Capacit'e Infraprojects Limited — Interim / Quarterly Report 2021

Aug 11, 2020

Ref : CIL/STEX 30/Q1FY21 Date :August 11,2020

To

The Secretary, BSE Limited Corporate Relation Dept. The Secretary, National Stock Exchange of Plot No. C/'1, c Block, Bandra Kurla Complex Bandra (East) Mumbai-400 051 lndia Limited P.J. Towers, Dalal Street, Fort, Mumbai-400 001 Code - ld: 5407101CAPACITE mbol: CAPACITE

Dear Sir / Madam,

sub: outcome of the Board Meetinq held on Tuesdav. Auqust 11. 2020

With reference to intimation submitted to Exchange dated August 04, 2O2O for schedule of Board Meeting and pursuant to Regulation 30 and 33 of SEBt lt-isting Obligations and Disctosure Requirements) Regulations,2015 as amended, this is to inform that the Board of Directors in their meeting held through Video conferencing, in accordance with (Companies (Meetings of Board and its powers) Amendment Rules, 2020) issued vide Ministry of Corporate Affairs dated 1-gth March, 2O2O on Tuesday, August 11,2020 which commenced at 12 p.m. and concluded at i:15 p.m. inter alia, considered and approved the following:

1. Statement of Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2020 along with Limited Review Report from the Statutory Auditor of the Company, which has been duly reviewed and recommended by the Audit committee. The Unaudited Standalone and Consolidated Financial Results will be made available at www.capacite.in , website of the Company.

A copy of the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2020 along with the Limited Review Report from Statutory Au-ditor of the Company S R B C & Co. LLP, Chartered Accountants, in accordance with Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, iOtS is attached herewith as Annexure A.

1. Appointment of Dr. Manjushree Ghodke (DlN: 07147784) as an Additional (Non-Executive, lndependent) Director of the Company, effective from August 11,2020, for a period of 3 (three) years, subject to the approval of the shareholders at the ensuing Annual General Meetlng of the Company.

Further, as per the requirement of the Circular No. LisUCompl14l2O18-19 dated 20th June, 2018 issued by BSE on the subject of enforcement of SEBI Orders regarding appointment of Directors by listed companies, we hereby affirm that the Director being ippointed is not debarred from holding the office of director by virtue of any order of SEBi or any other such authority.

Mumbal (Head Offlce) :

605'607, Shrlkant Chambere, Phase-|, 6th Flool Adjacent to R. K. Studios, Sion.Trombay Road, Chembur, Mumbai- 400071. Maharaehtra, lndia Tel: 0227173 37'17 , Fax.: 022 7175 3739. Emait; intogcbpaciteln '

The information pursuant to Regulation 30 of Listing Regulations read with SEBI Circular No CIR/CFD/CMDl4l2015 dated 9th September 2015 are as fottows:

Details of Eventsthat needs to beprovided	lnformation of such event(s)
Name of Director	Dr. Maniushree Ghodke
Reason for Chanqe	Appointment
Date of appointment&termofappointment	Appointed as Additional Director (Non-Executive,lndependent) of the Company with effect from August 11,2020, based on the recommendation of Nomination andRemuneration Committee and subject to approval by themembers of the Company at the ensuing Annual GeneralMeetinq of the Companv.
Brief Profile	She has worked as an Economist in lndia for more than 35years in leading organizations including Larsen and Toubroas Chief Economist for more than '10 years. She was alsoassociated with leading Economic newspaper (EconomicTimes), largest private sector financial institution/Bank(lClCl Bank)She has been delivering guest lectures on the economy,banking & finance, Urban infrastructure finance, corporatesector and the economic appraisal of projects for numerousorganizations: lClCl, UTl, USAID, Bank of Muscat,Prudential lclCl, ILFS, SEBI among others since 1991.She holds PhD. from University of Mumbai in the area of"Financing of Urban lnfrastructure". She has done her PostGraduation in Economics from Gokhale lnstitute of Politics& Economics, Pune university. She graduated from LadyShri Ram Colleqe, Universitv of Delhi.
Disclosureofrelationships between	Dr. Manjushree Ghodke is not related to any of theDirectors on the Board.
the Directors

• The 8th Annual General Meeting of the Company will be held on Friday, September 25,2020 through Video Conference ("VC")/ Other Audio Visual Means ("OAVM") facility; 3.
• Register of Members and Share Transfer Books of the Company will remain closed from Friday 18th September, 2020 to Friday 25th September,2020 (both days inclusive) for the purpose of Bth Annual General Meeting. 4.
• Appointment of Mr. Shreyans Jain, Practicing Company Secretary as a Scrutinizer to conduct the e-voting process for the 8th Annual General Meeting of the Company and to submit the Report for declaration of the results thereof. 5.

This is for your information. Kindly take the same on records

Yours Sincerely FoT CAPACIT.E INFRAPROJECTS LIMITED

..$.a"ry:-'

Varsha l{l-alkani Company Secretary and Compliance Officer

Mumbal (Head Offlce) : 605-607, shrikant chambers, efaqg-!eJn_!!or,Adjacent to R. K. studios, sion-Trombay Road, chembuc Mumbai- 400071. Maharashtra, lndia Tel: 0227173'9717 . Fax.'. O22lllS'StiC. Emait: 'info@capaCiteln '

CAPACITIE INF'RAPROJECTS LIMITED

Registered Address of the company - 605-607, shrikant chambers, 6th Froor, phase r

Adjacent to R K Studios, Sion- Trombay Road, Mumbai_ 400 071

Tel:

+91'22 717 33717 Fax: +91-22 717 33 733 Email: compliance@capacite.in

Website : www.capacite.in

CIN : L45400MH2012PL C2343ts

Statement of unaudited standalone financial results for the quarter ended June 30r Z0Z0

(INR in lakhs except as
-------------------------	--

		Standalone
Sr. No.	Particulars	Quarter Ended			Year Ended
		June 30,2020	March 31,2020	June 30,2019	March 31,2020
		Unaudited	Audited(Refer note 6)	Unaudited	Audited
I	Income
	a. Revenue from operations	2,370.14	30,724.78	41,122.00	1,52,874.41
	b. Other income	513.26	s6l.65	674.09	2,538.25
	Total Income [1(a)+1(b)]	2,883.40	31,286.43	41,796.09	1,55,412.66
2	Expenses
	a. Cost of material consumed	967.66	14,825.77
	o. uonsrructlon expenses	966.16		16.414.92	65,7 63.11
	c. Employee benefit expenses	l,503.17	6,491.93	12,398.6r	40,637.89
	d. Finance costs	2,033.29	3,155.30	3,494.73	13,703.28
	e. Depreciation and amortisation expenses	1,617.t4	l,84r.93	r.495.82	6,451.85
	f. Other expenses	1,285.68	3,01 1.59	2,484.18	tt,4t7.96
	rorar expenses lz(a) to z(I)l	8,373.10	1,489.1230,815.64	1,839.3838,127.64	7,098.701,45,072.79
3	Profi U(Loss) before Taxlt-Zy
		(5,489.70)	470.79	3,668.45	10,339.87
4	Tax expense
	Current Tax		841 .05	1 ,130.55	2,866.32
	Deferred Tax	(1,364.06)	(753.35)	155.35	0.617.97\
	Adjustment of tax rqlating to earlier years	tt2.t7
	Total Tax expenses	(1.2s1.89)	87.70	1,285.90	1.248.3s
5	Net profiU(Loss) for the period/year (3-4)	(4,237.81)	383.09
6	Other comprehensive income			2,382.55	9,091.52
	(i) Items th4t will not be reclassified to profit or loss		(77.49\
	(ii) Income tax relating to items that will not bereclassified to profit or loss	162.98(4r.02	19.50	3.78(1.32	6.87(1.73)
		121.96	(s7.99)	2.46
7	Total comprehensive income/(loss) for the period/year(s+6)	(4,1r5.85)	325.10	2,385.01	5.149,096.66
8	Paid up equity share capital (face value: INR 10/- each)	6,789.15	6,789.15	6,789.15	6,789.15
9	Other Equity				85,797.93
l0	Earning per share (of INR 10/- each) (not annualisedfor quarters)*
	(a) Basic (INR)	6.24	0.56	3.51	13.39
	b) Diluted (INR)	6.24)	0.56	3.51	13.39

Weighted average number of equity shares considereO for npS

Notes:

CAPACIT'E INFRAPROJECTS LIMITED Registered Address of the Company - 605-607, Shrikant Chambers, 6th Floor, Phase I Adjacent to R K Studios, Sion-Trombay Road, Mumbai- 400 071 Tel: +91-22 717 33 717 Fax: +91-22 717 33 733 Email: compliance@capacite.in Website: www.capacite.in CIN: L45400MH2012PLC234318

• The above standalone financial results have been prepared in accordance with Indian Accounting Standard as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules, 2015 and the Companies (Indian Accounting Standard) Amendment Rules, 2016. $\overline{2}$
  • The above standalone financial results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at its meeting held on August 11, 2020.
• The limited review as required under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 has been completed by the Statutory auditors of $\overline{\mathbf{3}}$ the Company.
• $\overline{4}$ The Company's business segment consists of a single segment of Engineering, Procurement and Construction contracts' (EPC) in accordance with the requirement of Indian Accounting Standard (Ind AS) 108: Operating Segment. Accordingly, no separate segment information has been provided.
• The Outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. Execution of EPC contracts $\overline{\phantom{a}}$ undertaken by the Company were temporarily suspended during nationwide lockdown. Business operations are being resumed in a phased manner in line with directives from the authorities.

The Company has considered the possible impact of COVID-19 in preparation of these unaudited standalone financial results. Considering the uncertainties involved in estimating the impact of this pandemic, the future impact uncertainty relating to improvement in economic activity and in the real estate sector may have an impact to the Company's operations in future.

• Standalone figures for the quarter ended March 31, 2020 are the balancing figures between the audited figures in respect of the full year ended March 31, 2020 and the published 6 figures of nine months ended December 31, 2019 being the date of the end of the third quarter of the financial year which were subjected to limited review.
• Figures for the previous period have been regrouped / reclassified, where necessary, to confirm to the current period classification. $\overline{7}$

For and on b of the Board of Directors of ects Limited Cap rapr Rohit Katyal Whole-Time Director DIN: 00252944

Place: Mumbai Date: August 11, 2020

CAPACITIE INFRAPROJECTS LIMITED Registered Address of the company - 60s-607, Shrikant chambers, 6th Floor, phase I Adjacent to R I( Studios, Sion- Trombay Road, Mumbai- 400 071 Tel: +91-22717 33717 Fax : +91-22 717 33 733 Email: compliance@capacite.in Website : www.capacite.in

CIN : L45400MH20L2PLC2343LE

statement of unaudited consolidated financial results for the quarter ended June 30, 2020

		tnasConsolidsted
Sr. No.	Particulars	tuarter Ended			Year Ended
		June 30,2020	March 31,2020	June 30,2019	March 31,2020
		Unaudited	AuditedEefer note 6)	Unaudited	Audited
I	Income
	a. Revenue from operations	2,370.t4	30,'724.78	41.122.00	1 .52.899.17
	b. Other income	520.87	561.66	674.09	2,539.78
	Total Income [(a)+l(b)l	2.891.0r	31,286.44	41.796.09	1.55.438.95
2	Expenses
	a. Cost of material consumed	961.66
	b. Construction expenses	966.t6	14,&25.77	t6.414.92	65,763.1 l
	c. Employee benefit expenses	1,503. I 7	6,491.93	12,398.61	40,638.34
	d. ttnance costs	2,033.64	3. l 55.30	3,494.73	13,703.28
	e. Depreciation and amortisation expenses	,6t7 .t4	1,843.35	l.495.82	6,453.30
	f. Other expenses	1,292.94	3,01 1.59	2.484.18	lt,417 .96
	Total expenses [2(a) to 2(f)l	8,380.71	1,489.1230.817.06	1.839.s638.127.82	7,124.501,45,100.49
3	Profit/(Loss) before Tax and share of Profit/(Loss) of Joint
	Ventures and Associates (l-2)	(5,489.70)	469.38	3,668.27	10,338.46
4	ProfiU(Loss) from Associates and Joint Ventures accountedfor using the Equity Method	(67.13	5.66	(20.79.,	(3.3s)
5	Profit/(Loss) before Tax (3+4)	(5,556.83	475.04	3,647,49	10,335.1 I
6	Tax expense
	Current Tax		841 .05	1,130.55	2,866.32
	Uelerred laxAdjustglent ot tax relating to earlier years	0,364.06	(769.74	155.35	1,634.36
	Total Tax expenses	I t3.71(1,2s0.3s)	71.31	1.285.90
					1,231.96
1	Net profit/(loss) for the period/year (5 - 6)	(4,305.4E)	403.73	2,351.58	9,1 03. l5
8	Other comprehensive income
	!) !!9r1p that will not be reclassified to profit or loss	t62,98	(77.49	3.18	6.87
	(ii) Income tax relating to items that will not be reclassified toprofit or loss	(41.02)	19.50	(1.32	(1.73
		12t.96	(s7.99)	2.46	5.14
9	Total comprehensive income/(loss) for the period/year (7 + 8)	(4,184.52)	345.74	2,364.04	9,108.29
l0	ProIit/(LoLs) for the period/year
	r) Ownem of the Company	(4,306.48	403.73	2,361.s8	9,103. l5
	b) Non-controlling interest
lt	Other comprehensive income/(loss) for the period/year
	a) Owners ofthe Company	t2t.96	(s7.99	2.46	5. l4
	b) Non-contlclling interest
t2	Total Comprehensive income/(loss) for the oeriod/vear
	)Owners of the Company	&.184.s2	345.7 4	2,364.04	9,108.29
	b) Non-controlling interest
l3	Paid up equity share capital (face value: INR l0/- each)	6,789. l 5	6,789. l 5	6,789. I 5	6,789. I 5
t4	Other Equity				85,801 .25
l5	Earning per share (of INR 10/- each) (not annualised forquarters)*
	(a) Basic (INR)	(6.34	0.59	3.48	13.41
	b) urluted (lNR)	(6.34	0.59	3.48
					13.41

average EPS

Notes:

CAPACIT'E INFRAPROJECTS LIMITED Registered Address of the Company - 605-607, Shrikant Chambers, 6th Floor, Phase I Adjacent to R K Studios, Sion-Trombay Road, Mumbai- 400 071 Tel: +91-22 717 33 717 Fax: +91-22 717 33 733 Email: compliance@capacite.in Website: www.capacite.in

CIN: L45400MH2012PLC234318

The above consolidated financial results of the Group have been prepared in accordance with Indian Accounting Standard as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules, 2015 and the Companies (Indian Accounting Standard) Amendment Rules, 2016.

• The above consolidated financial results have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at its meeting held on August 11, 2020. $\overline{2}$
• The limited review as required under Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 has been completed by the Statutory auditors of $\overline{\mathbf{3}}$ the Company.
• The Group's business segment consists of a single segment of Engineering, Procurement and Construction contracts' (EPC) in accordance with the requirement of Indian Accounting $\overline{A}$ Standard (Ind AS) 108: Operating Segment. Accordingly, no separate segment information has been provided.
• The Outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. Execution of EPC contracts 5 undertaken by the Group were temporarily suspended during nationwide lockdown. Business operations are being resumed in a phased manner in line with directives from the

The Group has considered the possible impact of COVID-19 in preparation of these unaudited consolidated financial results. Considering the uncertainties involved in estimating the impact of this pandemic, the future impact of this pandemic may be different from those estimated as on the date of approval of these unaudited consolidated financial results. The uncertainty relating to improvement in economic activity and in the real estate sector may have an impact to the Group's operations in future.

• Consolidated figures for the quarter ended March 31, 2020 are the balancing figures between the audited figures in respect of the full year ended March 31, 2020 and the published 6 figures of nine months ended December 31, 2019 being the date of the end of the third quarter of the financial year which were subjected to limited review.
• $\overline{7}$ Figures for the previous period have been regrouped / reclassified, where necessary, to confirm to the current period classification.

For and on behalf of the Board of Directors of Capacit'e Infraprojects Limited Rohit Katyal Whole-Time Director DIN: 00252944

Place: Mumbai Date: August 11, 2020

STSC& COLLP Chrrtered Account!nts

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

Independent Auditor's Review Report on the Quarterly Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the Snnt llisting Obtigations and Disclosure Requirements) Regulations, 2015, as amended

Reyiew Report to The Board of Directors Capacit'e Infraproj ects Limited

• l. We have reviewed the accompanying statement of unaudited standalone financial results of capacit'e Infraprojects Limited (the "company,,) for the quarter ended June 30, 2o2o (the "Statement") attached herewith, being submitted by the Company pursuant to the requiremints of Regulation 33 of the SEBI (Listing Obligations and -Disclosure Requirements) Regulations, 2015, as amended (the,,Listing Regulations").
• ,> This statement, which is the responsibility of the company,s Management and approved by the Company's Board of r)irectors, has been prepared in accordance-*itl, tt"."rogritio, uni measurement principles laid down in Indian Accounting Standard 34, (Ind AS 3r) ..Interim Financial Reporting" prescribed under Section 133 of thi companies ltt, zot: as amended, 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 oui review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagenlents (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 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 Standards on Auditing 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.
• 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 the recognition and measurement principles laid down in the aforesaid Indian Accounting Standardsl,lnd AS') specified under Section 133 of the Companies Act,2Ol3 as amended, iead with relevant rulei issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any materlal misstatement.

STS{&COLLP

Capacit' e Infraproj ects Limited Page2 of2

5. Emphasis of Matter

matter. We draw attention to note 5 of the Statement, which describes the management assessment of uncertainties related to Covid-I9 and its consequential impact including the recoverability of its assets and operations of the Company. Our conclusion is not modified in respect of this

FoTSRBC&COLLP Chartered Accountants ICAI Firm Registration Number: 324982818300003

per Jayesh Gandhi Partner Membership No.: 37924 UDIN: 20037924AAAAKY641 8 Place: Mumbai Date: August 11,2020

SffBC&COLLP 12th Floor, The Ruby Chartered Accountants

29 Senapati Bapat Marg Dadar (West) Mumbai - 400 028, lndia Tel: +91 22 6819 8000

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regutations, 2015, as amended

Review Report to The Board of Directors Capacit'e Infraproj ects Limited

• l. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Capacit'e Infraprojects Limited ("Holding Company") and its subsidiary (the Holding Company and its subsidiary together refened to as '1he Group"), its associates and joint ventures for the quarter ended June 30,2020 (the "Statement") attached herewith, 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 (the "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, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, 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.
• 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 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 Standards on Auditing 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 No. CIR/CFD/CMD1/4412019 dated March 29,2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

1. The Statement includes the results of the following entities:

Subsidiary:

a. CIPL PPSL Yongnam Joint Venture Construction Private Limited

Joint Ventures:

• a. PPSL Capacite JV
• b. Capacite Viraj AOP

Associates:

• a. TPL-CL Construction LLP
• b. TCC Constructions Private Limited

S R tJ C 8 CO LLP, . Liilited Liabrtity P.rtnBrship with LLp tdentity No. AAB.431B Rogd, Olfice;2?, Camac Stroet, Btock'B', 3rd ftoor, Kotkata.TOO 016

fiBC& COLLP Accountants

'e Infraprojects Limited 2 of2

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 u."ornp"nying Statement, preparea ii accordance with recognition and measurement principles laid down In the aforeiaia' tnaian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosedln'terms of tt-" r-istiri Regulations, including the manner in which it is to bi disclosed, or that it contains any materiaj misstatement.

Emphasis of Matter

We draw attention to note 5 of the Statement, which describes the management assessment of uncertainties related to Covid-I9 and its consequential impact including thi recoverability of its assets and operations of the Group. Our conclusion is not modified in reslpect of this matter.

• The accompanying Statement includes unaudited interim financial results and other unaudited financial information in respect of:
  • t One subsidiary, whose interim financial results and other financial information reflect total revenue of Nil, total net loss after tax of Rs. 1.54 lakhs and total comprehensive loss of Rs. 1.54 lakhs, for the quarter ended June 30,2020, considered in the Statement whose interim
  • financial results and other financial information have not been reviewed by its auditor, oTwo associates and two joint ventures, whose interim financial results includes the Group's share ofnet loss ofRs. 67.13 lakhs and Group's share oftotal comprehensive loss ofRs. 67.13 lakhs for the quarter ended June 3},2}2},considered in the Statement whose interim financial results and other financial information have not been reviewed by their respective auditors.

These unaudited interim financial results and other unaudited financial information have been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs ofthese subsidiary,joint ventures and associates, is based solely on such unaudited interim financial results and other unaudited financial information. On the basis of the information and explanations given to us by the Management, the said interim financial results are not material to the Croup.

Our conclusion on the Statement is not modified with respect to matter stated in para 7 above.

SRBC&COLLP Accountants

Firm Registration Numbe r : 324982E/E300003

/'

Lyesh Gandhi bership No.: 37924 20037924AAAAK23711 Mumbai August 11,2020 per