August 14, 2019

E-FILING
To
1. The Manager, 2. The Manager, Listing Department,
Corporate Relationship Dept., NATIONAL STOCK EXCHANGE OF INDIA LTD.,
BSE LIMITED, "Exchange Plaza", C-1 , Block-"G",
Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Sandra (E},
Dalal Street, MUMBAI- 400 051
MUMBAI- 400 001
Script Code: 526725 NSE Symbol: SANDESH (EQ.)

Re.: Outcome of the Board Meeting held on August 14, 2019 (Standalone and Consolidated Un-audited
Financial Results for the quarter ended June 30, 2019)

Dear Sir I Madam,

Pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended , we hereby inform and submit that:
1. The Board of Directors of the Company at its meeting held today, have considered, approved and taken on
record the Standalone and Consolidated Un-audited Financial Results set out in compliance with Indian
Accounting Standards (lnd-AS) for the Quarter ended June 30, 2019.
2. The copy of the said Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30,
2019 (along with the Limited Review Report of the Statutory Auditors), which were duly reviewed and
recommended by the Audit Committee and thereby approved by the Board of Directorsj is enclosed herewith.

The aforesaid financial results are also available on the website of the Company www.sandesh.com.

The Board meeting commenced at 5:30 p.m. and concluded at 6:40 p.m.

Kindly take the same on your records.

Thanking you,

Yours sincerely,
FOR, THE SANDESH LIMITED

)M4J11
DHAVAL
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7-'Y. _.-;.·~~)/
COMPANY SECRETARY AT~-~::>.
Encl.: As Above

THE SANDESH LIMITED (CIN : L22121GJ1943PLC000183)

REGD . OFFICE : SANDESH BHAVAN , LAD SOCIETY ROAD , B/H . VASTRAPUR GAM , P.O. BODAKDEV, AHMEDABAD-380 054.
PHONE :· (079) 40004319, 40004175 , FAX NO . 91-079-40004242. E-mail : secretarial@sandesh .com , cs@sandesh .com
J VISIT US : VvWW.SANDESH.COM
S G D G & ASSOCIATES LLP
Chartered Accountant s
LIMITED REVI EW REPORT ON. UNAUDITED STANDALONE QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF

TH E SANDESH LIMITED

1. We have reviewed the accompanying statement of Unaudited Standa lon e Financ ial Results ("Results") of Th e
Sandesh Limited (':the Company") for the quarter ended June 30, 2019 bei ng s_
u bmitted by t he Company
pursuant to the requirement of Regu lation 33 of the SEBI (Listing Obligations an d Disclo sure Req ui rements)
Regulations, 2015, as amended ('the Regulation') read wi th SEBI Circu lar No. CIR/CFD/CMD l/44/ 2019 dated
March 29, 2019 ('the Circu lar' ).

2. The preparation of the state~1ent in accordance with th e recognition and measurement princip les laid down in
th e Indian Accounting Standard 34. Interim Fina ncial Reporting (ln d AS 34) prescribed under Section 133 of the
Companies Act, 2013, and SEBI Circular No . CIR/CFD/CMD1/44/2019 dated March 29, 2019 is th e respons ibil_ity
of Company' s Management and has been approved by the Board of Directors. Our responsibili ty is to express
co nclu sion on St atement ba sed on our review .

j _ We cond ucted our review of the Statement in acco rd ance with the Standard on Review Engagement s (SRE) 2410
"Review of Interim Financial Informa tion Performed by the Independent Aud itor of the Entity", issued by the
Institute of Chartered Accountants of India . This standard requires that we plan and perform th e re vi ew to obtain
moderate assurance as to whether the Standalone Financial Statements are free of material· misstatement. A
review is limited primarily to inqu iri es of company personnel and ana lytical procedures applied to f inancia l data
and thus prov id es less as.surance than an audit. We have not performed an audit and accordinGlY, we do not
exp ress an audi t op ini on.

ll . Based on our revi ew conducted as above, nothing has come to our atten tion that ca uses us to bel ieve that th e
accompanying Statement, prepared in accorda nce with applicable Ind ian Accounting Standards spec ified under
Section 133 of th e Companies A~t, 2013 read with Rule 7 of the Companies (Accounts ) Rules, 2014 and other
recognized accounting practices and polici es has not disclosed the information required to be Clisclo sed in terms
of R.egu lation 33 of the SEBI (Listing Obliga tion and Disclosure Requirements) Regu la t ion, 2015, read with SEBI
Circular No. CII\/CFD/FAC/62/20J 6 dated July 5, 2016, including the manner in which it is to be disclosed, or that
it contains any material misstatement.

5. The Financia l results of the company for th e quarter ended June 30, 2018 include d in the statem ent are reviewed
by the pred ecessor auditor. The report of the predecessor auditor on the financial res ults of such period
expressed unmodified review report.

For S G D G & Associates LLP .

<~::,:"';~ Chartered Accountants
A:':?..:?~~- Firm Registration No.: W100188
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Place: Ahmedabad
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Date: August 14, 2019 :::_......_ Partner
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Membership No. : 12925 5

UDIN: 19129255AAAABJ 6632

sGo G & Associates LLP, a Limited Liability Partnership with LLP Identity No. AAI-3248
s-6, Shivalik Plaza, Opp. A.M.A., ATIRA, Polytechn ic, Ambawadi, Ahmedabad- 380 015
Contact No. : +91-9974940700, 9820851518 • Email : info@sgdg .co.i n
 THE SANDESH LIMITED
CIN -L22121GJ1943PLC000183
REGD. OFFICE : " SANDESH BHAVAN", LAD SOCIETY ROAD, BIH. VASTRAPUR GAM, P.O. BODAKDEV, AHMEDABAD- 380 054.{GUJ .)
Email : i nvestorsgrievance@sandesh.com, Contact No. {079) 4000 4000,4000 4319, Fax No. {079) 4000 4242, Website : www.sandesh.com

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019

(Rs. in Lacs, except earning per share data)

For the Quarter ended For the year ended
Particulars June 30, 2019 March 31, 2019 June 30, 2018 March 31, 2019
Unaudited Audited Unaudited Audited
I Revenue From Operations 8 994.94 10 873.32 12 103.31 41687.95
II Other Income 394.34 692.59 353.68 1975.37
Il l Total Revenue {I+ II) 9 389.28 11 565.91 12 456.39 43 663.32

IV Expenses ::
a Cost of material consumed 3 769.36 3 902.92 3 693.59 15 618.63
b Changes in inventories I Cost of goods sold 8.01 10.58 2 87 5.19 2 921.5 1
c Employee Benefits Expense 810.40 941.69 82 1.61 3 323 .92
d Finance Cost 9.74 9.08 9.44 41.36
e Deprecia tion and Amortisation Expenses 209.14 228.73 212.95 885.50
f Other expen ses 2 611.27 3 066.13 2 193.22 11128.55
Total Expenses 7 417.92 8159.13 9 806.00 33 919.47

v Profit before exceptional items and tax {Ill- IV) 1971.36 3 406.78 2 650.39 9 743.85
VI Exceptional Items 2.39 {18.64) 0.10 ( 18.86)
VII Profit Before Tax (V + VI) 1973.75 3 388.14 2 650.49 9 724.99

VIII Tax Expenses ::

a Current Tax 730.00 1030.00 885.00 2 905.00
b Deferred Tax - 63.71 228.22 45.92 508.64
Total Tax 666.29 1258.22 930.92 3 413.64
IX Profit for the period {VII- VIII) 1307.46 2129.92 1719.57 6 311.35

X Other Comprehensive Income 0.00 19. 03 0.00 19.03

XI Total Comprehensive Income {IX+ X) {Comprising Profit and

1 307.46 2148.95 1719.57 6 330.38
Other Comprehensive Income for the Period)

XII Paid up Equity Share Ca pital (Face va lue of Rs. 101- each) 756.94 756.94 756.94 756.94
.XI II Reserves excluding Reva luation reserves 71587.52
XIV Earnings per Equity Share :
Ba sic- Rs. Per Share 17.27 28.14 22.72 83.38
Diluted - Rs. Per Share 17.27 28.14 22.72 83.38
NOTES:
Th e above resu lts were reviewed by the Audit Committee and th ereafter approved at th e meeting of the Board of Directors held on August 14, 2019. The same
i}
have also been subject to Limited Review by th e Statutory Auditors.

The company expect s th at finance an d tradin g ~eg m e nts will not meet t he criterias as per lnd AS 108 - 'Segment reporting' during the current financial year and
ii)
th ere is only one reportable seg ment namely Media . In view of thi s, the company has not given segment information .

The company has adopted IND AS 116- 'Leases' which is effecti ve for annual period beginnin g on or after April 01, 2019. Howeve r, As per PARA C3 of IND AS 116
iii) th e company ha s chosen that as a practical expedient not to apply th e stand ard to the contracts that were not previousl y identified as containing a lease
appl yi ng IND AS 17. Consequently adopt ion of this standard does not have any impact on profit for the period .

The Figure for the quarter ended 31st March 2019 are balancing figures between th e audited figures for the full financial year and unaudited figures for th e nine
iv)
month s end ed 31st December 2018.

v) Figures for the previ ou s periods have been regrouped Ire- arranged: whereve r considered necessary.

For and on behalf of the Board

~~#-\
'

~hivPatel
Place: Ahmedabad (DIN : 00050211}
Date : August 14, 2019 Managing Director
·-
S G D G & ASSOCIATES LLP
Chartered Accountants
LIMITED REVIEW REP ORT ON UNAUDITED CONSOLIDATED QUARTERtY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF

THE SANDESH LIMITED

t. W e have re viewed the accompanying Statement of Unaudited Consolidated Finandal Results of The
Sandesh Limited( "the Parent") and its subsidiary (the Parent and its subsidiary. togeth er referred t.o as
" the Group"), its associates, for the quarter ended June 30, 2019 ("the Statement"), bei ng submitted by
th e Parent pursuant to .the requirement of Regulation 33 of the SEBI (Listing Obligations ahd Disclosure
Requirements) Regulations, 2015, as amended('the Hegulation') · read with SEBI Circular No .
CIR/CFD/CMDl/44/2019 dated March 29, 2019 ('the Circular'). Attention is drawn to the fact that the
conso lid ated figures for the quarter ended June 30,2018 and quar~er ended March 31,2019, as reported.
in these conso lida ted financial results have been approved by the Parent's Board of qirectors, but have
not been subjected to review .

2. This Statemen t, which is the responsibility of the Parent's Management and approved by the Parent's
Board of Directors, has been prepared in accordance with the recognition and measurement principles
laid down in Ind ian Accounting Standard 34 " Interim Financial Reporting" ("lnd AS 34"), prescribed under
Section 133 of the Companies Act, 2013; and SEBI Circular No. CIR/CFD/CMD1/44/2019 dated M arch 29,
2019 and other account ing principl es generally accepted in India . Our responsibility is to express a
conclusion on the Statement based on our review.

3.· W e conducted our review of the Statement in accordance with the Standard on Rev iew Engagements
(SRE) 2410 "Review of Interim Finan cial Information Performed by the Independent Auditor of th e
Entity", issued by th e Institute of Chartered Accountants of India. A review of interim financial
inform ation consists of making inqui ries, primarily of Parent's personnel responsible for. finan cia l and
accounting matters, and appl ying analytical and other review procedures. A review is substantially less in.
scope th an an audit co nducted in accorda nce with Standards on Auditing and consequ ently does not
enable us· to obtain assurance ·that we would become aware of all significant matters that might be
id en tifi ed in an audit. Accordingly, we do not expre ss an audit opinion.
I

. We also performed procedures in accordance with the circu lar issue d by the SEBI under Regulation 33 (8)
of th e SEBI (Listin g Obli gations and Di sclosure Requirements) Regulations, 2015, as amended, to the .
extent applicable.

4. The Statement includes the results of Sand es h Digital Private Limited (a wholly owned subsi diary) and
Applewoods Estate Private Limited (associate) .

5. Ba sed on our review co ndu cted and procedures performed as stated in paragraph 3 above and based on
the consideration of the revi ew reports of the oth er aud itor referred to in para gra ph 6 below, nothing
has come to our attention that causes us to believe that the accompanying Statem ent, prepared in
accordance with th e recognition and measurement principles laid down in the aforesaid Ind ian
Accounting Standard and other accounting principles generally accepted in India, has not disclosed the·
information req uired lo be disclosed in terms of Regulation 33 of the SEBI (Listing .~5 nd
Disclosure f{ eq uirem ent s) Regul ations, 2015, as amended, including the manner in ~~~ it is C!i7 e
di sc lo sed, or that it contains any material misstatement. · ~(~;~ ~
4 H!,f£DA8AO ~

S G 0 G & Associates LLP, a Limited LiabJiity partnership with LLP Identity No. AAI .
~ ~ o"""'
5-6, Shivalik Plaza, Opp. A.M .A., ATIRA. Polytechnic, Ambawadi, Ahmedabad- 380 015
Contact No. : +91-9974940700, 9820851518 • Email : info@sgdg.co .in
6. The conso lidated financial results for the quarter ended Jurie 30, 2018 included in th e st~ tem e nt are
reviewed by th e predecessor audi tor. The report of the predecessor auditor an the con solid ated finan cial
resu lts of such period expressed unmodified review repo rt.

7. We did not review the financial results and other financial information in respect of a su bsidiary whose
financial res ults reflect total revenue of Rs. 41.02 lakhs and total profit (including other co mprehensive ·
income) Rs. 4.95 lakh s for the quarter ended June 30, 2019 as considered in the consolid ated unaudited
financial results which have been
.
audited by other auditor. The Consolidated Financial . results also
include th e Group's share of net profit (including other comprehensive income) o'f Rs . 48.46 lakh s·for·the
quarter ended on June 30, 2019, in respect of an associates as considered in the consolidated unaudited
financial results which have been audited by other auditor.

Our conclusion on the Statement is not modified in respect of the above matter.

For S G D G & Associates LLP

Chartered Accountants
Firm Registration No.: W100188
·y -"))-.!

Place: Ahm edabad

YCJ~
(Devansh Gandhi)
Date: August 14, 2019 Partner
Membership No.: 129255
UDIN : 19129255AAAABK7346
r -- - - - - - - - - - - - ---------
~~

THE SANDESH LIMITED

CIN-L22121GJ1943PLC000183
REGD. OFFICE: "SANDESH BHAVAN", LAD SOCIETY ROAD, B/H . VASTRAPUR GAM, P.O. BODAKDEV, AHMEDABAD- 380 054.(GUJ .)
Email: investorsgrievance@sandesh.com, Contact No. (079) 4000 4000,4000 4319, Fax No. (079) 4000 4242, Website: www.sandesh .com

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019

(Rs. in Lacs, except earning per share data)

For the Quarter ended For the year ended
June 30, 2019 March 31, 2019 June 30, 2018 March 31, 2019
Unaudited UnAudited Unaudited Audited
I Revenue From Operation s 9 044.43 10 920.70 12 162.23 41895 .69
II Other Income 380.37 716.22 351.83 1990.94
Ill Total Revenue (I+ II) 9 424.80 11636.92 12 514.06 43 886.63

IV Expenses: :
a Cost of material consumed 3 769.36 3 902.92 3 693 .59 15 618.63
b Changes in inventories I Cost of goods sold 8.01 10.58 2 875 .19 2 921.51
c Empl oyee Benefits Expense 824 .79 957 .081 833 .12 3 378.06
d Finance Cost 9.74 9.08 9.44 41.37
e Depreciation and Amortisation Expenses 209.14 228.73 212 .95 885.50
f Other expenses 2 626.53 3 108.39 2 205 .09 11186.81
Total Expenses 7 447.57 8 216.78 9 829.38 34 031.88

v Profit before Share of profit of Assoiciate, Exceptional items 1977.23 3 420.14 2 684.68 9 854.75
and tax {III-IV)
VI Share of Profit of Associate 48.46 3.97 1.18 84.02
VII Profit before Exceptional items and tax (V+VI) 2 025.69 3 424.11 2 685.86 9 938.77
VIII Exceptional Items 2.39 - 18.64 .10 - 18.86
IX Profit before tax (VII+VIII) 2 028.08 3 405.47 2 685.96 9 919.91
X Tax Expenses ::
a) Income tax 730 .91 1 033.71 894.18 2 930.45
b) Deferred Tax ( 63 .71) 228 .22 . 45 .92 508.58
Total Tax 667.20 1 261.93 940.10 3 439.03
XI Net Profit for the period (IX-X) 1360.88 2 143.54 1745.86 6 480.88

XII Other Comprehensive Income - 19.03 - 19.29

XIII Share in .other Comprehensive income of Associate - .47
XIV Total Other Comprehensive income (XII-XIII) - 19.03 - 18.82
Total Income (XI+XIV) (Including Other Comprehensive
XV 1360.88 2 162.57 1745.86 6 499.70
Income)

XVI Net profit attributable to

a) Owner of the company 1360.88 2 143.54 1745.86 6 480.88
b) Non Co ntrolling Interest
XVII Other Co mprehensive income attributable to
a) Owner of the company - 19.03 - 18.82
b) Non Contro ll ing Interest -.
XVIII Tota·l Comprehensive income attributable to
a) Owner of the company 1 360 .88 2 162.57 1745.86 6 499 .70
b) Non Controlling Interest
XIX Paid up Equity Share Capital (Face value of Rs. 10/- each) 7S6 .94 756 .94 756.94 756.94
XX Other equity 72 283.03
XX I Earnings per Equity Share:
i) Basic- Rs. Per Share 17.98 28.32 23 .06 85.62
II) Diluted - Rs. Per Share 17.98 28.32 23.06 85.62
 · - - - ·- ·- --··· --·---·-- -------- - --------
NOTES:
The above resL(Its were reviewed by the Audit Committee and thereafter approved at the meeting of the Board of Directors held on
i)
August 14, 2019. The same have also been subject to Limited Review by the Statutory Auditors.

Consolidated Financial Results Includes results of Sandesh Digital Private Limited (A wholly owned subsidiary) and Applewoods Estate
ii)
Private Limited (Associate).

The company expects that finance. and trading segments will not meet the criterias as per lnd AS 108 - 'Segment reporting' during the
iii) current financial year and there is only one reportable segment namely Media. In view of this, the company has not given segment
information.

The company has adopted IND AS 116 - 'Leases' which is effective for annual period beginning on or after April 01, 2019. However, As per
PARA C3 of IND AS 116 the company has chosen that as a practical expedient not to apply the standard to the contracts that were not
iv)
previously identified as containing a lease applying IND AS 17. Consequently adoption of this standard does not have any impact on profit
for the period.

The Figure for the quarter ended March of the previous year as reported in these financial results are balancing figure between the
v) aud ited figure in respect of Financial Year and published year to date figure upto the end of the third quarter of the Financial Year, which
were subjected to limited review .

For and on behalf of the Board

~~W\
~Patel
Place: Ahmedabad (DIN: 00050211)
Date : August 14, 2019 Managing Director