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Page 1: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro ©'

29th June 2020

Deptt. of Corporate Services- ListingBombay Stock Exchange Limitedlst Floor, Rotunda Building,Dalai Street.Mumbai - 400001

SUB: AUDITED (STANDALONE & CONSOLIDATED) FINANCIAL RESUI,JS.11gB.IHEYEAR ENDED 31ST MARCH 2020 ALONG WITH AUDITORS.REPQB!:

Respected Sin

Pursuant to Regulation 33 of the SEMI (Listing Obligations and Disclosure Requirements)Regulations, 2015, kindly find enclosed herewith Audited (Standalone & Consolidated) FinancialResults for the year ended 31st March, 2020, along with Auditors Report therein received fromM/s. Chokshi& chokshi., LLP, Statutory Auditors of the Company.

For Aurionpro Solutions Limited

Company Secretary li I l?l/\Secretaryar

Aurionpro Solutions Limited Synergia IT Park. Plot No. R-270TI.C Industrial Estate. Gautam Nagar.Near Rabble Police Station. RabatNava h.qumb81- 400 701. h.IH - INDIA

phone +91 22 4040 7070fax +91 22 4040 7080 wwwaunonpro.comCIN L99999\lH1997PLC 11163

@ P

Page 2: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro e

Aurionpro Solutions Limited

Statement of Audited Standalone FinanciaIResults for the Quarter and Year ended March 31. 2020

Quarter ended Year ended

31-Dec-19

U na ud ited

31-Mar-19

Audited

31-Mar-20

Audited

31-Mar-19

Audited

l Income(a) Revenue from Operationsjb) Otherlncome(c) Tota[[ncome [ (a) + (b) ]

Expenses(a) Software.Hardware and Other materialcost(b) Change in inventories of raw materials. finishedgoods and stock-in-tradec) Employee Benefits Expense(d) Finance Costs(e) Depreciation and amodisation Expense(f) Other Expenses

(g) T9t11.EIP'rof t/ (Lossjbef ore Exceptionalltems and Tax

:xceptionalltemsProfit/(Loss) before Tax[ 3+4 ]

ITax Expenses(a) Current Tax

Audited

26.630.541.107.27

27.737.81

33.188.572.454.58

35.643.15

2

5.210.13394.23

5,604.36

7.413.79177 .30

7,591.09

11.445.1911196

11 .557 .15

1.135.11

2.182.62396.00412.57656.77

4,839.11

56.04

3.482.35

447.37

7.991.76

(953.35)

l0.715.34

1,032.79

18.191.41

2.115.67307.75343.49564.20

7.260.83

2.017.91329.1926287

1.384.4811,032.86

8.336.02.598.43.469.26

2.957.5926.109.43

(1.385.03.

7.574.471.026.09

975.174.364.71

30.746.82

3

456

765.25 330.26 524.29 1,628.38 4,896.33

330.26 524.29 1,628.38 4.896.33

ax

7 IProfit/ (Loss) after Tax [ 5 . 6Other

9 1T

126.3342.67

596.25

;33.08}

563.17

99.9594.q 2

136.196.59

485.66(96.23)134.86

=6.96)

520 .8578.93

1,028.60:84.54:

1.596.37(392.82)3,692.78

(56.47)

944.06 3.636.31

2,363.63

21 .996 .59

petal(Face Value of

142.78 127.90

2,280.02 2.280.02 2,363.63 2,280.02

21,337.26

0.570.57

4.404.4C

563563

per equity share for the quarter

Aurionpro Solutions Limited Synergia IT Park. Plot Na. R-270T.T.C. IndustriaIEstate. Gautam NagarNear Rzlbale Police Station. Rabale.Navi f.lurnbai- 400 701 fvIH - INDIA

phonefax

.91 22 4040 7070

.91 22 4040 7080ifo:n-au rionf)ro.com

www.aunonpro.com>999FKIH 1997PLCl116

Page 3: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro €'Notes to the Standalone FinanciaIResults

    ParticularsAs at As at

31-Mar-2a 31 Mar 19

      Audited Audited

  A ASSETS      l Non Current Assets        ja) Property, Plant and Equipment 4.856 26 5.185.49

    jb) Capita Work in Progress 4B4 52 ' .469 46

    (c) Right of use assets 1.122 40      jd) Intangible Assets 1.490.18 1.586 41

    lel Financ a Assets        li) Investments 14.477.55 10 654.84

    (ii) Other FinanciaIAssets 1,347 80 1.212 20

    10 Non Current [ax Assets (net) 67730 ' .430 43

    Ig) Deferred rax Assets (net) 468 13 507.59

    jh) Other Non Current Assets 15292 17956

    S ub.totaINon-Curse nt Assets 25.077.06 22.225.98

  2 C urgent Assets        (a) Inventories 1.687 02 2.719 81

    jb) Financial Assets        li) Investments        lii) Trade Receivaoles 8,101 95 14.526.65

    lin) Cash and Cash Equivalents B02.71 1.479.21

    liv) Bank Balances other than ( ii) above 1.018.62 1.075.71

    lv) Loans 5.123 10 9.871 06

    lvi) Other FinanciaIAssets 5.925.11 1.702.22

    lc) Other C.rrent Assets 2.731 70 2.406 22

    Sub-totalC u rrent Assets 25.390.21 33,780.88

    TotaIAssets 5Q.467.27 56.006.86

             EQUITY AND LIABILITIES      l Equity        ja) Equity Share Capita 2.280 02 2.363 63

    jb) Other Equity 2' .337 26 21.996 59

    Tatar Equity 23*617.28 24.360.22

    LIABILITIES        Non Current Liabilities        ja) Financial Llabl ities        (1) Borrowings 5.497 59 5.541.93

    lii) Lease Liabllit es B15.40     jbjOther Non Current Liabilities ' .014.45 1.072 73

    lc) Provisions 48163 290 53

    Sub totaINon-Current Liabilities 7.809.07 6.905.19

    Current Liabilities        la) Financial Liabilities        (i) Borrowings 3.419 61 3.636 21

    nil Lease Llab llt es 434.10     Lni) Trade Parables        Due ta M cro and SmalIEnterprise /:6\;=' 159 1663

    Due to Other than Micro and SmalIEnterorise   6 541 ' 5 12.736.95

    liv) Other Financiail ablities ii.oc   6.408 01 4.427.95

    (b) Other Current Liabilities ]:::i:4:::= .A 1.865 59 3.579.78

    lc) Provisions <:.::.! 37087 343.93

    Sub-totalCurrent [T16iiitie: 19.040.92 24.741.45

        city and Liabilities 50.467.27 56,006 86

Page 4: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro 8

Notes to the Standalone FinanciaIResults2. Statement of Cash Flow (Rs.in lakhs)

Year endedSr IParticulars

31-Mar-20

Audited

31-Mar-19

Aud itedA Cash Flow from Operating Activities

Net profit before tax

AdjustmentsDepreciation and amortisation expensesInterest Income

Interest expensesBad debtsProvision for doubtfuldebts

Loss/(Profit) on sale of Property, Plant and Equipment(PPE)Employee Stock Purchase Scheme(ESPS)Foreign exchange (Gain)/ Loss jnetl

Operating Profit before working capitalchangesMovements in Working Capital

Decrease/(Increase) in InventoriesDecrease / (Increase) in Trade Receivables and Other AdvancesIDecrease)/Increase in Trade Payables, Otherliabilities,

1,628.38 4,896.33

729.85

(652.41)1.264.91

17.0975.36

552.06

975,17

(615.54)883,69

3.9432.46

994.7439.85

(125.07)7,085.57

(293.90)3,321.34

1,032.792.080.63

(7 .154 .39 )l4,040.9z)

(719.63)192.81

1526.82)

(1,385 03)(9.133 90)

l0.706,88187.95

7,273.52(1.896,89)5,376.63

Cash Generated/ fused injfrom OperationsIncome taxes refund/(paid}(net)

Net cash generated / (used in) from Operating Activities

B Cash flow from Investing ActivitiesPurchase of PPE and Intangible AssetsIncrease/ decrease in capex payableLoans/ Advances given to/ (repaid from) subsidiariesSa e/(Purchase) of InvestmentsInterest received

Fixed deposits with BanksNet cash generated/(used in) Investing Activities

(52.51)30.00

925.53

(5,227.41)(964.33)

(4,302.33)l0.44)

599.25

(966.94)(l0,862.20)

645,90

l78 51)1,470.41

Cash flow from Financing ActivitiesProceeds of long-term borrowings (net)Proceeds / (Repayments) of short-term borrowings (net)

Buyback of Equity SharesProceeds from issue of Equity SharesDividend paidInterest paid

Net cash generated/ (used in) from Financing ActivitiesNet Decrease in Cash and Cash Equivalents(A+B+C)

Cash and Cash Equivalents at beginning of yearand Cash Equivalents at end of period(D+E)

997.83

(1,015.13)

3,968.531.769.45

(459.72)1926.49)

l1,620.091(676.50)

1.479.21802.71

(566.74)(807.40)

4,366.03(1,119.53)2,598.741,479.21

2.20

E

s LimitedT.N

gtaInd

Rabale Police StationUunlbai- 400 701. hqH - INDIA

T Park. Plot Na. R-270.Estate. Gautam Nagai

2240422404

637N,Ih

Page 5: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro $

Notes to the Standalone FinanciaIResult

Effective 01/04/2019. the Company has adopted Ind AS 116 'Leases', using modified retrospective approach.and applied to alllease contracts existing on 01/04/2019. As permitted by the standard, the comparatives forthe earlier period/ year have not been restated. On transition, the adoption of the new standard resulted inrecognition of Right-of-Use(ROUjasset worth INR 1,380.12 Lakhs and a lease liability of INR 1,477.72 Lakhs.The effect of this adoption is insignificant on the profit for the quarter and year ended 31/03/2020 andearnings per share.

4 The Company has received optionally convertible debentures amounting to INR 3,800.00 lakhs from its whollyowned subsidiary AurofidelOutsourcing Ltd. in lieu of the equivalent loan amount granted to it

The Board of Directors in its Meeting held on 25/03/2019 (''Board Meeting"l, approved the buyback of theCompany's fully paid-up equity shares of face value of INR lO/-(Rupees Ten only) each ("Equity Shares") fromts shareholders (excluding promoters and promoters groupe via "open market" route through the stockexchanges, for a totalamount not exceeding INR 2,000 Lakhs, and at a price not exceeding INR 185 (RupeesOne Hundred Eighty-Five only) per Equity Share, payable in cash. The buyback of shares was concluded on04/10/2019 and the Company has bought back 8,36,136 Equity Shares at an aggregate amount of INR1,015.11 La khs.

6 Other Income includes foreign exchange again)/ loss of INR (190.22) Lakhs and INR (293.90) Lakhs for thequarter and year ended 31/03/2020 respectively (Quarter and year ended 31/03/2019: INR 47.02 Lakhs andNR j12s.07) Lakhs respectivelyl

7

8

9

Software development and other related expenses include purchase of materialand license of INR 631.64Lakhs and INR 7,967.67 Lakhs for the quarter and year ended 31/03/2020 respectively. IQuarter and yearended 31/03/2019: IN R 5,571.21Lakhs and INR 11,928.23 Lakhs respectivelyl

Other income for the year ended 31/03/2019 include gain of INR 1,667.74 Lakhs on sale of 15,72,327preference shares in Cyberlnc USA, one of the subsidiaries of the Company.

In the wake of economic uncertainties and the disruptions caused due to COVID-19 pandemic, the Board ofDirectors felt that it would be prudent to conserve our resources in order to meet any unforeseencontingencies. Therefore, the Board of Directors does not recommend any dividend for the FinanciaIYear2019-20

10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted onestimate basis in respect of contracts where the contractualright to consideration is based on completion ofcontractualmilestones as confirmed by the technicalteam

11. Tax expenses for the quarter and year ended 31/03/2020 reflect changes made vide Taxation LawsIAmendment) Ordinance, 2019 as applicable to the Company.

12. The figures for the earlier periods have been regrouped / reclassified wherever necessary to make themcomparable with those of the current period

13. The figures for the quarter ended 31/03/2020 & 31/03/2019 are the balancing figures between the auditedfigures in respect of the fullfinancialyear 2019-20 and 2018-19 and the published unaudited year to datefigures up to the third quarter ended 31/12/20].9 & 31/12/2018 respectively.

14. Duringthe year. Servopt Consulting Private Limited a wholly owned subsidiary of the Company has initiated aprocess for its striking off and finalorder is awaited. Accordingly, the company has considered its investment

he above subsidiary as impaired and fully provided for.lakh in

Limited Synergia IT Park. Plot No. R-270.T.T.C Industrial Estate. Gautam Nagar.Near Rabale Police Station. RabaleNaviblumbai- 400 701. MH - INDIA

phone +91 22 4040 7070fax +91 22 aoa0 7080 www. )npro.com

9bIH1997PLC

Page 6: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro '8

IS. The segment information, pursuant to the requirement of Ind AS 108 operating Segments, is given as part ofthe consolidated financial results

16. In March 2020, the World Health Organization declared COVID-19 to be a pandemic. The Company hasadopted meaSUFes to curb the spread of infection in order to protect the health of its employees and ensurebusiness continuity with minimaldisruption

The Company has considered internaland externalinfarmation while finalizing various estimates in relationto its financialstatements captions upto the date of approvalof the financialstatements by the Board ofDirectors. The actual impact of the global health pandemic may be different from that which has beenestimated, as the COVID -19 situation evolves in India and globally. The Company willcontinue to closelymonitor any materialchanges to future economic conditions

17. The Statutory Auditors of the Company have conducted audit of the standalone financialresults for the yearended 31/03/2020 pursuant to the requirement of Regulation 33 of the SEBljLODRI Regulations, 2015 andhave given an unmodified opinion in their report

18 The standalone financial results for the year ended 31/03/2020 have been extracted from the auditedstandalone financial statements prepared in accordance with the Indian Accounting Standards jlnd-AS) asprescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (IndianAccounting Standardsl Rules, 2015 and relevant amendment rules thereafter. These standalone financialresults have been reviewed by the Audit Committee and thereafter approved by the Board of Directors attheir respective meetings held on 29/06/2020.

For Aurionpro Solutions LimitefJ

Place: Nava Mumbo

Date: 29/06/2020Amit Sheth

Co-Chairman and Director

Aurionpro Soluti Limited Synergia IT Park, Plot No. R-270.T.T.C Industrial Estate. Gautam NagarNei3r Rabble Police Station. RabbleNavi f.Itimt) i- 400 701 b.IH - INDIA

phonefax

.91 22 4040 7070

.91 22 4040 7080CiN L99t)99NIH1997PLCl1163

)npIpcc

Page 7: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CHOKSHl& CHOKSHILLPChartered Accountants

INDEPENDENT AUDITOR'S REPORT

To the Board of Directors of Aurionpro Solutions Limited

Report on the Audit of the Standalone FinanciaIResults

Opinion

We have audited the accompanying standalone annualfinancialresults of Aurionpro Solutions Limited {'the Company '), forthe year ended 31.03.2020 ('the standalone financialresults'), attached herewith. being submitted by the Company pursuantto the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. 201S, asamended ('Listing Regulation ')

n our opinion and to the best of our information and according to the explanations given to us. the aforesaid standalonefinancial results

al are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; andb) give true and fair view in conformity with the applicable Indian Accounting Standards (Ind AS) and other accounting

principles generally accepted in India, of net profit and other comprehensive income and other financialinformationfor the year ended 31.03.2020.

Basis for Opinio

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section ].43(10) of theCompanies Act, 20]3 ('the Act '). Our responsibilities under those Standards are further described in the 'Auditor'sResponsibilities for the Audit of the Standalone FinanciaIResults' section of our report. We are independent of the Companyn accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India jiCAI) together with the

ethicalrequirements that are relevant to our audit of the standalone financialresults under the provisions of the Act and theRules thereunder. and we have fulfilled our other ethical responsibilities in accordance with these requirements and theCode of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for ouro pinto r '

Responsibilities of Those Charged ith Governance for the Standalone FinanciaIResults

These standalone financial results have been prepared on the basis of the standalone annual financialstatements. TheCompany's Board of Directors are responsible for the preparation and presentation of these standalone financialresults thatgive a true and fair view of the net profit and other comprehensive income and other financialinformation of the Company inaccordance with the Ind AS prescribed under Section 133 of the Act read with relevant rules issued thereunder and otheraccounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Thisresponsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act forsafeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; anddesign, implementation and maintenance of adequate internalfinancialcontrols, that weFe operating effectively for ensuringthe accuracy and completeness of the accounting records that give a true and fair view and are free from materiamisstatement, whether due to fraud or error, which have been used for the purpose of preparation of the standalonefinancialresults by the Board of Directors of the Company, as aforesaid

n preparing the standalone financialresults, the Board of Directors of the Company are responsible for assessing the abilityof the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the

concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to ceasehas no realistic alternative but to

Page I of 3

C'hokshOfHicc; 15/17

'l'c

& C'hokshtl.I.P is a I.imitcd I.iahilttl' Partnership with I.l-l' Registration No. AAC'-8qRaghaxlji'13 131dg-. (;round l;loaf. RaghavjiRoad. (iowalia Tank. Oll Kcmps ('order, l\4umbaiq

91-22-2383 69(}0 : 1:ax : 91-22-2383 6901 : \X'cb: www.chokshiandcl\okslli-mail: contact6a;chokshiundchokshi.com

Page 8: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CHoKSHI & Cl]oKSHI LLPChartered Accountants

The Board of Directors of the Company are responsible for overseeing the financialreporting process of the Company

Auditor's Responsib ries for the Audit of the Standalone Fi iancial Results

Our obiectives are to obtain reasonable assurance about whether the standalone financialresults as a whole are free frommaterialmisstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonableassurance is a high levelof assurance. but is not a guarantee that an audit conducted in accordance with SAs willalwaysdetect a materialmisstatement when it exists. Misstatements can arise from fraud or error and are considered materialif.ndividually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on thebasis of these standalone financialresults.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticismthroughout the audit. We also

dentifv and assess the risks of materialmisstatement of the standalone financialresults, whether due to fraud orerror, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from frauds higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions,misrepresentations, or the override of internalcontrol.

Obtain an understanding of internalcontrol relevant to the audit in order to design audit procedures that areappropriate in the circumstances. Under Section 14313) (i) of the Act, we are also responsible for expressing ouropinion on whether the company has adequate internal financialcontrols with reference to standalone financiastatements in place and the operating effectiveness of such controls

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relateddisclosures made by the Board of Directors

Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based onthe audit evidence obtained, whether a material uncertainty exists related to events or conditions that may castsignificant doubt on the ability of the Company to continue as a going concern. If we conclude that a materiauncertainty exists, w© are required to draw attention in our auditors' report to the related disclosures in thestandalone financialresults or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based onthe audit evidence obtained up to the date of our auditor's report. However, future events or conditions may causethe Company to cease to continue as a going concern.

Evaluate the overallpresentation, structure and content of the standalone financialresults, including the disclosures.and whether the standalone financial results represent the underlying transactions and events in a manner thatachieves fair presentation

We communicate with those charged with governance of the Company the planned scope and timing of the audit andsignificant audit findings, including any significant deficiencies in internalcontrolthat we identify during our audit

We also provide those charged with governance with a statement that we have complied with relevant ethicalrequirementsg independence, and to communicate with them allrelationships and other matters that may reasonably be thought

ndependence, and where applicable, related safeguards.

Page 2 of 3

(.'hokshi& Choks})il.I,I' is a I.imitcd l-iahility Partnership with I,I,P Registration No. AAC-8909Reed. office: 15/17. Rughuv,li '13' 131dg.. (around l;door. Ragha\:ji Road. (}owalitiTank. ofl'Kcmps Corner. IVlumbai-400036

[)1-22-2383 6900 : 1;a\ : +91-22-2383 6901 = Wcb: www.cl\okshiaDdchokshi.ci.milil= contact6i4cllokshiundchokshi.com

Page 9: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CHOKSHl& ClloKSHILLIChartered Accountants

Other Matters

The standalone financialresults include the results for the quarter ended 31.03.2020, being the balancing figure between theaudited figures in respect of the fullfinancialyear and the published unaudited year to date figures upto the third quarter ofthe current financialyear which were subject to limited review by us.

For CHOKSHl& CHOKSHILLPChartered Accountants

Firm Reg. No. 101872W/W10004S

e.

Vineet SacBnaPa rt ne r

M. No. 100770U DIN: 20100770AAAAEN9479

Place: Navi M umbaiDate: 29.06.2020

Page 3 of 3

C'hokshi & Chokshi I,I,P is a I.imitcd I.iabtlity I'artllcrship with I.I,P Registration Xo. AAC'-8909Rcgd. Office: 15/] 7. Raghaxlji'B ' Blog-, Grounds;loon. ltaghaqi Ruud, (iowalia Tank. OfTKcmps (:orncr.IMumbai-400036

1.: 1-22-2383 6900 = 1;ax : .}91-22-2383 6901 ; Wcb: www.chokshiandchokshi.comcontact6z/echo kshiall dchokshi. com

Page 10: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro '8;Aurionpro Solutions Limited

Statement of A edited Consolidated FinanciaIResults for the Quarte and Yea ended M 'ch 31, 2020

Quarter ended31-Dec-19 31-Mar-1931-Mar-20

Audited

IRs.in lakhsYear ended

31-Mar-1931-Mar-20Audited

a) Revenue from OperationsOther IncomeTotallncome

2 IExpensesand Other materialcost

(b) Change in inventories of raw materials. finished goods andstock-in-trade(c) Employee Benefits Expense(d) Finance Costs

(e) Depreciation and amortisation Expense

Other Expenses(g) TotaIExpenses [ (a) to (f) ]

3 IProfit/ (Loss) before Share of Profit of Associates:Exl I lax

4 IShare of Profit of Associates

5 ]Profit/ (Loss) before Exceptiona[[tems and Tax [ 3+4 ]6 IExceptionalltems7 IProfit / before Ta: 5+68 Imax E

a) Current Tax(Credit)Deferred Tax

9 IProfit/ floss) after Tax [ 7 -80 bother Comprehensive Income (Net of Ta:

TotalCom .ivc Income for theattributable tofor the

Equity holders of the companyNon

13 IPaid-up Equity Share Capital(Face Value of Rs.lO each)

14 IOther Equity (Excluding Revaluation Reserve)15 share

l0.306 95410.25

0.717.20

52.215.08726 81

52,941.89

7.433.40

(1.011.00)

4.512.31

764.94

4.314.5468.52348.24293.32

4.113,68375.28817.14

13,623.44

6.691.19

.826.424.219.755,079.15

43.093.76

(1.345.70)

16 .387 .89191.43

3.098.846.560.87

45.424.54

3.387.07

40.78

3.427.85

7,517.35

47.25

7.564.60

428.2

(1693.169.10

43.35

.62936.44)

6.071.93(16

6,055.84

3.193.09

(23.99)2,280.02

52.059.92

2.363.63

47.399.09

Aurionpro Solutions Limitedphonefax

.91 22 4040 7070-91 22 4040 7080

ilaDdurionpro.comwww.aurionpro.com

IN L99999N4H1997PI 6

Page 11: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro 6'Notes to the Consolidated FinanciaIResults:1. Statement of Assets and Liabilities

(Rs. it lakhs)

jhurigqpto Sdllitions Limited Synergia IT Park. Plot No. R-270.T.C Industrial Estate. Gautam Nagar.

Near Rabale Police Station. RabaleNaval\,mumbai- 400 701 MH - INDIA

phonefax

.91 22 4040 7070

.91 22 4040 7080 vww.aurionpro.comp9 9F.tH 1997PL

P

    Particulars As at As at31 Mar 2a 31-Mar 19

      Audited Audited

  A ASSETS      l Non Current Assets        la} property. plan and Equipment 6 195 93 5.372 88    lb) Cap ta Work in Progress 484 52 1.469 46    (c) Right Qf use assets 2.299 29      (d) Goodwil 6.594 21 6.166 28

    (e) Otherlntangible Assets 16,607 70 17.065 22

    (D intang b e assets under Developments 12.913 47 8.21g 69

    lg) Financial Assets        (1) Investment 4. ' 69 18 1.783 38

    (11) Otner Financ aIAssets 1347 80 1.212 20

    (h) Non Current Tax Assets (net) 306 12 1.507 02

    (i) Deferred Tax Assets (net) 4.095 87 3.421 64    0) Other Nan Current Assets 152 92 179 56

    Sub-total Nan Current Assets 55.767.01 47.397.33

  2 C u rrent Assets        jajinventor es 2664 05 2.905 72

    lb) rinancral Assets        (i) Investments        lii) Trade Receivables 13.338 17 19.023 69

    (iii) Cash and Cash Equivalents 2.001 48 3.523 08

    (lv) Bank Balances other than(lii) above 1.22g 87 1.156 00

    lv) Other FinanciaIAssets 7.499 93 2.627 57

    lc) Other Current Assets 15 066 8r 15.108 80

    S ub-totalCu trent Assets 41.800.37 44,344 86

    Total Assets 97.567.38 91.742.19             EQUITY AND LIABILITIES        Equity        [a) Equity Share Capita 2.280 02 2.363 63

    lb) other Equity 52.059 92 47.399 09    U Attributable to Owner's Qf the campan 54.339.94 49,762.72

    Non-Controlling Interest 8.755 37 4.427 09

    TotaIEquity B3,D95.31 54.189.81  2 Liabilities        Non Current Liabilities        ja) Financial Liabilities        li) Barrowlngs 5,473 71 5.615 04

    Lease Liabil 1 698 08     lb) Other non Current nab t es ' .044 45 I.D72.73

    tc) Provisions 51855 290 54

    Sub totaINon-Current Liabilities B.704.79 6.978.31

    Current Liabil ities        (a) Financial L abilities        ti) Borrowings 4.039 18 3,526.76

    lii) Lease L abilities 76721      lin) Trade Payab es        ]ue to h/ icro and SmalIEnterpnse 17 22 ' 663

    )ue to C)then than Micro ard SmalIEnterprisc 7.765 28 14.118 97

    ( v) Other F nanciaILiab t es 7.592 10 5 901 06

    lb) Other Current L abilities 4.884 67 5.022.10

    Cc) Provisions 5042B 381 72

    Id) Current lax Llabiiit es (net) 19734 1.606 83

    Sub total Current Liabilities 25.767.28 30.574.07

      Equity and Liabilities 97.567.38 91.742.19   

Page 12: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro 8;Notes to the Consolidated FinanciaIResults2. Statement of Cash Flow .Rs.in lakhs

.+Aurionpro Solutions Limited Synergia IT Park. Plot No. R-270.

T.T.C Industrial Estate. Gautam NagaiNear Rabble F'alice Station. RabalN8viMuMbdi- 400 701 1\IH - INDIA

phonefax

91 22 4040 707091 22 4040 7080 www.aunonpro.com

CIN L99999NIH1997PLCl116

Sr Particulars For the year endedMarch 31. 2020 March 31. 2019

A Cash Flow from Operating ActivitiesNet profit before taxAdjustments :

Depreciation and amortization expensesnterest Income

Interest expensesBad debtsProvision for doubtfu debts

Loss/ (profit) on sale af PPE and Intangib e AssetsGoodwilladjusted on sale of businessESPS/ Stock Option PlanForeign exchange d fferences(Gain)/Loss(net)    

 Operating Profit before working capitalchangesMovements in Working Capital

Decrease / (Increase) in InventoriesDecrease / (Increase) in Trade Receivables and Other Advancesncrease/ (decrease) in Trade Payables, Otherliabilities

6,067.99

 l4.n2.7s) tS,242.0z)

  Cash Generated from/ (used in) Operationsncome taxes refund/ (paid)

1,855.24(870.01)

B.988.44

(2.628 63)  Net cash Generated from/ (used in) Operating Activities 985.23 6.359.81

B Cash flow from Investing ActivitiesPurchase of PPE. Intangible AssetsPurchase of Investmentnterest received

nvestment in Bank Fixed deposits  (15,922 81)(1 445.17)

411 81

CI.O11 83)  Net cash used in Investing Activities (4,908.55) llr,968.00)

C Cash flaw from Financing ActivitiesProceeds from long-term borrowings (net)

proceeds from short term borrowings (net)Buyback of equity shares

Proceeds from issue of equity shares (including security premium)Dividend Paid (including Tax)

Interest paid      Net cash generated from Financing Activities 2.401.72 2.679.53

 Net(Decrease)/ Increase in Cash and Cash Equivalents(A+B+C)

Cash and Cash Equivalents at beginning of yearh and Cash Equivalents at cnd of period(D+E)

(1,521.60) [8,928.66)3 523.08 12.451.742,001 .48 3,523.08

Page 13: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro f

Notes to the Consolidated FinanciaIResults

3 Effective 01/04/2019. the Company has adopted Ind AS 116 'Leases', using modified retrospective approach,and applied to alllease contracts existing on 01/04/2019. As permitted by the standard, the comparatives forthe earlier period/ year have not been restated. On transition, the adoption of the new standard resulted inrecognition of Right-of-Use(ROU) asset worth INR 1,923.34 Lakhs and a lease liability of INR 2,056.61Lakhs.The effect of this adoption is insignificant on the profit for the quarter and year ended 31/03/2020 and earningsper share

4. Aurionpro Solutions Pte Ltd, a wholly owned subsidiary of the Company has completed the acquisition of Sl%stake in SC Soft Pte Ltd. Singapore

5. Segment Information( Rs in lakhs)

Quarter ended Year ended

NSr.. Particulars 31-Mar-20

Audited

31-Dec-19 1 31-Mar-19 31-Mar-20 1 31-Mar-19

Segment Revenue

Information technologies andconsultancy services

Sale of equipment and License

Total(a+b)

Segment Resultsnformation technologies andconsultancy servicesSale of equipment and License

Total(a+b)

Un-allowable expenses

Employee benefits expenseFinance costs

Depreciation and amortisationexpenses

I Other expensesUn-allocable income

Share of Profit of Associates

Totalprof it before tax

Unaudited I Audited Audited I Audited

8,556.12 6,694.10

4,419.86

7,329.08

7,999.68

15,328.76

32,490.81 1 34,891.04

13.011.23 17,324.04

45,502.04 1 52,215.0811,113.96

6,475.12

900.08

7,375.20

6,213.37

760.29

6,973.66

6,497.04

2,409.32

8.906.36

26,846.04

3,378.75

30,224.79

29,049.97

4,979.60

34,029.57

Less

4,314 .51468.52

4,212.72

377.25

970.60

4,113.68

375.28

16,691.19

1,826.42

16,387.89

1,191.43

3,098.841,348.24

1,293.32

410.25

817.14

aⓒ44,219.75

978.79Add

Add

1,077 .01229.17

16.47

1,950.96

1,894.94 6,560.87

726.81

360.86

47.25

7,564.60

Assets and liabilities used in the Company's business are not identified to any of the reportable segment, asthese are used interchangeably between segments. The Management believes that it is not practicable toprovide segment disclosure relating to totalassets and liabilities since a meaningfulsegregation of the availabledata is onerous

Aurionpro Solutions Limited Synergia IT Park. Plot No R-270.T.T.C Industrial Estate. Gautam NagaiNear Rabble Police Station. RabbleNava Ftlumbai- 400 701 h4H - INDIA

phonefax

,91 22 4040 7070-91 22 4040 7080

lfo@au rionpro .comrww.aurionpro.comIN L99999NIH1997PLCl1163

Page 14: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpr0 8'

The Board of Directors in its Meeting held on 25/03/2019 I''Board Meeting ''), approved the buyback of theCompany's fully paid-up eq city shares of face value of IN R lO/- {Rupees Ten only) each ("Equity Shares") franits shareholders (excluding promoters and promoters group) via "open market" route through the stockexchanges, for a totalamount not exceeding INR 2,000 Lakhs, and at a price not exceeding INR 185 (RupeesOne Hundred Eighty-Five only) per Equity Share, payable in cash. The buyback of shares was concluded on04/10/2019 and the Company has bought back 8,36.]-36 Equity Shares at a n aggregate amount of INR I,015.11Lakhs

7

8

The Company has consolidated financial results of allits subsidiary companies / jointly controlled entities /associates as per Indian Accounting Standard 110- Consolidated FinancialStatements.

Other incomelncludes foreign exchange again)/loss ofINR (194.92) Lakhs and INR(233.36) Lakhs for the quarterand year ended 31/03/2020 respectively. (Quarter and year ended 31/03/2019: INR 88.67 Lakhs and INRl47.23) Lakhs respectively)

The Company's standalone turnover, profit before tax, profit after t3x andunder

totalcomprehensive income is as

jiNR in lakhslYear Ended

3i/03/z020 1 31/03/z019(Audited) (Audited)26,630.54 33.188.571.628.38 1 4.896.331.028.60 3,692.78

944.06 3.636.31

Pa rticularsQuarter Ended

31/03/z020 31/i2/20i9 1(Audited) (Unaudited)

5,210.13.L765.25 1 330.26596.25 1 136.19

563. 17 142.78

31/03/2019

TurnoverProfit before taxProfit after taxTotalComprehensiveIncome

10. Current tax forthe quarter and year ended 31/03/2020 includes effect of reversalof earlieryears' tax provisionsequivalent to INR Niland 219.2 Lakhs respectively in respect of two overseas subsidiaries

11. As required under IND AS 115 "Revenue from Contracts with Customers", unbilled revenue is accounted onestimated basis in respect of contracts where the contractualright to consideration is based on completion ofcontractualmilestones as confirmed by technicalteam

12. The figures for the earlier periods have been regrouped/ reclassified wherever necessary to make themcomparable with those of the current period

13. The figures for the quarter ended 31/03/2020 & 31/03/2019 are the balancing figures between the auditedfigures in respect of the fullfinancialyear 2019-20 and 2018-19 and the published unaudited year to datefigures up to the third quarter ended 31/12/2019 & 31/12/2018 respectively.

14. In March 2020, the World Health Organization declared COVID-19 to be a pandemic. The £3roup has adoptedmeasures to curb the spread of infection in order to protect the health of its employees and ensure businesscontinuity with mlnimaldisruption

The group has considered internaland externalinformation while finalizing various estimates in relation to itsfinancialstatements captions upto the date of approvalof the financialstatements by the Board of Directors.The actualimpact of the globalhealth pandemic may be different from that which has been estimated, as theCOVID -19 situation evolves in India and globally. The group willcontinue to closely monitor any materia

C

FRNj 1'872W/

'n

.fb?noes to future economic conditions.

Synergia IT Park. Plot No. R-270.T.T.C. Industrial Estate. Gautam NagarNear Rabale Police Station. RabaleNava h.lome)ai- 400 701. h,IH - INDIA

phonefax

.91 22 4040 707091 22 4040 7080

[email protected]

N L99999NIH 1997PLCl1163

Page 15: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

aurionpro F '

IS. As per Regulation 33 (31(h) of the SEBljListing Obligations and Disclosure Requirements) Regulations, 2015,eighty percent of each of the consolidated revenue, assets and profits, respectively, needs to be covered underaudit. In order to comply with this requirement, two US based subsidiaries are required to be covered as partof the audit. But due to COVID-19 pandemic and consequent lockdown in major part of US, the audit of saidsubsidiaries is not conducted. Nevertheless, the above mentioned requirement has been covered to therequired extent in respect of consolidated revenue and profits and seventy three percent in respect ofconsolidated assets.

16. The Statutory Auditors of the Company have conducted audit of the consolidated financialresults for the yearended 3]./03/2020 pursuant to the requirement of Regulation 33 of the SEBI(LODR) Regulations, 2015 andhave given an unmodified opinion in their report.

17 The consolidated financial results for the year ended 31/03/2020 have been extracted from the auditedconsolidated financialstatements prepared in accordance with the Indian Accounting Standards (Ind-AS) asprescribed under Section 133 of the Companies Act, 2013 read with Rule3 of the Companies(Indian AccountingStandards) Rules, 2015 and relevant amendment rules thereafter. These consolidated financial results havebeen reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respectivemeetings held on 29/06/2020

...r '

$i.For Aurionpro Solutions Limited

Place: Navi MumboDate: 29/06/2020

Amit Sheth

/i/ co -Chairman and Director

Aurionpro Solutions Limited Synergia IT Park. Plot No. R-270,T.T.C. IndustriaIEstate. Gautam NagaiNear Rabble Police Station. RabaleN.lvi h.lumbar- 400 701. MH - INDIA

phonefax

91 22 4040 7070.91 22 4040 7080 rww.aurlonpro.com

[N L99999R4H1997PLCl1163

P nm

Page 16: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CHOKSHl& CllOKSllILLPChancred Accountants

INDEPENDENT AUDITOR'S REPORT

To the Board of Directors of Aurionpro Solutions Limited

Rep- 't on the Audit of the Consolidated Finani tl Results

Opinion

We have audited the accompanying consolidated annualfinancialresults of Aurionpro Solutions Limited(hereinafter referredto as the 'Holding Company ') and its subsidiaries (Holding Company and its subsidiaries together referred to as 'the Group '),its associates, and jointly controlled entities, for the year ended 31.03.2020 ('the consolidated financial results') attachedherewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best of our information and according to the explanations given to us. and based on theconsideration of reports of other auditors on separate audited financialstatements / financialinformation of subsidiaries.associates and jointly controlled entities, the aforesaid consolidated financialresults:

a) includes the annualfinancialresults of the entities as given in Annexure I to this report

b) are presented in accordance with the requirements af Regulation 33 of the Listing Regulations, in this regard, readwith 'Emphasis of Matter ' paragraph below; and

cl give true and fair view in conformity with the applicable Indian Accounting Standards (Ind ASjand other accountingprinciples generally accepted in India, of net profit and other comprehensive income and other financialinformationof the Group far the year ended 31.03.2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of theCompanies Act, 2013 ('the Act '). Our responsibilities under those Standards are further described in the 'Auditor'sResponsibilities for the Audit of the Consolidated FinanciaIResults' section of our report. We are independent of the Group.it's associates and jointly controlled entities in accordance with the Code of Ethics issued by the Institute of CharteredAccountants of India(ICAL) together with the ethicalrequirements that are relevant to our audit of the consolidated financiaesults under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in

accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and otherauditors in terms of their reports referred to in 'Other Matter' paragraph below. is sufficient and appropriate to provide aba sis for our opinion

Emphasis of Matt

We draw attention to note 15 of the consolidated financial results, which describe the extent of coverage of consolidatedevenue, assets and profits pursuant to the requirement of Regulation 33(3){h) of Listing Regulations. Our opinion is notmodified in respect of this matter.

Responsibilities of Those Charged with Governance for the Consolidated FinanciaIResults

These consolidated financial results have been prepared on the basis of the consolidated annualfinancialstatements. TheHolding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financiaesults that give a true and fair view of the net profit and other comprehensive income and other financialinformatian of the

Group including its associates and jointly controlled entities in accordance with the Ind AS prescribed under Section 133 ofthe Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in

Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the

li(#l£⑧:Chokshi& C'hokshil.l-l' is a I.imitcd I.iabilitl ' Partnership with I.I.I' Registration No. AAC'-8909

r17. Ragha\-.ii 'ly Blog., (around floor. RaBIn\:ji Road. (;owalia 'l'ank. Oil'Kcmps (.'ornc[. fK4umbai-'+00036:1.: .+ 91-22-2383 0900 : 1;ax : .+ 91-22-2383 6901 ; W'cb: w.\w\..chokshiandcllokshi.conTI

li-mail: contactzaJchokshiandchokshi.com

Page 17: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CFIoKSHl& CHOKSHILLPChartcrcd Accountants

Group and of its associates and jointly controlled entities are responsible for maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Group and its associates and jointly controlledentities and for preventing and detecting frauds and other irregularities; selection and application of appropriate accountingpolicies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance ofadequate internalfinancial controls, that weFC operating effectively for ensuring the accuracy and completeness of theaccounting records that give a true and fair view and are free from materialmisstatement, whether due to fraud or error,which have been used for the purpose of preparation of the consolidated financialresults by the Directors of the HoldingCompany, as aforesaid

In preparing the consolidated financialresults, the respective Board of Directors of the companies included in the Group andof its associates and jointly controlled entities, are responsible for assessing the ability of the Group and of its associates andointly controlled entities to continue as a going concern, disclosing, as applicable, matters related to going concern and usinghe going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to

cease operations, or has no realistic alternative but to do so

The respective Board of Directors of the companies included in the Group and of its associates and jointly controlled entitiesare responsible for overseeing the financial reporting process of the Group and of its associates and jointly controlledentities

Auditor's Responsibilities for the Audit of the Consolidated FinanciaIResults

Our objectives are to obtain reasonable assurance about whether the consolidated financialresults as a whole are free frommaterialmisstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonableassurance is a high levelof assurance, but is not a guarantee that an audit conducted in accordance with SAs willalwaysdetect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered materiandividually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on thebasis of these consolidated financialresults

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticismthroughout the audit. We also

dentify and assess the risks of materialmisstatement of the consolidated financial results, whether due to fraud orerror. design and perf orm audit procedures responsive to those risks, and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from fraudIs higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,misrepresentations, or the override of internalcontrol

Obtain an understanding of internalcontrolrelevant to the audit in order to design audit procedures that areappropriate in the circumstances. Under Section 143(3) (i) of the Act. wc are also responsible for expressing ouropinion on whether the company has adequate internalfinancialcontrols with reference to consolidated financiastatements in place and the operating effectiveness of such controls

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relateddisclosures made by the Board of Directors.Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based onthe audit evidence obtained, whether a material uncertainty exists related to events or conditions that may castsignificant doubt on the ability of the Group and its associates and jointly controlled entities to continue as a goingconcern. If we conclude that a materialuncertainty exists, we are required to draw attention in our auditors' report tothe related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify ouropinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However.

events or conditions may cause the Group and its associates and jointly controlled entities to cease to continue

1.1.P is a I.imitcd I.iahtlity Partnership with I.I.I' Registration Xo. AAC-890q17. Rughavji'13' 131dB., (around l:loot. l<agha\.it Road. (}owalia 'l'ank. off'Kcmps ('order. N4ut\lbai-40003(

91-22-2383 6t900 : 1;ax : .'91-22-2383 (]9{)1 ; U.'cb: www.cl\okshiandchokshi.comli-mail: contact/alchokshiandchtlkshi.com

Page 18: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CHOKSHl& CHoKSHILLPChartered Accountants

Evaluate the overall presentation, structure and content of the consolidated financial results, including thedisclosures, and whether the consolidated financial results represent the underlying transactions and eventsmanner that achieves fair presentation

Obtain sufficient appropriate audit evidence regarding the consolidated financialresults/ financialinformation of theentities within the Group its associates and jointly controlled entities to express an opinion on the consolidatedfinancial results. We are responsible for the direction, supervision and pert ormance of the audit of the financialnformation of such entities included in the consolidated financialresults of which we are the independent auditors.For the other entities included in the consolidated financialresults, which have been audited by the other auditors,such other auditors remain responsible for the direction, supervision, and performance of the audits carried out bythem. We remain solely responsible for our opinion

We communicate with those charged with governance of the Holding Company and such other entities included in theconsolidated financialresults of which we are independent auditors regarding, among other matters, the planned scope andtiming of the audit and significant audit findings, including any significant deficiencies in internalcontrolthat we identifyduring our audit

We also provide those charged with governance with a statement that we have complied with relevant ethicalrequirementsregarding independence, and to communicate with them allrelationships and other matters that may reasonably be thoughtto bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33181 of the ListingRegulations. as amended, to the extent possible.

Other Matters

jal The consolidated financialresults include the audited FinanciaIResults of subsidiaries, and ajointly controlled entity.whose financial statements / financial results / financial information reflect Group's share of total assets ofRs.59683.06 akhs as at 31.03.2020, Group's share of totalrevenue of Rs.7644.42 lakhs and Rs. 21929.75 lakhs andGroup's share of totalnet profit after tax of Rs.6086.87 lakhs and Rs.8194.62 lakhs for the quarter and year ended31.03.2020 respectively, as considered in the consolidated financial results, which have been audited by theirrespective independent auditors. The independent auditors' reports on financial statements / financial results /financialinformation of these entities have been furnished to us and our opinion on the consolidated financiaesults, in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on

the report of such auditors and the procedures perf armed by us are as stated in paragraph above.

Of the subsidiaries and a jointly controlled entity referred to above, in respect of Nineteen subsidiaries and a jointlycontrolled entity, their financial results have been prepared in accordance with accounting principles generallyaccepted in the respective countries of incorporation and the Parent's Management has converted these financiaresults from accounting principles generally accepted in in the respective countries to accounting principlesgenerally accepted in India. These financialresults are prepared from Ind AS converted financialstatements certifiedby the independent chartered accountant

(b) The consolidated financialresults include the unaudited FinanciaIResults of subsidiaries, whose financialstatements/ financialresults / financialinformation reflect Group's share of totalassets of Rs.40485.40 lakhs as at 31.03.2020,Group's share of totalrevenue of Rs.5638.33 lakhs and Rs.9005.30 lakhs and Group's share of totalnet loss after taxof Rs. 300.64 lakhs and Rs.122.10 lakhs for the quarter and year ended 31March 2020 respectively, as considered inthe consolidated financial results. These unaudited financial statements / financial results / financial information

been furnished to us by the Board of Directors and our opinion on the consolidated financialresults, in so far itamounts and disclosures included in respect of these subsidiaries, associates and jointly controlled

solely on such unaudited financialstatements/ financialresults/ financialinformation

045& Chokshil.I.P is a I.imitcd I.iability Partnership with I.I.I' Rcgistnition Xo. AA('-890{)

15/17. Raghuv.ii '13' 131dg., (around l;loaf, Raghuv:jiR(lud. (;owalia Tank. Off'Kcmps ('order. Munlbui-'loot)3:1.: + 91-22-23X3 6900 : 1;ax : -t-91-22-2383 (a9(11 : Wcb: www.chokst)iandchoks})i.cotll

:hokshuuldcho ks }li.com

Page 19: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CHOKSHl& ClloKSHILLPChartered Accountants

Of the subsidiaries referred to above, in respect of three subsidiaries, their financialresults have been prepared inaccordance with accounting principles generally accepted in the respective countries of incorporation and theParent's Management has converted these financialresults from accounting principles generally accepted in in theespective countries to accounting principles generally accepted in India. These financial results are prepared fromnd AS converted financial statements certified by the independent chartered accountant. In our opinion and

according to the information and explanations given to us by the Board of Directors, these financial statements /financialresults/ financialinformation are materialto the Group.

Our opinion on the consolidated financialresults is not modified in respect of the above matters as per para(a) and(b) above, later-a//a with respect to our reliance on work done and the reports of the other auditors and thefinancialresults/ financialinformation certified by the Board of Directors.

lc) The consolidated financialresults include the results for the quarter ended 31.03.2020, being the balancing figurebetween the audited figures in respect of the fullfinancialyear and the published unaudited year to date figuresupto the third quarter of the current financialyear which were subject to limited review by us.

For CHOKSHl& CHOKSHILLPChartered Accountants

Firm Reg. No. 101872W/W100045

Vineet SaxenaPa rt ne r

M. No. 100770UDIN: 20100770AAAAE03981

Place: Navi MumbaDate: 29.06.2020

c'hokshi& Chokshi I.I.P is a l-imitcd I.iability I'anncrship with I,I,I' Registration No, AA('-8')0')RcBd. Office: 15/17. Raga)ax:ii '13' 131dg., (around l;loon. Rail)avliRoad, (}owalia 'l'ank. OllKcmps C'order. Mumbai-'}0003b

['c1.: +01-22-2383 6 )00 : 1;ax : +01-22-23S3 ( 90] : \X'cb: wn,w.chnkshiandchokshi.cli-mitil: contitctk4chttkshiandcllokshi . com

Page 20: aurionpro...10. As required under Ind AS 115 "Revenue from Contracts with Customers'', unbilled revenue is accounted on estimate basis in respect of contracts where the contractualright

CHOKSHl& CHOKSHILLPChartered Accountants

Annexure lto the Independent Auditor's Report

Audited Consolidated FinanciaIResults for the year ended 31.03.2020 iclude results of the following entities

l2.34.5.6.7.8.9.10.1112.13.14.15.

16.17.18.19.20.21.22

23

24

25.

26.27

Cyberinc Corporation, USAAurofidelOutsourcing LimitedPT Aurionpro Solutions, IndonesiaAurionpro Solutions Pte. Ltd, SingaporeServopt Consulting Pvt. Ltdntellvisions Solutions Pvt. Ltdntellvisions Software LLC, UAESCSOFT Tech nologies Pvt. LtdSENA Systems Pvt. LtdSpike INCAurionpro Solutions PLC, UKAurionpro Solutions PTY Ltd, AustraliaIntegro Technologies Pte.Ltd. SingaporeIntegro Technologies SDN. BHD MalaysiaIntegro Technologies Co. Ltd., ThailandAurionpro Future Solutions Pte. Limited SingaporeAurionpro Market Systems Pte. Limited SingaporeIntegra Technologies Pty LimitedIntegra Technologies (Vietnam) Limited Liability CompanyIntegrosys Corporation. PhilippinesSC Soft Pte.Ltd, SingaporeShenzhen SC Trading Co. LtdSC SOFT SDN BHD, MalaysiaExtra box Pte. Ltd

Neo BNK, SingaporeAurionpro Solutions(Africa) Ltd., KenyaAurionpro fintech INC

Holding Pte. Ltd Singapore

L;llokshi& Chokshil.I.P is a I,imilcd I,iability Partnership with I.I,P Registration No. AA(:-8909Rcgd. Office: 15./17. Raghznlji']3' Tilde-, (trout\dl;loor. Raghax.ii Road. (}owalia 'l'ank. (-)I'f' Kcillps (-order. \mumbai-'+{)003C

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