Sandesh Ltd. — Interim / Quarterly Report 2021

Feb 9, 2021

February 9, 2021

To,

The Manager, $1.$ Corporate Relationship Dept., BSE LIMITED, Phiroze Jeejeebhoy Towers, Dalal Street. MUMBAI-400 001 Script Code: 526725

E-FILING

1. The Manager, Listing Department, NATIONAL STOCK EXCHANGE OF INDIA LTD., "Exchange Plaza", C-1, Block-"G", Bandra-Kurla Complex, Bandra (E), MUMBAI-400 051 NSE Symbol: SANDESH (EQ.)

Outcome of the Board Meeting held on February 9, 2021 Re.:

Dear Sir / Madam.

This is to inform you that the Board of Directors of the Company at its meeting held today i.e. February 9, 2021, inter alia, has approved the following:

1. Standalone and Consolidated Un-audited Financial Results for the Quarter and nine months ended December 31, $2020:$

Pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we hereby inform and submit 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 (Ind-AS) for the Quarter and nine months ended on December 31, 2020.
• b. The copy of the said Standalone and Consolidated Unaudited Financial Results for the Quarter and nine months ended December 31, 2020 (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 2020-2021, 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 submit 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 2020-21 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 19, 2021 (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 1, 2021.

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 6:15 p.m.

Kindly take the same on your records.

Thanking you,

Yours sincerely, FOR, THE SANDESH LIMITED

VAL PANDYA COMPANY SECRETARY Encl.: As Above

THE SANDESH LIMITED (CIN: L22121GJ1943PLC000183) REGD. OFFICE: 'SANESH BHAVAN', LAD SOCIETY ROAD, B/H. VASTRAPUR GAM, P.O. BODAKDEV, AHMEDABAD-380054. TEL.: (079) 40004319, 40004175, FAX: 91-79-40004242 Email: secretarial@sandesh.com, cs@sandesh.com VIST US: www.sanesh.com

SGDG&ASSOCIATESttP Chartered Accountants

INDEPENDENT AUDITOR'S REVIEW REPORT ON THE QUARTERLY AND YEAR TO OATE UNAUDITED STANDATONE FINANCIAL RESUTTS PURSUANT TO REGUTATION 33 OF 5E8l (LlsTlNG OBIIGATIONS AND DISCLOSURE REQUIREMENTS) REGUTATIONS' 2015, AS AMENDED

TO THE BOARD OF DIRECTORS OF THE SANDESH TIMITED

• 1 we have reviewed the accompanying statement of unaudited Standalone Financial Results ("Results") of The sandeshLimited(.,thecompany',)forthequarterandninemonthsendedDecember3l,2020beinssubmitted by the company pursuant to the requirement of Regulation 33 of the sEBl (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Listing Regulations')'
• The preparation of the statement in accordance with the recognition and measurement principles laid down in lndian Accounting Standard 34 "lnterim Financial Reporting" (lnd AS 34), prescribed under Section 133 of the companies Act, 2013 as amended, is the responsibility of the company's Management and has been approved by the Board of Directors. our responsibility is to express conclusion on the statement based on our review' 2
• we conducted our review of the statement in accordance with the standard on Review Engagements (sRE) 2410 ,,Review of lnterim Financial lnformation Performed by the lndependent Auditor of the Entit\y'" issued by the lnstitute of Chartered Accountants of lndia. 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. 3
• 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 lndian Accounting Standards specified under Section 133 of the Companies Act, 2013 read with Rule of the Companies (Accounts) Rules 2014 and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 4

Place: Ahmedabad Date: February 09, 2021

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

'{*r'9 (o6va&tr /andtri)

Partner Membership No.: 129255 uDrN: lll L1L55 AAAAB\ LU25

S G D G & Associates LLP, a Limited Liability Partnership with LLP ldentity No. AAI-3248

5-6, Shivalik Plaza, Opp. A.M.A., ATIRA, Polytechnic, Ambawadi, Ahmedabad- 38O Ol5 Contact No. : +91-9974940700, 9820851518 . Email : info@sgdg.co.in . Website: wwwsgdg.co.in

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

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020

						(Rs. in Lacs, except earning per share data)
Particulars		For the Quarter ended			For the Nine months Ended	For the year ended
		December 31, 2020	September 30, 2020	December 31, 2019	December 31, 2020	December 31, 2019	March 31, 2020
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Revenue From Operations	7798.78	5954.41	8 480.86	18 092.43	25 864.90	34 107.21
	Other Income	2 2 9 2.86	805.85	541.73	4 618.20	1 437.23	1 1 5 1 . 0 9
Ш	Total Revenue (I + II)	10 091.64	6760.26	9 022.59	22 710.63	27 302.13	35 258.30
IV	Expenses::
$\overline{a}$	Cost of material consumed	2 0 3 7 . 1 2	1663.23
$\mathbf b$	Changes in inventories / Cost of goods sold	599.71	5.42	3 148.21	4977.94	10 29 2.53	12 912.74
$\mathsf{C}$	Employee Benefits Expense	707.79	685.68	7.14	606.13	23.20	28.48
$\mathbf d$	Finance Cost	11.13		784.53	1980.49	2411.98	3 263.64
e	Depreciation and Amortisation Expenses	176.22	18.79	14.01	38.39	33.51	41.70
	Other expenses		174.08	191.04	521.23	600.02	785.92
	Total Expenses	2 2 2 6.55	1359.92	2987.45	5 4 6 1.13	8 287.85	10 932.01
		5758.52	3 907.12	7 132.38	13 585.31	21 649.09	27 964.49
v	Profit before exceptional items and tax (III - IV)	4 3 3 3 . 1 2	2853.14	1890.21
VI	Exceptional Items	0.27	4.80		9 125.32	5 653.04	7 293.81
	VII Profit Before Tax $(V + VI)$	4 3 3 3 . 3 9	2857.94	76.671966.88	4.269 129.58	79.005732.04	94.237 388.04
	VIII Tax Expenses ::
$\mathbf{a}$	Current Tax	975.00	622.68	398.61	1757.68	1 3 3 8 . 6 1	2 2 6 3 . 0 1
$\mathbf b$	Deferred Tax	26.33)	35.85	68.98	353.01	(169.31)
	Total Tax Expense	948.67	658.53	467.59	2 110.69	1 169.30	(711.28)1551.73
	IX Profit for the period (VII - VIII)	3 3 8 4 . 7 2	2 199.41	1499.29	7018.89	4 5 6 2.74	5836.31
	X Other Comprehensive Income						5.09
	Total Comprehensive Income (IX + X) (Comprising Profit and
XI	Other Comprehensive Income for the Period)	3 3 8 4 . 7 2	2 199.41	1499.29	7018.89	4 5 6 2.74	5841.40
XIV	XII Paid up Equity Share Capital (Face value of Rs. 10/- each)XIII Reserves excluding Revaluation reservesEarnings per Equity Share:	756.94	756.94	756.94	756.94	756.94	756.9476 972.66
	Basic- Rs. Per Share	44.72	29.06	19.81	92.73
	Diluted - Rs. Per Share	44.72	29.06	19.81	92.73	60.28	77.10
						60.28	77.10

auture the

Notes:-

• i) The above results were reviewed by the Audit Committee and thereafter approved at the meeting of the Board of Directors held on February 09, 2021. The same have also been subject to Limited Review by the Statutory Auditors. There are no qualifications in the report issued by auditors.
• ii) The Board of Directors at their meeting held on February 09, 2021, has declared an interim dividend of Rs.5/- per Equity Share.
• iii) The outbreak of COVID 19 pandemic is causing significant disturbance and slowdown of economic activity. The Company's operation and revenue during the current nine months were impacted due to the COVID -19. The Company further feels that carrying amount of the asset will be recovered.
• iv) In accordance with Ind AS 108, Operating Segments, the company has disclosed the segment information in the consolidated financial statements.
• Figures for the previous periods have been regrouped / re- arranged, wherever considered necessary. $V)$

For and on behalf of the Board

Parthiv Patel (DIN: 00050211) Managing Director

Place: Ahmedabad Date: February 09, 2021 INDEPENDENT AUDITOR'S REVIEW REPORT ON QUARTERTY AND YEAR TO DATE UNAUDITEO CONSOLIDATED FINANCIAL RESULTS PURSUANT TO REGUIATIoN 33 OF SEBI (LISTING OB|IGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED

TO THE BOARD OF DIRECTORS OF THE SANDESH TIMITED

• 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, 2O2O ("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 tisting Regulation'). .
• 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 lndian Accounting Standard 34 "lnterim Financial Reporting" ("lnd AS 34"), prescribed under Section 133 of the Companies Act, 2013; and other accounting principles generally accepted in lndia. Our responsibility is to express a conclusion on the Statement based on our review. 2
• We conducted our review of the Statement in accordance with the Standard on Review Engagements (5RE) 2410 "Review of tnterim Financial lnformation Performed by the lndependent Auditor of the Entity", issued by the lnstitute of Chartered Accountants of lndia. A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accountinB 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 miSht be identified in an audit. Accordingly, we do not express an audit opinion. 3

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBt (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• The Statement includes the results of following entities: 4
  • The Sandesh Limited Holding company
  • Sandesh Digital Private Limited wholly owned subsidiary company
  • Applewoods Estate Private Limited associate company
• 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 lndian Accounting Standard and other accounting principles generally accepted in lndia, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (tisting Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contdins material misstatement. 5 v m

S G D G & Associates LLP, a Llmited Liability Partnership with LLP ldentitv No. AAI-3248

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5-6, Shivalik Plaza, opp. A.M.A., ATIRA, Polytechnic, Ambawadi, Ahmedabad- 38O O15 Contact No. : +91-9974940700, 9820851518 . Email : info@sgd9.co.in ' Website : wwwsgdg.co.in 6. 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. 68.79 Lakhs and Rs. 173.29 Lakhs, total net profit after tax of Rs. 32.57 Lakhs and Rs. 61.51 Lakhs, total comprehensive income of Rs. 32.57 Lakhs and Rs. 61.61 Lakhs for the quarter and nine months ended December 37, 2O2O 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. 656.38 Lakhs and Rs. 1457.68 Lakhs and total comprehensive income of Rs. 656.38 Lakhs and Rs. 1457.68 Lakhs for the quarter and nine months ended December 31, 2020 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 resped of the above matter.

\

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Place: Ahmedabad Date: February 09, 2021

For SG DG & Associates Ll-P Chartered Accountants trm Registration No w100188 )

at't n Partner Membership No.: 129255 ilN' riiiq iss aana az1a51

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, Websit

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020

Particulars		For the Quarter ended			For the Nine months Ended	(Rs. in Lacs, except earning per share data)For the year ended
		December 31, 2020September 30, 2020		December 31, 2019	December 31, 2020	December 31, 2019	March 31, 2020
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Revenue From Operations	7855.30	5996.59	8 540.18	18 233.49	26 028.46	34 321.30
	Other Income	2 2 9 8.83	809.98	546.18	4 634.73	1449.35	1 1 68.39
钥	Total Revenue (I + II)	10 154.13	6806.57	9086.36	22 868.22	27 477.81	35 489.69
IV.	Expenses::
$\ddot{a}$	Cost of material consumed	2037.12	1663.23	3 148.21	4977.94	10 29 2.53	12912.74
b	Changes in inventories / Cost of goods sold	599.71	5.42	7.14	606.13	23.20	28.48
c	Employee Benefits Expense	723.84	702.02	800.16	2027.52	2 458.36	3 3 2 5 .50
d	Finance Cost	11.13	18.79	14.01	38.39	33.51	41.70
	Depreciation and Amortisation Expenses	176.22	174.08	191.04	521.23	600.02	785.92
	Other expenses	2 2 4 2 . 3 7	1 373.68	3 003.32	5 502.01	8 3 3 4 . 5 3	10 994.10
	Total Expenses	5790.39	3937.22	7 163.88	13 673.22	21 742.15	28 088.44
v	Profit before share of profit of Associate, Exceptional itemsand tax (III - IV)	4 3 63.74	2869.35	1922.48	9 195.00	5735.66	7 401.25
VI	Share of Profit of Associate	656.38	310.15	85.86	1457.68	136.13
VII	Profit before Exceptional items and tax (V+VI)	5 020.12	3 179.50	2 008.34	10 652.68	5 871.79	196.907598.15
VIII	Exceptional Items	0.27	4.80	76.67	4.26	79.00	94.23
$\mathbf{I}$	Profit before tax (VII+VIII)	5020.39	3 184.30	2 085.01	10 656.94	5950.80	7692.38
x	Tax Expenses ::
a	Current Tax	986.30	625.88	405.70	1776.48	1 3 5 6 9 3	2 2 8 6.57
$\mathbf b$	Deferred Tax	39.57	36.87	74.15	342.28	(163.03)	(704.17)
	Total Tax Expense	946.73	662.75	479.85	2 118.76	1 193.90	1582.40
XI	Net Profit for the period (IX-X)	4 073.66	2521.55
				1605.16	8538.18	4756.90	6 109.98
XH	Other Comprehensive Income
XIII	Share in other Comprehensive income of Associate						5.00
XIV	Total Other Comprehensive income (XII+XIII)	٠					(0.24)
							4.76
xv	Total Income (XI+XIV) (Including Other Comprehensive	4 073.66
	Income )		2521.55	1605.16	8538.18	4756.90	6 114.74
XVI	Net profit attributable to
	Owner of the companya)
	b)Non Controlling Interest
XVII	Other Comprehensive income attributable to
	Owner of the companya)
	b)Non Controlling Interest
XVIII	Total Comprehensive income attributable to
	Owner of the companya)
	b)Non Controlling Interest
XIX	Paid up Equity Share Capital (Face value of Rs. 10/- each)	756.94	756.94	756.94
XX	Reserves excluding Revaluation reserves				756.94	756.94	756.94
XXI	Earnings per Equity Share:						77 941.50
	Basic- Rs. Per Share	53.82	33.31	21.21
	Diluted - Rs. Per Share	53.82	33.31	21.21	112.80112.80	62.8462.84	80.7220.72

Notes:

i) The above results were reviewed by the Audit Committee and thereafter approved at the meeting of the Board of Directors held on February 09, 2021. The same have also been subject to Limited Review by the Statutory Auditors. There are no qualifications in the report issued by auditors.

ii) The Board of Directors at their meeting held on February 09, 2021, has declared an interim dividend of Rs.5/- per Equity Share.

iii) The outbreak of COVID - 19 pandemic is causing significant disturbance and slowdown of economic activity. The Group's operation and revenue during the current nine months were impacted due to the COVID - 19. The Group further feels that carrying amount of the asset will be recovered.

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

Place: Ahmedabad Date: February 09, 2021

Parthiv Patel Managing Director

For and on behalf of the Board

THE SANDESH LIMITED

UNAUDITED CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020

					(Rs. in Lacs)
	Particulars	For the Quarter ended			For the Nine Months Ended		For the Year Ended
Sr.No.		December 31, 2020Unaudited	September 30, 2020Unaudited	December 31, 2019Unaudited	December 31, 2020Unaudited	December 31, 2019Unaudited	March 31, 2020Audited
	Segment Revenue
	Media	7 084.91	5 493.34	8 578.41	16 390.81	26 161.68	34 063.52
$\mathbf{1}$	Finance	456.94	563.69		1636.83		400.44
	Other	752.06	18.04		763.88
	Unallocated	1860.22	731.50	507.95	4 076.70	1 3 1 6 . 1 3	1025.73
	Total Revenue	10 154.13	6806.57	9 086.36	22 868.22	27 477.81	35 489.69
	Segment Results (Profit before Interest & Tax)
	Media	1906.75	1 586.75	1 505.22	3 390.34
	Finance					4 5 3 2 . 0 2	6 128.10
		455.04	561.79		1630.74		397.37
$\overline{2}$	Other	153.13	12.89		159.67		(0.28)
		2 5 1 4 . 9 2	2 161.43	1 505.22	5 180.75	4 5 3 2 . 0 2	6525.19
	Less: Interest Expense	11.13	18.79	14.01	38.39	33.51	41.70
	Add: Other un-allocable income net off un-allocable expenditure /
	Other un-allocable (expenses) net off income	2 5 1 6 . 6 0	1041.65	593.80	5 5 1 4 .58	1452.29	1 208.89
	Total Profit before Tax	5 020.39	3 184.30	2 085.01	10 656.94	5950.80	7692.38
3	Segment Assets
	Media	26 947.46	26 796.97	23 048.55	26 947.46	23 048.55	20 772.67
	Finance	10 374.50	12748.62		10 374.50		14 500.00
	Other	1880.34	2 479.26	153.30	1880.34	153.30	127.08
	Un-allocated	55 287.24	46 580.21	60 548.31	55 287.24	60 548.31	48 788.95
	Total Assets	94 489.54	88 605.06	83 750.16	94 489.54	83 750.16	84 188.70
$\boldsymbol{\Lambda}$	Segment Liabilities
	Media	6 671.66	4 8 20.02	5 106.52	6 671.66	5 106.52	5 249.98
	Finance
	Other
	Un-allocated	581.26	622.19	846.75	581.26	846.75	240.28
	Total Liabilities	7 252.92	5 442.21	5953.27	7 252.92	5953.27	5 490.26
5	Capital Expenditure	0.82	50.94	2.52	74.24	117.25	165.21
6	Depreciation and Amortisation	176.22	174.08	191.04	521.23	600.02	785.92
	Non Cash Expenses Other than Depreciation and Amortisation	25.49	31.25	27.68	81.77	92.90$\lambda$	143.76

Note: -There are no inter - segment transfers.