february 13, 2016c r oic g · dear sir/madam, the board of directors of the company at its meeting...

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri (East), Mumbai - 400099.

Tel. *91-22-6707 9999 Email Id: [email protected] www.choiceindla.com, CIN:L67190MH1993PLC071117

End: Results for the Quarter and Nine Months ended December 31,2015

Choice International Limited

REF: CIL/CC/BSE-31/2015-16^ ^'February 13, 2016C R OIC G

To,The Department of Corporate Services,

The BSE Limited,

P.J. Towers,Dalai Street,Mumbai - 400 001

Sub: Outcome of Board Meeting held on 13th Feb. 2016.

Scrip Code: 531358

Dear Sir/Madam,

The Board of Directors of the Company at its meeting held on February 13, 2016, interalia, has considered and

transacted the following business:

1.The Board has considered and adopted the Un-audited Financial Results for quarter and Nine

Months ended on December 31,2015 and has noted the Limited Review Report of Auditors thereon.

2.The Board considered and approved fresh issue of 1,00,00,000 ( One Crore) warrants on preferentialbasis to Promoters at a price of Rs. 40/= ( Rupees Forty ) each as per SEBI (Issue of Capital and

Disclosure Requirement) Regulation 2009 and subject to the approvals of Shareholders and any

regulatory authorities, as may be required. Each warrant is convertible into one Equity Shares at anytime after its allotment but not later than Eighteen Months. The Board also approved the

corresponding increase in Authorized Share Capital of the Company.

3.The Board has decided to convene the Ex^raordinary General Meeting of the Company on Tuesday,15th March 2016 for the approval of the Preferential Issue of Warrants as stated herein above and

consequent alteration of Capital Clause in the Memorandum and Article of Association of theCompany as per the Companies Act, 2013 & SEBI (Issue of Capital and Disclosure Requirement)

Regulation 2009 & other applicable statutory provisions. The Board has approved the Draft Notice for

calling the Extraordinary General Meeting.

Accordingly , the relevant date for the pricing of the aforesaid preferential issue of Warrants to be

converted in to Equity Shares in terms of SEBI (ICDR) Regulation, 2009 is 13th February 2016.

4.The Board has considered and approved Policy on Preservation of Documents and Policy on

Materiality of Events for the Company.

The above is for your information and dissemination to the shareholders.


Tel. 4-91-22-6707 9999 Email Id: Info^choiceindia.com www.choiceindia.com, CIN:L67190MH1993PLC071117


5.105.10

5.10

5.038.96

1000.48

510.06

0.00

469.83

469.83

62740

519.43182842

3841.55323.3622745

1250.21

(622.22)

2662.75

5669.97

5413.72

Audited31.03.2015

Year Ended

1.731.73

1.731.72

1000.48

172.98

o.oc0.0C

172.9E

172.98

113.62

28640

1553 51

306.131247.48

2679.51188.15179.36

1069.26

(318.59)

1561.40

3927.06

3824.45

Unaudited31.12.2014

3.013.01

3.013.01

1000.48

300.90

0.0013.73

287.17

287.17

159.09

446.26

1882 92

251.721631.20

8160.0442246153.27

1255.67

35.68

6292.96

9791.24

9428.91

31.12.2015

Nine Months Ended

0.920.92

0.920.92

100048

9244

O.OC

92.44

92.44

42.83

135.27

587 28

92.97494.31

1OO6.3C72.6959.36

405.56

(374.52)

843.19

1500.61

1458.62

31.12.2014

1.391.3E

1.3S1.35

1000.48

139.41

0.0(0.9E

138.4:0.0E

78.81

217.30

73244

10E.0C626.54

2464.11137.2751.26

375.22

150.19

1750.17

3090.65

2972,14

3049.2015

0.690.69

0.690.69

1000.48

68.92

O.O C6.76

62.16

62.16

23.65

8541

462.0254743

66.47481.36

2954.73191.8C

52,17371.62

1.74

233740

3436.05

3281.58

31.12.2015

Quarter ended

^D.iuted

(i i) Earnings per Share(EPS) (after Extra OrdinaryitemsHof Rs 10/- each)(not annuelised)

a) Basic

( 1) Earnings per Share(EPS) (before ExtraOrdinary Items) (of Rs 10/- each)(nol annuallsedl

Reserves excluding Revaluation Reserve as perBalance Sheet of Previous Accounting Year

Paid Up Equity Share Capital (Face Value Rs 10/-)

Net Profit after taxes, minority interest andshare of profit of associates

Minority InterestShare of profit/(loss) of associatesNet Profit/1 Loss) for the period (11-12)Extra-Ordinary Items (net of Tax expense)

Net Profit/I Loss) from Ordinary Activities afterTax (9-10)

rax Expenses

Profit/(loss) from Ordinary Activit ies before Tax

Profit/!Loss) from ordinary activities afterfinance Cost but before exceptional Items (5-6)

Profit/doss) from ordinary activities beforefinance Cost and exceptional Items 13*4)

Other Income

Profit/(Loss) from operations before otherIncome, finance costs and exceptional Items (1-2)

Total Expenses'e) Administrative & Other Expenses'd) Depreciat ion and Amortisat ion Expensec) Personnel Expenses

(b JChanges in inventories of finished goods, work

(a) Operational Cost / Purchase of Stock in Trade

Expenses

Total Income from Operations (Nat)

;a) Income from Operations/ Salesncome from Operations

Particulars

20

19

18

16

15

i;12n

10

t

;

Sr.No.Statement of Consolidated Unaudited Financial Results for theQuarter and Nine Months Ended December 31,2015

Choice

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri (East), Mumbai - 400099,

Tel. +91-22-6707 9999 Email Id: [email protected] www.choiceindla.com, CIN:L67190MH1993PLC071117


or theQuarter and Wine Months Ended December 31.M15

Disposed of during the quarterReceived during the quarter

beginning of the quarter

Percentage of Shares (as a ^ of the totalwehoiding of promoters and promoter group)

Perc^ntage of Shares (as a % of the total shareapital of the company)

"ftChoice


Tel. *91-22-6707 9999 Email Id: info^choiceirtdia.com www.choiceindla.com, CIN:L67190MH1993PLC071117


id of the accounting year.

npany for the quarter ended December 31,2015

AuditedarEnded |mths Er

UnauditedUnauditedQuarter Ended

Particulars

Notes:1.The aforesaid consolidated financial results were reviewed by the Audit Committee of the Boathe Company at its meeting held on February 13, 2016. The financial results for the quarterreviewed by the Statutory Auditors of the Company.2.The above consolidated results includes the results of : Choice International limited and its subsidiaries namely: Choice Equity Broking PrivateLimitedXhoice Consultancy Services Private Limited .Choice Capital Advisors Private limited .Choice Insurance Brokers Private Limited, Choice WealthManagement Private Limited, Choice Merchandise Broking Private Limited, .Choice Corporate Services Private Limited, Choice E Commerce Private Limitedand share of profit from Associate namely: Aqua Pumps Infra Ventures Ltd, have been extracted from consol idated financial statements prepared inaccordance with the principles as set out in the Accounting Standard -21 and Accounting Standard-23.3.Choice International and its subsidiaries operations predominantly relates to five business segments I.e. NBFC operations, broking services, investmentbanking, outsourcing services & E-commerce Services. E-Commerce Segment has been started its operations under new wholly owned subsidiary of Choice,international Limited ie. 'Choice E-commerce Private Limited1 in the current quarter,Business segments have been Identif ed as separable primary segmentin accordance with Accounting Standard 17" Segment Reporting' as prescribed under Companies (Accounting Standards)Rules.2006, taking Into account theorganisational and internal reporting structure as well as evaluation of risks and returns of these segments. The balance is shown as unallocated items.4.Fixed Assets used in Company's Business or Liabilities have not been Identi fied to any reportable segment, as the fixed assets are used interchangeablybetween segments. It is not possible to furnish segment disclosure relating to total assets and l iabil ities.5.Unaudited financial results of Choice International Limited (Standalone) are as follows:(f In lakhs)

0.00260.92

0.00888.32

0.00146.31108.64

444.1J

5669.97272.62

5942.590.00

865.24830.28

1234.623012.45

AuditedYear Ended

0.00195.27

0.00481.87

0.00

S7.3B

3927.06222.99

4150.0S0.00

603.62735.52600.21

2210.70

Unaudited

0.0C229.75

0.0C676.0C(53.33!

71.68288.52

9791.24249.25

10040.530.0C

2293.983654.16

569.943S22.4S

UnauditedNine Months Ended

0.0C64.320.0C

199.59O.OC

38.8118.80

90.61

1500.6149.58

1550.190.0C

203.78306.98296.3C743.13

Unaudited

0.0075.25

0.00292.5S

(1.59151.57

150.17

3090.65149.87

3240.520.00

869.25817.93245.69

1307.65

Unaudited

0.0080.23

0.00166.03(53.33)

126.48(17.10)

3436.0949.75

3485.840.00

749.851435.09

197.221103.68

UnauditedOuarter Ended

Capital Employed (Segment assets-Segmentliabilit ies)

Add: Unallocable IncomeOther Unallocable Expenditure Net Off

.ess: Finance CostTotal^-Cnmmerce Services

ûtso^rcing Servicesnvestment Banking ServicesSroklng Service!

Segment Results Profit/floss) before tax andYet Income from Operations.ess: Inter Segment Revenue

Total^Commerce ServicesVBFC & Other Servicesûtsourcing Servicesnvestment Banking ServicesJroking Services

Segment Revenue

Particular!

1

e.d.c.b.

2

c.b.a.

Sr.No

ÂChoice

GUPTA SHYAM & Co#CA. Shyamsunder Gupta!Chartered Accountants{B Com(Hon.J, FCA, DISA (ICAI} |11, Sukhsagar.CHS Ltd. Akurii X Rd-1,,

' Kandivali(E).Mumbai-40010i/|;E-mail: ca [email protected]. Tel: 28870869jIRef:SSGfltd-reviewJ Q3 / 2015-16___|

Date: 13-02-2016INDEPENDENT CONSOLIDATED LIMITED REVIEW REPORT

The Board of DirectorsChoice International LimitedShree Shakambhari Corporate ParkPlot No 156,157 S 158, Chakravarti Ashok SocietyJ. B. Nagar, Andheri (East), Mumbai - 400099

Dear Sir,

We have reviewed the accompanying statement of unaudited consolidated financial results of Choice InternationalLimited for the quarter and six months ended on December 31. 2015_except for toe disclosures regarding 'PublicShareholding' and Promoter and Promoter Group Shareholding' which have been traced from disclosures made by themanagement and have not been audited.by us. This statement is the responsibility of the Company's Management andhas been approved by Board of Directors / Committee of Board of Directors. Our responsibility is to issue a report onthese financial statements based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410 "Review of InterimFinancial Information performed by toe independent auditor of the entity", issued by Institute of Chartered Accountantsof India. This standard requires that we plan & perform the review to obtain moderate assurance as to whether thefinancial statements are free of material misstatement. A Review is limited primarily to inquiries of company personneland analytical procedures applied to financial data and thus provide less assurance than an audit We have notperformed audit and accordingly, we do not express an audit opinion.

Further We did not reviewed toe Statement of financial results of eight subsidiaries, whose financial statements reflecttoe group's share of total assets of Rs.181.40.68.182/- revenue of Rs.79.98.15.946/- and toe net profit ofRs.2.9747,225 and groups share of net profit of Rs.13.73,973 from one associates for the for the period of ninemonths and total assets of Rs.181.40,68.182/- revenue of Rs.27,35.99.727 /- and the net profit of Rs.36.53,474 andgroup's share of net profit of Rs.6,76164 from one associates for toe quarter ended on December. 31 , 2015 has beenconsidered in consolidated financial statements The financial information of these subsidiaries and associates havebeen reviewed by toe other auditor whose reports have been furnished to us by the management and our opinion ontoe quarterly financial results is based solely on toe report of toe other auditor.

Based on our review conducted as above, nothing has come to our notice that causes us to believe Oat toeaccompanying statement of unaudited consolidated financial results prepared on the basis of the Accounting Standard

as specified under section 133 of the Companies Act 2013. read with Rules 7 of the Companies (Accounting) Rules2014 and other Accounting Principles generally accepted in India and has not disclosed the information required to bedisclosed in terms of Regulation 33 of toe SEBI (Listing Obligation & Disclosure Requirement ) Regulation 2015including the manner in which it is to be disclosed or that it contains any material misstatement

For Gupta Shyam & Co.Chartered AccountantsFRN:103450W

CA Shyamsunder Gti'iProprietorMembership No.638484

CA

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri {East), Mumbai - 400099.

Tel. +91-22-6707 9999 Email Id: [email protected] www.choiceindia.com, CIN:L67190MH1993PLC071117


1.431.43

1.431.43

3984.46

1000.48142.77

0.00142^7

157.430.00

157 43

43118588 61

0.35

588.26

276.98

114.1604.24

3.18

14.23

865.240.00

865.24

Audited31.03.2015

Year Ended

0.750.75

0.750.75

1000.4875.25

0.0075.25

94.800.00

94.80

318 08

0.31

412.57

191.05

80.5644.63

(5.03)

0.12

603.620.0C

603.62

Unaudited

0.900.90

O.900.90

1000.4889.74

o.oc89^4

89.74

89.74

36510

0.01

454.83

1839.15

83.6875.07

12.57

1595.41

2293.980.0C

2293.98

UnauditedNine Months Ended

0.190.19

0.13

18.96

ia.96

23.91

23.91

110 55

0.10

134.36

69^

28.9315.39

5.71

0.05

0.0C203.78

Unaudited

0.57

0.57

57.48

57.48

72.39

72.39

149.89

0.00

222.28

646.97

27.6024.04

1165

558.68

0.0C869.25

Unaudited

0.26

0.26

25.65

25.65

9.02

9.02

101.37110.89

0.00

110.89

nut

27.7.-26.4^

0.40

557.8^

749.85O.GC

749.85

31,12,2015

Quarter ended

b) Diluted

l i) Earnings per Share(EPS) (after Extra Ordinary ltems)[of Y10eachKnot annualised)

b) Diluted

i) Earnings per Share(EPS) (before Extra Ordinary hems) (of T10each Knot annualised)

teserves excluding Revaluation Reserve as per Balance Sheet of•aid Up Equity Share Capital (Face Value Rs 10/-)

Net Profit/(Loss) for the period (11-12)

4et Proflt/(Loss) from Ordinary Activit ies after Tax (9-10)

Profit/floss) from Ordinary Activities before Tax (7-8)

Profit/(Loss) from ordinary activities after finance Cost but beforeexceptional Items (5-6)

Finance Costs

e^o^'!^ o^T^ "^^^ ^"^ ^"*"" ^""^Other Income

Profit/I Loss) from operations before other Income, finance costs andexceptional Items (1-2)

Total Expenses

d) Depreciation and Amortisation Expensesc) Personnel Expenses

(b [Changes In inventories of finished goods, work-in-progress andstock-in-trade

a) Operational Cost / Purchase of Stock in TradeExpenses

Total Income from Operations (Net)b)Olher Operating Incomea) income from Operations/Salesncome from Operations

Particulars

11

16

15

13

[^

76

54

3

2

1

Sr, No.Statement of Standalone Unaudited Financial Result* for the Quarter and Nine Months Ended December 31,2015

Choice

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158,1. B. Nagar, Andheri (East), Mumbai - 400039,

Tel. *91-22-6707 9999 Email Id: [email protected] www.cholceindla.com, CIN:L67190MH1993PLC071117


JL

1.The aforesaid standalone financial results were reviewed by the Audit Committee of the Board and subsequently approved by the Board of Dirt

2.Based on the guiding principles stated In accounting standard 17 "Segment Reporting", the management does not recogniscompany.3.The effect of deferred tan liabil ity and provis ion of retirement benefits shall be considered at the end of the accounting ye4.The figures for the previous year/period have been regrouped and rearranged wherever deemed necessary.S.Theresultswil l be available on the Company's website "www.choiceindia.com"

34.35%

82.09%

3436527

17.91%

750000

58.15%

Audited31.03.2015

fear Ended

29 35%

79.66%

2936527

20.31%

750000

63.15%

audited12.2014

Ended

39 35%

84.00%

3936527

16.00%

75000C

53.16%153182731

UnUnaudited

29.35%

79.66%

2936S27

70.34%

750000

63.15%

Unaudited

39 35%

84.00%

3936527

16.00%

750000

53.16%

Unaudited

0000

Quarter enrfudDecember 31,

2015

39 35^

3936527

16.00^

7SO0OC

53.1 6%S318373

Unaudited31.tZ.201S

Quarter endedInded December 31,2015

he

promoters

.unoteis

ê Quarter and nine Months

capital of

holding o

lemaining unresolved at the end of the quarterîsposed of during the quarter

'ending at the beginning of the quarter

Particulars of investor Complaints

Percentage of Shares fas a % of the total sharecompany)

Percentage of Shares (as a %of the total shareand promoter group!

Number of Shares

Percentage of Shares (as a % of the total shdrehutdlng ofand promoter group}

nation for

Number of Sharesa) Pledge d/Cncumbe red'romoter and Promoter Group SliarehoWing

Percentage of Shareholding

>ubllc Shareholding:

Particulars

B

2

1

St. No.Select Infon

ÂChoice

• • - GUPTA SHYAM S CoCA. Shyamsunder Gupta |

(A Chattered Accountants{ B Com(Hon.), FCA, DISA (ICAI}1 VV V 11. Sukhsagar.CHS Ltd. Akurii X Rd-1iI " Kandiuali (E). Mumbai-400101I' E-mail: ca.shyamsundetouDta®Qmail.comTel: 28870869 '

LReBSSG / ltd-reyjew^33 / 2015-16i

Date: 13-02-2016

INDEPENDENT STANDALONE LIMITED REVIEW REPORT

The Board of DirectorsChoice International LimitedShree Shakambhari Corporate ParkPlotNo 156,157 & 158,Chakravarti Astiok SocietyJ B- Nagar, Off Sahar Road,Andheri (East), Mumbal - 400099

Dear Sir.

We have reviewed the accompanying statement of unaudited financial results(Standalone) of Choice IntemafionalLimited for the quarter and Nine months ended on December 31 2015 except for the disclosures regarding 'PublicShareholding' and Promoter and Promoter Group Shareholding which have been traced from disclosures made by themanagement and have not been audited by us.. This statement is the responsibility ol the Company's Management and

has been approved by Board of Directors / Committee of Board of Directors. Our responsibility is to issue a report on

these financial statements based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410 'Review of InterimFinancial Information performed by the independent auditor of the entity", issued by Institute of Chartered Accountantsof India This standard requires that we plan 8 perform the review to obtain moderate assurance as to whether thefinancial statements are free of material misstatement. A Review is limited primarily to inquiries of company personneland analytical procedures applied to financial data and thus provide less assurance than an audit. We have not

performed audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our notice that causes us to believe that theaccompanying statement of unaudited standalone financial results prepared on the basis of the Accounting Standard asspecified under section 133 of the Companies Act. 2013. read with Rules 7 of the Companies (Accounfing) Rules 2014and other Accounting Principles generally accepted in India and has not disclosed the information required to bedisclosed in terms of Regulation 33 of the SEB! (Listing Obligation & Disclosure Requirement) Regulation 2015including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Gupta Shyam & Co.Chattered Accountants