Centum Electronics Ltd — Annual Report 2019

May 29, 2019

Ref: CEL/NSEBSE/BMD/29052019 29th May, 2019

To,

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

Re: Scrip Symbol: CENTUM/ Scrip Code: 517544

Dear Sir/ Madam,

Sub: Outcome of the Board Meeting

This is in continuation to our communication letters dated 21st May, 2019 and pursuant to 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. 29th May, 2019 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, 2019 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. Pursuant to Regulation 33(3) (d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, we hereby declare that the Audit Reports issued by the M/s S.R. Batliboi & Associates LLP, (Firm Registration No. 101049W/E300004) Statutory Auditors of the Company on the audited standalone & consolidated financial statements of the Company for the financial year ended 31st March, 2019 are with unmodified opinion (i.e. unqualified opinion).
• 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. Based on the recommendation of Nomination and Remuneration Committee, approved the reappointment of Mr. Pranav Kumar N Patel (DIN: 06784801) as an Independent Director of the Company for a second term of 5 years which is subject to approval of Shareholders in the ensuing Annual General Meeting of the Company.
• 1. Based on the recommendation of Nomination and Remuneration Committee, approved the reappointment of Mr. S. Krishnan (DIN: 01807344) as an Independent Director of the Company for a second term of 5 years which is subject to approval of Shareholders in the ensuing Annual General Meeting of the Company.
• 1. Based on the recommendation of Nomination and Remuneration Committee, approved the allotment of 3,723 equity shares to those employees who have exercised their Options for equity shares under the Centum Employees Stock Option Plan 2013.

The paid up equity share capital of the Company has increased from Rs. 12,88,10,580/‐ to Rs.12,88,47,810/‐ due to the aforesaid allotment.

The Meeting started at 11.15 a.m. and concluded at 8.30 p.m.

The above information is also hosted on the website of the Company at www.centumelectronics.com

Kindly take the same on your records.

Yours faithfully, For Centum Electronics Limited Nagaraj K V NAGARAJ K V Digitally signed by NAGARAJ K V Date: 2019.05.29 20:37:14 +05'30'

Company Secretary & Compliance Officer

Encl: as above

SR. BATUROL& ASSOCIATES LLP Chartered Accountants

12th Floor "UB City" Canberra Block No. 24, Vittal Maliya Road Bengaluru - 560 001, India Tel: +91 80 6648 9000

Auditor's Report On Quarterly Consolidated Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

T0 Board of Directors of Centum Electronics Limited.

• 1. We have audited the accompanying statement of quarterly consolidated Ind AS financial results of Centum Electronics Limited ('the Company') comprising its subsidiaries (together 'the Group'), its associates and joint ventures for the quarter ended March 31, 2019 and the consolidated Ind AS financial results for the year ended March 31, 2019 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulation'), read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5. 2016 ('the Circular'). The consolidated Ind AS financial results for the quarter ended March 31, 2019 and vear ended March 31, 2019 have been prepared on the basis of the consolidated Ind AS financial results for the nine-month period ended December 31, 2019, the audited annual consolidated Ind AS financial statements as at and for the year ended March 31, 2019, and the relevant requirements of the Regulation and the Circular, which are the responsibility of the Company's management and have been approved by the Board of Directors of the Company. Our responsibility is to express an opinion on these consolidated Ind AS financial results based on our review of the consolidated Ind AS financial results for the nine-month period ended December 31, 2019 which was prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting, specified under Section 133 of the Companies Act 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India; our audit of the annual consolidated Ind AS financial statements as at and for the year ended March 31, 2019; and the relevant requirements of the Regulation and the Circular.
• 1. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial results are free of material misstatement(s). An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.
• 1. In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of other auditors on separate financial statements and the other financial information of subsidiaries / associates / joint ventures, these quarterly consolidated Ind AS financial results as well as the year to date results:
  • includes the results of the following entities: $\mathbf{i}$ .
    • a. Centum Electronics Limited
    • b. Centum Electronics UK Limited
    • c. Centum Adetel Group SA
    • d. Centum Rakon India Private Limited
    • e. Centum Adeneo SAS
    • f. Centum Adeneo CRD SAS
    • g. Centum Adetel Transportation System SAS
    • h. Centum Adetel Transportation SAS
    • i. Centum Adetel Synergies SARL
    • Centum Adetel Solution i.

Chartered Accountants

• k. Centum Adetel Equipment
• 1. Adetel Maroc SA
• m. Adetel Equipment Maroc SA
• n. Centum Adeneo India Private Limited
• o. Sandhi SAS
• p. Ausar Energy SAS
• are presented in accordance with the requirements of the Regulation read with the Circular, $ii$ in this regard; and
• give a true and fair view of the consolidated net profit including other comprehensive iii. income and other financial information for the quarter ended March 31, 2019 and for the year ended March 31, 2019.
• We did not audit the financial results and other financial information, in respect of 1 subsidiaries located outside India (one of the said subsidiary has 9 subsidiaries and 1 joint venture), whose Ind AS financial results include total assets of Rs 56,054.22 Lakhs as at March 31, 2019 (before adjustments for consolidation), and total revenues (including other income) of Rs 12,012.86 Lakhs and Rs 43,743.65 Lakhs for the quarter and the year ended on that date respectively (before adjustments for consolidation). These Ind AS financial results and other financial information have been audited by other auditors, which financial results, other financial information and auditor's reports have been furnished to us by the management. Our opinion, in so far as it relates to the affairs of such subsidiaries, joint venture and associate is based solely on the report of other auditors.

These subsidiaries/associates and joint ventures are located outside India whose financial results/statements and other financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Company's management has converted the financial statements of such subsidiaries/associates and joint ventures located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. Our opinion in so far as it relates to the balances and affairs of such subsidiaries/associates and joint ventures located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Company.

1. The accompanying consolidated Ind AS financial results include unaudited financial results and other unaudited financial information in respect of 2 subsidiary, whose financial results and other financial information reflect total assets of Rs 5,247.55 Lakhs as at March 31, 2019 (before adjustments for consolidation) and total revenues (including other income) of Rs 212.31 Lakhs and Rs 595.88 Lakhs for the quarter and the year ended on that date respectively (before adjustments for consolidation). These unaudited financial results and other unaudited financial information have been furnished to us by the management. The consolidated Ind AS financial results also include the Group's share of net loss of Rs. 130.78 Lakhs and Rs 101.76 Lakhs for the quarter and for the year ended March 31, 2019 respectively, as considered in the consolidated Ind AS financial results, in respect of a joint venture (consolidated for the period April 1, 2018 to April 30, 2018) and a associate (consolidated for the period ended December 31, 2018), whose financial results and other financial information have not been audited and whose unaudited financial statements, other unaudited financial information have been furnished to us by the management. Our opinion, in so far as it relates to the affairs of these subsidiaries, joint ventures, is based solely on such unaudited financial statement and other unaudited financial information. In our opinion and according to the information and explanations given to us by the Management, these financial results and other financial information are not material to the Group. Our opinion is not qualified in respect of this matter.

Chartered Accountants

1. Further, read with paragraph 1 above, we report that the figures for the quarter ended March 31, 2019 represent the derived figures between the audited figures in respect of the financial year ended March 31, 2019 and the published year-to-date figures up to December 31, 2018, being the date of the end of the third quarter of the current financial year, which were subjected to a limited review as stated in paragraph 1 above, as required under the Regulation and the Circular.

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

Dodop Laran

Partner Membership Number: 061207

Place: Bengaluru Date: May 29, 2019

	Centum Electronics LimitedCorpcrate Identity Number (C!N): L85110KA1993PLC013869Regd. Office: No.44, KHB Industrial Area, Yelahanka New Town, Bengaluru - 560 106Phone: +91-80-41436000 Fax: +91-80-41436005Email: investors@cent.umclectronics.com Website : www.centumelectronics.com
	Statement of consolidated financial results for the quarter and year ended March 31, 2019
			Quarter ended		Year ended	(Rs. in Lakhs)
		March 31,	December 31,	March 31,	March 31,	March 31,
Sl.No.	Patticulars	2019	2018	2018	2019	2018
		(Refer note 7)	(Unaudited)	(Refer note 7)	(Audited)	(Audited)
	A. Continuing Operations
	1 Income
	(a) Revenue from operations(i) Sales / Income from operations
	(ii) Other operating income	25,283.851,950.31	25,056.32	19,403.31	86,204.12	72,762.89
	(b) Other income		1,972.70	1,637.38	6,549.61	5,343.10
	(i) Gain on account of foreign exchange fluctuations (net)	401.76	783.36
	(ii) Others	232.53	224.77	763.80	991.87	1,307.48
	Total Income	27,868.45	28,037.15	21,804.49	93,745.60	79,413.47
$\overline{c}$	Expenses
	(a) Cost of materials consumed	10,015.70	9,652.51	8,644.04	38,255.68	34,161.95
	(b) Excise duty expenses					335.66
	(c) Changes in inventories of finished goods and work-in-progress	2,262.44	1,709.95	192.21	120.58	(817.94)
	(d) Employee benefits expenses	8,302.01	8,336.32	8,001.36	32,848.27	29,050.47
	(e) Finance costs	779.44	1,096.17	869.91	3,492.11	2,179.74
	(f) Depreciation and amortisation expenses	646.12	745.56	547.71	2,783.86	2,819.03
	(g) Loss on account of foreign exchange fluctuations (net)(h) Other expenses			178.05	336.10	220.08
	Total expenses	2,936.4424,942.15	3,181.7824,722.29	3,032.3021,465.58	11,095.1688,931.76	11,171.02
						79,120.01
3	Profit / (Loss) before exceptional items, share in (loss) / profit of associates andjoint ventures and tax expense from continuing operations (1-2)Exceptional items (Refer note 4(a) and 4(b))	2,926.30	3,314.86	338.91	4,813.84657.28	293.46
	Profit / (Loss) before share in (loss) / profit of associates and joint ventures and
	tax expense from continuing operations (3±4)	2,926.30	3,314.86	338.91	5,471.12	293.46
	Tax experises
	(a) Current tax (net)	454.61	249.91	27.33	1,406.76	59.01
	(b) Deferred tax	(158.63)	(458.40)	35.54	(719.91)	39.05
7	Profit / (Loss) before share in (loss) / profit of associates and joint ventures fromcontinuing operations (5±6)	2,630.32	3,523.35	276.04	4,784.27	195.40
8	Share of prc.ti / (loss) of associates and joint ventures from continuing operations	(130.78)		(102.43)	(101.76)	(102.43)
9	Profit / (Loss) after tax expense from continuing operations (7±8)
	B. Discontinuing Operations	2,499.54	3,523.35	173.61	4,682.51	92.97
	10 (Loss) / profit before tax expense from discontinuing operations (Refer note 4)			(523.83)
		(348.83)	(698.63)		(2,001.78)	(1,546.00)
	11 (Loss) / profit after tax expense from discontinuing operations	(348.83)	(698.63)	(523.83)	(2,001.78)	(1,546.00)
	12 Profit / (loss) after tax for the respective periods (9111)	2,150.71	2,824.72	(350.22)	2,680.73	(1,453.03)
	13 Other Comprehensive Income/ (Expenses) (net of tax)
	(a) Items that will not be reclassified to profit or loss
	(i) Remeasurements of the net defined benefit liability	26.70	7.24	35.65	48.23	28.58
	(ii) Income tax on a Love	(9.33)	(2.53)		(16.85)
	(b)(i) Items that will be reclassified to profit or loss	(37.73)	28.19	56.90	(42.26)	21.50
	(ii) Income tax on above
14	Total comprehensive income for the period (Comprising Profit/(Loss) and OtherComprehensive Income/(Expenses)(net of tax)) for the period (12±13)	2,130.35	2,857.62	(257.67)	2,669.85	(1,402.95)
15	Total comprehensive income attributable to:
	(a) Owners of the Company	1,879.11	2,683.77	(653.34)	2,877.41	(1,846.40)
	(b) Non controlling interest	251.24	173.85	395.67	(207.56)	443.45
	Total comprehensive income for the period	2,130.35	2,857.62	(257.67)	2,669.85	(1,402.95)
16	Paid up equity share capital (Face value - Rs 10 per share)	1,288.11	1,288.11	1,286.97	1,288.11	1,286.97
17	Earnings per equity share (EPS) (of Rs. 10 each) :
	(a) Basic EP3 from continuing and discontinuing operations (Rs.)	14.75	20.58	(5.80)	22.43	(14.80)
	(b) Diluted EPS from continuing and discontinuing operations (Rs.)	14.73	20.55	(5.80)	22.40	(14.80)
	(c) Basic EPS from continuing operations (Rs.)	16.22	23.52	(3.60)	30.85	(2.74)
	(d) Diluted EPS from continuing operations (Rs.)	16.20	23.49	(3.60)	30.82	(2.74)
	(e) Basic EPS from discontinuing operations (Rs.)	(1.47)	(2.94)	(2.20)	(8.42)
	(f) Diltted EPS from discontinuing operations (Rs.)					(12.06)
		(1.47)	(2.94)	(2.20)	(8.42)	(12.06)

TUN Mr Affate $\frac{1}{20}$ $\frac{1}{N}$

Notes to the consolidated financial results for the quarter and year ended March 31, 2019
	1. Statement of consolidated assets and liabilities		(Rs. in Lakhs)
S.No.	Particulars	As at March 31, 2019	As at March 31, 2018
		(Audited)	(Audited)
Α	Assots(1) Non-current assets
	(a) Property, plant and equipment(b) Capital work-in-progress / Intangible assets under development	11,303.16	12,212.67
	(c) Goodwill on consolidation	1,385.65	2,658.45
	(d) Other intangible assets	3,762.27	3,762.27
	(e) Financial assets	5,412.17	7,884.88
	(i) Investments
	(ii) Loans	1,204.67500.89	1,444.12
	(iii) Others non-current financial assets	2,611.80	544.44
	(f) Deferred tax assets (net)	510.10	198.78
	(g) Non-current tax assets	339.92	38.28
	(h) Other non-current assets	604.12	412.88
	Total non-current assets	27,634.75	645.40
			29,802.17
	(2) Current assets
	(a) Inventories	23,690.27	26,970.22
	(b) Financial assets
	(i) Trade receivables	28,465.58	23,994.98
	(ii) Cash and cash equivalents	1,730.19	2,172.90
	(iii) Bank balances other than (ii) above	1,185.48	1,388.02
	(iv) Loans	4.79	11.26
	(v) Other current financial assets	10,926.21	15,919.92
	(c) Other current assets	3,351.59	4,115.57
		69,354.11	74,572.87
	Assets classified as held for disposal	12,618.02	2,963.54
		81,972.13	77,536.41
	Total assets (1+2)	109,606.88	107,338.58
B	Equity and liabilities
	Equity
	(a) Equity share capital	1,288.11	1,286.97
	(b) Other equity	20,614.21	17,717.10
	Equity attributable to equity holders of the parent	21,902.32	19,004.07
	Non-controlling interests	2,472.25	2,605.82
	(1) Total equity	24,374.57	21,609.89
	Liabilities
	(2) Non-current liabilities
	(a) Financial liabilities
	(i) Borrowings	8,619.53	9,520.68
	(ii) Other non-current financial liabilities	2,721.33	2,833.24
	(b) Deferred tax liabilities (net)	1,139.25	1,356.23
	(c) Provisions	1,408.39	1,564.73
	(d) Other non-current liabilities	183.88
	Total non-current liabilities	14,072.38	15,274.88
	(3) Current liabilities
	(a) Financial liapilities
	(i) Borrowings
	(ii) Trade payables	22,845.23	26,697.18
	(iii) Other current financial liabilities	14,465.36	18,752.69
	(b) Other current liabilities	6,772.09	4,054.02
	(c) Provisions	16,813.41	18,452.96
	(d) Income tax liabilities (net)	2,263.46	2,443.30
		1,415.7064,575.25	53.66
	Liabilities directly associated with assets classified as held for disposal	6,584.68	70,453.81
		71,159.93
			70,453.81
	Total equity and liabilities (1+2+3)	109,606.88	107,338.58

WAYAFOO

Notes to the audited consolidated financial results for the quarter and year ended March 31, 2019

• 2 Investors can view the audited consolidated financial results of Centum Electronics Limited ("the Group" or "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).
• 3 The Company along with its subsidiaries, associates and joint ventures 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".
• 4 (a) During the year ended March 31, 2019, the Group has divested its entire 51% stake in Centum Rakon India Private Limited, a joint venture entity and realized a profit of Rs. 584.99 Lakhs on such sale of shares, which has been disclosed as an 'exceptional item' in the audited consolidated financial results of the Group for the year ended March 31, 2019.

(b) During the year ended March 31, 2019, the Group has divested its entire 50% stake in Sandhi SAS, a joint venture entity and realized a profit of Rs. 72.29 Lakhs on such sale of shares, which has been disclosed as an 'exceptional item' in the audited consolidated financial results of the Group for the year ended March 31, 2019.

(c) During the year ended March 31, 2019, the step down subsidiaries of the Company, Adetel Maroc SA and Adetel Equipment Maroc SA, have initiated liquidation proceedings and accordingly the results of the operation of this entity has been disclosed under discontinuing operations.

(d) During the quarter ended March 31, 2019, the management of the Group has decided to sell its investments in Centum Adetel Transportation SAS, step down subsidiary of the Company and accordingly the results of the operation of this entity has been disclosed under discontinuing operations.

• 5 The audited consolidated financial results of the Company for the quarter and year ended March 31, 2019 have been reviewed by the Audit Committee in their meeting on May 28, 2019 and approved by the Board of Directors in their meeting held on May 29, 2019.
• 2 6 Ind AS 115 Revenue from Contracts with Customers, mandatory for reporting periods beginning on or after April 1, 2018, replaces existing revenue recognition requirements. Under the modified retrospective approach there were no significant adjustments required to the retained earnings at April 1, 2018. Also, the application of Ind AS 115 did not have any significant impact on recognition and measurement of revenue and related items in the financial results.
• 7 The figures for quarter ended March 31 of current and the previous years in the consolidated 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 nine months ended December 31 for respective years.
• 8 The Board of Directors of the Company at their meeting held on May 29, 2019 have recommended a final dividend of Rs.4/- per equity share of Rs.10/- each for the financial year ended March 31, 2019. The said final dividend is subject to approval of the shareholders at the ensuing Annual General Meeting of the Company.
• 9 Previous period figures have been regrouped/reclassified, wherever necessary to conform to current period classification.

Place : Bengaluru Date: May 29, 2019

$As$ & Bengaluru $\rightarrow$

For Centum Electronics Limited Apparao V Mallavarapu

Chairman & Managing Director

Chartered Accountants

12th Floor "UB City" Canberra BlockNo. 24, Vittal Mallya Road Bengaluru - 560 001, India Tel: +91 80 6648 9000

Auditor's Report On Ouarterly and Year to Date Standalone Ind AS Financial Results of Centum Electronics Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

T0 Board of Directors of Centum Electronics Limited.

• 1. We have audited the accompanying statement of standalone Ind AS financial results of Centum Electronics Limited ('the Company') for the quarter ended March 31, 2019 and for the year ended March 31, 2019 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulation'), read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 ('the Circular'). The standalone Ind AS financial results for the quarter ended March 31, 2019 and year ended March 31, 2019 have been prepared on the basis of the standalone Ind AS financial results for the nine-month period ended December 31, 2018, the audited annual standalone Ind AS financial statements as at and for the year ended March 31, 2019, and the relevant requirements of the Regulation and the Circular, which are the responsibility of the Company's management and have been approved by the Board of Directors of the Company. Our responsibility is to express an opinion on these standalone financial results based on our review of the standalone Ind AS financial results for the nine-month period ended December 31, 2018 which was prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting, specified under Section 133 of the Companies Act 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India; our audit of the annual standalone Ind AS financial statements as at and for the year ended March 31, 2019; and the relevant requirements of the Regulation and the Circular.
• We conducted our audit in accordance with the auditing standards generally accepted in India. $21$ Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion.
• 1. In our opinion and to the best of our information and according to the explanations given to us, these quarterly standalone Ind AS financial results as well as the year to date results:
  • are presented in accordance with the requirements of the Regulation read with the Circular, i. in this regard; and
  • give a true and fair view of the net profit including other comprehensive income and other ii. financial information for the quarter ended and for the year ended March 31, 2019.

Chartered Accountants

1. Further, read with paragraph 1 above, we report that the figures for the quarter ended March 31, 2019 represent the derived figures between the audited figures in respect of the financial year ended March 31, 2019 and the published year-to-date figures up to December 31, 2018, being the date of the end of the third quarter of the current financial year, which were subjected to a limited review as stated in paragraph 1 above, as required under the Regulation and the Circular.

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

Parner Warder $\theta$ per Sandeep Karnani

Partner Membership Number: 061207

Place of Signature: Bengaluru Date: May 29, 2019

$8.4sS$ 1001 laBa Bengaluru

	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 standalone results for the quarter and year ended March 31, 2019
						(Rs. in Lakhs)
			Quarter ended		Year ended
SI.No.	Particulars	March 31,2019	December 31,2018	March 31,201 E	March 31,2019	March 31,2018
		Refer Note 7	(Unaudited)	Refer Note 7	(Audited)	(Audited)
$\mathbf{1}$	Income
	(a) Revenue from operations
	(i) Sales/Income from operations	15,076.15	15,322.26	9,150.08	48,935.17	35,228.36
	(ii) Other operating income	170.92	143.37	162.03	647.66	642.43
	(b) Other income
	(i) Gain on account of foreign exchange fluctuations (net)	299.74	867.36
	(ii) Others	205.51	153.83	444.92	666.58	766.66
	Total income	15,752.32	16,486.82	9,757.03	50,249.41	36,637.45
2	Expenses
	(a) Cost of materials consumed	7,812.66	7,834.97	6,573.90	31,366.83	25,573.03
	(b) Excise duty expenses					335.66
	(c) Changes in inventories of finished goods and work-in-progress	1,901.80	2,084.40	398.01	(14.93)	(547.85)
	(d) Employee benefits expenses	1,964.45	1,612.61	1,602.12	6,734.09	6,051.89
	(e) Finance costs	581.59	810.53	619.73	2,676.51	1,500.84
	(f) Depreciation and amortisation expenses	297.77	309.60	300.01	1,208.75	1,202.19
	(g) Less on account of foreign exchange fluctuations (net)			155.28	340.44	142.93
	(h) Other expenses	1,376.12	1,428.98	1,140.85	4,475 90	4.299.69
	Total expenses	13,934.39	14,081.09	10,789.90	46,787.59	38,558.38
3	Profit / (Loss) before exceptional items and tax (1-2)	1,817.93	2,405.73	(1,032.87)	3,461.82	(1,920.93)
4	Exceptional items (Refer note 3)				3,288.35
5	Profit / (Loss) before tax $(3 \pm 4)$	1,817.93	2,405.73	(1,032.87)	6,750.17	(1,920.93)
6	Tax expenses
	(a) Current tax (Refer note 3)	444.83	278.37		1,436.23	4.16
	(b) Deferred tax (credit) / charge	(95.10)	(396.73)	89.78	(486.22)	256.05
$\overline{7}$8	Profit / (Loss) for the period (5±6)Other Comprehensive Income/(Expenses) (net of tax)	1,468.20	2,524.09	(1, 122.65)	5,800.16	(2, 181.14)
	(a) Items that will not be reclassified to profit or loss
	(i) Remeasurements of the net defined benefit liability	26.70	7.24	35.63	48.23
	(ii) Income tax on above	(9.33)	(2.53)		(16.85)	28.58
	(c) (i) Items that will be reclassified to profit or loss
	(ii) !ncome tax on above
9	Total comprehensive income for the period (Comprising (loss) / profit	1,485.57	2,528.80	(1,087.02)	5,831.54	(2, 152.56)
	and Cther Comprehensive Income/(expenses) (net of tax) for the period(7±8)
	10 Paid up equity share capital	1,288.11	1,288.11	1,286.97	1,288.11	1,286.97
	(Face value- Rs.10 per share)
	11 Earnings per equity share (of Rs. 10 each):
	(a) Basic (Rs.)	11.40	19.58	(8.76)	45.04	(17.02)
	(b) Diluted (Rs.)	11.38	19.55	(8.76)	44.98	(17.02)

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Mrshpatoo TUM JOUL! WI-

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	Notes to the standalone financial results for the quarter and year ended March 31, 20191. Statement of standalone assets and liabilities
			(Rs. in lakhs)
		March 31, 2019	March 31, 2018
		(Audited)	(Audited)
т	Assets
	(1) Non-current assets
	(a) Property, plant and equipment	9,724.55	10,425.67
	(b) Capital work-in-progress	706.45	3.88
	(c) Goodwill	363.48	363.48
	(d) Other intangible assets	167.19	151.97
	(e) Intangible asset under development	295.29	58.85
	(f) Financia 1 assets
	(i) Investments	4,886.97	4,876.98
	(ii) Loans(iii) Other non-current financial assets	195.75	151.88
	(g) Deferred tax assets (net)	2,611.80507.67	198.7838.30
	(h) Non-current tax a.sets (net)	335.36	311.02
	(i) Other non-current assets	592.87	645.39
	Total	20,387.38	17,226.20
	(2) Current assets
	(a) Inventories	22,512.32	24,731.21
	(b) Financial assets
	(i) Trade receivables	18,626.63	9,475.71
	(ii) Cash and cash equivalents	450.66	798.76
	(iii) Bank balances other than cash and cash equivalents	1,185.48	1,388.08
	(iv) Other current financial assets	1,248.40	46.24
	(v) Loans	4.79	12.50
	(c) Other current assets	1,535.15	2,102.10
	Total	45,563.43	38,554.60
	(3) Assets classified as held for disposal		289.24
	Total assets (1+2+3)	65,950.81	56,070.04
$\mathbf{H}$	Equity and liabilities
	(1) Equity
	(a) Equity share capital(b) Other equity	1,288.11	1,286.97
	Total equity	20,435.5621,723.67	14,745.40
			16,032.37
	(2) Non-current liabilities
	(a) Financial liabilities
	(i) Borrowings	2,376.33	2,087.34
	(ii) Other non-current financial liabilities	1.60	0.79
	(b) Government grants	183.88	$\mathcal{L}^{\mathcal{C}}$
	(c) Net non-current employee defined benefit liabilities	364.87	329.49
	Total	2,926.68	2,417.62
	(3) Current liabilities
	(a) Financial liabilities
	(i) Borrowings	16,260.39	17,782.34
	(ii) Trade payables
	Total outstanding dues of micro enterprises and small enterprises	276.82	167.99
	Total outstanding ques other than micro enterprises and small enterprises	10,356.67	11,224.91
	(iii) Other current financial liabilities	3,125.08	1,748.92
	(b) Government grants	54.33
	(c) Other current liabilities	9,588.42	6,539.04
	(d) Net current employee defined benefit liabilities	59.51	39.31
	(e) Provisions	163.54	117.54
	(f) Liabilities for current tax (net)Total	1,415.70
		41,300.46	37,620.05
	Total equity and liabilities (1+2+3)	65,950.81	56,070.04

TUM myttatos ×.

Notes to the standalone financial results for the quarter and year ended March 31, 2019.

• , 2 Investors can view the standalone financial results of Centum Electronics Limited ("the Company") on the Company's website www.centumelectionics.com or on the websites of BSE (www.bseindia.com) or NSE (www.nse-india.com).
• 3 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 FSDM in accordance with the requirement of Ind AS 108 - "Operating segments".
• 4 During the year ended March 31, 2019, the Company has divested its entire 51% stake in Centum Rakon India Private Limited, a joint venture entity and realized a profit of . Rs. 3,288.35 Lakhs (before tax) (Rs. 2,575.32 Lakhs, net of tax) on such salc of shares, which has been disclosed as an 'exceptional item' in the standalone financial results of the Company for the year ended March 31, 2019.
• 5 The standalone financia' results of the Company for the quarter and year ended March 31, 2019 have been revie wed by the Audit Committee in their meeting on May 28, 2019 and approved by the Board of Directors in their meeting held on May 29, 2019.
• 6 Ind AS 115 Revenue from Contracts with Customers, mandatory for reporting periods beginning on or after April 1, 2018, replaces existing revenue recognition requirements. Under the modified retrospective aporoach there were no significant adjustments required to the retained earnings at April 1, 2018. Also, the application of Ind AS 115 did not have any significant impact on recognition and measurement of revenue and related items in the financial results.
• 7 The figures for quarter ended March 31 of current and the previous years in the standaione 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 nine months ended December 31 for respective vears.
• 8 The Board of Directors of the Company at their meeting held on May 29, 2019 have recommended a final dividend of Rs.4/- per equity share of Rs.10/- each for the financial year ended March 31, 2019. The said final dividend is subject to approval of the sharehoiders at the ensuing Annual General Meeting of the Company.

Place : Bengaluru Date . May 29, 2019

$8.Ass$ Bengaluru

$115$ WI

For Centum Electronics Limited

Apparao V Mallavarapu Chairman & Managing Director