Auditor Report of Computer Age Management Services Ltd.

Mar 31, 2025

We have audited the standalone financial statements
of Computer Age Management Services Limited (âthe
Companyâ), which comprise the Balance Sheet as at March
31, 2025, the Statement of Profit and Loss, including the
statement of Other Comprehensive Income, the Cash Flow
Statement 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.

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, as amended (âthe Actâ) 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, its profit
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 of the standalone financial statements
in accordance with the Standards on Auditing (SAs), as
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 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 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 for the financial year ended
March 31, 2025. 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. For each matter below, our
description of how our audit addressed the matter is provided
in that context.

We have determined the matters described below to be the
key audit matters to be communicated in our report. We
have fulfilled the responsibilities described in the Auditor''s
responsibilities for the audit of the standalone financial
statements section of our report, including in relation to these
matters. Accordingly, our audit included the performance of
procedures designed to respond to our assessment of the
risks of material misstatement of the standalone financial
statements. The results of our audit procedures, including
the procedures performed to address the matters below,
provide the basis for our audit opinion on the accompanying
standalone financial statements.

Key audit matters	How our audit addressed the key audit matter
Revenue from contract with customers (refer notes 3(a), 19 and 32 of the standalone financial statements)
Revenue recognised by the Company as servicing fee on a	Our audit procedures included the following:
standalone basis was INR 1,33,390.02 lakhs for the year ended March 31, 2025. As disclosed in note 32 of the standalone financial statement, servicing fee revenue involves revenue streams from data processing, customer care, recoverable and miscellaneous services. Revenue is a key performance	â¢ We evaluated the Company''s accounting policies pertaining to revenue recognition and assessed compliance with the policies in terms of Ind AS 115 - Revenue from Contracts with Customers.
measure for the Company. Revenue is recognised as per	â¢ We have obtained an understanding of the process,
the terms of the contract with the respective customers and	performed walkthrough and evaluated and tested the
when it meets the recognition criteria as per Indian Accounting	design and operating effectiveness of management''s key
Standards (Ind AS) 115 on âRevenue from contracts with customersâ.	controls over revenue recognition.

Key audit matters	How our audit addressed the key audit matter
There are multiple contracts and performance obligations as	â¢ We tested sample revenue contracts using statistical
per of the terms of agreements with customers resulting in	sampling approach for management analysis of
voluminous transactions. Management exercises judgment to	compliance with Ind AS 115 with focus on determination
determine the measurement and timing of revenue recognition	of progress of completion based on contractual terms
including evaluation of whether the Company is acting as a	agreed with the customers.
principal or an agent. Revenue may also be recorded in an incorrect period or on a basis which is inconsistent with the contractual terms agreed with the customers. Further, there	â¢ Tested on a sample basis using statistical sampling method, specific revenue transactions including credit notes recorded before and after the financial year end
exists a risk on revenue not being recognized in proportion to the service performed in relation to data processing, customer care, and miscellaneous revenue considering the factors	date to check revenue recognition in the correct financial period;
mentioned above.	â¢ We performed analytical procedures of disaggregated data of revenue transactions during the audit period to
Considering the above, revenue recognition is considered as a key audit matter.	identify any unusual trends. â¢ Assessed the reasonableness of assumptions, judgement and estimates considered for recognition of revenue. â¢ We assessed that the contractual positions and revenue for the year were presented and disclosed in the standalone financial statements with accordance with Ind AS and Schedule III of Companies Act.
Impairment of investment in subsidiaries and joint venture (refer notes 3(c), 3(f) and 5 of the standalone financial statements)
The carrying amount of investments in subsidiaries and a joint venture as at March 31, 2025 amounts to '' 30,899.11 lakhs	Our audit procedures included the following:
(net of allowance for impairment). The said investments are carried at cost less allowance for impairment.	â¢ We read the Company''s accounting policy for impairment of investments in Subsidiaries and Joint venture and assessed compliance with Ind AS 36 - Impairment of
These investments are held in 6 direct subsidiaries (which	Assets;
includes 2 step subsidiaries) and 1 joint venture. These	â¢ We performed walkthroughs of the Company''s impairment
investments are tested for impairment on an annual basis.	testing process and tested the design and operating effectiveness of internal controls over the impairment
The inputs to assessment of impairment which require exercise of significant judgement include the following:	assessment process; â¢ Assessed the Company''s determination of CGUs based
â¢ Projected future cash inflows;	on our understanding of the nature of the Company and their operations, and assessed whether this is compliant
â¢ Expected growth rate, discount rate, terminal growth rate	with Ind AS 36 - Impairment of assets;
and gross margin percentage;	â¢ We assessed the actual performance in the year against the budgets to evaluate historical forecasting accuracy
Accordingly, we identified the assessment of impairment as a key audit matter.	and understood the reasons for significant variances; â¢ We evaluated the future cash flow forecasts, and the process by which they were drawn up, including testing the underlying inputs, assumptions and calculations and comparing them to budgets approved by the management; â¢ We challenged the key assumptions such as revenue growth rates, gross margin percentage, capital expenditure, working capital requirements in the forecasts by comparing them to historical results;

Key audit matters	How our audit addressed the key audit matter
	â¢ We evaluated the Company''s valuation methodology applied in determining the recoverable amount. In making this assessment, we also assessed the objectivity and independence of Company''s specialists involved in the process.;
	â¢ Involved internal experts to test the valuation model and computations including forward looking micro and macroÂ¬ economic factors that affect the recoverable amount;
	â¢ Assessed the recoverable value headroom by performing sensitivity analysis of key assumptions used;
	â¢ Tested the arithmetical accuracy of the computation of recoverable amounts of investments;
	â¢ Assessed the adequacy of the disclosures in the Standalone Financial Statements;

Information Other than the Financial Statements
and Auditorâs Report Thereon

The Company''s Board of Directors is responsible for the other
information. The other information comprises the information
included in the Chairman''s Message, Director''s Report
including annexures, Management and Discussion Analysis,
Business Responsibility and Sustainability Report, Corporate
Governance Report but does not include the standalone
financial statements and our auditor''s report thereon. These
reports are 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.

Responsibilities of the 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, cash
flows and changes in equity of the Company in accordance
with the accounting principles generally accepted in India,

including the Indian Accounting Standards (Ind AS) specified
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 the 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.

Those Charged with Governance are also responsible for
overseeing the Company''s financial reporting process.

Auditorâs 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 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:

â¢ I dentify 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.

â¢ 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.

â¢ Evaluate the appropriateness of accounting policies
used and the reasonableness of accounting estimates
and related disclosures made by management.

â¢ 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 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.

â¢ 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
for the financial year ended March 31,2025 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 (âthe Orderâ), issued by the Central Government
of India in terms of sub-section (11) of section 143 of
the Act, we give in the âAnnexure 1â a statement on the
matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act, we report to the
extent applicable, 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 that as stated in note 37(i) to the standalone
financial statements, on account of migration
from legacy systems, (a) the back-up of books of
account and other books and papers maintained in
electronic mode was not kept in servers physically
located in India on a daily basis for a limited period

till April 24, 2024 and (b) the matters stated in the
paragraph 2(i)(vi) below on reporting under Rule

11(g);

(c) The Balance Sheet, the Statement of Profit and Loss
including the Statement of Other Comprehensive
Income, the Cash Flow Statement and Statement
of Changes in Equity 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 Accounting Standards
specified under Section 133 of the Act, read with
Companies (Indian Accounting Standards) Rules,
2015, as amended;

(e) On the basis of the written representations received
from the directors as on March 31, 2025 taken
on record by the Board of Directors, none of the
directors is disqualified as on March 31,2025 from
being appointed as a director in terms of Section
164 (2) of the Act;

(f) The modification relating to the maintenance of
accounts and other matters connected therewith are
as stated in the paragraph (b) above on reporting
under Section 143(3)(b) and paragraph (i)(vi) below
on reporting under Rule 11(g);

(g) With respect to the adequacy of the internal financial
controls with reference to standalone financial
statements and the operating effectiveness of such
controls, refer to our separate Report in âAnnexure
2â to this report;

(h) In our opinion, the managerial remuneration for the
year ended March 31,2025 has been paid / provided
by the Company to its directors in accordance with
the provisions of section 197 read with Schedule V
to the Act; and

(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
36 to the standalone financial statements;

ii. The Company has made provision, as required
under the applicable law or accounting
standards, for material foreseeable losses,
if any, on long-term contracts including
derivative contracts - Refer Note 36 to the
standalone financial statements;

iii. There were no amounts which were 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 43 to the standalone
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 (âIntermediariesâ), 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 (âUltimate
Beneficiariesâ) 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 43 to the standalone
financial statements, no funds have
been received by the Company from
any person(s) or entity(ies), including
foreign entities (âFunding Partiesâ), 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
(âUltimate Beneficiariesâ) or provide any
guarantee, security or the like on behalf
of the Ultimate Beneficiaries; and

c) Based on such 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 (a) and (b) contain any
material misstatement.

v. The final dividend paid by the Company during
the year in respect of the same declared
for the previous year is in accordance with
section 123 of the Act to the extent it applies
to payment of dividend.

The interim dividend declared and paid by the
Company during the year and until the date of
this audit report is in accordance with section
123 of the Act.

As stated in note 44 to the standalone
financial statements, 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 dividend declared is in
accordance with section 123 of the Act to the
extent it applies to declaration of dividend.

vi. Based on our examination which included test
checks, the Company has used accounting
software for maintaining its books of account
which has a feature of recording audit trail (edit

log) facility and the same has operated for all
relevant transactions recorded in the software
during the period April 7, 2024 to March 31,
2025 at application level and April 25, 2024 to
March 31,2025 at database level, as described
in note 37(ii) to the standalone financial
statement. Further, during the course of our
audit we did not come across any instance
of audit trail feature being tampered with, in
respect of accounting software(s) where the
audit trail has been enabled. Additionally, the
audit trail of relevant prior years and current
year have been preserved by the company
as per the statutory requirements for record
retention, to the extent and period it was
enabled and recorded in those respective
years, as stated in note 37(ii) to the standalone
financial statements.

For S.R. Batliboi & Associates LLP

Chartered Accountants
ICAI Firm Registration Number: 101049W/E300004

per Bharath N S

Partner

Place of Signature: Mumbai Membership Number: 210934
Date: May 05, 2025 UDIN: 25210934BMLCFZ9151

Mar 31, 2024

Computer Age Management Services Limited

Report on the Audit of the Standalone Financial Statements

OPINION

We have audited the accompanying standalone financial statements of Computer Age Management Services Limited ("the Company"), which comprise the Balance sheet as at March 31 2024, the Statement of Profit and Loss, including the statement of Other Comprehensive Income, the Cash Flow Statement 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.

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, as amended ("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, 2024, its profit 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 of the standalone financial statements in accordance with the Standards on Auditing (SAs), as 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 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 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 for the financial year ended March 31, 2024. 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. For each matter below, our description of how our audit addressed the matter is provided in that context.

We have determined the matters described below to be the key audit matters to be communicated in our report. We have fulfilled the responsibilities described in the Auditor''s responsibilities for the audit of the standalone financial statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the standalone financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying standalone financial statements.

Recognition of servicing fee revenue

How we addressed the key audit matter

Revenue recognised by the Company as servicing fee was '' 105,448 lakhs for the year ended March 31, 2024. As disclosed in note 33 of the financial statement, servicing fee revenue involves revenue streams from data processing, customer care, recoverable and miscellaneous services. Revenue is a key performance measure for the Company. Revenue is recognised as per the terms of the contract with the respective customers and when it meets the recognition criteria as per Ind AS 115 on "Revenue from contracts with customers".

Our audit procedures included the following:

â¢ We evaluated the Company''s accounting policies pertaining to revenue recognition and assessed compliance with the policies in terms of Ind AS 115 -Revenue from Contracts with Customers.

â¢ We have obtained an understanding of the process, performed walkthrough and evaluated and tested the design and operating effectiveness of management''s key controls over revenue recognition.

Recognition of servicing fee revenue	How we addressed the key audit matter
There are multiple contracts and performance obligations as	â¢ We tested sample revenue contracts using statistical
per of the terms of agreements with customers resulting in	sampling approach for management analysis of
voluminous transactions. Revenue may also be recorded in	compliance with Ind AS 115 with focus on determination
an incorrect period or on a basis which is inconsistent with the	of progress of completion based on contractual terms
contractual terms agreed with the customers. Further, there	agreed with the customers.
exists a risk on revenue not being recognized in proportion to	â¢ Tested on a sample basis using statistical sampling
the service performed in relation to data processing, customer	method, specific revenue transactions including credit
care, and miscellaneous revenue considering the factors	notes recorded before and after the financial year end
mentioned above.	date to check revenue recognition in the correct financial
Considering the above, revenue recognition is considered as	period;
a key audit matter.	â¢ We performed analytical procedures of disaggregated data of revenue transactions during the audit period to identify any unusual trends. â¢ We assessed that the contractual positions and revenue for the year were presented and disclosed in the standalone financial statements with accordance with Ind AS and Schedule III of Companies Act.

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 Chairman''s Message, Director''s Report including annexures, Management and Discussion Analysis, Business Responsibility and Sustainability Report, Corporate Governance Report but does not include the standalone financial statements and our auditor''s report thereon.

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 such other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, 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 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 the Indian Accounting Standards (Ind AS) specified 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 the 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.

Those Charged with Governance are 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 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:

â¢ 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.

â¢ 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.

â¢ Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

â¢ 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 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.

â¢ 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 for the financial year ended March 31, 2024 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.

OTHER MATTER

The financial statements of the Company for the year ended March 31, 2023, included in these standalone financial statements, have been audited by the predecessor auditor who expressed an unmodified opinion on those statements on May 06, 2023.

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 Act, we give in the "Annexure 1" a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. As required by Section 143(3) of the Act, we report, to the extent applicable, 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 matters stated in paragraph 2(h) below on reporting under Rule 11(g);

(c) The Balance Sheet, the Statement of Profit and Loss including the Statement of Other Comprehensive Income, the Cash Flow Statement and Statement of Changes in Equity 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 Accounting Standards specified under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015, as amended;

(e) On the basis of the written representations received from the directors as on March 31, 2024 taken on record by the Board of Directors, none of the directors is disqualified as on March 31,2024 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 these standalone financial statements and the operating effectiveness of

such controls, refer to our separate Report in "Annexure 2" to this report;

(g) In our opinion, the managerial remuneration for the year ended March 31,2024 has been paid / provided by the Company to its directors in accordance with the provisions of section 197 read with Schedule V to the Act;

(h) The observation relating to the maintenance of accounts and other matters connected therewith are as stated in the paragraph (b) above; and

(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 to the standalone financial statements;

ii. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses,

if any, on long-term contracts including derivative contracts - Refer Note 18 to the standalone financial statements;

iii. There were no amounts which were 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 as disclosed in the note 44 to the standalone 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 Beneficiariesâ) 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, other than as disclosed in the note 44 to the standalone 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 (âUltimate Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

c) Based on such 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 subclause (a) and (b) contain any material misstatement.

v. The final dividend paid by the Company, during the year in respect of the same declared for the previous year and the interim dividend declared by the Company during the year are in accordance with section 123 of the Act to the extent it applies to payment of dividend. Further, as stated in note 27 to the standalone financial statements, the respective Board of Directors of the Company, have proposed final dividend for the year which is subject to the approval of the members of the respective companies at the respective ensuing Annual General Meeting. The dividend declared is in accordance with section 123 of the Act to the extent it applies to declaration of dividend.

vi. Based on our examination which included test checks, the Company has used 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 except that, audit trail feature is not enabled for direct changes to data when using certain access rights, as described in note 38 to the financial statements. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with in respect of the accounting software.

For S.R. Batliboi & Associates LLP,

Chartered Accountants ICAI Firm Registration Number: 101049W/E300004

per Bharath N S

Partner

Place of Signature: Chennai. Membership Number: 210934 Date: May 09, 2024 UDIN: 24210934BKFUMQ2090

Mar 31, 2023

To the Members of Computer Age Management Services Limited,

Report on the Audit of the Standalone Financial Statements

1. OPINION

We have audited the Ind AS financial statements of Computer Age Management Services Limited (âthe Companyâ), which comprise the Balance Sheet as at March 31, 2023, and the statement of Profit and Loss, statement of changes in Equity and statement of Cash Flows for the year then ended, and notes to the Ind AS Financial Statements, including a summary of significant accounting policies and other explanatory information.

I n our opinion and to the best of our information and according to the explanations given to us, the aforesaid Ind AS Financial Statements give the information required by the Companies Act, 2013 (âthe Actâ) 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 31,2023, its profit and total comprehensive income, its changes in Equity and its Cash Flows for the year ended on that date.

2. 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 Ind AS 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 Companies Act, 2013 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.

3. KEY AUDIT MATTERS

Key audit matters are those matters that, in our professional judgment, 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 Ind AS 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.

S. No.	Key Audit Matter	Our audit procedures related to Key Audit Matter
1.	Revenue recognition	â¢	We evaluated the design of controls and operating
	The Company generates revenue primarily from data processing		effectiveness of the relevant key controls with respect to
	services, customer care services and other allied services to its		revenue recognition;
	customers.	â¢	We evaluated the appropriateness of recognition of
	Revenue is the most significant account in the Statement of Profit		revenue based on the requirements of Ind AS 115.
	and Loss.	â¢	We Performed substantive testing on samples selected for revenue transactions recorded during the year by verifying
	Revenue is recognised in accordance with the agreed terms and conditions of the contract with the respective customers		the underlying documentation/ records;
	and when it meets the recognition criteria as per Ind AS 115 on	â¢	We tested and evaluated the general information technology
	âRevenue from contracts with customersâ.		controls and key application controls surrounding revenue recognition;
	i) The revenue recognition process of the Company is	â¢	We tested on a sample basis, specific revenue transactions
	dependent on complex information technology systems.		recorded before and after the financial year end date to
	ii) There exists a risk of revenue not being recognised:		check revenue recognition in the correct financial period;
	a) in proportion to the service performed by the company	â¢	We carried out year on year variance analysis on revenue
	b) on a basis which is inconsistent with the contractual		recognised during the year to identify unusual variance;
	terms agreed with the client. c) In a correct period. d) considering price revisions/discounts agreed.	â¢	We enquired with the key managerial personnel and executives of the company on the significant matters relating to revenue recognition; and
		â¢	We evaluated the adequacy of disclosures relating to the
	Hence, we consider this as a Key Audit Matter.		Revenue recognition in the financial statements.

S. No.	Key Audit Matter	Our audit procedures related to Key Audit Matter
2.	Recognition of Claims	â¢	We obtained and evaluated the company''s accounting policy in relation to assessing, accounting and disclosure of claims
	There are claims raised by Mutual Fund investors, Asset management companies (AMCs) and others against the		against the company;
	company towards processing errors in the course of their	â¢	We evaluated the design and tested the operating
	operations giving rise to claims.		effectiveness of the company''s key controls over the identification, estimation, monitoring and disclosure of
	In order to assess the impact of such claims against the company in its financial statements, the management is required to exercise		claims;
	significant judgement to determine whether an obligation exists	â¢	We examined the relevant correspondence with Investors,
	as at reporting date requiring a provision and / or disclosure in		AMCs and others to assess developments in claims to
	the financial statements in accordance with the criteria set under		identify potentially material cases;
	IND AS 37 - Provisions, Contingent Liabilities and Contingent	â¢	We reviewed the Board and other board level committee
	Assets. This involves an estimation, by the management, of the		meeting minutes to assess the effectiveness of
	outflow of economic resources to settle the present obligation.		management''s review controls and conclusions reached;
	Considering the high degree of judgement involved in estimation	â¢	For the significant provisions made, we evaluated the
	and in view of the significance of the claims to the overall financial		provisioning methodology. We tested the underlying data,
	statements, this is considered as a key audit matter.		assumptions used and obtained documents which are used in the determination of the provisions recognised including expected claims; and
		â¢	For cases where a provision was not recognized, we evaluated the requirements of disclosure in the Ind AS financial statements.

4. INFORMATION OTHER THAN THEFINANCIAL STATEMENTS AND AUDITORâS REPORT THEREON

The Company''s Board of Directors are responsible for the preparation of 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, Business Responsibility Report, Corporate Governance Report and Shareholder''s Information, but does not include the Ind AS financial statements and our auditor''s report thereon.

Our opinion on the Ind AS Financial Statements does not cover the other information and we do not express any form of assurance or conclusion thereon.

In connection with our audit of the Ind AS Financial Statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the Ind AS Financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed, 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.

5. RESPONSIBILITY OF MANAGEMENT FOR STANDALONE FINANCIAL STATEMENTS

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 (âthe Actâ) with respect to the preparation of these Ind AS 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 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 misstatements, whether due to fraud or error.

In preparing the Ind AS 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.

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

6. AUDITORâS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENT

Our objectives are to obtain reasonable assurance about whether the Ind AS Financial Statements as a whole are free from material misstatements, 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 Ind AS Financial Statements.

As part of an audit in accordance with Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

a) Identify and assess the risks of material misstatements of the Ind AS 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 controls.

b) 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 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.

c) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

d) 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 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.

e) 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.

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 Ind AS 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.

7. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

i) As required by the Companies (Auditor''s Report) Order, 2020(âthe Orderâ), 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 âAnnexure Aâ to this report a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

ii) 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 Balance Sheet, the Statement of Profit and Loss, Total Comprehensive Income, the Statement of Changes in Equity, and the 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 Accounting Standards 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 March 31, 2023 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2023 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 âAnnexure Bâ.

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 and according 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.

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 on its financial position in its financial statements- Refer note 39 to the financial statements.

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

(iii) The company is not required to transfer any amounts to the Investor Education and Protection Fund.

(iv) a) The management has represented

to us that, to the best of their knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been advanced or loaned or invested (either from share premium or any other sources or kind of funds) by the company to or in any other persons or entities, including foreign entities (âIntermediariesâ), 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 (âUltimate Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (âUltimate Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. and

c) Based on such audit procedures that the we have considered reasonable and appropriate in the circumstances, nothing has come to their notice that has caused them to believe that the representations under sub-clause (a) and (b) as specified above contain any material mis-statements.

(v) As stated in Note 28 to the standalone

financial statements

a) 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.

b) The interim dividends declared and paid by the Company during the year is in compliance with Section 123 of the Act.

c) 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 accordance with section 123 of the Act.

(vi) Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of account using accounting software which has a feature of recording audit trail (edit log) facility is applicable to the Company with effect from April 1, 2023, and accordingly, reporting under Rule 11(g) of Companies (Audit and Auditors) Rules, 2014 is not applicable for the financial year ended March 31, 2023.

For Brahmayya & Co.,

Chartered Accountants Firm Regn. No.000511S

Sd/-P. Babu

Partner

Place: Chennai. Membership No. 203358

Date: May 6, 2023 UDIN: 23203358BGWEPW9786

Mar 31, 2022

Report on the Audit of the Standalone Financial Statements

1. OPINION

We have audited the Ind AS financial statements of Computer Age Management Services Limited (âthe Companyâ), which comprise the Balance Sheet as at 31st March 2022, and the statement of Profit and Loss, statement of changes in Equity and statement of Cash Flows for the year then ended, and notes to the Ind AS Financial Statements, including a summary of significant 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 Financial Statements give the information required by the Companies Act, 2013 (âthe Actâ) 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 31,2022, and Profit, changes in Equity and its Cash Flows for the year ended on that date.

2. BASIS FOR OPINION

3. KEY AUDIT MATTERS

S. No.	Key Audit Matter	Our audit procedures related to Key Audit Matter
1.	Revenue recognition The Company generates revenue primarily from data processing services, customer care services and other allied services to its	â¢	Evaluating the design of controls and operating effectiveness of the relevant key controls with respect to revenue recognition;
	customers. Revenue is the most significant account in the Statement of	â¢	Evaluated the appropriateness of recognition of revenue based on the requirements of Ind AS 115.
	Profit and Loss. Revenue is recognised in accordance with the agreed terms and conditions of the contract with the respective customers	â¢	Performing substantive testing on samples selected for revenue transactions recorded during the year by verifying the underlying documentation/ records;
	and when it meets the recognition criteria as per Ind AS 115 on âRevenue from contracts with customersâ. i) The revenue recognition process of the Company is	â¢	Testing and evaluating the general information technology controls and key application controls surrounding revenue recognition;
	dependent on complex information technology systems. ii) There exists a risk of revenue not being recognised: a) in proportion to the service performed by the company	â¢	Testing on a sample basis, specific revenue transactions recorded before and after the financial year end date to check revenue recognition in the correct financial period; and
	b) on a basis which is inconsistent with the contractual terms agreed with the client c) In a correct period. d) considering price revisions/discounts agreed.	â¢	Carrying out year on year variance analysis on revenue recognised during the year to identify unusual variance.

S. No.	Key Audit Matter	Our audit procedures related to Key Audit Matter
	Hence, we consider this as a Key Audit Matter.	â¢	Enquired with the key managerial personnel and executives of the company on the significant matters relating to revenue recognition.
		â¢	Evaluated the adequacy of disclosures relating to the Revenue recognition in the financial statements.
2.	Recognition of Claims	â¢	We obtained and evaluated the company''s accounting
	There are claims raised by Mutual Fund investors, Asset management companies (AMCs) and others against the		policy in relation to assessing, accounting and disclosure of claims against the company.
	company towards processing errors in the course of their	â¢	We evaluated the design and tested the operating
	operations giving rise to claims.		effectiveness of the company''s key controls over the identification, estimation, monitoring and disclosure of
	In order to assess the impact of such claims against the company in its financial statements, the management is		claims.
	required to exercise significant judgement to determine whether	â¢	We examined the relevant correspondence with Investors,
	an obligation exists as at reporting date requiring a provision		AMCs and others to assess developments in claims to
	and / or disclosure in the financial statements in accordance		identify potentially material cases.
	with the criteria set under IND AS 37 - Provisions, Contingent	â¢	We reviewed the Board and other board level committee
	Liabilities and Contingent Assets. This involves an estimation,		meeting minutes to assess the effectiveness of
	by the management, of the outflow of economic resources to settle the present obligation.		management''s review controls and conclusions reached.
		â¢	For the significant provisions made, we evaluated and
	Considering the high degree of judgement involved in estimation		assessed the provisioning methodology. We tested the
	of the impact and in view of the significance of the claims to the		underlying data and assumptions used in the determination
	overall financial statements, this is considered as a key audit		of the provisions recognised including expected claims.
	matter.	â¢	For cases where a provision was not recognized, we evaluated the requirements of disclosure in the Ind AS financial statements.

4. INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORâS REPORT THEREON

Our opinion on the Ind AS Financial Statements does not cover the other information and we do not express any form of assurance or conclusion thereon.

If, based on the work we have performed, 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.

5. RESPONSIBILITY OF MANAGEMENT FOR STANDALONE FINANCIAL STATEMENTS

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 misstatements, whether due to fraud or error.

In preparing the Ind AS 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.

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

6. AUDITORâS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

As part of an audit in accordance with Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

c) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

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.

7. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

i) As required by the Companies (Auditor''s Report) Order, 2020(âthe Orderâ), 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 âAnnexure Aâ to this report a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

ii) 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 Balance Sheet, the Statement of Profit and Loss, and the 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 Accounting Standards 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, 2022 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2022 from being appointed as a director in terms of Section 164 (2) of the Act.

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:

(i) The Company has disclosed the impact of pending litigations on its financial position in its financial statements- Refer note 39 to the financial statements.

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

(iii) The company is not required to transfer any amounts to the Investor Education and Protection Fund.

(iv) a) The management has represented to us that, to the best of their knowledge and belief, other than

as disclosed in the notes to the accounts, no funds have been advanced or loaned or invested (either from share premium or any other sources or kind of funds) by the company to or in any other persons or entities, including foreign entities (âIntermediariesâ), 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 (âUltimate Beneficiariesâ) 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 their knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any persons or entities, including foreign entities (âFunding Partiesâ), 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 (âUltimate Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries. and

(v) As stated in Note 28 to the standalone financial statements

a) 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.

b) The interim dividend declared and paid by the Company during the year is in compliance with Section 123 of the Act.

For Brahmayya & Co., Chartered Accountants Firm Regn. No.000511S

Sd/-P. Babu

Partner

Place: Chennai. Membership No. 203358

Date: May 5, 2022 UDIN: 22203358AIUURB5195

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article