We have audited the accompanying standalone financial statements of KIRAN SYNTEX LTD,
("the Company"), which comprise the Balance Sheet as at March 31, 2025, and the Statement
of Profit and Lossand Cash Flow Statement for the year then ended, and notes to the 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 standalone financial statements give the information required by the Companies
Act, 2013 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
March 31, 2025, and its profit/loss, and its cash flows for the year ended on that date.

Basis for opinion

We conducted 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 company 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.

The Company's Board of Directors are responsible for the matters stated in section 134(5) of
the Companies Act 2013 ("the act') with respect to preparation of these standalone financial
statements that give a true and fair view of the financial position, financial performance
including other comprehensive income, cash flow and changes in equity of the company in
accordance with accounting principles generally acceptable in India, including the accounting
standards specified under section 133 of the act. This responsibility also includes maintenance
of adequate accounting records and audit trailsin accordance with provisions of the act for
safeguarding assets of the company and for preventing and detecting frauds and other
irregularities, selection and applications of, appropriate accounting policies, making judgments
and estimates that are reasonable and prudent, and design implementation and maintenance
of adequate financial internal controls, that were operating effectively for ensuring the
accuracy and completeness of accounting records,relevant to the preparation and presentation
of the financial statements that give a true and fair view and are free from any 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

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. An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the company's preparation of
the financial statements that give a true and fair view in order to design audit procedures that

are appropriate in the financial circumstances but not for the purpose of expressing an opinion
on effectiveness of the company's internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of the accounting
estimates made by management, as well as evaluating the overall presentation of the financial
statements.

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

i. 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.

ii. Report that based on our audit and in our opinion, the internal financial control system in
designed and operating effectively to provide reasonable assurance regarding the reliability
of financial reporting and preparation of financial statements.

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

iv. 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.

v. 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.

vi. 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.

vii. 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.

INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORS' REPORT THEREON

The Company's Board of Directors is responsible for the other information. The other information
comprises the information included in the Annual Report, but does not include the Standalone
Financial Statements and our auditors' 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 such other
information is materially inconsistent with the financial statements or our knowledge obtained in
the 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.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order 2020,('the order') issued by the Central
Government of terms of section 143 (11) of the companies act 2013. We enclose Annexure "A"
statement on the matters specified in paragraph 3 & 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 & explanation which to the best of our
knowledge and belief were necessary for the purpose of our audit;

b) In our opinion, proper books of account as required by law have been kept by the
Company so far as appears from our examination of the books;

c) the Balance Sheet, Statement of Profit and Loss, and 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
(Accounting Standards) Rule 2021.

e) On the basis of written representations received from the directors as on 31st March
2025, and taken on record by the Board of Directors, none of the directors is disqualified
as on 31st March 2025 from being appointed as a director in terms of section 164(2) of
the act.

f) i) The management has represented that, to the best of it's knowledge and belief, other
than as disclosed in the notes to the accounts, 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(s) or entity(ies), 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) The management has represented, that, to the best of it's knowledge and belief,
other than as disclosed in the notes to the accounts, no funds have been received by the
company from any person(s) or entity(ies), 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

(iii) Based on our audit procedures which we have 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) contain any material mis¬
statement."

g) With respect to the adequacy of 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

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 our opinion and to
the best of our information and according to the explanations given to us:

i. The company had not disclosed the impact of pending litigations on its financial
position in its financial statements - Refer Note No.39 to the financial
statements;

ii. The company did not have any long term contracts including derrivative
contracts for which there were any forseable losses

iii. There were no amounts which were required to be transferred to the Investor
Education and Protection. Fund by the company.

iv. No dividend declared or paid during the year by the company.

v. Based on our examination and test checks, the company has used accounting
software for maintaining its books of accounts and the software has a feature of
recording audit trail facility. As represented by the management this facility was
enabled through out the year therefore we are unable to report on this aspects.

for, MM S & ASSOCIATES
Chartered Accountants,
(F.R.No.: 110250W)

DATE :May 22, 2025

PLACE :SURAT

UDIN : 25042831BMMLBF8139

PRAMOD BOTHRA
Partner
M. No.: 42831

1003, Rathi Palace,

Ring Road, Surat 395 002.