We have audited the accompanying Financial Statements of Saakshi Medtech and Panels
Limited (Formerly known as Saakshi Machine and Tools Private Limited) (the
Company), which comprise the Balance Sheet as at 31^st March 2025, the Statement of Profit and
Loss 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,
(hereinafter referred to as “the financial statements”)

In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid Financial Statements give the information required by the Companies Act, 2013, as
amended (the ‘Act’) in the manner so required and give a true and fair view in conformity with
the accounting principles generally accepted in India, of the state of affairs of the Company as at
31^st March, 2025, and its profit/loss, and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance with the Standards on
Auditing (SAs), as 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 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 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 obtained by us is
sufficient and appropriate to provide a basis for our opinion on the financial statements.

Other Information

The Company’s Management and Board of Directors are responsible for the other information.
Our opinion on the financial statements does not cover the other information and we do not
express any form of assurance and/or 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 during the course of audit or otherwise
appears to be materially misstated.

If, based on the work w^re 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’s and Board of Directors’ for the Financial
Statements

The Company’s management and Board of Directors are responsible for the matters stated in
section 134(5) of the Act with respect to the preparation of these financial statements that give a
true and fair view of the state of affairs, profit/loss 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
accounting policies; making judgments and estimates that are reasonable and prudent; and the
design, implementation and maintenance of adequate internal financial controls, that w’ere
operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the financial statements that give a true and fair
view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the management and Board of Directors are 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 have 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 Financials Statements

Our objectives are to obtain reasonable assurance about whether the 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 judgment and maintain
professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the 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)0) of the Act,
we are also responsible for expressing our opinion on whether the company has adequate
internal financial controls 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 and Board of
Directors.

• Conclude on the appropriateness of management’s and Board of Directors’ 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 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 financial statements,
including the disclosures, and whether the 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.

From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of the financial statements for the financial
year ended 31^st March, 2025 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, w’e 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, based on our
audit we give in the “Annexure l” a statement on the matters specified in paragraph 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 purpose 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, and the Cash Flow Statement dealt with
by this report are in agreement with the books of account.

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

e. On the basis of written representations received from the directors as on 31^s1 March 2025, and
taken on record by the Board of Directors, none of the directors is disqualified as on 31^st 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 with reference to financial
Statement of the company and the operating effectiveness of such controls, refer to our separate
report in “Annexure 2” of this report.

g. 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
managerial remuneration has been paid/ provided by the company to its directors in accordance
with the provisions of section 197 read with Schedule V to the Act.

h. With respect to the other matters to be included in the Auditor’s Report in accordance with
the Rule 11 of the Companies (Audit and Auditors) Rules,2014, as amended in our opinion and
to the best of our information and according to the explanations given to us:

i. The Company did not have pending litigations as on financial statement ending date
other than disclosed in notes contingent liability.

ii. The company did not have any long term contracts including derivative contracts 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.

iv. (a) The management has represented that, to the best of it’s knowledge and belief,
other than as disclosed in the notes to the accounts, no funds (which are material either
individually or in 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 entities (“Intermediaries”), with the
understanding, whether recorded in wTiting 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 it’s knowledge and belief, other
than as disclosed in the notes to the accounts, no funds (which are material either
individually or in aggregate) have been received by the company from any person or
entity’, including foreign entities (“Funding Parties”), with the understanding, whether
recorded in writing or otherwise, that the company shall, w'hether, directly or indirectly,
lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Part)' (“Ultimate Beneficiaries”) or provide any guarantee, security
or the like on behalf of the Ultimate Beneficiaries; and

(c) Based on audit procedures which we considered reasonable and appropriate in the
circumstances, nothing has come to their notice that has caused them to believe that the
representations under sub-clause (i) and (ii) contain any material mis-statement.

(v) The company has not declared or paid any dividend during the year.

(vi) Based on our examination, which included test checks, the Company has used
accounting software for maintaining its books of account 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. Further, during the course of our audit we did not come across any instance of
the audit trail feature being tampered with.

As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April
1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014
on preservation of audit trail as per the statutory requirements for record retention is
applicable for the financial year ended March 31, 2025. The company has duly preserved
such records in compliance with the said provisions.

For KISHOR GUJAR & ASSOCIATES

Chartered Accountants

Firm Registration No. - 116747W . r _r .

Peer Review No.: 014220

Ivf lesal

CA Javedkhan Saudagar (Partner)

Membership No.:- 139006
Place:-Pimpri, Pune:- 411 018
Date: 28^th May, 2025
UDIN: 25139006BMIEDR2901