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Ksolves India : Dividend
Ksolves India :
About this update from Ksolves India Ltd
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-Audited Financial Results of the Company for the second quarter and six months ended September 30, 2022. Un-Audited Consolidated 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 2 nd interim dividend of Rs. 4.5/- (Four rupees and fifty paise only) per share for the financial year 2022-23. The 2 nd 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 1 st 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 : [email protected] 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 : [email protected] 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 : [email protected] 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. 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