Ajcon Global Services Ltd. — Interim / Quarterly Report 2021

Nov 11, 2021

i

Department of Corporate Services 25" Floor, PJ Towers Dalal Street Mumbai-400001

Dear Sir/ Madam,

Scrip Code: 511692

Subject: Outcome of Board Meeting and submission of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2021.

Pursuant to Regulation 30 read with Scheduled IIl and Regulation 33 of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Board of Directors of the Company at its meeting held today i.e November 11, 2021 inter-alia, approved the following:

• 1. Unaudited Financial Results (standalone and consolidated) for the quarter and half year ended September 30, 2021.
• 1. Limited Review Reports issued by Statutory Auditors of the Company on Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2021, 3. Noted the CEO/ CFO Certificate received in accordance with Regulation 33(2) (a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 1. Noted the Compliances under listing Regulations with Stock Exchange for the Quarter ended on September 30, 2021.
• 1. Noted the transactions with related parties during the Quarter ended September 30, 2021.

We are enclosing herewith the following documents for your records as under:-

• a) Standalone & Consolidated Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2021.
• b) Limited Review on Standalone & Consolidated Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2021.

The Meeting of the Board of Directors commenced at 4:00 pm and concluded at 5:30 pm

You are requested to kindly take the same on records.

Thanking You, Yours Sincerely,

For Ajcon Global Services Ltd. Ankit <4 Aj (Executive Director & CFO)

Regd & Cormceaie Office CO L040 Sse LOGt iit

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER,2021

	UNAUDITED						AJCON GLOBAL SERVICES LIMITED	FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER,2021					(Rs. In Lacs)
			QUARTER ENDED		STANDALONE	HALF YEAR ENDED	YEAR ENDED		QUARTER ENDED		CONSOLIDATED HALF YEAR ENDED		YEAR ENDED
	PARTICULAR		Unaudited Unaudited Unaudited Unaudited Unaudited				30.09.2021 30.06.2021 30.09.2020 30.09.2021 30.09.2020 31.03.2021 Audited	{30.09.2021 Unaudited	30.06.2021 Unaudited	30.09.2020 Unaudited	30.09.2021 [Unaudited	30.09.2020 Unaudited	31.03.2021 Audited
1	a) Revenue from Operations Fees & Brokerage income	145.68	109.76	105.48	255.44	161.35	433.73	145.68	109.76	105.48	255.44	161.35	433.73
	Sale of Products Net Gain on fair value change Other Operating Income	314.55 55.65 (1.17)	246.52 93.74 3.80	2,460.24 85.54 (3.12)	561.08 149.39 2.63	2,771.84 212.27 6.87	4,136.75 138.10 (0.97)	314.55 55.65 (1.35)	246.52 93.88 3.80	2,460.24 85.56 (3.12)	561.08 149.53 2.45	2,771.84 212.30 6.87	4,136.75 138.38 (0.92)
	Interest income Total Revenue from Operation	- 514.71	- 453.82	- 2,648.14	- 968.54	- 3,152.32	- 4,707.61	15.77 530.30	15.18 469.15	27.81 2,675.98	30.95 999.45	57.78 3,210.13	75.22 4,783.16
	b) Other Income	2.16	1.77	1.58	3.93	4.83	102.93	4.08	3.67	1.67	7.76	8.03	112.31
	Total Revenue (a +b)	516.87	455.59	2,649.73	972.46	3,157.15	4,810.54	534.38	472.82	2,677.64	1,007.20	3,218.16	4,895.47
2	Expenditure a) Cost of Sales	292.62	262.08	2,457.94	554.70	2,752.33	4,126.45	292.62	262.08	2,457.94	554.70	2,752.33	4,126.45
	b) Net Loss on fair value change c) Employee Benefit Expenses	- 57.72	- 56.55	- 49.59	- 114.27	- 93.39	- 207.25	- 61.65	- 62.74	- 53.20	- 124.39	- 100.62	- 229.11
	d) Depreciation and Amortization e) Finance Cost	9.23 12.84	9.30 9.82	10.23 18.06	18.53 22.66	20.45 32.66	39.85 57.29	9.23 16.77	9.30 13.77	10.23 31.17	18.53 30.54	20.45 60.80	39.85 91.89
	f) Administrative & Other Expenses	70.43	56.36	68.63	126.79	133.82	225.77	72.20	58.74	74.01	130.94	142.16	251.54
3	Total Expenditure _ Profit/(Loss) before Exceptional item (1-2)	442.84 74.03	394.11 61.48	2,604.44 45.29	836.95 135.52	3,032.65 124.51	4,656.62 153.92	452.47 81.91	406.64 66.18	2,626.54 51.10	859.11 148.09	3,076.35 141.81	4,738.85 156.61
4 5	Exceptional Item _ Profit/(Loss) before Extra-ordinary items (3-4)	- 74.03	- 61.48	- 45.29	- 135.52	- 124.51	- 153.92	- 81.91	- 66.18	- 51.10	- 148.09	- 141.81	- 156.61
6 7 8	Tax Expenses _ Profit/(Loss) for the period (5-6) Minority Interest (-)	14.75 59.29 -	- 61.48 -	6.50 38.79 -	14.75 120.77 -	18.07 106.44 -	(0.74) 154.67 -	16.70 65.21 0.92	1.21 64.97 0.43	7.82 43.28 1.55	17.91 130.18 1.36	21.12 120.69 3.03	(0.21) 156.82 0.36
9 10	Net Profit after minority interest (7-8) Other Comprehensive Income	59.29	61.48	38.79	120.77	106.44	154.67	64.29	64.54	41.72	128.82	117.67	156.47
	a) Item that will not be reclassified to profit and loss b) Item that will be reclassified to profit and loss Other Comprehensive Income for the	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
42	period (a+b) 11 Total Comprehensive Income (9+10) Paid up equity share capital ( face value Rs.	- 59.29	- 61.48	- 38.79	- 120.77	- 106.44	- 154.67	- 64.29	- 64.54	- 41.72	- 128.82	- 117.67	- 156.47
13	10/- per share) Earning per share (before and after extraordinary Items) (Equity share of (EPS IRs. 10/- each) not annualised)	611.62	611.62	611.62	611.62	611.62	611.62	611.62	611.62	611.62	611.62	611.62	611.62

Particulars	As at September
ASSETS	30, 2021	As at March 31, 2021
Financial Assets
1. (a) Cash and cash equivalents
(b) Bank balance other than (a) above	223.14	163.62
(c) Receivables	163.05	62.76
Trade receivables (1)
(11) Other receivables	52.93	94.19
(d) Loans	0.00 0.00	0,00
(e) Investments	315.27	0.00 315,27
(f) Other financial assets	151.56	154.93
Sub-total	905.96	790.78
Non-Financial Assets 2.
(a) Current tax assets (net)	0.00	0.00
(b) Deferred tax assets (net)	0.00	0.00
(c) Property, Plant and Equipment	141.66	148.17
(d) Right of use assets	18.39	28.90
{e) Intangible assets under development	0.00	0.00
(f) Other intangible assets	0.00	0.00
(g) Other non-financial assets (h) Inventories	7.02	8.63
Sub-total	1113.44	964.05
Total	1280.51	1149.75
LIABILITIES AND EQUITY	2,186.47	1,940.53
LIABILITIES
(1) Financial Liabilities
Payables (a)
(1) Trade payables
Total outstanding dues of micro (i)	0.00	0.00
(ii) Total outstanding dues of creditors other	225.76	171.97
(II) Other payables
Total outstanding dues of micro (i)	0.00	0.00
(ii) Total outstanding dues of creditors other	26.12	53.45
(b) Borrowings (Other than debt securities)	257.37	158.00
(c) Other financial liabilities	40.00	56.75
Sub-total	549.26	440.17
(2) Non-Financial Liabilities
(a) Current tax liabilities (net)	0.00	0.00
(b) Deferred tax liabilities (net)	1.16	1.16
(c) Provisions	28.50	12.42
(d) Other non-financial liabilities	0.00	0.00
Sub total	29.66	13.58

(3) EQUITY
(a) Equity share capital
(b) Other equity	611.62	611.62
Sub total	995.93	875.16
Total	1,607.55	1,486.78
	2,186.47	1,940.53

Standalone Cash Flow Statement For the Half Year Ended 30th September 2021

AJCON GLOBAL SERVICES LIMITED
Standalone Cash Flow Statement For the Half Year Ended		30th September 2021
Particulars	for the half year ended For the year ended	(Rs. in Lacs)
Cash Flows From Operating Activities	30/09/2024	March 31, 2021
Net Profit/(Loss) before taxation, and extraordinary item Adjustments for:	135.52	153.92
Depreciation & Amortisation	18.53
Employee Stock Option Expenses Provisions for Gratuity	0.00	39.85 0.00
Provisions for Leave Encashment	0.00	0.00
Expenses Interest	0.00 0.00	0.00
Capital Gain on Investments Income Interest	0.00	0.00 0.00
Net Loss/(Gain) on Fair Value of Investments	0.00	0.00
Net Loss/(Gain) on sale of PPE & Intangible Assets	0.00 0.00	0.00
Operating Profit](Loss) Before Working Gapital Ghanges (Increase)/Decrease in Trade Receivables	154.05	0.00 193.77
(Increase)/Decrease in Loans	41.26	106.09
(Increase)/Decrease in Other Financial Assets	0,00 3.37	143.65 49.55
(Increase)/Decrease in Inventory (Increase)/Decrease in Other Non—Financial Assets	-149.39	-138.10
Increase/(Decrease) in Provisions	1.64	2.71
Increase/(Decrease) in Trade Payables	16.08 53.80	3.51 112.52
Increase/(Decrease) in Other Payables (Increase)/Decrease in Other Financial Liabilities	=27.33	28.96
Increase/(Decrease) in Other Non-Financial Liabilities	-16.75	-25.49
	0.00 76.70	0.00 477.17
Cash Generated From Operations		3.18
Taxes	14.75
Net cash flow from](used in) operating activities (A)	61.95	473.99
Cash Flows From Investing Activities
(Purchase)/Sale of Tangible Assets (net)	"1.51	-40.07
(Purchase) / Sale Investments (Including in subsidiaries) Capital Gain on Investment	0.00	0.00
Interest received	0.00 0.00	0.00
Net cash flow from](used in) investing activities (B)	"1.51	0.00 40.07
Cash Flows From Financing Activities
Decrease in Bank Deposits	0.00
Increase in Share Capital	0.00	0.00 0.00
Increase in Share Premium (Net of share Issue Expenses) Borrowed/ Repayment of Borrowings (Net)	0.00	0.00
Interest Expenses	99.37 0.00	-294.29
Net cash flow from](used in) financing activities (C)	99.37	0.00 -294.29
Net increase](decrease) in Cash and Cash Equivalents (A+B+C)
Cash and Cash Equivalents at beginning of Year Cash and Cash Equivalents at end of Period	159.81 226.38	139.62 86.76

Particulars	As at September	As at
ASSETS	30, 2021	March 31, 2021
Financial Assets 1.
(a) Cash and cash equivalents	225.83	166.06
(b) Bank balance other than (a) above	163.05	62.76
(c) Receivables
Trade receivables (I) (II) Other receivables	55.93	97.37
(d) Loans	0.00	0.00
(e) Investments	1956.00 141.72	1844.14
(f) Other financial assets	171.32	141.72 175.07
Sub-total	2,713.86	2,487.13
Non-Financial Assets 2.
(a) Current tax assets (net)	0.00	0.00
(b) Deferred tax assets (net) (c) Property, Plant and Equipment	0.00	0.00
(d) Right of use assets	141.84	148.35
(e) Intangible assets under development	18.39	28.90
(f) Other intangible assets	0,00 0.00	0.00 0.00
(g) Other non-financial assets	9.88	11.27
(h) Inventories	1113.92	964.57
Sub-total	1284.03	1153.09
Total	3,997.89	3,640.22
LIABILITIES AND EQUITY
LIABILITIES
(1) Financial Liabilities
Payables (a) (1) Trade payables
Total outstanding dues of micro (i)	0.00
(ii) Total outstanding dues of creditors other	225.76	0.00 171.97
(IJ) Other payables
Total outstanding dues of micro (i)	0.00	0.00
(ii) Total outstanding dues of creditors other	87.98	116.66
(b) Borrowings (Other than debt securities)	1439.29	1239.09
(c) Other financial liabilities	40.40	57.48
Sub-total	1,793.44	1,585.19
(2) Non-Financial Liabilities
(a) Current tax liabilities (net)	0.00	0.00
(b) Deferred tax liabilities (net) (c) Provisions	1.20	1.20
(d) Other non-financial liabilities	38.14	18.89
Minority Interest	0.00	0.00
(e)	147.31	145.95

Sub total	186.65	166.05
(3) EQUITY
(a) Equity share capital	611.62	611.62
(b) Other equity	1,406.18	1,277.36
Sub total	2,017.80	1,888.98
Total	3,997.89	3,640.22

AJCON GLOBAL SERVICES LIMITED Consolidated Cash Flow Statement For the Half Year Ended		30th September 2021
		(Rs.in Lacs)
Particulars	For the half year ended 30/09/2021	For the year ended March 31, 2021
Cash Flows From Operating Activities
Net Profit/(Loss) before taxation, and extraordinary item Adjustments for:	148.09	156.78
Depreciation & Amortisation	18.53	39.85
Employee Stock Option Expenses	0.00	0.00
Provisions for Gratuity Provisions for Leave Encashment	0.00 0.00	0.00 0.00
Interest Expenses	0.00	0.00
Capital Gain on Investments Interest Income	0.00	0.00
Net Loss/(Gain) on Fair Value of Investments	0.00 0.00	0.00 0.00
Net Loss/(Gain) on sale of PPE & Intangible Assets	0.00	0.00
Operating Profit](Loss) Before Working Gapital Ghanges (Increase)/Decrease in Trade Receivables	166.63	196.63
(Increase)/Decrease in Other Receivables	41.44 0.00	105.91 0.00
(Increase)/Decrease in Loans	-111.86	543.53
(Increase)/Decrease in Other Financial Assets Increase/(Decrease) in Inventory	3.75 -149.35	40.55 -138.25
(Increase)/Decrease in Other Non-Financial Assets	1.39	2.64
Increase/(Decrease) in Provisions	19.25	3.83
Increase/(Decrease) in Trade Payable Increase/(Decrease) in Other Payable	53.80 -28.68	112.52 15.75
	-17.08	-31.10
(Increase)/Decrease in Other Financial Liabilities	0.00 -20.73	0.00 852.02
Increase/(Decrease) in Other Non-Financial Liabilities		3.88
Cash Generated From Operations Taxes	17.91	848.14
Net cash flow from](used in) operating activities (A)	-38.64
Cash Flows From Investing Activities
(Purchase)/Sale of Tangible Assets (net)	-1.51	-40.07
(Purchase) / Sale Investments (Including in subsidiaries)	0.00	0.00
Capital Gain on Investment Interest received	0.00 0.00	0.00 0.00
Net cash flow from](used in) investing activities (B)	-1.51	-40.07
Cash Flows From Financing Activities Decrease in Bank Deposits	0.00	0.00
Increase in Share Capital	0.00	0.00
Increase in Share Premium (Net of share Issue Expenses) Borrowed/ Repayment of Borrowings (Net)	0.00 200.21	0.00 -667.54

Consolidated Cash Flow Statement For the Half Year Ended 30th September 2021

Net cash flow from](used in) financing activities (C)
	200.21	-667.54
Net increase](decrease) in Cash and Cash Equivalents (A+B+C)	160.05	140.52
Cash and Cash Equivalents at beginning of Year	228.82	88.30
Cash and Cash Equivalents at end of Period	388.88	228.82

Notes:

• 1. The above Unaudited Financial Results of the Company for the Quarter and Half year Ended on September 30,2021 have been reviewed by the Audit Committee and approved by the Board of Directors in the Meeting held on November 11, 2021.The Statutory Auditors have conducted a "Limited Review" of these results in terms of Regulation 33 of the Securities Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015. 2. The consolidated results of the Company include limited reviewed results of the subsidiaries Ajcon Finance Ltd., Ajcon Comtrade Pvt. Ltd. and Kanchanmanik Securities Pvt. Ltd. 3. There is no reportable segment pursuant to IND AS ¹⁰⁸
• 1. Covid-19 outbreak was declared as a global pandemic by World Health Organization. The company being classified as an essential service has been in operation consistently with minimal staff. As of September 30, 2021, based on the facts and circumstances existing as of that date, the Company does not anticipate any material uncertainties which affects its liquidity position and also its ability to continue as a going concern.
• 1. The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
• 1. Figures pertaining to previous year/period have been re-grouped and re-arranged whereever necessary

For Ajcon Global Services Limited

Ankit Ashok Ajmera Date:11.11.2021 Executive Director & CFO Place: Mumbai DIN:00200434

Partners : CA Sohan Chaturvedi CA Noshir B Captain CA Rajiv.Chauhan CA Vimal Sethia CA Neha Gupta CA Devanand Chaturvedi F.C.A. CA Chaturvedi VN F.C.A.

F.C.A. « Chaturvedi Sohan & Co.

ACA Chartered Accountants

FRN - 118424W

Limited Review Report

Review report to M/s. Ajcon Global Services Ltd. 408, A-wing Express Zone, Near Patel's W.E. Highway,Goregaon East, Mumbai-400063

• 1. We have reviewed the accompanying statement of Standalone Unaudited Financial Result of M/s. Ajcon Global Services limited ("the Company") for the quarter ended September 30, 2021 and year to date from April 01, 2021 to September 30, 2021, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• This statement, which is the responsibility of the Company's Management and has been approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34,(Ind As 34) "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principle generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.
• 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standard ('Ind AS') specified under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principle generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Chaturvedi Sohan & Co.

Chartered Accountants

F.R.N. : 118424W

Noshir B. C

Partner Place: Mumbai Membership No: 09899 Date: November 11, 2021 UDIN : 21009884 DARA B? 35 ²²

Partners : CA Sohan Chaturvedi CA Chaturvedi VN CA Noshir B Captain CA Rajiv.Chauhan CA Vimal Sethia CA Neha Gupta CA Devanand Chaturvedi F.C.A. rca OX

4 Chaturvedi Sohan & Co.

ACA: Chartered Accountants

FRN - 118424W

Limited Review Report

Review report to M/s. Ajcon Global Services Ltd. 408, A-wing Express Zone, Near Patel's W.E. Highway,Goregaon East, Mumbai-400063

• We have reviewed the accompanying statement of Consolidated Unaudited Financial Result of M/s. Ajcon Global Services limited ("the Holding Company") and _ its subsidiaries (the Holding and its subsidiaries together referred to as "the Group") for the quarter ended 30" September, 2021 and year to date from April 01, 2021 to September 30, 2021 being submitted by the Holding Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• This statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34,(Ind As 34) "Interim Financial Reporting" prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principle generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.
• 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, This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• The Consolidated unaudited financial quarterly results of M/s. Ajcon Global Services Ltd and its Subsidiaries
• a) M/s. Ajcon Finance Ltd.,
• b) M/s. Ajcon Comtrade Pvt. Ltd.
• c) 'M/s. Kanchanmanik Securities Pvt. Ltd.
• Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

1. We did not review the interim financial information of Subsidiary Companies, included in the consolidated unaudited financial results, whose interim financial information reflected total Assets of Rs 2079.92 lacs as at September 30, 2021, total revenues of Rs. 17.51 Lacs and Rs.34.74 Lacs, total net profit after tax of Rs. 5.92 Lacs and Rs. 9.41 Lacs., for the quarter ended September 30, 2021 and the period ended on that date respectively, and net cash outflows of Rs. 2.69 Lacs for the period from April 01, 2021 to September 30, 2021, as considered in the statement which have been reviewed by their respective independent auditors.

This interim financial information have been reviewed by the other auditors whose reports have been furnished to us and 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 the report of other auditors and the procedures performed by us as stated in paragraph above.

1. Our conclusion on the statement in respect of matter stated in para 6 above is not modified with respect to our reliance on the work done and the reports of the other auditors and the financial results certified by the Management.

For Chaturvedi Sohan & Co. Chartered Accountants F.R.N. : 118424W

Uy, Noshir Captain

Partner Place: Mumbai Membership No: 09899 Date: November 11, 2021. UDIN : 210092 94AAAACA 8665