ESAAR (INDIA) LIMITED

CIN: L67120MH1951PLC222871

Regd. Off: B-411, Crystal Plaza, Opp. Infinity

Tel No.: 022-6060567'7 - Email

Id:

Mall,

Ncw Link Road, Andheri (West), Mumini-

esaa ndialtd@smail.com

Website; www.esaarindia.com

Date: 28/05/2016
To,
The Bombay Stock Exchange Ltd

Corporate Relationship Dept,

1st Floor, New Trading Ring,
Rotunda Building, P. J. Towers,
Dalai Street, Fort, Mumbai 400 001
BSE Scrip Code: 531502
Sub: Outcome of Board Meeting
Dear Sir,

This is to inform you that the BM/02/2016-2017 meeting of the Board of Directors of the
company was held on Saturday, 28th May, 2016 at the Registered Office of the Company at
B/411, Crystal Plaza, New Link Road, Opp. Infinity Mall, Andheri (West), Mumbai 400 053 at
04:30 P.M and the Board approved the following:
1. Audited Financial Results for the quarter and year ended 31.03.2016 along with
Auditors' Report and Notes forming parts to accounts
2. Resignation of Ms. Sunita Zanj from the post of Chief Financial Officer of the
company
3. Took the note on Compliance done as per LODR, Regulation 2015 for the quarter
ended 31.03.2016
Kindly acknowledge the Receipt.
Thanking You
Yours Faithfully

For Esaar (India) Limited

.0\1
ANIvr'

hushboo Jain
(Company Secretary)

End: a/a

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Essar_ March16_HTML Report.html

General information about company

Scrip code

531502

Name of company

Esaar (India) 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

28-05-2016

Date on which prior intimation of the meeting for considering financial results was infbrmed to the exchange

18-05-2016

Description of presentation currency

INR

Level of rounding used in financial results

Lakhs

Reporting Quarter

Yearly

Nature of report standalone or consolidated

Standalone

Whether results are audited or unaudited

Audited

Segment Reporting

Multi segment

Description of single segment

For ESAAR

(INDIA) 1.1.N:!7-7..L.
C a-\

Director lAuthc;seci Signat

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Quarterly & Half Yearly Financial Result by Companies Other

3 months
ended (ddmm- YYYY)

Particulars

Previous 3
months
ended (ddmm -YYYY)

Corresponding 3
Year to date
months ended in the figures for current
previous year \cid- period ended (ddmm - YYYY)
mm- YYYY)

than Banks
Year to date
figures for
previous period
ended (dd-mm-

Previous
accounting
year ended
(dd-mm-

YYYY)

YYYY)

Date of start of
reporting period

01-012016

01-10-2015

01-01-2015

01-04-2015

01-04-2014

01-04-2014

I3

Date of end of reporting

period

31-032016

31-12-2015

31-03-2015

31-03-2016

31-03-2015

31-03-2015

Whether results are

audited or unaudited

Audited

Unaudited

Audited

Audited

Audited

Audited

Standalone

Standalone

Standalone

Standalone

Standalone

120.616

254.9

120.07

408.770

871.49

871.49

Nature of report
I)

standalone or Standalone
consolidated
Part I

Revenue From Operations

Net sales or Revenue
from Operations
Other operating

revenues
Total Revenue from

operations (net)
2
(a)

120.616

254.9

408.776

126.07

871.49

871.49

Expenses
Cost of materials

consumed

(b)

Purchases of stock-intrade

147.242

58.74

360.302

24.11

24.11

(c)

Changes in inventories
of finished goods,
work-in-progress and
stock-in-trade

8 . 095

18.73

477.27

57.135

1132.29

1132.29

2.15

1.97

10.411

11.18

1 1.18

-0.12

-0.07

_0.07

(d)

(c)

Employee benefit

expense
Depreciation and
amortisation expense

(t)

Other Expenses

Other Expenses

Provision

3.39 1
-

5.474

5.45

58.83

14.862

14.87

14.87

168.26

172.144

Total other expenses

173.734

5.45

58.83

187.006

14.87

14.87

Total expenses

332.462

85.07

537.95

614.854

1182.38

1182.38

For E

AR INDIA) LIM 1 '

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Quarterly &

Half Yearly Financial Result by Companies Other than Banks

3 months ended (dd-

l'aetienlars

mm -YYYY)

Previous 3
months
ended (ddmm-yyyy)

Year to date
figures for
current period
ended (dd-

Year to date
figures for
previous
period ended

mm-yyyy)

(dd-mm-yyyy)

01-01-2015

01-04-2015

01-04-2014

31-03-2015

31-03-2016

31-03-2015

Corresponding 3
months ended in
the previous
year (dd-mm;

Date of start of reporting

period

Date of end of reporting

period

01-102015

01-01-2016

31-12-

31 - 03 -2016

2015

Previous
accounting
year ended
(dd-mmyyyy )
01-042014

31-032015

__U_1

Whether results are audited

or unaudited

Audited

Unaudited

Audited

Audited

Audited

Audited

Nature of report
standalone or consolidated

Standalone

Standalone

Standalone

Standalone

Standalone

Standalone

Part 1

Profit (loss) from

operations before other
income, finance costs and
exceptional items
Other income
Profit (loss) from
ordinary activates before
finance costs and
exceptional items
Finance costs
Profit (loss) front
ordinary activities after
finance costs but before
exceptional items

-211.846

169.83

-411.88

-206.078

-310.89

-310.89

2.30000000000001002

2.10264

-211.823

169 83

-411.88

-203.975

-310.89

-310.89

18.242

18.73

68 57171

93.96

93.96

-230.065

151.1

-411.88

-272.547

-404.85

-404.85

Prior period items before

tax

Exceptional items

-230.065

151.1

-411.88

-272.547

-404.85

-404.85

1.373

0.75313

-231.438

151.1

-411.88

-273.3

-404.85

-404.85

-231.438

151.1

-411.88

- )73_3

-404.85

- 404.85

10

Profit (loss) from

ordinary activities before
tax

11 Tax Expense
12

13

14

Net profit (loss) from

ordinary activities after
tax
Extraordinary items
Net Profit Loss for the
period from continuing
operations
Profit (loss) from

15 discontinuing operations
before tax
16

Tax expense of
"
discontinuing operations

17

Net profit (loss) from

discontinuing operation
after tax

18

Profit (loss) for period

before minority interest

-231.438

151 1

-111.88

-273.3

-404.85

-404.85

/1

Net Profit (loss) after

taxes minority interest
and share of profit (loss)
of associates

-231.438

151 1

-411.88

-273.3

-404.85

-404.85

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5/28/2016

Quarterly & Half Yearly Financial Result by Companies Other than Banks
3 months

Particulars

ended (dd
mm-yyyy)

Previous 3
months
ended (ddmm-yyyy)

Corresponding 3
months ended in the
previous year (ddmm-yyyy)

Year to date figures

for current period
ended (dd-mmYYYY)

Year to date figures

for previous period
ended (dd-mmvyyy)

Previous
accounting
year ended
(dd-mm-yyyy)

01 10 2015

01 01 2015

01 04 2015

01 04 2014

01 04 2014

Date of start of
reporting period

01-01-

Date of end of
reporting period

31-C32016

31-12-2015

31-03-2015

31 03 2016

31 03 2015

31-03-2015

Whether results
are audited or

Audited

Unaudited

Audited

Audited

Audited

Audited

Standalone

Standalone

Standalone

Standalone

Standalone

2016

unaudited

Nature of report
standalone or Standalone
consolidated

Part I
22 Details of equity share capital
Paid-up equity
share capital

2044.25

2044.25

2044.25

2011. 1 5

2044.25

-540.585

-5-10 5s5

-267.29

-267 29

Basic earnings
per share before
extraordinary
items

-0.113

-0.01

-0.2

-0 134

-0. 7

-0)

Diluted earnings
per share before
extraordinary
items

0.113

-0.01

-0.2

-0 134

-0.2

-0.2

-0.01

-0.2

0.134

-0.2

-0.2

-0.01

-0.2

0.134

-0.2

-0. ,

Face value of
equity share
capital

2044.25

23 Details of debt securities

24

Reserves
excluding
revaluation

reserve
26 Earnings per share
Earnings per
share before
extraordinary
items

ii

Earnings per shat c after extraordinary items

Basic earnings
per share after
extraordinary
items

r
"7

Diluted earnings
per share after
extraordinary
items
Disclosure of
30 notes on

Textual Information(1)

financial results

For ESA" . 7. (INDIA)

''

airector I Authorise,: ..,..notory

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Text Block
1. The above Financial Results for the quarter and year ended 31st March, 2016 have been reviewed
by the Audit Committee and approved by the Board of Directors at its Meeting held on 28th May,
2016 and Audited by the Statutory Auditors.
2. The figure for the previous quarter/year have been re-grouped/re-classified/re-stated wherever
necessary.
Textual Information(1)

3. Invester Complaint for the quarter ended 31.03.2016. Opening - 0, Received- 0, Resolved- 0,

Closing- 0.

4. The result is available on the website www.esaarindia.com

5. We hereby declare that the Auditor has audited the Financial Result and provided the audit report
with Modified opinion.

AAR (Its' do%) LIM1T

Director I kuthorised

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Statement of Asset and Liabilities

Current year ended (dd-mmYYYY)

Previous year ended (dd-mm-

Date of start of reporting period

01-04-2015

01-04-2014

Date of end of reporting period

31-03-2016

31-03-2015

Particulars

Whether results are audited or unaudited

Nature of report standalone or consolidated

YYYY)

Audited

Audited

Standalone

Standalone

Equity and liabilities

1

Shareholders' funds
Share capital

Reserves and surplus

2044.25

2044.25

-540.585

-267.29

1503.665

1776.96

389.65

S. 1.46

Money received against share warrants

Total shareholders' funds

Share application money pending allotment

f^

Deferred government grants

Non-current liabilities
Long-term borrowings
Deferred tax liabilities (net)
Foreign currency monetary item translation difference liability
account

Other long-term liabilities

0

389.65

831.46

Trade payables

1.712

Other current liabilities

0.192

1.51

172.144

0.05

Total current liabilities

174.048

1.56

Total equity and liabilities

2067.363

2609.98

0.497

0j

Producing properties

Intangible assets

Preproducing properties

(1

Tangible assets capital work-in-progress

Intangible assets under development or work-in-progress

0.4977

0.5

Long-term provisions
Total non-current liabilities

Current liabilities

Short-term borrowings

Short-term provisions

Assets

Non-current assets
(i) Fixed assets
Tangible assets

Total fixed assets

Fo

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512812016

Statement of Asset and Liabilities

Current year ended (dd-mmYYYY)

Previous year ended (dd-mmYYYY)

Date of start of reporting period

01-04-2015

01-04-2014

Date of end of reporting period

31-03-2016

31-03-2015

Particulars

Whether results are audited or unaudited

Nature of report standalone or consolidated

Audited

Audited

Standalone

Standalone

(ii)

Non-current investments

(v)

Deferred tax assets (net'

0.596

0.73

1.093

1.23

(vi)

Foreign currency monetary item translation difference asset

account

(vii)

Lon;-term loans and advances

(viii)

Other non-current assets

Total non-current assets
Current assets
Current investments
inventories

Trade receivables
Cash and bank balances
Short-term loans and advances

(1

100.844

157.98

0.064

92.458

90.68

1809.102

2306.77

63.802

53.32

Total current assets

2066.27

2608.75

'll'otal assets

2067.363

2609.98

Other current assets

Disclosure of notes on assets and liabilities

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Format for Reporting Segmenet wise Revenue, Results and Capital Employed along 11 iti the company results
3 months
ended (dd -yyyy)

Previous 3
months
ended (ddmm-yyyy)

Corresponding 3
months ended in the
previous year (ddmm-yyyy

Year to date figures

for current period
ended (dd-mmYYYY )

Year to date figures

for previous period
ended (dd-mmYYYY)

Previous
accounting
year ended
(dd-mm-yyyy)

Date of start of
reporting period

01-012016

01-10-2015

01-01-2015

01-04-2015

01-04-2014

01-04-2014

Date of end of reporting

31-032016

31-12-2015

31-03-2015

31-03-2016

31-03-2015

31-03-2015

Audited

Unaudited

Audited

Audited

Audited

Audited

Standalone

Standalone

Standalone

Standalone

Standalone

ParficulArs

period
Whether accounts are
audited or unaudited

Nature of report
standalone or Standalone
consolidated

1 Segment Revenue (Income)

(net sale/income from each segment should be disclosed)
1

Commodity Trading

122.27

122.27

Finance Business

-1.667

286.506

Total Segment
Revenue

120.603

408.776

120.603

408.776

Less: Inter segment

revenue
Revenue from
Operations

2 Segment Result
Profit (4-) / Loss (-) before tax and interest from each segment
1

Commodity Trading

-25.256

-25.256

Finance Business

-180.534

-131.1

Total Profit before

tax

-205.79

-156.356

i. Finance cost

18.685

68.572

ii

ii. Other
nallocable
Expenditure net off
Unallocable income

6.963

/3.6 1 7

Profit before tax

-231.438

0 ,

-248.555

3 Capital Employed
(Segment Asset - Segment Liabilities)
1

Commodity Trading

0.064

0.064

Finance Business

1893.251

1893.251

Total Capital
Employed

1893.315

1893.315

Disclosure of notes
on segments

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FORM B
(FOR AUDIT REPORT WITH MODIFIED OPINION)

3
4
5

Name of the company

M/s. Esaar (India) Limited

Annual financial statements

for the year ended
Type of Audit qualification

31st March 2016

Frequency of qualification
Draw attention to relevant
notes in the annual financial
statements and management
response to the qualification in
the directors report:
Additional comments from the
Board/Audit Committee Chair:

Qualified for non compliance of few NBFC Prudential

Norms as prescribed by Reserve Bank of India
Appeared repetitive, since 3 years
Refer Para " Basis for Qualified Opinion" in Auditors'
Report forming part of Financial Statements.

As pointed out by the Auditors in his Audit Report, the

Management is of having view that that the Company is
Small NBFC, as compared to other giants in the market.
Company had not accepted any deposits from public. The
Company is doing business out of its own fund. The
Company operates its business with at most care and
diligence. As far as making of Loan and Advances are
concerned, management grants demand loan only either
to the parties known to the Company or by reference
which are governed by the Board policies.
In some cases Loan Agreements or some KYC were not
maintained. However considering the close monitoring of
Board, no appraisal, renewal, policies and procedure, has
been prescribed therefore and Directors are of a view that
the Company has maintained all basic and necessary
documents, but according to the auditor the documents
are not appropriate/enough. The Company is
continuously making efforts to make KYC documents in
line with auditor's directions, for all future loan agreement
and contracts to be entered.
The Loans and Advances granted by the Company is
cosidered as good and recoverable and do not required
any provisions and same has been closely supervised and
monitered on regular basis and proper internal auditamd
internal control is in place.
The management of the Company is quite confident that
there is/was no NPA. The Company grants unsecured loan
either to the parties to whom Company knows personally
or to the parties, whose reference has been received from,
some parties with whom Company has already done the
business. Though the repayment of the loan and interest
there on might have been delayed some time by the
parties, but Company do receive the payment on later
date.

FORM B
(FOR AUDIT REPORT WITH MODIFIED OPINION)

To be signed byNikhil Poojary

(Director)

Pravin Chandak & Associates

CA Pravin Chandak
(Auditor of the Company)

Reg. N o. ( (f \\
116627 ),(_-),1

Murnbaii.

Avedhesh Pal
(Chairman
Committee)

of

Audit

G')1

`ran

a-ndak
CS

Chartered Accountants

Auditor's report on Quarterly Financial Result and year to date Result of of Esaar
(India) Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
We have audited the accompanying statement of Standalone Financial Results of ESAAR
(INDIA) LIMITED ("the company") for the twelve months ended March 31,2016 ("the
statement"), being submitted by the company pursuant to the requirement of Regulation33 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015.This statement,
which is the responsibility of Company's Management and approved by Board Of Directors,
have been prepared on the basis of the related financial statements which is in accordance with
the Accounting Standards specified under section 133 of the Companies Act,2013,read with Rule
7 of the Companies(accounts) rules,2014 and other accounting principles generally accepted in
India. Our responsibility is to express an opinion on the Statement.
1. We conducted our audit in accordance with Standards on Auditing issued by the Institute
of Chartered Accountants of India. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about
whether the Statement is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
the disclosures in the Statement. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the
Statement, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Company's preparation and fair presentations of
the Statement in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the Company's internal control. An audit also includes evaluating the appropriateness of
the accounting policies used and the reasonableness of the accounting estimates made by
the Management, as well as evaluating the overall presentation of the Statement.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.
2. Basis for Qualified Opinion

The Company is registered as Non Banking Financial Companies (NBFC), having

Certificate of Registration under Section 45 IA of RBI Act, 1934.The company has not
complied few NBFC prudential norms as prescribed by Reserve Bank of India from time
to time as mentioned below:

403, 4th Floor, New Swapnalok CHS Ltd.,

Natakwala Lane, Borivali (West),
Mumbai - 400 092. Tel : 2801 6119
Email : info@pravinca.com
Website : www.pravinca.com

a. Majority of the loans given are demand loans, therefore in some cases the terms
of repayment including interest and loan agreement including KYC documents etc
are not available. Demand and other loans given are governed by the Board
policies. Considering the close monitoring of Board no appraisal, renewal,
Policies, Procedure, Committee or documents have been prescribed and executed.
b. In view of the management all the loans outstanding are considered good and
therefore provision on Non Performing Assets not provided.
-

c. Pre and post sanction generally accepted procedures are not in place.

3. In our opinion and to the best of our information and according to the explanations given
to us, except for the effects of the matter described in the Basis for Qualified Opinion
paragraph the Statement:
i. is presented in accordance with the requirements of Regulation 33 of the
SEBI(Listing Obligations and Disclosures Requirements)Regulations,2015;and
ii. gives a true and fair view in conformity with the aforesaid Accounting Standards
and other accounting principles generally accepted in India of the net profit and
other financial information of the Company for the fifteen months ended March
31,2016.
4. The Statement includes the results for the Quarter ended March 31,2016 being the
balancing figure between audited figures in respect of full financial year and the
published year to date figures up to the third quarter of the current financial year which
were subject to limited review by us.

For Pravin Chandak and Associates

Chartered Accountants
(Registration No. 116627W)

Pravin Chandak

Partner
Membership No. 049391
Mumbai
28t1 May, 2016