We have audited the accompanying standalone financial statements of
C.E. Info Systems Limited (“the Company”), which comprise the Standalone
Balance Sheet as at March 31, 2026, and the Standalone Statement of Profit and
Loss (including Other Comprehensive Income), the Standalone Statement of
Changes in Equity and the Standalone Statement of Cash Flows for the year then
ended, and notes to the standalone financial statements, including material
accounting policy information and other explanatory information (hereinafter
referred to 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 (“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 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, and its profit (including other comprehensive income), changes
in equity and 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 Act. Our responsibilities under those SAs 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 is sufficient and
appropriate to provide a basis for our opinion on these 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 year. 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. 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

The Company’s Board of Directors is responsible for the other information.
The other information comprises the information included in the Annual
Report 2025-26 of the Company but does not include the standalone financial
statements and our auditor’s report thereon. The Annual Report is expected
to be made available to us after the date of this auditor’s report. Our opinion
on the standalone financial statements does not cover the other information
and we will 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 identified above 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.

When we read the annual report, if we conclude that there is a material
misstatement therein, we are required to communicate the matter to those
charged with governance.

Responsibilities of Management and Board of Directors for the Standalone
Financial Statements

The Company’s Management and Board of Directors are 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, changes in equity and cash flows
of the Company in accordance with the accounting principles generally
accepted in India, including the Indian Accounting Standards specified
under Section 133 of the Act. 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 statements 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, the Board of Directors of
the Company are 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.

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

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 standalone financial statements.

We give in “Annexure-A” a detailed description of Auditor’s responsilities for
audit of the standalone financial statements.

Other Matter

The standalone financial statements of the Company for the previous year
ended March 31, 2025, were audited by another auditor whose report dated
May 9, 2025 expressed an unmodified opinion on those statements.

Our opinion is not modified in respect of this matter.

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 “Annexure-B” 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 of the aforesaid standalone financial
statements.

b) In our opinion, proper books of account as required by law relating
to preparation of the aforesaid standalone financial statements have
been kept by the Company so far as it appears from our examination
of those books except for the matters stated in the paragraph 2(h)(vi)
below on reporting under Rule 11(g).

c) The Standalone Balance Sheet, the Standalone Statement of Profit
and Loss (including other comprehensive income), the Standalone
Statement of Changes in Equity and the Standalone Statement of
Cash Flows dealt with by this Report are in agreement with the
books of account maintained for the purpose of preparation of the
standalone financial statements.

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

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 are disqualified as on March 31, 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 2(b) above
on reporting under Section 143(3)(b) and paragraph 2(h)(vi) below on
reporting under Rule 11(g).

g) With respect to the adequacy of the internal financial controls with
reference to standalone financial statements of the Company and
the operating effectiveness of such controls, refer to our separate
Report in “Annexure-C”.

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
XX to the standalone financial statements.

ii. The Company did not have any long-term contracts including
derivative contracts for which there were any material foreseeable
losses.

iii. There are no amounts which are required to be transferred to the
Investor Education and Protection Fund by the Company during the
year ended March 31, 2026.

iv. (a) To the best of our knowledge and belief, as disclosed in the
note X to the standalone financial statements, 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, 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) To the best of our knowledge and belief, as disclosed in the
note X to the standalone financial statements, 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, 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.

(c) Based on the audit procedures performed that have been
considered reasonable and appropriate in the circumstances,
nothing has come to our notice that has caused us to believe that the
representations under sub-clause (i) and (ii) of Rule 11(e) contain any
material mis-statement.

v. The final dividend paid by the Company during the year in respect of
the same declared for the previous year is in accordance with Section
123 of the Companies Act 2013 to the extent it applies to payment of
dividend.

The Board of Directors of the Company have proposed final dividend
for the current year 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. (Refer Note 16 to the standalone financial
statements).

vi. Based on our examination which included test checks, the Company
has used an accounting software for maintaining its books of account
(managed and maintained by a third-party software service provider)
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 except that we are unable
to comment on audit trail at database level due to absence of SOC
report.

Further, where enabled, during the course of our audit, we did not
come across any instance of audit trail feature being tampered with.
Additionally, the audit trail of prior years has been preserved by the
Company as per the statutory requirements for record retention to
the extent it was enabled and recorded in FY 2023-24 and 2024-25.

With respect to payroll software, which is managed and maintained
by a third-party software service provider, in the absence of sufficient
and appropriate audit evidence including SOC report, we are unable
to comment whether the accounting software has a feature of
recording audit trail (edit log) facility and whether the same has
operated throughout the year for all relevant transactions recorded
in the software or whether there is any instance of audit trail feature
being tampered with. Additionally, we are unable to comment
whether the audit trail of prior years has been preserved by the
Company as per the statutory requirements for record retention
prescribed under Rule 11(g) of the Companies (Audit and Auditors)
Rules, 2014.

. In our opinion, according to information, explanations given to us, the
remuneration paid or provided by the Company to its directors are
within the limits laid prescribed under Section 197 of the Act.

Place: Gurugram For MSKA & Associates LLP

Date: May 19, 2026 (Formerly known as MSKA &

Associates)

Chartered Accountants

ICAI Firm Registration Number :

105047W/W101187

Sd/-Vinod Gupta

Partner

Membership No.: 503690

UDIN: 26503690WXCVDK4830