SIGMA ADVANCED SYSTEMS LIMITED — Interim / Quarterly Report 2018

Nov 13, 2018

MEGASOFT LIMITED

CIN : 172200TN1999?LC042730 Block "A" Wing 1, Level 5 & 6, Cyber cateway f4adhapur, Hyderabad - 500081 Telangana, India. Tel : +91 {40) 4033 0000; Fax : +91 (40) 4013 3555 : www.megasoft.com

-website

Date:13.11.2018

National Stock Exchange of India Limited Exchange Plaza Ba ndra-Kurla Complex, Ba ndra(E) Mumbai 400051

Symbol: MEGASOFT

Dear Sirs,

BSE Limited

Dalal Street, Fort Mumbai 400001

Scrip Code: 532408

Phiroze JeeJee Bhoy Towers

Sub: Outcome of the Board Meeting held on November 13, 2018

We refer to our letter dated November 05, 2018 intimating you of the convening of the meeting of the Board of Directors of our company. ln this regard, we wish to inform that the Board of Directors of our Company met today & approved the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2018 in the format prescribed under Regulation 33 of the SEBI (IODR) Regulations, 2015 and pursuant to SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. In this connection we enclose the followinp

• a. Standalone Unaudited Financial Results for the quarter and halfyear ended September 30,
• b. Auditors'Limited Review Report on above standalone unaudited financial results
• c. Consolidated Unaudited Financial Results for the quarter and half year ended September 30,
• d. Auditors'Limited Review Report on above co nsolid ated dr na ud ited financial results.

Further, at the said Board Meeting CS Srivalli Susarla (Ms) was appointed as Company Secretary and Compliance Officer of the Company in place of CS Nithisha N (Ms) who resigned from the said office.

Pursuant to Regulation 47 of the SEBI (LODR) Regulations, 2015and abovementioned SEBI circular, we would be publishing an extract of the financial results in the prescribed format in English and Tamil Newspapers within the stipulated time. However the financial results {Standalone & Consolidated) would be available on the website of the Company i.e. at http://megasoft.com/investorservices.htmland also on the websites of the stock exchanges i.e. www.bseindia.com anq www. nseindia.com

We further wish to inform that the Meeting of the Board of Directors of the company commenced at 10:00 a.m. and concluded at h ', lr 5 p.m.

Kindlv take the information on record.

G.V. Kumar Managing Director & CEO For MEGASOFT LIMITED

N.C. RAJAGOPAL & CO..

CHARTERED ACCOUNTANTS

Partners:

t::i

N.C. SUNDARARA'AN, F.C.A. GN. GOPALARATHNAM, B.Sc., F.C.A., DISA V. ANANTHARAMAN. B.Com.. F.C.A. M.V. RENGARA"'AN, N.D.COM,. F.C.A,

22, V. KRISHNASWAMY AVENUE, LUZ CHURCH ROAD, IIIYIAPORE, cHENNAt - 600 004.

SUMITHRA RAVICHANDRAN, B.Sc., F.C.A. N.C. VIJAYKUMAR, B.Com,, F.C.A., D|SA V. CHANDMSEKAMN, B.Com., F.c.A. N. SUNDAR, B.ScrF.C.A., D|SA ARJUN .S, B.Com., A.C.A.

Ref: Date:13 lltluot8

Limited Review Report on standalone euarterlv and Halfyearlv Financial Results of the Companv Pursuant to the Resulation 33 of the SEBt (Listins Oblisations and Disclosure Requirements) Reeulations, 2015

To

The Board of Directors of Megasoft Limited

we have reviewed the accompanying statement of standalone Unaudited Financial Results of Megasoft Limited (The Company') for the quarter and half year ended 30 September 2018('the statement') attached herewith, being submitted by the company pursuant to the requirements of ReBulation 33 0f the sEBt (LoDR) Regulations,2ol5 as modified bv sEBl Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016.

This statement is the responsibility of the Company,s Management and has been approved by the Board of the Directors. our responsibility is to issue a report on the statement based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial information performed by the Independent Auditor of the Entity" issued by the Institute of Charted Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable Indian Accounting Standards (lnd As) prescribed under section 133 of the companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 and other recognized accounting practices and principles, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEB| (LODR) Regulations, 2015 read

with its refevant circulars and SEBI Circular No. CIRICFD/FAC|62/2016 dated July 5,2015, including the manner in which it is to be disclosed,or that it contains any material misstatement.

For N.C.Rajagopal& Co., Chartered Accountants Firm Reg: 0033985

,/ -innai \A \i, v-6a4 Je #v

Arjun S (Partner) M.No.230448

Place: Hyderabad Date:13-11-2018

FINAL

Megasoft Limited

Registered Office: #85, Kutchery Road, Mylapore, Chennai, India - 600 004

Corporate Office : Block 'A' Wing 1, Level 5 & 6, Cyber Gateway, Madhapur, Hyderabad - 500081. Telangana, India.

Unaudited Financial Results For The Quarter and Six Months Ended On September 30,2018

CIN: L72200TN1999PLC042730, Phone: +91-44-24616768 Fax: +91-44-24617810, Email: investors@megasoft.com

Part I							(Rs) In Lakhs
		Standalone
			Quarter Ended			Year to date	Year ended
	Particulars	30/09/2018(Unaudited)	30/06/2018(Unaudited)	30/09/2017(Unaudited)	30/09/2018(Unaudited)	30/09/2017(Unaudited)	31/03/2018(Audited)
	Revenue from Operations	304.21	358.69	292.94	662.90	753.67	2,851.34
$\vert$	Other Income	119.42	165.94	21.94	285.36	55.96	99.13
III	Total Revenue (I + II)	423.63	524.63	314.88	948.26	809.63	42,950.47
$\mathsf{IV}$	Expenses:
a	Cost of materials consumed	3.84	8.82	$\cdot$	12.66	80.00	899.22
$\mathbf b$	Purchases of Stock-in-Trade
$\mathsf{C}$	Changes in inventories of finishedgoods, Stock-in-Trade and work-in-progress
d	Employee benefits expense	321.97	329.83	397.55	651.80	796.62	1,588.50
e	Finance costs	83.04	80.48	83.68	163.52	157.17	322.83
$\mathsf{f}$	Depreciation and amortisationexpense	11.68	11.28	20.53	22.96	40.53	65.89
g	Other expenses	235.47	152.74	175.63	388.21	340.23	628.23
	Total Expenses (IV)	656.00	583.15	677.39	1,239.15	1,414.55	3,504.67
$\mathsf{V}$	Profit/ (Loss) before exceptionalitems and tax (III - IV)	(232.37)	(58.52)	(362.51)	(290.89)	(604.92)	(554.20)
VI	Exceptional items
VIIVIII	Profit/ (Loss) after exceptionalitems and before tax (V - VI)Tax expense:	(232.37)	(58.52)	(362.51)	(290.89)	(604.92)$\lambda$	(554.20)
a	Current tax
b	Deferred tax	ä,					(60.23)
IX	Total tax expenses						(60.23)
	Net movement in regulatorydeferral account balances relatedto profit or loss and the relatedX deferred tax movement
XI	Profit (Loss) for the period fromcontinuing operations (VII-IX+X)Profit/(loss) from discontinued	(232.37)	(58.52)	(362.51)	(290.89)	(604.92)	(493.97)
	XII operations
	Tax expense of discontinuedXIII operations				O ff

$\sigma$

Profit/(loss) from Discontinued
Share of profit (loss) of associatesand joint ventures accounted for
A 1. ltems that will not be
2. lncome tax relating to these
itemsB. 1. ltems that will be
Profit/loss attributable to owners
Total profit/loss attributable tonon-controllins interests
Total Comprehensive income for
Comprehensive income for the
period attributable to owners of
Total comprehensive income forperiod attributable to owners
(face value of the share shall be
Reserves excluding revaluationreserve
Earnings per equity share for
Basic earnings (loss) per share
Diluted earnings {loss) per share
Earnings per equity share for

{1 il

Diluted earnings (loss) per share from discontinued operations c Earnings per equity share Basic earnings (loss) per share from continuing and discontinued operations (0.s2) {0.13) (0.82) (0.65) (7.37) (1.061 Diluted earnings (loss) per share from continuing and discontinued operations (0.s2) {0.13) (0.82) (0.55) (r.37J (1.06) XXVI Disclosure of notes on financial results ,/.-l;", //,.4- For Mesasoft Limited '1)... 7.'' u. GV KUMAR \v l* ..j' CEO & Managing Director Date:13.11.20L8 -<:: Place: Hyderabad

i. N.C. RAJAGOPAL & CO., CHARTERED ACCOUNTANTS

Partners: N,C. SUNDAMRA.'AN. FC.A. GN. GOPALARAIHNAM, B.Sc., F.C.A", DISA V. ANANTHARAMAN, B.Com., F.C.A. M.V. RENGARA.'AN, N,O.COM,, F.C,A.

Ref:

22, V. KRISHNASWAIWAVENUE, LUZ CHURCH ROAD, IVIYLAPORE, cHENNAt -600 004.

SUMITHRA RAVICHANDRAN, B.Sc.. F.C.A. N.C. VIJAYKUMAR, B.Com,, F.C-A., D|SA V CHANDRASEKAMN, B.Com., F.C.A. N. SUNDAR, B.SC.'.F.C.A., DISA ARJUN.S, B.Com.,A.C.A.

Dac: t3lt\lLe\t

Requirements) ReFulations' 2015

To

Board of Directors of Megasoft Limited t

we have reviewed the consolidated financial results of Megasoft Limited for the quarter and half year ended 30 september 2018 attached herewith, being submitted by the company purs;ant to the requirement of Regulation 33 of the SEBI (Listing ObliSations and Disclosure Requirements) Regulations, 2015 as modified by sEBl circular No. clR/cFD /F AC/62l2015 dated July 5, 2016. These consolidated financial results have been prepared from consolidated interim financial statements, which are the responsibility of the company's management' our responsibility is to issue a report on the statement based on our review of such consolidated interim financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard for Interim Financial Reporting (lnd AS 34), mandated under section 133 ofthe companies Act, 2013 read with relevant rules issued thereunder or by the Institute of chartered Accountants of India, as applicable and other accounting principles generally accepted in lndia'

weconductedourreviewinaccordancewiththestandardonReviewEngagement(sRE)2410, ,,Review of Interim Financial information performed by the lndependent Auditor of the Entity" issued by the Institute of charted Accountants of lndia. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel andana|ytica|proceduresapp|iedtofinancia|dataandthusprovides|essassurancethanan audit. We have not performed an audit and accordingly, we do not express an audit opinion'

These interim financial statements and other financial information of foreign subsidiaries have beenconsideredbasedonunauditedfinanciaIstatementsprovidedbytheManagement.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable lndian Accounting Standards (lnd As) prescribed under section 133 of the companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 and other recognized accounting practices and principles, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (LODR) Regulations, 2015 read with its relevant circulars and SEBI Circular No. CIR/CFD/FAC/62|2016 dated July 5, 2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For N.C.Rajagopal& Co;, Chartered Accountants Firm Reg:

Arjun S I-l b00 ur, t /aa \*#

(Partner) M.No.230448

Place: Hyderabad Date: 13-11-2018

FINAL

Megasoft Limited

Registered Office: #85, Kutchery Road, Mylapore, Chennai, India - 600 004 Corporate Office : Block 'A' Wing 1, Level 5 & 6, Cyber Gateway, Madhapur, Hyderabad - 500081. Telangana, India.

Unaudited Financial Results For The Quarter and Six Months Ended on September 30,2018

CIN: L72200TN1999PLC042730, Phone: +91-44-24616768 Fax: +91-44-24617810, Email: investors@megasoft.com

Part II							(Rs) In Lakhs
					Consolidated
			Quarter Ended		Year to date		Year ended
	Particulars	30/09/2018(Unaudited)	30/06/2018(Unaudited)	30/09/2017(Unaudited)	30/09/2018(Unaudited)	30/09/2017(Unaudited)	31/03/2018(Audited)
	Revenue from Operations	1,417.01	1,409.00	1,631.09	2,826.01	3,193.56	6,625.94
$\mathbf{I}$	Other Income	121.13	165.94	21.94	287.07	55.96	99.13
Ш	Total Revenue (I + II)	1,538.14	1,574.94	1,653.03	3,113.08	3,249.52	6,725.07
IV	Expenses:
a	Cost of materials consumed	452.49	445.50	602.37	897.99	990.02	2,158.34
b	Purchases of Stock-in-Trade
	Changes in inventories of finished
$\mathsf{C}$	goods, Stock-in-Trade and work-in-
d	Employee benefits expense	496.18	497.40	501.32	993.58	1,018.65	2,045.82
e	Finance costs	148.16	140.49	135.47	288.64	258.88	519.87
	Depreciation and amortisation exp	96.39	92.27	123.65	188.66	246.66	431.16
g	Other expenses	391.78	346.75	367.13	738.53	784.44	1,460.98
	Total Expenses (IV)	1,585.00	1,522.41	1,729.94	3,107.40	3,298.65	6,616.17
v	Profit/ (Loss) before exceptionalitems and tax (III - IV)	(46.86)	52.53	(76.91)	5.68	(49.13)	108.90
VI	Exceptional items
VII	Profit/ (Loss) after exceptionalitems and before tax (V - VI)	(46.86)	52.53	(76.91)	5.68	(49.13)	108.90
VIII	Tax expense:
a	Current tax
$b$	Deferred tax						(60.23)
IX	Total tax expenses						(60.23)
X	Net movement in regulatorydeferral account balances related toprofit or loss and the relateddeferred tax movement
XI	Profit (Loss) for the period fromcontinuing operations (VII-IX+X)Profit/(loss) from discontinued	(46.86)	52.53	(76.91)	5.68	(49.13)	169.13
XII	operations
	Tax expense of discontinued
XIII	operations
XIV	Profit/(loss) from Discontinuedoperations (after tax) (XII-XIII)
XV	Share of profit (loss) of associatesand joint ventures accounted forusing equity method
XVI	Profit (Loss) for the period (XI+XIV-XV)	(46.86)	52.53	(76.91)	5.68	(49.13)	169.13
XVII	Other Comprehensive Income						28.13
	A 1. Items that will not bereclassified to profit or loss:

	B. 1. Items that will be reclassified
	to profit or loss:
	2. Income tax relating to these
	items
	Total Comprehensive income for					ö.
XVIII	the year (XVI+XVII)	(46.86)	52.53	(76.91)	5.68	(49.13)	197.26
XIX	Total profit or loss, attributable to
	Profit/loss attributable to owners of
	parentTotal profit/loss attributable to non-
	controlling interests
	Total Comprehensive income for
	XX the period attributable to
	Comprehensive income for the
	period attributable to owners of
	parent
	Total comprehensive income for the
	period attributable to owners of
	parent non-controlling interests
XXI	Details of equity share capital
$\overline{a}$	Paid-up equity share capital	4,427.00	4,427.00	4,427.00	4,427.00	4,427.00	4,427.00
	(face value of the share shall be
	b indicated)	10.00	10.00	10.00	10.00	10.00	10.00
	XXII Details of debt securities
	Reserves excluding revaluation
	XXIII reserve	9,639.68	9,247.93	8,925.00	9,639.68	8,925.00	9,101.04
XXIV	Debenture redemption reserve
XXV	Earnings per share:
	Earnings per equity share for
	a continuing operations
	Basic earnings (loss) per share from
	continuing operations	(0.10)	0.12	(0.18)	0.01	(0.11)	0.45
	Diluted earnings (loss) per share
	from continuing operations	(0.10)	0.12	(0.18)	0.01	(0.11)	0.45
	Earnings per equity share for
b	discontinued operations
	Basic earnings (loss) per share from
	discontinued operations
	Diluted earnings (loss) per share
	from discontinued operations
c	Earnings per equity share
	Basic earnings (loss) per share from
	continuing and discontinued
	operations	(0.10)	0.12	(0.18)	0.01	(0.11)	0.45
	Diluted earnings (loss) per share
	from continuing and discontinued
	operations	(0.10)	0.12	(0.18)	0.01	(0.11)	0.45
	Disclosure of notes on financial
XXVI	results
				O			For Megasoft Limited
				6
				កច	portin	$\checkmark$
				۵	VIEGA		GV KUMAR
							CEO & Managing Director
	Date: 13.11.2018
Place: Hyderabad

PEINAL

Megasoft Limited

Registered Office: #85, Kutchery Road, Mylapore, Chennai, India - 600 004

Corporate Office : Block 'A' Wing 1, Level 5 & 6, Cyber Gateway, Madhapur, Hyderabad - 500081. Telangana, India.

Unaudited Financial Results For The Quarter and Half year ended on September 30, 2018

CIN: L72200TN1999PLC042730, Phone: +91-44-24616768 Fax: +91-44-24617810, Email: investors@megasoft.com

(Rs) In Lakhs

Unaudited Financial Statement of Asset and Liabilities

	Particulars	Standalone		Consolidated
		As at 30.09.2018 As at 31.03.2018 As at 30.09.2018			As at 31.03.2018
	Assets
$\mathbf{1}$	Non-current assets
	Property, plant and equipment	1,193.62	1,274.15	4,222.32	3,951.08
	Capital work-in-progress	6,081.40	5,761.40	6,081.40	5,761.40
	Investment property
	Goodwill
	Other intangible assets			10,157.50	10,157.50
	Intangible assets under development
	Biological assets other than bearerplants
	Investments accounted for using equitymethod
	Non-current financial assets
	Non-current investments	5,617.08	5,617.08
	Loans
	Trade receivables, non-current
	Other non-current financial assets	119.08	113.52	119.08	113.52
	Total non-current financial assets	13,011.18	12,766.15	20,580.30	19,983.50
	Deferred tax assets (net)	91.74	91.73	91.74	91.74
	Other non-current assets	17.22	22.95	17.21	22.95
	Total non-current assets	13,120.14	12,880.83	20,689.25	20,098.19
$\overline{2}$	Current assets
	Inventories
	Current financial asset
	Current investments
		igd4,593.92	4,750.18	6,970.98	7,461.41
	Trade receivables, current	0.16	8.83	0.16	61.54
	Cash and cash equivalents
	Bank balance other than cash and cash
	equivalents	87.17	28.30	105.90	28.30
	Loans, current
	Other current financial assets
	Total current financial assets	4,681.25	4,787.31	7,077.04	7,551.25
	Current tax assets (net)	454.57	454.57	454.57	454.57
	Other current assets	7,110.71	7,115.87	1,761.12	1,578.96
	Total current assets	12,246.53	12,357.75	9,292.73	9,584.78
3	Non-current assets classified as held forsale
$\overline{4}$	Regulatory deferral account debitbalances and related deferred tax
	AssetsTotal assets				29,682.97
		25,366.67	25,238.58	29,981.98
	Equity and liabilities
$\mathbf{1}$	Equity
	Equity attributable to owners of parent
	Equity share capital	4,426.73	4,426.73	4,426.73	4,426.73
	Other equity	9,443.75	9,734.61	9,639.68	9,101.05
	Total equity attributable to owners of
		12 070 40	$11.16121$	1 A O G G A

Non controlling interest
Total equity	13,870.48	14,161.34	14,066.41	13,527.78
Liabilities$\overline{2}$
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current
Trade payables, non-current
Other non-current financial liabilities	901.13	861.79	901.13	861.79
Total non-current financial liabilities	901.13	861.79	901.13	861.79
Provisions, non-current
Deferred tax liabilities (net)	165.69	165.86	165.69	165.86
Deferred government grants, Non-current
Other non-current liabilities
Total non-current liabilities	1,066.82	1,027.65	1,066.82	1,027.65
Current liabilities
Current financial liabilities
Borrowings, current	1,510.31	1,699.43	4,521.02	4,704.46
Trade payables, current	2,307.09	2,269.25	2,195.56	2,686.47
Other current financial liabilities	78.23	116.82	1,563.03	1,601.62
Total current financial liabilities	3,895.63	4,085.50	8,279.61	8,992.55
Other current liabilities	5,978.90	5,543.51	5,982.83
Provisions, current	554.84	420.58	586.30	561.91
Current tax liabilities (Net)				5,573.08
Deferred government grants, Current
Total current liabilities	10,429.37	10,049.59	14,848.74	15,127.54
Liabilities directly associated with assetsin disposal group classified as held for3sale
Regulatory deferral account creditbalances and related deferred taxliability4
Total liabilities	11,496.19	11,077.24	15,915.57	16,155.19
Total equity and liabilites	25,366.67	25,238.58	29,981.98	29,682.97
Disclosure of notes on assets andliabilities	Š		Oit
			SHA在建	For Megasoft Limited
		Ō.Ø	AECASOEΦ
Date: 13.11.2018		S		GV Kumar
Place: Hyderabad				CEO & Managing Director

1. The above results were reviewed by the Aldit / Risk & Compliance Committee and approved by the Eoard of Directors at their meeting on 13 November 2018.

2. The Company has a single reportable segment that of telecom and has been disclosed in accordance with SEBt (LODR) regulation/ 2015.

3. Previous periods' fiSures have been rearranged wherever necessary to conform to the current period tlassifications/ disclosures.

4. PursuanttotheprovisionsoftheSESl l"lsting Regulations, an extractofStandalone &Consolidated financial results is being published in the newspapers. The standalone and Consolidated Unaudited financial results will be made available on the company's website i.e. at http://megasoft.com/investor-services.html and also on the websites ofthe stock exchanges i.e. www.bseindia.com and www.nseindia.com

PROFILE OF CS SRIVALLI MANDA

CS Srivalli Manda is a Fellow Member of the Institute of Company Secretaries of India. She has been a member of the institute since August 2011. She is also a Member of IMA, Institute of Management Accountants, USA and a semi qualified CA (ICAI). She has done her Post graduation in Business Management with specialization in Finance from American University of Hawaii.

Srivalli Manda was previously working as the Company Secretary of Pioneer Power Infra Limited since August 2011. She has around 7+ yrs of post qualification experience and overall 9+ yrs of experience in handling Secretarial matters.