We have audited the accompanying statement of quarterly and year to date standalone
financial results of M/s. Gian Lifecare Limited (the “Company”) for the quarter ended March
31,2024, and for the year ended March 31, 2024 (the “Statement”), 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 (the “Listing
Regulations”).

In our opinion and to the best of our information and according to the explanations given to
us, the Statement.

I. Is presented in accordance with the requirements of Regulation 33 of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

II. gives a true and fair view in conformity with the recognition and measurement
principles laid down in the Indian Accounting Standards and other accounting
principles generally accepted in India of the net profit and other comprehensive
profit and other financial information for the quarter ended March 31,2024, as well
as year to date results for the period from April 1,2023 to 31 March 2024.

Basis for Opinion

We conducted our audit in accordance with the Standard on Auditing (SAs) specified under
section 143(10) of the Companies Act, 2013 (the Act). Our responsibility under those
Standards is further described in the Auditor's Responsibility for the Audit of the Standalone
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 statement 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 of our opinion.

Emphasis of Matter:

Maintaining Unreasonably High Balance of Cash in Hand

We draw attention to the Note relating to “Cash and Bank balances” in the financial
statements, which describes the Company's policy of maintaining an unreasonably high
balance of cash throughout the year. As auditors, it is our responsibility to express an opinion
on whether the financial statements are prepared, in all material respects, in accordance with
the applicable financial reporting framework.

While there is no inherent impropriety in maintaining a high cash balance, it is important to
note that the Company's practice of consistently holding an unreasonably high amount of cash
may have significant implications on the financial position and operations.

Management is responsible for the determination of the appropriate cash levels required to
meet the Company's operational needs, liquidity requirements, and risk management
objectives. We recommend that the Company evaluates its cash management policies and
practices, considering factors such as opportunity costs, potential investment returns, and
potential alternative uses of funds to optimize the utilization of available resources.

Our opinion is not modified with respect to this matter, and we do not express a separate
opinion on the Company's cash management policies and practices. However, we consider it
important to draw the users' attention to this matter, as it may have a significant impact on the
financial position and performance of the Company.

Management’s Responsibilities for the Standalone Financial Results

The Statement have been prepared on the basis of the standalone financial statements. The
Company’s Board of Directors are responsible for the preparation of the Statement that give
a true and fair view of the net profit and other comprehensive profit and other financial
information in accordance with the recognition and measurement principles laid down in Indian
Accounting Standard 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
Statement that give a true and fair view and are free from material misstatement, whether due
to fraud or error.

In preparing the standalone financial results, 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 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 statement as a whole is
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 statement, 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 on whether the Company has
adequate internal financial control with reference to financial statements in place and
operating effectiveness of such control.

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

• Conclude on 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 statement, 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.

Other Matter

The Statement includes the results for the quarter ended March 31,2024, being the balancing
figure between the audited figures in respect of the full financial year ended March 31, 2024,
and the unaudited year - to date figures up to the third quarter of the current financial year as
per books of accounts.

Our conclusion on the Statement is not modified in respect of this matter.

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 in terms of Section 143(11) of the Act, we give in “Annexure A” a
statement on the matters specified in paragraphs 3 and 4 of the Order.

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 Balance Sheet, the Statement of Profit and Loss including Other Comprehensive
Income, Statement of Changes in Equity and the Statement of Cash Flows dealt with
by this Report agree with the books of account.

d) In our opinion, the aforesaid standalone financial statements comply with the Indian
Accounting Standards prescribed under Section 133 of the Act, read with Companies
(Indian Accounting Standards) Rule 2015, as amended.

e) On the basis of the written representations received from the directors as on
March 31, 2024, taken on record by the Board of Directors, none of the directors is
disqualified as on March 31, 2024, 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 other matters to be included in the Auditor’s Report in accordance
with the requirements of section 197(16) of the Act, as amended:

h) In our opinion and to the best of our information and according to the explanations
given to us, the remuneration paid by the Company to its directors during the year is

in accordance with the provisions of section 197 of the Act.

i) 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 does not have any pending litigations which would impact on
its financial position.

ii. The Company did not have any long-term contracts including derivative
contracts for which there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company.

iv. (a) The Management has represented that, to the best of its knowledge and
belief, no funds (which are material either individually or in the aggregate)
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 person or entity, including foreign entity (“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 (which are material either individually or in the aggregate)
have been received by the Company from any person or entity, including
foreign entity (“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;

(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 (i) and
(ii) of Rule 11(e), as provided under (a) and (b) above, contain any material
misstatement.

v. Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for

maintaining books of account using accounting software which has a feature
of recording audit trail (edit log) facility is applicable to the Company with
effect from April 1, 2023, and accordingly, company's accounting software
do not has a feature for recording an audit trail (edit log) that is non¬
configurable and operational throughout the year for all transactions
recorded in the software._

For MSNT & ASSOCIATES LLP

Chartered Accountants

Firm Registration NO.018542C/C400322

Navodit Tyagi
Partner

Membership No.-533375
UDIN No: 24533375BKFJMJ4053
Place: Noida
Date: 30/05/2024