We have audited the accompanying Ind AS Standalone Financial Statements of Aayush Wellness Limited ('the
Company'), which comprise the balance sheet as at 31st March, 2025 the statement of profit and loss (including
other comprehensive income), the statement of cash flows and the statement of changes in equity for the year
the period 1st April, 2024 to 31st March, 2025 and notes to the Standalone financial statements, including a
summary of significant accounting policies and other explanatory information (hereinafter referred to as “Ind
AS Standalone Financial Statements”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Ind
AS 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 prescribed
under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended,
('Ind AS') and other accounting principles generally accepted in India, of the state of affairs of the Company for
the period 1st April, 2024 to 31st March, 2025 and the profits (including other comprehensive income), changes
in equity and its cash flows for the year ended 31st March, 2025.
Basis for Opinion
We conducted our audit of the Ind AS Standalone Financial Statements 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 Ind AS 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 independence requirements that are relevant to our
audit of the Ind AS Standalone Financial Statements under the provisions of the Act and the Rules made
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and
the ICAI's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the Ind AS Standalone Financial Statements.
Key Audit Matters
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.
Principal Audit Procedures
Our audit consisted testing of the design and operating effectiveness of the internal controls and substantive
testing as follows:
• We evaluated the design of internal controls relating to revenue recognition.
• We selected sample of Sales transactions and tested the operating effectiveness of the internal control
relating to revenue recognition.
• We carried out a combination of procedures involving enquiry and observation, re performance and
inspection.
• We have tested sample of Sale transactions to their respective customer contracts, underlying invoices and
related documents.
• We have performed cut-off procedures for sample of revenue transactions at year-end in order to conclude
on whether they were recognized in accordance with Ind-AS 115.
Other Information - Information other than the Standalone financial statements and Auditor's Report
thereon
The Company's Board of Directors is 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 such 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 communicate the matter to those charged with Governance. We have nothing to
report in this regard.
Responsibilities of Management Ind AS Standalone Financial Statements
The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect
to the preparation of these Ind AS Standalone Financial Statements that give a true and fair view of the financial
position, financial performance, total comprehensive income, changes in equity and cash flows of the Company
in accordance with the Ind AS prescribed under section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended, 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 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 Ind AS Standalone Financial Statements that give a true and
fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Ind AS Standalone Financial Statements, management 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 management either intends to liquidate the Company or to
cease operations, or has no realistic alternative but to do so.
The Board of Directors are responsible for overseeing the Company's financial reporting process.
Auditor's Responsibility for the Audit of the Ind AS Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the Ind AS 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 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 Ind AS Standalone Financial
Statements.
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 Ind AS 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 Companies Act, 2013, we are also
responsible for expressing our opinion on whether the company has adequate internal financial controls
system 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 management's 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 Ind AS 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.
• Evaluate the overall presentation, structure and content of the Ind AS Standalone Financial Statements,
including the disclosures, and whether the Ind AS Standalone Financial Statements represent the underlying
transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the Ind AS Standalone financial statements that, individually or
in the aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Ind
AS Standalone financial statements 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 Ind AS
Standalone financial statements.
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.
From the matters communicated with those charged with governance, we determine those matters that were of
most significance in the audit of the 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
1. As required by the Companies (Auditor's Report) Order, 2020 ("the Order"), issued by the Central Government
of India in terms of sub-section (11) of section 143 of the Act, we give in the ‘Annexure A' statement on the
matters specified in paragraphs 3 and 4 of the Order to the extent applicable.
2. As required by section 143(3) of the Act, 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 purpose 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, the Statement
of Cash Flow, and the Statement of changes in equity dealt with by this Report are in agreement with the
books of account;
d. In our opinion, the aforesaid Ind AS Standalone Financial Statements comply with the Indian Accounting Standards
specified under Section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015, as
amended.
e. On the basis of the written representations received from the directors as on 31st March, 2025 taken on
record by the Board of Directors, none of the directors is disqualified as on 31st March, 2025 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 in our opinion and to the best of our information
and according to the explanations given to us, the remuneration paid or provided by the company to its
directors during the year is in accordance with the provisions of section 197 of the Act.
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, in our opinion and to the best of our information and according
to the explanations given to us:
1. The Company has disclosed the impact of pending litigations in its financial position in the Ind AS Standalone
Financial Statements.
2. The Company did not have any long-term contracts including derivatives contracts for which there were
any material foreseeable losses.
3. The company was not required to transfer any amount to Investor Education and Protection Fund during the
financial year.
i. 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(s)
or entities, including foreign entities (“Intermediaries”), with the understanding whether recorded in
writing or not that the intermediary shall whether directly or indirectly lend or invest in other persons or
entities identified in any manner by or on behalf of the company (Ultimate Beneficiaries) or provide any
guarantee, security or the like on behalf of ultimate beneficiaries.
ii. 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(s) or entities
including foreign entities (“Funding Parties”) with the understanding that such 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 guarantee, security or the like on
behalf of the Ultimate beneficiaries.
iii. Based on such audit procedures that we have considered reasonable and appropriate in the circumstances,
nothing has come to our notice that has caused us to believe that the representations given under (i) and
(ii) above, contain any material misstatement.
iv. Based on our examination, which included test checks, the Company has used accounting software for
maintaining its books of account for the financial year ended on 31st March, 2025 which has a feature of
recording audit trail (edit log) facility and the same has operated throughout the year for all relevant
transactions recorded in the software. Further, during the course of our audit we did not come across any
instance of the audit trail feature being tampered with.
v. Based on our examination, during financial year 2024-25, your Company paid an interim dividend @ rate
of 01% (One Percent) i.e. Rs. 0.01/- (One paisa only) per equity share having face value of Re. 01/- (Rupee
One only) each, for the quarter ended December 31, 2024.
With respect to the matters specified in paragraphs 3(xxi) and 4 of the Companies (Auditor's Report) Order,
2020 (the “Order”/”CARO”) issued by the Central Government in terms of section 143(11) of the Act, to be
included in the Auditor's Report, according to the information and explanations given to us and based on the
CARO report issued by us for the company and its subsidiaries included in the consolidated financial
statements of the company, to which reporting under CARO is applicable, we report that there are no
qualifications or adverse remarks in these CARO Reports.
For Bakliwal & Co.
Chartered Accountants
Firm Reg. No: 130381W
Sd/-
Aayush Dodiya
Partner
Membership No.: 181925 Date: 30.05.2025
UDIN: 25181925BMKNTN2005 Place: Jaipur
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