Vindhya Telelinks Ltd. — Interim / Quarterly Report 2021

Mar 6, 2021

Vindhya Telelinks Limited

ee a , Regd. Office ; ; Udyog Vihar, P.O. Chorhata, qa wea 'Rewa - 486 006 (M.P.}-India. . £: headoffice@vtlrewa.com P; +91 7662 400 4001 F: +91 7662 400 591

BSE Ltd. - The Manager, Corporate Relationship Department, Listing Department, 'Rotunda Building, Exchange Plaza, C-1, Block G, P.J.Towers, Dalal Street, Bandra Kurla Complex, Fort, Bandra (E),

VTL/CS/20-21/ 12 FEB 2021

1st Floor, New Trading Ring, The National Stock Exchange of India Ltd, MUMBAI-400 001 MUMBAI-400 051

Company's Scrip Code: 517015 Company's Scrip Code: VINDHYATEL

Dear Sir,

Sub: Unaudited Standalone and Consolidated Financial Results of the Company for the Quarter and Nine Months ended on 31* December, 2020

This is to inform you that the Board of Directors of the Company at its meeting held today, i.e. 12 February, 2021, interalia, has approved the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended on 31st December, 2020 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the statement in the prescribed format showing the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended on 31st December, 2020 alongwith the Limited Review Reports of the statutory auditors thereof.

The aforesaid meeting of the Board of Directors of the Company commenced at 3:45 P.M. and concluded at G2y5 P.M.

This is for your information and record.

Thanking you,

Yours faithfully,

for Vindhya Telelinks Ltd. ésh Wadhera)

Company Secretary & Compliance Officer

Encl: As above.

OFC Unit : 1-C-& 1-D, Udyog Vihar, P.O, Chorhata, Rewal - 486 006 (MP) India. | wwwivtlrewacon | CIN: L37300MP1983PLC002134 | BAN No. AAACV77573

VINDHYA TELELINKS LIMITEDRegis Office: Usings Vitar, P.O.Chapters ... 485 008 (24.P.)Telephone No: C31500409 Tele No. 07681-495991Email: Deside/Registrate com; Website: WWW.-different.com;Email: Deside/Registrate com;

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTSFOR THE QUARTER AND NINE MONTHS ENDED $\mathfrak{Z1}^{\text{ST}}$ DECEMBER, 2020

	Particulars		Quarter Ended			Nine Months Ended	Year Endod
SL.		31.12.2020	30.09.2020	31.12.2019	31.12.2020	31 12 2019	31 03 2020
Na.		(Unamilted)	(Unsuintd)	(Unanchited)	(Unsudited)	(Unaudited)	(Audited)
¥	lucome
	(a) Revenue from Operations	33715.92	32788.73	57229.87	94549.24	142410.52	188319.31
	(b) Other Income	31.62	785.84	272.87	1295.74	1788 46	1896.19
	Tetal Income	33747.54	33574.57	57582.74	96544.98	144198.98	190215.50
Ž	Expenses
	(a) (i) Cost of Raw Materials Consistred	6246.19	6550.28	8084.85	15140.94	24698.31	32483.19
	(ii) Cost of Maierials and Other Contract Expenses	16286.72	35892.05	39844.42	43208.98	99832.80	127191.81
	(b) Changes in Inventories of Finished Goods andWork-in-Progress, etc.	2908.16	2004.46	(3099.42)	12598.02	(16730.15)	(17382.65)
	(c) Employee Benefits Exponse	2158.91	2287.08	2367.43	6459.78	7:13.7%	9646.75
	(d) Finance Costs	1849.77	2024.36	3597.44	5834.87	7383.91	9701.54
	(e) Depreciation and Amortisation Expense	650.80	512.69	$14.08	1658.19	1575.09	2073.24
	(f) Other Expenses	1842.41	1487.96	2658.85	4764.74	7766 81	10369.38
	Total Expenses	31942.96	30758.88	52967.65	89665.44	131640.55	174083.36
3	Profit before Tax (1-2)	1504.58	7813.69	4535.09	7179.54	12558.43	16132.24
4	Tax Expense
	(a) Current Tax	181.00	584.52	1210.00	1463.52	3092.65	4090.83
	(b) Earlier year Tax expense/(written back)	20.67		(209.38)	(3.90)(136.36)	(209.38)(191.57)	(309.47)(338.64)
	(c) Deferred Tax	(64.22)	(14.92)	(48.07)
$	Profit for the Period (3-4)	1367.13	2246.09	3382.54.	5855.32	9866.73	12689.52
舂	Other Comprehensive Income (OCI)
	(a) Items that will not be re-classified to Profit or Loss	295.81	223.29	455.31	1492.62	(3421.05)	(7073.17)
	(b) Taxes relating to the above items	(20.86)	(19.48)	(31.03)	(40.34)	635.62	685.48
	Total Other Comprehensive Income	274.95	205.81	418.28	1452.28	(4785.43)	(6387.69)
7	Total Comprehensive Income for the Period(Net of Tax) (5+6)	1642.08	2451.90.	4006.32	7307.60	5681.36	6301.83
Š.	Paid-up Equity Share Capital(Face value of ₹10/- per Share)	1185.09	1185.09	1185.00	1185.09	1185.00	1185.00
9	Other Equity						76640.43
m	Basic & Diluted Earning Per Share (₹)(not annualited)	11:54	18.95	50.23	49.41	83.26	107.08

$\mathcal{L}_{\mathcal{L}}$

						(C in lakhs)
51		Quarter Ended			Nine Munths Ended		Year Feded
Na.	$\sim 10^{11}$ .Particulars	31.12.2020	30 09 2020	31.12.2019	31.12.2020	31.12.2019	31.03.2020
		(Unaudited)	(Unamined)	(Unamined)	(Insudited)	(Unanided)	(Audited)
ş.	Segment Revenue
	Cables主張を	$815.08	8521.08	11552.77	22543.26	35859.01	45116.60
	Engineering. Procurement & Construction (EPC).绿线	25770.79	25116.50	47135.73	73841.57	115617.13	154472.69
	Total	34585.87	33637.58	58688.50	96384.83	151476.14	199589.29
	Less Inter-Segment Revenue	869.95	E4S $5	1458.63	1835.59	9065 62	11249.98
	Total Revenue from Operations	33715.92	32788.73	57229.87	94549.24	142418.52	128319.31
2	Segment Results
	Segment Profit before Tax and Interest
	Cables(a)	722.08	979.74	1642.49	2045.57	5094.63	6062.92
	Engineering, Procurement & Construction (EPC).(b)	2803.42	3127.36	5412.30	8757.34	13548.90	13099.97
	Total	3525.50	4107.10	7054.79	10502.91	18643.53	24102.89
	Less: Interest (Net)	(1540.23)	(1769.50)	(2197.93).	(5011.41)	(6356.00)	(8574.18)
	Add. Cither Unallocable Income Net of UnallocableExpenses	(180.69)	478.09	(321.77)	1389.94	270.90	483.53
	Total Profit before Tax	1804.58	2815.69	4535.09	7179.54	12558.43	16132.24
3	Segment Assets
	Cables$\langle x \rangle$		35770.04		41249.38	33868.16	38278.38
	Engineering, Procurement & Construction (EPC)(b)		181032.73		175487.57	212776.70	205463.57
	Unsillocated Corporate Assets.$\langle e \rangle$		18597.37		18871.58	18378.55	16751-70
	Total Assets		215400.14		235608.33	265023.41	260493.65
Å	Segment Liabilities
	Cables(a)		4852.11		11750-48	7672.73	7243.66
	Engineering, Procurement & Construction (EPC)(b)		67128.60		60552.12	90863.01	$3237.10
	Unallocated Corporate Liabilities₹€).		30913.10		79357.32	$9882.77	90187.47
	Towns I Indiana -		153093.81		151659.92	128418.51	182668.22

STANDALONE SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES

$\epsilon_{\rm{m}}$

${2}$

Notes:

• The above Unaudited Standalone Financial Results were reviewed and recommended by the Audit Committee and $\ddagger$ approved by the Board of Directors at their respective meetings held on 12th February, 2021. The Statutory Auditors of the Company have carried out a limited review of the said results.
• 2 The Company has assessed the impact of COVID-19 pandemic on its financial results/position and as per the current assessment, the Company expects to recover the earrying amount of inventory, trade receivables and other assets. However, the eventual outcome of the pandemic may differ from that estimated as at the date of approval of these interim financial results.
• Figures for the previous period-year are re-classified re-grouped, wherever necessary, to correspond with the $\mathfrak{Z}$ current period's/year's classification.

Date: 12th February, 2021

$\frac{1}{2}$ . The contribution of the set of the set of the set of the set of the set of the set of the $\sim$

For VINDHYA TELELINKS LIMITED

KV. bell-

FLET

(HARSH V. LODHA) CHAIRMAN DIN: 00394094 SINGAPORE

$[3]$

Review report on Unaudited Standalone Financial Results of Vindhya Telelinks Limited pursuant to regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Vindhya Telelinks Limited

• We have reviewed the accompanying statement of unaudited standalone financial results (the Statement") of Vindhya Telelinks Limited ("the Company") for-the quarter and nine months ended December 31, 2020, being submitted by the Company pursuant t the requirements of regulation 33 of the SEDI (Listing Obligations and Disclosure Requirements) Regulations, 7015, as amended.
• We draw attention ta the faet thal the corresponding financial resulis for the quarter and nine-months ended December 31, 2019 and for the year ended March 31, 2020 CGiogether referred to as the corresponding financial results"), prepared in accordance with the recognition and measurement principles laid down in Ind AS included in the Statement have been reviewed/audited by the predecessor auditor who had revicwed/audited the financial results for the rclevant periods and expressed an unmodified opinion as per the reports dated February 7, 2020 and Jume 1, 2020 respectively.
• 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 Siamdard 34, "Interim Financial Reporting™ ("ind AS 34°), preseribed 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 issue a report on the Statement based on our review. Our responsibility is to express a conclusion on the statements hased upon 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 (ICAI). A review of interim financial information consists of making inquiries, primarily of the company's personnel responsible for financing and accounting matters, and applying analytical and other review procedures. A review is substantially less in seope than audit conducted in accordance with standards of auditing specified ander 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.
• 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 resalts prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other

Raj Tower-!, G-1, Alaknanda Community Center, New Delhi -110 619, Ph: 91 11 2602 5140

Gurugram Jaipar Noida Udaipur e-mail: bejci@baie in GOSTN: OJAAAFBOO28KIZW

accounting principles generally accepted in India has not disclosed the information required to be disclosed in term 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.

For BGIC & Associates LLP

Chartered Accountants

Firm Registration Number: 003304N/N500056 Yor

Pranav Jain Partner Membership Number: 098308

Place: New Delhi Date: February 12, 2021

VINDHYA TELELINKS LIMITED V ST Var V II (F. 1975)Rege, Office: Uthroy Vitar, P.O.Charlade, Raws - 486 904 (M.P.)Talephuon No: 02163/459496, Fax No: 0265240051Ernal: Neadoffice@virems.com, Wehalks: overcellives.com

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED J1st DECEMBER, 2020

							if in Inkhai
		Quarter Endro			Nine Months Ended	Year finded
55.Nm.	Fartienters	31.12.2020	3/109 2020	31 12 2019	31.12.2026	3112.2019	31 43 2024
		it mandited)	(Unmakind)	ri innadnadi	fl'usuditedi	(Unitedited)	i Aashtadii
ř	Income
	liar - Revauae Gom Operatoms	33,715.92	32.788.73	57.229.57	94.549.24	1.42.410.52	1.88.359.31
	ith Other Income	110.01	2.474.62	$$7.78	5.192.33	1.749.03	2,383.74.
	i Fatal Incame	34.0%6.01	$5,263.35	37.787.69	99.741.57	1-44.359.52	1.90-283.05
2	Expenses
	Tri-Cost of Russ Materials CoraumedLi≚≯	6.246.19	8.559.28	3 984 85	半くすお削与る	24.698.38	32.483.391
	(19) Cest of Materials and Other Contract Expenses	16,256.72	15 892 05	59.943.42	43.20%.98	99.832.80	1.27.191.81
	(th) Changes in Inventories of Finished Goods and	2.908.86	2 004 An	13.699.428	12.598.02	114.TXV 15:Ä	(17.382.653)
	Work-in-Progress, etc.har.
	Employee Benefits Expense	2.163.85	2.291.26	0.373.09	6,470.86	7.124.55	维基酸 死足
	har Fosma Coar	1.849.77	2.024.36	2.897.44	5334.87	7.38398	9.701.54
	Depreciation and Americation Expenseš€e k	658.80	332.69	大きな ねず き	1,653.19	1.575.09	3 873 38
	Other ExpenseskΛ	1,844.50	1,441.54	2,663.93	4.772.43	7.777.78	10.386.71
	Total Expenses	31.94%.99	30 Tels 64	52.975.60	39,684.23	3 33.662.22	1.74.185.52
Ì	Profit before Share in Profit/ class) inAssociate, Joint Venture and Tax (1-2)	2.147.02	4.496.71	4.832.05	10.057.36	12.4-7.32	16.569.53
	Share in Profit/ (Loss) in Associate,Jeint Venture	5.454.54	3.407.12	2 893 35	9.499.35	10.359.31	20.053.87
爹	Prafit Before Tax (3+4)	7.691.61	8.404.63	$2.262 - 3.8$	19.516.51	22.856.64	34.423.40
÷.	Tux Expanse
	(a) Current tax (brobading Eurlier year Tax Avanten back))	568.74	$63.93	1.092.32	1.339.52	2.127.84	3:033 86
	(b) Deferred Tax	1.329.83	$-259.56$	$\cos 390$	2.273.86	2334 3398	8,659.17
罗	Profit for the Period (S-6)	5.703.84	6.62% 52	8.676.48	15.483.93	89.443.64	23.340.27
案	Other Comprehensive Income (OCI)
	(a) limits that will not be re-classified to Profit or Lons.	295.84	225.29	438.31	1.493.62	45.423.05%	:1363 994
	(b) Taxes relating to the above nems	120.841	$+24.25%$	137.031	125.111	635.62	636.671
	(c) Share in Associates and Joint Venture(Net of Tax)	1,005.02	2.44310	1.245.69	11:542.24	oli 344 475	13.5 433 63 d
	Total Other Comprehensive Income	4.282.97	2.646.14	1.863.88	12,989.75	ડાકા પાટે પા ખાંદારી	129.136.534
Ý	Total Compethensive Income for the Period(Net of Tax) (7+8)	9.584.01	9.575.66	8.340.33	28.393.68	12.883.76	3 803 74
to 1	Pand-up Equity Share CapitaltFace value of ₹ 104 per Share}.	1.185.89	1.1834%	1.1a5 ou	1,185,09	1.385.000	第13条35 Robe
王王 言	Other Tiques						2.39.967.23
12	Basse & Difused Carting For Share (7).(Foot announced)	48.12	53.94	56.54	129.93	168.64	200 33

$\langle$

$\tau$ on $\tau$ density involuntar

$\mathcal{A}^{\mathcal{A}}$

$Cend - 2$

CONSOLIDATED SEGMENT-WISE REVENUE, RESULTS, ASSETS AND LIABILITIES
--------------------------------------------------------------------	--

							It is takker
SI.	Perticulary	Quarter Ended			Nine Months Ended	Year Unded
Na.		31.12.1926tlasadised: İ	NO 679 2020flowadded:	31 12 2019(Immediai)	31.12.2828:Unsmitted:	有 12.2019(Unumberd)	31.03.2020(Auditec)
à	Newment Revenue
	Cambro6dek	3.314.08	$921.08	11.552.77	12.543.26	33.839.8%	45 136 198
	Emprovering, Procurement & Complete twoe de s489925	24,778.79	2.5 1 8 pm 393	4733373	73.841.57	$15,627.13	1.54.472.69
	Texas	54.585.87	33.637.58	58388.50	26.384.83	3.91.376.13	1,993,589.398
	Less Inten-Segment Revenue	369.94	84% 85	35438.63	1.335.59	单加线磁管	EE 259 NB
	Total Revenue from Operations	33.715.92	12.88 19	97.329.87	82,549.24	1:43:430.52	133.389.38
$\mathfrak{T}$	Segment Results
	Scottent Profit before Tex and Interest
	Cables1.363	722.6%	979.73	3.842.49	2.645.57	医壁缝术系	6.982.2
	KitsEngineering Procurement & Construction:d PC)	2.883.42	2.329.3%	$-3.432$ Ma	8.747.34	15.54% 96%	18.099.97
	Intel	3.525.50	3,307.30	205479	10.802.91	18.643.55	28.162.396
	Less Interest (Ness	(1.278, 144)	学员 医雷尔 微粒體	(2,3897.23)	(4,321.53)	13 WB 301	37.595.838
	Add Other Unallocable Income Net ofUnaffective Experience	5.354.27	系属副 袋魚	2.65432	11:135.13	4年前3月1日	劉智 投票券 多温
	Total Profit hefore Tax	7.497.68	B doubled in	$2 , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , \frac{1}{2} , $	19.514.51	22. seks sik	36,433,49
Ã.	Segment Assets
	Cablesé a l		35.770.04		41.249.18	33398.361	38.378.58
	t bisEmpresseng, Procedement & Construction$-100000$		E SE GROUPE		1.75.487.57	2.32.77%.70	2.05.465.37
	TekUnalimeted Corporate Assets		2.47.943.06		2.58.321.83	3.92.384.45	2.28.837.44
	Total Amets		4.57 836 23		1.75.058.58	4.39.229.33	4.72.579.39
$\hat{\mathcal{X}}$	Segment Liabdities
	Calvier3.8 0Engineering, Procurations & Construction45.5		4.852.31		11.750.4%	1767273	学会議会
	OPES		67.328.60		68.553.13	93.863.03	85.237.10
	Unattecated Commune Lubditureist.		1.33.280.24		1.34.394.69	98.255.09	2,33,026.43
	Total Liabilities		2.05,460.95		2.06.697.29	1.88,690.63	2 38-429-16

$\frac{\mathcal{X}}{\mathcal{X}}$

$\sim$ 1000 $\pm$

$\mathsf{Cord}(\mathbb{C})$

$\left{2\right}$

Netes:

• $\mathbf{k}$ Pursuant to the requirement of SEBI (Listing Obligations and Discholare Requirements) Regulations. 2015 (as amended), the above Unaudited Consolidated Financial Results were reviewed and recommended by the Audit Committee and approved by the Buard of Directors at their respective meetings held on 12th February, 2021. The Statutory Auditors of the Company have carried out a limited review of the Unaudited Consolutined Financial Results for the quarter and nine months ended 31st December, 2020.
• 2 The Holding Company has assessed the impact of COVID-19 pandemic on its financial results/position and as per the current assessment, it expects to recover the carrying amount of inventory, trade receivables and other assets. However, the eventual nutcome of the pandemic may differ from that estimated as at the date of approval of these interim financial results.
• ž The figures of the previous periods are re-dessified rearranged, wherever necessary, to correspond with the current period's classification and disclosure

For VINDHYA TELELINKS LIMITED

W. William

Date: : 12th February, 2021

an an

THARSH V. LODHAI CHAIRMAN DIN: 00394094 SINGAPORE

$\left[\mathcal{M}\right]$

Review report on Unaudited Consolidated Financial Results of Vindbya Telelinks Limited pursuant to regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Ya the Board of Directors of Vindbva Tetelinks Limited

• 1. We have reviewed the accompanying statement of unaudited Consolidated financial results (the Statement") of Vindhya Telelinks Limited (the Holding Coompany"), ite subsulianies (the Hokling company and jis Subsidiaries together referred to-as "the Group"), its joint venture and associates for the quarter and nine months ended December 31, 2020, being submitted hy the Holding Company pursuant to the requirements of regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements} Remnlations, 2015, as amended.
• 1. We draw attention fo the fact that the correspanding consolidated finaneial results for the quarter and nine months ended December 31, 2019 and for the year ended March 31, 2020 ("together referred to as the corresponding consolidated financial results"), prepared in accordance with the recognition and measurement principles laid dewn in Ind AS included inthe Statement have been reviewed/audited by the predecessor auditor whe had reviewed/audited the consolidated financial results for the relevant periods and expressed an unmodified opinion as per the reports dated February 7, 2020 and June 1, 2020 respectively.
• 3.. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 4, "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 123 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
• 1. 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("ICAI'). A review of interim financial information consists of making inquiries, primarily of the company's personnel responsible for financing and accounting matiers, and applying analytical and other review procedures, A review is substantially less in scope than audit conducted in accordance with standards of auditing specified under section 143/10) of the Compames Act, 2013 and consequently, does not.cnable 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. We also periorm procedures in accordance with the circular issued by the SERIE under Regulation 33 (8) of the Listing regulation, to the extent applicable.
• 4S. The statertient inchades the results of the following eniities:
  • August Agent Limited (Wholly Owned Subsidiary)
  • Insiloo Agents Limited (Wholly Owned Subsidiary).
  • Laneseda Agents Limited (Wholly Owned Subsidiary). PO SF
  • Birla Visaboira Private Limited (Joint Venture)
  • Universal Cables Limited (Associate)
  • Birla Corporation Limited (Asseciate} RMF
    • Punjab Produce Holding Limited (Associate)

Raj Tower-l, G-1, Alaknanda Conenunity Center, New Dethi -110 619. Ph: 91 11 2602 3140

Gurugram Jaipur Noida Udaipur e-mail soc GSTN: O7AAAFBOO28K IZW

• 1. Based on our review conducted as above, nothing has come to our attention that causes ts to believe that the accompanying Statement of unandited Consolidated financial results prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian and other accounting principles gerierally accepted in India has not disclosed the information required to be disclosed in term 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 did not review the financial résulis of three subsidiaries included in the Statement, whose financial resulis reflects total revenue of Rs. 348.46 lakhs. total profit after tax of Rs. 258.48 lakhs and total comprehensive income of Rs. 253.48 lakhs-for the quarter ended December 31, 2026, as considered in the Statement. These nancial results have been reviewed by the other auditors whose reports have been furnished to us by the Management and our opinion on the Statement, in so far as it relates to the amounts and disclosures. included in respect of these subsidiaries, is based solely on the reports of the other auditors.

Our report is not modified in-respect of this matter.

1. We did not review the financial results of two associates included in the statement whose Group's share of profit. after tax of Rs. 4070.67 lakhs and total comprehensive income of Bs. $470.90 lakhs for the quarter ended December 31, 2020, has been considered in the Statement. These financial results have been reviewed by the other auditors whose reports have been firrnished to us by the Management and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these associates, is based solely on the reparts of the other auditors.

Our report is not modified in respect of this nutter,

1. We did not review the financial results of one joint venture and ene associate included in the statement whose Group's share of profit after tax of Rs. 6.76 lakhs and total comprehensive income of Rs. 2614.56 lakhs for the quarter ended December 31, 2020, has been considered in the Statement. These financial results furnished to us by the management and have not been subjected to review by respective auditors Our reporting on the Siatement, in so far as it relates to the amounts and disclosures included in respect of these joint venture and associate, is based solely on such un-reviewed financial results,

Ourreport on the statement is not modified in respectof our reliance on the financial results eertified by the Management

For BGIC & Associates LLLP Chartered Accountants Firm Registration Number: 003304N/NS00056

Pranav Jain

Partner . Membership Number: 09230

UDIN: 210.4% Boe AeA 4 Cagis

Place: New Delhi Date: February (2, 2071