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-103700000.00 141600000.00 0.00 -219300000.00 -186700000.00 0.00 -186700000.00 0.00 -406000000.00 -103700000.00 -509700000.00 -495500000.00 89500000.00 -104200000.00 -599700000.00 437700000.00 1 -0.74 -0.74 -0.45 -0.45 -1.19 -1.19 1) In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this Statement of Unaudited Consolidated Financial Results for the quarter ended and half year ended September 30, 2023 ( Unaudited Consolidated Financial Results ) of TVS Supply Chain Solutions Limited (the Holding Company or the Company ), its subsidiaries (the Holding Company along with subsidiaries together referred to as the Group ) and joint venture has been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on November 06, 2023 and have been subject to a limited review by the statutory auditor of the Company. 2) The figures for the quarter and half year ended September 30, 2022 has neither been reviewed nor audited by the Statutory auditor of the Company. However, the management has taken necessary care and diligence to ensure that the financial results are fairly stated. 3) The figures for the year ended March 31, 2023 has been extracted from the general purpose financial statements which was audited by the Statutory auditor of the Company. 4) The Unaudited Consolidated Financial Results of the Group have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. 5) The Company has completed an Initial Public Offer ( IPO ) of 44,670,050 Equity Shares at the face value of Re.1/- each at an issue price of Rs.197/- per Equity Share, comprising of offer for sale of 14,213,198 shares by Selling Shareholders and fresh issue of 30,456,852 shares. The Equity Shares of the Company are listed on BSE Limited ( BSE ) and National Stock Exchange of India limited ( NSE ) on August 23, 2023. 6) Details of the exceptional items are as follows: a) During the quarter and half year ended September 30, 2023, the Group disposed off its step-down subsidiary Circle Express Limited, UK (Circle Express) to an identified buyer for an aggregate consideration of GBP 2.1 million as a strategic sale. Net loss on such disposal amounting to Rs.38.53 Crores has been disclosed an exceptional item in these financial results. The Group has treated Circle Express as a discontinued operation. Accordingly, the financial results of Circle Express are separately disclosed from continuing operations. Further, the financial results of Circle Express for the quarter and half-year ended September 30, 2022 and the year ended March 31, 2023 has been restated in accordance with Ind AS 105 - Non-current assets held for sale and discontinuing operations. b) During the quarter and half year ended September 30, 2023, the Group disposed off 832,933 shares in its equity accounted investee, TVS Industrial & Logistics Park Private Limited (TVSILP) for a consideration of Rs.51.3 Crores. Gain from the disposal amounting to Rs. 35.3 Crores has been disclosed as an exceptional item in these financial results. c) Compulsorily Convertible Preference Shares (CCPS) aggregating Rs. 556.16 Crores were converted into equity shares on July 27, 2023 at a price of Rs. 167.55 per Equity Share. During the quarter ended June 30, 2023 and half year ended September 30, 2023, fair value changes on conversion of these instruments aggregating Rs.23.17 Crores has been expensed off and disclosed as an exceptional item in these financial results. The fair value changes are non-cash and does not entail any cash outflow. d) During the year ended March 31, 2023, the Company expensed certain expenses incurred in connection with initial public offering amounting to Rs. 10.00 Crores which are not in the nature of share issue expenses and accordingly disclosed these as exceptional items. 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