1. I have audited the accompanying Ind AS standalone financial statements of REAL ECO-ENERGY
LIMITED ("the Company”), which comprise the Balance Sheet as at 31st March 2025, and the
Statement of Profit and Loss (including other comprehensive income), Statement of Changes in
Equity and Statement of Cash Flows for the year then ended, and notes to the standalone
financial statements, including a summary of significant accounting policies and other
explanatory information ("the Standalone Financial Statements”).

2. In my opinion and to the best of my information and according to the explanations given to
me, the aforesaid standalone Financial Statements give the information required by the
Companies Act, 2013 ("Act”) in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in India, of the state of affairs of
the Company as at 31st March 2025, and its loss and other comprehensive income, changes in
equity and its cash flows for the year then ended.

Basis for Opinion

3. I conducted my audit in accordance with the Standards on Auditing ("SAs”) specified under section
143(10) of the Act. My responsibilities under those SAs are further described in the Auditor's
Responsibilities for the Audit of the standalone Financial Statements section of my report. I am
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 my audit of the standalone Financial Statements under the provisions of the Act, and the rules
thereunder, and I have fulfilled my other ethical responsibilities in accordance with these
requirements and the Code of Ethics. I believe that the audit evidence I have obtained is sufficient
and appropriate to provide a basis for my opinion on the standalone Financial Statements.

Key Audit Matters

4. Key audit matters are those matters that, in my professional judgment, were of most significance
in my audit of the standalone Financial Statements of the current year. These matters were
addressed in the context of my audit of the standalone Financial Statements as a whole, and in
forming my opinion thereon, and I do not provide a separate opinion on these matters. There are
no key audit matters to communicate.

Other Information

5. The Company's Board of Directors are responsible for the other information. The other
information comprises the information included in the Company's annual report, but does not
include the standalone Financial Statements and my auditors' report thereon.

6. My opinion on the standalone Financial Statements does not cover the other information and I do
not express any form of assurance conclusion thereon.

7. In connection with my audit of the standalone Financial Statements, my 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 my knowledge obtained in the audit or
otherwise appears to be materially misstated. If, based on the work I have performed, I conclude
that there is a material misstatement of this other information; I am required to report that fact. I
have nothing to report in this regard.

Management's responsibility for the Standalone Financial Statements

8. The Company's Board of Directors is 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 and other comprehensive income, changes in equity and
cash flows of the Company in accordance with the accounting principles generally accepted in
India, including the Indian accounting standards ("Ind AS”) specified under section 133 of the Act.
This responsibility also includes maintenance of adequate accounting records in accordance with
the provisions of the Act for safeguarding of 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.

9. In preparing the standalone Financial Statements, the management is 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 management either
intends to liquidate the Company or to cease operations, or has no realistic alternative but to do
so.

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

Auditor's responsibilities for the audit of the Standalone Financial Statements

11. My 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 auditor's report that includes my 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.

12. As part of an audit in accordance with SAs, I exercise professional judgment and maintain
professional scepticism throughout the audit. I also:

12.1. 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 my 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.

12.2. Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) the Act, I am
also responsible for expressing my 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.

12.3. Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by themanagement.

12.4. Conclude on the appropriateness of the management's 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 I conclude that a material uncertainty exists, I am
required to draw attention in my auditor's report to the related disclosures in the
standalone Financial Statements or, if such disclosures are inadequate, to modify my
opinion. My conclusions are based on the audit evidence obtained up to the date of my
auditor's report. However, future events or conditions may cause the Company to cease to
continue as a going concern.

12.5. 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.

13. I 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 I identify during my audit.

14. I also provide those charged with governance with a statement that I 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 my independence, and where
applicable, related safeguards.

15. From the matters communicated with those charged with governance, I determine those matters
that were of most significance in the audit of the standalone Financial Statements of the current
year and are therefore the key audit matters. I describe these matters in my auditor's report
unless law or regulation precludes public disclosure about the matter or when, in extremely rare
circumstances, I determine that a matter should not be communicated in my report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.

Report on Other Legal and Regulatory Requirements

16. As required by the Companies (Auditor's Report) Order, 2020 ("the Order”), issued by the Central
Government of India in terms of sub-section (11) of section 143 of the Act, I give in the "Annexure
A"a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent
applicable.

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

17.1. I have sought and obtained all the information and explanations which to the best of my
knowledge and belief were necessary for the purposes of my audit.

17.2. In my opinion, proper books of account as required by law have been kept by the Company
so far as it appears from my examination of those books for the matters stated in the
paragraph 18.8 below, on reporting under Rule 11(g) of the Companies (Audit and Auditors)
Rules, 2014.

17.3. The balance sheet, the statement of profit and loss including other comprehensive income,
the statement of changes in equity and the cash flow statement dealt with by this Report
are in agreement with the books of account.

17.4. In my opinion, the aforesaid standalone Financial Statements comply with the Ind AS
specified under Section 133 of the Act.

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

17.6. 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 my separate Report on internal financials control over financials reporting as per
Annexure-2; and

17.7. 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 my opinion and to the best of my information and according to the explanations given to
me, the remuneration paid by the Company to its directors during the year is in accordance
with the provisions of section 197 of the Act.

17.8. The modifications relating to the maintenance of accounts and other matters connected
therewith are as stated in the paragraph 17.2 above on reporting under section 143(3)(b) of

the Act and paragraph 18.8 below on reporting under Rule 11(g) of the Companies (Audit
and Auditors) Rules, 2014.

18. 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 my opinion and to the best of my

information and according to the explanations given to me:

18.1. The Company does not have any pending litigations which would impact its financial
position.

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

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

18.4. The management has represented that 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 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. Based on reasonable audit procedures adopted by me, nothing has come to
my notice that such representation contains any material misstatement.

18.5. The management has represented that 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 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. Based on reasonable
audit procedures adopted by me, nothing has come to my notice that such representation
contains any material misstatement.

18.6. Based on the audit procedures that have been considered reasonable and appropriate in the
circumstances, nothing has come to my notice that has caused me 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.

18.7. In my opinion and according to the information and explanations given to me, no dividend
has been declared and / or paid during the year by the Company.

18.8. Based on my examination which included test checks and information given to me, the
Company has used accounting software for maintaining its books of account, which has a
feature of recording audit trail (edit log) facility throughout the year for all relevant

transactions recorded in the respective software, Further, during the course of our audit I
did not come across any instance of audit trail feature being tampered with.

Further, the audit trail, to the extent maintained in the prior year, has been preserved by the
Company as per the statutory requirements for record retention.

For N.S. NANAVATI & CO.

Chartered Accountants
FRN: 134235W

(CA NITESH SHIRISHCHANDRA NANAVATI)
Proprietor

Date: 28.05.2025 Membership No.: 143769

Place: Ahmedabad UDIN: 25143769BMSBXK9846