We have audited the accompanying financial statements of ABRAM FOOD LIMITED
(formerly known as Abram Food Private Limited) (the “Company”), which comprise the
Balance Sheet as at March 31, 2025, the Statement of Profit and Loss, the Statement of
Changes in Equity and the Statement of Cash Flows ended on that date, and a summary of
significant accounting policies and other explanatory information (hereinafter referred to as
the “financial statements”).

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 Standards prescribed under section 133 of the Act read with Rule 7 of the
Companies (Accounts) Rules, 2014, as amended, and other accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2025 and its profit,
changes in equity and its cash flows for the year ended on that date.

Basis for Opinion :

We conducted our audit of the financial statements in accordance with the Standards on
Auditing (“SA”s) specified under section 143(10) of the Act. Our responsibilities under those
Standards are further described in the Auditor’s 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
(“ICAI”) together with the ethical requirements that are relevant to our audit of the financial
statements under the provisions of the Act and the Rules made thereunder, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the
iCAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficienL and
appropriate to provide a basis for our audit opinion on the financial statements.

Information Other than the Financial Statements and Auditor’s Report Thereon

The Company’s Board of Directors and Management 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 Annexures to Board’s
Report, Business Responsibility and Sustainability Report, Corporate Governance Report,
and Shareholder 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.

If, based on the work we have performed, we conclude that there is a material misstatement
of this other information, we are required to report that fact. We have nothing to report in this
regard. ; ' .

Responsibility of Management and Those Charged with Governance (TCWG)

The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of
the Companies Act, 2013 (“the Act”) w.ith respect to the preparation of these financial
statements that give a true and fair, view of the financial position, financial performance,
changes in equity and cash flows of the Company in accordance with the accounting
principles generally accepted in India, including the 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; of the assets of the Company and for preventing
and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and
design, implementation and maintenance of adequate internal financial controls, that were
operating effectively for ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the financial statements that give a true and
fair view and are free from material 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 the Board of Directors
either intends to liquidate the Company onto 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—^ Ý
process. . .

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Auditor’s Responsibility

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 judgement and maintain
professional skepticism throughout the audit. We also:

® Identify and assess the risks of material misstatement of the Financial Results,
whether due to fraud or error, design and perform audit procedures responsive to
' those risks, and obtain audit evidence that is sufficient and appropriate to provide a
basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion,

. forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal financial controls relevant to the audit in order to

: design audit procedures that are appropriate in the circumstances. Under section

; 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether

the company has adequate internal financial controls with reference to financial
: statement in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates made by the Board of Directors.

• Conclude on the appropriateness of the Board of Directors’ use of the going concern
' basis of accounting and, based on; the audit evidence obtained, whether a material

uncertainty exists related to events or conditions that may cast significant doubt on the
ability of the Company to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the
related disclosures in the Financial Statement 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 Results,

: including the disclosures, and whether the Financial Results represent the underlyingrs^

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transactions and events in a manner.that achieves fair presentation.

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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. .

Report on Other Legal and Regulatory Requirements

1. As required by Section 1‘43 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the
^: best of our knowledge and belief were necessary for the purposes of our audit.

; . (b) In our opinion, proper books of account as required by law have been kept by the

Company so far as it appears from our examination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss, Statement of Changes in
Equity and the Statement of Cash Flows 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 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
. 31/03/2025 taken on record by the Board of Directors, none of the directors is

disqualified as on 31/03/2025 from being appointed as a director in term
. Section 164(2) of the Act.

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(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 A”. 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 the requirements of section 197(16) of the Act, as amended:

In our opinion and to the best of our information and according to the
explanations given to us, remuneration has been paid by the Company to its
directors during the year.

(h) With respect to the other matters to be included in the Auditor’s Report in
accordance with Rule 1 i of the Companies (Audit and Auditors) Rules, 2014, in
pur opinion and to the best of our information and according to the explanations
given to us:

. i. The Company has no pending litigations during the financial year under

consideration. . .

ii. The Company has made provision, as required under the applicable law or
applicable accounting standards, for material foreseeable losses, if any, on
long-te’rm contracts including derivative contracts.

iii. There has been no transfer of amount to the Investor Education and Protection
Fund by the Company, as the company was not required to do so.

iv. In respect of funds advanced/ received: •

a) 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 or entity, 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; .

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[31 FRN10D53I

b) 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 received by the company from any person or entity,

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,

Ý security or the like on behalf of the Ultimate Beneficiaries; and

c) Based- on our audit: procedures we considered these reasonable and

Ý appropriate in the circumstances and nothing.has come to our notice
that has caused us to believe that the representations under sub-clause
(a) and (b) contain any material mis-statement,

v. No Dividend has been declared or paid by the company during the year.

vi. Based on our examination, which included test checks, the Company has used
accounting software Tally 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 and the same has operated throughout the year for all relevant transactions
; recorded in the software. Further, during the course of our audit we did not come

across any instance of the audit trail feature being tampered with and the audit
: trail has been preserved by the Company as per the statutory requirements for

record retention. '

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

For GAUR & ASSOCIATES

Chartered Accountants :

FRN: 005354C Ý

Satish Kr. Gupta

Partner :

M. No. 016746 Place: New Delhi

UDIN:ZTd/fi'F'ffi fD 6 00%- _Date; 05/06/2025