Mindteck (India) Ltd — Interim / Quarterly Report 2025

Feb 5, 2025

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Mindteck (India) Limited (CIN: L30007KA1991PLC039702) Regd. Office: AMR Tech Park, Block 1, 3rd Floor #664, 23/24, Hosur Road, Bommanahalli Bengaluru - 560068. India

Tel: +91 80 4154 8000/4154 8300 Fax: +91 80 4112 5813

Ref: MT/SG/2024-25/57 February 05, 2025

www.mindteck.com Scrip Code: 517344 Symbol: “Mindteck”

To, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001.	To, National Stock Exchange of India Limited, Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051.

Dear Sir/Madam,

Subject: Submission of Financial Results pursuant to Regulation 33 and Outcome of the Board Meeting pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 held on February 05, 2025

We would like to inform you that the Board of Directors of the Company has approved the Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2024, at its meeting held on February 05, 2025, commenced at 12:30 p.m. IST and concluded at 02:10 p.m. IST.

Please find the enclosed:

1. Unaudited Standalone Financial Results for the Quarter and Nine Months ended December 31, 2024. 2. Unaudited Consolidated Financial Results of the Company and its Subsidiaries for the Quarter and Nine Months ended December 31, 2024.

2. Copy of the Limited Review Report by Statutory Auditor for Standalone Financial Results for the Quarter and Nine Months ended December 31, 2024.

3. Copy of the Limited Review Report by Statutory Auditor for Consolidated Financial Results for the Quarter and Nine Months ended December 31, 2024.

Further, the Nomination and Remuneration Committee granted 1,04,517 options under Mindteck Employees Stock Option Scheme 2005, 2008 and 2014, to the eligible employees making an adjustment to the outstanding stock options and its respective exercise prices, pursuant to the Bonus issue, out of which 54,167 options are granted to the Key Managerial Personnel.

You are requested to take the above intimation on record and acknowledge.

Thanking you, Yours Truly,

For Mindteck (India) Limited

Sathya Raja G

Digitally signed by Sathya Raja G Date: 2025.02.05 14:25:02 +05'30'

Sathya Raja G.

AVP, Legal and Company Secretary

UNITED STATES INDIA SINGAPORE MALAYSIA BAHRAIN UNITED KINGDOM

MINDTECK (INDIA) LIM A.M.R TECH PARK, BLOCK I, 3RD FLOOR, # 664 BOMMANAHALLI, BENGALU CIN:L30007KA1991PLC03 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE Q	MINDTECK (INDIA) LIM A.M.R TECH PARK, BLOCK I, 3RD FLOOR, # 664 BOMMANAHALLI, BENGALU CIN:L30007KA1991PLC03 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE Q	ITED , 23/24, HOSUR MAIN ROAD RU 560 068 9702 UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024	ITED , 23/24, HOSUR MAIN ROAD RU 560 068 9702 UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024	ITED , 23/24, HOSUR MAIN ROAD RU 560 068 9702 UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024	ITED , 23/24, HOSUR MAIN ROAD RU 560 068 9702 UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024	ITED , 23/24, HOSUR MAIN ROAD RU 560 068 9702 UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024	ITED , 23/24, HOSUR MAIN ROAD RU 560 068 9702 UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024
		(Rs. in Lakhs, except per share data)
Sl.No.	Particulars	Quarter ended			Nine months ended		Year ended
		December 31, 2024	September 30, 2024	December 31, 2023	December 31, 2024	December 31, 2023	March 31, 2024
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Income
2 3	a) Revenue from operations b) Other income Total income (a+b) Expenses a) Cost of technical sub-contractors b) Employee benefits expense c) Finance costs d) Depreciation and amortisation expense e) Other expenses Total expenses (a+b+c+d+e) Profit before tax and exceptional items (1-2)	3,587 108	3,917 132	3,467 105	11,648 351	10,359 316	13,969 428
		3,695	4,049	3,572	11,999	10,675	14,397
		116 2,517 23 119 479	120 2,570 3 109 661	94 2,440 11 107 345	317 7,583 32 337 2,183	264 7,198 37 322 1,178	356 9,756 45 432 1,671
		**3,254 **	3,463	**2,997 **	**10,452 **	8,999	12,260
		441	586 -	575	1,547	1,676	2,137
4	Exceptional items - Reversal of provision for impairment of loan given to MEWT (refer note 6)	-		-	-	-	229
5	Profit before tax (3+4)	441	586	575	1,547	1,676	2,366
			168 - (23)
6	Tax expense (net)
	Current tax Tax relating to earlier years Deferred tax charge/(credit)	167 - (55)		148 - (15)	409 - (18)	443 - (20)	575 - (36)
7 8 9	Total tax expense Profit for the period/year (5-6) Other comprehensive income/(loss) Items that will not be reclassified subsequently to profit or loss Remeasurement gain/(loss) on defined benefits plan Income tax relating to items that will not be reclassed to profit or loss Other comprehensive income/(loss) for the period/year net of taxes Total comprehensive income for the period/year (7+8)	112	145	133	391	423	539
		329	441	442	1,156	1,253	1,827
		7 (2)	(23) 6	(2) -	27 (7)	10 (3)	(21) 5
		5	(17)	(2)	20	7	(16)
		334	424	440	1,176	1,260	1,811
10 11	Paid-up equity share capital (Face value of Rs. 10 per share) Other equity	3,185 -	3,185 -	2,532 -	3,185	2,532	2,535 13,755
12	Earnings per share (Not annualised inthe case of the interimperiod )
	Basic (in Rs.) Diluted(in Rs.)	1.03 1.02	1.39 1.37	1.39 1.38	3.63 3.61	3.96 3.94	5.78 5.72
See accompanying notes to the financial results.

MINDTECK (INDIA) LIMITED A.M.R TECH PARK, BLOCK I, 3RD FLOOR, # 664, 23/24, HOSUR MAIN ROAD BOMMANAHALLI, BENGALURU 560 068 CIN:L30007KA1991PLC039702

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024

Notes :

• 1 The above statement of unaudited standalone financial results ('the Statement') of Mindteck (India) Limited ('the Company') for the quarter and nine months ended December 31, 2024, have been reviewed by the Audit Committee and thereafter approved by the Board of Directors in their meeting held on February 05, 2025.

• 2 These standalone financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013, read with the relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

• 3 In accordance with Ind AS 108, Operating segments, segment information has been provided in the consolidated financial results of the Company and therefore no separate disclosure on segment information is given in these standalone financial results.

• 4 During the nine months ended December 31, 2024, 131,667 ESOPs were exercised by employees under various Mindteck Employee Stock Option Scheme, resulting in increase in equity share capital by Rs.13 lakhs and securities premium account by Rs.184 lakhs including transfer from ESOP reserve to securities premium account.

• 5 The Company amended the objectives of the Mindteck Employees Welfare Trust (‘Trust’) to include employee welfare activities, following the winding-up of the ESOP Scheme 2020 administered by the Trust, effective from November 12, 2024. As a result of this amendment, the Company has merged the financials of the Trust with its Standalone Financial Statements effective November 12, 2024. Consequently, interest income of Rs. 3 Lakhs earned on a Fixed Deposit held by the Trust is now included in the Other Income of the Company’s Standalone Financial Statements. Additionally, total reserves of Rs. 613 lakhs, comprising Rs. 548 lakhs from profit on the Sale of Shares and Rs. 65 lakhs in accumulated reserves of the Trust, are now part of the reserves in the Standalone Financial Statements and are designated for the benefit of the Company’s employees. The change has no impact on Consolidated financial statement.

6 Exceptional Items

Mindteck Employee Welfare Trust (the Trust) held 416,000 equity shares of the Company. The Trust acquired the shares, with funds provided by the Company by way of loan to the Trust. The Trust was set up with the objective of supporting employees share-based compensation plan (ESOP). During the year ended March 31, 2024, the existing ESOP Scheme was woundup and a portion of the shares held by the Trust were sold as permitted by SEBI Regulations. The funds generated from sale were used to repay the loan to the Company. Accordingly, provision of Rs. 229 Lakhs towards the loan to the Trust, carried in the standalone financial statements of the Company was reversed, as an exceptional item.

During the nine months ended December 31, 2024, additional 224,449 shares were sold and the proceeds were used for repayment of balance loan of Rs. 30 lakhs. Loan receivable from the Trust as on December 31, 2024 is Rs. NIL (March 31, 2024: Rs. 30 lakhs).

for and on behalf of the Board of Directors of Mindteck (India) Limited Anand Balakrishnan CEO and Managing Director Place : California, USA Date : February 5, 2025

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE Q CIN:L30007KA1991PLC039 BOMMANAHALLI, BENGALUR A.M.R TECH PARK, BLOCK I, 3RD FLOOR, # 664, MINDTECK (INDIA) LIMIT	STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE Q CIN:L30007KA1991PLC039 BOMMANAHALLI, BENGALUR A.M.R TECH PARK, BLOCK I, 3RD FLOOR, # 664, MINDTECK (INDIA) LIMIT	(Rs. in Lakhs, except per share data) UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 702 U 560 068 23/24, HOSUR MAIN ROAD ED	(Rs. in Lakhs, except per share data) UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 702 U 560 068 23/24, HOSUR MAIN ROAD ED	(Rs. in Lakhs, except per share data) UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 702 U 560 068 23/24, HOSUR MAIN ROAD ED	(Rs. in Lakhs, except per share data) UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 702 U 560 068 23/24, HOSUR MAIN ROAD ED	(Rs. in Lakhs, except per share data) UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 702 U 560 068 23/24, HOSUR MAIN ROAD ED	(Rs. in Lakhs, except per share data) UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 702 U 560 068 23/24, HOSUR MAIN ROAD ED
Sl.No.	Particulars	Quarter ended			Nine months ended		Year ended
		December 31, 2024	September 30, 2024	December 31, 2023	December 31, 2024	December 31, 2023	March 31, 2024
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1 2 3 4 5 6 7 8 9 10 11	Income a) Revenue from operations b) Other income Total income (a+b) Expenses a) Cost of technical sub-contractors b) Employee benefits expense c) Finance costs d) Depreciation and amortisation expense e) Other expenses Total expenses (a+b+c+d+e) Profit before tax and exceptional items (1-2) Exceptional items - Provision for restructuring cost (note 10) Profit before tax (3+4) Tax expense (net) Current tax Tax relating to earlier years Deferred tax charge/(credit) Total tax expense Profit for the period/year (5-6) Other comprehensive income/(loss) Items that will be reclassified subsequently to profit or loss Net exchange difference on translation of foreign operation Items that will not be reclassified subsequently to profit or loss Re-measurement gain/ (loss) on defined benefit plans Income tax relating to items that will not be reclassed to profit or loss Other comprehensive income/(loss) for the period/year, net of taxes Total comprehensive income for the period/year (7+8) Paid-up equity share capital (Face value of Rs. 10 per share) Other equity	10,402 183	10,823 175	9,575 152	32,040 554	28,763 480	38,553 646
		10,585	10,998	9,727	32,594	29,243	39,199
		2,301 5,997 37 124 1,194	2,692 6,019 19 114 1,253	2,152 5,949 22 111 620	7,441 17,979 74 351 3,951	6,571 17,538 70 333 2,164	8,846 23,497 89 447 2,967
		9,653	10,097	8,854	29,796	26,676	35,846
		932 -	901 -	873 -	2,798 (173)	2,567 -	3,353 -
		932	901	873	2,625	2,567	3,353
		194 - (55)	167 - (23)	169 - (15)	455 - (18)	504 - (20)	693 (35) (36)
		139	144	154	437	484	622
		793	757	719	2,188	2,083	2,731
		(56) 7 (2)	347 (23) 6	152 (2) -	282 27 (7)	115 10 (3)	50 (21) 5
		(51)	330	150	302	122	34
		742	1,087	869	2,490	2,205	2,765
		3,185 -	3,185 -	2,490 -	3,185 -	2,490 -	2,512 19,579
12	Earnings/ (Loss) per share (Not annualised in case of interim periods)
	Basic (in Rs.) Diluted (in Rs.)	2.49 2.47	2.38 2.36	2.31 2.27	6.90 6.82	6.70 6.56	8.69 8.50

See accompanying notes to the financial results

	STATEMENT OF UNAUDITED CONSOLID A.M.R TE	BOMMANAHALLI, BENGALURU 560 068 CIN:L30007KA1991PLC039702 ATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 MINDTECK (INDIA) LIMITED CH PARK, BLOCK I, 3RD FLOOR, # 664, 23/24, HOSUR MAIN ROAD	BOMMANAHALLI, BENGALURU 560 068 CIN:L30007KA1991PLC039702 ATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 MINDTECK (INDIA) LIMITED CH PARK, BLOCK I, 3RD FLOOR, # 664, 23/24, HOSUR MAIN ROAD	BOMMANAHALLI, BENGALURU 560 068 CIN:L30007KA1991PLC039702 ATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 MINDTECK (INDIA) LIMITED CH PARK, BLOCK I, 3RD FLOOR, # 664, 23/24, HOSUR MAIN ROAD	BOMMANAHALLI, BENGALURU 560 068 CIN:L30007KA1991PLC039702 ATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 MINDTECK (INDIA) LIMITED CH PARK, BLOCK I, 3RD FLOOR, # 664, 23/24, HOSUR MAIN ROAD	BOMMANAHALLI, BENGALURU 560 068 CIN:L30007KA1991PLC039702 ATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 MINDTECK (INDIA) LIMITED CH PARK, BLOCK I, 3RD FLOOR, # 664, 23/24, HOSUR MAIN ROAD	BOMMANAHALLI, BENGALURU 560 068 CIN:L30007KA1991PLC039702 ATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 MINDTECK (INDIA) LIMITED CH PARK, BLOCK I, 3RD FLOOR, # 664, 23/24, HOSUR MAIN ROAD
Notes 1 2 3 4 5 6 7 8 9 10	: Geographical segments The Company has consolidated the financial statements of the Trust with that shares (year ended March 31, 2024: 191,551) shares held by it at an average post tax, generated from the sale of shares has been credited to equity reserves. Rs. 196 lakhs and other equity by Rs. 371 lakhs (towards profit from sale of s are merged with the financial statement of the standalone financial statement wi Based on the "management approach" as defined in Ind AS 108 - Operating S indicators by geographical areas. Accordingly, information has been presented i The accounting principles consistently used in the preparation of the consolidat Since IT-enabled services are rendered to subsidiaries which are consolidated, single primary business segment and accordingly primary segment disclosures h The Mindteck Group's operations predominantly relate to providing software se The above statement of unaudited consolidated financial results ('the Statement thereafter approved by the Board of Directors in their meeting held on February Mindteck Employee Welfare Trust (the Trust) acquired the shares, with funds based compensation plan (ESOP). During the year ended March 31, 2024, the These consolidated financial results have been prepared in accordance with th read with the relevant rules thereunder and in terms of Regulation 33 of the SE	(Rs. in Lakhs) Year ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 March 31, 2024 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 4,479 4,968 4,142 14,579 12,977 17,255 1,913 2,020 1,413 5,755 4,112 5,769 4,010 3,835 4,020 11,706 11,674 15,529 10,402 10,823 9,575 32,040 28,763 38,553 s sales operations in the US, leading to a more streamlined and efficient sales process. This restructuring cost resulted in one time payments to affected ubsidiaries namely Mindteck Inc., Mindteck Singapore Pte. Ltd., Mindteck Solutions Philippines Inc.(under closure), Mindteck (UK) Limited, Mindteck alaysia SDN BHD, Chendle Holdings Ltd and Mindteck Canada Inc. In addition, the consolidated financial results include the balances of the Trust upto 24 as a merged entity of the parent i.e., Mindteck (India) Ltd. e of Mindteck Solutions Philippines Inc., Philippines due to continuous loss. The closure process for Mindteck Solutions Philippines Inc., Philippines has of its consolidated financial statements upto quarter ended September 30, 2024. During the nine months ended December 31, 2024, the Trust sold 224,449 price of Rs. 280.30 per share. The shares had a face value of Rs. 22 lakhs, and an aggregate purchase value of Rs. 218 lakhs. Net profit of Rs. 371 lakhs, As a result of disposal of shares by the Trust, consolidated Equity Share Capital has increased by Rs. 22 lakhs, consolidated securities premium account by hares - net of taxes). During the quarter ended December 31, 2024, the objective of the Trust has changed. Accordingly the financial statement of the Trust th effect from November 12, 2024. ised by employees under various Mindteck Employee Stock Option Scheme, resulting in increase in equity share capital by Rs.13 lakhs and securities rities premium account. egments, the Chief Operating Decision Maker also evaluates the Group performance and allocates resources based on an analysis of various performance n respect of such geographical segments. ed financial statements are also consistently applied to record income and expenditure in the individual segments. Quarter ended upee one each(fully paid up) in the proportion of 1 bonus shares for every 4 fully paid up equity shares to elligible shareholders whose names appeared in for this purpose, in accordance with approval received from the Members by way of e-voting, result of which was declared on september 09,2024. The said of the company, including dividend. As a result of the bonus issue, the paid up capital of the company stands increased to Rs. 3,185 lakhs from Rs. 2,548 re (Basic and Diluted) have been adjusted for all periods presented. Nine months ended the disclosure of a separate IT-enabled services segment as a separate primary segment is not applicable. The Group is therefore considered to constitute a ave not been presented. rvices to external customers and providing IT-enabled services to subsidiaries within the Group. ') of Mindteck (India) Limited ('the Company') for the quarter and nine months ended December 31, 2024, have been reviewed by the Audit Committee and 5, 2025. administered by its Trust, provided by the Company by way of loan to the Trust. The Trust was set up with the objective of supporting employees share- existing ESOP Scheme was woundup . e recognition and measurement principles laid down in Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013, BI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
	Revenue from external customers by location of customers	Quarter ended			Nine months ended		Year ended
		December 31, 2024	September 30, 2024	December 31, 2023	December 31, 2024	December 31, 2023	March 31, 2024
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	- USA	4,479	4,968	4,142	14,579	12,977	17,255
	- India	1,913	2,020	1,413	5,755	4,112	5,769
	-Rest of the world	4,010	3,835	4,020	11,706	11,674	15,529
	Total	10,402	10,823	9,575	32,040	28,763	38,553
	Exceptional Items: Provision for restructuting cost for and on behalf of the Board of Directors of Mindteck (India) Limited Place : California, USA Date : February 5, 2025 CEO and Managing Director Anand Balakrishnan During the nine months ended December 31, 2024, the company restructured it employees which are reflected in the quarterly financials. The consolidated financial results include balances of its direct and indirect s Germany GmbH, Mindteck Middle East Limited WLL, Mindteck Software M November 11, 2024, as a seperate entity and with effect from November 12, 20 The Board of Directors vide meeting dated May 28, 2019 approved the closur been initiated. The impact of such closure was not considered material. During the nine months ended December 31, 2024, 131,667 ESOPs were exerc premium account by Rs.184 lakhs including transfer from ESOP reserve to secu On September 20, 2024 , the company has alloted 6,369,611 bonus shares of R the Register of Members as on September 20,2024, being the record date fixed bonus shares shall rank pari passu in all respects with the existing equity shares lakhs. Consequent to the above increase in paid up capital, the earnings per sha

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Financial Results of Mindteck (India) Limited, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Mindteck (India) Limited

1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Mindteck (India) Limited and nine months period ended December 31, 2024 of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, as

2. principles laid down in Indian Accounting Standard 34, (lnd AS 34) 'Interim Financial Reporting' rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410 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 financial statements are free of material procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

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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 recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ( 133 of the Act, read with relevant rules issued thereunder and other recognised accounting practices and policies, has not disclosed the information required to be disclosed in terms of Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Suresh Surana & Associates LLP Chartered Accountants -100010

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Rajesh Maniar Partner Membership No.: 040833 ICAI UDIN: 25040833BMLZGG1551

Place: Bengaluru Date: February 05, 2025

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Financial Results of Mindteck (India) Limited, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Mindteck (India) Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Mindteck (India) Limited and nine months period ended

December 31, 2024 pursuant to the requirements of Regulation 33 of SEBI (Listing Obligation and Disclosure

1. The principles laid down in Indian Accounting Standard 34, (lnd AS 34) 'Interim Financial Reporting' rules issued thereunder 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.

2. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410 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 financial statements are free of material procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD 1/44/2019 dated March 29, 2019 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 Holding Company and the following wholly owned subsidiary entities:

2. a. Mindteck Inc., USA

3. b. Mindteck Software Malaysia SDN, BHD, Malaysia

4. c.

5. Mindteck Middle East Limited WLL, Kingdom of Bahrain

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• d. Mindteck (UK) Limited, United Kingdom

• e. Mindteck Singapore Pte. Limited, Singapore

• f. Mindteck Canada Inc., Canada

• g. Mindteck Germany GmbH, Germany

• h. Chendle Holdings Ltd., BVI

• i. Mindteck Solutions Philippines Inc, (Under closure)

• j. Mindteck Employees Welfare Trust (merged with standalone financials wef November 12, 2024 - refer note 5. to Statement of Unaudited Standalone Financial Results)

• 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 recognition and measurement 133 of the Act, read with relevant rules issued thereunder and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Suresh Surana & Associates LLP Chartered Accountants -100010

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Rajesh Maniar Partner Membership No.: 040833 ICAI UDIN: 25040833BMLZGH1612

Place: Bengaluru Date: February 05, 2025