IZMO Limited — Interim / Quarterly Report 2021

Aug 14, 2021

The Manager	The Manager – Listing Department
Corporate Relationship Department	National Stock Exchange of India Limited
Bombay Stock Exchange Limited	Exchange Plaza, 5th Floor
Floor 25, Phiroze Jeejeebhoy Tower	Plot No. C/1, G Block,
Dalal Street, Mumbai-400001	Bandra Kurla Complex,
	Bandra(E), Mumbai-400051
BSE Scrip Code: 532341	NSE Symbol: IZMO

Dear Sir/Madam,

Subject: Outcome of Board Meeting.

This is to inform you that the Board of Directors of Izmo Limited ('the Company') at its meeting held today i.e., August 14, 2021 has, inter alia:

• 1. Considered and Approved the Unaudited (Standalone and Consolidated) Financial Results of the Company for the quarter ended June 30, 2021 pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) along with Limited Review Report issued by Statutory Auditor of the Company.
• 1. The 26th Annual General Meeting (AGM) of the Members of the Company will be held through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) on Monday, September 20th, 2021.

Further, for the purpose of e-Voting (including remote e-Voting) at the 26th Annual General Meeting (AGM), the Members, whose names appear in the Register of Members / list of Beneficial Owners as on Monday, September 13, 2021 being the cut-off date (in terms of the Companies Act, 2013 and the rules made thereunder, as amended) shall be entitled to vote on the resolutions proposed for the said AGM.

• 1. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) the Share Transfer Books and Register of Members of the Company will remain closed from Tuesday, September 14, 2021 to Monday, September 20, 2021 (both days inclusive) for the purpose of Annual General Meeting.
• 1. On exercise of Employee Stock Option Plan 2013 (ESOP 2013) by employees of the Company, the Board of Directors approved the allotment of $1,67,200$ of Rs. 10/- each, fully paid-up Equity Shares of the Company to its employees.

The meeting was Commenced at 1:00 p.m. and concluded at 3:30 p.m. today.

We request you to take the same on record.

Yours faithfully, For IZMO Limited

Key Danish Reza Company Secretary and Compliance Officer

Enc: As Above

izmo Ltd. 177/2C, Bilekahalli Industrial Area, Bannerghatta Road, Bangalore-560 076, India Phone: +91 80 67125400 $\div$ +91 80 67125408 Fax Email : info@izmoltd.com

izmo

FINANCIAL | HIGH-GROWTH COMPANIES Asia-Pacific 2020 Ranked 322

						(Rs. in Lakhs)
			Quarter Ended		Year Ended
	Particulars	Un-Audited	Audited	Un-Audited	Audited	Audited
		30.06.2021	31.03.2021	30.06.2020	31.03.2021	31.03.2020
$\mathbf{1}$	Revenue from Operation	2,934.68	3,443.45	2,465.43	11,614.31	10,121.05
2	Other Income	78.26	289.48	35.60	2,279.81	847.27
3	Total Income	3,012.94	3,732.93	2,501.03	13,894.12	10,968.32
4	Expenses
	(a) Cost of Materials Consumed	٠	$\blacksquare$	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$	$\omega$
	(b) Purchase of traded Stock (Direct Cost)	10.21	78.76	15.84	218.74	42.71
	(c) Changes in Inventories	ù.				0.14
	(d) Employee Benefit Expense	1,430.35	1,128.1333.17743.38	1,127.8521.88	4,675.9487.22	4,418.79103.961,561.52
	(e) Financial Cost	16.55
	(f) Depreciation and Amortisation expense	305.39		369.50	2,206.11
	(g) Other Expenses	1,079.60	1,217.69	835.59	4,022.30	3,648.02
	Total Expenses	2,842.10	3,201.13	2,370.66	11,210.31	9,775.14
5	Profit/(Loss) before Exceptional/Extraodinary items and tax for theperiod (3-4)	170.84	531.80	130.37	2,683.81	1,193.18
6	Exceptional / Extraordinary items					٠
$\overline{7}$	Profit/(loss) before tax for the period(5-6)	170.84	531.80	130.37	2,683.81	1,193.18
8	Tax Expense:
	a) Current tax	۷	3.65		3.65	24.30
	b) Taxes of earlier years		4.60		4.60
	c) Deferred tax		17.51		9.70	53.69
9	Profit/(Loss) for the period (7-8)	170.84	506.04	130.37	2,665.86	1,115.19
10	Items that will be reclassified to profit or loss
	fair value changes on investment, net	ψ			$\overline{\phantom{a}}$
11	Items that will not be reclassified to profit or loss	$\blacksquare$	(2.51)		(2.51)
12	Total other Comprehensive Income	$\overline{\phantom{a}}$	(2.51)		(2.51)	6.916.91
13	Total Comprehensive Income for the Period	170.84	503.53	130.37	2,663.35	1,122.10
14	Paid-up Equity Share Captial (Face value Rs.10/- per share)	1,319.17	1,319.17	1,306.72	1,319.17
15	Reserves	22,426.62	22,235.32	19,715.34		1,306.72
16	Earnings Per Share (Face of share at Rs.10/- each) (not Annualised)				22,235.32	19,584.13
	(a) Basic
	(b) Diluted	1.30	3.84	1.00	20.38	8.53
		1.30	3.84	1.00	20.38	8.53
	ee accompanying notes to the Financial Results.

For 12MO Limited For IZMQ Limited san O Liman horised signatory Authorised Signatory

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

+91 80 67125400 Phone $\ddot{\cdot}$ : +91 80 67125408 Fax Email : info@izmoltd.com

M. No. 228938 Bangalore

ł.

Limited Review Report on unaudited quarterly Consolidated Financial Results of izmo Limited pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Review Report to The Board of Directors izmo Limited

I have reviewed the accompanying statement of unaudited quarterly Consolidated financial results of izmo Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit/(loss) after tax for the quarter ended June 30th, 2021 ("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. Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended June 30th 2021, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review.

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 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:

• 1. 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 after tax for the period 1st April 2021 to 30th June 2021 amounting to 2,934.68 lakhs and 170.84 lakhs respectively include the Financial results of the foreign Subsidiaries on the basis of management certified accounts provided to me.
  • 1. Reference is drawn to Note No. 8 of Notes to accounts forming part of the unaudited standalone financial results on Other Income. This includes an amount of Rs. 43.61 Lakhs pertaining to old credit balances written back subject to Confirmation.

I have conducted my review 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 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.

I have also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Guru Prakash V. B.Com., FCA Chartered Accountant

The Statement includes the results of the following companies:

Parent Company:

Izmo Limited

Subsidiary Companies:

• Izmo Europe BVBA $\bullet$
• Izmo Inc, US
• · Midrange Software Pte Ltd.
• Izmo France SARL
• Frog Data LLC $\bullet$
• Groupe Izmo

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.

The financial results of the subsidiaries included in the Group, whose results reflect total revenues of Rs. 2,330.82 Lakhs and total net profit after tax of Rs. 213.48 Lakhs for the quarter ended June 30th 2021 as considered in the consolidated unaudited financial results of the Group. These unaudited financial results and other unaudited financial information have been approved and furnished to me by the Management and my conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries is based solely on such unaudited financial results and other unaudited financial information.

M. No. 228958 Rangelore D ACC

Guru Prakash V Chartered Accountant Membership No.: 228938 Place: Bangalore Date: 14th August 2021 UDIN: 21228938AAAABS5396

297, 1st Floor, 35th Cross, 7th 'C' Main, Jayanagar 4th Block, Bangalore - 560 011, Karnataka, INDIA Ph.: +91-80-41666095, Mobile: +91 9900779562, E-mail: caguru.v4@gmail.com, guru@caguru.co.in izmo

statista sa

			(Rs. in Lakhs)
			Quarter Ended		Year Ended
	Particulars	Un-Audited	Audited	Un-Audited	Audited	Audited
		30.06.2021	31.03.2021829.8433.04	30.06.2020537.0233.67	31.03.20212,730.72123.06	31.03.20202,492.44226.67
1	Revenue from OperationOther Income	603.85
$\overline{2}$3	Total Income	62.11
		665.96	862.88	570.69	2,853.78	2,719.11
4	Expenses:(a) Cost of Materials Consumed
	(b) Purchase of traded Stock (Direct Cost)		÷,	$\overline{a}$
	(c) Changes in Inventories	10.21	78.76	15.84	218.74	42.71
	(d) Employee Benefit Expense	$\overline{a}$				0.14
		540.36	463.01	450.08	1,859.11	1,826.27
	(e) Finance Cost	12.30	32.13	19.09	81.30	95.50
	(f) Depreciation and Amortisation expense	34.38	28.85	15.58	101.95	209.12
	(g) Other Expenses	111.35	154.54	117.94	566.80	462.96
	Total Expenses	708.60	757.29	618.53	2,827.90	2,636.70
5	Profit/(Loss) before Exceptional/Extraordinary items and tax for theperiod (3-4)	(42.64)	105.59	(47.84)	25.88	82.41
6	Exceptional/Extraordinary items				$\overline{a}$
$\overline{7}$	Profit/(Loss) before tax for the period (5-6)	(42.64)	105.59	(47.84)	25.88	82.41
8	Tax Expense:
	a) Current tax		3.65		3.65	24.30
	b) Taxes of earlier years		4.60		4.60
	c) Deferred tax		17.51		9.70	53.69
9	Profit/(Loss) for the period (7-8)	(42.64)	79.83	(47.84)	7.93	4.42
10	Items that will be reclassified to profit or loss
	fair value changes on investment, net	$\blacksquare$	$\overline{\phantom{a}}$	ä,	$\omega$
11	Items that will not be reclassified to profit or loss	$\overline{a}$	(2.51)	Ξ	(2.51)	6.91
12	Total other Comprehensive Income		(2.51)		(2.51)	6.91
13	Total Comprehensive Income for the Period	(42.64)	77.32	(47.84)	5.42	11.33
14	Paid-up Equity Share Captial (Face value Rs.10/- per share)	1,319.17	1,319.17	1,306.72	1,319.17	1,306.72
15	Reserves	15,639.09	15,661.27	15,621.00	15,661.27	15,668.01
16	Earnings Per Share (Face of share at Rs.10/- each) (not Annualised)
	(a) Basic	(0.33)	0.61	(0.37)	0.06	0.03
	(b) Diluted	(0.33)	0.61	(0.37)	0.06	0.03
	See accompanying notes to the Financial Results.

For IZMO Limited For IZMO/Limited Lim1 O Authorised Signatory horised Signatory X anga

izmo Ltd. 177/2C, Bilekahalli Industrial Area, Bannerghatta Road, Bangalore-560 076, India Phone Fax Email

: +91 80 67125400 : +91 80 67125408 : info@izmoltd.com

RAK M. No. 228938 Bangalore

Limited Review Report on unaudited quarterly Standalone financial Results of izmo Limited pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Review Report to The Board of Directors izmo Limited

I have reviewed the accompanying statement of unaudited Standalone financial results of izmo Limited ('the Company') for the quarter ended June 30th, 2021 ('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 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:

• 1. The balance of Sundry Debtors, Inventories, Loans and Advances and Current Liabilities are subject to Confirmation and Reconciliation.
• 1. Reference is drawn to Note No. 8 of Notes to accounts forming part of the unaudited standalone financial results on Other Income. This includes an amount of Rs. 43.61 Lakhs pertaining to old credit balances written back subject to Confirmation.

I have conducted my 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 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: 14th August 2021 UDIN: 21228938AAAABR6040

FINANCIAL HIGH-GROWTH TIMES COMPANIES Asia-Pacific 2020 Ranked 322

Notes:

• $\mathbf{1}$ The above Un-audited Q1 results for the quarter ended 30th June, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 14-08-2021.
• Limited Review of the above results has been carried out by the Auditors. $\overline{2}$
• 3 Investors Grievances during the quarter: Received - Nil, Attended - Nil, Pending - Nil.
• The company has received 32 new contracts in Europe including Autosphere and Clara Automobile. $\overline{4}$
• 5 US client additions have topped 41 clients including Buymycar, Polk and Human AI Co.
• 6 The Company operates in one reportable segment only.
• Employee benefit expenses for the quarter ended 30th June, 2021 includes Rs. 20.46 lakhs expenses 7 recognised on account of Stock option offered to employees under ESOP Schemes, recognised over the vesting period.
• 8 Other income for the quarter ended 30th June, 2021 includes Rs. 43.61 lakhs pertains to old credit balances write back made & shown as other income in P&L.
• 9 Previous period figures have been re-grouped/reclassifed wherever necessary to conform to the current period presentation.

Place: Bengaluru Date: 14th August, 2021

For and on behalf of the Board

Sanjay Soni Lim Managing Director $n$ ga

Phone		$: +918067125400$
Fax		$\div$ +91 80 67125408
Email	$\ddot{\phantom{0}}$	info@izmoltd.com