Consolidated Financial Statements for Half Year Ended 30092026

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Extension, Patparganj, Sector 15, Vasundhara, Ghaziabad, Delhi- 110092 Uttar Pradesh-201012 Independent Auditor's Report on the Audit of Consolidated Interim Financial Statements The Members of Indian Renewable Energy Development Agency Limited Opinion We have audited the accompanying Consolidated Interim Financial Statements of Indian Renewable Energy Development Agency Limited (hereinafter referred to as "Holding Company"), which includes its Subsidiary (Holding Company and its subsidiary together referred to as "the Group"), which comprise the Consolidated Balance Sheet as at 301h September, 2026 and the Consolidated Statement of Profit and Loss (including Other Comprehensive Income), the Consolidated Statement of Cash Flow and the Consolidated Statement of Changes in Equity for the half year ended on that date, and notes to the Consolidated Financial Statements, including material accounting policies and other explanatory infonnation (hereinafter referred to as Consolidated .Interim Financial Statements") In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of reports of other auditors on separate Interim Financial Statements and on the other Interim Financial information of the subsidiaries, the aforesaid Consolidated Interim Financial Statements give the information required by the Act in the manner so required and give a true and fair view in confonnity 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 the accounting principles generally accepted in India, of the consolidated state of affairs of the Group as at 30th September, 2026, and their consolidated profit including their consolidated total comprehensive income, their consolidated changes in equity and their consolidated cash flows for the half year ended on that date. Basis for opinion We conducted our audit of the Consolidated Interim Financial Statements in accordance with the Standards on Auditing specified under section 143( 10) of the Act ("SAs"). Our responsibilities under those Standards are further described in the' Auditor's Responsibilities for the Audit of the Consolidated Interim Financial Statements section of our report. We are independent of the Group 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 Consolidated Interim 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 ICAI's Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors of the Subsidiary is sufficient and appropriate to provide a basis for our audit opinion on the Consolidated Interim Financial Statements. Emphasis of Matter We draw attention to the following matters in the Consolidated Financial Statements: 1. Note No. 38(2) to the Consolidated Financial Statements regarding the constitution of the audit committee and adoption of Consolidated Financial Statements. Our opinion is not modified in respect of the above matter. Responsibilities of Management and Those Charged with Governance for the Consolidated Interim Financial Statements The Holding Company's Board of Directors is responsible for the preparation and presentation of these Consolidated Interim Financial Statements that give a true and fair view oft he state of affairs (Financial position), Consolidated Profit or Loss (Financial performance including Consolidated other comprehensive income), Consolidated changes in equity and cash flows of the group in accordance with the accounting principles generally accepted in India, including the Indian accounting Standards specified under section 133 oft he 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 Group 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 Consolidated Interim Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the Consolidated Interim Financial statements, the Board of Directors of the respective Management and Board of Directors of the companies included in the Group is responsible for assessing the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so. The respective Board of Directors of the companies included in Group is responsible for overseeing the Interim Financial reporting process of the Group. Auditor's Responsibilities for the Audit of the Consolidated Interim Financial Statements Our objectives are to obtain reasonable assurance about whether the Consolidated Interim 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 Standard on Auditing 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 Consolidated Interim Financial statements. 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 Financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management of the respective companies of the group. • 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 ability of the company 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 Consolidated Interim 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 Group to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the Consolidated Interim Financial Statements, including the disclosures, and whether the Consolidate [Showing first 8,000 characters — download PDF for full document]