We have audited the accompanying Statement of quarterly and year-to-date Financial
Results of Sunil Industries Limited ("the Company") quarter ended 31st March, 2025 and
the year-to-date results for the period from 01st April 2024 to 31st March, 2025, ("the
Statement") attached herewith, being submitted by the Company pursuant to the
requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements),
Regulations, 2015 ('the Regulation') as amended.

In our opinion and to the best of our information and according to the explanations given
to us, the aforesaid annual financial results:

1. are presented in accordance with the requirements of Regulation 33 of the Listing
Regulations in this regard; and

2. give a true and fair view in conformity with the recognition and measurement
principles laid down in the applicable Indian Accounting Standards, and other
accounting principles generally accepted in India, of the net profit and other
comprehensive income and other financial information for the quarter ended 31st
March, 2025 as well as the year-to-date results for the period ended 01 April, 2024 to
31st March, 2025.

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 ("the Act"). Our responsibilities under
those SAs are further described in the Auditor's Responsibilities for the Audit of the
Annual Financial Results 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
financial statements under the provisions of the Act, 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 annual financial results.

Management's and Board of Directors' Responsibilities for the Annual Financial
Results

These annual financial results have been prepared on the basis of the annual financial
statements.

The Company's Management and the Board of Directors are responsible for the
preparation and presentation of these annual financial results that give a trust and fair
view of the net profit/ loss and other comprehensive income and other financial
information in accordance with the recognition and measurement principles laid down in

Indian Accounting Standards prescribed under Section 133 of the Act 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 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 the design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for
ensuring accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the annual financial results that give a true and fair view
and are free from material misstatement, whether due to fraud or error.

In preparing the annual financial results, the Management and 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 is responsible for overseeing the Company's financial reporting
process.

Auditor's Responsibilities for the Audit of the Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the annual financial
results 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 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 annual financial results.

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 annual financial results,
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
Act, we are also responsible for expressing our opinion through a separate report on the
complete set of financial statements on whether the company has adequate internal
financial controls with reference to financial statements 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 in the annual financial results made by the
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 appropriateness of this assumption. 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 annual financial results 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 annual financial results,
including the disclosures, and whether the annual financial results represent the
underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the Financial Results of the
Company to express an opinion on the Financial Results.

Materiality is the magnitude of misstatements in Financial Results that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable
user of the 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 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 he thought to bear on our
independence, and where applicable, related safeguards.

Other Matters

The Standalone Financial Results include the results for the quarter ended March 31, 2025
being the balancing figures between the audited figures in respect of the full financial year
and the published unaudited year to date figures up to the third quarter of the current
financial year which were subject to limited review by us.

For V.K. Beswal & Associates

Chartered Accountants

Firm Registration Number 101083W

CA Kunal V. Beswal

Partner

M.NO. 131054

UDIN: 25131054BMHXMW1614

Place: Mumbai
Date: 21.05.2025