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

1. The above Unaudited Standalone Financial Results for the quarter ended June 30, 2023 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 4, 2023. The Standalone Financial Results of the Company have been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and the other accounting principles generally accepted in India. The Unaudited Standalone Financial Results for the quarter ended June 30, 2023 have been subjected to limited review by the Statutory Auditors of the Company.
2. The Company granted 212,073 Stock Options to its employees under Aptech ESOP 2021 Scheme to vest on fulfilling certain conditions at the end of 1st, 2nd and 3rd year from the date of grant and accordingly, the Company has been recognising compensation expense of such options under 'Employee Benefits Expenses' as 'Share Based Payment to Employees'. The Company presently estimates that 31,753 ESOPs would not vest and accordingly, compensation expense for the quarter ended June 30, 2023 is arrived at after the reversal of Rs. 19.89 Lakhs.
3. Other income includes dividend of Rs. 1,857.57 lakhs received from a subsidiary during the quarter ended June 30, 2023.
4. Income tax expense for the interim period is recognised based on the best estimate of the weighted average annual income tax rate expected for the full financial year. Income by way of dividend for which full deduction is available under Section 80M is not considered for the purpose of determining the weighted average annual income tax rate.
5. Deferred Tax for the quarter and year ended March 31, 2023 includes recognition of MAT Credit Entitlement of Rs. 1,491.44 lakhs on the basis that the Company will have sufficient taxable profits against which such unutilised credit will be available for set off.
6. The figures for the quarter ended March 31, 2023 as reported in these financial results are balancing figures between the audited figures for the full financial year ended March 31, 2023 and published year to date figures upto the end of the third quarter of the financial year ended March 31, 2023, which were subjected to limited review.