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EQUIPPP SOCIAL IMPACT TECHNOLOGIES LIMITED Annual Report 2022
60695_rns_2022-05-29_5dd8db01-f8b7-4d74-9e43-c1bdd8542086.pdf
Annual Report
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May 29, 2022
To, To, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block,
BSE Limited National Stock Exchange of India Limited Dalal Street Mumbai — 400001 Bandra—Kurla Complex Mumbai - 400051
BSE Scrip Code: 590057 NSE Symbol: EQUIPPP
Subject: Outcome of Board Meeting held today i.e., May 29, 2022.
Dear Sir/Madam,
This is to inform you that, the Board of Directors of the Company at their meeting held on Sunday, 29" May, 2022 has inter-alia considered and approved the following matters:
The Audited standalone Financial Results of the company for the quarter and the year ended 31* March, 2022 as required under Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
ii. The Statement of Standalone Assets and Liabilities for the year ended 31st March, 2022
ili. The Statement of Standalone Cash Flow Statement for the year ended 31st March, 2022
Pursuant to Regulation 33(3) (d) of the SEBI (Listing Obligations and Disclosure Requirements Regulation, 2015, we hereby declare that that M/s Navitha And Associates, chartered Accountants, (ICAD Firm Registration No. 0120268, Hyderabad, the Statutory Auditors of the Company have issued an Unmodified Audit Report on the Audited Financial Results of the Company for Financial Year ended 31st March, 2022.
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Mr. Sattanathapuram Krishnamurthy Venkataraman (DIN: 00545822) was appointed as an Additional Director of the Company on Independent basis.
-
Took note of Resignation of Mr. Venkatarao Suresh (DIN: 03423148), Independent Director of the Company.
4.Took note of Resignation of Ms. Kumkum Agrawal as the Company Secretary and Compliance Officer of the Company.
-
Reconstituted the Committees of the Board of Directors.
-
Policies as per the Companies Act 2013 and SEBI Regulations have been approved and adopted.
The Board meeting commenced at 07:00 P.M (IST) and Concluded at 08:30 P.M (IST).
This is for your information and records.
Thanking You,
For EQUIPPP SOCIAL IMPACT TECHNOLOGIES LIMITED (Formerly known as Proseed India Limited)
sey Kalman
Executive Director DIN: 09105972
Appointment of Mr. Sattanathapuram Krishnamurthy Venkataraman (DIN: 00545822) as an Additional Director of the Company on Independent Basis
| Disclosure pursuant to the provisions of the SEBI (Listing Obligations and Disclosure Requirements) | ||
|---|---|---|
| Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015. | ||
| Appointment of Mr. Sattanathapuram Krishnamurthy Venkataraman (DIN: 00545822) as an | ||
| Additional | Director of the Company on Independent Basis | |
| Sr. No. |
Details of events that need to be informed |
Information of such events |
| 1 | Reason for change viz. appointment, resignation, removal, death or otherwise |
Appointment |
| 2 | Date of Appointment | 29% May 2022 |
| 3 | Brief Profile(in case of appointment) | S V Krishnamurthy aka SVK ( born 21st December, Bachelor 1957) is a inl Commerce from Loyola College, Chennai (1975-1978). He is A Fellow Member of the Institute of Chartered Accountants of India - FCA and Fellow Member of the Institute of Company Secretaries of India] — FCS. Certified Independent Director by Indian Institute of Corporate Affairs. |
| SVK was appointed as one the Ist set of Providers Service Citibank's by credit Business operations card This in India. ) became known world 1999 later on ( wide by its popular jargon - BPO |
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| SVK's experience encompasses operations consumer gamut entire of the of retail banking. For the last 25 years, SVK has management, focused process on credit management consultancy, and audits consulting. Have also handled Forensic Accounting & Investigation with a partner in Singapore. |
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| SVk is presently a Senior Partner in G Natesan Chartered Accountants. & Co., GNC has been appointed as one of the |
| 21. | ||
|---|---|---|
| 4 | Disclosure of relationships between director(in case of appointment of a director) |
Not Applicable |
| 5 | Other Directorship and category | UPEKSHA SUSTAINABLE PRODUCTS PRIVATELIMITED)- Additional Director |
| MV ARTIFICIAL INTELLIGENCE SER VICESPRIVATE LIMITED- |
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| Director AACHARANA BUSINESS SERVICES PRIVATELIMITED- Director |
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| CRMORBIT (INDIA PRIVATE ) LIMITED- Director |
||
| FITKET INDIA PRIVATE LIMITED | ||
| Director SMART VENTURE CAPITAL |
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| ADVISORY ANDMANAGEMENT CONSULTANTS PRIVATE LIMITED- Director |
EQUIPPP SOCIAL IMPACT TECHNOLOGIES LIMITED (Formerty known as Proveed Inda Limited) COUN E7200 TG2002PL COTY Ath Floor, Western Pearl Building, Hitech City Road, Kondapur, Hyderabad: S000K 1, Telangana India STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED UE MARCH 2022
| EQUIPPP SOCIAL IMPACT TECHNOLOGIES LIMITED (Formerly known as Proseed Inda Limited) CIN: L72100TG2002PLC039113 |
8th Floor, Western Pearl Building, Hitech City Road, Kondapur, Hyderabad-500081, Telangana, India | |||||
|---|---|---|---|---|---|---|
| Three Months Ended | STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2022 | Rs.in Lacs YEAR ENDED |
||||
| PARTICULARS | 31 March 2022 Un audited |
31 December 2021 Un nudited |
31 March 2021 Un audited |
31 March 2022 Audited |
31 March 2021 Audited |
|
| SI. | $\sim$ | |||||
| No | Income from operations | 20.47 | $\sim$ | 20.94 20.94 |
||
| a) Income from operations b) Other income |
$\sim$ $\,$ |
$\sim$ $\sim$ |
||||
| $\mathbf{3}$ | 2 Total Income from operations Expenses |
$\lambda$ | 20.47 $\sim$ |
|||
| a) Purchase of stock-in-trade b) Changes in inventory of stock-in-trade |
4.00 | 1.29 | 3.48 | 21.34 | 7.03 | |
| d) Employee benefits expense d) Finance costs c) Depreciation and amortisation |
17.82 | 17.81 | 0.23 | 71.24 | 0.89 | |
| f) Other expenses Total expenses |
27.30 49.12 |
6.45 25.55 |
97.92 101.63 |
38.39 130.96 |
121.49 129.42 |
|
| $\sqrt{4}$ 5 5 |
Profit/ (Loss) before exceptional items and tax (2-3) Less: Exceptional items |
(49.12) 163.88 |
(25.55) | (81.16) (1,375.12) |
(130.96) 163.88 |
(108.48) (1,375,12) |
| 6 7 |
Profit/(Loss) before tax (4-5) Tax expense |
(213.00) | (25.55) | 1,293.96 | (294.84) | 1,266.64 |
| 8 9 |
Net Profit /(loss) for the period (6-7) Other Comprehensive Income (OCI) |
(213.00) | (25.55) | 1,293.96 | (294.84) | 1,266.64 |
| L a) Items that will not be reclassified to profit or loss: b) Income Tax relating to items that will not be reclassifie |
$\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ $\blacksquare$ |
$\omega$ | $\,$ | $\sim$ | |
| II. a) Items that will be reclassified to profit or loss: b) Income Tax relating to items that will be reclassified t |
$\overline{a}$ | $\blacksquare$ | $\tilde{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\sim$ | |
| 10 Total comprehensive income for the year $(9+10)$ 11 Paid - up equity share capital face value '.1/- each |
(213.00) 1,030.95 |
(25.55) 1,030.95 |
1,293.96 30.95 |
(294.84) 1,030.95 |
1,266.64 30.95 |
|
| Earnings per share for the period (in Rupees) per 1/- share - Basic - Diluted |
(0.21) (0.21) |
(0.02) (0.02) |
41.81 41.81 |
(0.29) (0.29) |
40.92 40.92 |
|
| 12 | Other equity | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ |
Notes:
1The standalone financial results have been approved at the meeting of the Board of Directors of the Company held on 29 May,2022. The figures for quarter ended 31st March, 2022 and 31st March. 2021 are balancing numbers between audited numbers of the full financial year and reviewed year-to-date numbers upto the third Quarter of the respective financial year. The statutory Auditor have issued an unmodified Opinion on the financial results for the year ended 31.03.2022 and the Qtr ended 31.03.2022
The above financial results have been prep in with the Ci (Indian recognised accounting practices and polices to the extend applicable. Rules, 2015 (Ind AS) prescribed under section [33 of the Compaics Act 2013 and other
3Previous penod 'year's figures have been regrouped/reclassified wherever necessary to correspond with the current period/year's classification/disclosure,
The aforesaid results have been filed with Stock Exchanges under Regulation 33 of SEBI (Listing Obligations and Disclosures Requirments) regulations, 2015 are also available on the Stock Exchanges websites (www nseindia.com and www.bseindia.com) and on the website of the Company-www.equippp.in . ~ a
for Impact auditors to get on-ground insights collected by field force partners to assess the impact created by social value projects: It curated field force partners. It has features to gather feedback and insights from beneficiaries of a particular pr w "EquiPPP Insights Exchange (IX), is an AVML-based digital platform, propelled by a framework of impact auditors, knowledge partners, academic institutions and through digital media. CAPI. CATI. CAWI. and social value partners across multiple geographical locations."
oe Place: Hyderabad Mahesh Ramachandran Managing Director Date : 2%h May 2022
EQUIPP SOCIAL IMPACT TECHNOLOGIES LIMITED ( Formerly known as Proseed India Limited ) Balance sheet as at 31 March 2022
| EQUIPP SOCIAL IMPACT TECHNOLOGIES LIMITED Balance sheet as at 31 March 2022 |
( Formerly known as Proseed India Limited ) | |
|---|---|---|
| (All amounts in Indian rupees, except share data and where otherwise stated) | ||
| Particulars | As at 31 March 2022 |
As at 31 March 2021 |
| ASSETS | ||
| Non-current Assets (a) Property, plant and equipment |
16,57,330 | 17,10,051 |
| (b) Intangible Assets | 7,49,44,032 | = |
| (c) Other Non-current Assets Total Non-current Assets |
- 7,66,01,362 |
O07 27243 1,24,37,294 |
| Current Assets | ||
| (a) Financial assets | 63,34,472 | |
| (i) Trade receivables (i) Cash and cash equivalents |
- 112:523 |
4,07,929 |
| (ii) Other financial assets | - | 10,20,295 |
| 1,12.523 | 77,62 ,696 | |
| Total Current Assets TOTAL ASSETS |
7,67,13.885 | 2,01,99,990 |
| EQUITY AND LIABILITIES | ||
| Shareholder's funds | ||
| (a) Equity Share capital | 10,30,95,225 | 30,95,225 |
| (3,55,39,506) 6,75,55,719 |
||
| (b) Other Equity TOTAL EQUITY LIABILITIES Non-current Liabilities (a) Financial Liabilities |
51,30,000 | (60,56,107) (29,60,882) 2,18.52,346 |
| Borrowings (b) Other non-current liabilities |
||
| Total Non-current Liabilities | §1,30,000 | 2,18,52,346 |
| Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Borrowings (ii) Trade payables |
- - |
|
| (b) Provisions | - | |
| (c) Other current liabilities | 40,28,166 | 13,08,526 |
| Total Current Liabilities TOTAL EQUITY AND LIABILITIES |
40,28,166 7,67.13,885 |
13,08,526 2,01,99,990 |
EQUIPP SOCIAL IMPACT TECHNOLOGIES LIMITED ( Formerly known as Proseed India Limited )
| Cash flow statement for the year ended 31 March 2021 | |||||
|---|---|---|---|---|---|
| EQUIPP SOCIAL IMPACT TECHNOLOGIES LIMITED | ( Formerly known as Proseed India Limited ) | |
|---|---|---|
| Cash flow statement for the year ended 31 March 2021 | (Amount in Rs') | |
| Particulars | For the year ended 31 March 2022 |
For the year ended 31 March 2021 |
| I. Cash flows from operating activities: | ||
| Net profit/(loss) before taxation: Adjustments for operating activities: |
(2,94,83,399) | 12,66.64.137 |
| Depreciation and amortisation Interest expense |
71.23,506 | 89,298 |
| Operating profit before working capital changes | (2,23,59,893) | 12,67,53,435 |
| Movement in working capital: Increase/(decrease) in trade receivables |
(63.34,472) | 46.78,128 |
| Increase/ (decrease) in trade payables | : | (64.69,461) |
| Increase/ (decrease) non curret assets Increase/ (decrease) in Financial current assets : |
(1,07,27,243) (10,20,295) |
5,267 39,08,247 |
| Increase/ (decrease) in non current liabilities and provisions | 40,28,166 13,08,526 |
(36.81,665) (15,08,32,965) |
| Increase/ (decrease) in current liabilities and provisions Cash generated from operations Income taxes paid/(received) |
(15,58.243) | (2,56,39,013) |
| Net cash flow from operating activities (A) | (15,58,243) | (2,56,39,013) |
| I1.Cash flows from investing activities | (8.20,14,831) | |
| (8,20,14,831) | ||
| Net cash flow used in investing activities (B) ILL.Cash flows from financing activities |
||
| Unsecured Loan received / (Repayment) Repayment / (Proceeds ) of short-term borrowings |
10,00,00,000 (1,67,22,334) |
2,18,52,346 |
| Finance costs | ||
| Net cash from financing activities (C) | 8,32,77,666 | 2,18,52,346 |
| Net increase/ (decrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the year |
(2,95,408) 4,07.930 |
(37,86,667) 41,94,597 |
Navitha And Associates CHARTERED ACCOUNTANTS, # 16-2-740/75, Plot No.84, V.K.Dhage Nagar, Dilsukh Nagar, Hyderabad — 500 060. T.S.
Cell: 09848338091 Email: [email protected]
INDEPENDENT AUDITOR'S REPORT ON AUDIT OF QUARTERLY AND ANNUAL STANDALONE FINANCIAL RESULTS
To THE BOARD OF DIRECTORS OF EQUIPPP SOCIAL IMPACT TECHNOLOGIES LIMITED (Formerly known as Proseed Inda Limited )
Opinion
We have (a) audited the accompanying Standalone quarterly and annual financials results of EQUIPPP SOCIAL IMPACT TECHNOLOGIES LIMITED ( Formerly Proseed India Limited) ("the company"), for the quarter ended 31st March, 2022 and year to date results from 1st April, 2021 to 31st March 2022, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial results:
- (i) is presented in accordance with the requirements of the Regulation 33 of the Listing Regulations
- (ii) gives a true and fair view in conformity with the recognition and measurement principals laid down in the applicable Indian accounting standards and other accounting principles generally accepted in India of the net loss, other comprehensive income and other financial information for the quarter ended 31st March, 2022 and the year to date results for the period from 1* April, 2021 to 31st March 2022.
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 ("the Act"). Our responsibilities under those Standards are further described in the "Auditors'
Responsibilities for the Audit of 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 Accountant of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Management's Responsibility for the Financial Results
The quarterly financial results as well as the year to date Standalone annual financial results have been prepared on the basis of interim financial statements. The Company's Board of Directors are responsible for the preparation and presentation of these financials results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information of the Company in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting prescribed under Section 133 of the Act read with relevant Rules issued there under and other accounting principles generally accepted in India and in compliance with Regulations 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 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 financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial results, the Board of Directors of the entities 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 Annual Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone financials 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 the standalone financials results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- e Identify and assess the risks of material misstatement of the standalone financials results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and to 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.
- * Obtain 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)@) 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.
- * Evaluate 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 appropriateness of this assumption. 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.
- ¢ Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
- e Obtain sufficient appropriate audit evidence regarding the Standalone Financial Results of the company to express an opinion on the Standalone 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.
Other Matters
The Standalone Financial Results include the results for the quarter ended 31st March 2022 is the balancing figures between audited figures in respect of the full financial year and published unaudited year to date figures up to the third quarter of the current financial year. Our opinion is not modified in respect of these other matters.
For Navitha And Associates Place: Hyderabad Chartered Accountants Date: 29% May 2022 ICAT Firm Regn. No.012026S
= / HYDERABAD \ fa '\ M.No.221085 | x "OY
CA.Navitha. K Proprietor M.No. 221085 UDIN: 22221085AJVKAR3814
DECLARATION
Pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, We do hereby declare and confirm that Auditors' Report on the Standalone Financial Results for the year ended March 31, 2022 are with "Unmodified Opinions"
Thanking You,
For EQUIPPP SOCIAL IMPACT TECHNOLOGIES LIMITED (Formerly known as Proseed India Limited)
~ eT
Sreenivasa Chafy Kalmanoor Executive Director DIN: 09105972