III~IACIIAL FUTURISTICCOI~IUNICATIONS LI)IITEO Uesd Offic SEI Ciromcs ComplcxChJmbsgh11 Sobn-173213 ( HnnJ clul Pbull~deshJ Te l t middot9 17gt) ~306-l- F~ ~0( 9 11792) 23 1902 E-mJil i tereuntlmiddot-ghrclcom
~bsht wnmiddothrclcorn I Corporal~ hJc-ntily Number (CfJ L6420011119S7PLC007466 STATt~ I ET OF UNA UD ITED STM(I)ALO-iEA-iO CO-iSOLIDATpound0 f i NANCIAL RESULTS fO il Tllf FI RST QU IlTER f2 WEO 30TII J UNE l 0 19
51 No
ru1icutan
1CO~IE
Reven ue from Opeations
Other Income
Tot~l l11come
II EXPENSES Cost of rnueriJIslsln 1ces cons umed Pvrduses ofstockmiddottn-mdc Chln~e an anveruorl~ oirin1shed yoods tk middottn pro~rcss nd stock-in tr3dc
Employee bcndits expcnss fmance costs Ocpretlltton ~nd Amomiltion epcnscs Other rrxptns~ Tol~l E~pcn~tS
Ill lrofit (lou) be(ore ccreptional iren1s ~nd lu I- ll)
JV Sture or nt pro1iti orJOint v~ncurcs Jccounlcd for usm~
(QUIIY m~thod
V Profic (ton) berore ucrptiun~licems uuJ tu (111+ 1
It Profic (Lou)IJerorctn(V-VI)
VIII Tu upense
Current Tax Dctrrcd TJ~ (mcludiny MAT ctcdit tdJUSinhnli)
IX r10fit I (loss) ancr lts ror rhc pe1middotiod rrom conriuuin~ opc1-lion~ (VII- VIII)
X Ocher COIUJl~hc-nsimiddote Income
Items thlt _II not b~ recbssifi~d to profit or los~ fmom~ ttltt on 3bo lo 1 1~m
lhnbulls thu w1ll be rceus11i~d co ptotit or loss Othe-r comprchcnsin~ iiiCOIUC ror the perioll arcc-r cu
XI Tolll (OIUJlrehensigtmiddote inCOIUt ror tht J~trioll (IX+XJ
XII lro fit ucribu11ble to
0ncn ofth~ Parent Nonmiddottontrollbullng intercsts
XIII Tot-1COniJJreh ensit income tllributable co
0mers of lh~ PJrcnl Nonmiddotcontrollang interestS
XIV laillmiddotup Equicy Share Ctpiall (face vdu~ of Re llshyuch)
XV Othu Equiry
XVI E-nlins rer Shtrt (ftce value or Re IImiddot uch) -8JSic
Oilul~
( m Cmrbull middot( ulh~nbulllt OUImiddotcl
~ru lllnn Three months
cndtd Pbullmiddotccctlin~
thrte months ended
lOch June 2019 Jlu Mar-ch 2019
linmiddotAudiced AuiJiced
1006 1
us 1 0~96
560 S l
H172 )6 88
592 22amp-s 5 ss
J7Jl 10608
13588
1)588
IJSSS
1055 159
89J~
13 (0)9)
08~
90 18
128 aa
070 070
109~ 68 J1J9
I IJ7 17
609 26
JJ7Sl (~6 ~01
5105 1855 J 79
78 13
I OS291
S-1 6
S-t6
SJ6
1961
li 16
5U9
6 18
(O U)
(OOJI 602
5751
0-12
0-10
Conmiddot~pondiue Previous Yur Three months chrcr monctu cmJed cndcd cbullbulldcd in the prtbullious )t-
Prcccdin lhrlaquo months
ended
Correspondin Prtious Yenr thru monchs endetJ ~udell in che
previous year
lOih June DIS J lsi ~larch JOth Junt 019 list )larch lOth June DIS list ~bnh 20191019 019
Un~Audiced AuditCd Un-Audited Un-Auditnf Uo-Audiled
IOJ ISJ ~98
103651
i~S 7J t~J ~
(71 ) 6 1
~0 86
I 5 I~ JSS
2S 79
966J7
701-1
70 1-1
70 1~
1~ 67
1111
HJ6
()07)
101
(U61
-12JO
12JC)a
OJ-l 0 3-
1amp21
26S 29
IJOi J9 109
17691 77 9~
17 S2 168~0
- IJamp7
907-1
907-1
907-1
6)08 JI 6J
1 8~03
558 (0 )6)
(OOJI 5 19
1892
12744
13 16 IJ
I~S
IJ6
l l-127)
63 1 1 )190~
61~ 16 HJJQ 9 6-1
6 16lt1
~7 6S
S76 ~ S OS
IIIJI
IS7i0
(OJ31
157J7
157J7
Jl J-1 ~ 91
1171
100
(0 J91
061
11773
110 39 673
11105
668
12S4-I
086
086
121 547
JS 62 15109
68965 J~6 JO (5 7 SJI
~S II 2860
S -IS
7906
115267
9SA2
060
990
9902
199J
1)16
659 2
S9J
(O IJ)
(OOJ I 577
71 6
6263 J 30
12744
0 50 0 50
1088)0
SJ I 1093 6 1
56ampA2 tJ I S (7~AJI
09 1619 S 6S
JS27
IOOS
7J07
(0 10)
7297
7297
IJ 67
I I II
~7 1
(3 191
I 0 1
(~18)
~50 1
~6()1
I IS
~3 90
11 ~
1219-1
Ol7 0 31
Audiccd
J7J7 79
~696
~78~75
252)22 loll 6 56
(7911
199 76 9 186
26 97 I SS 91
3J9J8
(0091
3J92
33929
6l ~I
J 162
lJl26
~ 92 (0J6)
(0 0)1
~ SJ
J679
2 1971
135
22-60
1219
12744
13 027
Cont
177
17S
unouditcd ConsoHdotcd n~mmt win rcbullmiddotrnur rsults osscts aud tiobilitics foomiddot the forst qubullo1rrrndrd JOth Jnnr 019 (Rs in Crorc unless othlfISC illhmiddotcH
St Pu1icul1n Cnn liobtbull d
ito T hr-te monlhi Pr-eceding Cor-responding rremiddotious Velr ended rhree n1onthi lhree months ended
ended tnded in the premiddotious yetr
JOth June 2019 J lsr ~brch JOII1 Juue 0 1S Jhl lu-ch 2019 019
lin-udil td Un-Autlitetl Un-Audited Audi ted
Segnu~nt Rcmiddotenue
l Tck-com ProduCIS 3618~ 3lOSO - 23 135166
b Turnkey ConlrJcU Jnd Scrv1cts 98089 s~~ 7 8~607 3]86 13
c 01hrs
Total I J~27J 1 bull 15-17 IOSSJO ~7J779
Less lrH cr semampnt rcvenu
Rr tf1UC rronl OllerUiOil$ IJJ7J 115-1 7 I OSSJO ~7J779
StfUttH Ruulls poundrorc (Lou) berore cu uuJ interest
(ronl eCh nment
3 Tchcom rroduc ts 5-18~ ~7 SS 26 ~1 168 50
b Turnkey CotnrlCI$ and Services 1~7 53 1276 6~ S7 ~S2AO
c Others (00 11
To r~~I ISJS 120JI 888~ H089
Leu 1 Interest 768 ~s 60 16 )9 9136
11 Other un-lllocsblc upcndnurc net ofT obull1 3 51 0 9-1 S- 1ii Un-alloablc 1ncome (J Ill (1181) (I l l) IS 501
Toll Profit bcrore Tu 157J7 990 7297 JJ929
Scement r ltcctc J Tdecon1 Producu 1157 71 101191 Sl6 38 ltH91
b T umkey Contracts Jnd Sctviccs 5209-l ISOS 39 1 ~6) 79 1305 )9
c Others DJ~ 031 037 0 31
d Un-~llocucd ~9907 JS) 72 ~93 3 IS 72
Torl bull178obull JJO~JJ 81A7 JJOJJ
bull Segment liabililiet
J Tclccon1 Products )S -1 2 45965 J9 26 amp39 65
b Tumkcy ContrJClS 31ld ScrvictS 1506 18 86588 1~9 s S65SS
c OthN
d Un-1 llocatltd j1SA7 5~709 ~7676 5H09
Tocal 618 87 1816 161887 1316
Notes 1 Th Lb01 Ln-Aud bullhd Sundllonc amp Consolidued fin1nciJI Resu lts oi the Comp~ny lOr the first qUlncr ended JOth June 2019 hJC bLin reviewed and r~Xommcndcd by the Audit Comm iutlt omd
appromiddoted by che Doud ofDirectors ofthe Compln) Jl itr meetin~ held o n lOth July 019
2 The Jbovc Resutu Jre in cobullnpliV~CC With th lndim Accounting Sundud (lnd -S) li prcscribd under sCIIOI Ill of the Compm ics Acl 01J rad With ComplniCS (lndi3n Account in~ Sllntb rd)
Rules ~0 15 u uncndcd rrom lime 10 hme
The Audbulltors h3 C conducted l inuhd t- tew of the 1foresu d rin~nci31 rcsuhs for- the quJrter ndc1 JOth Junl 019 Consgfidued figurs for the comspondm~ q~ncr ended lOth June 201 S lnd
prcccdin~ ClUJ ncr ended J lsc ~brch 1019 u reponed in these coni ol idlred fin~nciJI r-suhs hlC been lpptOcd b)bull the Comp~nyi Boud ofDirectors but hlvc 1101 been subjCIcd 10 review
J The -llocmcnt Comn1in (Wunttts of che Blaquoltrd of lJbullrectors of the Comptny ll ats mectlllgS held ongtlh -pnl 201Q Jnd 9th Aprd ~019 hu m1dc lllolntcl1 of SOSJH 1nd J791667 equ al)
slur~ olthc iace l luc orRc J nch Jil premium oi Ri IS pltr equity sh3rc respcclimiddotcly to the wltfJnt holder consltqu~mt upon ((crcbullse ofhbulli n~hts for conversion of2rrtnlS tnto cquil) shucs lpon ~llotmml oi1h~e cquil)middot shlrcs the p3id up equity share CJplll l of the Compmiddotmy has mcrcucd rrom Rs 121Jl 7719Jf- (RuplaquoS One Hundred Tenty Seven Crore Forty Three Llkh Sccnty Semiddotcn
ThowJnd One ~l undrd Nmcty Four Only) comprising of I 7-37119J equ ity slurcs of1hc fau valuc o( R~ llmiddot ach to Rs I1Smiddotll771941- (Rupees One Hundred Twenty Eishc Crorc Fony nu-e llkh Scmiddotent y Semiddotcn ThouSlnd One Hundrcd Nintt) f our OnlyI comprisins of 1SJl7119J cqult) shlrcs of the flee l luc ofRc J ach
S The Coniohdudl fi~ncill resul ts (or 1he qumer ended lOth Junebull 019 ncludcs the results of the fol lowms enmu~s
J HimJchJI Futuristic Communicauons Ltd (UFCL)
b HTL Ltd ( Subsidibullry) c Moneu f1Rl1Ce ~1 l1ltf ( Subsidiuy)
d Polixcl Security Systems p_ Ltd (Subsidiary)
c HFCL AdV3nce Systcnu Pvt Ltd (Subsidiary)
r DrsonV3C HFCL lndi1 P vt lid (Jointly controll~-d e1uity 1
RoddcfPvt Ltd (subsidi1ry wd l l OS2019)
6 Durin~ the qu3ncr under review chc Company has Jcquircd conttolling i llke or 9QJo m RJddcf rriv3 tc Linucd (Rddcf) hwing its rcsishtcd oflicc Jt C-131 k C-116 2nd A ~bin RGld recn)l 2bullbulld
St1ge Pccn)ltl fnduscrial Area 83nstlorc -S600SS 113 1o1al consideruion otRs90000- th ereby m3kin~ itJ subsidiary ofch~ Comp3ny wcJ 15th M1y 20 19 R3ddefshJII undentlce dcvclopnunl o
new producu in the field ordcrencc surveillance Jnd telccom industry for the Company
Th e Group hJs ldopcd lnd AS 116- Leues etTcctia from 1st April 019 usin~ the cunwlltivc eO~I method Th adoption of the sWldard docs not h~ vc ~ny mJictill impacc on the rin~ncia l rcsu iiS
or the Group
8 The f1ur--s of the preceding qiLlncr endld J i st 1tllrch 1019 were rhe b1bncins ligures bclwttn the audited fiyurcs for lhe full finJnci1 l rar ended 31st ~IJrch 2019 3nd the published year 10 d3re
figuros up to th ird qull1trofthu ti~ncial yur
9 The fi)ufes ofth e prcvioui pe~iods hamiddotc lx-en re-g rouped r~middotJrranged whciCCr cons1dcrcd ntcltSsuy
rtc middot New Delhi Dgtte lOth July ~019
_oy~~r I~~bullhcndrn NgthgtU)
~bnJting Direccor DIN 0005~898
~middot
S Bhandari amp Co Oswal Sun il amp Company Cl1artered Accountants Cha1terecl Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi - 11 0 002
Independent Auditors Review Report on Standalone Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)
To the Board of Directors of Himachal Futuristic Communications Limited
We have reviewed the accompanying statement of unaudited standalone financial results (the statement) of Himachal Futuristic Communications Limited (the Company) for the quarter ended June 30 2019 being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended) including relevant circulars issued by the SEBI from time to time The Statement is the responsibility of the Companys Management and has been approved by the Companys Board of Directors Our responsibility is to issue a report on the Statement based on our review of the Statement which has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (lnd AS 34) specified under Section 133 of the Companies Act 2013 read with relevant rules issues thereunder and other accounting principles generally accepted in India and in Compliance with regulation 33 of the Listing Regulation
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 A review of interim financial information consists of making inquiries primarily of persons 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 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
Based on our review conducted as above nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results prepared in accordance with the recognition and measurement principles laid down in the applicable Indian accounting standards (lnd AS) specified under Section 133 of the Companies Act 2013 read with relevant rules issued there under and other recognised accounting practices and policies 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) Regulati ons 2015 (as amended) including the manner in which it is to be disclosed or that it contains any material misstatement
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Place New Delhi Date July 10 2019
S Bhandari amp Co Oswa Sunil amp Company Cha1tered Accountants Chartered Accountants P-7 Tilak IVlarg C Scheme 71 Daryaganj Jaipur- 302 005 New De lhi - 110 002
Independent Auditors Review Report on Consolidated Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)
To the Board of Directors of Himachal Futuristic Communications Limited
1 We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results (the Statement) of Himachal Futuristic Communications Limited (the Parent) and its subsidiaries (the Parent and its subsidiaries together referred to as the Group) and its share of the net loss after tax and total comprehensive loss of its jointly controlled entity for the quarter ended June 30 2019 being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obliga tions and Disclosure Requirements) Regulations 2015 as amended Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended June 30 2018 and preceding quarter ended March 31 2019 as reported in these consolidated financial results have been approved by the Parents Board of Directors but have not been subjected to review
2 This Statement which is the responsibility of the Parents Management and approved by the Parents Board of Directors has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (lnd AS 34) prescribed under Section 133 of the Companies Act 2013 read with relevant rules issued the reunder and other accounting principles generally accepted in India and in Compliance with regu lation 33 of the Listing Regulation Our responsibility is to issue a report on the Statemen t based on our review of the Statement
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 A review of interim financial information consists of making inquiries primarily of persons 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 and consequentl y 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 results of Subsidiaries namely HTL Ltd Poli xel Security Systems Pvt Ltd Raddef Private Limited Moneta Finance Pvt Ltd and HFCL Advance Systems Pvt Ltd and jointly controlled entity namely Dragon Wave HFCL India Pvt Ltd
5 Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 and 7 below and management certified separate interim financial informationfina ncial results refer red to in paragraph 8 below 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 Indian Accounting Standard and other accounting principles generally accep ted in India has not disclosed the information required to be disclosed in terms of Regu lation 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
S Bhandari amp Co Oswal Sunil amp Company Chartered Accountants CJartered Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi- 110 002
6 We did not review the interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect total revenues of Rs16870 Crore total net profit after tax of Rs 2597 Crore and total comprehensive income of Rs 2578 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results These interim financial information I financial resu lts have been reviewed by other auditors whose reports have been furnished to us by the Management and ou r conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above
Our conclusion on the Statement is not modified in respect of the above matters
7 The interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect tota l revenues of Rs1294 Crore total net profit after tax of Rs 230 Crore and total comprehensive income of Rs 226 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financ ia l results have been reviewed by one of the joint auditors of the parent co mpa ny and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of such joint audi tor
Our conclusion on the Statement is not modified in respect of the above matters
8 We did not review the interim financial information I financial results of one subsidiar y included in the consolidated unaudited financial results whose interim financial information f inancial resul ts reflect total revenue of Rs Nil total net loss after tax of Rs 016 Crore and total comprehensi ve loss of Rs 016 Crore for the quarter ended June 30 2019 as considered in the consolidated unaud ited fi nancial results The consolidated unaudited financial results also includes the Groups share of net loss after tax of Rs 065 Crore and total comprehensive loss of Rs 066 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results in respe ct of one jointly controlled entity based on their interim financial information financial results which have not been rev iewed by their auditors These interim financial results are un-reviewed and have been furnished to us by the management and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of this subsidiary and jointly controll ed entity and our report in terms of Regulation 33 (read with regulation 63) of the SEBI (Listing Ob ligation and Disclosure Requirements) Regulations 2015 read with SEBI circular in so far it rela tes to the aforesaid subsidia ry and jointly controlled entity are based solely on such un-reviewed financial information In our opinion and according to the information and explanations given to us by the Management these interim financial information I financial results are not material to the Group
Our conclusion on the Statement is not modified in respect of the above matters
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Partner Membership Nomiddot 5135 UDIN 19513504AAAABH1676
Place New Delhi Date July 10 2019
unouditcd ConsoHdotcd n~mmt win rcbullmiddotrnur rsults osscts aud tiobilitics foomiddot the forst qubullo1rrrndrd JOth Jnnr 019 (Rs in Crorc unless othlfISC illhmiddotcH
St Pu1icul1n Cnn liobtbull d
ito T hr-te monlhi Pr-eceding Cor-responding rremiddotious Velr ended rhree n1onthi lhree months ended
ended tnded in the premiddotious yetr
JOth June 2019 J lsr ~brch JOII1 Juue 0 1S Jhl lu-ch 2019 019
lin-udil td Un-Autlitetl Un-Audited Audi ted
Segnu~nt Rcmiddotenue
l Tck-com ProduCIS 3618~ 3lOSO - 23 135166
b Turnkey ConlrJcU Jnd Scrv1cts 98089 s~~ 7 8~607 3]86 13
c 01hrs
Total I J~27J 1 bull 15-17 IOSSJO ~7J779
Less lrH cr semampnt rcvenu
Rr tf1UC rronl OllerUiOil$ IJJ7J 115-1 7 I OSSJO ~7J779
StfUttH Ruulls poundrorc (Lou) berore cu uuJ interest
(ronl eCh nment
3 Tchcom rroduc ts 5-18~ ~7 SS 26 ~1 168 50
b Turnkey CotnrlCI$ and Services 1~7 53 1276 6~ S7 ~S2AO
c Others (00 11
To r~~I ISJS 120JI 888~ H089
Leu 1 Interest 768 ~s 60 16 )9 9136
11 Other un-lllocsblc upcndnurc net ofT obull1 3 51 0 9-1 S- 1ii Un-alloablc 1ncome (J Ill (1181) (I l l) IS 501
Toll Profit bcrore Tu 157J7 990 7297 JJ929
Scement r ltcctc J Tdecon1 Producu 1157 71 101191 Sl6 38 ltH91
b T umkey Contracts Jnd Sctviccs 5209-l ISOS 39 1 ~6) 79 1305 )9
c Others DJ~ 031 037 0 31
d Un-~llocucd ~9907 JS) 72 ~93 3 IS 72
Torl bull178obull JJO~JJ 81A7 JJOJJ
bull Segment liabililiet
J Tclccon1 Products )S -1 2 45965 J9 26 amp39 65
b Tumkcy ContrJClS 31ld ScrvictS 1506 18 86588 1~9 s S65SS
c OthN
d Un-1 llocatltd j1SA7 5~709 ~7676 5H09
Tocal 618 87 1816 161887 1316
Notes 1 Th Lb01 Ln-Aud bullhd Sundllonc amp Consolidued fin1nciJI Resu lts oi the Comp~ny lOr the first qUlncr ended JOth June 2019 hJC bLin reviewed and r~Xommcndcd by the Audit Comm iutlt omd
appromiddoted by che Doud ofDirectors ofthe Compln) Jl itr meetin~ held o n lOth July 019
2 The Jbovc Resutu Jre in cobullnpliV~CC With th lndim Accounting Sundud (lnd -S) li prcscribd under sCIIOI Ill of the Compm ics Acl 01J rad With ComplniCS (lndi3n Account in~ Sllntb rd)
Rules ~0 15 u uncndcd rrom lime 10 hme
The Audbulltors h3 C conducted l inuhd t- tew of the 1foresu d rin~nci31 rcsuhs for- the quJrter ndc1 JOth Junl 019 Consgfidued figurs for the comspondm~ q~ncr ended lOth June 201 S lnd
prcccdin~ ClUJ ncr ended J lsc ~brch 1019 u reponed in these coni ol idlred fin~nciJI r-suhs hlC been lpptOcd b)bull the Comp~nyi Boud ofDirectors but hlvc 1101 been subjCIcd 10 review
J The -llocmcnt Comn1in (Wunttts of che Blaquoltrd of lJbullrectors of the Comptny ll ats mectlllgS held ongtlh -pnl 201Q Jnd 9th Aprd ~019 hu m1dc lllolntcl1 of SOSJH 1nd J791667 equ al)
slur~ olthc iace l luc orRc J nch Jil premium oi Ri IS pltr equity sh3rc respcclimiddotcly to the wltfJnt holder consltqu~mt upon ((crcbullse ofhbulli n~hts for conversion of2rrtnlS tnto cquil) shucs lpon ~llotmml oi1h~e cquil)middot shlrcs the p3id up equity share CJplll l of the Compmiddotmy has mcrcucd rrom Rs 121Jl 7719Jf- (RuplaquoS One Hundred Tenty Seven Crore Forty Three Llkh Sccnty Semiddotcn
ThowJnd One ~l undrd Nmcty Four Only) comprising of I 7-37119J equ ity slurcs of1hc fau valuc o( R~ llmiddot ach to Rs I1Smiddotll771941- (Rupees One Hundred Twenty Eishc Crorc Fony nu-e llkh Scmiddotent y Semiddotcn ThouSlnd One Hundrcd Nintt) f our OnlyI comprisins of 1SJl7119J cqult) shlrcs of the flee l luc ofRc J ach
S The Coniohdudl fi~ncill resul ts (or 1he qumer ended lOth Junebull 019 ncludcs the results of the fol lowms enmu~s
J HimJchJI Futuristic Communicauons Ltd (UFCL)
b HTL Ltd ( Subsidibullry) c Moneu f1Rl1Ce ~1 l1ltf ( Subsidiuy)
d Polixcl Security Systems p_ Ltd (Subsidiary)
c HFCL AdV3nce Systcnu Pvt Ltd (Subsidiary)
r DrsonV3C HFCL lndi1 P vt lid (Jointly controll~-d e1uity 1
RoddcfPvt Ltd (subsidi1ry wd l l OS2019)
6 Durin~ the qu3ncr under review chc Company has Jcquircd conttolling i llke or 9QJo m RJddcf rriv3 tc Linucd (Rddcf) hwing its rcsishtcd oflicc Jt C-131 k C-116 2nd A ~bin RGld recn)l 2bullbulld
St1ge Pccn)ltl fnduscrial Area 83nstlorc -S600SS 113 1o1al consideruion otRs90000- th ereby m3kin~ itJ subsidiary ofch~ Comp3ny wcJ 15th M1y 20 19 R3ddefshJII undentlce dcvclopnunl o
new producu in the field ordcrencc surveillance Jnd telccom industry for the Company
Th e Group hJs ldopcd lnd AS 116- Leues etTcctia from 1st April 019 usin~ the cunwlltivc eO~I method Th adoption of the sWldard docs not h~ vc ~ny mJictill impacc on the rin~ncia l rcsu iiS
or the Group
8 The f1ur--s of the preceding qiLlncr endld J i st 1tllrch 1019 were rhe b1bncins ligures bclwttn the audited fiyurcs for lhe full finJnci1 l rar ended 31st ~IJrch 2019 3nd the published year 10 d3re
figuros up to th ird qull1trofthu ti~ncial yur
9 The fi)ufes ofth e prcvioui pe~iods hamiddotc lx-en re-g rouped r~middotJrranged whciCCr cons1dcrcd ntcltSsuy
rtc middot New Delhi Dgtte lOth July ~019
_oy~~r I~~bullhcndrn NgthgtU)
~bnJting Direccor DIN 0005~898
~middot
S Bhandari amp Co Oswal Sun il amp Company Cl1artered Accountants Cha1terecl Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi - 11 0 002
Independent Auditors Review Report on Standalone Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)
To the Board of Directors of Himachal Futuristic Communications Limited
We have reviewed the accompanying statement of unaudited standalone financial results (the statement) of Himachal Futuristic Communications Limited (the Company) for the quarter ended June 30 2019 being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended) including relevant circulars issued by the SEBI from time to time The Statement is the responsibility of the Companys Management and has been approved by the Companys Board of Directors Our responsibility is to issue a report on the Statement based on our review of the Statement which has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (lnd AS 34) specified under Section 133 of the Companies Act 2013 read with relevant rules issues thereunder and other accounting principles generally accepted in India and in Compliance with regulation 33 of the Listing Regulation
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 A review of interim financial information consists of making inquiries primarily of persons 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 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
Based on our review conducted as above nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results prepared in accordance with the recognition and measurement principles laid down in the applicable Indian accounting standards (lnd AS) specified under Section 133 of the Companies Act 2013 read with relevant rules issued there under and other recognised accounting practices and policies 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) Regulati ons 2015 (as amended) including the manner in which it is to be disclosed or that it contains any material misstatement
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Place New Delhi Date July 10 2019
S Bhandari amp Co Oswa Sunil amp Company Cha1tered Accountants Chartered Accountants P-7 Tilak IVlarg C Scheme 71 Daryaganj Jaipur- 302 005 New De lhi - 110 002
Independent Auditors Review Report on Consolidated Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)
To the Board of Directors of Himachal Futuristic Communications Limited
1 We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results (the Statement) of Himachal Futuristic Communications Limited (the Parent) and its subsidiaries (the Parent and its subsidiaries together referred to as the Group) and its share of the net loss after tax and total comprehensive loss of its jointly controlled entity for the quarter ended June 30 2019 being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obliga tions and Disclosure Requirements) Regulations 2015 as amended Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended June 30 2018 and preceding quarter ended March 31 2019 as reported in these consolidated financial results have been approved by the Parents Board of Directors but have not been subjected to review
2 This Statement which is the responsibility of the Parents Management and approved by the Parents Board of Directors has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (lnd AS 34) prescribed under Section 133 of the Companies Act 2013 read with relevant rules issued the reunder and other accounting principles generally accepted in India and in Compliance with regu lation 33 of the Listing Regulation Our responsibility is to issue a report on the Statemen t based on our review of the Statement
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 A review of interim financial information consists of making inquiries primarily of persons 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 and consequentl y 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 results of Subsidiaries namely HTL Ltd Poli xel Security Systems Pvt Ltd Raddef Private Limited Moneta Finance Pvt Ltd and HFCL Advance Systems Pvt Ltd and jointly controlled entity namely Dragon Wave HFCL India Pvt Ltd
5 Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 and 7 below and management certified separate interim financial informationfina ncial results refer red to in paragraph 8 below 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 Indian Accounting Standard and other accounting principles generally accep ted in India has not disclosed the information required to be disclosed in terms of Regu lation 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
S Bhandari amp Co Oswal Sunil amp Company Chartered Accountants CJartered Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi- 110 002
6 We did not review the interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect total revenues of Rs16870 Crore total net profit after tax of Rs 2597 Crore and total comprehensive income of Rs 2578 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results These interim financial information I financial resu lts have been reviewed by other auditors whose reports have been furnished to us by the Management and ou r conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above
Our conclusion on the Statement is not modified in respect of the above matters
7 The interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect tota l revenues of Rs1294 Crore total net profit after tax of Rs 230 Crore and total comprehensive income of Rs 226 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financ ia l results have been reviewed by one of the joint auditors of the parent co mpa ny and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of such joint audi tor
Our conclusion on the Statement is not modified in respect of the above matters
8 We did not review the interim financial information I financial results of one subsidiar y included in the consolidated unaudited financial results whose interim financial information f inancial resul ts reflect total revenue of Rs Nil total net loss after tax of Rs 016 Crore and total comprehensi ve loss of Rs 016 Crore for the quarter ended June 30 2019 as considered in the consolidated unaud ited fi nancial results The consolidated unaudited financial results also includes the Groups share of net loss after tax of Rs 065 Crore and total comprehensive loss of Rs 066 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results in respe ct of one jointly controlled entity based on their interim financial information financial results which have not been rev iewed by their auditors These interim financial results are un-reviewed and have been furnished to us by the management and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of this subsidiary and jointly controll ed entity and our report in terms of Regulation 33 (read with regulation 63) of the SEBI (Listing Ob ligation and Disclosure Requirements) Regulations 2015 read with SEBI circular in so far it rela tes to the aforesaid subsidia ry and jointly controlled entity are based solely on such un-reviewed financial information In our opinion and according to the information and explanations given to us by the Management these interim financial information I financial results are not material to the Group
Our conclusion on the Statement is not modified in respect of the above matters
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Partner Membership Nomiddot 5135 UDIN 19513504AAAABH1676
Place New Delhi Date July 10 2019
S Bhandari amp Co Oswal Sun il amp Company Cl1artered Accountants Cha1terecl Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi - 11 0 002
Independent Auditors Review Report on Standalone Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)
To the Board of Directors of Himachal Futuristic Communications Limited
We have reviewed the accompanying statement of unaudited standalone financial results (the statement) of Himachal Futuristic Communications Limited (the Company) for the quarter ended June 30 2019 being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended) including relevant circulars issued by the SEBI from time to time The Statement is the responsibility of the Companys Management and has been approved by the Companys Board of Directors Our responsibility is to issue a report on the Statement based on our review of the Statement which has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (lnd AS 34) specified under Section 133 of the Companies Act 2013 read with relevant rules issues thereunder and other accounting principles generally accepted in India and in Compliance with regulation 33 of the Listing Regulation
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 A review of interim financial information consists of making inquiries primarily of persons 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 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
Based on our review conducted as above nothing has come to our attention that causes us to believe that the accompanying statement of unaudited standalone financial results prepared in accordance with the recognition and measurement principles laid down in the applicable Indian accounting standards (lnd AS) specified under Section 133 of the Companies Act 2013 read with relevant rules issued there under and other recognised accounting practices and policies 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) Regulati ons 2015 (as amended) including the manner in which it is to be disclosed or that it contains any material misstatement
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Place New Delhi Date July 10 2019
S Bhandari amp Co Oswa Sunil amp Company Cha1tered Accountants Chartered Accountants P-7 Tilak IVlarg C Scheme 71 Daryaganj Jaipur- 302 005 New De lhi - 110 002
Independent Auditors Review Report on Consolidated Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)
To the Board of Directors of Himachal Futuristic Communications Limited
1 We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results (the Statement) of Himachal Futuristic Communications Limited (the Parent) and its subsidiaries (the Parent and its subsidiaries together referred to as the Group) and its share of the net loss after tax and total comprehensive loss of its jointly controlled entity for the quarter ended June 30 2019 being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obliga tions and Disclosure Requirements) Regulations 2015 as amended Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended June 30 2018 and preceding quarter ended March 31 2019 as reported in these consolidated financial results have been approved by the Parents Board of Directors but have not been subjected to review
2 This Statement which is the responsibility of the Parents Management and approved by the Parents Board of Directors has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (lnd AS 34) prescribed under Section 133 of the Companies Act 2013 read with relevant rules issued the reunder and other accounting principles generally accepted in India and in Compliance with regu lation 33 of the Listing Regulation Our responsibility is to issue a report on the Statemen t based on our review of the Statement
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 A review of interim financial information consists of making inquiries primarily of persons 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 and consequentl y 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 results of Subsidiaries namely HTL Ltd Poli xel Security Systems Pvt Ltd Raddef Private Limited Moneta Finance Pvt Ltd and HFCL Advance Systems Pvt Ltd and jointly controlled entity namely Dragon Wave HFCL India Pvt Ltd
5 Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 and 7 below and management certified separate interim financial informationfina ncial results refer red to in paragraph 8 below 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 Indian Accounting Standard and other accounting principles generally accep ted in India has not disclosed the information required to be disclosed in terms of Regu lation 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
S Bhandari amp Co Oswal Sunil amp Company Chartered Accountants CJartered Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi- 110 002
6 We did not review the interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect total revenues of Rs16870 Crore total net profit after tax of Rs 2597 Crore and total comprehensive income of Rs 2578 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results These interim financial information I financial resu lts have been reviewed by other auditors whose reports have been furnished to us by the Management and ou r conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above
Our conclusion on the Statement is not modified in respect of the above matters
7 The interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect tota l revenues of Rs1294 Crore total net profit after tax of Rs 230 Crore and total comprehensive income of Rs 226 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financ ia l results have been reviewed by one of the joint auditors of the parent co mpa ny and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of such joint audi tor
Our conclusion on the Statement is not modified in respect of the above matters
8 We did not review the interim financial information I financial results of one subsidiar y included in the consolidated unaudited financial results whose interim financial information f inancial resul ts reflect total revenue of Rs Nil total net loss after tax of Rs 016 Crore and total comprehensi ve loss of Rs 016 Crore for the quarter ended June 30 2019 as considered in the consolidated unaud ited fi nancial results The consolidated unaudited financial results also includes the Groups share of net loss after tax of Rs 065 Crore and total comprehensive loss of Rs 066 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results in respe ct of one jointly controlled entity based on their interim financial information financial results which have not been rev iewed by their auditors These interim financial results are un-reviewed and have been furnished to us by the management and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of this subsidiary and jointly controll ed entity and our report in terms of Regulation 33 (read with regulation 63) of the SEBI (Listing Ob ligation and Disclosure Requirements) Regulations 2015 read with SEBI circular in so far it rela tes to the aforesaid subsidia ry and jointly controlled entity are based solely on such un-reviewed financial information In our opinion and according to the information and explanations given to us by the Management these interim financial information I financial results are not material to the Group
Our conclusion on the Statement is not modified in respect of the above matters
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Partner Membership Nomiddot 5135 UDIN 19513504AAAABH1676
Place New Delhi Date July 10 2019
S Bhandari amp Co Oswa Sunil amp Company Cha1tered Accountants Chartered Accountants P-7 Tilak IVlarg C Scheme 71 Daryaganj Jaipur- 302 005 New De lhi - 110 002
Independent Auditors Review Report on Consolidated Unaudited Quarterly Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)
To the Board of Directors of Himachal Futuristic Communications Limited
1 We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results (the Statement) of Himachal Futuristic Communications Limited (the Parent) and its subsidiaries (the Parent and its subsidiaries together referred to as the Group) and its share of the net loss after tax and total comprehensive loss of its jointly controlled entity for the quarter ended June 30 2019 being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obliga tions and Disclosure Requirements) Regulations 2015 as amended Attention is drawn to the fact that the consolidated figures for the corresponding quarter ended June 30 2018 and preceding quarter ended March 31 2019 as reported in these consolidated financial results have been approved by the Parents Board of Directors but have not been subjected to review
2 This Statement which is the responsibility of the Parents Management and approved by the Parents Board of Directors has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 Interim Financial Reporting (lnd AS 34) prescribed under Section 133 of the Companies Act 2013 read with relevant rules issued the reunder and other accounting principles generally accepted in India and in Compliance with regu lation 33 of the Listing Regulation Our responsibility is to issue a report on the Statemen t based on our review of the Statement
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 A review of interim financial information consists of making inquiries primarily of persons 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 and consequentl y 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 results of Subsidiaries namely HTL Ltd Poli xel Security Systems Pvt Ltd Raddef Private Limited Moneta Finance Pvt Ltd and HFCL Advance Systems Pvt Ltd and jointly controlled entity namely Dragon Wave HFCL India Pvt Ltd
5 Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 and 7 below and management certified separate interim financial informationfina ncial results refer red to in paragraph 8 below 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 Indian Accounting Standard and other accounting principles generally accep ted in India has not disclosed the information required to be disclosed in terms of Regu lation 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
S Bhandari amp Co Oswal Sunil amp Company Chartered Accountants CJartered Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi- 110 002
6 We did not review the interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect total revenues of Rs16870 Crore total net profit after tax of Rs 2597 Crore and total comprehensive income of Rs 2578 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results These interim financial information I financial resu lts have been reviewed by other auditors whose reports have been furnished to us by the Management and ou r conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above
Our conclusion on the Statement is not modified in respect of the above matters
7 The interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect tota l revenues of Rs1294 Crore total net profit after tax of Rs 230 Crore and total comprehensive income of Rs 226 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financ ia l results have been reviewed by one of the joint auditors of the parent co mpa ny and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of such joint audi tor
Our conclusion on the Statement is not modified in respect of the above matters
8 We did not review the interim financial information I financial results of one subsidiar y included in the consolidated unaudited financial results whose interim financial information f inancial resul ts reflect total revenue of Rs Nil total net loss after tax of Rs 016 Crore and total comprehensi ve loss of Rs 016 Crore for the quarter ended June 30 2019 as considered in the consolidated unaud ited fi nancial results The consolidated unaudited financial results also includes the Groups share of net loss after tax of Rs 065 Crore and total comprehensive loss of Rs 066 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results in respe ct of one jointly controlled entity based on their interim financial information financial results which have not been rev iewed by their auditors These interim financial results are un-reviewed and have been furnished to us by the management and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of this subsidiary and jointly controll ed entity and our report in terms of Regulation 33 (read with regulation 63) of the SEBI (Listing Ob ligation and Disclosure Requirements) Regulations 2015 read with SEBI circular in so far it rela tes to the aforesaid subsidia ry and jointly controlled entity are based solely on such un-reviewed financial information In our opinion and according to the information and explanations given to us by the Management these interim financial information I financial results are not material to the Group
Our conclusion on the Statement is not modified in respect of the above matters
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Partner Membership Nomiddot 5135 UDIN 19513504AAAABH1676
Place New Delhi Date July 10 2019
S Bhandari amp Co Oswal Sunil amp Company Chartered Accountants CJartered Accountants P-7 Tilak Marg C Scheme 71 Daryaganj Jaipur - 302 005 New Delhi- 110 002
6 We did not review the interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect total revenues of Rs16870 Crore total net profit after tax of Rs 2597 Crore and total comprehensive income of Rs 2578 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results These interim financial information I financial resu lts have been reviewed by other auditors whose reports have been furnished to us by the Management and ou r conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above
Our conclusion on the Statement is not modified in respect of the above matters
7 The interim financial information I financial results of two subsidiaries included in the consolidated unaudited financial results whose interim financial information I financial results reflect tota l revenues of Rs1294 Crore total net profit after tax of Rs 230 Crore and total comprehensive income of Rs 226 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financ ia l results have been reviewed by one of the joint auditors of the parent co mpa ny and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of such joint audi tor
Our conclusion on the Statement is not modified in respect of the above matters
8 We did not review the interim financial information I financial results of one subsidiar y included in the consolidated unaudited financial results whose interim financial information f inancial resul ts reflect total revenue of Rs Nil total net loss after tax of Rs 016 Crore and total comprehensi ve loss of Rs 016 Crore for the quarter ended June 30 2019 as considered in the consolidated unaud ited fi nancial results The consolidated unaudited financial results also includes the Groups share of net loss after tax of Rs 065 Crore and total comprehensive loss of Rs 066 Crore for the quarter ended June 30 2019 as considered in the consolidated unaudited financial results in respe ct of one jointly controlled entity based on their interim financial information financial results which have not been rev iewed by their auditors These interim financial results are un-reviewed and have been furnished to us by the management and our opinion on the consolidated unaudited financial results in so far as it relates to the amounts and disclosures included in respect of this subsidiary and jointly controll ed entity and our report in terms of Regulation 33 (read with regulation 63) of the SEBI (Listing Ob ligation and Disclosure Requirements) Regulations 2015 read with SEBI circular in so far it rela tes to the aforesaid subsidia ry and jointly controlled entity are based solely on such un-reviewed financial information In our opinion and according to the information and explanations given to us by the Management these interim financial information I financial results are not material to the Group
Our conclusion on the Statement is not modified in respect of the above matters
For S BHANDARI amp CO For OSWAL SUNIL amp COMPANY Chartered Accountants
Partner Membership Nomiddot 5135 UDIN 19513504AAAABH1676
Place New Delhi Date July 10 2019
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