Simplex Realty Limited — Annual Report 2022

May 25, 2022

25th May, 2022

Department of Corporate Services

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001

Dear Sir/Madam,

Ref: BSE Security Code 503229 Sub.: Outcome of the Board Meeting held on 25th May, 2022

Pursuant to Regulation 30 read with Clause 4 of the Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that the Board of Directors of the Company at its meeting held on today i.e. 25th May, 2022, inter-alia, considered and approved the following:

• i) Audited Annual Standalone and Consolidated Financial Results along with Auditors Report for the quarter and year ended 31 st March, 2022. The said Results have been reviewed by the Audit Committee. Annexure-1
• ii) Final dividend of ` 1/- per equity share, subject to members approval at the ensuing Annual General Meeting ("AGM") of the Company. The dividend, if approved by the Members of the Company will be paid within 30 days from the date of AGM.
• iii) Appointment of M/s. Taher Sapatwala & Associates, Practicing Company Secretaries, as Secretarial Auditors of the Company for the financial year 2022-2023
• iv) The 109th Annual General Meeting of the Company has been scheduled to be held on 3 rd August, 2022
• v) Closure of the Register of Members in respect of Equity Shares of the Company from Thursday, 28th July, 2022 to Wednesday, 3rd August, 2022 (both days inclusive) for the purpose of 109th Annual General Meeting of the Company and dividend payment, subject to members approval. Annexure-2

vi) Appointment of Mr. Praveen Kumar, (DIN 09617351) as an Additional Director of the Company. Annexure-3

The meeting of the Board of the Company commenced at 1.00 p.m. and concluded at 3.15 p.m.

Kindly take the same on your record.

Thanking you,

Yours faithfully, For Simplex Realty Limited

Kinjal P Shah Company Secretary and Compliance Officer

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS

To

The Board of Directors of Simplex Realty Limited

Opinion

We have audited the accompanying Statement of Standalone Financial Results of SIMPLEX REAL TY LIMITED (the "Company"), for the quarter and year ended March 31, 2022 (the "Statement"), 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").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

• (ii) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• (iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the Net Profit and Total Comprehensive Income and other financial information of the Company for the year ended March 31, 2022.

Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2022 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 paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI'') together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2022 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 ICAl's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for the Standalone Financial Results

This Statement, which includes the Standalone Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Standalone Financial Results for the year ended March 31, 2022, has been compiled from the related audited interim Standalone financial information. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended March 31, 2022 that give a true and fair view of the Standalone net profit and Standalone other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 of the Act, read with 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 provisions of the Act for safeguarding the assets of the Company and for preventing and

frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the 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 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 Company are responsible for assessing the ability of the Company 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 of the Company are responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities

(a) Audit of the STANDALONE Financial Results

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the year ended March 31, 2022 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 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 this Standalone Financial Results.

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

• • Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, 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.
• • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• • Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.

continue as a going concern. 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 Standalone 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 Annual Standalone Financial $\bullet$ Results, including the disclosures, and whether the Annual Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the Annual Financial Results / Financial Information of the, entities within the Company to express an opinion on the Annual Standalone Financial Results.

Materiality is the magnitude of misstatements in the Annual Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Standalone Financial Results may be influenced.

We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Standalone Financial Results.

We communicate with those charged with governance of the Company 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.

Place: Mumbai Date: 25th May, 2022. UDIN: 22101388AJOLBZ1329

SIMPLEX REALTY LIMITED 30, KESHAVRAO KHADYE MARG, SANT GADGE MAHARAJ CHOWK, MUMBAI- 400 011.

	STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2022					₹ in Lakhs)
			Quarter ended		Year ended
	Sr. No. Particulars	31.03.2022	31.12.2021	31.03.2021	31.03.2022	31.03.2021
		Audited	Unaudited	Audited	Audited	Audited
1	Revenue from operations	20.84	21.90	16.55	198.49	415.60
2	Other income	256.75	140.98	145.04	680.39	508.55
3	Total income (1+2)	277.59	162.88	161.59	878.88	924.15
4	Expenses
	a) Cost of development/sales	$\blacksquare$		(0.22)	102.36	442.14
	b) Employee benefits expense	68.51	71.13	71.62	271.28	270.19
	c) Finance costs	1.80	2.16	3.97	9.80	20.63
	d) Depreciation	4.05	4.17	3.38	16.35	12.35
	e) Other expenses	44.31	51.69	40.48	165.65	138.03
	Total expenses	118.67	129.15	119.23	565.44	883.34
5	Profit before exceptional items and tax (3-4)	158.92	33.73	42.36	313.44	40.81
6	Exceptional items
7	Profit before tax (5-6)	158.92	33.73	42.36	313.44	40.81
8	Tax expenses :
	Current tax	14.98	5.17	7.01	29.31	7.01
	Deferred tax liability/ (asset)	12.06	2.52	(14.57)	34.55	(12.72)
	Earlier year taxes	2.77		0.02	2.77	0.02
9	Profit for the period (7-8)	129.11	26.04	49.90	246.81	46.50
10	Other Comprehensive Income/(Expense) - (OCI) - (net of tax)
	a) Items that will not be reclassified to profit or loss	(14.36)	(1.80)	36.24	10.54	54.43
	b) Items that may be reclassified to profit or loss	(4.91)	1.11	(2.04)	7.60	44.23
	Total Other Comprehensive Income/(Expense)	(19.27)	(0.69)	34.20	18.14	98.66
11	Total Comprehensive Income/(Expense) for the period (9+10)	109.84	25.35	84.10	264.95	145.16
12	Paid-up equity share capital (face value of ₹10/- each)	299.14	299.14	299.14	299.14	299.14
13	Other equity excluding Revaluation reserves				11,126.47	10,861.52
14	Basic & Diluted earnings per share (face value of ₹10/- each)*	4.32	0.87	1.67	8.25	1.55
	* Not annualised, except year end basic and diluted EPS

Notes: -

The above results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 25th May, 2022. 1.

The Board of Directors have recommended a dividend of ₹1 per equity share (Face value of ₹10/- each) for the year ended 31st March, 2022 subject to approval of members at 2. the Annual General Meeting.

The financial results are in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with rules made $3.$ thereunder and other recognised accounting practices and policies to the extent applicable.

The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of 4. the respective financial year.

The Company, as at the date of approval of these financial results has considered internal and external sources of information, in assessing the possible effects that may result 5. from the global health pandemic relating to COVID-19 on the carrying amounts of loans, investments, inventories and other assets. As on the date of approval of these financial results, the Company has concluded that the impact of COVID - 19 is not material based on these estimates and expects to recover the carrying amount of these assets. Due to the nature of the pandemic, the Company will continue to monitor any changes to the future economic conditions.

The statutory auditors have expressed an unqualified audit opinion on the audited standalone financial results for the quarter and year ended 31st March, 2022. 6.

The Company has only one business segment viz real estate development, disclosure under Ind AS 108 on "Operating Segments" is not applicable. 7.

Figures of the previous period/ year have been regrouped wherever necessary to conform to the current period/ year presentation. 8.

Place: Mumbai, Dated: 25th May, 2022

For Simplex Realty Limited

Nandan Damani Chairman & Managing Director

CIN-L17110MH1912PLC000351

AUDITED STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS ON 31ST MARCH, 2022

		(₹ In Lakhs)
Particulars	Year ended	Year ended
	31.03.2022	31.03.2021
ASSETS A
Non-Current Assets I
Property, Plant and Equipment	158.87	176.96
Capital Work-In-Progress	11.39
Financial Assets:
Investments	2,356.80	2,759.57
Loans	6.04	2.58
Other Financial Assets	15.91	15.84
Deferred Tax Assets (Net)	390.00	427.80
Other Non-Current Assets	103.22	174.17
Total Non-current Assets	3,042.23	3,556.92
Il Current Assets
Inventories	3,356.68	3,163.53
Financial Assets:
Investments	640.44	661.28
Cash and Cash Equivalents	318.21	24.89
Bank Balances other than above	5.62	9.36
Loans	3,397.82	2,958.35
Other Financial Assets	91.45	302.24
Other Current Assets	856.72	840.74
Total Current Assets	8,666.94	7,960.39
TOTAL ASSETS BEQUITY AND LIABILITIES	11,709.17	11,517.31
I Equity
Equity Share Capital	299.37	299.37
Other Equity	11,126.47 11,425.84	10,861.52 11,160.89
Total Equity Liabilities
II Non-Current Liabilities:
Financial Liabilities:
Borrowings	۰	65.21
Other Non-Current Financial Liabilities		17.60
Provisions	19.62	18.23
Other Non-Current Liabilities		0.43
Total Non-Current Liabilities	19.62	101.47
III Current Liabilities
Financial Liabilities:	35.36	50.01
Borrowings Trade Payables	13.99	15.49
Other Financial Liabilities	145.64	124.88
Other Current Liabilities	6.69	5.51
Provisions	62.03	59.06
Total Current Liabilities	263.71	254.95
Total Liabilities	283.33	356.42
TOTAL EQUITY AND LIABILITIES	11,709.17	11,517.31

CIN-L17110MH1912PLC000351

SIMPLEX REALTY LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2022

			2021-22 ₹	(र in Lakhs) 2020-21 ₹
А.	CASH FLOW FROM OPERATING ACTIVITIES: PROFIT BEFORE TAX		313.44	40.81
	Adjustments for: Depreciation on property, plant and equipment		16.35	12.35
	Interest expenses		9.80	20.63
	Profit on sale of investments (net)		(1.76)	(25.35)
	Dividend income Interest income		(16.43) (519.67)	(16.39) (421.08)
	Profit on sale of fixed assets		(6.48)	(19.93)
	Sundry balances written off / (back) - (net)		(4.49)
	Changes in fair value of financial assets at fair value through profit or loss		0.62	3.31
	Unwinding of discount on security deposit		(1.74)	(1.74)
	Sundry assets written off Impairment on Non Current Investment		0.02 (103.86)	$\overline{\phantom{a}}$
	OPERATING LOSS BEFORE EXCEPTIONAL ITEM AND WORKING CAPITAL CHANGES		(314.20)	(407.39)
	Adjustment for changes in working capital
	Adjustment for (increase) / decrease in operating assets:
	Inventories		(193.14)	350.61
	Other financial assets		5.69	306.41
	Other current assets Other bank balances		(15.98) 3.75	0.64 1.65
	Adjustment for increase / (decrease) in operating liabilities:
	Other financial liabilities		5.76	(17.36)
	Trade payables		(1.50)	0.71
	Long-term provisions Short-term provisions		3.34 2.97	(1.12) 6.57
	Other liabilities		2.48	(7.80)
	CASH GENERATED FROM / (USED IN) OPERATIONS		(500.83)	232.92
	Direct taxes (paid) / refund received		37.63	(26.84)
	NET CASH GENERATED FROM / (USED IN) OPERATING ACTIVITIES	(A)	(463.20)	206.08
	B. CASH FLOW FROM INVESTING ACTIVITIES :
	Purchase of fixed assets		(12.10)	(51.43)
	Sale of fixed assets Purchase of investments		8.90 (122.00)	21.00 (1,848.66)
	Sale of investments		668.18	2,176.61
	Dividend received		16.43	16.39
	Interest received		722.18	311.43
	Loans / Inter corporate deposits refund / (given) - net		(437.29) 844.30	(720.15)
	NET CASH (USED IN) / GENERATED FROM INVESTING ACTIVITIES	(B)		(94.81)
C.	CASH FLOW FROM FINANCING ACTIVITIES:
	Proceeds from / (repayment) of borrowings (net)		(79.87)	(89.21)
	Interest paid NET CASH (USED IN) FINANCING ACTIVITIES	(C)	(7.91) (87.78)	(18.92) (108.13)
		$(A+B+C)$	293.32	3.14
	NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS
	CASH AND CASH EQUIVALENTS - AT THE START OF THE YEAR		24.89	21.75
	CASH AND CASH EQUIVALENTS - AT THE END OF THE YEAR		318.21	24.89
	Cash and cash equivalents comprise of :		As on	As on
	Balances with Banks:		31.03.22	31.03.21
	- in Current accounts		318.16	24.76
	Cash on hand		0.05	0.13
	Cash and cash equivalents		318.21	24.89

30, Keshavrao Khadye Marg, Sant Gadge Maharaj Chowk, Mahalaxmi (E), Mumbai -- 400011
T: +91 22 2308 2951 | F: +91 22 23072773 | E: investors@simplex-group.com | W: www.simplex-group.com

$\widehat{\mathbb{A}_0}$

Khandelwal & Mehta LLP

Chartered Accountants

$(LLP NO.AAE-3742)$

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF CONSOLIDATED FINANCIAL RESULTS

To The Board of Directors of Simplex Realty Limited

Opinion

We have audited the accompanying Statement of Consolidated Financial Results of SIMPLEX REALTY LIMITED ("the Company") and it's associates (the Company and its associates together referred to as the "Group") for the quarter and year ended 31^st March, 2022 (the "Statement"), 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").

Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of the other auditors on separate financial information referred to in Other Matters section below, the Consolidated Financial Results for the year ended 31st March, 2022:

• includes the results of the following entities; $(i)$
• a) Simplex Papers Limited; and
• b) Simplex Mills Company Limited
• (ii) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and
• (iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated Net Profit and consolidated Total Comprehensive Income and other financial information of the Company and its associates for the year ended 31^st 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 paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company and its associates in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended 31^st March, 2022 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 ICAI's Code of Ethics. We believe that the audit evidence obtained by us and the

Firm Regn. No. W100084 Mumbai

audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.

Management's Responsibilities for Consolidated Financial Results

This Statement, which includes the Consolidated Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended 31^st March, 2022, has been compiled from the related audited interim consolidated financial information. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended 31^st March, 2022 that give a true and fair view of the consolidated net profit and consolidated other comprehensive income and other financial information of the Company including its associates in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and its associates 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 the 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 respective financial results that give a true and fair view and are free from material misstatement. whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Company, as aforesaid.

In preparing the Consolidated Financial Results, the respective Board of Directors of the Company and of its associates are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the Company and of its associates are responsible for overseeing the financial reporting process of the Company and of its associates.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial 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 this Consolidated Financial Results.

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

• Identify and assess the risks of material misstatement of the Annual Consolidated Financial Results, 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.
• Obtain an understanding of internal control relevant to the audit in order to design audit $\bullet$ procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.
• 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 ability of the Company and its associates to continue as a going concern. 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 Consolidated 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 and its associates to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.
• Obtain sufficient appropriate audit evidence regarding the Annual Financial Results/ Financial $\bullet$ Information of the, entities within the Company and its associates and to express an opinion on the Annual Consolidated Financial Results. For entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

Materiality is the magnitude of misstatements in the Annual Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Consolidated Financial Results may be influenced.

We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements al and M in the Annual Consolidated Financial Results.

We communicate with those charged with governance of the Company 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

We did not audit the financial statements of two associates included in the consolidated quarterly financial results and consolidated year to date results. The consolidated financial statements include a Group's Share of net profit of Rs. 34.32 Lakhs in the Total Comprehensive Income of Rs.195.41 Lakhs for the year ended 31^st March 2022 and Rs. 26.37 Lakhs in the Total Comprehensive Income of Rs. 32.35 Lakhs for the quarter ended 31^st March 2022. These financial statements and other financial information have been audited by other auditors whose reports have been furnished to us, and our opinion on the quarterly financial results and the year-to-date results, to the extent they have been derived from such financial statements is based solely on the reports of such other auditors.

Our opinion on the Statement is not modified in respect of the above matter.

Place: Mumbai Date: 25th May, 2022 UDIN: 22101388AJOLNR8401

SIMPLEX REALTY LIMITED 30, KESHAVRAO KHADYE MARG, SANT GADGE MAHARAJ CHOWK, MUMBAI- 400 011.

	STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2022					(そin Lakhs)
			Quarter ended		Year ended
	Sr. No. Particulars	31.03.2022	31.12.2021	31.03.2021	31.03.2022	31.03.2021
		Audited	Unaudited	Audited	Audited	Audited
1	Revenue from operations	20.84	21.90	16.55	198.49	415.60
$\overline{2}$	Other income	152.89	140.98	145.04	576.53	508.55
3	Total income (1+2)	173.73	162.88	161.59	775.02	924.15
4	Expenses
	a) Cost of development/sales			(0.22)	102.36	442.14
	b) Employee benefits expense	68.51	71.13	71.62	271.28	270.19
	c) Finance costs	1.80	2.16	3.97	9.80	20.63
	d) Depreciation	4.05	4.17	3.38	16.35	12.35
	e) Other expenses	44.31	51.69	40.48	165.65	138.03
	Total expenses	118.67	129.15	119.23	565.44	883.34
5	Profit before share of profit/(loss) of associates, exceptional items and tax (3-4)	55.06	33.73	42.36	209.58	40.81
6	Share of profit/(loss) of associates	26.37	(1.03)	5.27	34.32	8.83
$\overline{7}$	Profit before exceptional items and tax (5+6)	81.43	32.70	47.63	243.90	49.64
8	Exceptional items
9	Profit before tax (7-8)	81.43	32.70	47.63	243.90	49.64
10	Tax expenses :
	Current tax	14.98	5.17	7.01	29.31	7.01
	Deferred tax liability/ (asset)	12.06	2.52	(14.57)	34.55	(12.72)
	Earlier year taxes	2.77		0.02	2.77	0.02
11	Profit for the period (9-10)	51.62	25.01	55.17	177.27	55.33
12	Other Comprehensive Income/(Expense) - (OCI) -(net of tax)
	a) Items that will not be reclassified to profit or loss	(14.36)	(1.80)	36.24	10.54	54.43
	b) Items that may be reclassified to profit or loss	(4.91)	1.11	(2.04)	7.60	44.23
	Total Other Comprehensive Income/(Expense)	(19.27)	(0.69)	34.20	18.14	98.66
13	Total Comprehensive Income/(Expense) for the period (11+12)	32.35	24.32	89.37	195.41	153.99
14	Paid-up equity share capital (face value of ₹10/- each)	299.14	299.14	299.14	299.14	299.14
15	Other equity excluding Revaluation reserves				10,674.42	10,479.01
16	Basic & Diluted earnings per share (face value of ₹10/- each) Not annualised, except year end basic and diluted EPS	1.73	0.84	1.84	5.93	1.85

Notes : -

The above results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 25th May, 2022. $1.$

The Board of Directors have recommended a dividend of ₹1 per equity share (Face value of ₹10/- each) for the year ended 31st March, 2022 subject to approval of members at $2.$ the Annual General Meeting

The financial results are in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with rules made $3.$ thereunder and other recognised accounting practices and policies to the extent applicable.

As per the provisions of the Companies Act 2013, financial statements of associates of the Company needs to be consolidated and hence equity method of accounting as per Ind $4.$ AS 28 "Investments in Associates and Joint Ventures " has been followed in presenting consolidated financial statements.

Standalone information 5.

	Quarter ended			Year ended
Particulars	31.03.2022	31.12.2021	31.03.2021	31.03.2022	31.03.2021
	Audited	Unaudited	Audited	Audited	Audited
Total income (including other income)	277.59	162.88	161.59	878.88	924.15
Profit/(Loss) before tax	158.92	33.73	42.36	313.44	40.81
Profit/(Loss) after tax	129.11	26.04	49.90	246.81	46.50

The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the $6 \overline{6}$ respective financial year.

The Group and its associates, as at the date of approval of these financial results have considered internal and external sources of information, in assessing the possible effects that $7.$ may result from the global health pandemic relating to COVID-19 on the carrying amounts of loans, investments, receivables, inventories and other assets. As on the date of approval of these financial results, the Group has concluded that the impact of COVID - 19 is not material based on these estimates and expects to recover the carrying amount of these assets. Due to the nature of the pandemic, the Group will continue to monitor any changes to the future economic conditions.

The statutory auditors have expressed an unqualified audit opinion on the audited consolidated financial results for the quarter and year ended 31st March, 2022. 8

1. The Company has only one business segment viz real estate development, disclosure under Ind AS 108 on "Operating Segments" is not applicable.

2. Figures of the previous period/ year have been regrouped wherever necessary to conform to the current period/ year presentation.

Place: Mumbai, Dated: 25th May, 2022

Simplex Realty Limited

Nandan Damani Chairman & Managing Director

CIN-L17110MH1912PLC000351

30, Keshavrao Khadye Marg, Sant Gadge Maharaj Chowk, Mahalaxmi (E), Mumbai - 400011 $T: +91 22 2308 2951 \mid F: +91 22 23072773 \mid E:$ investors@simplex-group.com | W: www.simplex-group.com

AUDITED CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS ON 31ST MARCH, 2022

Year ended 31.03.2022 158.87 11.39 741.32	Year ended 31.03.2021 176.96
	706.99
1,163.43	1,670.07
6.04	2.58
15.91	15.84
390.00	427.80
103.22	174.17
2,590.18	3,174.41
3,356.68	3,163.53
640.44	661.28
318.21	24.89
5.62	9.36
3,397.82	2,958.35
91.45	302.24
	840.74
	7,960.39
	11,134.80
	299.37
	10,479.01
	10,778.38
$\blacksquare$	65.21
	17.60
	18.23 0.43
	101.47
	50.01
	15.49
	124.88
	5.51
	59.06
	254.95
	356.42
	11,134.80
	856.72 8,666.94 11,257.12 299.37 10,674.42 10,973.79 19.62 19.62 35.36 13.99 145.64 6.69 62.03 263.71 283.33 11,257.12

CIN-L17110MH1912PLC000351

SIMPLEX REALTY LIMITED

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022

		2021-22 ₹	(そin Lakhs) 2020-21 ₹
A. CASH FLOW FROM OPERATING ACTIVITIES : PROFIT BEFORE TAX		243.90	49.64
Adjustments for: Depreciation on property, plant and equipment Interest expenses		16.35 9.80	12.35 20.63
Profit on sale of investments (net)		(1.76)	(25.35)
Dividend income Interest income		(16.43) (519.67)	(16.39) (421.08)
Profit on sale of fixed assets		(6.48)	(19.93)
Sundry balances written off / (back) - (net) Share of (profit) / loss of associate		(4.49) (34.32)	(8.83)
Changes in fair value of financial assets at fair value through profit or loss		0.62	3.31
Unwinding of discount on security deposit Sundry assets written off		(1.74) 0.02	(1.74) $\omega$
OPERATING LOSS BEFORE EXCEPTIONAL ITEM AND WORKING CAPITAL CHANGES Adjustment for changes in working capital Adjustment for (increase) / decrease in operating assets:		(314.20)	(407.39)
Inventories		(193.14)	350.61
Other financial assets Other current assets		5.69 (15.98)	306.41 0.64
Other bank balances		3.75	1.65
Adjustment for increase / (decrease) in operating liabilities: Other financial liabilities		5.76	(17.36)
Trade payables		(1.50)	0.71
Long-term provisions Short-term provisions		3.34 2.97	(1.12) 6.57
Other liabilities		2.48	(7.80) 232.92
CASH GENERATED FROM / (USED IN) OPERATIONS Direct taxes (paid) / refund received		(500.83) 37.63	(26.84)
NET CASH GENERATED FROM / (USED IN) OPERATING ACTIVITIES	(A)	(463.20)	206.08
B. CASH FLOW FROM INVESTING ACTIVITIES :
Purchase of fixed assets Sale of fixed assets		(12.10) 8.90	(51.43) 21.00
Purchase of investments		(122.00)	(1,848.66)
Sale of investments Dividend received		668.18 16.43	2,176.61 16.39
Interest received		722.18	311.43
Loans / Inter corporate deposits refund / (given) - net NET CASH (USED IN) / GENERATED FROM INVESTING ACTIVITIES	(B)	(437.29) 844.30	(720.15) (94.81)
C. CASH FLOW FROM FINANCING ACTIVITIES : Proceeds from / (repayment) of borrowings (net)		(79.87)	(89.21)
Interest paid		(7.91)	(18.92)
NET CASH (USED IN) FINANCING ACTIVITIES NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS	(C) $(A+B+C)$	(87.78) 293.32	(108.13) 3.14
CASH AND CASH EQUIVALENTS - AT THE START OF THE YEAR		24.89	21.75
CASH AND CASH EQUIVALENTS - AT THE END OF THE YEAR		318.21	24.89
Cash and cash equivalents comprise of :		As on 31.03.22	As on 31.03.21
Balances with Banks: - in Current accounts		318.16	24.76
Cash on hand		0.05 318.21	0.13 24.89
Cash and cash equivalents

CIN-L17110MH1912PLC000351

30, Keshavrao Khadye Marg, Sant Gadge Maharaj Chowk, Mahalaxmi (E), Mumbai -- 400011
T: +91 22 2308 2951 | F: +91 22 23072773 | E: investors@simplex-group.com | W: www.simplex-group.com

25^th May, 2022

Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001

Dear Sir/Madam,

Ref: BSE Security Code 503229

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

In terms of the provisions of Regulation 33(3)(d) of the SEBI Listing Regulations, as amended by SEBI Notification No. SEBI/LAD-NRO/GN/2016-17/001 dated 25^thMay, 2016 read with SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27^thMay, 2016, we hereby declare and confirm that the Statutory Auditor of the Company, M/s. Khandelwal & Mehta LLP, Chartered Accountants, Mumbai (ICAI Firm Registration No. W100084) has issued an Audit Report with unmodified opinion on the Annual Audited Financial Results of the Company for the quarter and year ended 31^st March, 2022.

Kindly take the same on your record.

Thanking you,

Yours faithfully, For Simplex Realty Limited

Suando Kalo

Surendra Kabra Chief Financial Officer

Annexure-2

INTIMATION OF BOOK CLOSURE

Name of Company: Simplex Realty Limited
Security	Type of Security &	Book Closure Dates	Purpose
Code	Paid-up value
503229	Equity Shares of 10/-	28th Thursday, July,	109th Annual
	each fully paid-up	2022 to	General Meeting of
		3rd Wednesday,	the Company to be
		August, 2022 (Both	held on 3rd August,
		days inclusive)	2022 and payment
			of dividend, subject
			to members
			approval at the
			ensuing AGM.

Annexure-3

Details under Regulation 30 of SEBI (LODR) Regulations, 2015 read along with SEBI Circular ClR/CFD/CMD/4/2015 dated September 9, 2015.

Sr. No.	Particulars	Description
2.	Reason for change	Appointment
3.	Date of appointment	25th May, 2022
4.	Brief Profile	Mr. Praveen Kumar is representative of Life Insurance
		Corporation of India (LIC). He has a rich and varied work
		experience of over 36 years in the Corporation. He has the
		distinction of having worked in all the four Offices of the
		Corporation – Branches, Divisions, Zones and Central Office,
		i.e. from the grass root operational level to the highest policy
		formulation level. His multifaceted work experience stood in
		great stead when during 2002-03, as head of Kanpur
		Division, he steered the Division to become one of the top
		business performers of the Corporation. Besides Kanpur
		Division, he has also headed one of the Divisions of Mumbai.
		Having done his Masters in Chemistry, his hobbies include
		visiting historical places as well as exploring newer travel
		Destinations.
4.	Disclosure of relationship between Directors	Not related to any other Directors of the Company