SoftTech Engineers Limited — Regulatory Filings 2018

Nov 14, 2018

To. National Stock Exchange of India Limited Bandra-Kurla Complex Bandra (East) Mumbai - 400 051

14^th November, 2018

Scrip Code: SOFTTECH

SUBJET: OUTCOME OF BOARD MEETING HELD ON WEDNESDAY 14TH NOVEMBER, 2018

With reference to the above, we would like to inform that the Board of Directors of the Company at its meeting held today i.e. 14^th November, 2018 which commenced at 3.00 PM and concluded at 4.30 PM have taken following decision:

The Board considered and approved the Unaudited Standalone Financial Results of the Company for half year ended 30^th September, 2018 and noted Limited Review Report from Statutory Auditors on the Unaudited Standalone Financial Results for the half year ended 30^th September, 2018 as per Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Kindly take the same on record.

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For SoftTech Engineers Limited Dord!

AISHWARYA PATWARDHA COMPANY SECRETARY MEMBERSHIP NO: A54477

SoftTech Engineers Limited (formerly known as SoftTech Engineers Pvt. Ltd.) The Pentagon - 5A, 5th Floor, Shahu College Road, Pune - 411 009, Maharashtra, India. T: +91 20 2421 7676 / 2421 8747 CIN: U30107PN1996PLC016718

E: sepl@softtech-engr.com | www.softtech-engr.com

SoftTe

Empowering Transformation

Walker Chandiok & Co LLP

Walker Chandiok & Co LLP (Formerly Walker, Chandiok & Co) 3rd Floor, Unit No 309 to 312 West Wing, Nyati Unitree Nagar Road, Yerwada Phne 411006 India

T +91 20 6744 8800 F +91 20 6744 8899

Independent Auditor's Review Report on Half-yearly Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of SoftTech Engineers Limited

• 1. We have reviewed the accompanying statement of unaudited financial results (the 'Statement') of SoftTech Engineers Limited ('the Company') for the period 1 April 2018 to 30 September 2018, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 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 the Statement based on our review.
• $2.$ We conducted our review 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 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.
• $3.$ 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 prescribed under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended) and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated 5 July 2016, and other recognised 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 Walker Chandiok & Co LLP Chartered Accountants Firm Registration No.: 001076N / N500013

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Bharat Shetty Partner Membership No.: 106815

Place: Pune Date: 14 November 2018

Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and its register office at L-41 Connaught Circus, New Delhi, 110001, India

SoftTech Empowering Transformation

SoftTech Engineers Limited

Registered Office: The Pentagon, Unit No. 5A, Near Satara Road Telephone Exchange, Shahu College Road, Parvati, Pune - 411009, Maharashtra.

CIN: U30107PN1996PLC016718, Website: www.softtech-engr.com

Statement of Unaudited Financial Results for the half-year ended 30 September 2018

			Half-year ended		Amount in N Year ended
Sr. no.	Particulars	30 September 2018 (Unaudited)	31 March 2018 (Audited) (refer note 4 below)	30 September 2017 (Audited)	31 March 2018 (Audited)
$\mathbf{1}$	Income
	(a) Revenue from operations	$-296,036,474$	309,083,396	206,339,850	515,423,246
	(b) Other income	4,103,311	2,050,043	2,451,419	4,501,462
	Total income	300,139,785	311, 133, 439	208,791,269	519,924,708
$\overline{2}$	Expenses
	(a) Purchases of stock-in-trade	18,806,326	26,457,271	17,631,397	44,088,668
	(b) Employee benefits expense	49,372,923	41,554,204	42,128,673	83,682,877
	(c) Finance costs	8,750,711	10,734,283	11,949,106	22,683,389
	(d) Depreciation and amortisation expense	20,032,367	18,382,059	19,419,487	37,801,546
	(e) Professional fees for technical consultants	107,212,927	110,248,855	59,215,734	169,464,589
	(f) Other expenses	48,219,510	36,756,175	29,139,526	65,895,701
	Total expenses	252,394,764	244, 132, 847	179,483,923	423,616,770
3	Profit before tax $(1 - 2)$	47,745,021	67,000,592	29,307,346	96,307,938
4	Tax expense
	Current tax	15,600,000	21,174,480	11,219,038	32,393,518
	Deferred tax charge/(credit)	(2, 397, 159)	(944, 205)	(3,078,226)	(4,022,431)
5	Net profit for the period/year $(3 - 4)$	34,542,180	46,770,317	21,166,534	67,936,851
6	Paid-up equity share capital (Face value per share, ₹10 each)	94,224,760	70,512,760	35,256,380	70,512,760
$\overline{7}$	Reserves (excluding revaluation reserves ₹ Nil)				303,467,620
8	Earnings per share (of Deach) (not annualised):
	(a) Basic	3.87	6.63	3.00	9.63
	(b) Diluted	3.85	6.57	3.00	9.55

SoftTech Engineers Limited
(formerly known as SoftTech Engineers Pvt. Ltd.) The Pentagon - 5A, 5^th Floor, Shahu College Road, Pune - 411 009, Maharashtra, India. T: +91 20 2421 7676 / 2421 8747 CIN: U30107PN1996PLC016718

E: sepl@softtech-engr.com | www.softtech-engr.com

SoftTech Engineers Limited

	SoftTech Engineers Limited Statement of Assets and Liabilities	As at	Amount in ₹ As at
Sr.	Particulars	30 September 2018	31 March 2018 (Audited)
no.		(Unaudited)
	A Equity and liabilities
$\mathbf{1}$	Shareholders' funds	94,224,760	70,512,760
	(a) Share capital	473,584,089	303,467,620
	(b) Reserves and surplus	567,808,849	373,980,380
$\overline{\mathbf{c}}$	Share application money pending allotment
	Non-current liabilities	34,871,637	51,025,639
$\overline{\mathbf{3}}$	(a) Long-term borrowings	100,000	100,000
	(b) Other long-term liabilities	6,208,478	5,277,117
	(c) Long-term provisions	41,180,115	56,402,756
			45,075,675
$\overline{\mathbf{4}}$	Current liabilities	47,582,653	75,518,697
	(a) Short-term borrowings	14,756,408	131,316,472
	(b) Trade payables	79,766,284	2,354,162
	(c) Other current liabilities	11,032,107	254,265,006
	(d) Short-term provisions	153, 137, 452
		762,126,416	684, 648, 142
	Total
в	Assets
	Non-current assets $\mathbf{1}$	8,348,446	9,975,743
	(a) Property, plant and equipment	60,542,476	76,831,770
	(b) Intangible assets	57,565,969	38,031,647
	(c) Intangible assets under development	577,300	379,800
	(d) Non-current investments	10,031,159	7,634,000
	(e) Deferred tax assets (net)	13,523,722	12,800,117
	(f) Long-term loans and advances	60,563,207	57,128,980
	(g) Other non-current assets	211,152,279	202,782,057
		50,000,000
	Current assets $\overline{2}$	208,938,131	218,027,120
	(a) Current investments	1,720,892	12,696,174
	(b) Trade receivables	15,977,546	15,801,131
	(c) Cash and bank balances		235,341,660
	(d) Short-term loans and advances	274,337,568 550,974,137	481,866,085
	(e) Other current assets
		762,126,416	684, 648, 142

The Pentagon - 5A, 5th Floor, Shahu College Road, Pune - 411 009, Maharashtra, India. T: +91 20 2421 7676 / 2421 8747 CIN: U30107PN1996PLC016718

E: sepl@softtech-engr.com | www.softtech-engr.com

SoftTer Empowering Transformation

Notes:

• 1 The financial results are prepared in accordance with the Accounting Standards prescribed under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended) and other recognised accounting practices and policies, as applicable.
• 2 The above results were reviewed by the Audit Committee and were dereafter approved by the Board of Directors at their respective meetings held on 14 November 2018. The same has also been subjected to limited review by the Statutory Auditors.
• 3 The Company operates in a single reportable business segment, which is business consulting and software implementation and related support activities. Further, the Company operates primarily in India and there is no other significant geographical segment. Accordingly, no segment information has been submitted as a part of these financial results.
• 4 Figures for the half year ended 31 March 2018 as reported in these financial results, are the balancing figures between audited figures in respect of the full financial year ended 31 March 2018 and the audited half yearly financial information upto 30 September 2017.

Pune 14 November 2018

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For and on behalf of the Board of Directors

$n \sin$ Vijay Gupta Managing Director

SoftTech Engineers Limited (formerly known as SoftTech Engineers Pvt. Ltd.) The Pentagon - 5A, 5^th Floor, Shahu College Road, Pune - 411 009, Maharashtra, India. T: +91 20 2421 7676 / 2421 8747 CIN: U30107PN1996PLC016718

E: sepl@softtech-engr.com | www.softtech-engr.com