Panache Digilife Limited — Earnings Release 2021

Nov 10, 2020

Date: 10/11/2020

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 and half year ended 30th September, 2020 NSE Symbol – PANACHE

We are pleased to provide Press Release on financial results of Panache Digilife Limited for the quarter and half year ended 30th September, 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 Q2FY2020-21,

PAT: INR 10.71 Mn (robust growth of 129.79% on y-o-y basis)

Revenues: INR 153.09 Mn (sequential improvement of 32.10% y-o-y basis)

EBITDA: INR 20.38 Mn (excluding other income)

• EBITDA and PAT margins stood at 13.31% and 6.99% respectively.
• Growth in the top-line is mainly driven by significant surge in demand in the Education, Petro Automation and Kiosk category of products.

Mumbai, November 10, 2020: Panache Digilife Limited (NSE Symbol: PANACHE),one of the unique "Technology-driven Company" into Information, Communication and Technology hardware design, manufacturing, distribution and services, today announced robust results for the second quarter ended on September 30, 2020.

Quarterly Comparison:

Total revenue in the second quarter at INR 153.09 Mn, 32.10% higher than INR 115.89 Mn in the same quarter last year. EBIDTA stood at INR 20.38 Mn with margins of 13.31% versus 10.88% on y-on-y basis. Profit after tax (PAT) registered an impressive growth of 129.79% to INR 10.71 Mn in Q2FY21 from INR 4.66 Mn in Q2FY20 with the margin of 6.99%.

Half-yearly Comparison:

The Company has achieved six-month revenue of INR 358.08 Mn which is an increase 42.12% from the same period last year, of INR 251.94 Mn. EBIDTA amounted to INR 50.42 Mn in H1FY2021 as against INR 24.06 Mn in H1FY2020 with margins of 14.08%. Profit after tax (PAT) grew by 246.69% to INR 26.80 Mn in H1FY21 as against INR 7.73 Mn in H1FY20.

Commenting on the Company's performance for Q2FY21, Mr. Amit Rambhia, Chairman & Managing Director, "We at Panache Digilife are very proud to report that we achieved strong performance in Q2 and grew sequentially. We have recorded standalone net profit of INR 10.71Mn for this period and have posted 32.10% y-o-y growth in top-line. Moreover, our EBITDA margins have improved to better profitability. We have made substantial steps towards building customers trust and faith for the brand 'Panache'. We remain confident on the long-term prospects of the Company."

He further added, "We have seen great demand for our LYF-LYN range of products aimed at serving the New-age Smart Personal and Community Hygiene Ecosystem. During this quarter we have launched several products under the umbrella of LYF-LYN and are still in the phase of developing more products. We are continuously working for the betterment of the society and fulfilling our sole aim of Making Human Life Easy by utilizing the 'Make In India' and 'Atmanirbhar Bharat' policy of the Government of India in the Electronics domain."

Panache Digilife has made substantial breakthrough by listing its product range of Squair PC's and Mini PC's specially designed for digital learning and work from home on Amazon

platform. Amazon being largest platform will give significant mileage for the Panache brand and will drive its future growth. The Company plans to increase the product basket and gradually expand the offerings on the Amazon. This will enhance the company's market reach.

This has been a very strong quarter for the Company, where Company has made significant steps towards making everyone life safe in these times of uncertainty. During Pandemic, the Company has developed and launched many products like Health Safety kiosk, IoT based Automated System – "Dwaar Pro", Automatic hand sanitizer – "SENSE" as well as Surface Disinfectant Atomiser called "MOBIMIST" under its Lyf-Lyn range which is intended to find answers for today and solutions for tomorrow, by combining disruptions in technology and rapid product development.

Apart from these, the Company has 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. Moreover, it has signed a Distribution Agreement for compute range products with Shuttle Inc., a global information technology and manufacturing leader based in Taiwan with the aim of widening the product portfolio and expanding their customer-base by fulfilling the needs of ever dynamic market.

Rs Million	Q2FY2021	Q2FY2020	% YoY	H1FY2021	H1FY2020	% YoY	FY2020	FY2019	% YoY
Total
Revenue	153.09	115.89	32.10%	358.08	251.94	42.13%	712.84	931.38	(23.46)
EBITDA	20.38	12.61	61.61%	50.42	24.06	109.56%	67.30	81.37	(17.29)
EBITDA
Margin (%)	13.31%	10.88%	2.43bps	14.08%	9.55%	4.53bps	9.44	8.74	0.70bps
PAT	10.71	4.66	129.82%	26.80	7.73	246.70%	20.43	41.12	(50.31)
PAT
Margin (%)	6.99%	4.02%	2.97bps	7.48%	3.07%	4.41bps	2.87	4.41	(1.54)bps
EPS	0.89	0.39	128.20%	2.23	0.64	248.44%	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 in India' and 'Atmanirbhar' policy of the Government of India in the Electronics domain. Panache offers solutions around Smart Computing Devices, OEM & ODM, Smart & Digital Classrooms, 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 (Maharashtra) and Daman (U.T), 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, OEM & ODM, 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. Panache is appointed by ViewSonic International Corporation, a Taiwan corporation (ViewSonic Taiwan) as distributor for the promotion & sale of Pen Display Products & Solutions on pan India basis.

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