We have audited the accompanying Standalone Financial Results of Artificial Electronics
Intelligent Material Limited ('the Company'] (Formerly Datasoft Application Software
(India) Limited] which comprise the Balance Sheet as at 31st March 2026, and the
Statement of Profit and Loss (Including Other Comprehensive Income] and Cash Flow
Statement and the statement of Changes in Equity for the period ended, and notes to the
financial statements, for year ended 31st March, 2026 (the statement including a
summary of significant accounting policies and other explanatory information.
(Hereinafter referred to as the “standalone financial statements”].
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 inconformity 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, 2026 the profit and total comprehensive
income, changes in equity and its cash flows for the year ended on that date.
Basis of Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs] specified
under section 143(10] of the companies Act, 2013 (the Act]. Our responsibilities under
those Standards arc further described in the Auditor's responsibilities for the Audit of
the standalone Financial Results 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 ethics requirements that are relevant to our
audit of the financial results under the provisions of the companies Act, 2013 and the
Rules there under, 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 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, we do not provide a separate opinion on these matters.
There are no Key Audit Matters Reportable as per SA 701 issued by ICAI.
Information Other than the Financial Statements and Auditor's Report Thereon
The Company's Board of Directors is responsible for the preparation of the other
information. The other information comprises the information included in the
Management Discussion and Analysis, Board's Report including Annexures to Board's
Report, but does not include the financial statements and our auditor's report thereon.
These reports are expected to be made available to us after the date of our auditor's
report.
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 identified above when it becomes available and, in doing so, consider
whether the other information is materially inconsistent with the financial statements
or our knowledge obtained in the audit, or otherwise appears to be materially
misstated.
When we read the other information included in the above reports, if we conclude that
there is material misstatement therein, we are required to communicate the matter to
those charged with governance and determine the actions under the applicable laws
and regulations.
Management's Responsibilities for the Standalone Financials Results
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,
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.
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 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, 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 for the Audit of the Standalone Financial Results
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 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 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 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.
Materiality is the magnitude of misstatements in the standalone 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.
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 “Annexure A”, a statement on the matter specified in the paragraph 3
and 4 of the Order.
2. As required under provisions of section 143(3) of the Companies Act, 2013, we
report that:
a. We have obtained all the information and explanations which to the best
of our knowledge and belief where 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 appears from our examination of those
books;
c. The Balance Sheet and Statement of Profit and Loss including Other
Comprehensive Income Statement of Cash Flow and Statement of Changes
of Equity dealt with this report are in agreement with the books of
account;
d. In our opinion, the Balance Sheet and Statement of Profit and Loss comply
with the Ind AS specified in section 133 of the Act, read with relevant rule
issued thereunder.
e. On the basis of written representations received from the directors as on
March 31, 2026, taken on record by the Board of Directors, none of the
directors is disqualified as on March 31, 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 over
financial reporting of the company and operating effectiveness of such
controls, referred 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.
h. With respect to other matters to be included in the Auditor's Report in
accordance with Rule 11 of the Companies (Audit and Auditor] Rules,
2014, in our opinion and to the best of our knowledge and belief and
according to the information and explanations given to us:
(a] The Company has no pending litigations as at 31st March 2026 which would
impact its financial position, and no disclosure is required in its standalone
financial statements.
(b) The Company did not have any long-term and derivative contracts as
at March 31, 2026.
(c) There were no amounts which were required to be transferred to the
Investor Education and Protection Fund by the Company during the
year ended March 31, 2026.
(d) The management has;
(i) 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 persons or entities, 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 (“Ultimate
Beneficiaries”) by or on behalf of the Company or
• Provide any guarantee, security or the like to or on behalf of
the Ultimate Beneficiaries.
(ii) represented, that, to the best of its knowledge and belief, no funds
have been received by the Company from any persons or entities,
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 (“Ultimate
Beneficiaries”) by or on behalf of the Funding Party or
• provide any guarantee, security or the like from or on
behalf of the Ultimate Beneficiaries; and
(iii) Based on such audit procedures as considered reasonable and
appropriate in the circumstances, nothing has come to our notice that
has caused us to believe that the representations under subclause (d)
(i) and (d) (ii) contain any material mis-statement.
(e) The company has not neither declared nor paid any dividend during
the year under Section 123 of the Act.
(f) Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for
maintaining books of account using accounting software which has a
feature of recording audit trail (edit log) facility is applicable to the
Company with effect from April 1, 2023. Based on our examination,
which included test checks, and other generally accepted audit
procedures performed by us, we report that the company has used an
accounting software “Tally Prime” for maintaining its books of account
which has a feature of recording audit trail (edit log] facility the same
has operated throughout the year for all relevant transactions recorded
in the software. Further, during the course of our audit, we did not
come across any instance of audit trail feature being tampered with.
FOR D G M S & Co.
(Chartered Accountants)
F. R. No. :0112187W
Date: 29th May 2026
Place: Mumbai
Sd/-HIREN JAYANTILAL MARU
Partner
M. No.: 115279
UDIN: 26115279WYFVMO6716
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