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California Software Co. Ltd. Interim / Quarterly Report 2021
63642_rns_2021-07-28_3e1fcbb5-2959-4bbe-91a9-04c4bf562b5e.pdf
Interim / Quarterly Report
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California Software Company Limited
CIN: L72300TN1992PLC022135 Registered Office: 2 nd Floor, Unit 9, STPI Building, 5 Rajiv Gandhi Salai, Taramani, Chennai 600 113, India Phone +91 044 3910 3620 Email: [email protected] www.calsoftgroup.com/www.calsof.com
July 28, 2021 National Stock Exchange of India Limited Exchange Plaza, Plot No.C/1,GBlock, Bandra - Kurla Complex, Bandra (East), Mumbai-400 051.
Bombay Stock Exchange Corporate Relations Department,1st Floor, New Trading Ring, P. J. Towers, Dalal Street, Mumbai-400 001.
Symbol : CALSOFT Security Code No.: 532386
Dear Sir/Madam,
Sub : Outcome of Board Meeting - financial results for the quarter ended 30th June, 2021
Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 ("Listing Regulations") and further to our intimation dated July 20, 2021, we hereby inform that the Board of Directors at their meeting held today i.e. July 28, 2021, as inter alia approved the unaudited financial results (Standalone and Consolidated) of the Company as per Indian Accounting Standards (IND AS) for the quarter ended 30thJune, 2021.
Please find enclosed herewith a copy of the financial results (Standalone and Consolidated) along with Limited Review Report there on as per the prescribed format pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The board meeting commenced at 03.00PM and ended at 07.15PM
We request you to take the aforesaid on records.
Thanking you.
Yours faithfully, For California Software Company Limited
Dr. M. Vasudevan Managing Director
N. BALASUBRAMANIAN ASSOCIATES CHARTERD ACCOUNTANTS
Independent Auditor's Review Report on unaudited standalone financial results of California Software Company Limited for the quarter ended June 30, 2021 pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended.
To the Board of Directors California Software Company Limited Chennai.
-
- We have reviewed the accompanying statement of unaudited standalone financial results ('Statement') of California Software Company Limited ('the Company') for the quarter ended 30th June 2021, being submitted by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No.CIR/CFD/CMD1/44/2019 dated March 29, 2019.
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- This standalone statement is the responsibility of the Company's Management and has been 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 34 "Interim Financial Reporting" (Ind AS 34"), prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express conclusion on the Statement based on our review.
-
- We conducted our review in accordance with the Standard on Review Engagement (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 financial statements are free of material misstatement. A review is limited primarily to inquiries of the company's personnel responsible for financial and accounting matters and applying analytical procedures to financial data and thus provide less assurance than an audit. We have not performed an audit accordingly, we do not express an audit opinion.
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- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying unaudited standalone Statement prepared in accordance with applicable accounting standards i.e. Ind AS prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For N. Balasubramanian Associates. Chartered Accountants
Ralabrama
(N. Balasubramanian) Partner. M.No. 023445
Place: Chennai Date: July 28, 2021
UDIN: 21023445 AAAAGG $3932$
OFFICE: NO.50, MANTAPAM ROAD, KILPAUK, CHENNAI 600010 MAIL: [email protected] Mobile: 9444016789
| Quarter endedYear endedParticulars30th Jun'2131st Mar'2130th Jun'2031st Mar'21Un AuditedUn AuditedUn AuditedAuditedRevenue from Operations350.0015.0035.00145.50Other Income----Total Income350.0015.0035.00145.50ExpensesEmployee benefit expenses48.786.549.7340.12Finance costs----Depreciation/Amortisation expenses29.5929.59--Other expenses6.2619.567.4149.52Total expenses55.0455.6917.14119.23Profit before exceptional items and tax294.96(40.69)17.8626.27Exceptional items----Profit before tax294.96(40.69)17.8626.27Tax expensesCurrent tax3.07---Deferred tax3.76---Profit for the period(40.69)294.9617.8619.44Other Comprehensive IncomeItems that will not be reclassified to Profit or Lossi.----ii.Income tax relating to items that will not be reclassified to Profit or Loss----iii.Items that will be reclassified to Profit or Loss----Income tax relating to items that will be reclassified to Profit or Lossiv.----Total Other Comprehensive Income (Net of Tax)----Total Comprehensive Income for the period294.96(40.69)17.8619.44Net Profit attributable to:a)Owners of the company294.96(40.69)17.8619.44b)Non-controlling interest----Other Comprehensive Income attributable to:Owners of the companya)----b)Non-controlling interest----Total Comprehensive Income attributable to:a)Owners of the company294.96(40.69)17.8619.44b)Non-controlling interest----Earnings per Equity share (Face value- Rs. 10) *a)Basic1.91(0.26)0.140.13b)Diluted1.91(0.26)0.140.13Number of Sharesa)Basic154.57154.57123.65154.57 | (Rs. in lakhs) | ||||
|---|---|---|---|---|---|
| b)Diluted | 154.57 | 154.57 | 123.65 | 154.57 |
California Software Company Limited Standalone Financial Results for the quarter and year ended Jun 30th, 2021
*EPS not annualized
Notes:
1.The COVID pandemic is unprecedented and the Company has also experienced its adverse impact. With gradual resumption of operations, plants have started moving towards normalcy, though challenges still exist. While the Company continues to work very closely with all the stakeholders, the situation continues to be still evolving. The Company, as at the date of approval of these financial statements, has relied on available information and assumptions to arrive at its estimates.
-
The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on July 28, 2021
-
The Financial results have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ("Ind AS") prescribed under section 133 of the Companies Act, 2013, read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
-
The Company is engaged in primarily in the IT and Software development business and there are no separate reportable segments as per Ind AS 108 on "Operating Segments" and hence the Ind AS 108 is not applicable.
-
The figures of last quarter of current year and previous year are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures.
-
The figures for the corresponding previous period have been regrouped/ reclassified wherever necessary, to make them comparable.
For and on behalf of the Board
Date: July 28,2021 Director Place: Chennai DIN- 01608150
Mahalingam Vasudevan
N. BALASUBRAMANIAN ASSOCIATES CHARTERD ACCOUNTANTS
Independent Auditor's Review Report on unaudited consolidated quarter ended 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 California Software Company Limited Chennai
-
- We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of California Software Company Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net (loss) after tax and total comprehensive income of subsidiary for the quarter ended 30th June 2021 and for the period from 1st April 2021 to 30th June 2021. ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
-
- This Statement, which is the responsibility of the Parent's Management and approved by the Parent'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 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
-
- 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 Parent's personnel 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 Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
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The Statement includes the results of the following entities: Subsidiary - M/s. Aspire Communications Private Limited
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Based on our review conducted and procedures performed as stated in paragraph 3 above and based MANIA pensideration of the review reports of other auditors referred to in paragraph 6 below, companying legs come to our attention that causes us to believe that the accompanying Statement, MBAER accordance with the recognition and measurement principles laid down in the F.N6:09559 LELian 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 SEBI CHENNAL
OFFICE: NO.50, MANTAPAM ROAD, KILPAUK, CHENNAI 600010 MAIL: [email protected] Mobile: 9444016789
N. BALASUBRAMANIAN ASSOCIATES CHARTERD ACCOUNTANTS
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
The consolidated unaudited financial results include the interim financial information of subsidiary 6. company of M/s. Aspire Communications Private Limited, which have not been reviewed by their auditors, whose interim financial information reflect total revenue of Rs. Nil and total profit after tax of Rs. Nil and total comprehensive income of Rs. Nil for the quarter ended June 30, 2021 respectively and Cash flows (net) of Rs. Nil for the period from 1st April 2021 to 30th June 2021, as considered in the consolidated unaudited financial results, based on their interim financial information which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, this interim financial information is not material to the Group.
Our conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the management.
For N. Balasubramanian Associates, Chartered Accountants,
Releframan
(N. Balasubramanian) Partner. M. No. 023445
UDIN: 21023445 AAAAGF
Place: Chennai Date: July 28, 2021
OFFICE: NO.50, MANTAPAM ROAD, KILPAUK, CHENNAI 600010 MAIL: [email protected] Mobile: 9444016789
| (Rs. in lakhs) | |||||
|---|---|---|---|---|---|
| Quarter ended | Year ended | ||||
| Particulars | 30th Jun'21 | 31st Mar'21 | 30th Jun'20 | 31st Mar'21 | |
| Un Audited | Un Audited | Un Audited | Audited | ||
| Revenue from Operations | 350.00 | 15.00 | 35.00 | 145.50 | |
| Other Income | - | - | - | - | |
| Total Income | 350.00 | 15.00 | 35.00 | 145.50 | |
| Expenses | |||||
| Employee benefit expenses | 48.78 | 6.54 | 9.73 | 40.12 | |
| Finance costs | - | - | - | - | |
| Depreciation/Amortisation expenses | - | 29.59 | - | 29.59 | |
| Other expenses | 6.26 | 19.56 | 7.41 | 49.52 | |
| Total expenses | 55.04 | 55.69 | 17.14 | 119.23 | |
| Profit before exceptional items and tax | 294.96 | (40.69) | 17.86 | 26.27 | |
| Exceptional items | - | - | - | - | |
| Profit before tax | 294.96 | (40.69) | 17.86 | 26.27 | |
| Tax expenses | |||||
| Current tax | - | - | - | 3.07 | |
| Deferred tax | - | - | - | 3.76 | |
| Profit for the period | 294.96 | (40.69) | 17.86 | 19.44 | |
| Other Comprehensive Income | |||||
| i. | Items that will not be reclassified to Profit or Loss | - | - | - | - |
| ii. | Income tax relating to items that will not be reclassified to Profit or Loss | - | - | - | - |
| iii. | Items that will be reclassified to Profit or Loss | - | - | - | - |
| iv. | Income tax relating to items that will be reclassified to Profit or Loss | - | - | - | - |
| Total Other Comprehensive Income (Net of Tax) | - | - | - | - | |
| Total Comprehensive Income for the period | 294.96 | (40.69) | 17.86 | 19.44 | |
| Net Profit attributable to: | |||||
| a) | Owners of the company | 294.96 | (40.69) | 17.86 | 19.44 |
| b) | Non-controlling interest | - | - | - | - |
| Other Comprehensive Income attributable to: | |||||
| a) | Owners of the company | - | - | - | - |
| b) | Non-controlling interest | - | - | - | - |
| Total Comprehensive Income attributable to: | |||||
| a) | Owners of the company | 294.96 | (40.69) | 17.86 | 19.44 |
| b) | Non-controlling interest | - | - | - | - |
| Earnings per Equity share (Face value- Rs. 10) * | |||||
| a) | Basic | 1.91 | (0.26) | 0.14 | 0.13 |
| b) | Diluted | 1.91 | (0.26) | 0.14 | 0.13 |
| Number of Shares | |||||
| a) | Basic | 154.57 | 154.57 | 123.65 | 154.57 |
| b) | Diluted | 154.57 | 154.57 | 123.65 | 154.57 |
| *EPS not annualized |
California Software Company Limited Consolidated Financial Results for the quarter and year ended Jun 30th, 2021
Notes:
1.The COVID pandemic is unprecedented and the Company has also experienced its adverse impact. With gradual resumption of operations, plants have started moving towards normalcy, though challenges still exist. While the Company continues to work very closely with all the stakeholders, the situation continues to be still evolving. The Company, as at the date of approval of these financial statements, has relied on available information and assumptions to arrive at its estimates.
-
The above results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on July 28, 2021 3. The Financial results have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ("Ind AS") prescribed under section 133 of the Companies Act, 2013, read with relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
-
The Company is engaged in primarily in the IT and Software development business and there are no separate reportable segments as per Ind AS 108 on "Operating Segments" and hence the Ind AS 108 is not applicable.
-
The figures of last quarter of current year and previous year are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures.
-
The figures for the corresponding previous period have been regrouped/ reclassified wherever necessary, to make them comparable.
Place: Chennai DIN- 01608150
Standalone Results of the Company:
| Quarter ended | Year ended | |||
|---|---|---|---|---|
| Particulars | 30th Jun'21 | 31st Mar'21 | 30th Jun'20 | 31st Mar'21 |
| Un Audited | Un Audited | Un Audited | Audited | |
| Total Income | 350.00 | 15.00 | 35.00 | 145.50 |
| Net Profit/(loss) before tax expenses | 294.96 | (40.69) | 17.86 | 26.27 |
| Net Profit/(loss) for the period/year | 294.96 | (40.69) | 17.86 | 19.44 |
| Total Comprehensive Income for the period/year | 294.96 | (40.69) | 17.86 | 19.44 |
| Date: July 28, 2021 | For and on behalf of the BoardMahalingam VasudevanDirector |