~ S/.\/.\.R/.

\
"'- ~ S MART LED LIGHTIN G S O L UTI O NS SER ~TEC
sm•rt power solutlons

7th May, 2023

To,
National Stock Exchange of India Limited
Exchange Plaza, NSE Building
Bandra-Kurla Compex,
Bandra (E), Mumbai-400051

Trading Symbol: SERVOTECH

Sub.: Outcome of Boa rd Meeting

Dear Sir /Madam,

The Board of Directors of Servotech Power Systems Limited ("Company"), upon recommendation
of its sub-Committees, at its meeting held on 7th May, 2023 have inter-alia considered, approved
and taken on record the following:

i. Audited Financial Results for the quarter and financial year ended 31st March, 2023 along
with Statement of Assets and Liabilities and Cash Flow Statement of the Company for the
year ended 31st March, 2023, duly recommended by the Audit Committee in its meeting held
on 6th May, 2023, pursuant to Regulations 30 and 33 of the Listing Regulations and the same
is attached herewith;

ii. Auditors' Report on Financial Results of the Company for the quarter and year ended 31st
March, 2023 issued by M/s. Rohit KC Jain & Co., Chartered Accountants Statutory Auditors
and the same is attached herewith; and

iii. Declaration on Auditors' Report with unmodified opinion under Regulation 33(3)(d) of the
Listing Regulations with respect to Audited Financial Results for the quarter and year ended
31st March, 2023 and the same is attached herewith.

The aforesaid information may be treated as relevant disclosure as required under Regulation 30
or any other applicable provision of SEBl (Listing Obligations and Disclosure Requirements)
Regulations, 2015.

The meeting commenced at 03:00 P.M. (IST) and concluded at 3:35 P.M. (IST).

Thanking You,

FOR SERVOTECH POWER SYSTEMS LIMITED

Servotech Power Systems Limited

CIN: L31200DL2004PLC129379
REGISTERED OFFICE: 806, 8th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
... PLANT AND R&D : 76A, S_~Qtor-57,K!Jndli Industrial Area,_Sonepat, f:laryana. 13'.I 028 ... . ·· ·-- ..
or; "
~
SA/.\RA
SMART LED LIGH T ING SOLUTIONS SER smart power solutions

SERVOTECH POWER SYSTEMS LIMrTEO

Registered Office: 806, 8th Floor, Crown Heights, Crown Plaza, Sector-10, Rohinl, New Delhl-110085
CIN:- L312DODL2004PLC129379, Email: h1voC11lor, reln l fons@'1iervo t~e:hfndla. com

~ L!D ATEll [JNANC!Al..Bf:§i.MS fOR Tt! E QUARTER AHO YEAR ENDED END® 3!ST MARC!! 21!23

(Rs. In Lacs)
Quarter Ended Year Ended
Sl, No. PARTICULARS 31 March 2023 31 December 2022 31 March 2022 31 March 2023 31 March 2022
Audited Un-Audited Audited Audited Audited

1 Total Income
a) Re•·enue from operali0m; 11 .530 67 B,327 43 s.100.37 20,956 99 14,3G7 39
b) Olhcr income 467 49 306 27 4.21 907 34 57 86
Total Revenue 11 ,998 .15 8 ,635.70 5,110.58 27,864,33 14,425 25
2 Expenses
a) Cost cf materials consumed 10,289 60 6.893 14 4,4!j8 05 23,62L76 12.341.17
11) Purchase of Slock-in- 1rade .
c) Changes in 1nventones or fm1shP.d goods, wor!Hn·
-5 38.02 274 90 es 2e ·59 1-42 142 84
ln..-.D'l,t And Stcid'dl\-lm.da
d) Em_
oloyee benefits expense 279.09 234.59 186.99 970 89 541 15
e} Finance costs 72.48 54.78 53.00 238 26 244 93
fl Oeproci<1lm11.rirr.ortisalion and unpainnent expen~e 58.75 38.1 3 51 48 212 8~J 157.79
h) Other expens(IS 1.063.56 G20.9T 94 20 1.968 23 433 36
Total expenses 11,225 46 S,116 51 4,928 98 26.420 61 13.861 25
3 Profit before exceptional ilems and lax (1-2) 772.70 519.19 181.60 1,443.72 56<4.00

4 Exceptional Hems 5 OG . M6
5 Profit Before Tax (3·4) 772.70 519.19 176.54 1,443 .72 558.1'4
6 Income 1ax ExpensA : 167 23 131.77 45 87 3:1721 153 18
aj Curren! tax 188.24 130 98 41 .75 357 44 140 35
b) Deferred lax -20.18 ·0.04 2.84 -20. 22 2 84
c ) CSR Expenses
d) lni;ome Tax of Earlier Years -0 83 0.83 1.28 0 99

7 Profit (Loss) for the period (5-6) 605.47 387.42 130.67 1,106.51 405.77
A1trlbuL1hht lo
0 Sh11nltlOldc1"11 cf thil COlnOQIW 60397 3!1U.ll 129 95 1 HM .Oe 403.60
b) Non Con lrollin<l Interest 1.50 1. lft o.n - 2 43 1.97
a Othar Comr>Jl!lh"'1\&J1M lnconJ.H lo95 1.81 0.75 2-35 0 75
ii hiama U'lal wlU l lnL'bo toclili-ti:lfllftd tocucht orloli'i 2.61 1.00 3, 16 l.00
b} Income tax relaling to items thal will nol be
rod as~if'9d to .crc li l ot loss
0. 79 0 25 0:19 0.25
9 Total Comprehensive Income ror the period ("f+8) 60'/.29 387.42 131.42 1,108 86 406.51
Alltibutablo 10
n\ Shamhc.~.d illll oJ ttui C<Mntu1nv 60!>.10 3B6.3S l3~./0 UOG.~~ 404 .54
b N011 CDn:lmllint1 lntere!I 15'1 1.10 0.72 1.43 1.~7
Paid-Up Ef'luity Shure Capil<JI ( Face Value or Share
10 2.126.54 2.126.54 1,066.54 2,126.54 1,866.54
Rl\.2/-l
11 Olher EQuity
12 Earnings per equity share (of Rs 2/- each) nol
ann ualised .!'
(1)Basic(@) 0.57 0.38 0.14 1.04 0 .43
(2) muted (@) 0.61 039 0.13 1.11 0 41

For end on behalf of board of Direclo<S

Sor1rotoch Power S111tom• Llmllod

RAMAN Digitally signed by RAMAN BHATIA

DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345eaf26be73724cf8
31908ac2f70a1f9a6bc, postalCode=110085, street=PLOT NO
G-8/31 2ND,3RD FLOOR SECTOR-11 ROHINI BLK G PKT 8 Rohini

BHATIA
Sec-11 Rohini Sector-7,
pseudonym=ad81318e77de64dca312554bdccbdf35,
serialNumber=2712cd863db2482c834a81335afec5aa9058b225
d3c1d2f5f29ba5116327a90d, o=Personal, cn=RAMAN BHATIA
Date: 2023.05.07 15:45:42 +05'30'

Raman Bhatia
Managing Director
DIN: '00153027

Date: 07.05 2023

Place: New Dell1i

Servotech Power Systems Limited

CIN: L31200DL2004PLC129379
REGISTERED OFFICE: 806, 81h Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
PLANT AND R&D : 76A, Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028
 Notes to the Consolidated Audited Financial Results

1. The above results have been reviewed by the Audit Committee and approved by the Board of
Directors at their respective meetings held on 6th May 2023.

2. The Figures of the quarters ended 31st March, 2023 and 31st March, 2022 are the balancing figures
between the audited figures in respect of the full financial year and the published year to date
figures up to the end of the third quarter of the relevant financial year. The published YTD figures
up to the end of third quarter of the relevant financial year were subject to Limited Review.

3. The above results comprise the results of Servotech Power Systems Ltd. (Parent Company),
subsidiary companies, (Parent Company and it's subsidiaries together referred as "the Group").
The Statutory Auditors have carried out audit of the above financial results for the quarter and
financial year ended 31st March, 2023 and have issued an unmodified opinion.

4. The financial results of the Group have been prepared in accordance with Indian Accounting
Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013 ('Act') read with
Companies (Indian Accounting Standards) Rules, 2015, as amended.

5. The Board of Director of the Company (Parent Company) in their meeting held on 7th December,
2022 and the members of the Company via Postal Ballot results of which were declared on 13th
January, 2023 had approved the sub-division/stock split of the existing equity shares of the
Company, such that each equity shares having face value of Rs. 10/- (Rupees Ten Only) fully paid
up, be sub divided into S (Five) equity shares having face value of Rs. 2/- (Rupees Two Only) each.

6. Previous periods' figures are regrouped to make them comparable with those of current period,
wherever applicable.

7. Company operates in single segment.

FOR AND ON BEHALF OF BOARD OF DIRECTORS

RAMAN Digitally signed by RAMAN BHATIA
DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345eaf26be73724cf8319
08ac2f70a1f9a6bc, postalCode=110085, street=PLOT NO G-8/31
2ND,3RD FLOOR SECTOR-11 ROHINI BLK G PKT 8 Rohini Sec-11

BHATIA
Rohini Sector-7,
pseudonym=ad81318e77de64dca312554bdccbdf35,
serialNumber=2712cd863db2482c834a81335afec5aa9058b225d3c
1d2f5f29ba5116327a90d, o=Personal, cn=RAMAN BHATIA
Date: 2023.05.07 15:46:02 +05'30'

RAMAN BHATIA
MANAGING DIRECTOR
DIN: 00153827
S/.\AR/.\
SMART LED I GHTIN~ SOLUT IONS SER ~TEC
smart power solutions

SERVOTECH POWER SYSTEMS LIMITED

ClN - L31200DL2004PLC129379
CONSOLIDATED BALANCE SHEET AS AT 31st March 2023
(Rs. in Lacs)
ASAT ASA'!"
31ST MARCH 2023 31ST MARCH 2022
ASSETS
(1) Non-Current Assets
a) Property, Plant and Equipment 3 1,979.53 925.42
b) Other Intangible Assets 3 15.63 35.27
c) Capital Work In progress 2 03
d) Intangble Assets under Development 49.00
e) Investment Property 4 218.93 218 93

c) Financial Assets -
i) Inves tments 4 (0.00) -
ii) Loans -
iii) Other Financial Assets 0 05 -
d) Deferred Tax Assets (net) 5 20.96 0.79
f) Other-Non Current Assets 6 1,140.05 1,418.47
g) Trade Receivables 8 440.92 813.41
3,867.11 3,412.29
(2) Current Assets
a) Inventories 7 2,085.66 1,377 57
b) Financial Assets -
i) Trade Receivables 8 8,556.07 2,765.51
ii) Cash and Cash Equivalents 9 1,194,93 13.87
iii) Other Bank Balances 9 430.31 781.69
iv) Loans - -
v) Other Financial Assets 92.02 -
c) Other Current Assets 6 448.16 589.19
12,807.15 5,527.83
TOT AL ASSETS 16,674.26 B,940.12
EQUITY AND LIABILITIES
Equity
a) Equity Share Capital 10.1 2,126 54 1,866.54
b) Other Equity 10_2 6,090 68 2,761.22
B,217.22 4,627.77
(1) Liabilities
Non-Current Liabilities
a) Financial liabilities
i) Borrowings 11 751.88 648.51
ii) Other Financial Liabilities - -
b) Other Non-Current Liabilities 12 126.90 215.20
c) Deferred Tax Liabilities 5 - -
d) Provisions 13 69 04 36.59
f) Trade Payables 14 738 233.51
955.19 1,133.81
(2) Current liabilities
a) Financial Liabilities
i) Borrowings l1 3,478.50 1,272 00
ii) Trade Payables 14 2,350.31 1,134 53
iii) Other Financial Liabilities 447.98 -
b) Other Current Liabilities 15 821 ,05 616.64
c) Provisions 13 404.02 155.37
7,501.86 3,178.54
TOT AL EQUITY AND LIABILITIES 16,674.26 8,940.12

For and on behalf of board

Servotech Power Systems Limited

RAMAN Digitally signed by RAMAN BHATIA

DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345eaf26be73724cf8
31908ac2f70a1f9a6bc, postalCode=110085, street=PLOT NO
G-8/31 2ND,3RD FLOOR SECTOR-11 ROHINI BLK G PKT 8 Rohini

BHATIA
Sec-11 Rohini Sector-7,
pseudonym=ad81318e77de64dca312554bdccbdf35,
serialNumber=2712cd863db2482c834a81335afec5aa9058b225
d3c1d2f5f29ba5116327a90d, o=Personal, cn=RAMAN BHATIA
Date: 2023.05.07 15:46:22 +05'30'

Raman Bhatia
(Managing Director)
DIN-00153827
Date- 07.05.2023

Servotech Power Systems Limited

CIN : L31200DL2004PLC129379
REGISTERED OFFICE : 806, 3th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
PLANT AND R&D: 76A, Sector-57, Kundli Industrial Area, Sonepat, Haryana- 131028
S/.\AR/.\
Li-'D
SMART LIGHTING SOLUTIONS SER smart power solutions

SERVOTECH POWER SYSTEMS LIMITED

CIN - L31200DL2004PLC129379
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2023

( Rs. In Lucs)
FOR 1 ME Y,EA.R ron 'rl-IE VF.AR
PARTICULARS liNDlill OED
31st MARCH 2023 31st MAJlCFf 21l22
A. CASH FLOW FROM OPERATING ACTIVITIES

Net Profit before tax 1,443.72 558.94

Adjustments For:
Depreciation and amortization expense 212.89 157 79
Other Comprehensive Income 2.35 -
Non controling Interest 8.08 -
Dividend Paid 42.53 -
Finance Costs 238.26 244.93
Interest received (10.64) (21 .07)
Operating Profit before Working Capital Changes 1,937.19 940.59
Taxes paid (Net) (367.84) (1 5..'U7)
1,569.35 787.42
Adjustments For Working Capital :
Inventories (708.09) 148.30
Trade Receivabl es & Others (5,123.74) 1,478.85
Other Financial Liabilities, Other Liabilities and Provisions 729.08 (178.20)
Trade Payable & Others 989.64 (975.68)
Increase/ (Decrease) in sundry creditors and other liabilities 116_10 (510.11)
Cash generated From Operating Activities (2,427.66) 750.58

B. CASH FLOW FROM INVESTING ACTIVITIES

Purchase of fixed assets (1,298.38) (261.24)
Other/Interest Income 10.64 21.07

Net Cash Generated from (used in) Investing Activities (1,287.74) (240.17)

C. CASH FLOW FROM FINANCING ACTIVITIES

Payment Towards Leased Laibility - (52.60)
Proceeds for Issue of Shares Capital 358.00 36.25
Other Adjustment (42.53) (45.47)
Repayment/Proceeds for Loan 2,309.87 (37.98)
Finance Cost (238.26) (244.93)
Share Premium Account including Reserves 2,158.00 290.54

Net Cash Generated from (used in) Financing Activities 4,545.08 (54.19)

I Total increase (decrease) in cash and cash equivalents during the year 456.22
(A+B+C) 829.68
II Cash and cash equivalents at beginning of year 795.56 339.34
III Cash and cash equivalents as at end of the year (!+II) 1,625.25 795.56

For and on behalf of board

Se1votech Power Systems Limited
Digitally signed by RAMAN BHATIA

RAMAN
DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345e
af26be73724cf831908ac2f70a1f9a6bc,
postalCode=110085, street=PLOT NO G-8/31
2ND,3RD FLOOR SECTOR-11 ROHINI BLK G PKT
8 Rohini Sec-11 Rohini Sector-7,

BHATIA
pseudonym=ad81318e77de64dca312554bdcc
bdf35,
serialNumber=2712cd863db2482c834a81335af
ec5aa9058b225d3c1d2f5f29ba5116327a90d,
o=Personal, cn=RAMAN BHATIA
Date: 2023.05.07 15:46:45 +05'30'

Raman Bhatia
(Managing Director)
DIN-00153827
Date- 07.05.2023

Servotech Power Systems Limited

CIN: L31200DL2004PLC129379
REGISTERED OFFICE : 806, 8th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi - 110085
PLANT AND R&D : 76A, Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028
INl>EPf:Nl>E~T Alil)ITOll'S REPORT 01" Al'lllT OF CO~SOLIDATEJ> ~ J'l,\'i( I.\ L
RESl:LTS TO THE BOARD OF l>IRECl-ORS OF SJo:IWOTf.CH POWER SY~TE\f'.
LIMITED
Opinion

Wt: have audited the <r;;companying Statement l•f Consolidated hnandal Rc;1d1-, r.•t
SERVOTECH PO\\IER SYSTEMS Ul\llTED (the "Compan) "), for the qu•iner <1nd year
ended 11r..:h 31, 2023 (the ·'Stalc1l\\:111"). b(:ing suhmineJ h} the C mpan) pursuan1 1,1 th<!
rccp1ircr:'cn1 of Regulation 33 of the rBt (Listing Ubl! atil111:. and Disclosure Rl!quircmcnts;
Rcgulat!Orl$, 2015, as arncndcd (the ''l ,isting Regulotions").
In our opinion a11d to lhc best of our infom1atitm and according 10 the explanation~ gl \en l<~ LI'-, the
Statement~

(i) includes the results ~·fthc subsidinrie;-. as gi,cn in the Annexure t<.1 this repo11:
(ii) is presented in accordance with the m1uircments of Reg1alatinn 33 of the Listing
Regulations; and
(iii) Gives a true and fair view in confonnity with lhe ~cognition and measurement principles
laid down in the Indian Accounting Standards ("Ind AS") and other accounting prin.;iples
g,enernlly accepted in Indiu <)f the con sol idatcd net pro lit and con ,~olidaied total
comprehensive i11comc and oth~r financial infonnation or1he Group for the quartc:r and ~car
ended M11rch 31. 2023.
Basis for Opinion
We c-0nductcd our audit i11 accordance with the Standards on Auditing ("SA''sl spccifo:d 11ni.kr
Section 143( 1O)of the Act. Our responsib!lllics under those Standards arc further described in the
Auditor's Responsibilities for the Audit of the Consolidaled FinnnciaJ Results scctl~in of our
report. We are indepcndcnl of the Group in accordance with lhe ode of Ethks issued b~ the
Institute of Chancml Accountants of India (the "IC Al") togi;:1her with the ethical re'tuirements
that are relcvanl to our audil of lhe Consolidated Financial Results undcrthe pro,·isions of thi:: Act
and the Rules thereunder, and we have tUlfilled our other ethical responsibilities in accllrdance
with these requirements and the IC/\l's Code of Ethics. We bc\icH~ that the audit ~viJencc obtained
by us is sufficient und approprlntc to provide a basis for our audit oplnion.
Management's Rt'SlJonslhllities for the Consolidated Fi11anci1d Rc.,ults
This Statement which includes co11!.olidatcd finnnciul results is the n:sp .msihilit> ,,f 1hr:
1

Company's Board otUircctor!i and has been approved by them fi.)r the issuani.:c. The Su11emc1\t ha"'
been compiled frt)nl the audited Interim condensed consolidated finnndal sl11t1.·1m:nts for the 1hn:~
monlh and c 1· ·n led 1.irch l. 20 •.3. This resp msibilil ' incl u h: prcpar rn n and prcsen1.111,,~ 1
of th· C n!i. IiduH:d Fin mi.:inl Jl ·su.lts that gh'e 1 1ruc umJ 11ir 'i~·\\ vf the '' 11 l,HJ1ncd nee pr 111
and consolidated other comprehensive income and other tinancinl inforrmui,10 l11°th1: Ciwur in
• Obtain ,f11 understanding of 1ntcnu! ti11;1111. ial \:ontmls rck\'<rnt to thc ;,iudil in mJcr 1<1 <k,i~-n
uudil prfl\:edun.:<; lhal Life i..1pprl'1pri•1lc in th\: Lirc.um\t;1nccs. bu: not tor rhc p\JrP•Y,:: ,,,.
cx11ressi11g an npinil'll nnthc crti:c.ti\'<:nc$,~ ii! ~uch controls.
• Evaluate the appropriateness l>f ::ii.:rnunting polil.:ics used •md the rcasu:1ahlt.:nc'>'- .~ t
accounting cstimatesrnaJc hy the Bnanl of lJln::ctor'i.
• Eva!ua1e the appro1)riatcncss and rca,onnblcncss uf disdosurcs made b' the Hoard ut
Directors in knns of the r't!i1uircrncnts spi;:i:ified under Regulation 33, of the I :;..twg
Regulatk111s,
• Conclude on the iippropriatcness llfthc Board of Dirct.:tor.-· use of the going concern ba)>1:. d
accountingaod, bused on the audit cvi<lenc.;; obtained. whether a material unccrtaint\ exists
related to events or C(Hulitions lhat may cast ~igniticant doubt on the ability of the c:irnup t<i
comimu: as a going concern. If we conclude that a material uncertainty exists, we arc required
to draw au1:ntion in our auditor's rcr ll1 t~l lhc rt )at d disclosure Jn lhc n, l lit.b.lt:t!
Finan ial Re ulls or, if s u ·h di. losurcs arc inadequate, to modify our o pini" n, r
conclusions are based on the audit evidence obtained up to the date of our auditor's rer1lrL
Howew:r, future events or conditions may cause lhe Group to cease to continue as a going
concern.
• Evaluate the overall presentation. structure and content of the Consolidated Fin11m;ial
Rcsuhs, including the disclosures, and whether the C-0nsolidatcd financial Results repre~ni
the undcrlj•lng tmnsaclion:. ande ..·ents ln a rmmncr thllt achieves fair presentation.
• Perform pro~durc'.'I in accmdance with the circular is~ucd by the SEBI under Regulation
33(8) oftJ1e Listing Reiulations to the exlr:nt upplicabk.

• Ob!ain sutlicient appropriatt audit evidence tegnrding the financial lnfonnation of the
entities within theGroup to express an opinion on the Consolidat¢d Financial Rcsuhs. We re
responsible for the direction, supervision and ~rfonnancc of the audit of tinandnl
inform11tion of such enlilics included in the Consolidated Financial Rcsuh:s of which we 11re
the indcpcndenl au<I it(Jts.
Materiality is the magnitude of misslalctncnts in the Consolidated FirHn~dal Results that.
individual!)' or in aggregate, tnakcs it probable that the ci.:onomlc dcdsinns \_)f a rea..~~mabh
knowledgeable user of the Consolidalcd Financinl Results may be infiucnce1.t \\'e consiJ\"r
quantiustivc materiality and qualitath•c factors in (i) planning the s~oix of our audit \Wfl.. anu in
cvah1ating the results uf our W(lfk; 11ml (ii) h1 c\aluatc: du: effect ofany ifkntilicd misstutcn1cm5 in
the Consolidated Financial Results.
We communiculc with those chnrged with governance of the (\m1pany amt Sll~h other entities
included in the Consolidnlcd Financial Result~ of which v. c 11rc the indcpt'n1.kn1 nuJ1t.us
regarding, among other maU1.m, the pl1mm:d scop.: amt timing of the UlWll unJ signilka111 amht
 I
0 JAIN & CO
1\CCOlJNTANiS

ai:cL1tJ.1r11.·(.· '~ ith 1hc rc.:t>~nititm :md mca<.url'mrn! rri11"iplt:s laid dm' n ;n Ind ,, 'S . r;rc\<.:rir~d 1md<r
St:clt»n I~-' ,,fthc Act, read with rckvaot ruk~ is~m:;.l thereunder and other <11:.:.1.'unlH1¥ prini.:1rk·
p:ncrnll~ ac.:cpted in India and in Cl'tnj1lia111.:c '~ ith Rcgubtinn .n of the Listing Rcgul:uv1 :i~ Thi··
rcs1>Lmsibili1~ ulsn indudcs mainlcnancc ul ar.kq11alc ai::i.::mmting r<:cnrds in aci.:mdancc '"1th th<.:
pro\ isi,,ns otth\." Act ror safcgtmrding {}f the '1'->~C\'> \ll the lirnup imd i(ir prcvcn1ing and detci::1l11g
fraud~ nnd other irregularities; sclcclion and ;1pp!ka1ion uf appropriate accounting pol11.:k'>:
muking judgments and ~stimaks thllt arc rca.scmahlc and prudent; and the r.k'ii1;_tn, implcmentatic•n
•md maintenance ofai.lcqmtlc internal linancialconuols, that were operating ctlccti\dj for en..,urinf!
1hc accuracy an-d completeness or the <l\:\:l)\H11tnb: record!>, relevant to the preparation and
presentation of the respective financial rcsul!~ lhi\t give a crue and fair view and are free from
material missta1eme11t, \\ hethcr due to lhrnd or error, which have been us.ed for the purposi:: ef
preparation of this Consolidated Financial Re~ulls by the Directors of the Company, as at<•tesaid.
ln preparing the Consolidnlcd financial Rc~uh.s. the re~pective Boards of Directors l)f the
companies indudc:<lin the Group arc rcspons.ible for a~'iessintt the ability of the r<:$pc~ti;·c cntitie~
l'-l continue as a gt,ing concern. disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless 1he respective Boards of Directors eicher
intend to liquidate their respective entities or to cease opcrntions. or have no realistic altcmati'c
but to do so.
The respective Boards of Dir~tors of the compm1ies included in the Group arc responsible for
overseeing thefinancial reporting rm.icess of the Group.

Auditor's R~spousibilities for the Aud if of the CommHdated Financial R\."5U Its
Our objectives are to obtain reasonable assunmce about whether the Consolidated Finaru:ial Results
as a whole, are free from material misstatement. whether due 10 fraud or ermr, and to issue an
auditor's report that includcsout opinion. RcaSl)l\abk as~urance is u high lc\'el of assurance. but is
nol a guarantee that an audit conducted in accordanci: wich SAs \\ill ah\a~s det~t a material
misstatcmenl when it exists. Misstatement~ can ttrisc from fr.1ud or error and arc con..~iden:d
material H: individually or in the aggregate, they ctiuld reasonably be cxp<:c\cd to int1uen..:c the
e<::onomic decisions ofusers taken on the basis of this Consolidated Financial Results.
A~ pan of an audit in accordan.;c with SAs., \\C exercise profossional judgment and maintain
professional skepticism throughout 1he nudiL We als~J:
• Identity and assess the risks of matcriul mis~t.atcment of the Consolidated 1-'inancial Re~mlts,
whclner due lo fraud or error, dcsigrt and pcrl(11m uudit procedures responshe lo those risks..
and obtain nudh evidencclhut is sufficient and appropri1ue 10 JllXWidc 11 !;\;to.is for our ~'pimon.
The risk or not detcctin1:1 a muteri1ll ti\ issrnh:mcnt n:sulting fl\lll\ lraud is higher thi.m for t)llC
tcsulting from error, lb frullll lllil) inn1ln: collusi,,n, frir~cry, intcntlonal lmti:s~itm'.\,
rni:ucprcsentalions., or the nvi:rridr: of inicmal .,;,;111ml

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, m("~ SMART LED LIGHTING SOLUTIONS SER smart
~TEC
pow~r solutions

SERVOTECH POWER SYSTEMS LIMITED

Registered Office: 1106, 8th Floor, Cro'Nn Heights, Crown Plaza, Sector-10, Rohini, New Delhi-110085
CIN:- Ll120DDL2004PLC129379 Email: investor.relalionslillservotechindia.com

!!lATll MF.NJ Pf A\JO!tfn S(Af(QALONE flNA'NCIAL RESUl'rS FORTl-lt QU.AR'rER ANO VEAR f:NDEO l1Sl MARCH. 2Ql)

Quarter Ended Year Ended

SI. No. PARTICULARS 31 March 2023 31 December 2022 31 March 2022 J1 March 2013 31 March 2022
Audited Un-Audited Audited Audited Audited
Total Income
a) Rr:vt":m1e lrom operations Q,1..i9.BS 7,945.83 4 ~96 45 24 02 .. 09 13,369 96
b) Olher iucome 492.51 308.02 4 12 931.91 56 46
Total Reven1.1e 9.642.36 8,253.65 4,500 .57 24,956 .00 13, .. 26 .42
Ellpenses
a) Casi of malerinls consumed 7,519 .04 6 661 ,31 3.764.60 20443.41 11.258 98
b) Purchase of Slock-i11-Trede
c) Che1nges in invenlories of finished goods, work-in-
-24.62 177.15 203 87 · 159,05 301.81
~rnnaH n!Jd S1ock·1tMmcto
d) Employee benefits expense 273 ,12 228.61 181 ,74 Q48 ,20 528.90
e) Fimmce cosls 72.45 54 ,71 53.07 238 17 244 ,93
1) Depriecialinn ,:Jmortiselion and tmpairmenl cxpens~ 55.04 37.84 50.56 208 56 156,87
h) Other expenses 1 007.42 614 30 87 59 1.900.87 423 .57
Total expenses B.902.45 T,773.92 4,341 .4J. 23,580.16 12,915.0ti

Profit before exceptional and tax (I ~ 2) 739.91 479.73 159.H 1,375.U 511.36

Exr.eplinnal items 5.06 5 06

Profit before tax (3-4) 739 .91 479.73 154.08 1,l7S.B4 S06.lO
Tax expense ; 158.61 120 75 37,81 318.67 139.94
fl) Current lax 179 94 120.75 33.69 340 00 127.11
b) Oererred l<ix ·21.33 2.84 -21.33 2.84
c.) CSR Expenses
d) Income Tax of Ear1ier Yea•'S 1 28 9 99

Profit (Loss) for the period (S-4) 581.31 358.99 116.27 1,057.17 3H.l6
Cllhar Co 1 111lrehen.JI~ Income l.B1 0 75 2.35 0.75
a) Items lhal will nal be recl.auiried lo p1orit or loss 2.61 1 00 3 15 1.00
b) Income t~x 1elaling ta items thal will not be
0.79 0 25 0 79 0 2S
redassireLI to prnfil or loss
Tolal Comprehensive lncorne rorthe period (7+6) 583.12 358.99 117 .01 1,059.S3 367.11
Pa1Cl~Up E.qu1ty SnAre Cep11a1 (Face va1ue or snare
10 2,126.54 2.126 54 1,856 . ~4 2, 128,54 1,886.54
Rs .21-l
11 Other Equity
12 Eami11gs per equity share:
(1) Basic(@) 0,55 0.13 1.00 0 ,39
(2) D~UIOU (@) 0.59 0.36 0 . 13 1 07 0 37

For and on behalf of board of Directors

S~rvotech Power Systems Limited

RAMAN Digitally signed by RAMAN BHATIA

DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345eaf26be
73724cf831908ac2f70a1f9a6bc, postalCode=110085,
street=PLOT NO G-8/31 2ND,3RD FLOOR SECTOR-11
ROHINI BLK G PKT 8 Rohini Sec-11 Rohini Sector-7,

BHATIA
pseudonym=ad81318e77de64dca312554bdccbdf35,
serialNumber=2712cd863db2482c834a81335afec5aa9
058b225d3c1d2f5f29ba5116327a90d, o=Personal,
cn=RAMAN BHATIA
Date: 2023.05.07 15:47:18 +05'30'

Raman Bhatia
Managing Din:ctor
DIN: '00153827

Dale: 07.05.2023
Place : New Delhi

Servotech Power Systems Limited

CIN: L31200DL2004PLC129379
REGISTERED OFFICE: 806, sth Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
PLANT AND R&D: 76A, Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028
 Notes to the Standalone Audited Financial Results

1. The above results have been reviewed by the Audit Committee and approved by the Board of
Directors at their respective meetings held on 6th May 2023.

2. The Figures of the quarters ended 31st March, 2023 and 31st March, 2022 are the balancing figures
between the audited figures in respect of the full financial year and the published year to date
figures up to the end of the third quarter of the relevant financial year. The published YTD figures
up to the end of third quarter of the relevant financial year were subject to Limited Review.

3. The Statutory Auditors have carried out audit of the above financial results for the quarter and
financial year ended 31st March, 2023 and have issued an unmodified opinion.

4. The financial results of the Company have been prepared in accordance with Indian Accounting
Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013 ('Act') read with
Companies (Indian Accounting Standards) Rules, 2015, as amended.

5. The Board of Director of the Company (Parent Company) in their meeting held on 7th December,
2022 and the members of the Company via Postal Ballot results of which were declared on 13th
January, 2023 had approved the sub-division/stock split of the existing equity shares of the
Company, such that each equity shares having face value of Rs. 10/- (Rupees Ten Only) fully paid
up, be sub divided into 5 (Five) equity shares having face value 6lf Rs. 2/- (Rupees Two Only) each.

6. Previous periods' figures are regrouped to make them comparable with those of current period,
wherever applicable.

7. Company operates in single segment.

FOR AND ON BEHALF OF BOARD OF DIRECTORS

Digitally signed by RAMAN BHATIA

RAMAN
DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345e
af26be73724cf831908ac2f70a1f9a6bc,
postalCode=110085, street=PLOT NO G-8/31
2ND,3RD FLOOR SECTOR-11 ROHINI BLK G PKT
8 Rohini Sec-11 Rohini Sector-7,

BHATIA
pseudonym=ad81318e77de64dca312554bdcc
bdf35,
serialNumber=2712cd863db2482c834a81335a
fec5aa9058b225d3c1d2f5f29ba5116327a90d,
o=Personal, cn=RAMAN BHATIA
Date: 2023.05.07 15:47:39 +05'30'

RAMAN BHATIA
MANAGING DIRECTOR
DIN: 00153827
 S/.\AR/.\
SMART LED LIGHTING SOLUTIONS SER ~TEC
smart power solutions

SERVOTECH POWER SYSTEMS LIMITED

CIN - L31200DL2004PLCT29379
STATEMENT OF AUDITED STANDALONE BALANCE SHEET AS AT 31st March 2023
{Rs in Lar.s)
ASAT AS 1\1'
31.&t Mord• 2023 31 st MARCU 2022
Autllli!D Aull itrd
ASSETS
(1) Non-Current Assets
a) Property, Plant and Equipment 3 1,867.49 924.65
b) Other Intangible Assets 3 15.63 35.27
c) Intangble Assets under Development 3 49.00
d) Investment Property 4 218.93 218 ,93

e) Financial Assets
i) Investments 4 26.95 14.25
ii) Loa11s - -
iii) Other Finwcial Assets - -
fJ Deferred Tax Assets (net) 5 22.12 0.79
g) Other-Non Current Assets 6 1,462.48 1,418.47
h) Trade Receivables 8 440.92 813.41
4,103.53 3,425.77
(2) Current Assets
a) Inventories 7 1,457.91 1,218.60
b) Finwcial Assets
i) Trade Receivables 8 7,856.28 2,726.87
ii) Cash wd Cash Equivalents 9 1,176.94 509.89
iii) Other Bank Balances 9 322.31 270.21
iv) Loans - -
v) Other Financial Assets - -
c) Other Current Assets 6 426.45 526.07
11,239.89 5,251.64
TOTAL ASSETS 15,343.42 8,677.41
EQUITY AND LIABILITIES
Equity
a) Equity Share Capital 10.l 2,126 54 1,866.54
b) Other Equity 10.2 5,994.73 2,721.09
8,121.28 4,587.63
(1) Liabilities
Non-Current Liabilities
a) Financial liabilities
i) Borrowings 11 750.79 647.51
b) Other Non-Current Liabilities 12 126.90 215.20
c) Deferred Tax Liabilities (net) 5 -
d) Provisions 13 46.50 36.59
e) Trade Payables 14 7.38 233.51
931.56 1,132.81
(2) Current liabilities
a) Financial Liabilities
i) Borrowings 11 3,477.47 1,272.00
ti) Trade Payables 14 1,63918 962.74

b)
iii) Other Financial Liabilities
OU1er Current Liabilities 15 810.85
- -
580.11
c) Provisions 13 363.09 142.12
6,290.59 2,956.97
TOTAL EQUITY AND LIABILITIES 15,343.42 8,677.41

For and on behalf of board of Directors

Servotech Power Systems Limited
RAMAN
Digitally signed by RAMAN BHATIA
DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345eaf26be
73724cf831908ac2f70a1f9a6bc, postalCode=110085,
street=PLOT NO G-8/31 2ND,3RD FLOOR SECTOR-11
ROHINI BLK G PKT 8 Rohini Sec-11 Rohini Sector-7,

BHATIA
pseudonym=ad81318e77de64dca312554bdccbdf35,
serialNumber=2712cd863db2482c834a81335afec5aa
9058b225d3c1d2f5f29ba5116327a90d, o=Personal,
cn=RAMAN BHATIA
Date: 2023.05.07 15:48:14 +05'30'

Raman Bhatia
Managing Director
DIN: '00153827
Date: 07.05.2023
Place: New Delhi

Servotech Power Systems Limited

CIN: L31200DL2004PLC129379
REGISTERED OFFICE: 806, 81h Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
PLANT AND R&D: 76A, Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028
SAAR/.\
SMART L 0 LIG I !TING SOLU rl ONS SER smart power solutions

SERVOTECH POWER SYSTEMS LIMITED

CIN - L31200DL2004PLC129379
STANDALONE CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 31st MARCH 2023
I Rs. In I.•<•)

,. nncu1 II [ fortih~ "\ r~• t~~·~ 31JI [ l'or t11r"r•u <fldvd

M••<h ~u .11oi M~n-h 2022
A. CASH FLOW FROM OPERA TING ACTIVITIES

Net Profit before tax 1375 85 SOo 11

Adjustments For:
Other Comprehensive Income 235
Depreda tion and amortization expenses 169 28 lSOI!.~
Profit/(loss) on sale of fixed asset 0 68
Finance Costs 23817 2.W.9.1
Interest received 10 64 ·11 (17
Operating Profit before Woricing Capital Changes 1,796.98 887.04
Taxes paid (Net) -340 00 - 1 39.~J
J,4SMK 747.11
Adjustments For Working Capital:
Inventories -239.30 307.28
Trade Receivables &: Others -4,756.93 1,517.48
Other Financial, Provisions &t Others 286.49 ~5~.8'1
Trade Payable&: Others 45030 - 1 , 147 ~ 7
Increase/ (Decrease) in sundry creditors and other liabilities 14'.lA.3 -SS!l.8'J
Cash generated From Operating Activities ·2,fi6U.UJ J,124.JS

B. CASH FLOW FROM INVESTING ACTIVITIES

Purchase of fixed assets -1,142 68 ·259.54
Sale 0.51
Other/Interest Income ·10.64 21.0\'
Change in Advances -5R93
Investment in Holding Company ·12.70 ·1 4 ~

Net Cash Generated from (used in) Investing Activities · l,165.51 ·827.65

c. CASH FLOW FROM FINANCING ACTIVITIES

Payment Towards Leased Liability -52 60
Proceeds for Issue of Shares Capital 358.81 35 50
Dividend Paid -4253 0.00
Other Adjustment -0.17 -45.48
Repayment/ Proceeds for Loan 2,308 76 -38.98
Finance Cost ·238.17 -244.93
Share Premium Account including Reserves 2,158.00 Z90,5'!

Net Cash Generated from (used in) Financing Activities i ,5 ~4 . 70 ·5M5

I Total increase (decrease) in cash and cash equivalents during the year (A+B+C) n9.16 440.75
II Cash and cash equivalents at beginning of year 780.ll'J 339.J ~
III Cash and cash equivalents as at end of the year (1+11) l , 499.26 780.09

For and on behaU of board of Directors

Servotech Power Systems Limited
RAMAN
Digitally signed by RAMAN BHATIA
DN: c=IN, st=Delhi,
2.5.4.20=400095bb5f9cb07819642223b31345eaf26be
73724cf831908ac2f70a1f9a6bc, postalCode=110085,
street=PLOT NO G-8/31 2ND,3RD FLOOR SECTOR-11
ROHINI BLK G PKT 8 Rohini Sec-11 Rohini Sector-7,

BHATIA
pseudonym=ad81318e77de64dca312554bdccbdf35,
serialNumber=2712cd863db2482c834a81335afec5aa9
058b225d3c1d2f5f29ba5116327a90d, o=Personal,
cn=RAMAN BHATIA
Date: 2023.05.07 15:48:45 +05'30'

Raman Bhatia
Managing Director
DIN: '00153827
Date: 07.05.2023
Place: New Delhi

Servotech Power Systems Limited

CIN: L31200DL2004PLC129379
REGISTERED OFFICE: 806, 8th Floor, Crown Heights, Hotel Crown Plaza, Sector-10, Rohini, New Delhi -110085
PLANT AND R&D: 76A, Sector-57, Kundli Industrial Area, Sonepat, Haryana-131028
 HART
T

INlffPF~IWNT AL'llITOWS REPORT ON ACDIT OF THE STANl>ALONF.

FlNANCIA 1. RESVLTS TO TllF.. BUARJl Of' DIRF.CTORS OF SF..RVOTF.CH POWER
S\'S'rti:M.S LIMITED

Opinion
We haH audited the •Kl.:(}mpan) ing Statement of Standalone Financial Results of SERVOTF.CH
POWEil SYSTI::MS LIMITED (the "Company"). for the quarter and year ended Marc.:h 31,
2023 (the ·•statement"), being sunmillcd by the Company pursuant to the requirement of
Rcgulatkm 33 of' the SEBI (l.i~ting Obligation~ and Di.sclosurcRcquirement!>) Regulations, 2-015,
a~ arn~'.ndcd {cl1e ··Usting Regulation~").

ln our opinion and to the bc<.it of our inion.nation and according to the explanations gi\·en tO us.
llH: St11tcmcnt:
a. b presented in accordauce with the requirements of Regulation 33 of the Listing
Regulations; and
l', Gi\'cs a true nnd fair view in r.:onforrn ity wilh tile recognition and measurement principles
laid down in th~ Indian Accounting Standards ("Ind AS'') and other accounting principles
generally accepted in India of the ncl profit and total comprehensive income and other
financial information of the Company for the quarter and year then ended March 31. 2023 .

Ha!iis for Opinion

We conducted t)ur nudit in accordanc~ with the Standards on Auditing ("SA"s) specified under
Scchun 143( l 0) of the Act. Our responsibilities under chose Standards are farther described in the
Auditor's R~sponsibilitics fl1r the Aiulit Llf the Standalone Financial Results s~Uon of our report
We :lre independ(!ntof the Company in accordance \Vith the Code of Ethics issued by the lnstitute
of Chartered Ac1:ountun1s of [ndla (''ICAI") together with the ethical requirements that are
relevant w 0ur audit of lhc: Standalone Financial Results for the quarter and year ended March 31,
202} under the provisions of thr: Act and the Rules thereunder. and we hu\'e fulfilled our olhcr
ethical responsibilities in accordance with these requirements and the lCAI's Code of Ethics. We
believe that the audit evidence obtained by us is suflicientand appropriate to provide a basis for
our audit opinion,

Manugcmcnt's Responsibilities for the Standalone Financial Results

ha~ hci..·11 Cl111lpilcd frrnn the rclatc:d audited l111crim condensed scan<lalone tinan\:ial statements for
lht~ 1h1x:c molllh~ and year cndcJ t.forch .~I. 20;!3. This rcspons.ihifity includes. preparation and
prcsr:n1;nion or lh. Stund<tlllllC Financial ·suih for the quarter nd year cndcJ M- r :31. 2023
th;it give <t true url\I fair view of !he net prnllt amf 11thcr i:om1 r\!hcn ive inc.:t me d nthcr linancial
information in al.'.cordancc with the rccog11iti1m an<.l measurement principles l<lid down in Ind AS,
prc~.:ribcd un(lcr s~\:tion 133 of the Acl. rcatl \\ith relevant rules issued thereunder and other
m:rounring principles gcner.illy ai:c.:c:ptcd in Ind ia and in compliance with Rc.gula1ion 33 of the
1 i:·aing Rcgula1inns. This rcspunsibilit) ;~lso indudcs maintenance nf 11dequate 3ccounting records
in :lCC(m:iarn:e with the provisions of the A~! for safeguarding the assets of the Compan) and for
pn:'>cnting 11nd detecting frauds and other irregularities; selection and applic3tion of appropriate
ai:rnu11ti11g policies; making judgments anr.J estimates that arc reasonable and prudent; and the
design, implemcn1mion and mainlcnanct: L\f adequate inccmal tinanda1 controls that ""ere
1:1pcraling dTectiv..:I~· for ensuring. the a.:curac~,. and completeness of the accounting records.
relcv1mt to the preparatitJn and presentation of che Standalone financial Results that give a true
and foir \'Lew and is free from material mi~st<i\cmcrtl, whether due tc ri t ud or error.

In prcp;~ring the Standalone rimmcial Results. the Board of Directors is responsible for assessing
the 0.Jmpany's ability. to conlinuc as a going <:onccm. disclosing. as applicable, ma1tcrs related to
going concern <"tnd usit1g the going concern basis of accounting unless the Board of Dirt!i;tors
dthcr intends to liquidacc the Company or to cc.11se operations, or has. no realistic altcmati\'e but to
d~} ~).

Tiu: Board of Directors is ulso responsible for ovc:rseeing 1hc finan ·ial reporting process of 1hc
Company.

Auditor~s Rcs11onsibilities for the Audit orthc StHdalone Financial R£ ulls

Our objectives are 10 obtain reasonable assurance about whether 1he Standalone Financial Results
II\ a whole ar~ free from ma1erial misstatcmenl, whether d\le to fro..ud or c:rrnr. and 10 issue an
<•udilor'.s report 1hat includes our opinion. Reasonable assurance is u 11igh le-.·el of assurance, bul
is not a !Jllnrantce that an audit conducted in ar;cordancc with SAs will always detect a mtHcrial
mi\s.talcrm:nl when it exists. T\.fostatt:mcnts can .arise from fraud or error and are considered
material if, individually or in the aggrei,:atr.:, they could reasonably be cxp«tcd to intlu~ncc the
i:conomic decisions of users taken on the bu:;i:> or this Stnndulone Finctndal Rcsuhs.
As 1)an of an :rndit in accorda1ic·e \'l•ith SA~. \\C exercise professional judgment and maintain
professional skepticism through(lul the m1dlt. We 111~1:
• Identify und ns.~c~ .~ the risks of material mi~stalr.!mcnl of the Stan~lone ~· in.am:ial Result,,
whc1l1cr <lue to frm1d or CHor. design and pl·rli.inn audit proccdurt's rcsponsi,·c to tlwse risks.
 r

--.
'
'.111d obta111 _auditcvidc11cc that i\ :-.ullici~nt ;imJ appropriate to pruvidc a basis for our opinion
I he r~).k ol_ llt)l detecting ti ltlillcrial misstatement n:sulting from fraud i'> higher Chun for one
rc~ultmg from error_ a~ frau<l rnay involve coflu~ion. forgery, intentional omissions.
m i~repr\.·~cntutiom, nr the o\'<:rridc of internal control.
Obt~in an undcr~tanding of internal tinarn:ial controb rclc,·ant to the uudit in or<ler to de-;ign
audit p~1)Cl'durcs that ore uppropr ia\c in the circumstance~. but not for the purpose of
expressing an opinionon the dfoctiHmcss of such controls.
• Lqluate the appropriateness or accounting policies used and 1he reasonableness of
ac.;;(1unring estimates made by the Bourd ol Directors.
E" aluate thi; nppropriatcncss and reasonableness. of disclosures made by the Board of
Director$ in tcnns of the requirements specified undr:r Regulation 33 of the Listing
Regulations.
• Conclude on the upproprintcncss of the Board of Directors' use of the going concern basis C'Jf
accounting and, based on the audit evidence obtained, whether a material uncenainty exists
related toevcnls or conditions thtlt may cast significant doubt on the ability of the Company
!O continue as a going conceoi. If we conclude that a material uncertainty exists, we arc
rc4~1ired to draw attention in our uuditor~s report to the related disclosures in the Statement
or. if such disclosures are inad~quotc. to modify our opinion. Our condusions are based on
the audit evidence obtained up co the dntll of ourauditor's report. However, future events or
con<litio11s may cause the Company to cease to continue asa going concern,

• Evaluate the overall prese111a1ion, structure and content M the: Standalone Financial Results,
including the disclosures, and whether the Standalone financial Results represent the
underlying trunsaclions and events in a manner that achieves fitir presentation.
• Obtain sufficient appropriate audit evider1ce regarding the Standalone Financial Results uf
theCompany to express an opinion on the Standalone Financial Results.
\1atcrialily is rhc mngnitud(! of misstalc:mems in the Standalone Financial Results that.
individually or in aggregate, makes it probnble !hat the economic d.ecisions of a reason~bly
kn \~le igc hk u~cr r the ' landnlonc Financial Re 1.1 1 rn . be rnnucn I We n 1der
quanti1a1i e urntl!riulity and ql1ali1a1i e factor. in (i) p l onnin~ rhe. op _ o . ur ud.lt \\l)ri.. ntl in
cvuluu1ing rh ·it: ul of ur w rk; an I (ii) to ~vul u u lt! th· ~ 1 1 f nny 1dent1tied m1 t kmcnt5 in
the Standalone Financial Results.

\Ve communi ·ate v.ith those chu rg ·ti with gov •rnancc r;sarui~1g, a~nong .other ma~tci;-: the
planned !icop · ind liming (>r the ud il and significant uu<l11. 1nd1ng~. includmg any s1gn1hcant
dcJit:icndc~ in internal control that we idcnlil} during our aud11.
\'.·:: <ih(> pmviJc those chargcJ with govcm<incc \\ ith a i.1a1cmcr11 that we tu.we compiled with
rck,·:ant cthk.al r\!quircrncnt n:g.1rdrng imlcpcndcncc. and to c 1mmuni ate w1 1l1 them ull
rdati 11hhip!:. 1r1d l llhcr 1n<1Hcn. that m y rca ... 1mahl~ be thought to I •iJr m ou in<lept: ncknce, and
\\ hcri: appl ic<iblc. related safcgu<1rd.s.

For Mis Robit KC Jain & Co.

( • pl
CA Rohlf Ja ')"'rt61
Partner ~"""""~
1. o.~ 0994.t.4
'DI ' : ~3o'lq4 4L1Btri.x ux <'72q6
Date: D~

Place: ~~1 0 ~ ~