We have audited the accompanying financial statements of DIGILOGIC SYSTEMS
LIMITED (Formerly known as DIGILOGIC SYSTEMS PRIVATE LIMITED) (the company) which
comprises the Balance Sheet as at March 31, 2025, the Statement of Profit and Loss,
Statement of Cash Flows for the period then ended and notes to the financial
statements, including a summary of significant accounting policies and other
explanatory information.

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
Act in the manner so required and give a true and fair view in conformity with the
accounting principles generally accepted in India;

a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31,
2025; and

b) In the case of the Statement of Profit and Loss, of the profit for the period ended on
that date;

c) In the case of the cash flow statement, of the cash flows for the period ended on that
date.

Basis for Opinion

We have 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 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.

Responsibility of Management for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in section
134(5] of the Companies Act, 2013 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. 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 implementation
and maintenance of 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 statement that give a true and fair view and are free
from material misstatement, whether due to fraud or error.

In preparing the 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 is also responsible for overseeing the company's financial
reporting process

Auditor’s Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the 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 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 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

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. The companies (Auditors report] order, 2020 (as amended] (The order] issued by
the Central Government of India in terms of Sub Section (11] of Section 143 of the companies Act 2013 is applicable to this company, refer to our separate report in"Annexure A".

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; the Statement of Profit and Loss and the Cash Flow Statement
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"; and

g. With respect to the other matters 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 does not have any pending litigations which would impact its
financial position

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

iii. There is no amount required to be transferred to investor education and
protection fund in accordance with the relevant provisions of the Companies Act,
2013. Hence delay in depositing the amounts to the said fund is not applicable.

iv.

a] 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 or entity, including foreign entity(intermediaries], with the understanding directly or indirectly lend or invest in other persons or entity
identified in any manner whatsoever by nr on behalf of the company(ultimate

beneficiaries) or provide any guarantee, security or the like on behalf of th
ultimate beneficiaries;

b) 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 or entity, including
foreign entity (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 entity's 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 that have been considered that are 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), as provided under (a) and (b) above, contain any material
misstatement.

d) During the financial year, the company has not declared any dividend.

e) Based on our examination and representations received from the company,
the accounting software used by the company for maintenance of its books of
accounts contains the feature of recording audit trail (edit log) facility which
is required as per proviso to Rule3(l) of Companies (Accounts) Rules, 2014.1n
our opinion, it is preserved and not tampered for FY 2024-25.

For B. Srinivasa Rao & Co.,

Chartered Accountants
FRN: 008763S

M Ranga Rai Chowdary

Partner
M. No: 243733

UDIN: 25243733BMHZVL8143

Place: Hyderabad
Date: 03-08-2025.