INDEPENDENT AUDITORS’ REPORT

TO

THE BOARD OF DIRECTORS OF
EVOQ REMEDIES LIMITED
CIN: L24230GJ2010PLC059692

Report on the Financial Statements

We have audited the Financial Statements of EVOQ REMEDIES LIMITED
L24230GJ2010PLC059692 ("the Company"), which comprise the Balance Sheet as at 31st
March 2023, the Statement of Profit and Loss, Statement of Cash Flows for the year then ended
and notes to the financial statements, including a summary of significant accounting policies
and other explanatory information.

Auditor Opinion

In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid 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
Accounting Standards prescribed under section 133 of the Act and other accounting principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2023, the
Profit and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
section 143(10) of the Act. Our responsibilities under those Standards are further described in
the Auditor's Responsibilities for the Audit of the 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 together with the ethical requirements that are
relevant to our audit of the financial statements under the provisions of the Act and the Rules
there under, 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.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the financial statements of the current period. These matters were
addressed in the context of our audit of the financial statements as a whole, and in forming our
opinion thereon, and we do not provide a separate opinion on these matters. We have key audit
matter to communicate in our report as under

1. The company has demand in income tax portal of Rs. 86.72lacs for AY2021-22 & 2022-23

2. No provisions for interest have been made on unsecured loan.

3. In FY 2021-22 company has raised money of Rs. 9.72crores public issue of equity shares

including premium Rs. 17/- per share. As inform to us the utilization of said fund as per
draft red hearing prospectus for working capital.

4. The transactions with related party have been shown in point no 2 of notes of accounts.

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, Business Responsibility
Report, Corporate Governance and Shareholder's Information, but does not include the
Financial Statements and our auditor's report thereon.

Our opinion on the 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 financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained in the 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 except noted in key audit matter.

For, J M Patel & Bros.
Chartered Accountants
Reg. No. 107707W

Place: Ahmedabad CA JASWANT M PATEL

Date:25/05/2023 (PROPERITOR)

UDIN: 23030161BGRRQT7590 Mem. No. 030161