General information about company
Scrip code	530907
Name of company	S.I.CAPITAL & FINANCIAL SERVICES LIMITED
Result Type	Main Format
Class of security	Equity
Date of start of financial year	01-04-2015
Date of end of financial year	31-03-2016
Date of board meeting when results were approved	27-05-2016
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	19-05-2016
Description of presentation currency	INR
Level of rounding used in financial results	Actual
Reporting Quarter	Yearly
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited	Audited
Segment Reporting	Single segment
Description of single segment	NON BANKING FINANCE

Quarterly & Half Yearly Financial Result by Companies Other than Banks
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
B	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
C	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
	Part I
1	Revenue From Operations
	Net sales or Revenue from Operations	194272	664422	602680	1518137.79	1915697.47	1915697.47
	Other operating revenues	0	0	0	0	0	0
	Total Revenue from operations (net)	194272	664422	602680	1518137.79	1915697.47	1915697.47
2	Expenses
(a)	Cost of materials consumed	0	0	0	0	0	0
(b)	Purchases of stock-in-trade	0	0	0	0	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0	0	0	0	0
(d)	Employee benefit expense	354468	334592	422769	1227846.94	1159511	1159511
(e)	Depreciation and amortisation expense	103913	34259	87446	207815.81	325646.22	325646.22
(f)	Other Expenses
1	Other Expenditure	2999155	387355	528414	4055200.58	1523634.37	1523634.37
2	Provisions and Contingencies	4591.31	0	15019	4591.31	15019.41	15019.41
3	Managerial Remuneration	30000	30000	0	120000	0	0
	Total other expenses	3033746.31	417355	543433	4179791.89	1538653.78	1538653.78
	Total expenses	3492127.31	786206	1053648	5615454.64	3023811	3023811

Quarterly & Half Yearly Financial Result by Companies Other than Banks
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
B	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
C	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
	Part I
3	Profit (loss) from operations before other income, finance costs and exceptional items	-3297855.31	-121784	-450968	-4097316.85	-1108113.53	-1108113.53
4	Other income	92911	147905	809845	822980.84	1060189.29	1060189.29
5	Profit (loss) from ordinary activates before finance costs and exceptional items	-3204944.31	26121	358877	-3274336.01	-47924.24	-47924.24
6	Finance costs	28589	1828	13716	38323.56	26212.29	26212.29
7	Profit (loss) from ordinary activities after finance costs but before exceptional items	-3233533.31	24293	345161	-3312659.57	-74136.53	-74136.53
8	Prior period items before tax	0	0	0	0	0	0
9	Exceptional items	-947195	0	0	-947195	0	0
10	Profit (loss) from ordinary activities before tax	-4180728.31	24293	345161	-4259854.57	-74136.53	-74136.53
11	Tax Expense	18949	0	7517	18949	7517	7517
12	Net profit (loss) from ordinary activities after tax	-4199677.31	24293	337644	-4278803.57	-81653.53	-81653.53
13	Extraordinary items	0	0	0	0	0	0
14	Net Profit Loss for the period from continuing operations	-4199677.31	24293	337644	-4278803.57	-81653.53	-81653.53
15	Profit (loss) from discontinuing operations before tax	0	0	0	0	0	0
16	Tax expense of discontinuing operations	0	0	0	0	0	0
17	Net profit (loss) from discontinuing operation after tax	0	0	0	0	0	0
18	Profit (loss) for period before minority interest	-4199677.31	24293	337644	-4278803.57	-81653.53	-81653.53
21	Net Profit (loss) after taxes minority interest and share of profit (loss) of associates	-4199677.31	24293	337644	-4278803.57	-81653.53	-81653.53

Quarterly & Half Yearly Financial Result by Companies Other than Banks
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
B	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
C	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
	Part I
22	Details of equity share capital
	Paid-up equity share capital	30000000	30000000	30000000	30000000	30000000	30000000
	Face value of equity share capital	10	10	10	10	10	10
23	Details of debt securities
24	Reserves excluding revaluation reserve	0	0	0	0	0	0
26	Earnings per share
i	Earnings per share before extraordinary items
	Basic earnings per share before extraordinary items	-1.39	0.001	0.11	-1.43	-0.03	-0.03
	Diluted earnings per share before extraordinary items	-1.39	0.001	0.11	-1.43	-0.03	-0.03
ii	Earnings per share after extraordinary items
	Basic earnings per share after extraordinary items	-1.39	0.001	0.11	-1.43	-0.03	-0.03
	Diluted earnings per share after extraordinary items	-1.39	0.001	0.11	-1.43	-0.03	-0.03
30	Disclosure of notes on financial results	Textual Information(1)

Text Block

Textual Information(1)

S.I. CAPITAL & FINANCIAL SERVICES LIMITED

Note: 21 - Notes forming part of the financial statements for the year ended 31st March 2016

1. CORPORATE INFORMATION

SI Capital & Financial Services Limited is a public company incorporated in the State of Tamilnadu, India and regulated by the Reserve Bank of India as money changer company, Non Banking Finance Company (NBFC).

The company has been engaged mainly in the following businesses:

a. Money Changer

b. Long/Medium Term Loans

c. Lease Finance

d. Hire Purchase and dealing in stocks and securities

2. SIGNIFICANT ACCOUNTING POLICIES

a. Basis of Preparation

The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards specified under section 133 of the Companies Act, 2013. read with Rule 7 of the Companies (Accounts) Rules, 2014 and relevant provisions of the Companies Act, 2013 ("the Act"), and guidelines issued by the Securities and Exchange Board of India (SEBI) / RBI. as applicable. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year.

b. Inter Branch Transfers

Inter Branch Transfers of currency are at cost.

c. Valuation of Inventories

Currencies in stock are valued at cost.

d. Use of Estimates

The preparation of financial statements requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) as of the date of the financial statements and the reported income and expenses during the reporting period like provision for employee benefit provisioning for receivables, provision for credit enhancement for assets de-recognised, net realizable value of repossessed assets, useful lives of fixed assets. Management believes that the estimates used in the preparation of the financial statements are prudent and reasonable. Future results may vary from these estimates.

e. Provision, Contingencies Liabilities & Assets

Provisions are recognised only when the Company has present or legal or constructive obligations as a result of past events, for which it is probable that an outflow of economic benefit will be required to settle the transaction and a reliable estimate can be made for the amount of the obligation. Contingent liability is disclosed for (i) Possible obligations which will be confirmed only by future events not wholly within the control of the Company or (ii) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made. Contingent assets are not recognised in the financial statements.

A contingent provision against standard assets has been created at 0.25% of the outstanding standard assets in terms of the RBI circular Ref. No.DNBS(PD) CC No.225/03.02.001/ 2011-12 dated July 1,2011.

f. Fixed Assets and Depreciation

I. Fixed Assets :

Tangible fixed assets acquired by the company are reported at acquisition cost, with deductions for accumulated depreciation and impairment losses, if any.

The acquisition value includes the purchase price to the asset to bring it to the site and in the working condition for its indend use.

II. Depreciation

Depreciable amount for assets is the cost of an asset, or other amount substituted for cost less its estimated residual value.

Depreciation on tangible fixed assets is provided using the written down value method in accordance with the useful life prescribed is Schedule II to the Companies Act, 2013.

g. Investments

Investments which are readily realisable and intended to be held for not more than one year from the date on which such investments are made are classified as current investments in accordance with the RBI guidelines and Accounting Standard 13 on "Accounting for investments' as notified under the Companies (Accounting Standards) (Amendment) Rules, 2011. Current investments also include current maturities of long-term investments.

Non Current Investments

Long term investments are stated at cost. Provision for diminution is made to recognize a diminution, other than temporary, in the value of such investments.

Current Investments :

Current investments are stated at the lower of cost and the market value, determined on an individual investment basis.

h. Loans

In accordance with the RBI guidelines, all loans are classified under any of four categories i.e (i) standard assets (ii) sub-standard assets (iii) doubtful assets and (iv) loss assets.

i. Revenue Recognition

Interest on loans and advances are recognised on accrual basis. In respect of loans under litigation, it is the company's policy to recognise interest on realisation basis.

j. Retirement Benefits

Contribution to Provident Fund is funded as a percentage of salary. Adequate provisions have been made in the accounts for the liability for Gratuity of employees.

k. Impairment of Assets

The company assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, the company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the assets belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognized in the profit and loss account. If at the balance sheet date, there is an indication that if a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciated historical cost.

l. Cash and Cash Equivalents

Cash and Cash Equivalents for the purpose of the cash flow statement comprises of cash on hand, cash in bank, fixed deposits and other short term highly liquid investments with an original maturity of three months or less, that are readily convertible into known amount of cash and which are subject to an insignificant risk of exchange in value.

m. Cash Flow Statement

Cash Flows are reported using the indirect method whereby cash flows from operating, investing and financing activities of the Group are segregated and profit before tax is adjusted for the effects of transactions of non - cash nature and any deferrals or accruals of past or future cash receipts or payments.

Sub classification of income and expenses
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
1	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
2	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
3	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
4	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
Subclassification of income and expenses
1	Disclosure of revenue from operations
	Revenue from sale of products
	Revenue from sale of services	166848	163215	68845	715806.1	637771.91	637771.91
	Revenue from interest (NBFC)	27424	501207	533835	802331.69	1277925.56	1277925.56
	Revenue from other financial services (NBFC)

	Less: Excise duty
	Less: Service tax collected
	Less: Other duties taxes collected
	Net sales or Revenue from Operations	194272	664422	602680	1518137.79	1915697.47	1915697.47
2	Disclosure of other operating revenues
	Other operating revenues
	Net gain/loss on foreign currency fluctuations treated as other operating revenue
	Miscellaneous other operating revenues
	Total other operating revenues
3	Changes in inventories of finished goods, work-in-progress and stock-in-trade [Abstract]
	Changes in inventories of finished goods	0	0	0	0	0	0
	Changes in inventories of work-in-progress
	Changes in inventories of stock-in-trade
	Changes in other inventories
	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0	0	0	0	0

Sub classification of income and expenses
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
1	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
2	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
3	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
4	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
Subclassification of income and expenses
4	Employee benefit expense [Abstract]
	Salaries and wages	313040	318772	282792	1102800	949060	949060
	Contribution to provident and other funds
	Contribution to provident and other funds for contract labour
	Contribution to provident and other funds for others	12570	12570	10288	50280	41155	41155
	Total contribution to provident and other funds	12570	12570	10288	50280	41155	41155
	Expense on employee stock option scheme and employee stock purchase plan
	Commission employees
	Employee medical insurance expenses
	Leave encashment expenses
	Gratuity	21808	0	124079	21808	124079	124079
	Pension schemes
	Voluntary retirement compensation
	Other retirement benefits
	Staff welfare expense	7050	3250	5610	13338.94	16867	16867
	Other employee related expenses	0	0	0	39620	28350	28350
	Total employee benefit expense	354468	334592	422769	1227846.94	1159511	1159511
5	Depreciation and amortisation expense
	Depreciation expense	103913	34259	87446	207815.81	325646.22	325646.22
	Amortisation expense
	Total depreciation and amortisation expense	103913	34259	87446	207815.81	325646.22	325646.22

Sub classification of income and expenses
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
1	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
2	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
3	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
4	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
Subclassification of income and expenses
6	Breakup of other expenses [Abstract]
1	Consumption of stores and spare parts
2	Power and fuel
3	Rent	53282	49308	49308	201206	197232	197232
4	Repairs to building
5	Repairs to machinery
6	Insurance	1979	5726	22344	7705	27400	27400
7	Rates and taxes excluding taxes on income
	Central excise duty
	Purchase tax
	Other cess taxes	10168	0	6739	10168	6739	6739
	Cost taxes other levies by government local authorities
	Provision wealth tax
	Total rates and taxes excluding taxes on income	10168	0	6739	10168	6739	6739
8	Research development expenditure
9	Subscriptions membership fees
10	Electricity expenses	9775	7866	32923	51284	63003	63003
11	Telephone postage	599	26962	20865	63136.06	58338	58338
12	Printing stationery	7828.58	5242	0	22805.1	19966.22	19966.22
13	Information technology expenses
14	Travelling conveyance	10341	35594	142996.72	56235	233412.5	233412.5
15	Catering canteen expenses
16	Entertainment expenses
17	Legal professional charges	24895	55500	4761	252895	88067	88067
18	Training recruitment expenses
19	Vehicle running expenses	15020	0	7895	25020	86673	86673
20	Safety security expenses
21	Directors sitting fees	4000	4000	8000	17000	25000	25000
22	Managerial remuneration
	Remuneration to directors
	Salary to directors	30000	30000	0	120000	0	0
	Commission to directors
	Other benefits to directors
	Total remuneration to directors	30000	30000	0	120000	0	0
	Remuneration to managers
	Salary to managers
	Commission to managers
	Other benefits to managers
	Total remuneration to managers
	Total managerial remuneration	30000	30000	0	120000	0	0
23	Donations subscriptions
24	Books periodicals
25	Seminars conference expenses
26	Registration filing fees	58581	81380	3885	269120	134160	134160
27	Custodial fees
28	Bank charges
29	Guest house expenses
30	Advertising promotional expenses
31	After sales service expenses
32	Warranty claim expenses
33	Commission paid sole selling agents
34	Commission paid other selling agents
35	Commission paid sole buying agents
36	Transportation distribution expenses
37	Secondary packing expenses
38	Discounting charges
39	Guarantee commission
40	Cost repairs maintenance other assets	55283	7088	25774.63	140488	77407	77407
41	Cost information technology
	Cost software
	Cost hardware
	Cost communication connectivity
	Total cost information technology
42	Cost transportation
	Cost freight
	Cost octroi
	Cost loading and unloading
	Cost other transporting
	Total cost transportation
43	Cost lease rentals
44	Cost effluent disposal
45	Provision for cost of restoration
46	Cost warehousing
47	Cost water charges
48	Cost reimbursable expenses
49	Cost technical services
50	Cost royalty
51	Provision bad doubtful debts created	4591.31	0	15019	4591.31	15019.41	15019.41
52	Provision bad doubtful loans advances created
53	Adjustments to carrying amounts of investments
	Provision diminution value current investments created
	Provision diminution value long-term investments created
	Total adjustments to carrying amounts of investments
54	Net provisions charged
	Provision warranty claims created
	Provision statutory liabilities created
	Provision restructuring created
	Other provisions created
	Total net provisions charged
55	Discount issue shares debentures written off
	Discount issue shares written off
	Discount issue debentures written off
	Total discount issue shares debentures written off
56	Write-off assets liabilities
	Miscellaneous expenditure written off
	Financing charges written off
	Voluntary retirement compensation written off
	Technical know-how written off
	Other miscellaneous expenditure written off
	Total miscellaneous expenditure written off
	Fixed assets written off
	Inventories written off
	Investments written off
	Bad debts written off	2517975.16	0	0	2517975.16	0	0
	Bad debts advances written off
	Other assets written off
	Liabilities written off
	Total write-off assets liabilities	2517975.16	0	0	2517975.16	0	0
57	Loss on disposal of intangible asset
58	Loss on disposal, discard, demolishment and destruction of depreciable tangible asset	78541.21	0	73368.65	78541.21	234596.65	234596.65
59	Contract cost
	Site labour supervision cost contracts
	Material cost contract
	Depreciation assets contracts
	Cost transportation assets contracts
	Hire charges assets contracts
	Cost design technical assistance contracts
	Warranty cost contracts
	Other claims contracts
	Sale material scrap other assets contracts
	Overhead costs apportioned contracts
	Insurance cost apportioned contract
	Design technical assistance apportioned contracts
	Other overheads apportioned contracts
	Total overhead costs apportioned contracts
	Total contract cost
60	Cost dry wells
61	Operating and maintenance cost of emission and other pollution reduction equipments
62	Payments to auditor
	Payment for audit services
	Payment for taxation matters	85875	0	84270	85875	84270	84270
	Payment for company law matters
	Payment for management services
	Payment for other services
	Payment for reimbursement of expenses
	Total payments to auditor	85875	0	84270	85875	84270	84270
63	Payments to cost auditor
	Payment for cost audit charges
	Payment for cost compliance report
	Payment for other cost services
	Payment to cost auditor for reimbursement of expenses
	Total payments to cost auditor
64	Miscellaneous expenses	65012.05	108689	45284	255747.05	187370	187370
	Total other expenses	3033746.31	417355	543433	4179791.89	1538653.78	1538653.78

Sub classification of income and expenses
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
1	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
2	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
3	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
4	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
Subclassification of income and expenses
7	Disclosure of other income
(a)	Interest income
	Interest income on current investments
	Interest on fixed deposits, current investments	84131	7705	32518	127836	69772	69772
	Interest from customers on amounts overdue, current investments
	Interest on current intercorporate deposits
	Interest on current debt securities
	Interest on current government securities
	Interest on other current investments
	Total interest income on current investments	84131	7705	32518	127836	69772	69772
	Interest income on long-term investments
	Interest on fixed deposits, long-term investments
	Interest from customers on amounts overdue, long-term investments
	Interest on long-term intercorporate deposits
	Interest on long-term debt securities
	Interest on long-term government securities
	Interest on other long-term investments
	Total interest income on long-term investments
	Total interest income	84131	7705	32518	127836	69772	69772
(b)	Dividend income
	Dividend income current investments
	Dividend income current investments from subsidiaries
	Dividend income current equity securities	0	0	0	7729	6377.5	6377.5
	Dividend income current mutual funds
	Dividend income current investments from others
	Total dividend income current investments	0	0	0	7729	6377.5	6377.5
	Dividend income long-term investments
	Dividend income long-term investments from subsidiaries
	Dividend income long-term equity securities
	Dividend income long-term mutual funds
	Dividend income long-term investments from others
	Total dividend income long-term investments
	Total dividend income	0	0	0	7729	6377.5	6377.5
(C)	Net gain/loss on sale of investments
	Net gain/loss on sale of current investments	8780	140200	777327	686482.84	984039.79	984039.79
	Net gain/loss on sale of long-term investments
	Total net gain/loss on sale of investments	8780	140200	777327	686482.84	984039.79	984039.79
(d)	Rental income on investment property
	Rental income on investment property, current
	Rental income on investment property, long-term
	Total rental income on investment property
(e)	Other non-operating income
	Net gain/loss on foreign currency fluctuations treated as other income
	Surplus on disposal, discard, demolishment and destruction of depreciable tangible asset
	Gain on disposal of intangible asset
	Amount credited to profit and loss as transfer from revaluation reserve on account of additional depreciation charged on revalued tangible assets
	Excess provision diminution in value investment written back
	Excess provisions bad doubtful debts advances written back
	Income government grants subsidies
	Income export incentives
	Income import entitlements
	Income insurance claims
	Income from subsidiaries
	Interest and income tax refund	0	0	0	933	0	0
	Income on brokerage commission
	Income on sales tax benefit
	Excess provisions written back
	Other allowances deduction other income
	Miscellaneous other non-operating income	0	0	0	0	0	0
	Total other non-operating income	0	0	0	933	0	0
	Income from pipeline transportation
	Total other income	92911	147905	809845	822980.84	1060189.29	1060189.29

Sub classification of income and expenses
Particulars		3 months ended (dd-mm-yyyy)	Previous 3 months ended (dd-mm-yyyy)	Corresponding 3 months ended in the previous year (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)	Year to date figures for previous period ended (dd-mm-yyyy)	Previous accounting year ended (dd-mm-yyyy)
1	Date of start of reporting period	01-01-2016	01-10-2015	01-01-2015	01-04-2015	01-04-2014	01-04-2014
2	Date of end of reporting period	31-03-2016	31-12-2015	31-03-2015	31-03-2016	31-03-2015	31-03-2015
3	Whether results are audited or unaudited	Audited	Unaudited	Audited	Audited	Audited	Audited
4	Nature of report standalone or consolidated	Standalone	Standalone	Standalone	Standalone	Standalone	Standalone
Subclassification of income and expenses
8	Disclosure of finance cost
	Interest expense
	Interest expense long-term loans
	Interest expense long-term loans, banks
	Interest expense long-term loans, others
	Total interest expense long-term loans
	Interest expense short-term loans
	Interest expense short-term loans, banks
	Interest expense short-term loans, others
	Total interest expense short-term loans
	Interest expense deposits
	Interest expense debt securities
	Interest expense other borrowings
	Interest expense borrowings
	Interest lease financing
	Other interest charges	28589	1828	13716	38323.56	26212.29	26212.29
	Total interest expense	28589	1828	13716	38323.56	26212.29	26212.29
	Other borrowing costs
	Net gain/loss on foreign currency transactions and translations treated as finance costs
	Total finance costs	28589	1828	13716	38323.56	26212.29	26212.29
	Disclosure of notes on income and expense explanatory	Textual Information(1)

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Textual Information(1)

B. NOTES TO ACCOUNTS:

14. Land shown in fixed assets is at Thevara, Cochin is on co-ownership basis with M/s. Green Meadows.

15. The balance in various accounts in current / non current liabilities are subject to confirmation and reconciliation. They have been shown as per values appearing in the books of accounts.

16. Current / Non Current Loans and Advances are subject to confirmation.The secured loans are sufficiently covered by securities.

17. Related Parties disclousre as per Accounting Standard 18:

a) List of Parties - Directors, Group concerns and Associates.

i) Southern Warehousing Company Pvt Ltd

ii) Mary Rodrigues

b) Related Party Transactions:

Related Party Transactions	31.03.2016	31.03.2015
i) Salary paid to Mrs. Mary Rodrigues	120000	NIL
ii) ii) Rent Paid to Mrs. Mary Rodrigues	78000	78000

Name of the Associate Concerns	Amount o/s as on 31.03.2016	Maximum amount of transaction during the year	Amount o/s as on 31.03.2015	Maximum amount of transaction during the year
i) Southern Warehousing Company Pvt Ltd.,	Nil	441,396.00	429,440.26	1,345,000.00
(Hire Purchase Loan)

18. Segment Reporting:

The Principal business of the company is dealing in foreign currency. Though the company has earned income from other sources in the form of dividend on investments, interest and profit on redemption of mutual funds, the percentage of other business income does not exceed 10% of the gross turnover of the principal business, and as such no segment reporting has been made.

19. Earning per Share:

Basic and Diluted	31.03.2016	31.03.2015
Weighted Average No. of Shares outstanding (Nos.)	3,000,000.00	3,000,000.00
Net Profit / (Loss) in Rupees	(4,278,803.57)	(81,653.53)
Earning Per Share	(1.43)	(0.03)
Nominal value of Share	Rs. 10/-	Rs. 10/-

20. Taxation

Income Tax:

As the taxable income for the year gets adjusted against brought forward losses of earlier years, there is no tax liability during the current year.

Deferred Tax:

The deferred tax for timing differences is accounted for using the tax rates and laws that have been substantively enacted as of the balance sheet date. Deferred tax asset arising from timing differences are recongnised to the extent there is reasonable certainity that these would be realised in future. Consequently, Deferred tax asset on business loss carried forward has not been created.

Deferred Tax Asset

Opening Balance	.	.	787,645.14
Deferred Tax for the year	.	.	.
Depreciation as per Companies Act	207,815.81	.	.
Depreciation as per Income Tax Act	212,331.20	.	.
Timing Difference	4,515.39	.	.
Deferred Tax Liability for the year @ 30.90% on the above	.	1,395.00	.
Provision for Bonus	35,000.00	.	.
Provision for Gratuity	21,808.00	.	.
.	56,808.00	.	.
Deferred Tax Liability for the year @ 30.90% on the above	.	17,554.00	.
Current year Deferred Tax Liability debited to P&L a/c	.	.	18,949.00
Net Deferred Tax Asset shown in the Balance Sheet	.	.	768,696.14

21. Income from Forex Business Rs.7,15,806.10 has been arrived at as follows.

Income from Forex Business:	31.03.2016	31.03.2015
Sales of Currencies & Travellers Cheque	84,311,568.93	69,209,967.31
Less: Purchase of Currencies & Travellers Cheques, Service Charges paid	83,586,742.88	68,581,597.57
Sub Total - (a)	724,826.05	628,369.74
Add: Increase / ( Decrease) in Stock
Closing Stock	4,881.36	13,901.31
Less: Opening Stock	13,901.31	4,499.14
Sub Total - (b)	(9,019.95)	9,402.17
TOTAL (a+b)	715,806.10	637,771.91

22.

Managerial Sitting fee	31.03.2016	31.03.2015
Directors' Sitting fee	17,000.00	25,000.00

23.

Auditor's Remuneration:	31.03.2016	31.03.2015
As Audit fee	55,000.00	55,000.00
As Tax audit fee including service tax	30,875.00	29,270.00
Total	85,875.00	84,270.00

24. The company has created a Special Reserve (20% of Profit) under section 45-IC of the RBI Act,1934 wherever applicable.

25. The Schedule to the Balance Sheet of a non-banking financial company [as required in terms of paragraph 13 of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank), Directions, 2007] is annexed.

26. Trade receivable written off

Bad debts represents amount of Rs.25.18 lakhs due from customers towards sale of currencies in earlier years. The directors have confirmed that inspite of best efforts taken by the company, there are no chances of recovery of these dues. Hence, the directors have decided to write off the same.

27. Unquoated investments

As there is no trade value for the investments in unquoated shares held by the company, the board decided to write off the same.

28 Prior year Comparatives

Previous years figures have been regrouped / reclassifed wherever necessary to correspond with the current years classifications / disclosures.

Statement of Asset and Liabilities
Particulars		Current year ended (dd-mm-yyyy)	Previous year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2015	01-04-2014
Date of end of reporting period		31-03-2016	31-03-2015
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
	Equity and liabilities
1	Shareholders' funds
	Share capital	30000000	30000000
	Reserves and surplus	-7453850.46	-3188087.26
	Money received against share warrants	0	0
	Total shareholders' funds	22546149.54	26811912.74
2	Share application money pending allotment	0	0
3	Deferred government grants	0	0
5	Non-current liabilities
	Long-term borrowings	0	0
	Deferred tax liabilities (net)	0	0
	Foreign currency monetary item translation difference liability account	0	0
	Other long-term liabilities	0	0
	Long-term provisions	394257.13	367857.82
	Total non-current liabilities	394257.13	367857.82
6	Current liabilities
	Short-term borrowings	0	0
	Trade payables	0	0
	Other current liabilities	0	8323
	Short-term provisions	192566	134752
	Total current liabilities	192566	143075
	Total equity and liabilities	23132972.67	27322845.56
	Assets
1	Non-current assets
(i)	Fixed assets
	Tangible assets	7794827.08	7432593.73
	Producing properties	0	0
	Intangible assets	0	0
	Preproducing properties	0	0
	Tangible assets capital work-in-progress	0	0
	Intangible assets under development or work-in-progress	0	0
	Total fixed assets	7794827.08	7432593.73

Statement of Asset and Liabilities
Particulars		Current year ended (dd-mm-yyyy)	Previous year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2015	01-04-2014
Date of end of reporting period		31-03-2016	31-03-2015
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
(ii)	Non-current investments	101000	1048195
(v)	Deferred tax assets (net)	768696.14	787645.14
(vi)	Foreign currency monetary item translation difference asset account	0	0
(vii)	Long-term loans and advances	81059	81059
(viii)	Other non-current assets	0	0
	Total non-current assets	8745582.22	9349492.87
	Current assets
	Current investments	9215493.11	7066712.7
	Inventories	4881.36	13901.31
	Trade receivables	0	2517975.16
	Cash and bank balances	2894621.79	1752562.52
	Short-term loans and advances	2170521.19	6315681
	Other current assets	101873	306520
	Total current assets	14387390.45	17973352.69
	Total assets	23132972.67	27322845.56
	Disclosure of notes on assets and liabilities

General information about company

Quarterly & Half Yearly Financial Result by Companies Other than Banks

Quarterly & Half Yearly Financial Result by Companies Other than Banks

Quarterly & Half Yearly Financial Result by Companies Other than Banks

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Sub classification of income and expenses

Sub classification of income and expenses

Sub classification of income and expenses

Sub classification of income and expenses

Sub classification of income and expenses

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Statement of Asset and Liabilities

Statement of Asset and Liabilities