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SoftTech Engineers Limited Interim / Quarterly Report 2024
62093_rns_2024-11-14_4a87c8d6-c021-49d7-b0ca-ae4534f09971.pdf
Interim / Quarterly Report
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Date: November 14, 2024
To,
| National Stock Exchange of India Limited | BSE Limited |
|---|---|
| "Exchange Plaza", C-1, Block – G | Floor 25, Phiroze Jeejeebhoy Towers |
| Bandra – Kurla Complex | Dalal Street, |
| Bandra (East), Mumbai – 400051 | Mumbai – 400001 |
| Symbol: SOFTTECH | Scrip Code: 543470 |
Dear Sir/ Madam,
Subject: Outcome of Board Meeting held on Thursday, November 14, 2024 as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we would like to intimate that the Board of Directors of the Company have, at its meeting held on Thursday, November 14, 2024 which commenced at 1:30 pm and concluded at 3:45 pm have considered and approved the following:
-
- The Board of Directors considered and approved Unaudited Standalone and Consolidated Financial Results of the Company along with limited review report thereon from Statutory Auditors for the quarter ended on September 30, 2024.
-
- Preferential issue of equity shares: Subject to approval of the shareholders of the Company and such other regulatory/ statutory authorities as may be required, the Board of Directors approved the raising of funds upto approximately Rs. 40 crores by creating, issuing, offering and allotting to the extent of 9,87,998 (Nine Lakhs Eighty Seven Thousand Nine Hundred and Ninety Eight only) fully paid up equity shares of face value of Rs. 10/- (Rupees Ten Only) each of the Company to the "Proposed Allotees", the
corporates which presently is not a promoter or member of the promoter group of the Company, by way of a preferential issue on a private placement basis ("Preferential Issue") at an issue price of Rs. 405/- (Rupees Four Hundred and Five only) per equity share which includes a premium of Rs. 395/- (Rupees Three Hundred Ninety Five only) per equity share.
The Preferential Issue shall be undertaken in accordance with the applicable provisions of the Companies Act, 2013 and the rules made thereunder, Chapter V of the Securities and Exchange Board of lndia (Issue of Capital.and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws.
In connection with the above, the Company would seek the requisite approval from its shareholders in due course.
The details in respect of the Preferential Issue, as required to be disclosed under Regulation 30 of the SEBI Listing Regulations, read with the SEBI Circular No. SEBl/HO/CFD/CFD-PoD-1/P/CIR/2023/123 on disclosure of material events/ information by listed entities, dated July 13, 2023 ("SEBI Disclosure Circular") is set out below at Annexure - A and Annexure - B.
Kindly take the same on record.
Thanking You,
Yours faithfully
FOR SOFTTECH ENGINEERS LIMITED
SHALAKA SATISH KHANDELWAL
Digitally signed by SHALAKA SATISH KHANDELWAL DN: c=IN, st=Maharashtra, 2.5.4.20=0ff52ac746976b289e76b59faf4c2c77a579869546f2392 07296924c081dfadb, postalCode=411041, street=FLAT NI D 1 902 GANGA BHAGYODAY SINHAGAD ROAD NEAR MANIBAUG PETROL PUMP PUNE CITY, pseudonym=a3f3c8b1a309141bf53ca4a8e87f6505, serialNumber=c5a400455bb9bb1178c59c80eca2f9d073b1d9c24 f53ed346dd20b5d646eb970, o=Personal, cn=SHALAKA SATISH KHANDELWAL Date: 2024.11.14 15:47:58 +05'30'
SHALAKA KHANDELWAL
COMPANY SECRETARY
Annexure A
Disclosure in terms of Regulation 30 of the SEBI Listing Regulations read with the SEBI Disclosure Circular
| Sr | Particulars | Description |
|---|---|---|
| 1 | Type of securities proposed to be issued (viz. | Equity Shares having a face value of Rs. |
| equity shares, convertibles etc.); | 10/- (Rupees Ten only) per equity shares | |
| 2 | Type of issuance | Preferential allotment on a private rights basis |
| (further public offering, rights issue, depository |
in accordance with the provisions of the |
|
| receipts (ADR/GDR), qualified institutions |
Companies Act, 2013 and the rules made | |
| placement, preferential allotment etc.); | thereunder and Chapter V of the Securities and | |
| Exchange Board of India (Issue of Capital and | ||
| Disclosure Requirements) Regulations, 2018 | ||
| ("SEBI (ICDR) Regulations") and other |
||
| applicable laws. The Preferential Issue will be | ||
| undertaken for cash consideration | ||
| 3 | Total number of securities proposed to be issued or | 9,87,998 (Nine Lakhs Eighty Seven |
| the total amount for which the securities will be | Thousand Nine Hundred and |
|
| issued (approximately); | Ninety Eight only) | |
| 4 | In case of preferential issue the listed entity shall disclose the following additional details to the stock exchange(s) |
|
| a. | Names of the investors | As per Annexure B |
| b. | post allotment of securities | As per Annexure B |
| -outcome of the subscription | ||
| c. | Issue Price | Rs. 405/- (Rupees Four Hundred and Five |
| only) per equity share (which includes a | ||
| premium of Rs. 395/- (Rupees Three |
||
| Hundred and Ninety Five only) per equity | ||
| share. | ||
| d. | Number of investors | As per Annexure B |
| e. | In case of convertibles - intimation on Not |
Not applicable |
| Applicable conversion of securities or on lapse of the | ||
| tenure of the instrument; |
Annexure- B
Proposed Preferential Issue 2024 Category: Non Promoter from Public
| Sr | Name of the |
Category | Pre | Pre | New | Post - |
Post |
|---|---|---|---|---|---|---|---|
| No | Proposed | Preferential | Issue | allotment | Preferential | Issue | |
| Allottee | issue | holding | of Equity | issue | holding | ||
| shareholding | % | Shares | shareholding | % | |||
| 1. | Florintree | Non | 20,00,000 | 15.60% | 2,46,998 | 22,46,998 | 16.27% |
| Technologies | Promoter | ||||||
| LLP | |||||||
| 2, | Einstein Work |
Non | 25,00,000 | 19.50% | 7,41,000 | 32,41,000 | 23.47% |
| Pte. Limited | Promoter |
, CIN: L30107PN1996PLC016zlB
Registered Office: SoftTechTowers, S.No. 1/1A/781S i6.17, ptotNo. B,C,D, 1-Baner,
ri
.':. I ri
i ,.1
Opp. Royal Enfield Showroom, Baner Road, pune: 411045.
website: www.softtech-engr.com, Email: [email protected], Telephone: +91 (20) 67199211
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 3OTH SEPTEMBER 2024 1
| (Rs. ln lakhs)I | ||||||
|---|---|---|---|---|---|---|
| Quarter Ended | Half Year Ended | Year Ended | ||||
| Particulars | September 30 | June 30 2024 | September 30 | September 30 | September 30 | March 31 |
| 2024 | 2023 | 2024 | 2023 | 2024 | ||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| lncome | ||||||
| Revenue from operations | 2,292.55 | 1,973.64 | 1,870.42 | 4,266.19 | 3,75'1.53 | 7,861.3s |
| Other income Total lncome |
69.03 | 52.26 | 53.85 | 121.29 | '1 '10.55 | 262.08 |
| Expenses | 2,351.58 | 2,025.90 | 1,924.27 | 4,387.48 | 3,862.08 | 8,123.43 |
| Purchase of stock-intrade | ||||||
| Employee beneflt expenses | 540.07 | 192.87 | 251.93 | 732.93 | 573.38 | 1,171.61 |
| Finance cost | 639.65 | 539.50 | 480.23 | 1,179.16 | 927.34 | 1 ,937.1 3 |
| Depreciation and amortization expenses | 131.22 402.76 |
127.16 399.93 |
1 19.69 | 258.38 | 239.75 | 455.61 |
| Other expenses | 468.62 | 550.44 | 340.72 474.71 |
802.69 1,019.05 |
667,92 | 1,343.36 |
| Total Expenses | 2,182.32 | 1,809.90 | 1,667.28 | 3,992.22 | 1,050.50 3,458.89 |
2,279.75 |
| 7,187.46 | ||||||
| Profit before tax | 179.26 | 216.00 | 256.99 | 395.26 | 403.19 | 935.97 |
| Tax expense | ||||||
| Current Tax | 73.46 | 85.1 4 | 124.96 | 158.60 | 189.32 | 328.44 |
| Deferred Tax | (23.1 5) | (27.67) | (56.31) | (50.83) | (85 e8) | (104.35) |
| Short/(Excess) provision for previous years | 14.74 | |||||
| Total tax expense | s0.3'l | 57.47 | 68.65 | 107.77 | ||
| 103.34 | 238,t | |||||
| Profit after tax [A] | 't 28.95 | 158.53 | 188.34 | 287.48 | ||
| Other comprehensive income | 299.85 | 697.14, | ||||
| Items that will not be reclassified to profit or loss | ||||||
| Remeasurements of post employment benefit | ||||||
| obligations | (4.07) | |||||
| (4.07) | (11 06) | (8.15) | (11 .06) | (16.2e) | ||
| Remeasurements of investment classified FVTOCI |
35.93 | |||||
| lncome tax relatinq to these items | 3.66 | 3.66 | 2.78 | 7.32 | 2.78 | (4.19) |
| Other comprehensive income for the year, net of tax [Bl | (0.41 | (0.41) | (8.28) | (0.83) | (8.28) | '15.45 |
| fotal comprehensive income for the year [A+Bl | 128.54 | 158.12 | 180.06 | 286.65 | 291 .58 | 712.59, |
| Basic earnings per share | 1.01 | 1.24 | 1.74 | 2.24 | 2.77 | 6.17 |
| Diluted earninqs per share | 1.00 | 1.24 | 1.68 | 2.24 | 2.68 | 6.1f |
| 79Bei\ | .:.{ | |||||
| W ) |
r | |||||
Vijay Gupta ;l 79Bei\ .:.{ F4
\*\
\8e-Tn
- Chairman and Managing Direc DIN: 01653314 Place : Pune Date : 14 November 2024
) t1ro
SoftTech Engineers Limited CIN: 130107PN1996p1C016718
Registered Office: SoftTech Towers, S.No. 1/1Al7 g 1S 16 17, plot No. B,C,D, 1-Baner,
. Opp. Royal Enfield Showroom, Baner Road, pune: 41 1045.
Website: www.softtech-engr.com, Email: [email protected], Telephone: +91 (20) 67189711
UNAUDTTED STANDALONE STATEMENT OF ASSETAND LIABILIT]ES
| Particulars | As at | As at |
|---|---|---|
| September 30 2024 | March 31 2024 | |
| Unaudited | Audited | |
| ASSETS | ||
| Non-current assets | ||
| Property, plant and equipment | 338.88 | |
| 343.90 | ||
| Rightof-use assets | 636.95 | 692.34 |
| Other intangible assets | 3,268.31 | 3,971.31 |
| lntangible assets under development | 2,617.82 | 1,666.21 |
| Financial assets lnvestments |
||
| Other financial assets | 1,590.44 1,382.55 |
1,494.29 1,284.13 |
| Contract assets | 34.32 | 34.32 |
| lncome tax assets (net) | 15.28 | 15.28 |
| Deferred tax assets (net) | 253.61 | 195.45 |
| Other non-current assets | 35.70 | 5.86 |
| Total hon-current assets | 10,,t 73.86 | 9,703.09 |
| Current assets | ||
| Financial assets | ||
| lnvestments | 737.73 | 980.64 |
| Trade receivables | 4,378.83 | 4,635.60 |
| Cash and cash equivalents | 3.28 | 28.82 |
| Bank balance other than above | 0.2'l | 0.21 |
| Other financial assets | 162.19 | 161 .35 |
| Contract assets | 5,574.55 | 4,802.62 |
| Other current assets Total current assets |
105.46 | 70.82 |
| Total assets | 10,962.25 21,136.11 |
10,680.06 |
| EQUITYAND LIABILITIES | 20,383.1 5 | |
| Equi{ | ||
| Equity share capital | 1,281.91 | 1,281.91 |
| Other equity | 12,479.31 | 12,148.15 |
| Total Equity | 13,761.22 | 13,430.06 |
| LIABILITIES | ||
| Non-current liabilities | ||
| Financial Liabilities | ||
| Borrowings | 664.50 | 415.15 |
| Lease liabilities | 578.50 | 625.60 |
| Provisions | 157.39 | 148.90 |
| Total non-current liabilities | 1,400.39 | 1 ,1 89.65 |
| Current Liabilities | ||
| Financial Liabilities Borrowings |
||
| Lease liabilities | 2,934.81 92.04 |
2,720.96 87.79 |
| Trade payables | ||
| Total outstanding dues of micro and small enterprises | '113.15 | 96.45 |
| Total outstanding dues of creditors other than micro and small | ||
| enterprises | 1,320.07 | 920.16 |
| Other financial liabilities | 1,126.68 | 1,334.52 |
| Other current liabilities Provisions |
175.95 | 404.92 |
| Current tax liabilities (net) | 81.69 | 77.28 |
| Total current liabilities | 130.1 1 5,974.50 |
121.36 5,763.44 |
| ii Iotal liabilities |
7,374.89 | 6,953.09 |
| Total equity and liabilities | 21,136.11 | 20,383.1 5 |
W
Vijay Gupta Chairman and Managing DIN:01653314 Place: Pune Date: i4 November 2024
. ;l:-.1 ''.i
CIN: 1301 07pNl 996p1C0167.18 Registered Office: SoftTech Towers, S.No. '111Al7 815'16 17, plot No. B,C,D, 1-Baner,
Opp. Royal Enfield Showroom, Baner Road, pune: 411045.
Website: wvwv.softtech-engr.com, Email: [email protected], Telephone: +91 (20) 6Z1g37jj
UNAUDITED STANDALONE STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 3OTH SEPTEMBER 2024
| Particulars | Half Year Ended | Half Year Ended |
|---|---|---|
| September 30 2024 | September 30 2023 | |
| Unaudited | Unaudited | |
| Cash flow from operating activities | ||
| Net profit before tax | 395.26 | 403.19 |
| Adjustments for | ||
| Depreciation and amortisation expense | 802.69 | 667.92 |
| Provision for doubtful debts net of reversal/ debit balances written off | 0.30 | 134.79 |
| Changes in fair value of financial assets at fair value through profit or loss | (4.e8) | (12.14) |
| Gain on sale of investment | (27.101 | (15.22) |
| Unwinding of discount'on security deposits | (1.771 | (1.78) |
| Dividend and interest income classified as investing cash flows Finance cost |
(66.51) | (39.8s) |
| Net exchange differences | 258.38 | 239.75 |
| Credit balance written back | (21.30) | (3.50) |
| Employee stock option plan | (1.30) | |
| Cash generated from operations before working capitai cfranqes | 44.51 | |
| 1,378.18 | 1,373.16 | |
| Change in operating assets and liabilities | ||
| (lncrease)/Decreas6'in trade receivables | 270.45 | (214.33) |
| lncrease/(Decrease) in trade payables | 417.91 | 285.37 |
| (lncrease)/Decrease in contract assets | (771.e3) | (1,008.58) |
| (lncrease)/Decrease in other current asset | (34.63) | 93.57 |
| (lncrease)/Decrease in other financial assets | (6.81) | |
| lncrease/(Decrease) in other non current assets | (2e.83) | 25.86 34.33 |
| lncrease/(Decrease) in other financial liabilities | 74.',10 | |
| : r'j : :: : ii r*:': Ji :i: . i "#;;;iiiid;aslii ii, i,iovi siiiiis |
-r_;i:. 4.75 |
.99,92 14.83. |
| Increasei(Decrease) in other current liabilities | (229.021 | 36.67 |
| Cash generated from operations | 1,073.17 | 700.85 |
| lncome tqxes paid | (149.86 | 7.03 |
| Net cash generated from operating activities | 923.31 | 707.88 |
| Gash flows from investing activities | ||
| Payments for property, plant and equipment | (43.3e) | (55.5e) |
| Payments for intangibles assets | (1,212.451 | (6e5.78) |
| Purchase of long term investment | (64.e1) | (264.e7) |
| lnvestment in mutual funds (net) | 275.00 | (610.00) |
| Sale of mutual funds | 869.91 | |
| Dividend income lnterest income |
||
| 8.91 | 2.75 | |
| lnvestment in fixed deposits with banks Net cash (used in) investing activities |
(57.00) | 52.82 |
| (1,093.84) | (700.86) | |
| Cash flows from financing activities | ||
| Proceeds from issues of shares/warrants | 1,875.00 | |
| Proceeds from long term borrowings | s+a.oo | |
| Repayment of long term borrowings | (384.18) | (614.34) |
| Net change in short term borrowings | 299.38 | 202.84 |
| Lease payments | (75.e0) | (72.6e) |
| Utilisation of securities premium for warrants issue | (25.00) | |
| lnterest paid | (242.3',t1 | fi77.8A\ |
| Net cash generated from financing activities | 144.99 | 1,188.01 |
| Net increase/ (decrease) in cash and cash equiValents | (25.54) | 1,195.03 |
| Cash and cash equivalents at the beginning of the financial year | 28.82 | 62.06 |
| Cash and cash equivalents at the end ofthe period | 3.28 | 1,257.08 |
| <r //f,0glDe^ " "-*\,3,</r |
Chairman and Managing Dir, DIN: 01653314 Place : Pune Date : 14 November 2024 Vijay Gupta
*unisrered o'ice: sonr""f*,,|?:,,,3'fJ'rn;ffit:o;ur':1., pror No. B,G.D. j-Baner. )yA?)?%.ez/22??a<@faada?@?ds<Zsofr#q7grffi ,aeepff @e.rgf \K/€af 6tf f (
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE OUARTER AND HALF YEAR ENDED SEPTEMBER 30 2024
| Particulars | Quarter Ended | Half Year Ended | Year Ended | |||
|---|---|---|---|---|---|---|
| September 30 | June 30 | September 30 | September 30 | September 30 | March 31 2024 | |
| 2024 | 2024 | 2023 | 2024 | 2023 | ||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| Income | ||||||
| Revenue from operations | 2,294.69 | 1,975.33 | 1,912.05 | 4,270.02 | 3.793.16 | 7.877.59 |
| Other income | 47.15 | 38.49 | 47.51 | 85.64 | 104.21 | 229.22 |
| Total Income | 2,341.84 | 2,013.82 | 1,959.56 | 4,355.66 | 3.897.37 | 8.106.81 |
| Expenses | ||||||
| Purchase of stock-in-trade | 540.07 | 192.87 | 251.93 | 732.93 | 573.38 | 1.171.61 |
| Employee benefit expenses | 695.93 | 591.55 | 527.16 | 1,287.48 | 1,012.60 | 2,134.88 |
| Finance cost | 131.22 | 127.16 | 119.69 | 258.38 | 239.75 | 455.61 |
| Depreciation and amortization expenses | 402.96 | 400.18 | 340.92 | 803.14 | 668.32 | 1,344.42 |
| Other expenses | 488.47 | 589.60 | 553.04 | 1,078.07 | 1,151.47 | 2,435.92 |
| Total Expenses | 2,258.65 | 1,901.36 | 1,792.74 | 4,160.00 | 3.645.52 | 7.542.44 |
| Profit before tax | 83.19 | 112.46 | 166.82 | 195.66 | 251.85 | 564.37 |
| Tax expense | ||||||
| Current Tax | 73.46 | 85.14 | 124.96 | 158.60 | 189.31 | 328.44 |
| Deferred Tax | (29.04) | (29.70) | (56.31) | (58.74) | (85.98) | (111.26) |
| Short/(Excess) provision for previous years | 14.74 | |||||
| Total tax expense | 44.42 $\bullet$ |
55.44 | 68.65 | 99.86 | 103.33 | 231.92 |
| Profit for the year [A] | 38.77 | 57.02 | 98.17 | 95.80 | 148.52 | 332.45 |
| Other comprehensive income | ||||||
| Item that will be reclassified subsequently to profit or loss | ||||||
| Exchange differences on translation of foreign operations | ||||||
| Item that will not be reclassified to profit or loss | 2.58 | (0.36) | (0.80) | 2.22 | (3.14) | (5.17) |
| Remeasurements of post-employment benefit obligations | $\frac{1}{2}$ (4.07) |
|||||
| Remeasurements of investment classified as FVTOCI | (4.07) | (11.06) | (8.15) | (11.06) | (16.29) | |
| Income tax relating to these items | 130.41 | |||||
| Other comprehensive income for the year, net of tax [B] | 7.71 6.22 |
3.66 (0.77) |
2.78 (9.08) |
11.37 5.44 |
2.78 | (25.81) |
| Total comprehensive income for the year [A+B] | 44.99 | 56.25 | 89.09 | 101.24 | (11.42) 137.10 |
83.15 415.60 |
| Profit for the year attributable to: | ||||||
| -Owners of the Company | 45.94 | 63.56 | 105.10 | 109.51 | 160.24 | 357.81 |
| -Non controlling interests | (7.18) | (6.54) | (6.93) | (13.72) | (11.72) | (25.36) |
| Other comprehensive income (net of tax) attributable to: | ||||||
| -Owners of the Company | 6.74 | (0.76) | (8.19) | 5.97 | (10.47) | 84.45 |
| -Non controlling interests | (0.52) | (0.01) | (0.89) | (0.53) | (0.95) | (1.30) |
| Total comprehensive income for the year attributable to: | ||||||
| -Owners of the Company | 52.68 | 62.80 | 96.91 | 115.49 | 149.77 | 442.26 |
| -Non controlling interests | (7.70) | (6.55) | (7.82) | (14.25) | (12.67) | (26.66) |
| Earnings per share of face value Rs. 10/- per share | ||||||
| Basic earnings per share | 0.36 | 0.50 | 0.97 | 0.85 | 1.48 | 3.17 |
| Diluted earnings per share | 0.36 | 0.50 | 0.94 | 0.85 | 1.43 | 3.17 |
Vijay Gupta Chairman and Managing DIN :01653314 Place: Pune
i,t'
Date: 14 November 2024
CIN: 130107PN1996P1C016718
Registgred Office: SoftTech Towers, S.No. 1/1Al7 81516 17,Plot No. B,C,D, 1-Baner,
Opp. Royal Enfield Showroom, Baner Road, pune: 41,1040.
Website: www.softtech-engr.com, Email: [email protected], Telephone: +91 (20) 67183711
UNAUDITED CONSOLIDATED STATEMENT OF ASSET AND LIABILITIES
| Particulars | As at | As at |
|---|---|---|
| September 30 2024 | Match 31 2024 | |
| Unaudited | Unaudited | |
| ASSETS | ||
| Non-current assets | ||
| Property plant and equipment | 339.88 | 345.35 |
| Right-of-use assets | 636.95 | 692.34 |
| Other intangible assets | 3,268.31 | 3,971 .31 |
| lntangible assets under development | 2,617.82 | 1,666.21 |
| Financial assets | ||
| lnvestments | 559.38 | 559.38 |
| Other financial assets | 1,383.85 | 1,286.83 |
| Contract assets | 34.32 | 34.32 |
| lncome tax assets (net) | 23.42 | 23.38 |
| Deferred tax assets (net) | 268.42 | 202.36 |
| Other non-current assets | 35.70 | 5.86 |
| Total non-current assets | 9,168.05 | 8,787.34 |
| Cgrrent assets Financial assets |
||
| lnvestments | ||
| Trade receivables-- | 737.73 | 980.64 |
| Cash and cash equivalents | 4,305.44 | 4,578.63 |
| Bank balance other than above | 77.68 | 140.49 |
| Other financial assets | 0.21 | 0.21 |
| Contract assets | 1 18.91 | 1 33.1 0 |
| Other current assets | 5,574.55 | 4,802.62 |
| Total current assets | 114.71 | 79.59 |
| Iotal assets | 10,929.23 20,097.28 |
10,715.28 |
| 19,502.62 | ||
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity share capital | 1,281.91 | 1,281.91 |
| Other equity | 11,486.83 | 11,326.84 |
| Total equity attributable to owners of the Company | 12,768.75 | 12,608.75 |
| Non controlling interest | l1'14.7',! | (100.461 |
| Total equity | 12,654.03 | 12 ,508.28 |
| LIABILITIES | ||
| Non-current liabilities | ||
| Flnancial Liabilities | ||
| Borrowings | 664.50 | 415.96 |
| Lease Liability | 578.50 | 625.60 |
| Provisions | 157.39 | 148.90 |
| Deferred tax liability | 17.56 | 21 .62 |
| Total non-current liabilities | 1,417.95 | 1,212.08 |
| Current Liabilities | ||
| Financial Liabilities | ||
| Borrowings Leasb tiabitties |
2,934.87 | 2,721.01 |
| Trade payables | 92.04 | 87.79 |
| Total outstanding dues of micro enterprises and srnall enterprises ; Total outstanding dues of creditors other than micro enterprises and small |
113.15 | 96.45 |
| enterprisei | ||
| Other financial liabilities | 1,342.57 | 926.09 |
| Other current liabilities | 1,153.92 | 1,347.00 |
| Provisions | 't76.94 | 405.28 |
| Current tax liabilities (net) | 81.69 | 77.28 |
| Total current liabilities | 130.11 | 121.36 |
| otal liabilities | 6,025.29 | 5,782.26 |
| Total equity & liabilities | 7,443.24 20,097.28 |
6,994.34 19,502.62 |
Vijay Gupta Chairman and DIN:01653314
Place: Pune Date: 14 November 2024
negistereo orrice: sertre"rt\$*1,:13.'^iJii??fiJ:l',ur, ,,o, No. B,c,D, 1-Baner,
.,
ll.t -t
Opp. Royal Enfield Showroom, Baner Road, pune: 411045.
website: www.softtech-engr.com, Email: [email protected], Telephone: +91 (20) 671ga711
UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 30 SEPTEMBER2024
| Particulars | Half Year Ended | |
|---|---|---|
| September 30 2024 | September 30 2023 | |
| Unaudited | Unaudited | |
| Cash flow from operating activities | ||
| Net profit before tax | 195.66 | 251.85 |
| Adjustments for | ||
| Depreciation and amortisation expense | 803.14 | 668.32 |
| Provision for doubtful debts net of reversal/ debit balances written off |
||
| 3.77 | 134.79 | |
| Changes in fair value of financial assets at fair value through profit or loss |
||
| Gain on sale of investment | (4.98) | (12.14) |
| Unwinding of discount on security deposits | (27.10) | (15.22) |
| Interest income classified as investing cash flows | (1.77) | (1.78) |
| Finance cost | (42.10) | (39.85) |
| Share based payment expense | 258.38 | 239.75 |
| Excess provision/credit balances written back | 44.51 | |
| Net exchange differences | (1.30) | |
| Cash generated from operations before working capital changes | (13.58) 1,214.63 |
(3.50) |
| 1,222.22 | ||
| Change in operating assets and liabilities | ||
| (Increase)/ Decrease in trade receivables | 286.77 | (251.07) |
| Increase/ (Decrease) in trade payables | 434.49 | 335.46 |
| (Increase)/Decrease in contract assets | (771.93) | (1,008.59) |
| (Increase)/ Decrease in other current asset | (35.12) | 93.86 |
| (Increase)/ Decrease in other financial assets | 7.57 | 34.13 |
| Increase/(Decrease) in other non current assets | (29.83) | 34.32 |
| Increase/ (Decrease) in other financial liabilities | 88.86 | 64.29 |
| Increase/(Decrease) in provisions | 4.75 | 14.83 |
| Increase/(Decrease) in other current liabilities | (228.36) | 38.37 |
| Cash generated from operations | 971.83 | 577.82 |
| Income taxes paid Net cash generated from operating activities |
(149.90) | 7.03 |
| 821.93 | 584.85 | |
| Cash flows from investing activities | ||
| Payments for property, plant and equipment | ||
| Payments for intangibles development costs | (43.38) (1, 212.46) |
(55.98) |
| Purchase of long term investments | 0.00 | (695.77) (121.37) |
| Net Investment in mutual funds | 275.00 | 259.87 |
| Interest income | 8.90 | 2.75 |
| Investment in fixed deposits with banks | (57.00) | 52.82 |
| Net cash (used in) investing activities | (1,028.94) | (557.70) |
| Cash flows from financing activities Proceeds from issues of shares |
||
| Proceeds from long term borrowings | 1,875.00 | |
| Repayment of borrowings | 548.00 | |
| Net change in short term borrowings | (384.99) | (619.37) |
| Lease payments | 299.40 | 204.97 |
| Share issue expense | (75.90) | (72.68) |
| Interest paid | (242.31) | (25.00) (177.80) |
| Net cash generated from financing activities | 144.20 | 1,185.12 |
| $\mathbf{e}$ Net increase in cash and cash equivalents |
(62.81) | 1,212.29 |
| Foreign currency translation reserve movement | ||
| Cash and cash equivalents at the beginning of the financial year Cash and cash equivalents at end of the period |
140.49 | 85.88 |
| 77.68 | 1,298.17 |
, /)t o-?-. ,11fl1e*\ W rx
Vijay Gupta Chairman and Managing D DIN : 0165331+ 't sorJhsh) Ko' -/, Place: Pune j, Date: 14 November 2024
Notes to the Statement of Standalone and Consolidated Unaudited Financial Results for the Quarter and Half year ended September 30r2024.
- l. The above financial results (Standalone and Consolidated) of SoftTech Engineers Limited (the "Company" or "Holding Company"), its subsidiaries (collectively referred to as "the Group"), were reviewed by the Audit Committee, approved and adopted by the Board of Directors at its meeting held on November 14,2024.
-
- The quarterly and half yearly financial results have been subjected to Limited Review by the Statutory Auditors.
-
- The company has prepared the financial results as per Indian Accounting Standards (Ind AS) specified under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended and in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 as amended.
-
- The Company operates in a single segment i.e information technology and software services in accordance with Ind AS 108 "Operating Segment,,.
-
- On July 1,2024 the Company has granted Employee Stock Option Plan (ESOP) to Mr. Pratik Patel and Mr. Kamal Agrawal at the exercise price of Rs. 10 per share. The number of ESOP granted are 50,000 and 10,000 respectively.
For SoftTech Engineers Limited
Vijay Gupta Chairman and Managing Director DIN:01653314 Place: Pune Date:November 14,2024
LLPIN: AAT-9949 Dr. Pai Marg, Baner, Pune – 45 Tel (O): 020 – 27290771/1772/1773 Email: [email protected] Web: www.pgbhagwatca.com
Independent Auditors' Review Report
on the unaudited quarter and half year ended standalone financial results of SoftTech Engineers Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To,
The Board of Directors SoftTech Engineers Limited (SEL) SoftTech Towers, S. No. 1/1A/7 8 15 16 17, Plot No. B, C, D, Baner, Baner Road, Pune- 411045
-
- We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of SoftTech Engineers Limited ("SEL" or "the Company") for the quarter and half year ended September 30, 2024 ("the Statement") 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").
-
- This Statement, which is the responsibility of the Company's Management and approved by the Company'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.
-
- 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 Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedure 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.
P G BHAGWAT LLP Chartered Accountants LLPIN: AAT-9949
- 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.
For P G BHAGWAT LLP Chartered Accountants Firm's Registration Number: 101118W/W100682
Abhijeet Bhagwat Partner Membership Number: 136835 UDIN: 24136835BKBHAN2929
Pune November 14, 2024
LLPIN: AAT-9949 Dr. Pai Marg, Baner, Pune – 45 Tel (O): 020 – 27290771/1772/1773 Email: [email protected] Web: www.pgbhagwatca.com
Independent Auditor's Review Report
on the unaudited quarter and half year ended consolidated financial results of SoftTech Engineers Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To, The Board of Directors SoftTech Engineers Limited (SEL) SoftTech Towers, S. No. 1/1A/7 8 15 16 17, Plot No. B, C, D, Baner, Baner Road, Pune- 411045
-
- We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of SoftTech Engineers Limited ("SEL" / "the Holding Company"), and its Subsidiaries (Holding Company and its Subsidiaries together referred to as "the Group") for the quarter and half year ended September 30, 2024 ("the Statement"), 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").
-
- This Statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company'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.
-
- 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.
-
- The Statement includes the results of the following entities:
- i. SoftTech Engineers Inc.
- ii. SoftTech Finland Oy
- iii. AmpliNxt Private Limited
- iv. SoftTech Government Solutions Inc (step down subsidiary)
- v. Softech Digital Pte. Limited
- vi. Softtech Digital Software LLC (step down subsidiary)
-
- Based on the review conducted by us and procedures performed as stated in paragraph 3 above, nothing has come to 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 India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
Other Matters
- The Statement includes the financial results/information of five subsidiaries which have not been reviewed by us, whose financial results reflect total assets of ₹ 1,045.57 Lakhs and net assets ₹ (72.17) Lakhs as at September 30, 2024, revenue from operations of ₹ 19.21 Lakhs and total comprehensive income/(loss) (Comprising of profit and other comprehensive income) of ₹( 78.23) Lakhs and net cash inflow/(outflow) of ₹(7.76) Lakhs for the half year ended September 30, 2024. The financial results/financial information of these subsidiaries are Management drawn. According to the information and explanations given to us by the Management and in our opinion, these interim financial information/results are not material to the Group.
Our conclusion is not modified in respect of this matter with respect to our reliance on the financial information certified by the management.
For P G BHAGWAT LLP
Chartered Accountants Firm's Registration Number: 101118W/W100682
SEL Limited Review Report (Consolidated) September 30, 2024 Page 2 of 2 Abhijeet Bhagwat Partner Membership Number: 136835 UDIN: 24136835BKBHAO3623 Pune November 14, 2024
