Ksolves India : Dividend

Date: October 16, 2022
To
Listing Compliance	Listing Compliance
National Stock Exchange of India Ltd.	The Bombay Stock Exchange Limited,
Exchange Plaza, Plot no. C/1, G Block,	Phiroze Jeejeebhoy Towers,
Bandra-Kurla Complex, Bandra (E)	Dalal Street,
Mumbai - 400051	Mumbai - 400 001.

Subject: Outcome of the Meeting of the Board of Directors of Ksolves India Limited held on October 16, 2022

Ref: Reg. 30 and Reg.33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

BSE Scrip Code: 543599; NSE Symbol; KSOLVES; ISIN: INE0D6I01015

Dear Sir/Madam

Pursuant to the above-captioned subject, kindly note that the Board of Directors of the Company at its meeting held today on Sunday, October 16, 2022, have inter alia considered and approved the following:

1. Un-AuditedFinancial Results of the Company for the second quarter and six months ended September 30, 2022.
2. Un-AuditedConsolidated Financial Results of the Company for the second quarter and six months ended September 30, 2022.
3. Declaration of Interim Dividend and Record Date: The Board of Directors has declared the 2nd interim dividend of Rs. 4.5/- (Four rupees and fifty paise only) per share for the financial year 2022-23. The 2nd interim dividend declared shall be paid within the statutory time limit to the equity shareholders of the Company, whose names would appear on the Register of Members of the Company on October 27, 2022, being the Record date fixed for eligibility of interim dividend.

This is to further inform you that on account of the Migration of shares from SME to Mainboard exchanges, the Company has implemented Indian Accounting Standards (Ind AS) from the current financial year 2022-23 with the transition date being 1st April 2021.

These are the Company's first interim financial results prepared in accordance with Ind AS as notified under the Companies (Indian Accounting Standards) Rules, 2015, and rules thereunder as amended from time to time.

In respect of the aforementioned approved items, please find enclosed herewith:

1. Un-audited Standalone Financial results and Un-audited Consolidated Financial Results for the second quarter and six months ended September 30, 2022, along with the Limited review reports thereon.

2. Key Highlights of Financial results Q2 FY 2022-23,Annexure-I (enclosed).

5:35

The said meeting commenced at 5:00 p.m. and concluded at ____ p.m.

Further, the Trading Window for dealing in its securities shall remain closed until 48 hours from this announcement. The same is being duly communicated to all the Designated Persons.

A copy of the above result and other enclosures is being also made available on the Company's website i.e., www.ksolves.com

This is for your information and records.

For Ksolves India Limited

MANISHA KIDE

Digitally signed by

MANISHA KIDE Date: 2022.10.16 17:40:23 +05'30'

Manisha Kide

Company Secretary & Compliance Officer

KSOLVES INDIA LIMITED

(Formerly Known as Ksolves India Private Limited)

CIN - L72900DL2014PLC269020

317/276, Second floor, Lane no.3, Mehrauli Road, Saidulajab, Saket, South Delhi, New Delhi - 110030 India

Website - www.ksolves.com; Email : [e-mail]

Statement of Unaudited Consolidated Financial Results for the Quarter & Half Year ended on September 30, 2022 Pursuant to regulation 33 of SEBI (LODR) Regulation, 2015

							(Amount in Lakhs)
		Quarter ended on	Quarter ended on	Quarter ended on	Year to date figures	Year to date figures	Year to date figures
		for year ended on	for the year ended	for the previous year
	Particulars	30/09/2022	30/06/2022	30/09/2021
	30/09/2022	30/09/2021	ended 31/03/2022
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	INCOME FROM OPERATIONS
I	Revenue from Operations	1850.26	1651.23	1070.22	3501.49	2064.22	4,706.86
II	Other Income	5.79	11.20	7.60	16.99	81.17	126.53
III	Total Revenue (I+II)	1856.05	1662.43	1077.82	3518.48	2145.39	4833.39
IV	EXPENSES
	Cost of Material Consumed	-	-	-	-	-	-
	Purchase of Stock in Trade	-	-	-	-	-	-
	Change in inventories of Finished Goods, Work-in-progress & Stock in	-	-	-	-	-	-
	Trade
	Employee Benefit Expenses	806.74	737.78	469.72	1544.52	857.59	2050.54
	Finance Cost	-	-	0.11	-	0.26	0.32
	Depreciation &Amortization Expense	12.68	14.79	13.25	27.47	25.00	49.07
	Other Expenses	234.27	200.85	149.89	435.12	287.19	642.02
	Total expenses (IV)	1053.69	953.42	632.97	2007.11	1170.05	2741.96
V	Profit before Exceptional & Extraordinary Items and tax (III-IV)	802.36	709.01	444.85	1511.37	975.34	2091.43
VI	Exceptional Items	-	-	-	-	-	-
VII	Profit before Extraordinary Items and tax (V-VI)	802.36	709.01	444.85	1511.37	975.34	2091.43
VIII	Extraordinary Items	-	-	-	-	7.49	-
IX	Profit before tax (VII-VIII)	802.36	709.01	444.85	1511.37	967.86	2091.43
X	Tax Expenses
	1 Current Tax	211.39	190.02	109.91	401.41	225.25	512.93
	2 Deferred Tax	(0.62)	(10.23)	0.88	(10.85)	(6.82)	(10.90)
	Total Tax Expenses (X)	210.77	179.79	110.79	390.56	218.43	502.03
XI	Profit/(Loss) for the period from continuing operations (IX-X)	591.59	529.22	334.06	1120.81	749.42	1589.39
XII	Profit/(Loss) from discontinuing operation	-	-	-	-	-	-
XIII	Tax Expenses of discontinuing operations	-	-	-	-	-	-
XIV	Profit/(Loss) from discontinuing operation after tax (XII-XIII)	-	-	-	-	-	-
XV	Profit(Loss) for the Period (XI+XIV)	591.59	529.22	334.06	1120.81	749.42	1589.39
XVI	Other Comprehensive Income
	Items that will not be reclassified to profit or loss
	- Remeasurement Gains/(Losses) on Defined Benefit Plans	-10.76	-10.02	-2.16	-20.78	-3.92	-16.80
	- Income Tax on above	2.71	2.52	0.54	5.23	0.99	4.23
XVII	Total Other Comprehensive Income	-8.05	-7.50	-1.62	-15.55	-2.93	-12.57
XVIII	Total Comprehensive Income for the year	583.53	521.72	332.44	1105.26	746.49	1576.82
XIX	Paid up Equity Share Capital	1185.60	1185.60	1185.60	1185.60	1185.60	1185.60
XX	Reserves & Surplus	638.80	1003.74	362.98	638.80	362.98	482.02
XXI	Earnings per equity share
	(1) Basic	4.99	4.46	2.82	9.45	6.32	13.41
	(2) Diluted	4.99	4.46	2.82	9.45	6.32	13.41

Notes:-

1. The above Consolidated Unaudited Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meeting held on October 16, 2022
2. The Statutory Auditors of the Company have carried out the Limited Review of the above financial results of the Company and have expressed an unmodified opnion on these Results
3. The Company is only having one segment of business i.e. Information Technology Services.
4. There are no investor complaints received/pending as on September 30, 2022
5. Previous year's/ period figures have been regrouped/ reclassified/ restated, wherever necessary to confirm to classification of current year/period.
6. The Company has implemented Indian Accounting Standards (Ind AS) from the current financial year 2022-23 with the transition date being 1 April 2021. Accordingly, all conseqnetial impacts have been accounted in retained earnings on account of this implementation. These are the Company's|first interim financial result prepared in accordance with Ind AS as notified under the Companies (Indian Accounting Standards) Rules, 2015 and rules thereunder as amended from time to time. Figures for the respective commparative period have been restated, wherever applicable. Details of Ind AS adjustments are as under:
   Reconciliation of Consolidated Statement of Profit & loss:

			For the Half Year
Particulars	For the Quarter Ended	Ended	For the Year Ended
	30.06.2022	30.09.2021	30.09.2021	31.03.2022
Profit After Tax As per Indian GAAP	515.33	330.69	741.06	1572.79
Add/Less : Ind AS Adjustment :
Increase/(Decrease) in Deferred Tax Assets	2.52	-0.14	1.73	-1.36
Increase in Tax Impact on OCI	2.52	0.54	0.99	0.00
Decrease in Share Issue Expenses	1.35	1.35	2.71	5.39
Total Comprehensive Income As per Ind AS	521.72	332.44	746.49	1576.82

For Ksolves India Limited

ratan kumar srivastava

Digitally signed by ratan kumar srivastava

Date: 2022.10.16 17:47:49 +05'30'

Ratan Kumar Srivastava

Chairman Cum Managing Director

DIN : 05329338

Place : Delhi

Date : October 16, 2022

KSOLVES INDIA LIMITED

(Formerly Known as Ksolves India Private Limited)

CIN - L72900DL2014PLC269020

317/276, Second floor, Lane no.3, Mehrauli Road, Saidulajab, Saket, South Delhi, New Delhi - 110030 India

Website - www.ksolves.com; Email : [e-mail]

Consolidated Statement of Assets & Liabilities as on September 30, 2022

	(Amount in Lakhs)
Particulars	As at	As at
30th September 2022	31st March 2022
	Unaudited	Audited
I. ASSETS
(1) Non-Current Assets
(a) Property, Plant and Equipment	102.52	100.80
(b) Intangible Assets	5.99	5.99
(c) Financial Assets
(i) Investments	-	-
(ii) Other Financial Assets	11.50	17.02
(d) Deferred tax Assets (Net)	36.72	25.87
(e) Other Non Current Assets		-
Total Non Current Assets	156.73	149.68
(2) Current Assets
(a) Inventories
(b) Financial Assets
(i) Trade Receivables	1,169.99	925.69
(ii) Cash and Cash Equivalents	629.97	689.50
(iii) Bank balance other then cash equivalents	3.37	4.90
(iv) Other Financial Assets	18.97	27.08
(c) Other Current Assets	502.54	571.60
Total Current Assets	2,324.85	2,218.77
Total Assets	2,481.58	2,368.45
II. EQUITY AND LIABILITIES
(1) Equity
(a) Equity Share capital	1,185.60	1,185.60
(b) Other Equity	638.80	482.02
Total Equity	1,824.40	1,667.62
(2) Liabilities
(A) Non-current liabilities
(a) Financial Liabilities
(i) Borrowings	-	-
(ii) Other Financial Liabilities	-	-
(b) Provisions	101.78	67.07
Total Non Current Liabilities	101.78	67.07
(B) Current liabilities
(a) Financial Liabilities
(i) Borrowings
(ii) Trade Payables
Total Outstanding dues of Micro Enterprises and Small Enterprises	-	4.32
Total Outstanding dues of Creditors other than Micro Enterprises and Small	53.37	52.49
Enterprises
(ii) Other Financial Liabilities	6.29	14.36
(b) Provisions	417.60	512.65
(c) Other Current Liabilities	78.14	49.94
Total Current Liabilities	555.40	633.76
Total Equity and Liabilities	2,481.58	2,368.45

Ratan Kumar Srivastava

Chairman Cum Managing Director

DIN : 05329338

ratan kumar srivastava

Digitally signed by ratan kumar srivastava

Date: 2022.10.16 17:48:56 +05'30'

Place : Delhi

Date : October 16, 2022

KSOLVES INDIA LIMITED

(Formerly Known as Ksolves India Private Limited)

CIN -L72900DL2014PLC269020

317/276, Second floor, Lane no.3, Mehrauli Road, Saidulajab, Saket, South Delhi, New Delhi - 110030 India

Website - www.ksolves.com; Email : [e-mail]

Consolidated Statement of Cash Flows for Half Year Ended on September 30, 2022

(Amount in Lakhs)

		For Half Year Ended on
		30.09.2022	30.09.2021
	Cash flows from operating activities
	Profit before taxation	1,511.37	967.86
	Adjustments for:
	Depreciation	27.47	21.55
	Provision for Gratuity debited to Profit & loss	18.57	5.28
	Finance Cost	-	0.26
	Investment Income	(11.86)	(78.71)
	Working capital changes:
	(Increase) / Decrease in Trade Receivables	(244.30)	(439.61)
	(Increase) / Decrease in Financial Assets/Other Current Assets	78.69	97.53
	Increase / (Decrease) in Trade Payables	(3.44)	(6.52)
	Increase / (Decrease) in Financial Liabilities/Other Current Liabilities	20.13	19.77
	Increase / (Decrease) in Short Term Provisions	-	0.51
	Cash generated from operations	1,396.63	587.92
	Payment/Adjustmen on Account of Tax Expenses	495.88	310.50
	Net cash from operating activities	900.75	277.42
	Cash flows from investing activities
	Purchase of property, plant and equipment	(29.19)	(24.20)
	Increase in Other Financial Assets (Non Current)	5.52	24.00
	Investment income	11.86	78.71
	Increase in Non Current Investments	-	(0.06)
	Net cash used in investing activities	(11.81)	78.45
	Cash flows from financing activities
	Finance Cost	-	(0.26)
	Repayment of Borrowings	-	(4.59)
	Proceeds from Issue of Share Capital	-	-
	Proceeds from Security Premium	-	-
	Payment of Interim Dividend	(948.48)	(512.60)
	Net cash used in financing activities	(948.48)	(517.45)
	Net increase in cash and cash equivalents	(59.53)	(161.59)
	Cash and cash equivalents at beginning of period	689.50	808.92
	Cash and cash equivalents at end of period	629.97	647.34
	For Ksolves India Limited

ratan kumar srivastava

Digitally signed by ratan kumar srivastava

Date: 2022.10.16 17:49:31 +05'30'

Ratan Kumar Srivastava

Chairman Cum Managing Director

DIN : 05329338

Place : Delhi

Date : October 16, 2022