We have audited the accompanying Ind AS Standalone Financial Statements of Empower India Limited ('the Company'),
which comprise the balance sheet as at 31st March 2025, the statement of profit and loss (including other comprehensive
income), the cash flow statement and the statement of changes in equity for the year the period 1st April 2024 to 31st
March 2025 and notes to the standalone financial statements, including a summary of significant accounting policies and
other explanatory information (hereinafter referred to as "Ind AS Standalone Financial Statements").
In our opinion and to the best of our information and according to the explanations given to us, aforesaid Ind AS
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
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 for the period 1st April 2024 to
31st March 2025, the Loss (including other comprehensive income), changes in equity and its cash flows for the year
ended 31st March, 2025.
Basis for Opinion
We conducted our audit of the Ind AS Standalone Financial Statements 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 Ind AS 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 independence requirements that are relevant to our audit of the Ind AS Standalone Financial
Statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Ind AS Standalone 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
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.
Principal Audit Procedures
Our audit consisted testing of the design and operating effectiveness of the internal controls and substantive testing as
follows:
• We evaluated the design of internal controls relating to revenue recognition.
• We selected sample of Sales transactions and tested the operating effectiveness of the internal control relating to
revenue recognition.
• We carried out a combination of procedures involving enquiry and observation, re performance and inspection.
• We have tested sample of Sale transactions to their respective customer contracts, underlying invoices and related
documents.
• We have performed cut-off procedures for sample of revenue transactions at year-end in order to conclude on
whether they were recognized in accordance with Ind-AS 115.
Other Information - Information other than financial statement and Auditor's Report- thereon
The Company's Board of Directors is responsible for the other information. The other information comprises the
information included in the Annual report, but does not include the consolidated financial statements, 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 such other information is materially inconsistent with the 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 communicate the matter to those charged with Governance. We have nothing to report in this regard.
Responsibility of Management for Ind AS Standalone Financial Statements
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 Ind AS 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 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.
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
Ind AS 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 Ind AS 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.
The Board of Directors are responsible for overseeing the Company's financial reporting process.
Auditor's Responsibility 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.
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 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.
• Materiality is the magnitude of misstatements in the standalone financial statements that, individually or in the
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the standalone
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 standalone
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 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 sub-section (11) of section 143 of the Act, we give in the 'Annexure 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 purpose 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;
c. The Balance Sheet, the Statement of Profit and Loss Including other comprehensive income, the Cash Flow
Statement, and the statement of change in equity dealt with by this Report are in agreement with the books of
account;
d. In our opinion, the aforesaid Ind AS Standalone Financial Statements comply with the Indian Accounting
Standards specified under Section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015, as
amended.
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". Our report expresses an
unmodified opinion on the adequacy and operating effectiveness of the Company's internal financial controls
over financial reporting.
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, no remuneration is paid or provided by the company to its directors during the year.
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, in our opinion and to the best of our information and according to
the explanations given to us:
i.
1. The Company has disclosed the impact of pending litigations in its financial position in the Ind AS Standalone
Financial Statements.
2. The Company did not have any long-term contracts including derivatives contracts for which there were any
material foreseeable losses.
3. The company was not required to transfer any amount to Investor Education and Protection Fund during the
financial year.
a) The management has represented that, to the best of its knowledge and belief, no funds (which are
material either individually or in the aggregate) 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 entities, including foreign entities ("Intermediaries"), with the understanding whether
recorded in writing or not that the intermediary shall whether directly or indirectly lend or invest in other
persons or entities identified in any manner by or on behalf of the company (Ultimate Beneficiaries) or
provide any guarantee, security or the like on behalf of ultimate beneficiaries.
b) The management has represented that, to the best of its knowledge and belief, no funds (which are
material either individually or in the aggregate) have been received by the company from any person(s) or
entities including foreign entities ("Funding Parties") with the understanding that such 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 guarantee, security or
the like on behalf of the Ultimate beneficiaries.
c) Based on the audit procedures performed, we report that nothing has come to the notice that has caused
us to believe that the representations given under sub-clause (i) and (ii) by the management contain any
material mis- statement.
d) Based on our examination, which included test checks, the Company has used accounting software for
maintaining its books of account for the financial year ended 31st March, 2025 which has a feature of
recording audit trail (edit log) facility and 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 the audit trail feature being tampered with.
As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1, 2023, reporting
under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per
the statutory requirements for record retention is not applicable for the financial year ended 31st March,
2025.
4. No dividend has been declared or paid by the Company during the year.
For Rishi Sekhri & Associates,
Chartered Accountants
FRN- 128216W
Sd/-
Rishi Sekhri
Proprietor
M. No.126656
UDIN: 25126656BMHUWW3650
Place: Mumbai
Date: 28th May 2025
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