Auditor Report of Novelix Pharmaceuticals Ltd.

Mar 31, 2025

We have audited the accompanying Ind AS Financial Statements of Novelix
Pharmaceuticals Limited ("the company"), which comprise the Balance Sheet as at
31^st March, 2025, the Statement of Profit and Loss (including Other
Comprehensive Income), the Cash Flow Statement and the Statement of changes
in equity for the year then ended, and notes to 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 Act in the manner so required and give a true and fair
view in conformity with Indian Accounting Standards prescribed under section
133 of the Act read with the Companies (Indian Accounting Standards) Rules,
2015, as amended, ("Ind AS") and other accounting principles generally accepted
in India of the state of affairs of "the Company" as at March 31,2025, its Net Profit,
changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with 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
Companies Act, 2013 and we have fulfilled our other ethical responsibilities in

accordance with these requirements and the ICAI''s Code of Ethics. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion. In connection with our audit of the Information Other than
the Financial Statements and Auditor''s Report Thereon.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of
most significance in our audit of the standalone financial statements of the current
period. These matters were addressed in the context of our audit of the standalone
financial statements as a whole, and in forming our opinion thereon, and we do
not provide a separate opinion on these matters.

"We have determined that there are no key audit matters to communicate in our
report."

Other Information

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 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.

Management''s Responsibility for the Financial Statements

The Company''s Board of Directors are responsible for the matters stated in section
134(5) of the Act with respect to the preparation of these financial statements that
give a true and fair view of the financial position, financial performance, total

comprehensive income, changes in equity and cash flows of the Company in
accordance with the Ind AS and other accounting principles generally accepted in
India. This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding 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
operations, or has no realistic alternative but to do so. The Board of Directors are
also responsible for overseeing the Company''s financial reporting process.

Auditor''s Responsibilities 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 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 financial
statements.

As part of an audit in accordance with SAs, we exercise professional judgment and
maintain professional scepticism throughout the audit. We also:

• 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.71

• Obtain an understanding of internal financial controls relevant to the audit in
order to design audit Procedures that is 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 system in place and
the operating effectiveness of such controls.

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

• Conclude on the appropriateness of management''s use of the going concern
basis of accounting and, based on the audit evidence obtained, whether a material
uncertainty exists related to events or conditions that may cast significant doubt
on the Company''s ability to continue as a going concern. If we conclude that a
material uncertainty exists; we are required to draw attention in our auditor''s
report to the related disclosures in the 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 financial
statements, including the disclosures, and whether the financial statements
represent the underlying transactions and events in a manner that achieves fair
presentation.

• Materiality is the magnitude of misstatements in the financial statements 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 misstatements 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 the 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 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-A, a statement on the matters Specified in
paragraphs 3 and 4 of the Order.

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, Statement of Changes in Equity and the Statement of
Cash Flow dealt with by this Report are in agreement with the relevant books
of account.

d) In our opinion, the aforesaid financial statements comply with the Ind AS
specified under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.

e) On the basis of the written representations received from the directors as on
March 31, 2025 taken on record by the Board of Directors, none of the directors
are 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 the internal financial controls over financial
reporting of the Company and the operating effectiveness of such controls,
refer to our separate Report in "Annexure B". Our report expresses an
unmodified opinion on the adequacy and operating effectiveness of the
Company''s internal financial controls over financial reporting.

g) 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 financial statements.

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

iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company.

iv. The Management has represented that, to the best of its knowledge and belief,
no funds have been advanced or loaned or invested (either from borrowed
funds or share premium or any other sources or kind of funds) by the
Company to or in any other persons or entities, including foreign entities
("Intermediaries"), with the understanding, whether recorded in writing or
otherwise, that the Intermediary shall, directly or indirectly lend or invest in
other persons or entities identified in any manner whatsoever ("Ultimate
Beneficiaries") by or on behalf of the Company or provide any guarantee,
security or the like on behalf of the Ultimate Beneficiaries. v. The Management
has represented that, to the best of its knowledge and belief, no funds have
been received by the Company from any persons or entities, including foreign
entities ("Funding Parties"), with the understanding, whether recorded in
writing or otherwise, that the Company shall directly or indirectly, lend or
invest in other persons or entities identified in any manner whatsoever
("Ultimate Beneficiaries") by or on behalf of the Funding Parties or provide
any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

v. 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 as above in (iv)
and (v) under sub-clause (i) and (ii) of Rule 11(e) contain any material
misstatement.

vi. The company has not declared or paid any dividend during the year.

vii. Based on our examination which included test checks, except for the instances
mentioned below note 2.21, the Company has used an accounting software for
maintaining its books of account which has a feature of recording audit trail
(edit log) facility and the same has been operated throughout the year for all
relevant transactions recorded in the software at application level.

The feature of recording audit trail (edit log) facility was not enabled for certain
changes in the accounting software which can be performed by users having
privileged access (debug).

The feature of recording audit trail (edit log) facility was not enabled at the
database level to log any direct data changes for the accounting software used for
maintaining the books of accounts.

For CVS. Balachandra Rao & Co.,

Chartered Accountants
Firm Registration No. 007507S

Sd/-

CVS. Balachandra Rao
Partner

Membership No: 204580
UDIN: 25204580BMHZGH5906
Date: 27/05/2025
Place: Hyderabad

---

Mar 31, 2024

We have audited the accompanying Ind AS Financial Statements of TRIMURTHI LIMITED
(“the company”), which comprise the Balance Sheet as at 31st March, 2024, the Statement
of Profit and Loss (including Other Comprehensive Income), the Cash Flow Statement and
the Statement of changes in equity for the year then ended, and notes to 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 Act in the
manner so required and give a true and fair view in conformity with Indian Accounting
Standards prescribed under section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended, (“Ind AS”) and other accounting
principles generally accepted in India of the state of affairs of “the Company” as at March 31,
2024, its Net Profit, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with 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 Companies Act, 2013 and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the ICAI''s Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In connection with our audit of the Information Other than the Financial Statements and
Auditor''s 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 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.

Management’s Responsibility for the Financial Statements

The Company''s Board of Directors are responsible for the matters stated in section 134(5) of
the Act with respect to the preparation of these financial statements that give a true and fair
view of the financial position, financial performance, total comprehensive income,
changes in equity and cash flows of the Company in accordance with the Ind AS and other
accounting principles generally accepted in India. This responsibility also includes
maintenance of adequate accounting records in accordance with the provisions of the Act
for safeguarding 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 operations, or has no realistic alternative
but to do so.

The Board of Directors are also responsible for overseeing the Company''s financial
reporting process.

Auditor’s Responsibilities 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 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
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 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 is 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 system in place and the operating
effectiveness of such controls.

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

• Conclude on the appropriateness of management''s use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the Company''s
ability to continue as a going concern. If we conclude that a material uncertainty exists;
we are required to draw attention in our auditor''s report to the related disclosures in the
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 financial statements,
including the disclosures, and whether the financial statements represent the
underlying transactions and events in a manner that achieves fair presentation.

• Materiality is the magnitude of misstatements in the financial statements 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 misstatements 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 the 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 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-A, a statement on the matters Specified in paragraphs 3 and 4
of the Order.

2. 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, Statement of Changes in Equity and the Statement of Cash Flow dealt with by
this Report are in agreement with the relevant books of account.

d) In our opinion, the aforesaid financial statements comply with the Ind AS specified
under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014.

e) On the basis of the written representations received from the directors as on March 31,
2024 taken on record by the Board of Directors, none of the directors are 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 over financial reporting of
the Company and the operating effectiveness of such controls, refer to our separate
Report in “Annexure B”. Our report expresses an unmodified opinion on the adequacy
and operating effectiveness of the Company''s internal financial controls over financial
reporting.

g) 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 financial statements.

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

iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company.

iv. The Management has represented that, to the best of its knowledge and belief, no
funds have been advanced or loaned or invested (either from borrowed funds or share

premium or any other sources or kind of funds) by the Company to or in any other
persons or entities, including foreign entities (“Intermediaries”), with the
understanding, whether recorded in writing or otherwise, that the Intermediary shall,
directly or indirectly lend or invest in other persons or entities identified in any manner
whatsoever (“Ultimate Beneficiaries”) by or on behalf of the Company or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries.

v. The Management has represented that, to the best of its knowledge and belief, no funds

have been received by the Company from any persons or entities, including foreign
entities (“Funding Parties”), with the understanding, whether recorded in writing or
otherwise, that the Company shall directly or indirectly, lend or invest in other persons
or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on
behalf of the Funding Parties or provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries.

vi. 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 as above in (iv) and (v) under sub-clause (i) and (ii) of
Rule 11(e) contain any material misstatement..

vii. The company has not declared or paid any dividend during the year.

For P. Murali & Co.

Chartered Accountants

FRN: 007257S

Sd/-

A Krishna Rao

Partner

M.No.020085

UDIN No: 24020085BKAUIP9047

Place: Hyderabad

Date: 28-05-2024

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Mar 31, 2015

1. I have audited the accompanying standalone financial statements of TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED ('the Company'), which comprise the balance sheet as at 31st March £015, the statement of profit and loss and the cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Standalone Financial Statements

2. The Company's Board of Directors is responsible for the matters stated in Section 134{5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation of these standalone financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the 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; select ion 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 ta 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.

Auditor's Responsibility

3. My responsibility is to express an opinion on these standalone financial statements based on my audit. I have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

4. I conducted my audit in accordance with the Standards on Auditing specified under Section 143[10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

5. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment,

Including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal] financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Company has }n place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

6. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion on the standalone financial statements.

Opinion:

7. In my opinion and to the best of my information and according to the explanations given to me, the aforesaid standalone financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India.

a) In the case of the Balance sheet, of the state of affairs of the company as at 31st March, 2015.

b) In the case of the statement of profit and loss account of the profit for the year ended on that date and

c) In the case of the cash flow statement, of the cash flows of the company for the year ended on that date.

Report on Other Legal and Regulatory Requirements

8. As required by the Companies (Auditor's Report) Order, 2015 ("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 a statement on the matters specified In the paragraph 3 and 4 of the Order, to the extent applicable.

9. As required by Section 143 (3) of the Act, we report that-

(a) I have sought and obtained all the information and explanations which ta the best of our knowledge and belief were necessary for the purposes of our audit.

(b) in my opinion proper books of account as required by [aw 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 Joss and the cash flow statement dealt with by this Report are in agreement with the books of account:

(d) in my 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 31 March 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2015 from being appointed as a director in terms of Section 164 (2) of the Act; and

(f) 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 my opinion and to the best of my fan or mot ion and according to the explanations given to me.

i. The Company has disclosed the impact of pending litigation on its financial position in its financial statements.

ii. As the company is not having any long term contracts including derivatives contracts the provision on foreseeable losses is not applicable.

iii. The company is not required to transfer any funds to Investor Education and protection fund.

The Annexure referred to m paragraph 8 in our Independent Auditors' Report to the members of the Company on the standalone financial statements for the year ended 31 March 2015, we report that:

(i) The company has maintained proper records showing full particulars Including quantitative details and situation of fixed assets, (b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of the company and nature of its assets. No material discrepancies were noticed on such verification

(ii) (a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size af the company and nature of the business

c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii) (a) The Company had not granted secured or unsecured loans to companies, firms, or other parties covered in the register maintained under section 1B9 of the Companies Act, 2013.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal control.

(v) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vi) The central government has not prescribed maintenance of cast records under Section 148(1) of the Companies Act 2013

(vii) (a). The company is regular in depositing with appropriate authorities undisputed statutory dues including Income Tax, Value added Tax, Service Tax & Wealth Tax.

(b) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, Service Tax and cess, which have not been deposited on account of any dispute.

(c) The company is not required to transfer any amount to Investor Education A Protection fund in accordance with the relevant provisions of the Companies Act, 1956 (1 of 1956) and rules made there under,

(viii) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(ix) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(x) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xi) In my opinion, the company has not availed any term loans except availing of car loan.

(xii) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.

For K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS

FRN006374S



PUCE: HYDERABAD (K.VENKATE5WARA RAO)

DATE:27-05-2013 (PROPRIETOR)

M. NO. 027305

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Mar 31, 2014

1. I have audited the accompanying financial statements of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED (the "company") which comprise the Balance Sheet as at 31st March, 2014, the Statement of Profit & Loss and the Cash Flow Statement for the year ended on that date and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

2. The Company''s Management is responsible for the preparation 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 Standards referred to in Section 211(3C) of the Companies Act, 1956(the "Act") and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control 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.

Auditor''s Responsibility

3. My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with the Standards on Auditing issued by the Institute of Chartered accounts of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error, in making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

5. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

Opinion

6. In my opinion and to the best of my information and according the explanations given to me, the aforesaid financial statements give the information required by the act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) in the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2014.

(b) in the case of the Statement of Profit and Loss account, of the Profit for the year ended on that date and

(c) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date.

Report on Other Legal and Regulatory Requirements

7. As required by ''the Companies (Auditor''s Report) Order, 2003(the "Order")'' as amended by ''the Companies (Auditor''s Report)(Amendment) Order, 2004'' issued by the Central Government of India in terms of sub-section(4A) of section 227 of the Act(hereinafter referred to as the ''Order''), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to me, I give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

8. As required by Section 227(3) of the Act, I report that:

(a) I have obtained all the information and explanations which to the best of my knowledge and belief were necessary for the purposes of my audit.

(b) In my opinion, proper books of account as required by law have been kept by the Company so far as it appears from my 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 my opinion, the Balance Sheet, the Statement of Profit and loss, and the Cash Flow Statement comply with the Accounting Standards referred to in Section 211(3C) of the Act.

(e) On the basis of the written representations received from the directors taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2014 from being appointed as a director in terms of Section 274(1)(g) of the Act.

ANNEXURE TO THE AUDITOR''S REPORT

(Referred to in paragraph 7 under ''Report on Other Legal and Regulatory Requirements'' section of my report of even date),

(i) (a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

(b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, the company has not disposed off any major part of the plant and machinery.

(ii) (a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size of the company and nature of the business.

(c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii)(a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

(b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

(c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

(d) There is no overdue amount of loans granted to companies listed in the register maintained under section 301 of the Companies Act, 1956.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(v) (a). According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

(b). In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and nature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) of the Companies Act, 1956.

(ix) (a) The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees as the same is not applicable to the company and the company has not established Employees State insurance Act for its employees.

(b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2014 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies Auditor''s Report ) Order, 2003 are not applicable to the company.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans except availing of car loans.

(xvii) According to the information and explanations given to us and on an Overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii)According to the information and explanations given to me, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.

For K.VENKATESWARA RAO & ASSOCIATES CHARTERED ACCOUNTANTS FRN 006374S

K.VENKATESWARA RAO PROPRIETOR M.NO.027305

PLACE : HYDERABAD

DATE : 24.05.2014

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Mar 31, 2013

Report on the Financial Statements

1. I have audited the accompanying financial statements of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED (the "company") which comprise the Balance Sheet as at 31st March, 2013, the Statement of Profit & Loss and the Cash Flow Statement for the year ended on that date and a summary of the significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

2. The Company''s Management is responsible for the preparation 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 Standards referred to in Section 211(3C) of the Companies Act, 1956(the "Act") and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control 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.

Auditor''s Responsibility

3. My responsibility is to express an opinion on these financial statements based on my audit. 1 conducted my audit in accordance with the Standards on Auditing issued by the Institute of Chartered accounts of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

4. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error, in making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company''s internal control. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Management, as well as evaluating the overall presentation of the financial statements.

5. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

Opinion

6. In my opinion and to the best of my information and according the given to me, the aforesaid financial statements give the information required by the act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) in the case of the Balance Sheet, of the state of affairs of the company as at 31st March, 2013.

(b) in the case of the Statement of Profit and Loss account, of the Profit for the year ended on that date and

(c) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. Report on Other Legal and Regulatory Requirements

7. As required by ''the Companies (Auditor''s Report) Order, 2003(the "Order")'' as amended by ''the Companies (Auditor''s Report) (Amendment) Order, 2004'' issued by the Central Government of India in terms of sub-section(4A) of section 227 of the Act(hereinafter referred to as the ''Order''), and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to me, I give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

8. As required by Section 22 7 (3) of the Act, I report that:

a) I have obtained all the information and explanations which to the best of my knowledge and belief were necessary for the purposes of my audit.

b) In my opinion, proper books of account as required by law have been kept by the Company so far as it appears from my 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 my opinion, the Balance Sheet, the Statement of Profit and loss, and the Cash Flow Statement comply with the Accounting Standards referred to in Section 211 (3C) of the Act.

e) On the basis of the written representations received from the directors taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2013 from being appointed as a director in terms of Section 2 74(1) (g) of the Act.

ANNEXURE TO THE AUDITOR''S REPORT

(Referred to in paragraph 7 under ''Report on Other Legal and Regulatory Requirements'' section of my report of even date),

(i) a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

c] During the year, the company has not disposed off any major part of the plant and machinery.

(ii) a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size of the company and nature of the business.

c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(hi) a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

d) There is no overdue amount of loans granted to companies listed in the register maintained under section 301 of the Companies Act, 1956.

(iy) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(y) a) According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

b) In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and nature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) ofthe Companies Act, 1956.

(ix) a] The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees as the same is not applicable to the company and the company has not established Employees State insurance Act for its employees.

b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2013 for a period of more than six months from the date they became payable.

c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) ofthe Companies (Auditors Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor''s Report) Order, 2003 are not applicable to the company.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans except availing of car loans.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii) According to the information and explanations given to me, the company has made preferential allotment of shares numbering 13,50,000 to parties and companies not covered in the register maintained under section 301 of the Act.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit

For K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS FRN 006374S (K.VENKATESWARA RAO) (PROPRIETOR)

M.No. 200/27305

PLACE: HYDERABAD

DATE : 01.08.2013

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Mar 31, 2012

1. I have audited the attached balance sheet of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED as at 31st March, 2012, and also the Statement of Profit & Loss and the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audit.

2. I have conducted my audit in accordance with the accounting standards generally accepted in India. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.

3. As required by the Companies (Auditor's Report) Order, 2003, as amended by the Companies (Auditor's Report) (Amendment) Order, 2004 issued by the Central Government of India in terms of Sub-section(4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to my comments in the Annexure referred to above, I report that:

(i) I have obtained all the information and explanations, which to the best of my knowledge and belief were necessary for the purposes of my audit;

(ii)ln my opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books.

(iii)The balance sheet, the profit and loss account and cash flow statement dealt with by this report are in agreement with the books of account.

(iv)ln my opinion, the balance sheet, the profit and loss account and the cash flow statement dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956;

(v) On the basis of written representations received from the directors, as on 31st March, 2012 and taken on record by the Board of Directors, I report that none of the directors is disqualified as on 31st March, 2012 from being appointed as a director in terms of clause(g) of sub-section(l) of section 274 of the Companies Act, 1956.

(vi) In my opinion and to the best of my information and according to the explanations given to me, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give true and fair view in conformity with the accounting principles generally accepted in India:

(a) in the case of the balance sheet, of the state of affairs of the company as at 31st March, 2012.

(b) in the case of the profit and loss account, of the Profit for the year ended on that date.

(c) In the case of cash flow statement, of the cash flows for the year ended on that date.

ANNEXURE

Referred to in paragraph 3 of my report of even date,

(i) a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets.

b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

c) During the year, the company has not disposed off any major part of the plant and machinery.

(ii) a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

b) The procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to size of the company and nature of the business.

c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii) a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

d) There is no overdue amount of loans granted to companies listed in the register maintained under section 301 of the Companies Act, 1956.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, I have not observed any continuing failure to correct major weakness in internal controls.

(v) a) According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

b) In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and pature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) of the Companies Act, 1956.

(ix)a) The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees as the same is not applicable to the company and the company has not established Employees State insurance Act for its employees.

b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2012 for a period of more than six months from the date they became payable.

c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is not dealing in or trading in shares, securities, debentures and other investments. Accordingly, the provisions of clause 4(xiv) of the Companies (Auditor's Report ) Order, 2003 are not applicable to the company.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans except availing of car loans.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii) According to the information and explanations given to me, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.

For K.VENKATESWARA RAO & ASSOCIATES,

Chartered Accountants.

FRN006374S

SD/-

(K.VENKATESWARA RAO),

Place : Hyderabad, Proprietor.

Date : 21st July 2012. M.No. 200/27305

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Mar 31, 2010

1. I have audited the attached balance sheet of M/s TRIMURTHI DRUGS & PHARMACEUTICALS LIMITED as at 31st March, 2010, and the Profit & Loss A/c for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. My responsibility is to express an opinion on these financial statements based on my audit.

2. I conducted my audit in accordance with the accounting standards generally accepted in India. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.

3. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of Sub-section(4A) of section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said order.

4. Further to my comments in the Annexure referred to above, I report that:

(i) I have obtained all the information and explanations, which to the best of my knowledge and belief were necessary for the purposes of my audit;

(ii) In my opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books.

(iii) The balance sheet and the profit and loss account dealt with by this report are in agreement with the books of account.

(iv) In my opinion, the balance sheet and the profit and loss account dealt with by this report comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956.

(v) On the basis of written representations received from the directors, as on 31st March, 2010 and taken on record by the Board of Directors, we report that none of the directors is disqualified as on 31st March, 2010 from being appointed as a director in terms of clause(g) of sub-section(l) of section 274 of the Companies Act, 1956.

(vi) In my opinion and to the best of our information and according to the explanations given to me, the said accounts give the information required by the Companies Act, 1956, in the manner so required and give true and fair view in conformity with the accounting principles generally accepted in India:

(a) In the case of the balance sheet, of the state of affairs of the company as at 31st March, 2010.

(b) In the case of the profit and loss account, of the Profit for the year ended on that date.

ANNEXURE

Referred to in paragraph 3 of my report of even date,

(i) (a) The company has maintained proper records showing full particulars

including quantitative details and situation of fixed assets.

(b) All the assets have been physically verified by the management during the year and in my opinion, the frequency of verification is reasonable having regard to the size of he company and nature of its assets. No material discrepancies were noticed on such verification.

(c) During the year, the company has not disposed off any major part of the plant and machinery.

(ii) (a) The inventory has been physically verified during the year by the management. In my opinion, the frequency of verification is reasonable.

(b) The procedures of physical verification of inventories followed by the man agement are reasonable and adequate in relation to size of the company and nature of the business.

(c) The company is maintaining proper records of inventory. The discrepancies noticed on verification between physical stock and book records were not material.

(iii) (a) The company had not taken any loans from the companies covered in the register maintained under section 301 of the Companies Act, 1956.

(b) In my opinion, the rate of interest and other terms and conditions on which loans have been granted to companies listed in the register maintained under section 301 of the Companies Act, 1956 are not prima facie, prejudicial to the interest of the company.

(c) The parties to whom loans have been given, have repaid the principle amounts as stipulated and have been regular in the payment of interest.

(d) There is no overdue amount of loans granted to companies listed in the register maintaned under section 301 of the Companies Act, 1956.

(iv) In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and with regard to the sale of goods. During the course of my audit, i have not observed any continuing failure to correct major weakness in internal controls.

(v) (a) According to the information and explanations given to me, we are of the opinion of that transactions that need to be entered into the register maintained under Section 301 of the Companies Act, 1956 have been so entered.

(b) In my opinion and according to the information and explanations given to me, the transactions made in pursuance of contracts of arrangements entered in the register maintained under section 301 of the Companies Act, 1956 and exceeding the values of rupees five lakhs in respect of any party during the year have been made at prices which are reasonable having regard to prevailing market prices at the relevant time.

(vi) In my opinion and according to the information and explanations given to me, the company has not accepted any deposits from the public during the year under reference.

(vii) In my opinion, the company has an adequate internal audit system commensurate with the size and nature of its business.

(viii) As per the information given to me, the Central government has not prescribed maintenance of Cost records under Section 209(1) (d) of the Companies Act, 1956.

(ix) (a) The company is regular in depositing with appropriate authorities undisputed statutory dues. As explained to me the company has not established any Provident Fund Scheme to its employees, as the provisions of the Provident Fund Act and Employees State Insurance Act are not applicable to this company.

(b) According to the information and explanations given to me, no undisputed amounts payable in respect of income tax, wealth tax, sales tax, customs duty, excise duty and cess were in arrears, as at 31st March, 2010 for a period of more than six months from the date they became payable.

(c) According to the information and explanations given to me, there are no dues of income tax, sales tax, wealth tax, excise duty and cess, which have not been deposited on account of any dispute.

(x) The company is not having any accumulated losses. The company has not incurred cash losses during the financial year covered by our audit and also for the immediately preceding financial year.

(xi) In my opinion and according to the information and explanations given to me, the company has not defaulted in repayment of dues to bank.

(xii) In my opinion the company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In my opinion, the company is not a chit fund or a nidhi mutual benefit fund/society. Therefore, the provisions of clause 4(xiii) of the Companies (Auditors Report) Order, 2003 are not applicable to the Company.

(xiv) In my opinion, the company is dealing in and trading in shares, securities, debentures and other investments and accordingly, the company has maintained adequate records to show full particulars of the transactions and contracts entered into in respect of dealing and trading in shares, securities and other investments and the timely entries have been made in such records.

(xv) In my opinion and according to the explanations given to me, the company has not given any guarantees for loans taken by others from banks or financial institutions.

(xvi) In my opinion, the company has not availed any term loans.

(xvii) According to the information and explanations given to us and on an overall examination of the balance sheet of the company, we report that the funds raised on short-term basis have not been used for long term investment. And no long term funds have been raised by the company.

(xviii) According to the information and explanations given to me, the company has not made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the Act.

(xix) According to the information and explanations given to me, during the period covered by my audit report, the company has not issued any debentures.

(xx) The company, during the year has not raised money by public issues.

(xxi) According to the information and explanations given to me, no fraud on or by the company has been noticed or reported during the courses of my audit.



For K.VENKATESWARA RAO & ASSOCIATES

CHARTERED ACCOUNTANTS

PLACE : HYDERABAD K.VENKATESWARA RAO

DATE : 23rd July 2010 PROPRIETOR

M.NO.027305 FRN 006374S