We have audited the standalone Ind AS financial statements
of DRC Systems India Limited ("the Company”), which
comprise the standalone Balance Sheet as at March 31, 2025,
the standalone statement of Profit and Loss (including other
comprehensive income), the standalone statement of Cash
Flow, the standalone statement of changes in equity for the
year then ended, and notes to the standalone Ind AS financial
statements, including a summary of significant accounting
policies and other explanatory information (hereinafter referred
to as " the standalone Ind AS financial statements").

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, and its profit, total comprehensive income, its
cash flows and the changes in equity for the year ended on that
date.

Basis of Opinion

We conducted our audit in accordance with the Standards on
Auditing specified under Section 143(10) of the Act (SAs). 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 ethical requirements that are relevant to our audit of the
standalone Ind AS financial statements under the provisions of
the Companies Act, 2013 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 on the standalone Ind AS financial
statements.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone Ind AS
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 Information

The Company's Board of Directors is responsible for the other
information. The other information comprises the information
included in the Director's report, but does not include the
consolidated Ind AS financial statements, 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 standalone Ind AS financial
statements, our responsibility is to read the other information
and, in doing so, consider whether the other information is
materially inconsistent with the standalone Ind AS financial
statements or our knowledge obtained during the course of our
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.

Managements and the Board of Director's
Responsibility for the Standalone Ind AS financial
statements

The Company's Board of Directors are responsible for the matters
stated in Section 134(5) of the Companies Act, 2013 ("the Act")
with respect to the preparation of these Standalone Ind AS
financial statements that give a true and fair view of the state
of affairs, profit/loss and other comprehensive income/expense,
changes in equity and cash flows of the Company in accordance
with the accounting principles generally accepted in India,
including the Indian Accounting Standards (Ind AS) 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 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 Standalone Ind AS financial statements 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, the
Management and the 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 has no realistic alternate but to do so.

The Board of Directors is also responsible for overseeing the
Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Stand¬
alone Ind AS 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 concluded 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 aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these
standalone Ind AS 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 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 with
reference to standalone Ind AS 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 the Board of
Directors.

• Conclude on the appropriateness of Management and
the 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 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.

Materiality is the magnitude of misstatements in the standalone
Ind AS financial statements that, individually or in aggregate,
makes it probable that the economic decisions of a reasonably
knowledgeable user of the standalone Ind AS 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 (ii) to evaluate the
effect of any identified misstatements in the standalone Ind AS
financial statements.

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 standalone Ind AS financial
statements of the current year 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, we 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, 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. (A) 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 standalone balance sheet, the standalone statement
of profit and loss (including other comprehensive
income), the standalone statement of changes in equity
and the standalone statement of Cash Flow dealt with by
this Report are in agreement with the books of account;

d. in our opinion, the aforesaid Standalone Ind AS financial
statements comply with the Ind AS specified under
section 133 of the Act, read with relevant rule issued
thereunder;

e. On the basis of 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 March 31,2025 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 standalone Ind AS financial
statements of the Company and the operating
effectiveness of such controls, refer to our separate
Report in "Annexure B". Our report expresses an
unmodified opinion on the adequacy and operating
effectiveness of the Company's internal financial
controls with reference to standalone Ind AS financial
statements.

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

In our opinion and to the best of our information
and according to the explanations given to us, the
remuneration paid by the Company to its directors
during the year is in accordance with the provisions of
section 197 of the Act.

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 does not have any pending litigations
which would impact its financial position.

(ii) The Company did not have any long-term contracts
including derivative contracts for which there were
any material foreseeable losses.

(iii) There were no amounts which were 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 its knowledge and belief, no funds 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 persons or entities, including foreign
entities ("Intermediaries"), with the understanding,
whether recorded in writing or otherwise, that the
Intermediary shall, whether, directly or indirectly
lend to 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 have
been received by the company from any persons
or entities, 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 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; and

(C) Based on such audit procedures that we have
considered reasonable and appropriate in the
circumstances, nothing has come to our notice that
has caused us to believe that the representations
given under (a) and (b) above, contain any material
mis-statement.

(v) The Company has neither declared nor paid any
dividend during the year.

3. 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.

The audit trail has been preserved by the Company as per
the statutory requirements for record retention.

For Rajpara Associates
Chartered Accountants
FRN 113428W

Place: Ahmedabad Chandramaulin J. Rajpara

Date: 28^th May 2025 Partner

UDIN: 25046922BMHVHP4839 M. No. 046922