We have audited the accompanying standalone annual financial results of Concord Control Systems Limited ("The Company") for the period 1st April 2023 to 31st March 2024, attached herewith, being submitted by the Company pursuant to Regulafion 33 of the Securities and Exchange Board of India (Lisfing Obligafion and Disclosure Requirements) Regulafions, 2015, as amended ("Lisfing Regulafions) In our opinion and to the best of our informafion and according to the explanafions given to us the standalone financial results:

a. are presented in accordance with the requirements of Regulafion 33 of the Lisfing Regulafions in this regard; and

b. give a true and fair view in conformity with the recognifion and measurement principles laid down in the applicable accounfing standards and other accounfing principles generally accepted in India of the net profit and other financial informafion for the period from 01st April, 2023 to 31st March, 2024.

Basis for Opinion

We conducted our audit in accordance with the Standards on Audifing (SAs) specified under Secfion 143 (10) of the Companies Act, 2013. Our responsibilifies under those Standards are further described in the Auditor's Responsibilifies for the Audit of the Standalone Financial Results secfion of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Insfitute of Chartered Accountants of India together with the ethical requirements that

are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilifies in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the standalone financial results.

Key Audit Matter

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. We have determined that there are no key audit matters to communicate in our

Management's Responsibility for the Financial Statements

The Company's board of directors are responsible for the matters stated in secfion 134 (5) of the Act with respect to the preparafion of these financial statements that give a true and fair view of the financial posifion, financial performance and cash flows of the Company in accordance with the accounfing principles generally accepted in India, including the accounfing standards specified under secfion 133 of the Act. This responsibility also includes maintenance of adequate accounfing records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for prevenfing and detecfing frauds and other irregularifies; selecfion and applicafion of appropriate accounfing policies; making judgments and esfimates that are reasonable and prudent; and design, implementafion and maintenance of adequate internal financial controls, that were operafing effecfively for ensuring the accuracy and completeness of the accounfing records, relevant to the preparafion and presentafion of the standalone financial results that give a true and

fair view and are free from material misstatement, whether due to fraud or error

In preparing the financial results, management is responsible for assessing the Company's ability to confinue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounfing unless management either intends to liquidate the Company or to cease operafions, or has no realistic alternafive but to do so. The boards of directors are also responsible for overseeing the Company's financial reporfing process.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the standalone financial results 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:

i. Identify and assess the risks of material misstatement of the standalone 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.

ii. 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 statements in place and the operating effectiveness of such controls.

iii. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related

disclosures made by management

iv. Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit

evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

v. Evaluate the overall presentation, structure and content of the standalone financial results, 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.

Other Matters

The statement include results for the half year ended 31 March 2024 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to half year ended 30 September 2023 of the current financial year which are subject to limited review by us. Our opinion is not modified in respect of the above matter.

For SETH & ASSOCIATES

Place: Lucknow CHARTERED ACCOUNTANTS

Date : 28-05-2024 FRN No 001167C

UDIN : 24404028BKGUXX3610

Sd/-

Dhruv Seth (M. No 404028) Partner