1. We have audited the accompanying financial
statements of Go Fashion (India) Limited ("the
Company"), which comprise the Balance Sheet
as at March 31, 2026, and the Statement of Profit
and Loss (including Other Comprehensive Loss),
the Statement of Changes in Equity and the
Statement of Cash Flows for the year then ended,
and notes to the financial statements, including
material accounting policy information and other
explanatory information.

2. 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 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, of the state of affairs of the Company as at
March 31,2026, and total comprehensive income
(comprising of profit and other comprehensive
loss), changes in equity and its cash flows for the
year then ended.

itors' Report

Basis for Opinion

3. We conducted our audit in accordance with the
Standards on Auditing (SAs) specified under
Section 143(10) of the Act. Our responsibilities
under those Standards are further described in
the "Auditors' 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
Act 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.

Key audit matters

4. Key audit matters are those matters that, in our
professional judgement, were of most significance
in our audit of the financial statements of the
current period. 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.

Other Information

5. The Company's Board of Directors is responsible
for the other information. The other information
comprises the information included in the Annual
report but does not include the financial statements
and our auditors' report thereon. The Annual report
is expected to be made available to us after the date
of this auditors' report.

Our opinion on the 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 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 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 and take appropriate
action as applicable under the relevant laws
and regulations.

Responsibilities of management and
those charged with governance for the
financial statements

6. 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 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 andfor preventing anddetectingfrauds

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 financial
statements that give a true and fair view and are
free from material misstatement, whether due to
fraud or error.

7. In preparing the 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
Board of Directors either intends to liquidate the
Company or to cease operations, or has no realistic
alternative but to do so.

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

Auditors' responsibilities for the audit of
the financial statements

9. 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 auditors' 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.

10. As part of an audit in accordance with SAs, we
exercise professional judgement and maintain
professional scepticism 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 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 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 auditors'
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 auditors' 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.

11. 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.

12. 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.

13. 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 auditors' 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

14. As required by the Companies (Auditors' 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 the Annexure B a
statement on the matters specified in paragraphs 3
and 4 of the Order, to the extent applicable.

15. 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 except for the matters stated in
paragraph 15(h)(vi) below on reporting under
Rule 11(g) of the Companies (Audit and Auditors)
Rules, 2014 (as amended).

(c) The Balance Sheet, the Statement of Profit
and Loss (including other comprehensive
loss), the Statement of Changes in Equity and
the Statement of Cash Flows dealt with by
this Report are in agreement with the books
of account.

(d) In our opinion, the aforesaid financial
statements comply with the Indian Accounting
Standards 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 is disqualified as on March
31, 2026, from being appointed as a director in
terms of Section 164(2) of the Act.

(f) With respect to the maintenance of accounts
and other matters connected therewith,
reference is made to our remarks in paragraph
15(b) and paragraph 15(h)(vi).

(g) With respect to the adequacy of the internal
financial controls with reference to financial
statements of the Company and the operating
effectiveness of such controls, refer to our
separate Report in "Annexure A".

(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:

i. The Company has disclosed the impact of
pending litigations on its financial position
in its financial statements - Refer Note 27 to
the financial statements.

ii. The Company was not required to recognise
a provision as at March 31, 2026, under
the applicable law or Indian Accounting
Standards, as it does not have any material
foreseeable losses on long-term contract.
The Company did not have any long term
derivative contracts as at March 31, 2026.

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 March
31, 2026.

iv. (a) The management has represented

that, to the best of its knowledge and
belief, as disclosed in Note 40 to the
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, 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;

(b) The management has represented
that, to the best of its knowledge and
belief, as disclosed in Note 41 to the
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, 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 we
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 (a) and (b) contain any
material misstatement.

v. The Company has not declared or paid any
dividend during the year.

vi. Based on our examination, which included
test checks, the Company has used an
accounting software for maintaining its
books of account which has a feature of
recording audit trail (edit log) facility other
than one accounting software where the
audit log is not maintained in case of
modification by certain users with specific
access and two accounting software
where no audit trail has been enabled at
the database level, the audit trail feature
has operated throughout the year for
all relevant transactions recorded in the
software. During the course of performing
our procedures, other than the aforesaid
instances of audit trail not maintained
where the question of our commenting
does not arise, we did not notice any
instance of audit trail feature being
tampered with or not preserved by the
Company as per the statutory requirements
for record retention. Further, the audit
trial, to the extent maintained in the prior
year, has been preserved by the Company
as per the statutory requirements for
record retention.

16. The Company has paid/ provided for managerial
remuneration in accordance with the requisite
approvals mandated by the provisions of Section
197 read with Schedule V to the Act.

For Price Waterhouse Chartered Accountants LLP

Firm Registration Number: 012754N/N500016

Arun Kumar R

Partner

Place: Chennai Membership Number: 211867

Date: April 30, 2026 UDIN: 26211867KEYNP14294