Aptech Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2022

Notes :



1. The above Audited Standalone Financial Results for the quarter and year ended March 31, 2022 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on May 04, 2022. 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.



2. "In terms of Ind AS 105 “Non-Current Assets Held for Sale and Discontinued Operations”, the results of the Institutional Segment had been classified as Discontinued Operations during the year ended March 31, 2021. However, based on the subsequent developments, the Board of Directors at their meeting held on February 23, 2022 has reconsidered its earlier decision and accordingly, approved the restoration and reclassification of the Institutional Segment as Continuing Operations. Consequently, the assets, liabilities, incomes and expenses of the Institutional Segment are included under continuing operations for the current period as well as for all the prior periods presented (i.e., for prior periods as having been re-presented). "





3. "During the quarter and year ended March 31, 2022, 7,000 and 1,29,120 ESOP's have lapsed, respectively and accordingly, compensation expense for quarter and year ended March 31, 2022 reflect net of expenses. On exercise of stock options by employees in accordance with the ESOP Plan, during the quarter and year ended March 31, 2022, 76,125 and 6,74,362 Equity Shares of Rs. 10 each fully paid up were allotted, respectively.



During the quarter and year ended March 31, 2022, the Company granted 2,12,073 Stock options to its employees under Aptech Limited - Employee Stock Option Plan 2021 (ESOP Plan) to vest on fulfilling certain conditions at the end of 1st, 2nd and 3rd Year from the date of grant and accordingly, has been recognising compensation expenses of such options under 'Employee Benefits Expense' as 'Share Based Payment to Employees'. The Company presently estimates that 25,263 ESOPs may not be vested, and accordingly, ESOPs expenses for the quarter and year ended March 31, '2022 results in net of reversal of such expenses."



4. The exceptional item for the quarter and year ended March 31, 2021 is in respect of the recognition of the provision for dimunition in the value of investments as impairment to the extent of the carrying value of investments by Aptech Ventures Limited of Rs. 2,135.67 lakhs.



5. Deferred Tax for the quarter and year ended March 31, 2022 includes recognition of MAT Credit Entitlement of Rs. 1492 lakhs on the basis that the Company will have sufficient taxable profits against such unutilised credit will be available for set off.



6. During the quarter and year ended March 31, 2022, 23 and 111 franchise centres respectively, have been converted from royalty fees to student delivery based service which may have a material impact in the revenue of the Company. During the quarter and year ended March 31, 2022, the impact of such conversion on revenue is Rs. 381.25 lakhs and Rs. 801.51 lakhs respectively.



7. The figures for the quarter ended March 31, 2022 and the corresponding quarter ended March 31, 2021 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year-to-date figures upto the end of third quarter of the relevant financial years.



8. The Board of Directors have recommended an interim dividend of Rs. 5 per Equity Share of Rs. 10 each for the financial year 2021-22.