalone Financial Statements
comply with the Ind AS specified under Section 133 of the Act
read with the relevant rules thereunder.

19.5. On the basis of the written representations received from the
directors as on 31 March 2026 taken on record by the Board of
Directors, none of the directors is disqualified as on 31 March
2026 from being appointed as a director in terms of Section
164(2) of the Act.

19.6. With respect to the adequacy of the internal financial controls
with reference to Standalone Financial Statements of the
Company and the operating effectiveness of such controls, refer
to our separate Report in 'Annexure B'.

19.7. In our opinion and according to the information and explanations
given to us, the remuneration paid by the Company to its directors
during the current year is in accordance with the provisions of
Section 197 of the Act. The remuneration paid to any director is
not in excess of the limit laid down under Section 197 of the Act.

20. 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:

20.1. The Company has disclosed the impact of pending litigations
as at 31 March 2026 on its financial position in its Standalone
Financial Statements - Refer Note 45(d) to the Standalone
Financial Statements;

20.2. The Company has made provision, as required under the
applicable law or Ind AS, for material foreseeable losses, if any, on
long-term contracts including derivative contracts - Refer Note
45(c) to the Standalone Financial Statements;

20.3. There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the
Company.

20.4. The Management has represented, to best of their knowledge
and belief as disclosed in Note 44(b) to the Standalone
Financial Statements, 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.

20.5. The Management has represented, to best of their knowledge
and belief disclosed in Note 44(h) to the Standalone Financial
Statements, 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.

20.6. Based on such audit procedures, that have been considered
reasonable and appropriate in the circumstances, performed by
us, nothing has come to our notice that has caused us to believe
that the representation under sub clause (i) and (ii) of Rule 11(e),
as provided under para 20.4 and 20.5 above, contain any material
misstatement.

20.7. In our opinion and according to the information and explanations
given to us, the dividend declared and / or paid during the year by
the Company is in compliance with Section 123 of the Act.

20.8. Based on our examination which included test checks, the
company has used accounting softwares for maintaining its
books of account which have 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.

Additionally, the audit trail has been preserved by the
Company in accordance with the statutory requirements for
record retention from the date they were enabled in earlier years.

For KKC & Associates LLP
Chartered Accountants

(formerly Khimji Kunverji & Co LLP)
Firm Registration Number: 105146W/
W100621

Kamlesh R Jagetia
Partner

Place: Mumbai ICAI Membership No: 139585

Date: 21 May 2026 UDIN: 26139585TOQBVQ5098