We have audited the Standalone financial statements of National Plastic Technologies 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 Standalone financial statements, including a
summary of significant accounting policies and other explanatory information (hereinafter referred to
as "the Standalone financial statements").

In our opinion and to the best of our information and according to the explanations given to us, 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 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, 2025, and profit,
Other total Comprehensive Income, Changes in Equity and Cash Flows for the year ended on that
date

Basic 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 SAs are further described in the Auditor's
Responsibilities for the Audit of the Standalone 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 relevant to our audit of
the Standalone 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 obtained is sufficient and appropriate to
provide a basis for ou r opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most significance in
our audit of the Standalone financial statements of the current period. These matters were addressed
in the context of our audit of the financial 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 matter described below to be the key audit matter to be communicated in
our report:

Information Other than the Standalone financial statements and Auditor's Report thereon

The Company's Board of Directors is responsible for the other information. The other information
comprises the information included in the Management and Discussion 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 financial statements and our auditor's
reportthereon.

Our opinion on the Standalone 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 financial statements, our responsibility is to read the
other information identified above when it becomes available and, in doing so, consider whether the
other information is materially inconsistent with the Standalone financial statements or our
knowledge obtained in the 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 Management and Those Charged with Governance for the Standalone
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 Standalone financial statements that give a true and fair view
of the financial position, financial performance, total 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
judgements 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.

In preparing the Standalone financial statements, the Board of Directors 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 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 forthe Audit of the Standalone financial statements

Our 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 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 financial statements.

As part of an audit in accordance with SAs, we exercise professional judgement 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
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 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, 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 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 financial statements,
including the disclosures, and whether the Standalone financial statements represent the
underlying transactions and events in a mannerthat 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 standalone financial 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 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 Act, 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, 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 matter stated in
paragraph 2(hXvi) below on reporting under Rule 11 (g) of the Companies (Audit & Auditors)
Rules, 2014.

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

(d) In our opinion, the aforesaid Standalone financial statements comply with the Ind AS 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 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) The modifications relating to the maintenance of accounts and other matters connected
therewith are as stated in paragraph 2(b) above on reporting under section 143(3)(b) of the
Act and paragraph 2(h)(vi) below on reporting under Rule 11 (g) of the Companies (Audit &
Auditors) Rules, 2014

(g) 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
"Annexure B".

(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), 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 litigation on its financial position in its
standalone financial statement- referto Note 30 to the standalone financial statement.

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

lii) There has been no delay in transferring amounts, required to be transferred, to the Investor
Education and Protection Fund by the Company.

iv) Management has represented that,

a) to the best of its knowledge and belief, other than as disclosed in the notes to the accounts
(refer Note 43 (I)), 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(is), 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.

b) Management has represented that, to the best of its knowledge and belief, other than as
disclosed in the notes to the accounts (refer Note 43 (m)) no funds have been received by the
Company from any person(s) orentity(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, and

Based on the audit procedures adopted by us, nothing has come to our notice that has caused
us to believe that the representations made by the management under sub clause (i) and (ii)
above, contain any material misstatement

(v) As per the information and explanation given by the management and based on the records of
the Company, the dividend paid by the Company during the year, in respect of the same
declared for the previous year, is in accordance with Section 123 of the Act to the extent it
applies to payment of dividend. As stated in Note 36 to the standalone financial statements,
the Board of Directors of the Company have proposed final dividend for the year which is
subject to the approval of the members at the ensuing Annual General Meeting. The dividend
declared is in accordance with Section 123 of the Act to the extent it applies to declaration of
dividend.

(vi) Based on our examination which included test checks, the Company has used an accounting
software programs for maintaining its books of account, which have a feature of recording
audit trail (edit log) facility at application level and database level, which have operated
throughout the year for all relevant transactions recorded in the software except for
maintenance of recording employee master data and employee data relating to attendance
and leave which are recorded in a separate payroll processing software. Further, during the
course of our audit, we did not come across any instance of the audit trail feature being
tampered with for software programs maintained by the Company where the audit trail feature
was enabled.

The Company also uses third party software program for payroll processing, wherein the audit trail
has been enabled at the application level. Audit trail data at the database level is available with the
third party software service provider.

3) With respect to the matter to be included in the Auditors' Report under Section 197(16) of the Act.

In our opinion and according to the information and 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 is not in excess of the limit laid down
under 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.

For C.A Patel & Associates
Chartered Accountants

Firm Regd. No : 0014055S

MODI RAJESH
Partner

Date: 27th May, 2025 M No. 027425

Place : Chennai UDIN : 25027425BMNYUA5625