Lactose India Ltd — Results, 30-05-2025: Result

To,

BSE Limited

Phiroze Jeejeebhoy Towers,

Dalal Street,

Mumbai- 400001

Scrip Code: 524202

Subject: Regulation 33 of the Securities and Exchange Board of India (Listing

Obligations and Disclosure Requirements), Regulations 2015 - Audited Financial

Results for the Fourth Quarter and Financial Year ended 31st March, 2025.

Dear Sir,

We are submitting the Audited Financial Results of Lactose (India) Limited for the

Fourth Quarter and Financial Year ended 31st March, 2025. We are also enclosing an

Audit Report for the Fourth Quarter and Financial Year ended 31st March, 2025.

Kindly take the same on records.

FOR LACTOSE (INDIA) LIMITED

(Atul Maheshwari)

Managing Director

DIN: 00255202

Date: 30th May, 2025

Place: Mumbai

Encl: As Above

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Independent Auditor’s Report on annual financial results of the Lactose (India) Limited pursuant to

the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

To

The Board of Directors

Lactose (India) Limited

Opinion

We have audited the accompanying statement of annual financial results of Lactose (India) Limited (the

"Company") for the year ended March 31, 2025 ("Statement"), attached herewith, being submitted by the

Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid

financial results:

(i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this

regard; and

(ii) give a true and fair view in conformity with the recognition and measurement principles laid down in

the applicable Indian Accounting Standards (“Ind AS”) prescribed under Section 133 of the Companies Act,

2013 (“the Act”), as amended, and other accounting principles generally accepted in India, of the net profit

and other comprehensive income and other financial information of the Company for the year ended

March 31, 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10)

of the Companies Act, 2013 (the Act). Our responsibilities under those SAs are further described in the

Auditor’s Responsibilities for the Audit of the 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 ICAI’s Code of Ethics. We believe that the audit evidence

obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management’s Responsibilities for the Financial Results

The Statement have been prepared on the basis of the annual financial statements. The Company’s

Management and Board of Directors are responsible for the preparation of these financial results that give

a true and fair view of the net profit and other financial information in accordance with the recognition and

measurement principles laid down in IND AS prescribed under Section 133 of the Act, as amended issued

thereunder and other accounting principles generally accepted in India and in compliance with Regulation

33 of the Listing Regulations. The Board of Directors of the Company are responsible for maintenance of

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adequate accounting records in accordance with the provisions of the 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 the

design, implementation and maintenance of adequate internal financial controls, that were operating

effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation

and presentation of the Statement 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 preparation of the Statement by the

Directors of the Company, as aforesaid.

In preparing the Statement, the Board of Directors of the Company are responsible for assessing the ability

of the Company 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 of the Company are responsible for overseeing the financial reporting process of

the Company.

Auditor’s Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement 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 Statement.

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 Statement, 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 Act, we are also

responsible for expressing our opinion on whether the company has adequate internal financial

controls with reference to standalone financial statements 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 the Board of Directors.

• 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 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 Statement or, if such disclosures are

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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 Statement, including the disclosures,

and whether the Statement represent the underlying transactions and events in a manner that

achieves fair presentation.

We communicate with those charged with governance of the Company of which we are the independent

auditors 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.

Other Matters

• The Statement of the Company for the quarter and year ended March 31, 2024, was audited by the

predecessor auditor C A S & Co who had expressed an unmodified opinion on those financial results

vide their audit report dated May 30, 2024, in terms of Regulation 33 of the SEBI (Listing Obligations

and Disclosure Requirements) Regulation, 2015. The figures for the quarter and year ended March 31,

2024, are based on those financial results.

• The Statement include the results for the quarter and year ended March 31,2025 being the balancing

figure between the audited figures in respect of the full financial year and the published unaudited year

to date figures upto the third quarter of the current financial year which were subject to limited review

by us.

For DMKH & Co.

Chartered Accountants

Firm’s Registration No: 116886W

CA Shikha Kabra

Partner

Mem. No. 179437

UDIN: 25179437BMSCJL3111

Place: Mumbai

Date: 30th May 2025

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