We have audited the accompanying Standalone Financial Statements of ARVAYA HEALTHCARE LIMITED
(Formerly known as "BIJOY HANS LIMITED”) ("the Company"), which comprise the Balance Sheet as at 31 March
2026, and the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flows and
the Statement of Changes in Equity for the year then ended, and notes to the Standalone Financial Statements, including a
summary of material 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 Indian Accounting Standards prescribed under Section 133 of the Act,
("Ind AS") and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31
March 2026 and its loss, its cash flows and the changes in equity 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 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 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.

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 period. 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 that there are no key audit matters to communicate in our report.

Information Other Than the Standalone Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is 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,
Corporate Governance and Shareholders' Information, but does not include the Standalone Financial Statements and our
Auditor's Report thereon. The Annual Report 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 will 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 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 shall comply with
the relevant applicable requirement of SA 720 (Revised), 'The Auditor's Responsibilities Relating to Other Information.'

Responsibilities of Management and Board of Directors 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 the 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 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 and for preventing and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgements 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.

The 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 the Standalone Financial Statements.

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 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 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
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 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

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 Companies Act, 2013, we give in Annexure "A", a statement
on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

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 purpose 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, Statement of Profit and Loss including Other Comprehensive Income, the Cash Flow
Statement and the Statement of Changes in Equity dealt with by this Report are in agreement with the books of
account;

d. In our opinion, the Standalone Financial Statements comply with the Indian Accounting Standards (Ind AS)
prescribed under Section 133 of the Act, read with Rule 4 of the Companies (Indian Accounting Standards) Rules,
2015;

e. In our opinion, there are no matters which have any adverse effect on the functioning of the Company;

f. There are no observations or comments on financial transactions or matters which have any adverse effect on the
functioning of the Company;

g. On the basis of written representations received from the directors as on 31 March 2026, and 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;

h. With respect to the adequacy of the internal financial controls with reference to the Standalone Financial
Statements of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexure
"B";

i. With respect to the other matters 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 by the Company to its Managing Director during the year is in
accordance with the provisions of Section 197 of the Act read with Schedule V thereto;

j. 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 knowledge and belief and
according to the information and explanations given to us:

i) The Company does not have any pending litigations as at 31 March 2026.

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

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 2026.

iv) a) The Management has represented to us 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 the Company to or in any other person or entity, including foreign entities
("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the
Intermediary shall, 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 to us that, to the best of its knowledge and belief, no funds have
been received by the Company from any person or entity, including foreign entities ("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 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;

c) Based on our audit procedures which we have considered reasonable and appropriate in the
circumstances and according to the information and explanations provided to us by the Management in
this regard, nothing has come to our notice that has caused us to believe that the representations made
by the Management under sub-clause (a) and (b) above contain any material misstatement.

v) No dividend has been declared or paid during the year by the Company.

vi) Based on our examination which included test checks, the Company has used accounting software for
maintaining its books of account for the financial year ended 31 March 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 audit trail feature being tampered with and the audit trail has been preserved by the
Company as per the statutory requirements for record retention.

For Khire Khandekar and Kirloskar

Chartered Accountants

(Firm Registration No. 105148W)

(K.G. Phatak)

Partner
M. No. 104106

UDIN: 26104106QZXQCW8961
Date: 28.05.2026
Place: Sangli