We have audited the Standalone Ind AS Financial Statements
of Asahi India Glass Limited ("the Company”), which
comprise the Balance Sheet as at 31^st March, 2026, the
Statement of Profit and Loss, Statement of Changes in
Equity and Statement of Cash Flows for the year then ended,
and notes to the Financial Statements, including a summary
of material accounting policies and other explanatory
information.

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 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 31^st March, 2026 and its Profit, Changes in
Equity and its Cash Flows for the year ended on that date.

Basis for Opinion

We conducted our audit 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 Auditors'
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
the 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
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.

Key Audit Matters

Key audit matters are those matters that, in our professional
judgement, 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.

Management’s Responsibility for theStandalone Ind AS Financial Statements

The Company's Board of Directors is 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 financial position, financial performance
including Other Comprehensive Income, 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) prescribed 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 of 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 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,
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 are also responsible for overseeing
the Company's financial reporting process.

Auditors’ Responsibilities for the Audit of the
Standalone 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 auditors' 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 Ind AS 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 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 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 reasonableness of accounting estimates and related
disclosures made by 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 auditors'
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 upto the date of our
auditors' 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.

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 period and are therefore the key
audit matters. We describe these matters in our auditors'
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 outway the public interest
benefits of such communication.

Report on Other Legal and Regulatory
Requirements

1. As required by the Companies (Auditors' Report) Order,
2020 ("the Order”) issued by the Central Government of
India in terms of sub-section (11) of section 143 of the
Companies Act, 2013, 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, 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 Other Comprehensive Income and the Cash
Flow Statement 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 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 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
is 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 over financial reporting of the Company and
the operating effectiveness of such controls, refer to
our separate Report in "Annexure B”.

g) In our opinion and according to the information and
explanations given to us, the remuneration paid by the
Company to its directors during the current year is in
accordance with the provisions of Section 197 of the
Act. The remuneration paid to any director is not in
excess of the limit laid down under Section 197 of the
Act. The Ministry of Corporate Affairs has not
prescribed other details under Section 197(16) which
are to be required to be commented upon by us.

h) 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, 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 on its financial position in
its Ind AS Financial Statements - refer Note 37
to Ind AS Financial Statements.

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, other than as
disclosed in the Notes to the Accounts, no funds
have been advanced or loaned or invested
(either from borrowed funds or share premium
or any other source 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 intermediaries 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 ("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, other than as
disclosed in the Notes to the Accounts, 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, 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 under sub-clause (i) and (ii)
contain any material mis-statement.

v) The dividend declared/paid during the year by the
Company is in compliance with Section 123 of the
Companies Act, 2013.

vi) 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 31^st March, 2026, 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. Additionally, the audit trail has been
preserved by the Company as per the statutory
requirements for record retention.

For V S S A & Associates

Chartered Accountants
{Firm Registration No 012421N}

Place: New Delhi CA Samir Vaid

Date: 27^th May, 2026 Partner

UDIN: 26091309MQHOIZ5187 Membership No. 091309