We have audited the accompanying Financial Statements
of APRAMEYA ENGINEERING LIMITED ("the Company")
which comprise the Balance Sheet as at 31st March, 2025, the
Statement of Profit and Loss (including Other Comprehensive
Income), the Statement of Changes in Equity and the
Statement of Cash Flows for the year then ended and notes
to the Financial Statements, including a summary of 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
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 of the
Act read with the Companies (Indian Accounting Standards)
Rules, 2015, as amended, ("Ind AS") and other accounting
principles generally accepted in India, of the state of affairs
of the Company as at 31st March, 2025, its profit and total
comprehensive income, changes in equity and its cash flows
for the year ended on that date.
Basis for Opinion
We conducted our audit of the Financial Statements in
accordance with the Standards on Auditing (SAs) specified
under section 143(10) of the Companies Act, 2013. Oui
responsibilities under those Standards are further described
in the Auditor's responsibilities for the Audit of the Financial
Statements section of our report. We are independent ol
the Company in accordance with the Code of Ethics issued
by the Institute of Chartered Accountants of India together
with the independence requirements that are relevant tc
our audit of the Financial Statements under the provisions of
the Companies Act, 2013 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
Financial Statements.
Key Audit Matters
Key audit matters are those matters that, in our professional
judgment, were of most significance in our audit of the
Financial Statements of the current period. These matters
were addressed in the context of our audit of the Financial
Statements as a whole, and in forming our opinion thereon,
and we do not provide a separate opinion on these matters.
We have determined that there are no key audit matters to
communicate in our report.
Information other than the Financial Statement and
Auditor's Report thereon
The Company's management and Board of Directors is
responsible for the preparation of the other information. The
other information comprises the information included in
Board's Report including Annexures to that Board's Report,
but does not include the Financial Statements and our
auditor's report thereon.
Our opinion on the Financial Statements does not cover
the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the Financial Statements,
our responsibility is to read the other information and,
in doing so, consider whether the other information is
materially inconsistent with the Financial Statements or our
knowledge obtained in 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 for the Financial Statements
The Company's management and Board of Directors is
responsible for the matters stated in Section 134(5) of
the Companies Act, 2013 ("the Act") with respect to the
preparation of these Financial Statements that give a true
and fair view of the financial position, financial performance,
total comprehensive income, changes in equity and cash
flows of the Company in accordance with the Ind AS and
other accounting principles generally accepted in India,
including the accounting Standards 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 Financial Statements
that give a true and fair view and are free from material
misstatement, whether due to fraud or error;
In preparing the Financial Statements, the Company's
Management and 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
management either intends to liquidate the Company or to
cease operations, or has no realistic alternative but to do so;
The Company's Management and Board of Directors are
also responsible for overseeing the company's financial
reporting process.
Auditor's Responsibilities for the Audit of Financial
Statements
Our objectives are to obtain reasonable assurance about
whether the Financial Statements as a whole are free from
material misstatement, whether due to fraud or error, and to
issue an 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 Financial Statements.
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 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 Companies Act, 2013, we are also responsible
for expressing our opinion on whether the Company
has adequate internal financial controls system 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 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 Financial Statements, including the disclosures,
and whether the Financial Statements represent the
underlying transactions and events in a manner that
achieves fair presentation;
Materiality is the magnitude of misstatements in the
financial statements that, individually or in aggregate, makes
it probable that the economic decisions of a reasonably
knowledgeable user of the financial statements may be
influenced. We consider quantitative materiality and
qualitative factors in (i) planning the scope of our audit
work and in evaluating the results of our work; and (ii) to
evaluate the effect of any identified misstatements in the
financial statements.
We communicate with those charged with governance
regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including
any significant deficiencies in internal control that we
identify during our audit;
We also provide those charged with governance with a
statement that we have complied with relevant ethical
requirements regarding independence, and to communicate
with them all relationships and other matters that may
reasonably be thought to bear on our independence, and
where applicable, related safeguards;
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 sub-section (11) of section 143 of the
Companies Act, 2013, we give in the "Annexure A", a
statement on the matters specified in paragraphs 3 and
4 of the Order, to the extent applicable.
2. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information
and explanations which to the best of our
knowledge and belief were necessary for the
purposes of our audit;
(b) In our opinion, proper books of account as
required by law have been kept by the Company
so far as it appears from our examination of those
books except as mentioned in para 2(h)(vi) below;
(c) The Balance Sheet, the Statement of Profit and
Loss (including other comprehensive income),
the Statement of Changes in Equity and the Cash
Flow Statement dealt with by this Report are in
agreement with the relevant books of account;
(d) In our opinion, the aforesaid 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 31st March, 2025
taken on record by the Board of Directors, none of
the directors is disqualified as on 31st March, 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 over financial reporting of
the Company and the operating effectiveness
of such controls, refer to our separate Report
in "Annexure B";
(g) With respect to the other matters to be included
in the Auditor's Report in accordance with
the requirements of section 197(16) of the
Act, as amended:
In our opinion and to the best of our information
and according to the explanations given to us,
the remuneration paid by the Company to its
directors during the year is in accordance with the
provisions of section 197 of the Act; 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 has disclosed the impact of
pending litigations on its financial position
in its financial statements -Refer Note 34 to
the Financial Statements;
ii. The Company did not have any long¬
term contracts including derivatives
contracts for which there were any material
foreseeable losses;
iii. There have been no such instances
requiring transfer of any amounts to the
Investor Education and Protection Fund
by the Company.
iv. i. The Management has represented
that, to the best of its knowledge and
belief, 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, 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;
ii. The Management has represented,
that, to the best of its knowledge and
belief, 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, 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
iii. Based on such audit procedures that
we have 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) contain any material mis-statement.
v. There is no dividend declared or paid
during the period by the Company.
vi. Based on our examination which
included test checks, the accounting
software used by the company for
maintaining its books of account have
a feature of recording audit trail (edit
log) facility from 23rd May, 2024 and the
same has been operated throughout
the period for all relevant transactions
recorded in the software from 23rd
May, 2024. Further, during the course
of our audit we did not come across
any instance of the audit trail feature
being tampered with. Additionally,
the audit trail has been preserved
by the company as per the statutory
requirements for record retention from
23rd May, 2024.
For CNK & Associates LLP
Chartered Accountants
Firm Registration No. 101961W/W-100036
Pareen Shah
Partner
Membership No. 125011
UDIN: 25125011BMGYOH2125
Place: Ahmedabad
Date: 08th May, 2025
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