www.vbdesai.

com

v. B. Desai Financial Services Limited

Category I Merchant Banker - SEBI Registration No. INM 000002731

February 6, 2017

The Corporate Relations Department

The Bombay Stock Exchange Ltd.
st
p.J.Towers, 1 Floor
Dalal Street, Mumbai - 400 001

Dear Sirs,

Ref: Company Code No. 511110

st
Sub: Quarterly un-audited financial results as on 31 December 2016

With reference to the above, we enclose the statement of un-audited financial results for the
quarter ended on 31st December 2016 taken on record by the Board of Directors at their
meeting held on 6th February 2017 along with Limited Review Report issued by Mis. A.N.
Damania & Co., the Auditors of the Company.

Kindly take the same on your record and acknowledge the receipt.

Thanking you,

Encl: as above

Registered Office: Cama Building, 1st Floor, 24/26, Dalal Street, Mumbai - 400 001

Tel.: +91 224077 0777 Fax: +91 224077 0700 Web: www.vbdesaLcom E-mail: info@vbdesaLcom

WWW. vbdesai.c
 V.B.DESAI FINANCIAL SERVICES LIMITED
Regd. Office: Cama Building 1st Floor, 24/26, Dalal Street, Fort, Mumbai - 400 001; CIN:L74120MH1985PLC037218
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 31/12/2016
(Rs. In lakh, except per share data)
Year to date Year to date
Preceding 3 Corresponding figure, for figures for the
3 months months 3 months ended current period previous year Previous
ended ended in previous year ended ended year ended
Particulars 31/12/2016 30/09/2016 31/12/2015 31/12/2016 on 31/12/2015 31/03/2016
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Income from Operations
1 a. Net Sales/ Income from Operations 26.83 18.94 32.88 72.26 80.94 120.93
b. Other Operating Income 0.00 0.00 5.35 0.00 5.44 19.05
TOTAL 26.83 18.94 38.23 72.26 86.38 139.98
l Expenses
a. Employees cost 7.00 5.32 5.12 17.65 14.16 21.39
b. Depreciation 0.81 0.81 0.91 2.43 2.72 3.25
c. Other expenditure 16.53 13.24 24.12 46.56 54.57 81.59
d. Total Expenses 24.34
19.37 30.15 66.64 71.45 106.23
3
Profit from Operations before Other Income

finance cost and xceptionalltems (1-2)

2.49
(0.43) 8.08 5.62 14.93 33.75
4
Other Income 2.50 1.46 0.00 4.15 22.09 0.00
WrorlIl\losSJ DeTore Tlnance COS{ ana
5 Exceptional Items 4.99 1.03 8.08 9.77 37.02 33.75
6 Finance costs 0.41 1.27 0.07 1.90 0.22 0.20
Il"rOrii an:er Tlnance COS{ DU{ DeTOre
7 Exceptional Items 4.58 (0.24) 8.01 7.87 36.80 33.55
Prior period items before tax 0.00
(0.15) 0.00 (0.15) 0.00 3.48
8
Exceptional items 0.00 0.00 0.00 0.00 0.00 1.09
IPrOTlt/\LOSS) trom uromary activities
9 before tax 4.58
(0.09) 8.01 8.02 36.80 38.12
10
Tax expense 1.53 0.00 2.50 2.60 11.40 11.60

11 Net Profit from Ordinary activities after tax

3.05
(0.09) 5.51 5.42 25.40 26.52
12
Extraordinary items (net of tax expense) -- -- -- -- -- 0
13 Net Profit/(Loss) for the period (11-12) 3.05 (0.09) 5.51 5.42 25.40 26.52

14 Paid-up equity share Capital of Rs. 10/ each 453.81

453.81 453.81 453.81 453.81 453.81
15
Reserve exclUding revaluation reserve as per
last Balance Sheet of previous accounting year
448.58
- proTit lSI LOSS ACCOUnt
I
Earnings Per Share (EPS) (before extraordinary
16(1 ) items) (of Rs.10/- each) (not annualised)
a) Basic 0.07 (0.002) 0.11 0.12 0.56 0.59
b) Diluted 0.07 (0.002) 0.11 0.12 0.56 0.59
6 (i Earnings Per Share (EPS) (after extraordinary
items) (of Rs.l0/- each) (not annualised)

a) Basic 0.07
(0.002) 0.11 0.12 0.56 0.59
b) Diluted
0.07 (0.002) 0.11 0.12 0.56 0.59
Notes:
1. The Company has only one segment i.e Financial Services, therefore segmentwise reporting is not given.
2. The figures for the corresponding quarter/year have been restated wherever necessary to make them comparable with the current
period's figu res
3. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors at their meeting held
on 6th Febraury 2017.

For V.B.DESAI FrI1'~~S ITED

~1\V)p IP R. SHROFF
Place: Mumbai Managin~ Director
Date: 6th February 2017
~~-t?t/JY ~-<A:v A. N. Oamania & CO.
B.Oam F.e.A. Chartered A.ccountants
Tel.: 2346401 1 Cell : 098211 15734 206. Brigadier UsmanOMarg, Ishwar Bhuvan NO.3,
Email: oshwin_n_damonio@yohoo.com
2nd Floor. Room No. 19, Mumbai - 400 003.

Independent Auditors' Review Report

To The Board of Directors of
V. B. Desai Financial Services Limited

We have reviewed the statement of unaudited financial results of V. B. Desai Financial Services
Limited ("the Company") for the quarter and nine months ended 31 sl December, 2016 C'the
Statement") being submitted by the Company pursuant to the requirement of Regulation 33 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations 20 IS. read with Circular
No. CIR/CFD/FAC/62/2016 dated 5'11 July, 2016. This Statement is the responsibility of the
Company's Management and has been approved by the Board of Directors. Our responsibiJit\ is
to issue a report on the Statement based on om review.

We conducted our review of the Statement in accordilllcc \\ illl [he SlandJI\1 Gil Rc\ tCII
Engagement (SRE) 2410, "Review of Interim Financial Infollllal ion performed by lhe
Independent Audilor of the Entity" issued by the Institute of Chartered Accountants of Indi'l.
This standard reqLtires that we plan and perform the revievv to obtain moderate assurance as to
whether the Statement is free of material misstatement. A revie\'\ is limiled primari 11' to inquiries
of Company personnel and analytical procedures applied to tinancial data and thus provide less
assurance than an audit. We have not performed an audit and accordingly, we do not express all
audit opinion.

Based on our review conducted as above, nothing has come to our notice subject to:

l. The Company has not given effect of Accounting Standards 15 (revised 2005) -
"Employee Benefits" issued by the Institute of Chartered Accountants of India:

2. The Company has not given effect of Deferred tax required by Accounting Standards 22
"Accounting for Taxes on Income" issued by the Institute of Chartered ACCOI!nt:ln!s or
India.

that causes us to believe that the accompanying statement or un-audited Ii nancial results prepared
in accordance with applicable accounting standards prescribed by section j 33 or the Companies
Act, 2013 read with relevant rules issued thereunder and other au:,ouilling prac\ice~ and prillciple~
generally accepted in India, has not disclosed the information required Lo bc disclosed in lerms oj'
Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 IS.
read with SEBI Circular NO.CIRlCFD/CMD/FAC/62/2016 dated 5'" July 2016 including the
manner in which it is to be disclosed, or lhat it contains any material misstatement.

For A. N. Damania & Co.

Chartered Accountants
Firm Registration No. 102077W
~o(,,""""-.~ /'YI"J'
Ashvin Damania
Proprietor
Membership No. 040166

Place: Mumbai
Dated: 61h FebruHI'y, 2017