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Vakrangee Limited Interim / Quarterly Report 2024

Nov 11, 2023

59251_rns_2023-11-11_2a0a84b9-d498-42d6-bfe6-dca655ee4549.pdf

Interim / Quarterly Report

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Vakrangee Limited “Vakrangee Corporate House”, Plot No.93, Road No.16, M.I.D.C. Marol, Andheri (East), Mumbai - 400093. Maharashtra, W: www.vakrangee.in | L:+91 22 6776 5100 CIN: L65990MH1990PLC056669``

==> picture [200 x 58] intentionally omitted <==

November 11, 2023

To,

Department of Corporate Relationship
BSE Ltd.
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort,
Mumbai - 400001		 Corporate Relationship Department
National Stock Exchange of India Ltd.
Exchange Plaza, C-1, Block G,
Bandra Kurla Complex,
Bandra(East),Mumbai - 400 051

Dear Sir/Madam,

Sub. : Outcome of Board Meeting Ref.: Scrip Code – 511431/VAKRANGEE

Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company at their meeting held on November 11, 2023 has approved the Un-audited (Standalone & Consolidated) Financial Results for the Second Quarter / Half year ended September 30, 2023.

We enclose copy of the Un-audited (Standalone & Consolidated) Financial Results for the Quarter/ Half Year ended September 30,2023 along with the Limited Review Report of M/s. S.K. Patodia & Associates, Chartered Accountants, statutory auditors of the Company in respect of the said Financial Results.

The Board Meeting commenced at 11.00 A.M and concluded at 12.15 P.M.

Kindly acknowledge its receipt.

Thanking you,

Yours faithfully,

For Vakrangee Limited

Sachin Tukaram Khandekar Digitally signed by Sachin Tukaram Khandekar DN: c=IN, o=Personal, postalCode=400081, l=Mumbai Suburban, st=Maharashtra, street=Flat No.1003, 5 B Wing, Destiny Paradise CHSL , Mumbai, Maharashtra India- 400081-, title=9332, 2.5.4.20=9b8c16b6d2ea4521ca3fc63913c039dabc80651029f00c28ea4ca75e666ec3c2, serialNumber=d0ee1a6f46e34aa2c42edac2de47e7873c65431b6bfe84a88768657f9458d264, [email protected], cn=Sachin Tukaram Khandekar Date: 2023.11.11 12:21:21 +05'30'

Sachin Khandekar Company Secretary (Mem. No.: A50577)

==> picture [111 x 56] intentionally omitted <==

VAKRANGEE LIMITED

VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16, M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA CIN : L65990MH1990PLC056669 PHONE : 022 6776 5100 E-mail : [email protected] Website : www.vakrangee.in

VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,		 VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,		 VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,		 VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,		 VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,		 VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,		 VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,		 VAKRANGEE LIMITED
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THEQUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2023
(₹ in Lakhs)
S.No. Particulars For the quarter ended For the half year ended For the year
ended
30-Sep-23 30-Jun-23 30-Sep-22 30-Sep-23 30-Sep-22 31-Mar-23
(Un-audited) (Un-audited) (Un-audited
Restated*)		 (Un-audited) (Un-audited
Restated*)		 (Audited)
(1) (2) (3) (4) (5) (4)
1
2
3
4
5
6
7
8
9
10
11
12		 Income
Revenue from operations
Other Income
Total Income
Expenses
Purchase of stock in trade and other operating expenditure
Changes in inventories of stock-in-trade
Employee benefits expense
Finance costs
Depreciation and amortisation expense
Other expenses
Total expenses
Profit before tax & Exceptional item (1-2)
Exceptional Item
Profit before tax (3+4)
Tax expense
Current tax
Deferred tax
Total tax expenses
Profit for the period / year (5-6)
Other comprehensive income (OCI) / (expenses)
Items that will not be reclassified to profit or loss
Remeasurement of net defined benefit obligations (net of taxes)
Total other comprehensive income / (expenses) for the
period / year
Total comprehensive income for the period / year (7+8)
Paid up equity share capital (face value ₹ 1/- each)
Other Equity excluding revaluation reserves
Earnings per share (EPS) in ₹ (not annualised)
(a) Basic
(b) Diluted		 4,447.58
73.10		 4,812.70
27.30		 4,067.12
9.96		 9,260.28
100.40		 7,971.12
17.87		 16,451.34
102.64
4,520.68 4,840.00 4,077.08 9,360.68 7,988.99 16,553.98
3,015.00
21.99
451.25
182.94
396.52
343.21		 3,234.57
19.06
447.99
199.40
394.72
434.41		 2,874.46
30.57
307.27
-
419.34
340.73		 6,249.57
41.05
899.24
382.34
791.24
777.62		 5,667.39
29.98
643.45
-
811.82
727.76		 11,679.16
189.20
1,369.68
151.53
1,551.36
1,385.50
4,410.91 4,730.15 3,972.36 9,141.06 7,880.40 16,326.43
109.77
11.26
121.03
25.90
31.03
56.93
64.10
-
-
64.10
10,595.13
0.01
0.01		 109.85
-
109.85
35.39
14.39
49.78
60.07
-
-
60.07
10,595.13
0.01
0.01		 104.72
-
104.72
24.21
20.57
44.78
59.94
44.96
44.96
104.90
10,595.00
0.01
0.01		 219.62
11.26
230.88
61.29
45.42
106.71
124.17
-
-
124.17
10,595.13
0.01
0.01		 108.60
-
108.60
48.76
22.46
71.22
37.38
43.23
43.23
80.61
10,595.00
0.01
0.01		 227.55
-
227.55
58.78
108.76
167.54
60.01
(51.44)
(51.44)
8.57
10,595.13
(2,982.89)
0.01
0.01

*** Refer Note No. 6**

Vakrangee Limited

Notes to the unaudited standalone financial results for the quarter and half year ended September 30, 2023:

  • 1 The above un-audited standalone financial results for the quarter and half year ended September 30, 2023 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 11, 2023. The statutory auditors of the Company have reviewed the above standalone financial results for the quarter and half year ended September 30, 2023.

  • 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 During the quarter ended September 30, 2023, the Company has not granted any options under Company's "ESOP Scheme 2014" to its eligible employees. 4 During the quarter ended September 30, 2023, the Company in its 33rd Annual General Meeting held on September 8, 2023, has declared dividend of ₹ 0.05 per share (on the face value of ₹ 1 per equity share) amounting to ₹ 529.75 lakhs.

  • 5 The Company's activities predominantly 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 Board of Directors at their meeting held on November 12, 2021, considered and approved to restructure the business by way of a Scheme of Arrangement for Demerger (“Scheme”) whereby the E-Governance & IT/ITES Business (Demerged Undertaking) of Vakrangee Limited (“Demerged Company”) will be demerged into the VL E-Governance and IT Solutions Limited (formerly known as Vakrangee Logistics Private Limited) (“Resulting Company”) as a going concern basis. Pursuant to the Regulation 37 of the LODR, the Company has obtained No Objection Letter from the BSE and NSE vide their letter dated March 11, 2022 and subsequently, an application was made to the National Company Law Tribunal (NCLT) for further directions.

Pursuant to the Scheme of Arrangement (the 'Scheme'), duly sanctioned by the National Company Law Tribunal, Mumbai Bench, vide its Order dated May 19, 2023 ('Order') with effect from the Appointed Date, i.e. April 1, 2021, the business of E-Governance and IT/ITES stands transferred to and vested in VL E-Governance and IT Solutions Limited as a going concern. In accordance with Sections 230 to 232 of the Companies Act, 2013, the Company filed the NCLT Order with Ministry of Company Affairs (MCA) on May 26, 2023. Consequent to the filing, the scheme became effective from May 26, 2023.

The Scheme has been given effect to in these financial statements by transferring the carying amount of assets and liabilities pertaining to the Demerged Undertaking with effect from the Appointed Date to the Resulting Company with the corresponding debit to the Other Equity.

Consequent to the above, the comparative information in these results for the quarter and half year ended September 30, 2022, is restated from the publised financial results to give the impact of the Scheme. Provision for tax for the accounting periods commencing from April 1, 2021 has been recomputed post giving effect to the Scheme.

The impact of the demerger on the results is as follows:

The impact of the demerger on the results is as follows:
(₹ in Lakhs)
Particulars Quarter Ended Half Year Ended
30-09-2022 30-09-2022
Reported Restated Reported Restated
Revenue from operations 22,599.69 4,067.12 44,259.79 7,971.12
Profit/(Loss)before tax 731.92 104.72 1,334.23 108.60
Profit/(Loss)after tax 529.28 59.94 954.54 37.38
  • 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.

For and on behalf of the Board of Directors Dinesh Nandwana Digitally signed by Dinesh Nandwana DN: c=IN, o=Personal, 2.5.4.20=dbe44fe20d7a3fbc0c62193d0db12264253330d41182a97c8e6d99b44229bc0a, postalCode=400076, st=Maharashtra, serialNumber=31efca8fa786bb488cb7df09dd2400bcf95192e7771905db0ac0ebd72c84c60a, cn=Dinesh Nandwana Date: 2023.11.11 12:17:51 +05'30' Dinesh Nandwana Place : Mumbai Managing Director & Group CEO Date : November 11, 2023 DIN : 00062532

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Vakrangee Limited

Standalone Statement of Assets and Liabilities as at September 30, 2023

(₹ in Lakhs)

(₹ in Lakhs)
Particulars As at
Sep 30, 2023		 As at
March 31, 2023
(Unaudited) (Audited)
I. ASSETS
1. Non-Current Assets
(a) Property, plant and equipment
(b) Capital work-in-progress
(c) Intangible Assets under development
(d) Financial assets
(i) Investments
(ii) Trade Receivables
(iii) Loans
(iv) Other financial assets
(e) Other non-current assets
Total Non-Current Assets
2. Current Assets
(a) Inventories
(b) Financial assets
(i) Trade receivables
(ii) Cash and cash equivalents
(iii) Bank balances other than (ii) above
(iv) Loans
(v) Other financial assets
(c) Current tax assets (net)
(d) Other current assets
Total Current Assets
TOTAL ASSETS		 12,049.65
163.89
434.79
1,931.01
45.92
310.99
177.77
497.84		 12,709.02
98.41
434.79
1,896.01
-
176.34
138.56
818.77
15,611.86 16,271.90
179.79
336.94
2,858.45
723.47
1.72
3,038.76
134.10
2,100.75		 220.84
180.80
2,381.24
877.81
1.81
2,854.03
-
1,711.80
9,373.98 8,228.33
24,985.84 24,500.23
II. EQUITY AND LIABILITIES
1. Equity
(a) Equity share capital
(b) Other equity
Total Equity
2. Liabilities
Non Current Liabilities
(a) Financial liabilities
(i) Borrowings
(ii) Trade payables
- Dues of micro enterprises and small enterprises
- Dues of Creditors other than micro enterprises and small enterprises
(iii) Other financial liabilities
(b) Deferred Tax Liabilities (net)
(c) Employee benefit obligations
Total Non-Current Liabilities
3. Current Liabilities
(a) Financial liabilities
(i) Borrowings
(ii) Trade payables
- Dues of micro enterprises and small enterprises
- Dues of Creditors other than micro enterprises and small enterprises
(iii) Other financial liabilities
(b) Other current liabilities
(c) Provisions
(d) Employee benefit obligations
Total Current Liabilities
TOTAL EQUITY AND LIABILITIES		 10,595.13
(3,394.78)		 10,595.13
(2,982.90)
7,200.35 7,612.23
834.67
-
0.50
1,475.91
291.71
335.70		 1,242.89
-
2.77
1,420.71
246.28
335.70
2,938.49 3,248.35
4,493.42
93.91
1,660.89
6,204.17
1,230.54
1,064.13
99.94		 4,534.16
243.68
1,414.70
5,201.79
754.76
1,383.34
107.22
14,847.00 13,639.65
24,985.84 24,500.23

Vakrangee Limited
(₹ in lakhs)
Vakrangee Limited
Standalone Statement of Cash Flows for the half year ended September 30, 2023
S.
No		 Particulars For the half year ended
Sep 30, 2023		 For the year ended
March 31, 2023
I
II
III		 Cash flow from operating activities
Profit before tax from continuing operations
Profit before tax
Non-cash adjustment to reconcile profit before tax to net cash flows
Depreciation of property, plant and equipment
Employee share based payment expenses
Net foreign exchange differences
Allowance for credit losses
Fair value gain on financial instrument at fair value through
Remeasurement of defined benefit obligations
Gain on disposal of property, plant and equipment
Interest income
Dividend income
Operating profit before working capital changes
Movements in assets and liabilities :
Decrease / (increase) in inventories
Decrease / (increase) in trade receivables
Decrease / (increase) in loans and other financial assets
Decrease / (increase) in other current assets
Decrease / (increase) in other non-current assets
Increase / (decrease) in trade payables
Increase / (decrease) in employee benefit obligations
Increase / (decrease) in provisions
Increase / (decrease) in other financial liabilities
Increase / (decrease) in other current liabilities
Cash generated from operations
Income taxes paid (net of refunds)
Net cash flow generated from operating activities (A)
Cash flow from investing activities
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Proceeds from sale of investments
Investment in subsidiaries
Loans of subsidiaries
Interest received
Dividends received
Net cash flow generated from / (used in) investing activities (B)
Cash flow from financing activities
Proceeds from borrowings
Proceeds from issue of shares
Proceeds towards securities premium on issue of shares
Dividends paid to company's shareholders
Net cash flow(used in) in financing activities(C)		 230.88 227.54
230.88
791.24
(6.30)
0.09
4.94
(35.00)
-
(11.26)
(65.39)
-		 227.54
1,551.36
57.24
0.11
(386.39)
(58.44)
(68.74)
26.06
(42.57)
(1.50)
909.20
41.05
(206.98)
(69.51)
(388.95)
320.94
94.15
(7.28)
(319.21)
1,057.60
475.77
1,906.78
(195.40)		 1,304.67
189.63
374.75
(2,790.88)
189.42
(327.48)
(696.20)
118.56
222.78
(2,307.54)
(2,658.52)
(6,380.82)
(493.05)
1,711.38 (6,873.86)
(305.57)
119.47
-
-
(134.65)
65.39
-		 (572.05)
238.00
-
-
100.85
42.57
1.50
**(255.36) ** (189.13)
(448.96)
-
-
(529.76)		 5,777.05
0.14
1.82
(529.75)
**(978.72) ** 5,249.25
Effects of exchange rate changes on cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Net increase / (decrease) in cash and cash equivalents (A + B + C)		 477.30
(0.09)
2,381.24		 (1,813.74)
(0.11)
4,195.08
2,858.45 2,381.24

Note : The above Statement of Cash Flows has been prepared under the ‘Indirect Method’ as set out in Ind AS 7, ‘Statement of Cash Flows’.

Independent Auditor’s Review Report on Unaudited Standalone Financial Results of Vakrangee Limited for the Quarter and Half Year Ended September 30, 2023 pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS OF

VAKRANGEE LIMITED

  1. We have reviewed the accompanying statement of Unaudited Standalone Financial Results of Vakrangee Limited , (“the Company”) for the quarter and half year ended September 30, 2023 (“the Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. (“the Regulation”).

  2. This Statement, which is the responsibility of the Company’s management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), as prescribed under Section 133 of the Companies Act, 2013 read with relevant rules thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

  3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (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 the Company’s personnel 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 specified under Section 143(10) of the Companies Act, 2013 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.

  4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms 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.

For S K Patodia & Associates Chartered Accountants Firm Registration Number: 112723W

DHIRAJ RAJENDRA LALPURIA Digitally signed by DHIRAJ RAJENDRA LALPURIA DN: c=IN, o=Personal, pseudonym=C926B13FF8B9C6E0C0EBFB399AEA06F0B38B93D9, 2.5.4.20=748569329d4b085d7a8c77c8f5ab4ab8791a476ca9803faa9d011e9997af06d1, postalCode=401101, st=Maharashtra, serialNumber=DF4716DA838B34D4BD0D1DF12AC02E909125EC3E13962164CB8CE42CD79CD9CF, cn=DHIRAJ RAJENDRA LALPURIA Date: 2023.11.11 12:19:32 +05'30'

Dhiraj Lalpuria

Partner Place : Mumbai Membership Number : 146268 Date : November 11, 2023 UDIN : 23146268BGVSIQ5423

==> picture [116 x 58] intentionally omitted <==

VAKRANGEE LIMITED

VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16, M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA CIN : L65990MH1990PLC056669 PHONE : 022 6776 5100 E-mail : [email protected] Website : www.vakrangee.in

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2023

E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100		 E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100		 E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100		 E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100		 E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100		 E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100		 E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100		 E-mail : [email protected] Website : www.vakrangee.in
VAKRANGEE LIMITED
VAKRANGEE CORPORATE HOUSE, PLOT NO. 93, ROAD NO. 16,
M.I.D.C., MAROL, ANDHERI (EAST), MUMBAI - 400 093. INDIA
CIN : L65990MH1990PLC056669
PHONE : 022 6776 5100
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THEQUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2023
(₹ in Lakhs)
S.No. Particulars For the quarter ended For the half year ended For the year
ended
30-Sep-23 30-Jun-23 30-Sep-22 30-Sep-23 30-Sep-22 31-Mar-23
(Un-audited) (Un-audited) (Un-audited
Restated*)		 (Un-audited) (Un-audited
Restated*)		 (Audited)
(1) (2) (3) (4) (5) (4)
1
2
3
4
5
6
7
8
9
10
11
12		 Income
Revenue from operations
Other Income
Total Income
Expenses
Purchase of stock in trade and other operating expenditure
Changes in inventories of stock-in-trade
Employee benefits expense
Finance costs
Depreciation and amortisation expense
Other expenses
Total Expenses
Profit before tax & Exceptional item (1-2)
Exceptional Item
Profit before tax (3+4)
Tax expense
Current tax
Deferred tax
Total tax expenses
Profit for the period / year (5-6)
Other comprehensive income (OCI) / (expenses)
Items that will be reclassified to profit or loss
Exchange difference on translation of foreign operations
Items that will not be reclassified to profit or loss
Remeasurement of net defined benefit obligations (net of taxes)
Total other comprehensive income / (expenses) for the
period / year
Total Comprehensive Income for the Period / Year (7+8)
Paid up equity share capital (face value ₹ 1/- each)
Other Equity excluding revaluation reserves
Earnings per Share (EPS) in ₹ (not annualised)
(a) Basic
(b) Diluted		 5,153.60
75.28		 5,559.24
30.60		 4,874.82
34.09		 10,712.84
105.89		 9,721.48
59.25		 19,730.23
140.25
5,228.88 5,589.84 4,908.91 10,818.73 9,780.73 19,870.48
3,688.22
21.99
488.58
182.94
396.52
362.56		 3,939.98
19.06
485.32
199.40
394.72
452.19		 3,636.95
30.57
387.57
-
419.34
379.72
-		 7,628.19
41.05
973.90
382.34
791.24
814.74		 7,146.40
29.98
794.85
-
811.82
890.63		 14,596.81
189.20
1,531.44
151.53
1,551.36
1,582.12
5,140.81 5,490.67 4,854.14 10,631.47 9,673.68 19,602.46
88.07
11.26
99.33
25.91
31.03
56.94
42.39
(4.32)
-
(4.32)
38.07
10,595.13
0.00
0.00		 99.17
-
99.17
35.39
14.39
49.78
49.39
7.97
-
7.97
57.36
10,595.13
0.00
0.00		 54.77
-
54.77
20.55
20.57
41.12
13.65
(10.57)
44.96
34.40
48.05
10,595.00
0.00
0.00		 187.26
11.26
198.52
61.29
45.42
106.72
91.81
3.65
-
3.65
95.46
10,595.13
0.01
0.01		 107.05
-
107.05
65.20
22.46
87.66
19.39
(15.39)
43.23
27.84
47.23
10,595.00
(0.00)
(0.00)		 268.02
-
268.02
58.78
108.76
167.54
100.48
14.83
(51.44)
(36.61)
63.87
10,595.13
1,789.97
0.01
0.01

*** Refer Note No. 7**

Vakrangee Limited

Notes to the unaudited consolidated financial results for the quarter and half year ended September 30, 2023:

  • 1 The above un-audited consolidated financial results for the quarter and half year ended September 30, 2023 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 11, 2023. The statutory auditors of the Group have reviewed the above consolidated financial results for the quarter and half year ended September 30, 2023.

  • 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 results include the financial results of the Company and its three wholly owned subsidiaries: Vakrangee Finserve Limited, Vakrangee Digital Ventures Limited, and Vakrangee e-Solutions Inc. (together referred to as 'Group').

  • 4 During the quarter ended September 30, 2023, the Holding Company has not granted any options under Company's "ESOP Scheme 2014" to its eligible employees. 5 During the quarter ended September 30, 2023, the Holding Company in its 33rd Annual General Meeting held on September 8, 2023, has declared dividend of ₹ 0.05 per share (on the face value of ₹ 1 per equity share) amounting to ₹ 529.75 lakhs.

  • 6 The Group's activities predominantly comprise providing various services through Vakrangee Kendra. Considering the nature of the Group's business and operations, there is only one reportable operating segment i.e. Vakrangee Kendra.

  • 7 The Board of Directors at their meeting held on November 12, 2021, considered and approved to restructure the business by way of a Scheme of Arrangement for Demerger (“Scheme”) whereby the E-Governance & IT/ITES Business (Demerged Undertaking) of Vakrangee Limited (“Demerged Company”) will be demerged into the VL E-Governance and IT Solutions Limited (formerly known as Vakrangee Logistics Private Limited) (“Resulting Company”) as a going concern basis. Pursuant to the Regulation 37 of the LODR, the Company has obtained No Objection Letter from the BSE and NSE vide their letter dated March 11, 2022 and subsequently, an application was made to the National Company Law Tribunal (NCLT) for further directions.

Pursuant to the Scheme of Arrangement (the 'Scheme'), duly sanctioned by the National Company Law Tribunal, Mumbai Bench, vide its Order dated May 19, 2023 ('Order') with effect from the Appointed Date, i.e. April 1, 2021, the business of E-Governance and IT/ITES stands transferred to and vested in VL E-Governance and IT Solutions Limited as a going concern. In accordance with Sections 230 to 232 of the Companies Act, 2013, the Company filed the NCLT Order with Ministry of Company Affairs (MCA) on May 26, 2023. Consequent to the filing, the scheme became effective from May 26, 2023.

The Scheme has been given effect to in these financial statements by transferring the carying amount of assets and liabilities pertaining to the Demerged Undertaking with effect from the Appointed Date to the Resulting Company with the corresponding debit to the Other Equity.

Consequent to the above, the comparative information in these results for the quarter and half year ended September 30, 2022, is restated from the publised financial results to give the impact of the Scheme. Provision for tax for the accounting periods commencing from April 1, 2021 has been recomputed post giving effect to the Scheme.

The impact of the demerger on the results is as follows:

The impact of the demerger on the results is as follows:
(₹ in Lakhs)
Particulars Quarter Ended Half Year Ended
30-09-2022 30-09-2022
Reported Restated Reported Restated
Revenue from operations 23,407.39 4,874.82 46,010.16 9,721.48
Profit/(Loss)before tax 681.08 54.77 1,330.92 107.05
Profit/(Loss)after tax 462.09 13.65 934.76 19.39
  • 8 The figures of the previous year / period have been regrouped / rearranged / recast to render the comparable with the figures of the current period. 9 The above results of the Group are available on the Company's website www.vakrangee.in and also on www.bseindia.com and www.nseindia.com.

For and on behalf of the Board of Directors

Dinesh Nandwana Digitally signed by Dinesh Nandwana DN: c=IN, o=Personal, 2.5.4.20=dbe44fe20d7a3fbc0c62193d0db12264253330d41182a97c8e6d99b44229bc0a, postalCode=400076, st=Maharashtra, serialNumber=31efca8fa786bb488cb7df09dd2400bcf95192e7771905db0ac0ebd72c84c60a, cn=Dinesh Nandwana Date: 2023.11.11 12:18:39 +05'30' Dinesh Nandwana Place : Mumbai Managing Director & Group CEO Date : November 11, 2023 DIN : 00062532

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Vakrangee Limited

Consolidated Statement of Assets and Liabilities as at September 30, 2023

(₹ in Lakhs)

(₹ in Lakhs)
Particulars As at
Sep 30, 2023		 As at
March 31, 2023
(Unaudited) (Audited)
I. ASSETS
1. Non-Current Assets
(a) Property, plant and equipment
(b) Capital work-in-progress
(c) Intangible Assets under development
(d) Financial assets
(i) Investments
(ii) Trade Receivable
(iii) Other financial assets
(e) Other non-current assets
Total Non-Current Assets
2. Current Assets
(a) Inventories
(b) Financial Assets
(i) Trade Receivables
(ii) Cash and Cash equivalents
(iii) Bank balances other than (ii) above
(iv) Loans
(v) Other Financial Assets
(c) Current Tax Assets
(d) Other Current Assets
Total Current Assets
TOTAL ASSETS		 12,049.65
521.01
434.79
334.01
45.92
322.81
764.67		 12,709.02
347.21
434.79
299.01
-
238.60
868.70
14,472.86 14,897.33
179.79
3,781.02
3,058.96
836.37
1.72
3,047.38
238.64
4,574.64		 220.84
4,007.49
2,588.26
987.25
1.81
2,861.40
218.95
4,023.13
15,718.52 14,909.13
30,191.38 29,806.46
II. EQUITY AND LIABILITIES
1. Equity
(a) Equity share capital
(b) Other equity
Total Equity
2. Liabilities
Non Current Liabilities
(a) Financial liabilities
(i) Borrowings
(ii) Trade payables
- Dues of micro enterprises and small enterprises
- Dues of Creditors other than micro enterprises and small enterprises
(iii) Other financial liabilities
(b) Deferred Tax Liabilities (net)
(c) Employee benefit obligations
Total Non-Current Liabilities
3. Current Liabilities
(a) Financial liabilities
(i) Borrowings
(ii) Trade payables
- Dues of micro enterprises and small enterprises
- Dues of Creditors other than micro enterprises and small enterprises
(iii) Other financial liabilities
(b) Other current liabilities
(c) Provisions
(d) Employee benefit obligations
Total Current Liabilities
TOTAL EQUITY AND LIABILITIES		 10,595.13
1,334.56		 10,595.13
1,789.97
11,929.69 12,385.10
834.67
-
0.50
1,475.92
291.70
335.70		 1,242.89
-
2.77
1,420.71
246.28
335.71
2,938.49 3,248.36
4,493.42
93.91
1,815.80
6,204.17
1,329.63
1,286.33
99.94		 4,534.16
243.68
1,580.62
5,201.78
827.75
1,677.78
107.23
15,323.20 14,173.00
30,191.38 29,806.46

Vakrangee Limited
(₹ in lakhs)
Vakrangee Limited
Consolidated Statement of Cash Flows for the half year ended September 30, 2023
S.
No		 Particulars For the half year ended
Sep 30, 2023		 For the year ended
March 31, 2023
I
II
III		 Cash flow from operating activities
Profit before tax from continuing operations
Profit before tax
Non-cash adjustment to reconcile profit before tax to net cash flows
Depreciation of property, plant and equipment
Employee share based payment expenses
Net foreign exchange differences
Allowance for credit losses
Fair value gain on financial instrument at fair value through Profit and loss
Remeasurement of defined benefit obligations
Gain on disposal of property, plant and equipment
Interest income
Dividend income
Operating profit before working capital changes
Movements in assets and liabilities :
Decrease / (increase) in inventories
Decrease / (increase) in trade receivables
Decrease / (increase) in loans and other financial assets
Decrease / (increase) in other current assets
Decrease / (increase) in other non-current assets
Increase / (decrease) in trade payables
Increase / (decrease) in employee benefit obligations
Increase / (decrease) in provisions
Increase / (decrease) in other financial liabilities
Increase / (decrease) in other current liabilities
Cash generated from operations
Income taxes paid (net of refunds)
Net cash flow from operating activities (A)
Cash flow from investing activities
Purchase of property, plant and equipment, including CWIP
Proceeds from sale of property, plant and equipment
Proceeds from sale of investments
Decrease in foreign currency translation reserve
Interest received
Dividends received
Net cash flow from/(used in) investing activities (B)
Cash flow from financing activities
Proceeds from borrowings
Proceeds from issue of shares
Proceeds towards securities premium on issue of shares
Dividends paid to company's shareholders
Net cash flow(used in) in financing activities(C)		 198.53 268.02
198.53
791.24
(6.30)
0.09
4.94
(35.00)
-
(11.26)
(70.88)
-		 268.02
1,551.36
57.24
0.11
(589.21)
(58.44)
(68.74)
26.06
(50.44)
(1.50)
871.36
41.05
175.62
(119.22)
(551.51)
320.98
83.15
(7.29)
(391.45)
1,057.60
501.88
1,982.16
(297.94)		 1,134.45
189.63
807.29
(772.58)
1,743.37
(327.55)
(945.76)
110.34
(102.73)
(2,307.54)
(2,976.46)
(3,447.56)
(714.06)
1,684.22 (4,161.62)
(413.88)
119.47
-
(11.18)
70.88
-		 (820.85)
238.00
-
14.83
50.44
1.50
**(234.71) ** (516.08)
(448.96)
-
-
(529.76)		 3,050.24
0.14
1.82
(529.75)
**(978.72) ** 2,522.44
Effects of exchange rate changes on cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Net increase / (decrease) in cash and cash equivalents (A + B + C)		 470.79
(0.09)
2,588.26		 (2,155.26)
(0.11)
4,743.63
3,058.96 2,588.26

Note : The above Statement of Cash Flows has been prepared under the ‘Indirect Method’ as set out in Ind AS 7, ‘Statement of Cash Flows’.

Independent Auditor’s Review Report on Unaudited Consolidated Financial Results of Vakrangee Limited for the Quarter and Half Year Ended September 30, 2023 pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS OF

VAKRANGEE LIMITED

  1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Vakrangee Limited (“the Parent”) and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”), for the quarter and half year ended September 30, 2023 (“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, (“the Regulation”).

  2. 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 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder (“Ind-AS”) and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

  3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (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 the Parent Company’s personnel 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 specified under Section 143(10) of the Companies Act, 2013 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 Regulations to the extent applicable.

  1. The Statement includes the results of the following wholly owned subsidiaries,

  2. Vakrangee Finserve Limited

  3. Vakrangee Digital Ventures Limited

  4. Vakrangee E-Solutions Inc. (Philippines)

  5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms 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.

  6. We did not review the interim financial results and financial information of one subsidiary included in the consolidated unaudited financial results, whose interim financial results / financial information reflects total assets of ₹ 6,514.04 lakhs as at September 30, 2023, total revenues of ₹ 842.53 lakhs and ₹ 1,727.22 lakhs, total net profit / (loss) after tax of ₹ (21.75) lakhs and ₹ (31.81) lakhs and total comprehensive income / (loss) of ₹ (21.75) lakhs and ₹ (31.81) lakhs for the quarter ended September 30, 2023, and for the period from April 1, 2023 to September 30, 2023, respectively, and net cash outflows of ₹ 7.11 lakhs for the period from April 1, 2023 to September 30, 2023, as considered in the statement. These interim financial results / financial information have been reviewed by the other auditor whose report has been furnished to us by the Management and our report on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above.

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

  1. The accompanying statement also includes the Group’s share of total assets of ₹ 3,407.90 lakhs, total revenues of ₹ Nil and ₹ Nil, net profit / (loss) after tax of ₹ Nil and ₹ Nil, and total comprehensive income / (loss) of ₹ (4.32) lakhs and ₹ 3.65 lakhs, for the quarter ended September 30, 2023, and for the period from April 1, 2023 to September 30, 2023, respectively, in respect of one subsidiary located outside India, as considered in the statement, based on their interim financial statements / financial information / financial results which have not been reviewed by their auditors, which are certified by the Management.

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

For S K Patodia & Associates Chartered Accountants Firm Registration Number: 112723W

DHIRAJ RAJENDRA LALPURIA Digitally signed by DHIRAJ RAJENDRA LALPURIA DN: c=IN, o=Personal, pseudonym=C926B13FF8B9C6E0C0EBFB399AEA06F0B38B93D9, 2.5.4.20=748569329d4b085d7a8c77c8f5ab4ab8791a476ca9803faa9d011e9997af06d1, postalCode=401101, st=Maharashtra, serialNumber=DF4716DA838B34D4BD0D1DF12AC02E909125EC3E13962164CB8CE42CD79CD9CF, cn=DHIRAJ RAJENDRA LALPURIA Date: 2023.11.11 12:20:25 +05'30'

Dhiraj Lalpuria

Place : Mumbai Date : November 11, 2023

Partner Membership Number : 146268 UDIN : 23146268BGVSIR2672

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