PPAP Automotive Limited

Subsidiary Financial Statements

PPAP Technology Limited

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

PPAP Technology Limited

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

PPAP Technology Limited

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

PPAP Technology Limited

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)

PPAP Technology Limited

Elpis Automotives Private Limited

(Formerly Elpis Components Distributors Private Limited)