PPAP Automotive Limited

Subsidiary Financial Statements

Avinya Batteries Limited

(Formerly PPAP Technology Limited)

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

Avinya Batteries Limited

(Formerly PPAP Technology Limited)

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

Avinya Batteries Limited

(Formerly PPAP Technology Limited)

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

Avinya Batteries Limited

(Formerly PPAP Technology Limited)

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

Avinya Batteries Limited

(Formerly PPAP Technology Limited)

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

Avinya Batteries Limited

(Formerly PPAP Technology Limited)

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)