¢ an increase in revenue from the sale of automation products under traded goods, namely:
petroleum automation products, by 25.9% to % 602.12 million for the financial year 2021 from
% 478.30 million for the financial year 2020; and

e an increase in revenue from the sale of manufactured and traded goods by 14.9% to
% 2,230.80 million for the financial year 2021 from 2 1,941.00 million for the financial year 2020
due to an increase in revenue from the sale of automation products, namely: colour automation
products, by 29.8% to = 1,119.23 million for the financial year 2021 from 2 862.26 million for the
financial year 2020, which was partially offset by a decrease in revenue from the sale of ATM and
ATM sites by 15.2% to % 509.45 million for the financial year 2021 from % 600.44 million for the
financial year 2020.

Revenue from Operations From Segments

Our revenue from Payment Solutions decreased by 2.0% to = 13,505.83 million for the financial year 2021
from % 13,784.30 million for the financial year 2020, primarily due to a decrease in revenue from digital
payment services by 13.9% to = 2,139.88 million for the financial year 2021 from % 2,485.91 million for the
financial year 2020 due to a decrease in revenue from toll and transit solutions on account of closure of the
Kochi Metro and the Bangalore Metro due to restrictions imposed as a result of the COVID-19 pandemic.

Our revenue from Banking Automation Solutions decreased by 24.2% to % 1,598.35 million for the
financial year 2021 from % 2,108.72 million for the financial year 2020, primarily due to a decrease in
revenue from ATM and ATM sites and less orders from customers for banking services and upgrades due
to lockdowns as a result of the COVID-19 pandemic.

Our revenue from Other Automation Solutions segment increased by 17.7% to 2 2,485.26 million for the
financial year 2021 from 2 2,111.41 million for the financial year 2020, primarily due to an increase in
revenue from colour automation and petroleum automation products.

Other Income. Our other income increased by 15.5% to = 382.08 million for the financial year 2021 from
% 330.83 million for the financial year 2020, primarily due to an increase in write back of lease liabilities
(net) and rent concession to 2 139.79 million for the financial year 2021 from 2 54.58 million for the
financial year 2020 due to a one-time rent concession received on rentals of ATM sites on account of
lockdowns across India due to the COVID-19 pandemic and write back of lease liabilities on rental sites in
accordance with Ind AS 116.

Our expenses were primarily determined by the cost of raw materials and components consumed, adjusted by
changes in purchase of traded goods and inventories of finished goods and traded goods, as follows:

© Cost of Raw Materials and Components Consumed. Our cost of raw materials and components
consumed decreased by 8.7% to % 2,133.91 million for the financial year 2021 from % 2,337.10 million
for the financial year 2020, primarily due to lower consumption of raw materials in line with the
decrease in sale of banking automation solutions.

¢ Purchase of Traded Goods. Our purchase of traded goods increased by 76.7% to % 535.80 million for
the financial year 2021 from % 303.20 million for the financial year 2020, primarily due to an increase
in the number of orders for petroleum automation products.

e Inventories of Finished Goods and Traded Goods. Increase in inventories of finished goods and traded
goods was % 39.62 million for the financial year 2021 as compared to a decrease of % 101.75 million for
the financial year 2020, primarily attributable to an increase in the number of orders for petroleum
automation products and an increase in the number of orders for colour automation products.

© Employee Benefit Expenses. Our employee benefits expense decreased by 1.0% to % 2,771.66 million
for the financial year 2021 from 2 2,800.76 million for the financial year 2020, primarily due to a
decrease in employee stock option scheme expense net by 54.7% to = 22.83 million for the financial
year 2021 from 250.39 million for the financial year 2020 on account of unamortised cost for
employee stock option vesting for the financial year 2021 being charged to the restated consolidated
statement of profit and loss.

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