Latent View Analytics Limited — Regulatory Filings 2024

Jul 26, 2024

July 26, 2024

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001. Scrip Code: 543398

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex Bandra East, Mumbai 400 051 Scrip Symbol: LATENTVIEW

Dear Sir/Madam,

Sub: Outcome of the Board Meeting held on July 26, 2024

In continuation to our intimation dated June 26, 2024, and pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") as amended, we wish to inform you that based on the recommendation of Audit Committee, the Board of Directors at its meeting held on July 26, 2024, has inter alia approved/taken on record the following:

• 1. Unaudited Financial Results of the Company (Both Standalone and Consolidated) prepared in accordance with Indian Accounting Standards (Ind AS) for the quarter ended June 30, 2024, together with Limited Review Report of the Auditor's thereon. Enclosed herewith is a copy of the extract of the Financial Results.
• 1. Re-appointment of M/s. BDO India LLP as Internal Auditors of the Company for the Financial Year 2024-2025.

Disclosure pursuant to SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, is uploaded separately.

The meeting of the Board of Directors of the Company commenced at 12:15 p.m. IST and concluded at 03:00 p.m. IST

This announcement is also available on website of the company i.e., https://www.latentview.com/.

This is for your information and records.

Thanking you, For Latent View Analytics Limited

_________________ PARTHASAR ATHY SRINIVASAN Digitally signed by PARTHASARATHY SRINIVASAN Date: 2024.07.26 15:02:33 +05'30'

P. Srinivasan

Company Secretary and Compliance Officer

Chartered Accountants

KRM Tower, 1st and 2nd Floors No. 1, Harrington Road , Chetpet Chennai - 600 031, India Telephone: +91 44 4608 3100 Fax: +91 44 4608 3199

Limited Review Report on unaudited consolidated financial results of Latent View Analytics Limited for the quarter ended 30 June 2024 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Latent View Analytics Limited

• 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Latent View Analytics Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 30 June 2024 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
• 1. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared 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, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. 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. 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 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 mentioned in Annexure I to the Statement.
• 1. Attention is drawn to the fact that the figures for the three months ended 31 March 2024 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
• 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 the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed e • formation required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the m nner in which it is to be disclosed, or that it contains any material misstatement.

Registered Office

Limited Review Report (Continued)

Latent View Analytics Limited

1. We did not review the interim financial information of one subsidiary and one step down subsidiary included in the Statement, whose interim financial information reflects total revenues (before consolidation adjustments) of Rs.22.53 Million, total net (loss) after tax (before consolidation adjustments) of Rs. 11 .89 Million and total comprehensive income (before consolidation adjustments) of Rs. 0.68 Million, for the quarter ended 30 June 2024, as considered in the Statement. This interim financial information have been reviewed by other auditor whose report have been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary and step down subsidiary, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above.

Our conclusion is not modified in respect of this matter.

1. The Statement includes the interim financial information of two subsidiaries which have not been reviewed, whose interim financial information reflect total revenues (before consolidation adjustments) of Rs. 34.64 Million, total net loss after tax (before consolidation adjustments) of Rs. 6.15 Million and total comprehensive loss (before consolidation adjustments) of Rs. 1.09 Million for the quarter ended 30 June 2024, as considered in the Statement. According to the information and explanations given to us by the Parent's management, these interim financial information are not material to the Group.

Our conclusion is not modified in respect of this matter.

For B S R & Co. LLP Chartered Accountants Firm's Registration No.: 101248W/W-100022

V'-°'"(-.

Harsh Vardhan Lakhotia Partner Membership No.: 222432 UDIN:24222432BKGUEM4939

Chennai 26 July 2024

BS R & Co. LLP

Limited Review Report (Continued) Latent View Analytics Limited

Annexure I

List of entities included in unaudited consolidated financial results.

Sr. No	Name of component	Relationship
1.	Latent View Analytics Limited	Parent
2.	Latent View Analytics Corp, USA	Subsidiary
3.	LatentView Analytics UK Ltd	Subsidiary
4,	LatentView Analytics BV	Subsidiary
5.	LatentView Analytics Pte. Ltd, Singapore	Subsidiary
6.	LatentView Analytics GmbH, Germany	f n1rsidiary Step
		u

		Latent View Analytics Limited
		CIN No: L72300TN2006PLC058481
	Registered Office: 5th Floor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai - 600 113
	Website: www.latentview.com				Email - investorcare@latentview.com
	Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2024
					(₹ in Million)
		Quarter ended $30$ -Jun-23 $30$ -Jun-24 31-Mar-24			Year ended 31-Mar-24
	Particulars	(Unaudited)	(Audited) (Refer Note 4)	(Unaudited)	(Audited)
	Income from operations
	Revenue from operations	1,788.80	1,716.39	1,476.76	6,406.83
n	Other income	174.33	158.14	178.92	737.02
	$ $ Total income $ + $	1,963.13	1,874,63	1,655,68	7,143,85
	IV Expenses
	a)Employee benefits expense	1.215.73	1.143.30	1.003.36	4.338.92
	b)Finance costs	6.61	7.23	8.00	30,47
	c)Depreciation and amortisation expense	29.27	24.54	23.74	96.61
	d) Other expenses	190.46	169.18	192.68	707.60
	Total expenses (IV)	1,442.07	1,344.25	1,227.78	5,173.60
v	Profit before tax (III - IV)	521,06	530,28	427.90	1,970.25
	VI Tax expenses
	Current Tax	127.39	125.73	101.55	429.11
	Deferred Tax	1.11	(47.81)	(2.24)	(45.30)
	VII Profit for the period / year (V - VI)	389,26	452,36	328,59	1,586.44
	VIII Other comprehensive income / (loss)
	items that will not be reclassified subsequently to profit / (loss)
	Re-measurement (loss) / gain on defined benefit plans	2.36	(0.97)	(2.23)	(7.74)
	Income tax relating to items above	(0.69)	0,28	0.65	2.25
	Net other comprehensive income / (loss) not to be reclassified subsequently to profit / (loss)	1.67	(0.69)	(1.58)	(5.49)
	Items that will be reclassified subsequently to profit / (loss) Exchange differences in translating financial statements of foreign operations	0.08	3.01	(4.94)	32.98
	Net other comprehensive income / (loss) to be reclassified subsequently to profit / (loss)	0.08	3.01	(4.94)	32.98
	Other comprehensive income / (loss) for the period / year	1.75	2.32	(6.52)	27.49
	Ⅳ Total comprehensive income/(loss) for the period / year (VII+VIII)	391.01	454.68	322,07	1,613.93
	Paid-up equity share capital (Face value ₹ 1/- each)	206.00	205.90	204.90	205.90
	Other equity for the year				13,538.18
	Basic earnings per share	1.89	2.20	1.60	7.73
	Diluted earnings per share	1.88	2.18	1.59	7.68
		(not annualised)	(not annualised)	(not annualised)	(annualised)
	See accompanying notes to financial results

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$Anal_k$ é Ú $417$ E

Latent View Ana ics Limited CIN No : L72300TN2006PLC0S8481 Regis1ered Office: 5th Floor, Neville Tower, Unit 6, 7 and B, Ramanujan rr City, Ra"iv Gandhi Salai, Taramani. Chennai-600 113

Notes:

1. The above consolidated financial results for the quarter ended 30 June 2024 in respect of Latent View Analytics Limited Cthe Holding Company') have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 26 July 2024. The above resutts have been subject to limiled review by the statutory auditor of the Campany.

2. The consolidated financial results indude !he financial results of Latent View Analytics Umtted ('Parent Company') and the financial results of tts subsidiaries and step down subsidiary, La1ent View Analytics Corp, USA, LatentView Analytics UK Lid, LatentView Analytics BV (Netherlands), LatentView Analytics GmbH, Germany, LatenlView Analytics Pie. Ltd, Singapore (together called as the "Group").

3. These financial results have been prepared in accordance with Indian Accounting Standards (referred to as 'Ind AS') 34 - Interim Financial Statements prasclibed under Section 133 of the Campanies Act, 2013 read with Companies (Indian Accounting Standards) Rules and in terms of Regulation 33 of the SEBI (Listing ObOgations and Disdosure Requirements) Regulations, 2015.

4, The figures for the quarter ended 31 March 2024 are the balancing figures between audited figures in respect of the full financial years and published unaudited year lo date figures upto the end of third quarter of the relevant financial year, which were subject to limited review.

1. During the year ended 31 March 2022, the Holding Company had completed its initial public offer (IPO) of 30,489,362 equity shares of face value of'( 1 each at on Issue price of'( 197 per share, comprising fresh issue of 24,093,423 shares and offer for sale of 6,395,939 shares by selling shareholders. The Holding Company had received an amount off 4,466.78 million net of Company's share of IPO Expenses , 304.87 million (retained in the Monitoring Agency Account to the extent unpaid) from the proceeds of the fresh issue. Out of the Company's share of IPO Expenses ~ 256.59 million and related GST of f 31.87 million has been adjusled to securities premium.

Details of utilisation of IPO proceeds ("In million)
Objects of the Issue	Amount as proposed in offer	Utilised up to 30 June 2024	Un-utilised as on 30 June 2024
a) Funding inorganic grow1h initiatives	1,479.00	-	1,479.00
b) Funding working capital requirements of LatentView Analytics Corporation (Material Subsidiary)	824.00	824.00
c) Investment in our Subsidiaries to augment their capital base for future growth by way of equity, debt or any other instrument or combination thereof as determined by the board	1,300.00	1,300.00
d) General corporate purposes	863.78	863.78	-
Total	4,466.78	2,987.78	1,479.00

Net IPO proceeds which were un-utilised as at 30 June 2024 are held in cash and cash equivalents. Pursuant to the acquisition mentioned in Note 8, the un-utillsed amounts were fully utilised on 01 July 2024.

1. The Group is principally engaged in a single business segment viz., develop and deploy analytics solutions to its cus1omers.

2. The consolidated financial results for the lhree month period ended 30 June 2024, are available on the BSE Limited webstte (URL : www.bseindia.com), !he National Stacie Exchange of India Limited website (URL: www.nseindia.com) and on the company's webstte (URL: www.latentview.com)

3. On 28 March 2024 the Company had entered Into a s11are purcl'lase agreement (SPA) for the acqulsilion of Decision Point Private Limited (A Company in the space of Al- led Business Transformation and Revenue Growth Management) (Decision Point). On 1 July 2024 (date of acquisition) management complated the acqulsilion of 70% of the shares of Decision Point, pursuant to which II has become a subsl111ary Of the group effe<:tive 1 July 2024. The consideration pajd amounting lo INR 3.352,09 million (USD 40.15 million, which indudes amounts pertaining to net working capilal adjustment and cash and bank balance). The consideration for the remaining 30% of the shares would be based on the valuation principles in the SPA in one or more tranches before the close of June 2026, subject to fulfillment a.I certain conditions as outlined in the SPA. The said business combination does not impact the results for the quarter ended 30 June 2024.

Date: 26 July 2024 Place; London

Chartered Accountants

KRM Tower, 1st and 2nd Floors No. 1, Harrington Road , Chetpet Chennai - 600 031, India Telephone: +91 44 4608 3100 Fax: +91 44 4608 3199

Limited Review Report on unaudited standalone financial results of Latent View Analytics Limited for the quarter ended 30 June 2024 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Latent View Analytics Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Latent View Analytics Limited (hereinafter referred to as "the Company") for the quarter ended 30 June 2024 ("the Statement").
• 1. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared 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, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review.
• 1. 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. 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.
• 1. Attention is drawn to the fact that the figures for the three months ended 31 March 2024 as reported in the Statement are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
• 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 • ciples laid down in the aforesaid Indian Accounting Standard and other accounting principles erally accepted In India, has not disclosed the information required to be disclosed in terms of gulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it

Registered Office

141h Floor, Central B 1/\Jing and North C Wing. Nesco IT Park 4, Nesco

Limited Review Report (Continued) Latent View Analytics Limited

contains any material misstatement.

For B S R & Co. LLP

Chartered Accountants Firm's Registration No.:101248W/W-100022

Harsh Vardhan Lakhotia Partner Membership No.: 222432 UDIN:24222432BKGUEL5919

Chennai 26 July 2024

	Latent View Analytics Limited
Latontuiow	Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai - 600 113 Website twww.latentview.com	CIN No: L72300TN2006PLC058481 Registered Office: 5th Floor, Neville Tower, Unit 6,7 and 8,	Email: investorcare@latentview.com
	Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2024
					(₹ in Million)
		Quarter ended			Year ended
	Particulars	$30 - Jun-24$ (Unaudited)	31-Mar-24 (Audited) (Refer Note 3)	$30 - J$ un-23 (Unaudited)	31-Mar-24 (Audited)
Income from operations Revenue from operations		789,49	770.26	688.95	2,915.15
Other income Ħ		162.91	146.90	173.92	692.16
Total income $(l + ll)$ Ш		952,40	917.16	862.87	3.607.31
IV Expenses a)Employee benefits expense		443,32	410.48	376,39	1,597.06
b)Finance costs	c)Depreciation and amortisation expense	6,46 23,97	7.21 20.87	7.92 19.10	30.38 80,91
d)Other expenses		89.58	84.12	97.18	359.55
Total expenses (IV)		563.33	522.68	500.59	2,067.90
v	Profit before tax (III - IV)	389.07	394.48	362.28	1,539.41
VI Tax expenses
Current Tax Deferred Tax		108.62	97.56	100.69	399.59
		1.79	4.63	(2.24)	7.14
VII Profit for the period/year (V-VI)		278.66	292.29	263.83	1,132.68
	VIII Other comprehensive income / (loss) Items that will not be reclassified subsequently to profit / (loss) Re-measurement (losses) / gain on defined benefit plans	2.36	(0.96)	(2.23)	(7.74)
	Income tax relating to items that will not be reclassified subsequently to	(0.69)	0.28	0.65	2.25
profit / (loss)	Other comprehensive income / (loss) for the period / year	1.67	(0.68)	(1.58)	(5.49)
	IX Total comprehensive income / (loss) for the period/year (VII+VIII)	280.33	291.61	262.25	1,127.19
	Paid-up equity share capital (Face value ₹ 1/- each)	206,00	205.90	204.90	205.90
Other equity for the year					10,813,26
Basic earnings per share		1.35	1.42	1.29	5.52
Diluted earnings per share		1.34	1.41	1.27	5,48
	See accompanying notes to financial results	(not annualised)	(not annualised)	(not annualised)	(annualised)

Latent View Anal ·cs Umited CIN No : L72300TN2006PLC058481 Registered Office: 5th Floor, Neville Tower.Unit 6,7 and 8, Ramanujan IT City, Ra"iv Gandhi Salai.Taramani. Chennai -600 113

Notes:

1. The above standalone financial results far the quarter ended 30 June 2024 in respect of Latent View Analytics Limited ('the Company') have been reviewed by ihe Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 26 July 2024. The above results have been subject to limited review by the statutory auditor of the Company.

2. These standalone financial results have been prepared in accordance with Indian Accounting Standards (referred to as 'Ind AS') 34 - Interim Financial Statements prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

3. The figures for the quarter ended 31 March 2024 are the balancing figures between audited figures in respect of the full financial years and published unaudited year to date figures upto the end of third quarter of the relevant financial year, which were subject to limited review.

4. During the year ended 31 March 2022, the Company had completed its initial public offer (IPO) of 30,489,362 equity shares of face value off 1 each at an issue price off 197 per share, comprising fresh issue of 24,093,423 shares and offer for sale of 6,395,939 shares by selling shareholders. The Company had received an amount of f 4,466.78 million net of Company's share of IPO Expenses f 304.87 million (retained in the Monitoring Agency Account to the extent unpaid) from the proceeds of the fresh issue. Out of the Company's share of IPO Expenses i 256.59 million and related GST of i 31,87 million had been adjusted to securities premium.

Details of utilisation of IPO proceeds ("In million)
Objects of the lss ue	Amount as proposed in offer document	Utilised up to 30 June 2024	Un-utilised as on 30 June 2024
a) Funding inorganic growth initiatives	1,479.00		1,479.00
b) Funding wooong capital requirements of LatentView Analytics Corporation, our Material Subsidiary	824.00	824.00
c) Investment in our Subsidiaries to augment their capital base for future growth by way of equity, debt or any other instrument or combination thereof as determined by the board	1,300.00	1,300.00
dl General coroorate purposes	863.78	863.78
Total	4 466.78	2.987.78	1 479.0D

Net IPO proceeds which were un-utilised as at 30 June 2024 are held in cash and cash equivalents. Pursuant to the acquisition mentioned in Note 7, the unutilised amounts were fully uUlised on 1 July 2024.

1. The Company is principally engaged in a single business segment viz., develop and deploy analytics solutions to its customers.

2. The standalone financial results for the three month period ended 30 June 2024, are available on the BSE Limited website (URL : www.bseindia.com), the National Stock Exchange of India Limited website (URL: www.nseindia.com) and on the company's website (URL: www.latentview.com).

3. On 28 March 2024 the Company had entered into a share purchase agreement (SPA) for the acquisition of Decision Point Private Limited (A Company in the space of AJ. Led Business Transformation and Revenue Growth Management) (Decision Point). On 1 July 2024 (date of acquisition) management completed the acquisi~on of 70% of the shares of Decision Point, pursuant to which it has become a subsidiary of the company effective 1 July 2024. The consideration paid amounting to INR 3.352.09 million (USO 40.15 million, which includes amounts pertaining to net working capital adjustment and cash and bank balance). The consideration for the remaining 30% of the shares would be based on the valuation principles in the SPA in one or more tranches before the close of June 2026, subject to fulfillment of certain conditions as outlined in the SPA. The said business combination does not impact the results for the quarter ended 30 June 2024.

Place: Landan Chai erson & Whole lime Director

Date: 26 July 2024