February 4, 2021

Corporate Relationship Department Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400001

Capital Markets - Listing National Stock Exchange of India Ltd Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051

Dear Sir / Madam.

Sub: Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Stock Code: 500337 (BSE) / PRIMESECU (NSE) Re:

Pursuant to the provisions of Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we wish to inform you that the Board of Directors of the Company, at their Meeting held today, have taken on record the Unaudited Consolidated and Standalone Financial Results of the Company for the Third Quarter and Nine Months ended December 31, 2020.

Please find attached the following:

1. Press Release:
1. Unaudited Consolidated & Standalone Financial Results of the Company for the Third Quarter and Nine Months ended December 31, 2020;
1. Limited Review Report by M/s. Walker Chandiok & Co LLP, Independent Auditors on the Unaudited Financial Results (Consolidated & Standalone) for the Third Quarter and Nine Months ended December 31, 2020;

Please note that the Unaudited Financial Results will be published in the newspapers as per the provisions of Regulation 47 of SEBI Listing Regulations and the same will be available on the Stock Exchange websites at www.bseindia.com / www.nseindia.com and on the website of the Company at www.primesec.com.

The Board Meeting commenced at 3.30 p.m. and concluded at 7.10 p.m.

Yours faithfully,

For Prime Securities Limited

Company Secretary $(ACS-14359)$

Prime Securities Limited 1109 / 1110, Maker Chambers V, Nariman Point, Mumbai 400 021.

CIN: L67120MH1982PLC026724 www.primesec.com

Tel: +91-22-6184 2525 Fax: +91-22-2497 0777

UNAUDITED (CONSOLIDATED) FINANCIAL RESULTS OUARTER & NINE MONTHS ENDED DECEMBER 31, 2020

Total Revenues for the Quarter at Rs. 630 Lakhs v/s. Rs. 1,399 lakhs (O3-FY19-20)

Total Revenues for the Nine Months at Rs. 2,532 Lakhs v/s. Rs. 4,339 lakhs (Nine Months-FY19-20)

Cash Profit for the Quarter at Rs. 162 lakhs v/s. Rs. 559 lakhs (Q3-FY19-20) $(Down 71 \% )$

(Down 55 $\%$ )

$(Down 42 \% )$

Cash Profit for the Nine Months at Rs. 1,137 lakhs v/s. Rs. 2,085 lakhs (Nine Months-FY19-20) $(Down 45 \% )$

A) Six deals across diverse sectors contributed to this quarter's revenues.

B) Deal pipeline remains extremely robust.

C) A couple of large deal closures have slipped into Q4 (Jan to March 2021).

D) Cash and Cash Equivalents are at their highest level ever.

E) Merger of the Subsidiaries should get completed in Q4 (Jan to March 2021).

For Prime Securities Limited

JAYAKUMAR NARAYANSWAML

N. Javakumar Managing Director & Group CEO

Mumbai, February 4, 2021

Prime Securities Limited 1109 / 1110, Maker Chambers V. Nariman Point, Mumbai 400 021. CIN: L67120MH1982PLC026724 Website: www.primesec.com

Walker Chandiok & Co LLP 11th floor, Tower II, One International Center, SB Marg, Prabhadevi (W) Mumbai 400 013 India

T +91 22 6626 2699 F +91 22 6626 2601

and Year to Date Financial Results of Prime Securities Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Prime Securities Limited

1. We have reviewed the accompanying statement of unaudited consolidated financial results of Prime Securities Limited (refer Annexure 1 for the list of subsidiaries included in the Statement) for the quarter ended 31 December 2020 and the consolidated unaudited year to date results for the period 01 April 2020 to 31 December 2020 , being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.
1. This Statement, which is the responsibility of Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
1. We conducted our review of the Statement 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. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the SEBI Circular CIR/CFD/CMD1/44/2019 dated 29 March 2019 issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), to the extent applicable.

Chartered Accountants

Walker Chandiok & Co LLP is registered with limited liability with identification number AAC-2085 and its registered office at L-41 Connaught Circus, New Delhi, 110001, India

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune

and Year to Date Financial Results of Prime Securities Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and upon consideration of the review reports of other auditors referred to in paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.
1. We draw attention to Note 5 to the accompanying Statement, which indicates that the Company has adopted IND AS from 1 April 2017 instead of 1 April 2019 and considered the transition date as 01 April 2016 which is not in compliance with Companies (Indian Accounting Standards) (Amendment) Rules, 2016, dated 30 March 2016. However, management has assessed that the impact of applying the appropriate transition date as well as the possible impact of fines/penalty, if any, on account of such noncompliance on the financial statement of the Company would not be material.
1. We draw attention to Note 6 to the accompanying Statement, regarding the restatement done by the management of the Company in accordance with the principles of IND AS 8, Accounting Policies, Changes in Accounting Estimates and Errors on account of various adjustments which are further described in the aforesaid note.
1. We draw attention to Note 3 to the accompanying Statement, the following Emphasis of Matter is given by another firm of Chartered Accountants vide their report dated 03 February 2021 on the financial results of Primesec Investment Limited and Prime Research and Advisory Limited, subsidiaries of the Holding Company, reproduced by us as under:

the uncertainties relating to the effects of COVIDimpact on the accompanying financial results and operations of the Company as at the balance sheet date, the extent of which is significantly dependent on future developments as they evolve.

Our conclusion is not modified in respect of the above matters.

We did not review the interim financial information of two subsidiaries included in the Statement, whose 538 lakhs 1,065 lakhs, total net profit /(loss) after 188 lakhs (196) lakhs, to 187 lakhs (198) lakhs, for the quarter and year-to-date nine-month period ended on 31 December 2020, respectively, as considered in the Statement. These interim financial information have been reviewed by other auditor whose review reports have been furnished to us by the management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the review reports of such other auditor and the procedures performed by us as stated in paragraph 3 above.

Our conclusion is not modified in respect of this matter with respect to our reliance on the work done by and the reports of the other auditors.

This space has been intentionally left blank

and Year to Date Financial Results of Prime Securities Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

The Statement includes the interim financial information of two subsidiaries, which have not been reviewed by their auditors, whose interim financial information reflects 2 lakhs 9 lakhs, total net profit 0.91 lakhs 3 lakhs, total comprehensive income 0.91 lakhs and 3 lakhs for the quarter and year-to-date nine-month period ended 31 December 2020 respectively, based on their financial information, which have not been reviewed by their auditors, and have been furnished to amounts and disclosures included in respect of these subsidiaries, are based solely on such unreviewed interim financial information. According to the information and explanations given to us by the Holding management, these interim financial information are not material to the Group.

Our conclusion is not modified in respect of this matter with respect to our reliance on the financial information certified by the Board of Directors of the respective subsidiaries.

For Walker Chandiok & Co LLP

Chartered Accountants Firm Registration No:001076N/N500013

Murad D. Daruwalla Partner Membership No:043334

UDIN:21043334AAAAAK7732

Place: Mumbai Date: 04 February 2021

and Year to Date Financial Results of Prime Securities Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Annexure 1

List of subsidiaries included in the Statement:

1. Primesec Investments Limited
1. Prime Research & Advisory Limited
1. Prime Commodities Broking (India) Private Limited
1. Prime Funds Management Limited

This space has been intentionally left blank

PRIME SECURITIES LIMITED - CONSOLIDATED

$\begin{array}{c} \textit{Reg} \textit{108110} \\ \textit{1081110} \end{array} \begin{array}{c} \textit{Reg} \textit{1081110} \textit{Make } \textit{Gumbers V, Naimam Point, Mumbat 400021} \ \textit{10811} \end{array}$

						(Rs. in Lakhs, unless otherwise stated)
	Particulars		Quarter ended			Period ended	Year ended
		(Unaudited) $31-Dec-20$	(Unaudited) $30 - \text{Sep-20}$	(Unaudited)# 31-Dec-19	(Unaudited) 31-Dec-20	Unaudited)# $31 - Dec-19$	31-Mar-20 Audited
	Revenue from operations
	Interest income $\mathbf{C}$	$\mathcal{S}$	56	$\mathfrak{L}$	$\overline{5}$	50
	Dividend income						$\frac{1}{2}$ 0 $\frac{4}{7}$
	Rental income ⊕.		$\hat{\mathbf{r}}$		$\bar{1}$	$\circ$ 4
	Fee and commission income $\widehat{\boldsymbol{\Sigma}}$	500	$790\,$	1,352	2,233	4,285	7,366
	Net gain on fair value changes ζ	$\bf{58}$		$\overline{a}$	$\overline{110}$
	vi) Gain on sale/redemption of investments (net)	$\overline{\phantom{a}}$		$\mathbf{L}$	28	$\mathbf{r}=\mathbf{r}$	$\bar{1}$
	Revenue from operations	$630\,$		1,399	2,531	4,339	7,445
Ħ	Other income	$\bullet$	$328^{\circ}$
目	Total income (I+II)	630		1,399	2,532	4,339	7,446
	Expenses
	Finance cost	$\Xi \equiv$	$^{12}$ $^4$	$\tilde{\phantom{a}}$		$16\atop 674$	22
	Fees and commission expense ≘			272			1,880
	Net loss on fair value changes Ω	$\overline{1}$	$\overline{1}$		$397$ $147$ $147$	139	129
	Impairment on financial instruments $\tilde{\Sigma}$	$\frac{9}{4}$		338		516	1,969
	Employee benefit expense $\widehat{\mathbf{z}}$	384	78888			1,131	1,847
	vi) Depreciation & amortisation expense			$\frac{21}{391}$	100	66	$\boldsymbol{\mathsf{s}}$
	vii) Other expenses				316	656	426
≧	Total expenses	568	606	1,404	.969	3,198	6,372
$\triangleright$	Profit / (loss) before tax (III-IV)	$\mathfrak{S}$		$\odot$	563	1,141	1,074
⋝	Tax expenses / (credits)
	Current tax	(38)	76	38	120	295	269
	Deferred tax liabilities / (assets)	$\blacktriangleleft$	$\binom{1}{214}$	$\blacksquare$	$\Rightarrow$		$\overline{16}$
	VII Profit / (loss) after tax (V-VI)	$\frac{8}{5}$		(44)	403	846	789
	VIII Other comprehensive income / (loss)
	a) I) Items that will not be reclassified to profit or loss
	(a) Remeasurement of defined employee benefit plans	$\overline{\Theta}$	$\overline{5}$	$\overline{c}$	$\overline{\widehat{c}}$	$\circ$	⊚ ಇ
	II) Income tax relating to items that will not be reclassified to profit or loss	$\mathbf{I}$			$\overline{ }$	$\mathbf{C}$
	I) Items that will be reclassified to profit or loss َءَ	$\bar{\mathbf{r}}$		$\mathbf{r} = \mathbf{r}$	$\hat{\mathbf{I}}$	$\mathbf{I}$
	II) Income tax relating to items that will be reclassified to profit or loss				$\hat{\mathbf{r}}$	$\mathbf{r}$	$\overline{\phantom{a}}$
	Other comprehensive income / (loss) (a+b)	$\overline{\mathrm{e}}$	$\tilde{\epsilon}$	$\ominus$	$\overline{c}$	$\odot$	$\hat{\epsilon}$
M	Total comprehensive income for the quarter / period (VII +VIII)
	(Comprising profit / (loss) and other comprehensive income for the quarter / period)	$\mathbf{5}$	209	(45)	$\frac{401}{5}$	840	783
	Paid-up equity share capital (face value Rs. 5 each)	1,330	1,330	1,330	1,330	1,330	1,330
	Other equity						3,200
$\Sigma$	Earning / (loss) per equity share
	(Rs. not annualised for the quarters and period ended) (face value Rs. 5 per equity share)
	Basic (amount in Rs.)	0.36	0.81	(0.17)		3.19	2.98
	Diluted (amount in Rs.) $\overline{1}$	0.36	0.79	(0.16)	$\begin{array}{c} 1.52 \ 1.50 \end{array}$	3.17	2.95
#	Refer Note 6

Consolidated Notes:

The above consolidated financial results have been prepared in accordance with the recognition and measurement principles of IND AS 34 prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India. The consolidated financial results were reviewed by Audit Committee, approved and taken on record by the Board of Directors at its Meeting held on February 04, 2021. The results for the quarter and nine months ended December 31, 2020 have been reviewed by the statutory auditors of the Company. $\overline{a}$
The Consolidated financial results include the reviewed financial results of the wholly-owned subsidiaries Primesec Investments Limited & Prime Research & Advisory Limited and the unaudited financial results of the wholly-owned subsidiaries Prime Commodities Broking (India) Limited & Prime Funds Management Limited. $\widehat{\omega}$
account all possible impact of known events arising out of COVID-19 pandemic in the preparation of financial results. Primesec Investments Limited, which provides corporate advisory services for corporate estructuring, has seen assignments on hold due to the suspension in the operation of the Insolvency Code in view of COVID-19. Prime Research & Advisory Limited, has witnessed fewer deal closures during the Amid continued COVID-19 pandemic and gradual phase out of restrictions, economic activities have returned to normal. Employees of the group continue to work from home. The group believes that it has taken into quarter. The impact assessment of COVID 19 is a continuing process given its nature and duration. The Company is continuously monitoring any material changes to future economic conditions. $\hat{3}$
The Board of Directors at its meeting had on January 9, 2020, approved the Scheme of Arrangement, u/s 230 to 232 read with Section 66, 52 & other applicable provisions of the Companies Act, 2013, comprising Merger of two wholly-owned subsidianes, Primese Investments Limited & Prime Commodities Broking (India) Limited into the Company. Post receipt of No Objection from Stock Exchanges / SEBI, an application was filed with NCLT for approval of the Scheme of Arrangement, which has been admitted and NCLT has granted dispensation from holding meeting of Shareholders / Creditors. Pursuant to the directions of NCLT, mimations have been sent to the regulatory authorities for their representation. A petition has also been filed with NCLT for granting approval to the Scheme of Arrangement, which is pending final hearing. $\widehat{+}$
The Company had adopted Ind-AS from April 1, 2017 and comparative financial information for the year ended March 31, 2018 and transition date opening balance sheet as at April 1, 2016 were prepared in accordance with Ind-AS. The Company being a listed NBFC (for the purposes of complying with IND AS, as per provisions of the Companies (Indian Accounting Standard) Rules, 2015). As a Company with a networth of less than Rs. 500 crores, it should have adopted Ind AS from April 1, 2019 with transition date being April 1, 2018 in accordance with Companies (Indian Accounting Standards) (Amendment) Rules, 2016, dated March 30, 2016. $\delta$

The Management has ascertained that the impact of change in transition date from April 1, 2016 to April 1, 2018 has an insignificant impact on equity as on April 1, 2018 and the management believes that no adjustment is required in the financial results for the current quarter and nine months ended.

Further, the Management has also sought legal opinion to ascertain the qualitative and quantitative impact, for the contravention of Companies (Indian Accounting Standards) (Amendment) Rules, 2016, dated March 30, 2016 and believes that the same is not material to the financial results.

Further, the Ministry of Corporate Affairs (MCA), vide its notification dated October 11, 2018 issued Division III of Schedule III, which provides the format for financial results of Non-Banking Financial Companies, as defined in the Companies (Indian Accounting Standards) (Amendments) Rules 2016. These Financial results have been prepared in accordance with Division III.

In accordance with the requirements of Indian Accounting Standards (Ind-AS) 8, "Accounting Policies, Changes in Accounting Estimates and Errors", the management has restated employee Benefit expenses for the Employee Benefit Expenses for the quarter and mine month ended December 31, 2019 aggregating to Rs. 379 lakhs and Rs. 1,131 lakhs respectively have been adjusted on account of de-recognition of expenses related comparative quarter and nine months ended in order to comply with the accounting principles enunciated under the relevant Ind-AS's: $\hat{\circ}$
to performance bonus to the tune of Rs. 65 lakhs and Rs. 225 lakhs respectively.
- The Group has identified two business segments (i) Financial Advisory & Intermediation services and (ii) Brokerage from mutual fund distribution as per Ind-AS 108. However, the segment "Brokerage from mutual fund distribution" does not exceed the quantitative thresholds as prescribed by paragraph 13 of Ind-AS 108. Hence, the entity has not reported separate information for each operating segment. $\widehat{\tau}$
- $\widehat{\infty}$
- The amounts reflected as "0" in the Financial Information are values with less than rupees fifty thousand.
  Previous quarter / period ended figures have been regrouped / reclassified, wherever found necessary, to conform to

For Prime Securities Limited

JAYAKUMAR
NARAYANSWAM Alian Terra da Ba

February 04, 2021 Mumba

N. Javakumar Managing Director & Group CEO

Walker Chandiok & Co LLP 11th floor, Tower II, One International Center, SB Marg, Prabhadevi (W) Mumbai 400 013 India

T +91 22 6626 2699 F +91 22 6626 2601

Independent and Year to Date Financial Results of Prime Securities Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Prime Securities Limited

1. We have reviewed the accompanying statement of standalone unaudited financial results of Prime Securities Limited for the quarter ended 31 December 2020 and the year to date results for the period 01 April 2020 to 31 December 2020 , being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.
1. Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Fin and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
1. We conducted our review of the Statement 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. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.
1. We draw attention to Note 4 to the accompanying Statement, which indicates that the Company has adopted IND AS from 1 April 2017 instead of 1 April 2019 and considered the transition date as 01 April 2016 which is not in compliance with Companies (Indian Accounting Standards) (Amendment) Rules, 2016, dated 30 March 2016. However, management has assessed that the impact of applying the appropriate transition date as well as the possible impact of fines/penalty, if any, on account of such non-compliance on the financial statement of the Company would not be material.

Page 1 of 2

Chartered Accountants

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune

Independent and Year to Date Financial Results of Prime Securities Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

1. We draw attention to Note 5 and intercompany deposit extended to Primesec Investments Limited, a wholly owned subsidiary of the Company aggregating to Rs. 3,853.82 lakhs as at 31 December 2020, which are considered as fully recoverable by the management based on the projected deals and estimated forecast. However, these are dependent on certain assumptions and estimates considered by management, the appropriateness of which is dependent upon the realization of the related business plans.
1. We draw attention to Note 6 to the accompanying Statement, regarding the restatement done by the management of the Company in accordance with the principles of IND AS 8, Accounting Policies, Changes in Accounting Estimates and Errors on account of various adjustments which are further described in the aforesaid note.

For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No:001076N/N500013

Murad D. Daruwalla Partner Membership No:043334

UDIN:21043334AAAAAJ7320

Place: Mumbai Date: 04 February 2021

	PRIME SECURITIES LIMITED
	Tel: +91-22-61842525 Fax: +91-22-24970777 Website: www.primesec.com Email: [email protected] Regd. Office: 1109/1110, Maker Chambers V, Nariman Point, Mumbai 400021	(CIN: L67120MH1982PLC026724)
	FINANCIAL RESULTS FOR THE QUARTER & NINE MONTHS ENDED DECEMBER 31, 2020 STATEMENT OF STANDALONE					Rs. in Lakhs, unless otherwise stated)
	Particulars		Quarter ended		Period ended		Year ended
		(Unaudited) $31 - Dec-20$	(Unaudited) 30-Sep-20	Unaudited)# 31-Dec-19	(Unaudited) $31 - Dec-20$	Unaudited)# $31-Dec-19$	31-Mar-20 (Audited)
	Revenue from operations
	Interest income	35	27	$\overline{17}$	88	$\ddot{ }$	S.
	Dividend income iii) Rental income ଗ		$\mathbf{u}=\mathbf{u}$	$\circ$ $\sim$	$\blacksquare$	$\blacksquare$	4
	iv) Fee and commission income		775	$12\,$	1315	1,325	2,225
	Net gain on fair value changes Φ	3.57		$16\,$	38
	Gain on sale / redemption of investments (net) Revenue from operations $\widehat{\mathbf{z}}$	$\boldsymbol{8}$	$12\,$ 821	$\tau$ $\hat{\mathbf{r}}$	1,473 32	1,372	2,284 $\bar{\mathbf{I}}$
$\blacksquare$	Other income	32	$33\,$	$65\,$	5	195	260
$\Xi$	Total income (I+II)	119	854	112	1,570	1,567	2,544
	Expenses
	Fee and commission expense Finance cost	००	$\frac{5}{6}$	$\overline{\phantom{0}}$ $\overline{21}$	$\frac{8}{5}$ $\mathbf{L}$		$^{\circ}$ $^{\circ}$
	Net loss on fair value changes Ê ଳ		$\mathbf{r}$		$\bar{\mathbf{r}}$	4 8 3	$33\,$
	iv) Impairment on financial instruments		$\bar{\rm I}$	$125\,$		186	888
	Employee benefit expenses ζ	156	$160\,$	208	476
	vi) Depreciation and amortisation expense	$\mathbf{L}$	$\overline{15}$	$\bullet$	$\ddot{e}$	$\Box$	$\mathfrak{L}$
	vii) Other expenses	$\overline{7}$	$\mathcal{O}$	113	185	267	422
	Profit / (loss) before tax (III-IV) Total expenses	$(133)$ 252	307 547	(361) 473	813 757	396 1,171	2,762 (218)
	Tax expenses / (credits)
	Current tax	(38)	101	(82)	$\frac{2}{1}$	$\rm 89$	$\mathfrak{S}$
	Deferred tax liabilities / (assets)	$\bullet$	$\odot$		$\overline{\mathbf{5}}$		$\boldsymbol{z}$
	VIII Other comprehensive income/(loss) VII Profit / (loss) after tax (V-VI)	(95)	448	(280)	607	307	(239)
	I) Items that will not be reclassified to profit or loss $\widehat{a}$
	(a) Remeasurement of defined employee benefit plans	$\bullet$	$\frac{1}{1}$	$\overline{\epsilon}$	$\bullet$	$\overline{5}$	$\epsilon$
	II) Income tax relating to items that will not be reclassified to profit or loss I) Items that will be reclassified to profit or loss a	$\overline{(\mathbf{0})}$		$\bar{1}$ $\blacksquare$	$\overline{\epsilon}$
	II) Income tax relating to items that will be reclassified to profit or loss				$\mathbf{r}$
	Other comprehensive income / (loss) (a+b)	$\bullet$	$\odot$	$\ominus$	$\bullet$	$\odot$	$\odot$
Σ	(Comprising profit / (loss) and other comprehensive income for the quarter / period) Total comprehensive income / (loss) for the quarter / period (VII + VIII)	(95)	445	(281)	607	302	(24)
	i) Paid-up equity share capital (face value Rs. 5 each) Other equity	1,330	1,330	1,330	1,330	1,330	6,098 1,330
X	Earning / (loss) per equity share (face value Rs.5 per equity share)
	(Rs. not annualised for the quarters and period ended) Basic (amount in Rs.)						(0.90)
	Diluted (amount in Rs.)	(0.36) (0.35)	1.69 1.66	$\frac{(1.06)}{(1.05)}$	2.29 2.25	116 115	(0.90)
	$#$ refer note number 6

۰, I

The above standalone financial results have been prepared in accordance with the recognition and measurement principles of IND AS 34 prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India. The standalone financial results were reviewed by Audit Committee, approved and taken on record by the Board of Directors at its Meeting held on February 04, 2021. The results for the quarter and nine months ended December 31, 2020 have been reviewed by the statutory auditors of the Company. $\hat{=}$
Amid continued COVID-19 pandemic and gradual phase out of restrictions, economic activities have returned to normal. Employees of the company continue to work from home. The Company believes that it has taken into account all possible impact of known events arising out of COVID-19 pandemic in the preparation of financial results. However, the impact assessment of COVID 19 is a continuing process given its nature and duration. The Company is continuously monitoring any material changes to future economic conditions. $\widehat{z}$
SEBI, an application was filed with NCLT for approval of the Scheme of Arrangement, which has been admitted and NCLT has granted dispensation from holding meeting of Shareholders / Creditors. Pursuant to the directions of NCLT, intimations have been sent to the regulatory authorities for their representation. A petition has also been filed with NCLT for granting approval to the Scheme of Arrangement, which is The Board of Directors at its meeting held on January 9, 2020, approved the Scheme of Arrangement, u's 230 to 252 read with Section 66, 52 & other applicable provisions of the Companies Act, 2013, comprising Nerger of two pending final hearing. $\widehat{3}$
The Company had adopted Ind-AS from April 1, 2017 and comparative financial information for the year ended March 31, 2018 and transition date opening balance sheet as at April 1, 2016 were prepared in accordance with Ind-A net-worth of less than Rs. 500 crores, it should have adopted Ind AS from April 1, 2019 with transition date being April 1, 2018 in accordance with Companies (Indian Accounting Standards) (Annendment) Rules, 2016, dated March 30, 2016. $\widehat{+}$

The Management has ascertained that the impact of change in transition date from April 1, 2016 to April 1, 2018 has an insignificant impact on equity and the management believes that no adjustment is required in the financial results for the current quarter and nine months ended.

The Company has a financial exposure of Rs. 3853.82 lakhs as at December 31, 2020 to its wholly owned subsidiary viz. Primesee Investment Limited ('PIL'') investment in equity shares and inter-Company has a negative net-worth of Rs. (2412.11) Lakhs. However, having regard to efforts undertaken by the Board of PIL, among other things to augment revenue sources and realise value of its Based on the aforesaid facts, projected deals, estimated forecast and proposed Scheme of arrangement, approvanced by the Board of Directors, pending approval from NCLT. the management believes that no investments, the financial results of PIL have been prepared on the basis that it is going concern and that no adjustment are required to the carrying value of asset and liabilities. deposits PIL $\hat{5}$
In accordance with the requirements of Indian Accounting Standards (Ind-AS) 6, "Accounting Policies, Changes in Accounting Estimates and Errors", the management has restated certain account balances for provision is necessary for diminution in the value of the Company's financial exposure to PIL. $\hat{\circ}$

a) Employee Benefit Expenses for the quarter and nine month ended December 31, 2019 aggregating to Rs. 208 lakhs and Rs. 582 lakhs respectively have been adjusted for de-recognition of expenses related to the comparative quarter and nine month in order to comply with the accounting principles enunciated under the relevant Ind-AS's: performance bonus to the tune of Rs. 65 Lakhs and Rs 134 Lakhs respectively.

b) Other income for the quarter and nine month ended December 31, 2019 aggregating to Rs. 65 lakhs and Rs. 195 lakhs respectively adjusted on account of income from Business Support Service charged to its subsidiary company in accordance with the cost sharing agreement.

The Company has only one segment i.e. Financial Advisory & Intermediation services. There are no separate reportable segments as required by Ind-AS 108.
The amounts reflected as "0" in the Financial Information are values with less than rupees fifty thousand. ನ
ನಿಂ
Previous quarter / period ended figures have been regrouped / reclassified, wherever found necessary, to conform to current period's presentation.

For Prime Securities Limited

February 04, 2021 Mumbai.

Managing Director & Group CEO N. Jayakumar

AI assistant

Prime Securities Ltd. Interim / Quarterly Report 2021

59172_rns_2021-02-04_5d65c9f5-fc3e-4d7f-8470-6b043f701a17.pdf

UNAUDITED (CONSOLIDATED) FINANCIAL RESULTS OUARTER & NINE MONTHS ENDED DECEMBER 31, 2020

and Year to Date Financial Results of Prime Securities Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)