We have audited the accompanying financial staiemvms of *LA KAIZEN AGROINFRABUJLD LIMITED which eOrrwrt£*s
the Balance Sheet as at March it. zm, the Statement of frofft and Lo» iintludlng Other GomprehenslVi income/
The Statement of Ganges in Equity and Cash Flow* for the year ended, and mt« to the financial statement*,
deluding a summary of significant accounting poUcies and otter explanatory information (hereinafter referred to
as the 'financial statements'}.

In wjr opinion and to the bat of our information _and according ro the wepianatfons jivtn to m the aforesaid
nnaivta! stateresrflS give the interna Lion required by the Aci tn the manner so required anil give a true and fair
View in conformity with the accounting principles generally accoeted in India, of the state of affairs of the Company
a* at Match 31, 1025. and Profit, total comprehensive Income, changes In equity end Its cash flows fw the year
weed an that date. ’

Basis for up info n

We conducted our audit in Accordance with the Standards on Auditing (SAs) specified older team 143*10* of the
uumpaniei Act, 1CU. Our responsibilities under those Standards are further uescrited In the Auditor's
Responsibilities for the Audit of the Financial Statement* section of our report. We are independent of rh* tympany
n iCH^jrdauee with the Code of Ethics Issued by the Institute of Chartered Accountant* of India together with the
ethical requirements that are relevant to cur audft of the financial "tatemsnts under the orwlsiont of the Co mantes
ia. JOiS jnd the Rules there mder, and wo have fulfilled our other ethical responsibilities in accordant with
thea* requirements and the C*Je of Ethics. We believe that the smart evident* w* have obtained is jmflrivnt and
appropriate to Dttvicfc* a oasis for our npilfgn on the financial statements

Information Other than the Financial Stiiwwnt* end Auditor's Report TJwtwi

Tte Company’s Board Of Directors Is responsible njr the preparation of the other Information The ether information
oomprt5f?i the InfomiEition indud&d In the Board’s Report including Annexure to Board's Report, hi a dws not include
the financial staufftients and our Auditor’s report thereon

Aur opinion on the financial statementj does not cower Lhe other information and m do ool wnress am form at
assurance conclusion thereon.

In connection with our audit of the financial itatements, our responsibility la tb read the other Information aoo In
dfllrg at, consider whether the other Information ij materially inconsistent with the financial starpments or our
knowledge obtained during the course of cur auditor otherwise appears to be materially misstated.

If, based on tte wurh we have performed, we conclude that there is a material misstatement or thi*. oth-r
informadon; we are required to report that fact. We have nothing lo report in this regard,

tojponsihlfltie* of Marwgenwit aiv) These Clwrgwf with Governance for the Financial Statements

The Company's board of Directors are reipOrijible for the matters stated In section U4f5l of the Companies Act
2013 i the Act") with respect to the preparation or these financial Statements that give a tiue and fall vi-w of the
financial position, financial performance of the Company In accordance with tHe accounting principles generally
sorted 1q India, Including the accounting Sundirtb specified under section fS3 of the Act. This reipensIMlIty also
ind .tfes maintenance of Adequate accounting records fn accordance with the provision* of the Act for safeguarding
of the assets of the Company ohd for preventing ana detecting frauds ana other irregularities; seTeclfon end
application of appropriate ^counting policies; melting judgments and estimates that are reasonable and prudent"
and design implementation and rteirtenirtce of Equate Internal financial controls, that were Operating
effectiveiv for ensuring th,? accuracy ind complerenets of the accounting r*corcis, relevant to the preparation and
presentation of the finardal statement that give a tun? and fair view and are tree from material misstatement,
whether bits to fraud 3f error,

ir orepanng trie financial statements, management It reform ble for aiwuing the Company':? ability to continue “
a golds concern, disclosing, at applicable, matters related to going concern and using we going concern basis of
accounting unless management either Intends to liquidate the Company or to c&&se opeiatlors or has no realistic
alternative but to do so.

ihoKi fioard of Directors are also responsible for overseeing trw company's financial reporting pieces;-.

Auditor's itotpofisibllltta tor the Audit of the FWda! Statements

I lur objectives an? to obtain reasonable aisorence about whether the financial statements as a whole aro ire* from
material misstatement, whether due to fraud ar error, end to toe an auditor's report that include* our opfrton
n&awnatle issuranee Is a high level of assurance but Is not a guarantee that an audit conducted in eccoroance
with SAi will always detect a inatetfal misstatement when It exists. Misstatements can arise from fraud or error and
ar? considered material if, individually or In the aggregate, they muld reasonably be expected to influence the
economic decision* of usees token on the basis of these financial statements,

A, As pert of nn audit In accordance with SAi. we wterdse professional judgment and maintain professional
scepticism throughout the audit. We alw:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
orror, design and perform audit procedures resfwnslv* to those risks, and jftaln audit evidence that is
sufficient and appropriate to provide a basts tor our opinion, the HUt ₀f not detects* a material
misstatement resulting from fraud in higher than for on& resulting from error, as fraud may involve tolluiitm
forgery. Intentional omissions,, misrepresentations, or the override of internal control.

- Obtain an understanding of internal cor tool relevant to the audit In order to design audit procedures that
Art appropriate fn the circumstances. Under section HJp)U> of the Companies Act. 30U, we are also
resporfcfhle tor expressing our opinion on whether the company has adequate Infernal financial conirols with
reference to financial statement* in place and the operating effbctlv&neis of such controls,

• Evaluate the appropriate^^ of accounting policies used and the reasonableness ot accounting estimates
and rented disclosures made by management,

Conclude oh the appropriateness of management's u» of the going concern basis of accounting _Bnd, ooseu
on tee audit evidence obfafned, whether a material uncertainty exists related to events or conditions That
may cast significant doubt on the Company¹* ability to continue as a going concern. If we conclude that a
material uncertainty exists, we are required to drew attention in our auditor's report to the related
disclosures In [he financial statement* or, If such disclosures are inadequate, to modify our opinion, pur
conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, fultra
events or conditions may cause the Company to cei&* to continue oi a going concern,

Evaluate the overall presentation, structure and contort: of the financial statements, iiteiurfing the
disclosures, and whetner the financial statements represent the underlying transactions and averts ir a
manner that achieves fair presentation,

“ We communicate with those :barged With governance regarding, among otjier matters, the planned scope
and timing of too audit end significant audit findings, including anv significant deficiencies In internal control
that we Identify during our audit.

c We also provide those charged with governance with a statement [hat v* have compiled with releva nr
elhita! requirements regarding Independence, and to communicate With them all relationships and other
matters dial may reasonably w thought to tear on our Independence, and where applicable related
ttfcguands

ft*port on either Legal and Regulatory ttequireroenti

i As required by tnt Compares (Auditor's Rfcpnrrl Oresr. 202(i (“the Order"), issued by tne Central
tfowmmem of India in term* of JUb-aecttan (11) of secltcfi H3 of the Companies Act, 1013, n* order is
Applicable TO the company for the year under audit as given in the“AndeWife- A", a iist-irnent on the molten
specified fn paragraph s and 4 Of the order.

1 Ai required by Section 143(3) of the act, we report that:

i w* have sought and obtained all the iHiarmstfem and explanations which to the best of our knowledge and
beiief were necessary for the purposes ot our audit

*i in our opinion, proper boote of account aj required oy itfv nave been kypt by die Company so far as rt arrears
from our examination of those hooks.

*Ý Balance Shest, the Statement of Profit and Loss and cash flow iwioniem dealt with by this ftepon are
in agreement with the book? of Recount

* in our opinion the aforesaid financial statements comply with the Accounting Standards specified under
Se:tton 135 of the Act, read with Rule? cf the Companies (Accounts) Rules, 1014

l On tlie basis of the written representations received frm the directors as on J 1st WiafCh. 2026 taken on
retwi by the roand of Directors, none of the dirsttorj is disqualified as on 31 it March, noas from being
appointed as a Sector in terms or Section 164 £)<*the ACL

t vvuh respett to the adequacy of the internal financial controls oy-r financial reporting of the tampan v ami
thp operating effectiveness of such centrals, refer to our separate Report Ifi “Annexure b"

p With respect to the other matters to he included in the Auditors import In accordance with the requirement;
of secitori 107(16) of the Act, as amended:

^h With nnpect to the other matters to be included In the Auditor's Report in accordance with Rule 11 _Df the
t-bmpanies (Audit and Auditors; flutes, 2014j in our opinion xnd to the cesi of our information and atoorairni
to the explanations given to us:

w Company does not have any pending litigations which would Impact its financial position.

ii. The Company did ™r haw? any long-term contracts including derivative eentraers for which there w*=re any
material tofes=eabie losses;

|g. There were rib amounts wtolch were required to be transferred to the investor Education and ProtectI6h Fund
by the Company.

* li) MaWffWWt has represent that, to the best of Its knowledge gpd belief, ro funds (which are
material either individually or In the aggregate) nave been advanced or loaned or Implied (either from
borrowed funds dr shore premium or any other sources nr kind of fund*) bv the Company to or ir. any other
person or entity, Including foreign entfty (Intermediaries"), with the understanding, whethsr recorded in
writing or otherwise, that bit intermediary shall, whether, directly or indirectly lend or invest in other
persons entitles Identified in any manner whatever by or oil behalf of the Company (Ultimo tr
Beneficiaries") ₀r provide any guarantee, security or the like on betalf of the Ultimate Beneficiaries;

iMThe Management hut represented, thii, to the test of its knowledge and belief, no funds (which are material
either individually or w the aggregate) have been received by the Company from any person or entity,

including foreign entity (Funding Parties''), with the understanding, whether record^ in writing or otherwise,
^fhat thfc Company shall, whether, directly or indirectly, tend Dr invest In other persons or entities identified
in any tanner whatsoever by or on behalf of the Funding Parly (Ultimate Beneficiaries* j or provide- any
guarantee, security _or the like on bs^itF of the Ultimate Beneficiaries;

^{fia5s(l on} tl« audit procedures that have been considered reasonable and appropriate m tte circumstances,
nothing has come to our notice that has caused iif to believe that the teprwentatiflm under suh-:lause ft i
and (111 of Rule 11(e), as provided under <a) and (b) atwve, contain arty material misstatement.

' The company hat not declared or pgild any dlvlPend during the year As such, provisions of section 123 of the
Companies Act, 2013 are not applicable.

vl. Rased on our maminattan which Included cast checks, the Qbffljftny has used accounting software for
maintaining its books or necounL for the financial year ended March It. 2025 which has a feature af recording
audit trail (edit log) facility *rta the same la under the process of implementation.

For M K aochert ft Associated
Chartered Accountants
Firm Registration No. 3239291.

M K Kothan
Partner

Membership No. 059513
UrJIW: 2WS051 i&MHSISl^

Plica: Kolkata
Onto: 21^th May 2025