We have audited the accompanying financial statements
of GO DIGIT GENERAL INSURANCE LIMITED ("the
Company”), which comprise the Balance Sheet as at
March 31, 2026, the Revenue Accounts of fire, marine
and miscellaneous insurance (collectively known as the
‘Revenue Accounts’), the Profit and Loss Account and
the Receipts and Payments Account for the year then
ended, the schedules annexed thereto, a summary of
the significant accounting policies and other explanatory
notes thereon (hereinafter referred to as the "financial
statements”).

In our opinion and to the best of our information and
according to the explanations given to us, we report
that the aforesaid financial statements, prepared
in accordance with the requirements of Accounting
Standards as specified under Section 133 of the
Companies Act, 2013 (the ‘Act’) read with the Companies
(Accounting Standards) Rules, 2021 as amended
(‘Accounting Standards’) and other accounting principles
generally accepted in India, including relevant provisions
of the Insurance Act, 1938, the Insurance Regulatory and
Development Authority of India Act, 1999 (the "IRDAI
Act”) and other accounting principles generally accepted
in India, to the extent considered relevant and appropriate
for the purpose of these financial statements and which
are not inconsistent with the accounting principles as
prescribed in the Insurance Regulatory and Development
Authority (Actuarial, finance and investment functions
of insurers) Regulations, 2024 (the "Regulations”) and
orders/directions/circulars issued by the Insurance
Regulatory and Development Authority of India ("IRDAI”
/ "Authority”), to the extent applicable ("Applicable
Accounting Framework”), give a true and fair view in
conformity with the accounting principles generally
accepted in India as applicable to insurance companies:

a. in the case of the Balance Sheet, of the state affairs
of the Company as at March 31, 2026;

b. in the case of the Revenue Accounts, of the operating
profit/surplus in the Fire business, Marine business
and Miscellaneous businesses for the year ended on
that date;

c. in the case of the Profit and Loss Account, of the
profit for the year ended on that date; and

d. i n the case of the Receipts and Payments Account,
of the receipts and payments 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
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 together with the ethical requirements that is
relevant to our audit of the financial statements under
the provisions of the Act and the Rules made 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.

Key audit matters

Key audit matters are those matters that, in our
professional judgment, were of most significance in our
audit of the financial statements of the current period.
These matters were addressed in the context of our audit
of the financial statements as a whole, and in forming
our opinion thereon, and we do not provide a separate
opinion on these matters. For each matter below, our
description of how our audit addressed the matter is
provided in that context.

We have determined the matters described below to be
the key audit matters to be communicated in our report.
We have fulfilled the responsibilities described in the
Auditor’s responsibilities for the audit of the financial
statements section of our report, including in relation
to these matters. Accordingly, our audit included the
performance of procedures designed to respond to our
assessment of the risks of material misstatement of the
financial statements. The results of our audit procedures,
including the procedures performed to address the
matters below, provide the basis for our audit opinion on
the accompanying financial statements.

If we identify such material inconsistencies or apparent
material misstatements, we are required to determine
whether there is a material misstatement of the other
information. 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 confirm that we have nothing material to report, add
or draw attention to in this regard.

Responsibilities of the Management and
Those charged with governance for the
financial statements:

The Company’s Management and Board of Directors are
responsible for the matters stated in Section 134(5) of
the Companies Act, 2013 ("the Act”) with respect to the
preparation of these financial statements that give a true
and fair view of the financial position, underwriting results,
financial performance and cash flows of the Company in
accordance with the Applicable Accounting Framework.

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 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, management
and board of directors are 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 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 assurance, but it 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 aggregate, that 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 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 an 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
and board of directors 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 ability of the Company 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.

• 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.

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 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.

Other Matters

The actuarial valuation of liabilities in respect of Incurred
But Not Reported (the "IBNR”), Incurred But Not Enough
Reported (the “IBNER”) and Premium Deficiency Reserve
(the “PDR”) is the responsibility of the Company’s
Appointed Actuary (the “Appointed Actuary”). The
actuarial valuation of these liabilities, which are estimated
using statistical methods as at March 31, 2026 has been
duly certified by the Appointed Actuary and in his opinion,
the assumptions considered by him for such valuation
are in accordance with the guidelines and norms issued
by the IRDAI and the Institute of Actuaries of India in
concurrence with the IRDAI. We have relied upon the
Appointed Actuary’s certificate in this regard for forming
our opinion on the valuation of liabilities for outstanding
claims reserves and the PDR contained in the financial
statements of the Company.

Report on Other Legal and Regulatory
Requirements

1. As required by the IRDAI Financial Statements
Regulations, we have issued a separate certificate
dated 28 April 2026 certifying the matters specified
in paragraphs 3 and 4 of Part III of Schedule II to the
IRDAI Financial Statements Regulations.

2. As required by paragraphs 1 and 2 of Part III of
Schedule II to the IRDAI Financial Statements
Regulations read with Section 143(3) of the Act, in
our opinion and according to the information and
explanations give to us, we report, to the extent
applicable, 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 of the accompanying
financial statements and those have been
found satisfactory.

b) 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
of accounts;

c) As the Company’s accounts are centralized and
maintained at the corporate office, no returns
for the purposes of our audit are prepared at the
branches and other offices of the Company as
required under Section 143(8) of the Act;

d) The Balance Sheet, the Revenue Accounts, the
Profit and Loss Account and the Receipts and
Payments Account dealt with by this report are
in agreement with the books of account.

e) The accounting polices selected by the Company
are appropriate and such accounting policies
and the aforesaid financial statements comply
with the applicable Accounting Standards
specified under Section 133 of the Act read with
the Companies (Accounting Standards) Rules,
2021 and other accounting principles generally
accepted in India read with and which are not
inconsistent with the accounting principles
prescribed in the IRDAI Financial Statements
Regulations, the Insurance Act, IRDAI Act and
circulars/orders/directions issued by IRDAI in
this regard;

f) I nvestments have been valued in accordance
with the provisions of the Insurance Act, the
Investment Regulations and orders/directions
issued by IRDAI in this regard.

g) On the basis of the written representations
received from the directors for the year ended
March 31, 2026, taken on record by the Board
of Directors, none of the directors is disqualified
as on March 31, 2026 from being appointed as a
director in terms of Section 164 (2) of the Act.

h) With respect to the adequacy of the internal
financial controls with reference to the financial
reporting of the Company and the operating
effectiveness of such controls, refer to our
separate Report in "Annexure A”.

i) 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 has disclosed the impact
of pending litigations on its financial
position in its financial statements - Refer
Note 3, Note 30 in Schedule 16 to the
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. The Company did not have any
outstanding long-term derivative contracts
- Refer Note no. 31 in Schedule 16 to the
financial statements and "Other Matter”
para above.

iii. During the year there were no amounts
required to be transferred to the Investor
Education and Protection Fund by the
Company - Refer Note 32 in Schedule 16 to
the financial statements; and

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.
- Refer Note 41 in Schedule 16 to the
financial statements

v. The Company has neither proposed nor
paid any interim or final dividend during the
year. Therefore, reporting on compliance
with section 123 of the Act does not arise.

vi. As stated in Note 40 to the financial
statements and relying on representations/
explanations from the company and
software vendor and based on our
examination which included test checks on
the software applications, the company has
used software applications for maintaining
its books of account which has a feature of
recording audit trail (edit log) facility and
the same has been operated throughout the
year for all relevant transactions recorded
in the respective software applications.
During the course of our audit we did not
come across any instance of audit trail
feature being tampered with.