We have audited the accompanying standalone
financial statements of Jash Engineering
Limited [the "Company"], which comprise the
Balance Sheet as at 31st March 2025, 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 ended on that date, and notes to
the financial statements, including a 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 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 31st March 2025, and its profit, total
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 Responsibility
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,

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 the matters
described below to be the key audit matters to
be communicated 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, but does not
include the consolidated financial
sta tem en ts, s ta n d a l on e fi na n ci a l
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 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,

• When we read the above mentioned reports,
if we conclude that there is a material
misstatement therein, we are required to
communicate the matter to those charged
with governance as required under SA 720
'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 these
standalone financial statements that give a
true and fair view of the financial position,
financial performance including other
comprehensive income, cash flows and changes
in equity of the Company in accordance with the
accounting principles generally accepted in
India, including Ind AS 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 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 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 the Board of
Directors either intend to liquidate the Company
or to cease operations, or has no realistic
alternative but to do so

The Company's Board of Directors is also
responsible for overseeing the Company's
financial reporting process,

Auditor’s Responsibility 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 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:

• 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
financial 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
standalone financial statements in place
and the operating effectiveness of such
controls,

• Evaluate the appropriateness of accounting
policies used and the reasonableness of
a ccounting estima tes and rela ted
disclosures made by the 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,

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 financial
controls 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

1. As required by Section 143(3) of the Act,
based on our audit 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 Balance Sheet, the Statement of Profit
and Loss including Other Comprehensive
Income, the Statement of Cash Flows and
Statement of Changes in Equity dealt with
by this Report are in agreement with the
relevant books of account.

d) In our opinion, the aforesaid standalone
financial statements comply with the Ind AS
specified under Section 133 of the Act.

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 with reference to
standalone financial statements of the
Company and the operating effectiveness
of such controls, refer to our separate
Report in "Annexure A". Our report expresses
an unmodified opinion on the adequacy and
operating effectiveness of the Company's
internal financial controls with reference to
standalone financial statements.

g) 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 a nd a ccording to the
explanations

given to us, the remuneration paid by the
Company to its directors during the year is
in accordance with the provisions of section
197 of the Act.

) 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 44 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, as disclosed in the note 55 (j) 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, 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 the note 55 (k) 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, 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 the audit procedures
performed that have been 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) The final dividend proposed in the previous
year, declared and paid by the Company
during the year is in accordance with section
123 of the Act, as applicable.

As stated in note 21 to the standalone
financial statements, the Board of Directors
of the Company has proposed final dividend

for the year which is subject to the approval
of the members at the ensuing Annual
General Meeting. Such dividend proposed is
in accordance with section 123 of the Act, as
applicable.

(vi) Based on our examination, which included
test checks, the Company has used
accounting software system for maintaining
its books of account for the financial year
ended 31st March, 2025, which have the
feature of recording audit trail (edit log)
facility and the same has operated
throughout the year for all relevant
transactions recorded in the software
system. Further, during the course of our
audit we did not come across any instance of
the audit trail feature being tampered with
and the audit trail has been preserved by
the Company as per the statutory
requirements for record retention.

(2) As required by the Companies (Auditor's
Report) Order, 2020 ("the Order") issued by
the Central Government in terms of Section
143(11) of the Act, we give in "Annexure B" a
statement on the matters specified in
paragraphs 3 and 4 of the Order.