V2 Retail Limited

May 1 0, 2019

To.

National Stock Exchange of India LimitedExchange Plaza, Plot No. C/I, G Block, BandraKurla Complex, Bandra (East) Mumbai-40005 1NSE Code- V2RETAIL

BSE Limited25th floor,"Phiroze Jeejeebhoy TowerDalai Street, Fort. Mumbai-40000 1BSE Code-532867

Subject- Pursuant to Regulation 30 of the DEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, Intimation about adoption of the Audited Financial Results for the

year and quarter ended March 31, 2019.

Ref V2 Retail Limited, (Scrip Code: 532867)

Dear Sir/Ma'am,

Pursuant to the Regulation 30 of the SEBI (Listing Obligations ind Disclosure Requirements) Regulations,

2015 please find attached herewith Audited Financial Results for the year and quarter ended March 31

2019. The same is considered and approved by the board of directors of the company at the board meeting

held on Friday, May 10, 2019 at 2:00 PM and concluded at 4:30 PM at the registered ofHce of the

company.

This is for your information and record

Thanking You

For V2 Retail Limited

Mr.Chaimlan & ManagingDIN00491885

Khasra No. 919,921 ,926,928, Extended Lal Dora Abadi Village Kapashera leshil Vacant Vihar,South West Delhi -110037 Land Mark:- Fun N Food Village Amusement Park ' Tel.: 011-41771850

E-mail ; customercare@vrl.net.in, cs@vrl.net.in . Website: www.V2retail.com . CIN : L74999DL2001 PLC147724

Walker Chandiok &Co LLP

Walker Chandiok & Co LLP21 st Floor, DLF SquareJacaranda Mare. DLF PhaseGurugram 122002India

T +91 124 462 8000F +91 124 462 8001

Independent Auditor's Report on Financial Results of the Company Pursuant to theRegulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015

To the Board of Directors of V2 Retail Limited

We have audited the financial results of V2 Retail Limited ('the Company ') for the year ended31 March 2019, being submitted by the Company pursuant to the requirement of Regulation 33 ofthe DEBI (Listing Obligations and Disclosure Requirements) Regulations. 201 5. Attention is drawnto Note 4 to the financial results regarding the figures for the quarter ended 31 March 2019 asreported in these financial results, which are the balancing figures between audited figures inrespect of the full financial year and the published year to date figures up to the end of the thirdquarter of the financial year. Also, the figures up to the end of the third quarter had only beenreviewed and not subjected to audit. These financial results are based on the financial statementsfor the year ended 31 March 2019 prepared in accordance with the accounting principles generallyaccepted in India. including Indian Accounting Standards ('lnd AS') specified under Section 133 ofthe Companies Act. 2013 ('the Act ') and published year to date figures up to the end of the thirdquarter of the financial year prepared in accordance with the recognition and measurementprinciples laid down in Ind AS 34, Interim Financial Reporting, specified under Section 133 of theAct. and SEBI Circulars CIR/CFD/CMD/15/2015 dated 30 November 2015 andCIR/CFD/FAC/62/2016 dated 5 July 2016. which are the responsibility of the Company'smanagement. Our responsibility is to express an opinion on these financial results based on ouraudit of the financial statements for the year ended 31 March 2019 and our review of financialresults for the nine months' period ended 31 December 2018.

2 We conducted our audit in accordance with the auditing standards generally accepted in India.Those standards require that we plan and perform the audit to obtain reasonable assurance aboutwhether the Hnancial results are free of material misstatement(s). An audit includes examining. ona test basis, evidence supporting the amounts disclosed as financial results. An audit alsoincludes assessing the accounting principles used and significant estimates made bymanagement. We believe that our audit provides a reasonable basis for our qualified opinion

Walhw Ctundiok & Co LUI is registered wih limited labilitywith idMtificabon number AAC-2085 and tts registeredoffice at L41 Connaught Circus. New Debi, 110001, India

\Walker Chandiok &Co LLP

Independent Auditor's Report on Financial Results of the Company Pursuant to theRegulation 33 of the SEBt (Listing Obligations and Disclosure Requirements) Regulations,201 5 (Cont'd)

As stated in Note 5 to the accompanying financial results, the Company's other equity as at31 March 2019 includes an amount of Rs. 365.36 lakh in the nature of capital reserve arising outof business restructuring carried out in earlier years, for which the Company's management hasnot been able to provide necessary reconciliation and information. In the absence of sufficientappropriate audit evidence, we are unable to comment upon the appropriateness andclassification of the aforesaid balance, and the consequential impact, if any, on the financialresults. This matter was also modified in our audit report on the financial results for the year ended31 March 201 8

4. As stated in Note 6 to the accompanying financial results, the Company's contingent liabilities asat 31 March 2019 include an amount of Rs. 2,512.37 lakh relating to litigations pending withvarious authorities. for which the Company's management has not been able to provide necessarydetails and information. In the absence of sufficient appropriate audit evidence. we are unable tocomment upon the appropriateness and classification of the aforesaid amounts includingmanagement's evaluation of likely outcome of such litigations in accordance with Ind AS 37.Provisions. Contingent Liabilities and Contingent Assets" and the consequential impact, if any, on

the total liabilities and loss as at and for the year then ended. This matter was also modified in ouraudit report on the financial results for the year ended 31 March 2018.

5. In our opinion and to the best of our information and according to the explanations given to us, thefinancial results

(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015. read with SEBI CircularsCIR/CFD/CMD/15/2015 dated 30 November 2015 and CIR/CFD/FAC/62/2016 dated5 July 201 6 in this regard except for the possible effects of the matters described in paragraphs3 and 41 and

(ii) give a true and fair view of the net profit (including other comprehensive income) and otherfinancial information in conformity with the accounting principles generally accepted in Indiaincluding Ind AS specified under Section 133 of the Act-for the year ended 31 March 2019except for the possible effects of the matters described in paragraphs 3 and 4.

For Walker Chandiok & Co LLPChartered AccountantsFirm Registration No.:.9QIP76N/N500013

Rohit Arora \&#X Jv+?Partner ' 'iqllil$FBiE€15$}Membership No. 504

Place: New DelhiDate: 10 May 2019

© V2 Retail LimitedV2 petri! LimitedStatement of $nancia} results for the quarter and yi med 3$ March 20'i9

Khasra Na. 919,92'f ,926,g28. Extended Lat Dora Abadi Village Kapashera Teshif Vacant Vihar.South West Delhi -110037 Land MaA:- Furl N Food Village Amusement Park . lef.: O11-4t771850

particulars   31 December 31 lakh 2D18  31 Ment

(Rear nate 41 tunRuditedl prefer note 41 [AudltBd tAudtteO

 

RevenueRevenue from Qne hansamor tacomaTotal revenue

Expen$eBpunch se of stclaqn-tradeChanges n inventQnes Qf sled\ Fn tradeEmployee bene6ts expense

Dep aa on and BmQRisation exp8Qse)therexpeitsesFoul expBns6B

Front befpm tax and excBPUQnalltem$(1-2jxceptional hems (rehn note

print Demon tax {34)Fax xpBn$e;uKenttax]eferrea tax tGndjt}/chargerofl !ax {cnoitl/expenseBrant for the pBNod {5 6}

)then comprehensive Incomei} items that wll nQt be classified to the statement Qf)rMt and k)s$}) Income tax minting ta jt9m$ tha wll nat be recla8$ihedo the statement QF Ofant ena lass} !temp tha! w !t be ''Glas$E eG to the statement of pmHt

ind IMSIncome tax deleting ta items that MIE be reda$si$ed tq

he statement aF Q '- fit and Eo$$

rqhl other compnhen$ivB }nGameraul Camp'-hen$1ve Income fcr ne pBdadcomprbtRg {iossppmnt and ether cempnhen$1Yencame far Ue Denod! {7+8)

)aid-up equity shan capital (faw value Qf R$ 10 each))!her equity as pef Dnlance sheet

:aming$ per Shan(af Rs. 10 each} Chat annuafl$ed}3aBic          

a V2 Retail LimitedStatement of assets and liabilities as at 31 March 201 9

t::!$6ii:i!#>' Khasra No. 919.921.926.928. Extended Lal Dora Abadi Village Kapashera Te$hil Vacant Uhnn.South West Delhi -11003?' Land Mark:- Fun N Food Village Amusement PaM . lef.: Of'1..41771850

a

Paf$culars

        Audi£Ba  ASSETSNon4unent aB$8t$a} pfQpenr. plant and equipmentb} capital work-in-pragnssE) Other intangible a$$ebd! intangible aSSetS under developmente} Flnanaal esse!$

F Other nnanaa} assetsD Delernd tax as$8 (net)g) Income t3x asSetS cnet)h} Other non-current a$se!$

Total non-cuimnt aSSetS

Curnnt a9$eh3) InventQnesb) F nancial assets

} Inve$(ments} cash and Hsh equivalents

C)thor $nancie! assetsc} Other wrreRt a$wt$

TQtai cufTBnt assetAssets ciassi ed as held fof Sale

TOTAL ASSETS

   14.483.33 to.325.el

   30.7e0.7$

+ .243 9927,367.1S].243.99

31.944.74 28.6]1.144e.428.07 38.936.16

EQUITY AND LUBILITiE$a) Equity Share capitab) Other eqUIty

Total equity

Nan-curnnt liabilitiesa} BQnowing$b} Financial li8bilitEes

j) auer non-Gunent liabi:itle8

BurHnt liabilltie8a) Financial :iabiltttes

BQrrowing$I Thee parables

Due to micro and small efinrpn$esDue tQ ather$

I Other nnanc al liabilities}} Pravi$#ens;} other current liabiFiye$

Foul curwnt liabilities.}abilities directly associated with asSetS class!$ed as held fcr sa:e

TOTAL EQUITY AND LIABILITIES

3 407.4026.{28.38

3.382 2724.003.68

2$.535.76 27.395.9$

ll.w165.5744641

850121 952a8.21

723.$S 338.66

  156 959 8749g

277 17

211 8415.358.36 !Q.586.54

  615.0046.428.07 3B.936.15

® V2 Retail Limited

The Audit Committee has reviewed these results and the Board of directors have approved the ahoy ©sutts and its release at their respectivemeeting held on 10 May 2019, The statutory auditors have expBssed a quali$ed audit opinion on $nar\ciao statements for the year ended 31 March

Notes

20 ] 92. The above financialIStandards ('lnd AS'} a$Act, 2al3.

esuits have been prepared in accodance with the recognition and measunment p$nciples of the Irtdi&n Accountingotified under the Companies {tndian Accounting Standards} Rules. 201 5 a$ speci$ed under section 133 of the Companies

3. The Company's primary business segment i$ rejected based on principal business activities carried on by the Company. As per Ind AS 108Operating Segments. the Company operates in one reportable business segment i.e.. retail trade and is primarily operating in india and henceconsidered a$ single geographical segment.

4. Figures for the queries ended 31 March 2019 and 31 March 2Q18 are the balancing figures between audited figures for the full financial yearand the reviewed year to date figures unto the third quarter of the nspective finandat yeah5. The Company restructured its business ir} the financial year 2010-1 t resulting in creation of Capital Reserve amounting to Rs, 60.S23:24 lakh.The afonmentioned reserve has been reconciled except for Rs. 365,36 lakh which the Company i$ in the process of reconciling, However. themanagement believes that thee ts no impact of the same on statement of profit and loss

16. Out of contingent liabilities existing as at 31 March 2Q19. certain liabilities aggngating to R$. 2,5't2.37 lakh are under appeal with di$erent8uthodtles at different levels. Whilst the impact of contingent liabilities on the these results can only be ascertained on the settlement of suchcases/disputes, management has assessed that based on the merits of such cases. tile Company has reasonably good chances on succeeding

7. Exceptional hems amounting to Rs. 2,661 .89 lakh for the year ended 31 March 2019 repnsents one time seRtement amount which the Companyhas paid to the lenders for relinquishing their Right of Recompense (RORY for the sacrifices made by them in Financial year 2QIQ-201 I under theCorporate Debt Restructuring {CDR) package vide Master Restructuring Agreement (MRA} entered into in November, 2010.

these financd accordingly been recognised esultshpro

Place: New DelhiDate: 10 May 2019

Khasra No. g19,921 ,926,928, Extended Lal C)ora Abadi Village Kapashera Teshil Vacant bihar.South West Delhi -'t10037 Land Mark:- Furl N Food Village Amusement Park - Tel.: O11..41771850

© V2 Retail Limited

ANNEXURE I

!! QyglifiQgtiQDS {fpr qual! !eDQd with modified o$gbmjlted BIQna with Annual Audited Financial Results

6rt:::ihpBltl.6f dtld:it;qaalifidbtlodg:f6} tfi6 .ti.nqesUl:i?bar Q:nded::34;l.Mat:$1£0't:9:Pell!!ggl41.anon:i$1=/l$21:6f thd ::sEb! {LQb4)::€A.heiidhent);f Rgdbt lons1::2Q IjParticulan 'l'Xiiii

(as reported I (as reported afterbefore adjusting I adjusting for

for I qualifications)ualiHications

.Ejgurq in Rs. Lakh, except I'or }er share data

Turnover /total income

Total expenditure

75.831 .0271 ,664.1 0

75 ,831 .02

Net profit for the71 .664.1 Q

2,a49,29EarningsTotal assets

ier share}ericd 2,049.29

6.02 6.02

Total liabilities 16.892.3146.428.07

L46,428.07

3

16.892.3{

..(31 ,9qlg%Any other financial item (as felt appropriate by themanagements

Net worth '31 ,961 .25.Nil

it qualification beach audit qualification separatel-Detaits of audit qualifications:The audit report of statutory auditors includes following qualifications on the audited financialstatements/results

(i) As stated in Note 5 to the accompanying financial results. the Company's other equity a$at 31 March 2019 includes an amount of Rs. 365.36 lakh in the nature of capital reservearising out of business restructuring carried out in earlier years, for which the Company'smanagement has not been able to provide necessary reconciliation and information. In theabsence of sufficient appropriate audit evidence. we are unable to comment upon theappropriateness and classification of the aforesald balance, and the consequentia! impactf any, on the financial results. This matter was ipso modified in our audit report on thehnancial results for the year ended 31 March 2018

As stated in Note 6 to the accompanying financial results. the Company's contingentabilities as at 31 March 2019 include an amourf{ of Rs. 2.512.37 lakh relating to litigations

pending with vaf thus authorities. for which the Company's management tus not been ableto provide necessary details and information. In the absence of sufficient appropriate auditevidence. we are unable to comment upon the appropriateness and classification of !heaforesaid amounts including management's evaluation of likely outcome of such litigationsn accordance with tnd AS 37. 'Provisions. Contingent Liabilities arid Contingent Assets"and the consequential impact. if any. on the total liabilities and loss as at and for the yearthen ended. This matter was also modified in ow audit report on the financial results forthe year ended 31 March 2018. .,,2,.f /:.giq

Knasra Na 919.92 I .g26.928. Extended Lal Dora Abadi village Kapashera Teshll Vacant #iDbE

South West Delhi 110C37 Land Mark Furl N Faiod Village Amusement Park ' Tel : O11-41%$+$5

b. Type of audit qualification: Qualified Opinion/Disclaimer of Opinion/Adverse Opinion

Qualified opinion

Frequency ifqtla ific "l:

R="'-:"-";--««m ««m «---;-"-d...ss%= =aS'E'Hm$Bwim=Runug\ sss:%,wa,=:},

tManagement's view: not applicable

For audit qualification(s) where the impact i$ not quantified by the auditor:

(i} Management's estimation on the impact of audit qualification

Not quantified

(ii> ff management is unable to estimate the impact, nason$ for the same

The Company restructured its business in the financial year 2010-1 I resuming increation of capital resewe amounting to Rs..60,523.24 !akh. The aforementionedreserve has been reconciled except for Rs. 3es.36 lakh which the Company is inthe process of reconciling. However. the management believes that ttlere is nompact of the same on statement of profit and loss

b) Out of contingent liabilities existing as at 31 March 2019, certain liabilitiesaggregating to Rs. 2.512.37 lakh are under appeal with different authorities at

di#erent levels. Whilst the impact of contingent liabilities on these results can onlybe ascertained on the settlement of such cases/disputes. management hasbroadly assessed that based on the merits of such cases. the Company hasreasonably good chances on succeeding and accordingly. no provision has beenrecognised in these ninanci81 results

(iii) Auditor's comments on (i) and (ii) above

Sincecations inmentacouor's fond n the impact. the auditors have given

111 Signatories

Yours SincerelyFor V2 Retail Limited

:$«,1"Q '"-

bR;l$RW..\

hFor Walker Chandlok & co LLPChartered AccountantsFirm Registration No.: 001076N/N5000i 3

.4-. ««' #'\...[«. , !..1 {

Mr. Vipin KaushikChief Fbancial Officer

Mr. Lalan YadavAudit Committee Chairman

., },,.,..£ .

.J

/

£:F£:::: ~.. ..$&@#

Place: New DelhiDate: fO May 2019