XT Global Infotech Ltd Auditor Reports

To the Members of M/s XTGlobal Infotech Limited Report on the Audit of the Standalone Financial Statements

Opinion

1. We have audited the accompanying standalone inancial statements of M/s XTGlobal Infotech Limited (“the Company”), which comprise the Balance Sheet as at March 31, 2024, the Statement of Pro it and Loss (including Other Comprehensive Income) and the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date, and a summary of the material accounting policies and other explanatory information (hereinafter referred to as “the standalone inancial statements”).

2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone inancial 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, 2024, the pro it and total comprehensive income, changes in equity and its cash lows for the year ended on that date.

Basis for Opinion

3. We conducted our audit of the standalone inancial statements in accordance with the Standards on Auditing speci ied under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Standalone inancial 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 inancial statements under the provisions of the Act and the Rules made thereunder, and we have ful illed our other ethical responsibilities in accordance with these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained is suf icient and appropriate to provide a basis for our audit opinion on the standalone inancial statements.

Key Audit Matters

4. Key audit matters are those matters that, in our professional judgment, were of most signi icance in our audit of the standalone inancial statements of the current period. These matters were addressed in the context of our audit of the standalone inancial 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.

The key audit matter	How the matter was addressed in our audit
The Companys contracts with customers include contracts provision of IT services. The Company derives revenues from IT services comprising software development and related services, maintenance, consulting and package implementation, platforms across the Companys core and digital offerings. The Company assesses the services promised in a contract and identifies distinct performance obligations in the contract. Identification of distinct performance obligations to determine the deliverables and the ability of the customer to benefit independently from such deliverables involves significant judgement	Our audit procedures included the following.
	i. Obtained an understanding of the systems, processes and controls implemented by the Company for recording revenue.
	ii. On selected samples of contracts with customers, we tested that the revenue recognized is in accordance with the revenue recognition accounting standard including.
	a. Read contract documents for each selection, including master service agreements, timesheets accepted by the customers and other documents that were part of the agreement.
	b. Evaluated the identification of performance obligations and the ascertained transaction price.

5. The Companys Board of Directors is responsible for the other information. The other information comprises the information included in the annual report but does not include the inancial statements and our auditors report thereon. The annual report is expected to be made available to us after the date of this auditors report.

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

When we read the annual report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance and take appropriate action as applicable under the relevant laws and regulations.

Managements Responsibility for the Standalone Financial Statements

6. The Companys Board of Directors are responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these standalone inancial statements that give a true and fair view of the inancial position, inancial performance, total comprehensive income, changes in equity and cash lows 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 inancial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone inancial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

7. In preparing the standalone inancial statements, management is responsible for assessing the Companys 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 are responsible for overseeing the Companys inancial reporting process.

Auditors Responsibilities for the Audit of the Standalone inancial statements

8. Our objectives are to obtain reasonable assurance about whether the standalone inancial 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 in luence the economic decisions of users taken on the basis of these standalone inancial statements.

9. 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 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 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 made by management.

Conclude on the appropriateness of managements 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 Companys ability to continue as a going concern.If we conclude that a material uncertainty exists, we are required to draw attention in our auditors 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.

10. Materiality is the magnitude of misstatements in the standalone financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone 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 standalone financial statements.

11. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and signi icant audit indings, including any signi icant de iciencies in internal control that we identify during our audit.

12. 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.

13. From the matters communicated with those charged with governance, we determine those matters that were of most signi icance in the audit of the standalone inancial 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 bene its of such communication.

Report on Other Legal and Regulatory Requirements

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

15. 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 purposes 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, except for matters stated in i (vi) below. c. The Balance Sheet, the Statement of Pro it and Loss including Other Comprehensive Income, the Statement of Cash Flow and the Statement of Changes in Equity dealt with in this report are in agreement with the books of account.

d. In our opinion, the aforesaid Ind AS inancial statements comply with the Indian Accounting Standards speci ied under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e. Based on the Written Representation received from the directors as on March 31, 2024 and taken on record by the Board of Directors, we report that none of the directors are disquali ied as on March 31, 2024 from being appointed as a director in terms of Sub-section 2 of Section 164 of the Act.

f. The modi ication relating to the maintenance of accounts and other matters connected therewith, is as stated in paragraph (b) above.

g. With respect to the adequacy of the internal inancial controls with reference to standalone inancial statements of the Company and the operating effectiveness of such controls, refer to our separate report in “Annexure B”. Our report expresses an unmodi ied opinion on the adequacy and the operating effectiveness of the Companys internal inancial controls with reference to standalone inancial statements.

h. With respect to the other matters to be included in the Auditors 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 current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director by the Company is not in excess of the limit laid down under Section 197 of the Act.

i. With respect to the other matters to be included in the Auditors 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. As informed to us and based on the audit procedures, the Company does not have any pending litigations.

ii. The Company did not have long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii. There are no amounts which are required to be transferred to Investor Education and protection fund.

iv. (i) The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, 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, whether, directly or indirectly lend or invest in other persons or entities identi ied in any manner whatsoever by or on behalf of the company (“Ultimate Bene iciaries”) or provide any guarantee, security or the like on behalf of the Ultimate Bene iciaries.

(ii) The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, 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, whether, directly or indirectly, lend or invest in other persons or entities identi ied in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Bene iciaries”) or provide any guarantee, security or the like on behalf of the Ultimate Bene iciaries; and (iii) Based on the audit procedures performed 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.

v. The Interim dividend declared or paid by the company during the year and until the date of this audit report is in accordance with Section 123 of the Act. vi. Based on our examination which included test checks, the Company has used an accounting software for maintaining its books of account for the year ended March 31, 2024 which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software, except that audit trail was not enabled at database level and for certain master tables at the application level for accounting software to log any direct data changes.

As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per the statutory requirements for record retention is not applicable for the inancial year ended March 31, 2024.

	For C RAMACHANDRAM & CO.,
	Chartered Accountants
	Firm Registration No. 002864S
Place: Hyderabad
Date: May 30, 2024
	Sd/-
	N MADHUSUDAN REDDY
	Partner
	Membership No. 241624
	UDIN: 24241624BKALLY7312

Annexure-A to the Auditors Report

Annexure referred to in paragraph under ‘Report on Other Legal and Regulatory Requirements section of our report of the Independent Auditors Report of even date of M/s XTGlobal Infotech Limited, on the standalone inancial statements for the year ended March 31, 2024.

In terms of the information and explanations sought by us and given by the company and the books and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state the following:

i. (a) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of property, plant and equipment and relevant details of right-of-use of assets. (B) The Company does not have any intangible assets and accordingly paragraph 3(i)(a)(B) of the Order is not applicable to the company. (b)The management has physically veri ied the Property, Plant and Equipment at regular intervals. There were no material discrepancies noticed on such veri ication.

(c) Based on the examination of the registered sale deed/ transfer deed provided to us, we report that, the title deeds of all the immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the Company) disclosed in the inancial statements included in property, plant and equipment and capital work-in-progress are held in the name of the Company as at the balance sheet date. Immovable properties of land whose title deeds have been pledged as security for loans, guarantees etc., are held in the name of the Company based on the con irmations directly received by us from lenders.

(d) During the year, the company has not revalued its Property, Plant and Equipment (including Right of Use assets) or intangible assets or both. Thus, paragraph 3(i)(d) of the Order is not applicable to the company.

(e) As informed to us, no proceedings have been initiated or are pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder. Thus, paragraph 3(i)(e) of the Order is not applicable to the company.

ii. (a) The Company is rendering software and related consultancy services. Accordingly, it does not hold any physical inventories. Thus, paragraph 3(ii)(a) of the Order is not applicable to the Company.

(b) According to the information and explanations given to us, the Company has been sanctioned working capital limits not exceeding Rs. 5 crores, in aggregate, at points of time during the year, from banks or inancial institutions on the basis of security of current assets hence this clause is not applicable.

iii. (a) The Company has not made investments, not provided guarantee or security and not granted unsecured loans to companys irms, Limited Liability Partnerships or any other parties during the year, Thus, paragraph 3(iii)(c) to (f) of the Order is not applicable. The Company has not provided any advances in the nature of loans to any to other entity during the year.

(b) The investments made during the year are, in our opinion, prima facie, not prejudicial to the Companys interest.

iv. According to the information and explanations given to us, the Company has complied with the provisions of Sections 185 the Companies Act, 2013, and in respect of grant of loans, making investments and providing guarantees and securities the provisions of Section186 of the Act are not applicable to the Company.

v. The company has not accepted any deposits, within the meaning of provisions of Sections 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the rules framed there under. Thus, paragraph 3(v) of the Order is not applicable to the company. vi. The maintenance of cost records has not been speci ied by the Central Government under section 148(1) of the Companies Act, 2013 for the business activities carried out by the Company. Thus, reporting under clause 3(vi) of the order is not applicable to the Company.

vii. (a)According to the information and explanations given to us and the records of the companies examined by us, in our opinion, the company is regular in depositing the undisputed statutory dues including Goods and Services Tax, Provident Fund, Employees State Insurance, Income-tax and other material statutory dues as applicable with the appropriate authorities. There were no undisputed amounts payable in respect of Provident Fund, Employees State Insurance, Income-tax, Goods and Services Tax, and other material statutory dues in arrears as at March 31, 2024 for the period of more than six months from the date they became payable.

(b)According to the information and explanations given to us and the records of the Company examined by us, there are no statutory dues referred in clause (a) above, which have not been deposited on account of any dispute.

viii. As informed to us and based on the records examined by us, during the year no tax assessments under the Income Tax Act, 1961 was carried on by the company. Thus, reporting under clause 3(viii) of the order is not applicable to the Company.

ix. (a) In our opinion, the Company has not defaulted in repayment of loans or other borrowing or in the payment of interest thereon to any lender.

(b) The Company has not been declared willful defaulter by any bank or inancial institution or government or any government authority.

(c) To the best of our knowledge and belief, in our opinion, term loans availed by the Company were applied by the Company during the year for the purposes for which the loans were obtained.

(d) On an overall examination of the inancial statements of the Company, funds raised on short-term basis have, prima facie, not been used during the year for long-term purposes by the Company.

(e) On an overall examination of the inancial statements of the Company, the Company has not taken funds from any entity or person on account of or to meet the obligations of its subsidiaries.

(f) The Company has not raised loans during the year on the pledge of securities held in its subsidiaries.

x. (a) The company has not raised any moneys by way of initial public offer or further public offer (including debt instruments) during the reporting period. Thus, reporting under clause 3(x)(a) of the order is not applicable to the Company.

(b) During the year the Company has not made any preferential allotment or private placement of shares or convertible debentures (full or partly or optionally) and hence reporting under clause 3(x)(b) of Order is not applicable.

xi. (a) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Company or no fraud on the Company has been noticed or reported during the year. Thus, reporting under clause 3(xi) of the order is not applicable to the company.

(b) To the best of our knowledge, no report under sub-section (12) of Section 143 of the Companies Act has been iled in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government, during the year and up to the date of this report.

(c) As represented to us by the Management, there were no whistle blower complaints received by the Company during the year and upto the date of this report.

xii. In our opinion, the company is not a Nidhi Company. Accordingly, paragraph 3(xii) of the Order is not applicable for the company. xiii. In our opinion and according to information and explanations given to us, all transactions with the related parties are in compliance with Sections 177 and 188 of Companies Act, 2013 and the details of such transactions have been disclosed in the Ind AS Financial statements of the company as required by applicable Accounting Standards.

xiv. (a) The company has an internal audit system commensurate with the size and nature of its business;

(b) We have considered the reports of the Internal Auditors for the period under audit.

xv. In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non-cash transactions with its directors or persons connected with its directors and hence provisions of Section 192 of the Companies Act, 2013 are not applicable to the Company.

xvi. (a) In our opinion, the company is not required to be registered under section 45IA of Reserve Bank of India Act 1934. Thus, paragraph 3(xvi)(a) of the Order is not applicable to the company.

(b) In our opinion, the company has not conducted any Non-Banking Financial or Housing Finance activities. Thus, paragraph 3(xvi)(b) of the Order is not applicable to the company.

(c) In our opinion, the company is not a Core Investment Company (CIC). Thus, paragraph 3(xvi)(c) of the Order is not applicable to the company.

(d) In our opinion, the group does not have Core Investment Company (CIC). Thus, paragraph 3(xvi)(d) of the Order is not applicable to the company.

xvii. In our opinion, the company has not incurred cash losses in the inancial year and in the immediately preceding Financial Year.

xviii. During the year, there has been no casual vacancy caused by resignation of the statutory auditors of the company accordingly this clause is not applicable.

xix. On the basis of Financial Ratios, ageing and expected dates of realization of inancial assets and payment of inancial liabilities, other information accompanying the inancial statements, the auditors knowledge of the Board of Directors and management plans, in our opinion there are no material uncertainty exists as on the date of the audit report that company is capable of meeting its liabilities existing at the date of balance sheet as and when they fall duewithin a period of one year from the balance sheet date.

xx. In our opinion and according to the information and explanation given to us, there is no unspent amount under sub-section (5) of section 135 of the Companies Act, 2013 pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

	For C RAMACHANDRAM & CO.,
	Chartered Accountants
	Firm Registration No. 002864S
Place: Hyderabad
Date: May 30, 2024
	N MADHUSUDAN REDDY
	Partner
	Membership No. 241624
	UDIN: 24241624BKALLY7312

Annexure - B to the Auditors Report

Report on the Internal Financial Controls with reference to standalone inancial statements under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

1. We have audited the internal inancial controls with reference to standalone inancial statements of M/s XTGlobal Infotech Limited (“the Company”) as of March 31,2024 in conjunction with our audit of the inancial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

2. The Companys management is responsible for establishing and maintaining internal inancial controls based on the Internal Financial Controls with reference to standalone inancial statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (‘ICAI). These responsibilities include the design, implementation and maintenance of adequate internal inancial controls that were operating effectively for ensuring the orderly and ef icient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable inancial information, as required under the Companies Act, 2013.

Auditors Responsibility

3. Our responsibility is to express an opinion on the Companys internal inancial controls with reference to standalone inancial statements of the company based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal inancial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal inancial controls with reference to standalone inancial statements was established and maintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal inancial controls with reference to standalone inancial statements and their operating effectiveness. Our audit of internal inancial controls with reference to standalone inancial statements included obtaining an understanding of internal inancial controls with reference to standalone inancial statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the inancial statements, whether due to fraud or error.

5. We believe that the audit evidence we have obtained is suf icient and appropriate to provide a basis for our audit opinion on the Companys controls with reference to standalone inancial statements over inancial reporting.

Meaning of Internal Financial Controls with reference to standalone inancial statements

6. A companys internal inancial control with reference to standalone inancial statements is a process designed to provide reasonable assurance regarding the reliability of inancial reporting and the preparation of inancial statements for external purposes in accordance with generally accepted accounting principles. A companys internal inancial control over inancial reporting includes those policies and procedures that:

a. Pertain to the maintenance of records that, in reasonable detail, accurately and fairly re lect the transactions and dispositions of the assets of the company; b. Provide reasonable assurance that transactions are recorded as necessary to permit preparation of inancial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and c. Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the inancial statements.

Inherent Limitations of Internal Financial Controls with reference to standalone inancial statements.

7. Because of the inherent limitations of internal inancial controls with reference to standalone inancial statements, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal inancial controls over inancial reporting to future periods are subject to the risk that the internal inancial control with reference to standalone inancial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

8. In our opinion, to the best of our information and according to the explanations given to us, Company has, in all material respects, an adequate internal inancial controls with reference to standalone inancial statements and such internal inancial controls with reference to standalone inancial statements were operating effectively as at March 31,2024 based on the internal control with reference to standalone inancial statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

	For C RAMACHANDRAM & CO.,
	Chartered Accountants
	Firm Registration No. 002864S
Place: Hyderabad
Date: May 30, 2024
	Sd/-
	N MADHUSUDAN REDDY
	Partner
	Membership No. 241624
	UDIN: 24241624BKALLY7312