Panache Digilife Limited — Earnings Release 2021

Aug 27, 2020

Date: 27/08/2020

To, Listing and Compliance National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex, Bandra (East) Mumbai-400051

Dear Sir/ Madam,

Subject: Press Release on financial results of Panache Digilife Limited for the quarter ended 30th June, 2020 NSE Symbol – PANACHE

We are pleased to provide Press Release on financial results of Panache Digilife Limited for the quarter ended 30th June, 2020. The press release enclosed herewith is self-explanatory.

This is for your kind perusal and members information. Please take the same on your record and acknowledge the receipt.

Thanking you, Yours Faithfully,

For Panache Digilife Limited

___________________

Amit Rambhia Managing Director DIN: 00165919

Place: Mumbai

Encl.: As above

EARNING SYNOPSIS:

On Standalone basis for the Q1 FY2020-21,

PAT: INR 16.09 Mn (robust growth of 424.10% on y-o-y basis)

Revenues: INR 204.98 Mn (jumped by 50.67% on y-o-y basis)

EBITDA: INR 30.04 Mn (excluding other income)

• EBITDA and PAT margins stood at 14.65% and 7.85% respectively.
• Growth in the top-line is as a result of greater and timely projects execution during the quarter.
• Improvement in Profitability was supported by increase in revenue and cost optimization measures taken by the Company during this challenging time.

Mumbai, August 27, 2020: Panache Digilife Limited (NSE Symbol: PANACHE),one of the unique "Technology-driven Engineering Company" into Information and Communication Technology hardware design, manufacturing, distribution and services, today announced robust results for the first quarter ended on June 30, 2020, demonstrating the company's position of strength amid unprecedented global transformation.

Quarterly Comparison:

Total revenue in the first quarter at INR 204.98 Mn, 50.67% higher than INR 136.05 Mn in the same quarter last year. EBIDTA stood at INR 30.04 Mn with margins of 14.65% versus 8.42% on y-on-y basis. Profit after tax (PAT) registered an impressive growth of 424.10% to INR 16.09 Mn in Q1FY21 from INR 3.07 Mn in Q1FY20 with the margin of 7.85%.

Commenting on the performance, Mr. Amit Rambhia, Chairman & Managing Director, "We at Panache Digilife are very proud for such a strong performance. Despite this macro-economic and industry challenges, we manage to achieve several milestones and made significant strides in building customer trust and faith for our brand 'Panache'. We have achieved standalone net profit of INR 16.09 Mn for this period and have posted 50.67% y-o-y growth in top-line. Moreover, our EBITDA margin has also improved and thus to better profitability. We at Panache are confident about the future growth based on the project we have lined-up. I am thankful to our entire team as their hard work and dedication has laid the foundation for these achievements and many more to come."

He further added, "We are working on the project to find answers for today's and solutions for tomorrow's challenges to help the society fight against this deadly virus. We are focusing uncompromisingly on nation's needs and developing the products to meet the requirements. We have already launched several products under the umbrella of 'New-age Smart Personal and Community Hygiene Ecosystem products.' Moreover, we are in the development of other products under the same range and will be launching soon with exceptional quality and thoughtful features as continuous commitment to deliver the best with the sole aim of Making Human Life Easy as well as to fulfill and utilize the 'Make In India' and 'Atmanirbhar Bharat' policy of the Government of India in the Electronics domain."

During this quarter the Company has Received an order for its education vertical computer products from India's leading education Company. Apart from this, the Company has executed the order of prestigious Government project aimed at 'Upliftment of Farmers' amidst these challenging times of prevailing lockdown due to the pandemic Covid-19. The Company has made significant efforts in development and designing the products to help the world in mitigating the spread of deadly virus.

Business Updates:

Panache Digilife has accepted every challenge in an opportunistic way and made progress accordingly. The Company has recently developed IoT based products towards health and personal care of human life to meet the requirement arisen from prevailing epidemic disease.The Company has made remarkable progresses towards achieving their goal, such as:

Developed 'AI for Youth' product range powered by Intel's Movidius Technology and Open Vino Platform, which can be a necessary tool to create 'Artificial Intelligence' based unique solutions. AI in Education market globally is expected to post exponential growth from USD 1.1 billion in 2019 to USD 25.7 billion by 2030.

Developed IoT based Automated System – Innovative Health Safety Kiosk with an objective of preventing prevailing epidemic and providing safety measures to residential premises through the detection of elevated temperatures, entry access control and keeping record of the same.

Developed Work from Home Solution Embedded Laptops to enable business continuity need of the corporates and also offer educational institutions right solutions to meet their curriculum need.

Launched Dwaar Pro within the Lyf-Lyn range of products which enables controlled traffic movement of people and goods, manages and organizes real time data and content, channelizes information dissemination and digitize service delivery systems. Which has a wider application across Commercial premises, Retail Malls, Cinemas, Airports, Railway Station, Hotels, Hospitals, Educational Institutions, etc.

Rs Million	Q1 FY2021	Q1 FY2020	% YoY	FY2020	FY2019	% YoY
Total Revenue	204.98	136.05	50.67	712.84	931.38	(23.46)
EBITDA	30.04	11.45	162.35	60.30	72.29	(16.59)
EBITDA Margin (%)	14.65	8.42	6240 bps	8.46	7.76	70bps
PAT	16.09	3.07	424.10	20.43	41.12	(50.31)
PAT Margin (%)	7.85	2.26	5590 bps	2.87	4.42	(155)bps
EPS	1.34	0.26	415.38	1.70	3.43	(50.44)

Panache Overview

Panache Digilife Limited is an NSE-listed company (NSE Code: PANACHE). Panache is a leader in the new-age technology solutions with a vision to fulfill and utilize the 'Make of India' and 'Atmanirbhar' policy of the Government of India in the Electronics domain. Panache offers solutions around Smart Computing Devices, Smart & Digital Classrooms, Smart Tracking & Asset Management, Retail IoT, Healthy Living Solutions and Pen Display Solutions. Panache is an ICT & IoT devices design, manufacturing, distribution and services company with a vision of 'Making Human Life Easy' by way of constantly innovating in the technology space.

Panache Design philosophy for its smart devices is based on A, B, C, D of Technology:

• 'A' Analytics & Artificial Intelligence
• 'B' Big Data
• 'C' Connected & Cloud
• 'D' Devices

Panache is having its state-of-the-art manufacturing facility at Bhiwandi in Maharashtra, India from where both the domestic and the international markets are served. Accredited with ISO 9001:2015 & 14001:2015, the facility is equipped with enough capacities for Smart Compute Devices, Smart Tracking & Asset Management, Retail IoT, Healthy Living Solution, Pen Display Solution and custom design devices. The team specially focuses on TQM, JIT & DFM, which aids in overall fulfilling the ever-increasing demand from its customers.

With a robust manufacturing infrastructure in place, strong experienced Management Team, efficient technical team and constant focus on R&D & innovation, Panache has been a first recall to all our reputed clientele across verticals along with being one of the preferred OEM manufacturers for India's largest online retail portal and India's leading Education solution providers for their smart class room solutions. It is also a partner for Shuttle Inc., a Taiwan for all the range of products & solutions. Panache has been Intel's Platinum Partner for more than a decade.

Awards & Recognitions

• CRN Excellence Award in Big Data & Analytics in 2018
• Intel IoT Group Partner Performance Award in 2017
• Edge Innovation award in 2014 by Information Week, UBM
• Best System Builder award in 2010, 2011, 2012 & 2013 by CRN
• Intel Embedded Hero award in 2012
• SME National Award for Excellence in IT

Panache Digilife is fully committed to serving the global solution integrators with its in-house developed tailor-made designs and manufacturing services effectively delivered by its OEM / ODM teams. Rich experience in manufacturing helps the company offer significant price advantage along with shorter lead time. Panache assists its ecosystem partners by developing an environment that supports rapid prototyping, harvesting ideas, taking calculated risks and eliminating friction in getting products developed and thereby making the products available in the hands of the users with reduced time and cost, thereby delivering high value proposition to its customers and partners.

For more details, please visit: www.panachedigilife.com

If you have any questions or require further information, please feel free to contact:

Ms. Dhruti Dedhia Marketing Manager Panache Digilife Limited Email: dhruti.d@panachedigilife.com Ms. Jinkle Khimsaria CS & Compliance Officer Panache Digilife Limited Email: compliance@panachedigilife.com

Caution Concerning Forward- Looking Statements:

This document includes certain forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors. Panache Digilife Limited is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether because of new information, future events, or otherwise.