ఆడిటర్ నివేదిక Ganesh Consumer Products Ltd.

We have audited the accompanying financial statements of
Ganesh Consumer Products Limited (Formerly Known as
Ganesh Grains Limited) (“the Company”) which includes trust
[Refer Note 1 to the financial statements], which comprise the
Balance Sheet as at March 31,2026, the Statement of Profit and
Loss (including other comprehensive income), the statement of
changes in equity and the Statement of Cash Flows for the year
then ended on that date, and notes to the financial statements,
including a summary of the material accounting policies and
other explanatory information (herein after referred to as the
financial statements).

In our opinion and to the best of our information and according to
the explanations given to us and based on the consideration of
report of other auditor on the audited financial statement of the
Trust, the aforesaid financial statements give the information
required by the Companies Act, 2013, as amended (“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, (“Ind AS”) and other
accounting principles generally accepted in India, of the state of
affairs of the Company and trust as at March 31,2026, its profit
including other comprehensive income 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 (SAs) specified under section
143(10) of the Act. Our responsibilities under those SAs 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 and trust in accordance with the
Code of Ethics issued by the Institute of Chartered Accountants
of India (ICAI) together with the independence requirements that
are relevant to our audit of the financial statements under the
provisions of the Act and the Rules 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 and other auditor in terms
of their report referred to in other matter paragraph below is
sufficient and 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
judgement, 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. For each matter below, our
description of how our audit addressed the matter is provided
in that context.

Information Other than the financial statements
and Auditors’ 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 Director''s Report but does not
include the financial statements and our auditors'' report thereon.
The Director''s report is expected to be made available to us after
the date of this auditor''s report.

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 identified above
when it becomes available and, in doing so, consider whether
the other information is materially inconsistent with the financial
statements or our knowledge obtained in the audit or otherwise
appears to be materially misstated. When we read the Director''s
report if we conclude that there is a material misstatement
therein, we are required to communicate the matter to those
charged with governance.

Management’s Responsibility for the Financial
Statements

The Company''s Board of Directors is responsible for the matters
stated in section 134(5) of the Act with respect to the preparation
of these financial statements that give a true and fair view of
the state of affairs (financial position), profit or loss (financial
performance), total comprehensive income, changes in equity
and cash flows of the Company in accordance with the Ind AS
and other accounting principles generally accepted in India. The
Board of Directors of the company and trustee of the trust are
responsible for the maintenance of adequate accounting records
in accordance with the provisions of the Act, the safeguarding
of the assets of the Company and trust and prevention and
detection of 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, the Board of Directors of the
Company and trustee of the trust is responsible for assessing the
ability of the Company and trust 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 of the Company / trustee of the trust either intends to
liquidate the Company and trust or to cease operations or has no
realistic alternative but to do so.

The Board of Directors and trustee of the trust are also
responsible for overseeing the financial reporting process of the
Company and the trust.

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 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:

• 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 control 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.

• 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 ability of the Company and trust 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 auditors''
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 in a manner that achieves
fair presentation.

• Obtain sufficient appropriate audit evidence regarding the
financial statements of the trust which is included in the
Company''s financial statements to express an opinion
on the financial statements. For the trust included in the
financial statements, which have been audited by other
auditor, such other auditor remain responsible for the
direction, supervision and performance of the audits
carried out by them. We remain solely responsible for
our audit opinion.

Materiality is the magnitude of misstatements in the financial
statements that individually or in aggregate, make 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 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 Matter

The financial statements of trust included in the financial
statements of the Company, which constitute total assets
of Rs. 1000.10 Lakhs as at March 31, 2026, total revenue of
Rs. Nil, total comprehensive income of Rs. (0.05) Lakhs and
net cash inflow amounting to Rs. 0.63 Lakhs for the year then
ended, have been prepared in accordance with generally
accepted accounting principles applicable to trusts in India. The
Company''s management has converted the financial statements
of such trusts from the accounting principles generally accepted
in India to Accounting Standards specified under Section 133 of
the Act. We have audited these conversion adjustments made
by the Company''s management. Our opinion in so far as it
relates to the amounts and disclosures included in respect of the
trust, is based on the report of other auditors and the conversion
adjustments prepared by the management of the Company
and audited by us.

Report on Other Legal and Regulatory
Requirements

1. As required by the Companies (Auditors'' Report) Order,
2020 (“the Order”) issued by the Central Government of
India in terms of section 143(11) 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. 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) 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; except
for the matters stated in the paragraph 2(i)(vi) below
on reporting under Rule 11(g) of the Companies
(Audit and Auditors) Rules, 2014;

c) The Balance Sheet, the Statement of Profit and Loss
including the statement of other comprehensive
Income, the Statement of Cash Flows and statement
of changes in equity dealt with by this report are in
agreement with the books of accounts;

d) In our opinion, the aforesaid financial statements
comply with the Indian Accounting Standards
specified under section 133 of the Act read with
Companies (Indian Accounting Standards) Rules
2015 as amended;

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

f) The modifications relating to the maintenance of
accounts and other matters connected therewith are
as stated in the paragraph 2(b) above on reporting
under Section 143(3)(b) of the Act and paragraph
2(i)(vi) below on reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014.

g) In our opinion, the managerial remuneration for the
year ended March 31, 2026 has been paid/provided
by the Company to its directors in accordance
with the provisions of Section 197 read with
Schedule V to the Act;

h) With respect to the adequacy of the internal financial
controls over financial reporting of the Company
with reference to these financial statements and the
operating effectiveness of such controls, refer to our
separate report in “Annexure B” to this report;

i) With respect to the other matters to be included
in the Auditors'' Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules,
2014, as amended, in our opinion and to the
best of our information and according to the
explanations given to us:

i. The Company and trust has disclosed the impact
of pending litigations as at March 31, 2026 on
its financial position in its financial statements
[Refer Note 45 to the financial statements];

ii. The Company and trust did not have any
long-term contracts including derivative
contracts for which there were any material
foreseeable losses;

iii. There has been no delay in transferring amounts,
required to be transferred, to the Investor
Education and Protection Fund by the Company.

iv. (a) The management has represented that, to

the best of it''s knowledge and belief, 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; [Refer Note 50
(iv) to the financial statements]

(b) The management has represented, that,
to the best of it''s knowledge and belief, 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, security or the
like on behalf of the Ultimate Beneficiaries;
[Refer Note 50 (v) to the financial
statements] and

(c) Based on such audit procedures that
we 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 (a)
and (b) contain any material misstatement.

v. The dividend declared or paid during the year
by the Company is in compliance with Section
123 of the Act.

vi. Based on our examination, which included test
checks, except for the instances mentioned
below, the company has used an accounting
software for maintaining its books of account
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 respective software and we
did not come across any instances of audit
trail feature being tampered with during the
course of our audit:

i. The feature of recording audit trail (edit log)
facility was not enabled at the database
level to log any direct data changes for the
payroll software used for maintaining the
books of accounts.

Additionally, the audit trail to the extent enabled has
been preserved by the company as per the statutory
requirements for record retention [Refer Note 50 (xii) to the
financial statements].

For SINGHI & Co.

Chartered Accountants
Firm‘s Registration No. 302049E

(Rahul Bothra)

Partner

Place: Kolkata Membership No. 067330

Date: May 22, 2026 UDIN: 26067330BVHSCX9179