We have audited the accompanying standalone
financial statements of Seamec Limited ("the
Company"), which comprise the Standalone Balance
Sheet as at 31^st March 2025, and the Standalone
Statement of Profit and Loss (including Other
Comprehensive Income), the Standalone Statement
of Cash Flows and the Standalone Statement of
Changes in Equity for the year then ended, and notes
to the standalone financial statements, including a
summary of 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 Indian Accounting Standards
prescribed under Section 1 33 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 31 ^st March 2025, and
its profit (including other comprehensive income),
changes in equity and its cash flows for the year ended
on that date.

2. Basis for Opinion

We conducted our audit of the standalone financial
statements in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the
Act. Our responsibilities under those SAs are further
described in the Auditor's Responsibility 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 Act and the Rules made
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 obtained by us is sufficient and
appropriate to provide a basis for our audit opinion on
the standalone financial statements.

3. 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 year. 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.

4. information Other than the Standalone
Financial Statements and Auditor’s Report
thereon

The Company's Management and Board of Directors
are responsible for the other information. The other
information comprises the information included in
Company's Annual Report, but does not include the
standalone financial statements and our auditor's
report thereon. The Company's Annual 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 do not
and 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 and, in doing so, consider whether
the other information is materially inconsistent with the
standalone financial statements or our knowledge
obtained during our audit, or otherwise appears to be
materially misstated. If, based on the work performed,
we conclude that there is a material misstatement of
this other information, we are required to report that
fact.

5. Responsibilities of Management and the
Board of Directors for the Standalone Financial
Statements

The Company's Management and Board of Directors
are 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 state of affairs, profit (including other
comprehensive income), changes in equity and cash
flows of the Company in accordance with the Ind AS
and other accounting principles generally accepted
in India. 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 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, the
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.

6. Auditors’ 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 auditors' 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
control 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 with reference to standalone
financial statements 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 in
the standalone financial statements made by
the Management and Board of Directors.

• 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
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 auditors' 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.

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 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.

7. Report on Other Legal and Regulatory
Requirements

a. As required by the Companies (Auditors' Report) Order,
2020 ("the Order") issued by the Central Government
of India in terms of Section 143(11) of the Companies
Act, 2013, we give in the “Annexure A”, a statement
on the matters specified in paragraphs 3 and 4 of the
Order, to the extent applicable.

b. As required by Section 143(3) of the Act, we report
that:

i. 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.

ii. 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 expect for the matters stated in para viii
(e) below on reporting under rule 1 1 (g) of the
Companies (Audit and Auditors Rules, 2014).

iii. 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 Cash Flow Statement dealt with by

this Report are in agreement with the books of
account.

iv. In our opinion, the aforesaid standalone financial
statements comply with the Indian Accounting
Standards specified under Section 133 of the
Act read with the Companies (Indian Accounting
Standards) Rules, 2015, as amended.

v. On the basis of the written representations
received from the directors as on 31 ^st March,
2025 taken on record by the Board of Directors,
none of the directors are disqualified as on 31^st
March, 2025 from being appointed as a director
in terms of Section 164 (2) of the Act.

vi. With respect to the adequacy of the internal
financial controls with reference to standalone
financial statements of the Company and the
operating effectiveness of such controls, refer to
our separate Report in "Annexure B".

vii. The modification relating to the maintenance of
accounts and other matters connected therewith
are as stated in paragraph (b) above on reporting
under section 1 43(3)(b) and paragraph viii(e)
below on reporting under rule 11(g).

viii. 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,
201 4, as amended, in our opinion and to the
best of our information and according to the
explanations given to us:

a. The Company has disclosed the impact of
pending litigations on its financial position in its
standalone financial statements - Refer Note 40
of standalone financial statements;

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

c. There were no amounts which were required
to be transferred to the Investor Education and
Protection Fund by the Company.

d. (i) The Management has represented that,

to the best of its knowledge and belief,
Other than as disclosed in note 55(b) no
funds 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(s) or entity(ies), including
foreign entities ("Intermediaries"), with the
understanding, whether recorded in writing
or otherwise, that the Intermediary shall,
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.

(ii) Management has represented, that, to the
best of its knowledge and belief, no funds
have been received by the company
from any person(s) or entity(ies), including
foreign entities ("Funding Parties"), with the
understanding, whether recorded in writing
or otherwise, that the company shall,
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; and

(iii) Based on such audit procedures performed
and information and explanation given,
nothing has come to our notice that has
caused us to believe that the representations
under sub-clause (i) and (ii) contain any
material mis-statement.

e. Based on the audit procedures performed
that have been considered reasonable and
appropriate in the circumstances by us, which
includes test checks, the Company has used
ERP as its accounting software for maintaining its
books of account which has a feature of recording
audit trail (edit log) facility and that has operated
throughout the financial year for all relevant
transactions recorded in the said software except
that the audit trail (edit log) feature has option of
disabled or enabled throughout the year. During
the course of performing our procedures, we
did not notice any instance of audit trail feature
being disabled and tempered with.

c. With respect to the other matters to be included in
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 informations 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
the Section 197 of the Act.

For T R Chadha & Co LLP

Chartered Accountants
Firm Regn. No: 006711N/N500028

Pramod Tilwani

Place: Mumbai Partner

Date: 27^th May 2025 Membership No. 076650

UDIN:25076650BMJFZA4905