We have audited the accompany Ingflnartdal statements of NUTECH GLOBAL LIMITED (“the Company”), which comprise the Balance
Sheet as at March 31,2024, the Statement of Profit and Loss(includlng othercomprehensive Income), Statement of Cash Flow and
theStatemerrt of Changes In Equity for the year then ended and a summary of significant accounting policiesand other explanatory
Information, (hereinafter refemedto as “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
Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules,
2015, as amended, (*lnd AS”) and other accounting principles generally accepted In India, of the state of affairs of the Company as at
March31,2024, the profit and total comprehensive income, changes in equity and its cash flows for the year ended on that data.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) 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 together with the independence requirements that are relevant to our audit of the financial statements under the
provisions of the Companies Act, 2013 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 bel ieve that the aud it evidence we have obtainedissufficierTtand
appropriate to provide a basis for our opinion on the financial statements.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements
of the current period. These matters were addressed In the context of our audit of the financial statements as a whole, and In forming our
opinion thereon, 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
Information Othar than the Financial Statements and Auditor's Report Thereon
The Company's management and Board of Directors are responsible for the preparation of other Information. The other
informationcomprises the information included in the Company's annual report, but does not include the financialstatements and our
auditors' report thereon.
Our opinion on the financial statements does not cover the other information and we do not express anyform of assurance conclusion
thereon.
In connection with our audit of the financial statements, our responsibility Is to read the other informationand, in doing so, consider
whether the other Information Is materially Inconsistent with the financialstatements or our knowledge obtained In the audit or otherwise
appears to ba materially misstated. If, based orrthe work we have performed, we conclude that there is a material misstatement of this
other Information, we arerequlredtoreport that fact to those charged with governance. We have nothing to report In this regard.
Responsibility of Management and Those charged with governance forthe Financial Statements
The Company's management and Board of d i rectors aieresponsibleforthe matters insection134(5)oftheCompanies Act, 2013 (“the
Act”) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial
performance including othercomprehensive income, cash flows and changes in equity of the Company in accordance with
accounting principles generally accepted In India Including the I ndlan Accounting Standards <lnd AS) referred to In section 133 of the Act.
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 Ind AS 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
intsndsto liquidate the Company orto cease operations, or has no realistic alternative but to do so.
The Company’s Management and Board of Directors is 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 auditors 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 tolrrfluencetheeconomlcdeclslonsofuserstakenonthe basis of these financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skeptidsmthroughoutthe 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 orderto design audit procedures that are appropriate In the
circumstances. Under section 143(3)(l) 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 Ina 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 acope 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 ouraudit.
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 i n the
audit of the financial statements of the current period and are therefore the key audit matters. We describe these mailers 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 Ad, we give In the AnnexureA, a statement on the matters spedfled In the paragraph 3 and 4 of the
Order, to the extent applicable.
(2) As required by section 143(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) ln 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), the cash flow statement and Statement of
Changes in Equity dealt with by this Report are in agreement with the books of account;
(d) ln our opinion, the aforesaid Ind AS financial statements comply with the Indian Accounting Standards specified under Sedlon 133 of
the Ad except in lndAS-19 “Employee Benefits'where in the Company has not provided liability for Gratuity on actuarial valuation basis;
(e) on the basis of the written representations received from the directors as on 31 March 2024 taken on record by the Board of Diredois,
none of the directors is disqualified as on 31 March 2024 from being appointed as a director in terms of Section 164 (2) of the Act; and
(f) with rasped to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness
of Buch controls, refer to our separate report In 'An nexu re B’.Our report expresses an unmodified opinion on the adequacy and operating
effectiveness of the Company's internal financial controls overfinancial reporting.
(g) With resped 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 ouroplnlon and to the best of our Information and according to the explanations given to us:
(I) the company has disclosed thelmpad, If any, of pending litigations on Its INDAS financial position In Its IndAS financial statements
(II) as per the Information provided to us by the management, the company has not entered In to long term oontrad Including derivative
contracts forwhich provisioning is required;
(iii) (a) The management has represented that to the best of its knowledge and belief, other than those disclosed in the notes to the
accounts, no funds have been advanced or loaned or Invested (Eitherfrom borrowed funds, share capital or any other source or kind of
funds) by the company to or in any other person(s) or entity(s), including foreign entities (“intermediaries’), with the understanding that
the intermediary shall whether directly or indirectly lend or invest in other persons or entities identified in any manner by or on behalf of the
company (Ultimate Beneficiaries) or provide any guarantee, securttyorthellkeon behalf of ultimate beneficiaries.
(b) The management has represented that to the best of Its knowledge and belief, other than those disclosed In the notes to the accounts,
no funds have been received by the company from any person(s) or entities including foreign entities (“Funding Parties') with the
understanding that such oompany shall whether, directly or Indirectly, lend or Invest In other persons or entitles Identified In any manner
whatsoever by or on behalf of the funding parly (ultimate beneficiaries) or provide guarantee, security or the like on behalf of the Ultimate
beneficiaries
(c) Based on the audit procedures that we have considered reasonable and appropriate in the circumstances, nothing has come to our
notice that has caused us to believe that the above representations given by the management under paragraph (2) (g) (III) (a) and (b)
above contain any material misstatement.
(hr) There is no requ irement of transfer of amount i n Investor Education & Protection fond. (I EPF).
(h) the company has used such 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 transactions recorded In the software and the audit trail feature
has not been tampered with and the audit trail has been preserved by the company as per the statutory requirements for record
retentions.
(3) With respect tothematterto be Included In the Auditors' Report under section 197(16):
tn our opinion and according to the Information and explanations given to us, the remuneration paid by the Company to Its directors
during the current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director is not in
excess of the limit laid down under Section 197 of the Act
For RHDA& ASSOCIATES
CHARTERED ACCOUNTANTS
Sdf-
[DINESH A6AL]
PARTNER
UDIN 24417439BKEKWK4492
M. NO.: 417439
FRN: - 014438C
PLACE: BHILWARA
DATE: 29.5.2024
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