Aptech Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2023

Note:

1. The above Audited Standalone Financial Results for the quarter and year ended March 31, 2023 have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on May 24, 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. 2. With effect from April 1, 2021, the Company is gradually migrating to Student Delivery based model from Royalty based model. Due to this migration, the financial results include :(Rs. in Lakhs)

Particulars Quarter Ended Year Ended
March 31, 23 Dec 31, 22 Mar 31,22 Mar 31, 23 Mar 31, 22
Revenue from
Student Delivery 1,386.40 1,545.04 381.25 4,745.50 801.51
Direct Expenses
under other Expenses 1,066.09 1,182.12 282.52 3,599.64 588.06
Direct Contribution 320.31 362.92 98.73 1,145.86 213.45

The Comparable impact under Royalty Model for the student who have migrated to the Student Delivery model would have been as under:- (Rs. in Lakhs)

Particulars Quarter Ended Year Ended
Mar 31, 23 Dec 31, 22 Mar 31, 22 Mar 31, 23 Mar 31, 22
Revenue from
Student Delivery 360.02 355.57 140.41 1,301.36 311.78
Direct Expenses under
other Expenses 21.44 6.13 3.56 42.65 9.23
Direct Contribution 338.58 349.44 136.86 1,258.71 302.55
Net Impact (18.27) 13.48 (38.13) (112.85) (89.10)

3. 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 149,756 ESOPs would not vest and accordingly, compensation expense for the quarter and year ended March 31, 2023 is arrived at after the reversal of Rs. 56.19 Lakhs.

During the quarter ended June 30, 2022, the Company granted 215,937 Stock options to its employees under Aptech Limited - Employee Stock Option Plan 2021 (ESOP Plan) Tranche 2 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 expenses of such options under 'Employee Benefits Expense' as 'Share Based Payment to Employees' The Company presently estimates that 108,711 ESOPs would not vest and accordingly, compensation expense for the quarter and year ended March 31, 2023 is arrived at after the reversal of Rs.17.53 Lakhs.

4. Deferred Tax for the quarter and year ended March 31, 2023 includes recognition of MAT Credit Entitlement of Rs. 1491.44 lakhs on the basis that the Company will have sufficient taxable profits against such unutilised credit will be available for set off.


5. The figures for the quarter ended March 31, 2023 and the corresponding quarter ended March 31, 2022 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.

6. The Board of Directors have recommended an interim dividend of Rs. 6/- per Equity Share of Rs.10 each for the financial year 2022-23.