i Power Solutions India Ltd. — Interim / Quarterly Report 2021

Jan 18, 2021

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Ref: BSE/IPWRS

18[th] January, 2021

The Deputy General Manager Department of Corporate Services BSE Limited 25[th] Floor, Phiroze Jeejeebhoy Towers Dalal Street, Mumbai 400 001

SCRIP Code: 512405

Dear Sir/Madam,

Sub: Outcome of the Board Meeting pursuant to Regulation 30 and Unaudited Financial Results for the Quarter and nine months ended 31st December, 2020 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 along with Limited Review Report

Pursuant to Regulation 30 and 33(3) (a) and (c) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation 2015, please note that the Board in its meeting held today has approved the following:

Un-Audited Financial Results for the quarter and nine months ended 31[st] December, 2020 along with Balance sheet, Cash flow statement and Limited Review Report.

As per listing regulations, the Company has also made arrangement for release of the Unaudited results in News Paper.

We further wish to inform you that the Board Meeting held today commenced at 12.00 Noon and concluded at 3.30 PM

Thanking you,

Yours Sincerely,

For iPower Solutions India Ltd.

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V.PARANDHAMAN CHAIRMAN

Encl: A/a

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IPOWER SOLUTIONS INDIA LIMITED CIN L72200TN2001PLC047456

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED DECEMBER 31, 2020

Sl. No.	Particulars	For the Quarter Ended	For the Quarter Ended	For the Quarter Ended	Nine Months Ended	Nine Months Ended	For the year Ended
		31.12.2020	30.09.2020	31.12.2019	31.12.2020	31.12.2019	31.03.2020
	Whether results are audited or unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Nature of Report Standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
1	Revenues
	(a) Income from operations	3.23	4.35	3.71	13.57	17.12	20.99
	(b) Other Income	0.00	0.00	0.00	0.00	0.00	0.00
	Total Revenue	3.23	4.35	3.71	13.57	17.12	20.99
2	Expenses
	a) Employee benefits expense	2.43	1.71	1.54	5.91	4.39	6.04
	b) Depreciation and amortisation expense	0.34	0.34	0.40	1.02	1.20	1.60
	c) Other expenses (Any item exceeding 10% of the total expenses relating to continuing operations to be shown separately)	0.00	0.00	0.00	0.00	0.00	0.00
	d) Any Item exceeding 10% of the total expenditure- Listing Fees	0.00	0.00	0.00	3.00	3.54	3.00
	e) Other expenses	1.14	2.37	1.66	4.33	6.96	10.15
	Total expenses	3.91	4.42	3.60	14.26	16.09	20.79
3	Profit / (Loss) before exceptional Items(1-2)	-0.68	-0.07	0.11	-0.69	1.03	0.20
4	Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00
5	Profit / (Loss) before tax (4-5)	-0.68	-0.07	0.11	-0.69	1.03	0.20
6	Tax Expenses
	a) Current Tax	0.00	0.00	0.00	0.00	0.00	0.10
	b) Deffered Tax	-0.02	0.01	0.00	-0.03	0.00	-0.05
7	Profit / (Loss) for the period (5-6)	-0.66	-0.08	0.11	-0.66	1.03	0.15
8	Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00	0.00
9	Total Comprehensive Income (7+8)	-0.66	-0.08	0.11	-0.66	1.03	0.15
10	Paid-up equity share capital	444.90	444.90	444.90	444.90	444.90	444.90
	(Face value of the share shall be indicated)	Rs.10.00	Rs.10.00	Rs.10.00	Rs.10.00	Rs.10.00	Rs.10.00
11	Earnings Per Share (before extraordinary items) (of Rs. /- each) (not annualised):	-0.01	0.00	0.00	-0.01	0.02	0.00
	a) Basic
	b) Diluted
12	Earnings Per Share (after extraordinary items) (of Rs. /- each) (not annualised):	-0.01	0.00	0.00	-0.01	0.02	0.00
	a) Basic
	b) Diluted

Date: 18/01/2021 By Order of the Board

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	Director
Notes:
a)	The above unaudited results for the quarter and nine months ended 31.12.2020 have been taken on record at the Board Meeting held on Monday, 18th January, 2021 at its Registered Office
b)	Previous year figures regrouped wherever necessary
c)	Investor Grievance: - NIL-
d)	The statutory Auditors of the company have carried out Limited Review of the above Unaudited Financial Results
	in terms of Reg 33 of theSEBI (Lisling Obligations and Disclosure Requirement) Regulalions, 2015

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	M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090.	M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090.	M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090.	M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090.
	BALANCE SHEET AS AT 31st December, 2020
			Amount in Rs.
Sl.No.	PARTICULARS		As at
			31st December, 2020	31st March, 2020
I	ASSETS: Non-current assets Property, Plant and Equipments		945,735 70,212,145 - - - - - 201,042 - - -	1,047,729 70,379,303 - - - - - 94,372 - - -
	Capital work-in-progress
	Investment properties Goodwill Other intangible Assets Investment accounted for using equity method Financial Assets i) Investments ii) Loans iii) Other financial assets Deffered tax assets Other Non-current assets TOTAL NON-CURRENT ASSETS (I) CURRENT ASSETS Inventories Financial Assets i) Investments ii) Trade Receivables iii) Cash And cash equivalents iv) Bank balance other than (iii) v) Loans vi) Other financial assets Other current assets Assets classified as held for sale TOTAL CURRENT ASSETS (II) TOTAL ASSETS (I+II)
			71,358,922	71,521,404
			70,622 112,384 - - - 190,127 -	19,045 142,928 - - - 110,954 -
			373,133	272,927
			71,732,055	71,794,331
II 1	EQUITY AND LIABILITIES Equity Equity Share Capital Other equity		44,490,000 147,491	44,490,000 223,549
	Equity components of compound financial investments Reserves and surplus Other reserves Equity attributable to owners Non controlling interest Total Equity
			44,637,491 -	44,713,549 -
			44,637,491 26,985,376 - - - 60,434 - -	44,713,549 26,964,618 - - - 63,444 - -
2 3	LIABILITIES Non- current liabilities Financial liabilities (i) Borrowings (ii) Other financial liabilities
	Provisions Employee benefit oblications Deffered tax liabilities Government Grands
	Other Non current liabilities
	TOTAL NON CURRENT LIABILITIES		27,045,810 - (2,116.12) - 50,870 - -	27,028,062 - - - 52,720 - -
4	Current Liabilities Financial liabilities (i) Borrowings (ii) Trade payables (a) Other financial liabilities
	Employee benefit oblications Current tax liabilities Government Grands Other current liabilities
	TOTAL NON CURRENT LIABILITIES TOTAL EQUITY AND LIABILITIES Significant accounting policies Notes on Financial Statements		48,754	52,720
			71,732,055	71,794,331
			By Order of the Board
			V.Parandhaman
			Director
			DIN: 00323551

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M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090. CASH FLOW STATEMENT FOR THE MONTH ENDED DECEMBER 2020

M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090. CASH FLOW STATEMENT FOR THE MONTH ENDED DECEMBER 2020	M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090. CASH FLOW STATEMENT FOR THE MONTH ENDED DECEMBER 2020	M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090. CASH FLOW STATEMENT FOR THE MONTH ENDED DECEMBER 2020	M/S. I POWER SOLUTIONS INDIA LIMITED NEW NO 17, VAIGAI STREET, BESANT NAGAR CHENNAI, TAMILNADU - 600090. CASH FLOW STATEMENT FOR THE MONTH ENDED DECEMBER 2020
	PARTICULARS	DECE 30, 2020	MARCH 31, 2020
		AMOUNT IN Rs	AMOUNT IN Rs
	CASH FLOW FROM OPERATING ACTIVITIES NET PROFIT BEFORE TAX AS PER STATEMENT OF PROFIT & LOSS ADJUSTED FOR DEPRECIATION INTEREST EXPENSES DEFFERED TAX OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES (A) ADJUSTED FOR (INCREASE) / DECREASE IN TRADE RECEIVABLES (INCREASE) / DECREASE IN SHORT TERM LOANS AND ADVANCES (INCREASE) / DECREASE IN LONG TERM LOANS AND ADVANCES (INCREASE) / DECREASE IN OTHER CURRENT ASSETS (INCREASE) / DECREASE IN OTHER NON-CURRENT ASSETS (INCREASE) / DECREASE IN OTHER FINANCIAL ASSETS, CURRENT INCREASE / (DECREASE) IN IN TRADE PAYABLES INCREASE / (DECREASE) IN OTHER CURRENT LIABILITIES CHANGES IN WORKING CAPITAL (B) TAXES PAID (C) I. NET CASH INFLOW FROM OPERATING ACTIVITIES (A+B-C) CASH FLOW FROM INVESTMENT ACTIVITIES MOVEMENTS IN LOANS ENHANCEMENT OF CAPITAL WORKING PROGRESS II. NET INFLOW FROM INVESTING ACTIVITY CASH FLOW FROM FINANCING ACTIVITIES REPAYMENT OF LONG-TERM BORROWINGS WORKING CAPITAL BORROWINGS III. NET INFLOW FROM FINANCING ACTIVITY NET INCREASE IN CASH AND CASH EQUILANT (I+II+III) OPENING BALANCE OF CASH AND CASH EQUIVALENTS CLOSING BALANCE OF CASH AND CASH EQUIVALENTS	(69,318) 100,380 - -	19,543 159,658 - -
		31,062	179,201
		(51,577) - (106,670) (79,174) - - - (9,986)	384,371 - 4,000 (106,054) - - - (81,076)
		(247,407)	201,241
		-	(84,210)
		(216,345)	296,232
		20,758 167,158	(12,000) -
		187,916	(12,000)
		(2,116)	(267,896)
		(2,116)	(267,896)
		(30,543) 142,928	16,336 126,592
		112,385	142,928
		By order of the Board
		V.Parandhaman
		DIN: 00323551 Director

MACHARLA & ASSOCIATES

Chartered Accountants

NEW NO.648, OLD NO.641, VENUS COMPLEX, (OPPT.TO SKY WALK), P.H ROAD, AMINJIKARAI, CHENNAI-600029 Phone: 044-42630413/ Mobile: 9380686899

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LIMITED REVIEW REPORT

We have reviewed the accompanying statement of Unaudited Financial Results of M/s. iPower Solutions India Limited for the period ended 31[st] December, 2020 except for the disclosures regarding ‘Public Shareholding’ and Promoter and Promoter Group Shareholding’ which have been traced from disclosures made by the management and have not been audited by us. This statement is responsibility of the Company’s Management and has been approved by the Board of Directors/Committee of Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2400, engagements to Review Financial Statements issued by the Institute of Charter Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Clause 41 of the Listing Agreement including the manner in which it is to be disclosed, or that it contains any material misstatement.

UDIN: 21223435AAAABF3374

For MACHARLA & ASSOCIATES

Chartered Accountants FRN: 013818S MACHARL Digitally signed by MACHARLA ROSAIAH A ROSAIAH Date: 2021.01.18 12:44:20 +05'30' (MACHARLA ROSAIAH) Partner M.No.223435

Place: Chennai Date : 18[th] January, 2021