Exicom Tele-Systems Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2024
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2024
1 The above Audited Standalone And Consolidated Financial Results for the Fourth Quarter And Year Ended March 31, 2024 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on May 28, 2024.
2 The above Financial Results are in compliance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time.
3 (a) The Parent Company has completed an Initial Public Offer ('IPO') and equity shares of the Parent Company were listed on National Stock Exchange of India Limited ('NSE') and BSE Limited ('BSE') on March 05, 2024. The summary of IPO is follows:
The Offer consists of: No. of Shares Face Value Issue Price Premium Amount (Rs.
Offer for Sale 7,042,200 Rs. 10/- Rs. 142/- Rs. 132/- 9,999.92
Total 30,211,200 Rs. 10/- Rs. 142/- Rs. 132/- 42,899.90
(b) The Company has also undertaken the Pre-IPO Placement, of 5,259,257 Equity Shares at an issue price of Rs. 135.00 per Equity Share (including a premium of Rs. 125.00 per equity share) for cash consideration aggregating to Rs. 7,100.00 lakhs.
(c) Total offer expenses (including Pre-IPO offer expenses) are Rs. 3,595.89 lakhs (including the goods & Service tax, where applicable). The proportionate offer expenses are to be recovered from the selling shareholders based on their proportion of the offer for sale.
The utilization of the initial public offer proceeds is summarized below:
Sr No. Item Head Amount as proposed Amount utilized Unutilised amount
in the Offer Document during the quarter as at March 31, 2024
(Jan24 - Mar24)
1 Part financing the cost 15,147.00 1,780.00 13,367.00
towards setting up of prod
uction/ assembly lines at the
planned manufacturing facility at
Telangana
2 Repayment/pre-payment, in 5,030.00 5,030.00 -
part or full, of certain borrowings
of our Company
3 Part-funding incremental working 6,900.00 - 6,900.00
capital requirements
4 Investment in R&D and product 4,000.00 - 4,000.00
development
5 General Corporate Purpose 6,036.00 1,350.00 4,686.00
6 Offer related expenses 2,887.00 2,206.00 681.00
Total 40,000.00 10,366.00 29,634.00
Out of the Net proceeds which were unutilised as at March 31, 2024 Rs. 28,602.38 Lakhs are invested in Fixed Deposits and Rs. 7.01 Lakhs is held in the Company's Monitoring agency Account, while the balance amount is held in the current bank account.
4 The Audited Standalone And Consolidated Financial Results For The Fourth Quarter And Year Ended March 31, 2024 represents the result of the Company including its subsidiary companies, namely Exicom Tele-Systems (Singapore) Pte. Ltd. and Horizon Tele-Systems Sdn Bhd.
*Refer Financial Result uploaded on website for complete notes Notes:
1. other intangible assets includes right of use assets + intangible assets
3. Trade payables includes total outstanding dues of micro and small enterprises and total outstanding dues of creditors other than micro and small enterprises i.e Rs. 1026.03 lakhs + Rs. 19107.38 lakhs = Rs. 20133.41 lakhs
4. Others current financial liabilities includes others + lease liabilities i.e. Rs. 281.71 lakhs + Rs. 1688.72 lakhs = Rs. 1970.43 lakhs.