Salzer Electronics Ltd. — Interim / Quarterly Report 2023

Dec 11, 2023

November 04, 2023

To

THE CORPORATE RELATIONSHIP DEPT M/s. NATIONAL STOCK EXCHANGE OF INDIA LTD., M/s.BSE Limited Exchange Plaza, C-1, Block G, I Floor, New Trading Ring, Bandra Kurla 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

• Sub: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations").
• Ref: Our intimation letter dt. 25.10.2023

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 (November 04, 2023) considered and approved inter-alia the following:

• ^>Standalone Unaudited Financial Results of the Company for the Second Quarter / half year ended 30.09.2023 along with Limited Review report of M/s. JDS Associates, Statutory Auditor of the Company (Enclosed Annexure-A)
• Consolidated Unaudited Financial Results of the Company for the Second Quarter / half year ended ended 30.09.2023 along with Limited Review report of M/s. JDS Associates, Statutory Auditor of the Company (Enclosed Annexure-B)

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 the stipulated time.

^Acopy of the same will be uploaded in the Company's website www.salzergroup.net,

The meeting commenced at 11.30 a.m and concluded at 2--'™ p.m

The above is for information and dissemination.

Thanking you,

For SALZER ELECTROMICS LIMITED

KA COMPANY SECRETARY & COMPLIANCE OFFICER

Encl : As above

SALZER ELECTRONICS LTD.

Sol2zer

Standalone Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended September 30, 2023

					ANNEX AEB
	ELECTRONICS SALZER		LTD.			Sol2zer
	CIN : LO3210TZ1985PLC001535
	Standalone Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended
			30, 2023				September
							Rs. In Lacs exept for share data
S.No	Particulars		Quarter ended		Half year ended		Year Ended
			30-09-2023 30-06-2023 30-09-2022		30-09-2023 30-09-2022		31-03-2023
			Un-Audited Un-Audited Un-Audited Un-Audited			Un-Audited	Audited
	JINCOME a__ Revenue From Operations
b	Other Income	27368.47 40.37	28186.03 53.31,	24495.92 -36.81	55554.50	47801.60	101316.69
	Total Income	27408.84	28244,.34	24459.11	98.68 55653.18	70.67	13726
Il	EXPENSES					47872.27	101453.95
	a__ Cost of materials consumed	20890.63	22480.76	19219.52	43371.39	39267.87	81827.82
»__	[Changes in inventories of finished goods and work-in-progress	261.85	-187.99	-226.47	73.86]	-1479.47	-1964.41
						:
d=	c__ Employee benefit expenses Finance Cost	1014.61	934.47	868.52	1949.08	1666.11	3514.74
		821,17	789.01	613.18	1610.18	1174.26	2605.69
_	[Pebredistion andamortisation expense	489.71	440.02	400.90	929.73	795.92	1611.39
f	Other expenses	2674.20	2498.05	2186.01	5172.25	3937.10	8824.46
	TOTAL EXPENSES	26152.17	26954.32	23061.66	53106.49	45361.79	96419.69
Hil	AND PROFIT TAX BEFORE: EXCEPTIONAL ITEMS	1256.67	1290.02	1397.45	2546.69	2510.48	5034.27
	Exceptional items	0	0.00	0	0.00	0.00	0.00
IV	PROFIT BEFORE TAX	1256.67	1290.02	1397.45	2546.69	2510.48	5034.27]
V_	Tax Expense	-318.58	-360.27	-502.09	-678.85	-737.18	-1398.07
VI	{PROFIT AFTER TAX J}OTHER COMPREHENSIVE INCOME	938.09	929.75	895.36	1867.84	1773.30	3636.20
	lems that will not be reclassified to	27.89	38.49	67.43	10.60	45.50	-15.93
b	profit or loss
	Items th that will i be reclassified ified to profit fi or loss	0.00	0.00	0.00	0.00	0.00	0.00
Vil	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	910.20 ;	968.24 :	962.79 '	1878.44 i	1818.80 é
	Paid up share capital - ity shares						3620.27 '
vill	EPS NODS Sahel ~ SQUIER of Rs.10/- each	1668.27	1638.27	1598.27	1668.27	1598.27	1618.27
IX	Reserves and Surplus						38523.12
X a	Earning per share ( of Rs.10/- each) Basic (in Rs,)	5.67	5.71	5.60

Phone : + + 91 422 4233600 Fax: ++ 91 422 2692170 E-mail : salzer@salzergroup.com Website : www.salzergroup.com

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 and recommended by the Audit Committee and following which, approved by the Board of Directors at their meeting held on November 04,2023,
• 1. During the second quarter ,
• ^>The Company allotted 3,00,000 equity shares of Rs.10/- each against the conversion of the warrants opted by the subscribers of such warrants and thereby, the paid up share capital of the Company stands increased from Rs.16,38,27,370 comprising of 1,63,82,737 equity shares of Rs.10/- each to Rs.16,68,27,370 comprising of 1,66,82,737 equity shares of Rs.10/- each and ,
• ^>The Company subscribed 40,000 equity shares of Rs.10/- each for cash consideration of Rs.4,00,000/- in Salzer Kostad EV Charges Private Limited (Associate Company)
• 1. The Statutory Auditors of the Company carried out a limited review of standalone Financial Results for the second quarter/ Six Months period ended September 30, 2023,
• 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. Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

Coimbatore - 641 047 November 04, 2023

For SALZER ELECTRONICS LIMITED a, ee a =

D RAJESHKUMAR JOINT MANAGING DIRECTOR (DIN: 00003126)

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

STANDALONE AUDITED STATEMENT OF THE ASSETS AND LIABLITIES AS AT 30.09.2023

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

SALZER ELECTRONICS LTD.

A. CASH FLOW FROM OPERATING ACTIVITIES Net profit after tax Adjustments for:	Period Ending 30.09.2023 Amount in Rs.(Lacs)		Period Ending 30.09.2022 Amount in Rs.(Lacs)
		1,867.84		1,818.81
Tax Expenses	678.85		721.87
Depreciation	929,73		795,92
Interest Income	18.15		-18.55
Finance Costs
Dividend Income
				2,591.53
				4,410.34
				-492,49
				3,917.85
				-429.00
		92.50		3,488.85
B. INVESTING ACTIVITIES :
Investments in Fixed assets (Net)
Increase/ Decrease in Capital Work in Progress
Non Operating Income
Profit/ (Loss) on sale of Investments
Proceeds from Sale of Investments
Interest Income
				-1,297.00
Net cash used in investing activities
	(Gain)/Loss on Foreign Exchange Fluctuations (net) (Profit) / Loss on sale of Investments (Profit) / Loss on sale of Fixed Assets Fair valuation of investments Impairment on Goodwill Other Non Operating Income Other Comprehensive Income Operating Profit before working capital changes Add: Adjustments for working capital changes Inventories Trade and other receivables Trade and other Payables Other Liabilities Cash generated from operations Direct tax paid Net cash from operating activities Sale/(Investment) in Mutual Funds and Equitites (Net) Profit/ (Loss) on Sale of Fixed assets Investment in subsidiary/Associate Other Non Current Investments Dividend Income	1,610.18 -24,73 -29.54 0.00 0.00 -34.39 0.00 -26.26 23.79 -505.86 "2,713.72 -2,393.74 1,205.56 -1,551.63 -123.26 26.26 0.00 -152.02 1:12 0.00 -10.80 0.00 29,54	3,145.78 5,013.62 -4,407.75 605.87 -513.36 -18.15 = -1,798,93	1,174.26 -8.70 -24.94 -2,92 0.25 -6.73 0.00 15715 -54.08 1,817.28 -672.86 1,890.88 106.77 -1,158.35 0.00 -90.62 15.15 0.00 -56.67 0.00 0.25 0.00 -6.76 0.00

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

SALZER ELECTRONICS LTD. —+— | ad —|

CIN : LO3210TZ1985PLC001535

C. FINANCING ACTIVITIES:

|--|

352.12 1,127.02

SALZER ELECTRONICS LTD.			—+—	ad —
C. FINANCING ACTIVITIES:
Proceeds from Short Term Borrowings
Money received against share warrants	1,958.21
			-166.69
Increase in Share capital	-557,02		0.00
Increase in Share Premium	50.00 1,342.50		0.00
Long Term Borrowings - Receipts	-47.71		0.00
Repayment of non current liabilities	0.00		0.00 -231.31
Interest and finance Charges	-1,610,18		~1,174.26
Gain/(Loss) on Foreign Exchange Fluctuations (Net) Dividend	24,73		-8.70
and dividend tax paid	-367.02	793.52		-287.69 — -1,868.65
Net cash from financing activities
		793,52		-1,868.65
Net increase in cash and cash equivalents (A+B+C)
Add : Opening Cash and Cash Equivalents		-912.91		323.20
Closing Cash balance		1,265.03 352,12		803.82 1,127.02

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

J DS ASSOCIATES CHARTERED ACCOUNTANTS

STANDALONE LIMITED REVIEW REPORT

Independent Auditor's Review Report on the review of second quarter and six months Unaudited Standalone Financial Results of the Company for the period ending September 30,2023 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

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 September 30, 2023 and year to date results for the period April 01, 2023 to September 30, 2023 ("the Statement") and being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, as amended (the "Listing Regulations").
• 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 November 04, 2023 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 perfor it and accordingly, we do not express an audit opinion.

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 : 0424-2269599 " Tel : 0422 - 2304731, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 Cell : 98427 27344 Cell : 99444 57928 Cell ; 98942 88807 Cell : 98430 80753 Cell : 98844 28681

E : casaminathan@yahoo.co.in] E : biayaramca@yahoo.co.in | E: kplathai995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

J D 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, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

Chartered Accountants Date : November 04,2023 FRN :008735S Place : Coimbatore UDIN : 23028346BGRPTR9317

For JDS ASSOCIATES

B. TOY ABRAM /F.C.A,DISA., Cha YAR ntant Ist Floor, JBavttétomplex, Mem@No SORBSaG ct

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

Cell : 98427 27344 "Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753

ij | Complex 8/36, LRG Lay-out, Sth Street | 7.4, Sri Nagar, Behind Sungam 254, Gandhij hiji Road cameegiesii urious Dekel ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001. Ce ace COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel - 0424-2269599 Tel :0424-2269598 | Tel: 0422 - 2304731, 2390882 | 'Tel: 0421 - 4322843 Tel : 0422 - 2312899 i

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

E : casaminathan@yahoo.co.in} E : biayaramca@yahoo.co.in | ©: kplathal!995@gmail.com E : jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

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

SALZER ELECTRONICS LTD.

Consolidated Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended September 30, 2023

	ELECTRONICS SALZER
						ANN EXsKE	-B.
						Salzer
	CIN : L03210TZ1985PLC001535		LTD.
	Consolidated Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended						September 30, 2023
							Rs. In Lacs exept for share data
	Particulars		Quarter Ended		Half year period ending		Year Ended
		30-09-2023	30-06-2023	30-09-2022	30-09-2023	30-09-2022	31-03-2023
	1_ INCOME			(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)			(Audited)
a	{Revenue From Operations	28,072.21	28,867.29	24,562.32	56,939.50	48,875.87	: 1,03,708.68
b	Other Income	28.78	3.5	-47,54	102.28	74,97	170.11
	TOTAL INCOME	28,100.99	28,940.79	24,514.78	57,041.78	48,950.84	1,03,878.79
2 a	EXPENSES
b	Cost of materials consumed Changes in inventories of finished goods and	21,216.46 200.71	22,723.53 -175.26	19,285.07 -604,11	43,939.99	39,652.81	82,694.88
c	woark-in-nraoress Employee benefit expenses	1,122.24	1041.04	980.01	25.45 2,163.28	-1,541.98 1,889.07	-1978.92 3,936.54
d	Finance Cost	831.57	799.95	614.17	1,631,52	1,176.53	2,611.89
e	Depreciation and amortisation expense	516.16	465.73	408.72	981.89	811.42	1,660.37
f	Other expenses	2,853.68	2669.89	2,337.89	5,923.57	4,243.09	9,465.99
	TOTAL EXPENSES	26,740.82	27,524.88	23,021.75	54,265.70	46,230.94	98,390.75
3	PROFIT BEFORE EXCEPTIONAL ITEMS AND	1,360.17	1,415.91	1,493.03	2,776.08	2,719.90	5,488.04
4	Teena items		0	0		0	1.52
	PROFIT BEFORE TAX	1,360.17 -350.28	1,415.91 -399.25	1,493.03 -532.10	2,776.08	2,719.90	5,489.56
5			1,016.66	960.93	-749.53 2,026.55	-795.14 1,924.76	-1527.68 3,961.88
6 7	Tax Expense PROFIT AFTER TAX	1,009.89
a	Attributable to : Owners of the Company	983.77	993.93	938.52	1,977.70	1,880.80}	3870.50
	b Non-controlling Interest	26.12	22.73	22.42	48.85	43.97	91.38
8	OTHER COMPREHENSIVE INCOME
a	ltems that will not be reclassified to profit or	-40.84	51.44	67.43	10.60	45.50	-17.89
b	insane Tax relating to Items that will not be reclassified to Profit or Loss	12.95	-12.95	0.00	0.00	0.00	4.5
c	Total other Comprehensive Income (Net of	-27.89	38.49	67.43	10.60	45.50	-13.39
9	TOTAL COMPREHENSIVE INCOME FOR THE	982.00	1,055.15	1,028.36	2,037.15	1,970.26	3,948.49
	a "AGribuable to : Owners of the Company	955.87	1032.43	1,005.96	1,988.30	1,926.29	3860.16
	b Non-controlling Interest	26.13	22,72	22.41	48.85	43.97	88.33
	10 Share Capital (Equity shares of Rs.10/- each)	1668.27	1638.27	1598.27	1668.27	1598.27	1618.27
11	Reserves and Surplus (Annualized)						39152.82
12 a	EARNINGS PER SHARE - Basic after exceptional items (in Rs.)	5.99	6.10	5.87	12.05	Li?	24,21

Phone : + +91 422 4 ax: ++ 91 422 2692170 E-mail : salzer@salzergroup.com Website : www.salzergroup.com Samichettipalay ore - 641 047, India.

Notes forming part of above CONSOLIDATED results:

• 1. The above consolidated standalone results were reviewed and recommended by the Audit Committee and upon which, approved by the Board of Directors in their meeting held on November 04, 2023,
• 1. The Statutory Auditors of the Company carried out a limited review of consolidated Financial Results for the six months /quarter ended September 80; 2023,
• 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. Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

Coimbatore - 641 047 November 04, 2023

For SALZER ELECTRONICS LIMITED ee

D RAJESH KUMAR JOINT MANAGING DIRECTOR (DIN: 00003126)

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

SALZER ELECTRONICS LTD. —+— | Pad —

SALZER ELECTRONICS LIMITED

AUDITED CONSOLIDATED BALANCESHEET AS AT 30/09/2023

SALZER	—+— LTD. ELECTRONICS CIN : L03210TZ1985PLC001535	Pad —
	SALZER ELECTRONICS LIMITED
	AUDITED CONSOLIDATED BALANCESHEET AS AT 30/09/2023	RS. IN LACS
		As at
Particulars	Sept 30,2023 ASSETS	Mar 31, 2023
1	Non-current Assets
(a) (b)	Property, Plant and Equipment 24,083.16 Capital Work in progress 228.11	23,452.23 63.10
(c)	Investment Property 0.77	0.77
(d) (e)	1,046.59 Intangible Assets Financial Assets	1,056.91
	: 99,23 i. Investments	91.44
	ii. Trade Receivables 796.28 628.25	934.66 617.42
(f)	iii, Others Other Non-Current Assets 532.99 _ ;	529.78
	Total Non-Current Assets 27,415.38	26,746.31
2 (a)	Current Assets ; 27,996.04 Inventories	27,380.09
(b)	Financial Assets i. Investments 574.82	422.80
	ii. Trade Receivables 31,782.09	28,726.53
	iii, Cash and Cash equivalents 185.88 iv. Other Bank balances 671.67	727.93
	v. Loans 1,055.02	1,010.90 1,022.70
{c)	vi. Others 28,06 Other Current Assets 3,361.41	42.70 3,447.51
	Total Current Assets 65,654.99	62,781.16
	TOTAL ASSETS 93,070.37	89,527.47
ll	EQUITY AND LIABILITIES
1 (a)	EQUITY 1,668.27 Equity Share Capital	1,618.27
(b)	41,559.60 Other Equity Equity attributable to the Owners of the Company 43,227.87	39,152.82 40,771.09
	Non Controlling interest 593.49	554.60
	43,821.36 Total Equity	41,325.69
2	LIABILITIES
(1) (a)	Non-current Liabilities Financial Liabilities
	i. Borrowings 730.35	778.06
	388.81 ii. Lease Liabilities Provisions 84.68	413.43 30.46
(b)	Deferred tax liabilites (net) 2,290.80	2,232.28 25.07
(c) (d)	Other Non-Current Liabilities 25.97	3,479.30
	Total Non-current Liabilites 3,520.61
(2)	Current Liabilities
(a)	Financial Liabilities
	i. Borrowings 28,435.53 ii. Trade Payables 8,853.83	26,477.33 11,201.27
	iv. Lease liabilities 47.52	44.45
(b)	471.89 iii, Others Other Current Liabilites 7,526.01	489.19 6,274.80
	(c) _ [Provisions 260.80	230.37
(d)	Current Tax Liabilities (Net) 132.82 45,728.40 Total Current Liabilites	5.07 44,722.48
	TOTAL EQUITY AND LIABILITIES 93,070.37	89,527.47

Phone : + + 91 422 4233600 Fax: + +91 422 2692170 rat Li E-mail : salzer@salzergroup.com Website : www.salzergroup.com porbe te Atlee Samichettipalaya aibatore - 641 047, India.

CIN : LO3210TZ1985PLC001535

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

SALZER ELECTRONICS LTD. —+— | ad —|

CIN : LO3210TZ1985PLC001535

C. FINANCING ACTIVITIES:

SALZER ELECTRONICS LTD.			—+—
				ad —
C. FINANCING ACTIVITIES:
Proceeds/(Repayment) from Short Term Borrowings
Money received against share warrants	1958.21 (557.02)		(363.15) 0.00
Increase in Share capital	50.00		0.00
Increase in Share Premium	1342.50		0.00
Other Non Current assets	0.00		131.38
Proceeds/(Repayment) from Long Term Borrowings	(71.43)		0.00
Interest and finance Charges	(1631.52)		(1176.53)
Gain/(Loss) on Foreign Exchange Fluctuations	24,73		8.70
Dividend and dividend tax paid	(367.02)	748.45	(287.69)	(1687.28)

Net cash from financing activities	748.45	(1687.28)
Net increase in cash and cash equivalents (A+B+C)	(881.28)	282.56
Add : Opening Cash and Cash Equivalents	1738.83	1174.59
	857.55	1457.14
Closing Cash balance	857.55	1457.14

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

J D S ASSOCIATES CHARTERED ACCOUNTANTS

CONSOLIDATED LIMITED REVIEW REPORT

Independent Auditor's Review Report on the review of second quarter and six months Consolidated Unaudited Financial Results of the Company for the period ending September 30,2023 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The Board of Directors Salzer Electronics Limited Coimbatore -641047

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Salzer Electronics Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as ("the Group"), and its share of the net profit after tax and total comprehensive income of its associates for the quarter ended September 30, 2023 and year to date results for the period from April 01, 2023 to September 30,2023 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors at their meeting held on November 04, 2023 , has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations and which has been initialled by us for identification purposes. Our responsibility is to express a conclusion on the Statement based on our review.
• *3. 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.

K.P. LATHA M.Com., F.C.A., D.LS.A., Membership No. 208150 8/36, LRG Lay-out, 5th Street ABT Road, Karuvampalayam ^E: kplatha1995@gmail.com E: jfrankca@gmail.com

M.Com., F.C.A., Membership No. 208792

7-A, Sri Nagar, Behind Sungam Ramanathapuram - 641 045 TIRUPUR - 641 604 COIMBATORE - 641 Tel ; 0421 - 4322843 Tel : 0422 - 2312899 Cell : 98942 88807 Cell : 98430 80753

J. FRANKLIN DAVID | 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

J D S ASSOCIATES CHARTERED ACCOUNTANTS

We have 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.

• Parent Company, its subsidiary and Associate Entities :
• i) Parent Company Salzer Electronics Limited
• ii) Subsidiary Company of Salzer Electronics Limited
  • a. Kaycee Industries Limited and
  • b. Salzer EV Infra Private Limited (Wholly Owned subsidiary)
• iii) Associate Entity of Salzer Electronics Limited
  • a. Salzer Kostad EV Charges Private Limited

iv) Step Down Subsidiary of Salzer Electronics Limited

a. Salzer EMarch Electromobility Private Limited

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

es ee

B. JAYARAM, B.Com.,F.C.A,DISA., Chartered Accountant Ist Floor, Jewe! Complex 642, Raja Street, ' Coimbatore - 641 001.

T. SAMINATHAN B. JAYARAM B.Sc., F.C.A., Membership No. 027133 Membership No. ⁰²⁸³⁴⁶

K.P. LATHA B.Com., F.C.A., D.LS.A., M.Com.,F.C.A, DISA, % ee Ee Membership No. ²⁰⁸¹⁵⁰

M.Com., F.C.A., 254, retcsgnten Gandhiji Road Lo _ Complex Membership No. 208792 8/36, LRG Lay-out, 5th Street 7-A, Sri N Membership No, 234722 oy 01. Saas ) Raja Street ABT Road, Karuvampalayam e!:0424-2269609 | _ COIMBATORE - 64% 001 TIRUPUR agar, Behind Sungam 254, Gandhiji Road - 641 604 Ramanathapuram, ERODE Cell 98427 27344 el : 0422 - 2304731, 2390882 | 'Tel: 0421 - 4322843 COMBATORE - 641 04g —— casaminathan@yahoo.co Coin] in]: E: bjayaramea@yahoo.coin bayaramen eee | E : klathat898@ercy Cell: 98942 88807 com Ca Cell ee : 98430 80753 Cell 5 ee : 98844 28681 E: jfrankca@gmail.com E: kssathishkumar@yahoo.co.i

K.8; SATHISHKUMA|

J DS ASSOCIATES CHARTERED ACCOUNTANTS

1. The consolidated Unaudited Financial Results includes the interim financial results of subsidiaries / Step Down Subsidiary Company / Associate Company which have not been reviewed/audited by us, whose interim financial results reflect total revenue of Rs. 2,308.73 Lakhs, total profit before Tax of Rs. 257.52 Lakhs, total profit after Tax of Rs. 186.84 Lakhs and total comprehensive income of Rs. 186.84 Lakhs for the Six months period ended 30.09.2023 as considered in the consolidated unaudited interim financial results. These interim financial results/ financial information have been reviewed by other auditor who carried out their 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 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.

Place : Coimbatore = UDIN : 23028346BGRPTS3186

For JDS ASSOCIATES Chartered Accountants Date : November 04,2023 FRN :008735S

B. JAYARAM, B.com.,F.C.A,DISA., Cha Benya Repquntant Ist Floor, Jewel Complex, 642, Rod#Areet, Mesh Natdi2834m41 001.

' a B.Com., F.C.A., D..S.A., M.Com., F.C.A., D.IS.A., M.Com., FCA. M.Com., EO ss Membership No 027133 Membership No. 028346 Membership No. 208150 Membership No. 208792 Membership No.

——— COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel - 0424-2769599 Tel : 0424-2269599 | te - 422 - 2304731, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 Se Cell : 98427 27344 Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753 I: ^|

'i 1st Floor, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-A, Sri Nagar, Behind Sungam 254, Gandhiji Road 254, Gandhiji Road 642 (Old # 324) Raja Street | ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001,

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

wn E : kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co. in E : casaminathan@yahoo.co.in} _E : biayaramca@yahoo.co.in