Standalone Financial Statements for Half Year Ended 30092026

Shiv & Associates, Chartered Accountants MAPSS & Company, Chartered Accountants 103 & 105, Ajanta Market, Plot No. 1, C-40, 2nd Floor, Vardhaman lndraprastha Plaza, Ten Tower, LP. Extension, Patparganj, Sector 15, Vasundhara, Ghaziabad, Delhi- 110092 Uttar Pradesh- 201012 Independent Auditor's Report on the Audit of Standalone Interim Financial Statements The Members of Indian Renewable Energy Development Agency Limited Opinion We have audited the accompanying Standalone Interim Financial Statements oflndian Renewable Energy Development Agency Limited ("the Company"), which comprise the Standalone Balance Sheet as at 301h September, 2026, the Standalone Statement of Profit and Loss (including Standalone Other Comprehensive income), Standalone Statement of Changes in Equity and Standalone Statement of Cash Flows for the half year then ended, and Notes to the Standalone Interim Financial Statements, including material accounting policies and other explanatory information for the half year then ended (hereinafter referred to as 'Standalone Interim Financial Statements'). In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Interim Financial Statements give a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) prescribed under section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereunder, RBI guidelines and other accounting principles generally accepted in India, of the state affairs of the company as at 30th September, 2026, the profit and the total comprehensive income, changes in equity and its cash flows for the half year ended on that date. Basis for opinion We conducted our audit of Standalone Interim Financial Statements in accordance with the Standards on Auditing (SAs) specified under section 143( 10) of the Companies Act 2013 as amended ("the Act") issued by the Institute of Chartered Accountants of India (ICAI). Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Standalone Interim Financial Statements' section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the ICAI, and we have fulfilled our other ethical responsibilities in accordance with the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the Standalone Interim Financial Statements. Emphasis of Matter We draw attention to the following matters in the Standalone Financial Statements: Note No. 38(2) regarding the constitution of the audit committee and adoption of Standalone Financial Statements. Our opinion on the Standalone Interim Financial Statements is not modified in respect of the above matter. Responsibilities of Board of Directors and Those Charged with Governance for the Standalone Interim Financial Statements The Company's Board of Directors' is responsible for the preparation and presentation of these Standalone Interim Financial Statements that give a true and fair view of the state of affairs (financial position), Standalone Profit or Loss (financial performance including other comprehensive income), Standalone changes in equity and cash flows of the Company in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) specified under section 133 of the Act, read with the relevant rules issued thereunder, circulars guidelines and directions issued by the Reserve Bank of India ( 'RBI') from time to time ( 'RBI Guidelines' ) and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions oft he 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 Standalone Interim Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of the preparation of the Standalone Interim Financial Statements . In preparing the Standalone Interim financial statements, the 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 the Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. The Board of Directors is also responsible for overseeing the company's financial reporting process. Auditor's Responsibilities for the Audit of the Standalone Interim Financial Statements Our objectives are to obtain reasonable assurance about whether the Standalone 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 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 Interim 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 Standalone Interim 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 financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such control. • 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 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 Standalone 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 company to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the standalone interim financial statements, including the disclosures, and whether the Standalone Interim Financial Statements represent the underlying [Showing first 8,000 characters — download PDF for full document]