Take Solutions Ltd — Earnings Release 2020

Jun 12, 2020

June 12, 2020

The Manager The Manager-Listing Department Bombay Stock Exchange Limited, Exchange Plaza, Mumbai - 400001 Mumbai - 400051

TAKE/BSE/2020-21 TAKE/NSE/2020-21

Dept. of Corporate Services-Listing National Stock Exchange of India Limited P. J. Towers, Dalal Street, Bandra - Kurla Complex, Bandra (East),

Dear Sir/Madam,

Sub: Earnings Release

Ref: NSE Scrip Code: 532890 & BSE Scrip Code: TAKE

We are pleased to enclose an earnings release for your reference and record.

Kindly take note of the same.

Thanking you.

Yours sincerely, For TAKE Solutions Limited

Avaneesh Singh Company Secretary

Encl: As above.

Earnings Release

Year Ended March 31, 2020

The Year That Was

FY20

Customers - Strong traction with Small & Medium Pharma, Continued Engagement with Large Pharma and Government Bodies

Innovation – Building Life Sciences Specific Solutions

Operations - Delivery Excellence backed by Strong Processes

• ➢ 4 Regulatory Inspections by Austrian FDA, US FDA, and College of American Pathologists (at Manipal & Chennai Clinical Laboratories)
• ➢ 38 Customer Audits for both existing & new business
• ➢ No critical findings during the audits/inspections
• ➢ ISO 9001:2015 recertification complete at Frankfurt & Berlin
• ➢ ISO 9001:2015, and ISO 27001:2013 recertification complete at BA/BE facilities of Chennai, Mangalore, Manipal and Bangalore
• ➢ College of American Pathologist Accreditation for our Clinical Testing Laboratories 2019

Successfully expanded off-shore delivery centers across Chennai, Bangalore & Hyderabad

PMI - Successfully completed, Experiencing benefits of synergies

NavitasDataSciences	Revenue & Profit Improvement withsuccessful off-shore delivery model3 US-based Clients, Shifted 15% workforce toIndia (25% by end of 2020)Expected: Integrate current FSP clients into NDScombined delivery model	Up to 40% Cost Savingsin marketing budget, viacombined GTM cross selling	Joint IT and HRsupport functions enabledexpansion of NDS business opswithout adding supportresources
		Expanded reach & Cost	Significant Cost Savings

KAI Research

Pipeline growth for KAI and global reach for NLS, with KAI expected to add APAC-based clients in the future

Savings with realization of synergies due to expanded reach and marketing and sales support from NLS

NLS HR, Finance & Accounting, Secretarial & Legal, as well as IT functions support KAI

Life Sciences Leadership - Domain expertise demonstrated

• ➢ 300 members from over 50 global pharma companies
• ➢ 26 forum meetings across New York, London and Mumbai
• ➢ 81 case studies presented
• ➢ 7 white papers created, based on insights from NETS

Major Contender in Everest Group PEAK Matrix Life Sciences Clinical Trials Products PEAK Matrix Assessment 2019

Quarter in Focus – Q4 FY20

Additions to order book at $ 20 mn – Lowest in several years – Covid impact

Business slowdown due to COVID-19 from mid-February in Europe, and early March in other locations

• ➢ Clinical trials, BA/BE studies are at a standstill
• ➢ Data-based services & Technology business ongoing

Significant deals for Clinical & BA/BE studies and for Clinical Data Services

Financial Growth

Balance Sheet

All figures in INR Mn

Particulars	31-Mar-20	% Composition	FY 19	% Composition
	LIABILITIES
Shareholders' funds	15,863	64%	15,274	65%
Total outside borrowings	5,532	22%	4,739	20%
Other non-currentliabilities	645	3%	439	2%
Currentliabilities & Provisions	2,789	11%	2,887	12%
TOTAL LIABILITIES	24,829	100%	23,339	100%
	ASSETS
Non-Current Assets
Fixed Assets (Net)	12,343	50%	11,326	49%
Other Non-Current Assets	500	2%	294	1%
Current Assets
Cash & Cash Equivalents	455	2%	696	3%
Trade Receivables	8,140	33%	7,033	30%
Other Current Assets	3,390	14%	3,990	17%
TOTAL ASSETS	24,829	100%	23,339	100%

Balance Sheet – At a Glance

Cash Flow

All figures in INR Mn

Particulars	FY 2020	FY 19
Opening balance–cash and cash equivalents	467.65	3,171.39
Operating Cash Flows
Cash Profit	1,559.57	3,832.27
Changein Net Working Capital	576.26	-2,687.89
Cash fromOperations	2,135.83	1,144.38
Investing Cash Flows
Capex Investments	-1,846.61	-1,399.94
Purchase of BusinessCombinations	-748.78	-3,507.13
Increasein Other Assets	237.85	60.08
Cash used in Investing Activities	-2,357.54	-4,846.99
Financing Cash Flows
Increase in Outside Borrowings	792.59	1,513.36
OtherFinancing Activities	-587.21	-514.49
Cash from Financing Activities	205.38	998.87
Closing balance –cash and cash equivalents	451.32	467.65

Industry Benchmark

TURNOVER / TOTAL ASSETS

	TAKE	SYNEOS	ICON	IQVIA
Turnover	312	4,676	2,806	11,088
Total Assets	332	7,454	2,908	23,251
Turnover / TotalAssets	0.9	0.6	1.0	0.5
Ranking	2	3	1	4

CURRENT RATIO

	TAKE	SYNEOS	ICON	IQVIA
Current Assets	160	1,562	1,625	4,126
Current Liabilities	88	1,516	1,131	3,945
Current Assets / CurrentLiabilities	1.8	1.0	1.4	1.0
Ranking	1	4	2	3

All figures in USD Mn All figures based on latest published Annual Financial Statements

LONG-TERM ASSETS / LONG-TERM LIABILITIES RATIO

	TAKE	SYNEOS	ICON	IQVIA
Long-Term Assets	172	5,892	1,283	19,125
Long-Term Liabilities	32	2,908	119	13,043
Long-Term Assets / LongTerm Liabilities Ratio	5.4	2.0	10.8	1.5
Ranking	2	3	1	4

DEBT / EQUITY RATIO

	TAKE	SYNEOS	ICON	IQVIA
Total External Debt	74	2,787	0	11,645
Equity	211	3,030	1,658	6,714
Assets / Equity Ratio	0.4	0.9	0.0	1.7
Ranking	2	3	1	4

CASH CYCLE DAYS

	TAKE	SYNEOS	ICON	IQVIA
Average A/R Days	116	100	121	84
Average A/P Days	11	11	4	22
Cash CycleDays	105	89	118	62
Ranking	3	2	4	1

Industry Benchmark (Contd.) All figures in USD Mn

All figures based on latest published Annual Financial Statements

EBITDA MARGIN

	TAKE	SYNEOS	ICON	IQVIA
Turnover	312	4,676	2,806	11,088
EBITDA	24	584	495	2,054
EBITDAMargin (%)	7.68%	12.48%	17.64%	18.52%
Ranking	4	3	2	1

NET PROFIT MARGIN

	TAKE	SYNEOS	ICON	IQVIA
Revenue	312	4,676	2,806	11,088
Net Profit (Post Tax)	-1	131	376	191
Net ProfitMargin (%)	-0.41%	2.81%	13.39%	1.72%
Ranking	4	2	1	3

RETURN ON EQUITY

	TAKE	SYNEOS	ICON	IQVIA
Net Profit	-1	131	376	191
Average Equity	208	2,943	1,506	6,359
Return on Equity (%)	-0.62%	4.46%	24.96%	3.00%
Ranking	4	2	1	3

SCORE CARD

	TAKE	SYNEOS	ICON	IQVIA
Turnover / Total Assets	2	3	1	4
Current Assets / Current Liabilities	1	4	2	3
Cash Cycle Days	3	2	4	1
Long-Term Assets / Long-Term Liabilities Ratio	2	3	1	4
Debt/Equity Ratio	2	3	1	4
EBITDA Margin	4	3	2	1
Net Profit Margin	4	2	1	3
Returnon Equity	4	2	1	3
TOTAL	22	22	13	23

Revenue Composition

Revenue from Life Sciences has grown at 27.5**% CAGR**

as compared to the overall growth in revenue of 21.1% CAGR

TAKE has reclassified itself in both the Indian Stock Exchanges as belonging to the "Pharmaceutical" industry.

Institutional Shareholding

(Holding more than 1% of total shares)

Shareholding	March 31, 2019	June 30, 2019	September 30,2019	December 31,2019	March 31, 2020
	Number ofShares	Number ofShares	Number ofShares	Number ofShares	Number ofShares	% ofTotalShares
Promoter Holding	9,89,51,594	9,89,51,594	9,89,51,594	9,89,51,594	9,89,51,594 66.89%
First State Investments	23,01,489	23,01,489	22,15,542	22,15,542	24,15,312	1.63%
Schroder International SelectionFund	25,24,200	19,92,834	21,93,522	24,21,488	24,20,701	1.64%
SundaramMutual Fund	19,47,495	21,23,697	21,23,697	21,28,697	21,33,697	1.44%
TkpInvestments Bv	19,75,230	17,96,726	19,19,004	19,19,004	18,91,411	1.28%
Total Institutional Holding above1%	87,48,414	82,14,746	84,51,765	86,84,731	88,61,121	5.99%
	10,77,00,008	10,71,66,340	10,74,03,359	10,76,36,325	10,78,12,715	72.88%
Other Institutional Holding	1,12,29,389	1,15,86,824	1,01,31,287	1,00,21,023	97,84,833	6.61%
Others	2,90,04,603	2,91,80,836	3,03,99,354	3,02,76,652	3,03,36,452 20.51%
Total number of shares outstanding	14,79,34,000	14,79,34,000	14,79,34,000	14,79,34,000	14,79,34,000

TAKE Solutions

Overview

TAKE is a full-service Clinical Research Organization With Global Capabilities!

We support clients throughout the Drug Development & Beyond

Our Results speak for themselves

TAKE Solutions

www.takesolutions.com