IZMO Limited — Interim / Quarterly Report 2020

Aug 7, 2019

Date: 07.08.2019 Ref: IZMO/SEC/2019-ZO

The ManagerListing	The General Manager—Listing
BSE Ltd	of India LtdNational Stock Exchange
TowerFloor 25,Phiroze Ieejeebhoy	Plot No. C/1,G Block,
Mumbai-400001Dalal Street,	Bandra Knrla Complex,
	BandraUE), Mumbai—400051

Scrip Code: 532341/IZMO Sub: Outcome ofthe Board Meeting held on 07'" August, 2019 (Meeting Commenced at 3:00 PM) (Ended by at 5', 50 P M )

Dear sir/Madam,

In terms of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015, This is to inform you that the Board of Directors of IZMO Limited, Bangalore met today, at 03:00 PM as informed earlier, inter—alia:

1. Approved the Un—Audited Financial Results [Stand Alone and Consolidated) for the 1st quarter ended 30.06.2019;

2. The 24"? Annual General Meeting of the company is scheduled to be held on Wednesday, 25th September, 2019 at 9.30 AM at Bhartiya Vidya Bhavan, Race Course Road, Bengaluru—56000I.

3. The resignation of Mr Suraj Kumar Sahu has been accepted by the Board of Directors for his post of Company Secretary 85 Compliance Officer and he will be relieved from his service on 12'h September 2019.

Please treat this as compliance with the LODR, SEBI Guidelines and Corporate Laws.

Thanking you Yours faithfully For IZMO Limited

Mr. Suraj Kumar Sahu Company Secretary

Info@lzmoltd.com

izmo

	Statement of Consolidated Un-audited Financial Results for the Quarter 30-06-2019					(Rs. in Lakhs)
		Quarter Ended			Year Ended
	Particulars	Un-Audited	Audited	Audited	Audited	Audited31.03.2018
		30.06.2019	31.03.2019	30.06.2018	31.03.2019
$\mathbf{1}$	Revenue from Operation	2,108.89	3,408.20	1,774.15	9,216.52	6,298.66
$\overline{2}$	Other Income	56.23	196.48	75.12	395.04	507.48
3	Total Income	2,165.12	3,604.68	1,849.27	9,611.56	6,806.14
$\overline{a}$	Expenses
	(a) Cost of Materials Consumed	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$	$\omega$	$\cdot$	$\frac{1}{2}$
	(b) Purchase of traded Stock (Direct Cost)	10.87	13.02	17.56	72.26	71.62
	(c) Changes in Inventories	0.05	(0.33)	(4.30)	(4.57)	0.55
	(d) Employee Benefit Expense	960.47	1,338.37	801.30	3,815.94	2,961.29
	(e) Financial Cost	32.82	13.57	31.62	137.99	118.68
	(f) Depreciation and Amortisation expense	406.02	573.88	242.11	1,516.95	1,225.61
	(g) Other Expenses	679.82	1,547.55	588.71	3,333.00	1,533.37
	Total Expenses	2,090.05	3,486.06	1,676.99	8,871.57	5,911.12
5	Profit/(Loss) before Exceptional/Extraodinary items and tax for theperiod (3-4)	75.07	118.63	172.27	740.00	895.02
6	Exceptional / Extraordinary items	$\overline{\phantom{a}}$				191.22
$\overline{7}$	Profit/(loss) before tax for the period(5-6)	75.07	118.63	172.27	740.00	703.80
8	Tax Expense:
	a) Current tax	u,	(36.64)	۰	(36.64)	(34.54)
	b) MAT Credit		34.91		34.91
	c) Deferred tax		(61.86)		(61.86)	(64.11)
9	Profit/(Loss) for the period (7-8)	75.07	55.04	172.27	676.40	605.16
10	Items that will be reclassified to profit or loss
	fair value changes on investment, net	u,	i.		$\overline{a}$	$\overline{\phantom{a}}$
11	Items that will not be reclassified to profit or loss	$\overline{\phantom{a}}$	15.58	۷	15.58	23.07
12	Total other Comprehensive Income	٠	15.58	$\overline{a}$	15.58	23.07
13	Total Comprehensive Income for the Period	75.07	70.62	172.27	691.98	628.23
14	Paid-up Equity Share Captial (Face value Rs.10/- per share)	1,306.72	1,306.72	1,282.17	1,306.72	1,282.17
15	Reserves	18,503.57	18,428.50	17,820.45	18,428.50	17,648.18
16	Earnings Per Share (Face of share at Rs.10/- each) (not Annualised)
	(a) Basic	0.57	0.42	1.34	5.25	4.76
	(b) Diluted	0.57	0.42	1.34	5.25	4.76
	See accompanying notes to the Financial Results.			$\ddot{\phantom{a}}$

For IZMO Limited $\lambda$ Authorised Signatory

izmo Ltd. 177/2C, Bilekahalli Industrial Area, PangaloteBannerghatta Road, Bangalore-560 076, India

Phone: +91 80 67125400 : +91 80 67125408 Fax Email : info@izmoltd.com

IZMO Limited

Authorised Signatory

For

$Lin$

www.izmoltd.com CIN: L72200KA1995PLC018734

Limited Review Report

Review Report to The Board of Directors izmo Limited

I have reviewed the accompanying statement of Consolidated unaudited financial results of izmo Limited ("the Company') for the quarter ended June 30th, 2019 (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.

The preparation ofthe Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (1nd AS 34) prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. My responsibility is to issue a report on the Statement based on my review.

Based on my Limited Review conducted as above, I report as under:

• I. The balance of Sundry Debtors, Inventories, Loans and Advances and Current Liabilities are subject to Confirmation and Reconciliation.
• 1. The Consolidated Revenue and Net Profit for the period ended 30'" June 2019 amounting to Rs. 2,165.12 lakhs and Rs.75.07 lakhs respectively include the Financial results of the foreign Subsidiaries, which have been limited reviewed by me only for the purpose of Consolidated Financial results of the company, based on management certified accounts provided to me

I have conducted my review in accordance with the Standard on Review Engagements (SRE) 2410, Review oflnterim Financial Information Performed by the Independent Auditor ofthe Entity issued by the Institute of Chartered Accountants of India. This standard requires that I 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 provides less assurance than an audit, I have not performed an audit and accordingly, I do not express an audit opinion.

Based on my review conducted as above, nothing has come to my attention that causes me to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards ('lnd AS') specified under Section 133 of the Companies Act, 2013, read with relevant rules issued there under and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 ofthe 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.

Guru Prakash V Chartered Accountant Membership No.: 228938 Place: Bangalore Date : 07'h August 2019 UDIN: 19228938AAAAAU3461

izmo

						(Rs. in Lakhs)
		Quarter Ended			Year Ended
	Particulars	Un-Audited	Audited	Audited30.06.2018	Audited	Audited
		30.06.2019	31.03.2019		31.03.2019	31.03.2018
$\mathbf{1}$	Revenue from Operation	595.27	570.99	627.33	2,582.21	2,260.00
2	Other Income	54.57	62.29	75.12	229.12	463.38
3	Total Income	649.84	633.28	702.44	2,811.33	2,723.38
4	Expenses:
	(a) Cost of Materials Consumed				$\sim$	$\overline{\phantom{a}}$
	(b) Purchase of traded Stock (Direct Cost)	10.87	13.03	17.56	72.26	71.62
	(c) Changes in Inventories	0.05	(0.33)	(4.30)	(4.57)	0.55
	(d) Employee Benefit Expense	439.27	437.41	418.28	1,718.96	1,665.94
	(e) Finance Cost	26.64	19.19	31.62	136.08	118.68
	Depreciation and Amortisation expense(f)	50.58	110.10	56.77	262.53	121.16
	(g) Other Expenses	114.70	127.62	136.47	546.18	597.28
	Total Expenses	642.13	707.03	656.40	2,731.46	2,575.23
5	Profit/(Loss) before Exceptional/Extraordinary items and tax for theperiod (3-4)	7.71	(73.75)	46.04	79.87	148.15
6	Exceptional/Extraordinary items				٠
7	Profit/(Loss) before tax for the period (5-6)	7.71	(73.75)	46.04	79.87	148.15
8	Tax Expense:
	a) Current tax	٠	(36.64)	$\ddot{\phantom{1}}$	(36.64)	(34.54)
	b) MAT Credit	÷	34.91	w	34.91
	c) Deferred tax		(61.86)		(61.86)	(64.11)
9	Profit/(Loss) for the period (7-8)	7.71	(137.33)	46.04	16.28	49.50
10	Items that will be reclassified to profit or loss
	fair value changes on investment, net	$\overline{a}$	÷	÷.
11	Items that will not be reclassified to profit or loss	÷	15.58		15.58	23.08
12	Total other Comprehensive Income		15.58		15.58	23.08
13	Total Comprehensive Income for the Period	7.71	(121.75)	46.04	31.86	72.58
14	Paid-up Equity Share Captial (Face value Rs.10/- per share)	1,306.72	1,306.72	1,282.17	1,306.72	1,282.17
15	Reserves	15,630.86	15,623.16	15,549.00	15,623.16	15,502.96
16	Earnings Per Share (Face of share at Rs.10/- each) (not Annualised)
	(a) Basic	0.06	(1.05)	0.36	0.12	0.39
	(b) Diluted	0.06	(1.05)	0.36	0.12	0.39
	See accompanying notes to the Financial Results.

1ZMO Limited For Authorised Signatory

izmo Ltd. 177/2C, Bilekahalli Industrial Area, AngaloroBannerghatta Road, Bangalore-560 076, India

IZMO Limited For Authorised Signatory

Lim

Phone: +91 80 67125400 Fax: : +91 80 67125408 Email : info@izmoltd.com

www.izmoltd.com CIN: L72200KA1995PLC018734

Limited Review Report

Review Report to The Board of Directors izmo Limited

I have reviewed the accompanying statement of Standalone unaudited financial results of izmo Limited ('the Company') for the quarter ended June 30'", 2019 (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.

The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) prescribed under Section 133 ofthe Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules 2015 is the responsibility ot'the Company's management and has been approved by the Board of Directors of the Company. My responsibility is to issue a report on the Statement based on my review.

Based on my Limited Review conducted as above, I report as under:

1. The balance of Sundry Debtors, Inventories, Loans and Advances and Current Liabilities are subject to Continuation and Reconciliation.

I have conducted my review in accordance with the Standard on Review Engagements (SRE) 2410, Review oflnterim Financial Information Performed by the Independent Auditor ofthe Entity issued by the Institute of Chartered Accountants of India. This standard requires that I 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 provides less assurance than an audit. I have not performed an audit and accordingly, I do not express an audit opinion.

Based on my review conducted as above, nothing has come to my attention that causes me 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. read with relevant rules issued there under and other recognized 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.

Guru Prakash V Chartered Accountant Membership No.: 228938 Place: Bangalore Date: 07m August 2019 UDIN: 19228938AAAAAT4662

izmo

Notes:

• 1 The above Un—audited (11 results for the quarter ended 30th June, 2019 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 07-08—2019.
• 2 Limited Review of the above results has been carried out by the Auditors.
• 3 Investors Grievances during the quarter: Received — Nil, Attended — Nil, Pending - Nil.
• 4 The company has added 45 new clients in the last quarter in Europe including Opario, Acinauto, and Group Bernier.
• 5 The Company operates in one reportable segment only.
• 6 Employee benefit expenses for the quarter ended 30th June, 2019 includes Rs. 12.20 lakhs expenses recognised on account of Stock option offered to employees under ESOP Schemes, recognised over the vesting period.
• 7 The company has decided to accelerate the amortisation of Intellectual property development charges. This has led to an increase of Rs. 163.91lakhs of additional depreciation charged for the quarter ended 30.06.2019 as compared to the same quarter ended of previous year, on Consolidated basis.
• 8 As a result of the above Note No.6 & 7, the profit is reduced to the extent of Rs. 176.11 lakhs for the quarter ended 30.06.2019.

Place: Bengaluru For and on the Board Date: 7th August, 2019 / Sanjay 0/ Mana irec\tor .' v . l'lfll. . : inn/l"