SIGMA ADVANCED SYSTEMS LIMITED — Interim / Quarterly Report 2021

Feb 12, 2021

N4EGASOFT LIMITED

CIN : L72200TN1999P1C042730 My Home Hub, 1st Floor, Block-3, Madhapur, Hyderabad - 500081, Telangana, India. Tel +9i (40) 4033 0000; Fax : +91 (40) 4013 3555 website : www.meoasoft.com

12th February,2021.

To

Bombay Stock Exchange Limited Phiroze feef ee Bhoy Towers Dalal Street, Fort Mumbai 400001 Scrip Code: 532408

National Stock Exchange of India Limited Exchange Plaza Bandra-Kurla Complex, Bandra(E) Mumbai 40005L Symbol: MEGASOFT

Sub.: Outcome of the Board Meeting held on February 12tn,2O2L.

Dear Sir/Madam,

We refer to our letter dated February 04, 202L & February 09, 202L and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20'J.5, as amended (SEBI Listing Regulations), we wish to inform that the Board of Directors of the Megasoft Limited (the "Company") at its meeting held on February \2,202I inter alia, has considered and approved the following:

• L Standalone Unaudited Financial Results for the quarter and nine months ended December 31,, 2020.
• 1. Auditors'Limited Review Report on above Standalone unaudited financial results.
• 1. Consolidated Unaudited Financial Results for the quarter and nine months ended December 3I,2020.
• 1. Auditors'Limited Review Report on above consolidated unaudited financial results.
• 1. Raising of funds by way of offer and issue of equity shares to the existing shareholders of the Company on a rights basis [Rights Issue).

The Board has constituted a Committee of Directors (the Committee) for the above purpose and has authorised the Committee to determine the terms of the Rights Issue including the quantum of issue, rights entitlement ratio, issue price, issue size, book closure or record date, entitlemen! timing of the issue, etc., in consultation with the Lead Manager to the Right Issue and to decide all other matters relating to the Right Issue. Such details shall be informed and/or announced in due course as and when decided or required, as per applicable statutory provisions and depending upon the market conditions.

The above proposal to issue of shares shall be subject to necessary approvals, confirmations and consents as may be necessary and in compliance with applicable law including the provisions of the Securities and Exchange Board of India (lssue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013 and the Rules made there under.

We further wish to inform that the Meeting of the Board commenced at 11:00 a,m. and concluded at of Directors of the company

Kindly take the information on record.

Thanking you,

Megasoft Limited

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

Corporate Office : 01st Floor, Block-3, My Home Hub, Madhapur, Hyderabad - 500081. Telangana, India.

Unaudited Financial Results For Quarter and Nine Months Ended On December 31, 2020

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

Quarter Ended30/09/2020(Unaudited)404.43127.07531.506.70207.7075.7582.35	Standalone31/12/2019(Unaudited)499.22186.55685.7731.69216.54100.88	Year to date31/12/2020(Unaudited)1,248.84404.401,653.2425.08621.78	31/12/2019(Unaudited)1,369.64489.661,859.3083.00	Year ended31/03/2020(Audited)2,034.40650.282,684.68102.33
			620.39	775.73
		209.14	287.00	366.67
	81.66	259.79	252.55	344.73
130.00	221.86	381.13	549.49	1,043.26
502.50	652.63	1,496.92	1,792.44	2,632.73
29.00	33.14	156.32	66.86	51.94
29.00	33.14	156.32	66.86	51.94
		9.00
				(3.78)
		9.00		(3.78)
29.00	33.14	147.32	66.86	55.73
19.969.0010.96		ဖ	ര

Share of profit (loss) of associates and
joint ventures accounted for using
A 1. ltems that will not be reclassified
to profit or loss:
2. Income tax relating to these items
B. 1. ltems that will be reclassified to
2. Income tax relating to these items
Total Comprehensive income for the
year (XVl+XVll)
Total profit or loss, attributable to
Profit/loss attributable to owners of
oarent
Total profit/loss attributable to non
controlling interests
Total Comprehensive income for the
Comprehensive income for the period
butable to owners of oarent
Total comprehensive income for the
period attributable to owners of parent
non-controlling interests
(face value of the share shall be
indicated)
		7,633.74
Basic earnings (loss) per share from
Diluted earnings (loss) per share from
Earnings per equity share for
Basic earnings (loss) per share from

	Place: Hyderabad		r'	(	-'tl' -z-/
	Date 1L2.O2.2021;			q[ 3]lo\			CEO & Manaeins Director
					o / :u.- \s		GV KUMAF
							z
							For MegasoftJinritd
XXVI	Disclosure of notes on financial results
	Diluted earnings (loss) per share fromcontinuing and discontinued operations	o.o2	0.07	0.07	0.33	0.15	0.13
	Basic earnings (loss) per share fromcontinuing and discontinued operations	0.02	0.07	0.07	0.33	0.15	0.13
c	Earnings per equity share
	discontinued operations
	Diluted earnings (loss) per share from

N.C. RAJAGOPAL & CO., CHARTERED ACCOUNTANTS

Partners: N.C. SUNDARARAJAN, F.C.A. G.N. GOPALARATHNAM, B.Sc., F.C.A., DISA V. ANANTHARAMAN, B.Com., F.C.A. M.V. RENGARAJAN, N.D.COM., EC.A.

Ref:

22, V. KRISHNASWAMY AVENUE. LUZ CHURCH ROAD, MYLAPORE. CHENNAI - 600 004.

SUMITHRA RAVICHANDRAN, B.Sc., F.C.A. N.C. VIJAYKUMAR, B.Com., F.C.A., DISA V. CHANDRASEKARAN, B.Com., F.C.A. N. SUNDAR, B.Sc., F.C.A., DISA ARJUN.S, B.Com., F.C.A.

Date:

Independent Auditor's Review Report On Standalone Unaudited Quarterly and Year to Date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Review report to The Board of Directors of Megasoft Limited

We have reviewed the accompanying statement of unaudited financial results of Megasoft Limited for the period ended 31x December, 2020. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. 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 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.

For N.C. Rajagopal & Co.,

Chartered Accountants

(Firm Regn No.: 003398S) Chennal 600 004 Ariuh Fed N Partner

(Membership No.: 230448) UDIN:21230448AAAAB06493

Place : Chennai Date $: 12.02.2021$

Megasoft Limited

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

Corporate Office : 01st Floor, Block-3, My Home Hub, Madhapur, Hyderabad - 500081, Telangana, India,

Unaudited Financial Results For Quarter and Nine Months Ended On December 31, 2020

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

Part II							(Rs) In Lakh:
		Consolidated
			Quarter Ended			Year to date
Particulars		31/12/2020(Unaudited)	30/09/2020(Unaudited)	31/12/2019(Unaudited)	31/12/2020(Unaudited)	31/12/2019(Unaudited)	31/03/2020(Audited)
F	Revenue from Operations	1,510.58	1,537.58	1,625.97	4,398.17	4,113.12	5,673.26
$\mathbf{H}$	Other Income	129.04	127.07	186.55	404.49	489.66	650.28
Ш	Total Revenue (I + II)	1,639.62	1,664.65	1,812.52	4,802.66	4,602.78	6,323.54
IV	Expenses:
a	Cost of materials consumed	409.66	553.40	535.56	1,363.33	1,166.28	1,644.82
$\mathbf b$	Purchases of Stock-in-Trade
	Changes in inventories of finished
	c goods, Stock-in-Trade and work-in-
$\mathsf{d}$	Employee benefits expense	326.53	333.64	321.79	970.91	953.30	1,246.41
e	Finance costs	138.42	138.34	200.61	410.38	540.21	682.82
f	Depreciation and amortisation exp	101.60	109.72	133.35	332.46	401.83	437.58
g	Other expenses	638.13	456.40	507.63	1,550.45	1,314.47	2,244.98
	Total Expenses (IV)	1,614.34	1,591.50	1,698.94	4,627.53	4,376.09	6,256.61
	Profit/ (Loss) before exceptional$V$ litems and tax (III - IV)	25.28	73.15	113.58	175.13	226.69	66.93
VI	Exceptional items
VII	Profit/ (Loss) after exceptionalitems and before tax (V - VI)	25.28	73.15	113.58	175.13	226.69	66.93
VIII	Tax expense:
$\mathsf{a}$	Current tax	9.00			9.00
b.	Deferred tax		0.01				(3.78)
X	Total tax expenses	9.00			9.00		(3.78)
	Net movement in regulatorydeferral account balances related toprofit or loss and the relatedX deferred tax movement
	Profit (Loss) for the period from
XI	continuing operations (VII-IX+X)	16.28	73.14	113.58	166.13	226.69	70.71
	Profit/(loss) from discontinued
	XII operations
	Tax expense of discontinued
	XIII operations
	Profit/(loss) from DiscontinuedXIV operations (after tax) (XII-XIII)

$\mathcal{C}{\mathcal{C}{\mathcal{A}}}$ $eg$ as $A - 6$

Share of profit (loss) of associatesand joint ventures accounted forusing equity method
Profit (Loss) for the period (Xt +
i.) Remeasurement of post
ii) Changes in Revaluation surplus
2. Income tax relating to these itemsB. 1. ltems that will be reclassified
i) Fair value changes in Equity
2. Income tax relating to these items
Total profit or loss, attributable to
Profit/loss attributable to owners of
oarent
Total profit/loss attributable to non
Total Comprehensive income for
Comorehensive income for the
attributable to owners of
Total comprehensive incbme for the
attributable to owners of
t non-controllins interests
(face value of the share shall be
indicated)
Reserves excluding revaluation
reserve
Earnings per equity share for
Basic earnings (loss) per share from
Diluted earnings (loss) per share
Earnings per equity share for
Basic earnings (loss) per share from

Diluted earnings (loss) per sharefrom discontinued operations
Earnings per equiW share
Basic earnings (loss) per share fromcontinuing and discontinuedoperations						0.1(
Diluted earnings (loss) per sharefrom continuing and discontinued						0.16
Disclosure of notes on financialresults
						*a
						/
			o){			GV KUMAR
						CEO & Managing Director
)ate I L2.02.2O21
Place: Hyderabad
	operations	0.040.04	o.t70.t7	o.26o.26qr-<br>\Z\Z	0.380.38,Z-tR<br>65(N	0.510.51for fVqrve/t.' -

NOTES:

• 1. The above results were reviewed by the Audit / Risk & Compliance Committee and approved by the Board of Directors at their Meetings held on LZth Febru ary 202L.
• 1. The Company has a single reportable segment, that of telecom and has been disclosed in accordance with SEBI (LODRJ Regulations, 201_5.
• Previous periods' figures have been rearranged wherever necessary to conform to the current period classifications/ disclosures.
• 1. Pursuant to the provisions of the SEBI Listing Regulations, an extract of Standalone & 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 and also on the websites of the stock exchanges i.e. www,bseindia.com and www.nseindia.com.

N.C. RAJAGOPAL & CO.,

CHARTERED ACCOUNTANTS

Partners.

Ref:

N.C. SUNDARARAJAN, F.C.A. G.N. GOPALARATHNAM, B.Sc., F.C.A., DISA V. ANANTHARAMAN, B.Com., F.C.A. M.V. RENGARAJAN, N.D.COM., EC.A.

22 V KRISHNASWAMY AVENHE LUZ CHURCH ROAD, MYLAPORE. CHENNAI - 600 004.

SUMITHRA RAVICHANDRAN, B.Sc., F.C.A. N.C. VIJAYKUMAR, B.Com., F.C.A., DISA V. CHANDRASEKARAN, B.Com., F.C.A. N. SUNDAR, B.Sc., F.C.A., DISA ARJUN.S.B.Com.,F.C.A.

Date*

Independent Auditor's Review Report On Consolidated unaudited quarterly and year to date financial results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Review report to Board of Directors of Megasoft Limited

1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Megasoft Limited ('The Company') ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter ended 31x December, 2020 and for the period from 1st April, 2020 to 31* December, 2020 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended 31x December, 2020 and the corresponding period from 1st April, 2020 to 31st December, 2020, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review by us.

2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results of the following entities:

• a. Megasoft Consultants SDN BHD
• b. XIUS Holding Inc.
• c. XIUS Corp
• d. XIUS DE RL DE CV

1. Based 0n our review conducted and procedures performed as stated in paragraph 3 above, nothing has come fo our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in lndia, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirementsl Regulations, 201.5, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatemenL

2. We did not review the interim financial results of 4 subsidiaries included in the consolidated unaudited financial resul6 whose interim financial results reflecttotal revenues of Rs. 4,049.21 lakhs and total net profit / (loss] after tax of Rs. 18.82 lakhs and total comprehensive income 1 (loss) of Rs, 18.82 lakhs, for the quarter ended 3].'December,2020 and for the period from 1o' April, 2020 to 31' December, 2020 respectively. The consolidated unaudited finaneial results also includes the Group's share of net profit after tax of Rs. 18.82 lakhs for the quarter ended 31o December,202A and forthe period from t"April,2020 to 3le December,2020, respectively. These interim financial results and other information of foreign subsidiaries have been reviewed by other Auditors whose reports have been furnished to us by the management and our conclusion on the statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other .Auditors and the procedures performed by us stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respec of the above matter.

Place Date : Chennai :72.02.2021

For N.C. RaJagopa} & Co., Chartered

[M embership No.: 730 448) UDIN :2 l230448AAAABP8291