ಅಡಿಟರ್ಸ್ ರಿಪೋರ್ಟ್Gujarat Kidney and Super Speciality Ltd.

We have audited the accompanying standalone financial statements of Gujarat Kidney and
Superspeciality Limited (“the Company”), which comprise the Balance Sheet as at 31st March
2026, 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 ended 31st
March 2026, and notes to the standalone financial statements, including a summary of
significant 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 (“the Act”) in the manner so required and give a true and fair view in conformity with
the Indian Accounting Standards (Ind AS) prescribed under section 133 of the Act, read with the
Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting
principles generally accepted in India, of the state of affairs of the Company as at 31st March
2026, and its profit/loss including 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 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

Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the standalone financial statements for the financial year ended
March 31, 2026. 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. For each matter below, our description of how our audit
addressed the matter is provided in that context.

We have determined the matters described below to be the key audit matters to be
communicated in our report. We have fulfilled the responsibilities described in the Auditor''s
responsibilities for the audit of the standalone financial statements section of our report,
including in relation to these matters. Accordingly, our audit included the performance of
procedures designed to respond to our assessment of the risks of material misstatement of the
standalone financial statements. The results of our audit procedures, including the procedures
performed to address the matters below, provide the basis for our audit opinion on the
accompanying standalone financial statements.

Emphasis of Matter - Dues to Micro and Small Enterprises

Without qualifying our opinion, we draw attention to the fact that, as explained to us by the
management and based on the information and records made available during the course of
our audit, the Company does not presently maintain a dedicated system to specifically identify
and classify trade payables that may fall within the definition of “micro” or “small” enterprises
under the Micro, Small and Medium Enterprises Development Act, 2006 (“MSMED Act”).

Management has further represented that, considering the Company’s historical payment
practices and review of vendor communications, no supplier has intimated its status as a micro
or small enterprise, and no demand for interest under Section 16 of the MSMED Act has been
received in earlier years or during the current financial year. Consequently, no liability for such
interest has been recognised in the Statement of Profit and Loss.

Based on our audit procedures and the explanations and representations provided by
management, we are of the view that disclosure of this matter has been included in the
financial statements.

Our opinion on the standalone financial statements is not modified in respect of this matter.
Other Information

The Company’s Board of Directors is responsible for the other information. The other
information comprises the information included in the Company’s annual report, but does not
include the standalone 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 during the
course of our audit, or otherwise appears to be materially misstated.

Responsibilities of Management and Those Charged with Governance

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 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 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 statement 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, 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.

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.

Report on Other Legal and Regulatory Requirements

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
“Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the Order.

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 relating to preparation of the
aforesaid standalone financial statements have been kept so far as it appears from our
examination of those books except for the matters stated in the paragraph g(vi) below on
reporting under Rule 11 (g) of the Companies (Audit and Auditors) Rules, 2014.

c. The Balance Sheet, Statement of Profit and Loss including Other Comprehensive Income,
Statement of Changes in Equity, and Statement of Cash Flows 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 written representations received from the directors as on 31st March 2026
and taken on record by the Board of Directors, none of the directors is disqualified as on 31st
March 2026 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 “Annexure B”.

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, in our opinion and according to the
explanations given to us:

i. The Company does not have any pending litigations which would impact its financial position.

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

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

iv. The management has represented that, to the best of its knowledge and belief, no funds have
been advanced or loaned or invested by the Company to or in any other persons or entities with
the understanding that the intermediary shall, directly or indirectly, lend or invest in other
persons or entities identified by or on behalf of the Company, or provide any guarantee, security
or the like on behalf of the ultimate beneficiaries.

v. The management has represented that, to the best of its knowledge and belief, no funds have
been received by the Company from any persons or entities with the understanding that the
Company shall, directly or indirectly, lend or invest in other persons or entities identified by or

on behalf of the funding party, or provide any guarantee, security or the like on behalf of the
ultimate beneficiaries.

vi. Reporting under Rule 11(g) - Maintenance of Books of Account Using Accounting Software
with Audit-Trail Feature

Based on our examination, which included test checks, and except for the instances
mentioned below, the Company has used accounting software for maintaining its books of
account, which has a feature of recording an audit trail (edit log) and the same has operated
throughout the year for all relevant transactions recorded in the respective software:

i. feature of recording audit trail (edit log) facility was not enabled throughout the year
for certain fields at the application layer of the accounting software used for
maintaining general ledgers relating to journal entries, inventory and consumption,
property, plant and equipment and payroll records.

ii. The feature of recording 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 accounts.

Further, for the periods where audit trail (edit log) facility was enabled and operated throughout
the year for the respective accounting software, we did not come across any instance of the
audit trail feature being tampered with and the audit trail has been preserved by the Company
as per the statutory requirements for record retention.

Date: 28-05-2026 FOR Y. M. SHAH & CO.

CHARTERED ACCOUNTANTS

Place: Vadodara Firm Registration No.: 114124W

Yogesh Shah
Partner
M.No. 044305

UDIN: 26044305MJEOTV8969