We have Audited the accompanying statement financial results of M/s. Fourth
Generation Information Systems Limited ('the Company') for the Quarter
ended 31st March, 2024 and the Year to date results for the period from 1st
April 2023 to 31st March 2024, attached herewith, being submitted by the
Company pursuant to the requirement of Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended
{“Listing Regulation”}

In our opinion and to the best of our information and according to the
explanations given to us, these financial results:

(i) Are presented in accordance with the requirements of Regulation 33 of
the Listing Regulations in this regards; and

(i) Gives a true and fair view in conformity with the recognition and
measurement principles laid down in the applicable accounting
standards and other accounting principles generally accepted in India of
the net profit/loss and other comprehensive income and other financial
information for the quarter ended 31" March, 2024 and the year to date
results for the period from 1st April, 2023 to 31st March, 2024-

Basis of Opinion

We conducted our audit of the financial statements 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 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 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 of Ethics. We believe that
the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion

Management’s Responsibility for the Financial Statements

These quarterly financial results as well as the year to date financial results
have been prepared on the basis of the interim financial statements. The
Company’s Board of Directors is responsible for the preparation of these
financial results that give a true and fair view of the net profit/loss and other
comprehensive income and other financial information in accordance with

the recognition and measurement principles laid down in Indian Accounting
Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of
the Act read with relevant rules issued there under and other accounting
principles generally accepted in India and in compliance with Regulation 33 of
the Listing Regulations.

This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding 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
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 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, 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 Responsibility

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 scepticism 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
insufficient 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 financial controls relevant to the
audit in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the company’s internal control.

• Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures made
by Board of Directors.

• Conclude on the appropriateness of Board of Director’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 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.

• Obtain sufficient appropriate audit evidence regarding the Financial
Results of the company to express an opinion on the Financial Results.

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 ouraudit.

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.

For NSVR & ASSOCIATES LLP
Chartered Accountants
FRN: 008801S/S200060

Sd/-

CA.N.SRINIVASU

Partner

Place: Hyderabad. M.No.209453

Date: 30.05.2024. UDIN: 24209453BKGDCZ2613