FGP Ltd — Annual Report 2021

May 24, 2021

FGP LIMITED

CIN: L26100MH1962PLC012406

Registered Office - Commercial Union House, 9- Wallace Street, Fort, Mumbai - 400 001 Tel : 2207 0273/ 2201 5269; Email : investors@fgpltd.in; Website : www.fgpltd.in

May 24, 2021

BSE Limited Corporate Service Department, 1 st Floor, P.J. Towers, Dalal Street, Mumbai – 400001

Security Code: 500142

Sub: Outcome of Board Meeting held on May 24, 2021

Dear Sir,

Pursuant to the provisions of Regulation 30 (read with Part A of Schedule III) and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at its meeting held today, i.e. on Monday, May 24, 2021, inter-alia, considered and approved the following:

• 1. Audited Financial Results of the company, for the quarter and year ended March 31, 2021. Copy of the same is enclosed along with the reports of the Auditors thereon and a declaration duly signed by the Chief Financial Officer stating that the said report are with unmodified opinion.
• 1. Audited Financial Statements of the company for the year ended March 31, 2021.

The Board meeting commenced at 4.25 p.m. and concluded at 5.40 p.m.

We request you to kindly take the above on record.

Thanking you

Yours faithfully For FGP Limited

Manish Tiwary Company Secretary Encl as above

FGP LIMITED
CIN-L26100MH1962PLC012406
Registered Office: 9, Wallace Street, Fort, Mumbai-400001E-mail: investors@fpltd.in; fgpltd03@gmail.com ● Website: www.fgpltd.in ● Tel. No. (022) 22070273, 22015269
Statement of Audited Financial Results for the quarter and year ended March 31, 2021
(₹ in Lakhs except EPS)
Sr.No.	Particulars	Quarter Ended			Year Ended
		31.03.2021	31.12.2020	31.03.2020	31.03.2021	31.03.2020
		Audited		Audited
		(Refer No 7)	Unaudited	(Refer No 7)	Audited	Audited
1	Income:
	(a) Net Sales/Income from Operations	3.15	3.15	5.40	17.10	26.10
	(b) Other Income	4.18	0.33	7.22	4.94	9.12
	(c) Net Profit on fair value changes	6.37	36.84	-	67.93	-
	Total Income	13.70	40.32	12.62	89.97	35.22
2	Expenses:
	(a) Employee benefit expenses	11.71	8.20	7.40	39.41	28.07
	(b) Depreciation & amortisation expenses	(0.92)	0.53	0.48	0.60	1.92
	(c) Legal and Professional expenses	8.24	4.76	7.41	22.08	35.07
	(d) Other expenses	6.26	11.73	6.27	27.62	31.31
	(e) Net loss on fair value changes	-	-	66.34	-	63.10
	Total expenses	25.29	25.22	87.90	89.71	159.47
3	Profit/(Loss) from operations before
	exceptional items (1-2)	(11.59)	15.10	(75.28)	0.26	(124.25)
4	Exceptional items	-	-	-	-	-
5	Profit/(Loss) from ordinary activities after
	finance costs and exceptional items (3-4)	(11.59)	15.10	(75.28)	0.26	(124.25)
6	Tax expenses
	Current Tax	-	-	-	-	-
	Deferred Tax	-	-	-	-	-
7	Net Profit / (Loss) for the period (5-6)	(11.59)	15.10	(75.28)	0.26	(124.25)
8	Other comprehensive income/ (Loss) (net of tax)
	(item that will not be reclassified to profit or loss)	(0.13)	-	-	(0.13)	-
9	Total comprehensive income for the period (7+8)	(11.72)	15.10	(75.28)	0.13	(124.25)
10	Paid up equity share capital (Face value of ₹ 10/- each)	1,189.51	1,189.51	1,189.51	1,189.51	1,189.51
11	Other Equity (excluding revaluation reserves)	-	-	-	(892.66)	(892.79)
12	Earning Per Share of ₹ 10/- each
	Basic & Diluted (in ₹) (not annualised)	(0.10)	0.13	(0.63)	0.00	(1.04)

FGP LIMITED
	Audited statement of assets and liabilities as at 31st March, 2021
			₹ in lakhs
Sr.No.	Particulars	As at	As at
		31st March, 2021	31st March, 2020
I	ASSETS
	Non -Current assets
	Property, plant and equipments	4.91	4.90
	Other non-Current assets	3.48	3.48
	Total	8.39	8.38
	Current Assets
	(i) Investments	246.36	208.42
	(ii) Trade receivables	0.66	1.63
	(iii) Cash and cash equivalents	4.23	10.11
	(iv) Bank Balance other than (iii) above	7.19	28.21
	(v) Other Current assets(vi) Current Tax Assets (Net)	13.7543.78	13.3945.66
	Total	315.97	307.41
	Total Assets	324.36	315.80
II	EQUITY AND LIABILITIES
	EQUITY
	Equity Share Capital	1,189.51	1,189.51
	Other equity	(892.66)	(892.79)
	Total	296.85	296.72
	LIABILITIES
	Non Current Liabilities
	Other non Current liabilities	0.87	4.69
	Deferred tax liabilities (net)	-	-
	Total	0.87	4.69
	Current Liabilities
	Payables
	Other Payables
	Total oustanding dues of micro enterprises and small
	enterprises	0.71	0.54
	Total oustanding dues of creditors other than micro
	enterprises and small enterprises	24.40	13.41
	Other Current liablities	1.53	0.44
	Total	26.64	14.39
	Total Equity and Liabilities	324.36	315.80

FGP LIMITED
AUDITED CASH FLOW FOR THE YEAR ENDED 31ST MARCH 2021₹ in lakhs
Sr.	Particulars	For year ended	For year ended
No.		31st March, 2021	31st March, 2020
A	CASH FLOW FROM OPERATING ACTIVITIES
	Net Profit / (Loss) before Taxes and Exceptional Items	0.13	(124.25)
	Adjustments for:
	Depreciation	0.61	1.92
	Changes in Fair Value of Investments	(66.79)	63.10
	Profit on Sale of Investment	(1.15)	-
	Dividend Income	(3.98)	(5.29)
	Interest Income	(0.83)	(3.32)
	Profit on Sale of Plant & Equipments	-	(0.36)
		(72.01)	(68.20)
	Operating Profit Before Working Capital Changes
	Adjustments for:
	(Increase) / Decrease in Trade Receivable	0.97	(1.63)
	(Increase) / Decrease in Other Current assets	(0.37)	0.46
	(Increase) / Decrease in Trade payable	11.16	1.76
	(Increase) / Decrease in Other Liabilities	(2.73)	(1.40)
		9.03	(0.81)
	Cash generated from operations	(62.98)	(69.01)
	Income Taxes Paid (net of refund)	1.88	(0.95)
	Net Cash from Operating Activities	(61.10)	(69.96)
B	CASH FLOW FROM INVESTING ACTIVITIES
	Purchase of property plant and equipment	(0.61)	-
	Proceeds from sale of plant and equipment	-	0.36
	Proceeds from sale of InvestmentsInterest Received	30.000.83	-3.32
	Dividend Received	3.98	5.29
	Net cash used in Investing Activities	34.20	8.97
C	CASH FLOW FROM FINANCING ACTIVITIES
	Net Cash from Financing Activities	-	-
	NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C)	(26.90)	(60.99)
	CASH AND CASH EQUIVALENTS AS AT BEGINNING OF THE YEAR	38.32	99.31
	CASH AND CASH EQUIVALENTS AS AT END OF THE YEAR	11.42	38.32

This is the Cash flow statement referred to in or report of even date.

NOTES:

• 1 The above audited financial results of the Company have been prepared in accordance with Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rule, 2015, as amended by the Companies (Indian Accounting Standards Amendment) Rules, 2016, and as per Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
• 2 The Company is engaged primarily in the business of Business Centre Activities and as such no separate information is required to be published in terms of Ind AS 108-Operating segment.
• 3 The figures have been regrouped/ rearranged wherever considered necessary to confirm to current period's classification and grouping.
• 4 The above results were reviewed by the Audit Committee and thereafter approved by the Board of Directors at its meeting held on 24th May, 2021.
• 5 The Statutory Auditors have audited the financial statements for the year ended 31st March 2021 and have issue an unqualified opinion thereon.
• 6 The Company has evaluated the possible effect that may result from COVID-19 pandemic in the preparation of these financial results and there is no such impact on the Company.
• 7 The figures for the quarter ended 31st March, 2021 and 31st March, 2020 are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of third quarter which was subjected to Limited Review.

Place: Mumbai Date: May 24, 2021

MVK ASSOGIATES 809, SangtaEtipse, Sahakar Rood ssa Vile Pare (East), Mimbal - 400 057 CHARTERED ACCOUNTANTS "Tel 022-4048 2500 » Fax : 022-4048 2525 E-mall: admin@mvkassociates.com Website : www mvkassoci

Independent Auditor's Report on Quarterly and Year to Date Audited FGP LIMITED Pursuant to the Regulation 33 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015, (as amended)

To, The Board of Directors of FGP Limited

Report on the audit of the Financial Results

Opinion

es

We have audite ng Statement of quarterly andl year to date Financial Results of FGP LIMITED ('the Company") for the quarter and year ended March 41, 2021 ("the Statement"), 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 (the "Listing Regulations") the accompar Branch Office : 310/312, Pride Purple Square, Kalewadi Phata, Wakad, Pune -411 067 = Tel: 020-6791 6565

In our opinion and to the best of our information and adeording to the explanations given to us, the statement:

i. is presented in accordance with 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 profit, other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2021

Basis for Opinion

We conducted ou audit in a ordance with the Standards on Auditing (SAs) specified under secti those Standards are further described in the "Auditor's Responsibilities for the Audit of the 143(10) of the Companies Act, 2013, as amended (the "Act"), Our responsibilities under Financial Results with the Code of Ethics issued by the Institute of Chartered Accountants of India together with section of our report. We are independent of the Company in accordance 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 we have obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibility for the Financial Results

The statement has been prepared on the basis of the annual financial statements. The Board of Directors of the Company are responsible for the preparation of statement that gives a true and of the information in accordance with the accounting standards specified under section 133 of the Act, fair v et loss and other comprehensive income of the Company and other financial read with the 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 provision 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 judgements and estimates that are reasonable and prudent; and the design, implementation and maintenance 'of adequate internal financial controls, that were operating ting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from effectively for ensuring the accuracy and completeness of the acco material misstatement, whether due to fraud or error.

In preparing the statements, Board of Directors is responsible for assessing the Company's ability to continue asa going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless 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 is also responsible for overseeing the Company's financial reporting process,

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reason: le assurance about whether the Statéments 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 ce with SAs will always detect a material guarantee that an audit conducted in accordar misstatement when it exists. Misstatements can arise from fraud or error and are cons material if, individually or lered nthe aggregate, they could reasonably be expected to influence the economic deci ions of users taken on the basis of the Statement,

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

• * Ident 'and assess the risks of material misstatement of the standalone financial statements, 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.
• +Obiain an understanding of intemal control relevant to the audit order to design audit stances. Under section 143(3)(i) of the Act we are also responsible for expressing our opinion on whether the company has adequate procediures that are appropriate in the circ intemal financial controls with reference to financial statement in place and the operating effectivenes s of such controls,
• * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management
• * Conclude on the appropriateness of management's use' of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists

nts or conditions that may cast significant doubt on the Compa s ability to related te concern. If we conclude that a material uncer inty exists, we are continue required to. draw a tention in our auditor's report to the related disclosures in the standalone financial statements 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 nue as a going concern

ion, structure' and con the standalone financial Evaluate the overall present statements, including the disclosures, and whether the financial statements represent 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 ignificant deficiencies in intemal 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 Matter

The statement includes the results for the quarter ended March 31, 2021 being the balancing re between the audited figures in respect of full financial year ended March 31, 2021 and the published unaudited year-to-date 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 Cha Fim Registration no. 120222W MVK Associates tered Accountants

| CAL RP

Partner Membership No, : 048195 UDIN : 21048195 A AADY4843,

Place : Mumbai Date

FGP LIMITED

CIN: L26100MH1962PLC012406

Registered Office - Commercial Union House, 9- Wallace Street, Fort, Mumbai - 400 001 Tel : 2207 0273/ 2201 5269; Email : investors@fgpltd.in; Website : www.fgpltd.in

May 24, 2021

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001

Security Code: 500142

Sub: Declaration pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir,

Pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby declare that, M/s. MVK Associates, Chartered Accountants (Firm Registration Number: 120222W), Statutory Auditors of the Company, have issued an Audit Report with unmodified opinion on the Annual Audited Financial Results of the Company for the year ended March 31, 2021.

Kindly take the same on record and acknowledge the receipt.

Thanking you

Yours faithfully For FGP Limited

Rekha Dhanani Chief Financial Officer