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:
- Un-AuditedFinancial Results of the Company for the second quarter and six months ended September 30, 2022.
- Un-AuditedConsolidated Financial Results of the Company for the second quarter and six months ended September 30, 2022.
- 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 : cs@ksolves.com
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:-
- 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
- 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
- The Company is only having one segment of business i.e. Information Technology Services.
- There are no investor complaints received/pending as on September 30, 2022
- Previous year's/ period figures have been regrouped/ reclassified/ restated, wherever necessary to confirm to classification of current year/period.
-
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 : cs@ksolves.com
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 : cs@ksolves.com
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
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Ksolves India Ltd. published this content on 16 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2022 12:41:58 UTC.