1Ref: 8K/CHN/2020-21/E030 July 30, 2020

1Ref: 8K/CHN/2020-21/E030
30, 2020 July

National Stock Exchange of India	Limited BSE Ltd.
Market — Listing, Exchange Capital	Plaza, 25th Floor, Phiroze Jeejeebhoy Towers
5th Floor, Plot No. C/1, G Block, Mumbai Complex, Bandra Kurla (E),	Bandra- Dalal Street, Fort 400 Mumbai 400 001
051

Dear Sir/Madam,

Sub: Intimation on the outcome of the Board Meeting held on July 30, 2020 and disclosure under Regulation 30 and as specified in Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. (SEBI Listing Regulations)

Kindly refer our letter dated July 27, 2020, intimating you the date of Meeting of the Board of Directors to inter alia consider Audited Financial results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2020.

In this regard, we would like to inform you that the Board of Directors at their meeting today have approved the following:

1. Appointment of Mr. S Ravi Chandran (DIN: 02831039) as an Additional and Whole-Time Director, subject to approval of shareholders:

Pursuant to Regulation 30 read with Part A of Schedule III to the SEBI Listing Regulations, this is to inform that the Board of Directors at its meeting held today on July 30, 2020 (Thursday) appointed Mr. S. Ravichandran as the Additional and Whole-Time Director of the Company, pursuant to the recommendation of the Nomination & Remuneration Committee, for a period of 5 (five) years with effect from 30 July 2020 subject to the approval of shareholders at the forthcoming Annual General Meeting.

Further, as per the requirement of the Circular No. LIST/COMP/14/2018-19 dated 20th June, 2018 issued by BSE on the subject of enforcement of SEBI Orders regarding appointment of Directors by listed companies, we hereby affirm that the Director being appointed is not debarred from holding the office of director by virtue of any order of SEBI or any other such authority

Information as required under Regulation 30 - Part A of Schedule Ill of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed herewith as Annexure A.

2. Resignation by Mrs. Padmini Ravichandran

Pursuant to Regulation 30 read with Part A of Schedule III to the SEBI Listing Regulations, this is to inform that the Board of Directors at its meeting held today on July 30, 2020 (Thursday) accepted the resignation by Mrs. Padmini Ravichandran (DIN: 02831078) from the office of Non-Executive Non-Independent Director.

Information as required under Regulation 30 - Part A of Schedule Ill of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is annexed herewith as Annexure A.

3. Audited financial results

Audited financial results (Standalone and Consolidated) for the quarter and year ended March 31, 2020, in respect of which we enclose a copy of the following as prescribed under Regulation 33 of the Listing Regulations:

i. The detailed format of the audited financial results (Standalone and Consolidated) being submitted as per the listing regulations. The said detailed results will be uploaded online on the websites of the stock exchanges where the securities of the Company are listed and website of the Company;
ii. Auditor's report from the statutory auditors, M/s K Gopal Rao &, Chartered Accountants for Standalone and Consolidated Financial results as prepared under the Companies Act, 2013 and Listing Regulations
iii. Statement on Impact of Audit Qualification(s)
iv. Press release including business highlights about the above financial results being released for publication
Vv. Extract of Audited Financial Results to be published in newspaper pursuant to Regulation 47 of Listing Regulations.

4. Approval of the proposal for raising capital by overseas subsidiary

The Board in its meeting gave its in-principle approval for the proposal to raise upto USD 50 Million in multiple tranches by its overseas subsidiary Healthcare Triangle Inc for its further growth and expansion.

The above results and related documents have been reviewed and recommended by the Audit Committee in its meeting held today prior to the Board Meeting and was approved by the Board of Directors.

The meeting of Board of Directors commenced at 11.10 A.M and concluded at 01.10 P.M

Kindly take the above information on record and acknowledge receipt.

Thanking you,

Yours Sincerely, For 8K Miles Software Services Limited

GANESH Digitally signed by GANESH SRI SRI VIGNESH Date: 2020.07.30 VIGNESH 13:12:50 +05'30

G Sri Vignesh Company Secretary & Compliance Officer ICSI membership No. A57475

5, Cenotaph Road, II Floor, Srinivas Towers, Teynampet, Chennai - 600 018 © +91 44 66028000 +91 44 43009049 @[email protected] CINNo. L72300TN1993PLC101852 www.8kmiles.com

Annexure A-1

Information as required under Regulation 30 - Part A of Schedule Ill of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

	Disclosure Requirements) Regulations, 2015	Information as required under Regulation 30 - Part A of Schedule Ill of SEBI (Listing Obligations and	Annexure A-1
S. No.	Requirement	Appointment of Director	Resignation of Director
1	Reason change for viz. appointment, resignation, removal, death or otherwise;	Appointment Mr. of S. Ravichandran Additional the as and Whole-Time Director of the Company.	Mrs. Padmini Ravichandran from resigned has the Non-Executive office of Non-Independent Director
	appointment/ Date of term cessation & of appointment	July 30, 2020 — For a period of 5 years	Resignation effective July 30, 2020 (vide letter dated July 20, 2020)
	Brief Profile	Mr. S. Ravi Chandran is the Head of Indian Operations and Non-US Territory Sales for 8K Miles and Director in the subsidiary also a company viz., Healthcare Triangle Private Limited. Prior to joining 8K Miles, Ravi was heading Europe UK = and Ramco Operations Systems for new instrumental and drive to customer acquisition. Earlier, he has worked as Head of	Not Applicable
		Global Sales and Marketing for RS Software, a company specializing in payment industry and Head of Europe operations UK and for
	Disclosures of Relationships	Keane where he was responsible Managed P&L for topline and a team people 800 (including of between delivery) and India Europe and focusing Telco, on BFSI and Retail. Prior to that, he was with Keane APAC, Tecsol and IBM Singapore and Australia. Mr. S Ravichandran is not related	Not Applicable

5, Cenotaph Road, II Floor, Srinivas Towers, Teynampet, Chennai - 600 018 © +91 44 66028000 +91 44 43009049 @[email protected] CINNo. L72300TN1993PLC0101852 www.8kmiles.com

Annexure A-2

PRESS RELEASE

The Board of 8K Miles appoints Mr. S. Ravichandran as an Additional and Whole-Time Director of the Company

The Board of Directors of 8K Miles Software Services Limited (8K Miles) at their meeting held today approved the appointment of Mr. S. Ravichandran as the Additional and Whole-Time Director of the Company for a period of five years effective 30 July, 2020 — 29" July 2025, subject to approval of shareholders and other statutory approvals, if any.

Mr. S. Ravichandran, started his career with CMC (Which is now part of TCS) in 1980. Prior to joining 8K Miles, Ravi was heading UK and Europe Operations for Ramco Systems and was instrumental in driving new customer acquisitions. Earlier, he has worked as Head of UK and Europe of Keane (Now part of NTT) based out of UK driving business development and synergetic acquisitions and integration across Europe driving significant growth. Prior to joining Keane, Ravi was running his own company in Singapore reselling and implementing Ramco ERP Systems across Asia Pacific and made them a recognizable brand. Working for IBM based out of Australia and Singapore, Ravi was instrumental in driving business in India especially in the newer technology products introduced by IBM during that time. He has close to 40 years of experience in IT Products, Solutions and Services Industry and solid management expertise in Marketing, Sales, Delivery and Operations

He joined 8K Miles on August 2015 and he is now designated as Executive Vice President, Head Indian Operations & Non-US Territory Sales. After joining 8K Miles, Ravi was instrumental in building strategic SBUs allowing much closer working relationship with sales team. Apart from that and from an operations perspective, he streamlined the various processes to ensure changing projects demands are prioritized and met while ensuring profitability. Realizing the potential of digital marketing, he successfully built the digital marketing team that has started bearing results in terms of increased brand awareness and sales

5, Cenotaph Road, II Floor, Srinivas Towers, Teynampet, Chennai - 600 018 ©) +91 44 66028000 +91 44 43009049 @[email protected] CINNo. L72300TN1993PLC0101852 www.8kmiles.com

Ox 4. K. GOPAL RAO & CO., X Chartered Accountants GSTIN : 33AAGFK3782M1ZZ

INDEPENDENT AUDITOR'S REPORT

To The Directors of 8K Miles Software Services Limited

Report on the Audit of the Standalone Financial Statements

Qualified Opinion

We have audited the accompanying standalone financial results of 8K Miles Software Services Limited (The Company) for the quarter ended 31* March, 2020 and for the period 01% April ²⁰¹⁹ to 31°t March 2020, attached, 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, except for the effects of the matter described in the Basis for Qualified Opinion section of our report, the aforesaid financial statements give the information required by the Companies Act ²⁰¹³ in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company for the quarter and the year ended as on 31 March 2020 and its profit/loss and its cash flows for the quarter and year ended on that date. :

Basis for Qualified Opinion

(i) We have formed our opinion on the evidence obtained by following alternate procedures performed during our audit in the light of modified report (disclaimers) contained in by the previous auditor.
^eClosing balances of all receivables and payables were verified through: external confirmations received directly from the respective parties.
e Confirmation of closing Bank balances received directly.
e Write off of old and doubtful receivables.
© Relied on the findings of special audit report against the complaint made u/s 143(12) of The Companies Act 2013 and its impact on the opening balances for the current year.

(ii) We draw your attention to last year's audit observation on long outstanding receivables from overseas customers amounting to Rs 3,464.01 Lacs (31 March 2019) and corresponding technical services payable to overseas vendor of Rs 1,709.20 Lacs. The receivables amounting to Rs 1,709.20 Lacs has been assigned to the vendor based on the assignment agreement between the Company and the Vendor. The residual balance of Rs 1,754.81 Lacs has been written-off to the Profit & Loss account. The Company has made an intimation to the AD banker as required by RBI master circular and is subject to the approval of the RBI. The company is of the opinion that there is no Goods and Service Tax applicability on the above transaction as the services have been availed and rendered outside India. Profits for the current year have been impacted to this extent due to the above.

* Tiruvallur
Mumbai # 21, Moosa Street, T.Nagar, Chennai - 600 017. ⁺Bengaluru © 4552 2032 / 2434 3639 / 4212 8955 / 2434 2563 ¢ Madurai (M) 98400 53053 / 98400 63269 / 98408 73269 Chennai - 600 017. © 4212 9770 / 4212 ⁸⁹⁵⁵ ¢ Tiruchirappalli Website : www.kgrca.in Email : [email protected] Email : [email protected], [email protected]

Ox 22 K. GOPAL RAO & CO., Chartered Accountants GSTIN : 33AAGFK3782M1ZZ

(iii) The Company had Trade and Other Receivables aggregating to Rs 3,309.10 Lacs as at 31st March 2019 due from 8K Software Services Inc., an Overseas Subsidiary. Subsequently, an amount of Rs 1,124.53 Lacs has been collected (Rs 782.27 Lacs till . 31st March 2020 and Rs 342.26 Lacs from 1st April 2020 till 30th June 2020. The AD banker has been intimated about the delay in collecting the outstanding beyond 12 months. Further, the Subsidiary Company has confirmed the outstanding balances as of 31st March 2020. The interest burden suffered due to continued delay in realization of receivables is estimated at Rs 288.47 lacs.

Management's Responsibility

The Management of the Company is responsible for preparation of the Statement in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. The Board of Directors have approved the Statement.

Auditor's Responsibility

Our objectives are to obtain reasonable assurance about whether the standalone financial results 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 Audit Standards 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 based on these standalone financial results.

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

e Identify and assess the risks of material misstatement of the standalone financial results, 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.
e Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose ofexpressing an opinion on the effectiveness of the company's internal control.
* Tiruvallur

Branches: i Office :

¢ Mumbai # 21, Moosa Street, T.Nagar, Chennai - 600 017. * Bengaluru © 4552 2032 / 2434 3639 / 4212 8955 / 2434 2563 ga ¢ Madurai (M) 98400 53053 / 98400 63269 / 98408 73269 Chennai - 600 017. © 4212 9770 / 4212 8955 * Tiruchirappalli Website : www.kgrca.in Email : [email protected] Email : [email protected], [email protected]

* 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 Company's ability 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 financial results 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 goingconcern.
e Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance 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.

CoVID-19 Impact

The country-wide lockdown and restrictions imposed by the Government of India and State Government have posed challenges to the Company's operations. The employees have been asked to work from home to mitigate the impact of the lock-down and to comply with the Government's guidelines. We have not noticed any adverse impact on the Company's Financials or collection of receivables as evidenced by the cash flows during the period 01* April 2020 to 30°" June 2020.

* Tiruvallur

Branches: Registered Office :Second Office :

* Bengaluru © 4552 2032 / 2434 3639 / 4212 8955 / 2434 2563 Ground Floor, off: Burkit Road, T. Nagar, + Madurai (M) 98400 53053 / 98400 63269 / 98408 73269 Chennai - 600 017. © 4212 9770 / 4212 8955 ¢ Tiruchirappalli Website : www.kgrca.in Email : [email protected] Email : [email protected], [email protected]

For K. Gopal Rao & Co. Chartered Accountants FRN # 0009568

A | pw"

cA shyakar Mattapalli Partner Membership # 015932

Chennai . 30th July 2020 UDIN - 2001593) AAAAAHI28S

"> Mumbai # 21, Moosa Street, T.Nagar, Chennai - 600 017. # 2, South Dhandapani Street, Meena Arcade,

8K MILES SOFTWARE SERVICES LIMITED

STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER/YEAR ENDED 31ST MARCH 2020

	Registered Office: Second Floor, Srinivas Towers, No. 5, Cenotaph Road, Teynampet, Chennai - 600 018	(CIN: L72300TN1993PLC101852)	8K MILES SOFTWARE SERVICES LIMITED
	STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER/YEAR ENDED 31ST MARCH 2020
			Quarter Ended		Year to Date	(Amount in INR in lakhs except EPS)
	Particulars	31 Mar 2020 Audited	31 Dec 2019 Un-Audited	31 Mar 2019 Audited	31 Mar 2020 Audited	31 Mar 2019 Audited
	(Income
	a} Revenue from operations. b} Other ineome (inctuding forega exchange gan / (i085) -	1,021.97	4,112.32	1,320.81 3.28	4,245.67 303.17	5,655.44 686.58
	(Refer Nowe §) 'Total income	159.90 1,181.87	141.89 1,254.21	1,374.09	4,548.84	6,381.42
	2 Expenses
	a) Employee benefits expense b} Finance costs	382.94 220.64	453.98 234,78	464.22 249.25.	1,833.73 920.21	4,732.87 969.66
	¢) Depreciation and amortization expense	314 1,874.37	6.81 140.16	7.67 380.77	31.85 2,277.07	34.05 2,281.79
	¢) Cthar aypenses Total expenses	2,457.09	877.75	1,101.91	5,062.86	5,018.37 1,363.05
	3 Profit / (Loss} before exceptional items and tax (1-2) Erceptional mams (Refer Note 4)	(1,275.22) 18.41	376.46 =	222.18 -	(514.02) 18.41
	Profit / (Loss) before tax (3-4) [Tax expense	(1,293.63)	376.46	222.18	(532.43)	1,363.05
	> Current tax (ingluding prior period)	(252.53) 32.12	121,76 (17.04)	33.11 35.56	(7.18)	212.90 269.92
	- Deferred tax 7 Net profit / (loss) for the year (5-6)	(1,073.22)	271.74	153.51	(525.25)	973.21
	B Other comprehensive income / (1055) lems that will not be reclassified to the statement of profit and Loss
	fa) Actuanal gain / (loss) on defined benefit obiigatas (b}) income tax relating to stems that will not be	5.12	*	(4.60) 137	(2.78)	9.74 (2.81)
	reciassified to the statement of profit or loss Total other comprehensive income / (loss) (Net of tax)	5.12	*	: (3.23)	(2.78)	ie 6.93
	ae income / (loss) for the year	(1,068.10)	274.74	150.28	(528.03)	980.14
			1,525.88	1,525.68	1,525.88	1,525.88
	Pacd-up equity share capital (Face value of Rs. 5/- each) Number of equity shares	1,525.98 30,517,605	30,527,505	30,517,605	30,517,605 6,746.55	30,517,605 7,274.55
	Reserves (Otner Equity)
	Earnings per equity share (EPS) [Face value of Rs. 5/- i		0.89	0.50	(1.72)	39
	1 (a} Basic EPS to) Culuted EPS	(3.52) (3.52) [not	0.89	0.50 [not annuatised) [notannualised)	(1.72) (Annualised)	3.19 [Annuatised)
!	Netes: The above financial results of the Company were revrewed by the Audit The Financial Results are prepared in accordance wth the Indian Accounting Standards (Ind-A5) as prescribed under Section 133 of the Companies Act, 2013 read with the relevant rues issued thereunder.		Commottee and approved by the Board of Directors		in its meeting held on 20th Juty 2020.
	Tha Company operates in a single segment, 1.¢., "Informabon And Technology Serpees" and hence, does not have any add:nonal disclosures to be made under Ind 45 108 - Operating Segments.
	tt is challenging to predict tne full economic impact of COVID 19, whch had affected the global business during the quarter. However, informabon available, had made assessment of the situation, which ied to form a view that COVID 19 does not materially affect the financial position at the end of finanoal year. The eventual outcome of impact of the glooal neath pandemic may be different from thase estimated as on the date of approval of these financal statements and the Company wil keep montonng the uncertaintses caused by the pandemic to assess its impact our future economic conditions.					the Company, based on the
	During the current financial year the Company has impaired the enwestment wn ts subsiday BX Miles Software Sennces FZE UAE amounting 19 RS 18.93 lacs Statement of standalone finannal results ndiuces foregn exchange gain / (loss) as given below:
5		Quarter Ended 31 Mar 2020	Quarter Ended 31 Dec 2019	Quarter Ended 31 Mar 2019	Year Ended 31 Mar 2020	'Year Ended 31 Mar 2018
	eee z \		138.15	(24.65)	300.35	420.06
	\Fore:gn excnange gain (loss) included under: ie) Other Income	159.17
					By Order of the Board
					For and behalf of the Board of Directors
					/	Co b

	Place: Chennai Date 30th Juty 2020				Suresh Venkatachari Managing Director

eee z	Quarter Ended 31 Mar 2020	Quarter Ended 31 Dec 2019	Quarter Ended 31 Mar 2019	Year Ended 31 Mar 2020	'Year Ended 31 Mar 2018
\Fore:gn excnange gain (loss) included under: ie) Other Income	159.17	138.15	(24.65)	300.35	420.06
				By Order of the Board For and behalf of the Board of Directors
				Co	b

8K MILES SOFTWARE SERVICES LIMITED