We have audited the accompanying standalone financial
statements of MosChip Technologies Limited ('the
Company'), which comprise the Standalone Balance
Sheet as at 31^st March 2025, 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 then
ended, and notes forming part of Standalone financial
statements, including a summary of material accounting
policies and other explanatory information (hereinafter
referred to as 'the Standalone Financials Statements').

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
accounting principles generally accepted in India, of the
state of affairs of the Company as at 31^st March 2025 and
total comprehensive income (comprising profit and other
comprehensive income), statement of changes in equity
and its cash flows for the year then ended.

Basis for opinion

We conducted our audit of the Standalone Financial
Statements in accordance with the Standards on
Auditing (SAs) 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 made thereunder, and we have
fulfilled our other ethical responsibilities in accordance
with these requirements and the ICAI's 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.

Key audit matters

Key audit matters ('KAM') are those matters that, in our
professional judgment, were of most significance in our
audit of the Standalone Financial Statements of the current
period. 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.
We have fulfilled the responsibilities described in the
Auditor's responsibilities for the audit of the standalone
financial statements section of our report, including in
relation to these matters.

Accordingly, our audit included the performance of
procedures designed to respond to our assessment of
the risks of material misstatement of the standalone
financial statements. The results of our audit procedures,
including the procedures performed to address the
matters below, provide the basis for our audit opinion on
the accompanying standalone financial statements.

Other Information

The Company's Board of Directors are responsible for
the preparation of the other information. The other
information comprises the information included in the
Board's Report, Management Discussion and Analysis,
Business Responsibility and sustainability Report,
Corporate Governance,Shareholder's information and
including Annexures to Board'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 do 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 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.

If, based on the work we have performed on the other
information that we obtained prior to the date of this
auditor's report, 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.

When we read the additional information, as mentioned
above, that would be included in 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 actions
as applicable under the relevant laws and regulations.

Responsibilities of Management and those
charged with Governance for the Financial
Statements

The Company's Board of Directors are 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 other comprehensive
income, changes in equity and cash flows of the Company
in accordance with the Indian Accounting Standards
('Ind AS') specified under section 133 of the Act and other
accounting principle generally accepted in India. 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.

In preparing the Standalone Financial Statements
management and 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 of the company are responsible for
overseeing the Company's financial reporting process

Auditor's Responsibilities for the Audit of the
Standalone Financial Statements

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.

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

Ý 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 controls.

Ý 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 with reference
to standalone financial statements in place and the
operating effectiveness of such controls.

Ý Evaluate the appropriateness of accounting policies
used and reasonableness of accounting estimates and
related disclosures made by management.

Ý 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.

Ý 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.

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.

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

1) 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 'Annexure-A' a statement on the
matters specified in paragraphs 3 and 4 of the Order.

2) As required by Section 143(3) of the Act, based on our
audit 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. I n 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, except for the matters stated in
paragraph 2(i)(vi) below on reporting under Rule
11(g) of the Companies (Audit and Auditors) Rules,
2014 as amended.

c. The standalone balance sheet, the statement of
profit and loss including other comprehensive
income, the statement of changes in equity
and the statement of cash flows 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 Ind AS 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 31^st March 2025
taken on record by the Board of Directors, none of
the directors is disqualified as on 31^st March 2025
from being appointed as a director in terms of
Section 164 (2) of the Act.

f. With respect to the maintenance of accounts and
other matters connected therewith, reference is
made to other remarks paragraph 2(b) above on
reporting under section 143(3)(b) and paragraph
2(i)(vi) below on reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014 (as
amended).

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

h. With respect to the other matters to be included
in the Auditor's Report in accordance with the
requirements of section 197(16) of the Act, as
amended, in our opinion and to the best of our
information and according to the explanations
given to us, the remuneration paid by the
Company to its directors during the year is in
accordance with the provisions of section 197 of
the Act.

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 has disclosed the impact
of pending litigations on its financial
position in its Standalone Financial
Statements. Refer Note. 32 to the Standalone
Financial Statements.

ii. The Company didn't have any long-term
contracts including derivative contracts
for which there were any material
foreseeable losses.

iii. There are no amounts required to be
transferred to the Investor Education and
Protection Fund (IEPF) by the Company as
no dividends are declared by the Company.
Hence there are no delays in transfer of
amounts to IEPF.

iv. a. The management has represented

that, to the best of its knowledge and
belief, no funds (which are material
either individually or in the aggregate)
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 or entity, including
foreign entity ("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 its knowledge and
belief, no funds (which are material
either individually or in the aggregate)
have been received by the Company
from any person or entity, including
foreign entity ("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;

c. Based on the audit procedures that
have been considered reasonable
and appropriate in the circumstances,
nothing has come to our notice that
has caused us to believe that the
representations under sub-clause
(i) and (ii) of Rule 11(e), as provided
under (a) and (b) above, contain any
material misstatement.

v. No dividend is declared or paid during the
year by the Company and accordingly,
compliance with section 123 of the Act is not
applicable to the Company.

vi. Based on our examination, which included
test checks, the Company has used
accounting software for maintaining its
books of account for the financial year
ended March 31, 2025 which have the 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.