Sat Kartar Shopping Ltd Auditor Reports

Independent Auditors Examination report on Restated Financial Information of SAT KARTAR SHOPPING LIMITED

To, The Board of Directors

SAT KARTAR SHOPPING LIMITED

1. We have examined the attached restated financial information of " SAT KARTAR SHOPPING LIMITED " (Formerly Known as SAT KARTAR SHOPPING PRIVATE LIMITED) (hereinafter referred to as "the Company" or "the Issuer") comprising the restated statement of assets and liabilities as at 31^st March 2024, 31 March 2023, 31 March 2022, 31 March 2021 restated statement of profit and loss and restated cash flow statement for the financial year ended at 31^st March 2024, 31 March 2023, 31 March 2022 and , 31 March 2021 and the summary statement of significant accounting policies and other explanatory information (collectively referred to as the" restated financial information" or "restated financial statements") annexed to this report and initialed by us for identification purposes. These Restated Standalone Financial Statements have been prepared by the management of the Company and approved by the board of directors at the meeting in connection with the proposed Initial Public Offer in SME Platform ("IPO" or "SME IPO") of NSE Limited ("NSE") of the company.

2. The restated summary statements have been prepared in accordance with the requirements of:

(i) Section 26 of Part I of Chapter III of Companies Act, 2013 (the "Act") read with Companies

(Prospectus and Allotment of Securities) Rules 2014;

(ii) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018 ("ICDR Regulations") and related amendments/clarifications from time to time issued by the Securities and Exchange Board of India("SEBI");

(iii) The Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of Chartered Accountants of India ("Guidance Note")

3. The Companys Board of Directors is responsible for the preparation of the Restated Financial

Statements for inclusion in the Draft Red Herring Prospectus/ Red Herring Prospectus/Prospectus to be filed with Securities and Exchange Board of India ("SEBI"), SME platform of NSE Limited ("NSE") and Registrar of Companies (Ahmadabad, Gujarat) in connection with the proposed IPO.

The Restated Standalone Financial Statements have been prepared by the management of the Company on the basis of preparation stated in Annexure IV to the Restated Standalone Financial Statements. The responsibility of the board of directors of the Company includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Standalone Financial Statements. The boards of directors are also responsible for identifying and ensuring that the Company complies with the Act, ICDR Regulations and the Guidance Note.

4. We have examined such Restated Standalone Financial Statements taking into consideration:

(i) The terms of reference and terms of our engagement letter request in gusto carry out the assignment ,in connection with the proposed SME IPO;

(ii) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI;

(iii) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Statements;

(iv) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the IPO.

5. The Restated Financial Statements of the Company have been compiled by the management from:

(i) Audit for the financial period/year ended on 31^st March 2024, 31 March 2023, 31 March 2022 and, 31 March 2021 was conducted by M/s Nidhi Bansal & Company , Chartered Accountants, Statutory and peer reviewed Auditor. There are no audit qualifications in the audit reports issued by the statutory and tax auditors for the financial period/ year ended on 31^st March 2024, 31 March 2023, 31 March 2022 and , 31 March 2021 which would require adjustments in the Restated Financial Statements of the Company. The financial report included for these period/years is based solely on the report submitted by them.

(ii) We have Re-audited the Financial statements of the company in accordance with applicable standard as required under the SEBI ICDR regulations for the financial period/year ended on 31^st March 2024, 31 March 2023, 31 March 2022 and, 31 March 2021 prepared in accordance with the Indian Accounting Standards (Indian GAAP) which have been approved by the Board of Directors.

(iii) Based on our examination and according to information and explanations given to us, we are of the opinion that the Restated Financial Statements: a) We have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/ reclassifications retrospectively in the financial period/year ended on 31^st March 2024, 31 March 2023, 31 March 2022 and, 31 March 2021

b) do not require any adjustment for modification as there is no modification in the underlying audit reports;

c) there are no extra-ordinary items that need to be disclosed separately in the accounts and requiring adjustments.

d) have been prepared in accordance with the Act, ICDR Regulations and Guidance Note.

e) Adequate disclosure has been made in the financial statements as required to be made by the issuer as per schedule III of the Companies Act, 2013.

f) The accounting standards prescribed under the Companies act, 2013 have been followed.

g) The financial statements present a true and fair view of the companys accounts.

(iv) In accordance with the requirements of the Act including the rules made there under, ICDR Regulations, Guidance Note and engagement letter, we report that:

a) The "Restated Summary Statement of Assets and Liabilities" as set out in

Annexure I to this report, of the Company as 31^st March 2024, 31 March 2023, 31 March 2022 and , 31 March 2021are prepared by the Company and approved by the Board of Directors. These Restated Summary Statement of Assets and Liabilities, have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

b) The "Restated Summary Statement of Profit and Loss" as set out in Annexure II to this report, of the Company for the period ended on 31^st March 2024, 31 March 2023, 31 March 2022 and , 31 March 2021 are prepared by the Company and approved by the Board of Directors. These Restated summary Statement of Profit and Loss have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

c) The "Restated Summary Statement of Cash Flow" as set out in Annexure III to this report, of the Company for the period ended on 31^st March 2024, 31 March 2023, 31 March 2022 and, 31 March 2021 are prepared by the Company and approved by the Board of Directors. These Restated summary Statement of Cash Flow have been arrived at after making such adjustments and regroupings to the individual financial statements of the Company, as in our opinion were appropriate and more fully described in Significant Accounting Policies and Notes to Accounts as set out in Annexure IV to this Report.

(v) We have also examined the following other financial information relating to the Company prepared by the management and as approved by the board of directors of the Company and annexed to this report relating to the Company for the financial year ended on 31^st March 2024, 31 March 2023, 31 March 2022 and , 31 March 2021 proposed to be included in the Draft Red

Herring Prospectus/ Red Herring Prospectus/ Prospectus ("Offer Document").

Annexure No.	Particulars
I	Restated Statement of Assets & Liabilities
I.1	Restated Statement of Notes to Accounts
I.2	Restated Statement of Share Capital
I.3	Restated Statement of Reserves & Surpluses
I.4	Restated Statement of Long-Term Borrowings
I.5	Restated Statement of Short-Term Borrowings
I.6	Restated Statement of Trade Payable
I.7	Restated Statement of Other Current Liabilities
I.8	Restated Statement of Short-Term Provisions
I.9	Restated Statement of Fixed Assets & Depreciations
I.10	Restated Statement of Non-Current Investment
I.11	Restated Statement of Long-Term Loans and Advances
I.12	Restated Statement of Deferred Tax Liabilities/Assets
I.13	Restated Statement of current investments investment in crypto currency
I.14	Restated Statement of Trade Receivable
I.15	Restated Statement of Cash & Cash Equivalent
I.16	Restated Statement of Short-Term Loans and Advances
I.17	Restated Statement of Other Current Assets
I.20	Restated Statement of Inventories
II	Restated Statement of Profit & Loss
II.18	Restated Statement of Revenue from operations
II.19	Restated Statement of Other Income
II.20	Restated Statement of Cost of Material Consumed
II.21	Restated Statement of Employees Benefit Expenses
II.22	Restated Statement of Financial Charges
II.23	Restated Statement of Other Expenses
Other Annexure:
III	Statement of Cash Flow, As Restated
IV	Statement of Accounting & Other Ratios, As Restated
V	Reconciliation between audited profit and restated profit
VI	Contingent Liabilities
VII	Statement of Capitalization, As Restated
IX	Statement of Tax Shelter, As Restated
Note 24	Statement of Earning Per Share
Note 25	Statement of Related Parties & Transaction
Note 26	Statement of Dividend
Note 27	Note on Crypto currency

(vi) We, M/s. Nidhi Bansal & Company , Chartered Accountants have been subjected to the peer review process of the Institute of Chartered Accountants of India ("ICAI") and hold a valid peer review certificate issued by the "Peer Review Board" of the ICAI.

(vii) This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by any other firm of chartered accountants, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

(viii) We have no responsibility to update our report for events and circumstances occurring after the date of the report.

(ix) Our report is intended solely for use of the Board of Directors for inclusion in the Offer Document in connection with the proposed SME IPO. Our report should not be used, referred to, or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior consent in writing.

For Nidhi Bansal & Co.

Chartered Accountants

Sd/-

(Varun Gupta)

(Partner)

Membership No.503070

Audit Firm Reg. No. 022073N

Amber tower, Commercial

Complex Azadpur Delhi 110033

UDIN- 24503070BKDEYM5493

Date: 09.07.2024

Place: New Delhi