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

Aug 11, 2021

V.B. Desai Financial Services Limited

Category I Merchant Banker - SEBI Registration No. INM 000002731

August 11, 2021

The Corporate Relations Department BSE Limited P.J.Towers, Dalal Street, Mumbai - 400 001

Dear Sirs,

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

Ref: Company Code No. 511110

This is to inform you that the Board of Directors of the Company at their meeting held on 11^th August, 2021, has approved the unaudited Standalone Financial Results for the quarter ended on 30^th June 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.

$\mathcal O$

Thanking you,

Yours faithfully, For V.B. DESAI FINANCIAL SERVICES LIMITED

Pradip R. Shroff Managing Director

Encl. as above

Registered Office : Cama Building, 1st Floor, 24/26 Dalal Street, Fort, Mumbai 400 001 CIN: L74120MH1985PLC037218 Tel.: +91-22- 4077 0777 Web: www.vbdesai.com E-mail: info@vbdesai.com

V. B. DESAI FINANCIALSERVICESLIMITED Regd. Office: Cama Building 1st Floor, 24/26, Dalal Street, Fort, Mumbai - 400 001 CIN: L74120MH1985PLC037218

STATEMENT OF STANDALONEUNAUDITED FINANCIALRESULTS FOR THE QUARTER ENDED ON 30TH JUNE, 2021

	/				(Rs. In lakhs)
		Current quarter	Preceeding	Correspondin	Year ended on
		ended 30th	quarter	g quarter	31st March
		June,2021	ended on 31st March,	ended in previous year	2021
			2021	30th June
				2020
		Unaudited	Audited	Unaudited	Audited
1	Revenue from operations	84.24	67.06	64.44	201.43
2	Other Income (net)	3.60	10.09	1.52	14.31
3	Total Income (1+2)	87.84	77.15	65.96	215.74
.4	Expenses
	a. Employee benefit expenses	8.59	8.19	8.55	35.23
	b. Finance costs	0.00	0.00	0.00	0.00
	c. Depreciation and amortisation	0.16	0.16	0.16	0.64
	expenses
	d. Other exoenses	56.10	47.06	46.73	148.11
	Total Expenses	64.85	55.41	55.44	183.98
5	Profit before tax (3-4)	22.99	21.74	10.52	31.76
6	Tax Expense
	a. Current Tax	6.90 <, '"	3.32	2.63	6.69
	b. Deferred Tax	0.00	-0.18	0.00	0.11
	c. Prior Period Tax	it6{)	0.00	5.36	5.55
	Total tax expense	0.00	3.14	7.99	12.35
7	Net profit for the period (5-6)	16.09	18.60	2.53	19.41
8	Other Comprehensive Income/ (Loss)
	a. Items not to be reclassified to profit or	0.00	0.00	0.00	0.00
	loss in subsequent periods, net of tax
	b. Other comprehensive Income/ (Loss)	0.00	0.00	0.00	0.00
	for the period net of tax
9	Total Comprehensive Income for the period (7+8) (comprising profit/ (loss)	16.09	18.60	2.53	19.41
	and other comprehensive income
	10 Paid-up equity share capital (Face Value	453.81	453.81	453.81	453.81
-	of Rs. 10 each)
	Other Equity				581.46
	11 Earning per share (ofRs. 10 each) (not
	annualised)
	8asic (Rs. Rs.J	0.33	0.41	0.06	0.43
	Diluted [in Rs.)	0.33	0.41	0.06	0.43

Notes:

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 Audit Committee and approved by the Board of Directors at their meeting held on 11th August 2021. I

3 The Cornpanv has considered the PossiJle effects that may result from COVID-19 in the preparation of these financial statement, including the recoverability of trade receivables and carrying values of its assets, Inventory and Investments as at the date of approva of these financial results ~nd has concluded that there are no material adjustments required in the financial results. The impact o assessment of COVID-19.is a continuing process given the uncertainties associated with its nature and duration. The Company i, monitoring the situation. closely and is conducting its operations in compliance with all relevant Government directives and wil continue to closely monitor any material changes to future economic conditions and take actions as are appropriate.

Phone: 2623 1716, 2623 7669 Fax: 2624 5364 E-mail: nsshetty_co@yahoo.com

"Arjun", Plot No. 6A, V.P. Road, Andheri (W), Mumbai - 400 058.

LIMITED REVIEW REPORT ON THE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED ON 30th JUNE, 2021

Review Report To, The Board of Directors. V. B. Desai Financial Services Limited Mumbai

• 1 We have reviewed the accompanying statement of unaudited financial results ('the statement') of V. B. Desai Financial Services Limited ('the Company') for the quarter ended 30th June, 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. Attention is drawn to the fact that the figures for the quarter ended 31^st March, 2021 as reported in these unaudited financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures upto the third quarter of the previous financial year. The figures upto the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.
• 2 The preparation of Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and other accounting principles generally accepted in India, is responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to issue a report on the Statements based on our review.
• 3 We conducted our review 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 conducted 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.

4 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 applicable Indian Accounting Standards ('Ind AS') prescribed under section 133 of the Companies Act, 2013 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 FRN: 140101W $T$ Firm No. STW ...bai N. Sudhir Shetty Partner DACO Membership No.:035083 Place: Mumbai Date: 11th August, 2021 UDIN: 21035083 AAAA DF9951