Redington Limited — Interim / Quarterly Report 2022

Aug 12, 2021

Plot. No.11 (SP), Thiru.Vi.Ka Industrial Estate, Tel : +91 44 4224 3353 Fax : +91 44 2225 3799 CIN : L52599TN1961PLC028758 August 12, 2021 www.redingtongroup.com

The National Stock Exchange of India Ltd., Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai — 400051.

Dear Sir/Madam,

Sub: Unaudited Financial Results for the quarter ended June 30, 2021

This is in continuation to our announcement dated August 2, 2021 on the above subject.

In terms of requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the unaudited standalone and consolidated financial results for the quarter ended June 30, 2021.

We wish to inform you that these were approved and taken on record at the meeting of the Board of Directors of the Company held today. The meeting commenced at 11.30 A.M. (IST) and concluded at 3.30 P.M. (IST). The financial results will be uploaded on the website of the company

We are also enclosing herewith the copy of the Limited Review Report given by the Statutory Auditors of the Company.

www.redingtongroup.com.

We are arranging to publish the extract of financial results in the newspapers.

Please acknowledge the receipt of our communication.

Thanking you, Yours truly,

M. Muthukumarasamy Company Secretary

Cc: BSE Limited Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai — 400 001

All Correspondence to Registered & Corporate office only eee ee

Redington (India) Limited Registered office: Redington House, Centre Point, Plot No. 11 (SP), Thiru. Vi. Ka. Industrial Estate, Guindy, Chennai - 600 032 Website: www.redingtongroup.com Email:investors@redington.co.in CIN:L52599TN1961PLC028758 Board No:+91-44-42243353 Fax No:+91-44-22253799

Redington (India) LimitedRegistered office: Redington House, Centre Point, Plot No. 11 (SP), Thiru. Vi. Ka. Industrial Estate, Guindy, Chennai - 600 032Website: www.redingtongroup.comEmail:investors@redington.co.inCIN:L52599TN1961PLC028758Board No:+91-44-42243353
Fax No:+91-44-22253799Statement of Unaudited Standalone Financial Results for the Quarter Ended June 30, 2021
		Quarter Ended		z. In CroresYear Ended
Particulars	June 30, 2021(Unaudited)	piBe(Refer note 4 (b))	(Unaudited)	June 30,2020 March 31, 2021(Audited)
Revenue from operationsOther income (net)	9,999.976.94	6,352.3514.94	3,432.9811.59	22,720.67
Total income	5,366.91			71.07
		6,367.29	3,444.57	22,791.74
ExpensesPurchases of traded goodsChanges in inventories of traded goods	5,166.47(34.47)	5,855.50243.05	3,138.97155.13	21,805.2057.70
Employee benefits expenseFinance costsDepreciation and amortisation expense	40.493.25	40.501.52	32.7729.14	152.1842.43
Other expenses	9.0551.84	6.8262.92	7.2844.09	27.83238.68
Total expensesProfit before tax	5,236.63130.28	6,210.31156.98	3,407.3837.19	22,324.02467.72
Tax expense:Current taxDeferred tax	33.39	38.79	9.89	113.80
Tax expenses in respect of earlier yearsProfit for the Quarter / Year (A)	1.30*	2.72-	0.15-	1.6088.99
Other comprehensive income	95.59	115.47	27.15	263.33
Items that will not be reclassified to profit or lossRemeasurement of defined benefit plan	(3.99),	0.94	0.26	2.38
Income tax relating to item aboveNet other comprehensive income that will not be reclassified to profit or lossItems that will be reclassified to profit or loss	1.00(2.99)	oe0.71	(0.06)0.20	(0.60)1.78
Foreign exchange differences in translating the financial statements of foreignoperations	0.23		(0.04)	(0.76)
Income tax relating to item aboveNet other comprehensive income that will be reclassified to profit or loss	(0.06)0.17	0.190.19	-(0.04)	0.19(0.57)
Total other comprehensive income (B)Total comprehensive income (A+B)	(2.82)	0.90	0.16	1.21
Paid-up equity share capital (Face Value - % 2/- per share)	92.7778.07	116.3777.84	27.3177.82	264.5477.84
Other equity as per balance sheet of previous accounting year	-	1,989.89	-	1,989.89
Earnings per Equity Share: (Face Value - = 2/- per share) (Not annualized forQuarters)Basic (in @)Diluted (in 2)	2.462.45	2.972.96	0.70	6.77

Statement of Unaudited Consolidated Financial Results for the Quarter Ended June 30, 2021

Statement of Unaudited Consolidated Financial Results for the Quarter Ended June	30, 2021	ae		%. In Crores
Particulars	June 30, 2021(Unaudited)	Quarter EndedTe(Refer note 4 (b})	(Unaudited)	Year EndedJune 30,2020 March 31, 2021(Audited)
Revenue from operationsOther income (net)	13,454.0519.95	15,503.9426.43	10,697.1424.78	56,945.86
Total incomeExpenses	13,474.00	15,530.37
Purchases of traded goodsChanges in inventories of traded goods			10,721.92	95.7357,041.59
	12,797.69(145.16)	14,460.36116.53	9,621.31501.38	53,110.66690.31
Employee benefits expenseFinance costs	209.4828.00	207.4830.50	180.7360.00	831.98156.44
Depreciation and amortisation expenseOther expenses	34.87247.76	36.21294 47	39.59188.39	148.20969.53
Total expensesProfit before exceptional item and tax	13,172.64301.36	15,145.55384.82	10,591.40130.52	55,907.121,134.47
Exceptional itemImpairment of goodwill and other intangibles	-	-	-	6.34
Profit before tax	301.36	384.82	130.52	1,128.13
Tax expense:Current tax	66.32	71.94	37.23	258.03
Deferred taxTax expenses in respect of earlier yearsProfit for the Quarter / Year (A)	(4.11)-239.15	9.46-303.42	(5.66)-98.95	88.99786.61
Other comprehensive income				(5.50)
Items that will not be reclassified to profit or lossRemeasurement of defined benefit plan	(3.54)	(0.38)	0.52	1.71
Income tax relating to item aboveNet other comprehensive income that will not be reclassified to profit or loss	0.89(2.65)	(0.12)(0.50)	(0.14)0.38	(0.65)1.06
Items that will be reclassified to profit or lossForeign exchange differences in translating the financial statements of foreignoperations	59.02	(21.78)	(13.09)	(165,23)
Income tax relating to item aboveNet other comprehensive income that will be reclassified to profit or loss	(0.06)§8.96	0.19(21.59)	-(13.09)	0.19(165.04)
Total other comprehensive income (B)	56.31	(22.09)	(12.71)	(163.98)
Total comprehensive income (A+B)	295.46	281.33	86.24	622.63
Profit for the Quarter / Year attributable to the :-Shareholders of the CompanyNon-Contralling Interests	236.672.48	302.510.91	88.7810.17	796.3930.22
Total Comprehensive Income for the Quarter / Year attributable to the :-Shareholders of the Company	290.12	289.95	79,37	624.14
Non-Controlling Interests	5.34	(8.62)	6.87	(1.51)
Paid-up equity share capital (Face Value - = 2/- per share)Other equity as per balance sheet of previous accounting year	78.07-	77.844,855.87	77.82-	77.844,855.87
jEarnings per Equity Share: (Face Value - = 2/- per share) (Not annualized forQuarters)

Consolidated Segment wise Revenue, Results, Assets and Liabilities for the Quarter Ended June 30, 2021

Consolidated Segment wise Revenue, Results, Assets and Liabilities for the Quarter Ended June 30, 2021
		Quarter Ended		%. In CroresYear Ended
Particulars	June 30, 2021	ha
			June 30, 2020	March 31, 2021
	(Unaudited)	(Refer note 4 (b))	(Unaudited)	(Audited)
Segment revenueIndia	5,427.13	6,408.36	3,446.08	22,827.36
OverseasTotalLess: Inter segment revenue	8,027.1513,454.280.23	9,095.9315,504.290.35	7,291.1610,697.240.10	34,119.7256,947.081.22
Revenue from operationsSegment results (Profit before finance costs, exceptional item and tax)	13,454.05	15,503.94	10,697.14	56,945.86
IndiaOverseasProfit before finance costs, exceptional item and tax	137.36192.00329.36	164.69250.63415.32	62.63127.89190.52	504.76786.151,290.91
Less: Finance costsIndia	4.72	4.09	33.30	54.73
OverseasTotal finance costs	23.2828.00	26.4130.50	26.7060.00	101.71156.44
Profit before exceptional item and taxIndia	132.64	160.60	29.33	450.03
OverseasProfit before exceptional item and tax	168.72301.36	224.22384.82	101.19130.52	684.441,134.47
Exceptional itemIndiaOverseas	--	-:	=:	-6.34
Total exceptional itemProfit before tax	-	-	-	6.34
IndiaOverseas	132.64168.72	160.60224.22	29.33101.19	450.03678.10
Total profit before tax	301.36	384.82	130.52z. In Crores	1,128.13
Particulars	(Unaudited)	As at June 30, 2021 As at March 31, 2021](Audited)	As at June 30, 2020(Unaudited)
Segment assets
IndiaOverseasUnallocated	4,857.009,612.84128.54	4,533.619,881.43142.03	5,562.169,999.44182.79
Tota!	14,598.38	14,557.07	15,744.39
Segment LiabilitiesIndiaOverseas	3,466.945,401.99	3,243.535,861.73	4,564.676,294.30

		z. In Crores
Particulars	(Unaudited)	As at June 30, 2021 As at March 31, 2021](Audited)	As at June 30, 2020(Unaudited)
Segment assets
India	4,857.00	4,533.61	5,562.16
Overseas	9,612.84	9,881.43	9,999.44
Unallocated	128.54	142.03	182.79
Tota!	14,598.38	14,557.07	15,744.39
Segment Liabilities
India	3,466.94	3,243.53	4,564.67
Overseas	5,401.99	5,861.73	6,294.30
Unallocated	127.09	145.13	106.92
Total	8,996.02	9,250.39	10,965.89

For Redington (India) Limited

LM

S V Krishnan Whole-time Director and Chief Financial Officer

ees GQ

Redington (India) Limited

Notes to the Statement of Unaudited Standalone / Consolidated Financial Results for the Quarter Ended June 30, 2021

• 1. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors of Redington (India) Limited ("the Company') at their respective meetings held on August 11, 2021, and August 12, 2021.
• The above financial results comprise the unaudited results of the Company and its subsidiaries (collectively referred to as 'the Group') and the Group's interest in its associates.
• A limited review of the unaudited standalone and consolidated financial results of the Company has been carried out by the statutory auditors. A similar review of the financial results of the Subsidiaries / Associate has been conducted by the respective statutory auditors, as applicable.
• a. The above financial results have 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 and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations").

b. The figures for the quarter ended March 31, 2021, as reported in these financial results are the balancing figures between the audited figures in respect of the full previous financial year ended March 31, 2021, and the published unaudited year to date figures up to the end of the third quarter ended December 31, 2020.

• The Group is engaged primarily in the business of Distribution of Information Technology & Mobility products besides supply chain solutions and after sales service. As per Ind AS 108 "Operating Segments", the disclosure of reportable segments, "India" and "Overseas" have been made in a manner consistent with internal reporting made to the Managing Director who is the Chief Operating Decision Maker for the Group.
• Impact of COVID-19

The Group/Company has considered the possible effects of known events arising from COVID-19 pandemic in the preparation of the financial results including but not limited to its assessment of Group/Company's liquidity and going concern, recoverable values of its financial and nonfinancial assets. The Group/Company will continue to monitor any material changes to future economic conditions and consequential impact on its financial results.

• During the quarter,
  • a. The Board of Directors of the Company at its meeting held on April 1, 2021, approved the elevation of Mr. Raj Shankar to the position of "Vice Chairman and Managing Director" with immediate effect. Also, the Board appointed Mr. Rajiv Srivastava as an Additional Director on the Board and as Joint Managing Director of the Company effective April 2, 2021. Appointment of Mr. Rajiv Srivastava has been subsequently ratified in the Annual General Meeting held on August 11, 2021.
  • b. The SAR Share Allotment Committee of Directors of the Company has considered and approved allotment of 50,095 equity shares and 10,72,400 equity shares of % 2/- each on May 8, 2021, and June 21, 2021, respectively, pursuant to exercise of Stock Appreciation Rights granted under Redington Stock Appreciation Rights Scheme, 2017. be

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c. The Board of Directors of Arena Bilgisayar Sinayi Ve Ticaret A.S. (Arena), step-down subsidiary of Redington International Mauritius Limited has authorised its Chief Executive Officer, Mr. Serkan Celik, to approach Brightstar Telekomiinikasyon Dagitim Ltd. Sti. (Brightstar Turkey) and commence preliminary discussions regarding the potential acquisition of upto 100% of Brightstar Turkey from Brightstar Corp. and its affiliates.

Currently, Brightstar Turkey's operations primarily consist of value-added distribution of leading brands of smartphones, devices, consumer electronics and accessories to telecom operator(s). Arena believes that the potential acquisition of Brightstar Turkey could deliver significant strategic value to Arena.

• d. The Board of Directors at its meeting held on May 27, 2021, had recommended a dividend of % 11.60/- per equity share of ~ 2/- each (i.e., 580% of face value) for the financial year ended March 31, 2021. The same was approved by the shareholders in the Annual General Meeting held on August 11, 2021.
• e. Redington Gulf FZE ('RGF'), a wholly owned subsidiary of Redington International Mauritius Limited ('RIML'), has acquired the balance 51% shareholding stake without any purchase consideration in its step-down subsidiaries namely Redington Saudi Arabia Distribution Company, Redington Middle East LLC, Proconnect Supply Chain Logistics LLC, and Cadensworth United Arab Emirates LLC ("Subsidiaries").

Earlier, these 51% shares were held by Individuals due to regulatory requirements and RGF was 100% beneficial owner. The recent amendment to the local regulations in the jurisdictions where the subsidiaries operate allow 100% ownership to be held by a single shareholder. Pursuant to the same and after obtaining necessary approvals, RGF, has entered into Share Transfer Agreements for transfer of 51% shareholding stake in its own name in the Subsidiaries. Pursuant to this transfer, RGF is a sole shareholder holding 100% shareholding in all these entities.

• 1. Subsequent to this quarter,
  • a. Mr. Udai Dhawan (DIN: 03048040), Non-executive Nominee Director of the Company, has resigned with effect from close of business hours on July 5, 2021, due to other professional commitments.
  • b. Ensure IT Services (Pty) Ltd., South Africa, a wholly owned subsidiary of Redington Gulf FZE (RGF), has changed its name after the approval of the appropriate authorities to "Redington South Africa (Pty) Ltd" with effect from July 28, 2021.
  • c. The shareholders of the Company approved the following recommendations of the Board of Directors, in the Annual General Meeting (AGM) held on August 11, 2021:
    • i) Increase the Authorized Share Capital of the Company from % 85 crores (divided into 42.50 crores equity shares of = 2/- each) to = 170 crores (divided into 85 crores equity shares of % 2/- each).
    • ii) Amendment to Memorandum of Association of the Company in relation to the above Increase in Authorized Share Capital.
    • iii) Issue of bonus equity shares of t= 2/- each credited as fully paid-up equity shares to the holders of the existing equity shares of the Company in the proportion of 1 equity share for every 1 existing equity share held by Members with a record date of August 20, 2021.

• iv) Authorized the Board/ Compensation Committee to make appropriate adjustments for issue of bonus equity shares as aforesaid, to the stock appreciation rights which have been granted (whether vested or not) to employees under Redington Stock Appreciation Right Scheme 2017, such that the number of stock appreciation rights which are available for granting and those already granted but not exercised as on the record date shall be appropriately adjusted.

• d. The SAR Share Allotment Committee of Directors of the Company has considered and approved allotment of 2,36,713 equity shares of ¢ 2/- each on July 13, 2021, pursuant to exercise of Stock Appreciation Rights granted under Redington Stock Appreciation Rights Scheme, 2017.

• e. The Board of Directors of RGF, a wholly owned subsidiary of Redington International Mauritius Limited (RIML), at its meeting held on August 3, 2021, resolved to liquidate its wholly owned subsidiary Redington Cote d'lviore incorporated in Abidjan, Cote d'lvoire. The operations of this entity will be transferred to RGF. Consequently, this is not likely to have any material impact on the consolidated results.

• 1. The Standalone and Consolidated financial results of the Company for the Quarter ended June 30, 2021, have been filed with the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) and are available in Company's website www.redingtongroup.com.

For Redington (India) Limited

ag is LG- es

Date : August 12, 2021 Chief Financial Officer

S V Krishnan Place :; Chennai Whole-time Director and

Chartered Accountants

No.1, Harrington Road, Chetpet, Fax: + 91 44 4608 3199 Chennai — 600031, India

KRM Tower, 1* & 2"¢ Floors, Telephone: + 91 44 4608 3100

Limited Review Report To Board of Directors of Redington (India) Limited

• |. We have reviewed the accompanying Statement of unaudited standalone financial results of Redington (India) Limited ("the Company") for the quarter ended June 30, 2021 ("the Statement").
• 1. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared inaccordance withthe recognition and measurement principles laid down in Indian Accounting Standard 34 "/nterim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue areport on the Statement based on our review.
• 1. 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 is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Attention is drawn to the fact that the figures for the 3 months ended March 31, 2021as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
• 5, Based on our review conducted and based on the consideration of the review report of the branch auditors referred to in paragraph 6 below, nothing hascome to our attentionthat causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and _ other recognised accounting practices and policies has not disclosed the information required to be disclosed interms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015including the manner in which it isto be disclosed, or that it contains any material misstatement.

©-~stered Office:

Mumbai - 400063 BSR &Co. (a pantnershp fim with Regstation No. BAG1223) converted nto BS R& Co. LP (a Limited Liability Parntnershp with LLP Regstratian No. AAB 8181) wih effect from October 14, 2013

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (Eas),

Limited Review Report Page 2 of 2

1. We did not review the financial information of a foreign branch included in the statement of unaudited standalone financial results, whose unaudited financial information reflect total revenues of INR 20.52 crores, total net profit after tax of INR 0.52 crores and total comprehensive income of INR 0.52 crores for the quarter ended June 30, 2021, as considered in the statement of unaudited standalone financial results. The financial information of this branch has been prepared in accordance with the accounting principles generally accepted in its country of domicile and has been reviewed by the branch auditors under the generally accepted auditing standards applicable in that country and whose report has been furnished to us. The Company's management has converted the financial information of such branch from accounting principles generally accepted in its country of domicile to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Company's management. Our conclusion in so far as it relates to the amounts and disclosures included in respect of this branch, is based solely on the report of such branch auditors.

Our conclusion is not modified in respect of this matter.

forBSR& Co. LLP Chartered Accountants Firm's Registration No.: 101248W/W-100022

la fi.

S Sethuraman Partner Membership No. 203491 UDIN: 21203491 AAAAEO1 748

Place: Chennai Date: August 12, 2021

Chartered Accountants

Chennai — 600031, India

KRM Tower, 1° & 2" Floors, Telephone: +91 44 4608 3100 No.1, Harrington Road, Chetpet, Fax: + 9144 4608 3199

Limited Review Report To Board of Directors of Redington (India) Limited

• We have reviewed the accompanying Statement of unaudited consolidated financial results of Redington (India) Limited ("the Parent/ the Company") and its subsidiaries listed in Annexure | (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net loss after tax and total comprehensive income of its associates for the quarter ended June 30, 2021 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
• 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 and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• [oS) 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. 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.

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.

• The Statement includes the results of the subsidiaries and associates listed in Annexure I.
• Attention is drawn to the fact that the figures for the 3 months ended March 31, 2021 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
• Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the branch auditors and other auditors 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 accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Registered Ollice

Limited Review Report Page 2 of 2

1. We did not review the financial information of a foreign branch included in the unaudited standalone financial results of the Parent included in the Group, whose results reflect total revenues of INR 20.52 crores, total net profit after tax of INR 0.52 crores and total comprehensive income of INR 0.52 crores for the quarter ended June 30, 202 1, as considered in the unaudited standalone financial results of the Parent included in the Group. The financial information of the branch has been reviewed by the branch auditors whose report has been furnished to us, and our conclusion in so far as it relates to the amounts and disclosures included in respect of this branch, is based solely on the report of such branch auditors and the procedures performed by us as stated in paragraph 3 above.

We did not review the financial information of two overseas subsidiaries (which included the financial information of their respective step-down subsidiaries) and an Indian subsidiary included in the Statement, whose financial information reflect total revenues of INR 8,074.83 crores, total net profit after tax of INR 141.33 crores and total comprehensive income of INR 135.03 crores, for the quarter ended June 30, 2021, as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also includes the Group's share of net loss after tax of INR Nil crores and total comprehensive income of INR Nil crores for the quarter ended June 30, 2021 as considered in the Statement, in respect of the associates, whose financial information have not been reviewed by us. These financial information have been reviewed by other auditors whose reports have been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates, is based solely on the reports of the other auditors and the procedures performed by usas stated in paragraph 3 above.

The branch and two subsidiaries (which included the financial information of their respective stepdown subsidiaries) are located outside India whose financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by the branch auditors and other auditors under the generally accepted auditing standards applicable in their respective countries. The Company's management has converted the financial information of the branch and such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India We have reviewed these conversion adjustments made by the Company's management.

Our conclusion on the Statement is not modified in respect of the above matters.

for BSR & Co. LLP Chartered Accountants Firm's Registration No. 101248W/W- 100022

¢ 7

S Sethuraman Partner Membership No. 203491 UDIN: 21203491 AAAAEP7727

Place: Chennai Date: August 12, 2021

Annexure I to the Limited Review Report Page | of 2

The unaudited consolidated financial results include results of the following entities:

A. Direct Subsidiaries

• Redington International Mauritius Limited, Mauritius
• 1. Redington Distribution Pte Ltd, Singapore
• 3 ProConnect Supply Chain Solutions Limited, India

B. Step-down subsidiaries

• Redserv Business Solutions Private Limited, India
• Rajprotim Supply Chain Solutions Limited, India
• Redington SL Private Limited, Sri Lanka
• Redington Bangladesh Limited, Bangladesh
• Redington Gulf FZE, Dubai, UAE
• Redington Turkey Holdings S.A.R.L., Grand Duchy of Luxembourg
• Arena International FZE, Dubai, UAE
• Proconnect Supply Chain Logistics LLC, Dubai, UAE
• $0 SOS CV Arena Bilgisayar Sanayi ve Ticaret A.S., Turkey
• . Redington Kenya Limited, Kenya
• . Redington Gulf & Co. LLC, Oman
• . Cadensworth FZE, Dubai, UAE
• . Redington Egypt Ltd. (Limited Liability Company), Egypt
• . Ensure IT Services (Pty) Ltd., South Africa
• Ensure Services Arabia LLC, Kingdom of Saudi Arabia
• Redington Middle East LLC, Dubai, UAE
• Ensure Services Bahrain S.P.C, Kingdom of Bahrain
• . Redington Limited, Ghana
• _ Africa Joint Technical Services, Libya
• . Redington Uganda Limited, Uganda
• . Redington Kenya (EPZ) Limited, Kenya
• . Redington Rwanda Ltd., Rwanda
• . Cadensworth United Arab Emirates (LLC), Dubai, UAE
• . Redington Gulf FZE Co, Iraq
• . Redington Qatar WLL, Qatar
• . Redington Qatar Distribution WLL, Qatar
• . Redington Kazakhstan LLP, Kazakhstan
• . Redington Tanzania Limited, Tanzania
• . Redington Morocco Ltd., Morocco
• . Redington Angola Ltd., Angola
• Redington Senegal Limited S.A.R.L, Senegal
• Redington Saudi Arabia Distribution Company, Saudi Arabia

Annexure I to the Limited Review Report Page 2 of 2

• Ensure Technical Services (PTY) Ltd., South Africa
• PayNet Odeme Hizmetleri A.S., Turkey
• . CDW International Trading FZCO, Dubai, UAE
• RNDC Alliance West Africa Limited, Nigeria .
• Redington Turkey Teknoloji A.S., Turkey (Formerly known as Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S., Turkey) 55. Ensure Services Limited, Egypt Lo Lo La Ld Ld NAW YW bo oo
• . Proconnect Saudi LLC, Saudi Arabia
• 1. Redington Distribution Company, Egypt
• 1. Ensure Middle East Technology Solutions LLC, UAE
• 1. Citrus Consulting Services FZ LLC, Dubai, UAE
• 1. Arena Mobile Iletisim Hizmetteri ve Turketici Elektronigi Sanayi ve Ticaret A.S., Turkey
• 1. Online Elektronik Ticaret Hizmetleri A.S., Turkey
• 1. Paynet (Kibris) Odeme Hizmetleri Limited, Cyprus
• 1. Redington Cote d'Ivoire SARL, Cote d' Ivoire
• 1. Redington Saudi for Trading, Saudi Arabia
• 1. Ensure Gulf FZE, UAE
• 1. Ensure Solutions Nigeria Limited, Nigeria
• 1. Ensure Technical Services Kenya Limited, Kenya
• 1. Ensure Services Uganda Limited, Uganda
• 1. Ensure Technical Services Tanzania Limited, Tanzania
• 1. Ensure Ghana Limited, Ghana
• 1. Ensure Technical Services Morocco Limited (Sarl), Morocco
• 1. Ensure Middle East Trading LLC, UAE

C. Associate and its subsidiary

ial

• 1. Redington (India) Investments Limited, India (Associate)
• 1. Currents Technology Retail (India) Limited, India (Subsidiary of Associate)