We have audited the accompanying standalone Ind AS
financial statements of The Peria Karamalai Tea &
Produce Company Limited (“the Company”) which
comprises the Balance Sheet as at 31 March 2025,
the Statement of Profit and Loss (including Other
Comprehensive Income), the 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
standalone Ind AS 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 Ind AS prescribed under
section 133 of the Act read with the Companies (Indian
Accounting Standards) rules 2015, as amended and
other accounting principles generally accepted in India,
of the state of affairs of the Company as at 31 March,
2025, and total comprehensive income (comprising of
profit and other comprehensive income), changes in
equity and its cash flows for the year then ended.

Basis for Opinion

We conducted our audit of the Standalone Ind AS
financial statements in accordance with the Standards
on Auditing (SAs) specified under section 143(10) of
the Companies Act, 2013. Our responsibilities under
those Standards are further described in the Auditor's
Responsibilities for the Audit of the Standalone Ind
AS 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 Ind AS financial statements under the
provisions of the Companies Act, 2013 and the Rules
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 we have obtained is sufficient and appropriate
to provide a basis for our audit opinion on the standalone
financial statements.

Key Audit Matters

Key Audit Matters are those matters that, in our
professional judgement, were of most significance in
our audit of the standalone Ind AS financial statements
of the current period. These matters were addressed
in the context of our audit of the Standalone Ind AS
financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate
opinion on these matters.

Information Other than the Standalone Ind AS
Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the
preparation of other information. The other information
comprises the information included in the Management
Discussion and Analysis, Board’s Report including
Annexures to Board’s Report, Business Responsibility
Report, Corporate Governance and Shareholder’s
Information, but does not include the standalone Ind AS
financial statements and our auditor's report thereon.

Our opinion on the standalone Ind AS 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 standalone Ind AS
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 Ind AS financial statements or our knowledge
obtained during the course of our audit or otherwise
appears to be materially misstated. If, based on the
work we have performed, we conclude that there is a
material misstatement of this other information, we are
required to report that fact. We have nothing to report
in this regard.

Responsibilities of the Management and those
charged with Governance for the Standalone Ind
AS Financial Statements

The Company's Board of Directors is responsible for
the matters stated in section 134(5) of the Companies
Act, 2013 (“the Act”) with respect to the preparation
of these standalone Ind AS financial statements that
give a true and fair view of the financial position,
financial performance, including other comprehensive
income, changes in equity and cash flows of the
Company in accordance with the accounting principles

generally accepted in India, including Indian Accounting
Standards (Ind AS) prescribed under section 133 of
the Act read with the Companies (Indian Accounting
Standards) Rules, 2015, as amended. 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 Ind
AS 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 Ind AS financial statements,
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
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 also responsible for
overseeing the company's financial reporting process.

Auditor's Responsibilities for the Audit of the
Standalone Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about
whether the Standalone Ind AS 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 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 Ind AS
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 Ind AS 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 the Companies Act, 2013, we are also
responsible for expressing our opinion on whether
the company has adequate internal financial controls
system, with reference to 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 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 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
Ind AS 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 auditor's 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 Ind AS financial statements,
including the disclosures, and whether the standalone
Ind AS financial statements represent the underlying
transactions and events in a manner that achieves
fair presentation.

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

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 Ind
AS 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, 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 statement on the matters specified
in paragraphs 3 and 4 of the Order, to the extent
applicable.

2. As required by Section 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 except for the matters stated in
the paragraph (vi) below on reporting under
Rule 11(g)

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

d) In our opinion, the aforesaid standalone Ind
AS financial statements comply with the Indian
Accounting Standards specified under Section
133 of the Act. Read with Rule 7 of the
Companies (Accounts) Rules, 2014.

e) On the basis of the written representations
received from the directors as on 31st March,
2025 taken on record by the Board of Directors,
none of the directors is disqualified as on 31st
March, 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 over Financial Reporting 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 over financial reporting.

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.

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, 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 standalone Ind AS financial statements.
[Refer Note No C (2) under “other notes to
Ind AS Standalone financial statements”

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

iii) There has been no delay in transferring
amounts, required to be transferred, to the
Investor Education and Protection Fund by
the Company subject to the details disclosed
under Note no 6 in “Other notes to financial
statements”.

iv) a) The Management has represented that,

to the best of its knowledge and belief,
no funds (which are material either
individually or in the aggregate) 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.

b) The Management has represented that,
to the best of its knowledge and belief,
no funds (which are material either
individually or in the aggregate) 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.

Coimbatore
26th May 2025

c) Based on such audit procedures that
were 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 (a) and (b) contain
any material misstatement.

v) a) The dividend declared and paid

during the year by the Company is in
compliance with Section 123 of the Act

b) The Board of Directors of the Company
has proposed a dividend for the year
which is subject to the approval of the
members at the ensuing Annual General
Meeting.

vi) i) Based on our examination which

included test checks, the Company
uses accounting software "Tally Prime"
at Head office and accounting cum
Payroll application software "Plantex"
at Estate for maintaining its books of
accounts for the financial year ended
March 31, 2025 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.

ii) Further, during the course of our audit
we did not come across any instance
of audit trail feature being tampered
with.

iii) Additionally, the audit trail has been
preserved by the company as per
the statutory requirements for record
retention

For JAYARAMAN & KRISHNA

Chartered Accountants
ICAI Firm Registration No.011185S

S. KRISHNA MOORTHY

Auditor

Membership No. 200826
(UDIN: 25200826BMIYNY2045)