5236102026-01-012026-03-315236102026-03-315236102025-03-315236102025-04-012026-03-315236102026-01-012026-03-31in-capmkt:OtherExpenses1Member5236102025-04-012026-03-31in-capmkt:OtherExpenses1Member5236102026-03-31OtherNoncurrentFinancialAssetsDomain15236102026-03-31OtherNoncurrentAssetsDomain15236102026-03-31OtherCurrentFinancialAssetsDomain15236102026-03-31OtherCurrentAssetsDomain15236102026-03-31OtherNoncurrentFinancialLiabilitiesDomain15236102026-03-31OtherCurrentFinancialLiabilitiesDomain15236102026-03-31OtherCurrentLiabilitiesDomain15236102026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15236102025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15236102026-01-012026-03-31AuditorDomain15236102026-01-012026-03-31in-capmkt:AuditedMember5236102026-03-31in-capmkt:AuditedMember5236102026-01-012026-03-31in-capmkt:AdjustedMember5236102026-03-31in-capmkt:AdjustedMember5236102026-01-012026-03-31AuditQualification15236102026-01-012026-03-31AuditQualification25236102026-01-012026-03-31AuditQualification35236102026-01-012026-03-31AuditQualification45236102026-01-012026-03-31AuditQualification55236102026-01-012026-03-31AuditQualification65236102026-01-012026-03-31AuditQualification75236102026-01-012026-03-31AuditQualification85236102026-01-012026-03-31AuditQualification95236102026-01-012026-03-31AuditQualification105236102026-01-012026-03-31AuditQualification115236102026-01-012026-03-31AuditQualification125236102026-01-012026-03-31AuditQualification135236102026-01-012026-03-31AuditQualification145236102026-01-012026-03-31AuditQualification155236102026-01-012026-03-31AuditQualification165236102026-01-012026-03-31AuditQualification175236102026-01-012026-03-31AuditQualification185236102026-01-012026-03-31AuditQualification195236102026-01-012026-03-31AuditQualification205236102026-01-012026-03-31AuditQualification215236102026-01-012026-03-31AuditQualification225236102026-01-012026-03-31AuditQualification235236102026-01-012026-03-31AuditQualification245236102026-01-012026-03-31AuditQualification255236102026-01-012026-03-31AuditQualification265236102026-01-012026-03-31AuditQualification275236102026-01-012026-03-31AuditQualification285236102026-01-012026-03-31AuditQualification295236102026-01-012026-03-31AuditQualification305236102026-01-012026-03-31AuditQualification31iso4217:INRiso4217:INRxbrli:shares523610ITINOTLISTEDINE248A01017ITI LIMITEDMain BoardEquity2025-04-012026-03-312026-05-282026-05-19INRLakhsQuarterlyFourth quarterSingle segmentna2026-05-2813:54:002026-05-2907:45:00trueCash Flow IndirectStatement on impact of audit qualification2026-01-012026-03-31AuditedConsolidated627650000013240000064089000005143000004331800000-817000002991000004543000001775000009449000006640200000-231300000459040000043591000000000435910000000019000004361000000-849000004276100000009628500000104.534.53004.534.532025-04-012026-03-31AuditedConsolidated21837200000534000000223712000001085500000172878000001720000014601000001969300000564500000155040000023934800000-156360000044915000002927900000000029279000000004000002928300000-8490000028434000000096285000001094278000003.043.04003.043.04Other Expenses944900000Other Expenses15504000002118890000015610000025104000000000053590000084860000003185000001703000000304100000258625000002057100000029056800000244000000326360000041997000002306800000059832100000928000000270070000065517900000208490000093465300000962850000094278000001905630000019056300000500000059590000059590000045590000010523000002918000004496000001793700000764940000034720000028560200000289074000001342220000049979000000214648000001171500000726153000007440900000093465300000Others318500000Other non-current assets304100000Others23068000000Other current assets2700700000Others455900000Others13422200000Other current liabilities21464800000Not Applicable196930000025270000072448000000-16348000000000-55732000000-361600000000000000137200000000-8321900000038788000000-26831000002448000000007801000000-535300000000000000428000008842000000000000000000000001372000000-5176000008418800000000000000715790000000196930000000-9127200000-12437000000-12437000001487700000244000000Items not to be reclassified to Profit or Loss in subsequent period-84900000-84900000Items not to be reclassified to Profit or Loss in subsequent period-84900000-849000000000-84900000-84900000AuditedDisclaimer of opinionBK Ramadhyani Co LLPtrue2027-02-28223712190000239348120000292830000003.04019201838100001729662060000185203660000The Consolidated Financial Statements of the Company for the year ended March 31, 2026, <br></br> as approved by the Board of Directors on May 28, 2026, was reported upon by us vide our <br></br> audit report issued on May 28, 2026. Vide this report, we had issued a Disclaimer of <br></br> Opinion on the said Financial Statements due to the significance of the matters described <br></br> in the Basis for disclaimer of opinion section of the said report and our inability to <br></br> quantify/ascertain the impact of matters covered therein on the Financial Statements for <br></br> the said financial year. Those comments and observations may continue to impact on the <br></br> Standalone Financial Results and Financial statements for the current year.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is <br></br> not ascertainableImpact not ascertainableThe Company did not have adequate internal financial controls with reference to its <br></br> financial statements as required by section 134 of the Companies Act, 2013, which may in <br></br> turn result in errors and misstatements therein which may remain undetected and have a <br></br> material impact thereof. This includes non-establishment of a sound information systems <br></br> security policy and general controls interalia with adequate controls, safeguards and <br></br> oversight over access, use of passwords, change management, modifications/edits made <br></br> to data through the application or to the database/backend changes, with adequate audit <br></br> trails and periodical reviews of the same.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is <br></br> not ascertainableImpact not ascertainableThe Company has recognized the sale of a portion of its land and its old buildings at <br></br> Krishnaraja Puram Bangalore to Central Taxes, department (GST), Government of India <br></br> (GoI) at an agreed consideration of Rs. 91,431 lakhs and the consequent profit on sale <br></br> thereof amounting to Rs. 83,219.21 lakhs, pursuant to an agreement to sell dated March <br></br> 26, 2026, and approvals from Department of Telecommunications, Government of India <br></br> for the sale. Pending receipt of balance consideration of Rs. 3,014 lakhs, pending execution <br></br> of sale deed in favor of the buyer, pending (possession from the Central Tax department <br></br> pending as at March 31, 2026) and bank release mortgage deed not received by the <br></br> Company as at the year end, consequent transfer of control over the said property to the <br></br> latter was not satisfied and accordingly the derecognition criteria laid down in IndAS-16 <br></br> Property, Plant and Equipment (PPE) was not satisfied. Had the Company not recognized <br></br> the said sale, Non - Current Assets held for sale would have reflected a balance of Rs. <br></br> 8,011.79 lakhs, Other current assets would have been lower Rs. 3,011.02 lakhs, Loss for <br></br> the year and Total comprehensive income (loss) would have been more by Rs. 83219.21 <br></br> lakhs, Current Liabilities would have been more by Rs. 88419.98 lakhs, debit balance in <br></br> Profit and Loss account would have been more by Rs. 88419.98 lakhs, Earnings per share <br></br> would be lower at Rs. (8.65) as against the reported amount of Rs. 3.04.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is <br></br> not ascertainableDo not agree with ManagementWe had in paragraph 4 under the head Basis for Disclaimer of Opinion vide our <br></br> report dated June 13, 2025, on the standalone financial statements for the <br></br> financial year ended March 31, 2025, reported certain assets though put to use <br></br> in prior years and not capitalized as Property Plant and Equipment <br></br> (PPE)/Investment Property(IP). <br></br> Further Company did not comprehensively identify all adjustments relating to <br></br> prior years/periods during the financial years ended March 31, 2026 and March <br></br> 31, 2025. During the year Company has made certain write off adjustments of <br></br> identified old receivables/inventories amounting to Rs. 44,915.48 lakhs which is <br></br> disclosed as exceptional items in the Statement of Profit and Loss. Consequently <br></br> we are unable to ascertain the impact of all the adjustments to be made in terms <br></br> of Prior period errors within the meaning of Ind AS 8 - Accounting Policies, <br></br> Changes in Accounting estimates and Errors. <br></br> The Company ought to have restated its prior years figures effecting its assets & <br></br> liabilities as at March 31, 2025 and income & expenses for the year ended March <br></br> 31, 2025 and opening balance sheet including equity as at April 1, 2024. Pending <br></br> such comprehensive identification and want of full information, we are unable <br></br> to quantify the impact/consequent disclosures on the above said periods and its <br></br> impact on earnings per share for March 31, 2026 and March 31, 2025.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, <br></br> impact is not ascertainableImpact not ascertainableThe Company is in the process of reconciling the value of land as per the asset register <br></br> with the respective title deeds/ documents across various locations of the Company. <br></br> Company has an independent list of land owned at various locations, wherein the <br></br> respective title deeds are being corelated to the records maintained by civil engineering <br></br> department. We have relied on the documents furnished for verification of title deeds <br></br> and do not express an independent opinion on the same. Further, the auditors of Naini <br></br> and Palakkad units have commented on the limitations in respect of title deeds of the <br></br> units(Vinay Kumar & Co and Balaram & Nandakumar).Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, <br></br> impact is not ascertainableImpact not ascertainableFixed asset records (FAR) maintained in excel sheets have inadequate description and <br></br> location of assets, which in turn may impact the rate of depreciation to be applied and <br></br> the consequent written down value of assets. The FAR is not updated for land held by <br></br> the Company in Bangalore Plant Unit including revaluation amounts. Management has <br></br> not assessed assets which are unserviceable / not in working condition and has not <br></br> recognized any provision for diminution in value with respect to such assets. The <br></br> Company has not made available records in support of physical verification of PPE <br></br> carried. In the absence of such comprehensive data in FAR, documentation in support <br></br> of physical verification carried out and adjustment of discrepancies, if any arising from <br></br> reconciliation of the same with book records and non-identification of assets which are <br></br> unserviceable / not in working condition, we are unable to comment on compliance <br></br> with IndAS-16 Property, Plant and Equipment and IndAS 40 - Investment Property.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact <br></br> is not ascertainableImpact not ascertainableRequisite details of certain land and buildings owned by the Company/taken on lease <br></br> (sale/lease deed, location, purpose for which property is put to use, categorization <br></br> between PPE and IP, whether any amortization of the same is required, income derived <br></br> therefrom, etc.) were not furnished to us. The written down value of such assets as at <br></br> March 31, 2026, aggregated to Rs. 18,438.55 lakhs. The Company has recognized <br></br> income during the year and prior years for which either there were no rental <br></br> agreements or agreements had expired pending renewal. The Company has not <br></br> furnished required disclosures as per IndAS 40- Investment Property including the fair <br></br> values (FV) of its IPs, the basis of determining its FV, rental income derived from such <br></br> properties and direct operating expenses (including repairs and maintenance) arising <br></br> from IP that generated rental income during the year etc. In the absence of sufficient <br></br> appropriate audit evidence, we are unable to ascertain impact, if any, on the <br></br> Consolidated Financial Results.Disclaimer of opinionRepetitiveNA <br></br> Impact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableIn terms of the Material Accounting Policies, the Company has not provided any <br></br> documentation in support of the evaluation carried out to test for impairment of assets in <br></br> compliance with IndAS 36 Impairment of Assets. Accordingly, we are unable to satisfy <br></br> ourselves whether any provision for impairment of assets is required to be recognized in <br></br> these Consolidated Financial Results.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableUnrealized gains/losses on laptops produced by the Palakkad unit of the Company and <br></br> transferred to other units for captive use have not been assessed and eliminated. In the <br></br> absence of sufficient appropriate audit evidence, effect on Consolidated Financial Results <br></br> could not be ascertained.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableInternally developed software by a unit of the Company for captive use has not been <br></br> evaluated for recognition in terms of IndAS 38 - Intangible Assets and measured, if <br></br> required. In the absence of sufficient appropriate audit evidence, effect on Consolidated <br></br> Financial Results could not be ascertained.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has not identified lease contracts entered into by it as a lessee/lessor within <br></br> the meaning of IndAS 116 Leases and has consequently not adopted the principles of <br></br> recognition, measurement and disclosure contemplated therein, contrary to accounting <br></br> policy but has expensed off/recognized as income in the Statement of Profit and Loss as <br></br> per contractual terms. Security deposits paid/received thereon have not been recognized <br></br> in the Statement of Profit and Loss in accordance with Ind AS 109 Financial Instruments. <br></br> In the absence of sufficient and appropriate evidence, we are unable to ascertain impact if <br></br> any on the Consolidated Financial Results.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company did not have a system of appropriating payments received against specific <br></br> bills raised and only maintains a running account of bills raised and payments received. <br></br> Consequently, the Company has furnished, based on excel workings, age-wise data in <br></br> respect of trade receivables as mandated by schedule III, part II to the Companies Act, 2013. <br></br> We could not independently validate the ageing data so furnished with the books of <br></br> account. The Company did not furnish bill-wise breakup for certain trade receivables. <br></br> Further, the Company did not obtain confirmation of balances / statements of account for <br></br> its trade receivables. The Company has not assessed and recognized the quantum of <br></br> expected credit loss in terms of IndAS 109 Financial Instruments and has not furnished <br></br> the requisite disclosures required in respect thereof. The Company did not furnish us <br></br> requisite analysis/breakup of unbilled revenue of Rs. 2,24,111.29 lakhs identifying the <br></br> milestones to be achieved before the same can be billed, the further costs yet to be <br></br> incurred to achieve such milestones and the estimate of likely costs of <br></br> rework/modifications that is to be incurred in the process of achieving certification from its <br></br> customers. In the absence of sufficient and appropriate evidence, we are unable to <br></br> ascertain impact if any on the Consolidated Financial Results.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has several old balances in various receivable accounts in the nature of <br></br> deposits, claims recoverable and other receivables (both current/non current) including <br></br> certain receivables which are disputed amounting to Rs. 3589.05 lakhs (after write off Rs. <br></br> 3426.06 lakhs during the year), which are long outstanding and with no adequate <br></br> supporting. The Company has also not obtained confirmation of balances/ statements of <br></br> account / reconciliation with books of accounts/ not assessed and recognized the quantum <br></br> of expected credit loss in terms of IndAS 109 - Financial Instruments. In the absence of <br></br> sufficient and appropriate evidence, we are unable to ascertain impact if any on the <br></br> Consolidated Financial Results.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company had received soft loan from the Government of India in the financial year <br></br> 2014-15 of Rs. 30,000 lakhs carrying interest at the rate of 1%. This loan was not recognized <br></br> at fair value after considering the market borrowing rate. The Company has not identified <br></br> financial assets and financial liabilities within the meaning of IndAS 109 and has <br></br> consequently not adopted the principles of recognition, measurement and disclosure <br></br> contemplated therein. In the absence of sufficient and appropriate evidence, we are unable <br></br> to ascertain impact if any on the Consolidated Financial Results.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company did not carry out physical verification of inventory at all locations, in the <br></br> absence of which excess/shortages as compared to book records were not assessed. <br></br> Inventories with book value of Rs. 20,570.75 lakhs (after certain adjustments-write down <br></br> of inventories amounting to Rs. 2,656.59 lakhs during the current year), lying in the <br></br> various sites/outside locations/stores for which assessment of net realizable value as at <br></br> March 31, 2026, was not made available. The Companys inventories include old and nonmoving <br></br> items and has not carried out any ageing, usefulness and serviceability <br></br> assessment to ascertain obsolete inventories, if any. List of inventories was not furnished <br></br> to confirm its bifurcation into raw materials, components, stores, work in process, <br></br> manufactured components, finished goods, material in transit and goods pending <br></br> inspection along with requisite quantitative stock reconciliation statements. We could not <br></br> independently validate the stock records with valuation made by the Company with <br></br> supporting documents. We have not been able to independently verify and ensure <br></br> compliance with IndAS 2- Inventories.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableIn the absence of complete details/nature and ageing of each amounts payable, reasons <br></br> for their pendency, reasons for non-claim by parties where applicable, <br></br> confirmations/statements of account/reconciliations prepared of certain liabilities (both <br></br> current/non-current) and advances received from customers of Rs. 1,71,366.66 lakhs, we <br></br> have not obtained sufficient appropriate audit evidence and are unable to comment on its <br></br> completeness/ accuracy. The data regarding ageing of trade payables and other liabilities <br></br> is as furnished by the management and in absence of bill-wise breakup, we are unable to <br></br> independently validate the same.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableDisclosure of information pertaining to dues to micro and small enterprises in terms of the <br></br> Micro, Small and Medium Enterprises Development Act, 2006 and pending identification of <br></br> such vendors and its account balances, seeking confirmation of balances/reconciliation of <br></br> transactions entered along with and consequential non-provision for interest, if any, in <br></br> terms of section 23 of the said act, we have not obtained sufficient appropriate audit <br></br> evidence and are unable to comment on its completeness/ accuracy.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has not carried-out any fair valuation assessment in terms of the IndAS 109 <br></br> Financial Instruments in respect of its financial assets and liabilities which are <br></br> receivable/payable beyond a period of 12 months from the date of initial recognition <br></br> (examples: certain employee receivables, retention money payable, security deposits <br></br> accepted/paid, etc.) for the purposes of determination of amortized costs and <br></br> amortization/recognition of expenses/income of the differential between amortized cost <br></br> and contractual amounts payable/receivable.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Companys contribution to ITI Employees Provident Fund Trust (PF Trust) as detailed <br></br> in its Material Accounting Policies has been considered as a defined contribution plan and <br></br> not as a defined benefit plan, both for the current and prior years. Accordingly, the liability <br></br> to the trust ought to have been evaluated actuarily and recognized rather than at 12% of <br></br> the eligible salaries to be made over during the year. Consequent disclosures required in <br></br> terms of IndAS 19 Employee Benefits have not been furnished.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has not reconciled its books of accounts with its GST returns (GSTR- <br></br> 1/3B/2A/2B/6/7/7A/9&9C) and various forms as applicable filed/to be filed across all its <br></br> registrations (includes turnover, exempt turnover, taxes payable, input tax credit <br></br> available/availed and tax deducted at source). Several cross charges between the units of <br></br> the Company with different registrations taken by the Company also could not be validated <br></br> in terms of the GST law. The Company has not segregated the goods and service portions <br></br> of the advances received based on respective contracts and remitted GST liability on the <br></br> service portion of the same. Pending such bifurcation, we are unable to ascertain the <br></br> quantum of GST liability on advances payable and required provision along for interest <br></br> payable. The company has not ascertained comprehensively the reversal of GST input and <br></br> interest thereon on account of non-payment of vendors before 180 days and on <br></br> adjustments made for obsolescence of inventories. Reconciliation for the current year <br></br> between its books of account and returns for each registration has also not been furnished <br></br> to us. Company has also not assessed any interest / penalty payable, if any, for all the noncompliances <br></br> identified by it or by the GST authorities during the year as well as prior years.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has not reconciled the entries in forms 26AS, TIS and AIS in the Income Tax <br></br> portal website with its books of account for the current and prior years. The company has <br></br> not disclosed the TDS/TCS receivables appropriately in terms of Schedule III of the Act.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has reported to the extent ascertained of its contingent liabilities/ legal/ <br></br> arbitration cases and capital commitments as detailed in Consolidated Financial Results. In <br></br> the absence of full and comprehensive list across all divisions/units/ROs/Corporate office <br></br> of the Company with testing of the probability of the liability devolving supported with <br></br> appropriate legal advice wherever required, we are unable to ascertain the <br></br> completeness/accuracy of the values reported in the said note and any provisions that may <br></br> be required to be recognized in this respect.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has not identified warranty obligations as a distinct performance obligation <br></br> within the meaning of IndAS 115 Revenue from contracts with customers but recognizes <br></br> the same as and when obligations arise on the plea that it generally has a back-to-back <br></br> claims against its vendors. The Company has not provided us with the requisite <br></br> documentation indicating such rights in each contract entered into by it.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has reported various bank balances as at the reporting date; however, direct <br></br> balance confirmations from the banks were not received in respect of certain banks. We <br></br> have relied on bank statements and books of accounts furnished to us.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainablea. The Company entered into multiple composite contracts with certain customers for <br></br> planning, engineering, construction, upgradation, supply, installation, commissioning, <br></br> testing and annual maintenance, involving substantial amounts. In these cases, the <br></br> Company has recognized revenue (including unbilled portions) for the supply of <br></br> goods to customers based on dispatches and for services rendered, wherever <br></br> completed by it, as at the year end and unbilled portions of revenue recognised <br></br> based on assessment of work completed and corresponding costs incurred. The <br></br> Company has not furnished us with the requisite documentation substantiating <br></br> compliance with the preconditions for recognizing revenue including unbilled portion <br></br> in terms of Ind AS 115-Revenue from Contracts with Customers and passing of <br></br> controls to the latter over the goods and services. The Company has also not <br></br> assessed probable losses which it might incur on account of cost overruns, liquidated <br></br> damages, warranty expenses and additional cost to be incurred in the completion of <br></br> services, requiring recognition. <br></br> b. The Company is in the process of assessing certain changes in various terms of certain <br></br> select contracts involving procurement of goods and services. Pending such exercise, <br></br> and finalization of the said matters/ entering into revised contracts/ issuing <br></br> amendments of purchase orders, effects on costs, incurred or to be incurred in <br></br> respect of each such contracts/ amendments/ revised purchase orders are not <br></br> assessed at this stage. Further, the Company has not furnished clear details/ <br></br> breakups of unbilled payables recorded in the books of accounts. Due to such <br></br> matters, effect on the statement, if any, could not be ascertained. <br></br> c. Attention is invited to foot note of Note 11 of the Standalone Financial Results where <br></br> in the Company has enumerated the status of a contract with Ministry of Defense, <br></br> Government of India, for supply and establishment of Army Static Switched <br></br> Communication Network (ASCON) at an agreed consideration. In terms of the said <br></br> contract, the Company was to mandatorily demonstrate its complete solution to <br></br> bring out its capabilities vis--vis the requirements of the customer, which would be <br></br> evaluated by the latter and form an essential part of the test bed evaluation process. <br></br> We were informed for the reasons stated in the said note that the test best approval <br></br> was awaited as at March 31, 2026, which is expected upon completion of certain <br></br> activities as detailed therein. The Company has proceeded with part execution of the <br></br> contract pending test bed final approval and in the opinion of the management of the <br></br> Company is not impacting the revenue already recognized up to March 31, 2026, to <br></br> an aggregate extent of Rs. 1,92,094.93 lakhs.Disclaimer of opinionRepetitiveNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company is in the process of updating its books of accounts upto the date of issue of <br></br> this report. Accordingly, we could not perform subsequent events review and relied on <br></br> certain management representations.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company follows the process of recording interunit transactions which are identified <br></br> manually, and we have relied on the entries passed in the books of accounts. There are <br></br> inherent limitations in identifying and tracing such entries in the books of accounts with <br></br> actual transactions happened during the year. Further the Company is also in process of <br></br> reconciling the inter unit transactions pending reconciliation, an amount of Rs. 1,748.64 <br></br> lakhs has been adjusted in Statement of Audited Financial Results under the head Cost of <br></br> material consumed of the Consolidated Financial Results. Accordingly, we are unable to <br></br> independently assess the correctness and completeness of such transactions.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableThe Company has reported certain non-compliances with various provisions of the SEBI <br></br> Listing Regulations/the Act interalia in respect of quorum for board meetings, noncompliance <br></br> with the constitution of audit and risk management committees, specified <br></br> proportion/ number of independent directors. Consequential non compliance of such <br></br> provisions and its effect on Consolidated Financial Results is not known including nonprovision <br></br> for penalty and interest liability there on.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableReference is drawn to observation 29 of our audit report issued on June 13, 2025 in respect <br></br> of Financial Statements as of March 31, 2025, regarding certain old balances carried <br></br> forward in various assets and liabilities, where in management has not furnished us the <br></br> composition of such balances and requisite records in support thereof.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableReference is drawn to note 16 of Standalone Financial results where in the Company has <br></br> classified certain items as Exceptional Items which are not in accordance with the IndAS 1 <br></br> Presentation of Financial Statements. In the absence of adequate information and <br></br> documentation we are unable to comment on the correctness of the amounts reported <br></br> therein.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableCompany has not furnished adequate details/reconciliation regarding the classification of <br></br> current and non current portions of employee benefits which includes gratuity, LTC and <br></br> earned leave liabilities across all units, regional offices and corporate office as per actuary <br></br> and the books of accounts. Accordingly we are unable to comment on the correctness of <br></br> the provisions reported there under including the charge to the Consolidated Results for <br></br> the year ended March 31, 2026 (including those reported under Other Comprehensive <br></br> Income.Disclaimer of opinionWhether appeared first timeNAImpact not ascertainableCompany has initiated action plan for necessary compliance. However, impact is not <br></br> ascertainableImpact not ascertainableRajesh RaiCV RAMANA BABUGOPINATH SAHUVasuki H SBangaloreBangalore2026-05-28