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Ref: INF/NSE/2024-25/11 Date: May 06, 2024

To,
The Manager - Listing Compliance Department,
National Stock Exchange of India Limited,
Exchange Plaza, Bandra Kurla Complex,
Bandra East, Mumbai — 400 051,
Maharashtra, India

SCRIP SYMBOL: INFOLLION, ISIN: INEONNZ01013

Sub: Outcome of the Meeting and submission of Audited Financial Results along with Auditor’s Report
for the half year and year ended March 31, 2024

Respected Sir/Madam,

Pursuant to Reg 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
('Listing Obligations’), we hereby inform that the Board of Directors of the Company at its meeting held today
i.e., Monday, May 06, 2024, have considered, approved and taken on record inter-alia the following agenda
items:

i. Audited Financial Results (Standalone) for the Half-Year and Year ended March 31, 2024, together with
the report of Statutory Auditors thereon: The said Audited Financial Results (Standalone) prepared in
terms of Reg 33 of the Listing Obligations together with the report of Statutory Auditors thereon are
enclosed herewith.
Additionally, pursuant to Reg 33(3)(d) of the Listing Obligations, declaration with respect to the Audit
Report with unmodified opinion on the Audited Financial Results of the Company for the year ended
March 31, 2024 has also been enclosed herewith.
ii. Statement on Deviation(s) or Variation(s) for the I lalf Year ended March 31, 2024;
iii. Other business items

The results are also being uploaded on the Company’s website at https://inve: nfollion.com/financials.

The Meeting of the Board of Directors of the Company commenced at 11.45 AM. IST and concluded at 12.05
P.M.IST.

We request you to kindly take the above information on record.

Thanking you,

For Infollion Research Services Limited

L A 0

M a&fifmmh \/‘»wuw Gy,

Madhumita Pramanik
Company Secretary and Compliance Of
M. No. 35693

Infollion Research Services Limited

CIN: L!'73100DL2009PLC194077
Registered Office: 80/28, Malviya Nagar, New Delhi-110017
Corporate Office: 3rd Floor, Tower-B, Unitech Cyber Park, Sector - 39, Gurugram, HR - 122002
Phone: +91-124-4272967. | Email Id: [email protected] | Website: www.infollion.com
 INFOLLION RESEARCH SERVICES LIMITED
(FORMERLY KNOWN AS INFOLLION RESE S PRIVATE LINITED)
CIN: L73100D1 2009P1LC 194077
Regd. 80/28. Malviya Nagar, Delhi-17
Corp. 3rd Floor. Tower B, Unitech Cyber Park, Sector-39. Gurugram. HR-122003
Statement of Financial Results for the half year and year ended 31st March 2024

PARTICULARS Half Year Ended

31032024 30-092023 31032023 3103204
Unaudited Unandited Unaudited Audited Audited
INCOME,
1 Revenue fiom operations 266392 251091 196258 517483 339427
11 Other Income 123,64 3289 216 156 52 3494
I TOTAL INCOME (1+11) 2,787.56 2,543.80 1,984.74 5331.35 3.429.21

1V EXPENSES

(a) Cost of Sales 1,451.03 1,333.44 1,208.13 2,784.48 192217

(b) Employee benefits expenses 595.74 54469 41483 1,140 43 763 54
(c) Depreciation and amortisation expenses 024 019 019 043 Lo
{d) Finance costs 985 354 226 1338 461
(&) Other expenses 139.63 96.37 106.62 23599 16545

TOTAL EXPENSES 2,196.49 1978.23 1,732.03 417471 285687

V Profit before exceptional and extraordinary items and tax (I[1-1V) 5§91.07 565.57 252.71 1,156.64 572.34
VI Exceptional items - = = = E
VIL Profit before extraordinary items and tax ( V- VI) 591.07 565.57 252.71 1,156.64 57234
VI Exteaordinary liems = - - - -
IX Profit before tax (VII-VIIT) 591.07 565.57 252.71 1,156.64 5§72.34

X Tax Expense:
() Current tax expense 140.12 13939 6094 2951 14055
(b) Prior period tax expense 800 069 321 869 321
(c) Deferred tax. 9.04 259 3o0s 164 291

XI Profit / (Loss) After Tax (IX-X) 43391 422,90 185,51 856.80 a5.67
XIl Earning per equity share:?)
(1) Basic 467 455 2,00 922 458
(2) Dituted 467 455 2.00 9.22 458

I The financial results of the company has been prepared in accordance with Accounting Standards as notified by Ministry of Corporate Affairs pursuant (o section 133 of the
Companies Act, 2013 and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosurc Requirements) Regulations 2015,

2 The Statement includes the half yearly results for the year ended 315t March, 2024 being the balancing fiigure between the audited figures in respect ofthe full financial year and the
‘published unaudited figures in respect of Ist hall yeat of the current financial yea
3 The above results are reviewed by the Au it Committee and approved by the Board ofDirectors of the company in the meeting held on 6th May 2024 The auditors have conducted
an audit of these financial results
4 The requirement of "AS 17 - Segment Reporting’ is not applicable on the company The company currently operates only in one business segment viz “On-demand Contingent
Hiring”"
5 BEDS and DEPS for the half year ended 315t March 2024 are not annualized and are restated as per the weightcd average number of shares ofthe current period as per "AS 20 -
Earnings Per Share"
6 There has been a change in accounting policy during the reporting period for the correct adoption of "AS 9 - Revenue recognition”. To take retiospective effect ofthe changes as por
"AS 5 - Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies *, an addition of 2330.92 Lakh to the opening balance of Reserves and Surplus has
been made.
7 Figures of the previous periods have been regrouped wherever necessary, to correspond with the current period

Place: Gurugram For and on behalf

of Board of Directors
Date: 06 May 2024 INFOLLION RESEARCH SERVICES (:Q{&W%¥
L %)
= E
‘GAURAV MUNJAL N Yy
(MANAGING DIRECTOR) N
DIN: 02363421
 INFOLLION RESEARCH SERVICES LIMITED
DRIERLY KNOWN AS INFOLLION RESEARCH SERVICES PRIVATE LIMY
CIN: L73100D1.2009P1.C 194077
Regd 80728, Malviya Nagar, Defhi-17
Corp 3rd Floor, Tower B, Unilech Cyber Park, 0r-39, Gurugram, HR-122003

Statement of Assets & Liabi s for the year ended 31st March 2024
(Fizwiesia t Lakh)
PARTICULARS Year Ended Year Ended
31-03-2024 31032023
Audited Audited
I EQUITY AND LIABILITIES
I Sharcholders’ funds
(a) Share capital 969.09 74669
(b) Reserves and surplus 316951 515,52
(¢) Money received against share warrants -
2 Share application money pending allotment -
3 Non-Currentliabiliti
(a) Long-term borrowings 3 8
(b) Deferred tax liabilities (net) 1334 17
(<) Other Long-term liabilities - -
(d) Long-term provisions 2092 1533
4
(b) Trade Payables 72.19 7293
(©) Other current liabilities 15146 109.26
(d) Short-term provisions 28220 14181
TOTAL 4678.71 1,603.25
I ASSETS
1 Non-current assets
(a) Property Plant and Equipment and Intangible assets
(i) Property, Plant and Equipment 239 023
(i) Intangible assets = =
(iii) Capital Work In Progress 2 i
(iv) Intangible Assets Under Developments 8713 -
(b) Non-current investments - z
(c) Deferred tax assets (net) - -
(d) Long-term loans and advances s .
(¢) Other non-current assets - -
2 Currentassets
(a) Current investments 5 >
(b) Inventories - -
(©) Trade receivables 110225 593.85
(d) Cash and cash equivalents 3,12096 627.35
(¢) Short-term loans and advances s s
(£) Other current assets 365.98 38182
TOTAL 467871 1,603.25

Place: Gurugram For and on behalfof Board of Directors

Date: 06 May 2024 INFOLLION RESEARCH SERVICES

GAURAV MUNJAL
(MANAGING DIRECTOR)
DIN: 02363421
 INFOLLION RESEARCH SERVICES LIMITED
(FORMERLY KNOWN AS INFOLLION RESEARCH SERVICES PRIVATE LIMITED)
CIN: L73100DL2009PLC194077
Regd. 80/28, Malviya Nagar, Delhi-17
Corp. 3rd Floor, Tower B, Unitech Cyber Park, Sector-39, Gurugram, HR-122003

Statement of Cash Flows for the year ended 31st March 2024
(Figures in T Lakh)
Vear Ended Vear Ended
31-03-2024 31032023
PARTICULARS Audited Audited
Cash flows from operating activities
Profit before tax 115663 57234
Depreciation 043 110
Transfer to Share Based Payment Reserve 535
Fixed Assets Written Off - 091
| Additions arising from changes in Accounting Policy 33092
Transfer to Gratuity Fund 1826 18.26
Transfer to Leave Encashment Fund 1378 465
152537 597.26
[Working capital changes:
[(Increase) / Decrease in other current assets 1584 (58.37)
(increase) / Decrease in trade and other receivables (50839 (265.70)
Increase / (Decrease) in trade payables (0.74) 7293
Increase / (Decrease) in other current liabilities 4219 46,54
Cash generated from operations 107427 39266
Income taxes paid (149.24) (104.98)|
Gratuity Paid = (13.48)]
Leave Encashment Paid ©01) (733)
[Net cash from operating activities (A) 916.02 266,87
| Cash flows from investing activities
Purchase of property, plant and equipment (2.59)
Investments in Software Under Development @®7.13)
Investments in Planned Asset - Gratuity (16.00) (34.52)
[ Amount recovered from Planned Asset - Gratuity 114
Net cash From/ (used) in investing activities (B) (105.72)] (33.38)]
Cash flows from financing activities
Proceeds from issue of share capital 168332 -
Net cash used in financing activities (C) 1,683.32 -
Net increase in cash and cash equivalents (A+B-+C) 249361 233.49
Cash and cash equivalents at beginning of period 62735 39386
Cash and cash equivalents at end of period 312096 627.35
Place: Gurugram For and on behalfof Board of Directors
Date: 06 May 2024 INFOLLION RESEARCH SERVICES.

‘GAURAV MUNJAL
(MANAGING DIRECTOR)
DIN: 02363421
 A SUDESH KUMAR & CO.,
\ gl
Chartered Accountants
Auditor’s Report on Annual Financial Results of the Company pursuant to Regulation 33 of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To
The Board of Directors
INFOLLION RESEARCH SERVICES LIMITED
(Formerly Known as Infollion Research Services Private Limited)
Tower-B, 3" Floor, Unitech Cyberpark, Sector-39,
Gurugram , Haryana- 122002

Opinion

We have audited the accompanying annual financial results (“The Statement™) of M/s. Infollion Research Services Limited
(“The Company™) for the year ended 3 1% March 2024, attached herewith, being submitted by the company pursuant to the
requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as
amended) (“Listing Regulations).
In our opinion and to the best of our information and according to the explanations given to us the statement:
(i) are prepared in accordance with the requirements of Regulation 33 of the Listing Regulations;
(ii) give a true and fair view in conformity with the recognition and measurement principles laid down in the
applicable accounting standards prescribed under section 133 of the Companies Act, 2013 (“the Act™) read with
relevant rules issued thereunder and other accounting principles generally accepted in India of the net profit and
other financial information for the year ended 31 March 2024.

Basis of Opinion

We have conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the
Companies Act, 2013. Our Responsibilities under those standards are further described in the Auditor’s Responsibilities for
the audit of the financial results section of our report.
We are independent of the company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants
of India (ICAI) together with the ethical requirements that are relevant to our audit of the financial results under the
provisions of the Companies Act, 2013 and the rules thereunder, and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the code of ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of Management and Those Charged with Governance

The Financial Result has been prepared on the basis of the annual audited financial statements and has been approved by
the Company’s Board of Directors. The Company’s Board of Directors is responsible for the preparation and presentation
of the financial statements that give a true and fair view of the net profit and other financial information of the Company in
accordance with the accounting principles generally accepted in India, including the Accounting Standards prescribed under
section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in
India, and in compliance with Regulation 33 of the Listing regulations.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act
for the safeguarding of the assets of the company and for preventing and detecting frauds and other irregularities; selection
and application of the appropriate accounting policies; making judgments and estimates that are responsible and prudent;
and design, implementation and maintenance of adequate internal financial controls, that were operating efl'ccuvely for
ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presen
statement that give a true and fair view and that are free from material misstatements, whether due to fraud g

“487/41, 1ind Floor, Near Metro Station, Peera Garhi Chowk, New Delhi —110087"
Ph: +91-11-2525 3661, +91-9999025145, E-mail: [email protected]
 SUDESH KUMAR & CO.,
257 Y 35 M 5
\ Chartered Accountants

In preparing the statement. the Board of Directors are responsible for assess ing the Company’s ability to continue as a going
disclosing. as applicable, matters related to going concern and using the going concern b s of accounting unless
the Board of Directors cither intends to liquidate the company or to cease operations. or has no realis c alternative but to do
s0.
The Board of Directors is also responsible for overseeing the Company’s financial reporting process.

Au or’s Respon: ties for the Audit of the Financial Statements

Our objectives are (o obtain reasonable assurance about whether the financial results as a whole are free from material
misstatements, whether due to fraud or error and to issue an auditor’s report that includes our opinion. Reasonable
assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always
detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if.
individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:
* Identify and assess the risks of material misstatement of the financial results, whether due to fraud or error, design
and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate
1o provide a basis of our opinion. The risk ofnot detecting a material misstatement resulting from fraud is higher
than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
o Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances but not for the purpose of expressing an opinion on the operating effectiveness of
the company’s internal control.
e Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the Board of Directors.
e Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the
financial results or if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the
Company to cease to continue as a going concern.
e Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and
whether the financial results represent the underlying transactions and events in a manner that achieves fair
presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters
reasonably be thought to bear on our independence, and where applicable, related safeguards.

“487/41, 1ind Floor, Rawat Motor Wali Gali, Near Metro Station, Peera Garhi Chowk, NEW DELHI - 110087"
Ph: +91-9999025145, E-mail: [email protected]
 SUDESH KUMAR & CO.,
O\\ Chartered Accountants

Others Matters

The Statement includes the half yearly results for the year ended 31 March, 2024 being the balancing figure
between the audited figures in respect of the full financial year and the published unaudited figures in respect of 1%
half year of the current financial year.

For Sudesh Kumar & Company

Chartered Accountants
FRN: 019305N

LY A
SK Gupta yrrl>
Proprietor
M. No. 502040

Place: New Delhi

Date: 06/05/2024
UDIN: 9450 2048 BKT0Q QTLYQ

“487/41, lind Floor, Rawat Motor Wali Gali, Near Metro Station, Peera Garhi Chowk, NEW DELHI -110087”
Ph: +91.9999025145, E-mail: [email protected]
May 06, 2024

To,
The Manager - Listing Compliance Department,
National Stock Exchange of India Limited,
Exchange Plaza, Bandra Kurla Complex,
Bandra East, Mumbai – 400 051,
Maharashtra, India

SCRIP SYMBOL: INFOLLION, ISIN: INE0NNZ01013

Sub: Declaration with respect to the Audit Report with unmodified opinion to the Audited Financial
Results (Standalone) for the year ended March 31, 2024

Respected Sir/Madam,

In reference to the captioned subject, please note that the Board of Directors of the Company at its meeting
held on May 06, 2024, approved the Audited Financial Results (Standalone) for the half year and year ended
March 31, 2024.

Pursuant to Regulation 33 (3) (d) of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, as amended, we hereby declare and confirm that Statutory Auditors
of the Company M/s. Sudesh Kumar & Co., Chartered Accountants (FRN: 019305N), have been issued an
Audit Report with unmodified opinion on the Audited Financial Results (Standalone) of the Company for the
year ended March 31, 2024.

The same may please be taken on record.

Thanking you,

For Infollion Research Services Limited For Infollion Research Services Limited

MADHUMITA Digitally signed by

MADHUMITA PRAMANIK
ABHISHEK JHA Digitally signed by ABHISHEK JHA
Date: 2024.05.06 12:21:10 +05'30'
PRAMANIK Date: 2024.05.06 12:20:27
+05'30'

Madhumita Pramanik Abhishek Jha

Company Secretary and Compliance Officer Chief Financial Officer
M. No. 35693

Infollion Research Services Limited (Formerly known as Infollion Research Services Pvt. Ltd.)
CIN: L73100DL2009PLC194077
Registered Office: 80/28, Malviya Nagar, New Delhi, DL-110017
Corporate Office: 3rd Floor, Tower-B, Unitech Cyber Park Sector - 39 Gurgaon 122002
Phone: +91-124-4272967 |Email Id: [email protected]| Website: www.infollion.com