Thejo Engineering Limited 41 Cathedral Road, Chennai - 600 086. India

T +91 44 42221900 F +91 44 42221910 thejo@thejo-engg.com www.thejo-engg.com

June 18, 2020 ~THEJO

The Manager, Listing Department, The National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex (Bandra East), Mumbai - 400 051.

Dear Sir,

Sub: Financial Results for the half year and year ended March 31, 2020 Scrip Code: Thejo - EQ (SM)

Pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, we are enclosing her.ewith the Audited Financial Results (Standalone and Consolidated) of the Company for the half-year and year ended March 31, 2020 as reviewed by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held today. The Auditor's Report for Financial Results (Standalone and Consolidated) for the half-year and year ended March 31, 2020 and the declaration with respect to unmodified opinion in the Audit Report are also enclosed herewith.

The Board has also recommended a dividend of 50% i.e., Rs. 5.00/- per equity share (of face value of Rs. 10/- each) for the year ended March 31, 2020, subject to the approval of the Members at the forthcoming Annual General Meeting.

The Board Meeting concluded at 2:30 PM

Kindly acknowledge receipt.

Yours faithfully, For THEJO ENGINEERING LIMITED

V.A. GEORGE MANAGING DIRECTOR DIN 01493737

Corporate Identification Number: L27209TN1986PLC012833 Reg. Office: 41 Cathedral Road, Chennai - 600 086, India. Tel: +914442221900 Fax: +914442221910 Works: lrulipattu Village, Alinjivakkam Post, Ponneri Taluk, Chennai - 600 067. Tel: +91 44 27984342

Thejo Engineering Limited 41 Cathedral Road, Chennai - 600 086. India

T +91 44 42221900 F +91 44 42221910 thejo@thejo-engg.com www.thejo-engg.com

June 18, 2020 ~THEJO

National Stock Exchange of India Limited Exchange Plaza,

Sandra Kurla Complex,

Bandra (E),

Mumbai 400051.

Dear Sir/Madam,

Sub: Declaration with respect to the Audited Financial Results

(Standalone and Consolidated) for the year ended March 31, 2020 - Reg

Ref: Our Scrip Code THEJO - EQ (SM)

Pursuant to Regulation 33 (3) (d) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (including any modifications thereof), we hereby declare

that the statutory auditors have given unmodified opinion (s) in their Audit Reports with respect of

the Financial Results (Standalone and Consolidated) for the half year and year ended March 31, 2020,

which has been approved by the Board of Directors at their Meeting held today i.e., June 18, 2020.

Kindly acknowledge receipt.

With thanks,

Yours truly,

For Thejo Engineering Limited,

V. A GEORGE

MANAGING DIRECTOR

DIN: 01493737

Corporate Identification Number: L27209TN1986PLC012833 Reg. Office: 41 Cathedral Road, Chennai - 600 086, India. Tel: +914442221900 Fax: +914442221910 Works: lrulipattu Village, Alinjivakkam Post, Ponneri Taluk, Chennai - 600 067. Tel: +914427984342

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· Brahmayya&co• ____________________ Chartered Accountants

To

The Board of Directors Thejo Engineering Limited Chennai.

We have audited the accompanying standalone statement of financial results of Thejo Engineering Limited ("the Company") for the half-year and year ended March J ! , 2020 ("the Statement"), being submitted by the Company pursuant to the requirement of Reguhtlon 33 of SEBI (Listing Obligations 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 these standalone financial results

i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

Ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit and other financial information for the half-year ended and year ended March 31, 2020.

Basis of opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company In accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 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 we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note No.13 -of the Financial results ,wherein the Company has disclosed its Assessment of the Covid-19 pandemic. As mentioned therein, the assessment of the Management does not indicate any material effect on the carrying value of its assets and liabilities of the Company on the reporting date or any adverse change in the ability of the Company to continue as a Going Concern. The assessment of the Management is dependent on the circumstances as they evolve considering the uncertainties prevailing in the economic situation. .. , :. Our opinion is not mcdifled in respect of this matter.

Management's Respo!}sibilities for the Standalone Financial Results

These half-yearly financial results as well as the year to date standaione financial results have been prepared on the basis of the audited financial statements. The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit and other financial information in accordance .. with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section I 33 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate

T:+91-044-28131128/38/48 I F:+91-044-28131158 , E: mail@brahmayya.com I www.brahmayya.com

48, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014. India.

Brahmayya&co• Chartered Accountants ------------------:-~

accounting records in accordance with the provisions _of the Act f-.'r safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as· epplicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a I

whole are free from material misstatement, whether .due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always c!etect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

I _ \..II tv vlH. di._ di

• Identify and assess the risks of material misstatement cf the standalone financial results, whether due to fraud or error, design and perform audit prccedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

• Evaluate the appropriateness of accounting policies used and +he reasonableness of accounting estimates and related disclosures 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 on the audit evidence obtained, ·vhether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our ·,::onc!usions are based on the audit evidence obtained up to the date of our auditor's repor t, However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financiai results represent the underlying transactions and events in a manner that achieves fair presentation.

48, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014. India'. 1 I

T:+91-044-28131128/38/48 I F:+91-044-28131158 E: mail@brahmayya.com I www.brahmayya.com

Brahmayya&co• ___________________ Chartered Accountants

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. ·

Other Matter

The statement includes the results for the half-year ended March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures upto six months ended September 30, 2019 which were audited by us.

For Brahmayya & Co., . Chartered Accountants Firm Regn. No. 000511 S

Place: Chennai Date: l 81h June, 2020

Partner Membership No. 203358 UD1N:20203358AAAAKL6084

3 48, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014. India.

T:+91-044-28131128/38/48 j F:+91-044-28131158 E: mail@brahmayya.com I www.brahmayya.com

Brahmayya&co• ____________________ Chartered Accountants

To

The Board of Directors Thejo Engineering Limited Chennai

We have audited the accompanying Statement of Consolidated Financial Results of Thejo Engineering Limited ("Holding Company") and its subsidiaries (holding Company and its subsidiaries together referred to as "the Group"), for the half-year and year ended March 31, 2020 ("the Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations 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 the consideration of the reports of the other auditors on separate financial statements of subsidiaries, the Statement:

I. include the financial results of the following entities:

HOLDING COMPANY Thejo Engineering Limited SUBSIDIARY COMPANIES Thejo Hatcon Industria! Services Company, Saudi Arabia Thejo Australia Pty Ltd, Australia Thejo Brasil Comercio E Servicos Ltda, Brasil Thejo Engineering LatinoAmerica SpA, Chile

II. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations, as amended; and

gives a true and fair view in conformity· with the 'aforesaid Accounting- Standards and other accounting principles generally accepted in India, of the net profits and other financial information of the Group for the half year and year ended March 31, 2020.

Ill.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143( I 0) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for, ~h,r:1"'ud.it of t!1e Consolidated Financial Results section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 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 other auditors in terms of their reports referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

48, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014. India.

T:+91-044-28131128/38/ 48 I F :+91-044-28131158 E: mail@brahmayya.com I www.brahmayya.com

Brahmayya&co- chartered Accountants -----------------

Emphasis of Matter

We draw attention to Note No.13 of the Financial results, wherein the Company has disclosed its Assessment of the Covid-19 pandemic. As mentioned therein, the assessment of the Management does not indicate any material effect on the carrying value of its assets and liabilities of the Company on the reporting date or any adverse change in the ability of the Company to continue as a Going Concern. The assessment of the Management is dependent on the circumstances as they evolve considering the uncertainties prevailing in the economic situation.

Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Consolidated Financial Results

These half-yearly financial results as well as the year to date consolidated financial results have been prepared on the basis of the consolidated financial statements.

The Holding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other financial information of the Group in accordance with the recognition and measurement principles laid down under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate, accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern· and using the 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 are responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether, due I to ,fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout theaudit. We also:

48, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014. India.

T:+91-044-28131128/38/48 I F:+91-044-28131158 E: mail@brahmayya.com I www.brahmayya.com

Brahmayya&co• __________________ Chartered Accountants

• Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on weather the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures 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 on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the· related disclosures in tha consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

I, I ,

• Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated Financial Results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion .

.-r"l'rf t,, yl,t"' d,• I

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. ·

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

48, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014. India.

T : +91- 044 - 2813 1128 / 38 / 48 I F : +91- 044 - 2813 1158 E: mail@brahmayya.com I www.brahmayya.com

Brahmayya&co- --------------------~---- Chartered Accountants

Other Matters

We did not audit the financial statements of the subsidiaries, whose financial statements reflect total assets of Rs. 7,856.72 lakhs as at March 31, 2020, total revenues of Rs. 11,622.95 lakhs and net cash inflow amounting to Rs. I, 169 lakhs for the year ended as on date, as considered in the consolidated financial statements. These financial statements of the subsidiary companies have been audited by other auditors whose reports have been furnished to us by the .Management and our opinion on the Consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of the subsidiaries and our report in terms of sub-sections (3) of 143 of the Act, insofar as it relates to the aforesaid subsidiaries, is based solely on the reports of the other auditors.

Our opinion on the consolidated Financial Results is r.ot modified in respect of matters stated above with respect to our reliance on the work done and the reports of the other auditors and the Financial Results/ financial information certified by the Board of Directors.

The statement includes the results for the half-year ended March 31, 2020 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures upto six months ended September 30, 2019 which were reviewed by us .

•••. j

Place: Chennai Date: 181h June, 2020. "'

.. ,,

I.

7 48, Masilamani Road, Balaji Nagar, Royapettah, Chennai - 600 014. India.

T:+91-044-28131128/38/48 [ F:+91-044-28131158 E: mail@brahmayya.com I www.brahmayya.com