SoftTech Engineers Limited — Interim / Quarterly Report 2020

Nov 14, 2019

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

14tr November,2019

Scrip Code: SOFTTECH

SUBJET: Outcome of Board Meeting held on 14ft November, 2019 as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 20 I 5

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. 14e November, 2019 which commenced at 4.30 PM and concluded at7.00 PM inter alia have considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company along with limited review report thereon from Statutory Auditors for half year ended 30tr September,20lg as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), 20 I 5.

This is for your information and records.

Kindly take the same on record.

For SoftTech Engineers Limited

AISHWARYA PATW COMPANY SECRETARY

(fttinerlv kilcvin ai 5oitlecll EiEineers ir;i. ii.i ) The Feni;lgon - 5A, 5r' Ficor. !nalri: College RcaC, Pune - 4i 1 009, Nlaharashtra, inriia. T: -91 20 242i 767A I 2421 8747 Cl l\l: 1301 07PN1 995P1C01 571 I

SoftTech Engineers Limited

Sof

E in

[fech poweri rg Ti-ansforn-ialion

Er sepl@softtech-en gr.cam I www.softtech-engr.ccm

Walker Chandiok & Co LLP 3rd Floor, Unit No 309 to 312 West Wing, Nyati Unitree Nagar Road, Yenivada Pune - 41'l 006 lndia

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

lndependent Audito/s Review Report on Standalone Unaudited Half-yearly Financial Results and Yearto Date Resutts of the Gompany Pursuantto the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations ,2015 (as amended)

To the Board of Directors of SoftTech Engineers Limited

• 1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of SoftTech Engineers Limited ('the Company') for the half year ended 30 September 2019 and year to date results for the period 01 April 2019 to 30 September 2019, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Attention is drawn to the fact that the cash flow figures for the corresponding six months period ended 30 September 2018 have been approved by the Company's Board of Directors, but have not been subjected to audit or review.
• 1. The 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 Accounting Standard 25, Interim Financial Reporting ('AS 25), prescribed under Section 133 of the Companies Act, 2013 ( lhe Act'), read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended), SEBI Circular CIR/CFD/FACl62l2016 dated 5 July 2016 (hereinafter referred to as'the SEBI Circular'), and other accounting principles generally accepted in lndia. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of lnterim Financial lnformation Performed by the lndependent Auditor of the Entity, issued by the lnstitute of Chartered Accountants of lndia. 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 the Standards on Auditing specified under section 143(10) of the Act, 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.

Page 1 of2

Chartered Accounlants

Offi@s in Bengaluru, Chandigarh, Chennai, Gurugram, HydeEbad, Kochi, Kolkata, Mumbai, New Oelhi, Noida and pune

Walker Chandiok & Co LLP is registered with limited liability with identifi€tion numberAAc-zo8s and its registered ofiice at L-4'l Connaught Circus, New Delhi, 1 10001, lndia

SoftTech Engineers Limited

lndependent Auditor's Review Report on Standalone UnauditEd Half-yearly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requiremenb) Regulations, 2015 (as amended)

1. 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 the recognition and measurement principles laid down in AS 25 , prescribed under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended), the SEBI Circular, and other accounting principles generally accepted in lndia, has not disclosed the information required to be disclosed in accordance with the requirements 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.

For Walker Ghandiok & Go LLP Chartered Accountants Firm Registration No: 001 076N/N50001 3

@$Mt^

Membership No.'t06815 Bharat Shetty Partner

UDIN No:1 91 0681 5AAAADR2459

Place: Pune Date: 14 November 2019

Page 2 of 2

SoftTech Engineere Limited

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

CIN: I.3O107PN1996PLCO16718, STebsite: rryw.softtech-etrgr.com

Statement of Standalone Unaudited Financial Resrilts for the halfyear ended 30 September 2019

		Amount in {
		Half-year ended	Year ended
Sr.	Particulars	30 September 201!	30 September 2018	3lMarch2019
no.		(Unaudited)	(Unaudited)	(Audited)
			(refer note 4 below)
1	I
	llncomel1r1 lt.r cnuc lr,'nr,rp,,,i,,,,.
	l(b) ( t,lr", in., ,-.	21(),{t18,192	296,03(t,171	627,551,789
		3,413,506	.1,10-3,31 I	u,013,525
	IlTotal income
		273,521,698	300.139.785	63s,568,314
7	I
	lExpenses	)7 ?t( )()
	l(r) l'urchrs.s ()f stockro rrf,dc		1 U,806.326	19,229,196
	lrl)) Lrnpl,rye e be nc Ers e rp(0sc	55,950,0(r(r	19,372,923	)8,32t),133
	(c1 ['r.arce c,,stsJ r I ).prt cr.rrron .rrrd rm.rris:riurr r slcnsr,	1 ,121,966	u,750,71 1	1 6,837,085
	l,	1 8,597,8 1 8	20,032,367	.t0,4I9,359
	IO )'rr'[c"si,,rr.rl ltr.s fi'r tcchnic.rl c,,nsu]trnts	lt 1,000,520	101,212,t)27	22i,798,699
	{trh "*p.n,l{O	.18,023,753	,1It,21 9,5 l()	97,709,217
	IlTotal expenses	237.909.37s	252,394.764	526,322,689
3	Profit before tax (1-2)	35,672,323	47,745,021	109,245,625
1	Tax expense
	(,urrcnt tax	1 1,860,u4u	1 5,600,000	35,280,0(X)
	l)clcrrcd tax charge/ (crcdit)	(1,3.r2,8,151	(2,397,159.	(3,969,161,
5	Net profit for the period/year (3-4)	25,094,320	34,542,180	77,934,792
6	J)id up cAuitl' sharc clpiral	94,221,160	)4,221,7(,tl	94,221,760
	(liace valuc pcr sharc, { 10 cach)
7	l{escn cs (cxcluding rrraluation rcscn'cs { Nil)			511,308,2.52
8	Earnings per share (oft 10 each)
	(not ennualiscd):
	(a) l)asic	2.66	3.87	rJ.50
	(b) l)ilutcd	2.65	). bf	81,1

SoftTech Engineers LimitedStatement of Standalone Assets and Liabilities

$\mathbb{R}^3 \times \mathbb{R}^3$

$\bar{\mathcal{O}}$

			Amount in ₹
Sr.no.	Particulars	As at30 September 2019(Unaudited)	As at31 March 2019(Audited)
A	Equity and liabilities
$\mathbf{1}$	Shareholders' funds
	Share capital	94,224,760	94,224,760
	Reserves and surplus	538,033,552	517,308,252
		632,258,312	611,533,012
$\overline{2}$	Share application money pending allotment
3	Non-current liabilities
	(a) Long-term borrowings	44,304,573	56,734,747
	(b) Other long-term liabilities	50,000	50,000
	(c) Long-term provisions	7,594,663	6,463,991
		51,949,236	63,248,738
$\overline{\mathbf{4}}$	Current liabilities
	(a) Short-term borrowings	101,005,345	70,692,697
	(b) Trade payables	41,198,083	16,746,412
	(c) Other current liabilities	68,846,262	89,472,920
	(d) Short-term provisions	3,562,004	3,020,672
		214,611,694	179,932,701
	Total	898, 819, 242	854,714,451
B	Assets
$\mathbf{1}$	Non-current assets
	(a) Property, plant and equipment	9,730,386	10,865,912
	(b) Intangible assets	61,784,660	77,377,080
	(c) Intangible assets under development	78,019,691	51,078,849
	(d) Non-current investments	17,432,080	5,872,374
	(e) Deferred tax assets (net)	12,946,012	11,603,167
	(f) Long-term loans and advances	19,842,344	19,251,651
	(g) Other non-current assets	86,549,719	81,670,934
		286,304,892	257,719,967
$\overline{2}$	Current assets
	(a) Current investments	42,469,550	108,965,141
	(b) Trade receivables	202,171,622	188,227,694
	(c) Cash and bank balances	12,647,945	12,944,533
	(d) Short-term loans and advances	3,639,533	14,039,657
	(e) Other current assets	351,585,700	272,817,459
		612,514,350	596,994,484
	Total	898, 819, 242	854,714,451

$\frac{1}{2}$

$\frac{1}{2}$

$\epsilon$

$\vec{p}$

$\bar{z}$

$\mathbb{R}$

i.

SoftTech Engineers Limited Registered Office: The Pentagon, Unit No 5A, Near Satara Road Telephone Exchange, Shahu College Road, Pawati, Pune-411009, Maharashtra. CIN: L30107PN1996PLC016718, Website: www.softtech-engr.com

Standalone Cash Flow Statement

Amount in {
Particulars		FlalfYear ended
	30 September 2019	30 September 2018
	(Unaudited)	(Unaudited)
		(refer note 4 below)
A) Cash flow from Operating Activities
Profit before Tax	35,612,323	4t ,l 45,021
Adjustments for:
L)r'prt cirri,,n lntl rm, rrti:rri,,n ( xf cnse	1 8,597,81 8	20,032,367
LmJrlor qss' st,,ck of,ti,,n compcnsrti,,tt	1J2 ? IR	753,015
Fiaance cosis	7,101,8'l.l	7,1 83,80 1
Bad debts and advances wdtten off	74,91,6	3,816,216
Provision lor doubtful debts	725,610	1,083,631
l)ividend income	(807,201)
Inreresr inc, rmr , rn Jeposits	(2 140 562\	(1.811.652)
Operating profit before working capital changes	59,306,996	78,832,402
Changes in Working Capital:
lncrcasc/(dccrcasc) in trade pavables, Liabilities and provisirns	1 6,003,848	(86,51.1,235)
(lncrease)/decrease in tradc tcccivablcs	(14,318,3ss)	5,242,113
Increase in loans and edvances and othcr asscts	(11.469.121\	(39,s7s,83.1)
Cash used in operations	(70,476,935)	(42,074,894)
Dtect texes paid(net)		(13.647.438)
Net cash used in operating activities (A)	(9.487 .731)(\9,964,666)	(55,662,332)
B) Cash flow from Investing Activities
Putchasc of ptopcril, plant and ecluipment (includrng intangble assets and	(28,810,71 7)	(21,6s0,098)
intangible assets undcr dcvcloprncnt)
lnv(ilm(nls ur :ubsidirn cumprnit*	(1 1,ss9,706)
Rcdcmption and (purchese) of mutual lunds (nct)	66,195,591	(1 97,500)(s0,000,000)
Iiixed deposrts including balanccs in cscrow account placed	(3,239,620)	(3,0s0,000)
Interest and dividend rcceivcd	1.219.969	690.619
Net cash generated from/(used in) investing activities (B)	24,105,517	(74,206,979)
C) Cash flow from Financing activities
Repal'r.r-rent of long-term borrorvings	(22,996,29s)	(38,879,386)
Proceeds fiorn long-term borrowings		3,000,000
Procccds from short tctrr borrowings (net)	30,312.6+8	2,506,978
i)iviclend paid (including dividend distribution tax paid)	(4,711,238)	(s,679,869)
Interest paid	(1,042,5s4)	(.6,266,831')
l)roceeds from shates issued		1 89,696,000
Sharc issuc cxpcnses incurred		(25182.857)
Net cash (used in)/generated from financing activities ( C)	(4,437,439)	718,894,029
Net decrease in cash and cash equivalents (A+B+C)	(296,s88)	(10,e]5,282)
Cash ar-rd cash equir.alents at the bcginning oi the period	12,929,881	12,681,404
Cash and cash equivalents at the end of the period	12,633,299	1.706.122
Cash and cash equivalents comprises of :
Clash on hend	11 ,513	918,796
Ralance with banks (io currcnt accounts)	12.615.156	/o/.JZO
Cash and cash equivalents as a9sp4-q.f the period	72,633,299	1,706,122

Notes:

• 'l'hc financiel rcsults are prcpercd in accordancc rvitir tlrc .\ccounting Srandards prcscribcd undcr Secti()n 133 of the Oompanies ,\ct, 2013, rcrd with ltulc 7 of thc (irmpanies (,\ccounts) Rules, 2014 (es amcndcd) rnd othcr rccogniscd accountiflg prxctict's and policics, as applicable.
• 'l'he abor-c rcsults rvcre revicrvcd bv thc .'\udit (lommittcc and rvcre thereaftcr approvcd bt,thc Board of l)irectors at their rcspcctile meetings hcld on 1.1 Norembcr 201 9. 'fhcrc are no qualifications in thc limitcd relicl, report issued lor thc half ycar cndcd 30 Seprembcr 20 1 9.
• 'l'hc (iompany operates in a singlc rcporteblc busincss scgmcnt, wlich is business consulting and softl-arc implcmel)tatiofl and rclatcd supp()rt ectivitics. l'urther, thc (,ompanr. operates primarily in Indie and thcrc is no rither signrficant gcographical segment. '\ccordinglr-, no separatc scgmcnt information has becn submittcd as a ldrt of thesc financral rcsults.

I)ursutnt to amcndmcnt of SIiBI (I-isting Obligations and I)isckrsurc llcguircmcnts) Rcgulations, 2015, thc Company has prcparcd strrodalone cash flos. statement for thc half ycar ended 3() Scptcmbcr 2019 l,ith corcspofldlflg tigurcs lor thc half lcar endcd 30 Scptcmbcr 2018. (lash flol, hgurcs frrr the half ycar cndcd 30 Septcmbcr 2018 are certified b, the (irmpany's Board of Directors and hayc not bcen sublcctcd to audit or rclies. bl' stetlltorY auditors.

'I'hc (iompant'had madc an initial public oflcring (lP()) of2,371,2{)0cc1uitl sharcs of face r-alue { 10 each fully paid up for caslr at a pricc of { 80 per equitv shere (including sharc premium of { 70 per c<1uitv sharc) ag3rcgating to { 1U9,696,000.'fhc afotcmentioncd ccluitv shares rvcrc allottcd on 9 NIav 20 1 8. 'Ihc cquitv sharcs of thc Company got listed or N-SLI on 11 NIav 20111.

'1'hc procccds from IP() r.cre { 189,(196,000 and IP() relatcd cxpcnscs rvcre{ 25,.182,U57.'l'hc utilisation ofthc nct procccds are as follol,s:

			({ in lakh$
	1)lanned as pcr	LJtilisation up to	llalance as lt
	Prospcctus	30 Scpr 2019	30 Scpt 2019
l)roduct derckrpmcnt and cnhancemcnt costs	662.10	662.10
liunding of thc domcstic and internationai producr	598.12	329.53	268.59
JiLllL lr.lllr,n lnJ mJrkcu,rS C0sts
Itcpal,mcnt/Prc-payment of ccrtxin unsecurcd	203.41	203.11
borrorvings ar.ailed b-r, thc (irmpan1,
(icncral corporatc purposcs (ercluding transxction	17ti.1 5		r 7u.1 5
costs of IP())
	7,642.14	1,195.40	446.74

'l'hc unutiliscd monics lrc temporarily pxrkcd in murual hnd schcmcs bl the (irmpany

For and on behalf of the Board of Directors

Priti

Pme Date: 14 November 2019

Walker Ghandiok & Go LLP 3rd Floor, Unit No 309 to 312 West Wing, Nyati Unitree Nagar Road, Yerwada Pune - 411 006 India

f +91 20 67rt4 8800 F +91 20 6744 8899

tndependent Auditor's Review Report on consolidated Unaudited Half-yearlyf inancial Results and yeaito Date Results of the compiny pursuant to the Regulation 33 of the SEBI (Listing obligations and Disctosure Requirements) Regulations ,2015 (as amended)

To the Board of Directors of SoftTech Engineers Limited

• 1. We have reviewed the accompanying statement of unaudited consolidated financial results ('the Statement') of SoftTech EngineersLimitea ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiariEs together referied to as 'the Group'), (refer Annexure 1 for the list of subsidiaries inctuded in the Staterient) forthe half year ended 30 September 2019 and the consolidated year to date resutts for the period 01 April 2019 to 30 September 2019 being submitted by the Holding bompany pursuant to the requirements of Regulation 33 of the SEtsl (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBIfrom time to time Attenti-on is drawn to the fact that the cash flow figures for the corresponding six months . ended 30 September 2018, as reported in the Statement have been approved by the Holding Company's Board of Directors, but have not been subjected to audit or review.
• 1. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measuremlnt principles laid down in Accounting Standard 25, lnterim Financial Reporting ( 'AS 25')' prescribed under Section 133 of the Companies Act, 2013 ( 'tfre ncJ),194 y.'11 Rule 7 of the bompanies (Accounts) Rules, 2014 (as amended), SEBI Circular CIR/CFD/FACl62l2016 dated 5 July 2016 (hereinafter referred to as'the SEBI Circula/), and other accounting principles generally accepted in lndia. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of lnterim Financial lnformation Performed by the lndepen-dent Auditor of the Lntity, issued by the lnstitute of Chartered Accountants of lndia. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytica-l and other review-procedures. A review is substantially less in scope than an audit conducied in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matteri that might be identified in an audit. Accordingly, we do not express an audit opinion.

Chartercd Accounlants

Off@s in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune

Walker Chandiok & Co LLP is registered with limited liability with bentification numberAAC-2085 and its registered ofli@ at L-41 Connaught Circus, New Delhi, 110001, lndia

SoftTech Engineerc Limited

lndependeniAuditor's Review Report on Consolidated Unaudited Half-yearly Financial Results and Year to DatE Results of the Company Pursuant to the Regulation 33 of tha SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

We also performed procedures in accordance with the SEBI Circular CIR/CFD/CMD1/4412019 dated 29 March 2019 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. Based on our review conducted 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 recognition and measurement principles laid down in AS 25 , prescribed under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended), the SEBI Circular and other accounting principles generally accepted in lndia, has not disclosed the information required to be disclosed in accordance with the requirements 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.
• 1. The Statement includes the interim financial results of three subsidiaries, which have not been reviewed or audited by their auditors, whose interim financial information reflects total assets of t 't3,528,779 as at 30 September 2019, and total revenues of { Nil, net loss after tax of ? 10,498,907 for the half year ended 30 September 2019 and 01 April 2019 to 30 September 2019, and cash flow (net) of t 1 ,968,824 for six month period ended 30 September 2019, as considered in the Statement, and have been furnished to us by the Holding Company's management. Our conclusion on the Statement, and our report in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 (as amended), read with SEBI Circular, in so far as it relates to the aforesaid subsidiaries, are based solely on such unreviewed / unaudited interim financial information. According to the information and explanations given to us by the management, these interim financial information are not materialto the GrouP.

Our, conclusion is not modified in respect of this matter.

For Walker Ghandiok & Co LLP Chartered Accountants Firm Registration No: 001 076N/N50001 3

@,!tt&^

.

Membership No. 106815 Bharat Shetty Partner

UDIN No:I 91 0681 5AAAADS5649

Place: Pune Date: 14 November2019

SoftTech Engineers Limited

lndependeniAuditor's Review Report on Consolidated Unaudited Half-yearly Financial Results and Year to DatE Results of the Company Purcuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Reguirements) Regulations, 2015 (as amended)

Annexure 1

List of entities included in the Statement

Subsidaries:

SoftTech Engineers lnc. SoftTech Finland Oy SoftTech Government Solutions lnc.

Page 3 of 3

SoftTech Engineers Limited Registered Office: The Pentagon, Unit No 5A, Near Satara Road Telephone Exchange, Shahu College Road, Pawati, Pme-411009, Maharashtra. CIN: L30107PN7996PLC0767 78, Website: w.softtech-engr.com

Amount in { IIalf-vear ended Year ended Sr. no. Particulars 30 September 2019 (Unaudited) 30 September 2018 (Unaudited) (refer note 4 below) 3lMarch2019 (Audited) 1 Z 7 -l 4 5 6 8 9 Income (a) Rerenue tiom opetations (b) Other income Total income Expenses (a) Purchascs of stock-in-trade (b) llmplovcc bcncFtts erpense (c) Iinancc costs (d) Dcprcciation and amortisation erpcnse (e) Professional fees for technical consultanrs (i) ()ther cspcnscs Total expenses Profit before tax (1-2) Tax expense Current ta\ Deferred tax credit Net profit for the period/year (3-4) Net profit/(loss) attributable ro: - Ilcluiq Sharcholdcrs oFthc Company - Nlinorin lntcrcst Paid-up equiry sharc capital (Iiacc raluc pcr sharc, { 10 cach) Rcscn'cs (crcluding ro'aluation rcscri cs { Nil) Earnings per share (of { 10 each) (not aunuaLised)r (a) Basic ft) Dilutcd 21(.),018,192 3,,130,153 296,t)36,111 4,1()3,31 1 627,554,189 7,877,011 273,478,345 300,139,785 635,431,800 )7 )r( )(, 56,688,86.1 7,121,966 1 8,597,81 8 81,000,520 57,110,50t) 18,8(16,326 Jq 17r r11 8,750,71 1 20,t\32,367 1()1,212,921 .r8,2i 9,5 1 0 1c),229,796 99,998,820 16,837,085 .t0,419,359 223,1t)8,699 99,590,911 248,364,929 252,394,764 529,874,076 25,1',13,416 11,860,8.t8 (1,3.12,845, 47,745,021 '15,600,000 (2,3e1,15e) 705,557,724 35,280,(nX) (3,e6e,161) 14,595,472 l+,621,413 (26,061" 91,221,16t) 1.55 1.5.1 34,542,180 3.+,5.t2,1 80 94,221,161) 3.87 3.85 71,246,897 71,260,813 (1 3,982) t)4,224,76{) 513,63.1,.33.1 8.1{) u.04

Statement ofUnaudited Consolidated Financial Results for tie halfyear ended 30 September 2019

SoftTech Engineers LimitedStatement of Consolidated Assets and Liabilities

$\mathbb{R}^3 \times \mathbb{R}^3$

$\overline{a}$

			Amount in $\bar{z}$
Sr.	Particulars	As at	As at
no.		30 September 2019	31 March 2019
		(Unaudited)	(Audited)
A	Equity and liabilities
$\mathbf{1}$	Shareholders' funds
	Share capital	94,224,760	94,224,760
	Reserves and surplus	523,873,836	513,634,333
		618,098,596	607,859,093
$\overline{2}$	Minority Interest	22,224	34,137
3	Share application money pending allotment
$\overline{4}$	Non-current liabilities
	(a) Long-term borrowings	44,304,573	56,734,747
	(b) Other long-term liabilities	50,000	50,000
	(c) Long-term provisions	7,594,663	6,463,991
		51,949,236	63,248,738
5	Current liabilities
	(a) Short-term borrowings	101,005,345	70,692,697
	(b) Trade payables	41,207,671	17,592,133
	(c) Other current liabilities	68,666,161	87,733,859
	(d) Short-term provisions	3,562,005	3,020,672
		214,441,182	179,039,361
	Total	884,511,238	850, 181, 329
B	Assets
$\mathbf{1}$	Non-current assets
	(a) Property, plant and equipment	9,730,386	10,865,912
	(b) Intangible assets	61,784,660	77,377,080
	(c) Intangible assets under development	78,019,691	51,078,849
	(d) Non-current investments	379,800	379,800
	(e) Deferred tax assets (net)	12,946,012	11,603,167
	(f) Long-term loans and advances	19,966,042	19,251,651
	(g) Other non-current assets	86,549,719	81,670,934
$\overline{2}$		269,376,310	252,227,393
	Current assets
	(a) Current investments	42,469,550	188,227,694
	(b) Trade receivables(c) Cash and bank balances	202,171,622	108,965,141
		15,556,329	13,884,093
	(d) Short-term loans and advances	3,639,533	14,059,549
	(e) Other current assets	351,297,894	272,817,459
		615,134,928	597,953,936
	Total	884,511,238	850, 181, 329

HANDIO

$\bar{z}$

.

SoftTech Engineers Limited Consolidated Cash Flow Statement

		Amount in {
Particulars	Half year ended	Elalfyear ended
	30 September 2019	30 September 2018
	(Unaudited)	(Unaudited)
		(refer note 4 below)
lA) Cash flow from operaring acriviriesI Profit before tax
	25,113,116	11 ,745,021
I Adjustmenrs for:
I I l. prcci:r,,,lr :rrcl :m, rrri:rri( )n cxf tril:(I	18,597,818	20,032,361
I Llnrcrhsrd 1,,ss/1gein) ,,n foreign currcnc)' transactions and translatrons (nct)	98,574
I Trmpl,,1,es' :t,,cl< of\li,,n c,)mf(n.:rri,)r)I l,in.rncc cosrt	342.218	753,015
I BrJ .i, b,. .rnJ :dr.rncrs \ rirr.n ofi'	7,101,8.t.1	7,1 83,801
I	71,916	3,816,216
I I'r,,vision [,,r Joubr[ul dqbr:	725,610	1,083,63,1
1)ividcnd inc,,mr	(807,20 1)
I Inr,r,:r inc,rmilrn Jtpo.rr:	(2.310.562\	(1,81 1.652)
I Operating profit before working capital changes	48,906,663	78,832,402
I Changes in rvorking capital:
I i,,.r,, tlrcrel:q irr rruJi prlrbli lirbrhdr. rnJ prorisi,rnsI llncrrls.) Jecrc:., in rrlJ, rrcqirrble,	16,628,102	(86,5 1.1,235)
	(1,1,318,355)	)4)11\
11,rcr,,,7 irr lo:n. rnJ .rJr:ncs* fnJ urh( r -liscr:	/1 laata)1\ I I rrruTr.:/l	(39.575.83.1)
I Cust uscd in operarionsI Direct tr,rcs nriJrnctl	(20,067,877)	(42,014,894)
	(9.487.731\	(1.3.647.433)
I Net cash used in operaring acriviries (A)	(29,555,548)	(55,662,332)
I
lB; Cash flow from investing acriviries
I T-urchl:c ,,f lropqr. pi:rrr lnJ eguipmcnr	(28,810,7r 7)	(21,650,098)
{inclu.ling rntengiblu rsscrs xnd intanEblc assets uncler dcvclopmcnt)
I Reclcmprr,,rr rnl f,urchr ,,f mururl tirrrJntr.	66,495,591	(s0.000,000)
I Fr-rcd dtp,,5115 includrng balanccs in esclrw accouflt rcahsed/(placed)	(3,239,620)	(3,050,000)
I lnrer.srn'c(i(J JiriJcnJ r(c(i\cJ	1,219.969	690,6L9
I Net cash generated from/(used in) investing activities (B)	35,665,223	(74,206,979)
IlC) Cash flow from Financing activities
I Rcprvm, nr uf lon;1-rcrnr lror'1, 111 1n*	(22,996,295)	(38,87e,386)
]truc, r'Jr [r,,m I,,rrg 11 16 [,,1 1,,1ying*		3,000,000
I)r'' ,cr'r d. f., 'm .hur - I(.rm b, ,rro\ inl_s \n(.t/	30,312,618	2,506,978
l)ir,idcnd paid (includirg dividend distribution tax prrd)	(4,711,238)
Intcrcst peid	(1,012,554)	(s,679,869)(6,266,831)
Proceeds from shares issued
Shatc issue expcnses incurred		1 89,696,000
Net cash (used in)/generated from financing activities (C)	(4,437,439)	125.482.857)118,894,029
Net increase/(decrease) in cash and cash equivalents (A+B+C)	1,612,236	(10,915,282)
(-ash ar-rd cash ecluir.alerrts at the bcginning of the period	13,869,441	12,681,101
Cash and cash equivalents at the end ofthe period	15.541.683	'1,,706,122
Cash and cash cquivalents comprises of :
Cash on hand	i 7,5,13	918.196
Ralence rvith banks (in curcnt accounts)	'r 5,52.r,140	i o '.JZo
Cash and cash equivalents as at end ofthe pcriod	15,54't,683	7,706,122

Notes:

• 1 The Consolidated 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 thereafter approved by the Board of Directors at their respective meetings held on 14 November 2019. There are no qualifications in the limited review report issued for the half year ended 30 September 2019.
• 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 separate segment information has been submitted as a part of these financial results.
• 4 Since subsidiaries forming part of consolidated financial results were incorporated/acquired post 30 September 2018, figures reported for the corresponding half year ended 30 September 2018 represent figures based on standalone financial results of the Company for the half year ended 30 September 2018. Pursuant to amendment of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has prepared consolidated cash flow statement for the half year ended 30 September 2019 with corresponding figures for the half year ended 30 September 2018. Cash flow figures for the half year ended 30 September 2018 are certified by the Company's Board of Directors and have not been subjected to audit or review by statutory auditors.
• 5 The Company had made an initial public offering (IPO) of 2,371,200 equity shares of face value ₹ 10 each fully paid up for cash at a price of $\bar{\xi}$ 80 per equity share (including share premium of $\bar{\xi}$ 70 per equity share) aggregating to $\bar{\xi}$ 189,696,000. The aforementioned equity shares were allotted on 9 May 2018. The equity shares of the Company got listed on NSE on 11 May 2018.

The proceeds from IPO were ₹ 189,696,000 and IPO related expenses were ₹ 25,482,857. The utilisation of the net proceeds are as follows:

			$(3 \text{ in lakhs})$
	Planned as per	Utilisation upto	Balance as at
	Prospectus	30 Sept 2019	30 Sept 2019
Product development and enhancement costs	662.40	662.40
Funding of the domestic and international product penetrationand marketing costs	598.12	329.53	268.59
Repayment/Pre-payment of certain unsecured borrowings availedby the Company	203.47	203.47
General corporate purposes (excluding transaction costs of IPO)	178.15		178.15
	1,642.14	1,195.40	446.74

The unutilised monies are temporarily parked in mutual fund schemes by the Company.

Pune Date: 14 November 2019

Director

Date: 14.11.2019

To.

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

Dear Sir/Madam,

Scrip Code: SOFTTECH

Subject: Declaration Pursuant to Regulation 33(2)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended

Pursuant to Regulation 33(2)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended), we hereby declare and confirm that the financial results do not contain any false or misleading statement or figures and do not omit any material fact which may make the statements or figures contained therein misleading.

We request you to take above information on your record.

Thanking You,

For SoftTech Engineers Limited

Vijay Gupta Chairman and Managing Director

SortTe

Empowering Transformation

Piranvez Irani Chief Financial Officer

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: L30107PN1996PLC016718

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