EASY FINCORP LIMITED — Earnings Release 2021

Jun 22, 2021

EASY FINCORP LIMITED

(Formerly WEIZMANN FINCORP LIMITED)

Regd. Off: clo: SAREGAMA INDIA LTD, 2nd Floor, Universal Insurance Building, P.M Road, Fort, Mumbai — 400 001

Tel: 022-61802400 Email: easyfincorpltd@gmail.com, website: www. easyfincorp.com CIN : L65920MH1984PLC118029

Ref: EFL/Results/ 2021-22/01 224 June, 2021

The General Manager, Department of Corporate Services, BSE Ltd., 4s Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400001

Dear Sir,

Scrip Code No - 511074 Company Code No - 1724

Sub: - Outcome of the Board Meeting held on 22°¢ June, 2021

Further to our letter dated 10" June, 2021, we write to inform you that pursuant to Regulations ³⁰and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ²⁰¹⁵ (referred to as the "SEBI Listing Regulations"), the Board of Directors of the Company, at its Meeting held today, i.e. 22°¢ June, 2021 has inter alia, considered and approved Audited Financial Results for the quarter and financial year ended 31* March, 2021.

^Acopy of the Audited Financial Results of the Company for the quarter and financial year ended 31s' March, 2021 along with the Statement of Assets and Liabilities, Auditors' Report and declaration on Audit Reports with unmodified opinion are enclosed herewith for your record.

The Meeting of Board of Directors commenced at 3:00 P.M. and Concluded at 4:00 P.M.

You are requested to take the above information on record.

Thanking you, Yours faithfully,

For EASY FINCORP LIMITED .

Akhilanand Joshi Director

Encl : As above

Easy Fincorp Limited

Tel: 022-61802400; Email: easylincorpitd@gmail.com; website: easylincorp.com

	Easy Fincorp Limited [FORMERLY WEIZMANN FINCORP LIMITED]
	CIN L65920MH1984PLC118029 Regd. Office : clo: SAREGAMA INDIA LTD, 2nd Floor, Universal Insurance Building, P.M Road, Fort, Mumbai ~ 400 001
	Tel: 022-61802400; Email: easyfincorpltd@gmail.com; website: easyfincorp.com Statement of Standalone / Genselidated Audited Fianncial Results for the Quarter & Year Ended 31.03.2021
						Figures in Rs.Lacs
	Particulars		Quarter ended 31.03.2021 31.12.2020 31.03.2020 31.03.2021			Year ended 31.03.2020
	_ Income from operations		Audited Unaudited	Audited	Audited	Audited
1	{a]_ Revenue from operation	-	-	-		2
[b]	Other income Total income	1.75 1.75	3.05 3.05	2.26 2.26	10.98 10.98	11.62 11.62
2 {a]	Expenses Cost of materials consumed	-	-	-	=	=
(b] {c]	Purchase of stock-in-trade Changes in inventories	= -	S -	-	is -	3 a
{d]	Employee benefits expense	1.52	1.67	1.48	6.15	6.00
{e] {f]	[Financial Costs Depreciation and amortisation expense	- -	- -	=	- =	cs a
[g] [h]	Listing Fees Other expense	0.75 1.32	0.75 0.73	0.75 2.63	3.00 4.06	3.00 4.93
3	Total expenses Profit/(loss) before exceptional items and tax (1-2)	3.59 (1.84)	3.15 (0.10)	4.86 (2.60)	13.21 (2.23)	13.93 (2.31)
4 5	Exceptional Items Profit / (Loss) before tax ( 3-4)	(1.84)	(0.10)	(2.60)	(2.23)	(2.31)
6	Tax Expense Current Tax	- -	- -	(0.08) (0.08)	- 3	= &
7	Deferred Tax Net Profit/(Loss) after tax from continuing operations (5-6)	- (1.84)	(0.10)	- (2.52)	- (2.23)	E. (2.31)
8 9	Profit / (Loss) from discontinuing operations Tax Expense from discontinued operations	-	-	-	-	-
10	Net Profit/(Loss) after tax from discontined opeations (8-9)	- -	- -	- -	- -	- -
11.	Other comprehensive income, net of tax Items that will be reclassified subsequently to profit or loss:	-	-	-	=	3
	Tax on above Items that will not be reclassified subsequently to profit or	=	2	5	=	>
	Net Gain / (Loss) on Fair Value through OCI - Equity 'ax on above	137.40 (30.58)	= Ee	(58.00) 12.91	137.40 (30.58)	(66.84) 14.88
12	Total other comprehensive income Total comprehensive income/(Loss) (7+10+11)	106.82 104.98	: (0.10)	(45.09) (47.61)	106.82 104.59	(51.96) (54.27)
13	Paid up Equity Share Capital (Face Value of Rs 10/- Per Share)	24.50	2450	24.50	24.50	24.50
	Other Equity (Excluding Revaluation Reserves) {Earning per Share (FV of Rs 10/- each)	o	a	e	246.65	142.07
14 15	Basic (in Rs.) {Diluted (in Rs.)	(0.75) (0.75)	(0.04) (0.04)	(1.029) (1.029)	(0.91) (0.91)	(0.94) (0.94)
(a)
(b) 1	The audit committee has revelwed these results and the Board of Directors has approved the above results at their meeting held on 22nd June 2021.
2 3	The Company has only one reportable segment, Hence, the disclosure as required under Ind AS 108 'Segment Reporting' is not given. The financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the
	Companies Act, 2013 read with the relevant rules of the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016.
4	The figures of the last quarter are the balancing figure between audited figures in respect of the full fiancial year and the published year todate figures upto the third quarter of the current financial year, which were subjected to Limited Review.
5	Figure for the previous year/periods have been regrouped/ reclassified wherever necessary. Place : Mumbal			For EasyFincorp Limited
Date:	22/06/2021				:
				Akhilanand (Director)	Joshi
				DIN 07041418

	Figures in Rs.Lacs
Particulars	As At March 31, 2021 Audited	As At March 31, 2020 Audited
ASSETS
Non-current assets
a Property , Plant & Equipment
b Capital Work in Progress
c Other Intangible Assets
d Investment in subsidiaries
e Financial Assets
Investments	727.85	590.45
f Deferred tax assets (net)
g Other non-current assets
Current assets
a Inventories
b Financial Assets
(i) Investments
(i) Trade Receivables
(ii) Cash and cash equivalents	172.38	6.06
(iii) Bank balances other than (ii) above
$(v)$ Loans		163.32
c Current Tax Assets (Net) d Other current assets
Total Assets	9.75 909.98	11.41 771.24
EQUITY AND LIABILITIES
Equity
a Equity Share capital	24,50	24.50
b Other Equity	246.65	142.07
Total Equity attributable to Equityholders of
the company	271.15	166.57
LIABILITIES
Non-current liabilites
a Financial Liabilities
(i) Other financial liabilities	475.00	475.00
b Deferred tax liabilites (Net)	158.43	127.85
Current liabilites
a Financial Liabilities
(i) Borrowings
(i) Trade payables	5.34	1.74
b Other current liabilities	0.06	0.08
c Provisions
d Current Tax Liabilities (Net)
Total Equity and Liabilities	909.98	771.24

EASY FINCORP LIMITED CIN L65920MH1984PLC118029 Cash Flow Statement as at 31st March 2021

EASY FINCORP LIMITED
CIN L65920MH1984PLC118029 Cash Flow Statement as at 31st March	2021
Particulars	31-03-2021 Amount	31-03-2020 Amount
Cash Flow From Operating Activities	(Rs. In Lacs)	(Rs. In Lacs)
Net Profit (Loss) before tax and Interest Other income Operating Profit before Working Capital Changes	(2.23) (10.98) (13.21)
Changes In working capital: Adjustments for (increase) / decrease in operating assets: Trade receivables
Other current assets Short-term loans and advances	- 0.03 163.32
Adjustments for increase / (decrease) in operating Mabilities: Trade payables Other current liabilities	3.60 (0.02)
Cash flow from extraordinary items Cash generated from operations
Net income tax (paid) / refunds Net cash flow from / (used in) operating activities (A)	153.72 1.62 155.34
Cash Flow From Investing Activitles Investments	=
Net cash flow from Investing activities (B) Cash Flow From Financing Activities	S
Interest income	10.98
Net Cash flow from Financing activities (C ) Net increase / (decrease) in Cash and Cash Equivalents (A+B+C)	10.98 166.32
	6.06 172.38
Cash and Cash Equivalent at the Beginning of the year Cash and Cash Equivalent at the End of the year
Cash and Cash Equivalents at the End of the Year	166.32
(a) Cash on Hand (b) Cheques, Drafts on Hand (c) Balances with Banks In Current Accounts	0.04 12.07

For Easy Fincorp Limited

Haren I. Parekh HAREN PAREKH & CO.

B.Com. F.C.A. _ Chartered Accountants

321/322, Reena Complex, R. N. Road, Vidyavihar (W), Mumbai-400 086, Phone: +9122-513 1381 « Fax: +9122-2512 610

INDEPENDENT AUDITORS REPORT ON QUATERLY AND ANNUAL STANDALONE FINANCIAL RESULTS OF EASY FINCROP LIMITED PURSUANT TO THE REGULATION 33 AND 52 OF SEBI (LISTING OBLGATION AND DISCLOSURE REQUIREMENTS) REGULATION 2015 AS AMENDED.

Report On the Audit of the Standalone Financial Results

To Board of Directors of EASY FINCORP LIMITED

Opinion

We have audited the accompanying statement of quarterly and year to date Standalone financial results of EASY FINCORP LIMITED [formerly Wezimann Fincorp Limited] ('the Company') ended March 31, 2021 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") 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:

• i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
• ii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net Loss and other comprehensive income and other financial information of the Company for the quarter ended March 31, 2021 and for the year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone 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 together with the ethical requirements that are relevant to our audit of the financial statements 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 Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the Standalone annual financial statement. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net loss and other

ne

comprehensive income of the Company and other financial information in accordance with the applicable accounting standards 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 of 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, 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 Company's financial reporting process. Auditor's Responsibilities for the Audit of the Standalone Financial Results Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 the Statement

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• ^eIdentify and assess the risks of material misstatement of the Statement, 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.
• ^eObtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our Opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• ^eEvaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

• ¢ 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 Company's ability 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 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.
• ^eEvaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

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.

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-todate figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations

FOR HAREN PAREKH & CO., CHARTERED ACCOUNTANTS FIRM REG. NO: 114075W

Pv pan te

HAREN I. PAREKH PROPRIETOR MEMBERSHIP NO: 30009 Mumbai: Dated: 22/06/2021 UDIN: 21030009AAAAFV8505

EASY FINCORP LIMITED

(Formerly WEIZMANN FINCORP LIMITED)

Regd. Off: clo: SAREGAMA INDIA LTD, 2nd Floor, Universal Insurance Building, P.M Road, Fort, Mumbai — 400 001

Tel: 022-61802400 Email: easyfincorpltd@gmail.com, website: www. easyfincorp.com CIN : L65920MH1984PLC118029

Ref: EFL/RESULTS/2021-22/02 224 June, 2021

The General Manager,

Department of Corporate Services, BSE Ltd., 1st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400001

Dear Sir,

Scrip Code No - 511074 Company Code No - 1724

Sub: - Declaration pursuant to 33(3) (d) of the SEBI Listing Requlations

Pursuant to Regulations 33(3) (d) of the SEBI Listing Regulations and vide SEBI circular No — CIR/CFD/CMD/56/2016 dated 27" May, 2016, we hereby declare that the Statutory Auditors of the Company, Ms Haren .|. Parekh, Chartered Accountants (Registration No - 114075W) have issued the Audit Report with unmodified opinion for the Audited Financial Results of the Company for the financial year ended 315' March, 2021.

We request you to take the above information on record and oblige.

Thanking you, Yours faithfully, For EASY FINCORP LIMITED

Akhilanand Joshi Director

Encl : As above