We have audited the accompanying standalone financial statements of
Eveready Industries India Limited ("the Company"), which comprise the
balance sheet as at March 31, 2026, the statement of profit and loss,
(including the statement of other comprehensive income), the statement of
changes in equity and the cash flow statement for the year then ended, and
notes to the standalone financial statements, including a summary of material
accounting policies and other explanatory information (The "standalone
financial 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 ("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 31 March 2026, and its profit and total comprehensive income, changes
in equity and its cash flows for the year ended 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 there under, 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.

Emphasis of Matter

We draw attention to Note 32.1 to the standalone financial statements
which relates to the penalty of ' 17,155.00 Lakhs levied by the Competition
Commission of India for non-compliance with provisions of the Competition
Act 2002, against which an appeal has been filed by the Company with the
National Company Law Appellate Tribunal (NCLAT), New Delhi and stay has
been granted by NCLAT. As per legal advice obtained by the Company, the
amount of penalty cannot be reliably estimated at this stage owing to the
uncertainty of the future outcome of the litigation. Accordingly, no provision
has been made and the same has been disclosed as contingent liability. Our
opinion is not modified in respect of this matter.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were
of most significance in our audit of the standalone financial statements for
the financial year ended March 31, 2026. This matter was 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
this matter. For matter below, our description of how our audit addressed the
matter is provided in that context.

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

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

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 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 accounting
principles generally accepted in India, including the Indian Accounting
Standards (Ind AS) specified under section 133 of the Act read with the
Companies (Indian Accounting Standards) Rules, 2015, as amended. 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 the 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, board of director 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 is 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 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 scepticism 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 control.

Ý 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 system in place and the operating
effectiveness of such controls.

Ý Evaluate the appropriateness of accounting policies used and the
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.

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

(c) The standalone balance sheet, the standalone statement of profit
and loss including the statement of other comprehensive income,
the standalone statement of changes in equity and the standalone
cash flow statement 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 Accounting Standards specified under Section
133 of the Act., read with Companies (Indian Accounting
Standards) Rules, 2015, as amended from time to time;

(e) On the basis of the written representations received from the
directors, taken on record by the Board of Directors, none of
the directors are disqualified as on March 31, 2026 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 standalone financial statements of the
Company and the operating effectiveness of such controls, refer
to our separate Report in "Annexure B". Our report expresses an
unmodified opinion on the adequacy and operating effectiveness
of the Company's internal financial controls with reference to
standalone financial statements.

(g) 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/provided by
the Company to its directors during the year is in accordance with
the provisions of section 197 of the Act.

(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, 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
- Note 32.1 to the standalone financial statements;

II. The Company did not have any long-term contracts including
derivative contracts for which there were any material
foreseeable losses as on March 31, 2026;

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

IV. (a) The management has represented to us that, to the

best of its knowledge and belief, 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 or
entity, 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;

(b) The management has represented to us that, to the
best of its knowledge and belief, no funds have been
received by the company from any person or entity,
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

(c) Based on our audit procedures that are 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 paragraph
2(h) (iv) (a) &(b) above, contain any material mis¬
statement.

V. (a) The final dividend paid by the Company during the
year in respect of the same declared for the previous
year is in accordance with section 123 of the Act to
the extent it applies to payment of dividend.

(b) The Board of Directors of the Company has proposed
dividend for the year, which is subject to the approval
of the Members at the ensuing Annual General
Meeting. The amount of dividend proposed is in
accordance with Section 123 of the Act, as applicable.

V. Based on our examination which included test checks, the
Company, in respect of financial year commencing on 1 April
2025, has used accounting softwares for maintaining its
books of account which has a feature of recording audit trail
(edit log) facility and the same has operated throughout the
year for all relevant transactions recorded in the softwares,
as described in note 32.11 to the standalone financial
statements. Further, during the course of our audit we did
not come across any instance of audit trail feature being
tampered with in respect of the accounting softwares
and the audit trail (edit log) facility has been preserved
by the Company as per the statutory requirements for
record retention.

For Singhi & Co.

Chartered Accountants
Firm Registration Number: 302049E

(Navindra Kumar Surana)

Partner

Place: Kolkata Membership Number: 053816

Date: April 30, 2026 UDIN: 26053816NDGACJ6076