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Alankit Limited Interim / Quarterly Report 2021
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Interim / Quarterly Report
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15th September, 2020
To, The General Manager Department of Corporate Services Bombay Stock Exchange Limited P.J Towers, Dalal Street Mumbai – 400001 Phones: 022 - 2272 3121, 2037, 2041 Fax: 91-22-22721919 [email protected] Security Code No. : 531082 Security Code No. : ALANKIT
The National Stock Exchange of India Ltd. Exchange Plaza, 5th Floor, C-1, Block G, Bandra – Kurla Complex, Bandra (E), Mumbai – 400051 Phones: 022 - 2659 8237, 8238, 8347, 8348 Fax No: (022) 26598120 [email protected]
Dear Sir(s),
Sub: Financial Results for the quarter ended June 30, 2020 and Appointment of Chief Financial Officer
Dear Sir(s),
In continuation of our letter dated 09th September, 2020, and pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby enclose the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2020, duly reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company, at its meeting held today. We also enclose a copy of the Limited Review Report of the Auditors of the Company on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2020.
Further, the Board of Directors, as per the recommendation received by Nomination and Remuneration Committee and Audit Committee at their meeting held on 15th September, 2020, have appointed Mr. Gaurav Maheshwari, Chartered Accountant as Chief Financial Officer of the Company with effect from 15th September, 2020
The meeting of the Board of Directors commenced at 3:30 P.M. and concluded at 03:50 P.M.
We request you to take the above on record.
Yours Sincerely, For Alankit Limited
Arora
Khushboo Digitally signed by Khushboo Arora Date: 2020.09.15 15:56:10 +05'30'
Khushboo Arora Company Secretary and Compliance Officer
CI N l 74900DL1989PLC036860
Registered Office : 205-208, Ana rkali Complex, Jh;mdewt'llan Extension, New Delhi - 110055, India Corporate Office : Alan k1t I-louse. 4E/2. Jhandewalan Extension. New Delh, -110055, India Phonl! : +91-11-4254 1234 / 2354 1234 I Fax : +9 1-11-2355 2001 I Wt!bslte : www.alank1t .in I email : ,[email protected], [email protected]
3/7-8, Asaf Ali Road, 1st Floor, Flat No. 4, New Delhi - 110002. Phones: 23271407,23284825,23284826 Telefax : 23270362 E-mail : [email protected] [email protected]
Auditor's Review Report on Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI {Listing Obligations and Disclosure Requirements) Regulations, 2015
To The Board of Directors of Alankit Limited
B. K. SHROFF & CO.
Chartered Accountants
-
- We have reviewed the accompanying statement of unaudited standalone financial results of Alankit Limited for the period ended 30th June 2020 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 ('the Regulation').
-
- The preparation of the statement 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 principles generally accepted in India, is the responsibility of the Company's Management and has been approved by the Board of Directors of the company. 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.
-
- Emphasis of Matter -
We draw attention to Note 5 of the accompanying standalone financial results, which describes the management's evaluation of impact of uncertainties related to COVID-19 and its consequential effects on the operations of the Company. Our conclusion is not modified in respect of this matter.
- 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.
Place: New Delhi Date:15th September 2020 uD1N: Zoo 81?-fJAPrPtD FebSLf
For BK Shroff & Co Chartered Accountants Firm Registration No. 302166E
~ -< a PARTNER
Membership Number: 085128
Kolkata Address : 23-A, Netaji Subhash Road, Kolkata - 700001 □ Phones : 22300751, 22300752 □ Fax : 22300680
| ALAN KIT LIMITED | ||||
|---|---|---|---|---|
| Regd, Office: 205-208, Anarkali Comolex, Jhandewalan Extension, New Delhi-110055 | ||||
| STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2020 | ||||
| (~ In Lakhs exce1 t oer share datal | ||||
| Particulatrs | Ouarter ended | Year ended | ||
| 30.06.2020 | 31.03.2020 | 30.06.2019 | 31.03.2020 | |
| Unaudited | Audited | Unaudited | Audited | |
| Income | ||||
| Revenue from operations | 2,591.02 | 3,456.10 | 2,958.43 | 12,969.35 |
| Other Income [net) | 2.83 | 332.92 | 47.77 | 520.34 |
| Total Income (1+11) | 2,593.85 | 3,789.02 | 3,006.20 | 13,489.69 |
| Expenses | ||||
| Purchases of stock in trade | 32.04 | 65.90 | 339.68 | 979.12 |
| Changes in Inventories of stock in trade | (0.40) | 67.31 | (298.85) | 306.03 |
| Employee benefits expenses | 1,507.86 | 2,075.68 | 1,534.27 | 6437.58 |
| Finance Cost | 28.38 | 28.03 | 42.45 | 144.98 |
| Depreciation & Amortisation expense | 78.62 | 100.32 | 92.71 | 396.27 |
| Professional Charges | 105.55 | 277.26 | 348.82 | 1218.26 |
| Data Management & Digitization Charges | 256.41 | 213.12 | 108.32 | 571.73 |
| Other expenses | 216.05 | 306.16 | 400.30 | 1365.74 |
| Total Expenses | 2,224.51 | 3,133.78 | 2,567.70 | 11,419.71 |
| Profit before tax | 369.34 | 655.24 | 438.50 | 2,069.98 |
| Tax expenses: | ||||
| Current tax | 122.40 | 203.55 | 131.06 | 637.01 |
| Earlier Year Taxes | 14.76 | |||
| MAT credit receivable | ||||
| Deferred tax | (11.87) | 128.72 | 12.41 | 149.59 |
| Total Tax Expense | 110.53 | 332.27 | 143.47 | 801.36 |
| Net Profit for the period | 258.81 | 322.98 | 295.03 | 1,268.62 |
| Other Comprehensive Income/ (Losses) | ||||
| Items that will not be reclassified subsequently to the statement or profit and loss | ||||
| Remeasurement of defined employee benefit plans | 16.63 | 69.82 | 1.72 | 78.04 |
| Changes in foir values of investments in equities carried at fair value through OCI | ||||
| Income Tax on items that will not be rcclo1 ssificcl subsequently to the statement | (4.84) | (20.33) | (0.50) | (22.72) |
| Items that will be reclassified subsequently lo the statement of profit and loss | ||||
| Exchange differences in translating the financial statement of a foreign operation | ||||
| Income Tax on items that will be rcclassifietl subsequently to the statement of profit & Loss | ||||
| Total Other Comprehensive locome / (Losses) [net of tax) | 11.79 | 49.49 | 1.22 | 55.32 |
| Total Comprehensive Income for the Period | 270.60 | 372.47 | 296.25 | 1323.94 |
| Total Paid up share capital equity shares [Face value of Re. 1 each full paid) | 1429.58 | 1429.58 | 1429.58 | 1429.58 |
| Other Equity (Excluding Revaluation Reserves) | 7134.72 | |||
| Earning per equity share [face value Re.1/· each) | ||||
| Basic | 0.18 | 0.23 | 0.21 | 0.89 |
| Diluted | 0.18 | 0.23 | 0.21 | 0.89 |
1. The above standalone unaudited financial results of the company for the quarter ended June 30, 2020 have been reviewd by the audit committee and approved by the board at their respective meetings held on September 15, 2020.
2.The Statutory auditors of the company have carried out a limited review of the above results for the quarter ended June 30, 2020
3. The Financial Results of the Company have been prepared in accordence with the Indian Accounting Standards (IND AS) as prescnbed under section 133 of the Companies Act 2013
4. The company's business activities fall in the following Segment: Product and Service, therefore segment reporting as per Ind AS-108 is furnished
separately.
- The company's operations and financial results for the quarter ended June 30, 2020 have seen some partial impact by the ourbreak of COVID- 19 pandemic and the consequent lockdown announced by Government of India due to which the operations were disrupted for some time. We expect improvements with the gradually opening of economy. The Company has robust system in place and all its locations are well networked. After resumption of operations, the management has made detailed assessment of its liquidity position and has prepared future cash flow pro1ect1ons ano 1lso assessed the recoverab1hty of its assets and factored assumptions used in the annual impairment assessment of its cash generating units, using various internal and external information. The Company will continue to closely monitor any material changes arising of future economic conditions and impact on its business. The results for the quarter are, therefore, not comparable with those for the previous quarter.
6. Figures for the previous period have been regrouped/ rearanged wherever necessary to make them comparable with current figures.
Date : 15.09.2020 Place: New Delhi
| STANDALONE SEGMENT INFORMATION FOR THE QUARTER ENDED 30TH IUNE 2020 | fin Lakhs) | |||
|---|---|---|---|---|
| Particulars | Quarter ended30.06.2020 | Quarter ended31.03.2020 | Quarter ended30.06.2019 | Year ended31.03.2020 |
| Unaudited | Unaudited | Unaudited | Audited | |
| 1. Seement Revenue | ||||
| a. Segment A- E-Governance services | 2,577.84 | 3,622.83 | 2413.67 | 11,953.50 |
| b. Segment B-E-Governance Product sale | 16.01 | 166.20 | 592.53 | 1,536.20 |
| c. Unallocated | - | |||
| Total | 2,593.85 | 3,789.03 | 3,006.19 | 13,489.70 |
| Less: Inter Segment Revenue | ||||
| Net Sales/Income from Operations | 2,593.85 | 3,789.03 | 3,006.19 | 13,489.70 |
| 2. Segment Results [Profit/ loss before Tax and Interest from each Seementl | ||||
| a. Segment A- E-Governance services | 475.95 | 738.13 | 436.16 | 2,259.87 |
| b. Segment B-E-Governance Product sale | (27.99] | 17.43 | 95.05 | 206,38 |
| c. Unallocated | ||||
| Total | 447.97 | 755.56 | 531.21 | 2,466.25 |
| Less: i] Interest | ||||
| ii] Other Un-allocated Exoenditure net off | 78.62 | 100.32 | 92.71 | 396,27 |
| iii] Un-allocable Income | ||||
| Total Profit Before Tax | 369.35 | 655.24 | 438.50 | 2,069.98 |
| 3. Canital Emoloyed | ||||
| [Segment Assets-Segment Liabilities] | ||||
| a. Segment A- E-Governance services Assets | 15,610.37 | 16.50 | 12855.30 | 15,458.23 |
| a. Seement A- E-Governance services Liabilities | 7,411.29 | (529.96] | 6237.92 | 7,512.89 |
| Capital Employed -Segment A | 8,199.08 | 546.46 | 6,617.38 | 7,945.34 |
| b. Segment B- E-Governance Product sale Assets | 671.42 | [230,731 | 1265.16 | 652.17 |
| b. Segment B- E-Governance Product sale Liabilities | 35.60 | [56.72) | 345.91 | 33.21 |
| Capital Emoloved -Seement B | 635.82 | [174.01] | 919.25 | 618.96 |
| Total | 8,834.91 | 372.45 | 7,536.63 | .1),564.30 |
Date: 15.09.2020
","·~ I<I'~ A Place: New Delhi A GIGD<
3/7-8, Asaf Ali Road, 1st Floor, Flat No. 4, New Delhi - 110002. Phones: 23271407,23284825,23284826 Telefax : 23270362 E-mail : [email protected] [email protected]
Independent Auditor's Review Report on Consolidated Unaudited Quarterly and Vear to Date Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To The Board of Directors of Alankit Limited
~B. K. SHROFF & CO.
Chartered Accountants
-
- We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Alankit Limited ("the Parent") and its subsidiaries {the Parent and its subsidiaries together referred to as "the Group"), for the quarter ended 30th June 2020 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 ('the Regulation').
-
- 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 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement 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. 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 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.
-
- The Statement includes the results of the following entities:
- i. Alankit Limited {Holding company)
- ii. Alankit Forex India Limited {Subsidiary)
- iii. Alan kit Technologies Limited {Subsidiary)
- iv. Verasys Technologies Private Limited (Subsidiary)
- v. Alankit Imaginations Limited {Subsidiary)
- vi. Alankit Insurance Brokers Limited (Subsidiary)
., B. K. SHROFF & CO. Chartered Accountants
3/7-8, Asaf Ali Road, 1st Floor, Flat No. 4, New Delhi - 110002. Phones: 23271407,23284825,23284826 Telefax : 23270362 E-mail : [email protected] [email protected]
-
- Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration 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 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
-
- Emphasis of Matter-
We draw attention to Note 5 to the consolidated financial results, which describes the uncertainties and the impact of Covid-19 pandemic on the Group's operations and results as assessed by the management. Our opinion is not modified in respect of this matter.
For B K Shroff & Co Chartered Accountants
Membership Number: 085128
Place: New Delhi Date: 15th September 2020 UDIN: 2006512-SAA-(.}~ Din Z-!:/l:D
| ALANKIT LIMITEDRe2d. Office: 205-208, Ana, kali Complex, Jhandewalan Extension, New Delhi-110055 | ||||
|---|---|---|---|---|
| STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2020 | ||||
| (~ In Lakhs except per share data) | ||||
| Quarter ended | Year ended | |||
| Particulatrs | 30.06.2020 | 31.03.2020 | 30.06.2019 | 31.03.2020 |
| Unaudited | Audited | Unaudited | Audited | |
| Income | ||||
| Revenue from operations | 2,769.02 | 4,086.97 | 3,312.53 | 15,612.24 |
| Other Income (net) | 55.91 | 433.99 | 80.78 | 739.27 |
| Total Income (1+11) | 2,824.93 | 4,520.96 | 3,393.31 | 16,351.51 |
| Expenses | ||||
| Purchases of stock 111 trade | 54.98 | 279.09 | 587.97 | 2,597.12 |
| Changes in Inventories of stock in trade | 18.00 | 97.38 | (312.53) | 432.27 |
| Employee benefits expenses | 1,583.19 | 2,222.88 | 1,592.23 | 6,782.05 |
| Finance Cost | 28.43 | 31.04 | 42.51 | 148.30 |
| Depreciation & Amortisation expense | 100.36 | 134.60 | 122.83 | 525.12 |
| Professional Charges | 126.16 | 312.78 | 358.70 | 1,273.63 |
| Data Management & D1g1t1zat1on Charges | 256.41 | 306.30 | 109.36 | 687.62 |
| Other expenses | 244.92 | 496.34 | 419.56 | 1,654.08 |
| Total Expenses | 2,412.45 | 3,880.41 | 2,920.63 | 14,100.19 |
| Profit before tax | 412.48 | 640.55 | 472.68 | 2,251.32 |
| Tax expenses: | ||||
| Current tax | 133.94 | 200.62 | 139.94 | 689.41 |
| Earlier year taxes | 0.44 | 15.19 | ||
| MAT credit receivable | - | (1.04) | (0.01) | (1.04) |
| Deferred tax | 2.22 | 133.09 | 12.41 | 151.96 |
| Total Tax Expense | 136.16 | 333.11 | 152.34 | 855.52 |
| Net Profit for the period | 276.32 | 307.44 | 320.34 | 1,395.80 |
| Other Comprehensive Income/ (Losses) | ||||
| llems lhat will not be reclassified subsequently lo the statement of profit and loss | ||||
| Remeasurement of defined cmployt.c benefit plan s | 17.27 | 70.66 | 1.72 | 78.88 |
| Changes in fair v.1lucs of investments in equities carried at fa ir value through OCI | - | - | ||
| lnconH? Tax on items that will not be reclassified subsequen tly to the statement | (5.00) | (20.48) | (0.50) | (22.87) |
| Items thilt will be reclassified subsequently to the statement of profit and loss | ||||
| E: <clrnngc a="" cial="" differences="" ent="" finan="" foreign="" in="" of="" operation<="" statem="" td="" the="" trjnsljting="">- | - | |||
| lncomc Tax on items that will be reclassified subsequently to the statement of profit & Loss | - | |||
| Total Other Comprehensive Income/ (Losses) (net of tax) | 12.27 | 50.18 | 1.22 | 56.01 |
| Total Comprehensive Income for the Period | 288.59 | 357.62 | 321.56 | 1451.81 |
| Total Paid up share capital equity shares (Face value of Re. 1 each full paid)Other Equity (Excluding Revaluation Reserves)Earning per equity share (face value Re.1/- each) | 1429.58 | 1429.58 | 1429.58 | 1429.587334.25 |
| Basic | 0.19 | 0.22 | 0.22 | 0.98 |
| Diluted | 0.19 | 0.22 | 0.22 | 0.98 |
1. The above consolidated unaudited financial results of the company for the quarter ended June 30, 2020 have been reviewd by the audit
committee and approved by the board at their respective meetings held on September 15, 2020.
2.The Statutory auditors of the company have carried out a limited review of the above results for the quarter ended June 30, 2020
3. The consolidated Financial Results of the Company have been prepared in accordence with the Indian Accounting Standards (IND AS) as prescribed under section 133 of the Companies Act 2013
4. The company's business activities fall in the following Segment: Product and Service, therefore segment reporting as per Ind AS-108 is furnished separately.
5. The company's operations and financial results for the quarter ended June 30, 2020 have seen some partial impact by the ourbreak of COVID-19 pandemic and the consequent lockdown announced by Government of India due to which the operations were disrupted for some time. We expect improvements with the gradually opening of economy. The Company has robust system in place and all its locations are well networked. After resumption of operations, the management has made detailed assessment of its liquidity position and has prepared future cash flow projections and also assessed the recoverability of its assets and factored assumptions used in the annual impa1rment assessment of its cash generating units, using various internal and external information. The Company will continue to closely mo111tor any matenal changes arising of future economic conditions and impact on its business. The results for the quarter are, therefore, not comparable with those for the previous quarter.
- Figures for the previous penod have been regrouped/ rearanged wherever necessary to make them comparable with current figures.
Date : 15.09.2020 Place: New Delhi
| CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER ENDED 30TH IUNE, 2020 | ('I' in Lakhsl | |||
|---|---|---|---|---|
| Quarter ended | Quarter ended | Quarter ended | Year ended | |
| Particulars | 30.06.2020 | 31.03.2020 | 30.06.2019 | 31.03.2020 |
| Unaudited | Audited | Unaudited | Audited | |
| 1. Segment Revenue | ||||
| a. Segment A- E-Governance services | 2,649.24 | 2,603.27 | 2.447.81 | 12,141.20 |
| b. Segment 8-E-Governance Product sale | 175.69 | 2,138.05 | 945.50 | 4,430.67 |
| c. Unallocated | - | |||
| Total | 2,824.93 | 4,741.32 | 3,393.31 | 16,571.87 |
| Less: Inter Seement Revenue | ||||
| Net Sales/Income from Operations | 2,824.93 | 4,741.32 | 3,393.31 | 16,571.87 |
| 2. Segment Results (Profit/ loss before Tax and Interest from each Segment] | ||||
| a. Seement A- E-Governance services | 512.36 | 695.91 | 436.49 | 2,284.46 |
| b. Seement 8-E-Governance Product sale | 0.47 | 91.23 | 159.01 | 503.95 |
| c. Unallocated | ||||
| Total | 512.83 | 787.14 | 595.50 | 2,788.41 |
| Less: il Interest | ||||
| ii) Other Un-allocated Expenditure net off | 100.36 | 134.60 | 122.83 | 525.12 |
| iii) Un-allocable Income | ||||
| Total Profit Before Tax | 412.47 | 652.54 | 472.67 | 2,263.29 |
| 3. Capital Employed | ||||
| (Segment Assets-Segment Liabilities) | ||||
| a. Seement A- E-Governance services Assets | 15,672.07 | (3,857.56) | 12505.66 | 13,535.62 |
| a. Segment A- E-Governance services Liabilities | 7,517.56 | (415.17] | 6548.66 | 7,714.96 |
| Capital Emoloved -Seement A | 8,154.51 | [3,442.391 | 5,957.00 | 5,820.66 |
| b. Seement 8- E-Governance Product sale Assets | 1,561.61 | 1,716.99 | 2384.71 | 3,625.30 |
| b. Seement 8- E-Governance Product sale Liabilities | 378.42 | 253.63 | 678.24 | 682.13 |
| Capital Employed -Segment B | 1,183.19 | 1,463.36 | 1,706.47 | 2,943.17 |
| Total | 9,337.70 | [1,979.031 | 7,663.47 | 8,763.83 |
\ rAL KFf°L M TED Date: 15.09.2020 A AL Place: New Delhi MA A NI, CTOR - -