Interim report
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Registered Office 33-35 Thyagraj Nagar Mkt, New Delhi - 110003 Tel.: +91.11.2462.7552 F.: +91.11.2462.0872 November 08, 2025 The Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex Bandra (E), Mumbai-400051 NSE SYMBOL : NUCLEUS The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, 25th Floor, Dalal Street, Mumbai-400001 SCRIP CODE: 531209 Dear Sirs, SUB: OUTCOME OF THE BOARD MEETING AND FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2025 Ref: Regulation 33 and 30(2) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in term of the Regulation 33 and 30(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 This has reference to our letter dated October 30, 2025, regarding the captioned subject. The Board, at their meeting held today on November 08, 2025 transacted the following items of business: Financial Results: i. Approved the Audited Standalone Financial Results with Auditor Report of the Company for the Quarter and Half Year ended September 30, 2025; ii. Approved the Un-Audited Consolidated Financial Results with Limited Review Report of the Company for the Quarter and Half Year ended September 30, 2025; The above Financials have been duly reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 08, 2025. In compliance with the said regulations, the same is also available on the website of the Company: www.nucleussoftware.com Timings of Meeting: Commencement Time: 10:00 A.M. Conclusion Time: 02:30 P.M. This is for your information and records. Thanking You Yours Sincerely For Nucleus Software Exports Limited Poonam Bhasin Company Secretary Encl: as above
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INDEPENDENT AUDITOR’S REPORT ON THE REVIEW OF THE CONSOLIDATED INTERIM FINANCIAL RESULTS To the Board of Directors of Nucleus Software Exports Limited 1. We have reviewed the accompanying Statement of unaudited consolidated interim financial results of Nucleus Software Exports Limited (“the Parent”) and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) for the quarter and half year ended September 30, 2025 (“the Statement”), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. This Statement, 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 Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable. 4. The Statement includes the results of the following entities: i. Nucleus Software Exports Limited ii. Nucleus Software Solutions Pte. Limited iii. Nucleus Software Inc. iv. Nucleus Software Japan Kabushiki Kaisha v. Nucleus Software Netherlands B.V. vi. Nucleus Software Limited vii. Nucleus Software Australia Pty. Ltd. viii. Nucleus Software South Africa (Pty.) Limited
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5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditor referred to in paragraph 6 below and unreviewed financial information referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We did not review the interim financial information of one subsidiary included in the Statement, whose financial information reflect total assets of Rs. 2,693 Lakh (before consolidation adjustment) as at September 30, 2025 and total revenue of Rs. 2,542 Lakh and Rs. 5,020 Lakh (before consolidation adjustment), total net profit (after tax) of Rs. 67 Lakh and Rs. 173 Lakh (before consolidation adjustment) for the quarter and half year ended September 30, 2025 respectively and, net cash outflows of Rs. 180 Lakh (before consolidation adjustment) for the half year ended on that date, as considered in the Consolidated Financial Results, which have been reviewed by the other auditor whose report has been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this entity, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph above. Our conclusion on the Statement is not modified in respect of this matter with respect to our reliance on the work done and report of the other auditor. 7. The Statement includes unreviewed financial information of six subsidiaries, whose financial information reflect total assets of Rs. 3,837 Lakh (before consolidation adjustment) as at September 30, 2025, and total revenue of Rs. 857 Lakh and Rs. 1,625 Lakh (before consolidation adjustment), total net profit (after tax) of Rs. 68 Lakh and Rs. 103 Lakh (before consolidation adjustment) for the quarter and half year ended September 30, 2025, respectively and net cash outflows of Rs. 499 Lakh (before consolidation adjustment) for the half year ended September 30, 2025, as considered in the Statement. This unreviewed financial information have been approved and furnished to us by the Board of Directors. Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on such financial information. In our opinion and according to the information and explanations given by the management, this financial information are not material to the Group.
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Our conclusion on the Consolidated Financial Results is not modified in respect of the above matter with respect to the financial information certified by the Board of Directors. For ASA & Associates LLP Chartered Accountants Firm Registration No. 009571N/N500006 Nitin Gupta Partner Membership No. 122499 UDIN: 25122499BMKWWE6757 Place: New Delhi Date: November 08, 2025
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INDEPENDENT AUDITOR’S REPORT ON THE AUDIT OF THE STANDALONE INTERIM FINANCIAL RESULTS To The Board of Directors of Nucleus Software Exports Limited Opinion We have audited the accompanying Statement of Standalone Interim Financial Results of Nucleus Software Exports Limited (the “Company”), for the quarter and half year ended September 30, 2025, (the “Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). In our opinion and to the best of our information and according to the explanations given to us, the Statement: a. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and b. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”) 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 total comprehensive income, and other financial information of the Company for the quarter and half year ended September 30, 2025. Basis for Opinion We conducted our audit of the Statement in accordance with the Standards on Auditing (“SAs”) specified under Section 143(10) of the Act. Our responsibilities under those Standards are further described in Auditor’s Responsibilities for the Audit of the Standalone Interim 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 standalone interim financial results for the quarter and half year ended September 30, 2025, under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.
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Management’s and Board of Directors’ Responsibilities for the Standalone Interim Financial Results This Statement, which is the responsibility of the Company’s Management and approved by the Board of Directors, has been compiled from the related audited standalone interim financial statements for the quarter and half year ended September 30, 2025. This responsibility includes the preparation and presentation of the standalone interim financial results for the quarter and half year ended September 30, 2025 that give a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with the recognition and measurement principles laid down in Ind AS 34, 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 safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone interim financial results that give a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the standalone interim financial results, the Board of Directors are responsible for assessing the Company’s ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the financial reporting process of the Company. Auditor’s Responsibilities for the Audit of the Standalone Interim Financial Results Our objectives are to obtain reasonable assurance about whether the standalone interim financial results as a whole are free from material misstatement, 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 standalone interim financial results. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the standalone interim 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 to provide a basis for our opinion. The risk of not 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.
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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 effectiveness of the Company’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors. Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations. 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 ability of the Company 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 standalone interim 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. Evaluate the overall presentation, structure, and content of the standalone interim financial results, including the disclosures, and whether the standalone interim financial results represent the underlying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audit evidence regarding the standalone interim financial results of the Company to express an opinion on the standalone interim financial results. 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 that may reasonably be thought to bear on our independence, and where applicable, related safeguards. For ASA & Associates LLP Chartered Accountants Firm Registration No. 009571N/N500006 Nitin Gupta Partner Membership No. 122499 UDIN: 25122499BMKWWD8203 Place: New Delhi Date: November 08, 2025
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(Amount in Rupees Lacs unless otherwise stated) For the year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1. REVENUE FROM OPERATIONS Income from software products and services 21,351 21,772 20,220 43,123 39,759 83,225 2. OTHER INCOME 1,616 1,796 1,902 3,412 3,407 6,626 3. TOTAL INCOME (1+2) 22,967 23,568 22,122 46,535 43,166 89,851 4. EXPENSES a) Employee benefits expense 14,753 14,555 13,674 29,308 27,496 53,464 b) Operating and other expenses 4,257 3,819 3,375 8,076 6,198 12,926 c) Finance cost 33 24 19 57 39 75 d) Depreciation, amortisation and impairment expenses 383 340 394 723 782 1,481 TOTAL EXPENSES 19,426 18,738 17,462 38,164 34,515 67,946 5. PROFIT BEFORE TAX (3-4) 3,541 4,830 4,660 8,371 8,651 21,905 6. TAX EXPENSE Net current tax expense 791 1,113 1,066 1,904 1,921 4,763 Deferred tax (credit) /charge 121 197 288 318 404 842 NET TAX EXPENSE 912 1,310 1,354 2,222 2,325 5,605 7. PROFIT FOR THE PERIOD/YEAR (5-6) 2,629 3,520 3,306 6,149 6,326 16,300 8. OTHER COMPREHENSIVE INCOME / (LOSS) A) (i) Items that will not be reclassified to profit or loss Remeasurement of the net defined liability/asset 181 (77) (492) 104 (492) (438) Equity instruments through other comprehensive income - net change in fair value (78) 424 (134) 346 (19) (193) - (ii) Tax (expense) / income relating to Items that will not be reclassified to profit or loss 13 (41) 132 (28) 135 148 B) (i) Items that will be reclassified subsequently to profit or loss Exchange differences on translation of foreign operations 205 147 222 352 205 127 Effective portion of gains and loss on hedging instruments in a cash flow hedge (61) 13 1 (48) 4 2 (ii)Tax (expense) / income relating to items that will be reclassified subsequently to profit or loss 17 (3) 0 14 0 (2) TOTAL OTHER COMPREHENSIVE INCOME / (LOSS), NET OF TAX 277 463 (271) 740 (167) (356) 9. TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR (7+8) 2,906 3,983 3,035 6,889 6,159 15,944 Profit for the period/year attributable to -Shareholders of the Company 2,629 3,520 3,306 6,149 6,326 16,300 -Non controlling interest - - - - - - Total comprehensive income attributable to -Shareholders of the Company 2,906 3,983 3,035 6,889 6,159 15,944 -Non controlling interest - - - - - - 10. Paid up Equity Share Capital (Face Value Rupees 10 each) 2,633 2,633 2,633 2,633 2,633 2,633 11. Other Equity - - - - - 78,789 12. Earnings Per Share (Rupees) (Par value Rupees 10 each) Basic 9.99 13.37 12.35 23.36 23.63 61.40 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) - Diluted 9.99 13.37 12.35 23.36 23.63 61.40 - (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) - For the six months endedFor the quarter ended NUCLEUS SOFTWARE EXPORTS LIMITED CIN : L74899DL1989PLC034594 Registered Office : 33-35, Thyagraj Nagar Market, New Delhi - 110003, India Tel: +91-120-4031400; Fax : +91-120-4031672; Email : investorrelations@nucleussoftware.com; Website: www.nucleussoftware.com PART I : STATEMENT OF CONSOLIDATED INTERIM FINANCIAL RESULTS OF NUCLEUS SOFTWARE EXPORTS LIMITED AND ITS SUBSIDIARIES FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2025
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(Amount in Rupees Lacs unless otherwise stated) For the year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 Audited Audited Audited Audited Audited Audited 1. REVENUE FROM OPERATIONS Income from software products and services 19,637 20,080 18,526 39,717 36,695 76,866 2. OTHER INCOME 1,896 2,428 2,316 4,324 3,815 7,004 3. TOTAL INCOME (1+2) 21,533 22,508 20,842 44,041 40,510 83,870 4. EXPENSES a) Employee benefits expense 12,943 12,768 12,025 25,711 24,275 47,235 b) Operating and other expenses 4,553 4,153 3,482 8,706 6,426 13,618 c) Finance cost 25 17 14 42 29 55 d) Depreciation, amortisation and impairment expenses 357 316 369 673 734 1,384 TOTAL EXPENSES 17,878 17,254 15,890 35,132 31,464 62,292 5. PROFIT BEFORE TAX (3-4) 3,655 5,254 4,952 8,909 9,046 21,578 6. TAX EXPENSE Net current tax expense 745 1,095 1,009 1,840 1,867 4,552 Deferred tax (credit) /charge 125 200 291 325 410 850 NET TAX EXPENSE 870 1,295 1,300 2,165 2,277 5,402 7. PROFIT FOR THE PERIOD/YEAR (5-6) 2,785 3,959 3,652 6,744 6,769 16,176 8. OTHER COMPREHENSIVE INCOME / (LOSS) A) (i) Items that will not be reclassified to profit or loss Remeasurement of the net defined liability/asset 181 (77) (492) 104 (492) (438) Equity instruments through other comprehensive income - net change in fair value (78) 424 (134) 346 (19) (193) (ii) Tax (expense) / income relating to Items that will not be reclassified to profit or loss 13 (41) 132 (28) 134 148 B) (i) Items that will be reclassified subsequently to profit or loss Effective portion of gains and loss on hedging instruments in a cash flow hedge (61) 13 1 (48) 4 2 (ii)Tax (expense) / income relating to items that will be reclassified subsequently to profit or loss 17 (3) 0 14 1 (2) TOTAL OTHER COMPREHENSIVE INCOME / (LOSS) , NET OF TAX 72 316 (493) 388 (372) (483) 9 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/YEAR (7+8) 2,857 4,275 3,159 7,132 6,397 15,693 10. Paid up Equity Share Capital (Face Value Rupees 10 each) 2,633 2,633 2,633 2,633 2,633 2,633 - - - 11. Other Equity - - - - - 75,700 12. Earnings Per Share (Rupees) (Par value Rupees 10 each) Basic 10.58 15.04 13.64 25.62 25.29 60.93 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) - Diluted 10.58 15.04 13.64 25.62 25.29 60.93 (Not annualised) (Not annualised) (Not annualised) (Not annualised) (Not annualised) - For the quarter ended PART I : STATEMENT OF STANDALONE INTERIM FINANCIAL RESULTS OF NUCLEUS SOFTWARE EXPORTS LIMITED FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2025 For the six months ended
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(Amount in Rupees Lacs unless otherwise stated) For the year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 Unaudited Unaudited Unaudited Unaudited Unaudited Audited a) Revenue by geographical segment India 12,256 12,670 11,434 24,926 22,749 48,000 Far East 777 699 778 1,476 1,501 2,907 South East Asia 2,500 2,618 2,312 5,118 4,403 9,904 Europe 984 1,073 1,557 2,057 2,781 4,941 Middle East 2,649 2,322 2,225 4,971 4,506 9,147 Africa 245 214 144 459 342 823 Australia 372 585 576 957 1,069 2,441 Others 1,568 1,591 1,194 3,159 2,408 5,062 Total 21,351 21,772 20,220 43,123 39,759 83,225 Less :- Inter segment revenue - - - - - - Net revenue from operations 21,351 21,772 20,220 43,123 39,759 83,225 b) Segment profit / (loss) before tax India 6,811 7,430 6,903 14,241 13,348 29,234 Far East 106 154 113 260 156 465 South East Asia (663) (593) (763) (1,256) (1,513) (1,440) Europe 372 474 669 846 1,049 1,751 Middle East 334 (92) 142 242 121 767 Africa 49 60 52 109 281 611 Australia 68 159 178 227 215 903 Others 534 653 425 1,187 844 1,980 Total 7,611 8,245 7,719 15,856 14,501 34,271 Add:- Other income 1,616 1,796 1,902 3,412 3,407 6,626 Less:- Unallocable corporate expenditure 5,686 5,211 4,961 10,897 9,257 18,992 Profit before tax 3,541 4,830 4,660 8,371 8,651 21,905 #REF! #REF! #REF!c) Segment assets India 8,902 9,418 8,113 8,902 8,113 7,789 Far East 388 375 421 388 421 542 South East Asia 2,161 2,258 2,359 2,161 2,359 3,515 Europe 350 584 703 350 703 355 Middle East 1,603 1,856 1,874 1,603 1,874 2,183 Africa 536 436 320 536 320 378 Australia 176 438 311 176 311 980 Others 1,122 918 342 1,122 342 2,209 Total 15,238 16,283 14,443 15,238 14,443 17,951 Add:- Unallocated corporate assets 1,07,720 1,06,873 1,00,293 1,07,720 1,00,293 97,344 Total assets 1,22,958 1,23,156 1,14,736 1,22,958 1,14,736 1,15,295 d) Segment liabilities India 18,765 17,926 25,029 18,765 25,029 14,193 Far East 367 304 602 367 602 350 South East Asia 4,892 5,075 4,789 4,892 4,789 4,305 Europe 195 358 494 195 494 373 Middle East 4,177 4,773 3,306 4,177 3,306 4,796 Africa 420 199 291 420 291 295 Australia 1,035 1,048 1,282 1,035 1,282 1,418 Others 1,849 1,755 1,727 1,849 1,727 1,770 Total 31,700 31,438 37,520 31,700 37,520 27,500 Add :- Unallocated corporate liabilities 6,385 6,313 5,570 6,385 5,570 6,373 Total liabilities 38,085 37,751 43,090 38,085 43,090 33,873 For the six months ended NUCLEUS SOFTWARE EXPORTS LIMITED PART II : SEGMENT REPORTING (CONSOLIDATED) For the quarter ended
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(Amount in Rupees Lacs unless otherwise stated) For the year ended Particulars 30 September 2025 30 June 2025 30 September 2024 30 September 2025 30 September 2024 31 March 2025 Audited Audited Audited Audited Audited Audited a) Revenue by geographical segment India 12,238 12,653 11,434 24,891 22,749 47,999 Far East 247 191 261 438 585 1,063 South East Asia 2,230 2,325 2,047 4,555 4,024 8,858 Europe 115 226 672 341 1,067 1,582 Middle East 2,649 2,322 2,225 4,971 4,506 9,146 Africa 245 214 144 459 342 823 Australia 372 585 576 957 1,069 2,441 Others 1,541 1,564 1,167 3,105 2,353 4,954 Total 19,637 20,080 18,526 39,717 36,695 76,866 Less :- Inter segment revenue - - - - - - Net revenue from operations 19,637 20,080 18,526 39,717 36,695 76,866 b) Segment profit / (loss) before tax India 6,796 7,415 6,905 14,211 13,352 29,280 Far East (31) (19) (166) (50) (294) (416) South East Asia (622) (467) (425) (1,089) (760) (737) Europe 43 130 336 173 433 474 Middle East 334 (92) 142 242 121 767 Africa 49 60 52 109 281 611 Australia 49 141 163 190 187 832 Others 495 623 399 1,118 791 1,919 Total 7,113 7,791 7,406 14,904 14,111 32,730 Add:- Other income 1,896 2,428 2,316 4,324 3,815 7,004 Less:- Unallocable corporate expenditure 5,354 4,965 4,770 10,319 8,880 18,156 Profit before tax 3,655 5,254 4,952 8,909 9,046 21,578 c) Segment assets India 8,894 9,393 8,108 8,894 8,108 7,821 Far East 96 72 57 96 57 256 South East Asia 1,593 1,585 1,638 1,593 1,638 2,861 Europe 1 250 318 1 318 8 Middle East 1,603 1,856 1,874 1,603 1,874 2,183 Africa 535 436 320 535 320 378 Australia 170 433 300 170 300 974 Others 1,094 863 342 1,094 342 2,209 Total 13,986 14,888 12,957 13,986 12,957 16,690 Add:- Unallocated corporate assets 1,05,317 1,04,455 97,948 1,05,317 97,948 94,355 Total assets 1,19,303 1,19,343 1,10,905 1,19,303 1,10,905 1,11,045 d) Segment liabilities India 18,725 17,877 25,015 18,725 25,015 14,179 Far East 390 332 493 390 493 451 South East Asia 4,316 4,468 3,898 4,316 3,898 3,563 Europe 145 310 399 145 399 322 Middle East 4,177 4,773 3,306 4,177 3,306 4,796 Africa 420 199 291 420 291 295 Australia 1,014 1,053 1,269 1,014 1,269 1,419 Others 1,864 1,742 1,665 1,864 1,665 1,759 Total 31,051 30,754 36,336 31,051 36,336 26,784 Add:- Unallocated corporate liabilities 6,079 5,981 5,540 6,079 5,540 5,928 Total liabilities 37,130 36,735 41,876 37,130 41,876 32,712 For the six months ended NUCLEUS SOFTWARE EXPORTS LIMITED PART II : SEGMENT REPORTING (STANDALONE) For the quarter ended
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(Amount in Rupees Lacs unless otherwise stated) As at As at As at As at 30 September 2025 31 March 2025 30 September 2025 31 March 2025 ASSETS Unaudited Audited Audited Audited Non-current assets Property, plant and equipment 4,838 4,033 4,811 4,009 Capital work in progress 16 22 16 22 Other intangible assets 110 130 103 122 Intangible assets under development 177 3 177 3 Right of use assets 1,275 670 1,185 661 Investment Property 1,256 1,271 - - Financial assets Investments 38,835 40,362 40,820 42,347 Loans 6 8 6 8 Other financial assets 21,779 12,555 21,728 12,503 Income tax asset (net) 1,056 875 1,054 875 Other non-current assets 1,192 930 1,192 930 Total non-current assets 70,540 60,859 71,092 61,480 Current Assets Financial assets Investments 28,748 23,706 28,263 23,217 Trade receivables 11,619 13,741 11,181 12,899 Cash and cash equivalents 4,223 5,046 1,741 1,885 Other bank balances 4,187 7,221 4,187 7,221 Loans 16 34 16 74 Other financial assets 65 196 14 149 Other current assets 3,560 4,492 2,809 4,120 Total current Assets 52,418 54,436 48,211 49,565 TOTAL ASSETS 1,22,958 1,15,295 1,19,303 1,11,045 1,22,958 1,15,295 1,19,303 1,11,045 EQUITY & LIABILITIES EQUITY Equity share capital 2,633 2,633 2,633 2,633 Other equity 82,240 78,789 79,540 75,700 Total equity attributable to equity holders of the company 84,873 81,422 82,173 78,333 Non- controlling interest - - - - Total Equity 84,873 81,422 82,173 78,333 LIABILITIES Non-current liabilities Financial liabilities Lease liabilities 496 88 460 88 Other financial liabilities 35 - 6 - Other non-current liabilities 13 - - - Provisions 4,458 4,031 4,269 3,881 Deferred tax liabilities (net) 1,827 1,499 1,891 1,551 Total non-current liabilities 6,829 5,618 6,626 5,520 Current liabilities Financial liabilities Lease liabilities 293 112 243 103 Trade payables 1,472 1,290 1,743 1,490 Other financial liabilities 4,028 5,212 3,552 4,670 Provisions 770 556 579 423 Current tax liabilities (net) 107 925 2 680 Other current liabilities 24,586 20,160 24,385 19,826 Total current liabilities 31,256 28,255 30,504 27,192 TOTAL EQUITY AND LIABILITIES 1,22,958 1,15,295 1,19,303 1,11,045 CONSOLIDATED STANDALONE Particulars NUCLEUS SOFTWARE EXPORTS LIMITED PART III : STATEMENT OF BALANCE SHEET
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(Amount in Rupees Lacs unless otherwise stated) For the year ended 30 September 2025 30 September 2024 31 March 2025 Unaudited Unaudited Audited A. Cash flow from operating activities Net profit before tax 8,371 8,651 21,905 Adjustment for: Depreciation, amortisation and impairment expenses 723 782 1,481 Exchange (gain) / loss on translation of foreign currency accounts (net) (160) (28) 30 Dividend received from non-current investment - (44) (44) Interest income on financial assets- carried at amortised cost (1,453) (1,207) (2,514) MTM (gain) on investments - (1,983) (3,800) Net (gain) / loss on sale of investments - (93) (122) (Profit) / Loss on sale of property, plant and equipment (net) (28) - - Unwinding of interest on security deposit 1 - - Interest expense on lease liability 25 19 32 Bad debts and allowance / provision for doubtful trade receivables / advances / other current assets 228 (145) (160) Withholding tax charged off 258 305 467 Discounting of staff loan and security deposit (8) (15) (25) Deferred lease income on Security deposit received (2) - - Operating profit before working capital changes 7,955 6,242 17,250 Adjustment for (increase) / decrease in operating assets Trade receivables 2,217 7,102 3,331 Loans 21 14 42 Other assets 816 (236) (12) Adjustment for increase / (decrease) in operating liabilities Trade payables 188 (213) (356) Provisions and other liabilities 4,366 8,579 (1,222) 15,563 21,488 19,033 Income taxes paid (net) (3,157) (3,190) (3,939) Net cash from operating activities (A) 12,406 18,298 15,094 B. Cash flow from investing activities Acquisition of property, plant and equipment and intangible assets under development (1,685) (536) (1,522) Proceeds from sale of property, plant and equipment 37 - - Net (purchase)/sale of mutual funds, tax free bonds and preference shares (2,913) 1,869 5,675 Bank deposits, FDR's (net) and other bank balances not considered as cash and cash equivalents (6,046) (6,600) (6,523) Interest received on fixed deposits, tax free bonds 806 437 248 Dividend received from investments - 44 44 Net cash (used in) investing activities (B) (9,801) (4,786) (2,078) C. Cash flow from financing activities Principal repayment of lease liabilities (134) (135) (280) Interest paid on lease liabilities (25) (19) (32) Buyback of equity shares including tax thereon - (8,921) (8,921) Interim dividend / Final dividend paid (3,291) (3,347) (3,347) Net cash (used in) financing activities (C) (3,450) (12,422) (12,580) Net increase/ (decrease) in cash and cash equivalents (A+B+C) (845) 1,090 436 Opening cash and cash equivalents 5,046 4,580 4,580 Exchange difference on translation of foreign currency bank accounts 22 2 30 Closing cash and cash equivalents 4,223 5,672 5,046 PART IV : STATEMENT OF CASH FLOWS (CONSOLIDATED) NUCLEUS SOFTWARE EXPORTS LIMITED For the six months ended Particulars
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(Amount in Rupees Lacs unless otherwise stated) For the year ended 30 September 2025 30 September 2024 31 March 2025 Audited Audited Audited A. Cash flow from operating activities Net profit before tax 8,909 9,046 21,578 Adjustment for: Depreciation, amortisation and impairment expenses 673 734 1,384 Unrealised exchange (gain) / loss on translation of foreign currency accounts (net) (196) (46) 36 Dividend received from current investments - - - Dividend received from non-current investment - (44) (44) Dividend received from subsidiary companies (903) (396) (396) Interest income on financial assets- carried at amortised cost (1,452) (1,208) (2,516) Discounting of staff loan and security deposit (6) (13) (21) MTM (gain) on investments (1,566) (1,965) (3,765) Net (gain) / loss on sale of investments - (93) (122) (28) - - Interest expense on lease liability 23 17 28 Bad debts and allowance / provision for doubtful trade receivables / advances / other current assets 228 (145) (200) Withholding tax charged off 196 228 329 Operating profit before working capital changes 5,878 6,115 16,291 Trade receivables 1,599 6,547 3,179 Loans 61 14 43 Other assets 1,068 90 (532) Trade payables 251 (300) (342) Provisions and other liabilities 4,261 8,585 (963) 13,118 21,051 17,676 Income taxes paid (net) (2,355) (3,055) (3,808) Net cash from operating activities (A) 10,763 17,996 13,868 B. Cash flow from investing activities Acquisition of property, plant and equipment and intangible assets under development (1,972) (533) (1,506) 34 - - Net (purchase)/sale of mutual funds, tax free bonds and preference shares (1,255) 2,240 6,020 Bank deposits, FDR's (net) and other bank balances not considered as cash and cash equivalents (6,047) (6,600) (6,523) Interest received on fixed deposits, tax free bonds 806 - 248 Dividend received from investments - 44 44 Dividend from subsidiary company 903 396 396 Net cash (used in) investing activities (B) (7,531) (4,453) (1,321) C. Cash flow from financing activities Principal repayment of lease liabilities (110) (94) (228) Interest paid on lease liabilities (23) (17) (28) Buyback of equity shares including tax thereon - (8,921) (8,921) Interim dividend / Final dividend paid (3,291) (3,347) (3,347) Net cash used in financing activities (C) (3,424) (12,379) (12,524) Net increase/ (decrease) in cash and cash equivalents (A+B+C) (192) 1,164 23 Opening cash and cash equivalents 1,885 1,829 1,829 Exchange difference on translation of foreign currency bank accounts 48 33 33 Closing cash and cash equivalents 1,741 3,026 1,885 Particulars NUCLEUS SOFTWARE EXPORTS LIMITED PART IV : STATEMENT OF CASH FLOWS (STANDALONE) Adjustment for increase / (decrease) in operating liabilities Proceeds from sale of property, plant and equipment (Profit) / Loss on sale of property, plant and equipment (net) Adjustment for (increase) / decrease in operating assets For the six months ended
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NOTES: 1. 2. 3. 4. 5. 6. By the order of the Board For Nucleus Software Exports Limited VISHNU R DUSAD Managing Director Place : Noida Date: 8 November 2025 The consolidated and the standalone interim financial results for the quarter and six months ended 30 September 2025 were reviewed by the Audit Committee and have been approved and taken on record by the Board of Directors at its meeting held on 8 November 2025. Property, plant and equipment and intangible assets used in the Group's business cannot be specifically identified with any of the reportable segments, as these are used interchangeably between various segments. The Company in its Board meeting on 22 August 2024 has approved the buyback of 4,48,018 Equity Shares (maximum buy back shares) comprising of 1.67% of the total paid up equity capital of the Company at a price of Rs. 1,615/- per Equity Share (“Maximum Buyback Price”) payable in cash for an aggregate amount not exceeding Rs. 72.35 Crore (“Maximum Buyback Offer Size”), excluding transaction costs and taxes. The Settlement of Buyback was done on 23 September 2024 and 4,48,018 Equity Shares bought back were extinguished on 30 September 2024. The Board of Directors on 16 May 2025 have recommended a payment of Final Dividend of Rs.12.50 per share (on equity share of par value of Rs.10 each) for the year ended 31 March 2025. The payment was approved by shareholders at the annual general meeting held on 28 July 2025. This dividend was paid on 31 July 2025. The Board of Directors on 23 May 2024 had recommended a payment of Final Dividend of Rs.12.50 per share (on equity share of par value of Rs.10 each) for the year ended 31 March 2024. The payment was approved by shareholders at the annual general meeting held on 15 July 2024. This dividend was paid on 24 July 2024. Financial results for the all the periods presented have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 ( as amended from time to time ) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable. The statutory auditors have carried out an audit of the standalone interim financial results of Nucleus Software Exports Limited (‘the Company’ or ‘the Holding Company’) and a limited review of the consolidated interim financial results of the Company and its subsidiaries (the Holding Company and its subsidiaries together referred to as ‘the Nucleus Software Group’ or "the Group") for the quarter and six months ended 30 September 2025. The statutory auditors have expressed an unmodified audit opinion and review conclusion respectively on these financial results.