We have audited the Financial Results For The Year ended March 31, 2025 audit the Financial Results for the Year
ended March 31, 2025 (refer 'Other Matters' section below). which were subject to limited review by us, both
Included in the accompanying "Statement of Financial Results for the year ended March 31, 2025" of Riddhi Steel
And Tube Limited ("the Company"}, being Submitted by the Company pursuant to the requirements of Regulation
33 of the SEBI (Listing Obligations and Disclosure Requirements Regulations, 2015. as amended ("the Listing
Regulation") including relevant circulars issued by the Securities and Exchange Board of India [SEBI] from time
to time.
in our opinion and to the best of our information and according to the explanation given to us these
financial results:
(a) is presented in accordance with the requirements of vi Regulation 33 of the SEBI (Listing
Obligations and disclosure Requirements) Regulations,2015 in this regard; and
(b) gives a true and fair view in conformity with the recognition and measurement principles laid
down ip Accounting Standards specified under Section 133 of the companies Act 2013) ( the
Act”), read with relevant rules issued thereunder and other accounting principles generally accepted in India of the net profit and other financial information of the Company for the year
then ended.
Z- Basis for Opinion on the Audited Financial Results for the year ended March 31, 2025
We conducted our audit of the Financial statements in accordance with the Standards on Auditing specified under
Section 143(10) of the Act. Our responsibility under those Standards are further described In Auditor's
Responsibility for the Audit of the financial statements section of our report. We are independent of the company
in accordance of with code of ethics issued by ICAI together with the independence requirement that are relevant
to
our audit of financial Statement under the provisions of the Act and the rule made there under, and we have
fulfilled our other ethical responsibilities in accordance with, these requirements and the ICAI' Code of Ethics
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion.
3. Management's and Those Charged with Governance Responsibilities for the Statement
This Statement has been prepared on the basis of the annual financial statements. The
Company's Board of Directors is responsible for the preparation and presentation of the
Statement that gives a true and fair view of the net profit loss and other financial information
of the Company in accordance with the accounting principles generally accepted in India,
including Accounting Standards prescribed under Section 133 of the Act, read with relevant
rules issued thereunder and other accounting principles generally accepted in India, and in
compliance with Regulation 33 of the Listing Regulations including SEBI Circular. 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 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 Statement that gives a true and fair view and is free
from material misstatement, whether due to fraud or error.
In preparing the Statement, 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 Board of Directors is also responsible for overseeing the Company's financial reporting
process.
4. Auditor's Responsibility for the Audit of the Statement
Our objectives are to obtain reasonable assurance about whether 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 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 decision of users taken on the basis of these financial statements.
As a part of an audit in accordance with SAS, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also: 1
* Obtain an understanding of internal financial control relevant to the audit in order to
design audit procedure that are appropriate in the circumstances. Under section
143(3)(1) of the Act, we are also responsible for expressing our opinion on whether
the company has adequate internal financial control 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.
* Evaluate the appropriateness and reasonableness of disclosures made by the Board of
Directors in terms of the requirements specified under Regulation 33 of the Listing
Regulations.
* 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 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.
* Obtain sufficient appropriate audit evidence regarding the Annual Financial Results of
the Company to express an opinion on the Annual Financial Results.
Materiality is the magnitude of misstatements in the Annual Financial Results that, individually
or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable
user of the Annual Financial Results 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 Annual
Financial Results.
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.
S, Other Matters
The ’Statement induces the results for the Year ended March 31, 2025 being the balancing
figure between audited figures in respect of the full financial year and the published year to
date figures up to the year End of the current Financial year which were subject to limited
Review of Financial Statements conducted by us. Our report on the Statement is not modified
In respect of this matter.
For, Ashok Rajpara & Co.
Chartered Accountants
FRN: 153195W
ashok RAJPARA & CO.
M.NO, 100559 *
{CA ASHOK RAJPARA) CHARTERD ACCOUNTANTS
M. Not: 100559Place: Ahmedabad
Date :27/05/2025 UDIN; 251005598MNXZV3627
1
Identify and assess the risk of material misstatement of the financial statements,
weather due to fraud or error, design and perform audit procedure responsive to
those risk, and obtain evidence that us sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material misstatement resulting from fraud
for one resulting from error, as fraud may involve collusion, forgery, intentional,
omission, misrepresentation, or the override of internal control.
| 