InfoBeans Technologies Limited — Interim / Quarterly Report 2025

Jul 23, 2024

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To,

Date: 23[rd] July, 2024

The Listing and Compliance Department, The Manager, National Stock Exchange of India Limited Listing Dept. Exchange Plaza, 5[th] Floor, BSE Limited Plot No. C/1, G block, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra East, Mumbai – 400051 Mumbai‐400001 Script Code: SM – INFOBEAN MH‐ IN SYMBOL: INFOBEAN Scrip Code: 543644

Subject: Outcome of the Board Meeting 3/2024‐25 Reference : SM ‐ INFOBEAN

Dear Sir/Madam,

With reference to above mentioned subject we would like to inform you that a meeting of the Board of Directors of InfoBeans Technologies Limited was held on the Tuesday, 23[rd] July, 2024 commenced at 09:00 A.M. and concluded at 11:45 A.M. and following business were transacted at the meeting:‐

• To consider and approve the Un‐Audited Standalone & Consolidated Financial Results of the company for the first quarter ended on 30[th] June, 2024

This is for your information and record. Thanking you, Yours Faithfully,

For InfoBeans Technologies Ltd

Surbhi Digitally signed by Surbhi Jain Jain Date: 2024.07.23 11:45:01 +05'30' Surbhi Jain

Company Secretary and Compliance Officer

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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 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

1. We have reviewed the accompanying statement of unaudited standalone financial results of Infobeans Technologies Limited (the “Company”) for the quarter ended June 30, 2024 (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”).

2. 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.

3. 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.

[THIS SPACE HAS BEEN INTENTIONALLY LEFT BLANK]

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

Chartered Accountants

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1. 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

MUSTAFA M SALEEM

Digitally signed by MUSTAFA M SALEEM DN: cn=MUSTAFA M SALEEM, c=IN, o=Personal, email=mustafa.saleem@srb.in Date: 2024.07.23 11:29:43 +05'30'

per Mustafa Saleem

Partner Membership No.: 136969 UDIN: 24136969BKFGSU2354 Pune July 23, 2024

INFOBEANS TECHNOLOGIES LIMITED CIN - L72200MP2011PLC025622 Registered O�ce -Crystal IT Park, STP-I 2nd Floor, Ring Road Website : www.infobeans.com, Email : investor.relations@infobeans.co Statement of unaudited standalone financial results for the q	, Indore MP 452001 IN m, Contact No. : 0731 - 7162000, 2102 uarter ended 30 June 2024
	(� In Lakhs except per share Data)
Particulars	Quarter Ended			Year Ended
	30 June 2024	31 March 2024	30 June 2023	31 March 2024
	(Unaudited)	(Audited) Refer Note 2	(Unaudited)	(Audited)
Income I Revenue from operations II Other income III Total income (I+II) Expenses a) Employee benefits expense b) Finance costs c) Depreciation and amortisation expense d) Other expenses IV Total expenses V Profit Before Tax (III-IV) VI Tax expense Current tax Short/(excess) provision in respect of earlier year Deferred tax Total tax expenses VII Profit for the period (V-VI) VIII Other comprehensive income Items that will not be reclassified to profit or loss in subsequent periods - Remeasurement of the defined benefit obligations - Income tax relating to above IX Total other comprehensive income X Total comprehensive income for the period (VII + IX) XI Paid-Up equity share capital (Face value of the Share is Rs.10 per share) XII XIII Earnings per share (of Rs 10/- each) (not annualised) (1) Basic (�) (2) Diluted (�) Reserves excluding revaluation reserves as per the balance sheet	6,632 83	6,003 909	5,692 49	23,082 1,176
	6,715	6,912	5,741	24,258
	4,372 40 158 602	4,325 115 158 604	4,107 109 166 715	16,589 442 648 2,932
	5,172	5,202	5,097	20,611
	1,543	1,710	644	3,647
	321 - 80	218 0 * 26	235 - (55)	937 0 * (178)
	401	244	180	759
	1,142	1,466	464	2,888
	(46) 13	22 (7)	(69) 20	(69) 20
	(33)	15	(49)	(49)
	1,109	1,481	415	2,839
	2,436.88 4.69 4.67	2,429.84 6.04 5.99	2,429.23 1.91 1.90	2,429.84 24,552 11.89 11.80

*amount below Rs. 1 Lakhs

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INFOBEANS TECHNOLOGIES LIMITED
CIN - L72200MP2011PLC025622
Registered O � ce -Crystal IT Park, STP-I 2nd Floor, Ring Road, Indore MP 452001 IN
Website : www.infobeans.com, Email : investor.relations@infobeans.com, Contact No. : 0731 - 7162000, 2102
Notes to unaudited standalone financial results:
1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 23 July 2024 and were subjected to limited review by the Statutory
Auditors.
2 The figures for the quarter ended 31 March 2024 are the derived figures between audited figures in respect of full financial year ended 31 March 2024 and the unaudited published year to-date
figures up to 31 December 2023, being the date of end of the third quarter of the previous financial year which were subjected to limited review.
3 During the current quarter, the Company has reversed deferred consideration of Rs 1,348 lakhs in respect of acquisition of Infobeans Cloudtech Limited which is no longer payable based on a
settlement agreed with one of the sellers taking into account the expected level of performance of the entity. The corresponding carrying value of investment in subsidiary has also been
derecognised to the extent of the aforesaid amount.
4 During the quarter ended 30 June 2024, 70,400 equity shares of Rs 10/- each fully paid, were allotted upon exercise of the vested stock options pursuant to the Company's Employee Stock Option
Scheme, 2016 resulting in an increase in the paid-up share capital by Rs. 7 Lakhs and securities premium by Rs. 277 Lakhs.
5 The company 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.
6 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. Certain sections of the Code came into effect on 03 May 2023. However, the final rules/interpretation have not yet been issued. Based on a preliminary
assessment, the entity believes the impact of the change will not be significant.
7 The above standalone 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
For and on Behalf of Board of Directors of
InfoBeans Technologies Limited
Digitally signed by Avinash
Avinash Sethi Sethi Date: 2024.07.23 09:26:42
+05'30'
Avinash Sethi
Place : Indore Director & Chief Financial Officer
Dated: 23 July 2024 DIN : 01548292
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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 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

1. 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 June 30, 2024 (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”).

2. 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.

3. 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 Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

1. The Statement includes the results of the following entities:

Infobeans Cloudtech Limited Infobeans Inc. Infobeans Technologies DMCC Infobeans Technologies Europe GmbH Infobeans Technologies LLC

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

Chartered Accountants

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1. 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

Digitally signed by MUSTAFA M MUSTAFA SALEEM DN: cn=MUSTAFA M SALEEM, c=IN, o=Personal, M SALEEM email=mustafa.saleem@srb.inDate: 2024.07.23 11:31:07 +05'30'

per Mustafa Saleem Partner Membership No.: 136969 UDIN: 24136969BKFGSV5507 Pune July 23, 2024

INFOBEANS TECHNOLOGIES LI CIN - L72200MP2011PLC025 Registered O�ce -Crystal IT Park, STP-I 2nd Floor, Ring Website : www.infobeans.com, Email : investor.relations@infobea Statement of unaudited consolidated financial results for	MITED 622 Road, Indore MP 452001 IN ns.com, Contact No. : 0731 - 7162000, 2102 the quarter ended 30 June 2024
	(� In Lakhs except per share Data)
Particulars	Quarter Ended			Year Ended
	30 June 2024	31 March 2024	30 June 2023	31 March 2024
	(Unaudited)	(Audited) (Refer Note 2)	(Unaudited)	(Audited)
Income I Revenue from operations II Other income III Total income (I+II) Expenses a) Employee benefits expense b) Finance costs c) Depreciation and amortisation expense d) Other expenses e) IV Total expenses V Profit before tax(III-IV) VI Tax expense Current tax Short/(excess) provision in respect of earlier year Deferred tax Total tax expenses VII Profit for the period (V-VI) VIII Other comprehensive income/ (loss) Items that will not be reclassified to profit or loss in subsequent periods - Remeasurement of the defined benefit obligations - Income tax relating to above Items that will be reclassified to profit or loss in subsequent periods - Exchange differences in translating the financial statements of foreign operations IX Total other comprehensive income/ (loss) X Total comprehensive income for the period (VII + IX) XI Profit for the period attributable to - Owners of the Company - Non-controlling Interest XII Total other comprehensive income/ (loss) attributable to - Owners of the Company - Non-controlling Interest XIII Total comprehensive income attributable to - Owners of the Company - Non-controlling Interest XIV Paid-Up equity share capital (Face value of the Share is Rs.10 per share) XV XVI Earnings per share (of Rs 10/- each) (not annualised) (1) Basic (�) (2) Diluted (�) Reserves excluding revaluation reserves as per the balance sheet Impairment of Goodwill and Intangibles (net) (Refer Note 4)	9,696 307	9,694 316	9,160 277	36,852 1,523
	10,003	10,010	9,437	38,375
	6,854 65 670 1,279 -	6,821 140 672 1,128 61	6,908 147 758 1,038 -	26,954 576 2,939 4,754 61
	8,868	8,822	8,851	35,284
	1,135	1,188	586	3,091
	353 - 7	282 0 * (18)	357 - (117)	1,240 8 (404)
	360	264	240	844
	775	924	346	2,247
	(31) 9 (3)	43 (13) 18	(90) 26 (30)	(103) 30 52
	(25)	48	(94)	(21)
	750	972	252	2,226
	775 - (25) - 750 - 2,436.88 3.18 3.17	924 - 48 - 972 - 2,429.84 3.80 3.78	346 - (94) - 252 - 2,429.23 1.43 1.42	2,247 - (21) - 2,226 - 2,429.84 27,149 9.25 9.18

• amount below Rs. 1 Lakhs

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• INFOBEANS TECHNOLOGIES LIMITED CIN - L72200MP2011PLC025622

• Registered O � ce -Crystal IT Park, STP-I 2nd Floor, Ring Road, Indore MP 452001 IN

• Website : www.infobeans.com, Email : investor.relations@infobeans.com, Contact No. : 0731 - 7162000, 2102

• Notes to Unaudited Consolidated Results:

• 1 The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 23 July 2024 and were subjected to limited review by the Statutory Auditor. 2 The figures for the quarter ended 31 March 2024 are the derived figures between audited figures in respect of full financial year ended 31 March 2024 and the unaudited published year to-date figures up to 31 December 2023, being the date of end of the third quarter of the previous financial year which were subjected to limited review.

• 3 During the current quarter, the Group has reversed deferred consideration of Rs 1,348 lakhs in respect of acquisition of Infobeans Cloudtech Limited which is no longer payable based on a settlement agreed with one of the sellers taking into account the expected level of performance of the entity. The corresponding goodwill has also been derecognised to the extent of the aforesaid amount.

• 4 As at 31 March 2024, management tested the recoverability of carrying amounts of goodwill and intangible assets pertaining to business combinations as a part of its annual impairment assessment. Basis such assessment, the Group recognised an impairment loss of Rs. 61 lakhs (net of reversal of corresponding contingent consideration of Rs. 1,925 lakhs in respect of business acquisition which is no longer payable) for the quarter and year ended 31 March 2024.

• 5 During the quarter ended 30 June 2024, 70,400 equity shares of Rs 10/- each fully paid, were allotted upon exercise of the vested stock options pursuant to the Company's Employee Stock Option Scheme, 2016 resulting in an increase in the paid-up share capital by Rs. 7 Lakhs and securities premium by Rs. 277 Lakhs.

• 6 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. Certain sections of the Code came into effect on 03 May 2023. However, the final rules/interpretation have not yet been issued. Based on a preliminary assessment, the Group believes the impact of the change will not be significant.

• 7 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. 8 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 For and on Behalf of Board of Directors of InfoBeans Technologies Limited Digitally signed by

• Avinash Sethi Avinash Sethi Date: 2024.07.23 09:27:28 +05'30'

• Avinash Sethi

• Place : Indore Director & Chief Financial Officer Dated: 23 July 2024 DIN : 01548292