Auditor Report of Medistep Healthcare Ltd.

Mar 31, 2025

We have audited the accompanying financial statements of MEDISTEP HEALTHCARE LIMITED
(“the Company”) which comprise the Balance Sheet as at 31^st March, 2025 the Statement of
Profit & Loss for the year ended on that date, Statement of Change in Equity and the Cash Flow
Statement for the year then ended and a summary of significant accounting policies and other
explanatory information which we have signed under reference to this report.

In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid financial statements give the information required by the Companies Act, 2013
(“The Act”) in the manner so required and give a true and fair view in conformity with the
accounting principles generally accepted in India, of the state of affairs of the Company as at
March 31,2025, and profit and its cash flows for the year ended on that date.

Basis of 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 Financial Statements
section of our report. We are independent of the Company in accordance with the Code of
Ethics issued by the Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the financial statements under the provisions of the
Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the Code of Ethics. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

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 Financial Statements as a whole, and in forming our opinion
thereon, we do not provide separate opinion on these matters. We have determined that there
are no key audit matters to communicate in our report.

Information other than the financial statements and auditors’ report thereon

The Company’s board of directors is 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 Annexure to Board’s Report, Business Responsibility Report,
Corporate Governance and Shareholder’s Information, but does not include the financial
statements and our auditor’s report thereon. Our opinion on the 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 financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained during the course of our audit or
otherwise appears to be materially misstated. The Director’s report is not made available to us at
the date of this auditor’s report. We have nothing to report in this regard.

Management’s Responsibility for the Financial Statements

The Company’s Board of Directors and the management is responsible for the matters stated in
Section 134(5) of the Companies Act, 2013, with respect to the preparation and presentation of
these financial statements that give a true and fair view of the financial position, financial
performance and cash flows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards specified under Section 133 of
the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. 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 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 operation, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the company’s financial reporting process.

Auditor’s Responsibility for the Audit of The 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 is exists. Misstatements can arise from fraud or error and are
considered material if individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these Financial Statements.

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 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 financial controls relevant to the audit in order to design
audit procedures that are appropriate in the circumstance. 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 system in place and the operating effectiveness of such control.

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

iv) Conclude 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 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.

v) Evaluate the overall presentation, structure and content of the

Financial Statements, including the disclosures and whether the financial statements represent
the underlying transaction and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Financial Statement that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user
of the 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 misstatement in the 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.

From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of 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 purpose of our audit;

b. In our opinion, proper Books of Account as required by law have been kept by the
Company so far as appears from our examination of those books;

c. The Balance Sheet, the Statement of Profit and Loss, Statement of Change of Equity
and the Statement of Cash Flow dealt with by this Report are in agreement with the
Books of Account;

d. In our opinion, the aforesaid Financial Statements comply with the Accounting
Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of
the Companies (Accounts) Rules, 2014;

e. On the basis of written representations received from the Directors as on March 31,2025
and 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. With respect to the adequacy of internal financial controls over financial reporting of the
Company and operating effectiveness of such controls, refer to our specific report in
Annexure B,.

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;

h) With respect to 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:

a)The Company does not have any such pending litigations which would impact
its financial position.

c) The Company has made provision, as required under the applicable laws or
accounting standards, for material foreseeable losses, if any, on long-term
contracts including derivative contracts.

d) There has not been an occasion in case of the Company during the year under

report to transfer any sums to Investor Education and Protection Fund.
Therefore, the question of delay in transferring such sums does not arise.

e) i)The management has represented that, to the best of it’s knowledge and
belief, other than as disclosed in the notes to the accounts, no funds have been
advanced or loaned or invested (either from borrowed funds or share premium or
any other sources or kind of funds) by the company to or in any other person(s) or
entity(ies), including foreign entities(“Intermediaries”), with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall, whether,
directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the company (“Ultimate Beneficiaries”) or
provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

e)ii) management has represented, that, to the best of it’s knowledge and belief,
other than as disclosed in the notes to the accounts, no funds have been received
by the company from any person(s) or entity(ies), including foreign entities
(“Funding Parties”), with the understanding, whether recorded in writing or
otherwise, that the company shall, whether, directly or indirectly, lend or invest in
other persons or entities identified in any manner whatsoever by or on behalf of
the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or
the like on behalf of the Ultimate Beneficiaries; and

e)iii) Based on audit procedures which 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 mis-statement.

(f) The company has not declared or paid any dividend during the year in contravention
of the provisions of section 123 of the Companies Act, 2013.

(g) Based on our examination, which included test checks, the company has used
accounting software for maintaining its books of accounts for the financial year ended
March 31, 2025 which has a feature of recording audit trail (edit log) facility. However,
the same has operated throughout the year for all the relevant transactions recorded in
the software. Further during the course of our audit we could not establish the
systematic and chronological order of transactions recorded during the year.

2. As required by the Companies (Auditor’s Report) Order 2020 (‘the Order’) issued
by the Central Government in term of section 143(11) of the Act, we give in
Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the
order.

For Mukesh Mishra & Co,

Chartered Accountants,

Firm Registration No: 016868C

Sd/-

Bhoomika Nowlakha
Partner

Membership No: 431509
UDIN: 25431509BPTZAN9750
Date: 30^th July, 2025
Place: Gujarat