We haveauditedtheaccompanyingfinancialstatements of INTEGRA SWITCHGEAR LIMITED, (Company Limited by Shares),
Vadodara as at 31st March, 2025, which comprises the Balance Sheet as at March 31, 2025, Statement of Profit and Loss for
the; year ended, cash flow stateme nts for the year en ded, changes in equityand a summary of s ignificant a ccou nting policies
and other explanatory information.

Opinion:

In our opinion and to the best: of ourinformation and according to the explanations given to us, the aforesaid financial state¬
ments give the information required by the Act in the manner so required and give a true and fair view in conformity with the
accountingprinciples generally accepted in India:

a) Inthe case of t he Balanc e Sheet, of the state of affairs of the Company as at March 31, 2025;

b) In the casc of the Profit and Loss Statement, of the profit for the year ended on that date.

c) In tine case oi the Casto Flow Statement, of tne cash flow for the year ende d on that date.

Basisforopinion:

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act and
other applicablc autho ritative pronouncements issued by/ theInstitute of C hattered Accountants ohndia. Our responsibilities
under those Standares arc eurtlmr describ ed in tho 'Auditor’s Responsibiliti es fear the Audit of the Standalone Financial Results'
section of ou r rep ort.We are in dependent of t he Company in accordance with the Code of Ethics issued by the Institute of
Chartered Accountants ofIndia together with the ethicalrequirements that are relevant to our audit of tne nnancial state¬
ments ender tine provitions of the Aet und the Rules shere u nder, and we h ave falHed ourather et hical responsibilities in
accordance with these requirements and she Code of Etlnics. We be lieve that the audit evidence obtained by us is sufficient
and appropriate to provide a basis for our opinion.

Management's Responsibility for the Financial Statements:

Managementisresponsibleforthematterstatedin Section 134 (5) of the Companies Act, 2013("The Act") with respect to
preparatipn of tasse financial rtatements thao give a tru e and fair view/ of the financial positio n, financ ial petformance and cash
tow of the Company in ac co rdance with the accounting principles generalfi accepted in India, including Accountin^d toandards
sp ecified under sectoi"! 1 3^e of th s Act eotified under the Act, read with Rule 07 of the Companies (Accounts) Rule 2015.

This responsibility also includes maintenance of adequate accounting records in accordance with the provision of the Act for
safeguarding the assets of the company and for preventing and detecting fraud and irregularities, selections and application
of ap°ropriate account ng policies, making judgments ayd estimates that ar e reasonable and prudem, and design , imple-
mentaton and mainteohnce df adequateinternal financial cCntrol, that were operating effectively for ensuring the accuracy
and completeness of the a ccounting re cords, relevant to toe preperation and presentcrion of the financial statements that
give a true and fair niew and ore fre e from material misstateme nt, whether due:; to fra ud o s earor.

In preparing the standalone financial statements, management is responsible for assessing the Company's ability to continue
osohoiahcoacem,eisclosiah,osoddlicoble,mottersreloteetohoiahcoacem and using tlenoinnconcem basis ofaccount-
ing unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to
doso.TheBoardofDirectorsareresponsibleforoverseeingtheCompany'sfinancial reporting process.

Auditors Responsibility:

Our objective is to obtain reasonable assurance about whether the financial statement as a whole are free from material
misstatement , whether due tofraudorerror,andtoissueanauditor'sreportthatincludesouropinion. 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
misstatementwhen itexists. Materialmisstatementcanarise from fraud orerrorandareconsideredmaterialif,individually or
in the aggregate, they could reasonably be expected to influence the economic decision of users taken on the basis of these
financialstatements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism through¬
out the audit.We a lso,

• Identify the risk;? of material misstatement ofthe financial statement, whether due to fraud or error, design and perform audit
procedures response 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 error, as fraud may involve collusion, forgery, inten-
tionalomission,misrepresentation,ortheoverride of internal control.

• Obtain tin understanding oO i nthrnal control rhlhesnt to thin andit ia order to design sudir procedures the r ere appropriate ia
the circtmstances. ender section14o(3)(i) of the (Companies Act, 2013, we arn also responsible for expronsing our opinion on
wheuher the company/ Inass adequateintern al financial cont rols system im place and the operating effectiveness of such
controls.

• Evaluate theappropriatenessofaccounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.

• (Conclude on the appropriateness of management's use of the gmiaj/ concern basis of accounting and, based on tine audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the
Company'sability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in nur auditor's rep4- to the related nisclosures i n the firmnc ial statements cor, if such disclnsures areinad equate, to
modify o ur o pinion. Our co nclnsions are based on the audit evidouce Qatarne d up to the date of nur auditor's report. Hmwever,
future events or conditions may cause the Compeny to emase to continue as a going concern.

• Evalumte the overall preseetation,st ructure and content of tha fin ancial statements, incl uding tee Uisclosures, and whether
the fintncial statements represent the underlying transactions and tweets in a manner that achiedes fair presentatidn.

We commuuicatu witn those oharaed 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 alsoprovide thosechargedwith governance with a statement that we have complied with relevant ethical requirements
regarding independcnce, knd tor co mmunicate with them all relationshipe and otfrer matte os that mac reasonably be thought
to tmear on our independekce, and where applicable, related safeguards.

We believe that the audit evidence we have obtamed is sufficient and appropriate to provide a basis for our audit opinion on
the financial Statements.

Report on OtherLegal andRegulatoryRequirements:

1. Au required by theCom panies ^diree's Repo rt) Order, U0U0('theOrdeⁿ)issued bytireCent ral Govemmentin terms of
section1430l) of theAct,we give in the Annexure 'A', statements on the matters specified in paragraphs 3 and 4 of the said
order.

2. A, As required by section 143(3) of the Act, we report ahat:

(a) Wehaveeought and obtainedallttc information and explanations which to the best of our knowledge and belief
were necessary for the purpose of our audit.

(b) In ouropinion,proper booksofaccountas required by law have been kept by the Company so far as appears from our
enamiaetion of those bo oks of toe Compan

Uc) The Ba lan ce Sheet, P rofit & Loss statements and cash flow statemetts dealt with toy this report are in agreement with the
Books of aecounCs of the Compnty.

(d) In our opinion, the Balance Sheet, Profit & Loss Statement and cash flow statements comply with the Accounting Standards
specifiedundersection133 ofthe Act,readwithRule07ofthe Companies(Accounts)RuleU015.

(e) On thebasisofthewritten representationsreceivedfromtheairectorsofthe Company as on 31st March U0U5, taken on
record by the Board of Directore of the Company, none of the airectorsis disqealifiud as con dnsa March, U0U5 from hieing;
nupoitted em a Director in terms section 164 (U) of the companies Act 2013.

(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 ourseparatereportin "AnnexureB".

B. With respect to other matters to be included in the Auditor 's Report in accordance with rule 11 of the companies (Audit &
Auditors) Rule 2014, in our opinion and to the best of our information and according to the explanations given to us:

a. TheCompanyhasdisclosed theimpactofpendinglitigations onitsfinancialStatementsasof31stMarch2025,

b. The Company has made provision in its Financial Statements as required under the applicable law or accounting standards ,
for materialforeseeablelossesonlongtermscontracts,

c. There were no amount which were required to be transferred to theInvostor Eduoation and Protection Fung by the
Company.

d.

I) The Management has represented that, to the best of its knowledge and belief no funds have been advanced or loaned or
invested(eitherfromborrowedfundsorsharepremium or any other sources or kind of funds) by the Company to or in any
other person(s) or entity(ies), including; foreigc entities ('Intermediaries"), with the understanding,whether recorded in writing
or otherwise, that the Intermediary sfrall, whether,directly or indirectly lend orinvest in other persons or entitiks identified in
any manner whatsoever by/ or on behalf of the compa ay ("Ultimate Beaeficiaries") or provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries;

II) The Management has represented that, to ehe best ofits knowledge and belief, taat no funds h ave ueen rece ived b2 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, whether, directly or indirectly, lend or invest in other persons or
entitiesidentifiedinany manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any
guaran tee, security/ or the like on behel f of the Ultimate Beneficia ries; and

III) Based on such audits procedures performed that hace begn considered reasonable and appropriate in the eircumstances,
nothing ha s come to o an notice thot °as caused us to believe t hat tine representations under sub-clau ae (i ) and (ii) of Rule 11(e)
contem enys material misstatemenO.

e. Thereisno dividenddeclaredorpaid during the year by the Company and hence provisions of section 123 of the compa-
niem Act, 2013 are not applicable.

f. The re porting under Rule 11(g) of the Companies (Audit aiae Auditors) Rule,e024 is applicable from 1 April 2023.

Based on our examination whichincluded te st checks, the eompany has used aac ounting softwore for maintaining its books of
nccoubt, which have a features of re coraing audit trail (edim lpgt tcacility/ and the same has operated throughout the year for all
relevunl transaction recorded in the respective software.

Ourthor, forahe period weere audit trail (edit log) facility was enabled and operated throughout the year for the respective
accounting software, we did not come across any instance of the audit trail features being tampered with.

g. Inouropinionandtothebestofourinformationand according to the explanation given to us, the said accounts read with
the notes on a cceunts ig Notes ann exed to md forming part 0^s aecounts give the informatioa reniuiretd by ehe Companies
Act,201 3 in the manner so required give a true and fais view.

PLACE:VADODARA FORDC PARIKH& CO.

DATE:25/05/2025 Chartered Accountants

FirmReg. 107537W

UDIN: 25037212BMIHGN2987

( D. C. PARIKH )

M.No.037212