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PCS Technology Ltd. Audit Report / Information 2024
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Audit Report / Information
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10th May, 2024
The Secretary The Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers 27th Floor, Dalal Street Mumbai 400 023
Dear Sir/Ma'am,
Ref : Security Code no. 517119
Sub: Outcome of Board Meeting of PCS Technology Limited
Pursuant with Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulations, 2015, we hereby inform you that, the Board of Directors of the Company at its meeting held today, i.e. on Friday, May 10, 2024, inter-alia, considered and unanimously approved:
-
- Audited Financial Result of the Company (Standalone and Consolidated) for the quarter and year ended 31st March, 2024
-
- Audit Report of M/s. Vinod K Mehta & Co. Chartered Accountant for the quarter and year ended 31st March, 2024.
-
- Disclosure of the Impact of Audit Qualification (un-modified).
The meeting commenced at 01.05 p.m. and concluded at 01.29 p.m.
The said result is also available on the website of the Company www.pcstech.com
Thanking you
Yours faithfully,
For PCS Technology Limited
BHASKAR JAGUBHAI PATEL Digitally signed by BHASKAR JAGUBHAI PATEL Date: 2024.05.10 13:47:48 +05'30'
Bhaskar Patel Chief Executive Officer
PCS TECHNOLOGY LIMITED
B-5, SATYAM SHOPPING CENTRE. 2ND FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI - 400077.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PCS TECHNOLOGY LIMITED
Report on the Audit of the Standalone Financial Results of PCS Technology Ltd ("the Company") for the year ended as on March 31, 2024 Opinion:
We have audited the accompanying Standalone Financial Results of PCS TECHNOLOGY LIMITED ("the Company") for the for the quarter ended as on March 31,2024 and year to date April 1, 2023 to March 31, 2024 (the "Statement") attached being submitted by the Company pursuant to the requirements 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. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; 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 consolidated net profit and other comprehensive loss and other financial information of the Company for the year ended 31 March 2024.
Basis for Opinion:
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those SAs 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 together with the ethical requirements that are relevant to our audit of the standalone Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the Financial Results
Management's Responsibility for the Standalone Financial Results
These standalone annual financial results have been prepared on the basis of the standalone annual Financial Statements
The Company's management and Board of Directors are responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of these standalone Financial Results that give a true and fair view of the state of affairs, profit/loss (including other comprehensive income), changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under Section 133 of the Act. 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 design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the 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, management and 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 management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is also responsible for overseeing the Company's financial reporting process.
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 user taken on the basis of these standalone Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify 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 control.
-
Obtain an understanding of internal financial controls 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 on whether the Company has adequate internal financial controls with reference to standalone Financial Results in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
-
Conclude on the appropriateness of management's 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.
-
Evaluate the overall presentation, structure and content of the Standalone IND AS Financial Results, including the disclosures, and whether the Standalone IND AS 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.
We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
For Vinod K Mehta & Co., Chartered Accountants (Firm Registration No.: 111508W)
ADOODOO
Divyesh V Mehta Partner Membership No.: 044293 Mumbai Date: 10/05/2024 UDIN: 24044293BKGABM5780
Chartered Accountants
B-5, SATYAM SHOPPING CENTRE. 2ND FLOOR, M. G. ROAD, GHATKOPAR (E), MUMBAI - 400077.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PCS TECHNOLOGY LIMITED (GROUP)
Report on the Audit of the Consolidated Financial Results Of PCS Technology Limited ('the Group") for the year ended as on March 31,2024
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 for the quarter ended as on March 31,2024 and year to date April 1, 2023 to March 31, 2024 (the "Statement") attached being submitted by the Company pursuant to the requirements 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. include the annual financial results of the entities mentioned in Annexure I
b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
c. 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 consolidated net profit and other comprehensive loss and other financial information of the Group for the year ended 31 March 2024.
Basis for Opinion:
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of 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 are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ('ICAI'), and we have fulfilled our other ethical responsibilities in accordance with the provisions of the Act. We believe that the
à.
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on financial results
Responsibilities of Management and Board of Directors' for the Consolidated Financial Results
These consolidated annual financial results have been prepared on the basis of the consolidated annual Financial Statements.
The Holding Company's management and Board of Directors are responsible for the preparation and presentation of these consolidated financial statements in terms of the requirements of the Act that give a true and fair view of the consolidated state of affairs, consolidated profit/loss and other comprehensive income, consolidated statement of changes in equity and consolidated cash flows of the Group in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under Section 133 of the Act. The respective management and Board of Directors of the entities included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of each entity and for preventing and detecting frauds and other irregularities; the 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 the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial statements by the management and Board of Directors of the Holding Company, as aforesaid.
In preparing the consolidated financial statements, the respective management and Board of Directors of the entities included in the Group are responsible for assessing the ability of each entity to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective management and 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 responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' 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 user 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 statements, 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 control.
-
Obtain an understanding of internal financial controls 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 on whether the entity has adequate internal financial controls system in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
-
Conclude on the appropriateness of management's and Board of Directors of the Holding Company use of the going concern basis of accounting in preparation of consolidated financial statements 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 auditors' report to the related disclosures in the consolidated financial statements 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 auditors' report. However, future events or conditions may cause the Group (Holding company and subsidiaries) to cease to continue as a going concern.
-
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.
-
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 "Information other than the Consolidated Financial Results and Auditor's Report Thereon" in this audit report.
We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated annual financial results of which we are the independent auditors 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.
We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
$\bigoplus$
Other Matter(s):
We did not audit the Financial Results of 2 subsidiaries, whose Financial Results reflect total assets of 60.93 Lakhs as at 31st March, 2024, total revenue of Rs 5.68 lakhs and net cash flows amounting to Rs 110.01 lakhs for the year ended on that date, as considered in the Consolidated Ind AS Financial Results. These Financial Results have been audited by other auditors whose reports have been furnished to us by the management and our opinion on the consolidated Ind AS Financial Results in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, and our report in terms of sec 143 (3) of the Act, insofar as it relates to the aforesaid subsidiaries is based solely on the reports of the other auditors.
MEH7
MUMBAI
EDACC
For Vinod K Mehta & Co., Chartered Accountants (Firm Registration No.: 111508W)
AMCOORDOOR
Divyesh V Mehta Partner Membership No.: 044293 Mumbai Date: 10/05/2024 UDIN: 24044293BKGABN5931
Annexure I:
List of entities included in consolidated annual financial results.
-
- PCS Technology Ltd (the 'Holding Company')
-
- PCS Infotech Ltd (the 'Subsidiary Company')
-
- PCS Positioning Systems (India) Ltd (the 'Subsidiary Company')
PCS TECHNOLOGY LIMITED
Registered office: S. NO. 1A, F-1, Irani Market Compound, Yerwada, Pune, Maharashtra, India, 411006 CIN: L74200MH1981PLC024279
EXTRACTS OF CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER & YEAR ENDED 31ST MARCH 2024.
$(3\overline{5})$ in lakhs)
| SN | Particulars | Consolidated | |||||
|---|---|---|---|---|---|---|---|
| Quarter ended | Financial Year Ended | ||||||
| 31.03.2024 31.12.2023 31.03.2023 31.03.2024 31.03.2023 | |||||||
| Audited | Unaudited | Audited | Audited | Audited | |||
| Total Income from Operations | 89.63 | 87.64 | 80.02 | 340.07 | 304.90 | ||
| 2 | Net Profit / (Loss) for the period before tax | 43.98 | 41.78 | 11.11 | 137.70 | 77.09 | |
| 3 | Net Profit / (Loss) for the period after tax | 31.55 | 36.63 | (2.44) | 102.35 | 39.69 | |
| 4 | Total Comprehensive Income for the period [Comprising Profit / (Loss) for the period (after tax) and Other Comprehensive Income (after tax)] |
32.19 | 36.78 | (2.34) | 103.44 | 40.00 | |
| 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 |
ΝA | NA. | NA | 2.323.84 | 2.220.42 | |
| 7 | Basic & Diluted Earnings Per Share (of Rs. 10/- each) (not annualised*) (before extraordinary items) |
$0.15*$ | 0.17 | $(0.01)^*$ | $0.49*$ | $0.19*$ |
The Financial details on Standalone basis are as under
| SN | Particulars | Standalone | Financial Year Ended | ||||
|---|---|---|---|---|---|---|---|
| Quarter ended | |||||||
| $ 31.03.2024 31.12.2023 31.03.2023 31.03.2024 31.03.2023 $ | |||||||
| Audited | Unaudited | Audited | Audited | Audited | |||
| Total Income from Operations | 88.17 | 86.19 | 78.53 | 334.39 | 300.33 | ||
| Profit before tax | 42.70 | 40.73 | 9.76 | 133.10 | 73.24 | ||
| 3 1 | Profit after tax | 30.45 | 35,88 | (3.41) | 98.85 | 36.95 |
Notes:
- 1 The above is an extract of the detailed format of Quater and Year Ended 31st March, 2024 Financial Results filed with the Stock Exchange under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarter Ended and Year Ended 31st March, 2024 Financial Results are available on the websites of the Stock Exchange (www.bseindia.com) and the listed entity (www.pcstech.com).
- 2 The above audited financial results after being reviewed by the Audit committee were approved by the Board of Directors in their meeting held on 10/05/2024.
- 3 Figures for the quarter ended 31.03.2024 and 31.03.2023 are the balancing figures between year ended audited figures and the nine months ended 31.12.2023 and 31.12.2022 respectively, which were subject to limited review.
- 4 Based on the Management approach as defined under Ind-AS 108, Operating segments, the Company operates in one business segment i.e. ITes related Facilty Management Segment, as such it is the only reportable business segment. Since "Revenue from IT enabled services" are much lower as a result of which "Other Income" exceeds "Revenue from Operations"
- 5 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.
- 6 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.
- 7 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 gain arrived on Mark-to-Market basis amounting to Rs. 5.16 Lacs for the current quarter & 17.09 Lacs for the financial year ended 31st March 2024 being reversal of impairment loss has been accounted and classified under "Impairement Loss / (Gain) on financial instruments and Exceptional Items".
- 8 The Statutory Auditors of the Company have expressed an unmodified audit opinon on the Financial Statements.
- 9 Figures of the previous periods have been regrouped/ rearranged wherever necessary to make them comparable with current period's classification.
Vice Chairman
Place: Mumbai Date: 10/05/2024
For PCS Technology Limited Kumar Patni Asho
Size 12 x 21 cm_Annx_XI
OCS
PCS TECHNOLOGY LIM ED ine, Maharashtra, India, 411006
Registered office: S. NO. 1A, F-1, Irani Market Compound, Yerwada, Pu
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER & YEAR ENDED 31ST MARCH 2024
| PART I | A III KINDA | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sr. No. | Particulars | Standalone | Consolidated Financial Year Ended Quarter Ended |
||||||||
| Quarter Ended | Financial Year Ended | 31.03.2023 | 31.03.2024 31.03.2023 |
||||||||
| 31.03.2024 31.12.2023 | 31.03.2023 | 31.03.2024 | 31.03.2023 | 31.03.2024 Audited |
31.12.2023 Unaudited |
Audited | Audited | Audited | |||
| Audited | Unaudited | Audited | Audited | Audited 31.85 |
10.60 | 8.01 | 7.96 | 34.31 | 31.85 | ||
| Revenue from operations (net) | 10.60 | 8.01 | 7.96 | 34.31 | 79.03 | 79.63 | 72.06 | 305,76 | 273.05 | ||
| $\mathbf{H}$ | Other Income | 77.57 | 78.18 | 70.57 | 300.08 | 268,48 | 89.63 | 87.64 | 80.02 | 340.07 | 304.90 |
| Ħ | Total Revenue (I+II) | 88.17 | 86.19 | 78.53 | 334.39 | 300.33 | |||||
| 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 | 21.33 | 80.86 | 82.89 | ||||||||
| (d) Employee benefits expense | 20.72 | 19.52 | 21.33 | 80,86 | 82.89 | 20.72 | 19.52 | 40,49 | 40.04 | ||
| (e) Finance costs | 10.12 | 10.13 | 10.01 | 40.49 | 40.04 | 10.12 | 10.13 | 10.01 | 5.08 | ||
| (f) Impairement / (Gain) on financial instruments and Exceptional Items (Refer Note No. 6) | (5.16) | (6.99) | 12.85 | (17.09) | 5.08 | (5.16) | (6.99) | 12.85 | (17.09) | 18.86 | |
| (g) Depreciation and amortization expense | 4.61 | 4.72 | 4.64 | 18.76 | 18.86 | 4.61 | 4.72 | 4.64 | 18.76 | 80.94 | |
| (h) Other expenses | 15.18 | 18.08 | 19.94 | 78.27 | 80.22 | 15.36 | 18.48 | 20.08 | 79.35 202.37 |
227.81 | |
| Total Expenses | 45.47 | 45,46 | 68.77 | 201.29 | 227.09 | 45.65 | 45,86 | 68.91 | |||
| V | Profit before exceptional items and tax (III-IV) | 42.70 | 40.73 | 9.76 | 133.10 | 73.24 | 43.98 | 41.78 | 11.11 | 137.70 | 77.09 |
| Vł | Exceptional items - income / (expense) | ||||||||||
| VII | Profit before tax (III-IV) | 42,70 | 40.73 | 9.76 | 133.10 | 73.24 | 43.98 | 41.78 | 11.11 | 137.70 | 77,09 |
| VIII | Tax expense | 13.55 | 40.95 | 34.60 | |||||||
| (a) Current tax | 12.25 | 10.45 | 13.17 | 39,85 | 33.50 | 12.43 | 10.75 | ||||
| (b) Deferred tax | |||||||||||
| (b) Taxation pertaining to earlier year | (5.60) | (5.60) | 2.79 | (5.60) | (5.60) 102.35 |
2.80 39.69 |
|||||
| łХ | Profit / (Loss) for the period from continuing operations (VII-VIII) | 30.45 | 35.88 | (3, 41) | 98.85 | 36.95 | 31.55 | 36.63 | (2, 44) | ||
| $\mathsf{X}$ | Profit / (Loss) from discontinued operations | $\overline{a}$ | |||||||||
| XI | Tax expense of discontinued operations | $\bullet$ | |||||||||
| XII | Profit / (Loss) from discontinued operations (after tax) (X-XI) | 36.63 | (2, 44) | 102.35 | 39.69 | ||||||
| XIII | Profit / (Loss) for the period (IX+XII) | 30.45 | 35.88 | (3.41) | 98.85 | 36.95 | 31.55 | $\mathcal{C}^{\prime}$ | |||
| XIV | Other Comprehensive Income | ||||||||||
| A (i) Items that will be reclassified to profit or loss | |||||||||||
| (ii) Income tax relating to items that will be reclassified to profit or loss | $\blacksquare$ | ||||||||||
| B (i) Items that will not be reclassified to profit or loss | 0.64 | 0.20 | 0.10 | 1.24 | 0.38 | 0.64 | 0.20 | 0.10 | 1.24 | 0.36 | |
| (ii) Income tax relating to items that will not be reclassified to profit or loss | (0.05) | (0.15) | (0.07) | (0.05) | (0.15) | (0.07) | |||||
| XV | Total Comprehensive Income for the period (XIII+XIV) | 31.09 | 36.03 | (3.31) | 99.94 | 37.26 | 32.19 | 36,78 | (2, 34) | 103.44 | 40.0 |
| (Comprising Profit / (Loss) and Other Comprehensive Income for the period) | |||||||||||
| XVI | 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 | 2,095.0 |
| XVII | Earning per equity share (of Rs.10/- each) (not annualised*) | ||||||||||
| (1) Basic | $0.15*$ | 0.17 | $(0.02)^*$ | $0.47*$ | $0.18*$ | 0.15" | 0.17 | $(0.01)^*$ | $0.49*$ | 0.19 0.19 |
|
| (2) Diluted | $0.15*$ | 0.17 | $(0.02)^*$ | $0.47*$ | $0.18^*$ | 0.15" | 0.17 | $(0.01)^*$ | 0.49" |
Notes:
5
1 The above audited financial results after being reviewed by the Audit committee were approved by the Board of Directors in their meeting held on 10/05/2024.
Figures for the quarter ended 31.03.2024 and 31.03.2023 are the balancing figures between year ended audited figures and the nine months ended 31.12.2023 and 31.12.2022 respectively, which were subject to limited review. $\overline{2}$ Based on the Management approach as defined under Ind-AS 108, Operating segments, the Company operates in one business segment i.e. ITes related Facilty Management Segment, as such it is the only reportable business segmen $\mathbf{3}$
enabled services" are much lower 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 3 $\overline{4}$ rescribed 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 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.
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 gain arrived on Mark-to-Marke current quarter & 17.09 Lacs for the financial year ended 31st March 2024 being reversal of impairment loss has been accounted and classified under "Impairement Loss / (Gain) on financial instruments and Exceptional Items"
The Statutory Auditors of the Company have expressed an unmodified audit opinon on the Financial Statements. 7
Figures of the previous periods have been regrouped/ rearranged wherever necessary to make them comparable with current period's classification. 8
Place : Mumbai Date: 10/05/2024
For PCS Technology Limite ιđ k์Kumar Patni
∕ice Chairman וממ
Size_24 x 22_cm_Re
S PCS TECHNOLOGY LIMITED Registered office: Irani Market Compound, Om Mahavir Society, Buidling A, 1st Floor,
Flat No.1 & 2, Survey No. 1-A, Yerwada, Pune 411006.
CIN: L74200MH1981PLC024279
TECHNOLOGY
| Sr. | Standalone | Consolidated | ||||
|---|---|---|---|---|---|---|
| No | Particulars | As at | As at | As at | As at | |
| 31-Mar-2024 | 31-Mar-2023 | 31-Mar-2024 | 31-Mar-2023 | |||
| A | ASSETS | |||||
| 1 | Non-Current Assets | |||||
| (a) Property, plant and equipment | 842.80 | 862.07 | 842.80 | 862.07 | ||
| (b) Financial assets | ||||||
| (i) Investments | 50.10 | 50.10 | 0.10 | 0.10 | ||
| (c) Other assets | 110.96 | 107.64 | 110.96 | 107.64 | ||
| Total non-current assets | 1,003.86 | 1,019.80 | 953.86 | 969.80 | ||
| $\mathbf 2$ | Current assets | |||||
| (a) Financial assets | 315.73 | |||||
| (i) Investments | 279.25 | 315.73 | 279.25 | 1.82 | ||
| (ii) Trade receivables | 1.82 3,316.46 |
3,574.82 | 3,423.75 | |||
| (iii) Cash and cash equivalents | 3,464.80 | |||||
| (iv) Loans (b) Current income tax assets (net) |
||||||
| (c) Other assets | 48.53 | 41.77 | 49.45 | 42.64 | ||
| Total current assets | 3,792.58 | 3,675.79 | 3,903.52 | 3,783.94 | ||
| TOTAL ASSETS | 4,796.44 | 4,695.60 | 4,857.38 | 4,753.75 | ||
| Ⅱ. | EQUITY AND LIABILITIES | |||||
| 1 | Equity | |||||
| (a) Share capital | 2,095.07 | 2,095.07 | 2,095.07 | 2,095.07 | ||
| (b) Other equity | 2,264.44 | 2,164.51 | 2,323.84 | 2,220.42 | ||
| Total Equity | 4,359.51 | 4,259.57 | 4,418.91 | 4,315.48 | ||
| $\mathbf{2}$ | Liabilities | |||||
| Non-current liabilities | ||||||
| (a) Financial liabilities | 384.85 | 389.56 | 384.85 | |||
| (i) Long-term borrowings | 389.56 | |||||
| (ii) Other financial liabilities | 2.77 | 3.14 | 2.77 | 3.14 | ||
| (b) Provisions Total non- current liabilities |
392.33 | 387.99 | 392.33 | 387.99 | ||
| $\mathbf{3}$ | Current Liabilities | |||||
| (a) Financial liabilities | ||||||
| (i) Trade and other payables | 5.20 | 5.52 | 6.66 | 7.12 | ||
| (b) Current income tax liabilities (net) 4.54 | 8.04 | 4.61 | 8.69 | |||
| (c) Provisions | 5.27 | 5.31 | 5.27 | 5.31 |
4,796 44 TOTAL EQUITY AND LIABILITIES For PCS Technology Limited
(d) Other liabilities
Total current liabilities
Size_12 x 19_cm_BS
29.59
$46.13$
4,857.38
29.16
$50.27$
4,753.75
Ashok Kumar Patni Vice Chairman
$29.59$
44/60
29.16
$48.03$
4,695.60
S PCS TECHNOLOGY LIMITED
Registered office: Irani Market Compound, Om Mahavir Society, Buidling A, 1st Floor,
Flat No.1 & 2, Survey No. 1-A, Yerwada, Pune 411006.
TECHNOLOGY
CIN: L74200MH1981PLC024279
| (₹in lakhs) Year ended |
||||
|---|---|---|---|---|
| Sr. No |
Particulars | Year ended 31/Mar/24 |
31/Mar/23 | |
| А. | Cash flow from operating activities | |||
| Net profit after tax and extra ordinary items | 98.85 | 36.96 | ||
| Adjustments for: | ||||
| Tax Provision | 34.25 | 36.29 0.31 |
||
| OCI | 1.09 | |||
| CSR Provision | ||||
| CSR Paid | 18.76 | 18.86 | ||
| Depreciation | 40.49 | 40.04 | ||
| Finance cost | (17.09) | 5.08 | ||
| Gain / Loss / Impairment on investments and sundry balances | (0.98) | (0.40) | ||
| Fixed assets written off / Profit or Loss of Sale of Fixed Assets | (237.54) | (202.96) | ||
| Interest received | (62.17) | (65.83) | ||
| Operating profit before working capital changes | ||||
| Decrease/ (increase) in trade and others receivables | (1.29) | (2.97) | ||
| Decrease/ (increase) in inventories | ||||
| (Decrease)/ increase in trade and other payables | 0.92 | 13.49 | ||
| Cash generated from operations | (62.54) | (55.30) | ||
| Income tax paid (net of refunds) | (34.25) | (31.23) | ||
| Net cash flow from/ (used in) operating activities | (96.80) | (86.53) | ||
| В. | Cash flow from investing activities | |||
| Purchase of fixed assets | ||||
| Purchase of non-current investments | 53.58 | 3.58 | ||
| Bank Fixed Deposits | ||||
| Proceeds from sale of fixed assets | 1.48 | 1.55 | ||
| Interest received | 230.57 | 195.19 | ||
| Net cash from/ (used in) investing activities | 285.63 | 200.32 | ||
| C. | Cash from financing activities | |||
| Repayment of borrowings (net) | (4.71) | (4.26) | ||
| Finance cost | (35.78) | (35.78) | ||
| Net cash from/ (used in) financing activities | (40.49) | (40.04) | ||
| Net increase/ (decrease) in cash and cash equivalents | 148.34 | 73.75 | ||
| Cash and cash equivalents at beginning of the year | 3,316.46 | 3,242.71 | ||
| Cash and cash equivalents at end of the year | 3,464.80 | 3,316.46 |
Ashok Kumar/Patni Vice Chairman
IS PCS TECHNOLOGY LIMITED
Registered office: Irani Market Compound, Om Mahavir Society, Buidling A, 1st Floor, Flat No.1 & 2, Survey No. 1-A, Yerwada, Pune 411006.
TECHNOLOGY
$\mathbb{R}^2$
CIN: L74200MH1981PLC024279
| Year ended | |||
|---|---|---|---|
| Sr. No |
Particulars | 31/Mar/24 | 31/Mar/23 |
| Α. | Cash flow from operating activities | ||
| Net profit after tax and extra ordinary items | 102.34 | 39.70 | |
| Adjustments for: | |||
| Tax Provision | 35.35 | 37.40 | |
| OCI | 1.09 | 0.31 | |
| CSR Provision | |||
| CSR Paid | |||
| Depreciation | 18.76 | 18.86 | |
| Finance cost | 40.49 | 40.04 | |
| Gain / Loss / Impairment on investments and sundry balances | (17.09) | 5.08 | |
| Fixed assets written off / Profit or Loss of Sale of Fixed Assets | (0.98) | (0.40) | |
| Interest received | (243.22) | (207.53) | |
| Operating profit before working capital changes | (63.26) | (66.55) | |
| Decrease/ (increase) in trade and others receivables | (1.29) | (2.45) | |
| Decrease/ (increase) in inventories | |||
| (Decrease)/ increase in trade and other payables | 0.20 | 14.62 | |
| Cash generated from operations | (64.34) | (54.38) | |
| Income tax paid (net of refunds) | (35.35) | (32.54) | |
| Net cash flow from/ (used in) operating activities | (99.69) | (86.93) | |
| В. | Cash flow from investing activities | ||
| Purchase of fixed assets | (0.07) | ||
| (Purchase)/ sale of non-current investments | 53.58 | 3.58 | |
| Bank Fixed Deposits | |||
| Proceeds from sale of fixed assets | 1.55 | 1.55 | |
| Interest received | 236.19 | 199.52 | |
| Net cash from/ (used in) investing activities | 291.26 | 204.65 | |
| C. | Cash from financing activities | ||
| Repayment of borrowings (net) | (4.71) | (4.26) | |
| Finance cost | (35.78) | (35.78) | |
| Net cash from/ (used in) financing activities | (40.49) | (40.04) | |
| 151.07 | 77.68 | ||
| Net increase/ (decrease) in cash and cash equivalents | 3,346.07 | ||
| Cash and cash equivalents at beginning of the year | 3,423.75 | ||
| Cash and cash equivalents at end of the year | 3,574.82 | 3,423.75 |
Ashok Kumar Patni Vice Chairman
10th May, 2024
The Secretary The Bombay Stock Exchange Ltd. Phiroze Jeejeebhoy Towers 27th Floor, Dalal Street Mumbai 400 023
Dear Sir/Ma'am,
Ref : Security Code no. 517119
Sub: Disclosure of the Impact of Audit Qualifications (un- modified) by the Listed Entities under Regulation 33/52 of SEBI (LODR), (Amendment) Regulations, 2016
Sub: Declaration in respect of unmodified opinion on audited financial statements for the financial year ended March 31, 2024.
In terms of SEBI Circular CIR/CFD/CMD/56/2016 dated May 27, 2016, we hereby declare and confirm that the Statutory Auditors of the Company, M/s. Vinod K Mehta & Co., Chartered Accountants have issued an unmodified audit report on standalone and consolidated financial results of the company for the financial year ended March 31, 2024.
We request you to kindly take the above information on record.
Thanking you
Yours faithfully, For PCS Technology Limited Bhaskar Patel Chief Executive Officer BHASKAR JAGUBHAI PATEL Digitally signed by BHASKAR JAGUBHAI PATEL Date: 2024.05.10 13:48:14 +05'30'
PCS TECHNOLOGY LIMITED