We have audited the accompanying standalone financial statements of M/s ENERGY-MISSION
MACHINERIES (INDIA) LIMITED (formerly known as Energy-Mission Machineries (India)
Private Limited) (“the Company”), which comprise the Balance Sheet as at 31st March, 2025, the
Statement of Profit and Loss and Cash Flow Statement for the year then ended, and a summary of the
significant accounting policies 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 Accounting
Standards specified under section 133 of the Act, read with Companies (Accounting Standards) Rules,
2021 and other accounting principles generally accepted in India, of the state of affairs of the Company
as at 31st March 2025, its profit and its cash flows for the year ended on that date.
Basis for 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 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 Companies Act, 2013 and
the Rules there under, 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.
Information other than the Financial Statements and Auditor’s Report thereon
The Company’s Board of Directors are responsible for the other information. The other information
comprises the information included in the Management Discussion and Analysis, Board’s Report
including Annexure to Board’s Report, Business Responsibility Report, Corporate Governance and
Shareholder’s Information, but does not include the 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 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 report that fact. We have nothing to report in this regard.
Management’s Responsibility for the Financial Statements
The accompanying standalone financial statements have been approved by the Company’s Board of
Directors.
The Company’s Board of Directors are responsible for the matters stated in Section 134(5) of the
Companies Act, 2013 (“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 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 the Companies (Accounts)
Rules, 2014.
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, 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. Those Board of Directors
is also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibility
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.
As part of an audit in accordance with Standards on Auditing specified under section 143(10) of the Act,
we exercise professional judgment andmaintain 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 Act, we are
also responsible for expressing our opinion on whether the Company has adequate internal
financial controls with reference to standalone financial statements 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 Board of Directors' 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; and
• 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.
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.
Report on Other Legal and Regulatory Requirements
1. As required by Section 143 (3) of the Act, based on our audit, we report, to the extent applicable,
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 accompanying
standalone financial statements.
(b) In our opinion, proper books of account as required by the law have been kept by the Company
so far as it appears from our examination of those books.
(c) The standalone financial statements 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 the Companies (Accounting
Standard) Rules, 2021.
(e) On the basis of the written representations received from the directors and 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 with reference to standalone
financial statements of the Company as on 31 March 2025 and operating effectiveness of such
controls, refer to our Separate Report in ‘Annexure A’ wherein we have expressed a
unmodified opinion and
(g) 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, as detailed in note 29 to the standalone financial statements, has
disclosed the impact of pending litigations on its financial position as at 31 March 2025.
ii. The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses as at 31 March 2025;
iii. There were no amounts which were required to be transferred to the Investor Education
and Protection Fund by the Company during the year ended 31 March 2025;
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 (“The 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 (“The 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 (“The 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 such audit procedures that the auditor has considered reasonable and
appropriate in the circumstances, nothing has come to their notice that has caused them
to believe that the representations under sub-clause (i) and (ii) contain any material
misstatement.
v. The Company has not declared or paid any dividend during the year ended 31 March
2025 by the company.
vi. Based on our examination which included test checks, the company has used an
accounting software for maintaining its books of account for the financial year ended
31 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 and verification of transactions
recorded during the year on sample basis we did not come across any instance of audit
trail feature being tampered with.
2. 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.
for and on behalf of
S S P J & Co.
Chartered Accountants
Reg. No. 018083N
CA Sujata Kapila
Partner
M. No. 515235
Date: 24/05/2025
UDIN: 25515235BMUIEY9950
Place: Ahmedabad
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