We have audited the accompanying Standalone Financial
Statements of DCX Systems Limited ("the Company"),
which comprise the Balance Sheet as at March 31, 2026,
the Statement of Profit and Loss (including Other
Comprehensive Income), the Statement of Changes in
Equity and the Statement of Cash Flows for the year ended
on that date and a summary of significant accounting
policies and other explanatory information (hereinafter
referred as the "Standalone Financial Statements").

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 ('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 as at March 31, 2026, its
profit, total comprehensive income, changes in equity and
its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the Standalone Financial
Statements 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 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 ICAI's code of ethics. We believe that
the audit evidence we have obtained by us is sufficient and
appropriate to provide a basis for our opinion on the
Standalone Financial Statements.

Emphasis of Matters

a. We draw attention to point No. 3 of Note 1, Significant
Accounting Policies forming part of financial
statements to the Standalone Financial Statements
relating to the substantial reduction in export sales
during the year arising from lower business volumes
from the overseas customer. 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 financial year
ended March 31, 2026. We have determined that there are
no key audit matters to communicate in our report.

Information other than the Standalone Financial
Statements and Auditors' Report thereon

The Company's Board of Directors are responsible for the
preparation of the other information. The other information
comprises the information included in the Board's Report
including Annexure(s) to Board's 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 during the
course of our 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.

Management's responsibility for the 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 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 accounting principles generally

accepted in India, including the Indian Accounting
Standards ("Ind-AS") specified under section 133 of the Act
read with the Companies (Indian Accounting Standards)
rules 2015 as amended.

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 Standalone Financial
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 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 also responsible for overseeing
the Company's financial reporting process.

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

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 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 statements 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 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 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 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.

Materiality is the magnitude of misstatements in the
Standalone Financial Statements that, individually or in
aggregate, makes it probable that the economic decisions
of a reasonably knowledgeable user of the 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 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 Standalone Financial
Statements for the year ended March 31, 2026, 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 Companies Act, 2013, we give in the Annexure "A",
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 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,
and the Cash Flows Statement dealt with by this
report are in agreement with the books of account;

d) In our opinion, the aforesaid Standalone Financial
Statements comply with the 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 March 31, 2026 taken on
record by the board of directors, none of the
directors is disqualified as on March 31, 2026 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) 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 by the Company to its
directors during the year is in accordance with
provision 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;

i. The Company has disclosed the impact of
pending litigations on its financial position in
its Standalone Financial Statements - Refer
Note 44 to the Standalone Financial
Statements.

ii. The 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 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 person(s) or
entity(ies), including foreign entities
("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, other than
as disclosed in the notes to the accounts, no
funds have been received by the company from
any person(s) or entity(ies), including foreign
entities ("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 audit procedures which we
considered reasonable and appropriate in the
circumstances, nothing has come to our
notices that has caused us to believe that the
representations under sub-clause (a) and (b)
contain any material misstatement.

v. The company has not declared or paid any
dividend during the year in contravention of the
provisions of section 123 of the Companies
Act, 2013.

vi. 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 facility is
applicable to the Company with effect from
April 1, 2023, Company has complied with the
said rule.

For NBS & CO.

Chartered Accountants

Firm Registration No.110100W

CA Pradeep Shetty

Partner

Membership No. 046940

UDIN: 26046940PYHISM5584

Place: Bengaluru

Date: 27-05-2026