V.B.Desai Financial Services Ltd — Interim / Quarterly Report 2021

Oct 29, 2021

V.B. DesaVFinancial Services Limited

Category I Merchant Banker - SEBI Registration No. INM 000002731

October 29, 2021

/

The Corporate Relations Department BSELimited P.J.Towers, Dalal Street, Mumbai - 400001

Dear Sirs,

Sub: Unaudited financial results for the quarter and year ended 30th September 2021

Ref: Company Code No. 511110

This is to inform you that the Board "-of'l3ltec.tors of the Company at their meeting held on 29th October, 2021, has approved the unaudited Standalone Financial Results for the quarter ended on 30th September 2021. The unaudited financial results and Limited Audit Report issued by the Auditors of the Company M/s. N.S.Shetty & Co., are enclosed herewith.

Kindly take the same on your record.

Thanking you,

EO

Encl: as above

Registered Office: Gama Building, 1st Floor, 24/26 Dalal Street, Fort, Mumbai 400 001 GIN: L74120MH1985PLG037218 Tel.: +91-22- 4077 0777 Web: www.vbdesai.com E-mail: info@vbdesai.com

V. B. DESAI FINANCIAL SERVICES LIMITED

Regd. Office : Cama Building ist Floor, 24/26, Dalal Street, Fort, Mumbai - 400 001 CIN: L?4120MH1985PLC037218

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/ HALF YEAR ENDED ON 30TH SEPTEMBER 2021

V. B. DESAI FINANCIAL SERVICES LIMITED Regd. Office : Cama Building ist Floor, 24/26, Dalal Street, Fort, Mumbai - 400 001 CIN: L?4120MH1985PLC037218 STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/ HALF YEAR ENDED ON 30TH SEPTEMBER 2021 (Rs. 'n lakhs) Z Quarter ended Half year ended ' 30th September 30tit Seaternber 30th September 30th September 31st March 30th June 2021 2020 2021 2020 2021 Unaudited Unaudited Unaudited Unaudited Unaudited Revenue fram operations 70.03 84.24 42.07 154.27 106.51 1 [other Income (net) 3.60 141 3.37 2 6.97 2.93 [Total Income (1+2) 73.40 87.84 43,48 161.24 109.44 3. [Expenses 4 a. Employee benefit expenses 8.59 8.64 8.62 17.23 17.17 : h. Finance costs 0.00 0.00 0.00 0.00 0.00 c. Depreciation and amortisatian expenses 0.16 0.15 0.16 0.32 0.32 4d. Other expenses 58.82 \$6.10 32.26 114.92 78.99 Total Expenses 67.62 64.85 41.04 132.47 96.48 Profit before tax (3-4) 5.78 22,99 2.44 28.77 12.96 31.76 Tax Expense 6 a. Current Tax 1.70 6.90 0.74 8.60 3.37 0.00 b. Prior period tax 0.00 0.00 0.19 5.55 c. Deferred Tax 0.00 5.92 0.29 0.02 0.29 5.55 Total tax expense 172 6.90 1.22 8.62 ~ 9.21 [Net profit tor the period (5-6) 16.09 4.06 7 1.22 20.15 3.75 Other Comprehensive Income/ (Loss) 8 a. Items not to be reclassified to profit or loss in subsequent periods, net of tax 0.00 0.00 0.00 0.00 0.00 b. Other comprehensive Income/ (Loss) for the period net of tax 9.00 0.00 9.09 000 0,00 Total Comprehensive Income fér the period (7+8) (comprising profit' (loss) and other G comprehensive income 4,06 16.09 1.22 20.15 3.75 19.41 Paid-up equity share capital (Face Value of Rs. 453.81 453.81 453.81. 453.81 453.81 453.81 10 each} 10 Jothe Equity 581.46 Earning per snare (of Rs. 10 each) (not Jannualised} 11+ Basic (RS. RS.) '0.10 0.33 0.03 0.44 0.09 Diluted (in Rs.) 0.10 0.33 0.03 0.44 0.09 1 The Company has only one segment i.e Financial Services, therefore segmentwise reporting is not applicable. 2 The above results have been reviewed by the Audi t Committee and approved by the Board of Directors ai tneir meeting held on 29th October 2021. 3 The Company has considered the possible effects that may result from COVID-19 in the preparation of these financial statements including the recoverability of trade receivables and carrying vatues of its assets, Inventory and Investments as at the date of approval of these financial results and has concluded that there are no material adjustments required in the financial results. The impact of assessment of CCVID-19 is a continuing process given the uncertainties associated with its nature and duration. The Company is monitoring the situation closely and is conducting its operations in compliance with all relevant Government directives and will continue to closely monitor any material changes to future economic conditions and take actions as arelappropriate. t 4 The figures of the previous period have been regrouped / reclassified / restated wherever necessary. services 4 rinangy Place: Mumbai Date: 29th October 2021
				Year ended
				2021 Audited
				201.43
				14.31
				215.74
				35.23
				0.60
				0.64
				148.11
				183.98
				6.09
				0.11
				12.35
				19.41
				6.00
				0.00
				0.43 0.43

• 2 The above results have been reviewed by the Audi t Committee and approved by the Board of Directors ai tneir meeting held on 29th October 2021.
• ³The Company has considered the possible effects that may result from COVID-19 in the preparation of these financial statements including the recoverability of trade receivables and carrying vatues of its assets, Inventory and Investments as at the date of approval of these financial results and has concluded that there are no material adjustments required in the financial results. The impact of assessment of CCVID-19 is a continuing process given the uncertainties associated with its nature and duration. The Company is monitoring the situation closely and is conducting its operations in compliance with all relevant Government directives and will continue to closely monitor any material changes to future economic conditions and take actions as arelappropriate.
• 4 The figures of the previous period have been regrouped / reclassified / restated wherever necessary.

t 4 rinangy services Place: Mumbai

Z STATEMENT OF ASSETS & LIABILITIES AS AT 30TH SEPTEMBER 2021
	{Rupees in Lakhs)

Z
STATEMENT OF ASSETS & LIABILITIES AS AT 30TH SEPTEMBER 2021
	{Rupees in Lakhs)
	As at Current	Previous year
	half year ended 30/09/2021 31/03/2021	ended
	Unaudited	Audited
A ASSETS
1 Non-Current Assets
a. Property Plant and Equipment	1.14	1.46
6. Capital Work-in -Progress
	-	-
c. Financial Assets	1.14	1.46
i, Investments	848.23	820.93
ii, Loans	162.04	152.67
tl, Others	5.00	5.00
d. Deferred Tax Assets (net)	10.57	10.55
e. Other Non-Current Assets	21,36	17,23
	1,047.20 ww	1,006.38
2 Current Assets	me,
a. Inventories	0.88	0.76
b, Financial assets
i. Trade Receivables	19.01	14.46
ji. Cash and Cash Equivalents	19.01	8.95
iii Bank balances other than ii} above.	0.82	0.82
iv. Other Financial Assets	17.55	48.76
c. Other Current Assets	6.31	4.68
	63.58	78.43
Total Assets	1,111.92	1,086.27
B. EQUITY AND LIABILITIES
1 Equity
a. Equity Share Capital	453.81	453.81
b. Other Equity	601.62	581.46
Total Equity	1,055.43	1,035.27
2 Liabilities
Non-Current Liabilities
Financial Liabilities
a. Borrowings	-	-
b. Long Term Provisions	27,92	27,92
Total Non-Current Liabilities	27,92	27.92
Current liabilities
Financial Liabihties
a. Borrowings
: b. Trade Payables	14.32	12.75
c, Other currenf liabitities
d. Provisions	6.30	2.38
: Tétal Current Liabilities	7.95	7,95
	28.57	23.08

V. B. DESAI FINANCIAL SERVICES LIMITED

o Cash Flow Statement for the period ended on 30th September, 2021

	For the period ended on 30th September, 2021		For the periad ended on 30th September, 2020
	{Rs.in lacs)	(Rs.in lacs}	(Rs.in lacs)	(Rs.in lacs}
A Cash Flow from Operating Activities
Net Profit before Tax		28,77			12.96
Adjustments for ;
Depreciation	0.32		0.32
Sundry Balances written off	0.15
Interest Income	6,82
Dividend Income
Interest paid
Profit on Sale of Investments
		6.65			0.32
Operating Profit before Working Capital Changes					T3.28
Adjustments for :
(Increase)/Decrease in Trade Receivables	4.40		§.82
(Increase)/Decrease in inventories	-0.12		0.12
Unicrease yvecrease In Loans ano Aavances & Viner
Current and Non-Current Assets	-2,34		15.64
Increase) LeCcrease) IN LADIES & rravisions \	5.49		"1.54
		-1.37			"11.48
					T.80
Income Tax Refund
Interest on Incéme Tax Refund
Income Tax Paid		12.72			+620
Net Cash flow from Operating Activities (A)					3.40
Cash Fiow from Investing Activities o
Purchase of Fixed Assets
Purchase of investments/Securities for trade
Interest Received		2.03
Dividend Income
Sale of Investments
Net Cash flow from Investing Activities (B)		2.03			>
Cash Flow from Financing Activities 0
Interest paid
Net Cash flow from Financing Activities (C)
Net Increase/(Decrease) in Cash & Cash Equivalents (AtB+C)		10.06			-3.40
Cash & Cash Equivalents at the beginning of the year		9.77			11.52
Cash & Cash Equivalents at the end of the year		19.83			8.12

wy

N.S. SHETTY & CO. CHARTERED ACCOUNTANTS

Phone : 2623 1716, 2623 7669 Fax : 2624 5364 "Arjun", Plot No. 6A, V.P. Road. E-mail : nsshetty_co@yahoo.com Andheri (W), Mumbai - 400 058

Independent Auditor's Limited Review Report on Unaudited Financial Result of V. B. Desai Financial Services Limited For the quarter and half year ended 30" September, 2021 pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF .

V. B. Desai Financial Services Limited

We have reviewed the accompanying statement of unaudited financial results ('the statement') of V. B. Desai Financial Services Limited ('the Company') for the quarter and half year ended 30 September, 2021 attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with the relevant rules issued thereunder, and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.

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 persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit eonducted in accordance with the Standards on Auditing specified under Section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us

read with relevant rules issued thereunder and other recognized accounting practices and polices has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For N S Shetty & Co Chartered Accountants

Membership No.:035083 Place: Mumbai Date: 29th October, 2021 UDIN: 21035083AAAAEV4411