GANGES SECURITIES LIMITED CIN —L74120UP2015PLC069869

REGD. OFFICE - P.O. HARGAON, DIST SITAPUR (U.P.), PIN — 261 121 Phone No. (05862) 256220-221; Fax No.: (05862) 256 225 E-mail — [email protected]; Website-www.birla-sugar.com

November 12, 2021

The Secretary The Dy. General Manager National Stock Exchange of India Ltd. Corporate Relationship Department Exchange Plaza, 5th Floor BSE Ltd. Plot No. C/1, G Block Ist Floor, New Trading Ring, Bandra- Kurla Complex, Rotunda Building Bandra (EF) P.J. Towers, Dalal Street, Fort, Mumbai 400 051 Mumbai-400 001

Symbol : GANGESSECU Stock Code : 540647

Dear Sir,

Sub: Outcome of Board Meeting held on November 12, 2021

Ref: Regulation 30, 33(3) of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015

This is to inform you that, the Board of Directors at their meeting held today have inter alia approved the Statement of Unaudited Financial Results (Standalone and Consolidated) for the second quarter and half year ended September 30, 2021.

A copy of the Statement of Unaudited Financial Results (Standalone and Consolidated) along with Auditors' Limited Review Report thereon is enclosed herewith for your records in pursuance of the above mentioned Regulation.

We are also arranging to upload the financial results on the Company's website www.birlasugar.com and publish the same in the format prescribed under Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.

The meeting commenced at 05:30 p.m. and concluded at 06:00 p.m.

The above is for your information and dissemination to all concerned.

Thanking you,

Yours faithfully, For Ganges Securities Limited

\ a haa Agarwala

Company Secretary ACS-38658

Encl.: as above

Agrawal Subodh & Co. Chartered Accountants

301, Victory House, 3rd Floor 1, Ganesh Chandra Avenue, Kolkata - 700 013 Phone : 2225-9430/31/32 E-mail : [email protected] Website : www.asnco.in

INDEPENDENT AUDITOR 'S LIMITED REVIEW REPORT ON THE STANDALONE UNAUDITED FINANCIAL RESULTS OF GANGES SECURITIES LIMITED FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30" ,2021

To, The Board of Directors Ganges Securities Limited, 9/1, R.N. Mukherjee Road, Kolkata- 700001

We have reviewed the accompanying statement of Standalone unaudited financial results of Ganges Securities Limited ("the Company") for the quarter and half year ended September 30°, 2021 which are attached herewith, and are being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

These quarterly and half yearly financial results are the responsibility of the Company's Management and have been approved by the Board of Directors, have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34, 'Interim Financial Reporting' ("IndAS 34"), prescribed under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued there under or by the Institute of Chartered Accountants of India, as applicable and other accounting principles generally accepted in India. Our responsibility is to issue a report on statement based on our review.

We conducted our review 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 from material misstatement(s). 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, nothing has come to our attention that causes us to believe that the accompanying statement of standalone unaudited financial results prepared in accordance with the recognition and measurement principles laid down in the aforesaid Ind AS 34 prescribed under Section 133 of the Companies Act,2013, read with relevant rules issued there under and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 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 to attention to the Note No. 4 to the accompanied financial results in respect of the scheme of amalgamation ('the Scheme'), through which the Uttar Pradesh Trading Company Limited (UPTCL), erstwhile wholly owned subsidiary of the Company, has been amalgamated with the Company from the appointed date i.e., 1 April 2020 as approved by the National Company Law Tribunal ('NCLT') and the certified copy of which is received on 3 September 2021 and filed with the Registrar of Companies, Kanpur in accordance with the Companies Act, 2013 on 1 October 2021.

Other matters

We draw to attention to the Note No. 5 to the accompanied financial results in respect of the financial results for the quarter ended 30.06.2021 is after the considering the effect of the Scheme which has not been subject to a limited review or an audit by us and are based on the previously published financial results as adjusted for the difference arising due to the scheme.

For Agrawal Subodh & Co. Chartered Accountants (Firm's Reg No. 319260E)

cledeyedes

CA Chetan Kumar Nathani Partner Membership No.:310904 UDIN:213109044AAABM6036

Place: Kolkata Dated: 12*" November, 2021

			GANGES SECURITIES LIMITED Registered Office: P.O, Hargaon, District Sitapur, Uttar Pradesh - 261 121
			Phone (05862) 256220; Fax (05862) 256225, CIN : L74120UP2015PLC069869 Web-site : www.birla-sugar.com, E-mail : [email protected]
							(in lakhs)
	Statement of Unaudited Financial Results for the quarter and six month ended 30 September 2021		Quarter ended
Sr. No.	Particulars	30.09.2021	30.06.2021 (Refer Note 5)	30.09.2020	30.09.2021	Six months ended 30.09.2020	Year ended 31.03.2021
	1, Revenue from Operations	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	(a) Interest Income (b) Dividend Income	69.05 424.97	68.23 -	1.01 461.16	137.28 424,97	2.02 461,16	10.97
	Total Revenue from Operations 2, Other Income	494,02	68.23	462.17	562,25	463,18	482.71 493.68
	(a) Rental Income (b) Other Income	119.41 -	6.25	6.25	125.66	12.50	25.03
	Total Other Income 3. Total Income (1+2)	119.41 613.43	- 6.25 74.48	- 6.25 468.42	- 125.66	0.11 12.61	18.58 43.61
	4. Expenses (a) Cost of raw materials consumed				687.91	475.79	337.29
	(b) Purchases of stock-in-trade (c) Change in inventories of finished	- -	- -	- -	- -	- -	- :
	goods (d) Employee benefits expense	-	-		-	-	-
	(e) Finance costs (net) (f) Fees and commission expenses	13.90 3.95	13.95 3.90	_	27.85 7.85	2	= 733
	(g) Depreciation and amortisation expense	0.60 1.74	6.60 1.72	0.36 0.59	7.20 3.46	6.32 1.18	9.61 2.36
	(h) Administrative and other expenses Total Expenses	39.13	3.89	9.58	43.02	13.27	49.03
	5. Profit before exceptional items and tax	59.32 554,11	30.06 44.42	10,53 457,89	89.38 598.53	20.77 455.02	68.33 468.96
	(3-4) 6. Exceptional items 7. Profit before tax (5+6)	-	-	-	-	-	-
	8. Tax expense	554,11	44.42	457.89	598,53	455.02	468.96
	(i) Current tax (ii) Provision for tax related to earlier	- -	- -	- -	- -	- (1.62)	- (1.61)
	years no longer required written back (it) Deferred tax	-	-		-	-	-
	Total tax expense 9. Net Profit after tax (7-8)	- 554.11	- 44.42	- 457.89	- 598.53	(1.62) 456.64	(1.61) 470.57
10.	Other Comprehensive Income (i) Items that will not be reclassified subsequently to profit or loss	4,995.68	12,849.12	111.96	17,844.80	349.96	879.15
	(net of tax) (ii) Items that will be reclassified subsequently to profit or loss (net of tax)	:	:	=			2
	Total Other Comprehensive Income 11. Total Comprehensive Income [comprising net profit / (loss) and other	4,995.68 5,549.79	12,849.12 12,893.54	111.96 569.85	17,844.80 18,443.33	349.96 806.60	879.15 1,349.72
	comprehensive income] (9+10) 12. Paid-up Equity Share Capital	1,000.37	1,000.37	1,000.37	1,000.37	1,000.37	1,000.37
	(Face value per share & 10) 13. Other Equity 14, Earnings per equity share (of f 10 each) (in %):						3,465.49
	(a) Basic	5.54	044 *	4.57	5.98 *	436 *	4.70
	(b) Diluted * not annualised	§.54	044 *	4.57	5.98 *	4.56 *	4.70

Sr.	Statement of Assets and Liabilities Particulars	As on 30.09,2021] As on 31.03.2021	(@ in lakhs)
No.	A. ASSETS.	(Unaudited)	(Audited)
	1. Financial Assets (a) Cash and Cash Equivalents
	(b) Receivables	984,48	527.95

	(1) Trade Receivables	-	-
	(II) Other Receivables (c) Loans	132.82
	(d) Investments	3,350.00 46,111.30	-
	(e) Other Financial Assets	5,28
	Total Financial Assets 2. Non-financial Assets	50,583.88
	(a) Current Tax Assets (net)	117.00
	(b) Investment Property (c) Property, Plant & Equipment	49,66
	(d) Other Non-financial Assets	61.75	-
	Total Non-financial Assets	29.25 257.66
	TOTAL ASSETS	50,841.54	6,745.43
	B. LIABILITIES AND EQUITY
	1. LIABILITIES Financial Liabilities		6,090.05 1.14 6,619.14 41.99 30.85 33.45 126.29
	(a) Payables
	(I) Trade Payables
	(i) total outstanding dues of micro enterprises and small enterprises (ii) total outstanding dues of creditors other than micro enterprises and small enterprises	-	-
	(b) Subordinated Liabilities	15.34 254.97	3.10 247,12
	(c) Other Financial Liabilities Total Financial Liabilities	32.02	29.25
	Non-financial Liabilities	302.33	279,47
	(a) Provisions	11.20	-
	(b) Other Non-financial Liabilities Total Non-financial Liabilities	16.12	0.10
	Total Liabilities	27.32 329.65	0.10
	2. EQUITY		279.57
	(a) Equity Share Capital (b) Other Equity	1,000.37	1000.37
	Total Equity	49,511.52 50,511.89	5465.49 6,465.86

Notes:

GANGES SECURITIES LIMITED
Registered Office: P.O. Hargaon, District Sitapur, Uttar Pradesh - 261 121
Phone (05862) 256220; Fax (05862) 256225, CIN : L74120UP2015PLC069869
Web-site : www. birla-sugar.com, E-mail : [email protected]
Notes:
Statement of Cash Flows for period ended 30 September 2021		(in lakhs)
Particulars	Period ended 30.09.2021	Period ended 30.09.2020
(A) CASH FLOW FROM OPERATING ACTIVITIES:	(Unaudited)	(Unaudited)
Profit before tax	598.53	455.02
Adjustments for: Depreciation expense
Finance Costs	3.46 7.85	1.18 -
Working capital adjustments:	609.84	456,20
(Increase) / Decrease in Receivables	(132.82)	2.10
(Increase) in Loans Decrease in Other Financial Assets	(650.00)
Decrease / (Increase) in Other Non-financial Assets	16,15 4.20	0.07 (0.78)
Increase / (Decrease) in Payables Increase / (Decrease) in Other Financial Liabilities	12.07	(7.28)
Increase / (Decrease) in Other Non-financial Liabilities Cash Generation from Operations	277 16,02	(Lip (0.39)
Income tax paid (net of refund)	(121.77) (7.01)	448.81 (34.03)
Net Cash (used in) / from Operating Activities before impact of the Scheme relating to earlier period Impact of the Scheme relating to earlier period	(128.78)	414.78
Net Cash generated from Operating Activities	384.24 255.46	- 414.78
(B) CASH FLOW FROM INVESTING ACTIVITIES: Investment made
Net Cash used in Investing Activities before impact of the Scheme relating to earlier period	(0.11) (0.11)	- -
Impact of the Scheme relating to earlier period Net Cash used in Investing Activities	(156.12)
(C) CASH FLOW FROM FINANCING ACTIVITIES:	(156,23)
Net Cash used in Financing Activities before impact of the Scheme relating to earlier period Impact of the Scheme relating to earlier period	- (327.25)	-
Net Cash used in Financing Activities	(327.25)
Net Changes in Cash & Cash Equivalents (A + B + Cc) Cash & Cash Equivalents at the beginning of the period	(228.02) 527.95	414.78
Cash & Cash Equivalents transferred pursuant to the Scheme Cash & Cash Equivalents at the end of the period	684.55	107.05 :
The Statement of Cash Flows has been prepared under the "Indirect Method" as set out in Ind AS 7 "Statement of Cash Flows",	: 984.48	521.83
Rental Income, for the quarter and six months ended on 30 September 2021, includes € 105,22 lakhs related to prior periods.
The Company has only one business segment i.e. Investing Business and as such segment reporting as required by Ind AS 108 "Operating Segments" applicable,		is not
Consequent
to the scheme of amalgamation ('the Scheme'), approved by the National Company Law Tribunal ("NCLT') and the certified copy of the NCLT order received on 3 September 2021 and filed with the Registrar of Companies, Kanpur in accordance with the Companies Act, 2013 on 1 October 2021, Uttar Pradesh
Trading Company Limited (UPTCL), erstwhile wholly owned subsidiary of the Company, has been amalgamated with the Company from the appointed date i.e. 1 April 2020.
The financial results for the quarter ended 30 June 2021 as above is after considering the effect of the Scheme. Reconciliations for the same are as under:
Particulars		(in lakhs)
	Net Profit /	Total (Loss) after tax Comprehensive
Amount without considering the effect of the Scheme		Income
Add / (Less) :	(16.91)	529,16
- Increase in Revenue from Operations - Increase in Expenses	63.75	63.75
~ Increase in Change in fair value of equity instruments	(2.42) -	(2.42) 12,303.05
Amount after considering the effect of the Scheme	44.42	12,893.54

Particulars		(in lakhs)
	Net Profit / (Loss) after tax Comprehensive	Total Income
Amount without considering the effect of the Scheme Add / (Less) :	(16.91)	529,16
- Increase in Revenue from Operations - Increase in Expenses ~ Increase in Change in fair value of equity instruments	63.75 (2.42)	63.75 (2.42)
Amount after considering the effect of the Scheme	-	12,303.05

The financial results for the quarter and six months ended 30 September 2020 and for the year ended 31 March 2021 as above are without considering the effect of the Scheme. The effect of the Scheme during the above referred period are as under:

		GANGES SECURITIES LIMITED
	Registered Office: P.O. Hargaon, District Sitapur, Uttar Pradesh - 261 121
	Phone (05862) 256220, Fax (05862) 256225, CIN : L74120UP2015PLC069869
	Web-site : www.birla-sugar.com, E-mail - gangessecurities(@birlasugar.org
6. The financial results for the quarter and six months ended 30 September 2020 and for the year ended 31 March 2021 as above are without considering the
effect of the Scheme. The effect of the Scheme during the above referred period are as under:
Particulars						( in lakhs)
	Quarter ended	Net Profit / (Loss) after tax Six months	Year ended	Quarter ended	Total Comprehensive Income
	30.09.2020	period ended	31.03.2021	30.09.2020	Six months period ended	Year ended 31.03.2021
Amount without considering the effect of		30.09.2020			30.09.2020
the Scheme	457.89	456.64	470.57	569.85	806.60	1,349.72
Add / (Less) :
- Increase / (Decrease) in Revenue from Operations	(61.17)	2.64	164.59	(61.17)	2.64	164.59
~ Increase in Other Income
- Increase in Expenses	0.13	0.13	0.13	0.13	0.13	0.13
- Increase in Change in fair value of	(6.61) -	(8.98) -	(27.56) "	(6.61) 1,311.57	(8.98) 5,056.62	(27.56) 11,066.84
equity instruments Amount after considering the effect of the Scheme	390.24	450.43	607.73	1,813.77	5,857.01	12,553.72

The Statement of Assets and Liabilities as on 31 March 2021 above is without considering the effect of the Scheme.

1. Application, pursuant to the scheme, made by the Company to Reserve Bank of India for registration as Non Banking Financial Company is pending. 8. The above financial results have been reviewed by the Audit Committee and a The Limited Review for the quarter and six months Regulation 33 of SEBI (LODR) Regulations, 2015. pproved by the Board of Directors at their meetings held on 12 November 2021. period ended 30 September 2021 have been carried out by the Statutory Auditors as required under
1. The figure of the previous periods have been regrou ended 30 September 2021. ped / reclassified, wherever necessary, to conform to the classification for the quarter and six months period

For and on behalf of the Ganges Securities Limited of Directors

Director DIN: 00055786

Agrawal Subodh & Co.

Chartered Accountants

301, Victory House, 3rd Floor 1, Ganesh Chandra Avenue, Kolkata - 700 013 Phone : 2225-9430/31/32 E-mail ; [email protected] Website : www.asnco.in

INDEPENDENT AUDITOR'S LIMITED REVIEW REPORT ON THE CONSOLIDATED UNAUDITED FINANCIAL RESULTS OF GANGES SECURITIES LIMITED FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER, 30" 2021

To, The Board of Directors Ganges Securities Limited, 9/1, R.N. Mukherjee Road, Kolkata- 700001

1) We have reviewed the accompanying statement of consolidated unaudited financial results of Ganges Securities Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter and half year ended September 30" ,2021 which are attached herewith, and are being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
2) These quarterly and half yearly consolidated interim financial results are the responsibility of the Holding Company's Management and have been approved by the Board of Directors, have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34, 'Interim Financial Reporting' ("IndAS 34"), prescribed under section 133 of the Companies Act, 2013, read with relevant rules issued there under or by the Institute of Chartered Accountants of India, as applicable and other accounting principles generally accepted in India.

Our responsibility is to issue a report on statement based on our review.

3) We conducted our review 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 consolidated financial statements are free from material misstatement(s). 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.
4) We also performed procedures in accordance circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable.

The Statement includes the results of the following entity:

¢ Cinnatolliah Tea Limited

5) Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying statement of consolidated unaudited financial results prepared in accordance with recognition and measurement principles laid down in the aforesaid Ind AS 34 prescribed under Section 133 of the Companies Act, 2013 , as amended read with relevant rules issued there under and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms Listing regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.