Salzer Electronics Ltd. — Interim / Quarterly Report 2024

Feb 8, 2024

CIN : LO3210TZ1985PLC001535

To

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

THE CORPORATE RELATIONSHIP DEPT M/s. NATIONAL STOCK EXCHANGE OF INDIA LTD.,

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. 28.12.2023

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 08, 2024) considered and approved inter-alia the following:

• ¥ Standalone Unaudited Financial Results of the Company for the Third Quarter / Nine months ended 31.12.2023 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 Third Quarter / Nine months ended 31.12.2023 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.

A copy 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 I « AD p.m

The above is for information and dissemination.

Thanking you,

For SALZER ELECTRONIGS LIMITED

COMPANY SECRETARY &

COMPLIANCE OFFICER

Encl : As above

SALZER	ELECTRONICS
						Salzer
			LTD.
	CIN : L03210TZ1985PLC001535
	Standalone Statement of Un-Audited Financial Results for the Third Quarter and Nine Months period ended December 31, 2023
						(Rs. In Lacs exept for Earning Per Share)
	S.No Particulars		Quarter ended		Nine Months ended		Year Ended
		31/12/2023)	30-09-2023 31-12-2022		31/12/2023	31-12-2022	31-03-2023
				Un-Audited Un-Audited Un-Audited Un-Audited Un-Audited			Audited
1)	JINCOME
a b	Revenue From Operations Other Income	26,245.77 53.42	27,368.47 40.37	23,994.68 47.56	81,800.27 152.10	71,796.28 118.23	1,01,316.68 137.26
	Total Income	26,299.19	27,408.84	24,042.24	81,952.37	71,914.51	1,01,453.94
2	EXPENSES
a	Cost of materials consumed	20,383.16	20,890.63	18,840.08	63,754.55	58,107.95	81,827.82
b	Purchase of stock-in-trade Changes in inventories of finished	-	-	=		-
c	goods, work-in-progress and stock-in-	(885.02)	261.85	(457.97)	(811.16)	(1,937.44)	(1,964.41)
d_	trade Employee benefit expenses	1,059.70	1,014.61	858.85	3,008.78	2,524.96	3,514.73
e	Finance Cost	860.66	821.17	666.18	2,470.84	1,840.44	2,605.69
p	Pepreciation anc-amortisation expense	461,05	489,71	407.34]	1,390.78]	—-1,203.26	1,611.38
g	Other expenses	2,747.79	2,674.20	2,379.42	7,920.04	6,316.52	8,824.47
	TOTAL EXPENSES	24,627.34	26,152.17	22,693.90	77,733.83	68,055.69	96,419.68
3	TONAL ITEMS POET BECCRREKCer Tie	1,671.85	1,256.67	1,348.34	4,218.54	3,858.82	5,034.26
4	AND TAX (1-2) EXCEPTIONAL ITEMS	-		-	-	-
5	PROFIT BEFORE TAX	1,671.85	1,256.67	1,348.34	4,218.54	3,858.82	5,034.26
	TAX EXPENSE
6	Current Tax	387.33	274.74	294.12	1,009.96	900.89	1,140.47
a	Deferred Tax	41.62	43.84	86.95	97.84	217.36
b		428.95	318.58	381.07	1,107.80	171825	1,398.07
	Total tax expense	1,242.90	938.09	967.27	3,110.74	2,740.57	3,636.19
7	PROFIT AFTER TAX (5-6)
8	OTHER COMPREHENSIVE INCOME
gg	(PANN lassified t ERIE ill IEE rR profit or loss	85.97	(27.89)	30.50	96.57	76.00	(15.93)
b	Items that will be reclassified to					"
	profit or loss Total Other Comprehensive Incom
	el p (Loss) (net of tax)	85.97	(27.89)	30.50	96.57	76.00	(15.93)
9	TOTAL COMEREMERSIVE INCOME FOR THE PERIOD (7+8)	1,328.87 - *	910.20 *	997.77 :	3,207.31 " '	2,816.57 ' :	3,62 1620.26
	share capital - SHG Ig eer Paid up a9 Pa sh ity ue Bet	1,738.27	1,668.27	1,598.27	1,738.27	1,598.27
	of Rs.10/- each						1,618.27
11	Reserves and Surplus 12 Earning per share ( of Rs.10/- each)	é	-	-	-	-	38,671.12

Samichettipalayam, Coimbatore - 641 0475 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 by the Audit Committee on February 08, 2024 and approved by the Board of Directors in their meeting held on February 08, 2024,
• 1. 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, 2023,
• 1. During the third quarter,
• » The Company allotted 7,00,000 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.16,68,27,370 comprising of 1,66,82,737 equity shares of Rs.10/- each to Rs.17,38,27,370 comprising of 1,73,82,737 equity shares of Rs.10/- each and
• » The Company subscribed 2,90,000 equity shares of Rs.10/- each for total value of Rs.29,00,000/- in Salzer Kostad EV Charges Private Limited. Post this subscription, the shareholding has increased from 43.44% to 59.61% resulting it in becoming a subsidiary of the Company within the meaning of Section 2 (87) under Companies Act, 2013.
• 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

For SALZER ELECTRONICS LIMITED

Coimbatore - 641 047. Re D RAJESHKUMAR February 08, 2024 JOINT MANAGING DIERCTOR & CHIEF FINANCIAL OFFICER (DIN:00003126)

Samichettipalayam, Coimbatore - 641 047, India. V4 Phone : + + 91 422 4233600 Fax : + +91 422 2692170 ISO 9001 ; . CTTTTTELN Pete E-mail : salzer@salzergroup.com Website : www.salzergroup.com

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, 2023.

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, 2023 and year to date results for the period April 01, 2023 to December 31, 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 February 08, 2024 and has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") prescribed under Section 133 of the Companies Act 2013 and other Accounting Principles generally accepted in India, and which has been initialled by us for identification purposes. Our responsibility is to express a conclusion on the statement based on our review
• 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.

254, Gandhiji Road 1st Floor, Jewel Complex 8/36, LRG Lay-out, Sth Street | 7-4, Sri Nagar, Behind Sungam 254, Gandhiji Road ERODE - 638 001. 642 (Old # 324) Raja Street | ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 004. Tel -(0424-2269599 COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel - 0424-2269599 oO Tel : 0422 - 2304731, 2390882 Tel : 0421 - 4322843 Tel : 0422 - 2312899 silhcadiinat Cell : 98427 27344 Cell : 99444 57928 Cell : 98942 88807 Cell : 98430 80753 Cell : 98844 28681

BSco FGA: B.Com., F.C.A., D.I.S.A., M.Com., F.C.A., D.I.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

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

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

J DS ASSOCIATES CHARTERED ACCOUNTANTS

the applicable Indian Accounting §S Companies Act , 2013 and other rec disclosed the information required to (Listing Obligations and Disclosure manner in which it is to be disclosed, ^o ognized accounting Practices and policies has not be disclosed in terms of Regulation 33 of the SEBI Requirements) Regulations, 2015 including the r that it contains any material misstatement.

Date : February 08, 2024 Place : Coimbatore UDIN: QHOZK3A 6 IBKRODL 797 7

For JDS ASSOCIATES Chartered Accountants FRN :008735S5

—\$rmre

(B.JAYARAM) Partner Memb.No : 028346

T. SAMINATHAN B. JAYARAM Membership No. 027133 | Membership No, 028346

B.Se,, F:CA,; B.Com., F.C.A., D.I.S.A.,

254, Gandhiji Road 1st Floor, Jewel Complex ERODE - 638 001. 642 (Old # 324) Raja Street . COIMBATORE - 641 001. Lahiaserbineessiin Tel : 0422 - 2304731, 2390882 Cell : 98427 27344 Cell : 99444 57928 E : casaminathan@yahoo.co.in| E : bjayaramca@yahoo.co.in

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: kplatha1995@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 E : kssathishkumar@yahoo.co.in

SALZER ELECTRONICS LTD. ———— | ad —|

SALZER	ELECTRONICS
			LTD.			————	ad —
	CIN : L03210TZ1985PLC001535
			Consolidated Statement of Un-Audited Financial Results for the Third Quarter and Nine Months period ended December 31, 2023
					(Rs. In Lacs except for Earning per share)
	Particulars		Quarter Ended		Nine months ended		Year Ended
					31-12-2023 30-09-2023 31-12-2022 31-12-2023 31-12-2022 31-03-2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)		(Audited)
;	ie From Operations	27,034.91	28,072.21	24,559.77	83,974.40	73,435.64	1,03,717.24
b	Other Income TOTAL INCOME	67.40 27,102.31	28.78	62.32	169.70	137,29	170.10
2	EXPENSES		28,100.99	24,622.09		84,144.10) = 73,572.93	1,03,887.34
a	Cost of materials consumed	20,669.16	21,216.46	19,033.08	64,609.15	58,685.89	82,694.88
b	Purchase of Stock-in-Trade	:	-		"
c	Changes in inventories of finished goods,	(841.36)	200.71	(464.68)	(815.92)	(2,006.66)	(1,978.92)
d	work-in-progress and stock-in-trade Employee benefit expenses	1,173.72	1,122.24	969.45
e	Finance Cost	871.00	831.57	666.85	3,337.00 2,502.51	2,858.52 1,843.38	3,936.54 2,611.89
f	Depreciation and amortisation expense	487.67	516.16	415.56	1,469.56	1,226.98	1,660.37
g	Other expenses	2,931.09	2,853.68	2,531.89	8,454.66	6,774.98	9,474.56
	TOTAL EXPENSES	25,291.28	26,740.82	23,152.15	79,556.96]	69,383.09	98,399.32
3	PROFIT BEFORE EXCEPTIONAL ITEMS AND	1,811.03	1,360.17)	1,469.94	4,587.14	4,189.84	5,488.02
4	TAX (1-2) EXCEPTIONAL ITEMS	-	-	1.52	-	1.52	1.52
5	PROFIT BEFORE TAX	1,811.03	1,360.17	1,471.46	4,587.14	4,191.36)	5,489.54
6	TAX EXPENSES
a)	Current Tax	427.14	307.87	326.70	1,114.59	992.70	1,262.68
b)	Deferred Tax	35.75	42,41	92.41	97.83	221.55	265.00
	Total Tax expense	462.89	350.28	419.11	1,212.42	1,214.25	1,527.68
7	PROFIT AFTER TAX (5-6)	1,348.14	1,009.89	1,052.35	3,374.72	2,977.11	3,961.86
a	Attributable to ; Owners of the Company	1,320.25	983.77	1,031.00	3,297.31	2,911.80	3,870.50
	b Non-controlling Interest	27.89	26.12	21,35	7741	65.31	91.36
8	OTHER COMPREHENSIVE INCOME
a	[Items that will not be reclassified to profit or loss	85.96	(27.89)	30.83	96.56.	76.33	(13.39)
b	{Items that will be reclassified to profit or loss	-	-	-	*	7
	Total Other Comprehensive Income/ (Loss) (net of tax)	85.96	(27.89)	30.83	96.56	76.33	(13.39)
9	TOTAL COMPREHENSIVE INCOME FOR	1,434.10	982.00	1,083.18	3,471.28	3,053.44	3,948.47
	THE PERIOD (7+8) a Attributable to : Owners of the Company	1,406.22	955.87	1,061.84	3,393.87	2,988.13	3,860.16
	b Non-controlling Interest	27.88	26,13	21.34	77.41	65.31	88.31
	10 Share Capital (Equity shares of Rs.10/- each)	1,738.27	1,668.27	1,598.27	1,738.27	1,598.27	1,618.27
	11 Reserves and Surplus (Annualized)						39,152.82
	12 EARNINGS PER SHARE
	- Basic after exceptional items (in Rs.) - Diluted after exceptional items (in Rs.)	7,98	5.99	6.45	19.22	18.22	24.21
a
b		7.47	5.56	6.42	18.67	18.12

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 08, 2024 and upon which, approved by the Board of Directors in their meeting held on February 08, 2024,
• 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 31,2023,
• 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

For SALZER ELECTRONICS LIMITED

Coimbatore - 641 047 February 08, 2024 D RAJESHKUMAR

JOINT MANAGING DIRECTOR (DIN: 00003126)

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

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, 2023.

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, 2023 and year to date results for the period from April 01, 2023 to December 31, 2023 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 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 08, 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 "
• 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.

T. SAMINATHAN AB. JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR B.Sc., F.C.A., B.Com., F.C.A., D.LS.A., M.Com., F.C.A., D.LS.A., M.Com., F.C.A., M.Com., F.C.A., 254, Gandhiji Road 1st Floor, Jewel Complex rca 'one sth ie 7-A, Sri Nagar, Behind Sungam 254, Gandhiji Road ERODE - 638 001. 642 (Old # 324) Raja Street 0ad, Karuvampalayam Ramanathapuram ERODE - 638 001.

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

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 es 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 | © : kplatha1995@gmail.com E : jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

J DS ASSOCIATES CHARTERED ACCOUNTANTS

4. Parent Company and its subsidiaries:

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 which have not been reviewed/audited by us, whose interim financial results reflect total revenue of Rs.3533.80 Lakhs, total profit before Tax of Rs.396.71 Lakhs, total profit after Tax of Rs.292.08 Lakhs and total comprehensive income of Rs.292.08 Lakhs for the Nine months period ended December 31,2023 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.

Date: February 08, 2024 For JDS ASSOCIATES Place : Coimbatore Chartered Accountants UDIN: aA 02k 246 BKRODM \S9Lp FRN :008735S

(BJAYARAM) Partner Memb.No : 028346

254, Gandhiji Road 1st Floor, Jewel Complex 8/36, LRG Te sth he 7-A, Sri Nagar, Behind Sungam 254, Gandhiji Road : 642 (Old # 324) Raja Street | ABT Road, Karuvampalayam Ramanathapuram ERODE - 638 001. Snehe pomide COIMBATORE - 641 001. TIRUPUR - 641 604 COIMBATORE - 641 045 Tel: 0424-2269599 Tel :0424-2268599 | 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

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

E : casaminathan@yahoo.co.in| E :bjayaramca@yahoo.co.in | §: kplathai¢95@gmail.com E: jfrankca@gmail.com E : kssathishkumar@yahoo.co.in

T. SAMINATHAN . JAYARAM K.P. LATHA J. FRANKLIN DAVID | K.S. SATHISHKUMAR Membership No. 027133 | Membership No. 028346 Membership No. 208150 Membership No. 208792 Membership No. 234722