ఆడిటర్ నివేదిక RFBL Flexi Pack Ltd.

Mar 31, 2025

We have audited the accompanying financial statements of RFBL Flexi Pack
Limited [Formerly Known as RFBL Flexi Pack Private Limited]("the Company”)
which comprise the Balance Sheet as at March 31, 2025,the Statement of
Profit and Loss and Cash Flow Statement for the year then ended, and a
summary of significant accounting policies and other explanatory information.

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 Companies Act, 2013 (“the Act”) with respect to the
preparation of these financial statements that give a true and fair view of the
financial position, and financial performance and cash flows of the Company in
accordance with the accounting principles generally accepted in India,
including the Accounting Standards specified under Section 133 of the Act!
read with Rule 7 of the Companies (Accounts) Rules, 2014.

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 financial
statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based
on our audit. We have taken into account the provisions of the Act the
accounting and auditing standards and matters which are required to be

included in the audit report under the provisions of the Act and the Rules
made thereunder.

We conducted our audit in accordance with the Standards on Auditing
specified under Section 143(10) of the Act. Those Standards require that we
comply With ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from
material misstatements.

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
financial 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 m the circumstances. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of the
accounting estimates made by to Company''s directors, as well as evaluating
toe overall presentation of the financial statements.

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

Opinion

In our opinion and to the best of our information and according to the

explanations given to us, the financial statements give the information required

by the Act in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in India;

(a) in the case of the Balance sheet, of the state of affairs of the Company as

(b) in the case of the statement of profit and loss of the loss for the year ended on that date; and

(c) in the case of the cash flow statement of the cash flows for the year
Report on Other Legal and Regulatory Requirements

1. As required by the companies (Auditor''s report) order 2016 {"the order”)
as issued by Central Government of India in terms of sub section (11) of
section 143 of toe Act, we give in the "Annexure A” a statement on the
matters specifies in paragraphs 3 and 4 of the order.

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

a) We have sought and obtained all the information and expirations 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 as it appcars from our examination of those

c) The Balance Sheet, the Profit and Loss Statement and the Cash Flow

Statement dealt with by this Report are in agreement with the books of
account;

d) In our opinion, the aforesaid 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;

e) On the basis of the written representations received from the directors as
on March 31, 2025, taken on record by the Board of Directors, none of
the directors is disqualified as on March 31, 2025, from being appointed
as a director in terms of Section 164 (2) of the Act;

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

g) In our opinion and to the best of our information and according to the
explanations given to us, we report as under with respect to other
matters to be included in the Auditor’s Report in accordance with Rule
11 of the Companies (Audit and Auditors) Rules, 2014;

(i) As explained to us,the company did not have any pending
litigation and disclosure of impact of pending litigation on financial
position is not applicable to it.

(ii) The Company assesses periodically the foreseeable losses on all its
long term contracts. As at the end of the year under report there
were no such foreseeable losses. The Company did not have any
derivative contracts as at the date of Balance Sheet.

(iii) As explained to us, there is no amount required to be transferred
to Investor Education and Protection Fund and Cess by the
Company,

For, B.S. Thakker & Co.

Chartered Accountants
Peer Review No : 020247

Place: Ahmedabad b. S. Thakker

Date: 31/07/2025 . Proprietor

Membership No: 113020

UDIN : 25113020BKJPIA7404