InfoBeans Technologies Limited - Interim / Quarterly Report 2024

Ground Floor, Tower – C Unit 1 Panchshil Tech Park One, Loop Road, Near Don Bosco School, Yerwada Pune – 411 006, India Tel: +91 20 6603 6000

Chartered Accountants

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Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors

Infobeans Technologies Limited

We have reviewed the accompanying statement of unaudited standalone financial results of Infobeans Technologies Limited (the “Company”) for the quarter ended September 30, 2023 and year to date from April 01, 2023 to September 30, 2023 (the “Statement”) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).
The Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (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 of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016

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Chartered Accountants

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 aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003

per Paul Alvares Partner Membership No.: 105754 UDIN: 23105754BGQURC8773 Place: Pune Date: October 31, 2023

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INFOBEANS TECHNOLOGIES LIMITED
CIN - L72200MP2011PLC025622
Registered Office -Crystal IT Park, STP-I 2nd Floor, Ring Road, Indore MP 452001 IN
Website : www.infobeans.com, Email : [email protected], Contact No. : 0731 - 7162000, 2102
Statement of unaudited standalone Cash Flows for the half year ended September 30, 2023
( In Lakhs)
Sr. Particulars For the half year ended For the half year ended
No. September 30, 2023 September 30, 2022
(Unaudited) (Unaudited)
A Cash flow from operating activities
Profit before tax 1,279 2,118
Adjustments for:
Add / (Less)
Depreciation and amortisation expenses 331 342
Loss/(Gain) on sale of investments-Realised (33) 7
Profit on redemption of mutual funds-Unrealised (25) -
Unrealised foreign exchange gain (2) -
Finance Cost 218 351
Interest income on fixed deposits (39) (31)
Interest income on fixed income securities (5) -
Employee stock option expenses 215 147
Operating profits before working capital changes 1,939 2,934
Adjustments for changes in:
Decrease / (increase) in other non current assets (12) -
Decrease / (increase) in other current assets 82 117
Decrease / (increase) in other financial assets (8) -
Decrease / (increase) in trade receivables (100) (66)
Increase / (decrease) in other current liabilities (160) 314
Increase / (decrease) in trade payables 347 116
149 481
Cash generated from operations 2,088 3,415
Taxes paid (net of refund) (458) (307)
Net cash flow from operating activities 1,630 3,108
B Cash flow from investing activities
Purchase of property, plant and equipment (7) (131)
Purchase of intangibles (57) -
Payment of consideration for investment in subsidiary - (4,562)
Proceeds from sale/ maturity of investments 6,145 1,441
Proceeds from sale/ maturity of deposits - 770
Investment in deposits (16) (1,101)
Purchase of current investments (6,298) -
Interest received 72 31
Net cash used in investing activities (161) (3,552)
C Cash flow from financing activities
Proceeds from issue of share capital 5 8
Proceeds/ (repayment) of short term borrowings (net) - 270
Repayment of interest on lease liabilities (30) (22)
Repayment of lease liabilities (147) (147)
Interest paid on working capital (0) (13)
Dividend Paid (243) (243)
Net cash used in financing activities (415) (147)
Net increase/ (decrease) in Cash and Cash Equivalents (A+B+C) 1,054 (591)
Opening cash and cash equivalents 680 671
Closing cash and cash equivalents 1,734 80
SN Particulars As at As at
September 30, 2023 September 30, 2022
Cash and cash equivalents consists of
(i) Cash in hand 0 1
(ii) Bank balances
- in current accounts 1,734 79
1,734 80
Amount is below Rs. 1 Lakh
Notes:
1 The above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 : on "Statement of Cash Flows".
2 Figures in brackets represent out flow of Cash and cash equivalents.
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Ground Floor, Tower – C Unit 1 Panchshil Tech Park One, Loop Road, Near Don Bosco School, Yerwada Pune – 411 006, India Tel: +91 20 6603 6000

Chartered Accountants

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Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Infobeans Technologies Limited

We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Infobeans Technologies Limited (the “Holding Company”) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”) for the quarter ended September 30, 2023 and year to date from April 01, 2023 to September 30, 2023 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”).
The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.
We conducted our review of the Statement in accordance with the Standard on Review Engagements (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 of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

The Statement includes the results of the following entities:

Infobeans Cloudtech Limited Infobeans INC Infobeans Technologies DMCC Infobeans Technologies LLC Infobeans Technologies Europe GmbH

S R B C & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Office: 22, Camac Street, Block ‘B’, 3rd Floor, Kolkata-700 016

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Chartered Accountants

Based on our review conducted and procedures performed as stated in paragraph 3 above , nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For S R B C & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003

per Paul Alvares Partner Membership No.: 105754 UDIN: 23105754BGQURD9598 Place: Pune Date: October 31, 2023

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INFOBEANS TECHNOLOGIES LIMITED
CIN - L72200MP2011PLC025622
Registered Office -Crystal IT Park, STP-I 2nd Floor, Ring Road, Indore MP 452001 IN
Website : www.infobeans.com, Email : [email protected], Contact No. : 0731 - 7162000, 2102
Statement of unaudited consolidated financial results for the quarter and half year ended September 30, 2023
( In Lakhs except per share Data)
Quarter Ended Half year ended Year ended
Particulars September 30,2023 June 30, 2023 September 30,2022 September 30,2023 September 30,2022 March 31, 2023
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Income
I Revenue from operations 9,088 9,160 9,946 18,248 19,566 38,532
II Other income (Refer Note 2) 429 277 213 706 425 1,352
III Total income (I+II) 9,517 9,437 10,159 18,954 19,991 39,884
Expenses
a) Employee benefits expense 6,706 6,908 6,710 13,614 13,033 26,907
b) Finance costs 146 147 185 293 407 781
c) Depreciation and amortisation expense 758 758 747 1,516 1,466 3,014
d) Other expenses 1,274 1,038 1,191 2,312 2,338 4,521
IV Total expenses 8,884 8,851 8,833 17,735 17,244 35,223
V Profit before tax(III-IV) 633 586 1,326 1,219 2,747 4,661
VI Tax expense
Current tax 334 357 249 691 626 1,478
Short/(excess) provision in respect of earlier year 8 - (23) 8 (43) (39)
Deferred tax expense/(income) (130) (117) 77 (247) (24) (374)
Total tax expenses 212 240 303 452 559 1,065
VII Profit for the period (V-VI) 421 346 1,023 767 2,188 3,596
VIII Other comprehensive income
Items that will not be reclassified to profit or loss in subsequent periods
- Remeasurement of the defined benefit obligations (23) (90) (48) (113) (63) (81)
- Income tax relating to above 7 26 14 33 18 24
Items that will be reclassified to profit or loss in subsequent periods
- Exchange differences in translating the financial statements of foreign operations 60 (30) 66 30 311 447
IX Total other comprehensive income/(loss) 44 (94) 32 (50) 266 390
X Total comprehensive income for the period (VII + IX) 465 252 1,055 717 2,454 3,986
XI Profit for the period attributable to
- Owners of the Company 421 346 1,023 767 2,188 3,596
- Non-controlling Interest - - - - - -
XII Total other comprehensive income attributable to
- Owners of the Company 44 (94) 32 (50) 266 390
- Non-controlling Interest - - - - - -
XIII Total comprehensive income attributable to
- Owners of the Company 465 252 1,055 717 2,454 3,986
- Non-controlling Interest - - - - - -
XIV Paid-Up equity share capital 2,429.84 2,429.23 2,425.08 2,429.84 2,425.08 2,425.08
(Face value of the Share is Rs.10 per share)
XV Reserves excluding revaluation reserves as per the balance sheet 24,729
XVI Earnings per share (of Rs 10/- each) (not annualised)
(1) Basic ( ) 1.73 1.42 4.23 3.16 9.02 14.83
(2) Diluted ( ) 1.72 1.42 4.20 3.14 8.99 14.74
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INFOBEANS TECHNOLOGIES LIMITED
CIN - L72200MP2011PLC025622
Registered Office -Crystal IT Park, STP-I 2nd Floor, Ring Road, Indore MP 452001 IN
Website : www.infobeans.com, Email : [email protected], Contact No. : 0731 - 7162000, 2102
Statement of unaudited consolidated Cash Flows for the half year ended September 30, 2023
( In Lakhs)
Sr. Particulars For the half year ended For the half year ended
No. September 30, 2023 September 30, 2022
(Unaudited) (Unaudited)
A Cash flow from operating activities
Profit before tax 1,217 2,747
Adjustments for:
Add / (Less)
Adjustment to reconcile profit before tax to net cash flows
Depreciation and amortisation expense 1,516 1,466
Loss/(Gain) on sale of investments - Realised (33) -
Profit on redemption of mutual funds and bond - Unrealised (163) 11
Provision for doubtful debts 303 240
Finance costs 293 407
Interest income on financial assets carried at amortised costs (99) -
Rent received on leased premises (179) (179)
Employee stock option expenses 226 147
Interest income - (88)
Unrealised Forex (Gain)/loss (21) (128)
Operating profits before working capital changes 3,060 4,624
Adjustments for changes in:
Decrease / (increase) in other non current assets (12) -
Decrease / (increase) in other financial assets 88 (299)
Decrease / (increase) in trade receivables (1,111) (614)
Increase / (Decrease) in non current financial liabilities 95 -
Increase / (Decrease) in other current liabilities (266) 419
Increase / (Decrease) in trade payables 193 (108)
Cash generated from operations 2,047 4,022
Taxes paid (net of refund) (633) (429)
Net cash flow from operating activities 1,414 3,593
B Cash flow from investing activities
Purchase of property, plant and equipment (46) (227)
Purchase of intangibles (32) -
Payment towards acquisition of subsidiary - (4,562)
Proceeds from sale/ maturity of investments 6,145 2,530
Investment in Mutual funds (6,425) (1,885)
Redemption of deposits with maturity of more than 3 months but less than 12 months - 770
Short-term deposits placed with banks (17) -
Investment in fixed deposits with original maturity of more than 3 months - (1,130)
Interest received on investment in mutual funds and deposits 126 149
Rent received from sub-leased premises 179 179
Net cash used in investing activities (70) (4,176)
C Cash flow from financing activities
Proceeds from issue of share capital 5 8
Proceeds of short term borrowings (net) - 270
Repayment of interest on lease liabilities (105) (79)
Repayment of lease liabilities (531) (517)
Dividend Paid (243) (243)
Interest Paid - (13)
Net cash flow used in financing activities (874) (574)
Net increase/ (decrease) in Cash and Cash Equivalents (A+B+C) 470 (1,157)
Opening cash and cash equivalents 3,333 4,109
Effect of exchange difference on translation of foreign currency cash and cash equivalents 12 81
Closing cash and cash equivalents 3,815 3,033
SN Particulars As at As at
September 30, 2023 September 30, 2022
Cash and cash equivalents consists of
(i) Cash in hand 1 1
(ii) Bank balances
- in current accounts 3,814 3,032
3,815 3,033
Notes:
1 The above Statement of Cash Flows has been prepared under the indirect method as set out in Ind AS 7 : on "Statement of Cash Flows".
2 Figures in brackets represent out flow of Cash and cash equivalents.
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INFOBEANS TECHNOLOGIES LIMITED CIN - L72200MP2011PLC025622 Registered Office -Crystal IT Park, STP-I 2nd Floor, Ring Road, Indore MP 452001 IN Website : www.infobeans.com, Email : [email protected], Contact No. : 0731 - 7162000, 2102 Notes:

1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on October 31, 2023 and were subjected to limited review by the Statutory Auditor.
2 Other income for the quarter and half year ended September 30, 2023 includes amount of Rs 134 Lakhs being a grant received by one of the subsidiary of the Group in United States on account of Employee retention credit under The Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020.
3 The Group operates in one segment i.e. Information Technology services. Accordingly, no separate segment disclosures as required under "Ind AS-108 : Operating Segments" have been presented.
4 The Code on Social Security, 2020 (‘Code’) relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
5 The above consolidated results are available on the Company's website - https://www.infobeans.com/investors and on the stock exchange at https://www.nseindia.com and https://www.bseindia.com

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For and on Behalf of Board of Directors of
InfoBeans Technologies Limited
Avinash Sethi
Place : Indore Director & Chief Financial Officer
Dated: October 31, 2023 DIN : 01548292
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InfoBeans Technologies Limited Interim / Quarterly Report 2024

61086_rns_2023-10-31_b7891c6e-71be-4983-9921-7babf714b920.pdf

Review Report to The Board of Directors

Chartered Accountants

Review Report to The Board of Directors Infobeans Technologies Limited

Chartered Accountants

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InfoBeans Technologies Limited — Interim / Quarterly Report 2024

61086_rns_2023-10-31_b7891c6e-71be-4983-9921-7babf714b920.pdf

Review Report to The Board of Directors

Chartered Accountants

Review Report to The Board of Directors Infobeans Technologies Limited

Chartered Accountants

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