We have audited the accompanying (Standalone) Ind AS Financial statements of Ceeta Industries
Ltd. ("the company") which comprise the Balance Sheet as at 31st March, 2025, the statement of
Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity, Cash
Flow Statement for the year ended, and notes to the Standalone Ind AS 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 Ind AS 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 prescribed under section 133 of the Act read 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, the profit and
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 Ind AS 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 Ind AS 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.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance
in our audit of the standalone Ind AS Financial Statements of the current period. These matters
were addressed in the context of our audit of the standalone Ind AS 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 that there are no key audit matters to communicate in our report.
Information other than the Ind AS 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 Board's Report including Annexures
to Board's Report, Business Responsibility Report but does not include the Ind AS Financial
Statements and our auditor's report thereon.

Our opinion on the Ind AS 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 Ind AS Financial Statements, our responsibility is to read the
other information and, in doing so, consider whether the other information is materially
inconsistent with the standalone Ind AS Financial Statements or our knowledge obtained during
the course of our audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is no 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) Ind AS 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 ) Ind AS

Financial Statements that give a true and fair view of the financial position, financial performance
and cash flows of the company in accordance with the accounting principles generally accepted in
India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7
of the Companies (Accounts) Rules, 2014. 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 Ind AS Financial
Statements that give a true and fair view and are free from material misstatement, whether due to
fraud or error.

Auditor's Responsibility for the audit of the (Standalone) Ind AS Financial Statements

Our responsibility is to express an opinion on these (standalone) Ind AS Financial Statements based
on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the provisions of the Act and
the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section
143(10) of the Act. Those Standards require that we comply with the ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether the Ind AS Financial
Statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the
disclosures in the Ind AS Financial Statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the Ind AS Financial
Statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal financial control relevant to the Company's preparation of the Ind AS Financial Statements
that give a true and fair view in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on whether the Company has in
place an adequate internal financial controls system over financial reporting and the operating
effectiveness of such controls. An audit also includes evaluating the appropriateness of the
accounting policies used and the reasonableness of the accounting estimates made by the
Company's Directors, as well as evaluating the overall presentation of the Ind AS Financial
Statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion on the (Standalone) Ind AS Financial Statements.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2020 ("the Order"), as amended,
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 Order.

2. 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 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 it appears from our examination of those books;

c. the standalone Balance Sheet, the standalone Statement of Profit and Loss, the
standalone statement of changes in equity and the standalone Cash Flow Statement dealt
with by this Report are in agreement with the books of account;

d. In our opinion, the aforesaid (Standalone) Ind AS Financial Statements comply with the
Accounting Standards specified under section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014.

e. On the basis of written representations received from the directors as on March 31,
2025 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 B".

g. With respect to the other matters to be included in the Auditor's Report in accordance
with the requirements of section 197(16) of the Act, as amended: In our opinion and to
the best of our information and according to the explanations given to us, the
remuneration paid by the Company to its directors during the year is in accordance with
the provisions of section 197 of 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, in our opinion and to
the best of our information and according to the explanations given to us:

1. The Company has pending litigations with tax authorities; and the company has disclosed

the impact of pending litigations as at 31st March 2025 on its financial position in its

standalone financial statements - Refer contingent liabilities and commitments disclosed in

Note 29 to the standalone financial statements.

2. The Company did not have any long-term contracts including derivative contracts for which

there were any material foreseeable losses.

3. There were no amounts which were required to be transferred to the Investor Education and

Protection Fund by the Company.

4. (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.

5. The company has not declared or paid any dividend during the year.

6. Based on our examination, which included test checks, the company has used such accounting
software for maintaining its books of account for the financial year ended March 31 2025,
which has a feature of recording audit trail (edit log) facility and the same has been operated
throughout the year for all transactions recorded in the software and the audit trail has been
preserved by the company as per the statutory requirements for record retention. Further,
during the course of our audit we did not come across any instance of the audit trail feature
being tempered with.

7. Based on our examination which included test checks, except for the instance mentioned
below, the Company has used accounting software for maintaining its books of account, which
have a feature of recording audit trail (edit log) facility and the same has operated throughout
the year for all relevant transactions recorded in the respective software.

For the periods where audit trail (edit log) facility was enabled and operated for the respective
accounting software, we observed that the software have a feature to disable it, however 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.

For and on behalf of
G K Tulsyan & Co.

Chartered Accountants

Firm's registration number: 323246E

G K Tulsyan
Partner

Membership number: 050511

Date: 30.05.2025

UDIN:25050511B0EPEE3548