Take Solutions Ltd — Interim / Quarterly Report 2021

Nov 12, 2021

TECHNOLOGY ANALYTICS KNOWLEDGE ENTERPR

November 12, 2021

TAKE/BSE/2021-22 The Manager Dept. of Corporate Services-Listing BSE 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 Friday, November 12, 2021 - Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ended September 30, 2021

We wish to inform you that the Board of Directors of the Company in its meeting held on Friday, November 12, 2021, approved the Unaudited Financial Results of the Company (Standalone) and together with its subsidiaries (Consolidated) for the quarter ended September 30, 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 Limited Review Report by the Statutory Auditors is enclosed herewith.

The meeting of Board of Directors of the Company commenced at 5.30 PM 1ST and concluded at b Ao PM. 1ST.

Please take note of the same.

Thanking you, Yours sincerely, For TAKE Solutions Limited

Srinivasan. P Company Secretary Encl: A/a:

TAKE SOLUTIONS LIMITED Registered & Corpornte Off1Ce : No: 27. Tank Bund Ro.id, Nungamb.ikkc1m. Cl1enna1 600 034 CIN: 1630901 tl2000PLC046l38, l,STIN. 3311/\Bl 13684M I ZO • + I

www.takesolutions.co

Limited Review Report

The Board of Directors Take Solutions Limited

• 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Take Solutions Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter and the half year ended September 30, 2021 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 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 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 Statements are free of material misstatement. A review of interim financial information consists of making inquiries, primarily of parent's personnel 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 Standards on Auditing specified under Section 143 (10) of the Companies Act, 2013 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.
• 1. The Statement includes the consolidation of results pertaining to the entities listed in Annexure.
• $5.$ 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 the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms 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. We draw attention to the following matter in the Notes to the consolidated financial results:
• a. 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 statement. In this assessment, the group has performed sensitivity

Mumbal Office: Windsor, 6^th Floor, OfficeNo-604, C.S.T. Road, Kallna, Santacruz (East), Mumbal-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

analysis on the key assumptions used. Such review and analysis performed by the group did not reveal any impairment losses.

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.

b. As at March 31, 2021, the income on financial assets and financial assets exceeded 50% of gross income and total assets respectively due to which the parent satisfied the "principal business criteria" for Non-Banking Financial Company (NBFC) as per RBI directives. The parent on the basis of its operational plans believes that this scenario would be temporary and the statement for the quarter and half year ended September 30, 2021 has been prepared in the formats applicable to the companies other than NBFCs.

25

Our conclusion is not modified in respect of the above matters.

For G. D. Apte & Co. Chartered Accountants Firm Registration Number: 100 515W UDIN: 21113053AAAADK9549

$\sqrt{6}$

Umesh S. Abhyankar Partner Membership Number: 113053 Pune, November 12, 2021

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

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

Annexure

Annexure referred to in Paragraph 4 of our Limited Review Report on the Consolidated Financial Results of TAKE Solutions Limited for the quarter and half year ended September 30, 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
$\overline{4}$	Navitas LLP
B	Step Down Subsidiaries
$\mathbf{1}$	NLS Holdings SG Pte Ltd, Singapore
	(Formerly known as TAKE Solutions Information Systems Pte Ltd, Singapore)
$\overline{2}$	TAKE Enterprise Services Inc., USA
3	TAKE Innovations Inc, USA
4	Navitas Life Sciences Holdings Limited, UK
5	Million Star Technologies Limited, Mauritius (merged with TAKE Innovations Inc,
	USA during previous quarter)
6	Intelent Inc, USA
7	Navitas Life Sciences Limited, UK
8	Navitas Life Sciences LLC, Russia
9	Navitas Inc., USA
10	Navitas Life Sciences S. A. S. Colombia
11	Navitas Life Sciences SG Pte. Limited
12	Navitas Life Sciences Services Limited, UK (Incorporated during the quarter)
13	Navitas Life Sciences Services Inc, USA (Incorporated during the quarter)
14	Acunova Life Science Inc., USA
15	Navitas Life sciences Company Limited, Thailand
16	Acunova Life Sciences Limited, UK

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 - 66807200, Emall - audit@gdaca.com $\widehat{\mathbf{x}}$ $\widetilde{\mathcal{A}}$

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

		ATAKE
	Regd. Office: 27, Tank Bund Road, Nungambakkam, Chennai 600 034	TAKE SOLUTIONS LTD CIN: L63090TN2000PLC046338 www.takesolutions.com
	Statement of Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2021
			Quarter Ended			(* In Lakhs except per share data) Half year ended	Year Ended
SI.		Sep 30,	Jun 30,	Sep 30,	Sep 30,	Sep 30,	Mar 31.
No,	Particulars	2021	2021	2020	2021	2020	2021
۸	CONTINUING OPERATIONS	(Unsudited)	(Unnudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
-1	Revenue from operations	19,742.33
$\mathbf 2$	Citier Income	230,03	20,915.38 251 32	17,073.66 43.06	40,657.71 481.35	33,662.82 377.34	77,403.45
3 4	Total Revenue Expenses	19,972.36	21,166.70	17,116.72	41,139.06	34,040,16	1,199.66 78,601.11
	Cost of revenue	5,173.64
	Employee benefit expenses	9,482.40	6,061.11 9,340 23	3,306.67 13,600,88	11,234.75 18,822.63	8,538.79	18,807.73
	Finance cost Depreciation and amortisation	764.99	1,071.61	943.56	1,836.60	26,472.36 1,963.28	47,375 35 3,731 03
	Other expenses	2,577.53	2.496.89	2,865.23	5,074.42	5,897.84	11,538 03
	Fotal Expenses	2,695.29 20,693,85	2,448,06	7,860.19	5,143.35	10,941.40	18,521.78
5	Profit/(Loss) before exceptional items and tax (3-4)	(721.49)	21,417.90 (251.20)	28,576,53 (11,459.81)	42,111.75 (972.69)	53,813,67	99,973.92
6 7	Exceptional items Profit/(Loss) before tax (5+6)					(19, 773, 51) (15,662,33)	(21, 372.81) (22, 506.78)
B	Tax expense	(721.49)	(251.20)	(11,459.01)	(972.69)	(35, 435, 84)	(43,879,59)
	Current tax	238,75	364.15	113.34
	Shortfall / (excess) provision of earlier years Deferred tax		(110.40)		602.90 (110.40)	381 52	1,353.98
9	Profit/(Loss) for the period from continuing operations (7-8)	(7675)	(183.52)	190.90	(260.27)	39 57	(118.44) 119.50
B	DISCONTINUED OPEARATIONS	(883, 49)	(321.43)	(11, 764.05)	(1, 204.92)	(35, 856, 93)	(45, 234, 63)
10	Profit/(Loss) from discontinued operations before tax	٠
$\overline{11}$	Less: Tax expense on discontinued operations	×		298,20 89 96		298.20	317.46
12	Profit/(Loss) for the period from discontinued operations (10-11)			208,24		89,96 208.24	89.96 227.50
13	Tatal Profit/(Loss) for the period (9+12)	(883, 49)	(321.43)	(11, 555.81)	(1, 204.92)	(35, 648.69)
14	Profit/(Loss) for the period from continuing operations (9)						(45,007,13)
	Attributable to:
	Shareholders of the company	(888.91)	(319.44)	(11,764.04)	(1, 208.35)	(35,968,97)	(45,342,56)
	Non-controlling interest	542	(1.99)	(0.01)	3.43	112.04	107.93
		(883.49)	(321.43)	(11,764.05)	(1, 204.92)	(35, 856, 93)	(45, 234, 63)
15	Profit/(1.088) for the period from discontinued operations (12) Attributable to:
	Shareholders of the company
	Non-controlling interest	٠ s,	٠	12078 87.46		120.78	140.04
16		٠	٠	208.24	۰	87.46 208,24	87.46 227.50
	Other Comprehensive Income from continuing operations (a) () Items that will not be reclassified to profit or (loss)	43.18	(37.33)
	ii) Income tax provision / (reversal) relating to the items that will not be			(6.58)	5.85	(16.34)	125.27
	reclassified to profit or (loss) (b) i) Items that will be reclassified to profit or (loss)	13,70	(11.14)	(3.27)	2.56	(5.98)	38.45
	(i) Income tax provision / (reversal) relating to the items that will be	1,779,44	(1,456,37)	(500.91)	323.07	432.40	403.02
	reclassified to profit or (loss)	6.43	(2.42)	(4.38)	4.01	(8.20)
	Total Other Comprehensive Income from continuing operations	1,802.49	(1,480,14)	(499.84)	322,35	430.24	(4.00) 493.84
17	Other Comprehensive Income from discontinued operations
	Items that will not be reclassified to profit or (loss)	V.	٠	×,		$\bullet$
	Income tax provision / (reversal) relating to the items that will not be						(5.97)
	reclassified to profit or (loss)		٠	٠	۰.	$\ddot{}$	(212)
	Total Other Comprehensive Income from discontinued operations	٠					(3.85)
18	Total Other Comprehensive Income	1,802.49	(1,480.14)	(499.84)	322.35	430.24	489.99
פו	Other Comprehensive Income from continuing operations (16)
	Attributable to:
	Shareholders of the company	1,813 20	(1,481.09)	(502.11)	332.11	435-23	497 66
	Non-controlling interest	(10.71) 1,802.49	0.95 (1,480.14)	2.27 (499.84)	(9.76)	(4.99)	(3.82)
20	Tatal Other Comprehensive Income from discontinued operations (17)				322,35	430.24	493,84
	Attributable to: Shareholders of the company
	Non-controlling interest		٠		٠		(2.23)
							(162) (3.85)
21	Total Comprehensive Income for the period (13+18)	919.00	(1, 801.57)	(12, 055, 65)	(882.57)
						(35, 218, 45)	(44, 517, 14)

	Continued
SI.			Quarter Ended			Half year ended
No.	Particulars	Sep 30, 2021	Jun 30, 2021	Sep 30, 2020	Sep 30, 2021	Sep 30, 2020	Year Ended Mar 31. 2021
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
22	Total Comprehensive Income from Continuing operations (14+19) Attributable to: Shareholders of the company Non-controlling interest	924.29 (5.29) 919,00	(1,800.53) (1.04) (1,801.57)	(12, 266.15) 2.26 (12,263.89)	(876.24) (6.33) (882.57)	(35, 533, 74) 107.05 (35, 426.69)	(44, 844, 90) 104 11 (44, 740, 79)
23	Total Comprehensive Income from Discontinued operations (15+20) Attributable to: Shareholders of the company Non-controlling interest	٧ $\overline{\phantom{a}}$ $\bullet$	÷, ×	120 78 87.46 208.24	$\bullet$ . ¥. ä.	120.78 87.46 208.24	137.81 85.84 223.65
24 25	Psid-up equity share capital (Face value T I/- each) Earnings per share (of ₹ 1/- each not annualised) (a) Basic	1,462,25	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	(0.61) (0.61) (0.61) (0.61)	(0.22) (0.22) (0, 22) (0.22)	(8.05) 009 (7.96) (8.05) 0.09 (7.96)	(0.83) (0.83) (0.83) (0.83)	(24.60) 0.09 (24.51) (24.60) 0.09 (24.51)	(31.01) 010 (30.91) (3101) 0.10 (30.91)

Segment Wise Revenue and Results
Primary Segment Information

						( In Lakhs )
Particulars		Quarter Ended			Half year ended	Year Ended
	Sep 30, 2021	Jun 30, 2021	Sep 30, 2020	Sep 30, 2021	Sep 30. 2020	Mar 31, 2021
Continuing Operations ٨.	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1. Segment Revenue (i) Life Sciences (ii) Supply Chain Management	19,742.33	20,915.38	17,073.66	40,657.71	30,377.91 3,284.91	74,116.54 3,284.91
Revenue from Operations	19,742.33	20,915.38	17,073.66	40,657.71	33,662.82	77,401.45
2. Segment Results (i) Life Sciences (ii) Supply Chain Mangement	464.46	1,190.10	(9,742.05)	1,654.56	(16, 823.05) 381.57	(38, 233, 83) 381.57
Total	464.46	1,190.10	(9,742.05)	1,654.56	(16, 441.48)	(37, 852, 26)
Less: (i) Finance cost (ii) Other Un-allocable Expenditure net off Un-allocable Income	764.99 420.96	1,071.61 369.69	943 56 774.20	1,836.60 790.65	1,963.28 17,031.08	3,731.03
Profit Before Tax - Continuing Operations	(721.49)	(251.20)	(11,459,81)	(972.69)	(35, 435.84)	2,296.30 (43,879.59)
В. Discontinued Operations - Supply Chain Management
Segment Revenue	ă)	ÿ.	4,757,62	۳	4,757.62	4,757.62
Segment Results
Less: (i) Finance cost	٠ à.	×	298.20	٠	298,20	317.46
(ii) Other Un-allocable Expenditure net off Un-allocable Income				٠
Profit Before Tax - Discontinued Operations			298.20		298.20
Segregation of assets, liabilities, depreciation and other non-cash expenses into various primary segments has not here carried out as the geographs unsed intention						317.46

ry segments not b

Experience of useds, included to also the non-case expenses into various primary segments has not been carried out as the assets are used interchangeably
between segments. Accordingly, no disclosure relating to segmental a

Note :
1. Consolidated Statement of Assets and Liabilities

			(CIn Lakhs)
	Particulars	As at	Asat
		Sep 30, 2021	Mar 31, 2021
	ASSETS	(Unaudited)	(Audited)
	Non-current assets
(a)	Property, plant and equipment	16,795.47	19,438.65
(b)	Capital work in progress	60.75	20.88
(c)	Right-of-use asset	3,461.65	3,281.76
(d) (e)	Goodwill Other intangible assets	23,645.79	23,711.15
	(i) Goodwill on business acquisition
	(ii) Other intangible assets	26,716.09	26,399,44
	(f) Intangible assets under development	21,736.22	20,544.20
	(g) Financial Assets	۰
	(I) Investments	752.83	743.58
	(ii) Loans	677.19	662,34
	(iii) Other financial asset
	(h) Deferred tax assets (net)	1,915.22	1,848.97
$\left($ i	(i) Income tax assets (net)	1,375.80	1,356.45
	Other non-current assets Total Non-Current Assets	360.74	357.54
		97,497.75	98,364.96
	Current assets
(a)	Inventories
(b)	Financial assets	67.65	60,54
	(i) Investments
	(ii) Trade receivables	42,284.51	43,385.94
	(iii) Unbilled receivables	5,624.85	5,566.86
	(iv) Cash and cash equivalents	3,233.00	3,897.44
	(v) Bank balances other than (iii) above (vi) Loans	52.11	31.82
	(vi) Other financial assets
(c)	Other current assets	16,469.45	13,292.08
	Total Current Assets	20,516.27 88,247.84	19,859.26 86,093.94
	Total Assets	185,745.59	184,458.90
	EQUITY AND LIABILITIES
	Equity
	(a) Equity share capital
(b)	Other equity	1,462.25 110,236.14	1,462.25 111,006.94
(c)	Non-controlling Interests	(48.40)	(39.09)
	Total Equity	111,649.99	112,430.10
	Non-current liabilities
(a)	Financial liabilities
	(i) Borrowings	11,594.73	13,445.55
	(ii) Lease liabilities	2,040.39	2,683.97
	(b) Provisions	866,92	807.63
	(c) Deferred tax liabilities (net) (e) Other non-current liabilities	2,479.30	2,661.74
	Total Non-Current Liabilities	16,981.34	19,598.89
	Current liabilities
(a)	Financial Habilities
	(i) Borrowings	32,539.03	31,567.21
	(ii) Trade Payables	3,519.94	4,155.08
	(iii) Other financial liabilities (iv) Lease liabilities	9,680.36	8,787.86
(b)	Other current liabilities	1,765.31	864.79
(c)	Provisions	8,066.92	5,394.53
(d)	Income tax Ilabilities (net)	50.19 1,492.51	65.84 1,594.60
	Total Current Liabilities	57,114.26	52,429.91
	Total Equity and Liabilities	185,745.59	184,458.90

2. Consolidated Statement of Cash flows

		(CIn Lakhs)
	Six months	Six months
Particulars	ended	ended
	Sep 30, 2021	Sep 30, 2020
NET PROFIT/(LOSS) BEFORE TAX	(Unaudited)	(Unaudited)
Adjustments for	(972.69)	(35, 137.64)
Depreciation and Amortisation
Finance Cost	5,074.42	5,926.01
Interest income	1,836.60	1,963.71
(Profit)/Loss on sale of investments	(31.72)	(35.25)
Employee stock option expense		(12.98)
Lease Concession Income	18.67	98.02
Foreign exchange adjustment - Loss		(50.04)
Profit on revaluation of financial instrument	(317.50)	325.70
Impairment loss on liquidation of Subsidiary		(12.65)
Provision for Expected credit loss		15,662.33
Operating Profit before Working Capital Changes	99.74	2,407.60
(Increase)/Decrease in loans and adv, trade receivables and other assets	5,707.52	(8, 865.19)
Increase/ (Decrease) in trade payables, liabilities and provisions	(2,621.86)	23,826.15
Cash flow from/ (used in) Operations	2,632.94	(6,213.91)
Direct taxes paid, net of refunds	5,718.60	8,747.05
NET CASH FROM /(USED) IN OPERATING ACTIVITIES	(613.84)	(997.60)
	5,104.76	7,749.45
B) CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment and Intangible Assets & Sale of Property
Plant and Equipment	(2,757.43)	(397.58)
(Purchase) /Sale of Investments
Payment of Purchase Consideration on Business combination		(12.33)
Interest income		(4,276.03)
Reduction/ (Increase) of bank deposits	31.72	35.25
NET CASH FROM /(USED) IN INVESTING ACTIVITIES		2.02
	(2, 725.71)	(4,648,67)
C) CASH FLOW FROM FINANCING ACTIVITIES
Net movement in Long/short-term borrowings
Payment of Lease Liability	(637.92)	809.93
Finance Cost	(779.10)	(584.02)
NET CASH FROM /(USED) IN FINANCING ACTIVITIES	(1,629.85)	(1,752.51)
	(3,046.87)	(1, 526.60)
Net Increase/(Decrease) in Cash & Cash equivalents
Add: Cash and cash equivalents as at the beginning of the period	(667.82)	1,574.18
Exchange difference on translation of foreign currency cash and cash equivalents	3,897.42 3.40	4,513.25
Cash & Cash equivalents as at the end of the period	3,233.00	(51.96)
		6,035.47
Components of Cash and Cash equivalents	Sep 30,2021	Sep 30,2020
	(Unaudited)	(Unaudited)
Balance with banks
On current accounts	2,554.73	3,785,89
Deposit having original maturity less than 3 months Cash on hand		18.76
Margin money against bank guarantee	12.95	18.19
	665.32	221263

Notes

Total

The above cash- flow statement has been prepared under the indirect method sot out in Indian Accounting
Standard (IND AS) -7, 'Statement of Cash Plow' as specified in the Companies (Indian Accounting Standards) $\bf{D}$ Rules, 2015.

Direct Taxes paid is treated as arising from operating activities and are not bifurcated between Investment and $2)$ financing activities.

All figures in brackets indicate cash outflow

2,212.63

6,035.47

665.32

3,233.00

or consolidated Financial Results for the quarter and half year ended September 30, 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 November 12, 2021. The statutory auditors of the company have carried out Limited Review of the results for the quarter and hall year ended September 30, 2021.

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. Such review and analysis performed by the group did not reveal any impairment losses 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 monito 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

• The company in its Extraordinary General Meeting held on October 23, 2021, accorded its approval for sale of the controlling stake to the extent of 75% in the Group's $\overline{\mathbf{5}}$ clinical research organisation business conducted under the brand name 'Navitas.' The terms and conditions of the agreements in respect of the same are under negotiations with the prospective buyers which have not yet reached the stage of finality and as such is not a highly probable transaction as contemplated under Ind AS 105, "Non-Current
• As at March 31, 2021, the income from financial assets and financial assets exceeded 50% of gross income and total assets respectively due to which the holding company 6 satisfied the 'principal business criteria' for Non-Banking Financial Company (NBFC) as per RBI directives. The holding company, on the basis of its operational plans believes that this scenario would be temporary and the consolidated financial results for the quarter and half year ended September 30, 2021 have been prepared in the ٠,
• 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.
• The Consolidated and Standalone financial results for the quarter ended June 30, 2021 are available on the Company's website (www.takesolutions.com) and the website of $\mathbf{g}$ BSE (www.bscindia.com) and NSE (www.nseindia.com)
• $\overline{Q}$ The financial results of TAKE Solutions Limited (Standalone information)

$\overline{\phantom{a}}$

Place: Chennal

						(7 In Lakhs)
		Quarter Ended			Half year ended	Year Ended
Particulars	Sep 30, 2021	Jun 30. 2021	Sep 30, 2020	Sep 30. 2021	Sep 30. 2020	Mar 31. 2021
Total income	(Unaudited)	(Unaudited) (Unaudited) (Unaudited)			(Unaudited)	(Audited)
Net profit/(loss) before tax	420.00	692.41	464.15	1.112.41	899.41	1,221 72
Net profit/(loss) for the period	81.24	315.87	(297.78)	397.11	(228, 17)	651.74
Total comprehensive income	90.63	340 79	(292.47)	431.42	(193.24)	779.26
	93.04	341.93	(285.17)	434.97	(186.63)	701 CC

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

APTE For and on behalf of the Board of Directors $1010$ CHENA Srinivasan H.R. Date: November 12, 2021 Vice Chairman & Managing Director

Limited Review Report

The Board of Directors Take Solutions Limited

• 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Take Solutions Limited ("the Company") for the quarter and the half year ended September 30, 2021 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This 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 Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. 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 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 statements is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of company's personnel 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 Standards on Auditing specified under Section 143 (10) of the Companies Act, 2013 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.
• 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 recognition and measurement principles laid down in the aforesaid Ind AS 34 and other accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We draw attention to the following matter in the Notes to the standalone financial results:
• a. 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 statement. In this assessment, the company has performed sensitivity analysis on the key assumptions used. Such review and analysis performed by the company did not reveal any impairment losses.

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

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 - 6680 7200, Email - audit@gdaca.com

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 statement.

b. As at March 31, 2021, the income from financial assets and financial assets exceeded 50% of gross income and total assets respectively due to which the company satisfied the "principal business criteria" for Non-Banking Financial Company (NBFC) as per RBI directives. The company on the basis of its operational plans believes that this scenario would be temporary and the financial results for the quarter and half year ended September 30, 2021 have been prepared in the formats applicable to the companies other than NBFCs.

Our conclusion is not modified in respect of the above matters.

For G. D. Apte & Co. Chartered Accountants Firm Registration Number: 100515W UDIN: 21113053AAAADJ1560

Umesh S. Abhyankar Partner Membership Number: 113053 Pune, November 12, 2021

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Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 - 6680 7200, Emall - audit@gdaca.com

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

TAKE SOLUTIONS LTD
CIN: L63090TN2000PLC046338

Regd. Office: 27, Tank Bund Road, Nungambakkam, Chennai 600 034

www.takesolutions.com

		Statement of Unaudited Standalone Financial Results for the quarter and half year ended September 30, 2021					(₹ In Lakhs except per share data)
SI.			Quarter Ended		Half Year Ended	Year Ended
No.	Particulars	Sep 30, 2021	Jun 30, 2021	Sep 30, 2020	Sep 30, 2021	Sep 30, 2020	Mar 31. 2021
A	CONTINUING OPERATIONS	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
1	Revenue from operations
$\mathbf{2}$	Other Income		×	166.57	್	168,30	186.09
3	Total Income	420.00	692.41	297.58	1,112.41	731.11	1,035.63
4	Expenses	420.00	692.41	464.15	1,112.41	899.41	1,221.72
	Cost of revenue
	Employee benefit expenses			136.85		138.44	154,94
	Finance cost	116.20	98.63	104.94	214.83	227.87	412.35
	Depreclation and amortisation	7.42	7.86	9.10	15.28	18.59	35.57
	Other expenses	29.03	35.76	39,20	64.79	78.44	156.78
	Total Expenses	186.11	234.29	471.84	420.40	664.24	1,192.15
5	Profit/(Loss) before exceptional items and tax (3-4)	338.76	376.54	761.93	715.30	1,127.58	1,951.79
6	Exceptional Items	81.24	315.87	(297.78)	397.11	(228.17)	(730.07)
	Profit on sale of subsidiary
7	Profit/(Loss) before tax (5+6)	81.24	315.87				1,381.81
8	Tax expense			(297.78)	397.11	(228, 17)	651.74
	Current tax	(13.38)	14.15	(12.34)
	Shortfall / (excess) provision of earlier years				0.77
	Deferred tax	3.99	(39.07)	7.03	(35.08)		(99, 70)
	Profit/(Loss) for the period from continuing operations (7-8)					(34.93)	(27.82)
9		90.63	340.79	(292.47)	431.42	(193.24)	779.26
в	DISCONTINUED OPEARATIONS
10	Profit/(Loss) from discontinued operations before tax		٠
$\mathbf{1}$	Less: Tax expense on discontinued operations		$\overline{\phantom{a}}$		٠
	Profit/(Loss) for the period from discontinued operations
12	$(10-11)$ after tax	۳	٠	u,	٠
13	Profit/(Loss) for the period (9+12)	90.63	340.79	(292.47)	431.42	(193.24)	779.26
14	Other Comprehensive Income
	$ a\rangle$ i) Items that will not be reclassified to profit or (loss) ii) Income tax provision / (reversal) relating to the items that	3.22	1.52	9.75	4.74	8.83	5.73
	will not be reclassified to profit or (loss)	0.81	0.38	2.45	1.19
	b) i) items that will be reclassified to profit or (loss)	٠		٠	×	2.22 ¥,	1,44
	ii) Income tax provision/(reversal) relating to the items that
	will be reclassified to profit or (loss)
	Total Other Comprehensive Income	2.41	1.14	7,30	3.55	6.61	4.29
15	Total Comprehensive Income	93.04	341.93	(285.17)	434.97	(186.63)	783.55
16	Paid-up equity share capital (Face value ₹ 1/- each)	1,479.34	1,479.34	1,479.34	1,479.34	1,479.34	1,479.34
17	Earnings per share (of $\xi$ 1/- each) (not annualised)
	(a) Basic (in ₹) (b) Diluted (in ₹)	0.06	0.23	(0.20)	0.29	(0.13)	0.53

$\lambda$

Note:

and the local

1. Standalone Statement of Assets and Liabilities

	(7 In Lakhs)
	Particulars	As at Sep 30, 2021	As at Mar 31, 2021
		(Unaudited)	(Audited)
	ASSETS
	Non-current assets
(a)	Property, plant and equipment	141.85	162.18
(b)	Right-of-usc assets	238,74	280.87
(c)	Other intangible assets
(d) (e)	Investment In subsidiaries Financial Assets	51,866.64	51,678.44
	(i) Loans
	(ii) Other financial asset	591.93	591.92
(f)	Deferred tax assets (net)
(g)	Income tax assets (net)	272.74	238.85
(h)	Other non-current assets	922.84	1,062.37
	Total Non-Current Assets
		54,034.74	54,014.63
	Current assets
(a)	Inventories
(b)	Financial assets
	(i) Investments
	(ii) Trade receivables	213.33
	(iii) Cash and cash equivalents	77.27	237.02
	(iv) Bank balances other than (iii) above	26.61	1,125.43
	(v) Loans	14,271.75	24.73
	(vi) Other financial assets	7,426.43	13,855.64
$\circ$	Other current assets	3,086.77	7,293.63 2,075.54
	Total Current Assets	25,102.16	24,611.99
	Total Assets	79,136.90	78,626.62
	EQUITY AND LIABILITIES
	Equity
(a)	Equity share capital
(b)	Other equity	1,479.34	1,479.34
	Total Equity	76,496.59	76,028.07
		77,975.93	77,507.41
	Non-current liabilities
(a)	Financial liabilities
	(i) Other financial liabilities	116.35	149.86
	(ii) Lease liabilities	192.05	238.62
(b)	Provisions	87.38	81.37
	Total Non-Current Liabilities	395.78	469.85
	Current liabilities
(a)	Financial liabilities
	(i) Trade Payables	153,08
	(ii) Other financial liabilities	451.35	188.00
	(iii) Lease liabilities	90.88	363.22 81.57
(b)	Other current liabilities.	64.36	9.90
(c)	Provisions	5,52
	Total Current Liabilities	765.19	6.67 649.36
	Total Equity and Liabilities	79,136.90	78,626.62

2. Standalone Statement of Cash flows

		( <in lakhs)<="" th="">
Particulars	Six months ended Sep 30, 2021	Six months ended Sep 30, 2020
	(Unaudited)	(Unaudited)
A) CASH FLOW FROM OPERATING ACTIVITIES
NET PROFIT/(LOSS) BEFORE TAX	397.11	(228.17)
Adjustments for Depreciation
Finance Cost	64.79	78.44
	15.28	18.59
Interest income	(406.32)	(402.39)
Unwinding of liability for financial guarantee contracts	(120.16)	(121.06)
Provision for gratuity, compensated absences & other benefits	9.61	8.69
Employee stock option expense	2.23	12.76
Bad debts and provision for expected credit losses	85.12	56.60
Foreign exchange adjustments - loss/(gain)	(143.32)	191.75
Lease concessions received		(50.05)
Operating Profit before working Capital Changes	(95.66)	(434.84)
(Increase)/Decrease in loans and adv, trade receivables and other assets	(1, 207.48)	1,079.15
Increase/ (Decrease) in liabilities and provisions	37.57	218.00
Cash flow from/ (used in) Operations	(1,265,57)	862.31
Direct taxes (paid)/refund	138.79	(7.11)
NET CASH FROM/(USED IN) OPERATING ACTIVITIES	(1, 126.78)	855.20
B) CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Property, Plant and Equipment	(2, 40)
Loans (to)/repayment of loan from related parties	133.49	85.90
NET CASH FROM /(USED IN) INVESTING ACTIVITIES	131.09	85.90
C) CASH FLOW FROM FINANCING ACTIVITIES
Payment of lease liabilities	(52.54)
NET CASH FROM/(USED IN) FINANCING ACTIVITIES	(52.54)
Net Increase/(Decrease) in Cash & Cash equivalents	(1,048.23)	941.10
Add: Cash and Cash equivalents as at the beginning of the period	1.125.50	74.39
Cash & Cash equivalents as at the end of the period	77.27	1,015.49

Components of Cash and Cash equivalents	Sep 30,2021	Sep 30,2020
	(Unaudited)	(Unaudited)
Balance with banks
On current accounts	75.39	1,013.56
Cash on hand	1.88	1.93
Total	77.27	1,015.49

Notes

• The above cash- flow statement has been prepared under the indirect method set out in Indian 1) Accounting Standard (IND AS) -7, 'Statement of Cash Flow' as specified in the Companies (Indian Accounting Standards) Rules, 2015.
• Direct Taxes paid is treated as arising from operating activities and are not bifurcated between $2)$ investment and financing activities.
• All figures in brackets indicate cash outflow. $3)$

The Standalone Financial Results for the quarter and half year ended September 30, 2021 have been reviewed and recommended by the Audit Committed and approved by the Board of Directors of the company in their respective meetings held on November 12, 2021. The statutory auditors of the company have carried out Limited Review of the results for the quarter and half year ended September 30, 2021.

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. Such review and analysis performed by the company did not

• 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. $\overline{\mathbf{5}}$
• The company in its Extraordinary General Meeting held on October 23, 2021, accorded its approval for sale of the controlling stake to the extent of 75% in the Group's clinical research organisation business conducted under the brand name 'Navitas.' The terms and conditions of the agreements in respect of the same are under negotiations with the prospective buyers which have not yet reached the stage of finality and as such is not a highly probable transaction as contemplated under Ind AS 105, 'Non-Current Assets held for Sale and Discontinuing Operations.'
• As at March 31, 2021, the income from financial assets and financial assets exceeded 50% of gross income and total assets respectively due to which the company satisfied the 'principal business criteria' for Non-Banking Financial Company (NBFC) as per RBI directives. The company, on the basis of its operational plans believes that this scenario would be temporary and the financial results for the quarter and half year ended September 30, 2021 have been 7
• prepared in the formats applicable to the companies other than NBFCs.
  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.
• 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 business $\mathbf{a}$ 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,
• During the quarter ended Scptember 30, 2021, employees have not exercised any equity share options under Employee Stock Option Scheme of the ç

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

For and on behalf of the Board of Directors PTE dicaivaia Place: Chennal Srinivasan H.R. Date: November 12, 2021 Vice Chairman & Managing Director