Salzer Electronics Ltd. — Interim / Quarterly Report 2023

Feb 10, 2023

SALZER ELECTRONICS LTD. —+—| ad —

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, 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 February 2, 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 (February 10, 2023) considered and approved standalone as well as consolidated Unaudited Financial Results of the Company for the third Quarter ended 31.12.2022 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

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 11.30 Hrs and closed at _!2.5 0 Hrs

May kindly be acknowledged the receipt.

Thanking you

Yours faithfully For SALZER ELECTRONICS LTD

f{fr(_—mm0nwJ@H

D RAJESHKUMAR JOINT MANAGING DIRECTOR & CHIEF FINANCIAL OFFICER (DIN :00003152)

SALZER ELECTRONICS LTD. —+— | ad —|

	SALZER ELECTRONICS LTD.					salze
	CIN: L03210TZ1985PLC001535
	Standalone Statement of Un-Audited Financial Results for the Third Quarter and Nine Mothns period ended December 31,2022
						Rs. In Lacs exept for share data
	S.No Particulars		Quarter ended		Nine Months ended		Year Ended
		12/31/2022	9/30/2022	12/31/2021	12/31/2022	12/31/2021	3/31/2022
		Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Audited
T	INCOME
a	Revenue From Operations	23994.68	24495.92	21182.83	71796.28	55561.27	78363.30
b	Other Income	47.56	$-36.81$	88.25	118.23	183.21	217.88
	Total Income	24042.24	24459.11	21271.08	71914.51	55744.48	78581.18
Ш a	EXPENSES Cost of materials consumed	18840.08	19219.52	18181.62	58107.95	45994.71	63764.67
$\mathbf b$	Changes in inventories of finished goods and work-in-progress	$-457.97$	$-226.47$	$-1419.48$	$-1937.44$	$-2370.93$	$-1585.42$
$\mathsf C$	Employee benefit expenses	858.85	868.52	735.74	2524.96	2079.62	2939.99
d	Finance Cost	666.18	613.18	497.11	1840.44	1478.60	1980.54
e f Ш	Depreciation and amortisation expense	407.34	400.90	393.03	1203.26	1195.33	1600.59
	Other expenses	2379.42	2186.01	1917.00	6316.52	4768.49	6865.90
	TOTAL EXPENSES	22693.90	23061.66	20305.02	68055.69	53145.82	75566.27
	PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX	1348.34	1397.45	966.06	3858.82	2598.66	3014.92
	Exceptional items	0	$\Omega$	0.00	0.00	0.00	0.00
IV	PROFIT BEFORE TAX	1348.34	1397.45	966.06	3858.82	2598.66	3014.92
	Tax Expenses	$-381.07$	$-502.09$	$-241.48$	$-1118.25$	$-733.11$	$-766.77$
	Current Tax
	Deffered Tax
	PROFIT AFTER TAX	967.27	895.36	724.58	2740.57	1865.55	2248.15
$\mathsf{V}$
VI	OTHER COMPREHENSIVE INCOME
			67.43	$-8.93$	76.00	13.80	25.19
a	Items that will not be reclassified to profit or loss	30.50		$\mathbf{0}$	$\Omega$	$\overline{0}$
b	Items that will be reclassified to profit	$\overline{0}$	$\Omega$
c	or loss Total Other Comprehensive Income/	30.50	67.43	$-8.93$	76.00	13.80	25.19
	(Loss) (net of tax)
VII	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD (V+IV)	997.77	962.79	715.65	2816.57	1879.35	2273.34
VIII	Paid up share capital - equity shares	1598.27	1598.27	1598.27	1598.27	1598.27	1598.27
IX	of Rs.10/- each Reserves and Surplus						33384.32
X	EARNINGS PER SHARE
a	Basic after exceptional items (In Rs.)						14.07
		6.05	5.60	4.53	17.15	11.67

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:

• 1. The Company operates in only one segment viz., Electrical installation products.
• The above standalone results were reviewed by the Audit Committee on February 10,2023 and approved by the Board of Directors in their meeting held on February 10, 2023,
• The Statutory Auditors of the Company carried out a limited review of standalone Financial Results for the third quarter/ Nine Months period ended December 31, 2022,
• warrants During the Quarter under review, the Company has made an allotment of 17,00,000 share to the Promoters' bodies corporate on December 13,2022 on preferential issue basis Disclosures at an issue price of Rs.278.50/- per warrant in the accordance with SEBI (Issue of Capital and Requirements) Regulations 2018 upon receipt of 25% of the issue price per warrant. months The aforesaid share warrants are convertible into equity shares of Rs.10/- each over the 18 from the date of allotment by the warrant holders by paying the remaining 75% of the issue price.
• Indian The above Standalone financial results of the Company have been prepared in accordance with 2013, Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, read with relevant rules thereunder.
• this Previous period's period's figures have been regrouped/ reclassified wherever necessary to conform to classifications

For SALZER ELECTRONICS LIMITED

February

Coimbatore - 641 047, er 'D RAJESHKUMAR 10, 2023 JOINT MANAGING DIERCTOR & CHIEF FINANCIAL OFFICER (DIN:00003126)

STANDALONE LIMITED REVIEW REPORT

Independent Auditor's Limited Review Report on the Unaudited Standalone Quarterly Financial Results and Standalone Year to date financial results of the Company for the quarter ended December 31, 2022.

To

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 December 31,2022 and year to date results for the period April 01, 2022 to December 31, 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 February 10,2023 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 performed an audit and accordingly, we do not express an audit opinion.

T. SAMINATHAN «7, ia K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR B.Sc., F.C.A., B.Com., F.C.A., D.L.S.A., M.Com., F.C.A., D..S.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, 5th Street | 7A, 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 : 0424-2269599 : 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: bjayaramca@yahoo.co.in | E: kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

1. believe Based on our review conducted as above, nothing has come to our attention that causes us to accordance that the accompanying statement of unaudited standalone financial results prepared in Accounting with the recognition and measurement principles laid down in the applicable Indian Standards prescribed under Section 133 of the Companies Act , 2013 and other material Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any misstatement.

Date : February 10,2023 Place : Coimbatore UDIN: 220I8 3h R&PPLOQ/ZF

T. SAMINATHAN B.Sc., F.C.A., B.Com., B. JAYARAM F.C.A., D.LS.A., M.Com., K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR F.C.A., D.LS.A., M.Com., F.C.A., M.Com., F.C.A., Membership 254, Gandhiji No. Road

⁰²⁷¹³³Membership No. 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722 1st Floor, Jewel Complex * LRG Lay-out, 5th Street | 7.4. pi Nagar, Behind Sungam 254, Gandhiji Road ERODE - 638 001. 642 (Old # 324) Raja Street ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001. Tel : 0424-2969599 COIMBATORE - 641 001, TIRUPUR - 641 604 COIMBATORE - 641 045 Tel : 0424-2269599 : Tel : 0422 - 2304731, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 eee Cell : 98427 27344 Cell : 99444 57998 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 28681 casaminathan@yahoo.co.in} E: bjayaramca@yahoo.co.in | E: kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co..in

SALZER ELECTRONICS LTD.

ELECTRONICS SALZER LTD. CIN : L03210TZ1985P LC001535 December 31, 2022 Rs. In Lakhs
	Particulars	Quarter Ended				Nine Months period
		31-Dec-22	30-Sep-22	31-Dec-21	ending 31-Dec-22	31-Dec-21	31-Mar-22
					(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)		(Audited)
	INCOME
a_	Revenue From Operations	24,559.77	24,562.32	21,882.36 83.10	73,435.64 137.29	56,961.59 194.81	80,354.15 247.62
b	Other Income TOTAL INCOME	62.32 24,622.09	-47.54 24,514.78	21,965.46	73,572.93	57,156.40	80,601.77
Il	EXPENSES
a b	Cost of materials consumed Changes in inventories of finished	19,033.08 -464.68	19,285.07 -604.11	18,312.85 -1,170.38	58,685.89 -2,006.66	46,249.07 -2,020.35	63,934.25 -917.53
	goods and work-in-progress			849.17	2,858.52	2,397.29	3,359.63
c	Employee benefit expenses Finance Cost	969.45 666.85	980.01 614.17	500.51	1,843.38	1,484.05	1,987.65
d f	Depreciation and amortisation	415.56	408.72	400.30	1,226.98	1,220.80	1,633.48
g	Other expenses	2,531.89	2,337.89	2,051.00	6,774.98	5,102.19	7,353.54
	TOTAL EXPENSES	23,152.15	23,021.75	20,943.45	69,383.09	54,433.05	77,351.02
Ill	PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX Exceptional items	1,469.94	1,493.03	1,022.01	4,189.84	2,723.35	3,250.75
IV a	Prior Period Expenses	1.52	0.00	0.00	1.52	0.00	0
V_	PROFIT BEFORE TAX	1,471.46	1,493.03	1,022.01	4,191.36	2,723.35	3,250.75
VI	Tax Expenses	-419.11	-532.10	-257.28	-1,214.25	-760.09	-830.28
VII	PROFIT AFTER TAX Attributable to : Owners of the	1,052.35 1,031.00	960.93 938.52	764.73 835.95	2,977.11 2,911.80	1,963.26 1,935.17	2,420.47 2259.32
a b	Company Non-controlling Interest	21.34	22.42	-71,22	65.31	28.09	161.15
VII	}OTHER COMPREHENSIVE INCOME
a	Items that will not be reclassified to	30.83	67.43	-8.92	76.33	13.80	30.12
	profit or loss					1,977.06	2,450.59
IX a	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD Attributable to : Owners of the	1,083.18 1,061.84	1,028.36 1,005.96	755.81 742.16	3,053.44 2,988.13	1,948.97	2288.21
	Company
b	Non-controlling Interest	21.34	22.41	13.65	65.31	28.09	162.38
	X Share Capital (Equity shares of Rs.10/- each) Reserves and Surplus (Annualized)	1598.27	1598.27	1598.27	1598.27	1598.27	1598.27 33627.06
XI
	EARNINGS PER SHARE a_ - Basic after exceptional items (in	6.45	5.87	5.23	18.22	12.11	14.14
XI			6.42 5.87	5:23	18.12	12.11	14.14

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 above consolidated standalone results were reviewed and recommended by the Audit Committee at its meeting held on February 10,2023 and upon which, approved by the Board of Directors in their meeting held on February 10,2023,
• 1. The Statutory Auditors of the Company carried out a limited review of consolidated Financial Results for the quarter and Nine Months period ended December 31,2022,
• 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. Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

For SALZER ELECTRONICS LIMITED

Coimbatore - 641 047 x z

February 10, 2023 D RAJESHKUMAR

JOINT MANAGING DIRECTOR (DIN: 00003126)

CONSOLIDATED LIMITED REVIEW REPORT

Independent Auditor's Review Report on Review of Consolidated Unaudited Financial Results and Consolidated Year to date Financial Results of the Company for the Quarter ended December 31, 2022.

To

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 / loss after tax and total comprehensive income/(loss) of its associates for the quarter ended December 31, 2022 and year to date results for the period from April 01, 2022 to December 31, 2022 ("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 February 10, 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 and 52 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 "
• 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..

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..

WA JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR B.Sc., F.C.A., B.Com., F.C.A., D.1.S.A., M.Com., F.C.A., D.L.S.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 {st Floor, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7A, 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 - 641 004. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel (0424-2269599 Tel : 0422 - 2304731, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 a 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 | E: kplatha1995@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

• 1. 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)
• c. Salzer Kostad EV Charges Private Limited

iii) Step Down Subsidiary of Salzer Electronics Limited

• a. Salzer EMarch 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 / Step Down Subsidiary Company / Associate Company which have not been reviewed/audited by us, whose interim financial results reflect total revenue of Rs.3052.17 lakhs, total profit before Tax of Rs.356.32 Lakhs, total profit after Tax of Rs.260.32 Lakhs and total comprehensive income of Rs.260.32 lakhs for the Nine months period ended December 31,2022 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.

Date: February 10, 2023 Place : Coimbatore UDIN : 2 20AKS4HAGRPLP T98Q

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

254, Gandhiji Road 1st Floor, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-a, 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 - 641 004. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel : 0424-2269599 Tel : 0422 - 2304731, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 oe Cell : 98427 27344 Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 28681

B.Sc., F.C.A., B.Com., F.C.A., D.I.S.A., M.Com., F.C.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

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