We have audited the financial statements of NAGARJUNA AGRI TECH LIMITED ("the Company" ), which comprise
the balance sheet as at 31st March, 2025, 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
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 financial statements give the information required by the Companies Act, 2013("Act') in the manner so
require d 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, 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, and its profit, total comprehensive income, the 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 Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the
Audit of the 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 re levant to our audit of the financial statements under the provisions--of the Act 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 obtain ed is sufficient and appropriate to
provide a basis for our opinion.

Emphasis of matter

We draw attention to Note 27 of the Audited Financial Results for the quarter ending 31st March 2025. The
company has sold a major portion of its Land in the Current and Previous Financial year.

These conditions indicate the existence of a material uncertainty that may cast significant doubt about the
Company's ability to continue as a going concern.

Our Opinion is not modified in this matter.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit
of the financial statements of the current period. These matters were addressed in the context of our audit of
the financial statements, and in forming our opinion thereon, and we do not provide a separate opinion on these
matters.

Other Information

The Company’s management and 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
financial statements and our auditor’s report thereon.

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

When we read the Annual report, if we conclude that there is a material misstatement there in we are required
to communicate the matter to those charged with the governance. We have nothing to report in this regard.

Responsibilities of Management and those charged with governance for the financial statements

The Company's Board of Directors are responsible for the matters stated in Section 134(5) of the Act with respect
to the preparation of these financial statements that give a true and fair view of the financial position, financial
performance including other comprehensive income, cash flows and changes in equity of the Company in
accordance with the accounting principles generally accepted in India, including the accounting Standards
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 financial statement that give a true and fair view and are
free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the 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 the Board of Directors either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so.

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

Auditor’s Responsibilities for the Audit of Financial Statement

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatements, whether due to fraud or error, and to issue an auditor's 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 mate rial 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 bas is of these Ind AS financial statements.

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

• Identify and assess the risks of material misstatement of the 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 control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances. Under section 143(3)( i) of t he Act, we are also responsible for
expressing our opinion on whether the company has adequate internal financial controls system 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 management's use of the going concern basis of accounting
and, based on the audit evidence obtained, 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.
We hereby draw attention in our auditor s report to the related disclosures in the financial
statements i.e. Note no.22 current ratio i.e meeting the short term commitments by the company

is uncertain. However, future events or conditions may change our opinion on the Company's a
going concern

• Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the 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 financial statements of the current period and are therefore
the key audit matters. We describe these matters in our auditor's 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.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's report) Order, 2016 ("the Order" ) 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 sect ion 143(3) of the Act, based on our audit 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;

c) the Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, Statement of
Changes in Equity and the Statement of Cash Flow dealt with by this report are in agreement with the books of
accounts;

d) in our opinion, the aforesaid financial statements comply with the Indian Accounting Standards prescribed
under section 133 of the Act;

e) on the basis of the written representations received from the directors of the Company 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 with reference to financial statements of the
Company and the operating effectiveness of such controls, refer to our separate report in" Annexure B". Our
report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company's internal
financial controls with reference to financial statements;

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. The Ministry of Corporate Affairs has not prescribed other details under section 197(16) which are required
to be commented upon by us.

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

i. the Company has disclosed the impact of pending litigations on its financial position in its financial statements
- Refer Note 26 to the Ind AS financial statements;

ii. the Company did not have any long-term contracts including derivative contracts; as such there were no
material foreseeable losses thereon;

iii. there are no amounts which are required to be transferred to the Investor Education and Protection Fund;
therefore, delay in transferring such sums does not arise.

For S M V & Co.

Chartered Accountants
Firm’s Regn.No. 015630S

R Vamsi Krishna

Proprietor

Membership No. 229292

Place : Hyderabad
Date: 02.05.2025