apollo microsystems

Date: 25th October, 2024

BSE Limited, National Stock Exchange of India Ltd.,

The Department of Corporate Services Exchange Plaza,
Phiroze Jeejeebhoy Towers, C-1, Block G, Bandra Kurla Complex, Bandra
Dalal Street, Mumbai — 400 001 (E), Mumbai - 400 051

Scrip Code: 540879 Symbol: APOLLO ISIN: INE713T01028

Dear Sir(s),

Sub: Outcome of Board Meeting held on 25% October, 2024 pursuant to Regulation 30 of
the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015

This is to inform you that Board of Directors of the company, in its meeting held today i.e.,
Friday, 25t October, 2024 at the registered office of the Company situated at Plot No 128/A,
Road No. 12, BEL Road, IDA Mallapur, Uppal Mandal, Hyderabad - 500076, Telangana,
India have inter alia, transacted the following items together with other agenda items:

1. Considered and approved the Unaudited Standalone Financial Results of the

Company for the Quarter and half year ended 30% September, 2024, as reviewed and
recommended by the Audit Committee. (Copy enclosed as Annexure I)

2. Considered and took note of the Limited Review Report on Standalone Financial
Results of the Company for the Quarter and half year ended 30t September, 2024.
(Copy enclosed as Annexure II)

3. Considered and approved the Unaudited Consolidated Financial Results of the

Company for the Quarter and half year ended 30% September, 2024, as reviewed and
recommended by the Audit Committee. (Copy enclosed as Annexure III)

4. Considered and took note of the Limited Review Report on Consolidated Financial
Results of the Company for the Quarter and half year ended 30t September, 2024.
(Copy enclosed as Annexure IV)

The Board Meeting Commenced at 09:45 A.M. (IST) and concluded at 11:00 A.M. (IST).

We Request you to kindly take on record the information and disseminate the same.
Thanking You

Yours Faithfully
For Apollo Micro Systems Limited
RUKHYA Digitally signed by
RUKHYA PARVEEN

PARVEEN 11:08:49 +05'30'

Date: 2024.10.25

Rukhya Parveen
Company Secretary & Compliance Officer

Encl: As mentioned above.

APOLLO MICRO SYSTEMS LIMITED

Regd. Off: Plot No. 128/A, Road No. 12, IDA-Mallapur, Uppal Mandal, R.R. Dist - 500076, Telangana, India.
Tel No: 040 — 27167000 - 099, Fax No: 040 - 27150820
cs@apollo-micro.com, www.apollo-micro.com
CIN No: L72200TG1997PLC026556
 Apollo Micro Systems Limited —A mexure_ :E
(CIN: L72200TG1997PLCO26556)
Telangana.
Registered office: Plot No. 128/A, Road No. 12, BEL Road, IDA Mallapur, Hyderabad - 500076,
‘Email: cs@apollo-micro.com; Website: www.apollo-micro.com
Tel No: 040-27167000, Fax : 040-27150820
SIX MONTHS ENDED 30 SEFTEMBER 2024
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND All amounts in lakhs except atherwise stated
Quarter ended Six Months ended [Year ended
30.06.2024 30.09.20 23 30.09.20 24 300920 23 31032024
s Particulars 30.09.2024 (Unandit ed) (Unandi ted) (Audited)
(Unaudited) | (Unaudited) (Unandited)
No. 8
3 1 5 6 7
1 2
1[Tncome 912015 871633 2519089 14,485.38 37,163.42
() Revfrom enu e ns
operatio 16,070.74 16951 78.08 263.38
8634 817 4116
(b) Other Income 920333 875749 253604 0 1456346 3742680
I Total Income (3+b) 16,157.08
2[Expenses 7,16328 665721 1977210 11,370.03 2831938
(a) Cost of materials consumed 12,608.83
(b) Changes in inventories of finished goods, workin- (549.40) (101389 (@23.28) (1,563.29) (1,118.20) (247478)
[progress and Stock-in-Trade 50074 48227 39238 983.01 76095 168853
(c) Employee Benefit Expenses 76043 71815 148763 147061 308015
(d) Financial costs 72720 719.77 53156 1,129.56
37446 34531 27069
(¢) Depreciation and amortization expenses 25083 153.07 47976 36077 124405
(5 Other Expenses 28.93 13375.7 2 32,936.8 9
1389075 7,988.3 786821 2187898
Total Expenses (atb+c+d+e+)
121509 889.27 348142 1,187.73 448991
3|Profit before exceptio tax (1-2)
items & nal 226633 - - -
- - -
4[Bxceptional items 1,215.09 889.27 348142 118773 448991
5|Profit before tax (3-4) 226633
6|Tax Expense: 2269 15674 70103 18354 642.97
(a) Currenttax 47834 1771 - (2627)
17.71 - -
(b) Eartaxlie adjustmernts 13151 7007 31461 1612 70631
(c) Deferred tax 18310 34476 132301
67915 35420 2681 1,083.35
ITotal Tax Expense (a+b) 86089 66246 244807 84297 3,166.90
7|Prafter ofittax (5-6) 1,587.17
8{Other ive income
litems that will not be reclassified to profit or loss - - - - - 3625
(a) Re-measurement gains/ (losses) on defined benel - - - - (10.56)
(b) Incotaxme cffect - - 2570
- - - -
[Total other comprehensiv income e(et of tax) (a+) 66246 240807 84297 319259
158717 86089
9|Total comprehensive income (7+8) 3,06490 3,064.90 230972 3,06490 232972 282359
10|Paid up equity share capital (Face Value | (Face Value Rs.1/{ (Face Value R1/{ (Face Value Rs.1/| (Face Value Rs1/ (Face Value
each) each) each) each) Rs1/-each)
Rs.1/- each) 1911541
11{Other equity | (not annualis ed) | (ot annualis ed) (annuali sed)
12|Barnings per share in Rupees (notannualised)| (notannualised) | (notannuatised) (Foce Value Re.1/| (Face Value Rsi1/) - (Face Value
(Face Value | (Face Value Rs1/{ (Face Value Rs/|
cach) each) each) each) Rs1/- each)
Rs.1/- each) 030 081 038 127
(@) Basic 053 029 028 119
053 029 02 081
(2) Diluted

For Apol uZ\Z Sysf/-/ Lum?i

Karunakar Reddy Baddam Raghupatfiy Goud Theegala

Managing Director Chairman
DIN: 00790139 DIN: 07785738
Place: Hyderabad
Date: 25 October,
2024
Notes:
1 “The financial results of the Company have been prepared in accordance with the Indian Accounting Standards as prescribed under section 133 of the Companies Act, 2013
read with Compantes (Indian Accounting Standard) Rules, 2015, as amended.
2 These unaudited results were reviewed by the Audit Committee of the Board and approved by the Board of Directors of the Company at their meeting held on 25 October,
2024
The Company operates in orly one sement, namely electromechanical components and systems and allied components and services and hence segment information is not
applicable.
4 The figures for the previous period/ year have been re-arranged wherever necessary to conform to the current period's / year's classification.
The said Financials results are also available on the website of stock exchange www.bseindia.com and www.nseindia.com and on the company's website www.apollo-
‘micro.com under section'Investors".
For and on behalf of the Board of Directors of Apollo Micro Systems Limited

Place: Hyderabad
Date: 25 October, 2024
 Standalone Statement of Assets and Liabilities as at 30 September 2024
‘All amounts
in lakhs except otherwise stated
Particulars Asat Asat
30.09.2024 31.03.2024
Unaudited Audited
(Assets
[Non-current assets
a) Property, plant and equipment 1544476 14,003.03
b) Capital work-in-progress 435465 239775
<) Other intangible assets 346,30 183.09
d) Right of Use Assets 507.83 177.94
&) Financial assets
Investments 13365 13365
Loans 93424 1,001.38
) Other Non-Current assets 59319 21947
Sub-total 22314.63 18,116.32
Current assets
a) Inventories 49,844.00 43,351.10
b) Financial assets
‘Trade receivables 22,831.99 23,527.17
Cash and cash equivalents 2623 1865
Other bank balances 1,823.89 2,054.59
Loans 759.08 71944
) Other current assets 7.606.25 7,702.69
Sab-total 82.891.44 77,373.64
[ Total assets 1,05,206.07 95.489.96|
Equity and Lisbilities
[Equity
Equity share capital 3,064.90 2,823.59
Other equity 54,535.16 49,115.41
Sub-total 57,600.05 51.939.00

Non-current liabilities
2) Financial Liabilities
i) Borrowings 217434 943.72
i) Lease Liabilities 372 105.19
b) Deferred tax liabilities, net 368215 336754
c) Provisions 100.39 10159
Sub-total 6,300.60 4518.04
|Current liabilities
&) Financial Liabilities
i) Borrowings. 18478.45 18,852.74
i) Lease Liabilities 160.65 7144
i) Trade payables:-
- total outstanding dues of micro enterprises
and small enterprises| . .
1927588 16,555.66
1,972.65 1,448.98
b) Other current liabilities 42334 1,184.93
c) Current tax liabilities, net 944.59 886.53
d) Provisions 49.85 3265
Sub-total 41.305.42 39,032.92
[ Total equity and liabilities 1,05.206.07 95.489.96
 mdmsm" 2024
Mmewmwmmfumm except otherwise stated
lakhs s
in nt
Al amou
Asat Asat
[Particulars 30.09.2024 31.03.2024
Unaudited Audited

Cash flow from operating activities 348142 4,489.94

Loss before tax
| Adjustments for: 719.77 1,129.56
Depreciation and amortisation (169.:21) (263.13)
‘Finance income 148763 3,030.15
Finance costs - 3625
Re-measurement gains on defined benefit plans
|Working eapital adjustments: 695.18 (8.867.63)
Increase in trade receivables (6,492.90)) (9,198.14)
Decrease / (Increase) in inventories (39.64) (793.55)|
Increase in loans 96.44 (2,315.63),
Increasein other assets ties 2,72022 532707
Tncrease/ (decrease) in trade payables and other financial liabil 612.89 530.00
Increase/ (decre ase) in other financ ial liabili ties (10.53)
16.00
Increase/ (decrease) in provisions (761.59); 117.92
Increase in other Current liabilities. 2,366.20 (6,787.71)
(660.68)) (248.54)
|Income tax paid 1,705.53 (7,036.25)
[Net cash flows used in operating activifies
Cash flow from investing activities work in progr (4,985.22) (4,892.83)
[Purchase of property, plant and equipment (including capital - (0.76)
Investment in Subsidiary Companies 67.14 (383.26)
Loans 230.71 (929.53)
Investment in bank deposits 16921 26313
[Finance income received (4,518.16) (5,943.26)
[Net cash flows used in investing activities
Cash flow from financing activities 1,094.86 5,649.20
(Repayment) /Procceds from borrowings, et 3,366.23 1042344
Money received against share warrants (15324) (5824)
Dividend Paid (1,487.63) (3.030.15)|
[Finance cost paid 2,82022 12,984.24
[Net cash flows from financing activities
s 758 47
Net increase / (decrease) in cash and cash equivalentyear 1865 1391
Cash and cash equiva lents at the begin ning of the 18.65
2623
|Cash and cash equivalents at the end of the year

0/
 Anreyure T
S.T. Mohite & Co.,
% Chartered Accountants
GS, B-Block, Paragon Venkatadri Apartments,
3-4-812, Street No. 1, Barkatpura,
Hyderabad — 5000 027. T.S. INDIA.
Mob. : +91 9848994508, 9848359721
Email : stmohite@yahoo.com

Standalone Financial results for the Quarter and

Independent Auditor’s Limited Review Report on Unaudited
period ended 30 September 2024 of ApolloMicro Systems Limited pursuant to Regulation 33 of the SEBI (Listing
d.
Obligation and Disclosure Requirements) Regulations, 2015, as amende

To
The Board of Directors
Apollo Micro Systems Limited
Financial Results (‘the statement) of
1. We have reviewed the accompanying Statement of Unaudited Standalone
period ended 30 September 2024, being
M’s. Apollo Micro Systems Limited (‘the Company') for the Quarter and
33 of the SEBI (Listing Obligations and
submitted by the Company pursuant to the requirement of Regulation
Disclosure Requirements) Regulations, 2015, as amended.
and approved by the Company's Board
2. This Statement, which is the responsibility of the Company's Management
with the recognition and measurement
of Directors on 25 October 2024, has been prepared in accordance
Financia l Reporting”, prescribed under
principles laid down in Indian Accounting Standard (Ind AS) 34 on “Interim
der and other accounting principles
Section 133 of the Companies Act, 2013 read with relevant rules issued thereun
ion on the Statement based on our review.
generally accepted in India. Our responsibility is to express a conclus
d on Review Engagements (SRE) 2410
3. We conducted our review of the Statement in accordance with the Standar issued by the Institute
Auditorof the Entity”,
“Review of Interim Financial Information Performed by the Independent
financia l information consists of making inquiries,
of Chartered Accountants of India (ICAI). A review of interim
ing matters and applying analytical and
primarily of Company's personnel responsible for financial and account
than an audit conducted in accordance with
other review procedures. A review is substantially less in scope
Act, 2013 and consequently does not
Standards on Auditing specified under Section 143(10) of the Companies be identified in an
enable us to obtain assurance that we would become aware of all significant matters that might
audit. Accordingly, we do not express an audit opinion.
in paragraph 3 above, nothing has come to our
4. Based on our review conducted and procedures performed as stated
nt, prepared in accordance with the recognition
attention that causes us to believe that the accompanying Stateme generally accepted
accounting principles
and measurement principles laid down in the aforesaid Ind AS and other
d in terms of Regulation 33 of the SEBI (Listing
in India, has not disclosed the information required to be disclose
, including the manner in which it is to
Obligations and Disclosure Requirements) Regulations, 2015, as amended
be disclosed, or that it contains any material misstatement.

For S. T. Mohite & Co.,

Chartered Accountants (Regd. No. 011410S)
HIMA BINDU PeahasiSackia
SAGALA Drmaeinn
CA HIMA BINDU SAGALA
Place: Hyderabad Partner (Membership No. 231056)
Date: 25 October 2024 ICAl UDIN: 24231056BKFSNP3782
 —;Z AneXure. (“T
Apollo Micro Systems Limited
{(CIN: L72200TG1997PLC026556)
- 500076, Telangana.
IDA Mallapur, Hyderabad
Registered office: Plot No. 128/, Road No. 12, BEL Road,
‘Email: cs@apollo-micro.com; Website: www.apollo-micro.com
Tel No: 040-27167000, Fax : 040-27150820
(CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED All 30 SEPTEMBER 2024
amountsin lakhs except otherwise stated
Quarter ended Six months ended [Year ended
sL Particulars 30.002024 30.06.2024 30092053 30.09.204 30.09.2023 31.03.2024
No. (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudiited) (Audited)
2 3 4 5 3 7 8
1
1{Income
(o) Revenue from operations 1607074 912015 871633 2519089 1448538 37,163.42
() Other Income 5928 5833 251 1761 4678 18257
| Total Income (a+b) 1613002 9178.48 874084 25,308.50 1453216 37,3599
2(Expenses
(2) Cost of materials consumed 1258678 716328 665721 19,750.06 11,370.03 2831602
|(b) Changes in inventories of finished goods, workin- 1,11820) (47478)
[progress and Stock-in-Trade (549.40) 01389 (@23.28) (1,563.29)
() Employee Benefit Expenses 511.97 39238 994,24 76095 1,68853
(@) Financial costs 72770 76044 718.15 1488.15 147061 3,000.17
(¢) Depreciatioandn amortization expenses 37479 34531 27069 72010 53156 112956
() Other Expenses 2191 25142 15321 48333 36163 1,247.09
[ Total Expenses (asbe+dest) 1388375 7,988.82 7,868.36 2187257 13,7659 3293659
3{Profit before exceptional items & tax (1-2) 224627 1,180.66 87248 3435.93 118557 4409.40
- - - - - -
4|Exceptional items.
5{Profit before tax (34) 220627 1,189.66 87248 3435.93 115557 440940
6[Tax Expense: 17314 61870
47086 21528 146.56 686.14
(a) Current tax
(v) Earlier tax adjustments 1771 - - 771 - 2627)
(c) Deferred tax 18475 15151 7007 31625 16122 70631
| Total Tax Expense (a+b) 67331 34679 21663 102011 20436 129874
7[Profit after tax (5-6) 15729 84267 65585 241582 s 311066

8|Other Comprehensive income

[Items that will not be reclassified to profit or loss: 3625
(2) Re-measurement gains/ (loss es)
on defined beneff - - - - -
- - - - - (10.56),
(b) Income tax effect
- - - - - 2570
[Total other comprehensive income, net of tax (a+b) 241582 s 313635
9{Total comprehensive income (7+8) 157296 84287 655,85
10|Net Profit/ (loss) attributable to 82164 311194
&) Owners of the Company 15723 843,04 65592 241327
b) Non controlling interest 273 (©18) ©.07) 255 (©42) (1.28)
11(Other Comprehensive income attributable to - 2570
2) Owners of the Company - - - -
b) Non controlling interest - - - - - -
12(Total Comprehensive income attributableto 82164 3137.64
a) Owners of the Company 157023 843.04 655.92 241327
) Non controlling interest 273 (©18) ©07) 255 (02) (.28)
13[Paid up equity share capital 3,064.90 3,064.90 232072 3,06490 23972 282359
(Face Valte| (Face Value Rs.1/-| (Face Value Rs.1/-| (Face Value Rs:1/-| (Face Value Rs.1/-| (Face Value Rs.1/-
Rs.1/- each)| each) each) each) each) each)
14[Other equity 19,0832
(not annualised) | (not annualised) | (not annualised) | (not annualised) | (notannualised) | (annualised)
15(Earnings per share in Rupees
(Face Value| (Face Value Rs:1/-| (Face Value Rs:1/-| (Face Value Rs:1/-| (Face Value Rs:1/-| (Face Value Rs.1/-
each)
Rs:1/- each) each)| each) each) each)
(a) Basic 052 029 029 80 037 124
(@) Diluted 052 029 02 028 116

For Apolmirkl y‘u’{

Karunakar Reddy Baddam i Theegala

Managing Director
DIN: 00790139
Place: Hyderabad
Notes: Private Limited and
financial resuls represent the financial resuls of Apollo Micro Systems (the Company") and its subsidiaries Ananya SIP RF Technologies
Thes consolidated
"Apollo Defence Industries Private Limited" (together referred to as "the Group").
the Companies Act, 2013
The unaudited financial results of the Group have been prepased. in accordance with the Indian Accounting Standards as prescribed under scction 133 of
read with Companies (Indian Accounting Standard) Rules, 2015, as amended.
held on 25 October, 2024
These unaudited results were reviewed by the Audit Committee of the Board and approved by the Board of Directors o the Company at their meeting
nhmafimkmuppfiable.
mepwmmhmflymmml,mmflydmnwdmfimlwmwnms:ndsyflmmdalfiedmmyalflnsmdmvimmdhmugmfiui

“The figures for the previous period yeat have been re-arranged wherever necessary to conform to the current period's / year' classification.
website ww.apollo-micro.com
The said Financials results are also avaiable on the website of stock exchange www.bseindia.com and www.nseindia.com and on the company's
under sectionInvestors".
EN

Place: Hyderabad
Date: 25 October 2024 B
 30 September, 2024
Consolidated Statement of Assets and Liabilities as at in lakhs except otherwise stated
All amounts
Asat Asat
[Particulars 30.00.2024 3103204
|Assets
[Non-current assets 15,5321 1407045
2) Property, plant and equipment 564167 3.483.69
b) Capital work-in-progress 346.30 183.09
©) Other intangible asscts 507.83 177.94
d)Right of Use Assets 742,09 305.34
¢) Other Non Current Assets 189 189
1) Goodwill
2279299 18.222.40
Sub-total
Current assets 49,848.78 4335588
a) Inventories
b) Financial assets 22,831.99 23,527.17
Trade receivables 2764 19.66
Cash and cash equivalents 1823.89 2,054.59
Other bank balances 759.08 719.44
Loans 7642.56 7.724.93
©) Other current assets 82.933.94 7740167
Sub-total 10572693 95.624.07)
Total assets
[Equity and Liabilities
Equity 306490 2,823.59
Fquity share capital 5441339 4902844
Other equity 5747828 51,852.02
Equity Atributable to Owners of the company 7246 6991
Non Controlling Interest 57.55074 51.921.93
Sub-total
[Non-carrent liabilities
a) Financial Ligbilitics 2,506.69 955.93
i) Borrowings 34372 105.19
i) Lease Liabilit 3,683.79 3367.54
b) Deferred tax liabilities, net 10039 10159
<) Provisions 6.634.59 453025
Sub-total
(Current liabilities
2) Financisl Liabilities 1852428 18,863.93
) Borrowings 160.65 7144
i) Lease Lisbilities 1932922 16,573.60
i) Trade payables:- micro enterprisos and small enterprises
? total outstanding duofes
" total outstanding dues of creditors other than micto enterprises 1.964.96 145157
i) Other financial liabilities 622.85 1332.08
) Other current liabilities 889.79 846.61
<) Current tax liabilitis, net 49.85 3265
d) Provisions 4154159 39.171.88
Sub-total 10572693 05.624.07 |
Total equity and liabilitics
 Consolidated Cash Flow Statement for the period ended 30 September 2024
All unts in lakhs except otherwise stated.
[Particulars Asat Year eaded
30.09.2024 31.03.2023

(Cash flow from operating activities 3,435.93 4,409.43

Profit or (Loss) before tax
Adjustments for: 7010 1,129.56
Deprecationand amortisafion (117.61)) (182.57)|
Finance income
Finance costs 1,488.15 3,030.18
benefit plans - 3625
Re-measurement gains on defined
| Working capital adjustments: 695.18 (8,867.63)|
Increase in trade receivables
Decrease / (Increase) in inventories (6,492.90)| (9,202.92)|
Increase in loans. (39.64)| (793.55))
Increase in other assets 8237 (2.311.87)]
Increase in other non current assets - -
Increasel (decrease) i trade payables and other financial labilities 275562 534479
Increase/ (decrease) n other financial liablities 602.59 52090
Increase/ (deorease) in provisions 16,00 (10.53)
Increase in other Current labilities (709.23) 26482
2,43655 6,624.13),
(660.68))] (248.54),
Income tax paid
1,775.87 (6,872.67)]
Net cash flows used in operating activities

|Cash flow from investing activities (5,290.69)] (5390.21),

[Purchase of property, plant and equipment (including capital work in progres
- net
(Investments in) redemption of bank deposits 23071 (929.53)
Interest Income: 117.61 182.57
Net cash flows used in investing activities (4,942.37)) (6,137.17))

|Cash flow from financing activities - 024

Sharc Capital 1.449.64 5.669.39
(Repayment) /Proceeds from borrowings, net
(1,488.15) (3,030.18)
|Finance cost paid
(153.24)| (58.24)|
|Dividend Paid
[Money received against share warrants 3,366.23 10,423.44
Net cash flows from financing activities 3,174.48 13,004.65

[Net increase / (decrease) in cash and cash equivalents 798 (519)

| Cash and cash equivalents at the beginningof the year 19.66 2485
Cash and cash equivalents at the end of the period 2 __19.66 |

pA
 Hnnexure IV
S.T. Mohite & Co.,
‘ .’X Chartered Accountants
G5, B-Block, Paragon Venkatadri Apartments,
3-4-812, street No. 1, Barkatpura,
Hyderabad — 5000 027. T.S. INDIA.
Mob. : +91 9848994508, 9848359721
Email : stmohite@yahoo.com

Independent Auditor’s Limited Review Report on Unaudited Consolidated Financial Results for the Quarter
and period ended 30 September 2024 of Apolio Micro Systems Limited pursuant to the Regulation 33 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended.

To
The Board of Directors
Apollo Micro Systems Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results (‘the
statement’) of Apollo Micro Systems Limited (‘the Parent’) and its subsidiaries (the Parent and its
subsidiaries together referred to as “the Group”) for the Quarter and period ended 30 September 2024
and (‘the Statement”), being submitted by the Parent pursuant to the requirement of Regulation 33 of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's
Board of Directors on 25 October 2024, has been prepared in accordance with the recognition and
measurement principles laid down in Indian Accounting Standard (Ind AS) 34 on “Interim Financial
Reporting®, prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued
thereunder and other accounting principles generally accepted in India. Our responslblllty is to express
a conclusion on the Statement based on our rewew

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements
(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 Parent's personnel responsible for financial and accounting
matters and applying analytical and other review procedures. A review is substantially less in scope than
an audit conducted in accordance with Standards on Auditing specified under 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.

We also performed procedures in accordance with the Circular issued by the SEBI under Regulation 33
(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to
the extent applicable.

4. The Statement includes the resuits of the subsidiaries viz., Ananya SIP RF Technologies Private Limited
and Apollo Defence Industries Private Limited with parent's holding in the subsidiaries at 51% and 76%
respectively and their statements are audited by us as a Statutory Auditors of the Subsidiary Companies,
 S.T. Mohite & Co.,
Chartered Accountants

5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has
come to our attention that causes us to believe that the accompanying Statement, prepared in
accordance with the recognition and measurement principles laid down in the aforesaid Ind AS and other
accounting principles generally accepted in India, has not disclosed the information required to be
disclosed in terms 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.

6. Our conclusion on the Statement is not modified in respect of the above matters.

For S. T. Mohite & Co.,

Chartered Accountants (Regd. No. 011410S)
HIMA BINDU s e iacha
SAGALA RE
CA HIMA BINDU SAGALA
Place: Hyderabad Partner (Membership No. 231056)
Date: 25 October 2024 ICAI UDIN: 24231056BKFSNQ8479