with reference to the above subject, please note the board of directors in their meeting held today

12.00 p.m 15.20 p.m K.S. RAO& Co IND IA CHARTERED ACCOUNTANTS Independent Auditors' Report on Annual Financial Results of Panyam Cements & Mineral Industries Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 To the Board of Directors of Panyam Cements & Mineral Industries Limited Opinion We have audited the financial results for the quarter and year ended 31 March 2026, in the accompanying “Statement of Financial Results for the quarter and Year ended March 31, 2026" ("the Statement") of Panyam Cements & Mineral Industries Limited ("the Company") being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'). Ino ur opinion and to the best of our information and according to the explanations given to us, the financial results for the quarter and year ended March 31,2026: i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended; and ii) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generaly accepted in India, of the Loss and other comprehensive income and other financial information for the quarter and year ended 31 March 2026. Basis of Opinion We conducted our audit in accordance with the Standards on Auditing ("SAs")s pecified under section 143(10) of theC ompanies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor 's Responsibilities for the Audit of the Annual 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 ethical requirements that are relevant to our audit of the 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 audit opinion. Emphasis of Matter We draw the attention to the Note No 9 of the Statement wherein it is explained the reasons for preparing the accounts on going concern basis despite negative networth, excess of current liabilities over current assets and incurring cash losses. Our opinion is not modified in this regard. Management's Responsibilities for the Statements This Statement of annual financial results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Financial Results for the quarter and year ended March 31, 2026 have been compiled from the related audited financial statements. This responsibility includes the preparation and presentation of the financial results for the quarter and wear ended March 31, 2026 that give a true and fair view of the loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepedr India and in compliance with Regulation 33 of the Listing Regulations. This responsibii als includes maintenance of adequate accounting records in accordance with the provisions dG for safeguarding of the assets of the Company and for preventing and detecting frauds ath RABA Flat No. 601A, Golden Green Apartments, Irrum Manzil Colony, Hyderabad - 500 082. Phone : (040) 2337 3399, Email: ksraoandcompany@gmail.com / hydksrao@ksrao.in Locations: Hyderabad |V ijayawada | Chennai | Bengaluru I New Delhi irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, rclevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the financial results, the 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. The Board of Directors are alsO responsible for overseeing the Company's financial reporting process. Auditor's Responsibilities Audit of the Financial Results for the quarter and year ended March 31, 2026 Qur obijectives are to obtain reasonable assurance about whether the financial results for the quarter and year ended March 31, 2026 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 financial results. 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 Annual Financial Results, 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 am aterial 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, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Board of Directors. Evaluate the appropriateness and reasonableness of disclosures made by' the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations. Conclude on the appropriateness of the Board of Directors' 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 Statement 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 Annual financial results, including the disclosures, and whether the Annual Finapcah agults represent the underlying transactions and events in a manner that achieves fair prsenta. Chartered Accountants Page 2 of 3 Perform procedures in acco [Showing first 8,000 characters — download PDF for full document]