Take Solutions Ltd — Interim / Quarterly Report 2021

Feb 11, 2021

TECHNOLOGY ANALYTICS KNOWLEDGE ENTERPRISE

February 11, 2021

TAKE/BSE/2020-21 The Manager Dept. of Corporate Services-Listing Bombay Stock Exchange Limited. P. J. Towers, Dalal Street. Mumbai - 400001 Scrip Code: 532890

TAKE/NSE/2020-21 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, February 11, 2021

We wish to inform you that the Board of Directors of the Company, in its meeting held on Thursday, February 11, 2021, approved the unaudited financial results of the Company (Standalone) and together with its subsidiaries (Consolidated) for the third quarter ended December 31, 2020, 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 P.M. and concluded at $8.40P.M.$

Please take note of the same.

Thanking you,

Yours sincerely, For TAKE Solutions Limited

P-Sumusan

Srinivasan P Company Secretary Encl: A/a:

TAKE SOLUTIONS LIMITED

Registered & Corporate Office : No: 27, Tank Bund Road, Nungambakkam, Chennai - 600 034 CIN: L63090TN2000PLC046338; GSTIN: 33AABCT3684M1Z0 Tel: +91 44 6611 0700/01

www.takesolutions.com

Limited Review Report

The Board of Directors TAKE Solutions Limited

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited 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 nine months ended December 31. 2020 ("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 there under 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. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing 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.
• 1. Based on our review conducted 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:

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 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

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

impairment losses except the loss of Rs. 15,662.33 lakhs to the extent of net assets of step down subsidiary viz. Navitas Life Sciences Gmbh, Germany (along with its further step down subsidiaries in Europe) which has been accounted for as impairment loss consequent to initiation of liquidation proceedings by these subsidiaries in the quarter ended June 30, 2020. 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 conclusion is not modified in respect of the above matter.

For G. D. Apte & Co. Chartered Accountants Firm Registration Number: 100515W UDIN: 21113053AAAAAO2233

Umesh S. Abhyankar Partner Membership Number: 113 053 Chennai, February 11, 2020

Pune Office: GDA House, Plot No.85, Right Bhusari Colony, Paud Road, Kothrud, Pune - 411 038, Phone - 020 - 6680 7200, Email - 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 Nine months ended December 31, 2020

Sr. No.	Particulars
Α	Subsidiaries
$\mathbf{1}$	APA Engineering Private Limited (Investment disposed off w.e.f October 29, 2020)
2	Ecron Acunova Limited
3	TAKE Solutions Global Holding Pte Ltd.
4	TAKE Solutions Limited ESOP Trust
5	Navitas LLP
в	Step Down Subsidiaries
1	APA Engineering Pte Ltd, Singapore (Investment in Parent company disposed off w.e.f October 29, 2020)
$\overline{2}$	APA Engineering Inc., USA (Investment in Parent company disposed off w.e.f October 29, 2020)
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	Acunova Life Science Inc., USA
13	Navitas Lifesciences Company Limited, Thailand
14	Acunova Life Sciences Limited, UK
15	Navitas Life Sciences, GmbH, Germany
16	Ecron Acunova Sdn. Bhd., Malaysia
17	Ecron Acunova Sp. Z. O. O., Poland
18	Ecron LLC, Ukraine
19	Ecron Acunova LLC, Russia
20	Navitas Life Sciences A/S, Denmark
21	Navitas Life Sciences Pte Ltd. Singapore

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

$\bar{\Omega}$

TAKE SOLUTIONS LTD CIN: L63090TN2000PLC046338

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

www.takesolutions.com

	Statement of Unaudited Consolidated Financial Results for the quarter and nine months ended December 31, 2020
	$(\bar{\tau})$ In Lakhs except per share data) Nine Months Ended
SI.		Quarter Ended Dec 31, Dec 31,				Year Ended
No.	Particulars	2020	Sep 30, 2020	2019	Dec 31, 2020	Dec 31, 2019	Mar 31. 2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
A	CONTINUING OPERATIONS
$\mathbf{1}$	Revenue from operations	21,639.15	17,073.66	65,110.93	55,301.97	184,223.36	221,289.95
$\overline{c}$	Other Income	956.52	43.06	343.87	1,333.86	1,076.16	2,638.89
3	Total Revenue	22,595.67	17,116.72	65,454.80	56,635.83	185,299.52	223,928.84
$\overline{\mathbf{4}}$	Expenses
	Cost of revenue	5,374.00	3,306.67	17,749.17	13,912.79	51,405.85	66,161.99
	Employee benefit expenses	11,908.98	13,600.88	19,835.45	38,381.34	53,541.52	71,858.06
	Finance cost Depreciation and amortisation	939.81 2,831.89	943.56 2,865.23	1,076.27	2,903.09	3,100.77	4,127.43
	Other expenses	3,819,17	7,860.19	4,107.30 16,693.39	8,729.73 14,760.57	12,658.23 46,888.43	16,692.80 66,380.29
	Total Expenses	24,873.85	28,576.53	59,461.58	78,687.52	167,594.80	225,220.57
5	Profit/(Loss) before exceptional items and tax (3-4)	(2, 278.18)	(11, 459.81)	5,993.22	(22,051.69)	17,704.72	(1, 291, 73)
6	Exceptional items				(15,662,33)
7	Profit/(Loss) before tax (5-6)	(2, 278.18)	(11, 459.81)	5,993.22	(37,714.02)	17,704.72	(1, 291.73)
8	Tax expense
	Current tax	85.65	113.34	1,048.53	467.17	3,364.74	4,148.00
	Shortfall / (excess) provision of earlier years			(150.71)	$\rightarrow$	(171.99)	(172.14)
9	Deferred tax	201.13	190.90	(19.05)	240.70	(309.00)	(4, 173, 40)
	Profit/(Loss) for the period from continuing operations (7-8)	(2,564.96)	(11,764.05)	5,114.45	(38, 421.89)	14,820.97	(1,094.19)
$\bf{B}$	DISCONTINUED OPEARATIONS
$\mathfrak{g}$ $\mathbf{1}$	Profit/(Loss) from discontinued operations before tax	19.26	298,20		317.46
2	Less: Tax expense on discontinued operations Profit/(Loss) for the period from discontinued operations (10-11)	19.26	89 96 208.24	$\tilde{\phantom{a}}$ 嵩	89 96 227.50	$\widetilde{\mathbf{r}}$
13		(2,545.70)	(11, 555.81)	5,114.45	(38, 194.39)	14,820.97	(1,094.19)
	Total Profit/(Loss) for the period (9+12)
14	Other Comprehensive Income
	a) i) Items that will not be reclassified to profit or (loss)	78,20	(6.58)	(26.56)	61.86	(128.19)	(139.15)
	ii) Income tax provision / (reversal) relating to the items that will not be reclassified to profit or (loss)	26.16	(3.27)	(8.47)	20.18	(42.25)	(27.51)
	b) i) Items that will be reclassified to profit or (loss)	(442.46)	(500.91)	3,274.14	(10, 06)	4,127.12	7,283.92
	ii) Income tax provision / (reversal) relating to the items that will be
	reclassified to profit or (loss)	(7.43)	(4.38)	(10.89)	(15, 63)	(10.75)	(15.29)
	Other Comprehensive Income	(382,99)	(499.84)	3,266.94	47.25	4,051.93	7,187.57
15	Total Comprehensive Income for the period	(2,928.69)	(12, 055.65)	8,381.39	(38, 147, 14)	18,872.90	6,093.38
16	Profit/(Loss) for the period from continuing operations (9)
	Attributable to:
	Shareholders of the company	(2,564.70)	(11, 764.04)	5,043.84	(38, 533.67)	14,557.01	(1, 236.03)
	Non-controlling interest	(0.26)	(0.01)	70.61	111.78	263.96	141.84
		(2, 564.96)	(11, 764.05)	5,114.45	(38, 421.89)	14,820.97	(1,094.19)
7	Profit/(Loss) for the period from discontinued operations (12)
	Attributable to:
	Shareholder's of the company	19.26	120.78		140.04
	Non-controlling interest		87.46		87.46	×.
		19.26	208.24		227.50

	Continued
			Quarter Ended			Nine Months Ended	Year Ended
SI. No.	Particulars	Dec 31, 2020	Sep 30, 2020	Dec 31, 2019	Dec 31, 2020	Dec 31, 2019	Mar 31, 2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
18	Other Comprehensive Income Attributable to: Shareholders of the company Non-controlling interest	(379.14) (3.85) (382.99)	(502.11) 2.27 (499.84)	3,267.01 (0.07) 3,266,94	56.09 (8.84) 47.25	4,051.93 4,051.93	7,199.88 (12.31) 7,187.57
19	Total Comprehensive Income Attributable to: Shareholders of the company Non-controlling interest 44	(2,924.58) (4.11) (2,928.69)	(12, 145, 37) 89.72 (12,055.65)	8,310.85 70.54 8,381.39	(38, 337, 54) 190.40 (38,147.14)	18,608.94 263.96 18,872.90	5,963.85 129.53 6,093,38
20 21	Paid-up equity share capital (Face value ₹1/-each) Earnings per share (of ₹ 1/- each not annualised) (a) Basic (i) Continuing operations	1,462.25 (1.75)	1,462.25 (8,05)	1,462.20 3.45	1,462.25	1,462.20	1,462.25
	(ii) Discontinued operations Total Operations (b) Diluted	0.01 (1.74)	0.09 (7.96)	3.45	(26.35) 0.10 (26.25)	9.96 9,96	(0, 85) (0.85)
	(i) Continuing operations (ii) Discontinued operations Total Operations	(1.75) $0 - 01$ (1.74)	(8.05) 0.09 (7.96)	3.45 3.45	(26.35) 0.10 (26.25)	9.95 ÷ 9.95	(0.84) (0.84)

Segment Wise Revenue and Results
Primary Segment Information

						$($ ₹ In Lakhs)
		Quarter Ended			Nine Months Ended	Year Ended
Particulars	Dec 31,	Sep 30,	Dec 31,	Dec 31,	Dec 31,	Mar 31,
	2020	2020	2019	2020	2019	2020
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
A. Continuing Operations
I. Segment Revenue
(i) Life Sciences	21,639.15	17,073.66	61.531.12	52,017.06	173.596.73	207,920.85
(ii) Supply Chain Management			3,579.81	3,284.91	10.626.63	13,369.10
Revenue from Operations	21,639.15	17,073.66	65,110.93	55,301.97	184.223.36	221.289.95
2. Segment Results
(i) Life Sciences	(744.30)	(9,742.05)	7,636.73	(17, 567, 35)	22,257.72	5,011.07
(ii) Supply Chain Mangement			347.51	381.57	1,051.86	660.57
Total	(744.30)	(9,742.05)	7,984.24	(17, 185.78)	23,309.58	5,671.64
Less: (i) Finance cost	939.81	943.56	1.076.27	2,903.09	3,100.77	4,127.43
(ii) Other Un-allocable Expenditure net off Un-allocable Income	594.07	774.20	914.75	17,625.15	2,504.09	2,835.94
Profit Before Tax - Continuing Operations	(2, 278.18)	(11, 459.81)	5,993.22	(37, 714.02)	17,704,72	(1, 291, 73)
B. Discontinued Operations - Supply Chain Management
Segment Revenue		4,757.62		4,757.62	$\bullet$
Segment Results	19.26	298.20		317.46
Less: (i) Finance cost		٠		÷.	$\blacksquare$
(ii) Other Un-allocable Expenditure net off Un-allocable Income					$\overline{\phantom{a}}$
Profit Before Tax - Discontinued Operations	19.26	298,20		317.46	۰	$\sim$
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 ?

• The Consolidated Financial Results for the quarter and nine months ended December 31, 2020 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the company in their respective meeting held on February 11, 2021. The Statutory Auditors of the company have carried out Limited Review of the results for the quarter and nine months ended December 31, 2020.
• $\overline{2}$ 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 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. 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 ₹ 15,662,33 lakhs to the extent of net assets has been accounted for in Consolidated Financial Results during the quarter ended June 30, 2020.

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.

• $\overline{3}$ 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 and nine months ended December 31, 2020 are available on the Company's website $\overline{A}$ (www.takesolutions.com) and the website of BSE (www.bseindia.com) and NSE (www.nseindia.com)
• During the previous quarter ended September 30, 2020, the group had entered into an agreement to divest its entire equity stake in one of the subsidiary viz. APA Engineering $\ddot{\phantom{1}}$ Pvt Ltd and the net profit of ₹ 208.24 lakhs (after adjusting tax expense of ₹ 89.96 lakhs) pertaining to the subsidiary upto September 30, 2020 has been disclosed under 'Discontinued operations.' The shares have since been transferred during current quarter 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) $\ddot{6}$

(2) 2

		Ouarter Ended			Nine Months Ended
Particulars	Dec 31. 2020	Sep 30, 2020	Dec 31, 2019	Dec 31. 2020	Dec 31. 2019	Mar 31. 2020
	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Total income	253.06	464.15	1,205.70	1,152.47	3,046.23	2,854.30
Net profit/(loss) before tax	1.103.17	(297.78)	589.56	875.00	1,283.35	693.81
Net profit/(loss) for the period	1,096.60	(292.47)	659.33	903.36	1,426.24	773.53
Total comprehensive income	1,099.73	(285.17)	658.32	913.10	1,423.82	772.56
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
					Digitally signed by H R
			HR Srinivasan Srinivasan Date: 2021.02.11 18:06:33	$+05'30'$
Place: Chennai				Srinivasan H.R.

$28 - 32 + 16$

Limited Review Report

The Board of Directors TAKE Solutions Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results (the statement) of TAKE Solutions Limited for the quarter and nine months ended December 31, 2020. This statement which is the responsibility of the Company's Management has been approved by the Board of Directors. The statement has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting' 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 statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies 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:

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 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 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 quarter ended June 30, 2020. 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

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

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 conclusion is not modified in respect of the above matter.

For G. D. Apte & Co. Chartered Accountants Firm Registration Number: 100515W UDIN: 21113053AAAAAN6738

$100$

Umesh S. Abhyankar Partner Membership Number: 113 053 Chennai, February 11, 2021

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

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 nine months ended December 31, 2020
						$($ Th Lakhs except per share data)
		Quarter Ended				Nine Months Ended	Year Ended
SI.		Dec 31,	Sep 30,	Dec 31,	Dec 31,	Dec 31,	Mar 31.
No.	Particulars	2020	2020	2019	2020	2019	2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
Α	CONTINUING OPERATIONS
	Revenue from operations	17.79	166.57	43.79	186.09	183.53	246.55
$\mathbf{2}$	Other Income	235.27	297.58	1,161.91	966.38	2,862.70	2,607.75
$\mathbf{3}$	Total Income	253,06	464.15	1,205.70	1,152.47	3,046.23	2,854.30
4	Expenses
	Cost of revenue	16.50	136.85	43.72	154.94	118.14	178.44
	Employee benefit expenses	80.61	104.94	131.34	308.48	483.71	632.24
	Finance cost	8.70	9.10	10.33	27.29	32.65	42.51
	Depreciation and amortisation	39.28	39.20	44.35	117.72	134.89	174.17
	Other expenses Total Expenses	386.61	471.84	386.40	1,050.85	993.49	1,133,13
5	Profit/(Loss) before exceptional items and tax (3-4)	531.70	761.93	616.14	1,659.28	1,762.88	2,160.49
6	Exceptional items	(278.64)	(297.78)	589.56	(506.81)	1,283.35	693.81
	Profit on sale of subsidiary	1,381.81			1,381.81
7	Profit/(Loss) before tax (5-6)	1,103.17	(297.78)	589.56	875.00	1,283.35	693.81
8	Tax expense
	Current tax	$\overline{\phantom{a}}$	(12.34)	(3.67)		26.11	61.16
	Shortfall / (excess) provision of earlier years			(86.63)	٠	(86.63)	(86.63)
	Deferred tax	6.57	7.03	20.53	(28.36)	(82.37)	(54.25)
9	Profit/(Loss) for the period from continuing operations (7-9)	1,096.60	(292.47)	659.33	903.36	1,426.24	773.53
B	DISCONTINUED OPEARATIONS
10	Profit/(Loss) from discontinued operations before tax
11	Less: Tax expense on discontinued operations
12	Profit/(Loss) for the period from discontinued operations (8-9) after tax
13	Profit/(Loss) for the period (9+12)	1,096.60	(292.47)	659.33	903.36	1,426.24	773.53
14	Other Comprehensive Income
	a) i) Items that will not be reclassified to profit or (loss)	4.19	9.75	(1, 35)	13.02	(3.33)	(1.30)
	ii) Income tax provision / (reversal) relating to the items that will not
	be reclassified to profit or (loss)	1.06	2.45	(0.34)	3.28	(0.91)	(0, 33)
	b) i) Items that will be reclassified to profit or (loss)		ä,
	ii) Income tax provision/(reversal) relating to the items that will be
	reclassified to profit or (loss)
	Total Other Comprehensive Income	3.13	7.30	(1.01)	9.74	(2.42)	(0.97)
15	Total Comprehensive Income	1,099.73	(285.17)	658.32	913.10	1,423.82	772.56
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 ₹ 1/- each) (not annualised)
	(a) Basic (in ₹)	0.74	(0, 20)	0.45	0.61	0.97	0.52
	(b) Diluted (in ₹)	0.74	(0.20)	0.45	0.61	0.97	0,50

Note:

• The Standalone Financial Results for the quarter and nine months ended December 31, 2020 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 February 11, 2021. The Statutory Auditors of the company have carried out Limited Review of the results for the quarter and nine months ended December 31, 2020.
• 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 $\overline{z}$ of trade receivables, contract assets and certain investments in subsidiaries up to the date of approval of these 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 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 ₹15,662.33 lakhs to the extent of net assets has been accounted for i Consolidated Financial Statements in the quarter ended June 30, 2020. 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.

• $\overline{3}$ During the previous quarter ended September 30, 2020, the company had entered into an agreement to divest its entire equity stake in one of the subsidiary viz, APA Engineering Pvt Ltd for a consideration of $\bar{\tau}$ 1,740 lakhs. The shares have been transferred during current quarter, and the company has recorded profit of $\bar{\tau}$ 1,381.81 lakhs on the sale of investments in subsidiary which has been disclosed under 'Exceptional items',
• During the year 2019-20, the company erroneously recognized revenue aggregating to ₹ 1,856,84 lakhs in respect of shared services and share of profit 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 $\overline{5}$ 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 Ministry₁ 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 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 December 31, 2020, employees have not exercised any equity shares under Employee Stock Option Scheme of the Company. $\overline{7}$
• Previous period figures have been regrouped /reclassified, wherever necessary to conform to current period's classification. $\overline{8}$

	For and on behalf of the Board of Directors
	Digitally signed by HR
	$H$ R Srinivasan Date: 2021.02.11 18:08:04
	$+05'30'$
Place: Chennai	Srinivasan H.R.
Date: February 11, 2021	Vice Chairman & Managing Director