Savera Industries Ltd. — Board/Management Information 2022

Aug 5, 2022

SAVE RP OUR BL NESS IS VOU

August 05, 2022

The Deputy General Manger,

Department of Corporate Services, BSE Limited, 23rd Floor, PJ Towers, Dalal Street, Mumbai·400 001.

Sir/s:

Sub: Outcome of Board Meeting held on August 05, 2022. Ref : Scnp Code· 512634 - Savera Industries Ltd.

With reference to above mentioned subject at the Board Meeting held on Friday, OSth August, 2022, i.e today the Board Directors of the Company have Considered, approved/recommended and taken on record the following business:

A) Un-Audited financial Results:

Board considered and approved the unaudited financial results for the quarter ended 30[111 ] June, 2022 together with the Limited Review Report issued by the Statutory Auditors of the company.

Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the following:

i. A copy of Unaudited Financial Results for the quarter ended on June 30, 2022.

ii. Limited Review Report on the aforesaid Unaudited Financial Results.

BJ Annual General Meeting:

• (I) The 53rd Annual General Meeting of the company will be held on Monday, 12[111 ] September, 2022 at 02.4SPM through Video Conferencing ("VC") / Other Audio Visual Means (:OAVM").

• (11) In relation to 53n:1 Annual General Meeting, Register of Members and Share transfer books shall remain closed from 06[1h ] September 2022 to 12[1h ] September 2022 (Both days inclusive).

• (II I) Considered and approved the contains of Notice calling 53rd Annual General Meeting.

• (IV) Considered and approved Director's Report including Annexures and Corporate Governance report for the Financial Year 2021-2022.

• (V) Considered and approved appointment of Scrutinizer for conducting E-voting for the 53rd Annual General Meeting of the Company. The Cut-off date for Remote E - voting would be 02nd September, 2022.

Savera Industries Ltd., 1461 Dr. Radhakrishnan Road, Chennar - 600 004. CIN: L 101TN1969PLC005768 MSME: UDYAM-TN-02-0029972 Tel.: 91-44-2811 4700.

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OUR BUSINESS IS YOU
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C) Appointment of Directors:

• (I) The Board of Directors of the Company on the recommendation of Nomination and Remuneration Committee have approved the appointment of Mr. S. Sundarraman (DIN:06412800) as an Additional Director, Non Executive Independent Director on the Board of the Company.

• (11) The Board of Directors of the Company on the recommendation of Nomination and Remuneration Committee have approved the appointment of Mr. A. Chaitanya Kumar (DJN:09683865) as an Additional Director, Non Executive Director on the Board of the Company.

• (111) The Board of Directors of the Company on the recommendation of Nomination and Remuneration Committee have recommended to the members of the Company the appointment of Dr. C.Palanivelu (DIN: 09675732) as a Non Executive Independent Director in the ensuing 53rd Annual General Meeting of the Company.

D) Change in Designation

• (1) The Board of Directors of the Company on the recommendation of Nomination and Remuneration Committee have approved the change in designation of Mr.Tarun Reddy (DIN: 01521977) from Non-Executive Director to Executive Director of the Company.

• (II) The Board of Directors of the Company on the recommendation of Nomination and Remuneration Committee have approved the change in designation of Mrs.A.Nivruti (DIN: 00576167) from Non-Executive Director to Executive Director of the Company.

E) Cessation of Director:

• (I) The Board of Directors of the Company took note of the cessation of Non­ Executive Independent Director Mr.Sridhara Rao (DIN: 06927991)W.E.F 21�[1 ] September,2022 due to the completion of his second term of five years.

F) Re-Appointment Statutory Auditor:

• (!) The Board of Directors of the Company on the recommendation of Audit Committee re-appointed M/s. S.Venkatram & Co., LLP, Chartered Accountants, (Firm Regn. No.0046565/5200095) 218 TTK Road, Chennai 600 018, as statutory auditors of the Company for second term of five years from the conclusion of 53rd Annual General meeting to the conclusion of S8[1h ] Annual General Meeting subject to the approval of members in the S3rd Annual General Meeting of the Company.

Savera Industries Ltd., 146, Dr. Radhakrishnan Road, Chennai - 600 004. CIN : L 101TN1969PLC005768 MSME: UOYAM-TN-02-0029972 Tel.: 91- -2811 4700.

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• OUR BUSINESS IS YOU G) Alteration to object clause of Memorandum of Association:

The Board approved and recommended to the member for alteration of the Object Clause of the Memorandum of Association ("MOA") of the Company.

The details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement), Regulations 2015, are given in the enclosed Annexures l to VJ.

The Board of Directors meeting was commenced at 03.30 P.M and concluded at 06.00 P.M.

Kindly take the above on record.

Yours faithfully, F�•�;r• �n:�ies Limited. t�h� Company Secretary

Savera Industries Ltd., 146, Dr. Radhakrishnan Road, Chennai - 600 004. CIN: L 101TN1969PLC005768 MSME; UDYAM·TN-02-0029972 Tel.: 91-44-28114700.

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Olnt 6l/SINESS IS YO,J
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Annexure l

Appointment of Mr. S.Sundarraman as, Non Executive Independent Director on the Board ofM/s.Savera Industries Limited.

Sr.	Detailsofevent that	Detailsofevent that	need to	be	Information ofsuch
No	provided				event(s)
1.	Reasonforchangeviz.		appointment,		Mr. S.Sundarraman
	FesigAaheA,	FeJfeval,	Eeatk	er	appointed as, Non
	otlet .igc,				Executive
					IndependentDirector
					ontheBoardof the
					Comoanv
2.	Date of appointment		/ceggatien(as		051hAugust,2022
	applicable)
					Five years witheffect
	Term ofappointment				from 05,h August,
					2022 tohold offce
					upto Q4th August,
					2027.
3.	Brief profie(incase of appointment)				Mr. S.Sundarraman,
					qualifed Company
					Secretaryaged 68,
					holds a Master
					Degreein Business
					Administration. He
					has more than 36
					years of experience
					in the feld of fnance
					and secretarial and
					headed various
					companies as both
					CFO and Company
					Secretarv.
4.	Disclosureof relationshipsbetween				Mr.s.Sundarraman
	Directors (incase ofappointment of a Director)				is notrelated toany Director of the
					Comnanv.

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OOII BUSl,.ESSISTCU
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Annexure II

Appointment of Mr.A.Chaitanya kumar as Non Executive Director on the Board of M/s.Savera Industries Limited.

Sr.	Detailsofevent that	needto	be	Informationorsuch
No	provided			event(s)
I.	Reasonforchangeviz.	appointment,		Mr.A. Chaitanya
	Ie:ig1atio11. temo'HI,	ceath	6F	kumarappointedas
	otherwi5e;			Non Executive
				Director on the
				Board of the
				Comoanv
2.	Dateofappointment	/cessatio11	(as	QS1hAugust,2022
	applicable)
				Whose period of
	Term ofappointment			ofcewibeliable to
				determination by
				retirement of
				Director bv rotation.
3.	Brief profle (incase ofappointment)			Mr. A. Chaitanya
				Kumar aged 39,
				holds aCommerce
				Graduate and PG Dip
				(Marketing
				Management).Heis
				having good
				experience in the
				management and
				information
				technclce.
4.	Disclosureofrelationships between			Mr. A. Chaitanya
	Directors (in case ofappointment		of a	Kumar isnotrelated
	Director)			to any Director of the
				Comnanv.

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OUR SUSINESS lS'<O.J
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Annexure III

Appointment of Dr.C.Palanivelu as Non Executive Independent Director subject to approval of members in the 53rd Annual General Meeting of M/s.Savera Industries Limited.

Sr.	Detailsof	event that	needto	be	Information of
No	provided				suchevent(s)
1.	Reasonfor	change viz.	appointment,		Dr.c. Palanivelu
	1��ig1ation, otRerwise;	1e1lOoli,	teath	or	shallbe appointed as Non Executive
					Independent
					Director on the
					Board of the
					Companysubject to
					approval of
					members in the 53r
					Annual General
					Meeting of the
					Comnanv.
2.	Dateofappointment		/ce atio11	(as	12th September,
	applicable)				2022
	Termof appointment				Five years with efect from 12th
					September,2022 to
					holdoffceuptotte
					Senreber,2027
3.	Brief profle (in caseof appointment)				Dr. c. Palanivelu aged 76, holds a
					Ph.D., He has held
					various positionasa
					bureaucratduring
					the last 30yearsand
					by virtue of his
					experience he has
					adequate skisand
					capabities to
					overseethe Board
					andCompany asa
					whole.
4.	Disclosure ofrelationshipsbetween Directors (incase ofappointmentofa Director)				Dr.C.Palanivelu is notrelatedto any Director of the Ccmnanv.

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THE
SAVE RA
OUR BUSINESS ISVOU
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Annexure IV Re-Appointment of Statutory Auditors M/s,Venkatram & Co., LLP Chartered Accountants for Second term of five years subject to members approval in the 53rd Annual General Meeting of the Company.

S.No	Particular	Details
1.	Reason for Change	Re-Appointmentofstatutoryauditorspursuantto
		completion ofthefrstfveyear termofthestatutory
		auditors asnerthe provisions of Companies Act,2013.
2.	Dateof Appointment and	EnsuingAnnualGeneral Meeting.
	Terms of Appointment
		Foraperiod of fveyears commencing fromS3rdAnnual
		GeneralMeeting (i.e. ensuingAnnual GeneralMeeting)
		subject tothe approval of themembers ofthe Company
		at theensuingi.e. S3rdAnnual General Meetg.
3.	Brief Profle	M/s.S.Venkatram&Co., LLP Chartered Accountants
		was Foundedin1943.The Partnersandother
		professional staff come from diverse career
		backgroundsbringing withthem avarietyofexperience
		and learning. The team of well qualifed and
		experienced professionalsbringentrepreneurial energ
		towork togetherwith sharedvaluesforgreater
		standards of serice with a high degree of
		professionalismandresponsiveness.In early years,the
		frmfocusedondirecttaxation, conveyancing and
		relatedmatters(being themain areas practiced by its
		founding partners).Thefrmhassince expanded
		gradually grownand presentlyspecializesin the areas
		ofDirectTax Lawincluding tax representation under
		theDirect TaxLaws,InternationalTax Laws,inall
		phasesof transfer pricingplanning and lawon Goods
		and ServicesTax.

THE SAVE RA OU!! BI.ISINESSIS�Cl.l

Annexure V

Cessation of Mr.S. Sridhara Rao as Independent Director from the Board of M/s.Savera Industries Limited.

Sr.	Detailsoreventthat	needto	be	Information	of
No	provided			such event(s)
1.	Reasonforchangeviz.	a.		Mr. S. Sridhara	Rao
	resignatien, Iemovl,	death	or	wi beceased to be
	otherwise;•Cessation			a Non Execuive
				Independent
				Director from	the
				Board of	the
				Company dueto the
				completionof	his
				second fve	year
				term.
2.	Dateofappoi11t 1e11t	/cessation	(as	21�1 September,
	applicable)			2022
	Term of appointment
				Not Annable
3.	Brief profie(in caseofappointment)			NotApplicable
4.	Disclosureofrelationshipsbetween			NotApplicable
	Directors(in case of appointmentofa
	Director]

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THE
SAVERA
OUR 8USU.ESS IS�OJ
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Annexure VI

Summarv of amendments in the MOA of the Comnanv

S. No

Chanees

1. Existing Clause 111 (A) [Main Object] of the Memorandum of Association of Company has been amended by inserting clauses No. 17 to 20.

17 To carry on the business of buying, selling, reselling, importing, exporting, transporting, storing, developing, promoting, marketing or supplying, trading, dealing of all kitchen crockeries, cutleries, utensils and any related kitchen equipments goods in any manner whatsoever in all type of goods on retail as well as on wholesale basis in India or elsewhere.

To carry on the business as exhibitors of various kitchen wares and cutleries, services and merchandise and to undertake the necessary activities to promote sales of above mentioned products, services and merchandise manufactured/dealt with/provided by the Company.

1. To carry on, manage, supervise and control the business of, transmitting, supplying, generating, distributing and dealing in electricity by way of Solar energy or any other form, kind or description and in PV (Photo Volatic), Modules (Panel), Solar lnvertor, Charge Controller, Mounting Structure, Wires, PV Solar Heater, Batteries, Solar Lanterns and Solar chargeable Lights, Fans etc.

To carry out business of manufacturing, trading, import, export, installation. and operation of Solar systems for energy generation including Solar Photovoltaic, Solar Thermal, Solar Chimney and any other Solar based devices used in households, industry and commercial establishments.

To carry on the business of generating, accumulating, distributing and supplying Solar Energy for its own use or for sale to Governments, State Electricity Boards. Intermediaries in Power Transmission I Distribution, Companies, Industrial Units, or to other types of users I consumers of Energy.

To acquire concessions or licenses granted by or to enter into contracts with, the Government of India, any State Government, Municipal, Local Authority or other Statutory bodies, Companies or any other person for the development, erection, installation, establishment, construction, operation and maintenance of Solar Power Plants, and in this regard to promote, develop, own, acquire, set up, erect, build, install, commission, construct, establish, maintain, imorove, manage. onerate alter, control, take on hire I

SAVERJ:3 OUR BUSINESS ISYOJ

lease, carry out and run all necessary Plants, equipments, sub-stations, workshops, generators, transmission facilities, machinery. electrical equipment, accumulators, repair shops, wires, cables, lamps, fittings and apparatus in the capacity of principals, contractors, developers or otherwise and to deal, buy, sell and hire/ lease all apparatus and things required for or used in connection with generation, distribution, supply, accumulation of Solar Energy.

To carry on the business of consultants, advisors, auctioneers for all type of Solar Energy Plants and to undertake research and development in the filed of solar energy and other allied fields.

19.:To carry on the Activity of Promoting, Imparting, Launching, Creating, Designing, Adopting Traditional, Formal and Creative Means of Imparting, Inculcating , Disseminating, Diversified Skills, Education Forms, Culinary training and Personality Development Techniques and other allied hoteliering training by providing Training, Conducting Seminars, Web­ Seminars, Counseling, E-Courses, Online Classes, Business Consultancy & Training, Telephonic Consultation, Motivational Trainings, Delivering Training Programme on, , with the intent of car rying on the Business of Education and Skill Developments/ Training Institute amongst the masses of India and Abroad by own self and/or through any other Individual, Association of Persons or such Body or Otherwise for self or for and on behalf of any third party under an Agreement or Understanding whether Written or Otherwise and on such terms and conditions as the Company may deem fit.

To develop, promote, facilitate, and otherwise make available educational. skills development and training materials, methods, programmes, advice, recruiting, guidance, support and related services and to co-operate with, encourage and support others in doing so, and by encouraging partnership and stimulating the market, to bring together the public and private sectors to open up new opportunities to meet the needs of potential learners.

To act as hotel management consultants, mangers, operators, advisors. planners, values and to impart technical know-how and training in the field of planning, construction, operation of hotels, motels, restaurants, recreation and entertainment centers in the field of tourism industry whether in India or abroad.

To run educational programmes and courses for training personnel in various fields such as hotel, financial and technical management and to run schools, coaching centers, research centers, hostels, institutes and other allied educational activities in connection with main objects of the Company.

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SAVE{}?
OUR BUSl�ESS ISYOO
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20 To carry on the business of providing Manpower services by recruiting, Selecting, Interviewing, Training and Employing all types of executives, Middle Management Staff, Junior Level Staff, Workers, Labourers Skilled/Unskilled required by various Industries and organizations including providing security services, house keeping services, food and beverages, maintenance services, cleaning building interiors. windows, upholstery, Labour contractors, Industrial, Commercial, Housing, outsourcing management and workers for office management and to provide consultancy and other services.

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SAVER'P
OUR BUSlr-ESS IS YOU
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�A\'.'.IU INl)l)<,TR1•·s l.l�IIT•:n

Reg,I. Office- : 146. Dr. Radhakri.,,hna11 Road. '.\I� l�pon,. Lhcnnai - 600 OiU rel. i\'o. : 9]44-21 1 4700. Fa\ : 9]--U-2811 J-li�. email: info'a'su·c-ntho1cl.com CIS �o.: 1-�5101 r�1969PLC005768 weh-ue : "WW,§3H'r.thotd.com

ST Al F\U'NT o•· ll'\:,(1 1 H) FIN"AN"CIAI. RFSIJI.N FOR TIIE QIIARTF.R n..-nEn Jo'" .IIINF. 2022

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				'llnaudul|	(Au,lil1'	'llnauditc|(A11d1te|
I	Rc-enucrrom01,cruions			1.473.10		932.6	452.22		J.1946
II	01hcrIncome			17.01		20.0	26AJ		IO.AI
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		(11)Changein inwn1oryofS11ck-in-tndc		18.65		120	2.61		JS.H
	(iii)Employee lkndit f11wn,l (i,)Fn�nrl Co>I ()n,·11rcciation&.\morilation			J68.9J 5.15 59.4S		374.H 4.62 6.27	239.0 14.:2 65.85		l.19!.SO 42.6l 2!i.0
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			$,��r�� " ( � � � � \ � 0 Savera Industries ltd. C1ENNP"!•146, Dr.Radhakrishnan Road, Chennai - 600 004. CIN,l 101TN1969PLC05768
							MSME:UDYAM-TN-2-029972
							Tel.:	91--2811 470.

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OUR BUSINESS IS YOU
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i\ote'I 10 Puhli,hcd Re<;uh.:

Amht I) T_hc �bCommittee and 111c_ l"n11udi1ed Finaneubsequemly acial Rpespeeved hJ the Boults (o per Rl"gubtard iof on JJ of DirKtors at ithe S[fs DI mN'(Li,ting Oling held boligan 5th tionAug, anusd Di1 2022. sclosure RequiremcnlS) Rtgul:uions) han IJN>n rrde,.ed b., th Z). The st.llulo�·. auditors ha,e re, �t,.ed the fin:.incial resuhs for the Quarter end NI JOth June 2022 as requirNl under Regulation JJ of the St:BI {L,,ting Obli2auon, and 01,clo'lure Rcqu,remtnb) Re,:!ula1,on, 2015 and the related reperr doe, not have an) impact on lhe abo•e IJHaudiu:d Finandal Re.uh, and notes thtrfl'ln.

J) In • iew or inherent seaso11alit�· or rhe ho'lpitalify sector. the linanciJt resuns for th Qu:.inerl period are not indicaUH of 1he full }tar', c,pccted �rfornmncr and am periodic camp:,riso11 ,houh.l ta�c 1h1s i1 0 con,ider:uion.

-IJ Rnenn and Surplu, includes re,aluation r nt u1,tmg prior lo 1st April 2016 amountine to f l.JJ-1.86 la�h.1 am.I to the ftfore,,:. d nlenf rannot he di,tribUll' to 1he ,h hold �s d1,·idend. are en,

:>) ·r hese finandAI results ha,e been prepared rn arrord�nce wilh the n�oj!nihon and measurement prfnefptes of Indian Arco11ntin� Slandanb (w Ind ,\Sw J pn-,rribrd under S�t,on 1 B of thl" Companie!' Act. 2013 read "ifh the rele,ant rules is,ul'd thereunder and !ht other arro�nling prinr,pln i:cncrnJI� ara11tNI in lmlia.

611 he company hH rrtdlled. � 2.02 l�lh, for lhe quancr endtd JO" June 2022. hemg rent co11rl'Ssions rerehed. to Other lnrome. Thi, i, in acronlance "ith paragraph �6A :.ind �6R of tvn AS 116. notified h} MCA ,ide ib notification dated H'" Juh 2020.

7) The Company has onl1 one O[lfrati1e segment and operates only in India 1·iL, hottlitring and hen re srgmcnt reportinl( uces not apply to the compa11�.

81 EPS is not annuali1ed for the Quarter ended 30th June 2022. JI" .\larrh 2022 & 30'" June 2021.

9) l"he bu'line,s for the prevtcus �riod,/�ear was ,nerly impac!Nl smce the outbreak of COVl[)-19 pandemic in \lnfh 2020. The Compau�· has a�srs,Nl the pmsible impart of <.:OVlll-19 in preparation of the financial res nits. iufluding hut not limitNl 10 us asse ment of liqu,dil� and gomg roeeern a.1sump1ion. reco,cnblr, al uh of it• financial and non-financial a"cl, and impacl on revenues and costs. BasNl on the currenl estimates. lhe Compani doc, not cx�rl any significant impart on the rarl")in2 1alul'!l of ifs assets. The impart of Co, id-19 nmy be difftrtnl rrorn Iha! l',,fimated n al thr dlllt of appro,al of recse financial rtsulh a11d the Compa11y "ill rnntinue to tlostl� monitor any material chaners to fuwre rronomk condition,. Acrordingly. the fi1mnciftl resullS oftht Com pan} ha,·t 1>«11 prepared on a eooni; concern ha,b.

IO) During the current quarter. the Complln) saw ,trong rebound ,n 1b bustuc a1dNl by leisure trn.el and gnidual p1rl.u11 in busine tr:11el Out 10 h,eh part or \"JICcination. ca,ing of (,OVID rntrktioos and fll'U!-up demand r.,.,ultNI in recovery. main I)" in leisure trn,el. in tht second and 1h1rd quarter of FV 2021-22.

1 1 ) The tnd,an l'arhamrnl ha, sppecved the Code on Social Stturil} 2020 ,.h,ch woufu irnpacl thr rontributiuns b} lht Com pan, lo"ards Pru, idem •. und and GrJ1uit�. Tt"· dr.ofl rule, for the ,arne "ere relu;t-d in Nonmber 2020 and the Gnverment has in, ittd ,11gee.t1ons from the '1al.eholdcrs. and thew :1rt under the acrtve rou"derJtion of the Ministr) of Labo11r and t:mplo�mtnl ands the Ocvcmmem has dl'ferrl'll !hr implementalion of the Codts. The Compau, propose,, to a.-eu the impart or the'"""' afler the rul"" are na1ifit'd.

12! The li;ur<'S for the quarter ended J lsl ,\larch 2022 represents the deri1·ed figure betw n the Muditt'd figures in respect of full finanrial ,ur endttl J tst \larch 20!2 an,I published year-re-dare re, iewed figures upto 31,1 Dectmher 2021.

131 Fii.:ures of pre, ious perfeds have been n2roupedlredassifiNl ,.hen-,er nece ary to ronform 10 the current period d.1,,ilicatio11.

l'lare: Cllrnnai

ll�te: 5th ,\u�u•t 2022

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For and on l>ehalf of !ht Board of ll,r�ton ' {6"f ' :"·�' A. Ravikumar Rt , .\IHnaging llirn-lor

Savera Industries Ltd., 146, Dr. Radhakrishnan Road, Chennai - 600 004. CIN : L 101TN1969PLC005768 MSME: UDYAM-TN-02-0029972

Chartered Accountants "Formerly known as S. Venkatram & Co." (Regn No: 722) Converted and registered as LLP vide LLPIN AAM-3179/27.03.2018 with Limited Liability

S. Venkatram & Co. LLP

218, T.T.K. Road, Alwarpet, Chennai - 600018. Ph. No.: 2499 21 55 I 56 I 57 E.mail : admin@svco.in

Limited Review Report For the Quarter Ended 30" June, 2022

To,

The Board of Directors,

Mis. Savera Industries Limited, Chennai.

• I. We have reviewed the accompanying statement of unaudited financial results of M/s. SA VERA INDUSTRIES LIMITED ("the Company"), for the quarter ended 30" June 2022("the Statement").

• This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2 0 13, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.

• We conducted our review of the statement in accordance with the Standards on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to finar.cial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

• 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 accounting standards 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 Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

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5. Other Matter:

Attention is drawn to the fact that figures for the quarter ended 31" March 2022 as reported in these financial results are the balancing figure between audited figures in respect of full financial year and the published year to date unaudited figures up to the end of the third quarter of the relevant financial year which were subjected to limited review by us.

Our conclusion is not modified in respect of the above matter.

Place: Chennai Date: OS'h August 2022

For S. Venkatram & Co. LLP Chartered Accountants 200095 Partner

M. No. 201737 UDIN: 22201737 AOJNSS9567