ఆడిటర్ నివేదిక Black Opal Consultants Ltd.

We have audited the Standalone financial statements of BLACK OPAL CONSULTANTS LIMITED (“the
Company”), which comprise the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss and
the Cash Flow Statement for the year ended on that date and notes to the financial statements, including a
summary of significant accounting policies and other explanatory information (hereinafter referred to as the
“Standalone financial statements”).

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 (the “Act") 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 31^st March 2026 and its Profit and its cashflows
for the year ended on that date.

Basis for Opinion

We cond unfed our audit of the standalone 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 Standalone 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 (“[CAr¹) together with the ethical requirements that are relevant to our audit
of the standalone 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 sufficient and appropriate to provide a basis
for our opinion on the standalone financial statements.

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

The Company’s Board of Directors is responsible for the other information. The other information comprises
the information included in the Company’s annual report but does not include the financial statements and
our auditors’ report thereon.

Our opinion on the standalone financial statements does not cover the other information and we will 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 identified above when it becomes available and, in doing so, consider whether the other
information is materially inconsistent with the standalone financial statements or our knowledge obtained
during the course of our audit or otherwise appears to be materially misstat(k*^?g5^v

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.

Responsibilities of Management and tnose Charged with Governance for the Standalone Financial
Statements

The Company’s BoarJ of Directors is responsible for the matters stated in Section 134(5) of the Act with
respect to the preparation 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, includingthe Accounting Standards specified under Section 133 of the
Act. This responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act forsafeguardingthe assets of the Company and for preventing and detectingfrauds 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, re levant to the preparation and presentation of the standalone financial statements that
give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone 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 ana using
the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company
or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalone 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
standalone financial statements.

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

• 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 oui 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, orthe override of
internal control.

• Obtain an understanding of internal control relevant to the audit in orderto design audit procedures
that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we
are also responsible for expressing our opinion on whether the Company has adequate internal
financial controls with reference to standalone financial statements 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 the management and Board of Directors.

• 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.

• Evaluate the overall presentation, structure, and content of the standalone financial statements,
includingthe disclosures, and whetherthe standalone financial statements representthe underlying
transactions and events in a manner that achieves fair presentation.

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 the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central
Government of India in terms of sub-section (11) of sectionl43 of the Act, we give in the “Annexure-
A” a statement on the matters Specified in paragraphs 3 and 4 of the Order, to the extent applicable.

2. (A) As required by section 143(3) of the Act, we further 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 purpose of our audit;

b. in ou r opinion, proper books of account as required by law have been kept by the Company
so far as appears from our examination of those books;

c. The Company does not have any branch office, and accordingly the questic n of a branch
auditor''s report does not arise.

d. the Balance Sheet, the Statement of Profit and Loss and cash flow statement dealt with by
this Report are in agreement with the books of account;

e. in our opinion, the aforesaid Standalone financial statements comply with the applicable
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules 2014;

f. Based on the audit procedures performed and according to the information and
explanations given to us, we have not observed any financial transactions or matters that
have an adverse effect on the functioning of the Company

g. on the basis of written representations received from the directors as on March 31, 2026,
and taken on record by the Board of Directors, none of the directors is disqualified as on
March 31,2026, from being appointed as a director in terms of Section 164(2) of the Act;

h. In our opinion and according to the information and explanations given to us, there are
no qualifications, reservations, dr adverse remarks relating to the maintenance of
accounts and other matters connected therewith. ^====2^

(C) With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the
Act:

In our opinion and according to the information and explanations given to us, the
remuneration paid to directors during the year is within the limits prescribed under Section
197 of the Companies Act, 2013. The Ministry of Corporate Affairs has not prescribed other
detai Is under Section 197(16) of the Act which are required to be commented upon by us.