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AION-TECH SOLUTIONS LIMITED Interim / Quarterly Report 2019

Nov 12, 2018

62282_rns_2018-11-12_ad0a5510-e5a0-4be5-980a-c1c7dd756be7.pdf

Interim / Quarterly Report

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9-1-83 & 84, Amarchand Sharma Complex, S.D. Road, Secunderabad - 500 003, Telangana, INDIA. Tele : +91-40-40313285/86/87 /88 Fax : +91-40-3912 0023 URL : www.goldstonetech.com CIN: L72200TG1994PLC017211 E-mail Id : [email protected]

12th November. 2018

To,

The BSE Limited The National Stock Exchange of India Ltd.

Goldstone Technologies Ltd
531439
Scrip ID on NSE GOLDTECH
Name of the EntitySc rip Code on BSE Outcome of the Board Meeting

Dear Sir/Madam

Sub: Outcome of Boa rd Meeting:

With reference to the cited subject matter, we would like to inform you that the Board of Directors of the Company at their meeting held on 121" November, 2018, have, inter alia,

    1. Approved the un-audited financial results for the quarter e nded 30111 September, 2018;
    1. Approved the Limited Review Report submitted by the Statutory Auditors;

Please find enclosed a copy of the Un-audited Financial Results for quarter ended 30lh September, 2018 and a copy of the Limited Revi ew Report for the quarter.

Kindly note that Board Meeting: Start Time: 3.00 P.M and End Time: 5.00 P.M

This is for your information and record.

Thanking you,

Yours faithfully,

9-1-83 & 84, Amarchand Sharma Complex, S.D. Road, Secunderabad - 500 003, Telangana, INDIA. Tele : +91-40-40313285/86/87 /88 Fax : +91-40-3912 0023 URL : www.goldstonetech.com CIN : L72200TG1994PLC017211 E-mail Id : [email protected]

GOLDSTONE TECHNOLOGIES LIMITED

CIN : L72200TG1994PLC017211 Email Id: [email protected] 9-1-83 & 84, AC Sharma Complex, SD Road Secunderabad, Ph. No 040 -27807640, Fax +91--040-39120023 UN.t>:UDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH S_EPTEMBER 2018

Particulars Quarterended Quarter ended30.06.2018 Quarter ended30.09.2017 Year to Date30.09.2018 (All Amounts In Indian Rup• Millions)Year to Date30.09.2017 Year ended·31.03.2018
30.09.2018Un·Audited Un.Audited Un·Audited Un-Audited Un·Audited Audited
I. Revenue from operations 74.43 98.09 67.76 172.52 117.38 250.86
II. Other income 0.07 0.02 2.25 0.09 2.27 2.75
Ill. Total revenue (I+ 11) 74.50 98.11 70.01 172.61 119.65 253.61
IV. Expenses:
(a).Cost of software licenses 17.51 35.92 8.10 53.43 17.86 48.02
(b).Employee benefits expenses 39.23 38.32 40.61 77.55 78.69 160.95
{c).Finanoe costs 0.64 0.81 0.72 1.45 1.29 3.16
(d).Depreciation and amortization expenses 0.87 0.93 0.93 1.80 1.86 3.77
(e).Other expenses 7.28 8.66 5.57 15.94 13.33 21 .13
Total expenses 65.53 84.64 55.93 150.17 113.03 237.03
V. Profit before tax (Ill - IV) 8.97 13.47 14.08 22.44 6.62 16.58
VI. Tax expense
(1).Current tax 0.00 1.00 0.00 1.00 0.00 3.67
{2).Deferred tax 0.00 0.00 0.00 0.00 3.21 (11.34)
Total tax expenses 0.00 1.00 0.00 1.00 3.21 (7.67)
VII. Profit I (Lossl after tax (V - VI) 8.97 12.47 14.08 21.44 3.41 24.25
VIII. Other comprehensive income, Net of tax 0.39 0.39 0.33 0.78 0.65 1.56
IX. Total comprehensive income (VII + VIit) 9.36 12.86 14.41 22.22 4.06 25.81
X. Paid·UP equity share caoital 187.82 187.82 187.82 187.82 187.82 187.82
XI. Other Equity 78.74
XII. Earnings per share (EPS) (Face value of Rs10/- each)
a) Basic 0.48 0.66 0.77 1.14 0.22 1.29
(Not annualized (Not annualized) (Not annualized) (Not annualized) (Not annualized) {Annualized)
b) Diluted 0.48 0.66 0.77 1.14 0.22 1.29
(Not annualized (Not annualized) (Not annualized) (Not annualized) (Not annualized) (Annualized)
lseQment wi se Standalone financial results for the ouarter ended 30th September 2018Particulars Quarterended Quarter ended Quarter ended Year to Date Year to Date Year ended
30.09.2018 30.06.2018 30.09.2017 30.09.2018 30.09.2017 31.03.2018
Un·AUdited Un·AUdited Un·Audited Un·Audited Un·Audited Audited
Segment Revenue
a) Information Technology I Software Services 53.38 58.14 57.53 111 .52 95.31 191.93
b) Software License 21.05 39.95 10.23 61.00 22.07 58.93
Net Sales / Income from Operations 74.43 98.09 67.76 172.52 11 7 .38 250.86
2Segment Results
Profit {+)/Loss(-) before tax. Deprn. & Interest from
a) Information Technology I Software Services 9.49 13.82 15.57 23.31 9.55 22.95
b) Software Licenses Resale 0.99 1.39 0.16 2.38 0.22 0.56
Total 10.46 15.21 15.73 25.69 9.77 23.51
Less: Interest (not allocable) 0.64 0.81 0.72 1.45 1.29 3.16
Less: Depreciation (not allocable) 0.87 0.93 0.93 1.80 1.86 3.77
Total ProfiV(Loss) Before Tax 6.97 13.47 14.06 22.44 6.62 16.58

Notes:

1 The financial results o f the Company have been prepared In accordance with the Indian Accounting Standards ("Ind AS") as prescribed under section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standard) Rules, 2015, as amended.

2 These unaudited results were reviewed by the Audit Committee of the Board and approved by the Board of Directors of the Company nt their meeting held on 12th November, 2018.

3 The results for the quarter and six months ended 30th September 2018 presented were subjected to a "Limited review" by the Statutory Auditors of the Company. An unqualified report was issued by them thereon.

9-1-83 & 84, Amarchand Sharma Complex, S.D. Road, Secunderabad - 500 003, Telangana, INDIA. Tele : +91-40-40313285/86/87 /88 Fax: +91-40-3912 0023 URL : www.goldstonetech.com CIN : L72200TG1994PLC017211 E-mail Id : [email protected]

4 Segment Capital Employed: As Assets and Liabilities are often deployed Interchangeably across segments, it Is Impractical to allocate these Assets and Liabilities to each segment. Hence, the details of Segmental Assets, Segmental Liability and Segmental Capital Employed have not been disclosed.

5 Previous period figures have been regrouped/reclassified wherever necessary to confirm with the current periods classification/disclosure.

By order of the Board For GOLDSTONE TECHNOLOGIES LIMITED

Place : Secunderabad Date : 12th Nov 2018

9-1-83 & 84, Amarchand Sharma Complex, S.D. Road, Secunderabad - 500 003, Telangana, INDIA. Tele : +91-40-40353285-88 Fax: +91-40-3912 0023 URL : www.goldstonetech.com CIN : l72200TG1994PLC017211 E-mail Id : [email protected]

GOLDSTONE TECHNOLOGIES LIMITED

STANDALONE STATEMENT OF ASSETS & LIABILITIES AS AT 30TH SEP, 2018

As on 30/09/2018 As on 30/09/2017
Particulars Un-Audited Un-Audited
All Amounts in Indian Rupees Millions
ASSETS
(1) Non-current assets
(a) Property, Plant and Equipment 99.790 101.712
(b) Other Intangible Assets - -
(c) Intangible assets under development - -
(d) Financial Assets
(i) Investments in subsidiaries 92.762 92.762
(ii) Loans - 1.408
(e) Deferred tax assets(net) 25.790 44.564
(f) Other non-current assets 1.220
(2) Current assets
(a) Financial Assets
(i) Trade Receivables 78.132 53.767
(ii) Cash and cash equivalents 7.400 17.133
(iii) Bank balances other than above - 5.195
(iv) Loans 10.485 18.394
(v) Others 2.471 4.936
(b) Current Tax Assets (Net) 74.229 62.365
(c) Other current assets 3.163 6.991
Total Assets 394.222 410.447
EQUITY AND LIABILITIES
(1) Equity
(i) Equity Share capital 187.821 187.821
(ii) Other Equity 100.954 89.044
Liabilities
(1) Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 1.219 1.541
(b) Provisions 15.236 15.870
(c) Other non current Liabilities 0.420 -
(2) Non-current liabilities
(a) Financial Liabilities
(i) Borrovvings 55.832 90.429
(ii) Trade Payables 26.626 16.129
(iii) Others - 0.486
(b) Other current liabilities 6.114 9.127
(c) Provisions - -
Total Equity and Liabilities 394.222 410.447

By order of the Board For GOLDSTONE TECHNOLOGIES LIMITED

9-1-83 & 84, Amarchand Sharma Complex, S.D. Road, Secunderabad - 500 003, Telangana, INDIA. Tele : +91-40-40353285-88 Fax : +91-40-3912 0023 URL : www.goldstonetech.com CIN : l 72200TG1994PLC017211 E-mail Id : [email protected]

GOLDSTONE TECHNOLOGIES LIMITED CIN: L72200TG1994PLC017211 Email Id: [email protected] 9-1-S3 & 84, AC Sharma Complex, SD Road Secunderabad, Ph. No 040 - 27807640, Fax +91-040-39120023 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2018

Particulars Quarterended30.09.2018 Quarter ended30.06.2018 Quarter ended30.09.2017 Year to Date30.09.2018 (All Atn0unts In lndi.an RuPffs, Millions)Year to Date30.09.2017 Year ended31.03.2018
Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
I. Revenue from operations 102.98 107.55 96.16 210.53 177.91 356.14
II. Other income 0.07 0.02 2.25 0.09 2.27 2.75
Ill. Total revenue (I +II) 103.05 107.57 98.41 210.62 180.18 358.89
IV. Expenses:
(a).Cost of software licenses 23.15 35.92 8.10 59.07 17.86 48.02
(b).Employee benefits expenses 63.41 61.82 69.88 125.23 141.20 273.86
(c).Finance cost 0.65 0.83 0.75 1.48 1.32 3.20
(d).Depreciation and amortization expenses 0.87 0.93 0.93 1.80 1.86 3.79
(e).Other expenses 8.71 9.86 7.20 18.57 16.90 28.28
Total expenses 96.79 109.36 86.86 206.15 179.14 357.15
V. Profit before tax (Ill - IV) 6.26 (1.79) 11.55 4.47 1.04 1.74
VI. Tax expense
(1).Current tax 0.00 1.00 (6.00) 1.00 (6.00) (2.13)
(2).Deferred tax 0.00 0.00 0.00 0.00 3.21 (11.34)
Total Tax expenses 0.00 1.00 (6.00) 1.00 (2.79) (13.47)
VII. Profit I (LOSS) after tax (V - VI) 6.26 (2.79 17.55 3.47 3.83 15.21
VIII. Other comprehensive Income, Net of tax 9.48 8.63 2.18 18.1 1 1.91 2.12
IX. Tolal comprehensive income (VII + VIII) 15.74 5.84 19.73 21 .58 5.74 17.33
X. Paid-up equ~y share capital 187.82 187.82 187.82 187.82 187.82 187.82
XI. Other equity 243.77
XII. Earnings per share (EPS) (Face value of Rs10/· each)
a) Basic 0.33 (0.15) 1.05 0.18 0.31 0.81
(Nol annualized) (Not annuar12ed) (Not annualized) (Not annualized) (Not annualized) (Annuarozed)
b) Diluted 0.33 (0.15) 1.05 0.18 0.31 0.81
(Not annualized) (Not annualized) (Not annualized) {Not annualized) (Not annualized) (Annualized)

Segment wise consolidated financial results for the quarter ended 30th September 2018

(All Amounll In Indian Rupeas Millions)Segment wise consolidated financial results for the quarter ended 30th September 2018
Particulars Quarterended30.09.2018 Quarter ended30.06.2018 Quarter ended30.09.2017 Year to Date30.09.2018 Year to Date30.09.2017 Year ended31.03.2018
Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited Audited
1. Segment Revenuea) USA - Information Technology Service I Software Servicesb) India - Information Technology Service I Software Servicesc) Sohware licenses ResaleLess: Inter Company SalesNet Sales/ Income from Operat.ions2. Segment ResultsProfn (+)/Loss(-) before lax. Dcprn. & lnleresl from 58.2726.1321.03(2.45)102.98 49.8831.0142.15(15.49)107.55 41.2143.8811.070.0096.16 108.1557.1463.18(17.94)210.53 84.6070.3823.50(0.57)177.91 155.0614iAO63.72(4.04)356.14
a) USA - Information Technology Service I Sohware Servicesb) India - Information Technology Service I Software Services (3.07) (10.04) (3.74) (13.1 1) (6.78) (14 82)
c) Software Licenses 10.010.84 8.621.39 16.810.16 18.632.23 10.780.22 22.960.59
TotalLess: Interest (no! allocable)Less: Depreciation (no! allocable)Totlll ProfiV(Loss) Before Tax 7.780.650.876.26 (0.03)0.830.93(1.79) 13.230.750.9311 .55 7.751.481.804.47 4.221.321.861.04 8.733.203.791.74

Notes:

1 The financial results or the Company have been prepared In accordance with the Indian Accounting Standards ("Ind AS") as prescribed under section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standard) Rules, 2015, as amer1ded.

2 These unaudited results were reviewed by the Audit Committee of the Board and approved by t he Board of Directors of t he Company al their meeting held on 12th November, 2018.

3

9-1-83 & 84, Amarchand Sharma Complex, S.O. Road, Secunderabad - 500 003, Telangana, INDIA. Tele : +91-40-40353285-88 Fax : +91-40-3912 0023 URL : www.goldstonetech.com CIN : L72200TG1994PLC017211 E-mail Id : [email protected]

4 Segment Capital Employed: As Assets and Liabllitles are often deployed interchangeably across segments, It Is Impractical to allocate these Assets and Llabllitles to each segment. Hence, the details of Segmental Assets, Segmental Liability and Segmental Capital Employed have not been disclosed. 5 Previous period figures have been regrouped/reclassified wherever necessary to confirm with the current periods classification/disclosure.

Place : Secunderabad Date : 12th Nov 2018

9-1-83 & 84, Amarchand Sharma Complex, S.D. Road, Secunderabad - 500 003, Telangana, INDIA. Tele : +91-40-40353285-88 Fax: +91-40-3912 0023 URL : www.goldstonetech.com CIN : L72200TG1994PLC017211 E-mail Id : [email protected]

GOLDSTONE TECHNOLOGIES LIMITED CONSOLIDATED STATEMENT OF ASSETS & LIABILITIES AS AT 30TH SEP, 2018

As on 30/09/2018 As on 30/09/2017
Particulars Un-Audited Un-Audited
All Amounts in Indian Rupees Millions
ASSETS
(1) Non-current assets
(a) Property, Plant and Equipment 99.908 101.844
(b) Other Intangible Assets 92.576 92.585
(c) Intangible assets wider development - -
(d) Financial Assets
(i) Investments in subsidiaries - -
(ii) Loans - 1.408
(e) Deferred tax assets(net) 25.790 44.564
(f) Other non-current assets - 1.286
(2) Current assets
(a) Financial Assets
(i) Trade Receivables 100.490 61.136
(ii) Cash and cash equivalents 35.752 106.975
(iii) Bank balances other than above 0.300 5.495
(iv) Loans 143.775 120.439
(v) Others 2.471 4.936
(b) Cunent Tax Assets (Net) 74.229 62.365
(c) Other cunent assets 3.206 6.991
Total Assets 578.497 610.024
EQUITY AND LIABILITIES
(1) Equity
(i) Equity Share capital 187.821 187.821
(ii} Other Equity 265.344 264.340
(iii) Minority Interest 0.001 0.001
Liabilities
(1) Non-current liabilities
(a) Financial LiabiHties
(i) Borrowings 1.219 1.54'1
(b) Provisions 15.236 15.870
(c) Others non current liabilities 0.420 -
(2) Non-current liabilities
(a) Fi11ancial Liabili ties
(i) Borrowings 55.832 90.429
(ii) Trade Payables 45.901 32.122
(iii) Others 0.445 8.773
(b) Other current liabilities 6.278 9.1 27
(c) Provisions - -
Total Equity nnd Liabilities 578.497 610.024

P C N & ASSOCIATES CHARTERED ,A.CCOUNTANTS Plot No. 12 "N Heights' Ground Floor, Software Layout Unit Cyberabad Hyderabad - 500 081.

LIMITED REVIEW REPORT-STANDALONE FINANCIAL RESULT~

To The Board of Directors Goldstone Technologies Limited Hyderabad

Limited Review Report for the quarter and half year ended 30th September, 2018

  • ·1. We have reviewed the accompanying statement of unaudited Standalone financial results of M/ s. Goldstone Technologies Limited for the quarter ended 30th September, 2018 and year to date from April 1s1 2018 to September 30th 2018 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015.
    1. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors/ committee of Board of Directors in their meeting held on 12111 November, 2018. Our responsibility is to issue a report on these financial statements based on our review.
    1. We conducted OUI review in accordance with the Standard on Review Engagement (SRE) 2410, Review of interim financial infomzntion performerf /Jy the indepe11 de11t auditor of the entihJ issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as lo whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
  • 4 Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited Standalone financial results prepared in accordance with applicable Ind AS and other recognized accounting practices and policies has not disclosed lhe information required to be disclosed in terms of Regulation 33 of the SEBI (Listing obligations and Disclosure requirements) Regulations, 2015 and SEBI circular dated 05th July 2016 including lhe mcuul.er in which it is to be disclosed, or that it contains any material misstatement.

For P C N & Associates., Chartered FRN: 016016 Accou 5 !.'')~~o* nt~ ~ \ \ I "(" -°'\ -<>1 .:;; .Y· I .? , ?. >:-'<'- " ) J- \ c..<>.i-~ ~ 1- Chan Partner <h Babu ~L1 .:.-;_f!v1'Jos<"j;;: M.N o. 227849 ~:.---

Place: Hyderabad Date: 12th Novemb er, 2018

P C N & ASSOCIATES CHARTERED ACCOUNTANTS Plot No. 12. · N Heig lts' Ground Floor. Sor A are Layout Unit Cyberabad Hyderabad - 500 081.

LIMITED REVIHV REPORT-CO 'SOLID A TED FINA TCIAL RESULTS

To The Board of Directors, Mfs. Goldstone Technologies Limited Hyderabad

Limited Review Report for the quarter al\d half year ended 30th September, 2018

    1. We have reviewed the accompanying statement of unaudited Consolidated financial results ("the Statement") of M/s. Goldstone Technologies Limited Group comprising M/ s. Golds lone Technologies limited ("the Company") and its subsidiaries (together referred to as 'the group'), for the quarter ended 30th September, 2018 and year to date from April 1s: 2018 to September 3Qth 2018 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure requirements) Regulabons, 2015, read with SEBI Circular No. Cm/CFD/FAC/62/2016 dated July 5th 2016.
    1. The preparation of the statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim f inandal Reporting (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5th 2016 is the responsibility of the Company's Management and has been approved by the Board of Directors in their meeting held on J2th November 2018. Our responsibility is to issue a report on the statement based on our rev ievl.
    1. We conducted our review in accordance with the Standard on Review Engagement (SRE) 24 LO, Revit!w vf interim financial infonnation performed btJ the indepe11dent auditor of the en ti hJ issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform lhe review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

P C N & ASSOCIATES CHARTERED ACCOUNTANTS Plot No 12 "N Heights" Ground Floor. Software Layout Unit Cyberaoad, Hyderabad - 500 081.

  1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited Consolidated financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the infom1ation required to be disclosed in terms of Regulation 33 of Lhe SEBI ( Li.sting obligations and Disclosure requirements) Regulations, 2015 and SEBI circular dated 051 " July 2016 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For PC ~ & Associates.,

Place: Hyderabad Date: 12th November 2018