1. We have audited the accompanying standalone financial
statements of NETTLINX LIMITED (“the Company”), which
comprise the standalone balance sheet as at March 31,
2025, and 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 for the year then ended, and notes to the
standalone financial statements, including a summary of
significant accounting policies 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 prescribed under section 133 oftheAct
read with the Company (Indian Accounting Standards) Rules,
2015 as amended (“Ind AS) and accounting principles
generally accepted in India, of the state of affairs of the
Company as at March 31, 2025, and the profit and total
comprehensive income (comprising of profit and other
comprehensive income), changes in equity and its cash flows
for the year then ended.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on
Auditing (SAs) specified under Section 143(10)oftheAct. 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 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. We have not noticed any findings which are
required to be considered in key audit matters of independent
auditor’s report.

Other Information

5. The Company’s Board of Directors is responsible forthe other
information. The other information comprises the information
included in the annual report, but does not include the
financial statements and our auditor's report thereon.

Our opinion on the standalone 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 standalone financial
statements, our responsibility is to read the other information

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. If, based on the
work we have performed, we conclude that there is a material
misstatement of this other information, we are required to
report that fact.

We have nothing to report in this regard.

Responsibilities of management and those charged with
governance forthe standalone financial statements

6. 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 standalone financial statements that give
a true and fair view of the financial position, financial
performance, changes in equity and cash flows of the
Company in accordance with the IND AS accounting
principles generally accepted in India, including the
Accounting Standards specified under Section 133 oftheAct.
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.

7. In preparing the standalone financial statements,
management is responsible for assessing the Company’s
ability to continue as a going concern, disclosing, as
applicable, matters related to going concern and using the
going concern basis of accounting unless management either
intends to liquidate the Company or to cease operations, or
has no realistic alternative but to do so. Those Board of
Directors are also responsible for overseeing the Company’s
financial reporting process.

Auditor’s responsibilities forthe audit of the standalone
financial statements

8. 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.

9. As part of an audit in accordance with SAs, we exercise
professional judgment and maintain professional scepticism
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,
orthe 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)(lftheAct, we are
also responsible for expressing our opinion on whether the
company has adequate internal financial controls with
reference to standalone financial statements in place and the
operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and
the reasonableness of accounting estimates and related
disclosures made by 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 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

10. As required by the Companies (Auditor's Report) Order, 2020
(“the Order”), issued by the Central Government of India in
terms of sub-section (11) of Section 143 of the Act, we give in
the Annexure B a statement on the matters specified in
paragraphs 3 and 4 of the Order, to the extent applicable.

11. 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
ourexamination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss
(including other comprehensive income), the Statement of
Changes in Equity and the 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 Accounting Standards specified
under Section 133 of the Act.

(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 financial
controls with reference to standalone financial statements of
the Company and the operating effectiveness of such
controls, refer to our separate Report in “AnnexureA".

(g) 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 has disclosed the impact of pending
litigations on its financial position in its standalone financial
statements - Refer Note 27 to the standalone financial
statements;

ii. The Company 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 during the year.

iv. (a) The management has represented that, to the best
of its 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 30 to the standalone financial
statements);

(b) The management has represented that, to the best of its
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 30 to the standalone 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 Company has not declared any dividend on equity
share during the year.

vi. The Company is in the process of implementing the Audit
Trail feature as perthe statutory requirements.

12. The Company has paid/ provided for managerial
remuneration in accordance with the requisite approvals
mandated by the provisions of Section 197 read with
Schedule V to the Act.

For Niranjan and Narayan
Chartered Accountants
Firm Registration Number:005899S

Sd/-

P. Venumadhava Rao
Partner

Place: Hyderabad Membership Number: 202785

Date: 27^th May, 2025 UDIN:25202785BMIUWE4645