Salzer Electronics Ltd. — Interim / Quarterly Report 2022

Aug 8, 2022

SALZER ELECTRONICS LTD. —— | bad —|

CIN : LO3210TZ1985PLC001535

August 8, 2022

To

BSE Limited Exchange Plaza, C-1, Block G, I Floor, New Trading Ring, BandraKurla Complex, Rotunda Building, Bandra (E),Mumbai - 400 051_—y. P.J.Towers, Dalal Street, Tel :+91 22 26598235/36, 26598346 Fort, Mumbai - 400 001. Fax : +91 22 26598237/38

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

SCRIP CODE: 517059 Symbol: SALZERELEC

Dear Sir,

Sub : Outcome of the Board Meeting held on August 8, 2022 Ref : Our letter dated July 27, 2022

This is to inform in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015 and in furtherance to our letter referred above that the Board of Directors of the Company at their meeting held today (August 8, 2022) considered and approved standalone as well as consolidated Unaudited Financial Results of the Company for the First Quarter ended 30.06.2022 together with the Limited Review report of M/s. JDS Associates, Statutory Auditor of the Company, as required under Regulation 33 of SEBI LODR Regulations, which is attached herewith for your records and dissemination to the stakeholders. A copy of the same 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 as prescribed under the SEBI Listing Regulations will be published in English and Tamil newspapers within time stipulated.

The Meeting commenced at 16.30 Hrs and closed at _18.00_ Hrs

May kindly be acknowledged the receipt.

Thanking you

Yours faithfully SALZER ELECTRONICS LTD

R DORAISWAMY MANAGING DIRECTOR (DIN :00003152)

SALZER ELECTRONICS LTD. SS |S

Standalone Statement of Un-Audited Financial Results for the First Quarter ended June 30, 2022

	SALZER ELECTRONICS	LTD.			SS S
	CIN : LO3210TZ1985PLC001535
	Standalone Statement of Un-Audited Financial Results for the First Quarter ended June 30, 2022
					Rs. In Lacs
	S.No Particulars		Quarter ended	:	Year Ended
		6/30/2022	3/31/2022	6/30/2021	3/31/2022
1	{INCOME	Un-Audited	Audited	Un-Audited	Audited
a	[Revenue From Operations	23305.68	22,802.03	14897.89	78,363.30
b_	lother Income	107.48	34.67	14.07	217.88
	Total income	23413.16	22836.70	14911.96	78581.18
2	EXPENSES Cost of materials consumed	20048.35	17769.96	12775.79	63,764.67
a b	Purchases of stock-in-trade	0.00	0.00	0.00	0.00
c	Changes in inventories of finished goods and work-in-	-1253.00	785.51	-1319.26	-1,585.42
	progress Employee benefit expenses	797.59	860.37	, 652.77	2,939.99
d_ e	Finance Cost	561.08	501.94	512.37	1,980.54
f	Depreciation and amortisation expense	395.02	405.26	394.03	1,600.59
f	Other expenses	1751.09	2097.41	1308.40	6,865.90
	TOTAL EXPENSES PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX	22300.13 1113.03	22420.45 416.25	14324.10 587.86	75566.27 3014.92
3 4	Exceptional items	0.00	0.00	0.00	0.00
5	PROFIT BEFORE TAX	1113.03	416.25	587.86	3014.92
7	Tax Expense	235.09	33.66	193.21	766.77
8	Current Tax	274.44	112.11	140.00	688.22
9 10	Defferred Tax PROFIT AFTER TAX	-39.35 877.94	-78.45 382.59	53.21 394.65	78.55 2248.15
11	}OTHER COMPREHENSIVE INCOME
	Items that will not be reclassified to Profit or Loss	aor	aoe	aL5e	35.6?
	Income tax relating to items that will not be reclassified	-7.38	3.71	5.43	8.48
	to
	Items that will be reclassified to Profit or Loss	e	0	°
	Income tax relating to items that will be reclassified to Profit	0	0	0
	or Loss Total other Comprehensive income (Net of taxes)		11.39	16.15	25.19
12 13	Total Comprehensive Income for the Period	-21.93} 856.01	393.98	410.80	2273.34
IX	Paid up share capital - equity shares of Rs.10/- each	soahies	to	mace	1927
	Face value of equiy share capital
X	{Reserves and Surplus	0.00	0.00	0.00	33384.32
XI	EARNINGS PER SHARE
	Basic before & after exceptional items (In Rs.) Diluted before & after exceptional items (Rs.)	5.49 5.49	2.39 2.39	2.47 2 AT)	14.07 14.07

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

Notes forming part of above STANDALONE results:

• 1. The Company operates in only one segment viz., Electrical installation products.
• 1. The above standalone results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on August 08, 2022
• 1. The Statutory Auditors of the Company carried out a limited review of the Financial Results for the quarter ended June 30, 2022,
• 1. 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.
• 1. The figures of the preceding 3 months ended March 31, 2022 are the balancing figures between the audited figures in respect of the full previous financial year and the published year to date figures upto the third quarter of the respective financial year and
• 1. Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

For SALZER ELECTRONICS LIMITED

(DIN:00003131)

^JDS ASSOCIATES CHARTERED ACCOUNTANTS

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

The Board of Directors Salzer Electronics Limited Coimbatore -641047

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Salzer Electronics Limited ("the Company") for the quarter ended June 30, 2022 and year to date results for the period April 01,2022 to June 30,2022 ("the Statement") and being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (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 August 08,2022 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.
• 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 of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying the analytical and other review procedures and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

E :casaminathan@yahoo.co.in| E: bjayaramca@yahoo.co.in

^TSAMINATE AS M.Com., F.C.A., D.LS.A., M.Com., F.C.A., M.Com., F.CA., BSc., F.C.A., B.Com., F.C.A., D.I.S.A., | '

Co. JAVARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR

254, Gandhiji Road 4st Floor, Jewel Complex 8/36, LRG Lay-out, 5th Street | 7-A, 'Sri Nagar, Behind Sungam 254, Gandhiji Road p38 00 642 (Old # 324) Raja Street | ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001. ERODE «oop COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel : 0424-2269599 Tel :0424-2269599 | Tal . 0422 - 2304731, 2390882 Tel : 0421 - 4322843 "Tel : 0422 - 2312899 vy oebas 2a684

Membership No. 027133 | Membership No. 028346 Membership No. 208150 Membership No. 208792 Membership ne ²³⁴⁷²² Cell : 98427 27344 , Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753 . , ^E: kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.

^JD S ASSOCIATES CHARTERED ACCOUNTANTS

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 recognition and measurement principles laid down in the applicable Indian Accounting Standards prescribed under Section 133 of the Companies Act , 2013 and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, contains any material misstatement. 2015 including the manner in which it is to be disclosed, or that it

For JDS ASSOCIATES Chartered Accountants FRN :0087355

Date : August 08,2022 Place : Coimbatore UDIN : 92028346AONMEE1133

(BJAYARAM) Partner M.No : 028346

a _—>

T. SAMINATHAN

EB: casaminathan@yahoo.co.in E: bjayaramea@yahoo.co.in B.Sc., F.C.A., Membership No. 027133 254, Gandhiji Road ERODE - 638 001.

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

4st Floor, Jewel Complex ⁶⁴²(Old # 324) Raja Street COIMBATORE - 641 001. Tel :0424-2269599 | oj - 0422 - 2304731, ^2390882 Cell : 98427 27344 Cell : 99444 ⁵⁷⁹²⁸

K.P. LATHA M.Com., F.C.A., D.L.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: kplathat995@gmail.com J. FRANKLIN DAVID M.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

Es kssathishkumar@yahoo.co.in

SALZER ELECTRONICS LTD. Solzer

CIN: L03210TZ1985PLC001 ⁵³⁵

_— eee eee ciidated-StaterrentoF UrrAradited Praca Resuts fOr UME FIST CUATEET ENTE JUNS 3° ^o , 2022

			Quarter ended			Year Ended
		S.No Particulars	6/30/2022	3/31/2022	6/30/2021	3/31/2022
			Un-Audited	Audited	Un-Audited	Audited
1	INCOME		23790.33	23,886.90	15262.88	80,354.15
a		Revenue From Operations		52.82	22.63	247.62
b		Other Income	122.51	23939.72	15285.51	80601.77
		Total Income	23912.84
2		EXPENSES		18465.97	12945.88	64,550.68
a		Cost of materials consumed	20164.17	0.00	0.00	0.00
b		Purchases of stock-in-trade	0.00	816.37	$-1309.90$	$-1,533.96$
		Changes in inventories of finished goods and work-in-	$-1257.53$
с		progress	909.06	962.34	748.48	3,359.63
d		Employee benefit expenses	562.36	503.60	$-513.64$	1,987.65
e		Finance Cost	402.70	412.68	404.64	1,633.48
$\mathsf{f}$		Depreciation and amortisation expense	1905.20	2251.36	1393.35	7,353.54
f		Other expenses	22685.96	23412.32	14696.09	77351.02
		TOTAL EXPENSES PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX	1226.88	527.40	589.42	3250.76
3			0.00	0.00	0.00	0.00
4		Exceptional items	1226.88	527.40	589.42	3250.76
5		PROFIT BEFORE TAX	263.04	70.19	193.61	830.28
$\overline{7}$		Tax Expense	303.09	130.27	140.40	741.35
8		Current Tax	$-40.05$	$-60.08$	53.21	88.93
9		Defferred Tax	963.84	457.21	395.81	2420.48
10		PROFIT AFTER TAX
	11	OTHER COMPREHENSIVE INCOME	$-29.31$	20.03	21.58	38.60
		Items that will not be reclassified to Profit or Loss			5.43	8.48
		Income tax relating to items that will not be reclassified	$-7.38$	3.71		$\mathbf 0$
		to Items that will be reclassified to Profit or Loss		$\mathbf 0$	0
		Income tax relating to items that will be reclassified to Profit		$\bf{0}$	0	0
		or Loss	$-21.93$		16.15 16.32	30.12
	12	Total other Comprehensive income (Net of taxes)	941.91	473.53	411.96	2450.60
	13	Total Comprehensive Income for the Period
	14	Net Profit attributable to:	811.01		395.52 324.15	2,259.32
		Owners of Parent	152.83		133.06	161.15 0.29
		Non-controllinginterests
	15	Other Comprehensive Income attributable to:		789.08		2,288.2 411.96
		Owners of Parent		152.83	134.29	162.3 0.29
	IX	Non-controllinginterests Paid up share capital - equity shares of Rs.10/- each	1598.27		1598.27 1598.27	1598.2
		Face value of equiy share capital				33,627.0 0.00
	X	Reserves and Surplus		0.00	0.00
		EARNINGS PER SHARE
	ΧI	Basic before & after exceptional items (In Rs.)		6.03	2.03	2.48 2.48
	a b	Diluted before & after exceptional items (Rs.)		6.03	2.06

e Samichettipalayam, Coimbatore - 641 047, India. Iso 01 Phone : + +91 422 4233600 Fax:++91 422 ^2692170 ECL eae 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 standalone results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on August 08, 2022,
• 1. The Statutory Auditors of the Company carried out a limited review of consolidated Financial Results for the quarter ended June 30, 2022;
• 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 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 respective financial year.
• 1. Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

R ELECTRONICS LIMITED

August 08, 2022 Managing Director

Coimbatore - 641 047. R Doraiswamy

(DIN:00003131)

^JD S ASSOCIATES CHARTERED ACCOUNTANTS

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 amended

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 subsidiary (the Parent and its subsidiaries together referred to as "the Group"), for the quarter ended June 30,2022 and for the period from April 01, 2022 to June 30, 2022 ("the Statement) attached herewith being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBJ (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. ^Areview 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 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of the following entities:
• a) Subsidiaries
  • 1) Kaycee Industries Limited
  • 2) Salzer EV Infra Private Limited

E » casaminathan@yahoo.co.in E : biayaramca@yahoo.co.in E : kplatha1995@gmail.com E: jfrankca@gmail.co

" Ser B.Com. ECA. DISA. Mcom,FCA,.DISA, | — M-Com. a er a No, ²³⁴⁷²² Memb hi No 027133 Membership No. 028346 Membership No. 208150 Membership No. pa

ee a Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-A, Sri Nagar, Behind Sungam 254, Gandhiji Cell 98427 27344 Cell : 99444 57928 E : kssathishkumar@yahoo.co.in : '| il.com

THAN B. JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUM

254, Gandhi Road = aie F 324) Raja street ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001. ERODE - 638 001. COIMBATORE 64 001 TIRUPUR - 641 604 Se. Tel : 0424-2269599 - 0424- " ; Tel : 0421 - 4322843 "Tel: 0422 - - 9pedd ²⁸⁶⁸¹ Tel 0424-22600" Tel : 0422 - 2304731, 239088? Cell : 98942 88807 Cell : 98430 80753 Cell : ⁹⁸

sent AR

J DS ASSOCIATES CHARTERED ACCOUNTANTS

• b) Step Down Subsidiary Salzer Emarch Electromobility Private Limited
• c) Associate entities Salzer Kostad EV Charges Private Limited
• 5, Based on our review cond ucted 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, nothin accompanying Statement, principles laid down in th g has come to our attention that causes us to believe that the prepared in accordance with the recognition an d measurement e 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 and 52 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 contain ^sany material misstatement.
• 1. The consolidated Unaudited Financial Results includes the interim financial results of subsidiary which have not been reviewed/audited by us, whose interim financial results reflect total revenue of Rs. 1007.87 lakhs, total profit before Tax of Rs. 413.85 Lakhs, total profit after Tax of Rs. 85.90 Lakhs and total comprehensive income of Rs.85.90 lakhs for the quarter ended 30.06.2022 as considered in the consolidated unaudited interim financial results. The subsidiary — "Salzer Company/Associate Comp financial results/ financial ⁱ their review in accordance with SRE 2410, Review of Interim EV Infra Private Limited" /Step Down any are yet to commence their business operations. These interim nformation have been reviewed by other auditor who carried out Financial Information Subsidiary performed bytheIndependent 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 subsidiary 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.

For JDS ASSOCIATES Chartered Accountants FRN :008735S

(B.JAYARAM) Partner Memb.No : 028346

Date : August 08,2022 Place : Coimbatore UDIN : 32028346AONLIH2212

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

254, Gandhiji Road ERODE - 638 001. E: casaminathan@yahoo.co.in} E: bjayaramca@yahoo.co.in

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

4st Floor, Jewel Complex 642 (Old # 324) Raja Street Tel : 0424-2269599 , ee - 641 001. Cell: 98427 27344 ae ere

K.P. LATHA M.Com., F.C.A., D.LS.A., Membership No. 208150 8/36, LRG Lay-out, 5th Street ABT Road, Karuvampalayam TIRUPUR - 641 604 Tel : 0421 - 4322843 Cell : 98942 88807

E : kplathat995@gmail.com

J. FRANKLIN DAVID | K.S. SATHISHKUMAR

M.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

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