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Tera Software Ltd. Interim / Quarterly Report 2024
61455_rns_2024-02-10_06e85007-75c4-465d-9f46-d8213ba1039b.pdf
Interim / Quarterly Report
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Regd. Office | # 8-2-2931821 N 1107, Road Number 55, Jubilee Hills, Hyderabad,Telangana 500033. Tel :+91-40-23547447 E-mail : [email protected] www.terasoftware.com
Date: 10th February, 2024
| BSE Limited | National Stock Exchange of India Limited |
|---|---|
| P.J. Towers | Exchange Plaza, Bandar Kurla Complex |
| Dalal Street, Mumbai - 400001 | Bandra G ). Mumbai - 400051 |
| Scrin:533982 | Symbol: TERASOFT |
Dear Sir/Madam,
Sub: Outcome of Board Meeting held on 10th February,2D24
Ref: Regulation 30 read with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
We, herewith intimate to the Stock Exchanges that the Board of Directors of the Company at their meeting held today (10th February,2)24) has considered and approved:
- Un-Audited Financial Results (Standalone and Consolidated) of the Company for Quarter ended 3l't December,2l23 along with the Limited Review Report.
Please Note that a Joint Venture Company "TS Innovations Private Limited" (Revenue not yet generated) incorporated on 18th July, 2023 (a subsidiary of Tera Software Limited) financial results are included in the Consolidated financial results of Tera Software Limited.
Kindly note that the meeting was commenced at 12:00 noon and concluded at 02:30 p.m.
This is for your kind information and records.
Yours faithfully, For TEBAISOFTWARE LIMITED
GOPICHAN D TUMMALA Digitally signed by GOPICHAND TUMMALA DN: cn=GOPICHAND TUMMALA c=IN o=Personal Reason: I am the author of this document Location:
TERA SOFTWARE LIMITED
CIN L72200TG1994PLC018391
8-2-293/82/A/1107, Plot no 1107, Road no 55, Jubilee Hills, Hyderabad-33.
STATEMENT OF STANDALONE UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE MONTHS PERIOD ENDED 31st DECEMBER, 2023 $\sim$
| Rupees in Lakhs | ||||||
|---|---|---|---|---|---|---|
| PARTICULARS | QUARTER ENDED | Nine months Period Ended | For the Year Ended |
|||
| 31.12.2023 | 30.09.2023 | 31.12.2022 | 31.12.2023 | 31.12.2022 | 31.03.2023 | |
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| 1. Income from Operations | ||||||
| (a) Net Sales /Income from operations | ||||||
| (net of excise duty) | 2,073.21 | 2,117.25 | 2,184.65 | 6,134.68 | 7,649.88 | 11,658.06 |
| (b) Other operating Income | 858.81 | 859.32 | 1,421.97 | |||
| (c) Other Income | 90.22 | 88.97 | 2,263.06 | 287.03 | 2,429.47 | 2,515.93 |
| Total Income from Operations (net) | 2,163.43 | 2,206.22 | 5,306.52 | 6,421.71 | 10,938.67 | 15,595.96 |
| 2. Expenses | ||||||
| Purchases | ||||||
| Changes in inventories of finished goods, | ||||||
| work-in-progress and stock in trade | ||||||
| 7.56 | 220.18 | 7.56 | 261.71 | 261.71 | ||
| Technical & Operation expense | 1,418.04 | 1,323.56 | 1,165.01 | 3,975.57 | 5,429.58 | 8,456.13 |
| Employee benefit expense | 470.15 | 461.41 | 429.83 | 1,392.43 | 1,294.93 | 1,751.93 |
| Finance costs | 66.30 | 73.59 | 162.48 | 232.53 | 555.64 | 636.20 |
| Depreciation & amortisation expense | 3.70 | 3.82 | 5.77 | 11.37 | 17.85 | 23.49 |
| Other Expenses | 73.35 | 122.09 | 2,701.04 | 265.21 | 2,867.89 | 3,600.94 |
| Total Expenses | 2,031.54 | 1,992.03 | 4,684.31 | 5,884.67 | 10,427.60 | 14,730.40 |
| 3. Profit/(Loss) from ordinary activities | ||||||
| but before Exceptional Items (1-2) | 131.89 | 214.19 | 622.21 | 537.04 | 511.07 | 865.56 |
| 4. Exceptional Items | 139.47 | 139.47 | ||||
| 5. Profit/(Loss) from ordinary activities | ||||||
| before tax (3-4) | 131.89 | 74.72 | 622.21 | 397.57 | 511.07 | 865.56 |
| 6. Tax expense | ||||||
| 1) Current Tax | 21.26 | 48.77 | 143.98 | 135.66 | 143.98 | 190.37 |
| 2) Tax Expenses relating to Earlier years | 276.53 | 276.53 | 276.53 | |||
| 3) Deferred Tax | (0.42) | 43.56 | 72.72 | 89.15 | 94.03 | 52.08 |
| 7. Profit/(Loss) from ordinary activities | ||||||
| after tax (5-6) | 111.05 | (17.61) | 128.98 | 172.76 | (3.47) | 346.58 |
| 8. Extraordinary items (net of tax Rs | ||||||
| Lakhs) expense |
$\blacksquare$ | |||||
| 9. Net Profit/(Loss) before Other | ||||||
| comprehensive income (7-8) | 111.05 | (17.61) | 128.98 | 172.76 | (3.47) | 346.58 |
WAR
DERAB
For Tera Software Limited
Chairman and Managing Director
| 10. Other Comprehensive Income | ||||||
|---|---|---|---|---|---|---|
| Add: (i) Items that will be reclassified to | ||||||
| profit or loss | 11.65 | (42.45) | 61.14 | (4.88) | ||
| Less: (ii) Income Tax relating to items that | ||||||
| will be reclassified to profit or loss | (2.93) | 10.68 | (15.39) | $\blacksquare$ | (1.23) | |
| 11. Net Profit/(Loss) for the period (9-10) | ||||||
| 125.63 | (49.38) | 128.98 | 249.29 | (3.47) | 342.93 | |
| 12. Paid up Equity Share Capital (Face | ||||||
| Value Rs 10/-) | 1,251.19 | |||||
| Reserves (excluding Revaluation Reserve | ||||||
| as per the Balance Sheet of previous | ||||||
| accounting year) | 9,535.65 | |||||
| Earning Per equity share (for continuing | ||||||
| operations): | ||||||
| (1) Basic | 0.89 | (0.14) | 1.03 | 1.38 | (0.03) | 2.77 |
| $(2)$ Diluted | 0.89 | (0.14) | 1.03 | 1.38 | (0.03) | 2.77 |
| Earning Per equity share (for discontinued | ||||||
| & Continuing operations): | ||||||
| (1) Basic | 0.89 | (0.14) | 1.03 | 1.38 | (0.03) | 2.77 |
| (2)Diluted | 0.89 | (0.14) | 1.03 | 1.38 | (0.03) | 2.77 |
For Tera Sof ware Limited Chairman and Managing Director
TERA SOFTWARE LIMITED 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 | ||||||
|---|---|---|---|---|---|---|
| QUARTER ENDED | Nine months Period Ended | For the Year | ||||
| PARTICULARS | Ended | |||||
| 31.12.2023 | 30.09.2023 | 31.12.2022 | 31.12.2023 | 31.12.2022 | 31.03.2023 | |
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| 1. Segment Revenue | ||||||
| a) Integrated Solutions Division | ||||||
| b) Technical Division | 1,542.63 | 1,510.38 | 1,475.36 | 4,510.58 | 4,327.61 | 5,809.57 |
| c) Projects Division | 530.58 | 606.87 | 1,568.10 | 1,624.10 | 4,181.58 | 7,270.45 |
| Net sales/Income from operations | 2,073.21 | 2,117.25 | 3,043.46 | 6,134.68 | 8,509.20 | 13,080.03 |
| 2. Segment Results [Profit / (Loss) before | ||||||
| Tax and Interest from each Segment] | ||||||
| a) Integrated Solutions Division | (119.83) | (213.37) | (206.29) | |||
| b) Technical Division | 88.73 | 28.08 | 178.91 | 183.98 | 491.22 | 670.09 |
| c) Projects Division | 173.73 | 394.99 | 1,244.19 | 832.48 | 1,481.38 | 2,468.64 |
| Total | 262.46 | 423.07 | 1,303.27 | 1,016.46 | 1,759.23 | 2,932.44 |
| Less: i) Interest Expenses | 66.30 | 73.59 | 162.48 | 232.53 | 555.64 | 636.20 |
| ii) Un-allocable expenditure (Net) | 154.50 | 363.73 | 2,781.64 | 673.40 | 3,121.99 | 3,946.59 |
| Add: Interest and Other Income | 90.22 | 88.97 | 2,263.06 | 287.03 | 2,429.47 | 2,515.93 |
| Total Profit/(Loss) Before Tax | 131.89 | 74.72 | 622.21 | 397.57 | 511.07 | 865.56 |
| Segment Assets | ||||||
| Integrated Solutions Division | 9.88 | 25.30 | 421.73 | 9.88 | 421.73 | 54.03 |
| Technical Division | 2,732.37 | 1,593.63 | 1,159.23 | 2,732.37 | 1,159.23 | 1,275.77 |
| Projects Division | 10,103.26 | 13,224.76 | 13,569.40 | 10,103.26 | 13,569.40 | 13,222.15 |
| Unallocable | 5,812.66 | 5,445.10 | 4,191.99 | 5,812.66 | 4,191.99 | 5,256.65 |
| Total | 18,658.17 | 20,288.79 | 19,342.35 | 18,658.17 | 19,342.35 | |
| Segment Liabilities | 19,808.60 | |||||
| Integrated Solutions Division | 333.37 | 333.14 | 892.47 | 333.37 | 892.47 | |
| Technical Division | 656.55 | 746.48 | 975.17 | 656.55 | 975.17 | 329.78 |
| Projects Division | 2,250.47 | 3,625.25 | 3,816.07 | 2,250.47 | 3,816.07 | 1,138.31 3,414.29 |
| Unallocable | 15,417.78 | 15,583.91 | 13,658.64 | 15,417.78 | 13,658.64 | 14,926.23 |
| Total | 18,658.17 | 20,288.78 | 19,342.35 | 18,658.17 | 19,342.35 | 19,808.61 |
| (Segment Assets - Liabilities) | ||||||
| Integrated Solutions Division | (323.49) | (307.85) | (470.74) | (323.49) | ||
| Technical Division | 2,075.82 | 847.15 | 184.06 | 2,075.82 | (470.74) 184.06 |
(275.75) |
| Projects Division For Tera Software Limit 852.79 |
9,599.51 | 9,753.33 | 7,852.79 | 9,753.33 | 137.46 9,807.86 |
|
| Unallocable | (9,605.12) | (10, 138.81) | (9,466.65) | (9,605.12) | (9, 466.65) | (9,669.57) |
| Total $\mathscr{L}_{b}$ $\n W\n$ |
DERAB
Chairman and Managing Director
Notes:
- 1 The above financial results for the quarter ended 31st December, 2023 have been reviewed by the Audit Committee and were approved by the Board of Directors of the Company at the meeting held on 10th February, 2024
- 2 This statement is as per regulation 33 of the SEBI (Listing obligations and 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 accepted in India and guidelines issued by the Securities and Exchange Boardof India ("SEBI").
- 3 Fixed Assests of the company with gross block value of Rs.838.69 Lakhs has been subiect to an interim attachment by the Government of Andhra Pradesh. Vide G.o.No 180dt31.10.2023. The matter is under Jurisprudence
- 4 Corresponding quarter/Year figures have been re-grouped /re-classified wherever necessary to confirm to the classification of the current period.
Place: Hyderabad Date: 10-02-2024
Digitally signed by GOPIC GOPICHAND
TUMMALA DN: cn=GOPICHAND HAND TUMMALA c=IN o=Personal Reason: I am the autho TUMMA of this document Location: LA Date: 2024-02-10 $14:32+05:30$
For Tera Software Limited
T. Gobichand Chairman & Managing Director DIN: 00107886
Off: #8-3-1047/1-B, Rama Apts. Srinagar Colony, Hyderabad -73. $:040-49520055$ Tel e-mail : [email protected] [email protected]
LIMITED REVIEW REPORT
Limited Review Report on Unaudited Quarterly and Nine months ended Financial Results Under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
To the Board of Directors of Tera Software Limited
We have reviewed the accompanying statement of unaudited standalone financial results of M/s. TERA SOFTWARE LIMITED, for the Quarter and Nine months ended 31st December 2023 and year to date results for the period 01st April 2023 to 31st December 2023, being submitted by the Company pursuant to the requirements of regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (as amended) including relevant circulars issued by the SEBI from time to time.
This Statement, which is the responsibility of the Company's Management and approved by the 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 ('the Act'), read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
We conducted our review of the Statement 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. 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 the Standards on Auditing specified under section 143(10) of the Act, 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.
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 the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, 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.
Place:Hyderabad Date:10.02.2024
for Narven Associates Chartered Accountants FRN:005905S
ASSO Hyderabad 30 AC
G.V.Ramana Partner M.no.025995 UDIN: 24025995BKASTF5282
TERA SOFTWARE LIMITED CIN L72200TG1994PLC018391
#8-2-293/82/A/1107, Plot no 1107, Road no 55, Jubilee Hills, Hyderabad-33. STATEMENT OF CONSOLIDATED UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED
AND NINE MONTHS PERIOD ENDED 31st DECEMBER, 2023
$\ddot{\phantom{a}}$
| Rs. In Lakhs | |||
|---|---|---|---|
| QUARTER ENDED | Nine months | ||
| PARTICULARS | Period Ended | ||
| 31.12.2023 | 30.09.2023 | 31.12.2023 | |
| Unaudited | Unaudited | Unaudited | |
| 1. Income from Operations | |||
| (a) Net Sales / Income from operations (net | |||
| of excise duty) | 2,073.21 | 2,117.25 | 6,134.68 |
| (b) Other operating Income | |||
| (c) Other Income | 90.22 | 88.97 | 287.03 |
| Total Income from Operations (net) 2. Expenses |
2,163.43 | 2,206.22 | 6,421.71 |
| Purchases | |||
| Changes in inventories of finished goods, | |||
| work-in-progress and stock in trade | |||
| 7.56 | 7.56 | ||
| Technical & Operation expense | 1,418.04 | 1,323.56 | 3,975.57 |
| Employee benefit expense | 470.15 | 461.41 | 1,392.43 |
| Finance costs | 66.30 | 73.59 | 232.53 |
| Depreciation & amortisation expense | 3.70 | 3.82 | 11.37 |
| Other Expenses | 73.35 | 122.60 | 265.70 |
| Total Expenses | 2,031.54 | 1,992.54 | 5,885.16 |
| 3. Profit/(Loss) from ordinary activities | |||
| but before Exceptional Items (1-2) | |||
| 131.89 | 213.68 | 536.55 | |
| 4. Exceptional Items 5. Profit/(Loss) from ordinary activities |
139.47 | 139.47 | |
| before tax (3-4) | 131.89 | 74.21 | 397.08 |
| 6. Tax expense | |||
| 1) Current Tax | 21.26 | 48.77 | 135.66 |
| 2) Tax Expenses relating to Earlier years | |||
| 3) Deferred Tax | (0.37) | 43.51 | 89.15 |
| 7. Profit/(Loss) from ordinary activities | |||
| after tax (5-6) | 111.00 | (18.07) | 172.27 |
| 8. Extraordinary items (net of tax Rs | |||
| expense _Lakhs) 9. Net Profit/(Loss) before Other |
|||
| comprehensive income (7-8) | 111.00 | (18.07) | |
| 10. Other Comprehensive Income | 172.27 | ||
| Add: (i) Items that will be reclassified to | |||
| profit or loss | 11.65 | (42.45) | 61.14 |
| Less: (ii) Income Tax relating to items that | |||
| will be reclassified to profit or loss | |||
| (2.93) | 10.68 | (15.39) | |
| 11. Net Profit/(Loss) for the period (9-10) | |||
| 12. Paid up Equity Share Capital (Face | 125.59 | (49.83) | 248.80 |
| Value Rs 10/-) | 1251-19 | 1251-19 | $ 25 \cdot 9$ |
| Reserves (excluding Revaluation Reserve | |||
| as per the Balance Sheet of previous | |||
| accounting year) | |||
| Earning Per equity share (for continuing | |||
| operations): | |||
| (1) Basic | 0.89 | (0.14) | 1.38 |
| (2) Diluted Earning Per equity share (for discontinued |
0.89 | (0.14) | 1.38 |
| & Continuing operations): | |||
| (1) Basic For Tera Software Limited |
0.89 | (0.14) | 1.38 |
| (2) Diluted | 0.89 | (0.14) | 1.38 |
DERAB
Chairman and Managing Director
TERASOFTWARE LIMITED crN r72200TG1994PLC018391 #8-2-293/82/A/llO7, Plot no 1107, Road no 55, fubilee Hills, Hyderabad-33. SEGMENT WISE REVENUE AND RESULTS
| Rs. In Lakhs | |||
|---|---|---|---|
| Nine months | |||
| QUARTERENDED PARTICULARS |
Period Ended | ||
| 31.12.2023 | 30.o9.2023 | 3t.12.2023 | |
| Unaudited | Unaudited | Unaudited | |
| l.Segment Revenue | |||
| a) Integrated Solutions Division | |||
| b) Technical Division | t,sqz,.oz | 1,510.38 | 4,510.58 |
| c) Proiects Division | 530.58 | 606.87 | 1,624.LO |
| Net sales/Income from operations | 2.O73.21 | 2,117.25 | 6,134.68 |
| 2. Segment Results [Profit / (Loss) before | |||
| Tax and Interest from each Segment] | |||
| a) Integrated Solutions Division | |||
| b) Technical Division | sa.ze | 28.08 | 183.98 |
| c) Proiects Division | 173.73 | 394.99 | 832.48 |
| Total | 262.46 | 423.O7 | 1,oL6.46 |
| Less: i) Interest Expenses | 66.30 | 73.59 | 232.53 |
| ii) Un-allocable expenditure (Net) | 154.50 | 364.22 | 673.89 |
| Add: Interest and Other Income | 90.22 | 88.97 | 287.O3 |
| Total Profit/floss) Before Tax | 131.89 | 74.21 | 397.08 |
| SegmentAssets | |||
| Integrated Solutions Division | 9.88 | 25.30 | 9.88 |
| Technical Division | 2,732.37 | 1,593.63 | 2,732.37 |
| Profects Division | to,Lo3.26 | 13,224.76 | 10,103.26 |
| Unallocable | 5,8L2.66 | 5,445.L0 | 5,812.66 |
| Iotal | 18,658.17 | 20,288.79 | 18,658.17 |
| Segment Liabilities | |||
| Integrated Solutions Division | 333.37 | 333.14 | 333.37 |
| Technical Division | 656.S5 | 746.48 | 656.55 |
| Proiects Division | 2,250,47 | 3,625.25 | 2,250.47 |
| Unallocable | 15,417,78 | 15,583.91 | ls,4L7.7B |
| Total | L8,658.17 | 20,288.78 | 18,658.17 |
| (Segment Assets - Liabilities) | |||
| Integrated Solutions Division | (323.4e) | (307.8s) | (323.4e1 |
| Technical Division | 2,075.82 | 847.15 | 2,075.82 |
| Proiects Division | 7,852,79 | 9,599.51 | 7,852.79 |
| Unallocahle | t9,605.12) | [10,138.81) | t9.605.12) |
| TotaI |
- The above financial results for the quarter ended and Nine months period ended 31st December, 2O23 have been reviewed by the Audit Committee and were approved by the Board of Directors of the Company at the meeting held on 10th February, 2024
- This statement is as per regulation 33 of the SEBI (Listing obligations and 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 AcC 2013 ("the act") read with relevant rules issued there under [1'Ind AS") and other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Boardof India ("SEBI").
Fixed Assests of the companywith gross blockvalue of Rs.838.69 Lakhs has been subiect to an interim attachment by the Government of Andhra Pradesh. Vide G.o.No 180dt31.10.2O23.The The matter is under |urisprudence
Corresponding quarter/Year figures have been re-grouped /re-classified wherever necessary to confirm to the classification ofthe current period.
For Tera So
GOPICHAND TUMMALA Digitally signed by GOPICHAND TUMMALA DN: cn=GOPICHAND TUMMALA c=IN o=Personal Reason: I am the author of this document Location: Date: 2024-02-10 14:32+05:30
Place: Hyderabad Date: 10-02-2024 Chairman & Managing Director DIN :00107886
Off: # 8-3-1047/1-B, Rama Apts. Srinagar Colony, Hyderabad -73. Tel : 040-4952 0055 e-mail : [email protected] [email protected]$
LIMITED REVIEW REPORT on Unaudited Consolidated Financial Results for the Quarter and Nine Months ended 31st December, 2023 of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To The Board of directors, TERA SOFTWARE LIMITED Hyderabad.
-
- We have reviewed the accompanying statement of unaudited Consolidated financial results of M/s TERA SOFTWARE LIMITED, ("the Company") and its subsidiaries (the company and its subsidiaries together referred to as ("the Group") for the quarter and Nine Months ended on December 31st, 2023. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the 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 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 financial statements are free of material misstatement. A review is limited primarily to inquiries of company's 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.
-
- Based on our review 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 recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, 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.
We also performed procedures in accordance with circular issued by SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, amended to the extent applicable.
- The Statement includes the results of the following Subsidiaries:
| Name of the Company | Relation | ||||
|---|---|---|---|---|---|
| TS Innovations Private Limited | Indian Subsidiary |
-
- Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited consolidated financial results, prepared in accordance with the recognition and measurement principles laid down in the aforesaid accounting standards 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.
-
- Our Conclusion is not modified in respect of this matter.
-
- The consolidated Unaudited Financial results includes the Interim Audited Financials of M/s. TS Innovations Private Limited, whose financial statements and other financial information have been reviewed by us, whose financial statements reflect total assets of Rs.62.99 lakhs as at 31st December, 2023, in the consolidated balance sheet and total revenues of Rs. Nil, for the period ended at 31st December, 2023 and Loss for the period ended with 31st December' 2023 of Rs. 0.49 Lakhs as considered in the consolidated financial statements. These financial results/statements and other financial information have been reviewed by us whose reports have been furnished to us by the Management. Our opinion, in so far as it relates to the affairs of these subsidiaries, is based solely on our review.
For Narven Associates Chartered Accountants Firm Regn. No: 005905S
Hyderabad G.V.Ramana
Partner M.No.: 025955 UDIN: 24025995BKASTE2044
Place: Hyderabad Date: 10-02-2024.