We have audited the standalone Ind AS Financial Statements
of ASM Technologies Limited ("the Company") which comprise
of balance sheet as at March 31, 2025, the statement of profit &
loss, statement of changes in equity and the cashflow statement
for the year then ended, notes to Standalone Ind AS 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 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, profits (including other comprehensive
income), changes in equity and its cash flows for the year ended
on that date.

Basis of 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 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
together with the ethical requirements that are relevant to our
audit of the Standalone Ind AS 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 our opinion.

Key Audit Matters:

Key audit matters are those matters that, in our professional
judgment, 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
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. We have determined the
matters described below to be the key audit matters to be
communicated in our report.

Other Matter:

We draw attention to Note 37 to the Standalone Ind AS financial
statements which explains that the comparative figures
presented as at and for the year ended March 31, 2024 have
been restated due to the accounting for a business combination
in accordance with Ind AS 103, Business Combinations. Our
opinion is not modified in respect of this matter.

Other Information, [such as "Information
Other than the Standalone Ind AS Financial
Statements and Auditor's Report Thereon"]:

The Company's Board of Directors is responsible for the other
information. The other information comprises the board report
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 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. 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.

In connection with our audit of the 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
financial statements or our knowledge obtained in the audit,
or otherwise appears to be materially misstated.

Management's Responsibility for Standalone
Ind AS Financial Statements:

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 Ind AS financial statements that give a true
and fair view of the financial position, financial performance,
changes in equity and cash flows 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 implementation
and maintenance of 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 statement 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.

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

Auditor's Responsibilities for the Audit of the
Ind AS Standalone 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 financial statements.

As part of an audit in accordance with SAs, we exercise
professional judgement and maintain professional scepticism
through 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 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 ability of the Company 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.

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.

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, 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.

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

d) I n our opinion, the aforesaid standalone Ind AS
financial statements comply with the Accounting
Standards specified under Section 133 of the Act as
amended from time to time.

e) On the basis of the written representations received
from the directors as on March 31, 2025 taken
on record by the Board of Directors, none of the
directors is disqualified as on that date 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".

g) With respect to the other matters to be included in
the Auditor's Report in accordance with requirement
of Section 197 (16) of the Act, as amended:

I n our opinion and according to the information
and explanation given to us, the remuneration
paid during the current year by the Company is in
accordance with the provisions of Section 197 of the
Act. The remuneration paid to any director/ manager
by the Company, 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.

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 its pending
litigations which would impact its financial
position in Note 32 of the Standalone Ind AS
financial statements.

ii) The Company did not have any long-term
contracts as required under the applicable law
or accounting standards, and also not entered
into any derivative contracts, accordingly no
provision is required to be made in respect of
material foreseeable losses.

iii) During the year, the Company has remitted
an amount of 10.58 million to Investor
Education and Protection Fund ("IEPF") as per
the provisions of the Act. However, due to a
technical error at the bank's end, the amount
has been returned to the Company's bank
account. The management is in the process of
taking the corrective steps to remit the same
and said amount is outstanding as at March
31, 2025.

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 or entity, including foreign entity
("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. 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 or entity, including
foreign entity ("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

c. Based on the audit procedures that
have been 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 (i) and (ii) of Rule 11(e), as
provided under (a) and (b) above, contain
any material misstatement

v. a) Based on the information and explanation
furnished to us by the Company, final
dividend paid by it which was proposed
in the previous year and interim dividend
paid during the year are in accordance
with section 123 of the Act.

b) As per note 43 of the financial statements,
the Board of Directors has proposed a final
dividend which is subject to approval by
the members of the Company in ensuing
annual general meeting.