Sandesh Ltd. — Interim / Quarterly Report 2020

Feb 14, 2020

February 14, 2020

To,

BSE LIMITED, Phiroze Jeejeebhoy Towers, Dalal Street, MUMBAI- 400 001 Script Code : 526725

E·FILING

1. The Manager, 2. The Manager, Listing Department, Corporate Relationship Dept., NATIONAL STOCK EXCHANGE OF INDIA LTD., "Exchange Plaza", C-1, Block-"G", Bandra-Kur1a Complex, Sandra {E), MUMBAJ- 400 051 NSE Symbol : SANDESH (EQ.)

Re.: Outcome of the Board Meeting held on February 14, 2020

Dear Sir I Madam,

This is to inform you that the Board of Directors of the Company at its meeting held today i.e. February 14, 2020, inter alia, has approved the following:

1. Standalone and Consolidated Un-audited Financial Results for the Quarter and nine months ended December 31, 2019:

Pursuant to Regulation 30 and Regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we hereby inform and submtt that:

• a. The Board of Directors of the Company, has considered, approved and taken on record the Standalone and Consolidated Un-Audited Financial Results set out in compliance with Indian Accounting Standards {lnd-AS) for the Quarter and nine months ended on December 31 , 2019.
• b. The copy of the said Standalone and Consolidated Unaudited Financial Results for the Quarter and nine months ended December 31 , 2019 {along with the Limited Review Report of the Statutory Auditors), which were duly reviewed and recommended by the Audit Committee and thereby approved by the Board of Directors, is enclosed herewith.

2. Interim Dividend for the Financial Year 2019·2020, the Record and Payment date:

Pursuant to Regulation 30 and Regulation 42 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we hereby inform and submtt that:

• a. The Board of Directors of the Company have declared an interim dividend @50% i.e. Rs. 5/- per Equity Share of Face Value of Rs. 10/- each of the Company for the Financial Year 2019-20 and that the same shall be paid to the equity shareholders of the Company, whose names appear in the records of the Depositories as beneficial owners of the shares held in electronic form and in the Register of Members of the Company as on Friday, February 28, 2020 {close of business hours), which is the Record Date fixed for the purpose.
• b. The Interim dividend will be paid to the equity shareholders of the Company on Monday, March 9, 2020.

The above information is also available on the website of the Company www.sandesh.com.

The Board meeting commenced at 5:30 p.m. and concluded at 6:20 p.m.

Kindly take the same on your records.

Thanking you,

Yours sincerely, FOR, THE SANDESH LIMITED

Jf.:j~

COMPANY SECRETARY Encl.: As Above

THE SANDESH LIMITED (CIN: L22121GJ1943PLC000183)

REGD. OFFICE: 'SANESH BHAVAN', LAD SOCIETY ROAD, 8/H. VASTRAPUR GAM, P.O. BODAKDEV, AHMEDABAD-380054. TEL.: (079) 40004319, 40004175, FAX: 91-7940004242 Email: secretarial@sandesh.com, cs@sandesh.com VIST US: www.sanesh.com

S G D G & ASSOCIATES LLP

Chartered Accountants

LIMITED REVIEW REPORT ON UNAUDITED STANDALONE QUARTERLY AND YEAR TO DATE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF THE SANDESH LIMITED

• 1. We have reviewed the accompanying statement of Unaudited Standalone Financial Results ("the statement'') of The Sandesh Limited ("the Company") for the quarter and nine months ended December 31, 2019 being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Listing Regulation').
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company'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" (lnd 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.
• 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 Standalone 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. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement.

Place: Ahmedabad Date: February 14, 2020

For S G D G & Associates LLP Chartered Accountants Firm Registration No.: W100188

rv1(

(~~~llGandhi) Partner Membership No.: 129255 UDIN : 20129255AAAABZ5433

S G D G & Associates LLP, a Limited Liability Partnership w ith LLP Identity No. AAI-3248

5-6, Shivalik Plaza. Opp. A.M.A., ATIRA. Polytechnic, Ambawadi, Ahmedabad- 380 015 Contact No. : +91-9974940700, 9820851518 • Email : info@sgdg.co.in

THE SANDESH LIMITED

CIN-L22121GJ1943PLC000183

CHIV-LASTRIPUR GAM, P.O. BODAKDEV, AHMEDABAD – 380 054.(GUJ.)REGD. OFFICE : "SANDESH BHAVAN", LAD SOCIETY ROAD, BODA RAIN, P.O. BODAKDEV, AHMEDABAD – 380 054.(GUJ.)Email: investorsgrievance@sandesh.com, Contact No. (079

STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019

		(Rs. in Lacs, except earning per share data)
		For the Quarter ended			For the Nine Months Ended	For the year ended
	Particulars	Dec 31, 2019	Sept 30, 2019	Dec 31, 2018	Dec 31, 2019	Dec 31, 2018	March 31, 2019
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Revenue From Operations	8 4 8 0 . 8 6	8 3 8 9 . 0 9	9 7 67.75	25 864.90	30 836.62	41 697.47
$\mathbf{H}$	Other Income	541.73	501.15	534.05	1437.23	1 2 8 2 . 7 8	1975.37
Ш	Total Revenue (I + II)	9022.59	8 8 9 0.24	10 301.80	27 302.13	32 119.40	43 672.83
IV	Expenses::
a	Cost of material consumed	3 148.21	3 3 7 4 . 9 6	4 082.06	10 29 2.53	11 715.71	15 618.63
b	Changes in inventories / Cost of goods sold	4.81	5.33	9.19	18.15	2910.94	2921.51
c	Employee Benefits Expense	784.53	817.06	779.64	2 411.98	2 3 8 2 . 2 4	3 3 2 3 . 9 2
$\mathbf{d}$	Finance Cost	14.01	9.76	11.50	33.51	32.27	41.36885.50
e	Depreciation and Amortisation Expenses	191.04	199.84	223.72	600.028 29 2.90	656.768062.52	11 128.55
	Other expenses	2989.79	2 691.79	3 138.20			33 919.47
	Total Expenses	7 132.38	7098.74	8 2 4 4 . 3 1	21 649.09	25 760.44
v	Profit before exceptional items and tax (III - IV)	1890.21	1791.50	2057.49	5 653.04	6358.96	9753.36
VI	Exceptional Items	76.67	(0.08)	(0.03)	79.00	(0.22)	(18.86)
	VII Profit Before Tax (V +VI)	1966.88	1791.42	2057.46	5 732.04	6 358.74	9734.50
	VIII Tax Expenses ::
	Current Tax	398.61	210.00	500.00	1 3 3 8.61	1875.00	2 905.00
ab	Adjustment for Previous year Taxes			9.51		9.51	9.51
$\mathbb{C}$	Deferred Tax	68.98	(174.57)	173.28	(169.31)	280.42	508.64
	Total Tax Expense	467.59	35.43	682.79	1 169.30	2 164.93	3 4 2 3 . 16
IX	Profit for the period (VII - VIII)	1499.29	1755.99	1374.67	4 5 6 2.74	4 193.81	6 311.35
	X Other Comprehensive Income						19.03
	XI Total Comprehensive Income $(IX + X)$ (Comprising Profit and	1499.29	1755.99	1374.67	4562.74	4 193.81	6 330.38
	Other Comprehensive Income for the Period)
		756.94	756.94	756.94	756.94	756.94	756.94
	XII Paid up Equity Share Capital (Face value of Rs. 10/- each)XIII Reserves excluding Revaluation reserves						71 587.52
	XIV Earnings per Equity Share:
	Basic-Rs. Per Share	19.81	23.20	18.16	60.28	55.40	83.38
	Diluted - Rs. Per Share	19.81	23.20	18.16	60.28	55.40	83.38
	NOTES:
	The aforesaid Standalone unaudited financial results were reviewed by the Audit Committee and thereafter approved at the meeting of the Board of Directors held on February 14, 2020. The same has also been subject
$\ddot{1}$	to Limited Review by the Statutory Auditors.
ii	The company has not met the criteria for finance and trading segments as per Ind AS during the nine months ended december 2019 and there is only one reportable segment namely Media. In view of this, the company
	has not given segment information.

iii) The Board of Directors at their meeting held on February 14, 2020, has declared an interim dividend of Rs.5/- per Equity Share.

iv) Figures for the previous periods have been regrouped / re- arranged, wherever considered necessary.

Place: Ahmedabad

$\mathcal{N}$

Date: February 14, 2020

For and on behalf of the Board

Ő ╮ Falgunahai Patel (DIN: 00050174)

The Sandesh Lipwited

Chairman & Managing Director

S G D G & ASSOCIATES LLP

Chartered Accountants

.--------

LIMITED REVIEW REPORT ON UNAUDITED CONSOLIDATED QUARTERLY AND YEAR TO DATE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF THE SANDESH LIMITED

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of The Sandesh Limited ("the Parent") and its subsidiary (the Parent and its subsidiary 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 and nine months ended December 31, 2019 ("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 ('the Listing Regulation'). Attention is drawn to the fact that the consolidated figures for the quarter and nine months ended December 31, 2018, as reported in these consolidated financial results have been approved by the Parent's Board of Directors, but have not been subjected to review.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("lnd AS 34"), prescribed under Section 133 of the Companies Act, 2013; and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity'', issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of Parent's personnel 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 t he circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of following entities:
  • The Sandesh Limited- Holding company
  • Sandesh Digital Private Limited- wholly owned subsidiary company
  • Applewoods Estate Private Limited- associate company
• 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 the other auditor 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 the Listing Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

1. We did not review the financial results and other financial information in respect of a subsidiary included in the consolidated financial results whose financial results reflect total revenue of Rs. 70.35 Lakhs and Rs. 193.85 Lakhs, total net profit after tax of Rs. 20.00 Lakhs and Rs. 58.01 Lakhs, total comprehensive income of Rs. 20.00 Lakhs and Rs. 58.01 Lakhs for the quarter and nine months ended December 31, 2019 respectively as considered in the consolidated unaudited financial results. The consolidated unaudited financial results and other financial information also Include Group's share of net profit after tax of Rs. 85.86 Lakhs and Rs. 136.13 Lakhs and total comprehensive income of Rs. 85.86 Lakhs and Rs. 136.13 lakhs for the quarter and nine months ended December 31, 2019 In respect of an associates whose financial results have not been reviewed by us. These financial results and other financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiary and associate, is based solely on the reports of the other auditors and 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: Ahmedabad Date: February 14, 2020

For S G D G & Assodates LLP Chartered Accountants Firm Registration No.: W100188

Y6r~ Gandhi)

(Devansh Partner

Membership No.: 129255 Ul>IN : 20129255AAAACA7567

THE SANDESH LIMITED CIN-L22121GJ1943PLC000183

REGD. OFFICE : "SANDESH BHAVAN", LAD SOCIETY ROAD, B/H. VASTRAPUR GAM, P.O. BODAKDEV, AHMEDABAD - 380 054.(GUJ.) Email: investorsgrievance@sandesh.com, Contact No. (079) 4000 4000,4000 4319, Fax No. (079) 4000 4242, Website: www.sandesh.com

CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019

		(Rs. in Lacs, except earning per share data)
Particulars		For the Quarter ended			For the Nine Months Ended		For the year ended
		Dec 31, 2019	Sept 30, 2019	Dec 31, 2018	Dec 31, 2019	Dec 31, 2018	March 31, 2019
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Revenue From Operations	8 540.18	8 4 4 3 .8 4	9815.02	26 028.46	30 997.18	41 905.20
H	Other Income	546.18	522.80	538.83	1449.35	1 291.73	1990.94
m	Total Revenue (I + II)	9086.36	8966.64	10 353.85	27 477.81	32 288.91	43 896.14
IV	Expenses::
a	Cost of material consumed	3 148.21	3 3 7 4 9 6	4 082.06	10 29 2.53	11 715.71	15 618.63
b	Changes in inventories / Cost of goods sold	4.81	5.33	9.19	18.15	2910.94	2921.51
c	Employee Benefits Expense	800.16	833.41	793.29	2 458.36	2 4 2 0 . 9 8	3 378.06
d	Finance Cost	14.01	9.76	11.50	33.51	32.27	41.37
e	Depreciation and Amortisation Expenses	191.04	199.84	223.72	600.02	656.76	885.50
	Other expenses	3 005.65	2 707.27	3 153.84	8 3 3 9 .5 8	8 104.28	11 186.81
	Total Expenses	7 163.88	7 130.57	8 273.60	21 742.15	25 840.94	34 031.88
	V Profit before share of profit of Associate, Exceptional itemsand tax (III - IV)	1922.48	1836.07	2 080.25	5735.66	6 447.97	9864.26
	VI Share of Profit of Associate	85.86	11.68	49.16	136.13	88.31	84.02
	VII Profit before Exceptional items and tax (V+VI)	2008.34	1847.75	2 129.41	5871.79	6536.28	9948.28
	VIII Exceptional Items	76.67	(0.08)	(0.03)	79.00	(0.22)	18.86)
IX	Profit before tax (VII+VIII)	2085.01	1847.67	2 129.38	5950.80	6536.06	9929.42
X	Tax Expenses::
a	Income tax	405.70	220.32	504.67	1 3 5 6 9 3	1895.49	2930.45
b	Adjustment for Previous year Taxes			9.51		9.51	9.51
c	Deferred Tax	74.15	(174.57)	175.36	(163.03)	283.45	508.58
	Total Tax	479.85	45.75	689.54	1 193.90	2 188.45	3 448.54
XI	Net Profit for the period (IX-X)	1605.16	1801.92	1439.84	4756.90	4 347.61	6 480.88
	XII Other Comprehensive Income						19.29
	XIII Share in other Comprehensive income of Associate						(0.47)
	XIV Total Other Comprehensive income (XII-XIII)						18.82
XV	Total Income (XI+XIV) (Including Other ComprehensiveIncome )	1605.16	1801.92	1439.84	4756.90	4 3 4 7 .61	6 499.70
	XVI Net profit attributable to
	Owner of the companya)	1605.16	1801.92	1439.84	4756.90	4 347.61	6 480.88
	b)Non Controlling Interest
	XVII Other Comprehensive income attributable to
	Owner of the companya)						18.82
	b)Non Controlling Interest
	(VIII Total Comprehensive income attributable to
	Owner of the company a	1605.16	1801.92	1439.84	4756.90	4 3 4 7 .61	6 499.71
	b Non Controlling Interest
XIX	Paid up Equity Share Capital (Face value of Rs. 10/- each)	756.94	756.94	756.94	756.94	756.94	756.94
XX	Other equity						72 283.03
	XXI Earnings per Equity Share:
	Basic-Rs. Per Share8	21.21	23.81	19.02	62.84	57.44	85.62
	Diluted - Rs. Per Share	21.21	23.81	19.02	62.84	57.44	85.62
	NOTES:
	The aforesaid Consolidated unaudited financial results were reviewed by the Audit Committee and thereafter approved at the meeting of the Board of Directors held on February 14, 2020. The same has also

17 been subject to Limited Review by the Statutory Auditors.

The group has not met the criteria for finance and trading segments as per Ind AS during the nine months ended december 2019 and there is only one reportable segment namely Media. In view of this, the group $\mathrm{ii})$ has not given segment information.

iii) The Board of Directors at their meeting held on February 14, 2020, has declared an interim dividend of Rs.5/- per Equity Share.

IV) Figures for the previous periods have been regrouped / re- arranged, wherever considered necessary.

For and on behalf of the The Sa mite Falgunbhai Patel(DIN: 00050174) Chairman & Managing Director

Place: Ahmedabad Date: February 14, 2020