Aurionpro Solutions Ltd. — Interim / Quarterly Report 2021

Feb 5, 2021

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05th February, 2021

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Depth. of Corporate Services- Listing NationalStock Exchange of India Limited Exchange Plaza, Plot no. C/I, G Block, sandra Kurla Complex, sandra (E) Mumbai - 400051

SUB: UNAUDITED (STANDALONE & CONSOLIDATED) FINANCIAL RESULTS FOR THE THIRD 0UARTER/NINE MONTHS ENDED 31ST DECEMBER. 2020 ALONG. WITH IMITED REVIEW REPORT.

Dear Sir/Madam

Pursuant to Regulation 33 of the SEMI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly find enclosed herewith Un-Audited (Standalone & Consolidated) Financial Results for the third quarter/nine months ended 31st December. 2020, along with Limited Review Report thereon received from M/s. Chokshi& Chokshi., LLP, Statutory Auditors of the Company.

For Aurionpro Solutions Li[cited]

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N
Ninad Kblkar
Company Secretary
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phone +91 22 4040 7070 fax +91 22 4040 7080

in fo@aurionpro.com www.aurionpro.com IN L99999NIH1997PLCl1163

Synergia IT Park. Plot No. R-270 T.T.C. Industrial Estate. Gautam Nagai Near Rabale Police Station. Rabale. Navi Mumbai- 400 701. MH - INDIA

Aurionpro Solutions Limited

aurionpro 8:

Aurionpro Solutions Limited

Statement of Unaudited Standalone FinanciaIResults for the Quarter and Nine months ended December 31. 2020

								Rs.in lakhs
				Quarter ended		Nine months ended		Year ended
	Particulars		31-Dec-20	30-Sep 20	30-Dec-19	31-Dec-20	31 Dec-19	31-Mar-20
			Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
l	Income
	ja) Revenue from Operations		5.329.29	4.414 64	7.759.07	13.466 98	22.505 49	28.543.58
	jbjother Incom e		59.87	63.74	177.30	221.55	713.Q4	1.107 27
	[c) Totailncome [ (a) + (t)) ]		5.389.16	4,478.38	7.936.37	13.688.53	23,218.53	29.650.85
2	Expenses
	jaj$oftware.Hardware a ld other MaterialCost						l0.665.31	12.628 38
	(b) Change in inventories af Raw Materials Finished Goods and Stock in-Trade						976.75	1.032.79
	c) Employee Benefits Expense						6.153.40	8.336 02
	Id) Finance Costs						1.202 43	1.598 43
	[e) Depreciation and AmortisatiQn Expense						1.056.69	T.469.26
	(f} Other Expenses						2.300.82	2.957 59
	Cg) TotaIExpenses [ (a) to (f) ]		5.065.77	3.880.59	7.606.11	12.628.49	22,355.40	28.a22.47
3	Profit/ (Lass) before Exceptionalltems I rC) - 2	and Tax	323.39	597.79	330.26	1.060.04	B63.13	1.62B.38
4	Exceptionalltems
5	Profit / (Loss) before Tax 3+4		323.39	597.79	330.26	1.060.04	863.13	1.628.38
	Tax Expenses
	(a) Current Tax					203.84	394.52	52085
	lb) Deferred Tax Charge/(Credits					B2.63	36.26	7893
7	Profit/ (Loss) after Tax [ 5 - 6 ]		201.49	445.16	136.19	773.57	432.35	1.028.60
	C)ther CQmorehensive Income net of tM		23.74	4.49	6.59	55.IC	51 46	8454
a	TatalComprehensive Income for the period +8		177.74	440.67	142.78	718.46	380.89	944.06
	paid-up Equity Share Capital(Face Value each	of Rs lO	2.280.02	2.28D.02	2,280.02	2.280.02	2.2B0.02	2.280.02
11	Other Equity(Excluding Revaluation Reserve)							21.337.26
12	Earn ings Der eauitv share
	Basic Rs			195		339	1.85	440
	Diluted fRs		0 88	195	0.58	3.39	1.85	440

Earnings per equity share for the quarter and nine months ended are nQt annualised

See accompanying notes to the financialresults

Synergia IT Park. Plot No. R-270. phone 91 22 4040 7070 info (@aurionpro.com T.T.C. Industrial Estate. Gautam Nagar. fax +91 22 4040 7080 www.aurionpro.com Near Rabale Police Station. Rabble CiK L99999B.IH1997P .lava Nlumbai- 400 701. NIH - INDIA

Aurionpro Solutions Limited

aurionpro 8

Notes to the Standalone FinanciaIResults

• l Other Income include foreign exchange (gain)/ loss of INR 84.00 Lakhs and INR 173.15 Lakhs for the quarter and nine months ended 31/12/2020 respectively (Quarter and nine months ended 31/12/2019: INR 6.99 Lakhs and INR (103.68) Lakhs respectively)

• Software development and other related expenses include purchase of material and license of INR 1,326.52 Lakhs and INR 2,131.54 Lakhs for the quarter and nine months ended 31/12/2020 respectively. (Quarter and nine months ended 31/12/2019: INR 3,025.47 Lakhs and INR 7,336.03 Lakhs respectively)

• As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue s accounted on estimate basis in respect of contracts where the contractual right to consideration is based on completion of contractual milestones as confirmed by the technical team

• 4 The Company had subscribed Optionally Convertible Debentures (OCDs) issued by its wholly owned subsidiary AurofidelOutsourcing Limited. Out of the OCDs amounting to INR 2,100.00 Lakhs as on 01/10/2020, OCDs amounting to INR 721.00 Lakhs have been redeemed during quarter ended 31/12/2020. Pursuant to the approvalvide Investment Committee meeting of the Board held on 13/11/2020, the Company has subscribed OCDs amounting to INR 2.010.00 Lakhs on 3]./12/2020

• 5 The Company has examined the possible effects that may result from the COVID-19 pandemic on the carrying amounts of receivables, unbilled revenues, inventory, investments, right of use assets and intangible assets. While estimating the possible future uncertainties in the globaleconomic conditions because of this pandemic, the Company, has used internaland externalsources of information including credit reports, economic forecasts and consensus estimates from market sources. The Company has carried out sensitivity analysis on the assumptions used and based on current estimates, expects that the carrying amounts of the aforementioned assets will be realised on or before annual closing of accounts. The impact of COVID-19 on the Company's financialresults may differ from that estimated as at the date of approvalof these financial results.

• 6 The segment information, pursuant to the requirement of Ind AS 108 operating Segments Is given as part of the consolidated financialresults.

• 7 The new Code on Social Security, 2020 has been enacted on 28/09/2020, which would mpact the contributions by the Company towards Provident Fund and Gratuity. The

• effective date from which the changes willbe applicable is yet to be notified and the rules are yet to be framed. The Company willcomplete its evaluation and willgive appropriate mpact in its financial results in the period in which. the Code and the Rules become

• eff e ctive

• 8 Due to COVID 19, the RBI vide circular dated 27/03/2020 and 23/05/2020 had given the option of moratorium for repayment of term loan, which had been exercised by the Company. During the quarter ended 31/12/2020, the financialinstitutions have charged lterest amounting to KS 107.56 Lakhs for the moratorium

Synergia IT Park, Plot No. R-270. phone .91 22 4040 7070 info@aurionpro.com T.T C Industrial Estate Gautam Nagar. fax +91 22 4C)40 7C180 www.aunonpro.com Near Rabble Police Station. Rabble NaviLlumbai- 400 701 bIH - INDIA

Aurionpro Solutions Limited

aurionpro i:

1. The figures for the earlier periods have been regrouped / reclassified wherever necessary to make them comparable with those of the current period.

2. The Statutory Auditors of the Company have conducted a limited review of the standalone financial results for the quarter ended 31/12/2020 pursuant to the requirements of Regulation 33 of the SEMI (LODR) Regulations 2015 as amended. These financialresults have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on 05/02/2021

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For Aurionpro Solutions Limited
,OLU
L,'(
xiiit Sheth
Co-Chairman & Director
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Place: Navi Mumbai Date: OS/02/2021

Aurionpro Solutions Limited

Synergia IT Park . Plot No. R-270, phone 91 22 4040 7070 )fo@aurionpro.com T.T,C. Industrial Estate. Gautam Nagar. fax +91 22 4040 7080 www.aunonpro.com Near Rabale Police Station. Rabale CiN L99999NIH1997PLC 111637 Naval\,tumbal- 400 701. MH - INDIA

CHOKSHl& CHOKSHILLP Chartered Accountants

Independent Auditor's Review Report on the Unaudited Standalone FinanciaIResults of Aurionpro Solutions Limited for the Quarter and Nine Months ended 31/12/2020, pursuant to the Regulation 33 otlhe SEBL(Listing Obligations and Disclosure Requirements) Regulations. 2015, as amended

To The Board of Directors

Aurionpro Solutions Limited

1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Aurionpro Solutions Limited (the 'Company ') for the quarter and nine months ended 31/12/2020 (the 'Statement '), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Regulation ')

2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013(the 'Act ') read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

3. 3 We conducted our review of the Statement in accordance with the Standard on Review Engagements(SRE) 2410, 'Review of Interim Financiallnformation 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 from materialmisstatement. A review is limited primarily to inquiries of the Company personneland analyticalprocedures applied to financialdata and thus provides 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 and procedure performed as stated in paragraph 3 above, nothing has come to ou attention that causes us to believe that the accompanying Statement of unaudited standalone financialresults, prepared n accordance with recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Regulations, including the manner in which it is to be disclosed, or that it contains any materialmisstatement.

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For CHOKSHl& CHOKSHILLP
Chartered Accountants
FRN - I01872W /W100045
Partner
M. No. 100770
U DIN: 2 1100770AAAAAU1518
----- End of picture text -----

Place: Navi Mumbai

Date: 05/02/202].

CI)okshi& Chokshi LLP is a Limited Liability Partnership with LLP Registration No. AAC-8909

gerd. OfUicc: 15/17, Raghaqi'B ' [lldg., GrouncIF]oor, Ragha\ljiRoad. Goua]ia Tank, O]]'Kemps ('order. N]umbai-400036 Tc1.: +91-22-2383 6900 ; Fax : +91-22-2383 6901 ; \h'cb: www.chokshiandchokshi.cor

E-mail: contact(dchokshiandchokshi.com

aurionpro $'

Aurionpro Solutions Limited

Statement of Unaudited Consolidated FinanclaIResults for the Quarter and Nino months ended December 31, 2020

							tRs.in lakhs
			Quarter ended		Ni ne months	ended	Year BndBd
	Particulars	31-Dec-20	30-Sep-20	31-DBc-19	31-Dec-2a	31-Dec-19	31-Mar-20
		Unaudited	unaudited	Unaudited	Unaudited	Unaudited	Audited
	Income
	(a) Revenue from Operations	l0.202.52	B.837 24	45924	26.641.83	36.280 18	47.415 a9
	(b) Other Income		(20.11)	193.25	19764	568.53	978.79
	[c) Totallncome [ (a) + (b) ]	l0,269.37	B,817.13	11,652.49	26,839.47	36,848.71	48.393.8B
2	Expenses
	la) Software.Hardware and C)thor MaterialCQst
	jb) Change in Inventories of Raw Materials
	Finished Goods and Stock in-Trade
	c) Employee Benefits Expense
	d) Finance Costs
	je) Depreciation and Amo isation Expense
	It) Other Expenses
	Igl Total Expenses [a) to {l) ]	9,293.95	7,981.21	11,123.17	24.7Q6.26	33.822.48	45,006.81
3	Profit floss) before Shard of Profit of Associates Exceptjonalltems and Tax rl fc) - 2	975.42	B35.92	529.32	2.133.21	3.026.23	3.387.07
4	Share of profit of Associates			9.34		40.78	40.78
5	Profit (Lass) before Exceptionalltems and Tax [ 3+4 ]	975.42	B35.92	53B.66	2.133.21	3.067.01	3,427.85
6	Exceptionalltems
7	Profit/(Loss) before Tax [ 5+6 ]	975.42	835.92	538.66	2,133.21	3,067.01	3.427.85
8	Tax Expenses
9	la) Current Tax lbl Deferred Tax Charge/ (Credit) Profit LOSS after Tax 7-8	B49.40	671.74	(190.79) 126 99 602.46	288a 1.860.59	''i:; 2.870.29	428 21 (169 46) 3.169.10
10	Other Comprehensive Income (net of tax)	lO lO	432	34 52	1.09	lla 34)	(2575)
11	TotalComprehensive [ncome for thB periQd]9+10]	B59.50	676.06	636.98	1.861.68	2.851.95	3.143.35
12	Profju LOSS For the Deriad attributable ta
	ja) Equity holders of the company					2.551.46	3 193.09
	jb) Non Controlling Interest	C122S)	[4358)		(133 37)	31883	l23 99)
13	?aid up Equity Share Capital(Face Value Qf Rs.lO each)	2,28a.02	2,28a.02	2.280.02	2.28a.02	2.280.02	2.280.02
4	Other Equity (Excluding Revaluation Reserve)						52.059 92
15	Earnings PBr Bqu itv Share
	Basic rRs	378	314	2.45	B.75	1091	365
	Diluted R:	378	314	245	B 75		1365
Earmnas oer eauitv share ror the auaner and nine months ended		are not annualised
3ee	accompanying niles to the financial results

Aurionpro Solutions Limited

Synergia IT Park. Plot No. R-270, T.T.C. Industrial Estate. Gautanl Nagar. Near Rabale Police Station. Rabale. Ravi hlumbai- 400 701. 1'.IH - INDIA

phone -91 22 4040 7070 fax +91 22 4040 7080

info(@aurionpro.com www.au rio npro .com CIN L99999hIH1997PLCl11637

aurionpro 6"

Notes to the Consolidated FinanciaIResults

Segment Information

IRs. in lakhs)

			Quarter ended	Quarter ended	Quarter ended		Nine months Ended	Nine months Ended	Year ended l
	Particulars	31-Dec-20	30-Sep-20			31-Dec-19	31-Dec-20	31-Dec-19	31-Mar-20
		Unaudited	junaudited		junaudited		Unaudited	Unaudited	Audited
	Segment Revenue
	Information technologies and consultancy services	7,941.65		7,705.80		6,967.94	22,552.11	24,725.39	33,655.72
	Sale of equipment and License Total(a+b)	2,260.87 l0.202.52		1,131.44 8,837.24	1 4,491.30 111,459.24		4,089.72 26,641.83	11,554.79 36.280.18	13.759.37 47,415.09
l	Segment Results
A	Information technologies and consultancy services	6,363.70		6,316.36		5,592.36	18,347.96	1,9268.92	2S,181.52
B	Sale of equipment and License	518.17		232.14	1	760.29	1,065.72	2,478.67	3,378.75
	Total(a+b)	6,881.87		6,548.50	1	6,352.65	19,413.68	21,747.59	28,560.27
Less	Un-allowable expenses
A	Employee benefits expense	3,890.71		3,676.S9		3,591.72	11,111.57	11,274.67	15,026.67
B	Finance costs			384.68		377.25	1,208.69	1,357.89	1,826.42
C	Depreciation and amortization expenses			795.55		970.60	2,770.34	2,871.51	4,219.7S
D Add	Other expenses Un-allocable income	752.97 66.85	1 1	835.65 (20.11)		1,077.01 193.25	2,387.SI 197.64	3,785.82 568.S3	S,079.15 978.79
Add	Share of Profit of Associates					9.34		40.78	40.78
	Totalprofit before tax	975.42		835.92		538.66	2,133.21	3,067.01	3,427.85

Assets and liabilities used in the Company's business are not identified to any of the reportable segment, as these are used interchangeably between segments. The Management believes that it is not practicable to provide segment disclosures relating to totalassets and liabilities since a meaningful segregation of the available data is onerous.

• 2 The Company has consolidated financial results of all its subsidiary companies / joint ventures/ associates as per Indian Accounting Standard 110- Consolidated FinancialStatements.

• 3 Other income includes foreign exchange (gain)/loss of INR (20.56) Lakhs and INR (52.85) Lakhs for the quarter and nine months ended 31/12/2020 respectively. (Quarter and nine months ended 31/12/2019: INR 19.81 Lakhs and INR 38.44 Lakhs respectively)

• 4 The Investment Committee of the Board of Directors of the Company, in its meeting held on 31/12/2020 has given in-principle approval for transfer of 49% holding of the Company in Intellivisions Software LLC, Dubai to Aurionpro Solutions Pte Limited. The Company shall take approvals and initiate further process in this matter

Aurionpro Solutions Limited

Synergia IT Park, Plot No. R-270, phone +91 22 4040 7070 ifo@aurionpro.com T.T.C Industrial Estate, Gautam Nagai fax +91 22 4040 7080 rww.aunonpro.com IN L99999N-IH1997PLCl116

T.T.C Industrial Estate, Gautam Nagai ear Rabale Police Station. Rabale

400 701. MH - INDIA

aurionpro t

1. As required under Ind AS 115 "Revenue from Contracts with Customers", unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright to consideration is based on completion of contractual milestones as confirmed by the technicalteam.

2. 6 The Company's standalone turnover. profit before tax. profit after tax and total comprehensive ncome is as under:

py ncome is as under:		. p	. p		p
Particulars	I	Quarter ended	Quarter ended	(Nine months I	(Nine months
		31/12/2020	31/12/2019	ended I	ended
		(Unaudited)	IUnaudited)	3i/12/2020 1 fUnaudited) 1	3i/12/20i9 ( Unaudited)
Turnover		5.329.29	7.759.07	13.466.98	22.505.49
Profit before tax		323.39	330.26	L.060.04	863.13
Profit after tax		201.49	136.19	773.57	432.35
Total Comprehensive	1	177.74	142.78	718.46	380.89
Income

• 7 The Company has examined the possible effects that may result from the COVID-19 pandemic on the carrying amounts of receivables, unbilled revenues, inventory, investments, right of use assets and intangible assets. While estimating the possible future uncertainties in the global economic conditions because of this pandemic, the Company, has used internal and external sources of nformation including credit reports, economic forecasts and consensus estimates from market

• sources. The Company has carried out sensitivity analysis on the assumptions used and based on current estimates, expects that the carrying amounts of the aforementioned assets willbe realised on or before annualclosing of accounts. The impact of COVID-19 on the Company's financialresults may differ from that estimated as at the date of approvalof these financial results.

• 8 The figures for the earlier periods have been regrouped/ reclassified wherever necessary to make them comparable with those of the current period

• 9 As per Regulation 33(3)(h) of the DEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, eighty percent of each of the consolidated revenue, assets and profits, respectively needs to be covered under limited review. In order to comply with this requirement, two US based subsidiaries are required to be covered as part of the limited review But due to COVID-19 pandemic, limited review of the said subsidiaries could not be conducted Nevertheless, the aforementioned requirement has been covered to the required extent in respect of consolidated revenue and profits and around sixty seven percent in respect of consolidated assets

• Due to COVID-19, the RBI vide circular dated 27/03/2020 and 23/05/2020 had given the option of moratorium for repayment of term loan. which had been exercised by the Company. During the quarter ended 31/12/2020, the financialinstitutions have charged additionalinterest amounting to Rs.].07.56 Lakhs for the moratorium period

• The new Code on SocialSecurity, 2020 has been enacted on 28/09/2020, which would impact the contributions by the Company towards Provident Fund and Gratuity. The effective date from which the changes willbe applicable is yet to be notified and the rules are yet to be framed. The Company willcomplete its evaluation and willgive appropriate impact in its financial results in the period in which, the Code and the Rules become effective

Aurionpro Solutions Limited

Synergia IT Park. Plot No. R-270. phone .91 22 4040 7070 Info@aurlonpro.com T T.C. Industrial Estate. Gautam Nagai fax .91 22 4040 7Q80 www.aurionpro.com Near Rabale Police Station. Rabale. h,lunlbai- 400 701. NIH - INDIA

aurionpro e

• 12.The Statutory Auditors of the Company have conducted a limited review of the consolidated financial results for the quarter and nine months ended 31/12/2020 pursuant to the requirement of Regulation 33 of the DEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 as amended. These financial results have been reviewed by the Audit Committee and thereafter approved by the Board af Directors at their respective meetings held on 05/02/2021

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----- Start of picture text -----

For Aurionpro Solutions Limited
.,.+
' Ainit Sheth
Co-Chairman & Director
----- End of picture text -----

Place: Navi Mumbai Date: 05/02/2021

phone 91 22 4040 7070 fax 91 22 40a0 7080

Aurionpro Solutions Limited

Synergla IT Park, Plot No. R-270. TT.C. Industrial Estate. Gautam Nagar. Near Rabble Police Station. Rabble. Navif.mumbai- 400 701. N4H - INDIA

to (@aurlonpro.com www.aurronpro.com CiK L99999F.IH1997PLC

CHOKSHl& CHOKSHILLP

Chartered Accountants

ndependent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated FinanciaIResults Pursuant to the Regulation 33 of the SEMI(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To

The Board of Directors

Aurionpro Solutions Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated FinanciaIResults of Aurionpro Solutions Limited jthe 'Holding Company ') and its subsidiaries {the Holding Company and its subsidiaries together referred to as the 'Group '). and its share of the net profit after tax and totalcomprehensive income of its associates for the quarter and nine months ended 31/12/2020(the 'Statement '), being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirementsl Regulations, 2015, as amended (the 'Regulations'l

2. 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 the ndian Accounting Standards prescribed under section 133 of the Companies Act, 2013 (the 'Act ') read with relevant rules ssued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financiallnformation 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 from material misstatement. A review is limited primarily to inquiries of the Company personneland analyticalprocedures applied to financialdata and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion

We also performed procedures in accordance with the SEBICircular No. CIR/CFD/CMDI/44/2019 dated 29.03.2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Regulations, to the extent applicable.

1. The Statement includes the results of the entities as given in the Annexure - I to this report

2. Based on our review conducted and procedure performed as stated in paragraph 3 above, based on the consideration of the review reports of other auditors referred to in paragraph 6 below, unaudited financialresults referred in paragraph 7 below and read with paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standards specified under Section 133 of the Act, as amended. read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement

3. We did not review the financial results of subsidiaries included in the unaudited consolidated financial results, whose financialresults reflect totalassets of Rs 54614.19 lakhs as at 31/12/2020 and totalrevenues of Rs 3470.75 lakhs and Rs 9368.1S lakhs, totalnet profit after tax of Rs 472.77 lakhs and Rs 8S2.511akhs and totalcomprehensive income of Rs 484.43 akhs and Rs 877.78 lakhs for the quarter ended 31/12/2020 and nine months ended 31/12/2020, respectively, as considered in the consolidated unaudited financialresults. The consolidated unaudited financialresults also include the Group's share of net profit/(loss) after tax of Rs (203.73) lakhs and Rs 320.19 lakhs and totalcomprehensive income of Rs (198.49jlakhs and Rs 327.16 lakhs for the quarter ended 31/12/2020 and nine months ended 31/12/2020 respectively, as considered in the consolidated unaudited financialresults, in respect of joint venture, whose interim financialresults have not been reviewed by us. These interim financialresults have been reviewed by other auditors/chartered accountant. xyhan.r.sports have been furnished to us by the Holding Company's Management and our conclusion on the Statement. in

.\£# ? .ly 100045 Jf"-;l Chokshi& C'hokshi LI.I' is a I.imitcd Liability ' Partnership with LLP Rcgistrzition No. AAC-8909 \al$' ' vReg&r'6dbc: 15/17. Raghax=ji'B ' Blog.. Ground Floor. RaghaxjiRoad. Go\xalh Tiinlc Ofl' Kcmps Comer. Mumbai-400036 'X """--'--'' v/7 Tcl.: +91-22-2383 6900 ; Fi x : +91-22-2383 6901; %#'cb: www.chokshiilntlchokshi.com =J::::::;:#' E-mail: contact.2tchokshia]]dchokshi.cone

CHOKSHl& CHOKSHILLP

Chartered Accountants

so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint venture, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above

Of the subsidiaries referred to above, in respect of certain subsidiaries, their financialresults have been prepared in accordance with accounting principles generally accepted in the respective countries of incorporation and the Parent's Management has converted these financialresults fro m accounting principles generally accepted in the respective countries to accounting principles generally accepted in India. Our conclusion on the Statement is not modified in respect of this matter

1. The accompanying unaudited consolidated financialresults include the financialresults of certain subsidiaries which have not been reviewed by the auditors/chartered accountants, whose financialresults reflect totalassets of Rs 50170.SI lakhs as at 31/12/2020 and total revenue of Rs 2481.70 lakhs and Rs 6015.26 lakhs, total net profit/(loss) after tax of Rs 466.55 lakhs and Rs l72.27jlakhs and totalcomprehensive income/(loss) of Rs 487.80 lakhs and Rs (44.01) lakhs, for the quarter ended 31/12/2020 and nine months ended 31/12/2020, respectively, as considered in the consolidated unaudited financia results. These financial results have been prepared in accordance with accounting principles generally accepted in the respective countries of incorporation and the Holding Company's Management has converted these financialresults from accounting principles generally accepted in the respective countries to accounting principles generally accepted in India. These financialresults have been presented solely based on information compiled by the Holding Company's Management and approved by the Board of Directors. According to the information and explanations given to us by the Parent's Management, these financial results are not materialto the Group. Our conclusion on the Statement is not modified in respect of this m8tter.

2. We draw attention to note 9 to the unaudited consolidated financialresults, which describes the extent of coverage of consolidated revenue, assets and profits pursuant to the requirements of Regulation 33(3)(h) of the Regulations. Our conclusion is not modified in respect of this matter.

For CHOKS Hl& CHOKSHILLP Chartered Accountants FRN - I01872W /W100045 Vineet saxena Partner M. No. 100770 U DIN :21100770AAAAAVS151

Place: Navi Mumbai

Date: 05.02.2021

C'hokshi& Chokshi LI.}' is a Limitetl Liabilitlr Partnership with LLI' ltcgistration No. AAC-8909

Rcgd. Office: 15/17. Raghaqi'B ' Bldg., Ground Floor. RaghaqiRuad. (iow:alia Tank. Oft Kemps ('order, Mumbai-400036 -91-22-2383 6900 = Fax : +91-22-2383 69{)1 ; Web: www.chokshian(]chokshi.com E-mail: contact-@chokshiandchokshi.cone

CHOKSHl& CHOKSHILLP Chartered Ac countants

Annexure Tito the Independent Auditor's Review Report on !bgQyg!.te!!yBndyea!!g Results

Dale U naudited Consolidated Fina ncial

Unaudited Consolidated FinanciaIResults for the quarter and nine months ended 31/12/2020 include results of the following entities:

• l Aurionpro Fintech Inc 2 Aurionpro Future Solutions Pte Limited 3. Aurionpro Holdings Pte Limited 4. Aurionpro Market Systems Pte Limited 5. Aurionpro Solutions(Africa) Limited 6. Aurionpro Solutions PLC 7. Aurionpro Solutions Pte Ltd 8. Aurionpro Solutions Pty Limited 9. Cyberinc Corporation 10. AurofidelOutsourcing Limited 11. ntegrosys Corporation 12. Integro Technologies Co. Ltd 13. Integro Technologies Pte Limited 14. Integra Technologies SDN.BHD 15. Integra Technologies(Vietnam) 16. Intellvisions Software LLC 17. Intellvisions Solutions Pvt. Ltd. 18 . PT Aurionpro 19. Sena Systems Private Limited

• Servopt Consulting Private Limited

• 21 Spike Inc

• SC Soft Pte. Ltd 23. Neo. BNK 24. Extrabox Pte Ltd

• 2S. Shenzhen SC Trading Co. Ltd

• 1. SC Soft SDN BHD 27 SC Soft Technologies Private Limited

8'

(.hokshi& ChokshiLI.I' is a I.imitcd Liability Partnership with LLP Registration No. AAC-8909 Read. Office: 15/'17. Raghaqi'B ' lildg.. Ground l;Igor. RaghavjiRoad. Gowalia Tank. Oft' Kemps Corner, b'mumbai-400036 el.: +91-22-2383 6900 ; Fax : +91-22-2383 6901 ; Wcb: wl\w.chokshiandchokshi.com

E-mail: contact@chokshiandchokshi.com