We have audited the accompanying standalone financial
statements of GOCL Corporation 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 then ended, and notes
to the standalone financial statements including a summary
of material accounting policy information and other
explanatory information (hereinafter referred to as “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
principles generally accepted in India including the Indian
Accounting Standards (“Ind AS”) prescribed under section
133 of the Act, read with the Companies (Indian Accounting
Standards) Rules, 2015, as amended, of the state of affairs of
the Company as at March 31, 2026, its profit (including other
comprehensive income), its changes in equity and its cash
flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with Standards on
Auditing (SAs) 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 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 on the standalone financial statements.

Emphasis of Matter

We draw attention to note 46(vi) to the standalone financial
statements, which describes that, the corporate guarantees
amounting to Rs. 131610 lakhs, were not processed as Related
Party Transactions and accordingly, prior approval of Audit
Committee, Board of Directors and shareholders was not
obtained as required under the relevant provisions of the Act
and the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended (“SEBI Regulations”). The
aforesaid transactions have been ratified by the Audit Committee
and Board of Directors at their respective meetings held on
May 29, 2026. The management has initiated the process of
obtaining post-facto shareholders' approval and is further
evaluating necessary action to be considered for regularisation
of the said matter, including making a representation to
SEBI and other relevant regulatory authorities. Based on
management's internal assessment and legal advice, necessary
adjustments and disclosures have been made in the standalone
financial statements to the extent considered appropriate.
Pending regularisation, the outcome of the above matter is not
expected to have a material impact on the standalone financial
statements. 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 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 matters described below
to be the key audit matters to be communicated in our report.

Other Information

The Company's Board of Directors is responsible for the other
information. The other information comprises the information
included in the Report of Board of Directors, Management
Discussion and Analysis, Business Responsibility and
Sustainability Report, Corporate Governance Report, but does
not include the standalone financial statements, consolidated
financial statements and our auditor's report thereon. The
aforesaid other information 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 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 in the audit or otherwise appears to be
materially misstated.

When we read the aforesaid other information, if we conclude
that there is a material misstament therein, we are required
communicate the matter to those charged with governance and
take necessary actions, as applicable under the relevant laws
and regulations.

Report of Board of Directors, Management Discussion and
Analysis, Business Responsibility and Sustainability Report,
Corporate Governance Report thereto is not made available to
us at the date of this auditor's report. We have nothing to report
in this regard.

Responsibilities of Management and Those Charged
with Governance 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
Ind AS prescribed 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 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, Board of
Directors 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 the Board of Directors 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 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 this 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 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 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.

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
of the current year 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 section 143(11) of the Act, we report
in “Annexure 1”, 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 except for the matter described
in the Basis for emphasis of matter section above,
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 except
for certain matters in respect of audit trail (edit log
facility) as described in paragraph 2(i)(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;

d. In our opinion, the aforesaid standalone financial
statements comply with the Ind AS prescribed
under section 133 of the Act read with the
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, and 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. The observations relating to the maintenance of
accounts and other matters connected therewith are
as stated in the Basis for emphasis of matter Section,
the paragraph 2(b) above on reporting under Section
143(3)(b) of the Act and paragraph 2(i)(vi) below on
reporting under Rule 11(g) of the Companies (Audit
and Auditors) Rules, 2014;

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 2”;

h. With respect to the other matter 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/ provided by the Company to its
directors during the year is in accordance with the
provisions of section 197 of the Act;

i. 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, as amended, 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
37 on Contingent Liabilities 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 has been no delay in transferring
amounts, 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 those disclosed in notes to account,
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 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;

(iv) (b) The management has represented that,
to the best of its knowledge and belief, no
funds have been received by the Company

from any persons or entities, 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;

(iv) (c) Based on the audit procedures that are

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), as provided
under (a) and (b) above, contain any
material misstatement.

(v) As stated in Note 46(i) and (ii) to the standalone
financial statements:

(a) The final dividend proposed for the
previous year, declared and paid by the
Company during the year is in compliance
with section 123 of the Act, as applicable.

(b) The Board of Directors of the Company
have proposed final dividend for the year
which is subject to the approval of the
members at the ensuing Annual General
Meeting. The amount of dividend proposed
is in compliance with section 123 of the
Act, as applicable.

(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 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 except that audit
trail was not enabled at database level for
accounting software to log any direct data
changes and the Payroll Application does not
have any audit trail feature. Further, during the
course of our audit, except for the aforesaid,
we did not come across any instance of audit
trail feature being tampered with and the audit
trail, where enabled, has been preserved by the
Company as per the statutory requirements for
record retention.

For Haribhakti & Co. LLP

Chartered Accountants
ICAI Firm Registration No.103523W / W100048

Snehal Shah

Partner

Membership No.048539
UDIN: 26048539IKTBGI7023
Place: Mumbai
Date: May 29, 2026