j. j. finance corporation ltd. · action area - 11d, new town, rajarhat, kolkata - 700 156 cin :...

J. J. FINANCE CORPORATION LTD.Regd. Off. : Unit No. 14, 8th Floor, Premises No. 110114,Action Area - 11D, New Town, Rajarhat, Kolkata - 700 156CIN : L659.21WB1982PLC035092

Date: 12.12.2019

To,The Department of Corporate ServicesBombay Stock Exchange Limited.25th Floor, P. J. Towers,Dalal Street, Fort,Mumbai-400 001

Dear Sir,

Sub: Outcome of the Board Meeting pursuant to Regulation 30(2) of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015.

Pursuant to Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, we hereby inform you that the Board of Directors of the Company, at their meeting held today, i.e.,12th December, 2019 has inter alia, transacted the following business:

n Considered and approved the Unaudited Financial Results for the quarter and half year ended 30 thSeptember, 2019, which is enclosed herewith along with the Limited Review Report of theStatutory Auditors, in compliance with Regulation 33 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015.

The meeting commenced at 03:00 P.M. and concluded at 4.30 P.M.

Kindly take the same on record and oblige.

Thanking you

Yours faithfully,For J. J. Finance Corporation Limited

Anujit SinghCompany Secretary and Compliance OfficerMem. No.: A55516

C.C. The Calcutta Stock Exchange Limited7, Lyons Range,Kolkata - 700 001

End: As above.

Tel : 6646 6646 1 2229 6000E-mail : [email protected] : www.jjfc.co.in

Corresponding Address: 3C, Park Plaza, 71, Park Street, Kolkata -- 700 016

A K DUBEY & COChartered Accountants

Independent Auditor ' s Review Report on the Quarterly Unaudited Standalone Financial Results of the Company

Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015, as

amended

To the Board of DirectorsJ. J. Finance Corporation Limited

(1) We have reviewed the accompanying statement of unaudited standalone financial results of J. J. Finance Corporation

Limited (the 'Company ') for the quarter ended September 30, 2019 and year to date from April 1, 2019 to September

30, 2019 (the " Statement") 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 Regulation') as

amended, read with SEBI Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 ('the Circular').Attention is

drawn to the fact that the Statement of cash flows for the corresponding period from April L 2018 to September 30,

2018. as reported in these unaudited standalone financial results have been approved by the Board of Directors of the

Company but have not been subjected to review.

(2) The preparation of the Statement in accordance with the recognition and measurement principles 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 inIndia, read with the Circular, is the responsibility of the Company's management and has been approved by the Board of

Directors of the Company. 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 Engagements (SRE) 2410,

"Review of Interim Financial Information Performed by the Independent Auditor of the Entity " issued by the Institute

of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderateassurance as to whether 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.

(4) Based on our review conducted as above, nothing has cone 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, 2013 as amended,

read with relevant rules issued thereunder and other recognized accounting practices and policies, has not disclosed the

information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in

which it is to be disclosed, or that it contains any material misstatement.

Place: Kolkata

Date: 12-December-2019

Regd. Off.: Fjord Tower, Flat 19A2, 1925, Chakgaria, Niland Park, Kolkata - 700094; 5' (91)(033) 4071-6096; 2462-6148; E-mail : [email protected] Office : 86, Raja Basanta Roy Road, Kolkata - 700029; n (91)(033) 2465-5912; 4008-9349Branch Office :18, R N Tagore Road, P.O. - Berhampore, Dist. - Murshidabad, Berhampore - 742 101

Clo.: Maitra Lodge, Baruipur Kachari Bazar, Bishalaxami Tala, Dist. - South 24 Parganas, Kolkata -700 144

For A K Dubey & Co.Chartered Accountants

Registration No. 32951

KOLKATA-se

ner

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-OA000

bership No.- 05714119057141AAAACF3146

J.J. FINANCE CORPORATION LIMITED

CIN : L65921WB1982PLC035092

Registered Office: Unit No. 14, 8th Floor, Premises No. 11D114, Action Area - IID, New Town, Rajarhat Kolkata - 700156Tel: 033-66466646/22296000

Email: [email protected]

Website: www.jjfc.co.in

/' In Inca

STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTERHALF YEAR ENDED SEPTEMBER 30, 2019

Quarter Ended Half Year EndedSL Particulars 30.09.2019 30.06.2019 30.09.2018 30.09.2019 30.09.2018No.

(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)

Revenue from OperationsInterest Income 12.43 11.74 13.32 24.17 26,25Dividend Income 0.01 - 0.01 0.0f 0.01Rental Income - - - _Fees and commission Income - - -Net gain on fair value changes - - - -Net gain on derecognition of financial instruments under amortised cost category _ _ _ _Sale of producls(induding Excise Duty) - - - - _Sale of services - - - - _Others (Electricity Generation) 7.19 3.09 9.99 10.28 11.78

I Total Revenue from Operations 19.63 14.83 23.32 34.46 38.04It Other Income - - - _III Total Income (I + II) 19.63 14.83 23.32 34.46 38.04

ExpensesFinance Costs _ _ _Fees and commission expense _ _ _ _ _Net loss on fair value changes _ _ _ _Net loss on derecognition of financial instruments under amortised cost category - - - _ _Impairment on financial instruments _ _ _ _Cost of materials consumed _ _ _ _ _Purchases of Stock-in-trade _ _ _ _ _Changes in Inventories of finished goods, stock-in-trade and work-in- progress - - - -Employee Benefits Expenses 2.57 2.45 2.70 5.02 5.01Depreciation, amortization and impairment 0.20 0.21 0.21 0.41 0.41Others expenses 4.19 4.74 3.99 8.93 7.54

IV Total Expenses 6.96 7.40 6.90 14.36 12.96V Profitl(Loss) Before Exceptional & extra ordinary Items & Tax 12.67 7.43 16.42 20.10 25.08VI Exceptional items - - - -VII Profitl(Loss) Before Tax (V-Vl) 12.67 7.43 16.42 20.10 25.08VIII Less : Tax Expense

a) Current Tax 2.29 1.50 3.20 3.79 5.60b) Deferred Tax (0,82) - (0.13) (0.82) (0.13)_

IX Profitl(Loss) for the period from continuing operations 11.20 5.93 13.35 17.13 19.61X Profitl(Loss) from discontinuing operations -XI Tax Expenses of discontinued operations - -XII Profitl(Loss) from discontinued operations (After Tax) - - - -Xlll Profitl(Loss) for the period 11.20 5.93 13.35 17.13 19.61XIV(A)

Other Comprehensive Income(i) Items that will not be reclassified to profit or loss- Equity instruments through other comprehensive income (0.01) - (0.02) (0.01) (0.03)(specify items and amounts)(ii) Income tax relating to items that will not be reclassified to profit or loss 0.001 - 0.002 0.001 0.003

Subtotal (A) (0.01) (0.02) (0.01) {0.03)(B) (i) Items that will be reclassified to profit or loss

(specify items and amounts) - - - - -(ii) Income tax relating to items that will be reclassified to profit or loss - - - -

Subtotal (B) - - -Other Comprehensive Income (A + B) (0.01) - (0.02) (0.01) (0.03)

XV Total Comprehensive Income for the period (XIII+XIV) 11.19 5.93 13.33 17.12 19.58Paid up Equity Share Capital (Face Value 2101- each) 282.00 282.00 282.00 282.00 282.00.Reserves excluding Revaluation Reserves as per Balance Sheet of Previous Accountingyear - - -

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XVI Earning per equity share (Face Value 7101- each) (for continuing operations) (notannualised}

a) Basic 0.40 0.21 0.47 0.61 0.69b) Diluted 0.40 0.21 0.47 0.61 0.69

XV IIEarning per equity share (Face Value 7101- each) (for discontinuing operations)

a) Basic _ _ _ _ _b) Diluted _ _ _ _

XVIII Earning per equity share (Face Value 7 101- each) (for continuing anddiscontinuing operations)(not annualised)

a) Basic 0.40 0.21 0.47 0.61 0.69b) Diluted 0.40 0.21 0.47 0.61 0.69

NOTES:

1 The above financial results are published in accordance with regulation 33 of the SERI (Listing Obligation & Disclosure Requrements) Regulations, 2015, have been reviewed by theAudit committee,limiled review by the Statutory Auditor and approved by the Board of Directors at their meetings held on 1211212019. The financial results are in accordance with theIndian Accounting Statndards (hid AS) as prescribed under section 133 of the Companies Act, 2013, read with rule 3 of the Companies (Indian Accounting Standard) Rules, 2015and Companies (Indian Accounting Standards) (Amendment Rules), 2016,

2 The above financial results pertaining to quarter/half year ended 30th September 2018 is reinstatedlrecasted to be in Ind-AS complaint as per paragraph 32 of Ind AS 401 - FirstTime Adoption of Indian Accounting Standard. Accordingly, the reconciliation of net profit reported in accordance with Indian GYP to total comprehensive income in accordancewith IND-AS is given below

In lacs

Particulars

QuarterEnded

30.09.2018(Unaudited)

Half YearEnded

30.09.2018(Unaudited)

Profitl(Loss) after tax as per eevious Indian GAAP 13.28 23.16Adjustments on account of application of Ind-AS:

Fair Valuation of Equity Instruments (Quoted) (3.61)Expected Credit Loss -Tax Effect on Ind-AS Adjustments - -Changes in Deferred Tax 0.07 0.06

Net Profill(Loss) as per Ind AS 13.35 19.61Other Comprehensive Income (0.02) (0.03)Total Comprehensive Income!{Loss) as per Ind-AS 13.33 19.58

3 The statement does not includes Ind AS compliant results for the preceding half year and previous year ended on 31st March, 2019 as the same are not mandatory and also thecompany has opted for standalone financial results for half yearly ended 30th September 2019, in view of expression vide SEBI Circular No. CIRICFDIFACI6212016 dated 05th July2016.

4 A new section 115BAA was inserted in the Income Tax Act 1961 by the government of India on September 20,2019 vide The Taxation Law (Amendment) Ordinance, 2019 whichprovides an option to companies for paying income tax at reduced rates in accordance with the provisions/ conditions defined in the said section. The company is in the process ofevaluating the impact of this ordinance and has continued to apply the earlier provisions as at September 30,2019.

5 Company's operations mainly consist of Finance & Electricty Generation through Wind Power Mill. Segment Wise Revenue, Results & Capital Employed is separately annexed.

6 Previous period's figures have been recast where ever necessary.

Place: Kolkata

Date : 12-12-2019

3.3. FINANCE CORPORATION LIMITEDCIN : L65921WB1982PLC035092

Registered Office: Unit No. 14, 8th Floor, Premises No. IID/14, Action Area - IID, New Town, Rajarhat Kolkata - 700156

Tel: 033-66466646/22296000

Email: jjfcijjauto.org

Website: www.jjfc.co.in

Segment wise revenue, results, assets and liabilities for the Quarter & Half Year ended on 30th September 2019r In lets

SI. No. PARTICULARSQuarter Ended30/09/2019

Quarter Ended30/06/2019

Quarter Ended30/09/2018

Half yearEnded

Half YearEnded

30/09/2019 30/09/2018(Unaudited) (Unaudited) (Unaudited)

(Unaudited) (Unaudited)

1 Segment Revenue (Net Sale / Incomefrom Ooerationla) Segment - Finance Business 12.44 11.74 13.33 24.18 26.26

b) Segment - Electricity Generation 7.19 3.09 9.99 10.28 11.78

Total 19.63 14.83 23.32 34.46 38.04

Less: Inter Segment Revenue - - - - -

Net Sale / Income from Operation 19.63 14.83 23.32 34.46 38.042 Segment Results [Profit/(Loss)] before

Tax

and

Finance

Cost

from

eachSegment

a) Segment - Finance Business 9.87 9.29 10.63 19.16 21.25

b) Segment - Electricity Generation 4.74 0.15 7.25 4.89 7,24

Total 14.61 9.44 17,88 24.05 28.49

Less: i. Finance cost - - - - -

Less:ii. Other Un-allocable expenditure net1.94 2.01 1.46 3.95 3.41un-allocable income

Total Profit before Tax 12.67 7.43 16.42 20.10 25.08

3 Segment Assets



c) Un-allocable 28.46 2545 28.41 28.46 28.41

Total 660.51 634.05 637.85 660.51 637.85

4 Segment Liabilities



c) Un-allocable 4.94 2.99 5.28 4.94 5.28

Total 8.30 4.58 8.14 8.30 8.14

5 Capital

Employed

(Segment Assets-Seament Liabilities)a) Segment - Finance Business 596.50 579.98 578.76 596.50 578.76


c} Un-allocable 23.52 22.66 23.13 23.52 23.13

Total 652.21 629.47 629.72 652.21 629.72

FOB 3J. FINANCE CORPORATION MITED

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i-'pad ^i(:icor

Am 3hunjhunwafa

iti04kata

(Director)

DIN: 00128717

J.J. FINANCE CORPORATION LIMITEDCIN : L65921WB1982PLC035092

Registered Office: Unit No. 14, 8th Floor, Premises No. IIDI14, Action Area - IID, New Town, RajarhatKolkata - 700156

Tel: 033-66466646122296000

Email: [email protected]

Website: www.jjfc.co.inIn lacs

STATEMENT OF ASSETS AND LIABILITIES AS AT SEPTEMBER 30. 2019As at 30.09.2019SL No. Particulars

(Unaudited)ASSETS

(1) Financial Assets(a) Cash and Cash Equivalents 0.85(b) Bank Balance other than (a) above -(c)(d)

Derivative Financial InstrumentsReceivables

(I) Trade Receivables 24.17(II) Other Receivables 21.61

(e) Loans 546.50(f) investments 27.26(g) Other Financial Assets 0.13

620.52(2) Non-Financial Assets(a) Inventories -(b) Current Tax Assets (Net) -(c) Deferred Tax Assets (Net) 5.77(d) Investment Property -(e) Biological assets other than bearer plants -(f) Property, Plant and Equipment 13.51(g) Capital Work-in-progress -(h) Intangible assets under construction -(i) Goodwill -(j) Other Intangible Assets -(k) Other Non-Financial Assets 20.71

39.99

Total Assets 660.51

(1)

LIABILITIES AND EQUITYLIABILITIESFinancial Liabilities

(a)(b)

Derivative Financial InstrumentsPayables -(I) Trade Payable

(i) total outstanding dues of micro enterprises and small enterprises -(ii) total outstanding dues of creditors other than micro enterprises and

small enterprises 1.94(II) Other Payables

(i) total outstanding dues of micro enterprises and small enterprises(ii) total outstanding dues of creditors other than micro enterprises and

small enterprises -(c) Debt Securities -(d) Borrowings (Other than Debt Securities) -(e) Deposits -(f) Subordinated Liabilites -(g) Other Financial Liabilities 1.27

3.21

(2) Non-Financial Liabilities(a) Current Tax Liabilities (Net) -(b) Provisions 5.09(c) Deferred Tax Liabilities (Net) -(d) Other Non-Financial Liabilities -

5.09(3) EQUITY(a) Equity Share Capital 282.00(b) Other Equity 370.21

652.21

Total Liabilities and Equity 660.51

FOR .J. FINANCE CORPORATIOJ+I tMITED

P/'----''.' {

Wf^il hunjhunwal+t_

I,

(Director)DIN: 00128717

J.J. FINANCE CORPORATION LIMITED

CIN : L65921WB1982PLC035092Registered Office: Unit No. 14, 8th Floor, Premises No. IID/14, Action Area - IID, New Town, Rajarhat

Kolkata - 700156Email: [email protected]: 033-66466646/22296000 Website: www.jjfc.co.in

In lass

STATEMENT OF CASH FLOWS

FOR THE HALF YEAR ENDED

Particulars 30.09.2019 30.09.2018(Unaudited) (Unaudited)

A. Cash Flow from Operating ActivityNet Profit before Tax and Extraordinary items 20.10 25.08Adjusted for :Depriciation 0.41 0.41Operating Profit before Working Capital Changes 20.51 25.49Adjusted for :Trade and Other Receivables 7.71 5.94Trade and Other Payables 2.90 1.43

Cash Generated from Operations 31.12 32.86Direct Taxes paid (net of refund) (0.55) (1.45)Cash Flow before extraordinary items 30.57 31.41Extraordinary itemsCash Generated fom Operating Activities 30.57 31.41Net Cash from Operation 30.57 31.41

B. Cash Flow From Investing ActivitiesSale of Investment - 7.16

Net Cash used in Investing Activity 7.16C. Cash Flow from Financial Activities

Loans and Advances (146.50 (138.78)Net Cash used in Financing Activities (146.50) (138.78)Net increase in Cash and cash Equivalent (A+B+C) (115.93) (100.21)Cash and Cash Equivalents at the beginning of the period 116.78 101.41Closing Balance of cash and cash equivalents 0.85 1.20

Place : Kolkata

Date :12-12-2019

j. j. finance corporation ltd. · action area - 11d, new town, rajarhat, kolkata - 700 156 cin :...

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