We have audited the accompanying statement of Standalone half yearly Financial Results of Ambani Organics Ltd ("the company") for the half year ended 31^st March 2024 ("the statement") and the year-to-date results for the period from 1^st April 2023 to 31^st March 2024, being submitted by the Company pursuant to the requirement of Regulation 33 of The SEB1 (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended ("the listing regulations;').

In our Opinion to the best of our information and according to the explanations given to us, the statement:

i. is presented in accordance with the requirements of Regulation 33 of the SEB1 (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended

ii. Gives a true and fair view in conformity "with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit of other financial information for the halfyear ended 31^st March 2024 and the year-to-date results for the period from 1^st April 2023 to 31^st March 2024.

Basis of Opinion

We conducted our audit in accordance with the standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities "under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We arc 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 results 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/g^~>^A.

Emphasis of Matter

Attention is invited to Note No 46 of the financial statements with respect to fire occurred at the Company's Dahej Factory on 10th February 2024. Till the date of signing, the management is under process of filing the insurance claim with the insurance company towards the assets, inventory destroyed by fire along with loss of profit and has given the effects of insurance claim receivable on the basis of estimated given by the registered agency as appointed by the company. It is pertinent to note that there is an inherent limitation in estimating claim amounts.

Relying expert's certification for claim estimation, Our Opinion is not modified in respect of this matter.

Management Responsibilities for the Standalone Financial Results

These half yearly Standalone financial results have been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in Accounting standard 25 "Interim Financial Reporting”, prescribed under Section 133 of the Act read with relevant rules issued thereunder other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate records in accordance with the provisions of the Act for safeguarding of the Assets of the company and for preventing and detecting frauds and error 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 Standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone financial results, the 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 the Board of Directors either intends to liquidate the company or to ceases the operations, or has no realistic alternative but to do so.

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The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditors' Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Standalone financial results 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 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 results.

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 results, whether due to fraud or error, design and perform audit procedure, 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 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the 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 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 financial results 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 results, including the disclosures and whether the financial results

^reP^resent the underlying transactions and events in a manner that achieves fair

*( nw Ý.« representation.

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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 in 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.

For Shambhu Gupta & Co.

Chartered Accountants FRN No.:- 007234C % .

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CA. Rajkumar Khatod -

Partner

Membership No. 133612 UDIN:- 24133612BKBZVN4498

Place: - Mumbai Dated: - June 3^rd, 2024