We have audited the accompanying Standalone Financial Statements of GRETEX CORPORATE
SERVICES LIMITED ("the Company"), which comprise the Standalone Balance Sheet as at 31^st
March, 2026, the Standalone Statement of Profit and Loss (including Other Comprehensive
Income), the Standalone Statement of Changes in Equity, and the Standalone Statement of Cash
Flows for the year ended, and with Notes to the Standalone Financial Statements including a
summary of the Material Accounting Policies and other explanatory information (hereinafter
referred to as "Standalone Financial Statements").

Opinion

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 Indian Accounting Standards specified under section 133 of the Act read with the Companies
(Indian Accounting Standard) Rules, 2015 as amended, ("Ind AS") and other accounting principles
generally accepted in India, of the state of affairs of the Company as at 31^st March, 2026, and 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 Standalone Financial Statements in accordance with the
Standards on Auditing ("the 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 (the
"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 made 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.

Key audit matters are those matters that, in our professional judgement, 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.

Information Other than the Standalone Financial Statements and Auditors' 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 Directors' Report including
Annexures to Directors' Report, Management Discussion and Analysis Report and Report on
Corporate Governance, 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 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
misstate

If, based on the work we have performed on the other information that we obtained prior to the
date of Auditors' report, 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.

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
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,
cash flows and changes in equity 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.

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 judgements and estimates that are reasonable and prudent; and designing,
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 alternatives but to do
so.

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

Auditors' Responsibility for the Audit of 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 auditors' 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 misstatement 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 qualitative 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 auditors'
report unless law or regulation precludes public disclosure about the matters, 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

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 said Order, to the extent
applicable.

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
other comprehensive income, the Standalone Statement of changes in equity and the
Standalone Statement of Cash Flows 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 Indian
Accounting Standards (Ind AS) specified under Section 133 of the Act;

(e) On the basis of the written representations received from the directors as on 31^st March,
2026 taken on record by the Board of directors, none of the directors are disqualified as
on 31^st March, 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 over financial reporting of
the Company and the operating effectiveness of such controls, as required under

Section 143(3)(i) of the Act, refer to our separate report in "Annexure B”.

(g) 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 Auditors' 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. According to the information and explanations given to us, the Company does not
have any pending litigations having an impact on its financial position.

ii. The Company did not have any long-term contracts including derivative contracts
for which there were any material foreseeable losses;

iii. There were no amounts which were 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 to 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 to 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), (a)
and (b) above, contain any material misstatement.

v. As stated in Note 42 to the Standalone Financial Statements

(a)The final 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.

(b)The board of directors of the company has proposed final dividend for the current
year which is subject to the approval of the members at the ensuing Annual General
Meeting. The dividend declared is in accordance with section 123 of the Act to the
extent it applies to declaration of dividend.

vi. Based on our examination, including test checks, the company has used an
accounting software with 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.

Other Matters

The Standalone Financial Statements for the year ended 31^st March, 2026 includes comparative
financial information for the year ended 31^st March, 2025. The financial statement for the year
ended 31^st March, 2025 have been audited by the joint auditors of the company, one of them was
the predecessor audit firm, where they had expressed an unmodified opinion on such statement
on such Standalone Ind AS Financial statement on 16 May, 2025.

Our Opinion is not modified in respect of the above mentioned matter.

For Jay Gupta & Associates For V. Singhi & Associates

Chartered Accountants Chartered Accountants

Firm Regn. No: 329001E Firm Regn. No:311017E

^{(CA Jay Shankar Gupta)} (Aniruddha Sengupta)

^Partner Partner

^{Membership N}°- ⁰⁵⁹⁵³⁵ Membership No.: 051371

^{UDIN: 26059535JXJVKD8752} UDIN:26051371BIQKRP2801

Place: Kolkata
Date: 07-05-2026