We have audited the accompanying standalone annual financial statements of M/s
RICHFIELD FINANCIAL SERVICES LIMITED (‘the Company’), for the quarter and year
ended March 31, 2025 (‘the statement’) which comprise of the Balance Sheet as at 31"
March 2025, and the Statement of Profit and Loss (including Other Comprehensive
Income), the Statement of Changes in Equity and the 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 (the Financial Statements) 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
Regulations’) and the Companies Act, 2013 (‘the Act”).

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 (the “Act”) and regulation 33 of the Listing Regulations, 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 to the extent applicable (“Ind AS”), RBI guidelines and
accounting principles generally accepted in India, of the state of affairs of the Company as
at 31 March, 2025, its Profit including other comprehensive income, its cash flows and the
changes in equity for the year ended March 31,2025.

Basis for Opinion

We conducted our audit of the financial statements in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. 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 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 we have obtained is sufficient and appropriate to provide a basts for our
audit opinion on the 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 financial statements of the current year. We have
determined that there are no key audit matters to communicate in our report.

Information Other than the Financial Statements and Auditor s Report I hereon.

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 financial statements and our auditor’s report thereon. the Company s
Annual Report is expected to be made available to us after the date of this auditor s report.

Our opinion on the 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 financial statements, our responsibility is to read the
other information identified above when it becomes available and, in doing so, consider
whether the other information is materially inconsistent with the financial statements, or
our knowledge obtained in the audit, or otherwise appears to be materially misstated.

When we read the Company’s annual report, if we conclude that there is a material
misstatement therein, we are required to communicate the matter to those charged with
governance and take necessary actions, as applicable under the relevant laws and

regulations.

Responsibilities of Management and Those Charged with Governance for the 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 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 the
Indian Accounting Standards (1ND AS) specified under Section 133 of the Act read with
relevant rules issued thereunder, the circulars, guidelines and. directions issued by the
Reserve Bank of India (RBI) from time to time ( "RBI guidelines") 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 irregulant.es; selection and application
of appropriate accounting policies; making judgments and estimates that are reasonable an
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, 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 alternative but to do so. The Board of Directors are also responsible for overseeing
the company’s financial reporting process.

Auditor’s Responsibilities for the Audit of Financial 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 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)(i) of
the Companies Act, 2013, 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 Management and Board of
Directors.

• Conclude on the appropriateness of the Management 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 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, a statement on the matters specified in the paragraph 3 and
4 of the order

2. As required by the Non-Banking Financial Companies Auditor’s Report (Reserve Bank)
Direction, 2016, issued by the Reserve Bank of India, in exercise of the powers conferred by
sub-section (1A) of section 45MA of Reserve Bank of India Act 1934, we give in the

“Annexure B”, an additional Audit Report addressed to the Board of Directors containing
our statements on the matters specified therein

3. 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 including the statement of Other
Comprehensive Income, the Statement of Cash flows and the Statement of changes in
Equity dealt with by this Report are in agreement with the books of account.

d) In our opinion, the aforesaid financial statements comply with the Indian 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 March 2025
taken on record by the Board of Directors, none of the directors are disqualified as on
31 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 over financial reporting
of the company with reference to the financial statements and the operating
effectiveness of such controls, refer to our separate report in "Annexure C to this
report.

g) 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 does not have any long-term contracts including derivative
contracts involving any material foreseeable losses

iii. The company is not required to transfer any amount to the investor education and
protection Fund.

iv. The Company has paid dividend during the year which was in compliance with
Section 123 of the Companies Act, 2013.

V 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 (“intermedianes ) with
the understanding, whether recorded in writing or otherwise, that, the
intermediary shall

. directly or indirectly lend or invest in any other persons or entities identified
in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the

Company; 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 in otherwise, that the Company shall

. directly or indirectly lend or invest in any other persons or entities identified
in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the

Company; or .

. provide any guarantee, security or the like to or on behalf of the Ultimate

Beneficiaries

c) Based on such audit procedures as 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 (iv) (a) and (iv) (b) contain any material mis -

statement.

vi. With respect to the matters 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, no
remuneration has been paid by the Company to its directors during the year.
Accordingly, the provisions of Section 197 of the Companies Act. 2013 have been

complied with.

vii. Based on our examination which included test checks, the company has used
accounting software for maintain its books of accounts for the financial year ended
31st March 2025 which has a feature of recording audit trail (edit log) facility an
the same has operated throughout the year for all relevant transactions recorded
in the software except that audit trail feature was not enabled at the database level
to log any direct data changes. Further during the course of our audit, we did not

come across any instance of audit trail feature being tampered with, in respect of
accounting software for the period for which the audit trail feature was enabled

and operating.

For A. John Moris & Co.,

Chartered Accountants

Firm Registration Number: 007220S

Jobin George
Partner

Membership No. 236710
UDIN: 25236710BM1XWN8312
Date: 28-05-2025
Place: Kochi