We have audited the accompanying standalone- financial statements of UNJHA FORMULATIONS
LIMITED!" f/ie Company") which comprises the Balance Sheet as at March 31,2024. the Statement of Profit
arid Lossf 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 exptanatory information.

In our opinion and lo the best ol our information and according to the explanations given to us. the aforesaid Ind
AS financial statements give the information required by the Act In the manner so required and give a true and
fair view in conformity with the Ind AS and accounting principles generally accepted in Indra. of the stato of
affairs of the Company as at March 31. 2024, and profit/loss. 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 ori 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 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 Ind AS financial statements under the
provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code ol Ethics Wo believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for ouropinion

Key Audit Matters

Key Audit Matters are those matters that, in our professional (udgment. were of most significance In our audit of
the Ind AS financial statements of the current period . These matters were addressed in the context of our audit
of the Ind AS financial statements as a whole and informing our opinion thereon, and we do not provide a
separate opinion on thesu matters . Wo have not observed any matters that classifies as the key audit matter to
be communicated in our audit repod

Information Other than the 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 Discussion and Analysis. Board's Report including Annexure 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 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
ourknowleageablainedintheauditorotherwiseappeafstobematoriallymisstated If.basedDnthewarkwe have
performed, we conclude that there is a material misstalemenl 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
StandaloneFinancialStatements

The Company’s Board of Directors is responsible for the 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 consolidated financial statements, standalone financial statements and our auditor's
report thereon.

Our opinion ori the standalone financial statements does not cover Hie 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 loreadtheolher
information and, in doing so consider whether the other information is materially inconsislont with the
standalone financial stalements or our knowledge otilained during Ihe course of our audit or otherwise
appears to be materially misstated

II based on Ihe work we have performed, we conclude that there is a material misstatement of this other
information, we ore required to report that fact. Wo have nothing to report in this regard.

Auditor's Responsibilities for the Audit of Ind AS Financial Statement

Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a
whole are free from material misstatement, whether duo 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 pari of an audit In accordance wllh SAs, we exercise professional judgment and maintain professional
scepticism 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 neks, and obtain audit
evidence that Is sufficient and appropriate to provide a oasis 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 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 or accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the management.

• Conclude on the appropriateness of management's use of trie going concern basis of accounting
and, based on the audit ovldence 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, wo are required to draw attention in our auditor's report to tho
related disclosures in the standalone financial statements or. ir such disclosures are Inadequate, to modify our
opinion. Our conclusions arc 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 dlsclcisuies. and whether the standalone financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.

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 (il) to evaluate
the effect of any identified misstatements in the standalone financial statements

We communicate with those charged with governance regarding, among other matters, the planned scope
and timing ol 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
tho 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 manor
should not be communicated <n 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 oy the Central
Government of India in terms of sub-section (11) of section 143 of the Companies Act. 2013. we give in the
’ Annoxure A" statement on the matters specified in paragraphs 3 and 4 of the Order, to fire extentapplicable

2. As required by Section 143(3) of the Act. we reportthot:

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 ouraudit

bj 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

c) The Balance Sheet, the Statement of Profit and Loss, ami the Cash Flow Statement dealt with by this
Report are in agreement with the books of account

d) In our opinion, the aforesaid Ind AS financial statements comply with the Indian Accounting Standards
specified under Section 133 of IheAct.

e) On the basis of the written representations received from the directors as on 31st March, 2024taken on
record by the Board of Directors none of the directors is disqualified as on 31st March, 2024 from being
appointed as a director in terms of Section 164 (2) ol theAet.

f) With rGspoct to the adequacy of the Internal Financial Control with reference to Financial Statements of
the Company and the operating effectiveness of such controls, refer to our separate Report In' AnnexureB".

g/ In our opinion and to the best of our information and according to the explanations given to us, the
company has not paid any remuneration paid to its directors during the year.

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 3nd according to
the explanations given to us:

i) The Company has disclosed the impact of pending litigations on Itsfinancial position in its Standalone
financial statements

ii) The Company did not hove any long-torm contracts including derivative contracts for which there
were any material foreseeable tosses

iii) There were no amounts which are required to be transferred, to the Investor Education and Protection
Fund by the Company.

For. Jain &Golechha.

Chartered Accountants
FRN.119637W

Yash K.Golechha
Partner

M.No. 607557

UDIN.24607597BKETK28837

Date .17" May 2024
Place: Ahmedabad