ఆడిటర్ నివేదిక Swiggy Ltd.

Mar 31, 2026

1. We have audited the accompanying standalone
financial statements of Swiggy Limited (formerly
known as Swiggy Private Limited, Bundl Technologies
Private Limited) (''the Company'') which includes the
Swiggy Employee Stock Option Trust (''the Trust''),
which comprise the Standalone Balance Sheet as at
31 March 2026, the Standalone Statement of Profit
and Loss (including Other Comprehensive Income), the
Standalone Statement of Cash Flow, the Standalone
Statement of Changes in Equity for the year then ended
and notes to the standalone financial statements,
including material accounting policy information and
other explanatory information.

2. 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 Indian Accounting
Standards (''Ind AS'') specified under Section 133 of
the Act read with the Companies (Indian Accounting
Standards) Rules, 2015 and other accounting principles
generally accepted in India, of the state of affairs of

the Company as at 31 March 2026, its loss (including
other comprehensive income), its cash flows and the
changes in equity for the year ended on that date.

Basis for Opinion

3. We conducted our audit in accordance with the
Standards on Auditing 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 (''ICAI'') 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 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.

Key Audit Matters

4. Key audit matters are those matters that, in our
professional judgment, were of most significance in
our audit of the standalone financial statements of
the current period. These matters were addressed in
the context of our audit of the standalone financial
statements as a whole, and in forming our opinion
thereon, and we do not provide a separate opinion on
these matters.

5. We have determined the matters described below to be the key audit matters to be communicated in our report.

Key Audit Matters	How our audit addressed the Key Audit Matters
Revenue recognition from platform services	Our audit procedures included, but were not limited to, the
Refer Note 2.5 for material accounting policy information and	following:
Note 21 for financial disclosures in the standalone financial	• Obtained an understanding of the Company''s
statements.	revenue streams, incentive/ promotional schemes,
The Company generates revenue from providing an e-commerce platform to partner merchants (including restaurant merchants, grocery merchants and delivery partners) facilitating them to sell	underlying contractual arrangements and assessed the appropriateness of the revenue recognition accounting policies in accordance with Ind AS 115.
their food, grocery, and other items to the users of the platform.	• Obtained an understanding and evaluated the design
The platform is also used to make restaurant reservations and	and implementation of key financial controls (including
for various other services.	IT controls) and tested their operating effectiveness with
Revenue recognition as per Ind AS 115, ''Revenue from contracts	respect to the revenue recognition process.
with customers'' (Ind AS 115''), involve significant judgements in	• Involved the auditor''s IT specialists and :
identification of customer and determining transaction price after considering adjustments for discounts/ incentives.	- obtained an understanding of the Company''s information processing systems, databases, operating
	systems, IT general controls, automated controls and manual IT dependent controls which were relevant to our audit;

Key Audit Matters	How our audit addressed the Key Audit Matters
The Company operates in a highly technology-driven environment with respect to its platform services comprising of multiple information technology (IT) systems to enable users of the platform to place orders, order fulfillment by partner merchants through delivery partners, followed by settlement of transactions and financial reporting thereof. The Company''s reliance on its IT systems is significant for the performance of its daily operations. Considering the complexity, multiple IT systems and significant volume of data being processed by such systems, the revenue recognition from platform services has been identified as key audit matter for the current year''s audit.	- tested IT general controls around user access management, system change management, program maintenance, system interface etc; and - tested automated controls, manual IT dependent controls and controls over system generated reports relevant for revenue recognition. • Verified the reconciliation of data between the reports generated from Company''s internal system with the general ledger (financial reporting IT system). • Performed substantive testing on a sample basis by examining underlying contracts, system records and other supporting documentation to verify occurrence, accuracy, timing and presentation of revenue including variable consideration adjusted from revenue. • Performed analytical review procedures on revenue recognized during the year to identify any unusual trends and / or material variances. • Assessed the adequacy and appropriateness of revenue related disclosures in the standalone financial statements in accordance with the requirements of Ind AS 115.
Key Audit Matters	How our audit addressed the Key Audit Matters
Impairment assessment of investment in, loans given and	Our audit procedures included, but were not limited to, the
security deposits provided to a subsidiary and an associate	following:
Refer Notes 2.9 and 2.12 for material accounting policy	• Obtained an understanding of the management''s process
information and Notes 5 and 6 for financial disclosures in the	for identification of possible impairment indicators for
standalone financial statements	investments and significant increase in credit risk relating to
The Company has an investment in a wholly owned subsidiary,	loans and security deposits receivable.
Swiggy Networks Limited (formerly known as Swiggy Networks	• Evaluated the appropriateness of accounting policies
Private Limited, Scootsy Logistics Private Limited) amounting	in respect of impairment testing and expect credit loss
to '' 4,489 crores, investment in an associate, Loyal Hospitality	determination in accordance with Ind AS 36 and Ind AS 109.
Private Limited amounting to '' 54 crores (net of impairment loss	• Evaluated the design and implementation of relevant
of '' 13 crores) and also has outstanding balance of loans and
security deposits receivable of '' 2,764 crores from subsidiary	controls and tested the operating effectiveness of key
as of 31 March 2026. These investments are accounted for at	controls which inter-alia include controls around the
cost less impairment in the Company''s standalone financial	reasonableness of input data considered and assumptions
statements.	made in determining the recoverable value of investments,
	loans and security deposits receivable.
As per the requirement of Ind AS 36, ''Impairment of assets''	• Assessed the professional competence and objectivity of
(''Ind AS 36''), the management reviews whether there are any
indicators of impairment of the investments at the end of each	the external valuation expert engaged by the management
reporting period, and where impairment indicators exist, such	to estimate the recoverable value.
investments are tested for impairment. Further, management	• Involved auditor''s valuation specialists to assess the
reviews whether there is any significant increase in credit risk in	appropriateness of the valuation methodology approach
the carrying value of loans given and security deposits provided	and reasonableness of key assumptions used in projections
to subsidiary at year-end in accordance with the requirements	including revenue growth rate, terminal growth rate and
of Ind AS 109 ''Financial Instruments'' (''Ind AS 109'').	discount rate , basis understanding of the business.
The subsidiary and associate have historically incurred losses	• Assessed the future cash flow projections used for performing
which continued during the current year. Management has	aforesaid valuation with approved business plans of the
considered such losses incurred by the subsidiary and associate	subsidiary and the associate. Further, compared the past
as an indicator for impairment assessment.	projections with actual results to determine reasonableness
The Management has assessed the recoverability of the said	of the same.
investments, loans and security deposits by carrying out	• Tested the arithmetical accuracy of the valuation workings
a valuation of the subsidiary and associate company. The	including those related to sensitivity analysis performed by
Value In Use of the underlying businesses is determined based	the management.
on the Discounted Cash Flow (DCF) method, which requires
management to make significant estimates and assumptions	• Assessed the sensitivity of the outcome of the impairment
including turnover, growth rates and net margins relating to the	assessment to a reasonably possible change in key
forecast of future business performance, cash flow forecasting	assumptions such as revenue growth rates, terminal growth
and the selection of the discount rates to determine the	rate and weighted average cost of capital to determine
recoverable value to be considered for impairment testing of	estimation uncertainty involved and impact on conclusions
the carrying value of the above-mentioned balances. Changes	drawn basis headroom available.

Key Audit Matters	How our audit addressed the Key Audit Matters
in the aforesaid estimates and assumptions can lead to	•	Assessed the adequacy and appropriateness of the
significant changes in the assessment of the recoverable value		disclosures made in the standalone financial statements,
and accordingly impairment provisions.		including disclosure of significant assumptions, judgements
Considering the significance of the amounts involved and		and sensitivity analysis performed, in accordance with the
auditor attention required to test the appropriateness of accounting estimate that involves high estimation uncertainty and significant management judgement, this matter has been determined to be a key audit matter for the current year''s audit.		requirement of the applicable accounting standards.
Key Audit Matters	How our audit addressed the Key Audit Matters
Impairment assessment of Goodwill	Our audit procedures included, but were not limited to, the
Refer Notes 2.2 and 2.9 for material accounting policy information	following:
and Note 4 for financial disclosures in the standalone financial statements.	•	Evaluated the appropriateness of the accounting policies relating to impairment testing of goodwill in accordance with Ind AS 36.
The standalone financial statements of the Company as at
31 March 2026 carries goodwill amounting to '' 315 crores in relation to the cash-generating unit (''CGU'') - Out of Home Consumption. As per the requirement of Ind AS 36, ''Impairment of assets''	•	Obtained an understanding of the management''s process for identification of cash generating unit, allocation of goodwill to such CGU, and processes performed by the management for impairment testing of goodwill.
(''Ind AS 36''), Goodwill is tested annually for impairment by the	•	Evaluated the design, implementation of relevant controls
management which involves determination of the recoverable		and tested operating effectiveness of key controls relating
amount of the related CGU. The value in use of the CGU is		to impairment assessment of goodwill and determination of
based on a Discounted Cash Flow ("DCF”) model and involves use of significant estimates and assumptions including turnover, growth rates and net margins used to calculate projected future	•	recoverable amount. Involved auditor''s valuation specialists to assess the
cash flows, risk adjusted discounted rate, future economic		appropriateness of the valuation methodology and
and market conditions. Changes in aforesaid estimates and		approach and reasonableness of key assumptions used in
assumptions can lead to significant changes in the assessment		projections including revenue growth rate, terminal growth
of the recoverable value and accordingly impairment provisions.		rate and discount rate used , basis understanding of the business.
Considering the significance of the amounts involved and auditor attention required to test the appropriateness of	•	Assessed the future cash flows projections used for
accounting estimate that involves high estimation uncertainty		performing aforesaid valuation to approved business plans
and significant management judgement, this matter has been determined to be a key audit matter for the current year''s audit.		of CGU. Further, compared the past projections with actual results to determine reasonableness of the projections.
	•	Tested the arithmetical accuracy of the valuation model and assessed the sensitivity of the outcome of the impairment assessment to a reasonably possible change in key assumptions such as revenue growth rates, terminal growth rate and weighted average cost of capital to determine estimation uncertainty involved and impact on conclusions drawn basis headroom available.
	•	Assessed the adequacy and appropriateness of the disclosures made in the standalone financial statements, including disclosure of significant assumptions, judgements and sensitivity analysis performed, in accordance with the requirement of the applicable accounting standards.

Information other than the Standalone Financial
Statements and Auditor''s Report thereon

6. The Company''s Board of Directors are 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 auditor''s report thereon. The Annual Report is
expected to be made available to us after the date of
this auditor''s report.

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 in the audit or otherwise appears to be
materially misstated.

When we read the Annual Report, if we conclude
that there is a material misstatement therein, we are
required to communicate the matter to those charged
with governance.

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

7 The accompanying standalone financial statements
have been approved by the Company''s Board
of Directors. The Company''s Board of Directors
are responsible for the matters stated in Section
134(5) of the Act with respect to the preparation
and presentation of these standalone financial
statements that give a true and fair view of the
financial position, financial performance including
other comprehensive income, changes in equity and
cash flows of the Company in accordance with the
Ind AS specified under Section 133 of the Act and
other accounting principles generally accepted in
India. This responsibility also includes maintenance of
adequate accounting records in accordance with the
provisions of the Act for safeguarding of 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.

8. In preparing the standalone financial statements,
the Board of Directors 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 the Board of Directors either intends
to liquidate the Company or to cease operations, or
has no realistic alternative but to do so.

9 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

10. 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 Standards on
Auditing 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.

11. As part of an audit in accordance with Standards on
Auditing, specified under Section 143(10) of the Act
we exercise professional judgement and maintain
professional skepticism throughout the 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 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)0) 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 Board of
Directors'' 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; and

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

12. 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.

13. 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.

14. From the matters communicated with those charged
with governance, we determine those matters that
were of most significance in the audit of the standalone
financial statements of the current period and are
therefore the key audit matters. We describe these
matters 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.

Other Matter

15. The standalone financial statements of the Company
for the year ended 31 March 2025 were audited by
the predecessor auditor, B S R & Co. LLP, who had
expressed an unmodified opinion on those standalone
financial statements vide their audit report dated 09
May 2025.

Report on Other Legal and Regulatory Requirements

16. As required by Section 197(16) of the Act, based on
our audit, we report that the Company has paid
remuneration to its directors during the year in
accordance with the provisions of and limits laid down
under Section 197 read with Schedule V to the Act.

17. As required by the Companies (Auditor''s 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 I a statement on the matters specified
in paragraphs 3 and 4 of the Order, to the extent
applicable.

18. Further to our comments in Annexure I, as required by
Section 143(3) of the Act based on our audit, we report,
to the extent applicable, 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 of the accompanying
standalone financial statements;

b) Except for the matters stated in paragraph 18(h)
(vi) below on reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014

(as amended), 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;

c) The standalone financial statements dealt with
by this report are in agreement with the books of
account;

d) In our opinion, the aforesaid standalone financial
statements comply with Ind AS specified under
Section 133 of the Act;

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

f) The qualification relating to the maintenance of
accounts and other matters connected therewith
are as stated in paragraph 18(b) above on
reporting under Section 143(3)(b) of the Act and
paragraph 18(h)(vi) below on reporting under Rule
11(g) of the Companies (Audit and Auditors) Rules,
2014 (as amended);

g) With respect to the adequacy of the internal
financial controls with reference to financial
statements of the Company as on 31 March 2026
and the operating effectiveness of such controls,
refer to our separate report in Annexure II wherein
we have expressed an unmodified opinion; 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
(as amended), in our opinion and to the best of our
information and according to the explanations
given to us

i. The Company, as detailed in Note 33 to
the standalone financial statements, has
disclosed the impact of pending litigations
on its financial position as at 31 March 2026;

ii. The Company did not have any long-term
contracts including derivative contracts for
which there were any material foreseeable
losses as at 31 March 2026;

iii. There were no amounts which were required
to be transferred to the Investor Education
and Protection Fund by the Company during
the year ended 31 March 2026;

iv. a. The management has represented that,

to the best of its knowledge and belief, as
disclosed in Note 45 (v) to the standalone
financial statements, no funds have been
advanced or loaned or invested (either
from borrowed funds or securities premium
or any other sources or kind of funds) by

the Company to or in any person(s) or
entity(ies), including foreign entities (''the
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 (''the Ultimate Beneficiaries'') or
provide any guarantee, security or the like
on behalf the Ultimate Beneficiaries;

b. The management has represented that,
to the best of its knowledge and belief, as
disclosed in Note 45 (vi) to the standalone
financial statements, no funds have
been received by the Company from any
person(s) or entity(ies), including foreign
entities (''the 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; and

c. Based on such audit procedures
performed as considered reasonable and
appropriate in the circumstances, nothing
has come to our notice that has caused
us to believe that the management
representations under sub-clauses (a)
and (b) above contain any material
misstatement;

v. The Company has not declared or paid any
dividend during the year ended 31 March
2026; and

vi. Based on our examination which included
test checks, except for instances mentioned
below, the Company, in respect of financial
year commencing on 1 April 2025, has used
accounting software for maintaining its
books of account which have a feature of
recording audit trail (edit log) facility and the
same have been operated throughout the
year for all relevant transactions recorded

in the software. Further, during the course
of our audit, other than the consequential
impact of the exceptions given below, we did
not come across any instance of audit trail
feature being tampered with. Furthermore,
except for matters mentioned below, the
audit trail (edit logs) have been preserved
by the Company as per the statutory
requirements for record retention.

• The audit trail feature was not enabled
at the database level to log any direct
data changes for accounting software
used for the maintenance of revenue and
delivery related records by the Company.
Consequently, the audit trail (edit logs)
has not been preserved by the Company
as per the statutory requirements for
record retention at the database level.

• The accounting software used for
the maintenance of payroll records is
operated by a third-party software
service provider. In the absence of any
information on existence of audit trail
(edit logs) for any direct changes made
at the database level in the ''Independent
Service Auditor''s Assurance Report (''Type
2 report'' issued in accordance with ISAE
3402), we are unable to comment on
whether audit trail feature with respect
to the database of the said software
was enabled and operated throughout
the year. Consequently, we are unable to
comment on the preservation of the audit
trail at the database level.

For Walker Chandiok & Co LLP

Chartered Accountants
Firm''s Registration No.: 001076N/N500013

Sd/-

Aasheesh Arjun Singh

Partner

Membership No.: 210122
UDIN: 26210122JXEBCW5440

Bengaluru
08 May 2026

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Mar 31, 2025

We have audited the standalone financial statements of
Swiggy Limited (formerly known as Swiggy Private Limited,
Bundl Technologies Private Limited) (the "Company"), its
employee welfare trust which comprise the standalone
balance sheet as at 31 March 2025, and the standalone
statement of profit and loss (including other comprehensive
income), standalone statement of changes in equity and
standalone statement of cash flows for the year then
ended, and notes to the standalone financial statements,
including material accounting policies and other
explanatory information.

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 ("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 March 2025,
and its loss and other comprehensive income, changes in
equity and its cash flows for the year ended on that date.

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 SAs 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 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 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
on the standalone financial statements.

Key Audit Matter(s)

Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the
standalone financial statements of the current period.
These matters were addressed in the context of our audit
of the standalone financial statements as a whole, and
in forming our opinion thereon, and we do not provide a
separate opinion on these matters.

Revenue Recognition
See Note 2.5 and 21 to standalone financial statements
The key audit matter	How the matter was addressed in our audit
	5. On a sample basis, tested the underlying records including the attributes from the contracts relating to revenue recognition and recalculated the revenue amount.
	6. Assessed the adequacy of disclosures made in the financial statements in accordance with the applicable accounting standards.
Impairment of Investment in and Loans to subsidiaries and associates
See Note 2.9, 2.12, 5 and Note 6 to standalone financial statements
The key audit matter	How the matter was addressed in our audit
The Company has investments in subsidiaries amounting to INR 31,948 million and INR 671 million in associates and also has outstanding loans receivable of INR 24,141 million from subsidiaries as of 31 March 2025. The associate has historically recorded losses which continued during the current year. Further, the financial statements and audit report for the associate for the previous year ended 31 March 2024, has also highlighted disclose material uncertainty with respect to going concern which requires the Company to assess it for impairment. Investments in subsidiaries and associate are accounted for at cost less impairment in the Company''s standalone financial statements. Company''s assessment of impairment contains a number of parameters which involve significant judgements and estimates including revenue growth, cash flow forecasting, weighted average cost of capital and other recent financing transactions. Changes in these assumptions, could lead to an impact over fair value of investment and accordingly impairment	In view of the significance of the matter we applied the following audit procedures in this area, amongst others, to obtain audit evidence: 1. Assessed whether the company''s impairment assessment accounting policies are consistent with the applicable accounting standards. 2. Evaluated the design, implementation and operating effectiveness of the processes and internal controls relating to impairment of Investments in subsidiaries and associate and related disclosures in the financial statements. 3. Involved valuation specialists to assess the reasonableness of the methodology, approach and key assumptions used by the Company. 4. Assessed the sensitivity of the outcome of the impairment assessment to a reasonably possible change in key assumptions such as revenue growth rates, EBIDTA growth rates, terminal growth rate and weighted average cost of capital.
Due to the financial quantum of the assets as well as the involvement of critical judgements, estimates and assumptions, annual impairment has been considered as a key audit matter.	5. Assessed the adequacy of the disclosures made in the financial statements in compliance with the applicable accounting standards.

Revenue Recognition
See Note 2.5 and 21 to standalone financial statements
The key audit matter	How the matter was addressed in our audit
The Company provides an e-commerce platform to enable restaurant and other merchant partners to sell their food, grocery, and other items to users of platform. The platform is also used to make restaurant reservations and for various other services. The restaurant and other merchant partners utilize the Company''s platform to provide these goods and services to the users of the platform on which Company earns commission which is recognised as revenue.	In view of the significance of the matter we applied the following audit procedures in this area, amongst others, to obtain audit evidence: 1. Assessed whether the company''s revenue recognition policies are consistent with the applicable accounting standards. 2. Obtained an understanding and evaluated the design, implementation and tested the operating effectiveness of -
The Company operates in a highly tech-driven environment with respect to its platform businesses, where IT systems enable users of platform to place orders in the platform and order fulfillment by delivery executives. Accordingly, the Company relies significantly on its IT systems for the performance of its daily operations. Considering the complexity and numerous IT systems involved, and significant volume of data processed by these systems, revenue recognition relating to revenue from platform services has been identified as key audit matter.	3.	i. the general IT controls, automated controls, and control over system generated reports relevant for revenue recognition by involving internal Information Technology (IT) specialists. ii. control over reconciliations performed between the revenue recorded and collections from the payment gateway. iii. manual journal entry controls to record revenue over monthly basis. Tested the operating effectiveness of IT dependent manual controls. Further, performed analytical procedures and tested reconciliations between reports generated from Company''s internal system with general ledger.
	4.	Assessed manual journals posted to revenue to identify unusual or irregular items.

Impairment of goodwill
See Note 2.2, 2.3 and 4 to standalone financial statements
The key audit matter	How the matter was addressed in our audit
The standalone financial statements of the Company as at 31 March 2025 carries goodwill amounting to INR 3,149 million in relation to the CGU - Out of Home Consumption.	In view of the significance of the matter we applied the following audit procedures in this area, amongst others, to obtain audit evidence:
The annual impairment testing of goodwill within such CGU has been considered as a key audit matter considering that the assessment process is complex and involves significant judgement to estimate the recoverable amount. The recoverable amount of the CGU, which is the value in use has been derived from discounted forecast cash flow models. These models use several assumptions, including estimates of revenue growth, EBIDTA growth, terminal growth rates and weighted average cost of capital.	1. Assessed whether the company''s impairment assessment accounting policies are consistent with the applicable accounting standards. 2. Evaluated the design, implementation and operating effectiveness of the processes and internal controls relating to impairment of goodwill and related disclosures in the financial statements. 3. Assessed the appropriateness of the assumptions applied to key inputs such as revenue growth rate, EBIDTA growth rate, weighted average cost of capital and terminal growth rates. Performed sensitivity analysis over key assumptions.
	4. Assessed accuracy of Company''s past projections by comparing historical forecast to actual results.
	5. Involved internal valuation specialists to assess the reasonableness of the valuation by evaluating the assumptions, methodologies and approach used by the Company.
	6. Verified the adequacy of disclosures made in the financial statements in compliance with Ind AS 36.

Other Information

The Company''s Management and Board of Directors are
responsible for the other information. The other information
comprises the information included in the Annual report,
but does not include the financial statements and auditor''s
report thereon. The Annual report is expected to be made
available to us after the date of this auditor''s report.

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 in the audit, or otherwise appears
to be materially misstated.

When we read the Annual report, if we conclude that there
is a material misstatement therein, we are required to
communicate the matter to those charged with governance
and take necessary actions, as applicable under the
relevant laws and regulations.

Management''s and Board of Directors Responsibilities
for the Standalone Financial Statements

The Company''s Management and Board of Directors are
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
state of affairs, profit/ loss and other comprehensive
income, changes in equity and cash flows of the Company
in accordance with the accounting principles generally
accepted in India, including the Indian Accounting
Standards (Ind AS) specified under Section 133 of the Act.
This responsibility also includes maintenance of adequate
accounting records in accordance with the provisions of the
Act for safeguarding of 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 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, the
Management and Board of Directors are 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 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
throughout the 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 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 the Management and
Board of Directors.

• Conclude on the appropriateness of the Management
and Board of Directors use of the going concern basis
of accounting in preparation of standalone financial
statements 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, including the
disclosures, and whether the standalone financial
statements represent the 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.

From the matters communicated with those charged with
governance, we determine those matters that were of
most significance in the audit of the standalone financial
statements of the current period and are therefore the key
audit matters. We describe these matters 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 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 A. 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(B)(f) below on reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014.

c. The standalone balance sheet, the standalone
statement of profit and loss (including other
comprehensive income), the standalone
statement of changes in equity and the
standalone statement of cash flows dealt with
by this Report are in agreement with the books
of account.

d. In our opinion, the aforesaid standalone financial
statements comply with the Ind AS specified
under Section 133 of the Act.

e. On the basis of the written representations
received from the directors as on 01 April 2025
taken on record by the Board of Directors, none of
the directors is disqualified as on 31 March 2025
from being appointed as a director in terms of
Section 164(2) of the Act.

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

g. With respect to the adequacy of the 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".

B. 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

a. The Company has disclosed the impact of
pending litigations as at 31 March 2025 on its
financial position in its standalone financial
statements - Refer Note 33(b) to the standalone
financial statements.

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

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

d (i) The management has represented that, to the

best of its knowledge and belief, as disclosed

in the Note 45 (v) to the standalone financial
statements, 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
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 its knowledge and belief, as
disclosed in the Note 45 (vi) to the standalone
financial statements, 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 directly or indirectly, lend
or invest in other persons or entities identified
in any manner whatsoever by or on behalf of
the Funding Parties ("Ultimate Beneficiaries")
or provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries.

(iii) Based on the audit procedures that
have been 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) of Rule 11(e), as
provided under (i) and (ii) above, contain any
material misstatement.

e. The Company has neither declared nor paid any
dividend during the year.

f. Based on our examination which included test
checks, the Company has used accounting
softwares for maintaining its books of account
which have a feature of recording audit trail (edit
log) facility, and the same has been operating
throughout the year for all relevant transactions
recorded in the softwares, except that:

• In respect of the accounting softwares used
for revenue and delivery cost process, the
feature of audit trail (edit log) facility was
not enabled at the database level to log any
direct data changes.

• In respect of the accounting software used
for payroll records, which is operated by a

third party service provider, in the absence
of sufficient and appropriate reporting on
compliance with audit trail requirements in
the independent auditor''s report of a service
organization available from 1 April 2024 to
30 September 2024 and in the absence
of independent auditor''s report in relation
to controls at service organization from 1
October 2024 to 31 March 2025, we are
unable to comment whether the feature of
audit trail (edit log) facility was enabled and
operated at the database level to log any
direct data changes.

- Further, where audit trail (edit log) facility was
enabled and operated for the respective
accounting softwares, we did not come across
any instance of the audit trail feature being
tampered with.

- Additionally, where audit trail (edit log) facility was
enabled and operated in previous year(s), the
audit trail has been preserved by the Company as
per the statutory requirements for record retention,
except for the instance(s) mentioned below:

• For accounting softwares used for
maintaining the books of account relating
to general ledger and payroll records, which
is operated by a third-party software service
provider, we are unable to comment whether
the audit trail has been preserved by the
Company as per the statutory requirements
for record retention.

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 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. The Ministry of Corporate Affairs has not
prescribed other details under Section 197(16) of the
Act which are required to be commented upon by us.

For B S R & Co. LLP

Chartered Accountants
Firm''s Registration No.:101248W/W-100022

Sd/-

Sampad Guha Thakurta

Partner

Place : Bengaluru Membership No.: 060573

Date : 09 May 2025 ICAI UDIN:25060573BMOKES9873

---

Mar 31, 2024

To the Members of Swiggy Limited (formerly known as Swiggy Private Limited, Bundl Technologies Private Limited)Report on the Audit of the Standalone Financial Statements

We have audited the standalone financial statements of Swiggy Limited (formerly known as Swiggy Private Limited, Bundl Technologies Private Limited) (the “Company”) which comprise the standalone balance sheet as at 31 March 2024, and the standalone statement of profit and loss (including other comprehensive income), standalone statement of changes in equity and standalone statement of cash flows for the year then ended, and notes to the standalone financial statements, including material accounting policies and other explanatory information.

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 (“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 March 2024, and its loss and other comprehensive loss, changes in equity and its cash flows for the year ended on that date.

We conducted our audit 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 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 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 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 on the standalone financial statements.

We draw attention to Note 45(b) of the financial statements, which highlights the change in number of weighted average equity shares considered for calculation of restated loss per share for the year ended on 31 March 2023.

Our opinion is not modified in respect of this matter.

The Company’s Management and Board of Directors are 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 state of affairs, profit/ loss and other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under Section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting '' j frauds and other irregularities; selection and application of appropriate accounting policies; making At 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 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, the Management and Board of Directors are 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 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.

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 throughout the 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 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 the Management and Board of Directors.

• Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting in preparation of standalone financial statements 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, including the disclosures, and whether the standalone financial statements represent the 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.

/j) We also provide those charged with governance with a statement that we have complied with relevant V 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.

1. As required by the Companies (Auditor’s 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 A. 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(B)(f) below on reporting under Rule 11 (g) of the Companies (Audit and Auditors) Rules, 2014.

c. The standalone balance sheet, the standalone statement of profit and loss (including other comprehensive income), the standalone statement of changes in equity and the standalone statement of cash flows dealt with by this Report are in agreement with the books of account.

d. In our opinion, the aforesaid standalone financial statements comply with the Ind AS specified under Section 133 of the Act.

e. On the basis of the written representations received from the directors as on 31 March 2024 taken on record by the Board of Directors, 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.

f. The qualification relating to the maintenance of accounts and other matters connected therewith are as stated in the paragraph 2A(b) above.

g. With respect to the adequacy of the 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”.

B. 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:

a. The Company has disclosed the impact of pending litigations as at 31 March 2024 on its financial position in its standalone financial statements - Refer Note 33(b) to the standalone financial statements.

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

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

d (i) The management has represented that, to the best of its knowledge and belief, as disclosed in the Note 44(v) to the standalone financial statements, 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 f I Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any

( /p manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any

s\£ guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(ii) The management has represented that, to the best of its knowledge and belief, as disclosed in the Note 44(vi) to the standalone financial statements, no funds have been received by the Company from any person(s) orentity(ies), including foreign entities (“Funding Parties’’), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Parties (“Ultimate Beneficiaries’’) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(iii) Based on the audit procedures performed that have been 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) of Rule 11 (e), as provided under (i) and (ii) above, contain any material misstatement.

e. The Company has neither declared nor paid any dividend during the year.

f. Based on our examination which included test checks, except for the instances mentioned below, the Company has used accounting softwares for maintaining its books of account which have a feature of recording audit trail (edit log) facility at the application level, and the same has been operating throughout the year for all relevant transactions recorded in the softwares:

- In the absence of sufficient and appropriate reporting on compliance with audit trail requirements in the independent auditor’s report of a service organization for the accounting software used for maintaining the books of account relating to general ledger, which are operated by a third party software service provider, we are unable to comment whether the audit trail feature was enabled and operated for all relevant transactions recorded in this software.

- In the absence of sufficient and appropriate reporting on compliance with audit trail requirements in the independent auditor’s report of a service organization for the accounting software used for maintaining the books of account relating to payroll records, which are operated by a third party software service provider, we are unable to comment whether the feature of audit trail (edit log) facility was enabled and operated at the database level to log any direct data changes.

- The feature of audit trail (edit log) facility was not enabled at the database level to log any direct data changes for the accounting software used for maintaining the books of account relating to

/] Revenue and delivery cost process.

I ! Further, where audit trail (edit log) facility was enabled and operated for the respective accounting Y I softwares, we did not come across any instance of the audit trail feature being tampered with.

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 Company is not a public company. Accordingly, the provisions of Section 197 of the Act are not applicable to the Company. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the Act which are required to be commented upon by us.

For B S R & Co. LLP

Chartered Accountants Firm’s Registration No.:101248W/W-100022

Sampad Guha Thakurta

Partner

Place: Bengaluru Membership No.: 060573

Date: 05 July 2024 ICAI UDIN:24060573BKFGPA9743