We have audited the standalone financial statements of
GOLDIAM INTERNATIONAL LIMITED (“the
Company”) which comprises the standalone Balance
Sheet as at March 31,2025, and the standalone Statement
of Profit and Loss, (including Other Comprehensive
Income), standalone statement of changes in Equity and
standalone statement of cash flows for the year then
ended, and notes to standalone the financial statements,
including summary of 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
Ind AS 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, of the state of affairs of the Company
as at March 31, 2025, and its profits 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 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 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 we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Key Audit matter
We have determined that there are no key audit matters
to communicate in our report.
Information Other than the 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 Annual 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 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 be materially misstated.
• If, based on the work we have performed, on the other
information that we have 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 Standalone Financial
Statements
The Company’s Board of Directors is 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,
(including Other Comprehensive Income), changes in
equity and cash flows of the Company in accordance with
the accounting principles generally accepted in India,
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 of
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 Ind AS financial
statement that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
In preparing the standlone 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 the Board of Director 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 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 judgment and maintain professional
skepticism throughout the audit. We also:
(i) 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.
(ii) Obtain an understanding of internal controls 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.
(iii) Evaluate the appropriateness of accounting policies
used and the reasonableness of accounting
estimates and related disclosures in the standalone
financial statements made by the Management.
(iv) 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
ability of the company 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.
(v) 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 in evaluating the
results of our work; and (ii) to evaluate the effect of any
identified misstatements in the standalone financial
statements.
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 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
the “Annexure-A” statement on the matters specified
in paragraphs 3 and 4 of the Order, to the extent
applicable.
2) A) 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 Cash Flow Statement 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 specified
under Section 133 of the Act, read with Rule 7
of the Companies (Accounts) Rules, 2014.
e) On the basis of the written representations
received from the directors as on 31st March,
2025 taken on record by the Board of Directors,
none of the directors is disqualified as on 31st
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 over financial reporting of the
Company and the operating effectiveness of
such controls, refer to our separate Report in
“Annexure-B”.
g) According to information and explanations given
to us and based on our examination of the
records of the Company, the Company has paid/
provided managerial remuneration in
accordance with the provisions of Section 197
of the Act.
h) 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 has disclosed the impact of
pending litigations as at 31st March, 2025
on its financial position in its Ind AS
financial position in its standalone financial
statements - refer note 42 to the Ind AS
financial statements.
ii) The Company did not have any long-term
contracts including derivate contracts as
at 31st March, 2025.
iii) There has been no delay in transferring
amounts, required to be transferred, to the
Investor Education and Protection fund by
the company during the year ended 31st
March, 2025.
i) (a) 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 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:
• directly or indirectly lend or invest in
other persons or entities identified in
any manner whatsoever (“Ultimate
Beneficiaries”) by or on behalf of the
Company or
• provide any guarantee, security or the
like to or on behalf of the Ultimate
Beneficiaries;
(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:
• directly or indirectly, lend or invest in
other persons or entities identified in
any manner whatsoever (“Ultimate
Beneficiaries”) by or on behalf of the
Funding Party or
• provide any guarantee, security or the
like from or 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 (i)
and (ii) contain any material misstatement.
j) The dividend declared or paid during the year
by the Company is in compliance with Section
123 of the Act.
3) 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
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.
FOR PULINDRA PATEL & CO.
CHARTERED ACCOUNTANTS
FIRM REGN. NO. 115187W
PULINDRA PATEL
MEMBERSHIP NO. 048991
UDIN: 25048991BMIBEQ5874
Place : Mumbai
Date : 26th May, 2025
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