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 preferential basis 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 any time 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 the Company 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. End: Results for the Quarter and Nine Months ended December 31,2015 Choice House Shree Shakambhari Corporate Park, Plot No 156-158, J. B. Nagar, Andheri (East), Mumbai - 400099. Tel. *91-22-6707 9999 Email Id: info@choiceindia.com www.choiceindla.com, CIN:L67190MH1993PLC071117
Choice Sr.No. Statement of Consolidated Financial Results for thequarter and Nine Months Ended December 31,2015 Part icu lars Quarter ended Nine Months Ended 31.12.2015 3049.2015 31.12.2014 31.12.2015 31.12.2014 ncome from Operations ;a) Income from Operations/ Sales 3281.58 2972,14 1458.62 9428.91 3824.45 Year Ended 31.03.2015 5413.72 Total Income from Operations (Nat) 3436.05 3090.65 1500.61 9791.24 3927.06 5669.97 ; Expenses (a) Operational Cost / Purchase of Stock in Trade 233740 1750.17 843.19 6292.96 1561.40 2662.75 (b JChanges in inventories of finished goods, work 1.74 150.19 (374.52) 35.68 (318.59) (622.22) c) Personnel Expenses 'd) Depreciation and Amortisation Expense 'e) Administrative & Other Expenses Total Expenses 371.62 52,17 191.8 C 2954.73 375.22 51.26 137.27 2464.1 1 405.56 59.36 72.69 1OO6.3C 1255.67 153.27 42246 8160.04 1069.26 179.36 188.15 2679.51 1250.21 22745 323.36 3841.55 t Profit/(Loss) from operations before other Income, finance costs and exceptional Items (1-2) Other Income Profit/doss) from ord inary activit ies before finance Cost and exceptional Items 13*4) Profit/!Loss) from ordinary activities after finance Cost but before exceptional Items (5-6) 481.36 66.47 54743 462.02 8541 626.54 10E.0C 73244 217.30 494.31 92.97 587 28 135.27 1631.20 251.72 1882 92 446.26 1247.48 306.13 1553 51 28640 182842 519.43 62740 Profit/(loss) from Ordinary Activities before Tax 10 rax Expenses Net Profit/I Loss) from Ordinary Activities after n Tax (9-10) 12 Extra-Ordinary Items (net of Tax expense) i; Net Profit/1 Loss) for the period (11-12) Share of profit/(loss) of associates 15 Minority Interest Net Profit after taxes, minority interest and 16 share of profit of associates 23.65 62.16 62.16 6.76 O.OC 68.92 78.81 0.0E 138.4: 0.9E 0.0( 139.41 42.83 92.44 92.44 O.OC 9244 159.09 287.17 287.17 13.73 300.90 113.62 172.98 172.9E o.oc 172.98 469.83 469.83 510.06 Paid Up Equity Share Capital (Face Value Rs 10/-) 18 Reserves excluding Revaluation Reserve as per Balance Sheet of Previous Accounting Year 19 (1) Earnings per Share(EPS) (before Extra Ordinary Items) (of Rs 10/- each)(nol annuallsedl a) Basic 20 (ii) Earnings per Share(EPS) (after Extra Ordinary itemshof Rs 10/- each)(not annuelised) ^D.iuted 1000.48 0.69 0.69 0.69 0.69 1000.48 1.35 1.3S 1.3E 1.39 100048 0.92 0.92 0.92 0.92 1000.48 3.01 3.01 3.01 3.01 1.72 1.73 1.73 1.73 5.038.96 5.10 5.10 5.10 Choice House Shree Shakambhari Corporate Park, Plot No 156-158, J. B. Nagar, Andheri (East), Mumbai - 400099. Tel. 4-91-22-6707 9999 Email Id: Info^choiceindia.com www.choiceindia.com, CIN:L67190MH1993PLC071117
or thequarter and Wine Months Ended December 31.M15 "ft Choice Perc^ntage of Shares (as a % of the total share apital of the company) Percentage of Shares (as a ^ of the total wehoiding of promoters and promoter group) beginning of the quarter Received during the quarter Disposed of during the quarter Choice House Shree Shakambhari Corporate Park, Plot No 156-158, J. B. Nagar, Andheri (East), Mumbai - 400099, Tel. +91-22-6707 9999 Email Id: info@choiceindia.com www.choiceindla.com, CIN:L67190MH1993PLC071117
^A Choice Sr.No Particular! Ouarter Ended Nine Months Ended Year Ended Segment Revenue a. Jroking Services b. nvestment Banking Services c. ^utsourcing Services VBFC & Other Services ^Commerce Services Total.ess: Inter Segment Revenue Yet Income from Operations 2 Segment Results Profit/floss) before tax and 1103.68 197.22 1435.09 749.85 3485.84 49.75 3436.09 1307.65 245.69 817.93 869.25 3240.52 149.87 3090.65 743.13 296.3 C 306.98 203.78 1550.19 49.58 1500.61 3S22.4S 569.94 3654.16 2293.98 10040.53 249.25 9791.24 2210.70 600.21 735.52 603.62 4150.0S 222.99 3927.06 3012.45 1234.62 830.28 865.24 5942.59 272.62 5669.97 b. c. d. e. Sroklng Service! nvestment Banking Services ^utso^rcing Services ^-Cnmmerce Services Total.ess: Finance Cost Other Unallocable Expenditure Net Off Add: Unallocable Income (17.10) 126.48 (53.33) 166.03 80.23 150.17 51.57 (1.591 292.5S 75.25 90.61 18.80 38.81 O.OC 199.59 64.32 288.52 71.68 (53.33! 676.0C 229.75 S7.3B 481.87 195.27 444.1J 108.64 146.31 888.32 260.92 1 Capital Employed (Segment assets-segment liabilities) Notes: 1.The aforesaid consolidated financial results were reviewed by the Audit Committee of the Boa the Company at its meeting held on February 13, 2016. The financial results for the quarter reviewed 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 Private LimitedXhoice Consultancy Services Private Limited.Choice Capital Advisors Private limited.choice Insurance Brokers Private Limited, Choice Wealth Management Private Limited, Choice Merchandise Broking Private Limited,.Choice Corporate Services Private Limited, Choice E Commerce Private Limited and share of profit from Associate namely: Aqua Pumps Infra Ventures Ltd, have been extracted from consolidated financial statements prepared in accordance 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, investment banking, 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 segment in accordance with Accounting Standard 17" Segment Reporting' as prescribed under Companies (Accounting Standards)Rules.2006, taking Into account the organisational and internal reporting structure as well as evaluation of risks and returns of these segments. The balance is shown as unallocated items. 4.F ixed Assets used in Company's Business or Liabilities have not been Identi fied to any reportable segment, as the fixed assets are used interchangeably between segments. It is not possible to furnish segment disclosure relating to total assets and liabilities. 5. financial results of (Standalone) are as follows:(f In lakhs) Quarter Ended mths Er arended Particulars npany for the quarter ended December 31,2015 id of the accounting year. Choice House Shree Shakambhari Corporate Park, Plot No 156-158, J. B. Nagar, Andheri (East), Mumbai - 400099. Tel. *91-22-6707 9999 Email Id: info^choiceirtdia.com www.choiceindla.com, CIN:L67190MH1993PLC071117
CA ' 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 shyamsunderqupta@qmail.com. Tel: 28870869j IRef:SSGfltd-reviewJ Q3 / 2015-16 INDEPENDENT CONSOLIDATED LIMITED REVIEW REPORT The Board of Directors Shree Shakambhari Corporate Park Plot No 156,157 S 158, Chakravarti Ashok Society J. B. Nagar, Andheri (East), Mumbai - 400099 Date: 13-02-2016 Dear Sir, We have reviewed the accompanying statement of unaudited consolidated financial results of Choice International Limited for the quarter and six months ended on December 31. 2015_except for toe disclosures regarding 'Public Shareholding' and Promoter and Promoter Group Shareholding' which have been traced from disclosures made by the management and have not been audited.by us. This statement is the responsibility of 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 Interim Financial Information performed by toe independent auditor of the entity", issued by Institute of Chartered Accountants of India. This standard requires that we plan & perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A Review is limited primarily to inquiries of company personnel and 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. Further We did not reviewed toe Statement of financial results of eight subsidiaries, whose financial statements reflect toe group's share of total assets of Rs.181.40.68.182/- revenue of Rs.79.98.15.946/- and toe net profit of Rs.2.9747,225 and groups share of net profit of Rs.13.73,973 from one associates for the for the period of nine months 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 and group's share of net profit of Rs.6,76164 from one associates for toe quarter ended on December. 31, 2015 has been considered in consolidated financial statements The financial information of these subsidiaries and associates have been reviewed by toe other auditor whose reports have been furnished to us by the management and our opinion on toe 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 toe accompanying 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) Rules 2014 and other Accounting Principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of toe SEBI (Listing Obligation & Disclosure Requirement ) Regulation 2015 including the manner in which it is to be disclosed or that it contains any material misstatement For Gupta Shyam & Co. Chartered Accountants FRN:103450W CA Shyamsunder Gti'i Proprietor Membership No.638484
Choice Sr, No. 1 Statement of Standalone Financial Result* for the Quarter and Nine Months Ended December 31,2015 Part iculars Quarter ended Nine Months Ended 31,12,2015 ncome from Operations a) income from Operations/Sales b)olher Operating Income Total Income from Operations (Net) 749.85 O.GC 749.85 869.25 203.78 2293.98 2293.98 603.62 603.62 Year Ended 31.03.2015 865.24 865.24 2 Expenses a) Operational Cost / Purchase of Stock in Trade (b [Changes In inventories of finished goods, work-in-progress and stock-in-trade c) Personnel Expenses d) Depreciation and Amortisation Expenses 557.8^ 0.40 26.4^ 27.7.- 558.68 1165 24.04 27.60 0.05 5.71 15.39 28.93 1595.41 12.57 75.07 83.68 0.12 (5.03) 44.63 80.56 14.23 3.18 04.24 114.16 3 Total Expenses Profit/I Loss) from operations before other Income, finance costs and exceptional Items (1-2) nut 110.89 646.97 222.28 69^ 134.36 1839.15 454.83 191.05 412.57 276.98 588.26 4 Other Income 5 e^o^'!^ o^t^ "^^^ ^"^ ^"*"" ^""^ 6 Finance Costs 7 Profit/(Loss) from ordinary activities after finance Cost but before exceptional Items (5-6) Profit/floss) from Ordinary Activities before Tax (7-8) 110.89 101.37 9.02 9.02 149.89 72.39 72.39 0.10 110 55 23.91 23.91 0.01 36510 89.74 89.74 0.31 318 08 94.80 94.80 0.35 588 61 43118 157 43 157.43 [^ 13 15 4et Proflt/(Loss) from Ordinary Activities after Tax (9-10) Net Profit/(Loss) for the period (11-12) aid Up Equity Share Capital (Face Value Rs 10/-) teserves excluding Revaluation Reserve as per Balance Sheet of 25.65 25.65 57.48 57.48 ia.96 18.96 89^4 o.oc 89.74 75.25 75.25 142^7 142.77 3984.46 16 11 i) Earnings per Share(EPS) (before Extra Ordinary hems) (of T10 each Knot annualised) b) Diluted li) Earnings per Share(EPS) (after Extra Ordinary ltems)[of Y10 eachknot annualised) b) Diluted 0.26 0.26 0.57 0.57 0.13 0.19 0.19 0.90 O.90 0.90 0.90 0.75 0.75 0.75 0.75 1.43 1.43 1.43 1.43 Choice House Shree Shakambhari Corporate Park, Plot No 156-158, J. B. Nagar, Andheri {East), Mumbai - 400099. Tel. +91-22-6707 9999 Email Id: info@choiceindia.com www.choiceindia.com, CIN:L67190MH1993PLC071117
St. No. 1 >ubllc Shareholding: Select Infonnation for ^e Quarter and nine Months Inded December 31,2015 Particulars Quarter ended 31.tZ.201S Percentage of Shareholding 2 'romoter and Promoter Group SliarehoWing a) Pledge d/cncumbe red Number of Shares Percentage of Shares (as a % of the total shdrehutdlng of.unoteis and promoter group} S318373 53.1 6% 7SO0OC 16.00^ 53.16% 750000 16.00% 63.15% 750000 70.34% 53182731 53.16%1 75000C 16.00% Ended 12.2014 63.15% 750000 20.31% ^A Choice fear Ended 31.03.2015 58.15% 750000 17.91% Number of Shares Percentage of Shares (as a %of the total shareholding o promoters and promoter group! Percentage of Shares fas a % of the total share capital of he company) 3936527 39 35^ 3936527 84.00% 39 35% 2936S27 79.66% 29.35% 3936527 84.00% 39 35% 2936527 79.66% 29 35% 3436527 82.09% 34.35% B Particulars of investor Complaints 'ending at the beginning of the quarter ^isposed of during the quarter lemaining unresolved at the end of the quarter Quarter enrfud December 31, 2015 0 0 0 0 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 recognis company. 3.The effect of deferred tan liability and provision of retirement benefits shall be considered at the end of the accounting ye 4.The figures for the previous year/period have been regrouped and rearranged wherever deemed necessary. S.Theresultswill be available on the Company's website "www.choiceindia.com" JL Choice House Shree Shakambhari Corporate Park, Plot No 156-158,1. B. Nagar, Andheri (East), Mumbai - 400039, Tel. *91-22-6707 9999 Email Id: info@choiceindia.com www.cholceindla.com, CIN:L67190MH1993PLC071117
- 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-1i I " 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 Directors Shree Shakambhari Corporate Park PlotNo 156,157 & 158, Chakravarti Astiok Society J B- Nagar, Off Sahar Road, Andheri (East), Mumbal - 400099 Dear Sir. We have reviewed the accompanying statement of unaudited financial results(standalone) of Choice Intemafional Limited for the quarter and Nine months ended on December 31 2015 except for the disclosures regarding 'Public Shareholding' and Promoter and Promoter Group Shareholding which have been traced from disclosures made by the management 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 Interim Financial Information performed by the independent auditor of the entity", issued by Institute of Chartered Accountants of India This standard requires that we plan 8 perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A Review is limited primarily to inquiries of company personnel and 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 the accompanying statement of unaudited standalone 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 (Accounfing) Rules 2014 and other Accounting Principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEB! (Listing Obligation & Disclosure Requirement) Regulation 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. For Gupta Shyam & Co. Chattered Accountants