We have audited the accompanying standalone financia
Statements of FiLatex India Limited (‘the Company’),
which comprise the BaLance Sheet as at March 31,
2025, the Statement of Profit and Loss (including other
comprehensive income), the Cash FLow Statement,
the Statement of Changes in Equity for the year ended
on that date and notes to the StandaLone FinanciaL
Statements incLuding the summary of the materiaL
accounting poLicies and other expLanatory information
(hereinafter referred to as 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 (“the Act”) in
the manner so required and give a true and fair view
in conformity with the Companies (Indian Accounting
Standards) RuLes, 2015, as amended, (“IND AS”) and
other accounting principLes generaLLy accepted in India,
of the state of affairs of the Company as at March

31, 2025, and its profit, totaL comprehensive Income,
changes in equity 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 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 Companies Act, 2013 and the RuLes thereunder,
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 opinion on the standaLone financiaL statements.

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 of the current period. These matters were 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 these matters. We have determined the matters described beLow to be the key audit matters to be
communicated in our report.

Other Information

The Company’s Board of Directors is responsible for 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 Report, Corporate
Governance and Shareholder’s Information, but does
not incLude the standaLone financial statements and our
auditor’s report thereon. The above-mentioned report
is expected to be made avaiLabLe to us after the date of
this auditor's report.

Our opinion on the standaLone financiaL statements does
not cover the other information and we wiLL 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 identified above when it becomes avaiLabLe
and, in doing so, consider whether the other information
is materiaLLy inconsistent with the standaLone financiaL
statements or our knowLedge obtained in the audit, or
otherwise appears to be materiaLLy misstated.

When we read the AnnuaL Report, if we concLude that
there is a materiaL misstatement therein, we are required
to communicate the matter to those charged with
governance.

Management's Responsibility 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 (‘the Act’) with respect to the preparation of these
standaLone financiaL statements to give a true and fair
view of the financiaL position, financiaL performance
(incLuding other comprehensive income), cash flows and
changes in equity of the Company in accordance with
the accounting principLes generaLLy accepted in India,
incLuding the Indian Accounting Standards specified
in the Companies (Indian Accounting Standards)

RuLes, 2015 (as amended) 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 of the assets of
the Company and for preventing and detecting frauds
and other irreguLarities; seLection and appLication of

appropriate accounting poLicies; makingjudgments
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 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,
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 is responsibLe for overseeing the
Company’s financiaL reporting process.

Auditor's Responsibility 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
skepticism throughout the audit. We aLso:

• 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.

• Obtain an understanding of internaL financiaL
controLs 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 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 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.

• 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 financiaL statements that, individuaLLy or in
aggregate, makes it probabLe that the economic
decisions of a reasonabLy knowLedgeabLe user of
the 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 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 Section 143(3) of the Act, based on

our audit 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 Other
Comprehensive Income, StandaLone Statement
of Changes in Equity and the StandaLone
Statement of Cash FLow deaLt with by this
Report are in agreement with the reLevant
books of account.

d) In our opinion, the aforesaid StandaLone
financiaL statements compLy with the Ind AS
specified under 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 as on March 31,
2025 and taken on record by the Board of
Directors, none of the directors is disquaLified
as on March 31, 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 and the operating effectiveness
of such controLs, refer to our separate Report
in “Annexure A”. Our report expresses an
unmodified opinion on the adequacy and
operating effectiveness of the Company’s
internaL financiaL controLs over financiaL
reporting with reference to StandaLone
FinanciaL Statements.

g) In our opinion and to the best of our
information and according to the expLanations
given to us, the manageriaL remuneration for
the year ended 31^st March 2025 has been paid/
provided by the Company to its directors is in
accordance with the provisions of Section 197
read with ScheduLe V to 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-
Refer Note-42(i) A & C to the standaLone
financiaL statements.

ii. The Company has made provision,
as required under the appLicabLe Law
or accounting standards, for materiaL
foreseeabLe Losses, if any, on Long-term
contracts incLuding derivative contracts.

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

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, 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
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, 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;

(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 that the
representations under sub-cLause

(i) and (ii) of RuLe 11(e), as provided
under (a) and (b) above, contain any
materiaL misstatement.

v. (a) The dividend proposed in the

previous year, decLared and paid by
the Company during the year is in
accordance with Section 123 of the
Act, as appLicabLe.

the same has operated throughout the
year for aLL reLevant transactions recorded
in the software. Further, during the course
of our audit we did not come across any
instance of the audit traiL feature being
tampered with and the audit traiL has
been preserved by the Company as per
the Statutory requirements for record
retention.

2. As required by the Companies (Auditor’s Report)
Order, 2020 (“the Order”) issued by the CentraL
Government in terms of Section 143(11) of the Act,
we give in “Annexure B” a statement on the matters
specified in paragraphs 3 and 4 of the Order.

For R N MARWAH & Co LLP For ARUN K GUPTA & ASSOCIATES

Chartered Accountants Chartered Accountants

Firm Registration No.:001211N/N500019 Firm Registration No.: 000605N

SUNIL NARWAL GIREESH KUMAR GOENKA

Partner Partner

Membership No.:511190 Membership No.: 096655

UDIN: 25511190BMLXZE8015 UDIN: 25096655BMOWJW8197

Place: New DeLhi Place: New DeLhi

Date: 23/04/2025 Date: 23/04/2025