BSE Limited — Interim / Quarterly Report 2021

May 13, 2021

12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, India Tel: +91 22 6819 8000

Chartered Accountants

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Independent Auditor’s Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of BSE Limited

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of BSE Limited (the “Company”) for the quarter and year ended March 31, 2021 (“Statement”), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

• i. is presented in accordance with the requirements of the Listing Regulations in this regard; and

• ii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit, other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended (“the Act”). Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the Standalone Financial Results” section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management’s Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

S.R. Batliboi & Co. LLP, a Limited Liability Partnership with LLP Identity No. AAB-4294 Regd. Of fi ce : 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016

Chartered Accountants

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In preparing the Statement, the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Chartered Accountants

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Other Matters

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For S.R. BATLIBOI & Co. LLP

Chartered Accountants ICAI Firm Registration Number: 301003E/E300005

Digitally signed by JAYESH JAYESH MANHARLAL GANDHI DN: cn=JAYESH MANHARLAL MANHARLAL GANDHI, c=IN, o=Personal, email=jayesh.gandhi@srb.in GANDHI Date: 2021.05.13 16:44:16 +05'30'

per Jayesh Gandhi Partner Membership No.: 037924 UDIN: 21037924AAAADZ9790 Mumbai May 13, 2021

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BSE Limited

CIN L67120MH2005PLC155188

(Formerly known as Bombay Stock Exchange Limited) Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001

Statement of Standalone Financial Results for the quarter and year ended March 31, 2021

Statement of Standalone Financial Results for the quarter and year ended March 31, 2021 Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001 (Formerly known as Bombay Stock Exchange Limited) CIN L67120MH2005PLC155188 BSE Limited	Statement of Standalone Financial Results for the quarter and year ended March 31, 2021 Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001 (Formerly known as Bombay Stock Exchange Limited) CIN L67120MH2005PLC155188 BSE Limited	Statement of Standalone Financial Results for the quarter and year ended March 31, 2021 Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001 (Formerly known as Bombay Stock Exchange Limited) CIN L67120MH2005PLC155188 BSE Limited	Statement of Standalone Financial Results for the quarter and year ended March 31, 2021 Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001 (Formerly known as Bombay Stock Exchange Limited) CIN L67120MH2005PLC155188 BSE Limited	Statement of Standalone Financial Results for the quarter and year ended March 31, 2021 Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001 (Formerly known as Bombay Stock Exchange Limited) CIN L67120MH2005PLC155188 BSE Limited	Statement of Standalone Financial Results for the quarter and year ended March 31, 2021 Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001 (Formerly known as Bombay Stock Exchange Limited) CIN L67120MH2005PLC155188 BSE Limited	Statement of Standalone Financial Results for the quarter and year ended March 31, 2021 Registered office: Floor 25, P J Towers, Dalal Street, Mumbai 400001 (Formerly known as Bombay Stock Exchange Limited) CIN L67120MH2005PLC155188 BSE Limited
		(₹ in Lakh)
PARTICULARS		For the quarter ended March 31, 2021	For the quarter ended December 31, 2020	For the quarter ended March 31, 2020	For the year ended March 31, 2021	For the year ended March 31, 2020
		Audited	Unaudited	Audited	Audited	Audited
1 2 3 4 5 a) b) c) d) e) f) g) h) 6 7 8 9 10 11 12 13 14 **15 **	Revenue from operations Investment income Other income (refer note 6) Total income (1+2+3) Expenses Employee benefits expense Finance costs (refer note 4b) Depreciation and amortisation expense Computer technology related expenses Settlement of service tax matter (refer note 8) Provision for Additional Contribution to ISF and IPF (refer note 6) Administration and other expenses Liquidity enhancement scheme expenses (refer note 9) Total expenses (5a to 5h) Profit before exceptional item and tax (4-5) Exceptional item (net) (refer note 4a and 4b) Profit before tax (6+7) Tax expense/(Write back) (refer note 5) Other comprehensive income (net of taxes) Paid up equity share capital (face value per share ₹ 2 Each) Other equity Earnings per equity share (face value per share ₹ 2 Each) Total comprehensive income for the period / year (10+11) Basic and diluted before exceptional item (₹) (refer note below) Basic and diluted after exceptional item(₹) (refer note below) Profit for the period / year (8-9)	12,919 746 523	10,198 3,085 557	9,953 2,322 776	42,392 11,356 2,757	37,863 13,956 2,394
		14,188	13,840	13,051	56,505	54,213
		2,183 (52) 1,365 2,537 - - 4,483 587	2,220 82 1,330 3,198 - - 3,865 631	2,315 - 1,148 3,212 4 1,861 4,303 160	8,914 33 5,103 11,482 - - 16,011 1,910	9,390 - 4,355 13,090 366 1,861 16,568 219
		11,103	11,326	13,003	43,453	45,849
		3,085 -	2,514 -	48 -	13,052 (1,453)	8,364 9,158
		3,085 1,590 1,495	2,514 385 2,129	48 (111) 159	11,599 1,873 9,726	17,522 155 17,367
		54 1,549 900 3.26 3.26	12 2,141 900 4.65 4.65	23 182 900 0.35 0.35	277 10,003 900 217,817 23.30 21.23	(25) 17,342 900 215,601 16.72 35.37

Note: Basic and diluted EPS is not annualised for the quarter ended results. EPS is calculated on outstanding shares issued by BSE Limited (the "Company") including shares held in abeyance.

BSE - CONFIDENTIAL

BSE Limited

(Formerly known as Bombay Stock Exchange Limited) Standalone Balance Sheet as at March 31, 2021

BSE Limited (Formerly known as Bombay Stock Exchange Limited) Standalone Balance Sheet as at March 31, 2021	BSE Limited (Formerly known as Bombay Stock Exchange Limited) Standalone Balance Sheet as at March 31, 2021	BSE Limited (Formerly known as Bombay Stock Exchange Limited) Standalone Balance Sheet as at March 31, 2021	BSE Limited (Formerly known as Bombay Stock Exchange Limited) Standalone Balance Sheet as at March 31, 2021
		(₹ in Lakh)
PARTICULARS		As at March 31, 2021	As at March 31, 2020
		Audited	Audited
1 2 3 4 5	ASSETS Non-current assets a. Property, plant and equipment b. Capital work-in-progress c. Investment properties d. Goodwill e. Intangible assets f. Intangible assets under development g. Financial assets i. Investments a. Investments in subsidiaries b. Investments in associates Settlem c. Other investments ii. Other financial assets h. Deferred tax assets (net) i. Income tax assets (net) j. Other assets Total non-current assets Current assets a. Financial assets i. Investments ii. Trade receivables iii. Cash and cash equivalents iv. Bank balances other than (iii) above v. Other financial assets b. Other assets Total current assets Total assets (1+2) EQUITY AND LIABILITIES Equity a. Equity share capital b. Other equity Total equity Liabilities Non-current liabilities a. Financial liabilities b. Other liabilities Total non-current liabilities Current liabilities a. Financial liabilities i. Trade payables a. Total outstanding dues of micro enterprises and small enterprises b. Total outstanding dues of creditors other than micro enterprises and small enterprises ii. b. Provisions c. Income tax liabilities (net) d. Other liabilities Total Current Liabilities Total Equity and Liabilities (3+4+5) Other financial liabilities Other financial liabilities	8,527 20 392 - 2,851 360 71,505 4,723 23,349 8,536 11,190 6,707 2	9,096 827 412 - 2,334 1,489 68,850 4,723 38,749 8,856 10,804 5,634 14
		138,162	151,788
		98,186 5,575 11,563 39,245 5,255 1,300	103,708 5,195 3,011 17,376 315 836
		161,124	130,441
		299,286	282,229
		900 217,817	900 215,601
		218,717	216,501
		868 20	676 88
		888	764
		5 8,973 44,246 1,325 944 24,188	16 6,756 39,686 1,114 944 16,448
		79,681	64,964
		299,286	282,229

BSE - CONFIDENTIAL

BSE Limited

(Formerly known as Bombay Stock Exchange Limited)

CIN L67120MH2005PLC155188

Cash Flow Statement for the year ended March 31, 2021

BSE Limited (Formerly known as Bombay Stock Exchange Limited) Cash Flow Statement for the year ended March 31, 2021 CIN L67120MH2005PLC155188	BSE Limited (Formerly known as Bombay Stock Exchange Limited) Cash Flow Statement for the year ended March 31, 2021 CIN L67120MH2005PLC155188	BSE Limited (Formerly known as Bombay Stock Exchange Limited) Cash Flow Statement for the year ended March 31, 2021 CIN L67120MH2005PLC155188
	(₹ in Lakh)
PARTICULARS	For the year ended Mar 31, 2021	For the year ended Mar 31, 2020
A. CASH FLOW FROM OPERATING ACTIVITIES Profit for the year Adjustments for Income tax expenses recognised in profit and loss Depreciation and amortisation expenses Impairment loss on financial assets carried at cost Net gain on disposal of property, plant and equipment and intangible assets Impairment loss on financial assets and bad debts write off Net gain on partial disposal of investment in subsidiary measured at cost Net gain arising on financial assets measured at FVTPL Interest income Dividend income Provision for compensated absences Operating cash flow before working capital changes Movements in working capital (Increase) / decrease in trade receivables Increase/ (decrease) in trade payables Increase/ (decrease) in provisions (Increase) / decrease in other financial assets and other assets Increase / (decrease) in other financial liabilities and other liabilities Cash generated from operations Direct taxes paid- net of refunds Net cash generated from operating activities B. CASH FLOW FROM INVESTING ACTIVITIES Fixed assets Purchase of fixed assets, including intangible assets, capital work in progress and capital advances Proceeds from sale of fixed assets Investments Net (increase)/decrease in investment in mutual funds Investment in bonds and non-convertible debentures Proceeds received from bonds and non-convertible debentures Investment in fixed deposits Proceeds received from fixed deposits Investment in subsidiaries Proceeds received on partial sale of investment in subsidiary/associate Interest received Dividend received from Subsidiaries/Associates and Mutual Fund Net cashgenerated from investing activities	9,726 1,873 5,103 3 3 1,720 - (9,620) (793) (943) 611 7,683 (2,100) 2,206 211 (4,839) 6,830 9,991 (3,471)	17,367 155 4,355 791 (10) 1,749 (9,158) (11,529) (403) (2,024) 497 1,790 (2,831) 3,180 76 (407) 8,302 10,110 (3,502)
	6,520	6,608
	(3,562) 1 30,541 (1,502) 1,500 (19,167) 3,349 (2,655) - 371 943	(2,981) 15 47,910 - 2,500 (41,422) 39,298 - 10,102 592 2,024
	9,819	58,038
C. CASH FLOW FROM FINANCING ACTIVITIES Payment towards buyback including transaction cost Dividend and taxes paid thereon Net cash used in financing activities Net increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Balances with banks* In current accounts In deposit accounts with original maturityof 3 months	- (7,787)	(47,620) (15,843)
	(7,787)	(63,463)
	8,552 3,011	1,183 1,828
	11,563	3,011
	1,200 10,363	2,713 298
*** Cash and cash equivalents at the end of theyear**	11,563	3,011

The accompanying notes form an integral part of the financial statements

1. The Cash Flow Statement has been prepared under the "Indirect Method" as set out in Indian Accounting Standard - 7 "Cash Flow Statement".

2. Movement in earmarked liabilities and assets are not considered.

3. Previous year's figures have been regrouped wherever necessary.

BSE - CONFIDENTIAL

• 1 The above standalone financial results for the quarter and year ended March 31, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors on May 13, 2021 and the statutory auditors of the Company have conducted an Audit of the said standalone financial results for the quarter and year ended March 31, 2021.

• 2 The above standalone financial results for the quarter and year ended March 31, 2021 are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.

• 3 The Company operates only in one Business Segment i.e. "Facilitating Trading in Securities and other related ancillary Services", hence does not have any reportable Segments as per Ind-AS 108 "Operating Segments".

• 4 (a) During the previous year, the Company had divested its 4% stake in its associate company Central Depository Services (India) Limited ("CDSL") through offer for sale. The profit on divestment amounting to ₹ 9,158 Lakh was reflected as an "Exceptional Item" in the Standalone Financial Results for the year ended March 31, 2020. (b) S & P Dow Jones Indices LLC and SPDJ Singapore Pte Ltd (hereinafter collectively called as “SPDJ”) had filed arbitration proceedings against BSE under Singapore International Arbitration Center’s rules, inter alia, challenging the termination of index licensing arrangement by BSE Limited. The Final Award passed by the Arbitrator Tribunal dated September 17, 2020 inter-alia, held that the termination of the Agreements by BSE is invalid, the Agreement continue to remain in force and the costs of arbitration, legal and other costs incurred by SPDJ shall be borne by BSE. Accordingly, an amount of ₹ 1,453 Lakh is paid by BSE to SPDJ with interest upto the date of payment. The said amount has been paid and has been disclosed as an "Exceptional item" for the year ended March 31, 2021. Interest paid to SPDJ of ₹ 17 Lakh has been disclosed as finance cost for the year ended March 31, 2021.

5	A Taxation Laws (Amendment) Ordinance, 2019 (“Ordinance”) on September 20, 2019 has amended the Income Tax Act, 1961 and
	Finance (No. 2) Act, 2019, by which the option has been provided for the lower tax regime without any incentives for the domestic
	companies. Under the revised tax regime, benefit of accumulated Minimum Alternate Tax (MAT) credit is not allowed. Considering the
	substantial accumulated MAT credit, the management has assessed that at present it is beneficial not to opt for the option of availing
	revised income tax rate. The tax liability for the current period and previous period has been accordingly calculated.
6	The Company had earlier received observations from SEBI in respect of inspection conducted for the period 2005 – 2017, in which the
	Company was asked to plough back certain amount to Investors’ Services Fund (“ISF”) and BSE Investors Protection Fund Trust (“IPF”)
	in respect of expenses charged in the earlier years to these funds. On the basis of response submitted by the Company, in the year
	ended March 2020, SEBI concluded and instructed the Company to plough back an amount of ₹ 1,037 Lakh along with interest to the
	said funds. Consequently, an expense of ₹ 1,385 Lakh was charged to the profit and loss account for the year ended March 31, 2020
	along with expense of ₹ 476 Lakh for the year ended March 31, 2018. Accordingly, an amount aggregating to ₹ 1,861 Lakh was
	disclosed as "Provision for Additional Contribution to ISF and IPF" for the year ended March 31, 2020. Subsequently, based on final
	amount arrived by SEBI, the Company had reassessed amount chargeable to the fund for earlier years and has written back ₹ 595 Lakh
	to "Other income" in the year ended March 31, 2021.
7	As per the assessment of management, there are no lease contracts for which IND AS 116 – Leases is required to be applied.
8	During the previous year, the Company had opted for the Sabka Vishwas (Legacy Dispute Resolution) scheme, 2019 for the settlement
	of service tax matter of earlier years. Accordingly, an amount of ₹ 366 Lakh was paid under the said scheme, which was charged to
	the profit and loss account for the year ended March 31, 2020.
9	Pursuant to SEBI Circular CIR/MRD/DP/14/2014 dated April 23,2014 and BSE Notice no-20190805-10, 20190925-31, 20191108-25, with
	effect from November 25, 2019, the Company has introduced the Liquidity Enhancement Scheme (LES) in derivatives. An expense of ₹
	587 Lakh, ₹ 631 Lakh, ₹ 160 Lakh, ₹ 1,910 Lakh and ₹ 219 Lakh has been incurred towards the scheme for the quarter ended March 31,
	2021, quarter ended December 31, 2020, quarter ended March 31, 2020, year ended March 31, 2021 and year ended March 31, 2020
	respectively.

BSE - CONFIDENTIAL

• 10 Interoperability among clearing corporations was implemented from June, 2019. After implementation of interoperability, the members have the option to choose the clearing corporation to clear their trades. Based on their selection, the trades of BSE are cleared by respective clearing corporations.

As per the requirement arising out of August 27, 2014 SEBI Circular on CIR\MRD\DRMNP\25\2014, for contribution by exchange to Core Settlement Guarantee Fund ("Core SGF"), BSE needs to contribute to Core SGFs of all the Clearing corporations through which its trades are cleared.

BSE has already contributed ₹ 14,488 to Indian Clearing Corporation Ltd., which is in excess by ₹ 11,777 as compared to the requirement, as of March 31, 2021. Based on the transactions executed on BSE and which are cleared by other Clearing Corporations, requirement of Core SGF is ₹ 1,599 as on March 31, 2021, which has been duly paid.

• Based on representation made by the company, SEBI allowed transfer of excess contribution made by the Stock Exchanges from Core SGF of one Clearing Corporation to the Core SGF of another Clearing Corporation and hence there is no additional charge to profit and loss account in this regard.

• 11 The novel coronavirus (COVID-19) pandemic continues to spread across the globe including India. COVID-19 has taken its toll on not just human life, but business and financial markets too. With substantial increase in COVID-19 cases across different parts of the country, governments have introduced a variety of measures to contain the spread of the virus, including lockdowns and restrictions on movement of people and goods across different geographies.

Certain establishments including securities market intermediaries are permitted to operate and continue to remain exempted from restrictions. In case there is disruption in the functioning of the capital markets, the business of the Company may be affected.

• The management has, at the time of approving the financial statements, assessed the potential impact of the COVID-19 on the Company. Based on the current assessment, the management is of the view that impact of COVID-19 on the operations of the Company and the carrying value of its assets and liabilities is minimal.

• 12 The Code on Social Security,2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.

• 13 The Board of Directors of the Company at its meeting held on May 13, 2021 have recommended a payment of dividend of ₹ 21/- per equity share of ₹ 2/- each. The proposal is subject to the approval of shareholders at the ensuing Annual General Meeting.

• 14 The figures for the quarter ended March 31, 2021 are arrived at as difference between audited figures in respect of the full financial year for the year ended March 31, 2021 and the reviewed figures upto nine months period ended December 31, 2020.

• 15 Previous quarter's / year's figures have been regrouped / reclassified and rearranged wherever necessary to correspond with the current quarter's / year's classification / disclosure.

For and on behalf of Board of Directors of BSE LIMITED

Mumbai, May 13, 2021

Ashishku Digitally signed by: Ashishkumar mar Manilal Manilal ChauhanDN: CN = Ashishkumar Manilal Chauhan C = IN O = Personal Chauhan Date: 2021.05.13 16:36:32 +05'30' Ashishkumar Chauhan Managing Director & CEO

BSE - CONFIDENTIAL