We have audited the accompanying financial statements of
ALUWIND INFRA-TECH LIMITED (Formerly known as Aluwind
Architectural Limited) (“The Company”) which comprises the
Balance Sheet as on 31st March 2025 the Statement of Profit
and Loss and Cash Flow statement for the year ended 31^st March
2025 and notes to financial statements, including a summary
of significant accounting policies and other explanatory
information.

In our opinion and to the best of our information and according to
the explanations given to us, the aforesaid financial statements
give the information required by the Act in the manner so
required and give a true and fair view in conformity with the
accounting principles generally accepted in India, of the state
of affairs of the company as at 31st March 2025 and its profit (or
Loss) and its cash flows for the year 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 the Companies
Act 2013. Our responsibilities under those standards are further
described in the Auditor’s Responsibilities for the Audit of the
Financial Statements section of our report. We are independent
of the entity 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 statements 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.

Key Audit Matters

Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the financial
statements of the current period. These matters were addressed
in the context of our audit of the financial statements as a whole,
and in forming our opinion thereon, and we do not provide a
separate opinion on these matters. We have not determined any
matters to be the key audit matters to be communicated in our
report.

Management’s Responsibility for the Financial Statements:

The Company’s Board of Directors is responsible for the
matters stated in Section 134(5) of the Companies Act, 2013
(‘‘the Act’’) with respect to the preparation and presentation
of these financial statements that give a true and fair view of
the financial position, financial performance and cash flows
of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards
specified under Section 133 of the Act. 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 financial statements that give a true and fair view and are
free from material misstatement, whether due to fraud or error.

In preparing the 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.

The Board of Directors are also responsible for overseeing the
company’s financial reporting process.

Auditor’s Responsibility for the Audit of the Financial
Statements

Our objectives are to obtain reasonable assurance about
whether the 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 reasonably be expected to
influence the economic decisions of users taken on the basis of
these financial statements.

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

• Identify and assess the risks of material misstatement of
the financial statements, whether due to fraud or error; to
design and perform audit procedures responsive to those
risks; and to obtain audit evidence that is sufficient and
appropriate to provide a basis for the auditor’s 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. Under section 143(3)

(i) of the Companies Act, 2013, we are 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 financial statements
or, if such disclosures are inadequate, to modify the
opinion. Our conclusions are based on the audit evidence
obtained up to the date of the auditor’s report. However,
future events or conditions may cause an entity to cease to
continue as a going concern.

• Evaluate the overall presentation, structure and content
of the financial statements, including the disclosures, and
whether the financial statements represent the underlying
transactions and events in a manner that achieves fair
presentation.

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

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 communicate with
them all relationships and other matters that may reasonably
be thought to bear on our independence, and where applicable,
related safeguards.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies (Auditor’s Report), Order,

2020, issued by the Central Government of India in terms
of section 143(11) of the Companies Act, 2013 (hereinafter
referred to as ‘order’), and on the basis of test check as we
considered appropriate and according to information and
explanation provided to us, we enclose in the Annexure “A”
statement on the matters specified in paragraphs 3 and 4 of
the said Order.

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

2.1 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

2.2 In our opinion, proper books of account as required
by law have been kept by the company from our
examination of those books.

2.3 The Balance Sheet, Profit and Loss statement and
Cash Flow Statement dealt with by this report are in
agreement with the books of account.

2.4 In our opinion, the aforesaid financial statements
comply with the accounting standards specified
under section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014

2.5 On the basis of written representations received from
the directors, as on March 31, 2025, taken on record
by the Board of directors, none of the directors are
disqualified as on March 31,2025 from being appointed
as a director under section 164(2) of the Act

2.6 With respect to the adequacy of internal financial
controls over financial reporting of the company and
the operative effectiveness of such controls, refer to
our separate report in “Annexure B”;

2.7 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;

2.8 With respect to the others 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) There were no pending litigations which would
impact the financial position of the company.

(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) (i) As per management representation letter, no

funds other than disclosed by way of notes
to accounts 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 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;

(ii) There were no funds which have been received
by the company from any person(s) or entities,
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

instance of audit trail feature being tampered
with. Our examination of the audit trail was in the
context of an audit of financial statements carried
out in accordance with the Standard of Auditing
and only to the extent required by Rule 11(g) of the
Companies (Audit and Auditors) Rules,2014. We
have not carried out any audit or examination of
the audit trail beyond the matters required by the
aforesaid Rule 11(g) nor have we carried out any
standalone audit or examination of the audit trail.

For R Kejriwal & Co.

Chartered Accountants.

Firm Reg. No. 133558W

Sd/-

KhushbooShah

Partner
M. No. 171607
PAN: AAPFR9048C
UDIN: 25171607BMTENB2692

Place: Surat
Date: 23/05/2025