We have audited the accompanying standalone annual financial results of DAMODAR INDUSTRIES LIMITED (hereinafter referred
to as the 'company') for the year ended 31st March 2026 and ("standalone annual financial results") attached herewith, being
submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us these standalone Annual
financial results:

We are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard and 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 loss and other comprehensive income and
other financial information for the year ended 31st March 2026.

Basis for Opinion

We have audited the quarterly financial results of DAMODAR INDUSTRIES LIMITED for the quarter ended 31st March 2026 and
the year-to-date results for the period 1st April 2025 to 31st March 2026, attached herewith, being submitted by the company
pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
These quarterly financial results as well as the year-to-date financial results have been prepared on the basis of the interim
financial statements, which are the responsibility of the company's management. Our responsibility is to express an opinion on
these financial results based on our audit of such interim financial statements, which have been prepared in accordance with
the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34) for Interim Financial
Reporting, prescribed, under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder; or by the
Institute of Chartered Accountants of India, as applicable and other accounting principles generally accepted in India.

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 Standards are further described in the Auditor's Responsibilities [or the
Audit of the Standalone 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 results 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 annual
financial result.

Management’s and Board of Directors Responsibilities for the Standalone Annual Financial Results.

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

The Company's Management and Board of Directors are responsible for the preparation and presentation of these consolidated
annual financial results that give a true and fair view of the net loss and other comprehensive income and other financial
information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34,
'Interim Financial Reporting' 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. 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 standalone financial
results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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

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

Our objectives are to obtain reasonable assurance about whether the standalone 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 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 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 standalone 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 the audit in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal
control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by the Management and Board of Directors.

• Conclude all the appropriateness of the 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 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 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 standalone financial results, including the disclosures,
and whether the financial results 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.

Devpura Navlakha & Co

Chartered Accountants
FRN:121975W

Name: Satyendra Lahoti

Partner

Membership Number: No. 135975
Place of signature: Mumbai
Date: 15/05/2026
UDIN: 26135975VDIWEA1977