SECTION V - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

INDEPENDENT AUDITOR’S EXAMINATION REPORT ON _ RESTATED FINANCIAL
INFORMATION

To

The Board of Directors
Craftsman Automation Limited
Senthel Towers, IV floor,
1078, Avinashi road,
Coimbatore — 641 018

Tamil Nadu, India

Dear Sirs / Madam

1.

We have examined the attached Restated Consolidated Financial Information of Craftsman Automation
Limited (the "Company" and its subsidiaries (the Company and its subsidiaries together referred to as the
"Group") and its joint venture, comprising the Restated Consolidated Statement of Assets and Liabilities
as at 31 December 2020, 31 March 2020, 31 March 2019 and 31 March 2018, the Restated Consolidated
Statements of Profit and Loss (including other comprehensive income), the Restated Consolidated
Statement of Changes in Equity, the Restated Consolidated Cash Flow Statement for the nine months period
ended 31 December 2020 and for the years ended 31 March 2020, 31 March 2019 and 31 March 2018, the
Summary Statement of Significant Accounting Policies and other explanatory information (collectively,
the "Restated Consolidated Financial Information"), as approved by the Board of Directors of the Company
at their meeting held on 25 January 2021 for the purpose of inclusion in the Red Herring Prospectus
(“RHP”) and the Prospectus prepared by the management of Company (“the Management”) in connection
with its proposed Initial Public Offer of equity shares ("IPO") prepared in terms of the requirements of:

a. Section 26 of Part I of Chapter III of the Companies Act, 2013 (the "Act");

b. the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)
Regulations, 2018, as amended ("ICDR Regulations"); and

@ the Guidance Note on Reports in Company Prospectuses (Revised 2019) issued by the Institute of
Chartered Accountants of India ("ICAI"), as amended from time to time (the "Guidance Note").

The Company's Board of Directors is responsible for the preparation of the Restated Consolidated Financial
Information for the purpose of inclusion in the RHP and the Prospectus, to be filed with SEBI, the National
Stock Exchange of India Limited, BSE Limited and Registrar of Companies, Tamil Nadu, in connection
with the proposed IPO. The Restated Consolidated Financial Information have been prepared by the
Management on the basis of preparation stated in notes B1 and B2 to the Restated Consolidated Financial
Information. The responsibility of the respective Board of Directors of the companies included in the Group
and its joint venture includes designing, implementing and maintaining adequate internal control relevant
to the preparation and presentation of the Restated Consolidated Financial Information. The respective
Board of Directors are also responsible for identifying and ensuring that the Group and its joint venture
complies with the Act, ICDR Regulations and the Guidance Note.

We have examined such Restated Consolidated Financial Information taking into consideration:

a. the terms of reference and terms of our engagement agreed upon with you in accordance with our
engagement letter dated 25 January 2021 in connection with the proposed IPO of equity shares of
the Company;

b. the Guidance Note. The Guidance Note also requires that we comply with the ethical requirements

of the Code of Ethics issued by the ICAI;

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