Calcom Vision Ltd. — Interim / Quarterly Report 2023

Aug 11, 2023

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August 11, 2023

To, The Manager (Department of Corporate Services) Bombay Stock Exchange Ltd. PhirozeJeejeebhoy Towers Dalal Street MUMBAI - 400 001

Scrip Code: 517236

Dear Sir,

Sub: Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 —Investor Release)

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements} Regulations 2015, please find enclosed an investor release being issued by the Company in respect of the Unaudited Financial Results for the quarter ended on June 30, 2023,

We request you to kindly take this on your record.

Thanking You

Yours Truly For Calcom Vision Limited

AAYUSH Digitally signed by AAYUSHI JINDAL Date: 2023.08.11 I JINDAL 13:03:57 +05'30'

Aayushi Jindal Company Secretary and Compliance officer Enclosed-A/a

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Investor Presentation

Strictly Private and Confidential

Contents

Company’s Performance

Financial Result

Other Updates

Share Price Movement

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Strictly Private and Confidential

Company’s Performance

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Strictly Private and Confidential
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Quarter wise Sales

(INR Cr.)

0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 45.00 50.00
	44.09 46.89
	39.02 38.16
	3308
	30.07 . 30.30
	24.02
	1775 22.24
	14.20 .
	758
	3.48 .
	FY 21 FY 22 FY 23 FY 24 Quarter 1	FY 21 FY 22 FY 23 Quarter 2	FY 21 FY 22 FY 23 Quarter 3	FY 21 FY 22 FY 23 Quarter 4

• Company has achieved the quarterly sales of INR 33.08 Cr. The Q1 FY24 sales increased by 10% as compared to the corresponding Quarter of the previous year.

• The lighting industry has a seasonality factor. The first quarter is normally lean month because of longer days and more light.

• During this quarter there have been major technological shift in LED bulbs. The earlier LED Bulb designs were 'Driver-based bulbs’. The new designs are 'Driver on Board (DOB) bulbs.' As a result, there has been a downward pricing impact on the turnover, estimated at around 35%.

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Strictly Private and Confidential

(INR Cr.)

Quarterly EBITDA

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5.00
4.10
3.95
4.00
3.47
2.90
3.00
2.56
2.35
2.15
2.00
1.56
1.23
0.99
0.89
1.00
0.00
FY 21 FY 22 FY 23 FY24 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23
-1.00
Quarter 1 Quarter 2 Quarter 3 Quarter 4
-1.03
-0.05
-2.00
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EBITDA increased 9.27% over corresponding quarter.

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Strictly Private and Confidential

Quarterly EBITDA%

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15.00%
11.51%
8.89% 8.96% 8.74%
10.00% 7.15% 7.10% 6.27% 6.49% 6.93% 7.60%
5.00% 3.27%
0.00%
FY 21 FY 22 FY 23 FY24 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23
-5.00%
Quarter 1 Quarter 2 Quarter 3 Quarter 4
-10.00%
-0.66%
-15.00%
-20.00%
-25.00%
-30.00%
-29.56%
-35.00%
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Strictly Private and Confidential

(INR Cr.)

Quarterly PBT

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3.00
2.45 2.50
2.50
2.06
1.89
2.00 1.76
1.50
1.06
1.00
0.57 0.57
0.51
0.50 0.33
-0.16
0.00
FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23
-0.50
Quarter 1 Quarter 2 Quarter 3 Quarter 4
-1.00
-0.96
-1.50
-1.55
-2.00
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• The production process of new design 'Driver on Board (DOB) bulbs is very different. Hence the automation done earlier became partly redundant and Company had to shift many operations to manual. This resulted in increased manpower cost and lower productivity and lower profitability. The Company is working on new automation processes and hope to cover up soon.

• RoHS was introduced from April 1, 2023 resulting in changes in manufacturing processes leading to increased cost and lower productivity also resulting reduced profitability.

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Strictly Private and Confidential

(INR Cr.)

Quarterly PAT

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2.50
2.00 1.84
1.76
1.53
1.48
1.40
1.50
1.00
0.79
0.57
0.51
0.43
0.50 0.33
0.00
FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23 FY 21 FY 22 FY 23
-0.16
-0.50
Quarter 1 Quarter 2 Quarter 3 Quarter 4
-1.00
-0.96
-1.50
-1.55
-2.00
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Strictly Private and Confidential

Financial Results

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Strictly Private and Confidential

(INR in lacs)

Profit and Loss Account

S.No.	Particulars	Quarter Ended	Quarter Ended	Quarter Ended	Year Ended
		30.06.23	31.03.23	30.06.22	31.03.23
		Unaudited	Audited**	Unaudited	Audited
I	Revenue From operations	3,307.95	4,688.02	3,007.63	16,006.73
II	Other Income	16.13	54.31	8.06	88.36
III	Total Income (l+Il)	3,324.08	4,742.33	3,015.69	16,095.09
IV	EXPENSES
(a)	Cost of materials consumed	2,858.42	3,524.79	2,574.69	12,913.24
(b)	Changes in inventories of finished goods, Stock-in -Trade and work-in- progress	(333.82)	223.13	(224.28)	(385.01)
(c)	Employee benefits expense	444.09	442.06	346.61	1,716.81
(d)	Finance costs	107.68	96.13	50.82	318.57
(e)	Depreciation and amortization expenses	70.40	64.31	58.21	241.44
(f)	Other expenses	120.45	141.58	103.52	482.50
	Total expenses (lV)	3,267.22	4,492.00	2,909.57	15,287.55
V	Profit/(loss) before exceptional items and tax (III-IV)	56.86	250.33	106.12	807.54
VI	Exceptional Items-(expenses)/income	-	-	-	-
VII	Profit/ (loss) before tax (V+VI)	56.86	250.33	106.12	807.54

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Strictly Private and Confidential

(INR in lacs)

Profit and Loss Account

	S.No.	Particulars	Quarter Ended	Quarter Ended	Quarter Ended	Year Ended
			30.06.23	31.03.23	30.06.22	31.03.23
			Unaudited	Audited**	Unaudited	Audited
	VII	Profit/ (loss) before tax(V+VI)	56.86	250.33	106.12	807.54
	VIII	Taxexpense:
		(1) Current tax	14.31	61.99	26.71	202.23
		(2)Deferred tax	-	40.69	-	40.69
	IX	Profit / (Loss) after tax (VlI-VlII)	42.55	147.65	**79.41 **	**564.62 **
	X	Other Comprehensive Income
		A. (i) Items that will not be re-classified to profit or loss: - Remeasurement of defined benefit Plan	(3.37)	1.99	3.85	(13.64)
		-Reversal of Revaluation Surplus onLand &Building	21.53	21.53	21.53	86.12
		(ii) Income tax relating to items that will not be reclassified to profit or loss	-	3.43	-	3.43
		B. (i) Items that will be re-classified to profit or loss	-	-	-	-
		(ii) Income tax relating to items that will be reclassified to profit or loss	-	-	-	-
		Total Other Comprehensive Income (X)	18.16	26.95	25.38	75.91
	XI	Total Comprehensive Income for the period Comprising Profit /(Loss) and Other comprehensive Income for the period (IX+X)	60.71	174.60	104.79	640.53
	XII	Paid-up Equity Share Capital (Face Value Rs.10/-)	1,348.51	1,279.18	1,276.35	1,279.18
	XIII	Reserves (excluding Revaluation Reserve shown in balance sheet)	-	-	-	2,208.33
	XIV	Earningsper equityshare(of Rs.10 each) (*not annualized):
		(1) Basic	0.33	1.16*	0.62*	4.42
		(2) Diluted	0.30	1.13*	0.61*	4.32

Profit and Loss Account

Notes:

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1. The Results have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standard) Rules, 2015 as amended.

2. The above results are reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 10th August, 2023. The Statutory Auditors of the Company have conducted a "Limited Review" of the financial results for the quarter ended June 30, 2023.

3. **The Figures for the quarter ended March 31, 2023 are the balance figures between the audited figures in respect to the full financial year and the published figures for the nine months ended on December 31, 2022 which were subject to limited review.

4. During the quarter ended June 30, 2023, the employees have exercised 41,672 Nos of Stock Options under Calcom Employees Stock Option Plan, 2018.

5. During the reporting period the company has come up with a Preferential Issue of Rs.14.92 Crore. The Company has issued Equity Shares of Rs.8.67 Crore at an issue price of Rs.157/- each (including Rs.147/- each as securities premium) and Compulsory Convertibile Warrant of Rs.6.25 Crore at an issue price of Rs.157/- each. The details are as under:

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• 5,52,117 Nos of Equity Shares as fully paid up

• 3,98,087 Nos of Compulsory Convertible Warrants (Partly paid up Rs.39.25/-each i.e. 25%).

• The Provision for taxation has been made on estimation basis. Provision for deferred tax liability / asset would be made at the end of the year.

• The Company is engaged only in one electronic segment & there is no other segment to report. Hence segment reporting under Ind AS 108 is not required.

• Figures for the previous period have been re-grouped / re-arranged wherever necessary to make them comparable with current period.

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Strictly Private and Confidential

Other Updates

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Strictly Private and Confidential

Other Updates

During this quarter there have been major technological shift in LED bulbs. The earlier LED Bulb designs were 'Driver-based LED bulbs' that have become 'Driver on Board (DOB) LED bulbs.' As a result, there has been a downward pricing impact on the turnover, estimated at around 35%.

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Strictly Private and Confidential

Other Updates

Restriction of Hazardous Substances in Electrical and Electronic Equipment (RoHS) was not applicable to the Lighting products. From April1, 2023 Government introduced the RoHS mandate for Lighting products.

The immediate implication of this on your Company is multifold:

1. All the components used in manufacturing of all products has to be RoHS compliant. The Company had to collect necessary certification from all the Vendors in this regard.

2. The systems have to be modified to ensure that there is no violation of this compliance by any vendor in times to come.

3. The solder/solder paste used in manufacturing has to be lead free.

4. Our machines have to be modified/upgraded for lead free solder.

5. The RoHS compliance results in increased cost of the product. Hence alternates have to be found out to reduce the cost as well as negotiate with the Vendors & Customers revised prices for the components affected by the mandate.

Unfortunately, Government has reversed the RoHS notification on July 24, 2023 and deferred till April 1, 2025. The Company has already incurred all the cost for the implementation of the RoHS Compliance.

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Strictly Private and Confidential

Other Updates

The company secured an investment of INR 10.23 Cr to fund its future business requirements through the Issuance of Equity Shares and Warrants to the Promoter and Non-Promoter categories. Balance of Rs. 4.69 Cr will be received in next 18 months for Warrants payment, making total fund raise of Rs. 14.92 Cr.

We added 4 new customers in this quarter including one for Exports to USA.

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Strictly Private and Confidential

Share Price Movement

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Calcom Share Price & Volumes
(Apr'22 - July'23)
180 800000
169
165
160
168 700000
148 155
141 141
140
137 600000
122
136 138
120
118
122 114 500000
105
100
97
400000
80
300000
60
200000
40
100000
20
0 0
Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23
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Volumes
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Strictly Private and Confidential

Thank You

Disclaimer

This presentation may contain “forward-looking statements” by “Calcom Vision Limited” that are not historical in nature. Such forward-looking statements are subject to certain risks and uncertainties such as government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements.

“Calcom Vision Limited” will not be in any way be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward looking statements to reflect subsequent events or circumstances. The images used in this presentation are taken from the open sources and it will be not used for commercial purposes. This presentation is for internal purposes and not for circulation.

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Strictly Private and Confidential