We have audited the accompanying standalone
financial statements of Canarys Automations
Limited (formerly known as Canarys Automations
Private limited) ('the Company') which comprises the
Balance Sheet as at March 31, 2025, the Statement of
Profit and Loss and the Statement of Cash Flows for
the year then ended and Notes to the standalone
financial statements, including a summary of the
Significant Accounting Policies and other explanatory
information (hereinafter referred to as 'the standalone
financial statements').

In our opinion and to the best of our information
and according to the explanations given to us, the
aforesaid standalone 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 accounting principles
generally accepted in India, of the state of affairs of
the Company as at March 31, 2025, its profit and its
cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of standalone 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 standalone 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 financial
statements under the provisions of the Act and the
Rules issued 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 audit opinion
on the standalone financial statements.

Emphasis of Matter Paragraph

We draw attention to Note 43 of standalone financial
statements, which describes the Company's
acquisition, subsequent to the balance sheet date,
of a 51% equity stake in Fortira Inc., a key customer
in one of the Company's two revenue segments, on
April 15, 2025. Our opinion is not modified in respect of
this matter.

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 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.

Information Other than the standalone
financial statements and Auditor's
Report Thereon

The Company's Board of Directors is responsible
for the preparation and presentation of the other
information. The other information comprises
the information included in the Directors' Report,
including Annexures to the Directors' Report, but does
not include the standalone financial statements
and our auditor's report thereon. Our opinion on the

standalone 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
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 financial statements or our knowledge
obtained during the course of our audit or otherwise
appears to be materially misstated. The Director's
report and the secretarial audit report are not made

available to us as at the date of this auditor's report.
We have nothing to report in this regard.

Responsibility of Management for the
standalone 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 and presentation of
these standalone financial statements that give a
true and fair view of the financial position, financial
performance and cash flows of the Company in
accordance with the accounting principles generally
accepted in India, including Companies (Accounting
Standards) Rules, 2021 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 judgements
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
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 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. The Board
of Directors is also responsible for overseeing the
Company's financial reporting process.

Auditor's Responsibility for the Audit of
the standalone financial statements

Our objectives are to obtain reasonable assurance
about whether the standalone 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 standalone financial statements.

As part of an audit in accordance with SAs, we exercise
professional judgement and maintain professional
skepticism throughout the audit. We also:

• Identify and assess the risks of material
misstatement of the standalone 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 the management.

• Concludeontheappropriateness 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
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
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 financial statements,
including the disclosures, and whether the
standalone financial statements represent the
underlying transactions and events in a manner
that achieves fair presentation.

Materiality is the magnitude of misstatements in the
standalone financial statements that, individually or
in aggregate, makes it probable that the economic
decisions of a reasonably knowledgeable user of the
standalone 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 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 financial statements of the current period
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"
to the Independent Auditor's Report, 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 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 and the Statement of
Cash Flows dealt with by this Report are
in agreement with the books of account.

d. In our opinion, the aforesaid standalone
financial statements comply with the
Accounting Standards specified under
Section 133 of the Act, read with relevant
rules, as amended;

e. Onthebasisofthewrittenrepresentations
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 over financial
reporting of the Company and the
operating effectiveness of such controls
as required under Clause (i) of Sub¬
section 3 of section 143 of the Act, 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 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.

(b) 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, as amended, in our
opinion and to the best of our information
and according to the explanations given
to us:

a. The Company has disclosed the impact
of pending litigations on its financial
position in its standalone financial
statements- Refer Note 29

b. The Company did not have any long¬
term contracts including derivative
contracts for which there were any
material foreseeable losses.

c. There is no amount required to be
transferred to the Investor Education
and Protection Fund by the Company.

d. (i) The management has represented

that, to the best of its knowledge and
belief, as disclosed in note 36 to the
standalone financial statements,
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
person(s) or entity(ies), including
foreign entities ("Intermediaries"),
with the understanding, whether
recorded in writing or otherwise,
that the Intermediary shall 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;

(ii) The management has represented,
that, to the best of its knowledge
and belief, as disclosed in note
36 to the standalone financial
statements, no funds have been
received by 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 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

(iii) Based on such 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.

e. The interim dividend for preference
shares capital declared and paid by the
Company during the year and until the
date of this audit report is in accordance
with Section 123 of the Act.

f. Based on our examination which
included test checks, except for the
instances mentioned below, the
Company has used accounting
softwares for maintaining its books
of account, which have a feature of
recording audit trail (edit log) facility
and the same has operated throughout
the year for all relevant transactions
recorded in the respective software:

i. The feature of recording audit trail
(edit log) facility was not enabled at
the database level to log any direct
data changes for the accounting
softwares used for maintaining
the books of account relating to
payroll process, property, plant,
and equipment.

ii. The feature of recording audit trail
(edit log) facility was not enabled at
the database level to log any direct
data changes for the accounting
softwares used for maintaining
the books of account relating
to inventory.

Further, for the periods where the
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 feature being tampered
with as mentioned in note to the
standalone financial statements.

for SURESH & CO.

Chartered Accountants

Firm Registration No.: 004255S

Udupi Vikram

Partner

Membership No.: 227984

Bengaluru

29 May 2025

UDIN: 25227984BMJAQQ3217