Salzer Electronics Ltd. — Interim / Quarterly Report 2024

Nov 11, 2024

November 11, 2024

To

SCRIP CODE: 517059

THE CORPORATE RELATIONSHIP DEPT M/s. National Stock Exchange of India Ltd., BSE Limited Exchange Plaza, C-1, Block G, I Floor, New Trading Ring, BandraKurla Complex, Rotunda Building, Bandra (E),Mumbai - 400 051 P.J. Towers, Dalal Street, Symbol: SALZERELEC Fort, Mumbai - 400 001.

Dear Sir,

Sub: Outcome of the Board Meeting held on November 11, 2024 Ref: Our letter dated November 4,2024

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations"), we wish to inform you that the Board of Directors of the Company, at their meeting held today, i.e., November 11, 2024, has reviewed, transacted, and approved the enclosed Standalone and Consolidated Unaudited Financial Results for the Quarter and Six-Month period ended September 30, 2024 along with the Limited Review Report issued by M/s. Swamy & Ravi, the Statutory Auditors of the Company, in accordance with Regulation 33 of the LODR Regulations.

Further, we would like to inform you of the following:

• * Copies of both the Standalone and Consolidated Financial Results will be uploaded on the Company's official website: www.salzergroup.net,
• * In compliance with Regulation 47 of the SEBI LODR Regulations, an extract of the aforementioned financial results, as prescribed under the SEBI Listing Regulations, will be published in English and Tamil newspapers within the stipulated time frame.

The Meeting commenced at 11.30 a.m., and closed at _2.40 p.m.

This is for your kind information and record.

Thanking you Yours faithfully Company Secretary

& Compliance Officer

Encl : As above

SALZER ELECTRONICS LTD. CIN : L03210TZ1985PLC001535 Salzer

Standalone Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended September 30, 2024

	ELECTRONICS SALZER						Salzer
	CIN : L03210TZ1985PLC001535		LTD.
	Standalone Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended						September 30, 2024
							Rs. In Lacs exept for share data
S.No	Particulars	30/09/2024	Quarter ended 30/06/2024	30/09/2023	Half year ended 30/09/2024	30/09/2023	Year Ended 31/03/2024
		Un-Audited	Un-Audited	Un-Audited	Un-Audited	Un-Audited	Audited
I	INCOME
	a__ Revenue From Operations	33639.50	34712.67	27368.47	68352.17	55554.50	113557.55
b	/Other Income	1583.67	106.94	40.37	1690.61	98.68	193.23
Il	Total Income EXPENSES	35223.17	34819.61	27408.84	70042.78	55653.18	113750.78
a	Cost of materials consumed	25962.56	28368.38	20890.63	54330.94	43371.39	87604.26
b g	Purchase of Stock in Trade ini i f fini d Phaneesininventories of finished goods	- -921.23	- -1013.35	261.85	-1934.58	-
	and work-in-progress c__ Employee benefit expenses	1315.68	1153.50	1014.61	2469.18	73.86 1949.08	-735.24 4229.11
d=	Finance Cost	1006.90	963.81	821.17	1970.71	1610.18	3367.25
e	Depreciation and amortisation expense	538.34	533.09	489.71	1071.43	929.73	1906.25
f	Other expenses	3966.65	3078.25	2674.20	7044.90	\$5172.25	11439.34
	TOTAL EXPENSES	31868.90	33083.68	26152.17	64952.58	53106.49	107810.97
Wl	PROFIT BEFORE EXCEPTIONAL ITEMS AND TAX ([-Il)	3354.27	a 735.93 '	1256.67	509 0.20	2 546.69 ;	5939.81 i
	Exceptional items	:			'	4	:
IV	PROFIT BEFORE TAX	3354.27	1735.93	1256.67	5090.20	2546.69	5939.81
V a	TAX EXPENSES Current Tax	667.47
b	Deferred Tax	66.31	333.85 7731	274.74 43.84	1001.32 143.62	622.63	1423.93
c_	Total Tax Expenses	733.78	411.16	318.58	1144.94	56.22	197.24
VI	PROFIT AFTER TAX (IV-V)	2620.49	1324.77	938.09	3945.26	678.85 1867.84	1621.17 4318.64
Vil	OTHER COMPREHENSIVE INCOME
;	: asuifi : vores will not be reclassified to profit	62:39	55.23	27:89	—	1060	68.09
b	Items that will be reclassified to profit or loss		:	;
g	Peta a tierContirehesaive: Incariey	62.32	55.23	27.89	117.55	10.60	68.09
Vill	(Loss) (Net of Tax) TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	2682.81 8	380.00 1	' 910.20	4 062.81	1878.44	i 4386.73
ix;	: aa) ceauity sh
	Pald up sharecepitel "equity shares of Rs.10/- each	1768.27	1768.27	1668.27	1768.27	1668.27	1738.27
X XI	{Reserves and Surplus Earning per share ( of Rs.10/- each)						44868.41
b	a___ Basic (in Rs,) Diluted (in Rs.)	14.82 14.82	7.57 7.49	5.67 5.31]	22.44 22.32	11.38 10.56	25.77 24.42

Samichettipalayam, Coimbatore - 641 047, India. Phone : + + 91 422 4233600 Fax: + + 91 422 2692170 E-mail : salzer@salzergroup.com Website : www.salzergroup.co i 5( cne-8? Ee

a

os

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 and approved by the Board of Directors in their meeting held on November 11, ²⁰²⁴
• The Statutory Auditors of the Company carried out a limited review of the Financial Results for the quarter ended September 30, 2024,
• During the period under review,
• » The Company has reduced its equity stake in Kaycee Industries Limited from 73.51% to 71.96% by selling 1.55% in the market. As the result of such sale, other income for Q2FY25 and H1FY25 includes Rs. 15.76 Cr as profit from the sale of investment in Kaycee. and
• ^>3,00,000 equity shares were allotted upon conversion of warrants exercised by warrant subscribers on May 28,2024 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.
• 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.
• Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

For SALZER ELECTRONICS LIMITED

Coimbatore - 641 047,

S ee a -p

R DORAISWAMY November 11, 2024 MANAGING DIRECTOR (DIN:00003131)

STANDALONE AUDITED STATEMENT OF THE ASSETS AND LIABLITIES AS AT 30.09.2024

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

B. INVESTING ACTIVITIES :

		spa =
Net cash used in investing activities		-1,611.92		-1,798.94
Interest Income	18.05	-1,611.92	-18.15	_-1,798.94
Dividend Income	48.74		29.54
Other Non Current Investments	0.00
Other Non-Current Assets-Advance given for Capital Ext	-319.62
Investment in subsidiary/Associate	0.00		-10.80
Profit/ (Loss) on Sale of Fixed assets	126.86
Proceeds from Sale of Investments	1,748.56		4,72
Sale/(Investment) in Mutual Funds and Equitites (Net)	-486.73		-152.02
Profit/ (Loss) on sale of Investments	0.00		0.00
Non Operating Income	47.62		26.26
Increase/ Decrease in Capital Work in Progress	-97.50		-123.26
Investments in Fixed assets (Net)	-2,697.90		-1,551.63

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

C. FINANCING ACTIVITIES:

SALZER ELECTRONICS LTD.
CIN : LO3210TZ1985PLC001535			Salzszer
C. FINANCING ACTIVITIES:
Proceeds from Short Term Borrowings Money received against share warrants	3,411.83 -208.89		1,958.21
Increase in Share capital	30.00		-557.02 50.00
Increase in Share Premium	805.50		1,342.50
Long Term Borrowings - Receipts	487.19		-47.71
Repayment of non current liabilities	0.00		-
Interest and finance Charges	-1,970.71		-1,610.18
Gain/(Loss) on Foreign Exchange Fluctuations (Net)	-31.80
Dividend and dividend tax paid			24.73
Net cash from financing activities	-442.07	2,081.05 2,081.05	-367.02	793.51 793.51
Net increase in cash and cash equivalents (A+B+C)		-16.59		-912.93
Add : Opening Cash and Cash Equivalents		408.79		1,265.03
Closing Cash balance		392.20 392.20		352.10 352.10

Swamy & Ravi CHARTERED ACCOUNTANTS Cx \ 90, Co-Operative "A" Colony, K.K. Pudur, Coimbatore - 641 038. Ph : 0422 - 2446537, 4384536 E-mail : sr_cas2004@yahoo.co.in

Ref. No. : | Date: I | |202 Y

STANDALONE LIMITED REVIEW REPORT

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

Review report 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 September 30,2024 and year to date from April 01 2024 to September 30 2024 ("the Statement") attached herewith 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 11.11.2024 and prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standard 34 (Ind AS 34) "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder 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 Instit

Swamy «& Ravi CHARTERED ACCOUNTANTS 90, Co-Operative "A" Colony, K.K. Pudur, Coimbatore - 641 038. Ph : 0422 - 2446537, 4384536 E-mail : sr_cas2004@yahoo.co.in

Ref. No. : Date: })) 2004

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 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.

. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited 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 recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of the Listing 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.

Place: Coimbatore Date : November 11,2024 UDIN : : . > aH QA: 9G if SRK KBPF For SWAMY & RAVI f 2 323 Chartered Accountants Firm Regn. No ; ^0043175

S. Alamelu Partner M, No: 223555

SALZER ELECTRONICS LTD. CIN ; LO3210TZ1985PLC001535 Salzer

Consolidated Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended September 30, 2024

	ELECTRONICS SALZER					Salzer
	CIN ; LO3210TZ1985PLC001535	LTD.
	Consolidated Statement of Un-Audited Financial Results for the Second Quarter and Half year period ended September
			30, 2024
	Particulars		Quarter Ended			Rs. In Lacs exept for share data Half year period ending Year Ended
				30/09/2024 30/06/2024 30/09/2023 30/09/2024 30/09/2023 31/03/2024
				(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)}
	INCOME						(Audited)
a	Revenue From Operations	34,423.43)	35,690.25]	28,072.21]	70,113.68}	56,939.50}	1,16,631.43
b	[Other Income	1,562.92	127.30	28.78	1,690.22	102.28	194.76
	TOTAL INCOME	35,986.35)	35,817.55}	28,100.99)	71,803.90)	57,041.78]	1,16,826.19
Il	EXPENSES
a	{Cost of materials consumed	26,239.27	28,776.10	21,216.46	55,015.37	43,939.99	88,846.68
b	Purchase of Stock in Trade		-	-	-	-	-
c	Changes in inventories of finished goods and	-962.73	-980.5	200.71	-1,943.23	25.45	-747.15
d	Employee benefit expenses	1,435.06	1274.02	1,122.24	2,709.08	2,163.28	4,664.28
e	Finance Cost Depreciation and amortisation expense	1,016.23 566.39	973.35 561.07	831.57 516.16	1,989.58 1,127.46	1,631.52 981.89	3,408.58 2,011.22
f g	Other expenses	4,181.00	3275.51	2,853.68	7,456.51	5,523.57	12,169.66
	TOTAL EXPENSES	32,475.22	33,879.55	26,740.82	66,354.77	54,265.70]	1,10,353.27
Ill	PROFIT BEFORE EXCEPTIONAL ITEMS AND	3,511.13	1,938.00	1,360.17	5,449.13	2,776.08	6,472.92
	Exceptional items			=	-
IV	PROFIT BEFORE TAX	3541413	1,938.00	1,360.17	5,449.13	2,776.08	6,472.92
V	TAX EXPENSES
a	Current Tax	718.69	384.71	307.87	1,103.40	687.44	1576.15
b	Deferred Tax	64.70	78.11	42.41	142.81	62.09	190.19
c VI	Total Tax Expenses PROFIT AFTER TAX (IV-V)	783.39 2,727.74	462.82 1,475.18	350.28 1,009.89	1,246.21 4,202.92	749,53 2,026.55	1766.34 4,706.58
a	Attributable to Owners of the Company	2,682.23	1435.34	983.77	4,117.57	1,977.70	4587.52
	b Attributable to Non-controlling Interest	45.51	39.84	26.12	85.35	48.85	119.06
8	OTHER COMPREHENSIVE INCOME
a	Items that will not be reclassified to profit or	62.32	55.23	-27.89	117:55	10.60	62.25
b	Iltems that will be reclassified to profit orloss	-		-		-
c	Total other Comprehensive Income (Net of	62.32	55.23	-27,89	117.55	10.60	62.25
9	TOTAL COMPREHENSIVE INCOME FOR THE	2,790.06	1,530.41	982.00	4,320.47	2,037.15	4,768.83
	a Attributable to Owners of the Company b Non-controlling Interest	2,744.55 45.51	1490.57 39.84	955.87 26.13	4,235.12 85.35	1,988.30 48.85	4651.30 11753
	10 Share Capital (Equity shares of Rs.10/- each)	1768.27	1768.27	1668.27	1768.27	1668.27	1738.27
11	Reserves and Surplus (Annualized)						45607.87
12	EARNINGS PER SHARE
a	- Basic after exceptional items (in Rs.)	15.43	7.57	5.99	23.90	12.05	27.38

Samichettipalayam, Coimbatore - 64 scat Phone :+ +91 422 4233600 Fax: + +91 422 2692170 E-mail : salzer@salzergroup.com Website : www.salzergroup.co

'

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 11,2024
• 1. The Statutory Auditors of the Company carried out a limited review of consolidated Financial Results for the six months /quarter ended September 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. Previous period's figures have been regrouped/ reclassified wherever necessary to conform to this period's classifications

November 11,2024 MANAGING DIRECTOR

For SALZER, ELECTRONICS LIMITED

sues —F Coimbatore - 641 047 R DORAISWAMY

(DIN: 00003131)

SALZER	ELECTRONICS LTD. CIN : L03210TZ1985PLC001535
			Salaeer
	UN-AUDITED CONSOLIDATED BALANCESHEET AS ON 30/09/2024	RS. IN LAKHS
		As at	As at
Particulars	ASSETS	Sept 30, 2024	Mar 31, 2024
1	Non-current Assets
(a)	Property, Plant and Equipment	26583.29	25329.13
(b)	Right of Use Assets Capital Work in progress	499.72 337:25	497.75
(c)	Investment Property	0.77
(d) (e)	Goodwill Intangible Assets	0.00 1164.34
(f)	Financial Assets
	i, Investments	129.93
	ii. Trade Receivables iii. Others	656.18 330.90
(f)	Other Non-Current Assets	838.00
	Total Non-Current Assets	30,540.38	28,965.20
2 (a)	Current Assets Inventories	33915.96	29348.64
(b)	Financial Assets
	i. Investments ii, Trade Receivables	925.34 38086.03	33350.59
	iii. Cash and Cash equivalents	132.94
	iv. Other Bank balances	1093.40 844.87
	v. Loans vi. Others	294.47
(c)	Other Current Assets Total Current Assets	5096.60 80,389.61	4678.32 70,354.34
	TOTAL ASSETS	1,10,929.99	99,319.54
	EQUITY AND LIABILITIES
l 1	EQUITY
(a)	Equity Share Capital Other Equity	1768.27 50041.73	1738.27 45607.87
(b)	Equity attributable to the Owners of the Company	51,810.00	47,346.15
	Non Controlling interest	746.48
	Total Equity	52,556.48	48,040.64
2	LIABILITIES		'
(1) (a)	Non-current Liabilities Financial Liabilities
	i. Borrowings	1754.64	1298.75
	ii. Lease Liabilities	366.02
(b) (c)	Provisions Deferred tax liabilites (net)	69.26 2605.80	2459.79
(d)	Other Non-Current Liabilities	26.10
	Total Non-current Liabilites	4,821.82	4,248.99
	Current Liabilities
(2)	Financial Liabilities
(a)	i. Borrowings	32954.10	29488.18
	ii. Trade Payables a. Due to Micro & Small Enterprises	773.75	1340.22
		11497.79	9031.72
	b. Due to Others	120.09
	iii, Others	7548.44	6466.14
(b)	Other Current Liabilites
(c) (d)	Provisions Current Tax Liabilities (Net)	267.60 389.92
	Total Current Liabilites TOTAL EQUITY AND LIABILITIES	53,551.69 1,10,929.99	47,029.91 99,319.54

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

At —=T

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 30.09.2024

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

|

C. FINANCING ACTIVITIES:

ELECTRONICS SALZER LTD. CIN : LO3210TZ1985PLC001535			Salzer
C. FINANCING ACTIVITIES:
Proceeds/(Repayment) from Short Term Borrowings Money received against share warrants Increase in Share capital Increase in Share Premium Other Non Current assets Proceeds/(Repayment) from Long Term Borrowings Interest and finance Charges Gain/(Loss) on Foreign Exchange Fluctuations Dividend and dividend tax paid	3406.50 (208.89) 30.00 805.50 0.00 455.89 (1989.58) (31.80) (442.07)	2025.55	1958.21 (557.02) 50.00 1342.50 0.00 (71.43) (1631.52) 24.73 (367.02)	748.45
Net cash from financing activities		2025.55		748.45
Net increase in cash and cash equivalents (A+B+C) Add : Opening Cash and Cash Equivalents Closing Cash balance		19,13 1207.22 1226.35 1226.34		(881.28) 1738.83 857.55 857.55

Swamy & Ravi CHARTERED ACCOUNTANTS 90, Co-Operative "A" Colony, K.K. Pudur, Coimbatore - 641 038. Ph : 0422 - 2446537, 4384536 E-mail : sr_cas2004@yahoo.co.in

Ref. No. : Date : nf 20Qy

CONSOLIDATED LIMITED REVIEW REPORT

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

Review report to 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 September 30, 2024 and for, the period from April 01 2024 to September 30 2024 ("the Statement") attached herewith being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations").
• 2) 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, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

Swamy & Ravi CHARTERED ACCOUNTANTS 90, Co-Operative "A" Colony, K.K. Pudur, Coimbatore - 641 038. Ph : 0422 - 2446537, 4384536 E-mail : sr_cas2004@yahoo.co.in

2024

Ref. No. : Date: vy

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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatements. 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 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.

• 4) The Statement includes the results of the following entities:
• a) Parent Company
  • i. Salzer Electronics Limited
• b) Subsidiaries
  • i. Kaycee Industries Limited
  • ii. Salzer EV Infra Private Limited (Wholly owned subsidiary)
  • iii. Salzer Electronics Arabia Limited (Wholly Owned Overseas Subsidiary) — With effect from September 30,2024
  • iv. Salzer Kostad EV Charges Private Limited
• c) Subsidiary of Salzer EV Infra Private Limited
  • i. Salzer Emarch Electromobility Private Limited (Step-down Subsidiary)

Swamy & Ravi CHARTERED ACCOUNTANTS 90, Co-Operative "A" Colony, K.K. Pudur, Coimbatore - 641 038. Ph : 0422 - 2446537, 4384536 E-mail : sr_cas2004@yahoo.co.in

Ref. No. : Date: Nfijavay

Based on our review and based on the consideration of the review reports of other auditors referred to in Paragraph 6 below,conducted and procedures performed as stated in paragraph 3 above 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.

5) The consolidated Unaudited Financial Results includes the interim financial results of subsidiaries / Step Down Subsidiary Company which have not been reviewed/audited by us, whose interim financial results reflect total revenue of Rs. 71803.90 lakhs, total profit before Tax of Rs. 5449.13 Lakhs, total profit after Tax of Rs. 4202.92 Lakhs and for the Six months period ended 30.09.2024 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 For SWAMY & RAVI —. Chartered Accountants

Place: Coimbatore. Date : November 11,2024 UDIN: 91 299 6655RK BPFOS bb Firm Regn. No : 0043175

S. Alamelu

405-B, Kasthuri Dhama Apartment, 9th Cross, 8th Main, Malleswaran, Bangalore - 560 003. ® O80- 23341957