We have audited the accompanying standalone financial
statements of Seshaasai Technologies Limited (“the
Company"), which comprises the Balance Sheet as at 31^st
March, 2026, the Statement of Profit and Loss (including
Other Comprehensive Income), the Cash Flow Statement
and the Statement of Changes in Equity for the year then
ended on that date, and notes to the financial statements,
including a summary of the material accounting policies
and other explanatory information (hereinafter referred
to as “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 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
31^st March, 2026, and its profit, total comprehensive
income, its cash flows and the changes in equity for
the year ended on that date.

Basis for Opinion

We conducted our audit of the Standalone Financial
Statements in accordance with the Standards on Auditing
("SA"s) specified under Section 143(10) of the Act. Our
responsibilities under those Standards are further described
in the Auditor's Responsibility 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 ("ICAI") 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
made thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and
the ICAI's 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.

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 year. 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
other information. The other information comprises the
information included in the Company's annual report but
does not include the Consolidated Financial statements,
Standalone Financial Statements and our auditors'
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 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.

Responsibilities of Management and Board
of Directors 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 of these Standalone
Financial Statements that give a true and fair view of the
financial position, financial performance including other
comprehensive income, cash flows and changes in equity
of the Company in accordance with the accounting
principles generally accepted in India, including 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 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 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 has
no realistic alternative but to do so.

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

Auditors' Responsibility for the Audit of the
Standalone Financial Statement

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 judgment 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 financial
controls 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
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
the management.

• Conclude on the appropriateness 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 (i) in 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 financial
controls 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, issued by the Central Government of
India in terms of sub-section (11) of section 143 of the
Act (hereinafter referred to as the "Order") 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. As required by Section 143(3) of the Act, based on
our audit we report, to the extent applicable 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 including Other Comprehensive Income,
the Statement of Cash Flows and Statement of
Changes in Equity dealt with by this Report are
in agreement with the books of accounts;

d) in our opinion, the aforesaid Standalone
Financial Statements comply with the Ind AS
specified under Section 133 of the Act;

e) on the basis of the written representations
received from the directors as on 31^st March,
2026 taken on record by the Board of Directors,
none of the directors are disqualified as on 31^st
March, 2026 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
financial statements of the Company and
the operating effectiveness of such controls,
refer to our separate report in “Annexure B";
Our report expresses 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 read with Schedule V of the Act and the
rules thereunder.

3. With respect to the other matters to be included
in the Auditors' 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:

i. The Company has disclosed the impact of
pending litigations as at 31^st March, 2026 on its
financial position in its Standalone Financial
Statements to the extent determinable/
ascertainable. Refer Note 41 to Standalone
Financial Statements.

ii. The Company does not have any long-term
contract including derivative contracts as at
31^st March, 2026 for which there are 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 during the
year ended 31^st March, 2026.

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 kinds 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
or invest in other persons or entities
identified in any manner whatsoever by
or on behalf of the Company or (“Ultimate
Beneficiaries") or provide any guarantee,
security or the like to or 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.

(c) Based on audit procedures performed 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 mis-statement.

v. a) The final dividend proposed in the previous
year, declared and paid by the Company
during the year is in compliance with
section 123 of the Companies Act, 2013,
as applicable.

b) As stated in Note 41 to the standalone
financial statements, the Board of
Directors of the Company have proposed
the final dividend for the year which is
subject to the approval of the members at
the ensuing Annual General Meeting. Such
dividend proposed is in accordance with
section 123 of the Act.

4. With respect to the matter to be included in the
Auditors' Report under Rule 11(g) of the Companies
(Audit and Auditors) Rules, 2014, based on our
examination which included test checks, except
for the instances mentioned below, the company
has used Tally Prime software for maintaining its
books of account which has a feature of recording
audit trail (edit log) 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 and the

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

A) The Fixed Assets Register relating to Property,
Plant and Equipment (including Intangibles),
the payroll processing system and Inventory
register are maintained in excel format and
there is no feature of recording audit trail (edit
log) throughout the year.

For Vatsaraj & Co.

Chartered Accountants

Firm Registration Number: 111327W

CA Jwalant Buch

Partner

M No.: 039033

Place: Mumbai

UDIN: 26039033TRCZCN7797

Date: 18^th May, 2026