Salzer Electronics Ltd. — Capital/Financing Update 2024

Aug 6, 2024

August 06, 2024

To

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, Symbol: SALZERELEC Fort, Mumbai - 400 001. SCRIP CODE: 517059

THE CORPORATE RELATIONSHIP DEPT M/s. National Stock Exchange of India Ltd.,

Sub: Outcome of the Board Meeting held on August 06, 2024 Ref: Our letter dated July 23,2024

We wish to inform pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations") that the Board of Directors of the Company at their meeting held today i.e., August 06,2024, has transacted the following business :-

• 1. Approved the Standalone and Consolidated unaudited financial results for the quarter ended June 30, 2024 in terms of Regulation 33 of LODR Regulations and in pursuance of which, we have enclosed the following:
• ^>Enclosed the Standalone and Consolidated unaudited financial results for the quarter ended June 30, 2024 along with the Limited Review Report as Annexure -A
• vv Copies of both Standalone and consolidated Financial Results will be uploaded in the Company's website www.salzergroup.net.
• » Further, Pursuant to Regulation 47 of SEBI LODR Regulations, an extract of the aforesaid financial results in the manner prescribed under the SEBI Listing Regulations will be published in English and Tamil newspapers within time stipulated.
• 1. Took on record the retirement of below mentioned Independent Directors from the Board effective August 08, 2024 after closure of business hours in view of completion of their term of office.

Dear Sir, Sub: Outcome of the Board Meeting held on August 06, 2024 Ref: Our letter dated July 23,2024 We wish to inform pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR that the Board of Directors of the Company at their meeting held today 06,2024, has transacted the following business :- 1. Approved the Standalone and Consolidated unaudited financial quarter ended June 30, 2024 in terms of Regulation 33 of LODR Regulations and in pursuance of which, we have enclosed the following: > Enclosed the Standalone and Consolidated unaudited financial quarter ended June 30, 2024 along with the Limited Review Report as Annexure -A Copies of both Standalone and consolidated Financial Results will be uploaded in vv the Company's website www.salzergroup.net. » Further, Pursuant to Regulation 47 of SEBI LODR Regulations, an extract of the aforesaid financial results in the manner prescribed under the Regulations will be published in English and Tamil newspapers stipulated. 2. Took on record the retirement of below mentioned Independent Board effective August 08, 2024 after closure of business hours of their term of office. Name of the Director DIN S.No Mr. N.Rangachary 00054437 i. Mr. V.Sankaran 00003141 ii. Mr. N.Jayabal 00003111 iii. 00003134 Mr. Nirmal Kumar Chandria iv. Mr. P.K.Shah 00003106 Vv. S "CF
			Regulations")
			results
			results
			SEBI
			Directors in view of completion

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

• Took on record the resignation of Mr. P.Ramachandran, Whole Time Director and Mrs. Thilagam Rajeshkumar, Non-Executive Non Independent Director from the Board effective August 08, 2024.
• Approved, subject to further consent of the shareholders, the appointment of Mr. N.Rangachary, as an Additional Director, designated as an Non- Executive Non-Independent Director and Chairman of the Company effective August 09, 2024 and whose term of office will be liable to retirement by rotation.
• Approved, subject to further consent of the shareholders, the Appointment of Mr.V. Sankaran, as an Additional Director, designated as an Non- Executive Non-Independent Director of the Company effective August 09, 2024 and whose term of office will be liable to retirement by rotation.
• Approved the proposal of setting up a manufacturing facility in Saudi Arabia through Wholly Owned Overseas Subsidiary (WOOS) with an initial investment of Rs.10 Crs.
• Took on record BSE Mail dated June 28,2024 about Non Compliance under Regulation 24A of SEBI LODR Regulation and another BSE mail dated July 25,2024 about the Non Compliance under Regulation 7(3) of SEBI LODR Regulations, arising out of delayed filing of returns under respective Regulations and advised the secretariat to be more vigilant in the compliance process.

The detailed disclosure in respect of Serial No.2,3,4 & 5 as required under Regulation 30 read with Schedule III Part A Para A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are appended herewith as Annexure B. The details of WOOS as required under aforesaid SEBI Circular will be submitted upon its incorporation.

The Meeting commenced at 12.00 noon, and closed at_—<--\$ 5 Pr)

Kindly take the same on record.

Thanking you

Yours faithfully or SALZER ELECTRONICS LTD

Company Secretary & Compliance Officer Encl : As above

				ANNExGRE	-@ .
SALZER	ELECTRONICS	LTD.
	Standalone Statement of Un-Audited Financial Results for the First Quarter ended June 30, 2024
					Rs. In Lacs except for per share data
Particulars		30-06-2024	Quarter ended		Year ended
		Un-Audited	31-03-2024 Audited	30-06-2023 Un-Audited	31-03-2024 Audited
Income 1
a.	)Revenue From Operations	34,712.67	31,757.28	28186.03	1,13,557,55
Other Income b. Total Income		106.94 34,819.61	41.13 31,798.41	58.31 28,244.34)	193.23 1,13,750.78
EXPENSES 2
	Cost of materials consumed	28,368.38	23,849.71	22480.76	87,604.26
	Purchase of stock-in-trade Changes in inventories of finished goods,work-	0.00 -1,013.35	0.00 75,92	0.00 -187.99	0.00 -735.24
b.	in-progress and stock-in-trade
c.	Employee benefit expenses	1,153.50	1,220.33	934.47	4,229.11
Finance Cost d. e.	Depreciation and amortisation expense	963.81 533.09	896,41	789.01	3,367.25
Other expenses f.		3,078.25	515.47 3,519.30	440.02 2498.05	1,906.25 11,439.34
	TOTAL EXPENSES	33,083.68	30,077.14	26,954.32	1,07,810.97!
3 TAX (1-2)	PROFIT BEFORE EXCEPTIONAL ITEMS AND	1,735.93	1,721.27	1,290.02	5,939.81
4	Exceptional items	0.00	0.00	0.00	0.00
5 TAX EXPENSE	PROFIT BEFORE TAX	1,735.93	1,721.27	1,290.02	5,939.81
6 Current Tax a.		333.85	413.97	347.89	1423.93
Deferred Tax b.		77.31	99.40	12.38	197.24
7	Total tax expense PROFIT AFTER TAX (5-6)	411.16 1,324.77	513.37 1,207.90	360.27	1,621.17
8	OTHER COMPREHENSIVE INCOME			929.75	4,318.64
4 loss	Items that will not be reclassified to profit or	55.23	-28.48	38.49	68.09
b	Items that will be reclassified to profit or loss	tae	one	B00	0.09
(net of tax)	Total Other Comprehensive Income/ (Loss)	55.23	-28.48	38.49	68.09
9 PERIOD (7+8)	TOTAL COMPREHENSIVE INCOME FOR THE	1,380.00	1,179.42	968.24	4,386.73
10	es up share capital - equity shares of Rs.10/-	1,768.27	1,738.27	1,638.27	1,738.27
11	Reserves and Surplus (Other Equity) EARNINGS PER SHARE ( of Rs.10/- each)	-	-		44,868.41
12		7.57	6.95	5.71	25.77
Basic (in Rs.)				5.25

Date : August 06, 2024 Place : Coimbatore

For Salzer Electronics Limited

D RAJESHKUMAR JOINT MANAGING DIRECTOR CHIEF FINANCIAL OFFICER (DIN: 00003126)

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:

• J The Company operates in only one segment viz., Electrical installation products.
• The above standalone results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on August 06, 2024
• The Statutory Auditors of the Company carried out a limited review of the Financial Results for the quarter ended June 30, 2024,
• During the period under review, 3,00,000 equity shares were allotted upon conversion of warrants exercised by warrant subscribers and thereby the paid up share capital of the Company increased from Rs. 17,38,27,370 comprising of 1,73,82,737 equity shares of Rs.10/ each to Rs. 17,68,27,370 comprising of 1,76,82,737 equity shares of Rs.10/- each.
• During the period under review,
  • ¢ The Company made investment by acquiring 15,000 equity shares of Rs. 10/- each for total value of Rs. 1.5 Lakhs in Salzer EV Infra Private Limited (Subsidiary Company) and
  • ^eThe Company made investment by acquiring 20,000 equity shares of Rs.10/- for a total value of Rs.2 Lakhs in Salzer Kostad EV Charges Private Limited (Subsidiary Company).
• The above Standalone financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with relevant rules thereunder.
• Figures of the last quarter of the financial year 2023-24 are the balancing figures between the audited figures in respect of the full financial year and published year to date figures upto the third quarter of the financial year.
• Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

For SALZER ELECTRONICS LIMITED

D RAJESHKUMAR August 06, 2024 JOINT MANAGING DIRECTOR & CHIEF FINANCIAL OFFICER (DIN:00003126)

015

Coimbatore - 641 047.

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

STANDALONE LIMITED REVIEW REPORT

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

To

The Board of Directors Salzer Electronics Limited Coimbatore -641047

• 1. We have reviewed the accompanying statement of un-audited standalone financial results of Salzer Electronics Limited ("the Company") for the quarter ended June 30,2024 ("the Statement") attached herewith being submitted by the Company pursuant to the requirements of Regulation 33 of the SEB! (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").
• 1. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors of the company at their meeting held on February 08, 2024 and 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 which has been initialled by us for identification purposes. Our responsibility is to express a conclusion on the statement based on our review. ~

T. SAMINATHAN ( B. JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR B.Sc., F.C.A\, B.Com., F.C.A., 0.1.S.A., M.Com., FC.A., D.LS.A,, M.Com., F.C.A., M.Com.,F.C.A.,

254, Gandhiji Road {st Floor, Jewel Complex ee "tous Sth Street | 7-A, Sri Nagar, Behind Sungam 254, Gandhiji Road

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

ERODE - 638 004. 642 (Old # 324) Raja Street oad, Karuvampalayam Ramanathapuram ERODE - Te! 0424-2269599 COIMBATORE - 644 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel «0424 oe Tel : 0422 - 2304731, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 i cpeateneOee? Cell : 98427 27344 Cell : 99444 57928 Cell : 98942 88807 Cell: 98430 80753 Cell "98844 28681 E: casaminathan@yahoo.co.in} E: blayaramca@yahoo.co.in | E:kplatha1995@gmail.com E! jfrankea@gmail.com E : kssathishkumar@yahoo.co.in

• 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 financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel, primarily of persons responsible for financial and accounting matters and analytical procedures applied to financial data and thus provides less assurance than an audit. A review is substantially less in scope than an audit conducted in accordance with 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. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results prepared in accordance with the aforesaid Indian Accounting Standard (IND AS) specified under Section 133 of the Companies Act, 2013 as amended read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

Date : August 06,2024 _ Place : Coimbatore UDIN: 202 834bLBKRo0TTH bY (B.JAYARAM)

For JDS ASSOCIATES Chartered Accountants FRN :008735S

Partner Memb.No : 028346

B.S¢., FCA, B.Com., F.C.A., D.ILS.A., M.Com., FC.A., D.LS.A., M.Com,, F.C.A,, M.Com., F.C.A., Membership No. 027133 | Membership No. 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722

254, Gandhiji Road 1st Floor, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-4, Sri Nagar, Behind Sungam 254, Gandhiji Road ERODE - 638 001. 642 (Old # 324) Raja Street ABT Road, Karuvampaiayam Ramanathapuram ERODE - 638 001 Tel: 0424-2269599 COIMBATORE - 641 001. TIRUPUR - 644 604 COIMBATORE - 641 045 . a Tel : 0422 - 2304731, 2390882 | 'Tel "0421 - 4322843 Tel : 0422 - 2312899 Pee eee, Cell : 98427 27344 Cell: 99444 57928 Cell : 98942 88807 Cell ; 98430 80753 Cell : 98844 ²⁸⁶⁸¹ E casaminathan@yahoo.co.in] E;bjayaramca@yahoo.co.in | ©: kplathat995@gmail.com E : jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

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

Consolidated Statement of Un-Audited Financial Results for the First Quarter ended June 30, 2024

	ELECTRONICS SALZER LTD. CIN : LO3210TZ1985PLC001535
				Soalzer
	Consolidated Statement of Un-Audited Financial Results for the First Quarter ended June 30, 2024
			Quarter ending		Rs. In Lakhs Year ending
		30-06-2024	31-03-2024}	30-06-2023	31-03-2024
i	INCOME	Unaudited	Audited	Unaudited	Audited
a	Revenue From Operations	35,690.25	32,657.03	28867.29	1,16,631.43
b	Other Income TOTAL INCOME	127.30	25,06	73.50
2	EXPENSES	35,817.55	32,682.09	28,940.79	1,16,826.19
a	Cost of materials consumed	28,776.10	24,237.53	22723.53	88,846.68
b	Purchase of Stock-in-Trade	0.00	0.00	0.00
c	Changes in inventories of finished goods and work-in-progress	-980.50	68.77	-175.26	-747.15
d e	Employee benefit expenses Finance Cost	1,274.02 973.35	1,327.28 906.07	1041.04 799.95	4,664.28
f	Depreciation and amortisation expense	561.07	541.66	465.73	3,408.58 2,011.22
g	Other expenses	3,275.51	3,715.00	2669.89	12,169.66
	TOTAL EXPENSES	33,879.55	30,796.31	27,524.88	1,10,353.27
3 4	PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX (1-2) Exceptional items	1,938.00 0.00	1,885.78 0.00	1,415.91 0.00	6,472.92
5	PROFIT BEFORE TAX	1,938.00	1,885.78	1,415.91	6,472.92
6	TAX EXPENSES
a	Current Tax Deferred Tax	384.71	461.56	379.58	1,576.15
b	Total Tax Expense	78.11 462.82	92.38 553.94	19.67 399.25	190.19 1,766.34
7	PROFIT AFTER TAX (5-6)	1475.18	1331.84	1016.66	4706.58
	a Attributable to Owners of the Company (Holding Co)	1,435.34	1,290.15	993.93	4,587.52
	b Attributable to Non-controlling Interest OTHER COMPREHENSIVE INCOME	39.84	41.69	22.73	119.06
8 a	ltems that will not be reclassified to profit or loss	55.23	(34.31)	38.49
b	Items that will be reclassified to profit or loss	0.00	0.00	0
	Total Other Comprehensive Income/ (Loss) (net of tax)	55.23	-34.31	38.49
9	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	1,530.41	1,297.53	1,055.15	4,768.83
	a Attributable to Owners of the Company (Holding Co) b Attributable to Non-controlling Interest	1,490.57 39.84	1,257.39 40.14	1032.43 22.72	4,651.30 117.51
	10 Share Capital (Equity Shares of Rs.10/- each)	1,768.27	1,738.27	1638.27	1,738.27
	11 Reserves and Surplus (Annualized)				45,607.87
12	EARNINGS PER SHARE Basic after exceptional items (in Rs.)
	b Diluted after exceptional items (in Rs.)	7.57 7.49	7.42 7.30	6.10 5.62
a
				For Salzer Electronics Limited
					D RAJESHKUMAR
	Date : August 06, 2024 Place : Coimbatore			JOINT MANAGING DIRECTOR

Date : August 06, 2024 Place : Coimbatore

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 CONSOLIDATED results:

• 1. The Parent and Subsidiary operate in only one segment viz., Electrical installation products.
• 1. The above consolidated results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on August 06, 2024,
• 1. The Statutory Auditors of the Company carried out a limited review of consolidated Financial Results for the quarter ended June 30, 2024;
• 1. The above Consolidated financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with relevant rules thereunder.
• 1. Figures of the last quarter of the financial year 2023-24 are the balancing figures between the audited figures in respect of the full financial year and published year to date figures upto the third quarter of the financial year.
• 1. Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

For SALZER ELECTRONICS LIMITED

August 06, 2024 JOINT MANAGING DIRECTOR & CHIEF FINANCIAL OFFICER (DIN:00003126)

Coimbatore - 641 047. % D RAJESHKUMAR

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

CONSOLIDATED LIMITED REVIEW REPORT

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

The Board of Directors Salzer Electronics Limited Coimbatore -641047

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results of Salzer Electronics Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter ended June 30,2024 ("the Statement") attached herewith being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEB! (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, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion 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. 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.

ole

E: casaminathan@yatioo.co.in) E:bjayaramca@yahoo.co.in | ©: kplathal295@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.ca in

B.Sc. F.C.A,, B.Com., F.C.A., D.LS.A,, M.Com., F.C.A,, D.1S:A., M.Com., F.C.A.,

Cell : 98427 27344 Cell 99444 57928 Cell ; 98942 88807 Cell - 98430 80753 Cell: 98844 28681

Tel 0424-2260500 COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel : 0422 - 2304734, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 ea

T. SAMINATHAN (. JAYARAM K.P, LATHA J. FRANKLIN DAVID

We also performed procedures in accordance with the Circular issued by the SEB! under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; to the extent applicable.

4, The Statement includes the results of the following entities:

a) | Wholly Owned Subsidiary

Salzer EV Infra Private Limited

b) Subsidiaries

• 1) Kaycee Industries Limited
• 2) Salzer Kostad EV Charges Private Limited
• c) | Step Down Subsidiary SalzerEmarch Electromobility Private Limited
• 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 6 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 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. The consolidated Unaudited Financial Results includes the interim financial results of subsidiaries and Step Down Subsidiary Company which have not been reviewed / audited by us, whose interim financial results reflect total revenue of Rs.1261.05 Lakhs, total net profit /loss after tax of Rs. 150.41 Lakhs for the quarter ended June 30,2024 as considered in the consolidated unaudited interim financial results. These unaudited financial results and other unaudited financial information have been been reviewed by other auditor who carried out their

Mernbership No. 027133 | Membership No, 028346 Membership No, 208150 Membership No. 208792 Membership No. 234722

254, Gandhiji Road 4st Floor, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-4, Sri Nagar, Behind Sungam 254, Gandhiji Road ERODE - 638 001. 642 (Old # 324) Raja Street ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001 Tel : 0424-2269599 COIMBATORE - 641 001. TIRUPUR ~ 641 604 COIMBATORE - 641 045 Tel: 0424-22 | Tel : 0422 - 2304731, 2390882 | Tel 0421 - 4922843 Tel : 0422 - 2312899 Bea cne 0s Cell: 98427 27344 Cell 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Ceil : 98844 28681

T, SAMINATHAN a JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SA

B.Sc., F.C.A., B.Com:, F.C:A,, D.1:S.A,, M.Com., F.C:A., D.LS.A., M.Com., F.C.A., M.Com. FRA:

E : casaminathan@yahoo.co.in} E: bjayaramca@yahoo.co.in | ©: kplathal995@gmail.com E: jfrankca@gmail.com E: kssathishkumar@yahoo.co./n

review in accordance with SRE 2410, Review of Interim Financial Information performed by the Independent Auditor of the entity and their reports vide which they have issued an unmodified conclusion, have been furnished to us by the Parent's Management and our conclusion on the Statement, in so far as it relates to the affairs of the 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 on the Statement is not modified in respect of the above matter.

Date : August 06, 2024 Place : Coimbatore UDIN: 2HO2ESLELBKBoTKEGS] es,

For JDS ASSOCIATES Chartered Accountants FRN :008735S

gee

(BJAYARAM) Partner Memb.No : 028346

B.Sc, F.C.A., B.Com,, F.C.A., D.S.A,, M.Com., FCA. DLIS.A., M:Com., F.C.A. ; M.Com., F.C.A.,

254, Gandhiji Road ist Floor, Jewel Complex ie LRG Lay-out, 5th Street | 7.4, Sri Nagar, Behind Sungam 254, Gandhiji Road

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

Membership No. 027133 | Membership No, 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722

ERODE - 638 001. 642 (Old #324) Raja Street | ABT Road, Karuvampalayam Ramanathapuram ' Te! 0424.2969599 COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 sone ee Tel :0422 - 2304731, 2390862} Tel 04214322843 Tel : 0422 - 2312899 Te eae Cell : 98427 27344 Cell 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Call - 98844 28681 E :casaminathan@yahoo.co.in| E:bjayaramca@yahoo.co.in | ©: kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

					Annexure B
1;	under Disclosures 1/P/CIR/2023/123 dated July 13, 2023 in respect of Serial No.2 &	SEBI	Circular No.		SEBI/HO/CFD/CFD-PoD- 3
Sr.No	Name of the Appointee	Reason for Change viz., cessation appointment, resignation, I SEMICN ey death or otherwise;	Date of	(in case of Appointment)	Brief Profile Disclosure of relationships ; between directors (in case of appointment ofa Director)
	1. Mr. N.Rangachary	Retirement form position	August 08, 2024
	2. Mr. V.Sankaran	of Non- executive	August 08, 2024
	3. Mr. N.Jayabal	I dent paepen Director after	August 08, 2024
	4. Mr. Nirmal Kumar Chandria	i ara e their term of office	August 08, 2024	Not Applicable Not Applicable
	5. Mr. P.K.Shah		August 08, 2024
	6. Mr. P.Ramachandran	Resignation August 08, due to personal reasons	2024
	7. Mrs. Thilagam Rajeshkumar	Resignation due to personal reasons	August 08, 2024

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

ELECTRONICS CIN : L03210TZ1985PLC001535 Disclosures Sr. Particulars 1. Name of the Appointee 2. DIN 3. Reason for Change viz., appointment, resignation, removal, Non- death or otherwise; 4. Date of Appointment(as applicable) & term of appointment	LTD. under SEBI Circular No. 1/P/CIR/2023/123 dated July 13, 2023 in respect of Serial No. 4&5 Description Mr. N.Rangachary 00054437 Appointment as an Additional designated as an Non- Executive Independent Director Chairman of the Company, subject approval of the shareholders. August 09, 2024, subject to retirement August by rotation	Soalzer Annexure B SEBI/HO/CFD/CFD-PoD Description Mr. V.Sankaran 00003141 Director, Appointment as an and Additional Director, and designated as an Non- to Executive and Non- Independent Director the Company, subject to approval of the shareholders. 09, 2024, subject to retirement by rotation
5. Brief Profile (In case of Appointment)	* He was an IRS officer having over « 44 years of experience under the Government of India, Ministry of Finance. He had also served as a Chairman of Central Board of Direct Taxes and also first Chairman of Insurance Regulatory and Development Authority (IRDA) from 1996 till June 2003 and retired. Further, he was also an advisor to the Government of Andhra Pradesh - Finance department during the period 2002 - 2008. He is a Honorary Member of Indian Institute of Actuaries.	He is a qualified professional from Institute of Company Secretaries of India and Institute of Cost and Works Accountants of India e He has over four decades of experience in reputed companies in various areas Finance, Costing, Taxation and General Management.
relationships between directors (in case of appointment of a Director)		Nil
required Circular dated June 20, 2018	Director by virtue of debarred SEBI Order or any other such	V.Sankaran is not from holding office of a Director virtue of any SEBI Order or any other such authority.
	6. Disclosure 7. Information iSO 9001 Registered	of Nil as Mr. N.Rangachary is not debarred from Mr. under holding office of a No. any LIST/COMP/14/2018- authority. t+tt++4444 Samichettipalayam, Coimbatore - 641 047, India. : + + 91 422 4233600 Fax: ++ 91 422 2692170 Phone E-mail : salzer@salzergroup.com Website : www.salzergroup.com

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