MPS Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Jun 2023

NOTES:
1. These results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (‘Ind AS’) notified under section 133 of The Companies Act, 2013. These results have been reviewed by the Audit Committee and upon their recommendation, approved by the Board of Directors at their meeting held on 01 August 2023. The statutory auditors of the Company has carried out limited review of the financial results for the quarter ended 30 June 2023 and an unmodified review report has been issued. The same are available with Stock Exchanges and on the Company’s website at www.mpslimited.com.
2. The figures for the three months ended 31 March 2023 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to preceeding quarter of the relevant financial year which were subject to limited review.
3. These financial results have been prepared in accordance with Indian Accounting Standards (‘Ind AS’) prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules thereunder and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated 5 July 2016.
5.The Nomination and Remuneration Committee at its meeting held on 11 April 2023, considered and approved the grant of 74,030 (Seventy Four Thousand and Thirty) options to the eligible employees of the Company and its subsidiaries under the ‘MPS Limited- Employee Stock Options Scheme 2023’.
6. During the quarter ended 30 June 2023, the shareholders vide postal ballot resolution dated 14 May 2023 approved the raising of funds through the issuance of equity shares of the Company (“Equity Shares”) or any other equity-linked securities of the Company or other securities convertible into or exchangeable for Equity Shares by way of Qualified Institutions Placement (“QIP”) in accordance with the provisions of Chapter VI of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time and other applicable laws, and/or any other permissible mode(s), in one or more of the tranches for an aggregate amount up to INR 250 Crores (Rupees Two Hundred and Fifty Crores Only), subject to necessary approvals and such other permissions, sanctions and statutory approvals, as may be required. Management is evaluating various options with respect to this QIP.
7. The Board of Directors, in their meeting held on 16 May 2023 recommended a final dividend of INR 20 (face value of INR 10 per share ) per equity share for the financial year 2022-23. This was approved by the shareholders in the Annual General Meeting held on 31 July 2023.
8. The figures for the corresponding previous quarter/year have been regrouped/reclassified, wherever to make them comparable.