AIRAN LIMITED — Interim / Quarterly Report 2022

Aug 14, 2021

Date: August 14, 2021

To, The National Stock Exchange of India Ltd., Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai - 400 051.

Dear Sir / Madam,

Sub : Outcome of the Board Meeting held on today, i.e. on August 14, 2021

Ref : Intimation under Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations").

This has reference to our letter dated August 05, 2021 giving Notice of the Board Meeting to consider and approve the financial results of the Company for the first quarter ended June 30, 2021.

Pursuant to Regulations 30 and 33 of the Listing Regulations, we wish to inform you that the Board of Directors at their Meeting held today has, inter alia, approved the Unaudited Standalone and Consolidated Financial Results of the Company for the first quarter ended June 30, 2021 along with Limited Review Reports issued by Statutory Auditors.

A copy of the said Financial Results together with the Limited Review Reports is enclosed herewith. Further said Financials hese are also being made available on the website of the Company at airanlimited.in

The Meeting of the Board of Directors held today commenced at 3:00 p.m. and concluded at 3:30 p.m.

The said results shall be published in one English and one vernacular newspaper as required.

You are requested to take the same on record.

Yours faithfully,

For and on behalf of AIRAN LIMITED

Stuti Kinariwala Company Secretary and Compliance Officer Membership No : A46213

Encl:- A/a

Limited review report on unaudited quarterly standalone financial results of Airan Limited for the quarter ended on 30-06-2021, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Regulations) Regulations, 2015, as amended

To the Board of Directors of

Airan Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Airan Limited ('the Company') for the quarter ended 30th June 2021 ('the Statement').
• 1. This Statement, which is the responsibility of the Company's management and approved by Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

Place: Ahmedabad Date: 14/08/2021

For Deora Maheshwari Co. Chartered Accountants FRN: 123009W

CA Aditya Deora

Partner Membership no. 160575 UDIN : 21160575AAAADA2349

Standalone UnAudited Statement of Financial Results for the quarter ended on June 30, 2021

		(Rs. In Lakh except per share data)
Particulars		Six Months EndedQuarter EndedYear to Date
		30/06/2021	31/03/2021	30/06/2020	31/03/2021
A	Date of start of reporting period	01/04/2021	01/01/2021	01/04/2020	01/04/2020
B	Date of end of reporting period	30/06/2021	31/03/2021	30/06/2020	31/03/2021
C	Whether results are audited or unaudited	Unaudited	Audited	Unaudited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone
I	Revenue From Operations
	Net sales or Revenue from Operations	1,695.27	1,945.37	1,028.13	6,286.30
II	Other Income	79.63	18.17	42.13	182.08
III	Total Income (l+Il)	1,774.90	1,963.54	1,070.26	6,468.38
IV	Expenses
(a)	Employee benefit expense	895.46	907.07	642.87	3,282.34
(b)	Finance Costs	11.17	14.54	20.04	46.52
(c)	Depreciation and amortisation expense	101.85	119.05	89.34	417.42
(d)	Co-ordinator Expense	279.20	261.55	166.57	904.08
(e)	Data Processing Expense	195.21	206.95	64.64	643.18
(f)	Other Expenses	106.41	135.82	73.94	456.55
	Total expenses (IV)	1,589.30	1,644.98	1,057.40	5,750.09
V	Profit/(loss) before exceptional items and tax (III-IV)	185.60	318.56	12.86	718.29
VI	Profit (loss) after exceptional items and before Tax (V-VI)	185.60	318.56	12.86	718.29
VII	Tax Expense	47.68	69.66	4.20	161.29
(a)	Current Tax	42.20	93.75	12.45	190.00
(b)	Deferred Tax (Income)/Expense	5.48	(24.09)	(8.25)	(28.71)
VIII	Profit (Loss) for the period from continulng operations (VlI-VlII)	137.92	248.90	8.66	557.00
IX	Profit (Loss) for the period (XIII A + XIII B + XIII C)	137.92	248.90	8.66	557.00
X	Other Comprehensive Income
	a.i).Items that will not be reclassifled to profIt or loss
	Remeasurement of Defined Benefit Plan	(2.85)	(11.40)	-	(11.40)
	Income tax relating to measurement of Defined Benefit Plan	0.72	2.87	-	2.87
	b.i).Item that will be reclassifed to profit or loss
	ii). Income tax relating to items that will be reclassifed to profit or loss
	Total Other Comprehensive income	(2.13)	(8.53)	-	(8.53)
XI	Total Comprehensive income [Comprising Profit for the Periodand Other comprehensive income] (XIV+XV)	135.79	240.37	8.66	548.47
XII	Details of equity share capital
	Paid-up equity share capital	2,500.40	2,500.40	2,500.40	2,500.40
	Face value of equity share capital (Per Share)	2.00	2.00	2.00	2.00
XIII	Earnings per share
(a)	Earnings per share (not annualised for quarter ended)
	Basic earnings (loss) per share from continuing operation	0.11	0.20	0.01	0.45
	Diluted earnings (loss) per share from continuing operation	0.11	0.20	0.01	0.45
(b)	Earnings per share (not annualised for quarter ended)
	Basic earnings (loss) per share from continuing and discotinued operations	0.11	0.20	0.01	0.45
	Diluted earnings (loss) per share continuing and discotinued operations	0.11	0.20	0.01	0.45

For and on behalf of the Board of Directors of AIRAN Limited

Sandeepkumar Vishwanath Agrawal (Managing Director) Din : 02566480

Notes on Standalone Financial Results:

• 1 The above Standalone results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 14, 2021.
• 2 The standalone financial result for the quarter ended 30th June 2021 have been prepared in accordance with the recognition and measurement principles laid down in Inadian Accounting Standard (Ind AS) 34, "Interim Financial Reporting" prescribed under Section 133 of the Companies Act 2013 read with relevant rules thereunder and in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No. CIR/CFD/CMD/44/2019 dated 29 March, 2019. are in compliance with Indian Accounting Standards (Ind-AS) notified by the Ministry of Corporate Affairs.
• 3 The Company is engaged in Single Segment of Service Sector and there are no other segments in which the Company is engaged. Hence Segment Reporting is not made by the company.
• 4 The results of the company are available for investors at www.airanlimited.com and www.nseindia.com.
• 5 Previous year's/period's figures have been regrouped/rearranged wherever necessary.

For and on behalf of the Board of Directors of AIRAN Limited

Sandeepkumar Vishwanath Agrawal (Managing Director) Din : 02566480

Limited review report on unaudited quarterly consolidated financial results of Airan Limited for the quarter ended on 30-06-2021, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Regulations) Regulations, 2015, as amended

To the Board of Directors of

Airan Limited

• 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Airan Limited ('hereinafter referred to as 'the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter ended 30th June 2021 ('the Statement'), being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
• 1. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standard on Auditing and consequently does not enable us to obtain assurance that would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. We also performed procedures in accordance with the circular issued by SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The Statement includes results of the following entities:
  • a. Quadpro ITES Limited
  • b. Cqub Infosystems Private Limited
  • c. Airan Global Private Limited
  • d. Airan Singapore Private Limited
  • e. Airan Australia Pty Limited
  • f. Airan UK Limited
• 1. We did not review the interim financial results of the subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs. 240.22 lakhs and total net profit after tax of Rs. 15.89 lakhs and total comprehensive income of Rs. 15.89 Lakhs for the period from 01-04-2021 to 30-06-2021, respectively as considered in the consolidated unaudited financial results. These interim financial results have not been reviewed by us and have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the management and the procedures performed by us as stated in paragraph 3 above.

1. Three of the Subsidiaries are located outside India whose interim financial results has been prepared in accordance with the accounting principles generally accepted in such country and which may / has been reviewed by another auditor under generally accepted auditing standard applicable in that country. The parent management has converted this financial result of such subsidiary located outside India from accounting principle generally accepted in that country to accounting principle generally accepted in India. Our conclusion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the report of the management / other auditor and conversion adjustment prepared by the management of the company.

Our conclusion on the Statement is not modified in respect of the above matter.

For Deora Maheshwari Co. Chartered Accountants FRN: 123009W

CA Aditya Deora Partner Membership no. 160575 UDIN : 21160575AAAADB7491

Place: Ahmedabad Date: 14/08/2021

Consolidated UnAudited Statement of Financial Results for the quarter ended on June 30, 2021

		(Rs. In Lakh except per share data)
Particulars		Six Months EndedQuarter EndedYear to Date
		30/06/2021	31/03/2021	30/06/2020	31/03/2021
A	Date of start of reporting period	01/04/2021	01/01/2021	01/04/2020	01/04/2020
B	Date of end of reporting period	30/06/2021	31/03/2021	30/06/2020	31/03/2021
C	Whether results are audited or unaudited
D	Nature of report standalone or consolidated	UnauditedConsolidated	AuditedConsolidated	UnauditedConsolidated	AuditedConsolidated
I	Revenue From Operations
	Net sales or Revenue from Operations	1,935.26	2,196.59	1,045.06	6,629.74
II	Other Income	91.85	26.46	48.32	225.67
III	Total Income (l+Il)	2,027.11	2,223.05	1,093.38	6,855.41
IV	Expenses
(a)	Employee benefit expense	986.03	950.56	653.02	3,361.63
(b)	Purchase of Stock in Trade	-	-	-	34.84
(c)	Finance Costs	18.73	39.87	20.04	71.85
(d)	Depreciation and amortisation expense	116.96	127.07	92.04	433.41
(e)	Co-ordinator Expense	320.09	296.81	166.57	939.33
(f)	Data Processing Expense	236.46	333.78	64.64	770.02
(g)	Other Expenses	136.65	147.68	75.53	479.75
	Total expenses (IV)	1,814.92	1,895.77	1,071.84	6,090.83
V	Profit/(loss) before exceptional items and tax (III-IV)	212.19	327.28	21.54	764.58
VI	Profit (loss) after exceptional items and before Tax (V-VI)	212.19	327.28	21.54	764.58
VII	Tax Expense	51.63	77.00	5.74	176.01
(a)	Current Tax	49.06	97.61	13.99	201.25
(b)	Deferred Tax (Income)/Expense	2.57	(20.61)	(8.25)	(25.24)
VIII	Profit (Loss) for the period from continulng operations (VlI-VlII)	160.56	250.28	15.80	588.57
IX	Profit (Loss) for the period (XIII A + XIII B + XIII C)	160.56	250.28	15.80	588.57
X	Other Comprehensive Income
	a. i). Items that will not be reclassifled to profIt or loss
	Remeasurement of Defined Benefit Plan	(2.85)	(11.40)		(11.40)
	Income tax relating to measurement of Defined Benefit Plan	0.72	2.87		2.87
	b. i). Item that will be reclassifed to profit or loss
	exchange difference on translation of foreign operations	-	0.69	-	0.69
	ii). Income tax relating to items that will be reclassifed to profit or loss
	Total Other Comprehensive income	(2.13)	(7.84)	-	(7.84)
XI	Total Comprehensive income [Comprising Profit for the Periodand Other comprehensive income] (XIV+XV)	158.43	242.44	15.80	580.73
	Profit Attributable to:
	Owners of the Company	157.20	247.33		585.62
	Non-Controlling Interest	3.36	2.95		2.95
	Total Comprehensive income attributable to:
	Owners of the Company	155.07	239.49		577.78
	Non-Controlling Interest	3.36	2.95		2.95
XII	Details of equity share capital
	Paid-up equity share capital	2,500.40	2,500.40	2,500.40	2,500.40
	Face value of equity share capital (Per Share)	2.00	2.00	2.00	2.00
XIII	Earnings per share
(a)	Earnings per share (not annualised for quarter ended)
	Basic earnings (loss) per share from continuing operation	0.13	0.20	0.01	0.47
	Diluted earnings (loss) per share from continuing operation	0.13	0.20	0.01	0.47
(b)	Earnings per share (not annualised for quarter ended)
	Basic earnings (loss) per share from continuing and discotinued operations	0.13	0.20	0.01	0.47
	Diluted earnings (loss) per share continuing and discotinued operations	0.13	0.20	0.01	0.47

For and on behalf of the Board of Directors of AIRAN Limited

Sandeepkumar Vishwanath Agrawal (Managing Director) Din : 02566480

Notes on Consolidated Financial Results:

• 1 The above Consolidated results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 14, 2021.
• 2 The Consolidated financial result for the quarter ended 30th June 2021 have been prepared in accordance with the recognition and measurement principles laid down in Inadian Accounting Standard (Ind AS) 34, "Interim Financial Reporting" prescribed under Section 133 of the Companies Act 2013 read with relevant rules thereunder and in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No. CIR/CFD/CMD/44/2019 dated 29 March, 2019. are in compliance with Indian Accounting Standards (Ind-AS) notified by the Ministry of Corporate Affairs.
• 3 The unaudited financial results of Current quarter include the financial results of the company and its 6 subidiaries: Cqub Infosystems Pvt. Ltd, Airan Global Pvt. Ltd, Quadpro ITES Ltd, Airan Singapore Pvt. Ltd, Airan Australia Pty Ltd & Airan UK Ltd.
• 4 The Company is engaged in Single Segment of Service Sector and there are no other segments in which the Company is engaged. Hence Segment Reporting is not made by the company.
• 5 The results of the company are available for investors at www.airanlimited.com and www.nseindia.com.
• 6 Previous year's/period's figures have been regrouped/rearranged wherever necessary.

For and on behalf of the Board of Directors of AIRAN Limited

Sandeepkumar Vishwanath Agrawal (Managing Director) Din : 02566480