PCS Technology Ltd. — Interim / Quarterly Report 2021

Feb 10, 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 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 Financial results of the Company 2. Copy of Auditors Report-of M/s. Vinod K Mehta & Co. Chartered Accountant

for the Third quarter and Months ended 31st December, 2020 which was taken on record at the meeting of the Board of Directors of the Company held today through Video Conferencing.

Thanking you Yours For P hnglogy Limited

Me r Ashok atni Director (Din:00014194)

a

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.pestech.com Registered Office: 82/6/1, Solar Park, Shop No.6, Pune - Alandi Road, Dattanagar, Dighi- Pune - 411015 CIN NO.: L74200MH1981PLC024279

DCS PCS TECHNOLOGY LIMITED

1ecnnotocy 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. Tel.:No.: 022-41296111 » Fax: 91224129082 + Website: www.pcstech.com + Email: investorsgrievances@pcstech.com + CIN: L74200MH1981PLC024279

EXTRACTS OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2020

	1ecnnotocy 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.
	Tel.:No.: 022-41296111 » Fax: 91224129082 + Website: www.pcstech.com
	+ Email: investorsgrievances@pcstech.com + CIN: L74200MH1981PLC024279 EXTRACTS OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR
	THE THIRD QUARTER AND NINE MONTHS ENDED 31ST DECEMBER					2020
							(Rs. in lakhs)
SN	Particulars				Consolidated
			Quarter ended				Nine Months Ended Financial Year
							Ended
			Unaudited Unaudited) Unaudited Unaudited Unaudited)
	1 Total Income from Operations	68.11					31.12.2020 30.09.2020) 31.12.2019 31.12.2020)31.12.2019) 31.03.2020 Audited
			73.30!	120.86)	218.12)	339,70}	426.35
	2 Net Profit / (Loss) for the period	8.19	18.81	47.43	55.19	88177	131.29
	(before Tax, Exceptional and/or Extraordinary items) 3 Net Profit / (Loss) for the period before tax	68.75	43.64)	(147.35)	110.58]	(434.B6)	(531.08)
	(after Exceptional and/or Extraordinary items) 4 Net Profit / (Loss) for the period after tax	67.12	(10.37)}	(137.91)	76.56]	(433.69))	__ (528.39)
	(after Exceptional and/or Extraordinary items)
	5 Total Comprehensive Income for the period [Comprising Profit / (Loss) for the period (after tax)	66.87	(10.62)	(140.67)	75.81]	(440.76)	(531.07)
	and Other Comprehensive Income (after tax)]
	6 Equity Share Capital	2,095.07}	2,095.07	2,095.07]	2,095.07]	2,095107	2,095.07
7	Reserves (excluding Revaluation Reserve) as shown in the Audited Balance Sheet of the previous year	NA	NA	NA	NA	NA	NA
8	Basic & Diluted Earnings Per Share (of Rs.10/-each)	0.32*	(0.05)*	(0.66)*	0.37*	(2.07)*	(2.52)
	(not annualised * ) (before extraordinary items) The Financial details on Standalone basis are as under
SN	Particulars				Standalone
			Quarter ended				Nine Months Ended Financial Year
		_	_	oe			Ended
							31.12.2020 30.09.2020 31.12.2019 31.12.2020/31.12.2019) 31.03.2020
	1 Total Income from Operations	66.87	Unaudited] Unaudited Unaudited Unaudited Unaudited! 72,23	119.72	214,59	335,93	Audited 421.13
	2 Profit before tax	67.63		12.75] (447.19)	107.49]	(436,19)	(633.44)

Notes:

1 The aboveis an extract of the detailed format of 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 Financial Res! onthe websites of the Stock Exchange (www.bseindia.com) and the listed entity (www.pcstech.com). ults are available

The above unaudited financial results after being reviewed by the Audit committee were approved by the Board of meeting held on 10th February 2021. Directors in their

Based on the Management approach as defined under Ind-AS 108, Operating segments, the Company operates segment i.e. [Tes related Facilly Management Segment, as such itis the only reportable business segment. Due decision, "Revenue from IT enabled services" are much lower as compared to previous quarters. As a result of whic exceeds "Revenue from Operations" in one business to Management h "Other Income"

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 Fin prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and principles generally accepted in India. Financial for the quarter have been prepared in accordance with the measurement principles of Ind-AS 34. ancial Reporting' other accounting recognition and

The Consolidated Financials Results have been prepared in accordance with principles of Indian Accouting Star specified by ICAI & section 133 of The Companies Act 2013 dard (IndAS) as

• PCS Technology USA Inc, one of the wholly owned subsidiary of the company stands dissolved and its existence comes to an end as per the certificate of Dissolution issued by the autorities of the State of New Jersey (USA). In view of this , the consol of Profit and Loss Account of the Company for the period ended 31st March 2020 has been prepared excluding the of the dissolved entity. dated Statement inancials figures
• The Company, in the past has invested funds in Bonds. The market value of some of the bonds on mark-to-m| declined in earlier periods. In the current quarter ended 31 December 2020, market value has resulted into gain .A current quarter, the excess over the carrying value (unrealised gain) amounting to Rs.60.56 Lacs and net gq Rs.55.39 Lacs for nine months period has been accounted for as "Exceptional Item". The "Exceptional Item" for the quarter ended December 2019 was amounting to Rs. 194.78 Lakhs and for year ended 31st March 2020 was amounting to includes Rs 167.58 lacs for the amount paid for in availing Sabka Vishwas (Legacy Disputes Resolution. Goverment in complete resolution of past disputed Service tax liability. arket basis have cordingly In the in amounting to Rs. 662.37. This P019) to Central

The Statutory Auditors of the Company have carried out the limited review for quarter ended December 31, 202! statements. on the financial fe

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

10 Figures of the previous periods have been regrouped/ rearranged wherever necessary to make them compar period's classification.

able with current For PCS Technology Limited Ashok Kumar Patni Vice Chairman DIN: 00014194

Place: Mumbai Date : 10/02/2021

ACS PCS TECHNOLOGY LIMITE Regd. Off.: 62/6/1, Solar Park, Shop no.6, Pune-Alandi Poa aera Dighi- Pune- 411015; Corp. Office: 8th Floor, Technocily, Plot No.X-5/3, Mahape, Navi Mumbai- 400 710.

	PCS TECHNOLOGY LIMITED DCS Regd. Off.: 82/6/1, Sciar 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
	STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2020												$($ * in lakhs)
PART I	Sr. No. Particulars		Quarter ended		Standalone	Nine Months Ended	Financial		Quarter ended		Consolidated Nine Months Ended		Financial
		31.12.2020	30.09.2020 Unaudited	Unaudited	31.12.2019 31.12.2020 31.12.2019 Unaudited	Unaudited	Year Ended 31.03.2020	31.12.2020	30.09.2020	31.12.2019	31.12.2020 31.12.2019 Unaudited		Year Ended 31.03.2020
	Revenue from operations (net) Other Income	Unaudited 7,61 59.26	6.17 66.06	7.55 112.17	19.60 194.99	23.50 312.43	Audited 29.90 391.23	Unaudited 7.61 60.50	Unaudited 6.17 67.13	Unaudited 7.55 113.31	19.60 198.52	Unaudited 23.50 316.20	Audited 29.90 396.45
	Total Revenue (I+II) Expenses	66.87	72.23	119.72	214.59	335.93	421.13	68.11	73.30	120.86	218.12	339.70	426.35
	(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	19.06	20.32	23.00	59.11	66.30	84.46	19.06	20.32	23.00	59.11	66.30	84.46
	(e) Finance costs (f) Depreciation and amortization expense	9.82 6.36	10.28 6.40	12.29 6.30	28.91 18.93	37.20 18.93	49.31 25.10	9.82 6.36	10.28 6.40	12.29 6.30	28.91 18.93	37.20 18.93	49.31 25.10
	(g) Other expenses Total Expenses Profit before exceptional items and tax (III-IV)	24,56 59.80 7.07	17.31 54.31 17.92	30.55 72.14 47.58	55.54 162.49 52.10	126.77 249.20 86.73	134.03 292.90 128.23	24.68 59.92 8.19	17.49 54.49 18.81	31.84 73.43 47.43	55.98 162.93 55.19	128.50 250,93 88.77	136.19 295.06 131.29
	Exceptional items - income / (expense) Profit before tax (V+VI)	60.56 67.63	(5.17) 12.75	(194.77) (147.19)	55.39 107.49	(522.92) (436.19)	(661.67) (533.44)	60.56 68.75	(5.17) 13.64	(194.78) (147.35)	55.39 110.58	(523.63) (434.86)	(662.37) (531.08)
	Tax expense Current lax	1.33	8.09	(9.48)	17.50	2.52		1.63	8.39	(9.48)	18.40	2.52	1.10
	Deferred tax Taxation pertaining to earlier year		15.62		15.62	(3.83)	(3.83)		15.62	0.04	15.62	(3.79)	(3.79)
	Profit / (Loss) for the period from continuing operations (VII-VIII) Profit / (Loss) from discontinued operations	66,30	(10.96)	(137.71) $\bullet$	74.37	(434.88)	(529.61)	67.12	(10.37)	(137.91)	76.56	(433.59)	(528.39)
	Tax expense of discontinued operations Profit / (Loss) from discontinued operations (after tax) (X-XI) Profit / (Loss) for the period (IX+XII)	66.30	(10.96)	٠ $\bullet$ (137.71)	74.37	(434.88)	$\blacksquare$ (529.61)	67.12	$\blacksquare$ $\bullet$ (10.37)	Гe (137.91)	F 76.56	(433.59)	٠ (528.39)
	Other Comprehensive Income A (I) Items that will be reclassified to profit or loss
	(iii) 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	(0.33)	(0.34)	(3.73)	(1.00)	(9.69)	(3.58)	(0.33)	(0.34)	(3.73)	(1.00)	(9.69)	(3.58)
	(iii) Income tax relating to items that will not be reclassified to profit or loss Total Comprehensive Income for the period (XIII+XIV)	0.08 66.05	0.09 (11.21)	0.97 (140.47)	0.25 73.62	2.52 (442.05)	0.90 (532.29)	0.08 66.87	0.09 (10.62)	0.97 (140.67)	0.25 75.81	2.52 (440.76)	0.90 (531.07)
	(Comprising Profit / (Loss) and Other Comprehensive Income for the period)	2,095.07	2,095.07	2,095.07	2,095.07	2,095.07	2,095.07
	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
	Earning per equity share (of Rs.10/- each) (not annualised*) Basic Diluted	$0.32$ $0.32$	$(0.05)^{}$ $(0.05)^{}$	$(0.66)^*$	0.35'' 0.35''	$(2.08)$ *	(2.53)	$0.32*$	$(0.05)^*$	$(0.66)^{*}$	$0.37*$	(2.07)	(2.52)
	PARTICULARS OF SHAREHOLDING			$(0.66)^*$		$(2.08)$ *	(2.53)	$0.32*$	$(0.05)^*$	$(0.66)$ *	$0.37*$	(2.07)	(2.52)
XVI. XVII (1) (2) PART II	Public Shareholding Number of equity shares	6,250,738	6,250,682	6,250,682	6,250,682	6,250,682	6,250,682	6,250,738	6,250,682	6,250,682	6,250,738	6,250,682	6,250,682
	Percentage of shareholding Promoters and Promoter group shareholding Pledged / Encumbered	29.83	29.83	29.83	29.83	29.83	29.83	29.83	29.83	29.83	29.83	29.83	29.83
(a)	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)
	Non Encumbered Number of shares				14,699,939 14,699,995 14,699,995 14,699,995 14,699,995 14,699,995						100.00	14,699,939 14,699,995 14,699,995 14,699,939 14,699,995 14,699,995 100.00
	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	70.17	70.17	100.00 70.17
	PARTICULARS OF INVESTOR COMPLAINTS Pending at the beginning of the quarter Received during the quarter						Quarter ended 31.12.2020 Nil $\theta$

	CS PCS	TECHNOLOGY		LIMITED
p	Registered Office: 82/6/1, Solar Park, Shop no.6, Pune-Alandi Road, Dattanagar, Dighi-Pune- 411015 TECHNOLOGY (Previous Address: Office no 1, Gal No 478, Alandi Markaal Road, Tal. Khed, Dist.: Pune -412 106), Corp. Office: 8th Floor, Technocity, Plot No.X-5/3,Mahape,Navi Mumbal- 400 710. Tel.:No.: 122-41286111 + Fax: 91224129082 + Website: www.postech.com + Email: investorsgrievances@pcstech.com * CIN: L74200MH1981PLC024279
se T Ne	oO oo - Particulars	] _ Standalone	_ _	Consolidated	{zin lakhs)
	} ss cc et	—Asat__ _Asat__ __[91-Dee-2020 31-Mar-2026 34-Dec-2020) 31-Mar-2020		Asat_	Asat
	A ASSETS
	1 Non-Current Assets
	{a} Property, plant and equipment	S179	828.57	911.79	928.57
	(b) Financial assets (i) Investments	* 50.20	« 50.20	0.20	- 0.20
	(c) Glher assets Total non-current assets	148.39	126,00	116.53	127.05
		4,080.38	1,104.77	1,030.52	1,055.82 _
	2 Current assets
	(a) Financial assets (i) Investrnents	S71Aa	316.05
	(il) Trade receivables	279	0.69	371.43 2.79	316.05 0.69
	(iv) Cash and cash equivalents (v) Other balances with banks	3,118.99 -	9,047.25 -	3,220.82	4145.82
	(vi) Loans	35.77	29.90	e 36.63	- 30.88
				§.21	14.56
	(b) Current income tax Habilities (nel)	5.04
	(c) Other assets Total current assets	08 3534.98	2 341047)	0.06 3,636.94	0.92 3,508.72
	TOTAL ASSETS	4,615.36
			4,514.94		6 4,564.54
	I. EQUITY AND LIABILITIES
	1 Equity
	(a) Share capital (b) Other equity	2,095.07	2,095.07	2,095.07	2,095.07
	Total Equity	_ 2073.48 4,168.55	1,999.87 4,094.94]	2124.60 4.21970 4443.89	2,048.82
	2 Liabilities
	Non-current liabilities
	(a) Financial liabilities (l) Long-term borrowings
	(ii) Other financial liabilities	375.86 24.00	374.77 24.75	375.86 24.00	STAT 24.75
	tb} Provisions	431	3.50	4.04	3.50
	(6) Other tabilties Total non- current liabilities	wedge 40417	=	=	:
			403.02	404.47
	3 Current Liabilities {a} Financial liabilities
__	(i) Trade and other payables	32.66	Wate	33.61	8.37
	(b) Current income tax liabilities (nat) (¢) Provisions	-	:	7	"
	(d) Other abilities	473 25	4.73 453	4.73 5.25	473 4.53
	Total current liabilities oral equrry ano Lnaiumes	4264) __ _4815.6 4si496 asor4s 456454		t698 4359 A763

Size: 12x20 cm| |

For PC

hdk Kumar P Vice Chairman

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

Independent Auditor's Review Report on the Unaudited Consolidated Financial Results of PCS Technology Limited for the third quarter and nine months year ended 31°' December2020 pursuant to the Regulation 33 of the Securities and Exchange Board of India (SEBD (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors PCS TECHNOLOGY LIMITED. Pune.

• 1. We have reviewed the accompanying statement of unaudited consolidated 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 and nine months ended as on 31"December, 2020("the Statement") attachedherewith, being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"),
• 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, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review,
• We conducted our review of the Statement in accordance with the Standard on Review Engagements (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 Statement is free of material misstatement. A review of interim financial infomation consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. tod

We also performed procedures in accordance with the Circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable,

• 1. The Statement includes the results of the following entities:
• a) PCS Positioning Systems (India) Limited
• b) PCS InfoTech Limited, India
• 1. We did not review the interim financial results of the 2subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs.1.24 lacs total net profit/(loss) after tax of Rs.0.82 lacs quarter ended as on 31° December 2020.The consolidated unaudited financial results also includes the Group's share of net profit/(loss) after tax Rs.67.12 lacsand total comprehensive income / loss of Rs. 66.87 lacsfor the quarter ended as on 31" December 2020 as considered in the consolidated unaudited financial results.

pe

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.

Our conclusion is not modified in respect of this matter and the reports of the other auditors and the financial results/financial information certified by the Management.

1. 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 auditors referred to in paragraph 5 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (' Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Vinod K Mehta & Co.

Chartered Accountant

iQ i ® lembership Number: 044293 Ae! ^y nee UDIN:21044293A AA ABW7823 ICAI Registration no. 111508W)

Place: Mumbai Date: 10/02/2021

4

VINOD K. MEHTA & CO. B-5, SATYAM SHOPPING CENTRE, Tel. s+ 91-22 2102 4280

2ND FLOOR, M. -G. ROAD, Tel/Fax: + 91-22 6725 5633 Chartered Accountants GHATKOPAR (E), MUMBAI - 400077 E-mail : dvsmehta@gmail.com

Independent Auditor's Review Report on the Unaudited Standalone Financial Results of PCS Technology Limited for the third quarter and nine months ended 31stDecember,2020 pursuant to the Regulation 33 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Review Report to The Board of Directors PCS TECHNOLOGY LIMITED, Mumbai

• 1. We have reviewed the accompanying statement of Unaudited Standalone Financial Results of PCS Technology Limited (the "Company") for the third quarter and nine months ended as on 31st December.2020(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").
• i) This statement which is the responsibility of Company's Management and approved by the Company's Board of Directors, 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 as amended. read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on these statements based on our review.
• 1. We conducted our review of the Statement 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 statements are free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures, A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 4, Based on our review conducted as above, 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 Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Vinod K Mehta & Co. Chartered Accountant

Place: Mumbai <0 ACGS Date: 10/02/2021