Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Cranes Software International Ltd. Interim / Quarterly Report 2021

Nov 13, 2020

63274_rns_2020-11-13_c7e377da-9941-4846-83af-21aa9b686637.pdf

Interim / Quarterly Report

Open in viewer

Opens in your device viewer

c3.

CranesSoftware InternationalLimited

eaégfs

==> picture [8 x 9] intentionally omitted <==

----- Start of picture text -----

9
----- End of picture text -----

CorrespondenceAddress:

#82, PresidencyBuilding,3rd& 4thFloor, St.MarksRoad,Bcngaluru - 560001.Kamataka

Ph:+9180 6764 4800/4848 Fax:+9180 67644888 Email:[email protected]

13‘“ November.2020

To,

The Manager Departmentof CorporateServices BombayStock Exchange Ltd, P J Towers.Dalal Street

Mumbai - 400 001

Dear Sir.

Sub: Meeting of the Board of Directors - Outcome Ref: Company No. 512093

Furtherto our letterdt. 5thNovember. 2020 informingyou of the Board of Directors Meeting,we wish to informyou that at the meetingof the Board of Directorsheld today(13mNovember. 2020). theBoardhas:

  • . Approvedandtakenon recordtheun-auditedfinancialresultsforthequarter andperiodended30"1September, 2020. Theresultsareenclosedherewith foryourinformation / records.

  • c The LimitedReview Reportis also enclosedforyourreference.

Thankingyou.

==> picture [204 x 25] intentionally omitted <==

----- Start of picture text -----

Yoursfaithfully,
For Cranes Software lnte -tiona| Ltd.
----- End of picture text -----

AuthorisedSignatory ' ' Name: Mueed Khader Designation:Director

Encl: as above

ISO 9001:2000 ISO 270012005 CMMILS V1.2

In

CRANES SOFTWARE l NTERNATIONALLIMITED ReguOM:#82.PIBSIdencyBuI|0ing.&d& ”08057644348FaxflflOS7644888Emait

81.
Panicullr:
I40
1 TotalIncomefromOperating(Net)
2 NetProm/(Lose)fortheperiod(More taxandexceptionalitems)
3 NetPram/(Lose)forthePeriodbeloretax(aferexceptional
Me)
4 NetProft/(Loss)
(ortheperiod300nm:(armexoewbnelItems)
5 Tote)ComprehensiveIncomeformsperiod[Compdmg‘Prom/(Loss)for
theperiod(afertax)andotherComprehensive
Income(fier1821)]
6 .EquityShareCapital(Facevalueo1Rs.21-each)
7
Reserve (excludingRevammion Reserves) as per Hence
sheet or
prevrousaccountingM
8 EarningsPerShare( atRs.2/~each)
0 Basic
mounted
Mom:
 Standalone
GunnerBrim
E
YearEnded
30.00.2020 30.05.2020 30.00.2010 3039mm
30.09.2010
Unludlted Umudltod W
Urn-«died
Unaudited
41.40
33.84
208.50
75.32
457.22
(30283)
(37.17)
181.56
(339.80)
228.56
(30263)
(37.17)
181.55
(339.80)
228.56
(231.11)
(28.66)
135.34
(259.77)
17021
‘

.

.
2355.34
2355.34
2355.34
2355.34
2355.34
‘
_
.
_
___
(0.20)
(0.02)
0.11
(022)
0.14
(0.20)
(0.02)
0.11
(0.22)
0.14		 YearEnded
31.03.2020
Mada-d
1.434.17
(553.32)
(553.32)
(3,650.38)
_
V
2356.34
(64.54133)
(3.10)
(3.10)		 comma-u
QuerhrEnded
m. You Ended
30.00.2020 30.05.2020 30.00.2010 30.002020
30.00.2019
Unaudihd
UnearthedUnew
Umudlhd
0mm
337.92
674.11
1,010.63
912.03
1.625.73
(534.88)
(272.70)
36.42
(907.42)
(293.88)
(634.66)
(272.70)
36.42
(907.42)
(293.68)
(570.37)
(202.29)
(56.82)
(852.67)
(399.05)
Q
.
-

_
2355.34
2355.34
2355.34
2355.34
2355.34
___

'
.
(0.43)
(0.24)
(0.05)
(0.72)
(0.34)
(0.48)
(0.24)
(0.05)
(0.72)
(O34)		 (Run Lem)
YearEnded
31.03.2020
Aw
3.55007
(507”)
(507.86)
(3,530.83)
.
2355.34
(73.40036)
(3.00)
(3.00)

321 Thefullformalorthetan-auditedfinance!resultsforthequmer6TheshaveIsanexited o! thecrawledformatof F mm! Remit: forthequarter & hartyeenyendedSeprember30, 2020 filedmmtheStockBounces 4 The aboveresunshavebeenrewewedby theAuditCarmine:The aboveresultareIncompliancewithIndianAmountrngStandard(INDAS)at(her maehngheldon rawhe]!yeariyended3001Sepiomber2020 rsavenableon theStockExchangewebmae(wwThe figures(or[hepreviousperrodhavebeenWWWNovember2020 andapprovedbytheBoarderDrrecrarsatIberrmeemgheldon 131::Nev/emberunderReguleuon33 ofthe6581 (LrstmgandOtherDisclosureRequirements)Regulenons2015beeindiecan) andCompany‘swebene(WW2020 cranessovmareeom)

whereevermoessarytomakethemmam warn"roseofsurrealpelted

==> picture [121 x 9] intentionally omitted <==

----- Start of picture text -----

For cranes Soflw 1Limited
----- End of picture text -----

Place Bangalore Dare 13mNovember2020

PART-1

5'-
mum
N°-
1
IncomefromOpentlom		 5'-
mum
N°-
1
IncomefromOpentlom		 30.09.2020
Unludm		 mm
30.09.2020
[in-001100		 Stem-lone
HanYurEnd-d
30.09.2019
30.09.2020
30.09.2019
01100011011 Unaudited
Unludlhd		 Stem-lone
HanYurEnd-d
30.09.2019
30.09.2020
30.09.2019
01100011011 Unaudited
Unludlhd		 Stem-lone
HanYurEnd-d
30.09.2019
30.09.2020
30.09.2019
01100011011 Unaudited
Unludlhd		 YearEndcd
31.03.2020
30.09.2020
M01100
Unaudited		 YearEndcd
31.03.2020
30.09.2020
M01100
Unaudited		 (118,111
quhe)
mud-ha
OmmrEnded
11.1111me
meme
30.00.2020
30.09.0019
30.09.2020
30.09.2019
31.03.2020
Unnamed
Umufh‘d
Unaudlted
Umudlhd
Audlted		 (118,111
quhe)
mud-ha
OmmrEnded
11.1111me
meme
30.00.2020
30.09.0019
30.09.2020
30.09.2019
31.03.2020
Unnamed
Umufh‘d
Unaudlted
Umudlhd
Audlted		 (118,111
quhe)
mud-ha
OmmrEnded
11.1111me
meme
30.00.2020
30.09.0019
30.09.2020
30.09.2019
31.03.2020
Unnamed
Umufh‘d
Unaudlted
Umudlhd
Audlted		 (118,111
quhe)
mud-ha
OmmrEnded
11.1111me
meme
30.00.2020
30.09.0019
30.09.2020
30.09.2019
31.03.2020
Unnamed
Umufh‘d
Unaudlted
Umudlhd
Audlted		 (118,111
quhe)
mud-ha
OmmrEnded
11.1111me
meme
30.00.2020
30.09.0019
30.09.2020
30.09.2019
31.03.2020
Unnamed
Umufh‘d
Unaudlted
Umudlhd
Audlted
2 NetSalesfmome fromOperations
OtherIncome
Total Income
Expenses		 41.48
0.00
41.48		 13.91
19.93
33.84		 159.47
137.11
290.58		 55.39
19.94
75.32		 227.71
229.51
457.22		 379.79
1,054.38
1,434.17		 227.29
110.64
337.92		 549.27
24.84
574.11		 031.35
179.28
1.010.”		 775.55
135.48
912.03		 1.135120
274.53
1.025.73
.		 2.50023
1.058.44
3,550.87
(13)0081 of materialsconsumed -
3
4
5
6		 (b) Pumase
of Stodx-in-Trede
(1:)ChangesInImam
a!fnishedgoodsandman-progmss
(d) Emponee M
We
(0) Flmnce 00:13
‘(0 061110131100“31110111211011expense
(9) Otherexpenses
Total Expenses
:{W‘Lm’m 0mmmm”mm”mm" "°""8‘“x“I"
ExpemionalItems
PmfWLoss) fromordinarylemmas [adoretax(3-4)
tax expense/(credit)
(a) Curren1Tax		 -
~
-
-
-
57.93
.
43.42
57.93
50.50
126.89
~
-
-
-
~
-
-
-
-
-
-
—
-
-
.
-
-
50.85
43.93
74.92
94.58
148.80
324.55
261.49
400.90
411.51
662.39
867.41
1,806.65
0.05
0.03
-
0.09
-
0.77
023
0.07
‘
0.29
-
32.63
221
2.21
1.74
4.41
2.55
6.50
307.01
321.83
302 17
628.84
649.66
1.315.”
291.21
24.84
38.36
316.05
77.51
1.655.158
345.93
124.07
217.12
470.00
351.84
784.77
344.12
71.01
115.02
415.12
228.55
1,907.49
972.58
846.87
974.21
1,819.45
1,919.41
4,089.53
(302.63)(37.17) 1111.55(339.80) 228.56 (553.32)(634.66)(272.76) 36.42 (907.42)(293.63) (507.86)
-
.
-
-
-
-
-
-
-
-
-
~
(302.63)
(37.17)
181.56
(339.80)
228.56
(553.32)
(834.66)
(272.76)
36.42
(907.42)
(293.68)
(507.86)
-
7
8
9
10
11
12
13
**14 **		 (b) DeferredTax
T0121tax expense:
Herod")
Ne1Proft/(Loss)fromominuy activitiesafterlax (5-6)
Exlmordlnaryhams
M81ProfMLoss) forthe period(7-8)
MinorityInterest
Ne! ProfimLoss) aferTaxee. minorfyinterestand share of profvtoss of
nssociatesfff)
Tate! ComprehensiveIncane (or theperiod[Notattax]
Paid-upeqully sham capital(Face Vane 01Rs.2I-)
Reserve excludingRevaiueum Reserves as pet balancesheet 01
previousaccountingM		 (71.53)
(71.53)
(231.11)
-
(231.11)
(231.11)
-
2,355.34		 -
(8.51)
(8.51)
(28.66)
~
(28.66)
(28.68)
-
2,355.34		 -
46.23
46.23
135.34
-
135.34
135.34
-
2,365.34		 -
(80.03)
(80.03)
(259.77)
-
(259.77)
(259.77)
.
2.35534		 -
58.35
58.35
170 21
-
170.21
170.21
4
2.35534		 (0.59)
3.13755
3,097.09
(3,650.38)
-
(3.85038)
(3,850.38)
-
2,355.34		 7.24
(71.53)
(941.29)
(570.37)
-
(570.37)
(570.37)
-
2,355.31		 18.04
(8.51)
9.53
(282.29)
-
(282.29)
(282.29)
-
2,355.34		 47.01
46.23
93.24
(56.82)
-
(56 82)
(56 82)
.
2.35534		 25.28
(80.03)
(54.75)
(852.67)
-
(852.67)
(852.67)
-
2.35534		 47.01
58.35
105.36
(399.05)
-
(39905)
(399.05)
-
‘
2.35534		 62.58
2,968.39
3,030.97
(3,538.83)
—
(3.53883)
(3,538.83)
.
2,355.34
15 Earnings Per Share (Rs) (1101mnualised) (64.54133) (73,489.96)
1)Basic
100110190		 (020)
(0.20)		 (0.02)
(0.02)		 0.11
0.1 1		 (0.22)
(0.22)		 0.14
0.14		 (3.10)
(3.10)		 (0.43)
(0.48)		 (0.24)
(0.24)		 (0.05)
(0.05)		 (0.72)
(0.72)		 (0.34)
(0.34)		 (3.00)
(3.00)

PART-2

SL SL
No
PARTICULARS		 30.09.2020 3 MonthsEnded
30.06.2020
30.09.2019		 Year ended
31.03.2020
A PARTICULARS OFSHAREHOLDING
1 PublicShareholding
- Numberof shares
- Percentage of shareholding		 110,247,850
110,247,850
93.62%
93.62%		 110,247,850
93.62%		 110,247,850
93.62%
2 Promoters and Promoter Group Shareholding
(a) Pledged_I_ Encumbered
—Number of shares
-
Percentage
of
shares
(as
a
%
of
the
shareholding of promoter and promoter group)
—Percentage of shares (as a %of the total share
capital of the company)		 1,000,000
total
0
13-30’6
0.85%		 1,000,000
o
13-30A’
0.85%		 1,000,000
o
1330 A
0.85%		 1,000,000
o
13-30A
0.85%
(b) Non-encumbered
- Number of shares
6,519,000
-
Percentage
of
shares
(as
a
%
of
the
total
shareholding of promoter and promoter group)
867096
-
0
Percentage of shares (as a /o of the total share
5.54%
capital of the company)		 6,519,000
0
86'70 /°
5.54%		 6,519,000
86'70%
554%		 6,519,000
86'70%
5.54%
B INVESTOR COMPLAINTSFOR**3 MONTHSENDED ** 30TH SEPTEMBER
2020
Pending at the beginning
of the Quarter		 Received during
the Quarter		 [LISP-05131“
32::
e		 Remaining unresolved at the
end of the Quarter
I'
CranesSoftwareInternationalLimited CranesSoftwareInternationalLimited
Standalone Cash Flow Statement
."
‘
e
.
.31)“;
&
Particulars
g>
.,.
g
___
7
1
CashFlowFromOperatingActivities
Proft/(Loss)beforetax
OpertingProftbeforeworkingcapitalchanges
Netcash(usedin)/generatedfromoperatingactivities(A)		 7**, ** r
‘		 Forthepegiodmgdqn
{I,7
September
30,1~ Seafniber
Sh,
2020
£39;
7,7
(339.80)
228.56
(96.64)
2.38
0.62
0.89
2 CashFlowsFromInvestingActivities(B) (7.12) (7.12)
3 CashFlowsFromFinancingActivities( C) (0.09) (0.05)
NetdecreaseIncashandcashequivalents(A+B+C)
Cashandcashequivalentsatthebeginningofthefinancialyear
Cashandcashequivalentsatendoftheyear		 0.39
15.84
17.24		 (6.28)
38.55
32.28

Cranes Software InternationalLimited

xii-lilo
Poiticulars		 xii-lilo
Poiticulars		 September
30.		 . s ”: '1":30.
, , 2.020 3019
1 Cash Flow From Operating Activities
Profit/(Loss)beforetax (907.42) (293.68)
OpertingProfitbeforeworkingcapitalchanges (38.04) 82.12
Netcash(usedin)/ generatedfromoperatingactivities(A) 1,585.36 167.53
2 CashFlowsFromInvestingActivities(3) (612.80) (154.34)
3 CashFlowsFromFinancingActivities( C) (1.01) (0.71)
Net decrease In cash and cash equivalents (A+B+C) 971.55 12.47
Cashandcashequivalentsatthebeginningofthefnancialyear 229.55 229.47
Cashandcashequivalents
atendoftheyear		 1,201.10 241.94
(RsinLakha) (RsinLakha)
7,
'
’		 Standalone Consolidated
PM
“‘		 AsAt AsAt AsAt AsAt
**30.09.2020 ** 31.03.2020 30.09.2020 31.03.2020
I. ASSETS
1 Non-current
assets
Property,
plantandequipment		 28.90 32.20 66.32 70.06
Capitalworkinprogress 5,042.44 5,042.44 4,738.59 4,894.68
Intangible
assets		 - 0.98 5,042.44 5,042.44
Deferred
TaxAsset(Net)		 22,112.81 22,032.78 25,943.60 25,945.36
FinancialAssets
lnvestrnents 8,010.18 8,010.18 17.86 17.87
Othernon-current
assets		 3,514.50 3,660.79 226.56 223.66
Non-current
assets		 38,708.84 38,779.31 36,035.37 36,194.07
2 Currentassets
Inventories - - -
Financial
Assets
Tradereceivables 11,327.51 11,591.34 3,057.42 3,262.24
Cashandcashequivalents 8.88 9.08 1,087.86 124.90
Bankbalances
otherthan(iii)above		 8.36 7.76 113.24 104.65
Othercurrent
assets		 216.69 232.18 993.82 474.09
Currentassets 11,561.44 11,840.37 5,252.34 3,965.88
TOTALASSETS 50,270.27 50,619.74 41,287.71 40,159.95
**ll. ** EQUITYANDLIABILITIES
Equity
Equitysharecapital 2,355.34 2,355.34 2,355.34 2,355.34
OtherEquity **(64,801.10) ** (64,541.33) (74,327.98) (73,489.96)
**(62,445.76) ** (62,186.00) (71,972.64) (71,134.62)
Shareapplication
moneypendingallotment
1 Non-Current
Liabilities
Financial
Liabilities
Provisions 36.33 3391 52.36 52.73
Non-Current
Liabilities		 36.33 33.91 52.36 52.73
2 Currentliabilities
Financial
Liabilities
Borrowings 43.78 43.78 43.78 43.78
Tradepayables 514.38 476.72 1,430.28 1,544.65
Othercurrent
liabilities		 **111,967.06 ** 112,093.71 111,576.67 109,495.80
Provisions 154.48 157.62 157.27 157.62
Currentliabilities **112,679.70 ** 112,771.82 113,208.00 111,241.85
**TOTALEQUITYANDLIABILITIES ** 50,270.27 50,619.74 41,287.71 40,158.95

==> picture [71 x 26] intentionally omitted <==

----- Start of picture text -----

°§. Bengaluru; ,
“so-.1.“ “3:“ ,1
-------
----- End of picture text -----

Notes

1. The aboveresultis for the periodendedSeptember30, 2020 as reviewedand recommendedby the Auditcommitteeof the Board, has been approvedby the Boardof Directorsat its meeting heldon November13, 2020.

  • The statement has been prepared in accordance with the Companies (Indian Accounting Standards)Rules, 2015 (Ind AS) prescribedundersection 133 of the companiesAct, 2013 and otherrecognizedaccountingpracticesandpoliciesto theextentapplicable.

  • The businessof theCompanyfallsundera singleprimarysegmenti.e., IT/ ITESinaccordancewith IndAS 108 'OperatingSegments"andhencenosegmentreportingisapplicable.

  • The Companyhas not providedinterestin booksof accountson FCCB Liability,Loanfrom UPS Capital & Banksfor quarterendedSeptember30, 2020.

  • The Companyhas not restatedfor FCCB liability,Loanfrom UPS Capitaland interestthereonfor thequarterendedSeptember30,2020.

  • On a standalonebasis, the Companyperformedwell in the months ahead of the pandemic, particularlyas the Varsitydivisionreinforcedits marketpositionin the trainingand education market. However, we have experienced serious business impact and disruptionsfrom the pandemicdownturnacrossthe entireindustrial,manufacturingand servicesspectrum.Revenues and operationshave been drasticallyreduced because of shut-downs,travelrestrictions,and highlycurtailedcustomers'and users'demand.We are planningfor a post-Covidrebound basedon i) leveragingthe scopeand reachof legacyproducts,servicesandtrainingstrengthsto address expected needs of customers,students,corporate and universities,ii) continuingto developtrainingprogramsin cutting-edgetechnologiessuch as Cloud Computing,Analyticsand Al, iii)expandingourexpertise,programsandcollaborationsinthe rapidlyevolvingon-linetraining sector, and iv) productivelicensingarrangementswhich leverageour products,servicesand extensivecustomerrelationshipsandmarketreach.

7. Otherexpensesincludesexchangefluctuationlossof Rs.258.57 Lakhs

Place : Bangalore

SethiaPrabhadHegde& Co. Chartered Accountants

INDEPENDENTAUDITOR'SREVIEW REPORT[ON REVIEW OF INTERIMSTANDALONE] FINANCIALRESULTS

To the Board of Directors

Cranes Software International Limited

Bengaluru

  1. We have reviewed the standalone[unauditedfinancialresultsof][CranesSoftware] InternationalLimited(the "Company")for[the][quarterended30thSeptember][2020] andthe yearto dateresultsfor the period[Aprilto September][2020,][beingsubmitted] bythe companypursuantto the[requirementsof Regulation33 of the Securitiesand] Exchange Board of India (Listing Obligations and Disclosure[Requirements)] Regulations, 2015 (as amended),[includingrelevantcircularsissued by][SEBI from] time to time. This statement which is the responsibility[of][the][Company’s Managementand] approvedby the Company’sBoardof[Directors,has been preparedin accordance] withthe recognitionandmeasurement[principleslaiddowninthe IndianAccounting] standard34, InterimFinancialreporting[(Ind34), prescribedunderSection133ofthe] CompaniesAct, 2013 and other accounting[principlesgenerallyaccepted in][India] and is in compliance with the presentationand disclosure requirements[of] Regulation33 of the Securitiesand Exchange[Boardof India(ListingObligationsand] Disclosure Requirements) Regulations,[2015][(as][amended)][including][relevant] circulars issued by SEBI from time to[time.][Our][responsibilityis][to][express a] conclusiononthe Statementbasedonour[review]

  2. We conductedour reviewin[accordancewiththe Standardon ReviewEngagements] (SRE) 2410, "Reviewof InterimFinancial[Informationperformedby the Independent] Auditorof the Entity" issuedby the[Instituteof][CharteredAccountantsof][India.A] review of interim financial information[consistsof][makinginquiries, primarilyof] personsresponsibleforfinancialand[accountingmatters,andapplyinganalyticaland] other review procedures.A review is[substantiallyless][in][scope][than][an][audit] conductedin accordancewith the Standards[on][Auditingspecified under section] 143(1 0) of the Act, and consequently,[does][not][enable][us to][obtain][assUrance that] we would become aware of all significant[mattersthat][might be][identifiedin][an] audit.Accordingly,we do notexpressan[auditopinion.]

  3. Basedon our review conducted[as above, subjectto][the][mattersspecifiedin the] ’OtherMatters’andthe ’Emphasisof[matter’paragraphsbelownothinghascometo] our attentionthat causesusto[believethatthe Statementhasnot beenpreparedin] all material respects in[accordance][with][Ind][AS][and][other][recognised][accounting] practicesandpolicies,andhasnot[disclosedthe informationrequiredto bedisclosed] in terms of Regulation33 of the[ListingRegulations,][2015][includingthe][mannerin] whichit isto bedisclosed,orthatit[containsanymaterialmisstatement.]

21, lst Floor, ‘A’ Main Road, ‘E’ Block extension, Bangalore 660092.

  • Hon’ble High Court of Karnatakaissued a winding up order againstthe company,whichindicatesthe existenceof materialuncertaintythat maycast significantdoubtonthe company’sabilityto continueas a goingconcern.

  • affairs”duringAugust 2019, statingthatthe companyhasbeenorderedto be wound up by the Hon'ble High Court of Karnatakavide over dated 28th November 2017. Also, the companystatus on the MCA portal reflects as ”UnderLiquidation".

  • Based on the plea submittedby the Company,the Hon’ble High Court of Karnatakahad granteda stay of 8 weeks from the date of order viz 29th November 2019 for the Newspaperpublicationof winding up order. If no settlement is arrived between the parties within the said period, the petitioner i.e. ”The Bank of New York” is at liberty to proceed with the newspaperpublication.The staygrantedendedon 30thJanuary 2020 andthe petitionerhas not madeany newspaperpublicationof the windingup order till date.

y

V;\:y.;“x\’m/’ ' Q]

  • 5.2 The management is in negotiation with the Foreign currency convertible bond holdersfor settlingits dues.The managementis of the view that the liabilityof ' INR 38,695 Iakhsreflectedin the financialstatementswill adequatelycover its liability on settlement of dues with the Foreign currency convertible bond holdersandthereforeno provisionfor interestis providedfor the quarterended and six monthsended30thSeptember 2020. Hadsuchinterestbeenprovidedin the booksin the normalcourse,the presentlossfor the quarterendedand six monthsended30thSeptember 2020 wouldhavebeenhigherby INR 429.86 Iakhs andINR 851.20 Iakhsrespectively.

  • 5.3 In continuationto the point no. 5.2 above,the companyhas also discontinued the restatement of the Exchange fluctuation gain / loss on account of the outstandingduetowardsForeigncurrencyconvertiblebondandthe interestdue thereon,in line with the IndAS—21"The Effectsof Changesin ForeignExchange Rates”. Had such restatementof liabilitybeen madein the booksin the normal course, the present loss for the quarter ended and six months ended 30th September 2020 would have beenhigherby INR231 Iakhsand INR 940.8 Iakhs respectively.

  • 5.4 Loanavailedby the companyfrom’UPS CapitalBusinessCredit’ remainsunpaid and is overduesinceApril 2014. The managementis of the view that the liability of INR 696.37 Iakhs(includinginterest)reflectedin the financialstatementswill adequatelycoverits liabilityonsettlementof duesandthereforeno provisionfor interestis providedfor the quarterendedandsix monthsended30thSeptember 2020. Had such interest been provided in the books in the normal course, the presentloss for the quarterendedand six monthsended 30thSeptember 2020 wouldhavebeenhigherby INR 11.29 IakhsandINR 22.69 Iakhsrespectively

  • 5.5 In continuation to the point no. 5.4 above, the company has also discontinued the restatement of the Exchange fluctuation gain / loss on account of the outstandingdue towards ‘UPS Capital BusinessCredit’ and the interest due thereon,in line with the InclAS—21”The Effectsof Changesin ForeignExchange Rates”. Had such restatementof liabilitybeen madein the booksin the normal course, the present loss for the quarter ended and six months ended 30th September 2020 would have been lower by INR 3.52 Iakhsand INR 2.52 Iakhs respectively. - l

==> picture [30 x 12] intentionally omitted <==

----- Start of picture text -----

- l
W.I)‘:.fw .
----- End of picture text -----

  • 5.6 Termloansandworkingcapitalloansavailedbythe companyfromvariousbanks. amountingto INR 57,631.91 Iakhs,remainunpaidand are overduesince 2009. The lendershavefiled casesbeforethe Debt RecoveryTribunal(DRT) / Hon’ble Courts, etc for recovery of dues. These proceedingsare in various stagesof disposalbeforethe ”DRT” and respectiveHon’ble Courts.Windingup petitions has been filed by Bankof Indiaagainstthe company,beforethe Hon’ble High Court of Karnatakafor non-paymentof principal and the accrued interest thereon.

  • 5.7 The bankswhich had extendedfinancialfacilitiesto the companyhavetreated the outstandingfrom the companyas "Non-PerformingAssets" since 2009. In orderto achievethe desiredcongruencyon this issue,the Companyhasalsonot provided for interest amountingto INR 2,794.25 Iakhs on such outstanding amountsfor the quarter ended 30‘“ September 2020, due to various banks, though the confirmation of such dues were not made available to us from the respectivebanks/financialinstitutions.Hadthe saidinterestbeenprovidedinthe books in the normal course, the present loss for the quarter ended and six monthsended 30‘“ September 2020 would have been higherby INR 2,794.24 IakhsandINR 5,477.38 Iakhsrespectively.

Ourconclusionis notqualifiedin respectofthe abovematter.

ForSethiaPrabhadHegde & Co. CharteredAccountants‘ , , FirmRegistrationNo. 0133675 .. g

Place:Bengaluru Date:November13, 2020

SethiaPrabhadHegde& C0. Chartered Accountants

INDEPENDENT AUDITOR'S REVIEW REPORT[ON][REVIEW][OF][INTERIM][CONSOLIDATED] FINANCIALRESULTS

To the Board of Directors

Cranes Software International Limited

  • a. We have reviewed the accompanying[statement of][unaudited consolidatedfinancial] results(the 'Statement')of CranesSoftware[InternationalLimited (the 'HoldingCompany')] andits subsidiaries(the HoldingCompany[andits subsidiariestogetherreferredto as 'the] Group'), for the quarter ended 30[September][2020][and the][consolidatedyear to][date] resultsfor the period 1 April 2020[to][ 30][September][2020][beingsubmittedby the Holding] Companypursuantto the requirements[of][Regulation33][of the][SEBI (ListingObligations] andDisclosureRequirements)[Regulations,][2015][(asamended),includingrelevantcirculars] issuedbythe SEBIfromtimeto time.

  • b. This Statement,which is the[responsibilityof][the][HoldingCompany'smanagementand] approvedbythe Holding Company's[Boardof Directors,hasbeenpreparedin accordance] withthe recognitionandmeasurement[principleslaiddownin IndianAccountingStandard] 34, Interim Financial Reporting[('Ind][AS][34'),][prescribed under][section][133][of][the] CompaniesAct, 2013, andother[accountingprinciplesgenerallyacceptedin Indiaandis in] compliancewith the presentationand[disclosurerequirementsof][Regulation33][of][the] SEBI ListingObligationsand Disclosure[Requirements)Regulations,][2015][(as][amended),] includingrelevantcircularsissuedby the[SEBIfrom time to time.][Our responsibilityis to] expressa conclusionon the Statement[basedon ourreview.]

  • c. We conductedour review of the[Statementin accordancewith the][Standardon][Review] Engagements(SRE) 2410, 'Review of[Interim Financial InformationPerformedby][the] IndependentAuditor of the Entity',[issuedby the][Instituteof][CharteredAccountantsof] India.A review of interimfinancial[informationconsistsof][makinginquiries,primarilyof] Parent’s personnel responsible for[financial][and][accounting matters,][and][applying] analyticaland other review procedures.[A][review is][substantiallyless in][scope than an] audit conductedin accordance[with the][Standardson][Auditing specified under section] 143(10) of the Act, and consequently,[does not enable us to][obtain assurancethat we] would become aware of all[significantmattersthat][might be][identified in][an][audit.] Accordingly,we do not expressanaudit[opinion.]

We also performed procedures in accordance with the SEBI Circular CIR/CFD/CMD1/44/2019dated 29 March[2019][issuedby the SEBI underRegulation33 (8)] of the SEBI (Listing Obligations[and][Disclosure Requirements)Regulations,][2015][ (as] amended),to the extentapplicable.

21, lst Floor, ‘A’ Main Road, ‘E’ Block extension, Sanakar Nfiéar, Bangalore 660092.

('3‘.

  • d. Basedon our review conductedand proceduresperformedas statedin the paragraph 3 above,nothinghascometo ourattentionthatcausesusto believethatthe accompanying Statement,prepared in accordancewith recognitionand measurementprincipleslaid down in the aforesaid Indian Accounting Standard and other accounting principles generallyacceptedin India,has not disclosedthe informationrequiredto be disclosedin accordancewith the requirementsof Regulation33 of the SEBI (ListingObligationsand Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed,or that it containsany materialmisstatementexcept for the items mentionedinthe ”Emphasisof Matters” paragraph‘e‘ formingpartofthis report.

  • e. EmphasisOf Matters

  • Consolidatedfinancialstatementsof the companyincludescompiledfinancialsprepared andprovidedto us bythe Managementofthe Companyof the belowsubsidiaries: a) SystatSoftwareGmbh.

  • b) SystatSoftwareInc

  • c) CranesSoftwareInc

  • d) CranesSoftwareInternationalPteLimited,Singapore

  • The consolidatedunauditedfinancialresultsincludesfinancialinformationof four foreign subsidiarieswhich reflectstotal revenuesof INR 600.07 Iakhsfor the six monthsended 30‘“ September 2020, total net lossaftertax of INR 633.97 Iakhsfor the six monthsended30‘h September 2020 respectivelyas consideredin the consolidatedunauditedfinancialresults, basedonthe financialresultswhichhavenotbeenreviewedbytheir respectiveauditors.

  • Ourlimitedreviewreporthasto be readalongwith the ’Emphasisof Matter’ paragraphas appearingin our limitedreviewreportof evendate in respectof the standalonefinancials of CranesSoftwareInternationalLimited.

Ourconclusionis notqualifiedin respectofthe abovematter.

For SethiaPrabhadHegde & Co. CharteredAccountants Firm RegistrationNo.013 Q75

==> picture [30 x 8] intentionally omitted <==

----- Start of picture text -----

~ “New
.f‘”
----- End of picture text -----

Tim yyaH gde Partner ’ ' ‘ .. MembershipNo. 2262 607

UDIN-20226267AAAABH6799

Place:Bengaluru

Date: November 13, 2020

Enclosure: Annexure 1 List of entities included in the Statement

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIALREPORTS

Annexure 1

List of subsidiaries included in the statement

  • (a) AnalytixSystemsPrivateLtd

  • (b) CaravelInfoSystemsPrivateLtd

  • (c) CranesVarsityPrivatelimited

  • (d) EsqubeCommunicationSolutionsPrivateLtd

  • (e) Proland Software Private Ltd

  • (f) SystatSoftwareAsia PacificLtd

  • (g) TilakAutoTech PrivateLimited

  • (h) CranesSoftwareIntl.PteLtd

  • (i) SystatSoftwareGmbh

  • (j) Cranes Software Inc

  • (k) SystatSoftwareInc

==> picture [58 x 29] intentionally omitted <==

----- Start of picture text -----

314/“
V \I
----- End of picture text -----

More from Cranes Software International Ltd.

Board/Management Information 2026
May 30
Board/Management Information 2026
May 26
Declaration of Voting Results & Voting Rights Announcements 2026
May 12
Regulatory Filings 2026
Apr 16
Regulatory Filings 2026
Apr 16
Regulatory Filings 2026
Apr 14
Proxy Solicitation & Information Statement 2026
Apr 11
Interim / Quarterly Report 2026
Feb 13
Board/Management Information 2026
Feb 10
Regulatory Filings 2026
Jan 22
View all filings →