We have audited the accompanying financial statements of Pratik Panels Limited ("the
Company"), which comprise the balance sheet as at 31st March 2025, and the statement of Profit
and Loss, statement of changes in equity and 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 (hereinafter referred to as "Financial Statements")

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 principles generally accepted in India, of the state of affairs of the Company as at
March 31, 2025, its profit ,changes in equity and its cash flows for the year ended on that date.

BASIS OF OPINION

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
section 143(10) of the Companies Act, 2013. 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 (ICAI) together with the ethical
requirements that are relevant to our audit of the financial statements 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.

Emphasis of Matter

We draw attention to Note 2.35 (a) to the financial statement that during the year Company
incurred a loss of Rs.8.40 lakh on account of theft of cash, in respect of which an FIR (No. 0371
dated 06.03.2025) has been lodged with the police authorities, and the said loss has been
disclosed under "Exceptional Items" in the Statement of Profit and Loss in accordance with the
requirements of Ind AS 1 and Schedule III of the Companies Act, 2013.

Our opinion is not modified in respect of this matter.

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 financial statements as a whole for the
year ended on March 31, 2025 and in forming our opinion thereon and we do not provide a
separate opinion on these matters. We do not have any key audit matter to be communicated
except as provided in emphasis of matter in the previous paragraph of this report.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters in section 134(5) of the
Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements
that give a true and fair view of the financial position, financial performance and cash flows of
the Company in accordance with the accounting principles generally accepted in India,
including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of
adequate accounting records in accordance with the provision of the Act for safeguarding of the
assets of the Company and for preventing and detecting the 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 internal
financial control, 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.

Auditor's Responsibilities for the Audit of Financial Statements

Our responsibility is to express an opinion on these financial statements based on our audit. We
have taken into account the provisions of the Act, the accounting and auditing standards and
matters which are required to be included in the audit report under the provisions of the Act
and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under section
143(10) of the Act. Those Standards require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether the financial statements
are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal financial control relevant to the Company's preparation of the financial
statements that give true and fair view in order to design audit procedures that are appropriate
in the circumstances. An audit also includes evaluating the appropriateness of accounting
policies used and the reasonableness of the accounting estimates made by Company's Directors,
as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion on the financial statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also :-

• We Identify and assess the risks of material misstatement of the 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 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 financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.

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 the terms of sub section (11) of section 143 of the Act, We give in the
"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, 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 appears from our examination of those books

c) The Balance Sheet and the Statement of Profit and Loss dealt with by this Report are in
agreement with the books of account.

d) In our opinion, the aforesaid financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014.

e) On the basis of written representations received from the directors as on 31 March, 2025,
taken on record by the Board of Directors, none of the directors is disqualified as on 31
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".

g) In our opinion, the managerial remuneration for the year ended March 31, 2025 has been
paid / provided by the Company to its directors in accordance with the provisions of
section 197 read with Schedule V to the Act;

h) With respect to the other matters included in the Auditor's Report and to our best of our
information and according to the explanations given to us :

(i) The Company does not have any pending litigations which would impact its financial
position

(ii) Company did not have any long-term contracts including derivatives contracts for
which there were any material foreseeable losses.

(iii) There were no amounts which are 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,
other than as disclosed in the notes to the accounts, no funds 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 persons or entities,
including foreign entities ("Intermediaries"), with the understanding (whether
recorded in writing or otherwise) that the Intermediary shall:

(i) 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

(ii) 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,
other than as disclosed in the notes to the accounts, no funds have been received
by the company from any persons or entities, including foreign entities ("Funding
Parties"), with the understanding (whether recorded in writing or otherwise) that

the company shall:(i) 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 (ii) provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries.

(c) Based on our Audit procedure performed that were considered reasonable and
appropriate in the circumstances, nothing has come to our attention that cause us
to believe that the representation given by the management under paragraph
(2)(h)(iv)(a) & (b) contain any material misstatements

(v) The Company has not declared and paid any dividend during the year

(vi) The company has maintained its books of account using accounting software
which has a feature of recording audit trail (edit log) facility, as required under
proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014, and the same has
been operated throughout the year for all transactions recorded in the software.
Further, the audit trail feature has not been tampered with and the audit trail has
been preserved by the company as per the statutory requirements

For H L SAINI AND CO

Chartered Accountants

FRN-136961W

H L Saini

Place: Mumbai Partner

Date: 30.05.2025 M. No.: 128301

UDIN- 25128301BMJQZJ7023