We have audited the accompanying Financial Statements of OCTAVIUS PLANTATIONS
LIMITED ("the Company"), which comprise the Balance Sheet as at 31st March, 2025,
the Statement of Profit and Loss (including other comprehensive Income), the Statement
of Changes in Equity and the Statement of Cash Flows for the year then ended, and notes
to the Financial Statements, Including a summary of material accounting policies and
other explanatory information (hereinafter referred to as "Financial Statements'¹).

In our opinion and to the best of our information and according to the explanations given
to us, the aforesaid Financial Statements give rhe information required by the Companies
Act, 2013 (the "Act") in the manner so required and give a true and fair view in
conformity with Indian Accounting Standards specified under section 133 of the Act read
with the Companies (Ind^:an Accounting Standards) Rules, 2015, as amended and other
accounting principles generally accepted in India, of the state of affairs of the Company
as at 31" March, 2025, Its profit (Including Other Comprehensive Income), changes in
equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the 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 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
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 arid
the "ICAl* 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 Financial Statements.

Emphasis of Matter

Ý Bearer plants have not been accounted for in accordance with Ind AS 16 respectively.

* Property, Plant and Equipment register was under updation for financial year ended
31st March, 2025.

Information Other than the Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the other information. The other
information comprises the Information included in the Directors' Report along with Its
Annexures, Management Discussion and Analysis Report and Report on Corporate
Governance but does not Include the Financial Statements and our Auditor's Report
thereon.

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

In connection with our audit of the Financial Statements, our responsibility is to read the
other information as identified above when it becomes available, and in doing so,
consider whether the other information is materially inconsistent with the Financial
Statements or our knowledge obtained during the course of our audit, or otherwise
appears to be materially misstated-

Based on the work we have performed, on the other Information that we obtained prior
to the date of Auditor's report and if we conclude that there is a material misstatement
of this information, we are required to report that fact.

We have nothing to report in this regard-

Responsibilities of Management and Those Charged With Governance for the
Financial Statements

The Company's Board of Directors is responsible forthe matters stated in Section 1 34(5)
of the Act with respect to the preparation of these Financial Statements that give a true
and fair view of the financial position, financial performance, total comprehensive
Income, changes in equity and cash flows of the Company in accordance with the
accounting principles generally accepted in India, Inducting the Indian Accounting
Standards (ind AS) specified under section 133 of the Act. This responsibility also
Indudes 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, 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 unicss the
management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the Company's financial
reporting process.

Auditor's Responsibilities 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 could 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 exercise professional judgment and

maintain professional skepticism throughout the audit. We also:

» Identify and assess the risks of material: misstatement of the 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,

* Obtain an understanding of internal controls relevant to the audit in order to design
audit procedures that are appropriate in the circumstances. Under Section l43(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 the Financial Statements in
place and the operating effectiveness of such controls,

* Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and refated 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 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 Financial Statements,
including the disclosures, and whether the 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.

Ý 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. ¹

Report an Other Legal and Regulatory Requirements

J, As required by the Companies (Auditor's Report) Order, 2020 ('the Order") issued
by the Central Govern merit 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 said Order, to the extent applicable.

2. As required by section 143(3) of the Act, 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) in pur 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;

c) the 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 Financial Statements comply with the Indian
Accounting Standards specified under Section 133 of the Act;

e) on the basis of the written representations received from the directors as on
31¹ March, 2025 and taken on record by the Board of Directors, none of the
directors rs disqualified as on 3T^r 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 with reference to
Financial Statements of the Company and the operating effectiveness of such
controls, refer to our separate report In "Annexure B": and

y) with respect to the other matters to be included in the Auditors' Report in
accordance with the requirements of section 197(16) of the Act, the Company
has complied with the provisions of Section 197 read with Schedule V to the
Act, relating to managerial remuneration,

h) 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, In
apr 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 legations on its financial
position In its Financial Statements, Refer Note 32 to the Financial
Statements;

|j. The Company did not have any long-term contracts including derivative
contracts for which there were any material foreseeable Josses; and

iii. There were no amounts due which were required to be transferred to the
Investor Education ana 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 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, inducting foreign entity (’’Intermediaries''),
with the understanding,, whether recorded in writing or otherwise, that the
Intermediary shall, whether, directly or indirectly tend to or invest in other
persons or entitles 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, tend to or Invest in other persons or entitles identified
in any manner whatsoever by or on behalf of the Funding Party ("Ultimate
Beneficiaries¹') or provide any guarantee, security or the lake 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 chat the representations under sub-clause (I) and
(ii) of Rule 11(e) as provided under (a) and (b) above, contain any material
misstatement.

v. The company has not declared or paid any dividend during the year,

vl Based on our examination, including test checks, the company has utilized
accounting software with an audit trail (edit log) feature for maintaining its
books of account, which has been consistently operated throughout the year
for all relevant transactions. During our audit, we did not find any Instance
of the audit trail feature being tampered with and the audit trail has been
preserved by the company as per statutory requirements for record
retention.

For V. SINGH & ASSOCIATES
Chartered Accountants
Firm Registration No.: 311017E

(D. Pal Choudhury)

place: Kolkata Partner

Date:27th May, 2025 Membership No. 016830

UDIN: 25016830BMJNKG5474

1

From the matters communicated with those charged with governance, we determine
those matters that were of most significance in the audit of the 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,