SPEL Semiconductor Ltd. — Interim / Quarterly Report 2024

Feb 14, 2025

Feb 14, 2025

To, BSE LIMITED Department of Corporate Services Phiroze Jeejeebhoy Tower Dalal Street, Mumbai – 400 001

Dear Sir/Madam,

Sub: Outcome of Board Meeting to consider and approve the un-audited financial results of the Company, for the Quarter ended Dec 31, 2024.

Ref: BSE Notice No. 20230315-41 dated 15 Mar 2023

Pursuant to Regulation 30, 33 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and pursuant to BSE Notice No. 20230315-41dated Mar 15, 2023, we wish to inform that the Board of Directors of the Company at its Meeting held today i.e., Feb 14, 2025 has inter-alia approved the following:-

1. Approved the unaudited financial results of the Company for the Quarter ended Dec 31, 2024.

Copies of the Unaudited Financial Results and Limited Review Report of the Statutory Auditors of the Company for the Quarter ended 31st December 2024 are enclosed pursuant to Regulations 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Meeting of Board of Directors commenced today at 9:45 A.M and concluded at 12.45 P.M

Kindly take the same on record.

Thanking you.

Yours faithfully,

For SPEL Semiconductor Limited

P. Balamurugan Whole-Time Director DIN: 07480881

Independent Auditor's Limited Review Report on Unaudited Standalone Financial Results for the quarter ended December 31, 2024 of SPEL Semiconductor Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Requlations, 2015

Review Report to The Board of Directors, SPEL Semiconductor Limited

We have reviewed the accompanying statement of unaudited standalone financial results of SPEL Semiconductors Limited ('the Company') for the quarter and period ended 31^st December 2024. This statement, is the responsibility of the Company's Management and has been approved by the Board of Directors, has been prepared in accordance with the applicable Indian Accounting Standards (Ind AS) specified under Section 133 of the Companies Act, 2013. Our Responsibility is to issue a report on these financial statements based on our review.

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.

Basis for Qualified Review

We draw reference to accompanying statement where in the Company has incurred losses and generated negative cash flows during the period under review and in earlier years. The above indicates that a material uncertainty exists that may cast significant doubt on Company's ability to continue as a going concern. Pending resolution of the above uncertainty, the Company has prepared the aforesaid statement on going concern basis.

Based on our review conducted as above, except for the effects of the matters described above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with applicable Indian Accounting Standards (Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other recognised accounting practices and policies, 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 including the manner in which it is to be disclosed, or that it contains any material misstatement.

for Venkatesh & Co Chartered Accountants FRN: 004636S

CA Hrishikesh D Partner M No: 272865

Huishibis

UDIN:25272865BMLKXM3152 Chennai., 14th February 2025

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SPEL Semiconductor Limited

Regd. Office: 5 CMDA, Industrial Estate , Maraimalai nagar (Chennai) 603 209 CIN: L3220L TN1984PLC011434 eMail 10: info@spel.com Website: www.spel.com Statement of Unaudited Financials for the Quarter ended Dec 31, 2024

		(Rs. in Lakhs)
		Quarter Ended			Year Ended
		31 .12.24	30.09.24	31 .12.23	31 .12.24	31 .12.23	31 .03.24
Sno	Particulars	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Income
	Revenue from
1	Operations	1.88.56	1.39.14	2.27.97	5.41.17	9.62.14	12.00.41
2	Other Income	42.75	3405	38.02	1.18.37	1.08.43	1,40.96
3	Total Income (1+2)	2,31. 31	1,73.19	I 2,65.99	6,59.55 ,	10,70.57	13,41 .37
4	Expenses
	a. Cost of Materials Consumed	59.79	46.48	1.01.79	1.88.07	4.12.49	4.77.24
	b. Changes in inventories of finished goods and work in
	progress c. Employee Benefits	1.89	(3.42)	2.54	(7.30)	9. 15	1.97
	Expense	74.20	71 .89	89.96	2.22.02	3.33.17	3,94.84
	d. Finance Cost	62.53	76.10	67.96	2,09.40	1,88.89	2,57.02
	e. Depreciation and Amortisation Expense	67.41	67.43	72.56	2,02.27	2,15.35	2,87.91
	f. Power and Fuel	59.64	62.09	55.56	1,86.12	1,94.07	2,50.64
	g. Other expenses	62.43	97.29	70.86	2,45.42	2,31.42	3,32.54
	Total expenses	3,87. 88	4,17.85	4,61.23	12,46.01	15,84.53	20,02.16
	Profit! (Loss) before Exceptional items
5	(3-4)	(1,56.58)	(2,44.67)	(1 .95.24)	(5.86.46)	(5,1 3.95)	(6,60.79)
6	Exceptional items	(3,2920)	(2,22.19)	(2,45.30)	(7,25.37)	(7,13.78)	9,76.17
7	Profit! (Loss) from before tax(5-6)	(4,85.77)	(4,66.86)	(4,40.54)	(13,11 .83)	(12,27.74)	(16,36.96)
8	Tax Expense
	1) Current tax
	a) Current Period	-	-	-	-	-	-
	b- Prior Period	-	-	-	-	-	-
	C) Deferred tax charqe/(Credij)	(330)	(225)	(14.17)	(676)	(2477)	41.78
	Total Tax expense
	(a+b) Profit! (Loss) for the	(3 .30)	(2.25)	(1 4.17)	(6.76)	(24.77)	41 .78
9	year (7-8)	(4,82.47)	(4,64.61)	(4 .26.37)	(13.05.07)	(12,0296)	(16,78.74)
	Other comprehensive income I (Loss)
10	A (i) Items that will not be reclassified to Profit or Loss	-	-	-	-	-	-
	(ii) Income tax relating to items that will not be reclassified
	to Profit or Loss	24.24		(311 )	24.24	(933)	33.80

CIN : L3220HN1984PLC011434 eMail : info@spel.com Website: www.spel.com

® an Ie Assembly & Test Compa/JY

	B (i) Items that will be reclassified to Profit or Loss	-	-	-	-	-	-
	(ii) Income tax relating to items that will be reclassified to Profit or Loss	-	-	-	-	-	-
	Other Comprehensive Income (10A+10B)	24.24		(311)	24.24	(9.33)	33.80
11	Total comprehensive income J (Loss) for the period (9+10)	(4,58.23)	(4,64.61 )	(4,2948)	(12,80.83)	(12, 12.29)	(16,44.94)
12	Paid-up Equity Share Capital (Face value of Rs 101- Per Share)	4,613.25	4,613.25	4,613.25	4,613.25	4,613.25	4,613.25
	(Face value of Rs 101- Per Share)
13	Other Equity as per balance sheet	-	-	-	-	-	(13,05.20)
14	Earnings Per Share (EPS) of Rs 101- each (Not annualised)	-	-	-	-	-	-
	a) Basic	(1.05)	(1.01)	_l92J.	(2.83)	(2.61)	(364)
	b) Diluted	(1.05)	(1.01 )	(.92)	(2.83)	(2.61)	(364)

Notes:

1.The above results were submitted to the Audit Committee for review and recommendation for approval by the Board of Directors. The results were reviewed and approved by the Board of Directors in the Meeting held on Feb 14, 2025. The Statutory Auditor has conducted a limited review on the above unaudited financial results.

2.The Head (Operation) and wholetime Director, based on the internal business reporting system, identified that the Company has only one segment viz. manufacture and sale of Integrated Circuits. Accordingly, there are no other reportable segments in terms of Ind AS 108 'Operating Segments'.

1. Exceptional Items consists of : (~ in Lakh)

Particulars		Quarter Ended		Year Ended	Year Ended
	31,12.2024	30.09.2024	31.12.2023	31.12.2024	31.12.2023	31.03.2024
a. Credit balances/FG written back	-	-	(69.77)	(9, 10.75)	(2, 14.56)	(2,98.66)
b. Inventory Written Off	3,29. 19	2,22.19	3,15.07	1,85.38	9,28.34	1,274.83
Total	3,29.19	2,22.19	2,45.30	(7,25.37)	7,13.78	976.17

1. The issue of negative cash flows and incurrence of operating losses over the years highlighted by the Auditor are being addressed by restructuring of operations, adopting various cost control measures and generating revenue through proposed sale of surplus land for which members approval has been obtained.

1. The previous period figures have been regrouped I reclassified wherever necessary to conform to current period.

For and on behalf of the Board of Directors

T co...-----

P. Balamurugan Head Operations Whole-Time Director

Place : Chennai Date : Feb 14, 2025