We have audited the accompanying standalone financial statements of KIRAN SYNTEX LTD, ("the
Company"), which comprise the Balance Sheet as at March 31, 2024, and the Statement of Profit
and Loss,and Cash Flow Statement for the year then ended, and notes to the financial statements
including a summary of significant accounting policies and other explanatory information.

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In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid standalone financial statements give the information required by the Companies
Act, 2013 in the manner so required and give a true and fair view in conformity with the
accounting principles generally accepted in India, of the state of affairs of the Company as at
March 31, 2024, and its profit/loss, and its cash flows for the year ended on that date.

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Basis for opinion

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We conducted audit in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the companies act, 2013. Our responsibilities under those Standards are further
described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our
report. We are independent of the company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India together with the ethical requirements that are
relevant to our audit of the financial statements under the provisions of the Companies Act, 2013
and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance
with these requirements and the Code of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.

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Management's Responsibility for the Standalone Financial Statements

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The Company's Board of Directors are responsible for the matters stated in section 134(5) of the
Companies Act 2013 ("the act') with respect to preparation of these standalone financial
statements that give a true and fair view of the financial position, financial performance including
other comprenensive income, cash flow and changes in equity of the company in accordance
with accounting principles genarally acceptable in India, including the accounting standards
specified under section 133 of the act. This responsibility also includes maintanance of adequate
accounting records in accordance with provisions of the act for safeguarding assets of the
company and for preventing and detecting frauds and other irregularities, selection and
applications of, appropriate accounting policies, making judgments and estimates that are
reasonable and prudent, and design implementation and maintenance of adeqaute financial
internal controls, that were operating effectively for ensuring the accuracy and completeness of
accounting records,relevant to the preparation and presentation of the financial statements that
give a true and fair view and are free from any 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
concernand 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 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. An audit involves performing procedures to obtain
audit evidence about the amounts and 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 of the
financial statements that give a true and fair view in order to design audit procedures that are
appropriate in the financial circumstances but not for the purpose of expressing an opinion on
effectiveness of the company's internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of the accounting estimates
made by management, as well as evaluating the overall presentation of the 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 Statements,
whether due to fraud or error, design and perform audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.

ii. Report that based on our audit and in our opinion, the internal financial control system in
designed and operating effectively to provide reasonable assurance regarding the reliability of
financial reporting and preparation of financial statements.

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
Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor's report. However, future
events or conditions may cause the Company to cease to continue as a going concern.

v. 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.

vi. 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.

vii. We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our audit opinion on the standalone financial statements.

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INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITORS' REPORT THEREON

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The Company's Board of Directors is responsible for the other information. The other information
comprises the information included in the Annual Report, but does not include the Standalone
Financial Statements and our auditors' report thereon. Our opinion on the Standalone Financial
Statements does not cover the other information and we do not express any form of assurance
conclusion thereon. In connection with our audit of the Standalone Financial Statements, our
responsibility is to read the other information and, in doing so, consider whether such other
information is materially inconsistent with the financial statements or our knowledge obtained in the
audit or otherwise appears to be materially misstated. If, based on the work we have performed, we
conclude that there is a material misstatement of this other information, we are required to report
that fact. We have nothing to report in this regard.

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Report on Other Legal and Regulatory Requirements

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1. As required by the Companies (Auditors Report) Order 2020,('the order') issued by the Central
Government of terms of section 143 (11) of the companies act 2013. We enclose Annexure "A"
statement on the matters specified in paragraph 3 & 4 of the said order, to the extent applicable.

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2. As required by section 143 (3) of the Act, we report that:

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a) We have sought and obtained all the information & explanation which to the best of our
knowledge and belief were necessary for the purpose of our audit;

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b) In our opinion, proper books of account as required by law have been kept by the
Company so far as appears from our examination of the books ;

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c) the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by

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this report are in agreement with the books of account;

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d) In our opinion, the aforesaid standalone financial statements comply with the Accounting
Standards specified under section 133 of the act read with Companies (Accounting
Standards) Rule 2021.

e) On the basis of written representations received from the directors as on 31st March
2024, and taken on record by the Board of Directors, none of the directors is disqualified
as on 31st March 2024 from being appointed as a director in terms of section 164(2) of
the act.

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

(ii) 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(s) or entity(ies), including foreign entities ("Funding Parties"),
with the understanding, whether recorded in writing or otherwise, that the company
shall, whether, directly or indirectly, lend or invest in other persons or entities identified
in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries")
or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

(iii) Based on our audit procedures which we have considered reasonable and appropriate
in the circumstances, nothing has come to our notice that has caused us to believe that
the representations under sub-clause (i) and (ii) contain any material mis-statement."

g) With respect to the adequacy of internal financial controls with reference to financial
statements of the company and the operating effectiveness of such controls, refer to our
separate report in "Annexure B", and

h) With respect to the other matters to be included in the Auditor's Report in accordance
with rule 11 of the Companies (audit and Auditors) Rules 2014, in our opinion and to the
best of our information and according to the explanations given to us:

i. The company had not disclosed the impact of pending litigations on its financial
position in its financial statements - Refer Note No.39 to the financial statements;

ii. The company did not have any long term contracts including derrivative contracts
for which there were any forseable losses

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

iv. No dividend declared or paid during the year by the company.

v. Based on our examination and test checks, the company has used accounting
software for maintaining its books of accounts and the software has a feature of
recording audit trail facility. As represented by the management this facility was
enabled through out the year. As per proviso to rule 3(1) of the companies
(Accounts) Rule 2014, is applicable from 1st April 2023, therefore reporting on
preservation of audit trail is not applicable for financial year ended on 31st March
2024.

for, MM S & ASSOCIATES
Chartered Accountants,

(F.R.No.: 110250W)

PRAMOD BOTHRA
Partner
M. No.: 42831
DATE :May 29, 2024
PLACE : SURAT

1003, Rathi Palace, Ring Road, Surat 395 002.

UDIN :24042831BKFALB8206