Centum Electronics Ltd — Annual Report 2023

May 27, 2023

Ref: CEL/NSEBSE/BM/27052023 27th May, 2023

To,

Listing Department	Department of Corporate Services -
National Stock Exchange of India Limited	Listing
Exchange Plaza,	BSE Limited,
Bandra Kurla Complex,	P. J. Towers,
Bandra (East),	Dalal Street,
Mumbai – 400 051	Mumbai – 400 001

Re: Scrip Symbol: CENTUM/ Scrip Code: 517544

Dear Sir/ Madam,

Sub: Outcome of the Board Meeting

This is in continuation to our communication letter dated 16th May, 2023 and pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a Meeting of the Board of Directors of the Company was held as scheduled today, i.e. 27th May, 2023 and the Board inter-alia took the following decisions:

1. Considered and approved the audited financial results (standalone and consolidated) for the fourth quarter and year ended 31st March, 2023 along with the Audit Report of the Statutory Auditors of the Company.

The financial results are enclosed pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

• 1. Recommended a final Dividend of Rs. 4 /- (i.e. 40%) per equity share of Rs.10/- each on the fully paid up equity share capital of the Company and which is subject to approval of Shareholders in the ensuing Annual General Meeting of the Company. The Dividend will be paid within 30 days from the date of Shareholders approval in the ensuing Annual General Meeting of the Company.
• 1. Accepted the resignation of Dr.Swarnalatha Mallavarapu (DIN: 00288771) from the position of Non-Executive Non-Independent Director of the Company from the close of business hours of 27th May, 2023.

The Board placed on record appreciation for the valuable inputs provided by Dr.Swarnalatha Mallavarapu, while on the Board of the Company.

1. Based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Ms.Tanya Mallavarapu (DIN: 01728446) as an Additional Director with effect from 27th May, 2023. The appointment is subject to approval of the shareholders of the Company.

The details as required for change in Directors under Regulation 30 of the Listing Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 is provided in Annexure-B attached to this letter.

• 1. Convening of 30th Annual General Meeting of the Members of the Company on Friday, 11th August, 2023.
• 1. The Company has fixed Wednesday, 2nd August, 2023 as the record date for determining entitlement of members to final dividend for the financial year ended 31st March, 2023.

The Meeting started at 11.45 A.M. and concluded at 07:33 P.M.

Kindly take the same on your records.

Yours faithfully, For Centum Electronics Limited

INDU H S Digitally signed by INDU H S Date: 2023.05.27 19:35:44 +05'30'

Indu H S Company Secretary & Compliance Officer

Encl: as above

Centum Electronics Limited

BSE LIMITED NATIONAL STOCK EXCHANGE OF INDIA LIMTED

May 27, 2023

Dear Sirs/ Madam,

Sub: Declaration pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended

DECLARATION

I, K S Desikan, Chief Financial Officer of Centum Electronics Limited (CIN: L85110KA1993PLC013869) having its Registered Office at KHB Industrial Area, 44, 1st Main Rd, Near Shintila Apartment, Yelahanka New Town, Bengaluru, Karnataka 560 106, hereby declare that, the Statutory Auditors of the Company, S.R. Batliboi & Associates LLP (FRN: 101049W/E300004) have issued an Audit Report with unmodified opinion on the annual Audited Financial Results of the Company (Standalone & Consolidated) for the year ended on March, 2023.

This Declaration is given in compliance to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended and Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016.

Request you to kindly take this declaration on your records.

Yours sincerely,

For Centum Electronics Limited

KARUNILAM SRINIVASAN DESIKAN Digitally signed by KARUNILAM SRINIVASAN DESIKAN Date: 2023.05.27 19:36:23 +05'30'

K S Desikan Chief Financial Officer

Centum Electronics Limited

Email: investors@centumelectronics.com Website : www.centumelectronics.com Statement of standalone Ind AS financial results for the quarter and year ended March 31, 2023 Year ended Quarter ended March 31, March 31, March 31, December 31, Sl. No. Particulars 2022 2022 2023 2023 Refer note 8 (Unaudited) Refer note 8 (Audited) 1 Income (a) Revenue from operations 1,948.58 1,024.64 1,201.36 4,993.53 (i) Sales/Income from operations 3.36 6.75 12.01 (ii) Other operating income 3.14 (b) Other income 7.84 (i) Gain on account of foreign exchange fluctuations (net) 7.78 8.17 13.05 31.42 (ii) Others 2.95 3.85 5.22 15.34 (c) Finance income 1,970.29 1,040.02 1,226.38 5,052.30 Total income 2 Expenses 1,001.20 672.96 553.22 3,157.25 (a) Cost of materials consumed 200.95 (10.93) 112.27 (b) Changes in inventories of work-in-progress and finished goods (1.15) 186.13 248.05 195.70 818.08 (c) Employee benefits expenses 40.15 (d) Finance costs 48.85 38.26 157.46 39.93 (e) Depreciation and amortisation expenses 41.26 40.21 162.34 15.62 2.29 61.62 (f) Loss on account of foreign exchange fluctuations (net) 98.73 103.02 432.92 (g) Other expenses 122.34 1,050.55 1,037.01 4,788.52 1,662.65 Total expenses Profit/ (loss) before exceptional items and tax (1-2) 307.64 (10.53) 189.37 263.78 -3 Exceptional items (refer note 6(b)) 189.37 307.64 (10.53) 263.78 Profit/ (loss) before tax $(3 \pm 4)$ 5 Tax expenses 6 54.99 117.93 (3.15) 118.74 (a) Current tax (6.94) (10.32) (b) Adjustment of tax relating to earlier period (c) Deferred tax charge / (credit) 1.98 (2.63) (38.63) (38.51) 143.95 193.99 228.22 (9.36) $\overline{7}$ Profit/ (loss) for the period $(5\pm 6)$ Other comprehensive income/(expenses) (net of tax) 8 (a) Items that will not be reclassified to profit or loss 6.27 0.36 8.03 7.35 (i) Re-measurements gains/ (losses) on defined benefit plans (2.33) (ii) Income tax effect on above (1.58) (0.09) (1.85) (b) Items that will be reclassed to profit or loss (i) Net movement effective portion of cash flow hedge (0.53) 0.55 0.25 0.02 (0.14) (0.07) (0.01) (ii) Income tax on above 0.13 149.83 199.50 9 Total comprehensive income for the period (comprising profit/ (loss) and other comprehensive 232.51 (8.68)
	(Rs. in Million)
	March 31,
	2022
	(Audited)
	3,466.88
	13.23
	30.30
	27.76 3,538.17
	2,063.34
	(30.59)
	681.67
	146.09 164.88
	6.24
	334.42
	3,366.05
	172.12
	(18.36)
	153.76
	55.00
	(9.38)
	(9.52)
	117.66
	9.11
	(2.63)
income/(expenses) (net of tax) for the period $(7\pm8)$ )	124.14
128.85 128.85 10 Paid up equity share capital 128.85 128.85	128.85
(Face value-Rs.10 per share)
Earnings per equity share (of Rs. 10 each): 11 $(a)$ Basic $(Rs.)$ 17.71 (0.73) 11.17 15.06	9.13
14.91 17.54 (0.73) 11.16 (b) Diluted (Rs.)	9.12

Notes to the standalone Ind AS financial results for the quarter and year ended March 31, 2023
	1. Statement of standalone assets and liabilities		(Rs. in millions)
S.No.	Particulars	March 31, 2023	March 31, 2022
		(Audited)	(Audited)
$\mathbf{I}$	Assets
(1)	Non-current assets
	(a) Property, plant and equipment	992.56	1,033.13
	(b) Capital work-in-progress (c) Goodwill	54.09	0.09
	(d) Other intangible assets	36.35	36.35
	(e) Right-of-use assets	29.11 35.42	42.17 29.07
	(f) Financial assets
	(i) Investments (refer note 6)	762.98	627.85
	(ii) Other financial assets	215.25	268.49
	(g) Deferred tax assets (net)	62.11	25.34
	(h) Non-current tax assets (net)	9.59	48.89
	(i) Other assets	21.46	9.00
	Total non-current assets	2,218.92	2,120.38
(2)	Current assets (a) Inventories
	(b) Financial assets	2,315.71	1,986.57
	(i) Trade receivables	2,094.87	897.57
	(ii) Cash and cash equivalents	137.59	149.19
	(iii) Bank balances other than cash and cash equivalents	69.25	93.67
	(iv) Other financial assets	15.99	51.61
	(c) Other assets	202.04	160.98
	Total current assets	4,835.45	3,339.59
	Total assets $(1+2)$	7,054.37
			5,459.97
$\mathbf{I}$	Equity and liabilities
(1)	Equity
	(a) Equity share capital (b) Other equity	128.85	128.85
	Total equity	2,697.58 2,826.43	2,516.38 2,645.23
(2)	Non-current liabilities
	(a) Financial liabilities
	(i) Lease liabilities	7.56	1.55
	(b) Govemment Grants	24.43	26.57
	(c) Net employee defined benefit liabilities	59.48	56.39
	(d) Other liabilties	167.39	77.30
	Total non- current liabilities	258.86	161.81
(3)	Current liabilities
	(a) Financial liabilities
	(i) Borrowings	1,059.22	979.45
	(ii) Lease Liabilities	6.48	11.80
	(iii) Trade payables
	Total outstanding dues of micro enterprises and small enterprises Total outstanding dues of creditors other than micro enterprises and small enterprises	60.59	51.90
	(iv) Other financial liabilities	1,464.26 166.98	674.33 84.48
	(b) Government grants	8.16	7.87
	(c) Other liabilities	1,024.76	781.34
	(d) Net employee defined benefit liabilities	7.08	6.48
	(e) Provisions	62.10	25.26
	(f) Liabilities for current tax (net)	109.45	30.02
	Total current liabilities	3,969.08	2,652.93
	Total equity and liabilities $(1+2+3)$	7,054.37	5,459.97

Ŷ.

$MN$ $MN$ or $\left(\frac{1}{100}\right)$ (Bangalore) $\frac{1}{100}$

Notes to the standalone Ind AS financial results for the quarter and year ended March 31, 2023
2. Statement of audited standalone cash flows		(Rs. in million)
	March 31, 2023	March 31, 2022
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit/ (loss) before tax	263.78	153.76
Non-cash adjustments to reconcile profit / (loss) before tax to net cash flows:
Depreciation and amortisation expenses	162.34	164.88
Provisions no longer required, written back	(12.86)	(4.02)
Fair value (gain) / loss on financial instruments	(0.02)	(0.15)
Net foreign exchange differences (unrealised)	(3.19)	6.34
(Gain)/loss on sale / discard of property, plant and equipment	(0.58)	0.92
Provision for expected credit loss / bad debts written off	27.31	5.08
Provision for inventory obsolescence	95.11	$\mathcal{L}$
Provision for onerous contract	15.41	×.
Government grants	(10.50)	(7.87)
Employee share based compensation cost	13.91	0.16
Finance income	(15.34)	(27.76)
Finance costs	130.66	112.18
Operating profit before working capital changes	666.06	403.52
Working capital adjustments:
(Increase) / decrease in inventories	(424.25)	(241.08)
(Increase) / decrease in trade receivables	(1, 213.38)	101.61
Decrease / (increase) in non current/ current financial assets and other assets	(6.50)	(17.11)
Increase / (decrease) in trade payables, non current/ current provisions, financial liabilities and other liabilities	1,188.96	531.18
Cash generated from / (used in) operations	210.89	778.12
Direct taxes paid (net of refunds)	3.03	(98.20)
Net cash flow from / (used in) operating activities	213.92	679.92
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment, including intangible assets and capital advances	(99.28)	(95.60)
Proceeds from sale of property, plant and equipment	0.63	3.56
Purchase of non-current investments	(135.13)
Proceeds from sale of non-current investments		9.32
Investment in bank deposits (having original maturity of more than three months) and other bank balances	68.80	6.75
Interest income received	23.19	17.53
Government grant received	8.65 (133.15)	(58.44)
Net cash flow (used in) / from investing activities
C. CASH FLOW FROM FINANCING ACTIVITIES
Repayment of long term borrowings		(195.21)
Payment of principal portion of lease liabilities	(13.45)	(20.47)
Payment of interest portion of lease liabilities	(1.78)	(2.33)
Proceeds / repayment of short term borrowings (net)	74.58	(223.50)
Finance costs paid	(119.63)	(110.35)
Dividend paid (including amount transferred to Investor Education & Protection Fund)	(32.49)	(25.53)
Net cash flow (used in) / from financing activities	(92.77)	(577.39)
Net (decrease) / increase in eash and cash equivalents $(A+B+C)$ $\bullet$	(12.00)	44.09
Cash and cash equivalents at the beginning of the year	149.19	104.53
Effect of exchange differences on cash and cash equivalents held in foreign currency	0.40	0.57
Cash and cash equivalents at the end of the year	137.59	149.19
Total cash and cash equivalents	137.59	149.19

Mr Affatoo

$\sim 10$

Notes to the standalone Ind AS financial results for the quarter and year ended March 31, 2023

• 3 Investors can view the audited standalone Ind AS financial results of Centum Electronics Limited ("the Company") on the Company's website www.centumelectronics.com or on the websites of BSE (www.bseindia.com) or NSE (www.nse-india.com).
• 4 The Company is an integrated business unit which addresses the Electronics System Design and Manufacturing ("ESDM") and accordingly there is only one reportable segment called ESDM in accordance with the requirement of Ind AS 108 - "Operating segments".
• 5 The accompanying standalone Ind AS financial results of the Company for the quarter and year ended March 31, 2023 have been reviewed by the Audit Committee in their meeting on May 26, 2023 and approved by the Board of Directors in their meeting held on May 27, 2023.
• 6 a) The Company has investments in Centum Electronics UK Limited, which in turn has made investment in Centum Adetel Group SA, Centum Adetel Group SA and its underlying subsidiaries have incurred losses

During the year ended March 31, 2023, the Board of Directors of Company further acquired 13.11% stake of Centum Adetel Group SA through Centum Electronics UK Limited from other shareholders of Centum Adetel Group SA. The carrying value of the aforesaid investment continues to be higher than the net worth of Centum Adetel Group SA.

However, based on internal assessment performed as at March 31, 2023 with regard to future operations and external valuation by an expert during the year ended March 31, 2022, the management of the Company is of the view that the carrying value of the Company's investment in Centum Electronics UK Limited is appropriate.

b) During the year ended March 31, 2020, Centum Adetel Group SA, a step down subsidiary entered into agreement for sale of 65% stake in HOLIWATT (formerly known as Centum Adetel Transportation SAS ("HOLIWATT")), subsidiary of Centum Adetel Group SA. Centum Adetel Group SA had a put option to sale its remaining 35% stake at a fixed price amounting to EUR 3.96 million plus interest at the rate of 6% p.a as per the aforesaid sale agreement and other receivables of EUR 0.5 million. Subsequent to the year ended March 31, 2021 the HOLIWATT has been placed in specific insolvency statutes, allowing it to commence negotiation with other parties including its shareholders. During the year ended March 31, 2022, the Commercial Court of Lyon announced the opening of judicial recovery procedures and accordingly, based on its internal assessment, the management of the Company had provided for its receivables amounting to Rs. 18.36 million and the same had been disclosed as exceptional items in the standalone Ind AS financial results for the year ended March 31, 2022.

• 7 The Board of Directors of the Company at their meeting held on May 27, 2023 have recommended a final dividend of Rs.4 per equity share of Rs.10/- each for the financial year ended March 31, 2023. The said final dividend is subject to approval of the shareholders at the ensuring Annual General Meeting of the Company.
• 8 The figures of the quarter ended March 31 of the current and previous years in the standalone Ind AS financial results are the balancing figures between the audited figures in respect of the full financial years and the unaudited published year to date figures for the nine months ended December 31 for the respective years, being the date of the end of the third quarter of the financial year which were subject to limited review.
• 9 For the periods the Company has incurred losses, the allotment of stock options would increase the loss per share for the respective periods and accordingly has not been considered for the purpose of calculation of diluted earnings per share from operations.

10 Figures pertaining to previous quarters / period / year have been reclassified, wherever necessary, to conform to the classification adopted in the current period.

$8. As_{S_0}$ Bengaluru ä

Place: Bengaluru Date: May 27, 2023

For Centum Electronics Limited ECT Bangalore Apparad V Mallavarapu Chairman and Managing Director $\star$

Chartered Accountants

12th F oar ·us City" Canberra Block No. 24, V1ttal Mallya Road Benqaluru - 560 001, India Tri +91 80 6648 9000

Independent Auditor's Report on the Quarterly and Year to Date Audited Ind AS 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 Centum Electronics Limited

Report on the audit of the Standalone Ind AS Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone Ind AS financial results of Centum Electronics Limited (the ''Company") for the quarter ended March 31, 2023 and for the year ended March 3 1, 2023 ('·Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regul ation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regul ations, 201 5, 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:

• 1. is presented in accordance with the requirements of the Listing Regul ations in this regard; and
• 1. 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 and other comprehensive income and other financial information of the Company for the quarter ended March 31 , 2023 and fo r the year ended March 3 I, 2023.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143( I 0) of the Compani es Act, 201 3, as amended ("the Act"). Our responsibilities under those Standards are further described in the '·Auditor's Responsibilities for the Aud it of the Standalone Ind AS Financ ial Results" section of our report. We are independent of the Company in accordance with the Code of Ethi cs issued by the Institute of Chartered Accountants of India together with the ethical requirements that are re levant to our audit of the standalone financ ial statements under the provisions of the Act and the Rules thereunder, and we have fulfill ed our other ethical responsibilities in accordance with these req uirements and the Code of Ethi cs. We bel ieve that the audit evidence obtai ned by us is sufficient and appropriate to provide a basis fo r our opinion.

Management's Responsibilities for the Standalone Ind AS 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 Ind ia and in compliance with Regulatio n 33 of the Listing Regulations. This responsibility also inc ludes 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; maki ng judgments and estimates thaf ar ~ onable and prudent; and the design, implementation and maintenance of adequate

S.R. BATl./801 & ASSOCIATES LLP

Chartered Accountants

internal financial controls. that were operating effectively for ensuring the accuracy and completeness of the accounti ng 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.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, d isc losing, 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 Ind AS Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whol e 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 a lso:

• 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 resulti ng 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. Ifwe 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 disc losures 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 go ing 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 fa ir 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 sign ificant defici encies in internal control that we identify during our audit.

We a lso provide those charged with governance with a statement that we have complied with relevant ethi cal requirements regarding independence, and to communicate with them all relationships and other

S.R. BATLIBOI & A SSOCIATES LLP

Chartered Accountant s

matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

The Statement includes the results for the quarter ended March 31, 2023 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2023 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 & Associates LLP Chartered Accountants !CAI Finn Registration Number: 101049W/E300004

~~Partner

Membership No .: 061207

UDIN: 230612078GYKVE8344

Place of Signature: Bengaluru Date: May 27, 2023

~

	Centum Electronics Limited Corporate Identity Number (CIN): L85110KA1993PLC013869 Regd. Office: No.44, KHB Industrial Area, Yelahanka New Town, Bengaluru - 560 106 Phone: +91-80-41436000 Fax: +91-80-41436005
	Email: investors@centumelectronics.com Website : www.centumelectronics.com Statement of consolidated Ind AS financial results for the quarter and year ended March 31, 2023
						(Rs. in million)
			Quarter ended December 31,			Year ended
SI.No.	Particulars	March 31, 2023	2022	March 31, 2022	March 31, 2023	March 31, 2022
	1 Income	Refer Note 9	(Unaudited)	Refer Note 9	(Audited)	(Audited)
	(a) Revenue from operations
	(i) Sale of products and services	3,050.17	1,892.88	2,212.37	8,841.96	7,333.76
	(ii) Other operating income	112.55	78.26	118.67	387.73	465.64
	(b) Other income
	(i) Gain on account of foreign exchange fluctuations (net)			4.58		3.49
	(ii) Others	8.27	7.06	14.44	37.25	43.56
	(c) Finance income	6.00	5.24	7.19	21.28	33.19
	Total Income	3,176.99	1,983.44	2,357.25	9,288.22	7,879.64
$\mathbf{z}$
	Expenses (a) Cost of materials consumed	1,261.03
	(b) (Increase) / decrease in inventories of work-in-progress and finished goods	234.21	887.81 (38.21)	797.01 101.75	4,146.60 5.29	3,065.02
	(c) Employee benefit expenses	939.61	819.82	857.28	3,327.22	(45.44) 3,199.02
	(d) Finance costs	80.73	67.37	74.04	273.44	263.48
	(e) Depreciation and amortisation expenses	109.74	110.15	92.95	438.26	431.93
	(f) Loss on account of foreign exchange fluctuations (net)	4.99	47.26		106.61
	(g) Other expenses	221.05	191.22	254.47	881.88	838.37
	Total expenses	2,851.36	2,085.42	2,177.50	9,179.30	7,752.38
з	Share of profit / (loss) of associates from operations	12.44		(45.74)	12.44	(45.74)
4	Profit / (loss) before exceptional items and tax expense from operations $(1+2+3)$	338.07	(101.98)	134.01	121.36	81.52
5	Exceptional items (refer note 7 and 8)			(157.03)		(603.54)
	6 Profit/ (loss) before tax expense from operations (4+5)	338.07	(101.98)	(23.02)	121.36	(522.02)
	7 Tax expenses
	(a) Current tax (net)	125.70	(3.16)	56.53	126.51	57.48
	(b) Adjustment of tax relation to earlier period			(6.94)	(10.32)	(11.04)
	(c) Deferred tax (credit) / expense	(45.56)	(2.14)	(8.91)	(61.77)	(33.81)
8	Profit/ (loss) after tax expense from operations (6±7)	257.93	(96.68)	(63.70)	66.94	(534.65)
9	Other comprehensive income/ (expenses) (net of tax) (a) Items that will not be reclassified to profit or loss
	(i) Remeasurement gain / (losses) on defined benefit plans	6.69	0.36	8.86	7.77	10.00
	(ii) Income tax effect	(1.69)	(0.09)	(2.30)	(1.96)	(2.63)
	(b) Items that will be reclassified to profit or loss (i) Exchange difference on translation of foreign operations	(0.67)	(33.73)	0.85	1.24	16.85
	(ii) Income tax effect
	(iii) Net movement on effective portion of cash flow hedge	(0.53)	0.55	0.26	0.02
	(iv) Income tax effect	0.13	(0.14)	(0.07)	(0.01)
10	Total comprehensive income for the period (comprising profit / (loss) and other comprehensive income/(expenses)(net of tax)) for the period (8±9)	261.86	(129.73)	(56.10)	74.00	(510.43)
11	Total comprehensive income attributable to:
	(a) Owners of the Company	258.81	(104.03)	15.27	106.60	(285.54)
	(b) Non-controlling interest	3.05	(25.70)	(71.37)	(32.60)	(224.89)
	Total comprehensive income for the period	261.86	(129.73)	(56.10)	74.00	(510.43)
12	Paid up equity share capital (Face value - Rs 10 per share) 13 Earnings per equity share (EPS) (of Rs. 10 each) :	128.85	128.85	128.85	128.85	128.85
	(a) Basic (Rs.) (b) Diluted (Rs.)	19.80 19.61	(5.92) (5.92)	0.69 0.69	7.62 7.55	(23.70) (23.70)

MY Affrace Education

Notes to the consolidated Ind AS financial results for the quarter and year ended March 31, 2023
1. Statement of consolidated assets and liabilities (Rs. in million)
SI.No.	Particulars	As at March 31, 2023	As at March 31, 2022
A	Assets	(Audited)	(Audited)
	(1) Non-current assets
	(a) Property, plant and equipment	1,071.27	1,119.54
	(b) Capital work-in-progress	54.09	0.09
	(c) Goodwill on consolidation (refer note 6)	376.23	376.23
	(d) Other intangible assets (refer note 6)	286.20	416.42
	(e) Intangible assets under development (refer note 6)	227.56	120.14
	(f) Right-of-use assets	464.74	481.07
	(g) Financial assets
	(i) Investment in associates (refer note 7)	82.47	59.15
	(ii) Other Investments	13.81	13.78
	(iii) Trade receivables	286.83	269.12
	(iv) Other financial assets	321.56	378.36
	(h) Deferred tax assets (net)	69.68 9.58	31.58
	(i) Non-current tax assets (net) (j) Other assets	54.89	48.89 41.84
	Total non-current assets	3,318.91	3,356.21
	(2) Current assets
	(a) Inventories	2,610.62	2,248.25
	(b) Financial assets
	(i) Trade receivables	3,828.44	2,499.02
	(ii) Cash and cash equivalents	352.71	480.44
	(iii) Bank balances other than cash and cash equivalents	69.25	93.66
	(iv) Other financial assets	162.26	226.21
	(c) Other assets	384.79	325.82
	Total current assets	7,408.07	5,873.40
	Total assets (1+2)	10,726.98	9,229.61
B	Equity and liabilities
	Equity
	(a) Equity share capital	128.85	128.85
	(b) Other equity	1,978.32	1,910.83
	Equity attributable to equity holders of the parent	2,107.17	2,039.68
	Non-controlling interests	(66.60)	(54.48)
	$(1)$ Total equity	2,040.57	1,985.20
	Liabilities
	(2) Non-current liabilities (a) Financial liabilities
	(i) Borrowings	579.62	815.74
	(ii) Lease liabilities	361.58	355.54
	(b) Deferred tax liabilities (net)	27.12	48.82
	(c) Other liabilities	167.39	77.30
	(d) Net employee defined benefit liabilities	61.81	58.28
	(e) Provisions	23.67	70.35
	(f) Government grants	24.43	26.57
	Total non-current liabilities	1,245.62	1,452.60
	(3) Current liabilities
	(a) Financial liabilities
	(i) Borrowings	2,047.99	1,910.25
	(ii) Lease liabilities (iii) Trade payables	91.79 2,109.71	120.03 1,140.83
	(iv) Other financial liabilities	517.04	598.56
	(b) Other liabilities	2,254.99	1,701.28
	(c) Government grants	8.16	7.87
	(d) Net employee defined benefit liabilities	7.39	6.51
	(e) Provisions	287.08	274.59
	(f) Liabilities for current tax (net)	116.64	31.89
	Total current liabilities	7,440.79	5,791.81
	Total equity and liabilities (1+2+3)	10,726.98	9,229.61

$As₅$ (Bengaluru)

$MN$

Notes of consolidated Ind AS financial results for the quarter and year ended March 31, 2023 2. Consolidated statement of cash flows for the year ended March 31, 2023

2. Consolidated statement of cash flows for the year ended March 31, 2023 ٦		(Rs. in million)
	March 31, 2023	March 31, 2022
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit / (loss) before tax expenses	121.36	(522.02)
Adjustments to reconcile profit / (loss) before tax to net cash flows:
Depreciation and amortisation expenses	438.26	431.93
Provisions no longer required, written back	(20.87)	(28.90)
Fair value (gain)/ loss on financial instruments	(0.02)	(0.15)
Net foreign exchange differences (unrealised)	15.55	5.24
Provision for expected credit losses / bad debts written off	44.33	83.81
Employee share based compensation cost	13.91	0.16
Provision for inventory obsolescence	95.11	$\omega$
Provision for onerous contract	15.41
Government grants	(10.50)	(7.87)
Provision for dimunition in the value of investment/receivables		372.77
Profit / (loss) on sale of property, plant and equipment	(0.58)	0.92
Provision for dimunition in the value of loans		6.06
Provision for settlement of claims		132.22
Provision for impairment of unbilled revenue		34.48
Finance income	(21.28)	(33.19)
Finance costs	246.65	229.57
Share of (profit) / loss of associate	(12.44)	45.74
Operating profit / (loss) before working capital changes	924.87	750.77
Working capital adjustments:
(Increase) / decrease in inventories	(443.21)	(310.80)
(Increase) / decrease in trade receivables/non-current/current financial and other assets	(1,216.31)	184.48
Decrease / (increase) in trade payables, non-current/current provisions, financial liabilities and other liabilities	1,435.09	514.39
Cash generated from / (used in) operations	700.43	1,138.84
Direct taxes paid (net of refunds)	0.56	(103.97)
Net cash from / (used in) operating activities	700.99	1,034.87
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment, including intangible assets and capital advances	(217.56)	(187.53)
Proceeds from sale of property, plant and equipment	0.63	3.56
Settlement of put option obligation	(135.13)
Proceeds from sale of investments		9.31
Investment in bank deposit (having original maturity of more than three months) and other bank balances	72.18	6.28
Interest received	23.61	19.06
Government grant received	8.65
Net cash (used in) / from investing activities	(247.63)	(149.32)
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds / repayment of long term borrowings (net)	(298.77)	(219.53)
Proceeds / repayment of short term borrowings (net)	95.07	(204.97)
Payment of principal portion of lease liabilities	(126.80)	(133.85)
Payment of interest portion of lease liabilities	(9.86)	(10.04)
Finance costs paid	(223.29)	(217.87)
Dividend paid (including amount transferred to Investor Education and Protection Fund)	(32.49)	(25.53)
Net cash (used in) / from financing activities	(596.14)	(811.79)
Net (decrease)/increase in cash and cash equivalents (A+B+C)	(142.78)	73.76
Cash and cash equivalents at the beginning of the year	480.44	411.48
Effect of exchange differences on cash and cash equivalents held in foreign currency	15.05	(4.79)
Cash and cash equivalents at the end of the year	352.71	480.44
Total cash and cash equivalents	352.71	480.44

Mrs Affa Reo

$\widetilde{\mathbf{x}}$

Notes to the consolidated Ind AS financial results for the quarter and year ended March 31, 2023

• . . 3 Investors can view the consolidated Ind AS financial results of Centum Electronics Limited ("the Group" or "the Company") on the Company's website www.centumelectronics.com or on the websites of SSE (www.bseindia.com) or NSE (www.nse-india.com).
• 4 The Company along with its subsidiaries and associates are an integrated business unit which addresses the Electronics System Design and Manufacturing ("ESDM ") and accordingly there is only one reportable segment called ESDM in accordance with the requirement of Ind AS 108 - "Operating segments".
• 5 The consolidated Ind AS financial results of the Group for the quarter and year ended March 31, 2023 have been reviewed by the Audit Committee in their meeting on May 26, 2023 and approved by the Board of Directors in their meeting held on May 27, 2023.
• 6 The Company has investments in Centum Electronics UK Limited, which in turn has made investment in Centum Adetel Group SA. Centum Adetel Group SA and its underlying subsidiaries have incurred losses. During the year ended March 31, 2023, the Board of Directors of the Holding Company further acquired 13.11 % stake of Centum Adetel Group SA., through Centum Electronics UK Limited from other shareholders of Centum Adetel Group SA and has a stake of 77. 77% as at March 31, 2023. The carrying value of the aforesaid investment continues to be higher than the net worth of Cent um Adetel Group SA

The Group has accounted a goodwill of Rs. 376.23 million and has a carrying value of other intangible assets (including intangible assets under development) of Rs. 44 7.66 million as at March 31 , 2023.

Based on internal assessment performed as at March 31, 2023 with regard to future operations and external valuation by an expert during the year ended March 31, 2022, the management of the Group is of the view that the carrying value of the aforesaid goodwill on consolidation/ intangible assets (including intangible assets under development) are appropriate.

7 During the year ended March 31, 2020, the management of the Group had entered into an agreement for sale of 65% stake in HOLIWATI ( formerly known as Centum Adetel Transportation SAS ("HOLIWATI")), subsidiary of Centum Adetel Group SA.

The management of the Group had a put option to sale its remaining 35% stake at a fixed price amounting to EUR 3.96 million plus interest at the rate of 6% p.a and other receivables of EUR 0.5 million . Further, the management had assessed that they exercised significant influence/ control over HOLIWATI and has accordingly treated the same as investment in associates in the consolidated Ind AS financial results of the Group during the year ended March 31, 2021.

During the quarter ended June 30, 2021, HOLi WA TI had been placed in specific insolvency statutes, allowing HOLIWATI to commence negotiation wit h other parties including its shareholders. During the year ended March 31, 2022, the Commercial Court of Lyon announced the opening of judicial recovery process and accordingly based on the internal assessment, the management of the Group has provided the carrying value of its investment and receivables in HOLIWATI amounting to Rs. 436.84 million and the same had been disclosed as exceptional item in the consolidated Ind AS financial results for the year ended March 31, 2022.

During the year ended March 31, 2022, the Group had accounted Rs. 25.97 million in regard to the commission to the recruited bankers for the sale of HOLIWATI shares and the same had been disclosed as exceptional item in the consolidated Ind AS financial results for the year ended March 31, 2022.

8 During the year ended March 31, 2022, the Group had been levied a claim by one of its customers on account of certain damages in the equipment supplied to the customer. Accordingly, the Group had accounted cost of Rs. 106.25 million towards such claim which has been disclosed as exceptional item in the consolidated Ind AS financial results during the year ended March 31, 2022.

Further the Group had made provision for aged unbilled revenue in relation to certain projects amounting to Rs. 34.48 million which had been disclosed as exceptional item in the consolidated Ind AS financial results during the year ended March 31, 2022.

• 9 The figures for the quarter ended March 31 of the current and previous years in the consolidated Ind AS financial results are the balancing figures between the audited figures in respect of full financial years and the unaudited published year to date figures for the nine months ended December 31 for the respective years, being the date of the end of the third quarter of the financial year which were subject to limited review.
• 10 The Board of Directors of the Company at their meeting held on May 27, 2023 have recommended a final dividend of Rs. 4 per equity share of Rs.10/- each for the financial year ended March 31, 2023. The said final dividend is subject to approval of the shareholders at the ensuring Annual General Meeting of the Company.
• 11 For the year/ periods the Group has incurred losses, the a!lotment of stock options would increase the loss per share for the respective year/ periods and accordingly has not been considered for the purpose of calculation of diluted earnings per share from operations.
• 12 Figures pertaining to previous quarters/ period/ year have been reclassified, wherever necessary, to conform to the classification adopted in the current period.

Place : Bengaluru Date: May 27, 2023

For Centum Elect: on~2d l - p parao VMalla~ ,~ Chairman and Managing Director

S.R. BATLIBOI & ASSOCIATES LLP 12th Floor

Chartered Accountants

"UB City" Canberra Block No. 24. Vittal Mallya Road Bengaluru · 560 001. India Tel . +91 80 6648 9000

Independent Auditor's Report on the Quarterly and Year to Date Consolidated 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 Centum Electronics Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financia l resu lts of Centum Electronics Limited ("'Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and its associate for the quarter ended March 3 1, 2023 and for the year ended March 3 1, 2023 ("'Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 15, as amended ("Listing Regulations'')

In our opin ion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements/ financial results/fi nancial information of the subsidiaries/ associate, the Statement:

• 1. includes the results of the following entities
• a. Centum Electronics Limited
• b. Centum Electronics UK Limited
• c. Centum Adetel Group SA
• d. Centum T &S (Technologies and Solutions) SAS (formerly known as Centum Adeneo SAS)
• e. Centum R&D (Recherche & development) (formerly known as Centum Adeneo CRD SAS)
• f. Centum Adetel Transportation System SAS
• g. Centum T&S (Technologies and Solutions) Quebec Inc (formerly known as Centum Adetel Solution)
• h. Centum E&S (Equipements & Systemes) Quebec Inc (formerly known as Centum Adetel Eq uipment)
• 1. Centum T&S (Technologies & Solutions) Belgium SRL (formerly known as Centum Adetel Belgium)
• .I· Centum T&S Private Limited (formerly known as Centum Adeneo India Private Limited)
• k. Ausar Energy SAS
• 1. are presented in accordance with the requirements of the Listing Regulations in this regard; and
• 1. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles genera lly accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the quarter ended March 3 1, 2023 and for the year ended March 31 , 2023.

S.R. BATL/801 & ASSOCIATES LLP

Chartered Accountants

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under Section 143( I 0) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are fu1ther described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results'' section of our report. We are independent of the Group and its associate 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 and other auditors in terms of their repo1ts referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual fin ancial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group including its associate in accordance with the applicable accounting standards prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles genera lly accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respecti ve Board of Directors of the compani es included in the Group and of its associ ate and are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associate 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 fi nanci al controls, that were operating effective ly fo r 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 fra ud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the compan ies inc luded in the Group and of its associate are responsible for assessi ng the abil ity of Group and of its assoc iate to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and of its associate are also responsible for overseeing the financial reporting process of the Group and of its associate.

Auditor's Responsibilities for the Audit of the Consolidated 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 reasonab ly be expected to influence the economic decisions of users taken on the basis of the Statement.

S.R. BATL/80/ & ASSOCIATES LLP

Chartered Accountants

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 I 43(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 disc losures made by the Board of Directors.
• Conclude on the appropri ateness 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 ability of the Group and its associate 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 disc losures in the Statement or, if such disc losures are inadequate, to modify our opinion. Our concl usions are based on the audit ev idence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associate 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 represent the underlying transactions and events in a manner that achi eves fair presentation.
• Obtain sufficient appropriate audit ev idence regarding the consolidated financial results/financial information of the entities within the Group and its associate of whi ch we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, wh ich have been audited by other auditors, such other auditors remai n responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsibl e for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors 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 regard ing independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where appl icable, related safeguards.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD 1/44/2019 dated March 29, 2019 issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

S.R. BATLIBOI & A SSOCIATES LLP

Chartered Account ants

Other Matter

The accompanying Statement includes the audited financial statements and other financial information, in respect of 2 subsidiaries located outside India (one of the said subsidiary has 6 underlying subsidiaries and I associate), whose financial statements include total assets of Rs 4,906.65 million as at March 31 , 2023, total revenues of Rs I, 120.82 million and Rs 4,204.14 million, total net profit after tax of Rs. 57.89 million and total net loss after tax of Rs. 97.27 million, total comprehensive income of Rs. 72.96 million and total comprehensive loss of Rs. 45.88 million, for the quaiter and the year ended on March 31, 2023, and net cash outflows of Rs. 113.93 million for the year ended March 3 1, 2023 (before adjustments for consolidation), as considered in the Statement which have been audited by their respective independent auditors.

The independent auditor's repo1t on the financial statements /financial information of these entities have been furnished to us by the Management and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associate is based solely on the repo1ts of such auditors and the procedures performed by us as stated in paragraph above.

These subsidiaries and associate are located outside India whose financial statements and other financial information have been prepared in accordance with the accounting principles generalJy ·accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company's management has converted the financial statements of such subsidiaries and associate located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Holding Company's management. Our opinion in so far as it relates to the balances and affa irs of such subsidiaries and associate located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Holding Company and audited by us.

Our opinion on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the repo1ts of the other auditors.

The Statement includes the results for the quaiter ended March 3 I, 2023 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2022 and the published unaudited year-to-date figures up to the end of the third qua1ter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm Registration Number: 101049W/E300004

per San deep arnan 1 Partner Membership No.: 061207

UDIN: 23061207BGYKVF3193 Place of Signature: Bengaluru Date: May 27, 2023

Annexure - A

Brief Profile

Tanya Mallavarapu

Tanya is the founder of TMR Design Co. LLP an interdisciplinary design firm that emphasises on innovation, creativity and functionality in a wide array of industries from healthcare, residential, commercial and hospitality. Prior to this Tanya served as a marketing executive in the luxury retail industry, involved in building marketing strategies for global retail expansion. She launched an Indian based luxury brand across cities including New York, Hong Kong, London and Delhi. Prior to this she worked as a business analyst at Intuit creating revenue models and marketing strategies to launch the newly developed GoPayment product.

Tanya completed her Master's Degree in Economics from Duke University, in U.S. She graduated from the University of Southern California with a Bachelor's Degree in Business Administration and was on the Dean's List.

Tanya is the daughter of Mr.Apparao Mallavarapu, Chairman and Mangaing Director of Centum Electronics Limited and Dr.Swarnalatha Mallavarapu.

Tanya is the sister of Mr.Nikhil Mallavarapu, Executive Director, Centum Electronics Limited.

Tanya is married and lives with her husband in Chennai and has a daughter.

Annexure - B

Details under Regulation 30 of the SEBI Listing Regulations, 2015 read along with SEBI Circular CIR/CFD/CMD/4/2015 dated September 09, 2015:

Sl	Detail of Events that need to	Information of such event(s)
No.	be provided	Dr.Swarnalatha Mallavarapu		Ms.Tanya Mallavarapu
1	Reason for change viz.	Resignation		Appointment
2	appointment, resignation. Date of appointment/cessation (as applicable) & term of appointment;	Resigned from the Directorship of the Company effective close of business hours of May 27th, 2023.		Additional Director of the Company with effect from May 27th, 2023 subject to approval of the shareholders of the Company.
3	Brief profile (in case of appointment);	Not applicable		Enclosed as above
4	Disclosure of relationships between directors (in case of appointment of a director)	Not Applicable		Ms.Tanya is the daughter of Mr.Apparao Mallavarapu and Dr.Swarnalatha Mallavarapu. Ms.Tanya is the sister of Mr.Nikhil Mallavarapu
5	Information as required pursuant to BSE circular ref no. LIST/ COMP/ 14/ 2018- 19 and the National Stock Exchange of India Limited with ref no. NSE/CML/2018/24, dated June 20, 2018	Not Applicable		Not debarred from holding the office of director pursuant to any SEBI order or any such authority
6	Names of listed entities in which the resigning director holds directorships,	Name of the Company &	Committee positions held

Centum Electronics Limited

indicating the category of directorship and	category of Directorshi
membership	p
of board committees, if any	Centum	Member of
	Electronics	Stakeholders
	Limited	Relationship
		Committee
		Member of
		Corporate
		Social
		Responsibilit
		y Committee

Centum Electronics Limited