We have audited the accompanying standalone financial statements of Nile Limited, which comprise the Standalone Balance
Sheet as at March 31, 2025, the Standalone Statement of Profit and Loss, including the statement of Other Comprehensive
Income, the Standalone Cash Flow Statement and the Standalone statement of changes in equity for the year then ended, and
a summary of significant 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 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 (‘Ind AS') specified under section 133 of the Act read with the
Companies Rules, 2015 and other accounting principles generally accepted in India, of the state of affairs of the Company as at
31st March, 2025, and its profit and loss statement including statement of Other comprehensive Income, its cash flows and the
statement of changes in equity for the year ended on that date.

Basis for 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
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
we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

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 are responsible for the
preparation of the other information. The other information
comprises the information included in the Management
Discussion and Analysis, Board's Report including Annexures
to Board's Report, Business Responsibility Report, Corporate
Governance and Shareholder's Information, 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. 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.

The said other information is expected to be made available
to us after the date of this Audit Report. When the information
is furnished to us, we read the same and if we conclude that
there is a material misstatement therein, we are required to
communicate the same to those charged with governance and
the shareholders.

Management’s Responsibility for the Standalone 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 financial statements that give a true and fair view
of the financial position, financial performance, including
other comprehensive income, cash flows and the statement
of changes in equity 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 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, the Board of
Directors 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 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 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 risk, 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 control
relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under
section l43(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.

• 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 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 in dependence , and to communicate
with them all relationships and other matters that may
reasonably be thought to bear on our in dependence 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

A. As required by the Companies (Auditor's Report) Order
2020 (‘ the order ‘), issued by the Central Government
of India in terms of Subsection 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.

B. 1. As required by Section 143 (3) of the Act, 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
of the accompanying standalone financial
statements

(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, except of the
matters stated in point (f) below on reporting
under Rule 11(g) of the companies (Audit
and Auditors) Rules, 2014 (as amended)

(c) The Standalone Balance Sheet, the
Statement of Profit and Loss including the
statement of Other Comprehensive income,
the Cash Flow Statement 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 standalone
financial statements comply with the Indian
Accounting Standards specified under
Section 133 of the Act.

(e) On the basis of the written representations
received from the directors as on 31st
March, 2025 taken on record by the Board of
Directors, none of the directors is disqualified
as on 31st 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 with reference to financial
statements of the Company and the operating
effectiveness of such controls, refer to our
separate Report in “Annexure B”.

2. 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 impact of
pending litigation in Notes on Standalone
Financial Statements under ‘contingent

(iii) Based on the 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) contain any material
misstatement.

(e) As stated in Note 11 to the standalone
financial statements:

The dividend declared and paid by the
Company during the year is in compliance
with Section 123 of the Act.

(f) Based on our examination which included
test checks, the company has used an
accounting software for maintaining its books
of accounts 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 audit trail
feature being tampered with.

3. With respect to the matter to be included in the
Auditor's Report under Section 197(16) of the Act:
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)of the Act which are required
to be commented upon by us.

For Gokhale & Co

Chartered Accountants
FRN: 000942S

Padam Kumar Kaliya

Partner

Date: 28th May,2025 Membership No. 243378

UDIN: 25243378BMLFOO7071 Place: Hyderabad