Salzer Electronics Ltd. — Annual Report 2020

Jun 18, 2020

SALZER ELECTRONICS LTD. Soler

CIN : L03210T21985PLC001535

June 18, 2020

To

THE CORPORATE RELATIONSHIP DEPT M/s. National Stock Exchange of India Ltd., BSE Limited Exchange Plaza, C-1, Block G, I Floor, New Trading Ring, BandraKurla Complex, Rotunda Building, Bandra (E),Mumbai - 400 051 P.J.Towers, Dalal Street, Tel :+91 22 26598235/36, 26598346 Fort, Mumbai - 400 001. Fax : +91 22 26598237/38

SCRIP CODE: 517059 Symbol: SALZERELEC

Dear Sir,

Sub: Submission of Outcome of the Board Meeting - Audited Financial Result - reg Ref: Our letter dated June 15, ²⁰²⁰

We are hereby submitting the following outcome of the Meeting of Board of Directors of the Company held today - June 18, 2020 in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015:

is Approval of the Financial results

The Board of Directors of the Company, at their meeting held today- June 18, 2020, approved the audited financial results for the financial year ended 31st March, 2020.

Accordingly, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") we enclose the following:

• i) Standalone and Consolidated Statement showing the Audited Financial Results for the quarter and year ended March 31,2020;
• ii) Standalone and Consolidated Auditor's Report from the Statutory Auditors, M/s. JDS Associates, Chartered Accountants on the above financial results;

Further, as required under SEBI Circular No.CIR/CFD/CMD/56/2016 dated May 27, 2016, we declare that the statutory auditors of the Company, M/s. JDS Associates, Chartered Accountants, have in their report issued an Unmodified Opinion on the Financial Results of the Company for the year ended March 31, 2020.

Pursuant to Regulation 47 of the SEBI (LODR), the details of the Fianncial Results of the Company would also be available on the website of the Company www.salzergroup.net as well as on the websites of the Stock Exchanges.

The Meeting commenced at 11.30 a.m and closed at [ * xp P.M,

May kindly be acknowledged the receipt and take on your record.

Thanking you Yours faithfully

For Salzer Electronics Limited

ees

S Baskarasubramanian Director (Corporate Affairs) & Company Secretary (DIN: 00003152 & FCS:4605)

Encl : as above

Statement of Standalone Audited Financial Results for the Fourth Quarter and year ended March 31, 2020

SALZER	ELECTRONICS	LTD.			Soalzear
GIN : LO3210TZ1985PLC001535
Statement of Standalone Audited Financial Results for the Fourth Quarter and year ended March 31, 2020
			Quarter ended		Rs. In Lacs except for per share data Year ended
Particulars		31-03-2020	31-12-2019	31-03-2019	31-03-2020	31-03-2019
Income		Refer Note No.vii	Un-Audited	Audited	Audited	Audited
{Revenue From Operations		13,229.80	13,471.38	15,503.85	56694.56	55,976.62
Other Income Total Income		-14.41	10.20	27.18	88.75	70.70
JEXPENSES		13,215.39	13,481.58	15,531.03	56,783.31	56,047.32
Cost of materials consumed a.		9,530.28	9,640.11	10,884.56	43019.54	41,933.48
Changes in inventories of finished goods,work- b. in-progress and stock-in-trade		-9,72	-5.87	874.23	-1038.47	-52.18
Employee benefit expenses c.		665.59	721.13	469.85	2639.87	2,489.37
Finance Cost d. Depreciation and amortisation expense e.		543.80 367.70	500.15 368.94	555.11 241.27	2116.68 1443.96	1,988.47
f._ Other expenses		1,613.99]	1,445.16]	1,588.44	5554.68	1,215.96 5,241.38
TOTAL EXPENSES		12,711.64	12,669.62	14,613.46	53,736.26	52,816.48
PROFIT BEFORE EXCEPTIONAL ITEMS AND Exceptional items IV		503.75	811.96	917.57	3,047.05	3,230.84
PROFIT BEFORE TAX		503.75	811.96	917.57	3,047.05	3,230.84
Current Tax		26.00	137.32	166.25	534.06	743.09
Deferred Tax PROFIT AFTER TAX		-436.05 913.80	123.98 550.66	-87.55 838.87	-125.67	92.01
OTHER COMPREHENSIVE INCOME VII					2,638.66	2,395.74
{Items that will not be reclassified to profit or VIII loss		-58.66	8.19	18.72	-91,83	-18,39
TOTAL COMPREHENSIVE INCOME FOR THE		855.14	558.85	857.59	2,546.83	2,377.34
PERIOD Paid up share capital - equity shares of Rs.10/-		1,598.27	1,568.27	1,598.27	1,598.27	1,598.27
each			-	-		27,119.56
Reserves and Surplus (Other Equity) [EARNINGS PER SHARE		5.72	3.44	5.28	16.51	15.21
- Basic after exceptional items (in Rs.)						15.10
- Diluted after	exceptional items (in Rs.)	5.72	3.44	5.27	16.51
: June 18, 2020 Date						r Salzer Electronics Limited
XIl_ b. Place : Coimbatore
					aa	R DORAISWAMY
						MANAGING DIRECTOR (DIN: 00003131)

r Salzer Electronics Limited

aa R DORAISWAMY

Samichettipalayam, Coimbatore - 641 047, India. Phone : + + 91 422 4233600 Fax : + +91 422 2692170 E-mail : salzer@salzergroup.com Website : www.salzergroup.com

Notes forming part of above STANDALONE results

• i) The above Audited financial results were duly reviewed by the Audit Committee at its meeting held on June 18, 2020, and were taken on record and approved by the Board of Directors at their meeting held on June 18, 2020
• ii) The Company operates in only one segment viz., Electrical installation products.
• iii) The Company has adopted New Tax Regime as notified by the Government of India under Section 115 BAA of the Income Tax Act, 1961 which translated into the Tax Savings to the extent of Rs.126.04 Lacs for the Financial year 2019-20
• iv) The outbreak of COVID-19 pandemic and the resulting lockdown enforced from 24" March 2020 have affected the Company's regular operations. Accordingly, the Company has considered the possible effects that may result from the pandemic on the carrying amounts of property, plant and equipment, investments, inventories, receivables and other current assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of this pandemic, the Company, as at the date of approval of these financial results has used internal and external information which are relevant in determining the expected future performance of the Company. The Company has evaluated its liquidity position, recoverability of such assets, and based on current estimates expects the carrying amount of these assets will be recovered. The impact of COVID-19 on the Company's financial results may differ from that estimated as at the date of approval of these financial results. Moreover, the Company has a practice of providing requisite provisions in the Financial Statements in line with the Accounting Standards for the expected credit loss on the carrying cost of both fixed and current assets taking care of all possible loss arising out of any uncertainties
• v) The Management believes that it has taken into account all the possible impact of events arising from COVID 19 pandemic in the preparation of the standalone financial results including the ability of the Company to continue as going concern. However, the impact assessment of COVID 19 is a continuing process given the uncertainties associated with its nature and duration. The Company will continue to monitor any material changes to future economic conditions
• vi) The Company has written off Bad and irrecoverable amount of Rs.83.96 Lacs Lakhs from the Book Debts as at March 31,2020 and charged to Profit & Loss Account instead of routing through accumulated provisions for expected credit loss as the Company wants to retain the provisions to cover up the future loss that may be arising out of Covid -19 Pandemic
• vii) Basic Earnings per share and Diluted Earnings per Share have been prepared in accordance with IND AS 33 and presented on the expanded capital prevailing on the relevant date,
• viii) The Figures for the quarter ended March 31, 2020 are the balancing figures between the audited figures in respect of the full financial years and the published year to date figures upto the third quarter of the Financial year;
• ix) Comparative figures have been regrouped / reclassified wherever necessary to confirm to current period's presentation,

For SALZER(RLECTRONICS LIMITED

Coimbatore - 641 047. VEX. UAA R DORAISWAMY june 18, 2020 LIDS A MANAGING DIRECTOR (DIN:00003131)

Samichettipalayam, Coimbatore - 641 047, India. Phone : + + 91 422 4233600 Fax :+ + 91 422 2692170 E-mail : salzer@salzergroup.com Website : www.salzergroup.com ISO 9001 Ci Tad

SALZER ELECTRONICS LTD. Sze

STANDALONE AUDITED STATEMENT OF THE ASSETS AND LIABLITIES AS AT 31.03.2020

	Sze
LO3210T21985PLC001535 STANDALONE AUDITED STATEMENT OF THE ASSETS AND LIABLITIES AS AT 31.03.2020
Particulars	31-03-2020
ASSETS	Rs. In Lacs	31-03-2019 Rs. In Lacs
1 Non-current Assets
(a) Property, Plant and Equipment	20,237.44	17,835.35
(b) Capital Work in progress (c) Investment Property	272.02	606.07
(d) Intangible Assets	0.77
(e) Financial Assets	427.76	461.81
i, Investments
ii. Trade Receivables	1747.22	67,25
iii. Others	713.51 1,778.23	1,122.05
(f) Other Non-Current Assets	257.19	942.68
Total Non-Current Assets	25,434.14	551.29
2 Current Assets		21,587.27
(a) Inventories	15,715.47
(b) Financial Assets		14,266.53
i. Investments	225,43	299.68
ii. Trade Receivables	14,276.26	14,625.11
iii. Cash and Cash equivalents iv. Other Bank balances	221.82	712.92
y. Loans	664.81	698.95
vi. Others	2,408.25	2,536.45
(c) Other Current Assets	50.49	46.99
Total Current Assets	1,679.03 35,241.56	1,782.48
TOTAL ASSETS	60,675.70	34,969.11 56,556.38
EQUITY AND LIABILITIES
EQUITY (a) Equity Share Capital
(b) Instruments entirely equity in Nautre - Non Cumulative 5% Covertible	1,598.27	1,598.27
Preference shares	0.00
(b) Other Equity	29,339.71	27,101.18
Total Equity	30,937.98	28,699.45
LIABILITIES
1 Non-current Liabilities
Financial Liabilities (a) i. Borrowings
(b) Provisions	1777.61	421.08
(c) Deferred tax liabilites (net)	59.05	62.92
Total Non-current Liabilites	1,848.62 3,685.28	1,974.29
2 Current Liabilities		2,458.29
(a) Financial Liabilities
i. Borrowings	15,590.76
ii. Trade Payables	5,040.29	13,560.00 5,382.89
iii. Others	500.79	817.85
(b) Other Current Liabilites (c})	4,819.77	5,400.82
Provisions (d) Current Tax Liabilities (Net)	100.83	71.84
Total Current Liabilites	0.00 26,052.44	165.24
		25,398.64
TOTAL EQUITY AND LIABILITIES	60,675.70	56,556.38

ak

Samichettipalayam, Coimbatore - 641 047, India. : Phone : + + 91 422 4233600 Fax : + +91 422 2692170 Ae E-mail ; salzer@salzergroup.com Website : www.salzergroup.com

SALZER ELECTRONICS LTD. CIN : LO3210TZ1985PLC001535 Salzer

ELECTRONICS SALZER
		Salzer
LTD. CIN : LO3210TZ1985PLC001535
STANDALONE CASH FLOW STATEMENTS FOR THE YEAR ENDED 3ist MARCH, 2020
	For the year ended on For the year ended on
Particulars	31-Mar-20	31-Mar-19
	(in Lacs)	(in Lacs)
CASH FLOW FROM OPERATING ACTIVITIES
NET PROFIT AFTER TAX Add / (Less) :	2,546.83	2,377.35
Tax Expenses	377.50
Depreciation and Amortisation	1,443.96	835.10 1,215.96
Interest income	(50.93)	(43.42)
Finance costs (Gain) /Loss on Foreign Exchange Fluctuations (Net)	2,116.68	1,988.47
Dividend Income	(11.93) (18.29)	73.59 (12.60)
Loss on Sale of Investments (Profit) /Loss on Sale of Assets (Net)	15.00 '	(0.32)
Fair Valuation of Investments	93.80	(0.45)
Other Non-Operating Income	(22.59)	(13.91)
Other Comprehensive Income OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES	28.92
Adjustments for working capital changes	6,518.95	6,419.77
Inventories Trade and Other Receivables	(1,448.94)	(412.43)
Trade and Other Payables	511.79 (1,392.65)	(1,200.78) 957.81
Other Liabilities	(49.79)
CASH GENERATED FROM OPERATIONS	4,139.36	5,764.37
Direct Tax paid NET CASH FLOW FROM OERATING ACTIVITIES	(583.96)	(598.03)
	3,555.40	5,166.34
. CASH FLOW FROM INVESTING ACTIVITIES : Purchase of Fixed Assets	(3,856.00)	(2,880.38)
Reduction in Capital Work in Progress	334.07	37.23
Non-Operating Income Profit/(Loss) on Sale of Investments	22.59 (15,00)	13.91
Investment in Mutual Funds and Equities (Net)	(18.92)	0.32 (57.63)
Proceeds from sale of Fixed Assets Profit /(Loss) on Sale of Assets	45.76	1.08
Investment in Subisdiary	- (1,662.16)	0.45
Other Non Current Investments Dividend Income	56.44
Interest income	18.29 50.93	12.60 43.42
NET CASH OUTFLOW IN INVESTING ACTIVITIES	(5,024.00)
		(2,829.00)

8 paar

Samichettipalayam, Coimbatore - 641 047, India. Phone : + + 91 422 4233600 Fax: + +91 422 2692170 E-mail : salzer@salzergroup.com Website : www.salzergroup.com

SALZER ELECTRONICS LTD. Sloer C. |CASH FLOW FROM FINANCING ACTIVITIES :

ees

Samichettipalayam, Coimbatore - 641 047, India. Phone : + + 91 422 4233600 Fax :+ +91 422 2692170 E-mail; salzer@salzergroup.com Website : www.salzergroup.com ISO 9001

INDEPENDENT AUDITOR'S REPORT

TO THE BOARDOF DIRECTORS OF SALZER ELECTRONICS LIMITED

Report on the audit of Standalone Financial Results

Opinion

We have audited the accompanying standalone quarterly financial results of Salzer Electronics Limited ("the Company") for the quarter ended March 31, 2020 and the year to date results for the period from April 01, 2019 to March 31, 2020, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 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, these Standalone Financial Results

• i. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the Indian accounting standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the quarter ended March 31, 2020 as well as the year to date results for the period from April 01, 2019 to March 31, 2020

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in ance with the Code of Ethics issued by the Institute of Chartered Accountants of India B. JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR

E : casaminathan@yahoo.co.in| € : bjayaramca@yahoo.co.in | E : kplathat995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

: , .Com., F.C.A., D.LS.A., M.Com., F.C.A., D.1.S.A., M.Com., F.C.A., M.Com., F.C.A., Membership No. 027133 embership No. 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722 254, Gandhiji Road {st Floor, Jewel Complex 8/36, LRG Lay-out, 5th Street | 7-A, Sri Nagar, Behind Sungam 254, Gandhiji Road

ERODE - 638 004 642 (Old # 324) Raja Street ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001, COIMBATORE - 641 001. TIRUPUR - 644 604 COIMBATORE - 641 045 Tel 0424-2969509 Tel :0424-2269599 | ej 9422 - 2304731, 2390882 | 'Tel: 0421 - 4322843 Tel : 0422 - 2312899 ? Cell : 98427 27344 Cell - 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 28681

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.

Emphasis of Matter

We draw attention to Note (iv) to the Standalone Financial Results in which the Company describes the uncertainties arising from the COVID 19 pandemic. Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Standalone Financial Results

These quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the interim financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Act read with relevant rules issued there under and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and 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, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

B. JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR B.Sc., F.C.A. 'Com., F.C.A., D.LS.A., M.Com., F.C.A., D.1.S.A., MCom., F.C.A., M Com. F.C.A., Membership No. 027133 |& Membership No. 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722 ³"A. Sri . Gandhiji Road 1st Floor, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-A, Sri Nagar, Behind Sungam 254, Gan rae, fecha a (oid # 324) Raja Sit ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 004.

pe COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Ti: Gaaicianontn Tel :0424-2269599 | re) - 949. 2304731, 2390882 | 'Tel: 0421 - 4322843 Tel 0422 - 2312899 naan Cell : 98427 27344 " Cell : 99444 57928 Cell : 98942 88807 Cell: 98430 80753 all:

E : kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in E : casaminathan@yahoo.co.in| E : blayaramca@yahoo.co.in

Auditor's Responsibilities for the Audit of Standalone Financial Results

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

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

• ^eIdentify 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 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
• ^eEvaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• ^eConclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may Cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to e date of our auditor's report. However, future events or conditions may cause the mpany to cease to continue as a going concern,

iji : | Complex 8/36, LRG Lay-oul, : Sth Street | 7.4, y Sri Nagar, Behind Sungam 2 54, Gandhiji Road Cell : 98427 27344 Cell : 99444 57928 Cell : 98942 88807 Cell: 98430 80753 a :

B.Sc., F.C.A. B.Com, F.C.A., DLS.A,, M.Com., F.C.A., D.I.S.A., M.Com., F.C.A., M.Com., F.C.A., Membership No. 027133 |4 Membership No. 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722 ee stout sare eves! ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001. a COIMBATORE - : 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel - 0424-2 0424-2269599 Tel :0424-2269599 | Taj 0422 - 2304731, 2390882 | 'Tel : 0421 - 4322843 Tel : 0422 - 2312899 auliet aan

| *B. JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR

E : casaminathan@yahoo.co.in} E : bjayaramca@yahoo.co.in ; E : kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

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

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

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

Other Matters

The Statement, the figures for the corresponding quarter ended March 31, 2019 are the balancing figures between the annual audited figures for the year then ended and the year to date figures for the 9 months period ended December 31, 2018. We have not issued ^a separate limited review report on the results and figures for the quarter ended March 31, 2019. Our report on the Statement is not modified in respect of this matter.

The Statement includes the results for the Quarter ended March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review. Our report on the Statement is not modified in respect of this matter.

T. SAMINATHAN B.Sc., F.C.A., Membership No. 027133

E : casaminathan@yahoo.co.in| E : bjayaramca@yahoo.co.in 254, Gandhiji Road ERODE - 638 004.

Sp, JAYARAM B.Com., F.C.A., D.LS.A., Membership No. 028346

ist Floor, Jewel Complex 642 (Old # 324) Raja Street COIMBATORE - 641 001. : 0424- Tel :0424-2269599 | Te) - 9422 - 2304731, 2390882 Cell : 98427 27344 Cell : 99444 57928

K.P. LATHA M.Com., F.C.A., D.1.S.A., Membership No. 208150 8/36, LRG Lay-out, Sth Street ABT Road, Karuvampalayam TIRUPUR - 641 604 Tel : 0421 - 4322843 Cell : 98942 88807 E : kplatha1995@gmail.com

J. FRANKLIN DAVID M.Com,, F.C.A. Membership No. 208792 T-A, Sri Nagar, Behind Sungam

Ramanathapuram COIMBATORE - 641 045 Tel : 0422 - 2312899 Cell : 98430 80753 E: jfrankca@gmail.com

K.S. SATHISHKUMAR M.Com., F.C.A., Membership No. 234722 254, Gandhiji Road ERODE - 638 001. Tel : 0424-2269599 Cell : 98844 28681 E : kssathishkumar@yahoo.co.in

The standalone annual financial results dealt with by this report has been prepared for the express purpose of filing with National Stock Exchange of India Limited and BSE Limited. These results are based on and should be read with the audited standalone financial statements of the Company for the year ended March 31, ,2020 on which we issued an unmodified audit opinion vide our report dated June 11, 2020.

For JDS ASSOCIATES Chartered Accountants FRN :008735S

(B.JAYARAM) Partner Memb.No : 028346

_ ———— oo

Date : June 18,2020 Place : Coimbatore UDIN: 2002834 ARAAE & 54E4

B. JAYARAM. B.Com.,F.C.A Chartered Accountant, ig, Floor. Jewel Complex, 334, Raja St eet, Coimbatore-64} ool

Cell : 98427 27344 Cell : 99444 57928 ^E: casaminathan@yahoo.co.in| E: bjayaramca@yahoo.co.in T. SAMINATHAN B.Sc., F.C.A., Membership No. 027133 254, Gandhiji Road ERODE - 638 001.

B. JAYARAM B.Com., F.C.A., DISA, Membership No. 028346

{st Floor, Jewel Complex ⁶⁴²(Old # 324) Raja Street COIMBATORE - 641 001. Tel : 0424-2269599 | yo) . 042 - 2904731, 2390882 K.P. LATHA M.Com., F.C.A., D.LS.A.,

Membership No. 208150 8/36, LRG Lay-oul, 5th Street ABT Road, Karuvampalayam TIRUPUR - 641 604 Tel : 0421 - 4322843 Cell : 98942 88807 E : kplatha1995@gmail.com

J. FRANKLIN DAVID N.Com., F.C.A.,

Membership No. 208792 7-A, Sri Nagar, Behind Sungam Ramanathapuram COIMBATORE - 641 045 Tel : 0422 - 2312899 Cell : 98430 80753

E: jfrankca@gmail.com

K.S. SATHISHKUMAR M.Com., F.C.A,, Membership No. 234722 254, Gandhiji Road ERODE - 638 001. Tel : 0424-2269599 Cell : 98844 28681 E : kssathishkumar@yahoo.co.in

SALZER ELECTRONICS LTD.

Statement of Consolidated Audited Financial Results for the Fourth

	ELECTRONICS SALZER LTD.			Soalzer"
	CIN : L03210T21985PLC001535
	Statement of Consolidated Audited Financial Results for the Fourth Quarter and year ended March 31, 2020
				Rs, In Lacs
		Quarter ending		Year ending
		31-03-2020	31-12-2019	31-03-2020
	INCOME	Audited	Audited	Audited
1	Revenue From Operations 2 Other Income	13,794.56 17.93	14,037.34 12.97	58,435.34 128.82
	TOTAL INCOME	13,812.49	14,050.31	58,564.16
ll	EXPENSES
1	Cost of materials consumed	9,825.26	9,873.55	43,200.27
	2 Changes in inventories of finished goods and work-in-progress 3 Employee benefit expenses	(64.40)	34.24	(430.82)
4	Finance Cost	778.32 544,24	836.45 501.69	2,984.54 2,122.14
5	Depreciation and amortisation expense	378.34	379.40	1,475.51
	6 Other expenses	1,799.56	1,579.47	6,003.27
	7 TOTAL EXPENSES	13,261.32	13,204.79	55,354.91
	lll PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX	551.17	845.51	3,209.24
	IV Exceptional items a Covid provision for inventory and receivables @ Kaycee	19.46		19.46
	V_ PROFIT BEFORE TAX	531.71	845.51	3,189.78
	VI Tax Expense	404.12	264.02	448.46
	Vil PROFIT AFTER TAX	935.83	581.49	2,741.32
Vill	Attributable to Owners of the Company (Holding Co)	924.97	573.86	2, 711,33
IX	Attributable to Non-controlling Interest	10.86	7.63	29.99
	X OTHER COMPREHENSIVE INCOME Items that will not be reclassified to profit or loss
	1 Re-measurement of post-employment benefit obligations	(76.32)	9.93	(43.37)
	2 Change in fair value of FVOCI equity instruments	(4.18)	(0.28)	(93.80)
	3 Net gain/ (loss) on sale of investments designated through OCI
	4 Income Tax expenses on above TOTAL OTHER COMPREHENSIVE INCOME FOR THE PERIOD,	15.51	(3.58)	34.91
		(64.99)	6.07	(102.26)
	Xl NET OF TAX			2,639.06
XIl_	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	870.84	587.56
1 2	Attributable to Owners of the Company (Holding Co) Attributable to Non-controlling Interest	861.57 9.27	580.45 7.Al	2,611.64 27.42
	xiii EARNINGS PER SHARE
	a_ - Basic after exceptional items	5.79	3.59	16.96

Samichettipalaya Coimbatore - 641 047, India. : Phone: + + 91 422 4233600 Fax :++91 422 2692170 ; E-mail : salzer@salzergroup.com Website : www.salzergroup.com

Notes-forming-part of above Consolidated results

• i) Holding Company and Subsidiary company are primarily engaged in manufacturing only one segment (single segment) viz., Electrical installation products;
• ii) | The above audited financial results were duly reviewed by the Audit Committee at its meeting held on June 18,2020 and were taken on record and approved by the Board of Directors at their meeting held on June 18,2020 along with the Audit report issued by the Statutory Auditor on Financial Results;
• ii) The Company has acquired majority controlling interest upon acquisition of Equity shares on July 11,2019 in Kaycee Industries Limited which consequently became Subsidiary to the Company in terms of Provisions of Section 2(87) of the Companies Act 2013. Accordingly, Full year consolidated financial results represent 12 Months financials of Salzer Electronics Limited and financials of the subsidiary company from the date of acquisition of its Controlling interest i.e July 11, 2019 till March 31, 2020.
• iv) Salzer Electronics Limited (Holding / Parent Company) and Kaycee Industries Limited (Subsidiary Company) evaluated the present extraordinary circumstances caused by the Pandemic led Lockdown and accordingly they have dealt with financial implications in their respective Books as at March 31,2020 in the following manner :-
• a) Since the parent company has practice of providing requisite provisions in the Financial Statements in line with the Accounting Standards for the expected credit loss on the carrying cost of both fixed and current assets taking care of all possible loss arising out of any uncertainties, no additional provisions have been made for mitigating any Covid 19 related loss. Having considered above, the parent has written off Bad and irrecoverable amount of Rs.83.96 Lacs Lakhs from the Book Debts as at March 31,2020 and charged to Profit & Loss Account instead of routing through accumulated provisions for expected credit loss and
• b) The Subsidiary Company has made provisions of Rs.19.46 Lakhs with a view to observing all likely future loss arising out of Covid 19 induced lockdown.
• v) The given figures are not strictly comparable to any of the relevant corresponding period of the last year in view of reasons stated in para 3 and accordingly figures for respective period of previous years not furnished.
• vi) This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules 2015 (IND AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.

ds yw ——_f? Coimbatore - 641 047. ~———\___R Doraiswamy June 18, 2020 Managing Director

(DIN : 00003131)

Samichettipalayam, Coimbatore - 641 047, India. Phone : + + 91 422 4233600 Fax :++ 91 422 2692170 nnd ee Cer E-mail : salzer@salzergroup.com Website : www.salzergroup.com

SALZER ELECTRONICS LTD. CIN : LO3210TZ1985PLC001535 Salzer

SALZER	ELECTRONICS LTD.
		Salzer
	CIN : LO3210TZ1985PLC001535
		tiViarch 31, 2020
Particulars		Mar 31, 2020
	ASSETS
	1 Non-current Assets - {a) Property, Plant and Equipment
	(b) Capital Work in progress	20,535.53 272.02
	(c) Investment Property	0.77
	(d) Intangible Assets	1,125.70
	(e) Financial Assets -	-
i	Investments	85.16
	ii Trade Receivables iii Others	713.51
	a (f) Other Non-Current Assets	1,779.93 303.92
	Total Non-Current Assets	24,816.54
	2 Current Assets
	(a) Inventories	16,060.73
i	(b) Financial Assets . Investments	225.43
ii	Trade Receivables	15,209.90
	iii Cash and Cash equivalents	234.88
V_ Loans	lv Other Bank balances -	944,32
	vi Others	2,408.23 50.49
	(c) Other Current Assets
	Total Current Assets	1,717.83 36,851.81
	TOTAL ASSETS _	61,668.35
i	EQUITY AND LIABILITIES
	1 EQUITY
	(a) Equity Share Capital	1,598.27
	(b) Other Equity Equity attributable to the Owners of the Company	29,405.44 31,003.71
	Non Controlling interest	389.95
	Total Equity	31,393.66
	2 LIABILITIES
	(1) Non-current Liabilities (a) Financial Liabilities	_
_	i, Borrowings	1,777.61
	(b) Provisions	82.76
	(c) Deferred tax liabilities (net)	1,834.79
	(d) Other Non-Current Liabilities	23.84
	Total Non-current Liabilities	3,719.00
	(2) Current Liabilities (a) Financial Liabilities
	i Borrowings ii Trade Payables	15,625.76
		5,409.12 500.79
	(b) Other Current Liabilities	4,865.26
iii Others	(c) Provisions	161.46
	(d) Current Tax Liabilities (Net)	(6.70)
	; Total Current Liabilities

Samichettipalaya Phone : + + 91 422 4233600 Fax:++ 91 422 2692170 E-mail : salzer@salzergroup.com Webgs|te : www.salzergroup.com m, Coimbatore - 641 047, India. so

==.

SALZER ELECTRONICS LTD. —t— | ad —| Consolidated Cash Flow Statement for the period ended 31st March, 2020

CIN : L03210TZ1985PLC001535

PARTICULARS	For the period ended 31.03.2020
A. CASH FLOW FROM OPERATING ACTIVITIES
Profit/(Loss) after tax	2,639.06
Adjustments for:
Tax expenses	448.46
Depreciation and Amortisation	1,475.51
Interest Income	(63.02)
Finance Costs	2,122.14
(Gain)/Loss on Foreign Exchange Fluctuations (Net)	(12.59)
Dividend Income	(18.31)
(Profit)/Loss on Sale of Assets (Net)	1.58
Other Non-operating Income	(7.59)
Operating Profit before working capital changes	6,585.24
Adjusted for working capital changes
Inventories	(1,794.20)
Trade and Other receivables	(824.15)
Trade and Other Payables	(167.99)
Cash Generated from Operations	3,798.91
Direct Taxes Paid	(644.44)
Net Cash Flow from Operating Activities-----A	3,154.47
B. CASH FLOW FROM INVESTING ACTIVITIES
Investment in Subsidiary (Including Goodwill)	(1,662.16)
Investment in Fixed Assets-Net	(3,530.17)
Sale of Fixed Assets	44.01
Non-operating Income	7.59
Proceeds from Investments	56.34
Post Acquisition Profit from Subsidiary	65.74 18.31
Dividend Income
Interest Income Net Cash Used in Investing Activities---------- B	63.02 (4,937.31)
C. CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from Short Term Borrowings	2,065.76
Other non-Current Assets	247.37
Long term Borrowings - receipts	1,356.53
Repayment of non -current liabilities	23.84
Interest and Finance Charges	(2,122.14)
(Gain)/Loss on Foreign Exchange Fluctuations (Net)	12.59
Dividend and Dividend Tax Paid	(347.11)
Net Cash Generated from Financing Activities-----C	1,236.84
Net Increase in Cash and Cash Equivalents------ A+B+C	(546.01)
ADD: Cash and Bank balances at the Beginning of the Year	1725.21
Cash and Bank balances at the End of the Year	1,179.20
BS as per Consolidated at the end of the year Cash & Bank Balances	1,179.20
Method" prepared above flow has been under The cash "Indirect the as set out
Statement of Cash "S Accounting Standard in Indian Flows. AS) (Ind 7-
ve —	pa?

Samichettipalayam, Coimbatore - 641 047, India. Phone : + + 91 422 4233600 Fax : + +91 422 2692170 ISO 9001 EPIC pee E-mail : salzer@salzergroup.com Website : www.salzergroup.com

INDEPENDENT AUDITOR'S REPORT

TO THE BOARD OF DIRECTORS OF

Salzer Electronics Limited

Report on the audit of the Consolidated Financial Results Opinion

We have audited the accompanying Statement of Consolidated Financial Results of Salzer Electronics Limited ("Holding company") and its subsidiary (holding company and its subsidiary together referred to as "the Group"), for the quarter and year ended March 31,2020 ("the Statement"), being submitted by the holding company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditor on separate audited financial statements/ financial information of subsidiary the Statement:

• 1. includes the financial results of the subsidiary company, Kaycee Industries Limited
• b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations, as amended; and
• c. gives a true and fair view, in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Group for the quarter ended March 31, 2020 and for the period from April 01, 2019 to March 31, 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those andards are further described in the Auditor's Responsibilities for the Audit of the lidated Financial Results section of our report. We are independent of the Group, in Ea ance with the Code of Ethics issued by the Institute of Chartered Accountants of India _ as "sto athbr with the ethical requirements that are relevant to our audit of the financial ⁼state ents under the provisions of the Companies Act, 2013 and the Rules thereunder, and

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254, Gandhiji Road 1st Floor, Jewel Complex 8/36, ' LRG Lay-oul, ; Sth Street 7-A,S Sri ij , : Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 28681

Sc, FCA, Com., F.C.A., DISA, M.Com., F.C.A., D.LS.A., M.Com., F.C A., M.Com., F.C.A Membership No. 027133 embership No. 028346 Membership No. 208150 Membership No. 208792 Manihership No 234722 ERODE - 638 001. 642 (Old # 324) Raja Street ABT Road, Karuvampalayam cae ee Tel : 0424-2269599 COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 si a cel aeazr pyaaa | Tors0422: 2904731, 2990882 | Tel 0424 4922843 Tel : 0422 - 2312899 Se

we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note (iv) to the Consolidated Financial Results in which the Group describes the uncertainties arising from the COVID 19 pandemic. Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Consolidated Financial Results

These Consolidated financial results have been prepared on the basis of the Consolidated financial statements.

The Holding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate account ny policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results 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 fin >ncial results by the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Board of Directors of the companies included in the are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the

E : casaminathan@yahoo.co.in|_E : bjayaramca@yahoo.co.in E : kplatha1995@gmail.com E: jfrankca@gmail.com j E : "kgs kssathishkumar@yah yahoo.co.in

aaa Com, FCA, DPA. M.Com., F.C.A., D.LS.A., MCom., F.C.A., M.Com., F.C.A embership us 027133 }: Momnertip No; 8346 Membership No. 208150 Membership No. 208792 Membership No. 234722 254, Gandhiji Road 1st-Fioos, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-A, Sri Nagar, Behind Sungam 25 ij ERODE - 638 004. 642 (Old # 324) Raja Street | ABT Road, Karuvampalayam ~ Ramanathapuram Sl ee Tel: 0424-2289500 COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 nL apie aie Se era, | T:0422-2904731, 2380882 | TOT Tel : 0422 - 2312899 TT Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 28681

T. SAMINATHAN. Boa | || B. JAYAR: | K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR

going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

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

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated 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 consolidated 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 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control. WwW
• ^>Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

onclude on the appropriateness of the Board of Directors' use of the going concern sis of accounting and, based on the audit evidence obtained, whether a material certainty exists related to events or conditions that may cast significant doubt on XK : ee he ability of the Group to continue as a going concern. If we conclude that ^a

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eta: AY

254, Gandhiji Road 1st Floor, Jewel Complex 8/36, LRG Lay-out, 5th Street | 7-4, Sri Nagar, Behind Sungam 254, Gandhiji Road ERODE - 638 001. 642 (Old # 324) Raja Street | ABT Road, Karuvampalayam Ramanalhapuram ERODE - sk 001 Tel - 0424-2269509 COIMBATORE - 641 004. TIRUPUR - 641 604 COIMBATORE - 641 045 : Tel :0422 - 2904731, 2390882 | 'Tel: 0421 - 4322843 Tel : 0422 - 2312899 muses Cell : 98427 27344 Cell : 99444 57928 Cell : 98942 88807 Cell: 98430 80753 Cell : 98844 28681

Membership No. 027133 bership No. 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722

BSc. FCA, om. F.C.A., DSA. M.Com., F.C.A., DILS.A, MCom., FCA. M.Com., .C.A.,

T. SAMINATHAN B. JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR

material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• 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 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.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated 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 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Og. JAYARAM K.P.LATHA if | J. i FRANKL IN DAV E : casaminathan@yahoo.co.in} E : bjayaramca@yahoo.co.in | © : kplathat995@gmail.com E: jfrankca@gmail.com @gmail. E : kssathishkumar@yahoo.co.i mar@yahoo.co.in

ERODE - 638 001. 642 (Old # 324) Raja Street ABT Road, Karuvampalayam Sha ~~ ih nba Tel : 0424-2269599 COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641045 eli oer rna | Ta 0422-2304731, 2380882 | Tel OA Aan Tel : 0422 - 2312899 b eycteorscass f Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 28681

B.Com., FCA. D.LS.A., M.Com., F.C.A., D.LS.A., M.Com., F.C.A.. ie) ee ; Membership No. 028346 | Membership No. 208180 } Membership No. 208792 | Membership No. 234722 254, Gandhiji Road 1st Floor, Jewel Complex 8/36, LRG Lay-out, 5th Street | 7-A, Sri Nagar, Behind S -

Other Matters

The consolidated Financial Results includes the audited Financial Results of the subsidiary, whose financial information reflect Group's share of total assets of Rs. 1,479.72 Lakhs as at March 31, 2020, Group's share of total revenue of Rs.1,333.15 Lakhs and Group's share of total net profit after tax of Rs.18.01 Lakhs and Rs.69.43 Lakhs for the quarter ended March 31, 2020 and for the period from July 01, 2019 to March 31,2020 respectively, as considered in the consolidated Financial Results, which have been audited by their respective independent auditors. The independent auditors' reports on Financial Results/financial information of the subsidiary have been furnished to us and our opinion on the consolidated Financial Results, in so far as it relates to the amounts and disclosures included respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph above.

Our opinion on the consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the Financial Results/financial information certified by the Board of Directors.

For JDS ASSOCIATES Chartered Accountants FRN :008735S ed ——_S— » aS _—_=_——

(B.JAYARAM) Partner Memb.No : 028346

Date : June 18,2020

Place ; Coimbatore -641001

UDIN: 20028 34.6 AAAAEH® 66K

B. JAY SES ro wey 5 'Gk Chernesei cuarcgas isi Floor. fewsi Commis 324, Raja Sticet, Coimbatore-64} ⁰⁰¹

T. SAMINATHAN B. JAYARAM

Cell : 98427 27344 Cell : 99444 57928 E : casaminathan@yahoo.co.in| E : biayaramca@yahoo.co.in

B.Sc., F.C.A., B.Com., F.C.A., D.I.S.A., Membership No. 027133 | Membership No. 028346 254, Gandhiji Road ist Floor, Jewel Complex

ERODE - 638 001. 642 (Old # 324) Raja Street ; COIMBATORE - 641 001. Tel :0424-2269599 | 4) 0422 - 2304731, ^2390882

M.Com., F.C.A., D.LS.A., M.Com., F.C.A.., M.Com., F.C.A.,

8/36, LRG Lay-out, 5th Street | 7-A, Sri Nagar, Behind Sungam 254, Gandhiji Road ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel : 0424-2269599 Tel : 0421 - 4322843 Tel : 0422 - 2312899 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 ²⁸⁶⁸¹

K.P, LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR Membership No. 208150 Membership No. 208792 Membership No. 234722 E : kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in