Take Solutions Ltd — Audit Report / Information 2021

Jun 24, 2021

TECHNOLOGY ANALYTICS KNOWLEDGE ENTERPRISE

June 24, 2021

TAKE/BSE/2021-22 The Manager Dept. of Corporate Services-Listing Bombay Stock Exchange Limited, P. J. Towers, Dalal Street, Mumbai - 400001 Scrip Code: 532890

TAKE/NSE/2021-22 The Manager-Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra - Kurla Complex, Bandra (East), Mumbai - 400051 Symbol: TAKE

Dear Sir/Madam,

Sub: Outcome of the Board Meeting held on Thursday, June 24, 2021

We wish to inform you that the Board of Directors of the Company in its meeting held on Thursday, June 24, 2021 approved /took on record the following:

• 1. In compliance with Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, the Audited Financial Statement of the Company (stand-alone) and together with its subsidiaries (Consolidated) as per Indian Accounting Standards (IND AS) for the quarter (Q4) and financial year ended March 31, 2021, as recommended by the Audit Committee. Copy of the same in the prescribed format, in terms of Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, along with the Audit Report by the Statutory Auditor is enclosed herewith. In addition, a declaration by the Chief Financial Officer, regarding issuance of unmodified opinion on Audited Financial Results of the Company (Standalone and Consolidated) for year ended March 31, 2021 is also attached herewith as an Annexure.
• 1. The 20^th Annual General Meeting of the Company has been scheduled on Wednesday, August 11, 2021.

The meeting of Board of Directors of the Company commenced at 5:30 PM and concluded at 9.20 PM.

Please take note of the same.

Thanking you, Yours sincerely, For TAKE Solutions Limited razen

Srinivasan. P Company Secretary Encl: A/a:

TAKE SOLUTIONS LIMITED

Registered & Corporate Office : No: 27, Tank Bund Road, Nungambakkam, Chennai 600 034 CIN: 163090TN2000PLC046338; GSTIN: 33AABC13684M1Z0 Tel: +91 44 6611 0700/01

www.takesolutions.com

TECHNOLOGY ANALYTICS KNOWLEDGE ENTERPRIS

June 24, 2021

TAKE/BSE/2021-22 The Manager Dept. of Corporate Services-Listing Bombay Stock Exchange Limited, P. J. Towers, Dalal Street, Mumbai - 400001 Scrip Code: 532890

TAKE/NSE/2021-22 The Manager-Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra - Kurla Complex, Bandra (East), Mumbai - 400051 Symbol: TAKE

Dear Sir/Madam,

Sub: Declaration with respect to Financial Results for the financial year ended March 31, 2021

I, Lalit Mahapatra, Chief Financial Officer of TAKE Solutions Limited (CIN: L63090TN2000PLC046338) having its registered office at No: 27, Tank Bund Road, Nungambakkam, Chennai - 600 034 hereby declare that M/s. G.D. Apte & Co. Chartered Accountants, Statutory Auditors of the Company have issued an Audit Report with unmodified opinion on Audited Financial Results of the Company (Standalone and Consolidated) for the quarter and year ended March 31, 2021. This declaration is given pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements), Regulation 2015 as amended.

Please take note of the same.

Thanking you,

Yours sincerely, For TAKE Solutions Limited

Lalit Mahapatra Chief Financial Officer

TALE SOLUTIONS ERATED Registered tr Corporate Office : No: 27, Tank Bund Road, Nungambalikam, Chennar 600-034 Tel: = 9.1-4 ( 66.1.1.0700, 01)

www.takesolutions.com

Auditor's Report on audit of Consolidated Quarterly and Annual Financial Results of Take Solutions Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

INDEPENDENT AUDITOR'S REPORT

The Board of Directors Take Solutions Limited

Report on the Audit of Consolidated Financial Results

Opinion

We have audited the accompanying consolidated financial results of Take Solutions Limited (hereinafter referred to as the 'Holding Company") and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group") for the quarter and year ended March 31, 2021 attached herewith, 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').

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of report of other auditor on separate audited financial results of the subsidiary, the aforesaid consolidated financial results:

• i. include the quarterly and annual financial results pertaining to the entities listed in Annexure;
• ii. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• iii. give a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of consolidated net loss and consolidated total comprehensive loss and other financial information of the Group for the quarter and year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143 (10) of the Companies Act, 2013 ("Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the consolidated financial results.

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 -66807200, Email - audit@gdaca.com

Emphasis of Matter

We draw attention to the following matter in the Notes to consolidated financial results:

The management has taken into consideration the impact of the known internal and external events arising from COVID-19 pandemic in the assessment of recoverability of trade receivables, goodwill on acquisition, intangible assets and contract assets up to the date of approval of these consolidated financial results. In this assessment, the group has performed sensitivity analysis on the key assumptions used and carried out testing of impairment by engaging an independent external Chartered Accountant. Such testing of impairment performed by the group did not reveal any impairment losses except in case of certain intangible assets where an impairment provision of Rs. 6,844.45 lakhs has been recorded and disclosed under 'exceptional items.' Further, the liquidity and business constraints consequent to impact of COVID 19 pandemic has significantly hampered the operations of a step-down subsidiary viz. Navitas Life Sciences GmbH, Germany (a subsidiary of Ecron Acunova Limited, which is a subsidiary of TAKE Solutions Limited) and the liquidation process has been initiated as per the requirements of local laws. While such liquidation proceedings are in progress, the loss of Rs. 15,662.33 lakhs to the extent of net assets has been accounted for in Consolidated Financial Results during the year and disclosed under 'exceptional items.'.

Since the impact assessment of COVID-19 is an ongoing process, given the uncertainties associated with its nature and duration, the group will continue to closely monitor any significant impact on the group's financial position. The impact of global health pandemic might be different from that estimated as at the date of approval of these financial results.

Our opinion is not modified in respect of the above matter.

Management's Responsibilities for the Consolidated Financial Results

These Consolidated financial results have been prepared on the basis of the consolidated financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net loss and total comprehensive loss and other financial information of the Group in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the respective companies to continue

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 -66807200, Email - audit@gdaca.com

as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective companies or to cease operations, or has no realistic alternative but to do so. The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the respective companies.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of consolidated financial statements on whether the group has adequate internal financial controls with reference to the consolidated financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 -66807200, Email - audit@gdaca.com Mumbai Office: Windsor, 6^th Floor, OfficeNo-604, C.S.T. Road, Kalina, Santacruz (East), Mumbai-400 098

• Evaluate the overall presentation, structure and content of the consolidated financial results. including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of entities included in the consolidated financial results of which we are the independent auditors.

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial results of which we are independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and where applicable, related safeguards.

The consolidated financial results include the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subjected to limited review by us, as required under the listing regulations.

For G. D. Apte & Co. Chartered Accountants Firm Registration Number: 100515W UDIN: 21113053AAAABY8029

to

Umesh S. Abhyankar Partner Membership Number: 113053 Pune, June 24, 2021

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 -66807200, Email - audit@gdaca.com

Annexure

Annexure referred to in Paragraph 2 of our Audit Report on the Consolidated Financial Results of Take Solutions Limited for the Quarter and year ended March 31, 2021

Sr. No.	Particulars
A	Subsidiaries
$\mathbf{1}$	Ecron Acunova Limited
$\overline{2}$	TAKE Solutions Global Holding Pte Ltd
3	TAKE Solutions Limited ESOP Trust
4	Navitas LLP
5	APA Engineering Private Limited (disinvested during the year)
В	Step Down Subsidiaries
1	APA Engineering Pte Limited, Singapore (disinvested during the year)
$\overline{2}$	APA Engineering Inc., USA (disinvested during the year)
3	TAKE Solutions Information Systems Pte Ltd, Singapore
4	TAKE Enterprise Services Inc., USA
5	TAKE Innovations Inc, USA
6	Navitas Life Sciences Holdings Limited, UK
7	Million Star Technologies Limited, Mauritius
8	Intelent Inc, USA
9	Navitas Life Sciences Limited, UK
10	Navitas Inc., USA
11	Navitas Life Sciences S. A. S. Colombia
12	Navitas Life Sciences SG Pte. Limited (Incorporated during the year)
13	Acunova Life Science Inc., USA
14	Navitas Life sciences Company Limited, Thailand
15	Acunova Life Sciences Limited, UK

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 -66807200, Email - audit@gdaca.com

		ATAKE
		TAKE SOLUTIONS LTD
	CIN: L63090TN2000PLC046338
	Regd. Office: 27, Tank Bund Road, Nungambakkam, Chennai 600 034
	www.takesolutions.com
	Statement of Audited Consolidated Financial Results for the quarter and year ended March 31, 2021
						( F In Lakhs except per share data)
SI.			Quarter Ended			Vear Ended
No.	Particulars	Mar 31. 2021	Dec 31. 2020	Mar 31, 2020	Mar 31,	Mar 31.
		(Audited)	(Unaudited)	(Audited)	2021 (Audited)	2020 (Audited)
л $\overline{1}$	CONTINUING OPERATIONS Revenue from operations
$\overline{\mathbf{c}}$	Other Income	22,099.48 88 36	21,639.15 956.52	37,066.59 1,562.73	77,401.45 1,199.66	221,289.95 2,638.89
$\mathfrak{z}$ 4	Total Revenue Expenses	22,187.84	22,595.67	38,629.32	78,601.11	223,928.84
	Cost of revenue	4,894.94	5,374.00	14,756.14
	Employee benefit expenses Finance cost	8,994,01	11,908.98	18,316.54	18,807.73 47,375,35	66,161.99 71,858.06
	Depreciation and amortisation	827.94 2,808.30	939.81	1,026.66	3,731.03	4,127.43
	Other expenses	3,983.77	2,831.89 3,819.17	4,034.57 19,491.86	11,538.03 18,521.78	16,692.80 66,380.29
5	Total Expenses Profit/(Loss) before exceptional items and tax (3-4)	21,508.96	24,873.85	57,625.77	99,973.92	225,220.57
6	Exceptional items (refer note 4 and 5)	678.88 (6,844,45)	(2, 278, 18)	(18,996.45)	(21, 372.81) (22, 506, 78)	(1, 291, 73)
7 8	Profil/(Loss) before tax (5-6) Tax expense	(6, 165.57)	(2, 278.18)	(18,996,45)	(43,879.59)	(1, 291.73)
	Current tax	886.81	85.65	783.26	1,353.98
	Shortfall / (excess) provision of earlier years	(118.44)		(0.15)	(118.44)	4,148.00 (172.14)
9	Deferred tax Profit/(Loss) for the period from continuing operations (7-8)	(121.20) (6, 812, 74)	201.13 (2, 564.96)	(3,864,40) (15,915,16)	119.50	(4,173,40)
B	DISCONTINUED OPEARATIONS				(45, 234.63)	(1,094.19)
10	Profit/(Loss) from discontinued operations before tax		19.26		317.46
$\vert$ 1 12	Less: Tax expense on discontinued operations				89.96
13	Profit/(Loss) for the period from discontinued operations (10-11)		19,26		227,50
	Total Profit/(Loss) for the period (9+12)	(6, 812, 74)	(2,545.70)	(15,915.16)	(45,007,13)	(1,094.19)
4	Profit/(1.0ss) for the period from continuing operations (9) Attributable fo:
	Shareholders of the company	(6,808,89)	(2, 564, 70)	(15,793.04)	(45,342,56)	(1,236.03)
	Non-controlling interest	(3.85)	(0.26)	(122.12)	107.93	141.84
		(6, 812.74)	(2, 564, 96)	(15,915,16)	(45, 234, 63)	(1,094.19)
	15 Profit/(Loss) for the period from discontinued operations (12) Attributable to:
	Shareholders of the company	¥	19.26	÷.	140.04
	Non-controlling interest	E)		¥	87.46
16	Other Comprehensive Income from continuing operations		19.26	¥	227,50
	a) i) Items that will not be reclassified to profit or (loss) ii) Income tax provision / (reversal) relating to the items that will not be	63.41	78.20	(10,96)	125.27	(139, 15)
	reclassified to profit or (loss)	18.27	26.16	14.74	38.45	(27.51)
	b) i) Items that will be reclassified to profit or (loss) ii) Income tax provision / (reversal) relating to the items that will be	413.08	(442.46)	3.156.80	403.02	7,283.92
	reclassified to profit or (loss)	11,63	(7.43)	(4.54)	(4.00)	(15.29)
	Total Other Comprehensive Income from continuing operations	446,59	(382.99)	3,135.64	493.84	7,187.57
$ 7\rangle$	Other Comprehensive Income from discontinued operations
	Items that will not be reclassified to profit or (loss) Income tax provision / (reversal) relating to the items that will not be	ï	z	٠	(5.97) (2, 12)
	reclassified to profit or (loss)
	Total Other Comprehensive Income from discontinued operations	٠	٠	٠	(3.85)
18	Total Other Comprehensive Income	446.59	(382.99)	3,135.64	489.99	7,187.57
19	Other Comprehensive Income from continuing operations (16)
	Attributable to: Shareholders of the company	441.57	(379.14)	3,147.95	497.66	7,199,88
	Non-controlling interest	5.02	(3.85)	(12.31)	(382)	(12,31)
20	Total Other Comprehensive Income from discontinued operations (17)	446.59	(382, 99)	3,135.64	493.84	7,187,57
	Attributable to:
	Shareholders of the company Non-controlling interest		٠		(2, 23) (1.62)	٠
					(3.85)
21	Total Comprehensive Income for the period (13+18)	(6,366,15)	(2,928.69)	(12, 779.52)	(44,517,14)	6,093.38

Continued

SI.			Quarter Ended			Year Ended
N 0	Particulars	Mar 31, 2021	Dcc 31. 2020	Mar 31. 2020	Mar 31, 2021	Mar 31, 2020
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
22	Total Comprehensive Income from Continuing operations (14+19) Attributable to: Shareholders of the company Non-controlling interest	(6,367.32) 1.17 (6,366.15)	(2,943,84) (4.11) (2,947.95)	(12, 645.09) (134.43) (12,779.52)	(44, 844.90) 104.11 (44,740.79)	5,963.85 129.53 6,093.38
23	Total Comprehensive Income from Discontinued operations (15+20) Attributable to:
	Shareholders of the company Non-controlling interest		19.26 19.26		137.81 85.84 223.65
24 25	Paid-up equity share capital (Face value ₹ 1/- each) Earnings per share (of $\bar{z}$ 1/- each not annualised) (a) Basic	1,462.25	1,462.25	1,462.25	1,462.25	1,462.25
	(i) Continuing operations (ii) Discontinued operations Total Operations (b) Diluted (i) Continuing operations (ii) Discontinued operations Total Operations	(4.66) (4.66) (4.66) (4.66)	(1.75) 0.01 (1.74) (1.75) 0.01 (1.74)	(10.81) ۰ (10.81) (10.79) (10.79)	(31.01) 0.10 (30.91) (31.01) 0.10 (30.91)	(0.85) (0.85) (0.84) (0.84)

Segment Wise Revenue and Results
Primary Segment Information

$($ [ In Lakhs)
		Quarter Ended			Year Ended
Particulars	Mar 31, 2021	Dec 31, 2020	Mar 31, 2020	Mar 31, 2021	Mar 31, 2020
	(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
Continuing Operations IA.
1. Segment Revenue
(i) Life Sciences	22,099.48	21,639.15	34,324.12	74,116.54	207,920.85
(ii) Supply Chain Management			2,742.47	3.284.91	13,369.10
Revenue from Operations	22,099.48	21,639.15	37,066.59	77,401.45	221,289.95
2. Segment Results
(i) Life Sciences	(20,666,48)	(744.30)	(17, 246.65)	(38, 233, 83)	5,011.07
(ii) Supply Chain Mangement			(391.29)	381.57	660.57
Total	(20, 666.48)	(744.30)	(17, 637.94)	(37, 852.26)	5,671.64
Less: (i) Finance cost	827.94	939.81	1,026.66	3,731.03	4,127.43
(ii) Other Un-allocable Expenditure net off Un-allocable Income	(15,328.85)	594.07	331.85	2,296.30	2,835.94
Profit Before Tax - Continuing Operations	(6, 165.57)	(2, 278, 18)	(18,996.45)	(43,879.59)	(1, 291.73)
Discontinued Operations - Supply Chain Management IB.
Segment Revenue				4,757.62
Segment Results		19.26	٠	317.46
Less: $(i)$ Finance cost
(ii) Other Un-allocable Expenditure net off Un-allocable Income			۰
Profit Before Tax - Discontinued Operations	٠	19.26	$\frac{1}{2}$	317.46	×.
Segregation of assets, liabilities, depreciation and other non-cash expenses into various primary segments has not been carried out as the assets are used
interchangeably between segments. Accordingly, no disclosure relating to segmental assets and liabilities has been made.

Note: 1. Consolidated Statement of Assets and Liabilities

	$($ In Lakhs $)$
	Particulars	Asat	As at
		Mar 31, 2021	Mar 31, 2020
	ASSETS	(Audited)	(Audited)
	Non-current assets
(a)	Property, plant and equipment
(b)	Capital work in progress	19,438.65 20.88	28,955.85
(c)	Right-of-use asset	3,281.76	76.89 4,870.62
(d)	Goodwill	23,711.15	23,837.54
(e)	Other intangible assets
	(i) Goodwill on business acquisition	26,399.44	32,827.39
	(ii) Other intangible assets	20,544.20	32,860.29
(f) (g)	Intangible assets under development Financial Assets		6.00
	(i) Investments
	(ii) Loans	743.58	1,167.27
	(h) Deferred tax assets (net)	662.34 1,848.97	715.80
(i)	Income tax assets (net)	1,356.45	1,879.85 878.09
(i)	Other non-current assets	357.54	362.84
	Total Non-Current Assets	98,364.96	128,438.43
(a)	Current assets Inventories
(b)	Financial assets	60.54	342.23
	(i) Investments		582.55
	(ii) Trade receivables	43,385.94	70,082.98
	(iii) Unbilled receivables	5,566.86	11,233.13
	(iv) Cash and cash equivalents	3,897.44	4,513.20
	(v) Bank balances other than (iii) above	31.82	36.16
	(vi) Other financial assets Other current assets	13,292.08	14,009.92
(c)	Total Current Assets	19,859,26	19,086.81
		86,093.94	119,886.98
	Total Assets	184,458.90	248,325.41
	EQUITY AND LIABILITIES
	Equity
(a)	Equity share capital	1,462.25	1,462.25
(b)	Other equity	111,006.94	156,072.65
(c)	Non-controlling interests	(39.09)	1,004.13
	Total Equity	112,430.10	158,539.03
	Non-current liabilities
(a)	Financial liabilities
	(i) Borrowings	13,445.55	17,353.18
	(ii) Lease liabilities	2,683.97	3,917.36
	(b) Provisions	807.63	719.81
(c)	Deferred tax liabilities (net) Total Non-Current Liabilities	2,661.74	1,821.64
		19,598.89	23,811.99
	Current liabilities
(a)	Financial liabilitics
	(i) Borrowings	31,567.21	34,062.41
	(ii) Trade Payables (iii) Other financial liabilities	4,155.08 8,787.86	6,092.75 13,973.70
	(iv) Lease liabilities	864.79	1,058.04
(b)	Other current liabilities	5,394.53	8,543.08
(c)	Provisions	65.84	82.28
(d)	Income tax liabilities (net)	1,594.60	2,162.13
	Total Current Liabilities	52,429.91	65,974.39
	Total Equity and Liabilities	184,458.90	248,325.41

2. Consolidated Statement of Cash flows

(₹ In Lakhs)
		Year ended
Particulars	Mar 31,	Mar 31,
	2021	2020
NET PROFIT/(LOSS) BEFORE TAX	(Audited)	(Audited)
Adjustments for	(43, 562.13)	(1, 291.73)
Depreciation and Amortisation
Finance Cost	11,538.03	16,692.80
Interest income	3,731.03	4,127.43
(Profit)/Loss on sale of investments	(77.65)	(125.92)
Employee stock option expense	(2.81)	(1.58)
Dividend income	157.24	319.25
Loss/(gain) on foreign exchange adjustments		(1.09)
Profit on revaluation of financial instruents	618.71	(1,196.52)
Profit on sale of subsidiary	(55.31)	(446.58)
Loss on liquidation of subsidiary and impairment loss	(19.26)
Provision for Expected credit loss and bad debts	22,506.78
	3,233.43	1,560.45
Operating Profit before Working Capital Changes	(1,931.94)	19,636.51
(Increase)/Decrease in loans and advances, trade receivables and other assets Increase/ (Decrease) in trade payables, liabilities and provisions	17,631.36	(10,678.70)
Cash flow from/ (used in) Operations	(211.13)	17,393.94
Direct taxes paid, net of refunds	15,488.29	26,351.75
NET CASH FROM /(USED) IN OPERATING ACTIVITIES	(1,964.33)	(5,237.33)
	13,523.96	21,114.42
B) CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property Plan and Equipment	(314.80)	(15,760.28)
Product development expenses	(0.72)	(2,489.68)
Sale of fixed assets	135.83	1.01
(Purchase) / sale of investments		(217.11)
Inflow on account of disposal of subsidiary	1,740.00
(Purchase) / sale on account of Business Combinations	(7, 336.50)	(7,487.80)
Dividend income		1.09
Interest income	77.65	125.92
Reduction / (Increase) of bank deposits	(0.29)	2,257.95
NET CASH FROM /(USED) IN INVESTING ACTIVITIES	(5,698.83)	(23, 568.90)
C) CASH FLOW FROM FINANCING ACTIVITIES
Net movement in Long/short-term borrowings	(4,067.94)	7,925.90
Proceeds from exercise of employee options		64.76
Dividend Paid on equity shares including dividend distribution tax	÷	(711.38)
Payment of Lease Liability	(1, 159.80)	(1,526.31)
Finance Cost	(3, 166.90)	(3,699.16)
NET CASH FROM /(USED) IN FINANCING ACTIVITIES	(8, 394.64)	2,053.81
Net Increase/(Decrease) in Cash & Cash equivalents
Add: Cash and cash equivalents as at the beginning of the year	(569.51)	(400.67)
Exchange difference on translation of foreign currency cash and cash equivalents	4,513.20 (46.25)	4,676.48 237.39
Cash & Cash equivalents as at the end of the year	3,897.44	4,513.20

• The Consolidated Financial Results for the quarter and year ended March 31, 2021 have been reviewed and recommended by the Andit Committee and approved by the Board of Directors of the company in their respective meetings held on June 24, 2021. The statutory auditors of the company have carried out the audit of the results for the quarter and year ended March 31, 2021.
• The transported use each mo-density me have entered on the known nuclear and external events arising from COATD-1A bandemic in the assessment of recoverability of trade receivables, goodwill on acquisition, intangible assets and contract assets up to the date of approval of these consolidated financial recoveraging of the experiments, southing of acquirement, interpretent week and control weeks are seen as a specific way to meet constraints management by engaging an results. In this assessment, the group has performed se independent external Chartered Accountant. Such testing of impairment performed by the group did not reveal any impairment losses except in case of certain intenglible assets where an impairment provision of $\bar{\epsilon}$ 6,844.45 lakhs has been recorded and disclosed under 'exceptional items'. Further, the liquidity and business constraints consequent to impact of COVID 19 pandemic has significantly hampered the operations of a step-down subsidiary viz. Navitas Life Sciences constructive consequent to impact of your activity processing interpretations are operations of a superson occurrence interpretation process has been Sciences Gmbh, Germany (a subsidiary of Ecron Acunova Limited, initiated as per the requirements of local laws. While such liquidation proceedings are in progress, the loss of ₹ 15,662.33 lakhs to the extent of net assets has been accounted for in Consolidated Financial Results during the year and disclosed under 'exceptional items',

Since the impact assessment of COVID-19 is an ongoing process given the uncertainties associated with its nature and duration, the Group will continue to closely monitor any significant impact on the financial position. The impact of global health pandemic might be different from that estimated as at the date of approval of these financial results.

• $\overline{\mathbf{S}}$ The Code on Social Security, 2020 (the Code) has been enacted, which would impact contribution by the Group Companies registered in India towards applicable social security schemes. The Ministry of Labour and Employment has also released draft rules thereunder on November 13, 2020 and has invited suggestions from stakeholders which are under active consideration by the Ministry. The actual impact on account of this change will be evaluated and accounted for when notification becomes effective.
• 6 In order to enhance the life sciences business activities, the group has, during the Quarter ended March 31, 2021, formed a subsidiary viz. Navitas Life Science SG Pte Ltd in Singapore (as a subsidiary of TAKE Solutions Global Holdings Pte Ltd which is wholly owned subsidiary of TAKE Solutions Limited). The subsidiary is expected to commence its operations during the Financial year 2021-22.
• The Consolidated and Standalone financial results for the quarter and year ended March 31, 2021 are available on the Company's website (www.takesolutions.com) and the website of BSE (www.bseindia.com) and NSE (www.nseindia.com)
• During the year ended March 31, 2021, the group divested its entire equity stake in one of the subsidiary viz. APA Engineering Pvt Ltd and the net profit of ₹ 208.24 lakhs (after adjusting tax expense of ₹ 89.96 lakhs) has been disclosed under 'Discontinued operations.' The shares have been transferred during the year for a consideration of ₹1,740 lakhs and the profit of ₹19.26 lakhs has also been disclosed under 'Discontinued operations.'
• The financial results of TAKE Solutions Limited (Standalone information)

Particulars		Quarter Ended	Year Ended
	Mar 31. 2021	Dec 31. 2020	Mar 31. 2020	Mar 31. 2021	Mar 31. 2020
	(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
Total income	69.25	253.06	(191.93)	1,221,72	2,854.30
Net profit/(loss) before tax	(223.26)	1,103,17	(589.54)	651.74	693.81
Net profit/(loss) for the period	(124.10)	.096.60	(652.71)	779.26	773.53
Total comprehensive income	(129.55)	1,099,73	(651.26)	783.55	772.56

CHENNA

10 Previous period figures have been regrouped /reclassified, wherever necessary to conform to current period's classification.

Place: Chennai Date: June 24, 2021 For and on behalf of the Board of Directo-

HR Srinivasan Digitally signed by HR Srinivasan Srinivasan H.R.

Vice Chairman & Managing Director

Auditor's Report on audit of Standalone Quarterly and Annual Financial Results of Take Solutions Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and disclosure Requirements) Regulations, 2015

INDEPENDENT AUDITOR'S REPORT

The Board of Directors Take Solutions Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying standalone financial results of Take Solutions Limited (the company) for the quarter and year ended March 31, 2021, attached herewith, 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").

In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results:

• i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information for the quarter and year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Act and the Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the standalone financial results.

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 $-66807200$ , Email $-\frac{1}{2}$ audit@gdaca.com

Emphasis of Matter

We draw attention to the following matter in the Notes to standalone financial results:

The management has taken into consideration the impact of the known internal and external events arising from COVID-19 pandemic in the assessment of recoverability of trade receivables, contract assets and certain investments in subsidiaries up to the date of approval of these standalone financial results. In this assessment, the company has performed sensitivity analysis on the key assumptions used and carried out testing of impairment by engaging an independent external Chartered Accountant. Such testing of impairment performed by the company did not reveal any impairment losses. However, the liquidity and business constraints consequent to impact of COVID 19 pandemic has significantly hampered the operations of a step-down subsidiary viz. Navitas Life Sciences GmbH, Germany (a subsidiary of Ecron Acunova Limited, which is a subsidiary of TAKE Solutions Limited) and the liquidation process has been initiated as per the requirements of local laws. While such liquidation proceedings are in progress, the loss of Rs. 15,662.33 lakhs to the extent of net assets has been accounted for in Consolidated Financial Statements in the year. Considering the business projections, no impairment is required to be made against investments of the company in Ecron Acunova Limited in the Standalone Financial Results.

Since the impact assessment of COVID-19 is an ongoing process, given the uncertainties associated with its nature and duration, the company will continue to closely monitor any significant impact on the financial position. The impact of global health pandemic might be different from that estimated as at the date of approval of these financial results.

Our opinion is not modified in respect of the above matter.

Management's Responsibilities for the Standalone Financial Results

These Standalone financial results have been prepared on the basis of the standalone annual financial statements. The Company's Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder, other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 - 66807200, Email - audit@gdaca.com

to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Mumbai Office: Windsor, 6^th Floor, OfficeNo-604, C.S.T. Road, Kalina, Santacruz (East), Mumbai-400 098

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 - 66807200, Email - audit@gdaca.com

G.D. Apte & Co. Chartered Accountants

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

The standalone financial Results include the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year, which were subjected to limited review by us, as required under the listing regulations.

For G. D. Apte & Co. Chartered Accountants Firm Registration Number: 100 515W UDIN: 21113053AAAABX1233

$ACB$

Umesh S. Abhyankar Partner Membership Number: 113 053 Pune, June 24, 2021

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 - 66807200, Email - audit@gdaca.com

TAKE SOLUTIONS LTD CIN: L63090TN2000PLC046338 Regd. Office: 27, Tank Bund Road, Nungambakkam, Chennai 600 034 www.takesolutions.com

	Statement of Audited Standalone Financial Results for the quarter and year ended March 31, 2021				(₹ In Lakhs except per share data)
			Quarter Ended	Year Ended
SI. No.	Particulars	Mar 31, 2021	Dec 31, 2020	Mar 31, 2020	Mar 31, 2021	Mar 31, 2020
		(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)
A	CONTINUING OPERATIONS
$\mathbf{I}$	Revenue from operations		17.79	63.02	186.09	246.5
$\overline{2}$ 3	Other Income	69.25	235.27	(254.95)	1,035.63	2,607.7
4	Total Income Expenses	69.25	253.06	(191.93)	1,221.72	2,854.30
	Cost of revenue
	Employee benefit expenses		16.50	60.30	154.94	178.44
	Finance cost	103.87	80.61	148.53	412.35	632.24
	Depreciation and amortisation	8.28	8.70	9.86	35.57	42.51
	Other expenses	39.06	39.28	39.28	156.78	174.17
	Total Expenses	141.30	386.61	139,64	1,192.15	1,133.13
5	Profit/(Loss) before exceptional items and tax (3-4)	292.51	531.70	397.61	1,951.79	2,160.49
6	Exceptional items	(223.26)	(278.64)	(589.54)	(730.07)	693.81
	Profit on sale of subsidiary		1,381.81
$\overline{7}$	Profit/(Loss) before tax (5-6)	(223.26)	1,103.17	(589.54)	1,381.81 651.74
8	Tax expense					693.81
	Current tax			35.05		61.16
	Shortfall / (excess) provision of earlier years	(99.70)			(99.70)	(86.63)
	Deferred tax	0.54	6.57	28.12	(27.82)	(54.25)
9	Profit/(Loss) for the period from continuing operations (7-9)	(124.10)	1,096.60	(652.71)	779.26	773.53
B	DISCONTINUED OPEARATIONS
10	Profit/(Loss) from discontinued operations before tax	¥
11	Less: Tax expense on discontinued operations			÷ ٠	× ×
12	Profit/(Loss) for the period from discontinued operations (8-9) after tax	¥		٠
13	Profit/(Loss) for the period (9+12)	(124.10)	1,096.60	(652.71)	779.26	773.53
14	Other Comprehensive Income a) i) Items that will not be reclassified to profit or (loss) ii) Income tax provision / (reversal) relating to the items that will not	(7.29)	4.19	2.03	5.73	(1.30)
	be reclassified to profit or (loss)	(1.84)	1.06	0.58	1.44	(0.33)
	b) i) Items that will be reclassified to profit or (loss) ii) Income tax provision/(reversal) relating to the items that will be			$\bullet$
	reclassified to profit or (loss)
	Total Other Comprehensive Income	(5.45)	3.13	1.45	4.29	(0.97)
15 16	Total Comprehensive Income Paid-up equity share capital (Face value ₹ 1/- each)	(129.55)	1,099.73	(651.26)	783.55	772.56
17	[Earnings per share (of ₹ 1/- each) (not annualised)	1,479.34	1,479.34	1,479.34	1,479.34	1,479.34
	(a) Basic (in ₹)	(0.08)	0.74	(0.45)	0.53	0.52
	(b) Diluted (in ₹)	(0.08)	0.74	(0.47)	0.53	0,50

Note:

1. Standalone Statement of Assets and Liabilities

			(₹ In Lakhs)
	Particulars	As at	As at
		Mar 31, 2021	Mar 31, 2020
	ASSETS	(Audited)	(Audited)
	Non-current assets
(a)	Property, plant and equipment
	(b) Right-of-use assets	162.18	232.11
	(c) Other intangible assets	280.87	365.13
(d)	Investment in subsidiaries	iΩi
(e)	Financial Assets	51,678.44	51,731.87
	(i) Loans
	(ii) Other financial asset	591.92	595,28
(f)	Deferred tax assets (net)
	(g) Income tax assets (net)	238.85	212.47
	(h) Other non-current assets	1,062.37	950.92
	Total Non-Current Assets
		54,014.63	54,087.78
	Current assets
(a)	Inventories
(b)	Financial assets		2.45
	(i) Investments
	(ii) Trade receivables	237.02	700.19
	(iii) Cash and cash equivalents	1,125.43	74.39
	(iv) Bank balances other than (iii) above	24.73	29.35
	$(v)$ Loans	13,855.64	12,893.50
	(vi) Other financial assets	7,293.63	9,262.65
(c)	Other current assets	2,075.54	579.27
	Total Current Assets	24,611.99	23,541.80
	Total Assets	78,626.62	77,629.58
	EQUITY AND LIABILITIES
	Equity
(a) (b)	Equity share capital Other equity	1,479.34	1,479.34
	Total Equity	76,028.07 77,507.41	75,103.22
			76,582.56
	Non-current liabilities
(a)	Financial liabilities
	(i) Other financial liabilities	149,86	216.65
	(ii) Lease liabilities	238.62	320.19
(b)	Provisions	81.37	75.18
	Total Non-Current Liabilities	469.85	612.02
	Current liabilities
(a)	Financial liabilities
	(i) Trade Payables	188.00	94.89
	(ii) Other financial liabilities	363.22	256.41
	(iii) Lease liabilities	81.57	64.51
(b)	Other current liabilities (c) Provisions	9.90	14.48
	Total Current Liabilities	6.67 649.36	4.71
			435.00
	Total Equity and Liabilities	78,626.62	77,629.58

2. Standalone Statement of Cash flows

		$($ ₹ In Lakhs)
Particulars		Year ended
	Mar 31,	Mar 31,
	2021	2020
A) CASH FLOW FROM OPERATING ACTIVITIES	(Audited)	(Audited)
NET PROFIT/(LOSS) BEFORE TAX
Adjustments for	651.74	693.81
Depreciation	156.78
Finance Cost	35.57	174.17
Dividend income		42.51
Interest income	(794.69)	(48.96)
Unwinding of liability for financial guarantee contracts	(242.11)	(916.05) (200.51)
Employee stock option expense	17.74	115.47
Bad debts and provision for expected credit losses	111.67	31.74
Loss/(gain) on foreign exchange adjustments	245.42	(437.92)
Gain on sale of investment in subsidiary (Refer note 5)	(1, 381.81)
Creditors written back	(12.40)
Lease concessions received	(75.00)
Operating Profit before working Capital Changes	(1, 287.09)	(545.74)
(Increase)/Decrease in loans & advances and other assets	812.51	(101.16)
Increase/ (Decrease) in liabilities and provisions	220.67	(726.43)
Cash flow from/ (used in) Operations	(253.91)	(1,373.33)
Direct taxes paid	(11.80)	(117.40)
NET CASH FROM/(USED IN) OPERATING ACTIVITIES	(265.71)	(1, 490.73)
B) CASH FLOW FROM INVESTING ACTIVITIES
Purchase of fixed assets	(2.58)
Proceeds from sale of investments in a subsidiary (Refer note 5)	1,740.00
Dividend income	×,	48.96
Interest income		1,211.55
Loans to related parties	(395.67)	(1, 333.55)
Reduction/ (Increase) of bank deposits		2,251.75
NET CASH FROM /(USED IN) INVESTING ACTIVITIES	1,341.75	2,178.71
C) CASH FLOW FROM FINANCING ACTIVITIES
Dividends paid on equity share including dividend distribution tax		(710.05)
Payment of lease liability	(25.00)	(115.70)
NET CASH FROM/(USED IN) FINANCING ACTIVITIES	(25.00)	(825.75)
Net Increase/(Decrease) in Cash & Cash equivalents	1,051.04
Add: Cash and Cash equivalents as at the beginning of the year	74.39	(137.77) 212.16
Cash & Cash equivalents as at the end of the year	1,125.43	74.39

The Standalone Financial Results for the quarter and year ended March 31, 2021 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the company in their respective meetings held on June 24, 2021. The statutory auditors of the company have carried out the audit of the results for the quarter and year ended March 31, 2021. $\overline{4}$

The management has taken into consideration the impact of the known internal and external events arising from COVID-19 pandemic in the assessment of recoverability of trade receivables, contract assets and certain investments in subsidiaries up to the date of approval of these Standalone Financial results. In this assessment, the company has performed sensitivity analysis on the key assumptions used and carried out testing of impairment by engaging an independent external Chartered Accountant. Such testing of impairment performed by the company did not reveal any impairment losses. However, the Inquidity and business constraints consequent to impact of COVID 19 pandemic has significantly hampered the operations of a step-down subsidiary viz. Navitas Life Sciences Gmbh, Germany (a subsidiary of Ecron Acunova Limited, which is a subsidiary of TAKE Solutions Limited) and the liquidation process has been initiated as per the requirements of local laws. While such liquidation proceedings are in progress, the loss of $\bar{\epsilon}$ 15,662.33 lakhs to the extent of net assets has been accounted for in Consolidated Financial Statements in the year, Considering the business projections, no impairment is required to be made against investments of the company in Ecron Acunova Limited in the Standalone Financial Results.

Since the impact assessment of COVID-19 is an ongoing process given the uncertainties associated with its nature and duration, the Company will continue to closely monitor any significant impact on the financial position. The impact of global health pandemic might be different from that estimated as at the date of approval of these financial results.

• During the year 2020-21, the company had divested its entire equity stake in one of the subsidiaries viz. APA Engineering Private Limited for a consideration of $\overline{\epsilon}$ 1,740 lakhs. The company has recorded profit of $\overline{\epsilon}$ 1,381.81 lakhs on the sale of investments in subsidiary which has been disclosed under 'Exceptional items',
• During the year 2020-21, the company erroneously recognized revenue aggregating to ₹1,856.84 lakhs in respect of shared services and share of profit 6 from group entities which should not have been recognized since the intercompany arrangements were cancelled mainly due to situations emerging out of COVID 19 pandemic. In compliance with the requirements of Ind AS 8, 'Accounting Policies, Changes in Accounting Estimates and Errors,' the company has reinstated the corresponding financial results for the financial year ended March 31, 2020 by adjusting the Revenue from operations along with the corresponding impact of reduction of ₹ 136.55 lakhs in provision for current tax.
• The Code on Social Security, 2020 (the Code) has been enacted, which would impact contribution by the Company towards applicable social security schemes. The Ministry of Labour and Employment has also released draft rules thereunder on November 13, 2020 and has invited suggestions from stakeholders which are under active consideration by the Ministry. The actual impact on account of this change will be evaluated and accounted for when notification becomes effective
• In order to enhance the life sciences business activities, the company has, during the quarter ended March 31, 2021, formed a step down foreign -8 subsidiary viz. Navitas Life Science SG Pte Ltd in Singapore (as a subsidiary of TAKE Solutions Global Holdings Pte Ltd which is wholly owned subsidiary of TAKE Solutions Limited). The step down subsidiary is expected to commence its operations during the Financial ycar 2021-22.
• The company on a standalone basis operates in the business segment of promotion of services related to Life Sciences and hence there is only one $\mathbf Q$ business segment. The company on a standalone basis is primarily operating in India, which is considered as single geographical segment. Accordingly, segment information has not been separately disclosed.
• 10 During the quarter cndcd March 31, 2021, employees have not exercised any equity shares under Employee Stock Option Scheme of the Company.
• 11 Previous period figures have been regrouped /reclassified, wherever necessary to conform to current period's classification.

Place: Chennai Date: June 24, 2021

$\overline{10}$ CHENNA For and on behalf of the Board of Directors

$H$ R Srinivasan Digitally signed by H R Srinivasan Srinivasan H.R.

Vice Chairman & Managing Director