Palred Technologies Limited — Earnings Release 2021

Jun 30, 2021

Date: 30-06-2021.

To, To, The Manager, The Manager, Department of Corporate Relations, Listing Department, Mumbai-400001. Bandra Kurla Complex, Bandra (E),

BSE Limited, PJ Towers, Dalal Street, National Stock Exchange of India Limited, Mumbai-400051.

Dear Sir/ Madam,

Sub: Press Release- Palred Technologies announces its Financial Results for Q4; pTron Brand drives YoY growth with 152%.

With reference to above mentioned subject, we hereby submit the press release submitted by Palred Technologies Limited, stating that Palred Technologies announces its Financial Results for Q4; pTron Brand drives YoY growth with 152%. It further states that the YoY revenue generated from pTron Brand increased to INR 105.75 crores, compared to INR 34.69 crores in FY19-20, i.e., a 205% growth.

This is for the information of and records of Exchanges.

Thanking you,

For Palred Technologies Limited

Shruti Rege Company Secretary

PALRED TECHNOLOGIES LIMITED (FORMERLY KNOWN AS FOUR SOFT LIMITED) CIN: L72200TG1999PLC033131

Regd. Office: H.No. 8-2-703/2/B, Plot.No.2 Road.No.12, Banjara Hills, Hyderabad, Telangana- 500034. Tele: +9140 67138810|Website:www.palred.com

Palred Technologies announces its Financial Results for Q4;

pTron Brand drives YoY growth with 152%

YoY revenue generated from pTron Brand increased to INR 105.75 crores, compared to INR 34.69 crores in FY19-20, i.e., a 205% growth.

Hyderabad, 29 June 2021 – Palred Technologies Limited, a Technology Solutions player across Consumer Electronics, eCommerce, and IT Solutions industries, announced its financial results for the quarter ending March 2021.

Financial Highlights:

• Consolidated Revenue is INR 31.62 Cr for the quarter.
• Revenue generated by pTron brand stood at INR 105.75 crores in FY 2020 -2021, compared to INR 34.69 crores in FY19-20; Led by high volume demand of audio accessories and smart wearables.
• pTron brand EBIT at 6.80 crores in FY20 -21, a 381% growth from INR 1.48 crores in FY19-20

The Company witnessed a spike in sales volume in its digital lifestyle and audio accessories brand, pTron. The rapidly growing brand registered consolidated sales of 2.8 million units in FY 2021 compared to 1 million units sold in FY 2019-2020. A major growth component being pTron's TWS(True Wireless Stereo) range, the sales for which increased to 1.08 million units in FY20-21 as against 0.19 million units in FY19-20, registering a 469% growth.

Total Income for the 12 months period ended March 31, 2021 was INR 118.78 Crores, compared to INR 47.12 crores during the same period last fiscal. This represents 152% growth, mainly attributed to the significant increase in revenues and sales volumes from pTron.

With a diverse product portfolio of smart wearables and mobile accessories catering to the price sensitive customers, the brand has been capitalizing on new opportunities in the market. Furthermore, pTron's new manufacturing facility in Kurnool, Andhra Pradesh, facilitated an opportunity to expand its manufacturing capacity to tend to the pent-up demand for accessible mobile accessories.

Commenting on the results, Mr. Harish Naidu, CFO, Palred Technologies Limited said, "Despite the highly competitive market and the ongoing coronavirus pandemic, we achieved positive trends in overall sales, especially from pTron, which contributed to almost 90% of our overall revenues. With the revenues portraying a consistently upward trend, Palred Technologies Limited has crossed INR 100 Cr in FY2021".

Mr. Ameen Khwaja, Founder & CEO, pTron said, "We have witnessed a robust demand for pTron's smart accessories and wearables in India this past quarter. With our new manufacturing facility, we are able to fully integrate our supply chain and reduce dependence on external help. The demand for affordable and qualitybacked audio accessories was a major push for our brand. With 2.5 million units sold only in FY 2021, we aim to double it by the end of FY 2022. For the future, we remain committed to innovation and diversification of our brand portfolio".

About pTron:

Started in 2014, pTron was conceptualized as an electronics and mobile accessories brand owned by Palred Electronics Pvt. Ltd., which is a subsidiary of Palred Technologies Ltd, a public-listed company on BSE and NSE since 2004.

pTron offers a bouquet of mobile accessories products to meet the needs of its consumers. pTron offers products like Bluetooth headsets, portable Bluetooth speakers, wired headsets, chargers and cables, smart watches, networking products and many more. pTron's strength lies in its wide range of products whose quality is backed by warranty but offers them at competitive prices in the branded accessories category for the mid-market. pTron has sold more than 2.5 Million units only in FY 21. Growing at the rate of 50% QoQ, pTron aims to sell an additional 5 million units in FY 22.