Tera Software Ltd. — Interim / Quarterly Report 2019

Nov 14, 2019

TERA SOFTWARE LIMITED

8-2-293/82/A/1107, Plot No. 1107, Road No. 55, Jubilee Hills, Hyderabad-.500 003 Telangana, INDIA

Date: 14.11.2019

To, BSE Limited P.JTowers Dalal Street, Mumbai - 400001 Scrip: 533982

National Stock Exchange oflndia Limited Exchange Plaza, Bandra Kurla complex Bandra(E), Mumbai - 400051 Symbol: TERASOFf

Dear Sir/Madam,

Sub: Outcome of Board Meeting for the 2nd Quarter

The Board of Directors at its meeting held today, i.e. Thursday, 14th November, 2019, considered and approved the Un-Audited Financial Results of the Company for the 2nd Quarter ended 30th September, 2019.

-In terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of the said Results along with the Limited Review Report issued by Mis. Mullapudi & Co., Chartered Accountants, is enclosed herewith.

The Board Meeting commenced at 3:37 P.M. and concluded at 6:05 P.M.

Kindly take the above information on your record.

CIN: L72200TG1994PLC018391

MULLAPUDI & Co., CHARTERED ACCOUNTANTS

Flat No 1 A, Rama Apartments, Plot No 84, Srinagar Colony, Hyderabad - 500073

Tel: 040-2373 5095, 94920 63246 E-mail: ca.mullapudi@gmail.com

LIMITED REVIEW REPORT

Review Report to the Board of Directors of TERA SOFTWARE LIMITED

We have reviewed the accompanying statement of unaudited financial results of M/S TERA SOFTWARE LIMITED, for the quarter and six months ended 301h September 2019, being submitted by the Company pursuant to the requirements of regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. This statement is the Responsibility of the Company's Management and had been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

We conducted our review in accordance with the Standard on Review Engagement (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 assurances to whether the financial statements are free from material misstatement. A review is limited primarily to inquire of the company personnel and analytical procedures applied to financial data and thus provide less assurance than the audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Based on our view conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with the applicable Indian Accounting Standards specified under Section 133 of the Companies Act,2013 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.

For Mullapudi & Co., Chartered Accountants

Partner

Membership No: 226476

UDIN No: 19226476AAAACC9978

Date: 14.11.2019 Place: Hyderabad

TERA SOFTWARE LIMITED CIN L72200TG1994PLC018391

8-2-293/82/ A/1107, Plot no 1107, Road no 55, Jubilee Hills, Hyderabad-33.

STATEMENT OF FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2019

				Rupees in Lakhs
			Corresponding 3	Year to date	Year to date
	Quarter ended	Preceding Quarter ended	Months ended in	figures for the	figures for the	Figures for the
SI. PARTICULARS No.			the previous year	current year ended	previous year	year ended
	30.09.2019	30.06.2019	30.09.2018	30.09.2019	ended 30.09.2018	31.03.2019
	UNAUDITED	UNAUDITED	UNAUDITED	UNAUDITED	UNAUDITED	AUDITED
Revenue from operations I	6,967.89	3,617.17	2,472.73	10,585.06	4,876.59	17,644.91
Other Income II	74.98	70.60	60.97	145.60	121.88	249.80
Ill Total Income (1+11}	7,042.87	3,687.77	2,533.70	10,730.66	4,998.47	17,894.71
Expenses IV
Purchases	3,803.26	844.16	797.16	4,647.42	1,368.43	9,232.71
Changes in inventories	202.24	160.62	(47.48)	362.86	390.23	151.54
Technical & Operation expense	1,194.37	1,198.73	690.93	2,393.12	1,248.72	3,709.38
Employee benefit expense	873.87	863.21	580.09	1,737.08	1,152.36	2,587.75
Finance costs	233.34	232.62	160.62	465.96	324.17	709.30
Depreciation & amortisation expense	18.14	29.64	64.10	47.78	127.99	254.69
Other Expenses	508.86	81.70	190.08	590.57	222.93	653.08
Total expenses (IV}	6,834.08	3,410.68	2,435.50	10,244.79	4,834.83	17,298.45
v Profit/(Loss) before Exceptional Items and Exceptional Items VI	208.79 -	277.09 -	98.20	485.87	163.64 -	596.26
VII Profit/(Loss) before Tax (V-VI)	208.79	277.09	- 98.20	- 485.87	163.64	- 596.26
VIII Tax expense
1) Current Tax	68.64	92.92	0.20	161.56	17.89	269.15
2) Tax Expenses relating to Earlier years	-	-	-	-	-	-
3) Deferred Tax	0.99	23.38	28.23	24.36	54.86	(40.54)
Profit/Loss for the period from continuing IX
operations	139.16	160.79	69.77	299.95	90.89	367.65
Profit/(Loss) from discontinuing
operations x	-	-	-	-	-	-
Tax expense of discontuing operations XI	-	-	-	-	-
Profit/(Loss) from discontinuing						-
operatjons (after tax) (X-XI} XII	-	-	-	-	-	-
XIII Profit/(Loss) for the period (IX-XII}	139.16	160.79	69.77	299.95	90.89	367.65
XIV Other Comprehensive Income
A (i) Items that will not be reclassified to
profit or loss	-	-	-	-	-	-
(ii) Income Tax relating to items that will not be reclassified to profit or loss
Add: B (i) Items that will be reclassified to
profit or loss	-	-	-	-	-	16.35
Less: (ii) Income Tax relating to items that
will be reclassified to profit or loss				.:
	-	-	-		-	5.46
xv Total Comprehensive Income for the period (comprising Profit, (Loss) and
Other comprehensive Income for the
period	139.16	160.79	69.77	299.95	90.89	378.54
Earning Per equity share (for continuing
XVI operations):
(1) Basic	1.11		1.29	0.56 2.40		0.73 2.94
(2)Diluted Earning Per equity share (for		1.11	1.29	0.56	2.40	0.73 2.94
discontinued & Continuing operations):
XVII
(1) Basic	1.11		1.29	0.56	2.40	2.94 0.73
(2)Diluted	1.11		1.29	0.56	2.40 0.73	2.94

TERA SOFTWARE LTD. CIN L72200TG1994PLC018391 #8-2-293/82/A/1107, Plot no 1107, Road no 55, Jubilee Hills, Hyderabad-33. SEGMENT WISE REVENUE AND RESULTS

					Rupees in Lakhs
	PARTICULARS	Quarter ended	Preceding Quarter ended		Year to date	Year to date
				Corresponding 3	figures for the	figures for the	Figures for the
SI.				Months ended in	current year	previous year	year ended
No.				the previous year	ended	ended
		30.09.2019	30.06.2019	30.09.2018	30.09.2019	30.09.2018	31.03.2019
		UNAUDITED	UNAUDITED	UNAUDITED	UNAUDITED	UNAUDITED	AUDITED
1	Segment Revenue
	Solutions Division a) Integrated	4,339.13	663.75	696.38	5,002.88	1,061.51	9,410.45
	b) Technical Division	604.08	595.03	653.88	1,199.10	1,339.44	2;602.50
	c) Projects Division	2,024.68	2,358.38	1,122.47	4,383.08	2,475.64	5,631.96
	from operations Net sales/Income	6,967.89	3,617.16	2,472.73	10,585.06	4,876.59	17,644.91
	Results [Profit I (Loss) before Segment
	Tax and Interest from each Segment]
2
	a) Integrated Solutions Division	477.87	353.07	107.72	830.93	(375.81)	1,358.23
	b) Technical Division	71.56	71.74	71.72	143.30	172.90	300.42
	c) Projects Division	427.42	191.62	416.16	619.04	1,085.89	513.38
	Total	976.85	616.43	595.60	1,593.27	882.98	2,172.03
	Less: i) Interest Expenses	233.34	232.62	160.62	465.96	324.17	709.30
	ii) Un-allocable expenditure (Net)	609.70	177.33	397.75	787.04	517.05	1,116.27
	Add: Interest and Other Income	74.98	70.61	60.97	145.60	121.88	249.80
	Total Profit/(Loss) Before Tax	208.79	277.09	98.20	485.87	163.64	596.26
	Segment Assets
	Integrated Solutions Division	564.92	964.57	682.29	564.92	682.29	1,519.11
	Technical Division	786.56	816.33	645.39	786.56	645.39	780.76
	Projects Division	13,294.40	12,064.48	9,575.15	13,294.40	9,575.15	11,419.97
	Unallocable	6,002.44	6,055.84	5,089.04	6,002.44	5,089.04	5,453.94
	Total	20,648.32	19,901.22	15,991.87	20,648.32	15,991.87	19,173.78
	Segment Liabilities
	Integrated Solutions Division	828.30	444.95	271.29	828.30	271.29	678.32
	Technical Division	654.75	638.20	814.0:j	654.75	814.03	559.06
	Projects Division	2,987.04	2,848.19	660.57	2,987.04	660.57	2,267.73
	Unallocable	16,178.23	15,969.88	14,245.98	16,178.23	14,245.98	15,668.67
	Total	20,648.32	19,901.22	15,991.87	20,648.32	15,991.87	19,173.78
	(Segment Assets - Liabilities)
	Integrated Solutions Division	(263.38)	519.62	411.00	(263.38)	411.00	840.79
	Technical Division	131.81	178.13	(168.64)	131.81	(168.64)	221.70
	Projects Division	10,307.36	9,216.29	8,914.58	10,307.36	8,914.58	9,152.24
	Unallocable	(10,175.79)	(9,914.04)	(9,156.94)	(10,175.79)	(9,156.94)	(10,214.73)
	Total	-	-	-	-	-	-

Particulars I.ASSETS 1. Non-current assets (i) Property, Plant & Equipment - (ii) Financial Assets (a) Other financial assets (iii) Other non current assets	3,141.54 239.48 - 210.67	Unudited 30th September 2019	3,170.43	Audited 31st March 2019
			300.87
			-
(iv) Deferred tax Asset (net)			235.03
		3,591.69		3,706.33
2. Current assets
(i) Inventories	700.58		1,063.44
(ii) Financial Assets
(a) Trade receivables	16,537.95		13,564.53
(b) Cash and Cash Equivalents (c) Other financial assets	1,851.40 44.99		1,601.09
(iii) Other current assets	969.82		22.22 842.31
		20,104.74		17,093.59
Total		23,696.43		20,799.92
II EQUITY AND LIABILITIES
A Equity
(a) Equity Share Capital	1,251.19		1,251.19
(b) Other Equity	9,295.81		8,995.87
		10,547.00		10,247.06
B Liabilities
1. Non-current liabilities
(i) Financial liabilities
(a) Long-term borrowings	125.46		116.94
(ii) Other long term liabilities	- 187.31		-
(iii) Long-term provisions (iv) Deferred tax liabilities (net)	-		167.51 -
		312.77		284.45
2. Current liabilities
liabilities (i) Financial
(a) Short-term borrowings	4,530.02		4,939.66
(b) Trade payables
Total Outstanding dues to Micro enterprises and
sma II enterprises	290.50		238.78
Total Outstanding dues to creditors other than
Micro enterprises and small enterprises	7,265.19		4,557.36
(c) Other financial liabilities	113.93		167.47
(ii) Other current liabilities	526.70		254.82
(iii) Short-term provisions	110.32		110.32
		12,836.66		10,268.41
Total		23,696.43		20,799.92

STATEMENT OF ASSETS AND LIABILITIES

Notes:

1 The above financial results for the quarter ended 30th September 2019 have been reviewed by the Audit Committee and were approved by the Board of Directors of the Company at the meeting held on 14th November 2019

2 This statement is as per regulation 33 of the SEBI (listing obligationsand disclosure Requirements) Regulations, 2015. These financials results of the Company were prepared in accordance with the Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013 ("the act") read with relevant rules issued there under ("Ind AS") and other accounting principles generally acceprted in India and guidelines issued by the Securities and Exchange Boardof India ("SEBI").

3 Corresponding quarter/year figures heve been re-grouped /re-classified wherever necessary to confirm to the classification of the current period.

Place: Hyderabad Date : 14th November 2019