FGP Ltd — Interim / Quarterly Report 2022

Nov 12, 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

November 12, 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 November 12, 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 Friday, November 12, 2021, inter-alia, have:

• 1. Approved Unaudited Financial Results for the quarter and half year ended September 30, 2021 along with the Limited Review Report issued by the Statutory Auditors of the Company thereon. Copy of the said results alongwith Limited Review Reports thereon are attached as Annexure – A.
• 1. Approved appointment of Mr. Suman Kumar Mishra as Manager of the Company for a period of 3 (three) years with effect from November 16, 2021, based on the recommendation of the Nomination and Remuneration Committee and subject to approval of the members of the Company.
• 1. Approved appointment of Ms. Shweta Musale (DIN: 03280429) as an Additional (Independent) Director for a period of five years with effect from November 12, 2021, based on the recommendation of the Nomination and Remuneration Committee, subject to approval of the members of the Company.
• 1. Noted resignation of Ms. Dhanshree Gandhi, Independent Director (DIN: 08451503) of the Company, vide her letter dated November 12, 2021, from the position of Director of the Company with effect from November 15, 2021, due to pre-occupations. Ms. Gandhi in her aforesaid letter has mentioned that there is no other material reason for her resignation other than provided hereinabove. Copy of the resignation letter is attached as Annexure – B.
• 1. Approved the Notice of Postal Ballot for seeking shareholders' approval for appointment of Ms. Shweta Musale as an Independent Director and of Mr. Suman Kumar Mishra as Manager. The said notice alongwith explanatory statement(s) annexed thereto and other relevant details, shall be sent separately.

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

Brief Profile along with other additional details of Ms. Shweta Musale and Mr. Suman Kumar Mishra pursuant to SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 is enclosed herewith as Annexure - C.

We further wish to inform that in terms of Circular No. NSE/CML/2018/02 dated June 20, 2018 issued by National Stock Exchange of India Limited, and Circular No. LIST/COMP/14/2018- 19 dated June 20, 2018 issued by BSE Limited, Ms. Musale has confirmed that she has not been debarred from holding the office of a Director by virtue of any order by SEBI or any other authority.

The Board meeting commenced at 12.07 p.m. and concluded at 01.05 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
	Regd.Office: 9, Wallace Street, Fort, Mumbai-400 001.E-mail: investors@fpltd.in; fgpltd03@gmail.com ● Website: www.fgpltd.in ● Tel. No. (022) 22070273, 22015269
	Statement of Unaudited Financial Results for the Quarter and half year ended September 30, 2021
							₹ in Lakhs except Earning per share
Sr.No.	PARTICULARS	QUARTER ENDED		HALF YEAR ENDED		YEARENDED
		30-Sep-2021	30-Jun-2021	30-Sep-2020	30-Sep-2021	30-Sep-2020	31-Mar-2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Income from Operations:
	(a) Net Sales/Revenue from Operations	3.69	3.30	5.40	6.99	10.80	17.10
	(b) Other Income	8.05	0.08	0.13	8.13	0.43	4.94
	(c) Net gain on fair value changes	17.94	18.61	9.68	36.55	24.71	67.93
	Total Income	29.68	21.99	15.21	51.67	35.94	89.97
2	Expenses:
	(a) Employee benefits expenses	6.21	4.65	10.85	10.86	19.50	39.41
	(b) Depreciation & amortisation expenses	0.17	0.17	0.51	0.34	0.99	0.60
	(c) Other expenses	12.26	10.53	9.89	22.79	18.71	49.70
	Total expenses	18.64	15.35	21.25	33.99	39.20	89.71
3	Profit/(Loss) before tax (1-2)	11.04	6.64	(6.04)	17.68	(3.26)	0.26
4	Tax expenses
	Current Tax -Income	-	-	-	-	-	-
	Deferred Tax	-	-	-	-	-	-
5	Net Profit / (Loss) for the period (5-6)	11.04	6.64	(6.04)	17.68	(3.26)	0.26
6	Other comprehensive income (net of tax)
	(item that will not be reclassifiled to profit or loss)	-	-	-	-	-	(0.13)
7	Total comprehensive income for the period (7+8)	11.04	6.64	(6.04)	17.68	(3.26)	0.13
8	Paid up equity share capital (Face value of ₹ 10/- each)	1189.51	1189.51	1189.51	1189.51	1189.51	1189.51
9	Other Equity	-	-	-	-	-	(892.66)
10	Earning Per Share of ₹ 10/- each)
	Basic & Diluted ( in ₹) (not annualised)	0.09	0.06	(0.05)	0.15	(0.03)	0.00

FGP LIMITED
CIN-L26100MH1962PLC012406
	Regd.Office: 9, Wallace Street, Fort, Mumbai-400 001.
	E-mail: investors@fpltd.in; fgpltd03@gmail.com ● Website: www.fgpltd.in ● Tel. No. (022) 22070273, 22015269
	Statement of Assets & Liabilities
			₹ in Lakhs
Sr.No.	Particulers	As at30th September,2021	As at31st March, 2021
I	ASSETS
	Non -Current assets
	Property, plant and equipments	4.52	4.91
	Other non-current assets	3.48	3.48
	Total Non-Current Assets (A)	8.00	8.39
	Current AssetsInvestments	252.91	246.36
	Trade receivables	2.13	0.66
	Cash and cash equivalents	6.18	4.23
	Other Bank Balance	-	7.19
	Other current assets	15.61	13.75
	Current Tax Assets (Net)	44.02	43.78
	Total Current Assets (B)	320.85	315.97
	Total Assets (A+B)	328.85	324.36
II	EQUITY AND LIABILITIES
	EQUITY
	Equity Share Capital	1,189.51	1,189.51
	Other equity	(874.98)	(892.66)
	Total Equity (C)	314.53	296.85
	LIABILITIES
	Non Current Liabilities
	Other non current liabilities	1.18	0.87
	Deferred tax liabilities (net)	-	-
	Total non-current liabilities (D)	1.18	0.87
	Current Liabilities
	Payables
	Other Payables
	Total oustanding dues of micro enterprises and small enterprises	0.14	0.71
	Total oustanding dues of creditors other than micro
	enterprises and small enterprises	12.49	24.40
	Other current liablities	0.51	1.53
	Total current liabilities (E )	13.14	26.64
	Total Liabilities (F=D+E)	14.32	27.51
	Total Equity and Liabilities (C+F)	328.85	324.36

FGP LIMITED
CIN-L26100MH1962PLC012406
Regd.Office: 9, Wallace Street, Fort, Mumbai-400 001.
	E-mail: investors@fpltd.in; fgpltd03@gmail.com ● Website: www.fgpltd.in ● Tel. No. (022) 22070273, 22015269
	STATEMENT OF CASH FLOWS
				₹ in Lakhs
Sr.	Particulers	Half Year Ended
No.		30th September, 2021	30th September, 2020	31st March 2021
A	CASH FLOW FROM OPERATING ACTIVITIES
	Net Profit / (Loss) before Taxes and Exceptional Items	17.68	(3.26)	0.13
	Adjustments for:
	Depreciation	0.34	0.99	0.60
	Changes in Fair Value of Investments	(36.55)	(24.71)	(67.93)
	Dividend IncomeInterest Income	-(0.07)	(0.20)(0.23)	(3.98)(0.83)
	Profit on Sale of Assets	(0.19)		-
	Interest Expense	-	0.01	-
		(18.79)	(27.40)	(72.01)
	Operating Profit Before Working Capital Changes
	Adjustments for:
	(Increase) / Decrease in Trade Receivable	(1.47)	(1.62)	0.97
	(Increase) / Decrease in Other assets	(1.86)	(1.15)	(0.36)
	(Increase) / Decrease in Trade payable	(12.48)	1.09	11.16
	(Increase) / Decrease in other liabilities	(0.71)	(0.17)	(2.73)
		(16.52)	(1.85)	9.04
	Cash generated from operations	(35.31)	(29.25)	(62.97)
	Direct Taxes Paid net of refund received	(0.24)	(0.62)	1.87
	Net Cash from Operating Activities	(35.55)	(29.87)	(61.10)
B	CASH FLOW FROM INVESTING ACTIVITIES
	Purchase of property plant and equipment	-	(0.61)	(0.61)
	Proceeds from sale of plant and equipment	0.24	-	-
	Proceeds from sale of Investments	30.00	-	30.00
	Interest Received	0.07	0.23	0.83
	Dividend Received	-	0.20	3.98
	Net cash used in Investing Activities	30.31	(0.18)	34.20
C	CASH FLOW FROM FINANCING ACTIVITIES
	Interest Exp	-	(0.01)	-
	Net Cash from Financing Activities	-	(0.01)	-
	NET INCREASE IN CASH AND CASH EQUIVALENTS (A+B+C)	(5.24)	(30.06)	(26.90)
	CASH AND CASH EQUIVALENTS AS AT OPENING	11.42	38.32	38.32
	CASH AND CASH EQUIVALENTS AS AT CLOSING	6.18	8.26	11.42

NOTES:

• 1 The financial result of the Company have been prepared in accordance with Indian Accounting Standards('Ind AS') notified under Section 133 of the Companies Act, 2013 ('the Act') read with the Companies (Indian Accounting Standards) Rules, 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 above results have been reviewed by the Audit Committee and approved by the Board of Directors of FGP Limited ('the Company') at their respective meetings held on 12 November 2021. The statutory auditors of the Company have carried out a limited review of the above results.
• 4 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.
• 5 The figures for the current quarter ended 30 September, 2021 and quarter ended 30 September, 2020 are the balancing figure between the published year to date figures in respect of period ended 30 September, 2021 and 30 September, 2020, respcetively and published figure upto the quarter ended 30 June, 2021 and quarter ended 30 June, 2020, respectively which were subject to limited review.
• 6 The figures have been regrouped/ rearranged wherever considered necessary to confirm to current period's classification and grouping.

Date: November 12, 2021 Chairman Place: Mumbai

For FGP Limited H.N.Singh Rajpoot

On Behalf of the Board of Directors

x MVK ASSOCIATES CHARTERED ACCOUNTANTS

800, Sangita Ellipse, Sahakar Road, Vile Parle (East), Mumbai - 400 057 Tel.: 022-4048 2500 « Fax : 022-4048 2525 E-mail : admin@mvkassociates.com Website : www.mvkassociates.com

MVK/CERT/2021-22/FGP/041

Limited Review Report on the Unaudited Financial Results of FGP Limited for the quarter and half year ended September 30, 2021, Pursuant to the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015

To

The Board of Directors FGP LIMITED

We have reviewed the accompanying statement of Unaudited Financial Results of FGP LIMITED ("The company"), for the quarter and half year ended September 30, 2021, being submitted by the company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015(the "Statement"), This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review.

We conducted our review in accordance with Standard on Review Engagement (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 applicable accounting standards and other recognized accounting practices and policies laid down in the applicable Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder 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 Obligation & Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For MVK Associates Chartered Accountants FRN: 120222W

A, R.PJ

Partner Membership No. 048195 UDIN: 21048195AAAAID5480

Place: Mumbai Date : 12th November , 2021

Dhanshree Gandhi Room No. 10, A wing, Madhav Bhuvan, Dr. B.A. Road, Parel, Mumbai 400012

November 12, 2021

To The Board of Directors FGP Limited 9-Wallace Street, Fort Mumbai 400001

Re: Resignation as Director of the Company

Dear Sir/ Madam,

Due to other pre-occupations, I hereby tender my resignation as Director (Independent) of FGP Limited with effect from November 15, 2021. I confirm that there is no other material reason for my resignation other than as provided hereinabove.

I take this opportunity to thank all concerned for their support and co-operation.

Kindly accept my resignation.

Thanking you,

Dhanshree Gandhi DIN: 08451503

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

Information on change in Directors and Key Managerial Personnel (KMP)

Sr.	Particulars	Details
No		Ms. Shweta Musale	Mr. Suman Kumar
			Mishra
1.	Reasonforchange	Appointment as an Additional	Appointment as Manager
	viz.appointment,	(Independent) Director of the	of the Company.
	resignation, removal,	Company.
	death or otherwise
2.	Date of Appointment	November 12, 2021.	November 16, 2021.
	(subject to approval at
	membersofthe
	Company)
3.	Term of appointment	5 years.	3 years.
4.	Brief Profile	Ms. Musale is a Compliance	Mr. Mishra possesses 19
		Professional with 9+ years'	years of rich experience in
		experience across MNCs in	the field of Finance and
		RealEstate,Financeand	Accounting,handling
		Technology sectors. Having	customer operations and
		worked in both multinational	sales.
		environmentandpromoter
		groupofficesofIndian
		Conglomerates, she carries a
		rich experience in Corporate
		Governance,Regulatory
		complianceandCorporate
		Secretarial function.
		She is a double graduate from
		University of Mumbai in the
		fields of Commerce (B.Com)
		and Law (LL.B). Additionally,
		she is an Associate member of
		TheInstituteofCompany
		Secretaries of India
5.	Disclosureof	Noneof theDirectorsare	Not applicable.
	relationships between	related to any other Director or
	directors (in case of	Key Managerial Personnel of
	appointmentofa	the Company.
	director)