BSE Limited April 22, 2021 Dept. of Corporate Services - CRD Pheeroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

National Stock Exchange of India Limited Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East) Mumbai – 400 051 By web upload

Dear Sirs,

Sub: Outcome of the Board Meeting held today from 2.00 pm to 8.00 pm Ref: Scrip Code 532663 / SASKEN

1. Financials

We are enclosing herewith the audited financial results (both consolidated and standalone) of the Company for the quarter and year ended March 31, 2021 as taken on record at the Board Meeting held today.

Please also find enclosed a copy of each of the following documents:

Auditor's Report on (a) standalone and (b) consolidated financial results as per Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
Media release being issued on this occasion.
Communication to Analysts on Sasken's Business Performance.

As provided under Regulation 47(1) (b) of SEBI Listing Regulations, we will be publishing the extract of the audited consolidated financial results in the newspapers. The full format of the Financial Results will be made available on the Company's website (www.sasken.com). We will be uploading the Financial Results on the Stock Exchanges website: BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com).

Other decisions / recommendations of the Board:

2. Dividend

A final dividend of Rs.15 per equity share of Rs.10 each for the year ended March 31, 2021, subject to approval of shareholders at the forthcoming Annual General Meeting. It may be noted that the Board had earlier declared an Interim Dividend of Rs.10 per equity share (100%) in October 2020.

3. Re-appointment of Independent Director for a term of up to 5 years

Re-appointment of Mr. Sunirmal Talukdar, one of the independent directors of the Company, for another term of up to 5 years for the approval of shareholders at the forthcoming Annual General Meeting.

4. Appointment of Independent Director of the Company

Appointment of Dr. G Venkatesh, one of the non-executive directors of the Company, as an Independent Director of the Company for a term of up to 5 years for the approval of shareholders at the forthcoming Annual General Meeting.

5. Appointment of Auditors of the Company

Appointment of M/s. MSKA & Associates, Chartered Accountants (ICAI Firm Registration No. 105047W), as Statutory Auditors of the Company for a period of up to 5 years for the approval of the shareholders at the forthcoming Annual General Meeting.

6. Appointment of Company Secretary and Compliance Officer

The undersigned will be retiring from the services of the Company effective July 31, 2021. Consequently, the Board has approved the appointment of Mr. Paawan Bhargava (ACS 26587) as a Company Secretary and Compliance Officer of the Company effective August 1, 2021.

Kindly take the same on record and disseminate this information to the public.

Thanking you,

Yours faithfully, For Sasken Technologies Limited

S. Prasad Associate Vice President & Company Secretary

Encl.: as above

SV Tower, No. 27, Floor 4 80 Feet Road, 6th Block, Koramangala Bengaturu 560095, INDIA Tel: +91 80 6811 1600

Independent Auditor's Report on Quarterly Consolidated Financial Results and Year to Date Consolidated Financial Results pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

To the Board of Directors of Sasken Technologies Limited

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of Sasken Technologies Limited (hereinafter referred to as the 'Holding Company') and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group"), for the quarter and year ended March 31, 2021, ('the Statement') attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Statement:

							.) include the annual financial results of the following entities.
--	--	--	--	--	--	--	--------------------------------------------------------------------	--

Sr.No	Name of the Entity	Relationship with the HoldingCompany
	Sasken Communication Technologies (Shanghai).Co Ltd ('Sasken China')	Subsidiary
$\overline{2}$	Sasken Communciation Technologies Mexico S.A.de C.V ('Sasken Mexico')	Subsidiary
3	Sasken Finland Oy ('Sasken Finland')	Subsidiary
$\ddot{4}$	Sasken Inc ('Sasken USA')	Subsidiary
5	Sasken Foundation	Controlled trust
6	Sasken Employees Welfare Trust	Controlled trust

(ii) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

(iii) give a true and fair view in conformity with the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Group for the quarter and year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the consolidated financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.

We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Board of Directors' Responsibilities for the Consolidated Financial Results

This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of this Statement that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015, as amended and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the Statement, including the $\bullet$ disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial results of the entities within the Group to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement of which we are the independent auditors. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular issued by SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent possible.

Other Matters

1. The Statement include the results of the Group for the quarter and year ended March 31. 2021, which were audited by another auditor whose report dated April 27, 2020, expressed an unmodified opinion on those statements.
ii. The Statement include the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting"

Our Opinion is not modified in respect of these matters.

For MSKA & Associates Chartered Accountants ICAI Firm Registration No. 105047W

.I grafy dyned by JERASHIS CANAUP IAI fo de Di te Presional, postal Guiter Villesco. DEBASHIS

Debashis Dasgupta Partner Membership No. 053681 UDIN: 21053681AAAAAF7130

Place: Bengaluru Date: April 22, 2021 AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021.

(Rs. in lakhs)

(Rs. in lakhs)						(Rs. in lakhs)
SI, No.			Quarter ended		Year ended
	Particulars	March 31.2021	December 31.2020	March 31,2020	March 31.2021	March 31.2020
	Revenue from operations	11,060.57	11,388.91	11,285.25	44,483.52	49,222.22
Ш	Other income	584.92	1,017.03	(267.05)	2,961.67	3,574.89
Ш	Total income (I+II)	11,645.49	12,405,94	11,018,20	47,445.19	52,797.11
M	EXPENSES
	Employee benefits expense	6,366.26	6,621.54	7,421.70	26,459.71	32,166.65
	Finance costs	33.43	0.96	16.54	46.77	70.50
	Depreciation and amortization expense	214.92	230.50	293.83	1.018.22	1,115.87
	Other expenses	1,095.24	1.268.58	1,663.70	4,971.24	8,247.50
	Total expenses (IV)	7,709,85	8,121.58	9.395.77	32,495.94	41,600.52
ν.	Profit before tax (III-IV)	3,935.64	4,284.36	1.622.43	14,949.25	11, 196.59
νī	Tax expense:	1,026.81	894,08	677.54	3,494.61	3,313.84
	(1) Current tax	946.64	776.46	1,172,09	3,229.89	$-3,867.47$
	(2) Deferred tax	80.17	117,62	(494, 55)	264.72	(553.63)
VII	Profit after tax (V-VI)	2,908.83	3,390.28	944.89	11,454.64	7,882.75
VIII	Other comprehensive income	(2,054.69)	175.00	(1, 242.93)	(1,036.49)	(1, 972, 27)
	A Items that will not be subsequently reclassified to profit or loss-(1)Remeasurement gain on defined benefit plans	182.69	(111.44)	(927.53)	139.11	(1,073.52)
	(ii) Fair value through investments OCI	(2, 176.17)	37,05	Ă	(2, 137.59)
	(iii) Income tax relating to items that will not be subsequently reclassified toprofit or loss	(5.16)	23.31	228.45	$1.39 -$	279.46
	B Items that will be subsequently reclassified to profit or loss-(i) Netchange in fair value of forward contracts designated as cash flows hedges	9.32	272.19	(1,035,58)	1,377.90	(1, 820, 15)
	(ii) Exchange differences in translating financial statements of foreignloperations	(64.41)	21.78	212.93	(68.64)	89.11
	(iii) Income tax relating to items that will be reclassified to profit or loss	(0, 96)	(68.39)	278.80	(348.66)	552.81
JX.	Total comprehensive income for the period (VII+VIII) (comprising profit andother comprehensive income for the period)	854.14	3,565.28	(298.04)	10,418.15	5,910.48
x	Paid up equity share capital (face value: Rs 10 per share)	1,505.09	1,505.09	1,505,09	1,505,09	1,505.09
xı	Other equity				54,949.84	46,040,84
XII.	Earnings per equity share
	(1) Basic	19.37	22.57	6,29	76.26	48,57
	(2) Diluted	19:37	22.57	6.29	76:26	48.57

Sasken Technologies LimitedCIN: L72100KA1989PLC014226

139/25, Ring Road, Domlur, Bengaluru - 560 071

AUDITED CONSOLIDATED BALANCE SHEET AS AT MARCH 31, 2021

		(Rs. in lakhs)
Particulars.	As at March 31, 2021	Ás at March 31, 2020.

ASSETS
(1) Non-current assets
Property, plant and equipment	3,374.35	4,435.55
Capital work-in-progress	0.72	11.15
Intangible assets	18.19	9.70
Financial assets
(i) Investments	34, 167, 64	23,294.07
(ii) Other financial assets	136.07	314.49
Deferred tax assets (net)	589.14	1,201.13
Other tax assets	4,150.57	5,864.37
Other non-current assets	0.56
Total non-current assets	42.437.24	35,130.46
(2) Current assets
Financial assets
(i) investments	7,069.13	10,673.55
(ii) Trade receivables	6,659.92	9,319.85
(iii) Cash and cash equivalents	2,075.61	1,613,37
(iv) Other bank balances	3,209.63	211.72
(v) Unbilled revenue.	1,698.36	1,667.14
(vi) Derivative assets	495.15
(vii) Other financial assets	589.35	420.84
Contract assets	1,974.27	2,319.07
Other current assets	651.48	943.77
Total current assets	24,422.90	27,169.31
Total assets	66,860.14	62,299.77
EQUITY AND LIABILITIES
Equity
Share capital	1,505.09	1.505.09
Other equity	54,949.84	46,040.84
Total equity	56,454.93	47,545.93
LIABILITIES
(1) Non-current liabilities
Lease liabilities		379.17
Provisions	626.81	1,299.68
Total non-current liabilities	626.81	1.678.85
(2) Current liabilities
Financial liabilities
(i) Trade payables
Outstanding dues to micro and small enterprises	3.75	1.57
Outstanding dues to creditors other than micro and small enterprises	1,382.44	1,726.20
(ii) Lease liabilities
(iii) Other financial liabilities	2,363.16	2,069.24
(iv) Derivative liabilities		890.17
Deferred revenue	192,04	594.48
Other current liabilities	2,111,30	1,881.72
Provisions.	1,594.80	1,600.27
Income tax liabilities (net)	2,230.91	4,311,34
Total current liabilities	9,778.40	13,074.99
Total equity and liabilities	66,860.14	62,299.77

Sasken Technologies LimitedAudited Consolidated statement of cash flows for the year ended March 31, 2021.(Amount in lakhs, except share and per share data, unless otherwise stated)

	For the year endedMarch 31, 2021	For the year endedMarch 31, 2020
Cash flows from operating activities.
Profit before tax	14,949.25	11,196.59
Adjustments for:
Depreciation and amortization expense	1,018.22	1,115.87
Dividend income	(169.00)	(1,031.17)
Interest income	(526.45)	(939.72)
Interest on NCD	(24, 58)
Gain on sale of investments	(217.59)	(102.13)
Change in fair value of investments	(2, 126.68)	(186, 97)
(Profit) / Loss on sale of property, plant and equipment	14.13	(7.71)
ESOP compensation cost	(21, 59)	10.71
Exchange differences on translation of assets and liabilities.	40.81	291,70
Finance charges	46.77
Allowance for expected credit losses on financial assets.	18.69
Write back of unclaimed balances	(89.57)	(131.31)
Cash flow hedges - in-effective portion of changes in fair value	(7, 41)	$10,88$ :
Operating profit before working capital changes	12,905.00	10,226.74
Changes in assets and liabilities:
Trade receivables, unbilled revenue & contract assets	2,954.80.	154.28
Other financial assets and other assets	(1,606.81)	(612.31)
Trade payables and deferred revenue	(738, 35)	107.52
Provisions, other financial liabilities and other liabilities	(15, 73)	785.30
Cash generated from operating activities.	13,498.91	10,661.53
Income taxes (paid)/Refund	(1,568.71)	539.45
Net cash generated from operating activities (A)	11,930.20	11,200.98
Cash flows from investing activities
Interest received	374.10	416.96
Interest on NCD	24,58
Dividends received	169.00	930,27
Proceeds from sale of property, plant and equipment	40.19.	$-7.71$
Acquisition of property, plant and equipment	(209.31)	(1,530.74)
Payments to acquire investments	(30, 975, 44)	(49, 183.58)
Proceeds from sale of investments	23,912.98	66,611,27
Investment in bank deposits	(2,997.90)	63.71
Net cash Used in investing activities (B)	(9,661.80)	17,315,60
Cash flows from financing activities
Dividend paid during the year (including dividend distribution tax)	(1,501.62)	$(11, 405.65)$ .
Lease liabilities.	(209.13)
Shares sold by trust / brought back in the previous year.	14,06	(16,767.72)
Net cash used in financing activities (C)	${1,696,69}$	(28, 173, 37)

Net increase /(decrease) in cash and cash equivalents (A+B+C)Cash and cash equivalents at the beginning of the year	571.71	343.21
Effect of exchange rate changes on cash and cash equivalents	1,613.37(109.47)	1,472,73
Cash and cash equivalents at the end of the period.	2,075.61	(202, 57)1,613.37

		⚠(SKE)

NOTES:

These audited consolidated financial results, prepared in accordance with Indian Accounting Standards ('Ind AS') for the quarter and year ended March 31, 2021 have been approved by the Board of Directors of the Company at its meeting held on April 22, 2021. The statutory auditors have expressed an unqualified opinion on these standalone financial results.

The figures for the quarters ended March 31, 2020 and March 31, 2021 are the balancing figures between the audited figures in respect of the full financial years and published audited year to date figures upto the end of the third quarter of the relevant financial year.

Segment Reporting

The Chairman and Managing Director of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by Ind AS 108, "Operating Segments". The Company operates in one segment only i.e. "Software Services". The CODM evaluates performance of the Company based on revenue and operating income from "Software Services". Accordingly, segment information has not been separately disclosed.

The Board of Directors has recommended a final dividend of Rs. 15.00 per equity share for the year ended March 31, 2021. The payment is subject to approval of shareholders in the ensuing Annual General Meeting of the Company. Once approved, the cumulative dividend for the year will amount to Rs.25.00 per equity share (including interim dividend payment of Rs.10.00 declared on October 21, 2020).

Sasken Technologies Ltd. HNZ ASKF Raiiv C A ŵ Chairman and Managing Director DIN: 0092057

Place: Bengaluru Date: April 22, 2021

Sasken Technologies Limited CIN: L72100KA1989PLC014226 139/25, Ring Road, Domlur, Bengaluru - 560 071

Extract of audited consolidated financial results of Sasken and its subsidiaries for the quarter and year ended March 31, 2021

					(Rs. In lakhs).
SLNo.	Particulars	Quarter endedMarch 31, 2021	Quarter endedMarch 31, 2020	For the yearended March 31.	For the year endedMarch 31, 2020
				-2021
	Total income from operations	11.645.49	11,018.20	47,445.19	52,797.11
2	Net profit for the period (before tax)	3,935.64	1,622.43	14,949,25	11,196.59
	Net profit, for the period after tax	2,908.83	944.89	11.454.64	7,882,75
$\overline{4}$	Total comprehensive income for the period [comprising profit forthe period (after tax) and other comprehensive income (after tax))	854,14	(298.04)	10,418.15	5,910.48
5.	Paid up equity share capital	1,505.09	1,505.09	1,505.09	1,505.09
6.	Reserves (excluding revaluation reserve) as shown in the auditedbalance sheet of FY20				46,040.84
Z.	Earnings Per Share (of Rs. 10/- each)
	1. Basic:	19.37	6.29	76.26	48.57
	2. Diluted:	19.37	6.29	76.26	$-48.57$
8	Total income	10,124.18	9,654.83	42,579.78	45,594.94
9	Profit before tax*	1,603.12	1,747.87	12,611.71	11,576.99
10	Profit after tax. *	719.14	1,051.35	9.260.59	8.231.06

* Information pertains to Sasken Technologies Limited on a standalone basis.

Note:

The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015. The full for Stock Exchange(s) and the Company.

ัูนพิอั Þ SASKE ij. $\mathbf{r}^{\prime}$

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SV Tower, No. 27, Floor 4 80 Feet Road, 6th Block, Koramangala Bengaluru 560095, INDIÄ Tel: +91 80.6811 1600.

Independent Auditor's Report on Quarterly Standalone Financial Results and Year to Date Standalone Financial Results pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015

To the Board of Directors of Sasken Technologies Limited

Report on the Audit of Standalone Financial Results

Opinion

We have audited the accompanying standalone annual financial results of Sasken Technologies Limited (hereinafter referred to as 'the Company') for the quarter and year ended March 31, 2021 ('the Statement'), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Statement:

(i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

(ii) give a true and fair view in conformity with the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 ("the Act") read with Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Company for the year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the standalone financial results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.

We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Board of Directors' Responsibilities for the Standalone Financial Results

This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, have been prepared on the basis of the standalone annual financial statements. The Company's Board of Directors are responsible for the preparation and presentation of this Statement that give a true and fair view of the net profit and other comprehensive income in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with Companies (Indian Accounting Standards) Rules, 2015, as amended issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Board of Directors of the Company are responsible for maintenance of

adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Company, as aforesaid.

In preparing the Statement, the Board of Directors of the Company are responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors of the Company are responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are. free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (1) of the Act. we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the

Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance of the Company of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Other Matters

1. The Statement include the results of the Company for the quarter and year ended March 31, 2020, which were audited by another auditor whose report dated April 27, 2020, expressed an unmodified opinion on those Statement.
ii. The Statement include the results for the quarter ended March 31, 2021, being the balancing figure between the audited figures in respect of the full financial year and the published audited year to date figures up to the third quarter of the current financial year prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting".

Our Opinion is not modified in respect of these matters.

For MSKA & Associates Chartered Accountants ICAI Firm Registration No.105047W

DEBASHIS

lagitally woned by DUNASHIS DANGUPTAOffice OF, with ensure postok odm 100000. Mehammata.15.4 20- Middise Arbourk Hodi (1949) breath 1 |Shel 17- 22 / Kenne Arzhou (1900) breath (1945). DASGUPTA

Debashis Dasgupta Partner Membership No. 053681 UDIN: 21053681AAAAAE1249

Place: Bengaluru Date: April 22, 2021 AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2021

			Quarter ended		Year ended
SI, No.	Particulars	March 31,	December 31,	March 31,	March 31.	March 31,
		2021	2020	2020	2021	2020
	Revenue from operations	9,402.82	10,049:05	9,695.50	39,245.74	41,670,76
п	Other income	721.36	1,197.64	(40.67)	3,334.04	3,924.18
Ш	Total income (I+II)	10, 124, 18	11,246.69	9,654.83	42,579.78	45,594.94
IV.	EXPENSES
	Employee benefits expense	5,425.84	5,811.01	6,299.77	23, 154, 21	26,824.59
	Finance costs	33.43	0.96	14.48	47.19	62.49
	Depreciation and amortization expense	199.19	211.31	262.23	919.92	.993.91.
	Other expenses	855.29	1,017.57	-1,330.48	3,844.44	6,136.96
	Total expenses (IV)	6,513.75	7,040.85	7,906.96	27,965.76	34,017.95
'V.	Profit before exceptional items and tax (III-1V).	3,610.43	4,205.84	1.747.87	14,614.02	11,576.99
٧I	Exceptional items (refer point 3 in note annexed)	(2,002.31)	$\blacksquare$		(2,002,31)
VII	Profit before tax (V-VI)	1,608.12	4,205,84	1,747.87	12,611.71	11,576.99
VIII	Tax expense:	888.98	915.22	696.52	3,354.12	3,345,93
	(1) Current tax	847,90	775,39	$-1,170.23$	3,124.61	3,864.21
	(2) Deferred tax	$-41.08$	139.83	(473.71)	226.51	(518, 28)
IX	Profit after tax (VII-VIII)	719.14	3,290.62	1.051.35	9,260.59	8,231.06
Х.	Other comprehensive income	178.39	.153.22	(1,455.86)	1,200.85	(2,061.39)
	A Items that will not be subsequently reclassified to profit or loss-(i)	182,69	(111.44)	(927, 53)	139.12	(1,073.52)
	Remeasurement gain / (loss) on defined benefit plans
	(II) Investment fair valuation through OCI	(7,50)	37.05		31.08
	(iii) income tax relating to items that will not be reclassified subsequentlyto profit and loss	(5:16)	23.81	228.45	1.39	279.47
	B Items that will be subsequently reclassified to profit or loss-(i)change in fair value of forward contracts designated as cash flows hedges	9.32	272.19	(1, 035.58)	1,377.92	(1,820,15)
	(ii) income tax relating to items that will be subsequently reclassified toprofit or loss	(0.96)	(68.39)	278.80	(348, 66)	552.81
xı	Total comprehensive income for the period (VII+VIII) (comprising profit andother comprehensive income for the period)	897.53	3,443.84	(404.51)	10,461.44	6,169.67
XII	Paid up equity share capital (face value: Rs 10 per share)	1.505:09	1,505.09	1,505.09	1,505.09	1,505.09
XIII	Other equity				55,369.46	46,434.70
XIV	Earnings per equity share
	(1) Basic	4,78	21.86	6.99	61.53	51.41
	(2) Diluted	4.78	21.86	6.99.	61.53	51.41

Sasken Technologies LimitedCIN: L72100KA1989PLC014226 139/25, Ring Road, Domlur, Bengaluru - 560 071

AUDITED STANDALONE BALANCE SHEET AS AT MARCH 31, 2021

		(Rs. in lakhs)
Particulars	As at March 31, 2021	As at March 31, 2020
ASSETS
(1) Non-current assets
Property, plant and equipment	3,294.45	4,218.37
Capital work-in-progress	$0.72^{\circ}$	9.85
Intangible assets	18.19	9.70
Financial assets
(i) Investments	36,215,18	25,090.15
(ii) Long term loan	201.92	201.92
(iii) Other financial assets	90.66	264.70
Deferred tax assets (net)	662.56	1,236.34
Other tax assets	4,100.65	5,838.93
Other non-current assets	0.55
Total non-current assets	44,584.88	36,869.96
(2) Current assets
Financial assets
(i) Investments	7.069.13	10,673.55
(ii) Trade receivables	5,916.11	8,207.83
(iii) Cash and cash equivalents	678.90	1,130.07
(iv) Other bank balances	3.015.70	15.78
(v) Loan to Subsidiary		951.98
(vi) Unbilled revenue	1,331.90	1,297.27
(vii) Derivative assets	495.15
(viii) Other financial assets	627.42	468.51
Contract assets	1,645.88	617.01
Other current assets	579.17	859.49
Total current assets	21, 359, 36	24, 221.49
Total assets	65,944.24	61,091.45
EQUITY AND LIABILITIES
Equity
Share capital	1,505.09	1,505.09
Other equity	55,369,46	$-46,434.70$
Total equity	56,874.55	47,939.79
LIABILITIES
(1) Non-current liabilities
Lease liabilities		324.06
Provisions	626.81	1,299.68
Total non-current liabilities	626.81	1,623.74
(2) Current liabilities
Financial liabilities
(i) Trade payables
Outstanding dues to micro and small enterprises	3.75	1.57.
Outstanding dues to creditors other than micro and small enterprises	1,170.21	1,369.89
(ii) Lease liabilities
(iii) Other financial liabilities	2,363.16	2,069.24
(iv) Derivative liabilities		890.17
Deferred revenue	84.01	532.12
Other current liabilities	1,741.08	1,535.80
Provisions	978.80	843.32
Income tax liabilities (net)	2,101.87	4,285.81
Total current liabilities	8,442.88	11,527.92
Total equity and liabilities	65.944.24	61.091.45

$\alpha$ ( $\beta$

Sasken Technologies Limited

Audited Standalone statement of cash flows for the year ended March 31, 2021(Amount in lakhs, except share and per share data, unless otherwise stated)

For the year ended March31, 2021	For the year endedMarch 31, 2020

12,611.71	11,576.99

	-993,91
	(984.15)

(501.41)	(1,502,69)
(217.71)	(102, 13)
(2, 126, 68)	(186.97)
	(7.71)
$-47, 19.$
(85.57)	(131.31)
(21.59)	10.71
(1.11)	(0.47)
2,002.31
18.69
(7.40)	10,88


	(22, 92)
	(425.48)
	(22.91)
	961.62
11,194,12	10,167.37
(1,528.77)	526.85
9,665.35	10,694.22


	461.50
	1,401.79
	7.71
	(1, 424, 56)
	377.00
	(48,989.21)
	66,611.27
	(15.33)

(8, 427.06)	18,430.18


	(16, 988.75)

(1,690.57)	(11, 429, 39)(28, 418, 14)
(452.28)	706,25
-1,130.07	423.36
1,11	0.46
	1,130.07

	919.92(548.52)(24.58)(6.31)1,209.53(1,631,34)(645.61)202.60400.2524.58501.4147,35(198, 38)(31,067.31)23,912,98(2,999.92)951.98(185.48)(1, 505.09)678.90

NOTES:

These audited standalone financial results, prepared in accordance with Indian Accounting Standards ('Ind AS') for the quarter and year ended March 31, 2021 have been approved by the Board of Directors of the Company at its meeting held on April 22, 2021. The statutory auditors have expressed an unqualified opinion on these standalone financial results.

Segment Reporting

1. The Company had evaluated its long term investments in its subsidiary, Sasken Inc for the purpose of determination of potential diminution in value of investment and based on such evaluation and determination, a provision for diminution in the value of investment as at March 31, 2021 amounting to Rs. 2002.31 lakhs was recorded as an exceptional item.
1. The Board of Directors has recommended a final dividend of Rs. 15.00 per equity share for the year ended March 31, 2021. The payment is subject to approval of shareholders in the ensuing Annual General Meeting of the Company. Once approved, the cumulative dividend for the year will amount to Rs.25.00 per equity share (including interim dividend payment of Rs.10.00 declared on October 21, 2020).

Technologies Ltd. HNr SASKE Rajiv C Mody

Place: Bengaluru Date: April 22, 2021

Chairman and Managing Director DIN: 0092037

$\mathcal{N}_{H}$

Dear Analyst,

It is my pleasure to highlight the business performance of the Sasken Group for the fourth quarter ended 31st March 2021:

We must point out that certain statements made here or those we make subsequently in response to your queries concerning our future growth prospects are forward-looking statements. Please read the Safe Harbor clause in the second slide of our presentation for full details.

Let me begin by walking you through our financials for the Fourth Quarter Fiscal 2021. In the fourth quarter of Fiscal '21 the consolidated revenues for the Sasken Group declined by 2.9% over the previous quarter to ₹. 110.61 crores. Consolidated Earnings before Interest and Taxes for the fourth quarter fiscal '21 were ₹. 33,84 crores, an increase of 3.5% sequentially. Consolidated PAT for Q4 fiscal '21 was at ₹. 29.09 crores, down by 14.2% over the previous quarter. PAT margins for the quarter were 26.3%. The consolidated earnings per share, was ₹19.37 for the quarter.

For the financial year 2021, the consolidated revenues were at ₹, 444.84 crores, down by 9.6% over the fiscal 2020. EBIT margins for fiscal '21 were ₹. 120.34 up by 56.5% over the fiscal 2020. PAT margin for the full year were at 25.7% up by 45.3% over the fiscal 2020. Consolidated EPS was ₹ 76.26 for the full fiscal year 2021. Cash and cash equivalents were approximately ₹466.1 crores as of March 31, 2021.

People

As of 31st March 2021, the headcount for the Sasken group stood at 1,395, and the attrition for the last twelve months stood at 21,4%. Utilization for the quarter averaged 79.6%

Customers

We have successfully added 3 new customers during the quarter taking the total number of active customers to 72.

Business Highlights

In this year, we faced the daunting prospect of the COVID-19 pandemic. Our primary focus has been to maintain business continuity and safeguard the interests all our stakeholders. As indicated in the previous quarter we are beginning to see a return in customer confidence across verticals we serve.

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We are buoyed by our ability to sign longer term contract especially in enterprise devices for service targeting products running on the Android platform. In the industrial segment we have expanded our service footprint and are partnering with a global leader, who provides in building security solutions. In the semiconductors space, we address the testing & validation needs of semiconductor platforms running on the Windows™ & other OS platforms. Further, we have leveraged our expertise in 5G to help semiconductor vendors address 5G/CV2X based telematics application. In the communication segment, we have made reasonable progress with our engagements in the Open Radio Access Network space for both 4G/5G networks. In the digital space we have been able to offer a 'sensor to sensemaking' integrated solution that helps automate the testing of railroad networks. We continue our pursuit to integrate digital as a core component of product engineering solutions.

The developments in the macro environment due to the second wave of Covid-19 have resulted in certain amount of uncertainty. We are monitoring situation closely as before and we will strive to take all possible steps to mitigate any adverse impact to our business.

Final Dividend

The Board of Directors has recommended a final dividend of Rs.15.00 per equity share for the year ended March 31, 2021. The payment is subject to approval of shareholders in the ensuing Annual General Meeting of the Company. Once approved, the cumulative dividend for the year will amount to Rs.25.00 per equity share (including interim dividend payment of Rs.10.00 declared on October 21, 2020).

We thank you for your interest in Sasken and your continued support. My team and I are committed to doing our best to serve the interests of all our stakeholders.

Rajiv C Mody

Chairman, Managing Director and CEO

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Media Release - For Immediate Release

Fiscal 2021 has been a challenging year for the industry. Our primary focus has been to maintain business continuity and safeguard the interests all our stakeholders. We are beginning to see a return in customer confidence across the verticals we serve. We are focused on strengthening our front-line teams, deepening our solutions and service lines to win long term, scalable business contracts from our enviable list of customers. The unexpected exponential surge in Covid-19 due to the second wave may result in short term business uncertainties. While technology remains the panacea to help industries adapt and deliver newer revenue generating services in the post pandemic era, we remain cautious and monitor the situation closely said Rajiv C Mody, Chairman, Managing Director and CEO of Sasken.

Performance Snapshot for the Quarter: Q4 FY 21

Consolidated Revenues for Q4 FY 21 at ₹ 110.61 Crore
- o Down 2.9 % sequentially over the previous quarter
- 0 Down 2.0 % YoY from Q4 FY 20
Consolidated EBIT for Q4 FY 21 at ₹ 33.84 Crore
- o Up 3.5% sequentially over the previous quarter
- Up 77.5 % YoY from Q4 FY 20 $\Delta$
- $\sigma$ EBIT Margins for the quarter at 30.6 %
Consolidated PAT for Q4 FY 21 at ₹ 29.09 Crore
- $\sigma$ Down 14.2 % sequentially over the previous quarter.
- Up 207.8 % YoY from O4 FY 20 $\alpha$
- o PAT Margins for the quarter at 26.3 %

Performance Snapshot for the FY 21

Consolidated Revenues for FY 21 at ₹ 444.83 Crore
- Down 9.6 % YoY from FY 20 $\alpha$ .
Consolidated EBIT for FY 21 at ₹120.34 Crore
- o Up 56.4 % YoY from FY 20
- O EBIT Margins for the at 27.0 %
Consolidated PAT for FY 21 at ₹ 114.54 Crore
- o Up 45.3 % YoY from FY 20
- o PAT Margins for the year 25.7 %

Key business metrics

Revenue contribution from the Top 5 customers stood at 40.9 % and from the Top 10 customers at 65.2 %
Added 3 new customers during the quarter, taking the total number of active customers to 72.
Consolidated EPS was at ₹49.37 for the quarter and at ₹76.26 for the full fiscal.

Ч

www.sasken.com | Sasken Confidential

31 K

A fact sheet providing the operating metrics for the company and a presentation for analysts can be downloaded from the investor section of the corporate website www.sasken.com

About Sasken:

Sasken is a specialist in Product Engineering and Digital Transformation providing concept-to-market, chip-tocognition R&D services to global leaders in Semiconductor, Automotive, Industrials, Consumer Electronics, Enterprise Devices, SatCom, Telecom, and Transportation industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than a billion devices. through its services and IP.

Spokesperson:

Swami Krishnan VP Marketing and Communications

E: [email protected] T: +91 9743979264

Disclaimer on Forward Looking Statements:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general económic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the Indian IT services industry, including with respect to tax incentives and export benefits, adverse changes in foreign laws, including those relating to outsourcing and immigration, increasing competition in and the conditions of the Indian and global IT services industry, the prices we are able to obtain for our services, wage levels in India for IT professionals, the loss of significant customers the monetary and interest policies of India, Inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in india and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the information technology/ telecommunication industries. Additional risks that could affect our future operating results are more fully described in our Red herring filing. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

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Sasken Technologies Limited Annual Report 2021

60736_rns_2021-04-22_f3c6077a-cee4-448d-a87f-883a726a57e8.pdf