CREATIVE NEWTECH LIMITED - Interim / Quarterly Report 2021

(Formerly known as Creative Peripherals and Distribution Limited)

Registered Office: 3rd and 4th Floor, Plot No 137AB, Kandivali Co Op Industrial Estate Limited, Charkop, Kandivali West, Mumbai – 400 067 Tel.: 91-22-5061 2700 | Email ID: [email protected] | Website: www.ecreativeindia.com | CIN: L52392MH2004PLC148754

To, The Officer-In-Charge (Listing) Listing Department National Stock Exchange of India Ltd., Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

Symbol: CREATIVE

SUB: OUTCOME OF BOARD MEETING HELD ON AUGUST 13, 2021

TIME OF COMMENCEMENT: 11:30 A.M. TIME OF CONCLUSION: 03:30 P.M.

Dear Sir,

In compliance with the provisions of Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 09.09.2015, we would like to inform your good office that the Board of Directors of the Company in their duly convened meeting held today i.e. Friday, the 13th August 2021 has inter alia discussed and approved the following:

1. Standalone as well as Consolidated Un-audited Financial Results along with Segment Results and notes for the Quarter ended June 30, 2021. Copy of the said Results is attached herewith as Annexure – A.
2. Limited Review Report issued by Statutory Auditors of the Company on the aforesaid Financial Results. Copy of the said Limited Review Report is attached herewith as Annexure – B.

The said results have been reviewed by Audit Committee in its meeting held on 13th August 2021 and thereafter duly approved and taken on record by the Board of Directors of the Company in their Meeting held today i.e. on 13th August 2021.

3. Recommended Annual Final Dividend of Re. 0.5/- per share on each Equity Share of face value of Rs. 10/- each fully paid up (i.e. 5% dividend on face value of share), subject to approval of the shareholders of the Company in the ensuing Annual General Meeting for the Financial Year 2020-21.

(Formerly known as Creative Peripherals and Distribution Limited)

4. Considered and approved Notice of upcoming 17th Annual General Meeting for the Financial Year ended on 31st March 2021 to be convened on Wednesday, 29th September 2021 at 11:00 AM, through "Video Conferencing ("VC") from Registered office of the Company.
5. Recommended the re-appointment of Mr. Ketan Patel (DIN 00127633) for period of 5 years, in ensuing Annual General Meeting as Chairman & Managing Director, whose period of office is liable to expire on March 31, 2022. Pursuant to the requirement of Regulation 30 read over with Para A (7) of Part A of Schedule III of SEBI LODR, Para A (7) of Annexure I to SEBI circular no. CIR/CFD/CMD/4/2015 dated 09.09.2015, the required information in this regard is given below:
- i. Name of Director Mr. Ketan Patel
- ii. Reason for change Re- appointment on retirement by rotation
- iii. Date of re-appointment (to be approved by Shareholders in their ensuing AGM)
- iv. Term of re-appointment For term of 5 years (From 01st April, 2022 to 31st March, 2027) and he will be liable to retire by rotation.
- v. Brief profile As per Annexure – C
- vi. Disclosure of relationships between directors Mr. Ketan Patel is the husband of Mrs. Purvi Patel, Whole Time Director of the Company.

Further, Mr. Ketan Patel is not debarred from holding the office of director pursuant to any SEBI order or any other such authority.

6. Recommended the re-appointment of Mrs. Purvi Patel (DIN 02663240) for period of 5 years, in ensuing Annual General Meeting as Whole-time Director, whose period of office is liable to expire on March 31, 2022. Pursuant to the requirement of Regulation 30 read over with Para A (7) of Part A of Schedule III of SEBI LODR, Para A (7) of Annexure I to SEBI circular no. CIR/CFD/CMD/4/2015 dated 09.09.2015, the required information in this regard is given below:
- i. Name of Director Mrs. Purvi Patel
- ii. Reason for change Re- Appointment after expiration of existing term
- iii. Date of re-appointment (to be approved by Shareholders in their ensuing AGM)
- iv. Term of re-appointment For term of 5 years (From 01st April, 2022 to 31st March, 2027) and she will be liable to retire by rotation.

(Formerly known as Creative Peripherals and Distribution Limited)

v. Brief profile As per Annexure – D
vi. Disclosure of relationships between directors Mrs. Purvi Patel is the wife of Mr. Ketan Patel, Chairman & Managing Director.

Further, Mrs. Purvi Patel is not debarred from holding the office of director pursuant to any SEBI order or any other such authority.

You are requested to take the same on your records.

Thanking you,

Yours faithfully,

For Creative Newtech Limited (Formerly known as Creative Peripherals and Distribution Limited)

Tejas Doshi Company Secretary and Compliance Officer ACS – 30828

August 13, 2021, Mumbai

Encl: a.a.

(Formerly known as Creative Peripherals and Distribution Limited)

Annexure – A

1. Unaudited Standalone Profit and Loss statement for quarter ended 30th June, 2021.
2. Unaudited Standalone Segment Reporting for quarter ended at 30th June, 2021
3. Notes on Standalone Financial Results
4. Unaudited Consolidated Profit and Loss statement for quarter ended 30th June, 2021.
5. Unaudited Consolidated Segment Reporting for quarter ended at 30th June, 2021
6. Notes on Consolidated Financial Results

(Formerly known as Creative Peripherals and Distribution Limited)

				(Amount in Rs. Lakhs, except EPS)
Particulars	Quarter ended			Year ended
	30.06.2021(Unaudited)	31.03.2021(Audited)	30.06.2020(unaudited)	31.03.2021(Audited)
Revenue from Operations	13,175.73	17,546.85	6,329.73	50,930.06
Other Income	199.14	167.86	7.74	617.35
Total Income	13,374.87	17,714.71	6,337.47	51,547.41
Expenses
(a)Purchases of Stock in Trade	11,974.41	16,387.87	4,461.70	46,788.85
Changes in inventories of finished goods and(b)
work-in
progress	(5.95)	(312.37)	1.207.41	(36.67)
Employee Benefits Expenses(c)	293.35	268.60	163.35	859.52
(d)Finance Costs	132.37	152.25	92.17	464.58
Depreciation and Amortisation Expense(e)	30.30	30.47	19.95	102.44
(f)Other Expenses	523.89	646.88	321.60	1,930.07
Total Expenses	12,948.37	17,173.70	6,266.17	50,108.79

Profit/(Loss) before Exceptional and Extraordinary Item	426.50	541.01	71.30	1,438.62
Exceptional and Extraordinary Item
Provision for Loss by Fire	17.69
Total Exceptional and Extraordinary Item	17.69
Profit/(Loss) before Tax	408.81	541.01	71.30	1,438.62
Tax Expense
Current Tax(a)	107.34	136.16	17.94	362.07
Tax adjustments relating to prior years(b)
Deferred Tax(c)	(0.58)	2.61	1.37	1.55
	106.76	138.77	19.32	363.62
Total Tax Expense
Profilt/(Loss) for the year	302.05	402.24	51.98	1,075.00
Other Comprehensive Income
Items that will not be reclassified to profit or loss(i)
(a) Remeasurements of Defined Benefit Plans		8.21		3.96
(b) Income Tax on above		(1.00)		(1.00)
Items that will be reclassified to profit or loss(ii)
Total Other Comprehensive Income for the year		7.21		2.96
Total Comprehensive Income for the year	302.05	409.45	51.98	1,077.96
Earnings per Equity Share of Rs. 10 par value :
Basic (Rs.per share)	2.60	3.53	0.45	9.29
Diluted (Rs. per share)	2.60	3.53	0.45	9.29

For Creative Newtech Limited

(Formerly known as Creative Peripherals and Distribution Limited)

Ketan Patel Chairman and Managing Director DIN - 00127633

(Formerly known as Creative Peripherals and Distribution Limited)

Unaudited Standalone Segment wise Revenue and Results For Quarter June 30, 2021
			(Amount in Rs. Lakhs, except EPS)
Particulars	Quarter ended			Year ended
	30.06.2021	31.03.2021	30.06.2020
	(Unaudited)	(Audited)	(unaudited)	(Audited)
Segment Revenue
- Imaging	860.01	1,774.51	1,627.69	7,978.61
- IT	6,221.97	8,115.58	3,111.43	25,596.39
- Others (Lifestyle, Security etc.)	6,093.75	7,656.76	1,590.61	17,355.06
Revenue from Operations	13,175.73	17,546.85	6,329.73	50,930.06
Segment Results
Net Revenue from each segment after deducting allocable cost
- Imaging	472.76	330.27	186.21	958.10
- IT	476.59	957.46	286.96	2,338.31
- Others (Lifestyle, Security etc.)	257.92	183.62	187.45	881.47
Total	1,207.27	1,471.35	660.62	4,177.88
Less: Finance Cost	132.37	152.25	92.17	464.58
Less: Unallocable cost	648.40	778.09	497.15	2,274.68

Total Profit before Tax	426.50	541.01	71.30	1,438.62


Unaudited Standalone Segment wise Assets and Liabilities as on Jun 30,2021
		Quarter Ended		Year Ended
Particulars	30-06-2021	31-03-2021	30-06-2020	31-03-2021
	Unaudited	Audited	Unaudited	Audited
Total Assest
- Imaging	945.84	1,194.46	2,494.22	1,194.46
- IT	7,663.83	7,333.51	4,339.63	7,333.51
- Others (Lifestyle, Security etc.)	2,474.08	1,171.12	1,247.53	1,171.12
Total	11,083.75	9,699.09	8,081.38	9,699.09
Total Liability
- Imaging	(11.45)	(295.41)	(355.98)	(295.41)
- IT	3,097.71	3,642.19	2,861.95	3,642.19
	0.04.44	CALLAN	0.00000	CALLAND

For Creative Newtech Limited (Formerly known as Creative Peripherals and Distribution Limited)

Ketan Patel Chairman and Managing Director DIN - 00127633

(Formerly known as Creative Peripherals and Distribution Limited)

Notes on Standalone Financial Results:

1. The above standalone financial results for the quarter ended June 30, 2021 were reviewed by the Audit Committee and thereafter taken on record by the Board in its meeting held on 13rd August, 2021 and also Limited Review were carried out by the Statutory Auditors.
2. The results for the year ended June 30, 2021 are available on the National Stock Exchange website (URL: www.nseindia.com) and on the Company's website URL: www.ecreativeindia.com.
3. The Company has changed the name officially from "Creative Peripherals and Distribution Limited" to "Creative Newtech Limited" w.e.f. 4th August, 2021. The name is approved by ROC and Certificate of Incorporation (Name change) has also been received vide dated August 4th, 2021.
4. This statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules,2015 (Ind AS) prescribed under section 133 of the companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
5. Due to outbreak of COVID 19 globally and in India, the Company's management has made initial assessment of likely adverse impact on business and financial risks on account of COVID 19 and believes that the impact is likely to be short term in nature. The Company's operation and revenue during the quarter were Impacted due to COVID 19. The company has taken into account the possible impact of COVID 19 in preparation of the unaudited standalone financial results including its assessment of recoverable value of its assets based on internal and external information upto the date of approval of these unaudited standalone financial results and current indicators of future economic conditions. The Company's management has evaluated the prospects of the company's products and its demand in this period and believes that these products will see demand as usual and is in a position to cater all the needs of the customers.

(Formerly known as Creative Peripherals and Distribution Limited)

6. On 8th June, 2021 an incident of fire was occurred at the Bangalore warehouse and a part of inventory of Rs. 2,11,08,250.37/- was damaged due to fire. The Inventory was fully insured with the Insurance company and the claim of Rs. 2,00,000,00/- for the above incident is also lodged for the loss of damaged inventory with the Insurance company on the same day itself. All the required details and information are submitted to the insurance company as and when asked for by the company. A part of damaged goods is sold as salvage and an amount of Rs. 12,00,000/- is recovered. An adhoc 10% of the damaged inventory's provision is made as loss on account of fire and the same is charged to profit and loss account.
7. Previous period/year figures have been regrouped/reclassified to make them comparable with those of current period.

For Creative Newtech Limited

(Formerly known as Creative Peripherals and Distribution Limited)

Ketan Patel Chairman and Managing Director DIN - 00127633

(Formerly known as Creative Peripherals and Distribution Limited)

	(Amount in Rs. Lakhs, except EPS)
	Quarter ended			Year ended
Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
Revenue from Operations	13,388.91	17,719.02	6,445.24	52.014.72
Other Income	199.14	167.86	7.79	617.40
Total Income	13,588.05	17,886.88	6,453.03	52,632.12

Expenses
(a)Purchases of Stock in Trade	12,109.05	16,396.46	4,530.35	47,367.69
(b)Changes in inventories of finished goods and
work-in	72.76
progress		(314.76)	1,239.03	133.65
(c) Employee Benefits Expenses	293.35	264.35	163.35	859.52
(d) Finance Costs	133.68	153.60	92.79	468.80
(e) Depreciation and Amortisation Expense	30.30	30.47	19.95	102.44
(f) Other Expenses	701.61	785.17	330.69	2,398.18
Total Expenses	13,340.75	17,315.29	6,376.16	51,330.28

Profit/(Loss) before Exceptional and Extraordinary Item	247.30	571.59	76.87	1,301.84

Exceptional and Extraordinary Item
Provision for Loss by Fire	17.69

Total Exceptional and Extraordinary Item	17.69

Profit/(Loss) before Tax	229.61	571.59	76.87	1,301.84

Tax Expense
Current Tax(a)	107.34	137.23	17.94	362.07
Tax adjustments relating to prior years(b)
Deferred Tax(c)	(0.58)	2.61	1.37	1.55
Total Tax Expense	106.76	139.84	19.32	363.62

Profilt/(Loss) for the year	122.85	431.75	57.55	938.22

Other Comprehensive Income
Items that will not be reclassified to profit or loss(i)
(a) Remeasurements of Defined Benefit Plans		8.21		3.96
(b) Income Tax on above		(1.00)		(1.00)
Items that will be reclassified to profit or loss(ii)

Total Other Comprehensive Income for the year		7.21		2.96

Total Comprehensive Income for the year	122.85	438.96	57.55	941.18
Equity Shareholders for Parent Company	166.88	444.87	51.70	957.99
Non controlling Interest	(44.03)	(5.91)	5.85	(16.81)

Earnings per Equity Share of `10 par value :
Basic (Rs. per share)	1.44	3.84	0.45	8.26
Diluted (Rs. per share)	1.44	3.84	0.45	8.26

For Creative Newtech Limited

(Formerly known as Creative Peripherals and Distribution Limited)

Ketan Patel Chairman and Managing Director DIN - 00127633

(Formerly known as Creative Peripherals and Distribution Limited)

		Unaudited Consolidated Segment wise Revenue and Results For Quarter June 30, 2021
			(Amount in Rs. Lakhs, except EPS)
Particulars		Quarter ended
	30.06.2021	31.03.2021	30.06.2020	31.03.2021
	(Unaudited)	(Audited)	(Audited)	(Audited)
Segment Revenue
- Imaging	860.01	1,774.51	1,627.69	7,978.61
- IT	6,304.94	8,284.97	3,116.33	26,269.42
- Others (Lifestyle, Security etc.)	6,223.96	7,659.54	1,701.22	17,766.69
Revenue from Operations	13,388.91	17,719.02	6,445.24	52,014.72
Segment Results
Net Revenue from each segment after deducting allocable cost
- Imaging	547.75	676.31	186.21	1,304.14
- IT	393.07	538.18	271.88	2,016.24
- Others (Lifestyle, Security etc.)	266.28	422.83	217.77	1,193.00
Total	1,207.10	1,637.32	675.86	4,513.38
Less: Finance Cost	133.68	153.60	92.79	468.80
Less: Unallocable cost	826.12	912.14	506.20	2,742.74
Total Profit before Tax	247.30	571.59	76.87	1,301.84

Unaudited Consolidated Segment wise Assets and Liabilities as on Jun 30, 2021

		Quarter ended
Particulars	30.06.2021	31.03.2021	30.06.2020	31.03.2021
	(Unaudited)	(Audited)	(Audited)	(Audited)
Segment Assets
- Imaging	945.84	1,194.46	2,494.22
- IT	8,339.63	7,539.50	4,499.83
	2,607.98
- Others (Lifestyle, Security etc.)Total Segments Assets	11,893.45	1,169.439,903.39	1,262.408,256.45

Segment Liabilities
- Imaging	(11.45)	(295.41)	(355.98)
- IT	2,970.83	3,109.01	3,030.90	Year ended1,194.467,539.501,169.439,903.39(295.41)3,109.01
- Others (Lifestyle, Security etc.)Total Segment Liabilities	323.893,283.27	21.562,835.16	346.523,021.44	21.562,835.16

For Creative Newtech Limited (Formerly known as Creative Peripherals and Distribution Limited)

Ketan Patel Chairman and Managing Director DIN - 00127633

(Formerly known as Creative Peripherals and Distribution Limited)

Notes on Consolidated Financial Results:

1. The above consolidated financial results for the quarter ended June 30, 2021 were reviewed by the Audit Committee and thereafter taken on record by the Board in its meeting held on 13rd August, 2021 and also Limited Review were carried out by the Statutory Auditors.
2. The results for the year ended June 30, 2021 are available on the National Stock Exchange website (URL: www.nseindia.com) and on the Company's website URL: www.ecreativeindia.com.
3. The Holding Company has changed the name officially from "Creative Peripherals and Distribution Limited" to "Creative Newtech Limited" w.e.f. 4th August, 2021. The name is approved by ROC and Certificate of Incorporation (Name change) has also been received vide dated August 4th, 2021.
4. This statement has been prepared in accordance with the companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under section 133 of the companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.
5. Due to outbreak of COVID 19 globally and in India, the Group's management has made initial assessment of likely adverse impact on business and financial risks on account of COVID 19 and believes that the impact is likely to be short term in nature. The Group's operation and revenue during the quarter were Impacted due to COVID 19. The group has taken into account the possible impact of COVID 19 in preparation of the unaudited consolidated financial results including its assessment of recoverable value of its assets based on internal and external information up to the date of approval of these unaudited consolidated financial results and current indicators of future economic conditions. The Group's management has evaluated the prospects of the Group's products and its demand in this period and believes that these products will see demand as usual and is in a position to cater all the needs of the customers.
6. Previous period/year figures have been regrouped/reclassified to make them comparable with those of current period.

For Creative Newtech Limited (Formerly known as Creative Peripherals and Distribution Limited)

Ketan Patel Chairman and Managing Director DIN - 00127633

(Formerly known as Creative Peripherals and Distribution Limited)

Annexure – B

1. Limited Review Report by Statutory Auditor on Standalone Financial Results for the quarter ended at 30th June, 2021
2. Limited Review Report by Statutory Auditor on Consolidated Financial Results for the quarter ended at 30th June, 2021

GUPTA RAJ & CO. CHARTERED ACCOUNTANTS

DELHI OFFICE: 101, KD BLOCK, PITAMPURA NEAR KOHAT ENCLAVE METRO STATION, NEW DELHI 110034 PH. NO. 011-47018333

MUMBAI OFFICE : 2-C, MAYUR APARTMENTS, DADABHAI CROSS RD. NO.3, VILE PARLE (WEST), MUMBAI, PIN 400056 PH. NO. 26210901, 26210902.

AHEMDABAD OFFICE: A-307 INFINITY TOWER, CORPORATE TOWER, PRAHALAD NAGAR, AHMEDABAD $PIN - 380015$ M. NO. 9726777733

NAGPUR BRANCH: 1ST FLR, MEMON JAMAD BUILDING, NR CENTRAL BANK, MASKASATH, ITWARI, NAGPUR - 440002 M. NO. 7387811111

Limited Review Report - Standalone Financial Results

To, The Board of Directors, CREATIVE NEWTECH LIMITED (Formerly Known as Creative Peripherals and Distribution Ltd.)

We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Creative Newtech Limited (Formerly Known as Creative Peripherals and Distribution Ltd.) ("the Company") for the quarter and three months ended on 30th June, 2021. This statement, which is the responsibility of the Company's Management and has been approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410 'Review of Interim Financial Information performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as stated above, nothing has come to our attention that causes us to believe that the accompanying Statement of unaudited standalone financial results, prepared in accordance with the Indian Accounting Standards and other recognised accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

PLACE: MUMBAI DATED: 13/08/2021 UDIN: 21112353AAAAFE3178

FOR GUPTA RAJ & CO. CHARTERED ACCOUNTANTS FIRM NO. 001687N

NIKUL NAWAL JALAN

NIKUL JALAN PARTNER Membership No.112353

GUPTA RAJ & CO. CHARTERED ACCOUNTANTS

DELHI OFFICE: 101, KD BLOCK, PITAMPURA NEAR KOHAT ENCLAVE METRO STATION, NEW DELHI 110034 PH. NO. 011-47018333 MUMBAI OFFICE: 2-C, MAYUR APARTMENTS, DADABHAI CROSS RD. NO.3, VILE PARLE (WEST), MUMBAI, PIN 400056 PH. NO. 26210901, 26210902. AHEMDABAD OFFICE: A-307 INFINITY TOWER, CORPORATE TOWER, PRAHALAD NAGAR, AHMEDABAD $PIN - 380015$ M. NO. 9726777733

NAGPUR BRANCH: 1ST FLR, MEMON JAMAD BUILDING, NR CENTRAL BANK, MASKASATH, ITWARI, NAGPUR - 440002 M. NO. 7387811111

Limited Review Report - Consolidated Financial Results

To, The Board of Directors, CREATIVE NEWTECH LIMITED (Formerly Known as Creative Peripherals And Distribution Ltd.)

We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Creative Newtech Limited (Formerly Known as Creative Peripherals and Distribution Ltd.) ("the Company") comprising its subsidiaries for the quarter ended 30th June, 2021 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

This statement, which is the responsibility of the Company's Management and has been approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review.

The consolidated financial result includes the results of the subsidiaries namely Creative Peripherals and Distribution Limited, Hong Kong and Secure Connection Limited, Hong Kong. However we did not reviewed the results of Creative Peripherals and Distribution Limited, Hong Kong and Secure Connection Limited Hong Kong for the Quarter ended financial results.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

We did not review the interim financial information of subsidiaries Creative Peripherals and Distribution Limited, Hong Kong and Secure Connection Limited, Hong Kong included in the consolidated unaudited financial results, whose interim financial information reflect assets of Rs. 250.02 and Rs. 1475.89 in Lakhs respectively as at June 30, 2021, revenues of Rs. 209.86 Lakhs and Rs. 187.45 Lakhs respectively for the quarter ended June 30, 2021, total net profit/ (loss) after tax before elimination of inter balance transactions between companies are of Rs. (6.53) Lakhs and Rs. (92.67) lakhs respectively for the quarter ended June 30, 2021.

These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the financial informations certified by management.

Our conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

PLACE: MUMBAI DATED: 13/08/2021 UDIN: 21112353AAAAFG8436

FOR GUPTA RAJ & CO. CHARTERED ACCOUNTANTS FIRM NO. 001687N

NIKUL NAWAL JALAN

NIKUL JALAN PARTNER Membership No. 0112353

(Formerly known as Creative Peripherals and Distribution Limited)

Annexure – C

Brief Profile of Mr. Ketan C. Patel – Chairman and Managing Director:

Mr Ketan C Patel founded Creative Newtech Limited (formerly known as Creative Peripherals and Distribution Limited) with his wife Ms Purvi Patel in the year 1992. His expertise lies in business development, business strategy, product marketing, business planning, key account management, team management, sales management, entrepreneurship, strategic planning, channel expertise and competitive analysis.

Mr Ketan Patel has an engineering degree. He is a MBA graduate from IIM Bangalore. He is a veteran entrepreneur who is always open to ideas and constantly looking forward to evolve the company and the people in it.

With over 30 years of industry experience, Mr. Ketan Patel is Company's principal entrepreneurial force and strategic visionary. Today Creative Peripherals is a Value-Added Distribution firm and entry specialist for all new brands, having its presence in PAN India and representing 30 global brands. Mr. Ketan Patel is a pioneer in the electronics and IT distribution industry. With innovative and forward thinking, he conceptualized many industry initiatives and practices. Over the years, he has developed critical and longstanding relationships with many of the industry's IT, Imaging, Lifestyle and Telecom brands.

Annexure – D

Brief Profile of Mrs. Purvi Patel, Whole-time Woman Director:

Ms. Purvi Patel is the co-founder of Creative Newtech Limited (formerly known as Creative Peripherals and Distribution Limited) along with her husband Mr. Ketan Patel and has been associated and well versed with Company and its client since over 30 years.

She also has various certificates in software programming and holds Diploma in Pharmacy.

She looks after overseeing the working capital and she is heading the HR / Administration, Logistics and Company's B2B web portal, www.ckartonline.com. She also looks after the product design and conception, Process set up & Public Relation activities. She has been the backbone and an integral part of the Company.

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CREATIVE NEWTECH LIMITED Interim / Quarterly Report 2021