Sansera Engineering Limited — Interim / Quarterly Report 2021

Nov 10, 2021

November 10, 2021

The National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G Bandra — Kurla Complex Mumbai 400051 Scrip Symbol: SANSERA

The Department of Corporate Services BSE Limited, P.J. Towers, Dalal Street Mumbai 400001 Scrip Code: 543358

Dear Sir/ Madam

Subject: Outcome of the Board meeting — announcement under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

We would like to inform you that the Board of Directors at its meeting held today i.e., November 10, 2021 which commenced at 2.45 pm (IST) and concluded at 6.30 pm (IST) have pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, approved the unaudited financial results of the Company (both standalone and consolidated) for the quarter and half year ended on September 30, 2021 along with the Limited Review Report (LRR) of the Statutory Auditors of the Company. Copies of the same are enclosed herewith.

The above results will be made available on the website of our Company at www.sansera. in.

Kindly take the same in your record.

Thanking you,

for Sansera Engineering Limited

\ Sue

Rajesh Kumar Modi Company Secretary and Compliance Officer

Encls: a/a

SANSERA ENGINEERING LIMITED

(Formerly Sansera Engineering Pvt Ltd) Reg Off: No. 143/A, Jigani Link Road, Bangalore-560 105, India, Tel: +91 80-27839081/82/83. Fax: +91 80-27839309 E-mail id: info@sansera.in Website: www.sansera.in CIN:U34103KA1981PLC004542

e oitte Prestige Trade Tower, Level 19 =Bengaluru ~ 560 001 aS ins e Ss Karnataka, India

=Chartered Accountants 46, Palace Road, High Grounds

Tel: +91 80 6188 6000 Fax: +91 80 6188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SANSERA ENGINEERING LIMITED

• i, We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Sansera Engineering Limited ("the Company") for the quarter and six months ended September 30, 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• ay 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 the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 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.
• 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 (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company'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 specified under section 143(10) of the Companies Act, 2013 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.
• 1. Based on our review conducted 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 Statement includes the results for the preceding quarter ended June 30, 2021, the quarter and six months ended September 30, 2020 and the cash flow for the six months ended September 30, 2020 which have been prepared by the Company's Management and have not been audited or reviewed by us.

Our conclusion on the Statement is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS Chartered Accountants (Firm's Registration No. 008072S)

TORY Oeh

Monisha Parikh Partner Place: Ahmedabad (Membership No. 47840) Date: November 10, 2021 UDIN:2104.734-OAAAAEV4.51F

SANSERA ENGINEERING LIMITED

CIN: U34103KA1981PLC004542

STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2021

	STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2021		SANSERA ENGINEERING LIMITEDCIN: U34103KA1981PLC004542	Registered Address: Plant-7, No.143/A, Jigani Link Road, Bommasandra Industrial Area, Bengaluru - 560105
				Corresponding 3	Year to date figures	(Amount in Rs. Millions, except for share data, unless otherwise stated)
Sl.	Particulars	3 months ended	Preceding 3 monthsended	months ended in theFiprevious year	for current periodended	Year to date figures forthe previous period ended	Previous year ended
No		30 September 20217Unandited	30 June 2021UnauditedRefer note 5	30 September 2020UnauditedRefer note 5	30 September 2021Unsudited	30 September 2020UnauditedRefer note 5	31 March 2021=
1	Revenue(a) Revenue from Operations	4,796.84	3,350.12	3,877.05	8,146.96	5,017.52	13,513.40
	(b) Other IncomeTotal revenue	22.714,819.55	50.753,400.87	13.653,890.70	73.468,220.42	19.825,037.34	168.4913,681.89
2	Expenses(a) Cost of materials consumed	2,181.74	1,589.63	1,622.00	3,771.37	2,120.93	§,877.12
	(b) Changes in inventories of finished goods and work-in-progress(c ) Conversion charges	(142.95) 164.88	(212.34)116.89	2.08130.67	(355.29)281.77	16:77183.54	(53.86)486.54
	(d) Consumption of stores and spares(e) Power and fuel	396.53199.66	303.71173.71	305.01164.59	700.24373.37	435,92210.49	1,156.25560.04
	(f) Employee benefits expense(g) Finance costs	557.7395.98	510.3498.79	444.1594.40	1,068.07194.77	804.27183.09	1,692.44411.94
	(h) Depreciation and amortization expenses(i) Other expenses.	248.39443,32	240.22358.77	205.04324.33	488.61802.09	421.09481.99	883.451,342.88
	Total Expenses	4,145.28	3,179.72	3,292.27	7,325.00	4,858.09179,25	12,356.801,325.09
34	Profit before tax (1-2)Tax Expense	674.27	221.15	598.43	895.42
	(a) Current Tax	171.42(3.98)	65.85(10.31)	125.8924.73	237.27(14.29)	48.46(3.59)	289.4456.85
	(b) Deferred TaxTotal tax expense	167.44	55.54	150.62	222.98	44.87	346,29
5	Profit for the period (3-4)	506.83	165.61	447.81	672.44	134.38	978.80
6	Other Comprehensive IncomeItems that will not be reclassified to profit or loss(i) Re-measurement of the net defined benefit liability(ii) Income tax relating to items that will not be reclassified to profit/(loss)	2.81(0.70)	(3.08)0.77	--	(0.27)0.07	--	(23.49)5.91
	Total other comprehensive income / (loss)	2.11	(2.31)	-	(0.20).	-	(17.58
7	Total comprehensive income for the period (5+6)	508.94102.76	163,3093.87	447.8193.87	672.24102.76	134.3893.87	961.2293.87
8910)	Paid-up equity share capital (face value of Rs 2 /- each fully paid up)Other equity excluding revaluation reserve as per Balance SheetEarnings per share (EPS) (face value of Re 2 /- each)*		3.22	8.72	13.09	2.62	8,675.51

* Basic and diluted Earnings per share (EPS) for all periods except year ended 31 March 2021 are not annualised

QV

Notes to the Standalone Unaudited Results for the Quarter and Six months Ended 30 September 2021

Standalone Statement of Assets and Liabilities as at 30 September 2021.

	Notes to the Standalone Unaudited Results for the Quarter and Six months Ended 30 September 2021
	Standalone Statement of Assets and Liabilities as at 30 September 2021.
	i:	As at	(Rs. in Millions)Asat
	Particulars	30 September 2021Unaudited	31 March 2021
A	ASSETS		Audited
i	Non-current assets
(a)	Property, Plant and Equipment(b) Capital work-in-progress	9 440.281,078.22	9,352.23344.70
	(c) Intangible assets	477	3.04
(e)	(d) Right-of-use assetFinancial assets	323,73	185.31
	Investments	912.04	994.73
(f)	Other financial assetsTax assets for current taxes (net)	121.619.91	144.839.91
(g)	Other non-current assets	196.89	191.56
	Sub total - Non-current assetsCurrent assets	12,087.45	11,426.31
2(a)	Inventories	2,677.45	2,022.71
	(b) Financial assetsInvestments
	Trade receivables	5.973,269.36	5.582,913.52
	Cash and cash equivalentsBank balances other than cash and cash equivalents	353.68310.07	116.73281.30
	Other financial assets	147.50	204.88
	(c} Other current assetsSub total - Current assets	436.487,200.51	327.015,871.73
	Total - Assets	19,287.96	17,298.04
B	EQUITY AND LIABILITIES
1	EquityEquity share capital	102.76	93.87
(a)(b)	Instruments entirely equity in nature	-	105.00
	(c} Other equitySub-total-Equity	9465.379,568.13	8,675.518,874.38
c	Liabilities
1	Non-current liabilities
(a)	Financial liabilitiesNon-current borrowings	1,614.28	1,787.38
	Lease liabilities	266.65	136.24
	(b) Provisions(c} Deferred tax liabilities (net)	135.31570.96	126.96585.32
(4)	Other non-current liabilities	513.86	467.16
	Sub-total-Non-current liabilitiesCurrent liabilities	3,101.06	3,103.06
2(a)	Financial liabilities
	Current borrowings	4,071.38	3,056.66
	Lease liabilitiesTrade payables	61.73	30.03
	- Total outstanding dues of micro enterprises and small enterprises	80.26	79.12
	- Total outstanding duzs of creditors other than micro enterprises andsmall enterprises	2,060.34	1,716.14
	Others financial liabilities	91.17	177.49
	(b) Other current liabilities(c) Provisions	104.75101.76	145.3895.24
(a)	Current tax liabilities (net)Sub-total-Current liabilities	47,386,618.77	0.54
	Total-Equity and liabilities	19,287.96	§,320.6017,298.04

Xe

\W

1. Standalone Statement of Cash flow for the six months ended 30 September 2021.

	Standalone Statement of Cash flow for the six months ended 30 September 2021.
			(Rs. in Millions)
	Particulars	For the period ended30 September 2021	30 September 2020
		Deanitied	UnauditedRefer note §
	Cash flows from operating activities
	Profit before taxAdjustments to reconcile profit before tax to net cash flow:	$95.42	179.25
	Depreciation and amortisation of non current assetsincome from government grants	488.61(24.58)	421.09x
	Adjustment for Rental consession	(0.48)	a
	Interest IncomeFair value gain on financial instruments at fair value profit or loss	(7.53)(0.39)	(5.66)-
	Gain on Disposal of Property, Plant and Equipment	0.03	-
	Gain on foreign currency transactions, netFinance Costs recognised in profit or loss	19.16194.77	(28.60)183.09
	Employee stock compensation expenseGain or loss on derecognition of lease	21.50(1.02)	-=
	Operating cash flows before working capital changes	1,585.49	T4917
	Working capital adjustments:
	Changes in trade receivablesChanges in other current and non-current assets and current financial assets	GI68H)(79.34)	(904.63)212.36
	Changes in Inventories	(654.74)	110.07
	Changes in trade payables and financial liabilitiesChanges in other liabilities and provisions	339.12(18.20)	579.7351.99
	Cash generated from operationsIncome taxes paid, net	$15.35(190.43)	798.69-
	Net cash generated from operating activities	624.92	798.69
	Cash flows from investing activities
	Payments for property, plant and equipmentPurchase of intangible assets	(1,113.96)G87)	(494.15)
	Proceeds from disposal of property, plant and equipmentProceeds on redemption of investments in subsidiaries	(0.37)101.60	-162.42
	Interest received	7.33	5.66
	Movement in fixed deposit, netNet cash used in investing activities	(28.77)(1,037.04)	(416.90)(742.97)
:	Cash flows from financing activitiesProceeds/(repayment) of non-current borrowings:
	ProceedsRepayment	322.24(494.19)	1,137.09,(476.09)
	Proceeds/(repayment) of current borrowings, net	1,021.99(261.58)	(744.84)
	Interest paidPayment of principal portion of lease liabilities	G01)	(174.97)(2.05)
	Net cash (used in)}/generated from financing activities	638.35	(280.86)
	Net increase/(decrease) in cash and cash equivalents (A+B+C)Cash and cash equivalents at the beginning of the year	226,23116.73	(225.14)383.08
	Effects of exchange gain on restatement of foreign currency cash and cash	07	,
	equivalentsCash and cash equivalents at the end of the period	:383.68	362.94
	For the purpose of statement of cash flows, cash and cash equivalents comprisethe following:
	Cash on handBalance with banks - on current accounts	0.61353.07
	Cash and cash equivalents at the end of the period	333.68

aL

• The Company's equity shares have been listed on National Stock Exchange ("NSE") and on BSE Limited ("BSE") on 24 September 2021, by completing the Initial Public Offering (IPO) of 17,244,328 equity Shares of face value of Rs. 2 each at an issue price of Rs.744 per equity share, consisting of an offer for sale of 17,244,328 equity shares by the selling shareholders.
• These standalone financial results for the quarter and six months ended 30 September 2021 have been prepared in accordance with the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), notified under Section 133 of the Companies Act, 2013 and Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended.
• The standalone financial results for the preceding quarter ended 30 June 2021 and for the quarter and six months ended 30 September 2020 are presented based on information compiled by the management in accordance with Ind AS 34 and have not been subjected to a separate audit or review by the statutory auditors. However, the management has exercised necessary due diligence to ensure that the financial results for these periods provide a true and fair view of the Company's affairs.
• The above standalone financial results of the company were reviewed by the Audit committee and approved by the board of directors at their meeting held on 10 November 2021. The statutory auditors have carried out limited review of the results for the quarter and six months ended 30 September 2021 and have issued an unmodified review report.
• The company in its meeting of the Board of Directors held on 03 September 2021, converted 300,000 Series A Compulsorily Convertible Preference shares and 750,000 Series B Compulsorily Convertible Preference shares into 4,439,900 and 1,450 equity shares respectively for Rs. 2 per equity share.

The above conversion resulted in the paid-up equity capital of the Company being Rs. 102.76 Million represented by 51,377,850 outstanding equity shares.

• The Company operates in only one operating segment, namely manufacture of precision-engineered components.
• The Company has granted 148,625 options to eligible employees at a price of Rs.135.20 per option on 01 April 2021 under ESOP 2015 scheme, which will vest after one year from the date of grant. The same has been disclosed in the offer documents filed with SEBI.

The Company has granted 808,327 options to eligible employees at a price of Rs.744 per option on 22 September 2021 under ESOP 2018 scheme, which will vest over a period of 4 years (25% each year). The same has been disclosed in the offer documents filed with SEBI.

. The Code on Social Security, 2020 ("the Code) which would impact the contributions by the Company towards Provident Fund and Gratuity has received Presidential assent in September 2020. The Code have been published in the Gazette of India. However, the date from which the Code will come into effect has not been notified. The Ministry of Labour and Employment (Ministry) has released draft rules for the Code on 13 November 2020 and has invited suggestions from stake holders which are under active consideration by the Ministry. The Company will complete its evaluation and will give appropriate impact in its standalone financial results in the period in which the Code becomes effective and the related rules are published. '

• 1. Impact of the COVID-19 pandemic: The Company has considered various internal and external sources consisting of feedback from the customers and the market trends, up to the date of approval of the financial results in determining the impact, if any, arising from the pandemic on various elements of its financial results. The Company has used the principles of prudence in applying judgments, estimates and assumptions and based on its current estimates, the Company expects to recover the carrying value of its financial and nonfinancial assets, including tangible assets and meet its financial obligations in the normal course of business. The eventual outcome of the possible impact of the pandemic may be different from that estimated as on the date of approval of these financial results. The Company will continue to monitor any material changes to future economic conditions and consequential impact on its financial results.
• 1. The Investors can visit the company's website www.sansera.in for updated information.
• 1. Previous periods figures have been regrouped/ reclassified wherever necessary, to conform to current period's classification in order to comply with the requirements of the amended Schedule III to the Companies Act, 2013 effective 01 April 2021. Pursuant to such amendments, non-current security deposits of Rs,134.94 million as at 31 March 2021 have been reclassified from 'Loans' to 'Other financial assets' and current maturities of non current borrowings of Rs.1,008.19 million as at 31 March 2021 have been reclassified from "Othey liabilities" to "Current borrowings".

For & on behalf of the Board o

dat Jee

S. Sekhar Vasan Chairman and Managing Director DIN: 00361245

Date: 10 November 2021 Place: Bangalore

Deloitte Chartered Accountants Prestige Trade Tower, Level 19 = 46, Palace Road, High Grounds Haskins & Sells Bengaluru ~ 560 001

Karnataka, India

Tel: +91 80 6188 6000 Fax: +91 80 6188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF SANSERA ENGINEERING LIMITED

• aWe have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Sansera Engineering Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter and six months ended September 30, 2021 ("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.
• 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 the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 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.
• Si 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 (ICAI). 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 specified under Section 143(10) of the Companies Act, 2013 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.
• 1. 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.
• 5: The Statement includes the results of the following entities:
  • a. Sansera Engineering Limited (Parent)
  • b. Fitwel Tools & Forgings Private Limited, a subsidiary
  • c. Sansera Engineering Pvt. Ltd., Mauritius, a subsidiary and
  • d. Sansera Sweden AB, a step-down subsidiary
• 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 auditors referred to in paragraph 7 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.

Deloitte Haskins & Sells

We did not review the interim financial information of 1 subsidiary included in the consolidated unaudited financial results, whose interim financial information reflect total assets of Rs. 1,567.81 million as at September 30, 2021, total revenues of Rs. 366.88 million and Rs. 756.21 million for the quarter and six months ended September 30, 2021, respectively; total net loss after tax of Rs. 14.60 million and Rs. Nil for the quarter and six months ended September 30, 2021, respectively, and total comprehensive loss of Rs. 14.60 million and Rs. Nil for the quarter and six months ended September 30, 2021, respectively and net cash outflows of Rs. 155.65 million for the six months ended September 30, 2021, as considered in the Statement. These interim 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 this subsidiary, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of this matter.

The consolidated unaudited financial results include the interim financial information of 1 subsidiary which has not been reviewed by their auditors, whose interim financial information reflect total assets of Rs. 825.17 million as at September 30, 2021, total revenues of Rs. Nil for the quarter and six months ended September 30, 2021; total net profit after tax of Rs. 0.34 million and Rs. 2.02 million for the quarter and six months ended September 30, 2021, respectively and total comprehensive income of Rs.0.34 million and Rs. 2.02 million for the quarter and six months ended September 30, 2021, respectively and net cash outflows of Rs. 6.51 million for the six months ended September 30, 2021, as considered in the Statement. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

The Statement includes the results for the preceding quarter ended June 30, 2021, the quarter and six months ended September 30, 2020 and the cash flow for the six months ended September 30, 2020 which have been prepared by the Management and have not been audited or reviewed by us.

Our conclusion on the Statement is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS Chartered Accountants (Firm's Registration No. 008072S)

Monisha Parikh Partner Place: Ahmedabad (Membership No. 47840) Date: November 10, 2021 UDIN:2)04-F84-0AAAAEW44IZ

SANSERA ENGINEERING LIMITED

		STATEMENT OF CONSOLIDATED UNAUDITED RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2021		SANSERA ENGINEERING LIMITEDCIN: U34103KA1981PLC004542Registered Address; Plant-7, No.143/A, Jigani Link Read, Bommasandra Industrial Arca, Bengalum - 560105
Sl:No		Particulars	dssoathe ended30 September 20215	Preceding 3 months hi7ended30 June 2021Unaudited	Corresponding 3eadtie saded Ga theprevious year30 September 2020Unaudited	30 September 2021.,	(Amount in Rs. Millions, except for share data, unless otherwise stated)Year to date figures for} Year to date figures forcurrent period ended the previous period ended30 September 2020Unaudited	Previous year endedZ31 March 2021
	1	Revenue(a) Revenue from Operations	Unauditedane5.397.3920.76	Refer note 53,895.3555,65	Refer note 54320.4119.03	teUnaudited9292.7476.41	Refer note 5$.717.0940.34	Audited"15.492.71230.93
	2	(b) Other IncomeTotal incomeExpenses(a) Cost of materials consumed(b) Changes in inventories of finished goods and work-in-progress	5,418.152,432.66(113.84)	3,951.001,855.36(258.15)	4,339.441,916.00(134.58)	9,369.154288.02(371.99)	5,757.432,544.94(1UI74l)	15,723.646,678.31(43.71)
		(¢) Conversion charges(d) Consumption of stores and spares(¢) Power and fuel(f) Employee benefits expense(g) Finance costs	176.8744141232.89675.23112.67287.67	129.28349.87203.54634.52116.25275.31	138.73365.00191.87333.09122,88235,08	306.15791.28436431,309.75228.92562.98	19430535.34239.99975.84223,61480.43	526.151,335.80670.652,137.50473.931,016.76.
	3	(h) Depreciation and amortization expenses(i) Other expensesTotal ExpensesProfit before tax (1-2)	485.404,730.96687.19	392.083,693.06252.94	345.633,713.70625.74	877.488,429.02940.13	519.71$596.75160.68	1466.8014,262.191461.45
	4	Tax Expense(a) Current Tax(b) Deferred TaxTotal tax expense	173.41(3.85)169.56	75.38aL)64.27	131.9025.60157,50	248.79(14.96)!233.83	48.46(8.03)40.43	303.8758.98362.85
	56	Profit for the period (3-4)Other comprehensive income/(expense)tems that will not to be reclassified to profit or lossRe-measurement of the net defined benefit liabilityIncome tax relating to items that will not be reclassed to profit/ (loss)	517.63333(0.84)	188.67(4.41)114	468.24--	706.30(1.08)0.30	120.25--	1,098.60(25.94)6.39
		Net other comprehensive expenses not to be reclassified subsequentlyto profit or loss	2.49	(3.27),	-	(0.78)	-	(19.35)
		tems that will be reclassified subsequently to profit or lossExchange differences on translation of foreign operationsIncome tax relating to items that will be reclassed to profit/(loss)Net other comprehensive income/(expense) to be reclassified	(10.06).2.53(7.53)	(23.03)3.80.(17.23)	22.37(5.63),16.74	(33.09)8.33(24.76)	22.37(5.63)16.74	52.92(13.32))39.60
		subsequently to profit/(less)Other comprehensive (expense)/income for the period, net of incometax	(5.04)512.59	(20.50)168.17	16.74484.98	(25.54)680.76	16.74136.99	20.251,118.85.
		Total comprehensive income for the period (3+6)Profit attributable to :Owners of the CompanyNon-controlling interestsTotal profit for the period	510.906.73$17.63	186.672.00183.67	461.05719468.24	697.578.73706.30	121.78(1.53)120.25	1,079.8618.741,098.60
		Other comprehensive income attributable to:Owners of the CompanyNon-controlling interests	(3.16)O12	(20.21)(0.29)	16.740.00	(25.37) (0.17)	727(0.53)	20.78(0.53)
		Total other comprehensive incomeTotal comprehensive income attributable to:Owners of the CompanyNon-controlling interests	(3.04)505.746.85	(20,50)166.46171	16.74477.79719	(25.54)!672.208.56	16.74139.05(2.06)	20.251,100.6418.21
	a89	Total comprehensive income, net of taxPaid-up cquity share capital (face value of Rs 2 /- each fully paid up)Other equity excluding revaluation reserve as per Balance SheetEamings per share (EPS) (face value of Re 2 /- cach)"	512.59102.76	168.1793.87	484.9893.87	680.76102.76	136.9993.87	1,118.8593.878,583.55

* Basic and diluted Earnings per share (EPS) for all periods except year ended 31 March 2021 are not annualised

Ww

Notes to the Consolidated Unaudited Results for the Quarter and Six months Ended 30 September 2021

1. Consolidated Statement of Assets and Liabilities as at 30 September 2021.

		Notes to the Consolidated Unaudited Results for the Quarter and Six months Ended 30 September 2021
		Consolidated Statement of Assets and Liabilities as at 30 September 2021.		(Rs. in Millions)
			As at	As at
		Particulars	30 September 2021Unaudited	31 March 2021Audited
A		ASSETS
1	(3)	Non-current assetsProperty, Plant and Equipment	10,109.05	10,000.05
	(b)	Capital work-in-progress	1,186.86	604.23
	fc}(d)	GoodwillIntangible assets	359.8918.30	358.3719.17
	(e)	Right-of-use asset	1,016.27	892.35
	(f)	Financial assetsInvestments	36.93_	36.93
		Other financial assets	279.98	298.63
	(g)(h)	Tax assets for current taxes (net)Other non-current assets	27.16237.97	27.14224.70
		Sub total - Non-current assets	13,272.41	12,461.57
		Current assetsInventories	3,176.57	2,485.69
	(a)(b)	Financial assets
		Investments	5.97	5.58
		Trade receivablesCash and cash equivalents	3,517.55448.81	3,129.83365.00
		Bank balances other than cash and cash equivalents	313.94	286.42
	(©)	Other financial assetsOther current assets	169.79467.21	222.81331.93
		Sub total - Current assets	§,099.84	6,827.26
		Total-AssetsEQUITY AND LIABILITIES	21,372.25	19,298.83
B		Equity
	(a)	Equity share capital—_s Instruments entirely equity in nature	102.76	93.87105.00
	(b)(c)	Other equity	-9,373.37	8,593.55
	(d)	Total equity attributable to owners of the companyNon-controlling interests	9,476.13113.55	8,782.42104.99
		Sub Total-Equity	9,589.68	8,887.41
Cc		LiabilitiesNon-current liabilities
	(a)	Financial liabilities
		Non-current borrowingsLease liabilities	1,682.02929.49	1,876.52$10.28
	(b)	Provisions	164.11	151,83
	{ec}(4d)	Deferred tax liabilities (net)Other non-current liabilities	594.43513.86	617.98467.16
		Sub total-Non-current liabilities	3,883.91	3,923.77
		Current liabilities
	(a)	Financial liabilitiesCurrent borrowings	4,712.93	3,606.04
		Lease liabilities	126.39	116.88
		Trade payables- Total outstanding dues of micro enterprises and small enterprises	$1.12	86.39
		- Total outstanding dues of creditors other than micro enterprises
		and small enterprisesOthers financial liabilities	2,524.3691.25	2,184.07182.95
	(b)	Other current liabilities	213.38	207.63
	(c)(dq)	ProvisionsCurrent tax liabilities (net)	101.8447.39	99.100.59
		Sub total-Current liabilities	7,898.66	6,477.65
		Total equity and liabilities	21,372.25	19,288.83

	Consolidated Statement of Cash flow for the six months ended 30 September 2021.
		For the period ended	{Rs. in Millions)
	Paiticulaye		30 September 2021 30 September 2020
		Unaudited	UnauditedRefer nate 5
A	Cash flows from operating activities
	Profit before taxAdjustments to reconcile profit before tax to net cash flows:	940.13	160.68
	Depreciation and amortization expenseInterest income	562.98G.73)	480.43(3.74)
	Fair value loss on financial instruments at fair value through profit or loss	(0.39)	*
	Income from government grantsAdjustment for Rental concession	Q735)(0.48)	-(0.48)
	(Profity loss on sale of property, plant and equipment, net	147	(144)
	Unrealised foreign exchange gain, netEmployee stock compensation expense	38.0721.50	(33.71)-
	Gain or loss on derecogninition of leaseFinance cost	(6.99)228.92	"223.61
		1,756.13	823.35
	Working capital adjustmentsChanges in trade receivables	(388.96)	(1,040.75)
	Other current and non-current assets and current financial assetsChanges in inventory	(122.03)(690.88)	186.8567.38
	Changes in trade payables and financial liabilities	328.80	660.69
	Other liabilities and provisionsCash generated from operations	27.52910.68	88.19785.71
	Income taxes paid, netNet cash generated from operating activities	Q0L97)708.71	-785.71
B	Cash flows from investing activities
	Purchase of property, plant and equipmentPurchase of intangible assets	(1,235.27)G.07)	(345.28)-
	Proceeds from sale of property, plant and equipmentReceipt of government grant	(0.34)2.77	-15.44
	Interest received	1.73	5.74
	Movement in fixed deposit, netNet cash used in investing activities	Q752)(1,255.70)	(414.69)(738.79)
	C Cash flows from financing activities
	Proceeds(repayment) of non-current borrowings:Proceeds	322.24	1,017.82
	RepaymentProceeds/(repayment) of current borrowings, net	(515.59)LAL4.16	(509.94)(573.60)
	Interest paid	(235.73)	(208.68)
	Payment of principal portion of lease liabilitiesNet cash (used in)/generated from financing activities	GLA}653,67	(18.66)(293.06)
	Net increase/(decrease) in cash and cash equivalents (A+B+C)	106.68	(246.14)
	Cash and cash equivalents at the beginning of the year	365.00	600.08
	Effect of exchange differences on translation of foreign currency cash and cash:equivalents	(22.87)	11.34
	Cash and cash equivalents at the end of the period (refer below)	448.81	365.28
	For the purpose of statement of cash flows, cash and cash equivalentscomprise the following:
	Cash on handBalances with banks - on current accounts	0.64448.17	5.95359.33
	Cash and cash equivalents at the end of the period	448.81	365.28

• The Company's ("Parent Company") equity shares have been listed on National Stock Exchange ("NSE") and on BSE Limited ("BSE") on 24 September 2021, by completing the Initial Public Offering (IPO) of 17,244,328 equity Shares of face value of Rs.2 each at an issue price of Rs.744 per equity share, consisting of an offer for sale of 17,244,328 equity shares by the selling shareholders.
• These consolidated financial results of the parent company and its subsidiaries ("the Group"), for the quarter and six months ended 30 September 2021 have been prepared in accordance with the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), notified under Section 133 of the Companies Act, 2013 and Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended.
• The consolidated financial results for the preceding quarter ended 30 June 2021 and for the quarter and six months ended 30 September 2020 are presented based on information compiled by the management in accordance with Ind AS 34 and have not been subjected to a separate audit or review by the statutory auditors. However, the management has exercised necessary due diligence to ensure that the financial results for these periods provide a true and fair view of the Group's affairs.
• The above consolidated financial results of the company were reviewed by the Audit committee and approved by the board of directors at their meeting held on 10 November 2021. The statutory auditors have carried out limited review of the results for the quarter and six months ended 30 September 2021 and have issued an unmodified review report.
• The Parent company in its meeting of the Board of Directors held on 03 September 2021, converted 300,000 Series A Compulsorily Convertible Preference shares and 750,000 Series B Compulsorily Convertible Preference shares into 4,439,900 and 1,450 equity shares respectively for Rs. 2 per equity share.

The above conversion resulted in the paid-up equity capital of the Company being Rs. 102.76 Million represented by 51,377,850 outstanding equity shares.

• The Group operates in only one operating segment, namely manufacture of precision-engineered components.
• The Parent Company has granted 148,625 options to eligible employees at a price of Rs.135.20 per option on 01 April 2021 under ESOP 2015 scheme, which will vest after one year from the date of grant. The same has been disclosed in the offer documents filed with SEBI.

The Parent Company has granted 808,327 options to eligible employees at a price of Rs.744 per option on 22 September 2021 under ESOP 2018 scheme, which will vest over a period of 4 years (25% each year). The same has been disclosed in the offer documents filed with SEBI.

. The Code on Social Security, 2020 ("the Code) which would impact the contributions by the Group towards Provident Fund and Gratuity has received Presidential assent in September 2020. The Code have been published in the Gazette of India. However, the date from which the Code will come into effect has not been notified. The Ministry of Labour and Employment (Ministry) has released draft rules for the Code on 13 November 2020 and has invited suggestions from stake holders which are under active consideration by the Ministry. The Group will complete its evaluation and will give appropriate impact in its consolidated financial results in the period in which the Code becomes effective and the related rules are published.

• . Impact of the COVID-19 pandemic: The Group has considered various internal and external sources consisting of feedback from the customers and the market trends, up to the date of approval of the financial results in determining the impact, if any, arising from the pandemic on various elements of its financial results. The Group has used the principles of prudence in applying judgments, estimates and assumptions and based on its current estimates, the Group expects to recover the carrying value of its financial and non-financial assets, including tangible assets and meet its financial obligations in the normal course of business. The eventual outcome of the possible impact of the pandemic may be different from that estimated as on the date of approval of these financial results. The Group will continue to monitor any material changes to future economic conditions and consequential impact on its financial results.
• 1. Key standalone financial information is given below:

						(Rs. in Millions)
Particulars	3 months ended	Preceding 3months ended	wears cuere: =months ended in"ensth@ previous year	Year to datefigures for'ended	Year to datefigures for thecurrent period previous period year ended:ended	Previous
	30 September 2021		30 June 2021 30 September 2020 30 September 2021 30 September 2020/31 March 2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from Operations	4,796.84	3,350.12	3,877.05	8,146.96	3,017.52	13,513.40
Other Income	22.71	50.75	13.65	73.46	19.82	168.49
Profit before tax	674.27	221.15	598.43	895.42	179.25	1,325.09
Profit after tax	506.83	165.61	447,81	672.44	134.58	978.80

• 1. The Investors can visit the company's website www.sansera.in for updated information.
• 1. Previous periods figures have been regrouped/ reclassified wherever necessary, to conform to current period's classification in order to comply with the requirements of the amended Schedule III to the Companies Act, 2013 effective 01 April 2021. Pursuant to such amendments, non-current security deposits of Rs.284.54 million as at 31 March 2021 have been reclassified from 'Loans' to 'Other financial assets' an current maturities of non- current "Current bortowings" ?

For & on behalf of the Board of

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6S. Sekhar Vasan Chairman and Managing Director DIN: 00361245

Date: 10 November 2021 Place: Bangalore

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