We have audited the Standalone financial statements of G G ENGINEERING LIMITED ("the Company"), which comprise thebalance sheet as at 31st March, 2025, the statement of Profit and Loss (Including Other Comprehensive Income), statementof changes in equity, and the statement of cash flows for the period then ended, and notes to the Standalone FinancialStatements, including a summary of significant accounting policies and other explanatory informationSubject to the possible impact due to matters reported in other matters para, in our opinion and to the best of our informationand according to the explanations given to us, the aforesaid standalone financial statements give the information requiredby the Companies Act, 2013 ("the Act") in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India, of the state of affairs of the Company as at 31st March 2025, its profitand total comprehensive Profit, changes in equity and its cash flows for the period ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of theCompanies Act, 2013. Our responsibilities under those Standards are further described in the Auditor's Responsibilities forthe Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordancewith the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirementsthat are relevant to our audit of the Standalone Financial Statements under the provisions of the Companies Act, 2013 andthe Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and theCode of Ethics. Except for the documents/information related to matters mentioned in other matters para, we believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Information other than the financial statements and auditors' report thereon
The Company's board of directors is responsible for the preparation of the other information. The other informationcomprises the information included in the Board's Report including Annexures to Board's Report, Business ResponsibilityReport 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 formof 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 orour knowledge obtained during the course of our 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; weare required to report that fact. We have nothing to report in this regard.
Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 ("theAct") with respect to the preparation of these standalone financial statements that give a true and fair view of the financialposition, financial performance, changes in equity and cash flows of the Company in accordance with the accountingprinciples generally accepted in India, including the accounting Standards specified under section 133 of the Act. Thisresponsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Actfor safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selectionand 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 forensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of theStandalone Financial Statements that give a true and fair view and are free from material misstatement, whether due tofraud or error.
In preparing the Standalone Financial Statements, the Board of Directors is responsible for assessing the Company's abilityto continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concernbasis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or hasno 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 Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a whole arefree 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 SAswill always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are consideredmaterial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of userstaken on the basis of these Standalone Financial Statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticismthroughout the audit. We also:
• Identify and assess the risks of material misstatement of the Standalone Financial Statements, whether due tofraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that issufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentionalomissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that areappropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible forexpressing our opinion on whether the company has adequate internal financial controls system in place and theoperating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates andrelated disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based onthe audit evidence obtained, whether a material uncertainty exists related to events or conditions that may castsignificant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertaintyexists, we are required to draw attention in our auditor's report to the related disclosures in the Standalone FinancialStatements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the auditevidence obtained up to the date of our auditor's report. However, future events or conditions may cause theCompany to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Standalone Financial Statements, including thedisclosures, and whether the Standalone Financial Statements represent the underlying transactions and events ina manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing ofthe audit and significant audit findings, including any significant deficiencies in internal control that we identify during ouraudit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirementsregarding independence, and to communicate with them all relationships and other matters that may reasonably be thoughtto 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 mostsignificance in the audit of the Standalone Financial Statements of the current period and are therefore the key auditmatters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about thematter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our reportbecause the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits ofsuch 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 ofIndia in terms of sub-section (11) of Section 143 of the Act, we give in the Annexure-"A" a statement on the mattersspecified in paragraphs 3 and 4 of the Order.
2. As required by Section 143(3) of the Act, we report, to the extent applicable, that:
a) We have sought and obtained all the information and explanations which to the best of our knowledgeand belief were necessary for the purposes of our audit except the information and explanation related tomatters mentioned in other matters para.
b) In our opinion, proper books of account as required by law relating to preparation of the aforesaid StandaloneFinancial Statements have been kept so far as it appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss including other comprehensive income, statement ofchanges in equity and the statement of Cash Flow Statement dealt with by this Report are in agreementwith the relevant books of account maintained for the purpose of preparation of the Standalone FinancialStatements.
d) In our opinion, except as otherwise disclosed in accounting policies and notes to the Standalone FinancialStatements, the aforesaid Standalone Financial Statements comply with the Accounting Standards specifiedunder Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014
e) On the basis of the written representations received from the directors of the Company as on 31st March,2025 taken on record by the Board of Directors of the Company, none of the directors of the company isdisqualified 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 of the Company andthe operating effectiveness of such controls, refer to our separate Report in "Annexure B".
g) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of theCompanies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and accordingto the explanations given to us:
i. The Company does not have pending litigations which would impact its financial position as at 31st
March2025;
ii. The Company did not have any material foreseeable losses on long-term contracts including
derivative contracts.
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 its knowledge and belief, no funds
(which are material either individually or in the aggregate) have been advanced or loaned orinvested (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 anymanner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or provide anyguarantee, 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 Companyfrom 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 behalfof the Funding Party("Ultimate Beneficiaries") or provide any guarantee, security or the like onbehalf of the Ultimate Beneficiaries;
(c) Based on the audit procedures that have been considered reasonable and appropriate inthe circumstances, nothing has come to our notice that has caused us to believe that therepresentations under sub-clause (i) and (ii) of Rule 11(e), as provided under and (b) above,contain any material misstatement.
h) No dividend declared by the company declared or paid by the Company during the year.
i) Based on our examination which included test checks, the Company, has used accountingsoftware for maintaining its books of accounts which has a feature of recording audit trail(edit log) facility for all relevant transactions recorded in the software.
j) With respect to the matter to be included in the Auditors' Report under section 197(16) of theAct:
In our opinion and according to the information and explanations given to us, the remuneration paid by the Company toits directors during the current year is in accordance with the provisions of section 197 read with Schedule V to the Act.
For A K BHARGAV & COChartered AccountantsFRN:034063N
(CA ARUN KUMAR BHARGAV)PROPRIETOR
Place: New Delhi M. No.:548396
Date: 24.05.2025 UDIN: 25548396BMJAVK6192