We have audited the accompanying Standalone
financial statements of Summit Securities Limited (the
“Company”), which comprise the Standalone Balance
Sheet as at March 31,2025, standalone Statement of Profit
and Loss (including Standalone Other Comprehensive
Income), Standalone Statement of Cash Flows and
Standalone Statement of Changes in Equity for the year
ended, and a summary of material 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 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 March 31, 2025, its profit and total
comprehensive income (including other comprehensive
income), the changes in equity and its cash flows 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
(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 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 Companies Act, 2013 and the Rules 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 we have
obtained is sufficient and appropriate to provide a basis
for our 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
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 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, Corporate Governance
Report Business Responsibility and Sustainability Report
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.

We have nothing to report in this regard.

Responsibilities of Management and those charged
with Governance 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, changes in equity and cash flows of the Company
in accordance with the Ind AS and other accounting
principles generally accepted in India, including the
accounting Standards 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 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 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 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 are also responsible
for overseeing the Company's financial reporting process.

Auditor's Responsibilities 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
scepticism throughout the audit. We have 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
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.

• 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.

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 identify matter that were of such
significance in the audit of the Standalone financial
statements for the financial year ended March 31,
2025, that they would be considered key audit matters.
Accordingly, such matters have been described in our
auditor's report. Furthermore, there were no circumstances
where disclosure was precluded by law or regulation, or
where adverse consequences were 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 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, based on
our audit 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 Standalone Balance Sheet, the Standalone
Statement of Profit and Loss including Standalone
Other Comprehensive Income, Standalone
Statement of Changes in Equity and the Standalone
Statement of Cash Flows dealt with by this Report
are in agreement with the relevant 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 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, 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 over financial reporting.

g) With respect to the matter to be included in the
Auditor's Report under Section 197(16) of the Act:
In our opinion and to the best of our information
and according to the explanations given to us, no
remuneration has been paid by the Company to its
directors during the year. However, remuneration has
been paid to the manager. The remuneration paid is
in accordance with the provisions of Section 197 read
with Schedule V to the Companies Act, 2013.

h) 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:

i) The Company has disclosed the impact of pending
litigations on its financial position in its standalone
financial statements. Refer note no. 25 to the
standalone 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 has been no amount which is to be transferred
to the Investor Education and Protection Fund during
the financial year.

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 kind 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 (“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, no funds
have been received by the Company from any
person 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; and

(c) 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 (a) and (b)
contain any material misstatement.

v) The Company has not declared or paid dividend
during the year.

vi) Based on our examination of the books of account
and other relevant records of the Company, and
according to the information and explanations given

to us, and as mentioned in notes to account no. 43 and
44, we report that the Company has used accounting
software for maintaining its books of account which
has a feature of recording audit trail (edit log) facility.

Further, in accordance with the requirements of the proviso
to Rule 3(1) of the Companies (Accounts) Rules, 2014,
applicable with effect from April 1, 2023, the audit trail
feature has been operated throughout the financial year
ended March 31,2025, for all transactions recorded in the
software, and the audit trail has not been tampered with
and the audit trail has been preserved by the Company as
per the statutory requirements for record retention.

For D M K H & Co.

Chartered Accountants

Firm Registration No.: 116886W

Parin Shah

Partner

Membership No.: 606667
UDIN: 25606667BMJIWM6174

Place: Mumbai
Date: May 05, 2025