Deloitte
Haskins & Sells LLP

3. We have examined such Restated 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 July 17, 2021 and subsequent
addendum dated September 14, 2021 in connection with the proposed IPO of
equity shares of the Issuer;

b) The Guidance Note also requires that we comply with the ethical requirements of
the Code of Ethics issued by the ICAI;

c) Concepts of test checks and materiality to obtain reasonable assurance based on
verification of evidence supporting the Restated Financial Information; and

d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work
was performed solely to assist you in meeting your responsibilities in relation to
your compliance with the Act, the ICDR Regulations and the Guidance Note in
connection with the IPO.

4. These Restated Financial Information have been compiled by the management from:

a) Audited special purpose interim Ind AS financial statements of the Company as at
and for the three month periods ended June 30, 2021 and 2020 prepared in
accordance with the recognition and measurement principles of Indian Accounting
Standards (Ind AS) 34 “Interim Financial Reporting” issued by Institute of
Chartered Accountants of India and other accounting principles generally accepted
in India (the “Special Purpose Interim Ind AS Financial Statements”), which have
been approved by the Board of Directors at their meeting held on
October 29, 2021.

b) Audited Ind AS financial statements of the Company as at and for the years ended
March 31, 2021, 2020 and 2019 prepared in accordance with the Indian Accounting
Standards (referred to as “Ind AS”) as prescribed under Section 133 of the Act read
with Companies (Indian Accounting Standards) Rules 2015, as amended, and other
accounting principles generally accepted in India, which have been approved by
the Board of Directors at their meeting held on June 17, 2021, September 17, 2020
and August 01, 2019 respectively.

5. For the purpose of our examination, we have relied on the reports issued by us dated
October 29, 2021, June 17, 2021, September 17, 2020 and August 01, 2019 on the
Special Purpose Interim Ind AS Financial Statements of the Company as at and for the
three month periods ended June 30, 2021 and 2020 and Ind AS financial statements
of the Company as at and for the years ended March 31, 2021, 2020 and 2019 as
referred in Paragraph 4 above, which includes the following other matter paragraph
(also refer Note 43, 44 of the Restated Financial Information):

As at and for the three months period ended June 30, 2020 and 30 June 2021:

Other Matter paragraph

The Management maintains its inventory at the various Company owned Exclusive
Brand Outlets and warehouse locations. Due to restrictions imposed during the COVID
19 related lockdowns, the management was unable to conduct the physical inventory

2:

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