1. We have audited the accompanying standalone financial statements of SPR Auto Technologies Limited (formerly
Shriram Pistons & Rings Limited) (‘the Company’), which comprise the Standalone Balance Sheet as at 31 March 2026,
the Standalone Statement of Profit and Loss (including Other Comprehensive Income), the Standalone Statement of
Cash Flow and the Standalone Statement of Changes in Equity for the year then ended, and notes to the standalone
financial statements, including material accounting policy information and other explanatory information.

2. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone
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 Indian Accounting Standards (‘Ind AS’) specified under section
133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015 and other accounting principles
generally accepted in India, of the state of affairs of the Company as at 31 March 2026, and its profit (including other
comprehensive income), its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing 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 Standalone 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 (‘ICAI’) together with the ethical
requirements that are relevant to our audit of the standalone 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.

Key Audit Matter

4. Key audit matters are those matters that, in our professional judgment, were of most significance in our audit
of the standalone financial statements of the current period. These matters were addressed in the context of
our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not
provide a separate opinion on these matters.

5. We have determined the matter described below to be the key audit matter to be communicated in our report.

Information other than the Standalone Financial Statements and Auditor's Report thereon

6. The Company’s Board of Directors are responsible for the other information. The other information comprises
the information included in the Annual Report, but does not include the standalone financial statements and
our auditor’s report thereon.

Our opinion on the standalone 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 standalone financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
standalone 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.

Responsibilities of Management and Those Charged with Governance for the Standalone Financial
Statements

7. The accompanying standalone financial statements have been approved by the Company’s Board of Directors.
The Company’s Board of Directors are responsible for the matters stated in section 134(5) of the Act with respect
to the preparation and presentation of these standalone financial statements that give a true and fair view of
the financial position, financial performance including other comprehensive income, changes in equity and cash
flows of the Company in accordance with the Ind AS specified under section 133 of the Act and other accounting
principles generally accepted in India. 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 financial statements
that give a true and fair view and are free from material misstatement, whether due to fraud or error.

8. In preparing the standalone financial statements, 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.

9. The Board of Directors is also responsible for overseeing the Company’s financial reporting process.

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

10. Our objectives are to obtain reasonable assurance about whether the standalone 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 a high level of assurance, but is not a guarantee that an audit
conducted in accordance with Standards on Auditing 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 statements.

11. As part of an audit in accordance with Standards on Auditing, specified under section 143(10) of the Act we
exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone financial statements, 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 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 made by management;

• Conclude on the appropriateness of 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 standalone 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; and

• Evaluate the overall presentation, structure and content of the standalone financial statements, including
the disclosures, and whether the standalone financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.

12. 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.

13. 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.

14. From the matters communicated with those charged with governance, we determine those matters that were
of most significance in the audit of the standalone financial statements of the current period and are therefore
the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes
public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter
should not be communicated in our report because the adverse consequences of doing so would reasonably
be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

15. As required by section 197(16) of the Act, based on our audit, we report that the Company has paid remuneration
to its directors during the year in accordance with the provisions of and limits laid down under section 197 read
with Schedule V to the Act.

16. As required by the Companies (Auditor’s Report) Order, 2020 (‘the Order’) issued by the Central Government of
India in terms of section 143(11) of the Act we give in the Annexure ‘A’, a statement on the matters specified in
paragraphs 3 and 4 of the Order, to the extent applicable.

17. Further to our comments in Annexure ‘A’, as required by section 143(3) of the Act based on our audit, we report,
to the extent applicable, 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 purpose of our audit of the accompanying standalone financial statements;

b) Except for the matters stated in paragraph 17(h)(vi) below on reporting under Rule 11(g) of the Companies
(Audit and Auditors) Rules, 2014 (as amended), 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 standalone financial statements dealt with by this report are in agreement with the books of account;

d) In our opinion, the aforesaid standalone financial statements comply with Ind AS specified under section
133 of the Act;

e) On the basis of the written representations received from the directors and taken on record by the Board
of Directors, none of the directors is disqualified as on 31 March 2026 from being appointed as a director
in terms of section 164(2) of the Act;

f) The modification relating to the maintenance of accounts and other matters connected therewith are
as stated in paragraph 17(b) above on reporting under section 143(3)(b) of the Act and paragraph 17(h)(vi)
below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (as amended);

g) With respect to the adequacy of the internal financial controls with reference to financial statements of
the Company as on 31 March 2026 and the operating effectiveness of such controls, refer to our separate
report in Annexure ‘B’ wherein we have expressed an unmodified opinion; and

h) 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, as detailed in note 41 to the standalone financial statements, has disclosed the
impact of pending litigations on its financial position as at 31 March 2026;

ii. the Company did not have any long-term contracts including derivative contracts for which there
were any material foreseeable losses as at 31 March 2026;

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor
Education and Protection Fund by the Company during the year ended 31 March 2026;

iv.

a. The management has represented that, to the best of its knowledge and belief, other
than as disclosed in note 43 (i) to the standalone financial statements, no funds have been
advanced or loaned or invested (either from borrowed funds or securities premium or any
other sources or kind of funds) by the Company to or in any person(s) or entity(ies), including
foreign entities (‘the 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 (‘the
Ultimate Beneficiaries’) or provide any guarantee, security or the like on behalf the Ultimate
Beneficiaries;

b. The management has represented that, to the best of its knowledge and belief, as disclosed
in note 43 (iii) to the standalone financial statements, no funds have been received by the
Company from any person(s) or entity(ies), including foreign entities (‘the 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; and

c. Based on such audit procedures performed as considered reasonable and appropriate in
the circumstances, nothing has come to our notice that has caused us to believe that the
management representations under sub-clauses (a) and (b) above contain any material
misstatement.

v. The interim dividend declared and paid by the Company during the year ended 31 March 2026 and
until the date of this audit report is in compliance with section 123 of the Act.

The final dividend paid by the Company during the year ended 31 March 2026 in respect of such
dividend declared for the previous year is in accordance with section 123 of the Act to the extent it
applies to payment of dividend.

As stated in note 15 (g) to the accompanying standalone financial statements, the Board of Directors
of the Company have proposed final dividend for the year ended 31 March 2026 which is subject to
the approval of the members at the ensuing Annual General Meeting. The dividend declared is in
accordance with section 123 of the Act to the extent it applies to declaration of dividend.

vi. As stated in note 67 to the standalone financial statements and based on our examination which
included test checks, the Company, in respect of financial year commencing on 01 April 2025, has

used an accounting software for maintaining its books of account which has a feature of recording
audit trail (edit log) facility and the same has been operated throughout the year for all relevant
transactions recorded in the software. Further, with effect from 01 January 2026, the accounting
software used for maintenance of accounting records is operated by a third-party software
service provider. In the absence of any information on existence of audit trail (edit logs) for any
direct changes made at the database level in the ‘Independent Service Auditor’s Assurance Report
on the Description of Controls, their Design and Operating Effectiveness’ (‘Type 2 report’ issued
in accordance with SAE 3402, Assurance Reports on Controls at a Service Organization), we are
unable to comment on whether audit trail feature with respect to the database of the said software
was enabled and operated throughout the year. Further, during the course of our audit we did not
come across any instance of audit trail feature being tampered with. Furthermore, the audit trail
has been preserved by the Company as per the statutory requirements for record retention from
the date the audit trail was enabled for the accounting software.

For Walker Chandiok & Co LLP

Chartered Accountants
Firm’s Registration No.: 001076N/N500013

Rahul Kool

Partner

Membership No.: 425393
UDIN: 26425393UQNWNR8809

Place: New Delhi
Date: 11 May 2026