Simplex Realty Limited — Interim / Quarterly Report 2020

Jul 30, 2020

30th July, 2020

Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400 001.

Dear Sir,

Ref : Security Code - 503229

Sub. : Un-audited Financial Results for the quarter ended 30th June, 2020

Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) . Regulations, 2015, we are submitting herewith, in the prescribed format, the Un-audited Financial Results (standalone and consolidated) along with Limited Review Report for the quarter ended 30th June, 2020.

The said results have been reviewed by the Audit Committee and taken on record and approved by the Board of Directors of the Company at its meeting held on 30th July, 2020.

The copies of the same are enclosed herewith for your record.

Thanking you,

Yours faithfully, For Simplex Realty Limited

~_: ~

Nandan Damani Managing Director

Encl.: as above

Khandelwal & Mehta LLP

Chartered Accountants (LLP No.AAE-3742)

Independent Auditor's Report on Quarterly Standalone Unaudited Financial Results of Simplex Realty Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To, The Board of Directors, Simplex Realty Limited Mumbai.

• 1. We have reviewed the accompanying statement of Standalone unaudited financial results of Simplex Realty Limited ("the Company") for the quarter ended 30th June, 2020, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Regulation") as amended, read with SEBI Circular No. CIRlCFD/CMDII44/2019 dated March 29,2019 ("the Circular").
• 1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular, is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. 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. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. ^A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and 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 the aforesaid Indian Accounting Standards ("Ind AS") specified under Section 133 of the Companies Act 2013 as amended, read with relevant rules issued thereunder and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Khandelwal & Mehta LLP Chartered Accountants (Firm Regn.no.w1 00084)

SUNIL ^r Digitally signed by SUNIL .:LAKHMICHAND LAKHMICHAND\KHANDELWAL KHANDELW'. ^A Li ·,0"t';:.2020,07.30 ('/ 16:21:19 +05'30'

S.L Khandelwal (Partner) Mem.No.101388

Place: Mumbai Date: 30t^h July, 2020.

Office nos.6 & 7, 1st Floor, Kamanwala Chambers, Sir P.M. Road, Fort, Mumbai - 400001 • e-mail: contact.knmllp@gmail.com Partners: S.L. Khandelwal - 098212 45353 • J.D. Lalwani - 070457 45727 (fSTIN : 27AAPFK6261N1ZL

SIMPLEX REALTY LIMITED

• UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2020 30 KESHAVRAO KHADYE MARG SANT GADGE MAHARAJ CHOWK MUMBAI 400 011

	Lakhs (~in Year ended
			Quarter ended
Sr.No.	Partlculal8	30.06.2020	31.03.2020	30.06.2019	31.03.2020
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
1	Revenue from operations	19.33	332.22	18.43	909.23
2	Other income	112.17	121.94	120.58	473.51
3	Total revenue (1+2)	131.50	454.16	139.01	1 382.74
4	Expenses:
	a) Cost of development/sales	-	324.75	-	837.40
	b) Employee benefits expense	66.28	71.17	67.03	258.44
	c) Finance costs	6.24	6.46	9.65	35.75
	d) Depreciation	2.92	4.63	4.34	18.20
	e) Other expenses	26.12	39.18	61.71	173.08
	Total expenses	101.56	.f46.79	142.73	1322.87
5	before exceptionaillems and tax (3-4) PronU(Loss)	29.94 -	7.37	(3.72)	59.87
6	Exceptional items before tax (5-6)		-	-
7	PronU(Loss)	29.94	7.37	(3.72)	59.87
8	Tax expenses:		0.03
	Current tax Deferred tax liability/(asset)	6.52 (1.06)	(0.87)	0.15 29.16	13.05
	Taxes of earlier years	-			42.11 (0.66\
9	PronU(Loss) for the period (7-8)	24.48	- 8.21	(33.03)	5.37
10	Other Comprehensive IncomeJ(Expense) • (OCI)-(net of tax)
	a) Items that will not be reclassified to profit or loss	32.28	(40.17)	(42.56)	(98.40)
	b) Items that may be reclassified to profit or loss	(0.22	(6.44\		(8.64
	Other Comprehensive IncomeJ(Expense)	32.06	(46.61	(42.56)	(10704
11	Total Comprehensive IncomeJ(Expense) for the period (9+10)	56.54	(38.40	(75.59)	(101.67
12	Paid up Equity Share Capital (face value of ~ 10/- each)	299.14	299.14	299.14	299.14
13	Other EG~ity excluding Revaluation Reserve	-	-	-	10,716.36
14	Basic & Diluted earnina Der share (face value of ~ 10/· each)·	0.82	0.27	(1.10\	0.18
	"Not annuahsed, except year end BaSICand Diluted EPS

Notes:· .

1 The unaudited standalone financial results lor the quarter ended 30th June, 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at lheir meeting held on 30th July, 2020 in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These results have been prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015.

2 The Statutory Auditors have carried out ·Limited Review· of the financial results for the quarter ended 30th June, 2020.

3 The Company has only one reportable segment ~iz."Property Developmenr, disclosure under Ind AS 108 on "Operating Segments" is not applicable.

4 Tile Company, as at the date approval of these financial results has considered internal and external sources of information, in assessing the possible effects that may result from the global health pandemic relating to COVID-19 on the carrying amounts of loans, inve:;tments, ir.ventories and other assets. As on the date 01 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. The impact of the global health pandemic may be different from that estimated as at the date of approval of these financial results,the Company will continue to monitor any changes to the future economic conditions,

5 Figures of the previous periods have been regrouped, wherever necessary, to confirm to the current quarter's presentation.

Place: Mumbal, Dated: 30th July, 2020

0::

~ Chalnnan & Managing Director

Khandelwal & Mehta LLP

Chartered Accountants (LLP No.AAE •.3742)

Independent Auditor's Report on Quarterly Consolidated Unaudited Financial Results of Simplex Realty Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To, The Board of Directors, Simplex Realty Limited Mumbai.

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Simplex Realty Limited ("the Parent') and its Associates, (the Parent and its Associates together referred to as "the Group"), for the quarter and half year ended 30th June, 2020 ("the Statement "), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Circular No. CIRlCFD/CMDII44/2019 dated March 29,2019 ("the Circular").
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "lnterim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. 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 Standards on Auditing 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 circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Consolidated Unaudited Financial Results in the Statement includes the results of Simplex Realty Limited ("the parent") and Simplex Mills Company Limited and Simplex Papers Company Limited ("the Associates").
• 1. Based on our review conducted 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 the aforesaid Indian Accounting Standards ("Ind AS") specified under Section 133 of the Companies Act 2013 as amended, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review financial results of Simplex Mills Company Limited and Simplex Papers Company limited included in the unaudited Consolidated financial result. The unaudited consolidated results also include Group's share of profit after tax and Total Comprehensive income of Rs 2.06lakhs and Rs 58.60 lakhs for the quarter 30.06.2020 respectively, as considered in the statement, in respect of the associates, whose interim financial information have not been reviewed by us. The financial results of these entities has been reviewed by the other auditors whose reports have been furnished to us by management, and our conclusion in so far as it relates to the amounts and disclosures included in respect of

Office nos.6 & 7, 1st Floor, Kamanwala Chambers, Sir P.M. Road, Fort, Mumbai - 400001 • e-mail: contact.knmlip@gmail.com Partners: S.L. Khandelwal- 098212 45353 • J.D. Lalwani - 070457 45727 GSTIN : 27AAPFK6261N1ZL

Simplex Mills Company Limited and Simplex Papers Company Limited, is based solely on the report of other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of this matter.

For Khandelwal & Mehta LLP

Chartered Accountants (Firm Regn.no.w100084) 5 UN IL C Digitally signed by " SUNIL LAKHMICHAN\LAKHMICHAND /f ~I, D 1".K,·~~~g~LwAL KHANDE^I WA·· L Date: 2020.07.30 tJ· 16:22:39 +05'30' Sunil Khandelwal (Partner) Mem. No. 101388

Place: Mumbai Date : 30th July, 2020.

30 KESHAVRAO KHADYE MARG SANT GADGE MAHARAJ CHOWK MUMBAI- 400 011 UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2020

Lakhs (~in
		Quarter ended			Year ended
Sr.No.	Particulars	30.06.2020	31.03.2020	30.06.2019	31.03.2020
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
1	Revenue from operations	19.33	332.22 121.94	18.43	909.23
2	Other income Total revenue (1+2)	112.17	454.16	120.58 139.01	473.51
3 4	Expenses:	131.50			1 382.74
	a) Cost of development/sales	-	324.75	-	837.40
	b) Employee benefits expense	66.28	71.77	67.03	258.44
	c) Finance costs	6.24	6.46	9.65	35.75
	d) Depreciation	2.92	4.63	4.34	18.20
	e) Olher expenses	26.12	39.18	61.71	173.08
	Total expenses	101.56	446.79	142.73	1322.87
5	before share of profitl(loss) of associates, exceptionalitems and tax (3-4) Profitl(Loss)	29.94	7.37	(3.72)	59.87
6	Share of profit/(Ioss) of associates	2.06	5.74	17.38	28.24
7	before exceptional items and tax (5-6) Profitl(Loss)	32.00	13.11	13.66	88.11
8	Exceptional items before tax (7-8)	-	-	-	-
9	Profitl(Loss)	32.00	13.11	1366	88.11
10	Tax expenses: Current tax		0.03
		6.52 (1.06)	(0.87)	0.15	13.05 42.11
	Deferred tax liability/(asset) Taxes of earlier years	-	-	29.16	(0.66
11	Profitl(Loss) for the period (9-10)	26.54	13.95	- (15.65)	33.61
12	Other Comprehensive Incomel(Expense) - (OCI)-(net of tax)
	a) Items that will not be reclassified to profit or loss	32.28	(40.17)	(42.56)	(98.40)
	b) Items that may be reclassified to profit or loss	(0.22	(6.44'		(8.64
	Other Comprehensive Incomel(Expense)	32.06	(46.61)	(42.56	(107.04
13	Total Comprehensive Incomel(Expense) for the period (11-1+12)	58.60	132.66	(58.21	(73.43
14	Paid up Equity Share Capital (face value of ~ 10/- each)	299.14	299.14	299.14	299.14
15	Other Equity excluding Revaluation Reserve	-	-	-	10,325.02
16	Basic & Diluted earninq per share (face valve of f 10/- each)' 'Not annuallsed, except year end BaSIC and Diluted EPS	0.89	0.47	(0.52	1.12

Notes: •

1 The unaudited consolidated financial results for the quarter ended 30th June, 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 30th July, 2020 in terms of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These results have been prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015.

2 The Statutory Auditors have carried out 'Limited Review' of the financial results for the quarter ended 30th June, 2020.

3 Standalone information'

Particulars	Quarter ended			Year ended
	30.06.2020	31.03.2020	30.06.2019	31.03.2020
	(Unaudited)	(Audited)	(Unaudited)	_(Audited)
Total income (inciudinQ other income)	131.50	454.16	139.01	1 382.74
Profit/(ioss) before tax	29.94	7.37	(3.72)	59.87
Profit/(Ioss) alter tax	24.48	8.21	(33.03)	5.37

4 The Company has only one reportable segment viz.·Property Developmenr, disclosure under Ind AS 108 on "Operating Segments" is not applicable.

5 The Group and its associates, as at the date approval of these financial results have considered intemal and extemal sources of iilformation, in assessing the possible effects that 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. The impact of the global health pandemic may be different from that estimated as at the date of approval of these financial results, the Group will continue to monitor any changes to the future economic conditions.

6 Figures of the previous periods have been regrouped, wherever necessary, to confirm to the current qaarter's presentation.

Place: Mumbai, Dated: 30th July, 202.0

For SimplexRealty Limited

~~ NanZ--

Chainman & Managing Director

CIN-L171IOMHI912PLC00035I