We have audited the accompanying Standalone financial statements of Alankit Limited ('the
Company'), which comprise the Standalone Balance Sheet as at 31 March 2026, the Standalone
Statement of Profit and Loss (including the statement of Other Comprehensive Income), the Cash
Flow Statement and the Statement of Changes in Equity for the year then ended and notes to the
standalone financial statements including a summary of the material 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 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 principles generally accepted in India including Indian Accounting Standards(“
Ind AS”) specified 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 (financial position) of the Company as at 31 March, 2026, and its
profit (financial performance including other comprehensive income), its cash flows and the
changes in equity 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 (“SA” s) specified under section 143(10) of the Act. 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 made 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 obtained by us is sufficient and appropriate to provide a basis for
our audit opinion on the Standalone financial statements.

Emphasis of Matter

Attention is invited to the following matters in the Notes to the Financial Statements:

• We draw attention to note no.39(A) of the standalone financial results which describes that the
company has received demand notice amounting to Rs 16,470.46 lakhs, under section 156 of the
Income Tax Act 1961; with respect to A.Y. 2011-12 to A.Y. 2020-21. The company has filed an appeal
before the appropriate authorities against the said tax demand. As per the legal opinion obtained
by the company the said demand is not tenable.

• We draw attention to "Other Non Current Assets" of the financial statements, which includes the
payment amounting to f 5,393.00 Lakhs for the purchase of immovable property from a related

party. As of the reporting date, the legal title of the property is yet to be transferred in the name of
the Company.

• We draw attention to Note no.42(b) of the Statement which describes that the Company, during the
year ended 31 March 2026, has written back trade payables amounting to f 865.90 lakhs and
written off trade receivables amounting to f 1,285.39 lakhs. These transactions have a significant
impact on the financial statement for the period.

Our opinion on the statements is not modified in respect of this matter.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most significance
in our audit of the Standalone financial statements for the financial year ended 31st March, 2026.
These matters were addressed in the context of our audit of the 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 matters described below to be the key audit matters to be communicated in our
report. We have fulfilled the responsibilities described in the Auditor's Responsibility for the Audit
of the Standalone Financial Statements.

Accordingly, our audit included the performance of procedures designed to respond to our
assessment of the risks of the material misstatement of the Standalone Financial Statements. The
results of our audit procedure provide the basis for our audit opinion on the accompanying
Standalone Financial Statements.

We have determined the following key audit matter to be communicated in our report.

Information Other than the Financial Statements and Auditor's Report thereon

The Company's Management and 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 Annexures to Board's Report, Business Responsibility report,
Corporate Governance and shareholder's information, 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 identified above when it becomes available 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
materially misstated.

If, based on the work we have performed on the other information obtained prior to the date of
this auditor's report, 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.

Responsibilities of Management and those Charged with Governance for the Financial
Statements

The Company's Management and 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 state of affairs, profit/loss
and other comprehensive income, cash flows and changes in equity of the Company in
accordance with the accounting principles generally accepted in India, including the Indian
Accounting Standards (Ind AS) prescribed under Section 133 of the Act.

This responsibility also includes the maintenance of adequate accounting records in accordance
with the provisions of the Act for safeguarding 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 and Board of Directors 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 management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Company's financial reporting
process.

Auditors' Responsibility for the Audit of the 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.

As part of an audit in accordance with SAs, we exercise professional judgement 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, international 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 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 financial statements in place and operating
effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the management and Board of
Directors.

• Conclude on the appropriateness of management and Board of Directors use of the going
concern basis of accounting in preparation of standalone financial statements 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
statement 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 (ii) to evaluate the effect of any identified misstatements in the
Standalone financial statements.

We communicate with those charged with the 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 of
current period and are therefore the key audit matters. We describe these matters in our auditor's
report unless law or regulation precludes public disclosures 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 (Auditors' Report) Order, 2020 ('the Order') issued by the

Central Government of India in terms of Section 143(11) of the Act, we give in the Annexure

A, a statement on the matters specified in the paragraph 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 it appears from our examination of those books.

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.

d. In our opinion, the aforesaid Standalone financial statements comply with the Accounting
Standards specified under Section 133 of the Act.

e. On the basis of the written representations received from the directors as on 31 March
2026 taken on record by the Board of Directors, none of the directors is disqualified as

on 31 March 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 with reference to
Standalone financial statements 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 31 March 2026, 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 to be included in the Auditors' Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014 (as amended), in our
opinion and to the best of our information and according to the explanations given to us:

a. The Company has disclosed the impact of pending litigations on its financial
position in its Standalone financial statements. Refer to Note-39(A) to the
Standalone financial statements;

b. The Company did not have derivative contracts during the year under Audit and
there was no any profit earned on such derivative contracts.

c. There were no amounts which were required to be transferred to the Investor
Education and protection Fund by the Company.

d. (i) The management has represented that, to the best of its knowledge and belief, 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 Holding Company or its subsidiary companies incorporated
in India 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,
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.

(ii) The management has represented that, to the best of its knowledge and belief, other than
as disclosed in the notes to 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

(iii) Based on such audit procedures as considered reasonable and appropriate in the
circumstances, nothing has come to our notice that has caused us to believe that the
representation under sub-clause(d)(i) and (d)(ii) contain any material mis-statement.

In our opinion and based on the information and explanation provided to us, no dividend has
been declared or paid during the year by the company.

e. Based on the examination, which included test checks, the Company has used accounting
software for maintaining its books of account for the financial year ended March 31, 2026 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 we did not come across any instance of the audit trail feature being tampered with. As
proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1, 2023,
reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation
of audit trail as per the statutory requirements for record retention is not applicable for the
financial year ended March 31, 2026.

For Kanodia Sanyal & Associates
Chartered Accountants
FRN: 008396N

Sd/-

(Namrata Kanodia)

Partner

Membership no.: 402909
Place: New Delhi
Date: 26^th May,2026
UDIN:26402909KHBSDS3591