PCS Technology Ltd. — Interim / Quarterly Report 2020

Feb 7, 2020

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

for the Third quarter and Nine Months ended 31st December, 2019 which was taken on record at the meeting of the Board of Directors of the Company held today at Nariman Point.

Thanking yu

Director \ (Din:00014194) PCS TECHNOLOGY LIMITED

C i Registered Office: 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,Mahape,Navi Mumbai- 400 710. TECHNOLOGY Tel.:No.: 022-41296111 » Fax: 91224129082 * Website: www.pcstech.com

+ Email: investorsgrievances@pcstech.com * CIN: L74200MH1981PLC024279 EXTRACTS OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2019

	TECHNOLOGY PCS C i Registered Office: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi- Pune- 411015.						LIMITED
	Corp. Office: 8th Floor, Technocity, Plot No.X-5/3,Mahape,Navi Mumbai- 400 710. TECHNOLOGY Tel.:No.: 022-41296111 » Fax: 91224129082 * Website: www.pcstech.com
	+ Email: investorsgrievances@pcstech.com * CIN: L74200MH1981PLC024279
	EXTRACTS OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE				MONTHS ENDED 31ST DECEMBER 2019
							(Rs. in lakhs)
SN	Particulars		Quarter ended		Consolidated	Nine Months Ended Financial Year
					31.12.2019 30.09.2019 31.12.2018 31.12.2019 31.12.2018) 31.03.2019		Ended
					Unaudited Unaudited Unaudited Unaudited Unaudited		Audited
	1 Total Income from Operations 2 Net Profit / (Loss) for the period (before Tax,	120.86 47.43	109.29 6.16	103.44 6.76	339.70] 88.77	382.79 103.92	486.08 71.45
	Exceptional and/or Extraordinary items) 3 Net Profit / (Loss) for the period before tax	(147.35)	(322.69)	6.62]	(434.86)	(7.73)}	(128.55)
	(after Exceptional and/or Extraordinary items) 4 Net Profit / (Loss) for the period after tax	(137.91)	(327.44)	5.51]	(433.59)}	(32.84)}	(222.77)
	(after Exceptional and/or Extraordinary items) 5 Total Comprehensive Income for the period [Comprising Profit / (Loss) for the period (after tax)	(140.67)	(330.20)	2.19}	(440.76)}	(43.03)}	(209.34)
	and Other Comprehensive Income (after tax)] 6 Equity Share Capital	2,095.07	2,095.07}	2,095.07]	2,095.07]	2,095.07)	2,095.07
	7 Reserves (excluding Revaluation Reserve) as shown in the Audited Balance Sheet of the previous year	NA	NA	NA	NA'	NA	2586.36
	8 Basic & Diluted Earnings Per Share (of Rs.10/-each) (not annualised * ) (before extraordinary items)	(0.66)*	(1.56)*	0.03*	(2.07)*	(0.16)*	(1.06)
SN	The Financial details on Standalone basis are as under Particulars	Standalone
			Quarter ended		Nine Months Ended Financial Year Ended
					31.12.2019 30.09.2019) 31.12.2018 31.12.2019/31.12.2018 31.03.2019
	1 Total Income from Operations	119.72	107.97	102.36	Unaudited Unaudited Unaudited Unaudited Unaudited; 335.93	379.08	Audited 480.73
	2 Profit before tax 3 Profit after tax	(147.19)} (137.71)	(322.91) (327.66)	5.95] 4.84]	(436.19)}	(10.98); (434.88) _ (36.09)}	(117.10) (210.02)
	Notes: 1 The above is an extract of the detailed format of Unaudited Quaterly 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 Nine Months ended Financial Results are available on the websites of the Stock Exchange (www.bseindia.com) and the listed entity (www.pestech.com).
	2 The above unaudited financial results after being reviewed by the Audit committee were approved by the Board of Directors in their meeting held on 7th February 2020. These results have been subjected to limited review carried out by the Statutory Auditors.
	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 the only reportable business segment.
	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 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.
	5 During the current period, the Company has availed Sabka Vishwas (Legacy Disputes Resolution) 2019 and paid Rs 167.58 Lakhs to ae the central Govt in complete resolution of past disputed Service Tax liability in accordance to the provisions of the Scheme. The said
	amount is included in Items". echnolog owned one.of the wholly the 18th December 204 9 as per the certificate of Dissolution issued by the autorities ofthe State of New Jersey (USA). In view of this,	subsidiary of	the company	stands di	its		existence comes to.an end on
	the consolidated Statement of Profit and Loss Account of the Company has been prepared excluding the financials figures of the dissolved entity.
7 The Company, in the past has invested funds in Bonds. The Market value/Resale value of some of the bonds have declined, On the ground of this external factor, the excess of carrying value over realisable value amounting to Rs 27.19 Lakhs for the current quarter and Rs 355.34 Lakhs for the nine months period is accounted for as "Exceptional Item". Exceptional item for the year ended 31st March 2019 include loss of Rs. 200 Lakhs on inter corporate deposits on the basis of management assesssment.
	8 Figures of the previous periods have been regrouped/ rearranged wherever necessary to make them comparable with current period's classification,
	Mumbai Place:				For PCS	Technology Ashok Vice	Limited Kumar Patni Chairman
	February 2020 Date : 7th					DIN:	00014194

Size: 12x21 ¢

For PCS Tec' ce Chairman

NCS PCS TECHNOLOGY LIMITED

	TECHNOLOGY NCS PCS				LIMITED
	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@pestech.com * CIN: L74200MH1981PLC024279
PART!	OF UNAUDITED FINANCIAL RESULTS							FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2019			lidated		in lakhs)
,	Sr.No. Particulars		Quarter ended	Standal		Nine Months Ended	Financial Year Ended		Quarter ended	Cc	Nine Months Ended		Financial Year Ended
	Revenue from operations (net)	7.55	7.18	5.08	23,50	50.51	58.08	31.12.2019 30.09.2049 34.12.2018 31.12.2019 31.12.2018 31.03.2019 31.12.2019 30.09.2019 31.42.2018 31.12.2019 31.12.2018 31.03.2019 Unaudited Unaudited Unaudited Unaudited Unaudited Audited Unaudited Unaudited Unaudited 7.55	7.78	5.08	23.50	Unaudited Unaudited Audited 50.51	58.08
tl I	Other Income Total Revenue (I+ll)	112.47 119.72	100.19 107.97	97.28 102.36	312.43 335.93	328.57 379.08	422.65 480.73	113.31 120.86	101.51 109.29	98.36 103.44	316.20 339.70	332.28 382.79	428.00 486.08
"WV	Expenses (a) Cost of material consumed	-	:	-	<		e		= i	@ -	- -	i 3	o -
	(b) Purchase of stock-in-trade (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (d) Employee benefits expense )	a - 23.00	a - 21.26	a - 43.55	a - 66.30	we zi 101.77	x x 132.71	+ z 23.00	é 21.26	43,55	: 66.30	s 101.77	= 132.71
	(e) Finance costs ) (f) Depreciation and amortization expense (g) Other expenses	12.29 6.30 30.55	12.92 6.33 62.22	11.93 6.78 34.01	37.20 48.93 126.77	37.39 22.06 417.19	49.29 28.38 187.45	12.29 6.30 31.84	12.92 6.33 62.62	11.93 6.78 34.42	37.20 18.93 128.50	37.39 22.06 117.65	49.33 28.38 204.21
V	Total Expenses Profit before exceptional items and tax (Ill-IV)	72.44 47.58	102.73 §.24	96.27 6.09	249.20 86.73	278.41 100.67	397.83 82.90	73.43 47.43	103.13 6.16	96.68 6.76	250.93 88.77	278.87 103.92	414.63 71.45
Vi Vil__	Exceptional items - income / (expense) Profit / (Loss) before tax (V+VI) Vill Tax expense	(194.77) (147.19)	(328,15) (322.91)	(0.14) 5.95	(22.92)} (436.19)	(111.65) (10.98)	(200.00) (117.10)	(194.78) (147,35)!	(328.85) (322,69)	(0.14)} 6.62	(623.63) (434.86)	(111.65); (7.73)	(200.00) (128.55)
	(a) Current tax (b) Deferred tax (b) Taxation pertaining to earlier year	(9.48) -	3.12 - 1.63	1.1 : :	2.52 - (3.83)	22.11 - 3.00	24.00 - 68.92	(9.48) - 0.04	3.12 - 1.63	114 - -	2.52 : (3.79)	22.11 - 3.00	25.26 : 68.96
IX [xX	operations (VII-Vill) Profit / (Loss) for the period from inuing Profit / (Loss) from di: inued operati	- (137.71) -	(327.66) -	4,84	(434.88)	(36.09) -	(210.02) -	(137.91) :	(327.44)	5.51 :	(433.59)	(32.84) :	(222.77) :
Xl XIL__ XIll	Tax expense of discontinued operations Profit / (Loss) from discontinued operations (after tax) (X-XI) Profit / (Loss) for the period (IX+XIl)	" : (137.74)	" : (327.66)	: 4.84	: (434.88)	- : (36.09)	- : (210.02)	: (137.91)	: : (327.44)	: 5.51]	: (433.59)	: (32.84);	= (222.77)
XIV__	Other Comprehensive Income A (i) Items that will be reclassified to profit or loss	-	-	-	-		=	3	-	Fi	=
	(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 (ii) Income tax relating to items that will not be reclassified to profit or loss	- (3.73) 0.97	- (3.73) 0.97	- (4.43) 4.14	- (9.69) 2.52	- (13,29) 3.10	- 17.91 (4.48)	- (3.73) 0.97	- (3.73) 0.97	- (4.43) 111	- (9.69) 2.52	- (13.29) 3.10	17.91 (4.48)
XV	Total Comprehensive Income for the period (XIll+XIV) (Comprising Profit / (Loss) and Other Comprehensive Income for the period) XVI Equity Share Capital (face value of Rs. 10/- each)	(140.47) 2,095.07	(330.42) 2,095.07)	41.52 2,095.07	(442.05) 2,095.07}	(46.28) 2,095.07	(196.59) 2,095.07	(140.67)} 2,095.07)	(330.20) 2,095.07	2.19 2,095.07	(440.76) 2,095.07	(43.03); 2,095.07}	(209.34) 2,095.07
	"Xvi Earning per equity share (of Rs.10/- each) (not annualised*) (1) Basic (2) Diluted	(0.66)* (0.66)	(1.56)* (1.56)	0.01* 0.01	(2.08)* (2.08)	(0.22)* (0.22)	(1.00) (1.00)	(0.66)* (0.66)	(1.56)* (1.56)	0.03* 0.03	(2.07)* (2.07)	(0.16)* (0.16)	(1.06) (1.06)
PART Il A	PARTICULARS OF SHAREHOLDING
1 }	Public Shareholding Number of equity shares L ___ Percentage of shareholding	62,50,682 29.83	62,50,682) 29.83	29.83	62,50,682 62,50,682/ 29.83	29.83	62,50,682 62,50,682 29.83	62,50,682} 29.83	29.83	29.83	62,50,682 62,50,682 62,50,682 62,50,682) 29.83	29.83	62,50,682 29.83
2.	Promoter Promoters and group shareholding Pledged / Encumbered (a) Number of shares
	Percentage of shares (as a % of the total shareholding of promoter & promoter group)	: - -	- - -	: - -	: - -	: - -	: -	e - "	s ' i	= 2 "	= " -	3	=
	Percentage of shares (as a % of the total share capital of the company) (b) Non Encumbered Number of shares							1,46,99,995 1,46,99,995] 1,46,99,995 1,46,99,995 1,46,99,995 1,46,99,995 1,46,99,995/ 1,46,99,995 1,46,99,995 1,46,99,995 1,46,99,995) 1,46,99,995
	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)	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	100.00 70.17	100.00 70.17	100.00 70.17
C 'B__ [	PARTICULARS OF INVESTOR COMPLAINTS Pending at the beginning of the quarter Received during the quarter						Quarter ended 31.12.2019 Nil 2
	Disposed of during the quarter Remaining unresolved at the end of the quarter						2 Nil
Notes:	+ The above unaudited financial results after being reviewed by the Audit committee were approved by the Board of Directors in their meeting held on 7th February 2020. These results have been subjected to limited review carried out by the Statutory Auditors. 2 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 the only reportable business segment. Due to Management decision,
	"Revenue from IT enabled services" are much lower as compared to previous quarters. As a result of which "Other Income" exceeds "Revenue from Operations" 3 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 measuremen:
on	principles of Ind-AS 34. 4 The Financials Results have been prepared in accordance with principles of Indian Accouting Statndard (IndAS) as specified by ICAI & section 133 of The Companies Act 2013. During the current period, the Company has availed Sabka Vishwas (Legacy Disputes Resolution) scheme 2019 and paid Rs 167.58 Lakhs to the central Govt in complete resolution of past disputed Service Tax liability and Excise Tax liability in accordance to the provisions of the Scheme. The said amountis included in "Exceptional Items".
fo	PCS Technology USA Inc, one of the wholly owned subsidiary of the company stands dissolved and its existence comes to an end on the 18th December 2019 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 has been prepared excluding the financials figures of the dissolved entity. 7 The Company, in the past has invested funds in Bonds. The Market value/Resale value of some of the bonds have declined. On the ground of this external factor, the excess of carrying value over realisable value amounting to Rg 27.19 Lakhs for the current quarter and
Place: Mumbai	Rs 355.34 Lakhs for the nine months period is accounted for as "Exceptional Item". Exceptional item for the year ended 31st March 2019 include loss of Rs. 200 Lakhs on inter corporate deposits on the basis of management assespsment. 8 Figures of the previous periods have been regrouped/ rearranged wherever necessary to make them comparable with current period's classification.												7 a
	Date : 7th February 2020

Ashok Kumar Patni Vice Chairman

For PC Teghnglogy Limited

Size: 24x29 cr

VINOD K. MEHTA & CO. B-5, SATYAM SHOPPING CENTRE, Tel =: + «91-22 2102 4280 2ND FLOOR, M. .G. ROAD, Tel/Fax: + 91-22 6725 5633 Chartered Accountants GHATKOPAR (E), MUMBAI - 400077. E-mail : dvemehta@gmail.com

Independent Auditor's Review Report on Quarterly Standalone Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and_ Disclosure Requirements) Regulations, 2015

To, The Board of Directors PCS TECHNOLOGY LIMITED, Mumbai

&

We have reviewed the accompanying statement of Standalone Unaudited Financial Results of PCS Technology Limited (the "Company") for the third quarter and nine months ended as on 31° December, 2019. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. This statement has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 " Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on these financial statements based on our review,

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410. "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and applying analytical procedures to financial data and thus provides less assurance than an audit. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of Unaudited Financial Results prepared in accordance with applicable Indian Accounting Standards and other recognized Accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Vinod K Mehta & Co. Chartered Accountant

Partner

Place: Mumbai Date : 07/02/2020

VINOD K. MEHTA & Co. Ba, SANA SHOPPING CENTRE, Tel. 24 91-22 2102 4280

ie. 2 FLOOR, M. -G. ROAD, Tel/Fax :+ 91-22 6725 5633 Chartered Accountants GHATKOPAR (E), MUMBAI - 400077. E-mail : cvameha@arelhesn

Independent Auditor's Review Report on Quarterly Consolidated Unaudited Financial Results of the Company Pursuant to the Regulation 33_of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To,

The Board of Directors PCS TECHNOLOGY LIMITED, Pune.

i. We have reviewed the accompanying statement of Consolidated Unaudited Financial Results of PCS Technology Limited (the "Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the third quarter ended as on 31° December,2019 and for the period from 1" April 2019 to 31" December 2019 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended .Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended as on 31° December 2019 and the corresponding period from 1* April 2019 to 31 December 2019, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review.

1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3, We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and applying analytical procedures to financial data and thus provides less assurance than an audit. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing, We have not performed an audit and accordingly, we do not express an audit opinion.

1. We also performed procedures in accordance with the Circular No. CIR/CFD/CMD 1/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

2. The Statement includes the results of the following entities:

3. 1. PCS Technology USA, Inc.
4. 1. PCS Positioning Systems (India) Limited
5. 1. PCS InfoTech Limited, India

6. Based on our review conducted and procedures performed as stated in paragraph 3 above, and based on the consideration of the review reports of other auditor referred to in paragraph 7 below nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the >

recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other recognized Accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015,as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Our conclusion is not modified in respect of this matter.

1. We did not review the interim financial results of the 3 subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs.1,13,382 ,total net profit/(loss) after tax of Rs. (18,555) quarter ended as on 3 1° December 2019.The consolidated unaudited financial results also includes the Group's share of net profit/(loss) after tax of Rs. (1,37,90,557) and total comprehensive income / loss of Rs. (1,40,66,868) for the quarter ended as on 31° December 2019 and cash flows (net) of Rs 94,94,783 as at 3 1°' December 2019 as considered in the consolidated unaudited financial results. These interim results have been reviewed by other auditor whose reports have been furnished to us by the Management and our conclusion on the statements, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditor and the procedures performed by us as stated in paragraph 3 above.

For Vinod K Mehta & Co.

R BIW 2 —

Divyesh Mehta Partner (ICAI Registration no. 111508W) Membership Number: 044293

UDIN: 20044293 AAAAAT3700

Place: Mumbai Date : 07/02/2020