PCS Technology Ltd. — Annual Report 2021

May 31, 2021

31 May, 2021

The Secretary The Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers 27" Floor, Dalal Street Mumbai 400 023

Dear Sir,

Ref : Security Code no. 517119

Pursuant with Regulation 30 & 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulations, 2015, we enclose herewith the: '

• 1. Copy of Audited Financial results of the Company
• 1. Copy of Auditors Report-of M/s. Vinod K Mehta & Co. Chartered Accountant

for the Quarter and year ended 31st March, 2021 which was taken on record at the meeting of the Board of Directors of the Company held today at Nariman Point (through video conference).

Thanking you

Yours faithfully For PCS Technology Limited

le. —

Mehul Monani Company Secretary & Compliance Officer

PCS Technology Limited : 8th Floor, Technocity, Plot No. X-5/3, MIDC Mahape, Navi Mumbai - 400 710. Tel.: 91-22-4129 6111 Fax : 4129 6082 www.pcstech.com Registered Office : 82/6/1, Solar Park, Shop No.6, Pune - Alandi Road, Dattanagar, Dighi- Pune - 411015 CIN NO.: L74200MH1981PLC024279

PCS TECHNOLOGY LIMITED Regd. Off.: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015; Corp. Office: 8th floor, Technocity, plot no. X-5/3, MIDC, Mahape, Navi Mumbai- 400710.

	pcs PCS Regd. Off.: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015; Corp. Office: 8th floor, Technocity, plot no. X-5/3, MIDC, Mahape, Navi Mumbai- 400710.					TECHNOLOGY		LIMITED
	TECHNOLOGY Tel.: 022 41296111, Fax no.: 912241296082, Website : www.pcstech.com, Emall : investorsgrievances@pcstech.com, CIN : L74200MH1981PLC024279 STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2021
PART Sr. No.	Particulars		Quarter Ended	Standalone		Financial Year Ended		Quarter Ended	Consolidated		in lakhs) } Financial Year Ended
	' Revenue from operations (net)	6.39	Audited { Unaudited Audited 7.61	6.40	Audited 25.99	31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Audited 29.90	6.39	Audited Unaudited Audited 7.61	6.40	Audited 25.99	Audited 29.90
	Il Other Income iit Total Revenue (1+1!)	57.71 64.10	59,26 66.87	78.80 85.20	252.70 278.69	391.23 421.13	58.44 64.83	60.50 68.11	80.25 86.65	256.96 282.95	396.45 426.35
	IV_ Expenses (a) « Cost of material consumed (b) Purchase of stock-in-trade	- -	- -	- -	- -	- -	- -	-	- -	- -	- -
	(c) Changes in inventories of finished goods, work-in- progress and stock-in-trade (d) Employee benefits expense	: 18.68	- 19.06	- 18.16	- 77.79	- 84.46	- 18.68	- 19.06	- 18.16	- 77.79	: 84.46
	(e) Finance costs (f)_ .Impairement / (Gain) on financial instruments and Exceptional Items (Refer Note No. 7)	9.90 41,38	9.82 (60.56)	12.11 138.75	38.81 (14.01)	49.31 661.67	9.90 41.38	9.82 (60.56)	12.11 138.74	38.81 (14.01)	~ 49.31 662.37
	(9) Depreciation and amortization expense (h) Other expenses	§.87 15.17	6.36 24.56	6.17 7.26	24.80 70.71	25.10 134.03	5.87 15.77	6.36 24.68	6.17 7.69	24.80 71.75	25.10 136.19
V__	Total Expenses Profit before tax (II-IV)	91.00 (26.90)	(0.76) 67.63	182.45 (97.25)	198.10 80.59	954.57 (533.44)	91.60 (26.77)	(0.64) 68.75	182.87 (96.22)	199.14 83.81	957.43 (531.08)
	VI Tax expense (a) Current tax (b) Deferred tax	477 -	1.33 -	(2.52) -	22.27 -	- -	4.87 -	1.63 -	(1.42) -	23.27 -	1,10 -
	(b) Taxation pertaining to earlier year VIl_ Profit / (Loss) for the period from continuing operations (V-VI)	" (31.67)	- 66.30	(94.73)	15.62 42.70	(3.83) (529.61)	(0.01) (31.63)	- 67.12	- (94.80)	15.61 44,93	(3.79) (528.39)
	Vill_ Profit / (Loss) from discontinued operations IX Tax expense of discontinued operations			:		-
X_	Profit / (Loss) from discontinued operations (after tax) (VIII-IX)					:	- "	*	"		"
	XI Profit / (Loss) for the period (Vil+X) XIl_ Other Comprehensive Income A (i) Items that will be reclassified to profit or loss	(31.67)	66.30	(94.73)	42.70	(529.61)	(31.63)	67.12	(94.80)	44,93	(528,39)
	(ii) income tax relating to items that will be reclassified to profit or loss B (i) Items that will not be reclassified to profit or loss	- - (2.32)	- (0.33)	: - 6.11	- - (3.32)	- : (3.58)	- - (2.32)	- - (0.33)	: - 6.11	- (3.32)	: - (3.58)
	(ii) Income tax relating to items that will not be reclassified to profit or loss XIll Tofal Comprehensive Income for the period (XI+Xil)	0.58 (33.41)	0.08 66.05	(1.62) (90.24)	0.83 40.21	0.90 (532.29)	0.58 (33.37)	0.08 66.87	(1.62) (90.31)	0.83 42,44	0.90 (531.07)
	(Comprising Profit / (Loss) and Other Comprehensive Income for the period) XIV Equity Share Capital (face value of Rs. 10/- each)	2,095.07		2,095.07 2,095.07	2,095.07	2,095.07	2,095.07	2,095.07	2,095.07		2,095.07 2,095.07
	XV Earning per equity share (of Rs.10/- each) (not annualised') (1) Basic	(0.15)*	0.32	(0.45)*	0.20*	(2.53)	(0.15)	0.32	(0.45)*	0.21"	(2.52)*
PART Il	(2) Diluted	(0.15)*	0.32	(0.45)*	0.20*	(2.53)*	(0.15)*	0.32	(0.45)*	0.21*	(2.52)*
	A_ PARTICULARS OF SHAREHOLDING 1 Public Shareholding
	Number of equity shares Percentage of shareholding	29.83	6,250,682 6,250,682 6,250,682 6,250,682} 29.83	29.83	29.83	6,250,682 29.83	6,250,682} 29.83	6,250,682] 29.83	6,250,682} 29.83	6,250,682 29.83	6,250,682 29.83
	2 Promoters and Promoter group shareholding {a} Pledged / Encumbered Number of shares	-	-	-	-	-	-	-	-		-
	Percentage of shares (as a % of the total shareholding of promoter & promoter group) Percentage of shares (as a % of the total share capital	- -	- -	: -	- -	: -	- -	- -	- -	: :	: >
	of the company) (b) Non Encumbered Number of shares		14,699,939 14,699,939 14,699,995 14,699,939 14,699,995;				14,699,939]	14,699,939}		14,699,995 14,699,939 14,699,995
	Percentage of shares (as a % of the total shareholding of promoter & promoter group) Percentage of shares (as a % of the total share capital	100,00 70.17	100.00 70.17	100.00 70.17	100.00 70.17	100.00 70.17	100.00 70.17	100.00 70.17	100.00 70.17	100.00 70.17
	of the company) B PARTICULARS OF INVESTOR COMPLAINTS					Quarter ended 31.03.2021
	Pending at the beginning of the quarter Received during the quarter					Nil 0			\	—
	Disposed of during the quarter Remaining unresolved at the end of the quarter					0 Nil				XQ	=
											SS

1 The above audited quarterly and annual financial results after being reviewed by the Audit committee were approved by the Board of Directors in their meeting held on 31st May 2021. & 2 The figures of the last quarter are the balancing figures in respect of full financial year and to date figures upto third quarter of the respective financial year. ow ; 3 Based on the Management approach as defined under Ind-AS 108, Operating segments, the Company operates in one business segmenti.e. ITes related Facilty Management Segment, as such itis ly reportableas.. business segment, Since, "Revenue from IT enabled services" are much lower as compared to previous quarters. As a result of which "Other Income" exceeds "Revenue from Operations" sD. 4 The Company adopted Indian Accounting Standards (Ind-AS) from April 1, 2017 and accordingly these financial results have been prepared in accordance with the recognition and measurement princi ad down in the

IND-AS 34 interim Financial Reporting' prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in Indidlskinancial for the quarter have been prepared in accordance with the recognition and measurement principles of ind-AS 34. 5 The Financials Results(Standalone and Consolidated) have been prepared in accordance with principles of indian Accouting Statndard (IndAS) as specified by ICAI & section 133 of The CompaniesAct

⁶PCS Technology USA Inc, one of the wholly owned subsidiary of the company stands dissolved and its existence comes to an end as on the 18th December 2019 as as per the certificate of Dissolution Issued by the autorities of the State of New Jersey (USA). In view of this, the consolidated Statement of Profit and Loss Account of the Company for the period ended 31st March 2020 (previous financial year) has been prepared excluding the financials figures of the dissolved entity.

⁷The Company, in the past has invested funds in Bonds. The Market value/Resale value of some of the bonds on Mark-to-Market basis have varied in earlier quarters/year. Accordingly the resultant value arrived on Mark-to- Market basis amounting to Rs.41.38 Lacs being Loss for the current quarter and amounting to Rs.14.01 Lacs being Gain/impairment for current year ended 3st March 2021 and the same has been accounted and classified under "Impairement / (Gain) on financial instruments and Exceptional Items". Figures for Financial year ended 31st March 2020 (i.e Previous financial year) include sum of Rs.167.58 lacs relates to payment towards availing Sabka Vishwas (Legacy Disputes Resolution. 2019) to Central Governmentin complete resolution of past disputed Service tax liability and the same has been accounted and classified under "Impairement | (Gain) on financial instruments and Exceptional Items"

⁸The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

The Statutory Auditors of the Company have carried out the audit and have issued their unmodified opinion on the financial statements.

¹⁰The Company has taken into account the possible impacts of COVID-19 in preparation of the financial statements, including but not limited to its assessment of liquidity and going concern assumption, recoverable values of its financial and non-financial assets, impact on revenues and on cost budgets in respect of fixed price contracts and impact on leases. The Company has considered internal and certain external sources of information including reliable credit reports, economic forecasts and industry reports upto the date of approval of the interim financial statements and expects to recover the carrying amount ofits assets, The impact of COVID-19 on the interim financial statements may differ from that estimated as at the date of approval of the interim financial statements.

11 Figures of the previous periods have been regrouped/ rearranged wherever necessary to make them comparable with current period's classification.

By Order of the Board For PCS Technology Limited Ashok Kumar Patni Vice Chairman DIN: 00014194

Place: Mumbai Date : 31/05/2021

OCS PCS TECHNOLOGY LIMITED

TECHNOLOGY Regd. Off.: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015; Corp. Office: 8th floor, Technocity, plot no. X-5/3, MIDC, Mahape, Navi Mumbai- 400710. Tel.: 022 41296111, Fax no,: +912241296082,Website : www.pcstech.com, Email : investorsgrievances@pcstech.com, CIN : L74200MH1981PLC024279

EXTRACTS OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2021

	TECHNOLOGY
	OCS PCS				LIMITED
	TECHNOLOGY Regd. Off.: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015; Corp. Office: 8th floor, Technocity, plot no. X-5/3, MIDC, Mahape, Navi Mumbai- 400710. Tel.: 022 41296111,
	Fax no,: +912241296082,Website : www.pcstech.com, Email : investorsgrievances@pcstech.com, CIN : L74200MH1981PLC024279
	EXTRACTS OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR
	THE QUARTER AND YEAR			ENDED 31ST MARCH 2021
						(Rs. in lakhs)
SN	Particulars		Quarter ended	Consolidated		Financial Year Ended
					31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020
	1 Total Income from Operations	64.83	Audited Unaudited 68.11	Audited 86.65	Audited 282.95	Audited 426.35
	2 Net Profit / (Loss) for the period before tax	(26.77)	68.75	(96.22)	83.81	(531.08)
	3 Net Profit / (Loss) for the period after tax	(31.63)	67.12	(94.80)	44.93	(528.39)
	4 Total Comprehensive Income for the period [Comprising Profit / (Loss) for the period (after tax) and Other Comprehensive Income (after tax)]	(33.37)	66.87	(90.31)	42.44	(531.07)
	5 Equity Share Capital	2,095.07	2,095.07	2,095.07	2,095.07	2,095.07
	6 Reserves (excluding Revaluation Reserve) as shown in the Audited Balance Sheet of the previous year	NA	NA	NA	NA	NA
	7 Basic & Diluted Earnings Per Share (of Rs.10/-each) annualised extraordinary (before items) (not * )	(0.15)*	0.32	(0.45)*	0.21*	(2.52)*
The	Standalone are as under Financial basis details on
SN	Particulars			Standalone
			Quarter ended			Financial Year Ended
		Audited	Unaudited Audited		31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Audited	Audited
	1 Total Income from Operations	64.10	66.87	85.20	278.69	421.13

	Quarter ended	Financial Year Ended
		31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020
	Audited	Unaudited Audited		Audited	Audited
1 Total Income from Operations	64.10	66.87	85.20	278.69	421.13
2 Profit before tax	(26.90)	67.63	(97.25)	80.59	(533.44)
3 Profit after tax	(31.67)	66.30	(94.73)	42.70	(529.61)

Notes:

1 The above is an extract of the detailed format of Quaterly and Annual Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly and Annual Financial Results are available on the websites of the Stock Exchange (www.bseindia.com) and the listed entity (www.pcstech.com).

	sm aan mes -
	DIN: 00014194 Date : 31/05/2021 _—
	Place: Mumbai Vice Chairman
	Ashok Kumar Patni
	For PCS Technology Limited
	By Order of the Board
12	Figures of the previous periods have been regrouped/ rearranged wherever necessary to make them comparable with current period's classification.	For PCS Tec	Ashok Kumar Patni
	Statements.
	COVID-19 on the interim financial statements may differ from that estimated as at the date of approval of the interim financial		Vice Chairman
	the date of approval of the interim financial statements and expects to recover the carrying amount of its assets. The impact of
	internal and certain external sources of information including reliable credit reports, economic forecasts and industry reports up
	impact on revenues and on cost budgets in respect of fixed price contracts and impact on leases. The Company has consi
11

• The above audited financial results after being reviewed by the Audit committee were approved by the Board of Directors in their meeting held on 31st May 2021.
• The figures of the last quarter are the balancing figures in respect of full financial year and to date figures upto third quarter of the respective financial year.
• Based on the Management approach as defined under Ind-AS 108, Operating segments, the Company operates in one business segmenti.e. Tes related Facilty Management Segment, as such itis the only reportable business segment. Since "Revenue from IT enabled services" are much lower as compared to previous quarters, as a result of which "Other Income" exceeds "Revenue from Operations"
• The Company adopted Indian Accounting Standards (Ind-AS) from April 1, 2017 and accordingly these financial results have been prepared in accordance with the recognition and measurement principles laid down in the IND-AS 34 'Interim Financial Reporting' prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India. Financial for the quarter have been prepared in accordance with the recognition and measurement principles of Ind-AS 34.
• The Financials Results (Standalone and Consolidated) have been prepared in accordance with principles of indian Accouting Statndard (IndAS) as specified by ICAI & section 133 of The Companies Act 2013.
• PCS Technology USA Inc, one of the wholly owned subsidiary of the company stands dissolved and its existence comes to an end as on the 18th December 2019 as as per the certificate of Dissolution issued by the autorities of the State of New Jersey (USA). In view of this , the consolidated Statement of Profit and Loss Account of the Company for the period ended 31st March 2020 (previous financial year) has been prepared excluding the financials figures of the dissolved entity.
• The Company, in the past has invested funds in Bonds. The Market value/Resale value of some of the bonds on Mark-to-Market basis have varied in earlier quarters/year. Accordingly the resultant value arrived on Mark-to-Market basis amounting to Rs.41.38 Lacs being Loss for the current quarter and amounting to Rs.14.01 Lacs being Gain/impairment for current year ended 31st March 2021 and the same has been accounted and classified under "Impairement / (Gain) on financial instruménts and Exceptional Items". Figures for Financial year ended 31st March 2020 (i.e Previous financial year) include sum of Rs.167.58 lacs relates to payment towards availing Sabka Vishwas (Legacy Disputes Resolution. 2019) to Central Government in complete resolution of past disputed Service tax liability and the same has been accounted and classified under "Impairement / (Gain) on financial instruments and Exceptional Items"
• The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stakeholders which are under active consideration by the Ministry. The Company will assess the impact and its evaluation once the subject rules are notified and will give appropriate impact in its financial statements in the period in which, the Code becomes effective and the related rules to determine the financial " are published.
• 10 The Statutory Auditors of the Company have carried out the audit and have issued their unmodified opinion on the financia statements.
• 11 impact on revenues and on cost budgets in respect of fixed price contracts and impact on leases. The Company has consi internal and certain external sources of information including reliable credit reports, economic forecasts and industry reports up the date of approval of the interim financial statements and expects to recover the carrying amount of its assets. The impact of COVID-19 on the interim financial statements may differ from that estimated as at the date of approval of the interim financial Statements.

STATEMENT OF ASSETS AND LIABILITIES

Corp. Office: 8th Floor, Technocity, Plot No.X-5/3,Mahape,Navi Mumbai- 400 710. Tel.:No.: 022-41296111 * Fax: 91224129082 » Website: www.pcstech.com Registered Office: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015 (Previous Address: Office no 1, Gat No 478, Alandi Markaal Road, Tal.: Khed, Dist.: Pune - 412 106).

	By Order of the Board
	For PCS Technology Limited
	Ashok Kumar Patni
Place: Mumbai	Vice Chairman
Date : 31/05/2021	DIN: 00014194

	pc PCS &, Registered Office: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015 TECHNOLOGY (Previous Address: Office no 1, Gat No 478, Alandi Markaal Road, Tal.: Khed, Dist.: Pune - 412 106). Corp. Office: 8th Floor, Technocity, Plot No.X-5/3,Mahape,Navi Mumbai- 400 710.	TECHNOLOGY
				LIMITED
	Tel.:No.: 022-41296111 * Fax: 91224129082 » Website: www.pcstech.com * Email: investorsgrievances@pcstech.com * CIN: L74200MH1981PLC024279	STATEMENT OF ASSETS AND LIABILITIES
			Standalone		(zin lakhs) Consolidated
Ne	Particulars	Asat_ 31-Mar-2021	Asat	Asat 31-Mar-2020 31-Mar-2021 31-Mar-2020	Asat
	A ASSETS
	1 Non-Current Assets
	(a) Property, plant and equipment (b) Financial assets	905.91	928.57	905.91	928.57
	(I) Investments	- 50.20	- 50.20	- 0.20	- 0.20
	(c) Other assets Total non-current assets	126.13 1,082.24	126.00 1,104.77	126.13 1,032.24	127.05 1,055.82
	2 Current assets
	(a) Financial assets
	(I) Investments '(ii) Trade receivables	330.05 -	316.05 0.69	330.05 -	316.05 0.69
	(iv) Cash and cash equivalents (v) Other balances with banks	3,121.73 -	3,047.25 -	3,223.60 -	3,145.82 -
	(vi) Loans (b) Current income tax liabilities (net)	21.54	29.90 15.36	22.25	30.88 14.36
	(b) Other assets	- 0.97	0.92	- 0.97	0.92
	Total current assets	3,474.29	3,410.17	3,576.87	3,508.72
	TOTAL ASSETS	4,556.53	4,514.94	4,609.11	4,564.54
	Il. EQUITY AND LIABILITIES
	1 Equity
	(a) Share capital (b) Other equity	2,095.07 2,039.25	2,095.07 1,999.87	2,095.07 2,090.42	2,095.07 2,048.82
	Total Equity	4,134.32	4,094.94	4,185.49	4,143.89
	2 Liabilities Non-current liabilities
	(a) Financial liabilities
	(I) Long-term borrowings (ii) Other financial liabilities	376.73 -	374.77 24.75	376.73. -	374.77 24.75
	(b) Provisions - Total non- current liabilities	3.74 380.47	3.50 403.02	3.74 380.47	3.50 403.02
	3 Current Liabilities
	(a) Financial liabilities
	(ii) Trade and other payables (b) Current income tax liabilities (net)	4.89 4.99	7.72 -	5.54 5.75
	(c) Provisions (d) Other liabilities	4.43 27.43	4.73 4,53	4.43 27.43	438 LL. 7
	Total current liabilities	41.74	16.98	43.15	4.53.0. 17.6302 ©
	TOTAL EQUITY AND LIABILITIES	4,556.53	4,514.94	4,609.11	% 4,564.54°
					By Order of the Board For PCS Technology Limited
					Ashok Kumar Patni
	Place: Mumbai				Vice Chairman

CASH FLOW STATEMENT FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2021

pcs PCS TECHNOLOGY LIMITED

Short term secured borrowings	-	-
Long term secured borrowings	374.77	-	1.95	376.73	hok Kum
Total liabilities from financing activities	374.77	-	1.95	376.73
				By Order of the Board
				For PCS Technology Limited
				Ashok Kumar Patni
Place: Mumbai				Vice Chairman
Date : 31/05/2021				DIN: 00014194

	pcs TECHNOLOGY LIMITED PCS
	Registered Office: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015 TECHNOLOGY Corp. Office: 8th Floor, Technocity, Plot No.X-5/3,Mahape,Navi Mumbai- 400 710. Tel.:No.: 022-41296111 + Fax: 91224129082 » Website: www.pcstech.com
	* Email: investorsgrievances@pcstech.com * CIN: L74200MH1981PLC024279 CASH FLOW STATEMENT FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2021
				(Rs. In Lakhs)
Sr. No	Particulars		Year ended	Year ended 31-Mar-21 34-Mar-20
	A. Cash flow from operating activities Net profit before tax and extra ordinary items Adjustments for:		42.70	(529.60)
	Tax Provision CSR Provision		37.89 -	(3.83) -
	CSR Paid Depreciation		- 24.80	(10.00) 25.10
	Finance cost Gain / Loss / Impairment on investments and sundry balances		38.81 (14.01)	49.31 692.72
	Fixed assets written off / Profit or Loss of Sale of Fixed Assets Interest received		- (195.17)	- (256.87)
	Operating profit before working capital changes		(68.31)	(33.17)
	Decrease! (increase) in trade and others receivables Decrease/ (increase) in inventories		3.05 -	85.88 -
	(Decrease)/ increase in trade and other payables Cash generated from operations		2.21 (63.04)	(28.64) 24.07
	Income tax paid (net of refunds) . Net cash flow from/ (used in) operating activities		(25.07) (88.11)	0.32 24.40
	B. Cash flow from investing activities Purchase of fixed assets
	Purchase of non-current investments		(2.14) -	(0.34) 2,594.88
	Bank Fixed Deposits Proceeds from sale of fixed assets Interest received		- - 203.53	- - 398.93
	Net cash from/ (used in) investing activities		201.39	2,993.47
	C. Cash from financing activities Repayment of borrowings (net)		1.95	49,31
	Finance cost Net cash from/ (used in) financing activities		36.85 (38.81)	46.32 (95.63)
	Net increase/ (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of the year		- 14.47 3,047.25	2,922.24 125.01
	Cash and cash equivalents at end of the year		3,121.72	3,047.25
	Particulars COMPONENTS OF CASH AND CASH EQUIVALENTS AS AT			Year ended Year ended 31/Mar/21 31/Mar/20
	Cash on hand Balance with banks		0.58 67.56	0.44 81.69
	Cheques on hand Fixed deposits with banks, having original maturity of three months or less		-	- 3,053.58 , 2,965.12
	Cash and cash equivalents at the end of the year RECONCILIATION STATEMENT OF CASH AND BANK BALANCE		3,121.72	3,047.25
	Particulars			Year ended Year ended 31/Mar/21 31/Mar/20
	Cash and cash equivalents at the end of the year as per above Add: Balance with bank in dividend / unclaimed dividend accounts		68.14	82.13
	Add: Fixed deposits with banks, having remaining maturity for less than twelve months		- 3,053.58	- 2,965.12
	Add: Fixed deposits with banks (lien marked) Less: Fixed deposit with banks, having remaining maturity for more than twelve months		- -	- -
	Cash and bank balance as per balance sheet (refer note 13 and 14) DISCLOSURE AS REQUIRED BY IND AS 7		3,121.72	3,047.25N
	Reconciliation of liabilities arising from financing activities Opening balance Cash flows Non cash changes Closing batatr 31 March 2021			yy
	Short term secured borrowings - Long term secured borrowings 374.77	- -	1.95	376.73

Vice Chairman

GHATKOPAR (E), MUMBAI - 400077, E-mail ; dvsmehta@gmail.com Chartered Accountants

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INDEPENDENT AUDITOR'S REPORT TO THE BOARD OF DIRECTORS OF PCS TECHNOLOGY LIMITED

Report on the Audit of Standalone Financial Results for the fourth quarter as well as year ended as on March 31, 2021

Opinion:

We have audited the accompanying Standalone Financial Results for the fourth quarter and financial year ended as on March 31, 2021 of PCS TECHNOLOGY LIMITED ("the Company") which comprise the Balance Sheet as at March 31, 2021, the Statement of Profit and Loss (Including Other Comprehensive Income) , the Statement of Changes in Equity and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information('the Standalone financial Results) being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Financial Results.

a. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the year ended 31 March 2021.

Basis for Opinion:

We conducted our audit of the Standalone Financial Results in accordance with the Standards on Auditing specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the independence requirements that are relevant to our audit of the Standalone Financial Results under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We

believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Standalone Financial Results.

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Management's and Board of Directors Responsibility for the Standalone Financial Results

These Standalone Financial Results have been prepared on the basis of the standalone annual financial statements

The Company's Management and the Board of Directors are responsible for the preparation and presentation of these standalone financial results that give true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles !aid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibility for the audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be

expected to influence the economic decisions of users taken on the basis of the standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

1.ldentify and assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our Opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

1. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of standalone financial statements on whether the company has adequate internal financial controls with reference to Standalone Financial Statements in place and the operating effectiveness of such controls.

2. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the Standalone Financial Results made by the Management and Board of Directors.

3. Conclude on the appropriateness of Management and the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may Cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Standalone Financial Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

4. Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with

them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters:

The Standalone Financial Results include the results for the quarter ended 31 March 2021 being the balancing figures between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year.

Partner

Membership No.:044293 Place: - Mumbai. Date: May 31, 2021 UDIN:- 21044293AAAADU5579

68-5, SATYAM SHOPPING CENTRE, Tol. :# 91-22 2102 4280 VINOD K. MEHTA & CO. 2ND FLOOR, M. G. ROAD. TeVFax + 91-22 6725 5639 E-malt : dvamehta@gmail. com Chartered Accountants GHATKOPAR (E), MUMBAI - ⁴⁰⁰⁰⁷⁷

7~

INDEPENDENT AUDITOR'S REPORT TO THE BOARD OF DIRECTORS OF PCS TECHNOLOGY LIMITED

Report on the Audit of the Consolidated Financial Results for the fourth quarter as well as year ended as on 31st March, 2021

Opinion:

We have audited the accompanying Consolidated Financial Results of PCS TECHNOLOGY LIMITED (hereinafter referred to as the "Holding Company") and its subsidiary companies (the Holding Company and its subsidiary companies together referred to as 'the Group')for the fourth quarter as well as the year ended 31 March 2021, ("the Statement" or "consolidated financial results"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India ("SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended {'Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of reports of other auditors on separate financial statements of the subsidiary companies referred to in the 'Other Matter' below, the aforesaid Consolidated financial statements give the information required by the Companies Act,2013 ("the Act") :-

a. Regulations in this regard; and is presented in accordance with the requirements of Regulation 33 of the Listing

b. Give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31 March 2021.

Pcs Technology Ltd (the " Holding Company") has two subsidiaries :

• 1. PCS Positioning Systems (India) Ltd
• 1. PCS Infotech Ltd

Basis for Opinion:

We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We arc independent of the Group, in

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accordance with the Code of Ethics issued by the Irstitute of Chartered Accountants of tacts together with the ethical requirements that are relevant to our audit of the finanriat stolements under the provisions of the Act, and the Pules thereunder, and wre have fulfilled our other ethical responsibilities in accordance with these requirements and the Code af Ethics. We believe that the audit evidence obtained by us is su*ficient and appropriste to provide a basis for our opinion on the consolidated Financial resufts.

Management's and Board of Directors Responsibilities for the Consolidated Financial Results

These consolidated Financial results have been prepared on the basis of the consolidated annual financial statements.

The Holding Company's Management and the Board of Directors ere responsible for the preparation and presentation of these consolidated financie! results thet give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted i= tefe aed in compliance with Regulation 33 of the Listing Regulations. The respective Masagement and Board of Directors of the entities included in the Group are responsible for mawtenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each entity and for preventing and Getectiee teots sed other regularities, selection and application of appropriate accounting polos aking judgements and estimates that are reasonable and prudent, ane the Gesagn, implementation and maintenance of adequate internal financial controls thet eere operating effectively for ensuring accuracy and completeness of the accounting records. relevant fo the preparation and presentation of the consolidated annual financia resots tear eve a true and fair view and are free from material misstatement, whether Que to freuc or error, which have been used for the purpose of preparation of the conmsobcetec financial results by the Management and the Directors of the Holding Company. es etoresad

In preparing the consolidated financial results, the respectwe Management and the Board of Directors of the entities included in the Group are respansidte tor assessing the ability of each entity to continue as a going concern, disclosing. as apphcatle, matters related to going concern and using the going concern basis of accounting umbess the rescectwe Board of Directors either intends to liquidate the entity ar to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the entities included on the Group are responsible for overseeing the financial reporting process of each entity

Si2—

Auditor's Responsibilities for the Audit of the Consolidated Financial Results.

PA aie ee eee ee

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance isa high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could Saaea be expected to influence the economic decisions of users taken on the basis of these consolidated Financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

1. Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive ta those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud Is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

2. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated financial statements on whether the entity has adequate internal financial controls with reference to consolidated financial statements in place and the operating effectiveness of such controls.

3. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors of the Holding Company.

4. Conclude on the appropriateness of the Management's and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

5. Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.

GIZ

1. Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group and its subsidiary companies to express an opinion on the consolidated financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in para (a) of the section titled "Other Matters" in this audit report.

We communicate with those charged with governance of the Holding Company among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular No CJR/CFD/CMDI/44/2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

• 1. The consolidated financial results include the audited financial results of two subsidiaries:
• i. PCS Positioning System (India) Ltd
• ii. PCS Infotech Ltd

whose financial statements reflect total assets of 52.58 Lakhs as at 31st March, 2021, total revenues of Rs 4.26 lakhs and net cash outflows (cash and cash equivalents) amounting to Rs 101.87 lakhs for the year ended on that date, as considered in the Consolidated financial statements. Which have been audited by their respective independent auditors. The independent auditors' reports on financial statements of these entities have been furnished to us by the management and our opinion on the consolidated financial results, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors. a

1. The consolidated financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year.

For Vinod K. Mehta & Co. Chartered Accountants (Firm Registration No. : 111508W) "MEAS wd a3

= =

Divyesh V Mehta Partner Membership No.:044293 Place: Mumbai. Date: May 31, 2021 UDIN :- 21044293AAAADV8774