Intrasoft Technologies Limited — Earnings Release 2022

Aug 12, 2021

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PRESS RELEASE

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Mumbai, 12 August 2021

INTRASOFT TECHNOLOGIES LIMITED REPORTS - RESULTS FOR Q1 FY 2021 22

IntraSoft Technologies Ltd. (BSE: 533181, NSE: ISFT) today announced its Results for the Quarter ended 30 June 2021.

Q1 FY 2021-22 HIGHLIGHTS:

Operating Cash Flow for the quarter was $1.65 million, as against $0.48 million in the comparable quarter last year.

MANAGEMENT’S STATEMENT ON THE E-COMMERCE BUSINESS

“We continue to add value to our brand partners,” said Arvind Kajaria, Managing Director. “This is evident in our consistent cash flow performance. We are bullish, and remain committed to deliver on their expectations. We look forward to strong growth.”

Other Highlights:

• Revenue for the quarter stood at $13.66 million, as against $14.44 million in the previous quarter and $28.26 million in the comparable quarter last year (COVID quarter).

• Accounts Payable at the end of 30 June was $3.87 million, as compared to $3.12 million same time last year. This reflects approximately 23.5 Accounts Payable Days on an annualized basis.

• Inventories at the end of 30 June was $12.85 million, as compared to $15.90 million same time last year. This reflects approximately 3.2 Inventory Turns on an annualized basis.

• Accounts Receivable at the end of 30 June was $0.21 million, as compared to $0.34 million same time last year. This reflects approximately 1.7 Accounts Receivable Days on an annualized basis.

Notes

1. The Company’s primary business is in the area of E-Commerce, carried out by its wholly owned subsidiary in the United States of America. Accordingly, the updates for E-Commerce reflect the consolidated performance of the E-Commerce division only, and not the consolidated operations of IntraSoft Technologies Ltd.

2. Accounts Payable reflects amounts due to our suppliers, carriers, fulfillment partners & payment services.

3. Inventories number reflects the total of goods in transit from suppliers to the fulfillment centers, inventories at the fulfillment centers & goods in transit to the customers (as the company recognizes revenue on delivery).

4. Net Working Capital numbers reflect updated numbers based on Accounts Payable & Inventories as per Notes 2 & 3 above.

ABOUT INTRASOFT TECHNOLOGIES LIMITED:

IntraSoft Technologies Limited owns & operates 123Stores, an E-Commerce Retailer.

123Stores, Inc. is an E-Commerce Retailer serving the US market. We harness our strong technology backbone that combines supply-chain logistics with real-time marketplace data, to create a compelling selling platform for our brand-partners. The Company is ranked #232 on the Internet Retailer’s 2019 Top 1000 list and is ranked #689 in Inc. 5000 (2017) list of fastest growing private US companies.

IntraSoft Technologies Limited also owns & operates 123Greetings.com, the world's leading online destination for human expressions reaching 95 million visitors annually.

FOR MORE INFORMATION PLEASE CONTACT:

Pranvesh Tripathi Company Secretary IntraSoft Technologies Limited 502A, Prathamesh, Rahguvanshi Mills Compound, Senapati Bapat Marg, Lower Parel. Mumbai – 400 013 Phone: 91-22-4004-0008| Fax: 91-22-2490-3123 | Email: intrasoft@itlindia.com

Ms. Purvangi Jain Business Development Head IntraSoft Technologies Limited Phone: 91-22-4004-0008| Fax: 91-22-2490-3123 | Email: purvangi.jain@itlindia.com

Mr. Anuj Sonpal Investor Relations Advisors Valorem Advisors Phone: 91- 9930609010 | Email: anuj@valoremadvisors.com

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:

This document includes certain forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company operates. IntraSoft Technologies Limited may make additional written and oral forward-looking statements and is under no obligation to update or alter its forward-looking statements to reflect actual results, changed assumptions or other factors.