Vakrangee Limited — Interim / Quarterly Report 2022

Jul 26, 2021

Road No. 16, M LD.C. Maral, Andheri (East). Mumbai 400093. M harashtra W www.vkangee.ln l l: "'91 22 2850 34 12/ +9 1 226776 5100mrm~ F +9 12228 0201 7 i ( I • L65990MH1990PLC056669

July 26, 2021

To,

Department of Corporate Relationship	Corporate Relationship Department
BSE Ltd.	National Stock Exchange of India Ltd.
Phiroze Jeejeebhoy Towers,	Exchange Plaza, Bandra Kurla Complex,
Dalal Street, Fort,	Bandra (East), Mumbai - 400051
Mumbai - 400001

Dear Sir IMadam,

Sub.: Un-audited (Standalone & Consolidated) Financial Results for the first quarter ended June 30, 2021 recommendation of Dividend. Ref.: Scrip Code - 511431IVAKRANGEE

Pursuant to Regulation 30 read Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors at its meeting held today i.e. Monday, July 26, 2021, inter alia, discussedltransacted the following businesses:

1. Considered and approved Un-audited (Standalone & Consolidated) Financial Results for the first quarter ended June 30, 2021.

We enclose copy of Un-audited Financial Results for the first quarter ended June 30, 2021 along with Limited Review Report dated July 26, 2021 of Mis. A. P. Sanzgiri & Co, Chartered Accountants, statutory auditors of the company in respect of the said results.

• 1. Company would focus on key growth initiatives of Strategy 2.0 scaling to 75,000 kendras as well as Digital strategy for enabling 020 platform through Bharat Easy Mobile Super App. Therefore, the Board was of the view that the company has strong growth avenues in place and therefore it's in best interest of its shareholders that the maximum amount of free cash flows is re-invested in the business for future growth and hence, recommended final dividend of Rs. 0.101 - (10%) per equity shares of Re. 1I-each for the financial year ended March 31, 2021, subject to the members' approval at the ensuing Annual General Meeting.
• 1. Empanelling Global consultants to understand the Online market landscape and evaluate the opportunity size for BharatEasy Super App and to strategize the best ways to unlock value for all the stakeholders.

Vakrangee Limited "Vakrangee Corporate House", Plot No. 93, Vakrangee Road No. 16, M. I.D C. Marol, Andheri (East), Mumbai 400093, Maharashtra W wwwvakrangeein 1 L +912228503412 / +912267765100 crmm~ F +9 1 22285020171 CIN . L65990MH 1990PLC056669

The Board Meeting commenced at 3.00 P.M. and concluded at 4.25 P.M.

Please take the above on your records.

Thanking you,

Yours faithfully,

For Vakrangee Limited 6d rY'E>~~ Jay Bhansali Company Secretary (Mem. No.: A48251)

VAKRANGEE LIMITED

Vakrangee VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16, M.!.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA CIN: L65990MH1990PLC056669 PHONE: 02267765100/28503412

E-mail: info@vakrangee.in Website: www.vakrangee.in

(t In Lakhs)

	STATEMENT OF UN-AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30. 2021
S.No.	Particulars	For the quarter ended			For the yearended
		30-Jun·21	31-Mar·21	30-Jun-20	31-Mar-21
		.1Un-audlte~	.1Audite~	JUn-audlte~	.1Audlted)
		(1)	(2)	(3)	(4)
1	Income
	Revenue from operations	13.107.08	7.949.84	4,447.63	22.743.67
	Other Income	102.07	1.722.08	1.670.50	6.815.25
	Total Income	13209.15	9,671 .92	6,118.13	29558.92
2	Expenses
	Purchase of stock in trade and other operating expenditure	9,237.43	5,290.13	2.237.15	15.145.97
	Changes in inventories of stock-in-trade	33.43	232.55	95.72	281 .13
	Employee benefits expense	677.94	305.66	1.703.44	3.347.33
	Finance costs
	Depreciation and amortisation expenseImpairment Loss	353.47	210.08	386.95	1,478.35
	Other expenses
		273.77	1,289.11	404.34	2,567.55
	Total expenses
		10,576.04	7327.53	4827.60	22820.33
3	Profit before tax & Exceptional Item (1-2)	2,633.11	2,344.39	1,290.53	6,738.59
4	Exceptional Item
5	Profit before tax (3+4)	2,633,11	2,344.39	1,290.53	6,738,59
6	Tax expense
	Current tax	618.34	516.15	376.48
	Deferred tax	(2.65)	57.08	(6.64)	1,481.87
	Total tax expenses	615.69			120.60
			573.23	369.84	1,602,47
7	Profit for the period / year (5-6)	2,017.42	1,771.16	920.69	5,136.12
8	Other comprehensive income (OCI) I (expenses)
	Items that will not be reclassified to profrt or 1088
	Remeasurement of net defined benefit obligations (net of taxes)	(14.59)	24.45	(0.16)	89.24
	Total other comprehensive income I (expenses) for the period/year	(14.59)	24.45	(0.16)	89.24
9	Total comprehAnslve Income for the period I year (7+8)	2.002 .83	1,795.61	920.53	5.225.36
	10 Paid up equity share capital (face value~ 11 each)	10,594.06	10.594.06	10,594.06	10,594.06
11	Reserves excluding revaluation reserves as per balance sheet ofprevious accounting year				2,52,394.70
	12 Earnings per share (EPS) In t (not annuallsed)
	(a) Basic	0.19	0.16	0,09	0,49
	(b) Diluted	0.19	0.16	0.09	0.49

Vakrangee Limited

Notes to the Un-audited standalone financial results for the quarter ended June 30, 2021:

• The above un-audited standalone financial results for the quarter ended June 30, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on July 26, 2021 . The statutory auditors of the Company, A.P.Sanzgiri & Co., Chartered Accountants, have reviewed the above standalone financial results for the quarter ended June 30, 2021.
• 2 These results have been prepared on the basis of un-audited standalone financial statements, which are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 and notified by the Ministry of Corporate Affairs under the Companies (Indian Accounting Standards) Rules, 2015 (as amended).
• 3 The Board of Directors of the Company recommended dividend of ~ 0.10 per share on fully paid up equity share of ~ 1/- each for the financial year ended March 31,2021, subject to members approval in the ensuing Annual General Meeting.
• 4 During the quarter ended June 30, 2021, the Company has granted Nil options under Company's "ESOP Scheme 2014", to its eligible employees.
• 5 The Company's activities predominently comprise providing various services through Vakrangee Kendra. Considering the nature of the Company's business and operations, there is only one reportable operating segment i.e. Vakrangee Kendra.
• 6 The figures of the previous year / period have been regrouped I rearranged / recast to render the comparable with the figures of the current period.
• 7 The above results of the Company are available on the Company's website www.vakrangee.in and also on www.bseindia.com and www.nseindia.com.

Place : Mumbai Date : July 26, 2021

Managing Director & Group CEO DIN: 00062532

Tel : +91·22-2669 1232 A . P. SANZGIRI & Co. Fax: +91-22-26691233 Email : contact@ca-aps.com CHARTERED ACCOUNTANTS

Plot No. 22. House No. 174. Anand Nagar Lane. Behind Vakola Police Station. Santacruz (East) . Mumbai - 400 055. India

Independent Auditor's Limited Review Report Unaudited Standalone Financial Results of the Vakrangee Limited for the Quarter ended June 30, 2021 pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, as amended

The Board of Directors, Vakrangee Limited

• I. We have reviewed the accompanying statement of unaudited standalone financial results of Vakrangee Limited (the "Company") for the quarter ended June 30, 2021 ("the Statement") attached herewith, being prepared and submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"), read with SEBI Circular No. CIRlCFD/CMD 1/80/20 19 dated July 19,2019 ("the Circular").
• 1. This Statement, which is the responsibility of the Company's Management and has been approved by the Company 's Board of Directors at their meeting held on July 26, 2021 , has been prepared in accordance with the recognition and measurement principal 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. 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 Engagement (SRE) 2410 " Review of Interim Financial I n formation Performed by the I ndependent Auditor of the Entity ' issued by Institute ofCharrered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to vvhether the Statement is free of material misstatement. 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.
• 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, 20 13 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For A. P. Sanzgiri & Co. Chartered Accountants FRN: 116293W

Membership No: 041396 UDIN: 21041396AAAABR3280

Date: July 26, 2021 Ani! Agrawal Place: Mumbai Partner

VAKRANGEE LIMITED

VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16, Vakrangee M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA CIN : L65990MH1990PLC056669 ~PHONE: 02267765100/28503412

E-mail: info@vakrangee.in Website: www.vakrangee.in

(~In lakhs)STATEMENT OF UN·AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021
		For the quarter ended	For the yearended
S.No.	Particulars	30.Jun·21	31.,\o1ar·21		31·Mar·21
		(Un udltedl	IAudlled	30.Jun·20Unaudltedl	Audited
		(1)	(2)	(3)	(4)
1	Income
	Revenue from operations	15,402.10	10.184.97	6.785.08	31,42914
	Other Income	141 .63	1.764.61	1.709.06	6.96599
	Total Income	15543.73	11 949.58	8494.14	38395.13
2	Expenses
	Purchase of stock in trade and other operating expenditure	11.102.46	7.111.06	4.235.27	22.211 .96
	Changes in Inventories of stock·in·trade	33.44	232.55	95.72	281.13
	Employee benefits expense	710.30	345.48	1.703.44	3,441.90
	Finance cos Is
	Depreciation and amortisation expense	353.52	210.58	387.58	1.48051
	Impainnent loss
	Other expenses	289.76	1.294.17	419.12	2.697.82
	Total Expenses	12489.48	9193.84	6841 .13	30113.32
	3 Profit before tax & Exceptional item (1-2)	3,OS4.25	2,755.74	1,653.01	8,281.81
	4 Exceptional Item
	5 Profit before tax (3+4)	3,054.25	2,75S.74	1,653.01	8,281.81
	6 Tax expenseCurrent tax	724.13	619.58	470.39	1.882.34
	Deferred tax	(263)	57.02	(6.73)	120.34
	Total tax expenses	721 .S0	676.60	463.66	2,002.68
	7 Profit for the period I year (S-6)	2,332.75	2,079.14	1,189.35	6,279.13
	8 Other comprehensive income I (expenses)
	Items that will be reclassified to profit or loss
	ExChange difference on translation of foreign operations	11 .14	(22.45)	5.38	(0.74)
	Items that will not be reclassified to profit or loss
	Remeasurement of net defined benefit obligations (net of taxes)	(14 .59)	24 .45	(0.16)	89.24
	Total other comprehensive income I (expenses) for the period Iyear	(3.45)	2.00	5.22	88.S0
9	Total Comprehensive Income for the Period I Year (7+8)	2,329.30	2,081 .14	1,194.S7	6,367.63
	10 Paid up equily share capital (face value ~ 1/- each)	10.59406	10.594.06	10.594.06	10.594.06
	11 Reserves excluding revaluation reserves as per balance sheet ofprevious accounting year				2.55.813.98
	12 Earnings per Share (EPS) in t (not annualised)
	(a) Basic	0.22	0.20	0.11	0.59
	(b) Diluled	0.22	0.20	0.11	0.59

Vakrangee Limited

Notes to the Un-audited consolidated financial results for the quarter ended June 30, 2021 :

• The above un-audited consolidated financial results for the quarter ended June 30, 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on July 26, 2021 . The statutory auditors of the Company, A.P.Sanzgiri & Co., Chartered Accountants, have reviewed the above consolidated financial results for the quarter ended June 30, 2021.
• 2 These results have been prepared on the basis of un-audited consolidated financial statements, which are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013 and notified by the Ministry of Corporate Affairs under the Companies (Indian Accounting Standards) Rules, 2015 (as amended).
• 3 The un-audited consolidated financial resu~s include the financial results of the Company and its four wholly owned subsidiaries: Vakrangee Finserve Limited, Vakrangee Logistics Private Limited, Vakrangee Digital Ventures Limited and Vakrangee e-Solutions Inc. (together referred to as 'Group').
• 4 The Board of Directors of the Company recommended dividend of '{ 0.10 per share on fully paid up equity share of '{ 1/- each for the financial year ended March 31,2021, subject to members approval in the ensuing Annual General Meeting.
• 5 During the quarter ended June 30, 2021, the Company has granted Nil options under Company's "ESOP Scheme 2014", to its eligible employees.
• 6 The Company's activities predominently comprise providing various services through Vakrangee Kendra. Considering the nature of the Company's business and operations, there is only one reportable operating segment i.e. Vakrangee Kendra.
• 7 The figures of the previous year / period have been regrouped / rearranged / recast to render the comparable with the figures of the current period.
• 8 The above results of the Company are available on the Company's website www.vakrangee.in and also on www.bseindia.com and www.nseindia.com.

Place : Mumbai

..

Date : July 26, 2021 Dinesh Nandwana Managing Director & Group CEO DIN : 00062532

Plot No, 2]. House No, 174. Anand Behind Vakola Police Station. Santacruz Mumbai 400055. India

Independent Auditor's Limited Review Report Unaudited Consolidated Financial Results of the Vakrangee Limited for the Quarter ended 30, 2021 pursuant to the Regulation 33 of the SEBI (Listing Obligations Disclosure Requirements) Regulation, 2015, as amended

Review Report to, The Board of Directors, Vakrangee Limited

• L We have reviewed the accompanying Statement of unaudited consolidated financial of VAKRANGEE LIMITED ("the Parent") and its subsidiaries (the Parent its subsidiaries TA",,,,n'l."''' referred to as ("the Group"), for the quarter ended 30, 2021 (the "Statement") attached herewith, being submitted by Parent pursuant to the requirements of Regulation of the (Listing Obligations Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), read with SEBI Circular CIRlCFD/CMD1144/201 9 March 29, 2019 Circular").
• This is the responsibility ofthe Parent's Management and approved by the Board of at their held on July 26, 2021, has prepared in accordance with recognition and measurement principles laid down in Accounting Standard 34, AS 34) Financial Reporting" under Section 1 of the 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to a conclusion on the Statement based on our review.
• 1. conducted our of the Statement accordance with the Standard on Review Engagement (SRE) 2410, "Review Interim Financial Information Performed by Independent Auditor of the Entity", issued Institute Chartered of India. This standard that we plan and perform the review to obtain moderate assurance as to whether the statement is of material misstatement. A review of interim financial information consists of making inquiries, primarily persons responsible for financial and accounting matters, and applying and other procedures. review is substantially less scope an audit conducted in accordance with on and consequently does not enable us to obtain assurance that we would become aware all significant matters that might be identified in an Accordingly, we do not an audit opinion.

We also performed procedures in accordance the Circular No. CIRlCFD/CMD1I44/2019 dated March 29, 2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable.

4. Statement includes the results of the following wholly Subsidiaries.

• );> Vakrangee Finserve Limited
• );> E-Solution Inc. (Philippines)
• );> Vakrangee Logistics Private
• );> Vakrangee Digital Limited

1. We did not review the interim financial results and other financial information in respect of 3 subsidiaries included in unaudited consolidated financial results, whose interim financial resultslinformation reflect total revenue of Rs 2422.69 lacs, total net profit after tax of Rs. 315.34, total comprehensive income of Rs.3l7.96 Lacs for the quarter ended June 30, 2021, as considered in the consolidated unaudited financial results. These interim financial results have been reviewed by other auditors, whose reports have been furnished to us by the Parent Management. Our conclusion, in so far as it relates to the affairs of such subsidiaries, is based solely on the reports of other auditors and procedures performed by us as stated in paragraph 3 above.

One of the Subsidiary is located outside India whose interim financial results has been prepared in accordance with the accounting principal generally accepted in such country and which has been reviewed by the other auditor under generally accepted auditing standards applicable in that country. The Parent's management has converted this financial result of such subsidiary located outside India from accounting principle generally accepted in that country to accounting principle generally accepted in India. Our conclusion in so far as it relates to the balances and affairs of such subsidiary located outside India is based on the reports of other auditor and conversion adjustment prepared by the management of the Company and reviewed by another chartered accountant whose report has been furnished to us on which we placed reliance.

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

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 5 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standard ('lnd AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Listing Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For A. P. Sanzgiri & Co. Chartered Accountants Firm Registration Number 116293W

Mem bership No: 041396 UDIN: 21041396AAAABS3526

Date: July 26, 2021 Anil Agrawal Place: Mum bai Partner