o\rz Paul l[Brchants Lld.tu lS0 golh :20i5 C0nifi.d Comp.n, Clll: LraaOtDLltoaPlmA?S

Corp. ofiice. I PML House SCo 823-830 Sector 22.A, Chandigafi-j 6OU2

Ph. 0172-5041740, 5041 757, 5041792 Fax: 0172.5?41713

Beod 0tlic€ : oSM 335. 336, 337, 3rd Ftoor, DLF Tower, 15, Shiwii Marg,

NaFlgarhRoad New0elhi-]10015 Ph. :011-48702000

www.paulmerchants.net inlo@paulmadEnb.net

PMUBSE/BM t2019t474

Date: November 14,201g

Corporate Relations Department,BSE Limited,

Phiroze Jeejeebhoy TowersDalal Street

Mumbai- 400001

SUB: OU OME FBO D MEETING

INTIM ON EGU IONDISCL UR E UI EN

EBI STIN OBLI Tto ANDREG TI S 201 ..SEBI

ODR ula s"

ated Segment Results for the euarter and

F

SCRIP CODE: 113

TIME OF COMMENCEMENT: 12.00 p.M.

TIME OF CONCLUSTON: O2.2Op.M.

Dear Sir,

2. Statement of Standalone as well as ConsoliHalf Year ended September 30, 2019.

ln compliance with the provisions of Reguratior! 30 and 33 of sEBr (Listing obrigations andDisclosure Requirements) Regulations, 20.i5 read over with sEBl circular No.clRlcFDlcMDt4r20l5 dated 09.09.2015, we wlub rike to inform your good office that theBoard of Direc{ors of the Company in their {uly convened meeting held on Today i.e.Thursday, the 14s Day of November, 2019 tfas inter atia discussed anO approrej thefollowing:

1. standalone as wel as consorioated un-audit[d Financiar Resurts for the euarter and harfyear ended September 30, 2019.

3, statement of standarone as we as consoridated Assets and Liabirities for the harf yearended on September 30, 2019.

4. cash Flow statement (standarone as wefl as consoridated) for the harf year ended onSeptember 30, 2019.

5 Limited Review Report issued by statutory Auditors of the company on the aforesaidFinancial Results.

The said results have been reviewed by Audit committee in its meeting herd on 13rh Day ofNovember, 2019 and thereafter dury approved and taken on record by the Board of Direcrorsof the Company in their Meeting hetd today i.e. on i4rh Day of November, 2019.

IOREIGil

EXCHA}IGE

TOURS &

TRAVELS

0rfrB0uilDil0lltY TBAtISFEB

DOMESTIC

OilEY TRAl{SFER

rNrrsilATt0)tAt-

SIM CAiD

Pnu[ Menchnrurs

f

WESTEBTI UTIION

trl0llEY TBAI{SFE8

It is also submitted here that as per Regulation 30(3Xb) of the Securities and Exchange Board

of India (Listing Obligations and Disclosure {equirements)

Regulations, 20'15, we have

consolidated the said Financial Results with rFspect to our Joint Venture Company M/s

Horizon Remit Sdn. Bhd., Malaysia and with our lwo

Wholly Owned Subsidiary Companies i.e

M/s Paul Merchants Finance Private Limited arld M/s PML Realtors Private Limited for the

Quarter and half year ended September 30, 201:.

6. Designated Mrs. Bhupinder Kaur, Chief Finlancial Officer (PAN: ASOPK3920F) and Mr.

Hardam Singh, Company Secretary (FCt

materiality of an event or information and imaterial event or information under Regu

Disclosure Requirements) Regulations, 201 5]

; 5046) of the Company for determining

br the purpose of making disclosure of any

lation 30 of SEBI (Listing Obligations And

to the Stock Exchange.

nagerial Persons are as given below:-The contact details of both of the above Key Ma

Mr. Hardam Singh,Company Secretary cum Compliance OfficerPhone:-01 72-5(X1760Email: - cs@paulmerchants.net

Mrs. Bhupinder Kaur,

Chief Financial OfficerPhone: - 0172-5041733Email: - bhuoinder.kaur@paulmerchants.net

Yours faithfully,

For PAUL MERCHANTS LIMITED

We hope you will find the above in order. You are requested to take the same onyour records.

Thanking you,

SI

COMPANY SEC

FCS-5046

Encl: As above

( SECI()R

Qt

22-A

___-/.,nrcli

Pa,trl t\denclrarrrs Lrd3

E-m.|| r InfordtP.urm-F row.., a5, shrw.rr M..a. Ner.ta.,h tu-d. N-* o.lhFl1oor,5 ?h. :

5IAIIDALONE UNAUOITED f INANCIAT RESULIS FOR THE ANO HALF YEAR ENOEO ON sEP 2019

Amount in &. Lakhs) etc€ptShareand pershare data

PARTICULARSEnded 30.09.2019

Pre.edlnt3

Monthr End€d

:t0,06.201930.09.2018lnthe

Fltur€s ior the

P.rlod €nd.d

:10.09.2019

Fltur$ tor th€

:to.og.zt lEended 31.03.2019

I

IRevenue from Operataons 1.12,6s1 1,11,061

281,14,393

249

244,172

,10

2,99,401

493

4,39,A96

1,245

t 1,33,075 I,tt,347 1,14,602 2,11,422 2,r9,!!0 4,91,141

b

d

c

E4rens€5

cost of m.terials .onsumed

Purchase5 of Stoc*-ln-Trade

Changes in lnvento.ies oflinished 8oods, Stock-in-Trade and

Employe€ b€nefi ts erperu€

oepr€ciat{on and Emonizauon €u€nse

1,31,200

(4s3)

512

1!

69

1,3t0

r,o9,u5

1558)

398

10

6A

1,304

1,12,515

to1

487

13

7A

915

1,40,U5

(r,051)

910

23

137

7,674

295,891

(102)

955

29

1rt8

1,941

4,2,751

22

2,1,10

46

326

4A25

1,32,611 1,10,466 1,14,115 2,98,854 4,49,7t2

Prcfiv(lors) before erceptional items and tar (l-lv) 4al

t41 142

1,429

Profit/(Losrl Eefore rax (v-vl) 464 338 a0z 1,M6 t,429

v t

(1.)curentt.r(2)Deferedtax

49

714

130

(14s)

160

(101)

179

29

308

(197)

271

(2e9)

P.ofit {Los, for the peiod from continuiry operationr (Vll-Vlll) 241 353 428 594 93s 1,505

x

xt Taxexpenseof discontiiuedoperations

xI Profiv(Lo5s) from discontinued operations {after ta,() (X-xl)

x t Profrt/(lor5) for the period (lx+xlll 241 353 4Za t94 935 1,sos

Oth€r Comprchenslv€ lncom€

A li) ltems that will not be reclassified to profit or loss-

R€measurement GaanlLoss) o. d€fined benefit obiirations(llllncometa( relatingto items that will not be reclassifiedto

I (i) ltems that Mll be reclassified to profit or loss

(ii) ln.ome tax relatint to items that will b€ r€classified to proflt

{s)

I

(8)

I

(1)

0

{17)

{2}

11

(4)

Total comp.eh€nsive lncome for the p€riod (xlll+xlv)

(Comprislng Prcfir (torrl rnd oth€rCompr€h€hsive lntome for

23' 147 477 5al 937 1,512

xv

XVII

xvr E.mings p€r equity rh.re (for continuint op€ration)r

l1l Basi. (face value of R5- 10 each)

(2lDiluted (face value of R5.10 each)

EaminF per €quity there (for ditco.tinued opeEtlon):(1) Basic ltac€ value ot Rs.10 each)

(21 Diluted (face value or Rs. 10 eachl

Earnines p€r equity5hare (for ContinuiE and discontlnued

(1) Basic (face value of Rs.10 e.ch)

(2)Diluted (face value of Rs.10 each)

21.45

23.45

23.45

21.45

34.31

34,31

14.31

34.31

1t.62

47,62

41.52

41.62

57,76

57,76

51.16

51.16

146.41

146,41

145.t1

146.41

I

I

E

90.96

90.96

90.96

90.96

o-

,

rh. ComD.ni.s Acr, 2013 Ead with Rul. 3 ol th. Companles (hdlan Accountiry st.nd.d, Rules, 2015 .nd Companies {lndian Aeounting Standard, Ai}.ndm.nt RUcs, 2016,

1:1::a19

.r.?ss.d any resefr atio. or q!alif ication.

EEprional ltemt abde, TheE are no oth€r erc.ptlonal or ert6 odinary item to b. reported.

5 S.gment reporting is done ln acordance with l.d-A!1o8and segment wise.eports areenclos€d

5. PEviols penod FiguEs have been resrouped/reclassined and reaftnged wherevernece$ary to make th€m compaEble with curent perlod figlres.

lea3es In accordance with 9aE 6 ofthe INO A5. Th..doption oa rtandard doe3.ot haE any mt.rl.l impact o. the nnencl.l Esults ofthe comp..y.

clstome6 dudngthe quaerand h.{yearended 30 Sep 2019 Mr Rs 1191Lacs and Rs,230s Lacs respectiv.ly.nd forquartere.dlngiu.e 2019 m5 Rs 1114 k6.

financial results have been pcpa€d o. the basisthat the company rould .vail the said option to pay tlx et Low. Ete oftax.

11. The quarterly Resllts are available on the website of BsE Limit€d at http://www.bseindia.com and on the website ofthe comp.ny at http://ww.paulmerchents.net

s

x5at

OC14

.\la$N

Place: Chandigarh

Dat€d:14.11.2019 DI

Chai.man&3

red

Menckarvrs Lrd-'Paul

E-mrn : rnro€,eautd.'.w.., lt sh.vajI Mars, N.i.rtErh Road, N6w o''

SEGMENT RESULIS TON THE qUARIERAND HAII YEAR ENDEO:IO.O9-2019sTATEMEI{T OF STANDAION E

30.09.2018

ended31,03.Z01930,09.2013|nthe

30.09.201930,06.2019

PARIICUTARS

1

\ar,u11,12,921

127

2,1r,r141,37,131

21 23

(a)

{c)

tr€tel./iimr' sh!€sE )

L6: ht rsqrErlt R*nc{a)

{c)7,13,7171,32,651Net -l6nkoh€ F.oE o9er.tion3

547

33

5682332v

2

{b)

ipbnrx+)/ r.$ t.t h.tore rrr and rnbr.n

1,,120315

1,2a5

1l

210

23

262

235iii)

i)

oiher lJn.a{aable Erpenditure net oif

313133ztz

!

135

1,5t1

2,052

I

(b)

201

533

2,566

1,521

33,0,12

513

12

519 1,5U

(a)

(d)

(s.smenr ast5 - s.sment Llablliti*)

13,55,113,t54

1. fd UE half y€ar ended 3orh sep 2019, Segmenr reEnE . Trarel cpreenG sal€ of TE€l Pa.kages, ret fte earEd d b@l(ng of Air ticket , Hoi€l and Pack ge dore on

behalf of .Gromeu lnd trcenltEi r*d . Gl6 amount of dE beking ol air lickel , ltot€l .nd Package .tom on b.hslf ot chtohds d6hg the quard d half vear ended 30 sep

2019 was is I 191 Lacs .nd tu. 2lo5 L&t rsF<ti€ly and t r qE rq endlng JUE 2019 was R3 11 1a tacs.

2. Previs p€riod flgr* haE b€€n redanged and Es@ped $tEr*r Eesry to make rhem @mparable wil}l cment perlod flgu6

D.red: 1a.u.2ol9

5r. No

t:

Pau[ Menchnnrs LrdS(an lso roor :2015 c.dtfl€d co.) (ctxj L7agoooLt 96apLco I aa7!).t

Statement ofStandalone Assets & Liabllities

As at 30th sep, 2019

(1) on-Current Assets

a)

b)

c)

d)

e)

0s)

(h)

(i)

(,

Property, Plant and Equlpment

Capital Work ln Prog.ess

Investment ProDerty

Goodwill

Other Intanglble Assets

Intangible Assets Unde. O€velogment

BlologlcalAssets other than bearer plants

ii) Trade Rec€lvables

iii) Loans

lll) Others ( to be specifled)

Deferred Tax Assets (Net)

Other Non-Current Assets

16,480.99

6,472.36707.43

323.52

70.88

7,465.39

16,880.99

352.57

70.88{21

ii) Trade Re.elvables

lll)Cash and cash equlvalents

lv) E nk Balanc€ Other than tii above

v) Loans

vl) Others

current Tax Assets ( Net)

Oth€r Current Assets

1,518.29

9,058.50

370.93

640.93

101.88

3,5r1.72210.86

524.30

16.85

456,90a)

b)

c)

d)

40,540.05 39,672.72EQUITY AND LIABILITIESEQUITY

b)

a) Equity Capital

other Equrty102.40

38,451.11102.80

37,890.89LIABILTTIES

(1) Non-Current Liabilities

a)

b)

c)

d)

c)

d

Ili) Otherflnanclal li.bilities (other than those spectfied an item (b), to be specified)

oefered Tax Liabilities ( e0Othe. Non-orrfent tlabllitiesDefened tax liabilities (Net)

Other non-@rrent llabilitles

Financial Liabilltles

l) Borowings

ii) Trade Payables

161.39 147.44

r2) Current Liabilities

a)

b)

c)

FinancialUabilities

i) Borrowlngs

ii) Tr.d€ Payables

Other Current Liabilities

2.47

658.45

890.25

273.18

73.02

363.33

797,17

363.74

Iotal Eqully and Uabilities 40,540.05 39 672.72

Byorder

I

&Ma nagillgDirector\r*o-DI

Sat Paul

Chai

Plac€r Chandlgarh

Dated:14.11.2019

le

-a-.E-mait : info@pautmerchants.net Webdte : www.pautme..hants-net

REGD. OFF-: DsM 335? 336. 337, 3.d Floot OIF Tower, 15, Shivaia Mara, NajaIAarh Road, New Oethi-UOOts ph. : (,1I-4aTOZoOO

Audit€d

5,586.08

485.98

647.O4

104.96

7,41,9.72

130.55

434.18

14.05

Board

CORA Otr,r PMt House,SCO 829'830, Se.tor 22-A, €handiSa.h ' 160 022 Ph 0172-5041?85, 5025090 Fax : 01?2-5&1709

[-mail : info@paulmerchantt.n€t Website : www.paulfi€r'hants net

ntco.OtF.:DSM335,336,337,3rdrloor,DrFTower,15,ShivaiiMar8,NaiafgarhRoad,NewDelhi'110015Ph:011-48702000

STATEMENT OF CASH FLOW AS ON 3OTH SEP, 2019

Paul Mrnchrnrs LrdSlan ISO 9oo1:2015 C.rtinod co.) lcltl | !t49@ou984P1c018679)

1,440

(40)

(479)

46(6,316)

2(8s)

(454)

(111)

(e1)

14

(3e)

(467)

(5,6,l:})

507

M2

1877 )

(10,092)

205

89

454

81

(9,499)

(13)

11,711)(46)

(r,77{)

(1,866)

(227)

9,,103

22

3,638

1,2088,374

(3,4s2)

5,995

1

(307)

(166)

9,630

121)

309

(1,051)

3.584

(115)

(3)

\4,228),86

3

295

(1,02r)(175)

(1,196)

799(123)

39467

761,256

(10)

(23)

(53)

6

641

A. CASH FLOW FROM OPERATING ACTIVITIES

Profit be{oae Tax

Adjustment lor:

DeprociationProfiuloss on Sale of Fixed Assets/lnvestments

Gain on Sale ofMTSS business

Gain on Sale of lnveslrngnts

Financ€ Cost

Short Tem Provisions

Long Term Prcvisions

Rental lncome

lntorest lncome

Dividend Received

OPERATING PROFIT(LOSS) BEFORE WORKING CAPITAL

CHANGES

Adjustment for :

Net changes in operating Assets & Liabilities

Decrese/(lncrease) in lnventory

lncrease in Cunent lnvestmeots

Decrease in Tlade receivable

lncrease in Other Bank Balanca

lndease in Short Term Loans & Advances

D€crease in Curront Tax Assets

Decrease in other Cunent Assets

Dedease in Trade Payables

Decrease in Other Curont Liabilities

CASH FROM(USED IN) OPERATIONS

lncome Taxes Paid

NET CASH FROM(USEO IN) OPER,ATING ACTIVITIES

B. CASH FLOW FROI INVESTING ACTIVITIES

Sale of Fixed Assets

Purchasa of Fixed Lssets

lncrease of Non Curent lnvestments

lncrease in Other Non Curent Assets

Rentallncome

lnterest lncome

Dividend lncome

NET CASH FROM/(USED IN) INVESTING ACTIVITIES

C. CASH FLOW FROM FINANCING ACTIVITIES

Dividend Paid

Bonowjngs (Net of Repayments)

Long Term Borowings

Short Term Bono,vings

Finance Cost

NET CASH FROrr./ (UsEo) lN FINANCING ACTIVITIES

Net Change in Cash & Cash Equivalents (A+B+C)

at the nn oI theCash and Cash

v i.li.,.8$

22-A

&

*

,oc/4

a(Sat

DIN

chai

H

S 0clECTORPla.e: Chandigarh

Dated: 14.11.2019

By order of the Board

lle.c .t !:9.,

785

137

otCesh

/

JAIN & ASSOCIATES

CHARTERED ACCOUNTANTS

lndependent Auditor's Limited Review Report on Standalone Unaudited Quarterly and Year to date

financial results of the Company Pursuant to the Regulation 33 of the SEBI (tisting Obligations and

Disclosure Requirements) Regulations, 2015

Review report to

Board of Directors,

Paul Merchants Limited

We have reviewed the accompanying Statement of Unaudited Financial Results of Paul Merchants

Limited for the Quarter and Half year ended 306 September, 2019. This statement is the responsibility

of the Company's Management and has been approved by the Board of Directors. Our rgsponsibility is

to issue a report on these financial statements based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagements

(SRE) 2410 "Review of lnterim Financial lnformation Performed by the lndependent Auditor of the

Entiv', issued by the lnstitute of Chartered Accountants of lndia. This standard requires that we plan

and 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 provides less assurance than an audit. We have not

performed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as above, nothing has come to our attention that causes us to believe

that the accompanying statement of unaudited financial results prepared in accordance with applicable

accounting standards and other recognized accounting practices and policies has not disclosed the

information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and

Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it

contains any material misstatement.

For JAIN & ASSOCIATES

CHARTERED ACCOUNTANTS

Firm Reg. No.- 01351N

(NEERAJ JAIN)

PARTNER

M. No. 089477

uDrN. I q08 1 \-11 AAAALH 18 oo

Date: 14.11.2019

Place: Chandigarh

S.C.O. 178, Sector 5, Panchkula

Phone: 9876L10632

Email : !p!piai!@s4a!!.-g,

Pnul MsncJra,r.rs Lrd -'..5o25osfu:0172-5@17@

6-han : r.b€)P-lrrenbr_ 1s,shrv€rr

'Ers, Nnr.ra,6 &.d, N.w hrhLlaoo

CONSOUDAITD UNAUDFSD fII{AJ\IOAT ATSUI'S FOR THE ANO HAL'YEARTNOEO ON sIPIEMBER 2019

11A/Vi

{Amolrt In ns, L.IE) ercepr share and per sh.re dara

30,06,2019:t0.09.2019 :10,09,2018

31.04.2019

Rewnue from OgE6taons

lll

Is

cst of hate.ials conr{med

Putn ses or Stckln-Tr.deChanges in iN.ntoder of fr.ish€d goods, 5t@k-in-T6de .nd

Employee b€nefts expense

D.preciationand.monir.ri.n.xpene

(493) 6s3)

75 33

l1,0sl)

2,95891

{1o2)

\lrt

7,Or9

119

PrcfiVllold beiore exceplional items and tar (t-lv)

vI

15s

lt47lProfit {Lo5r} lor th. p.rlod lrom co.tlnulng op.r.tions (viavIr)

Tar €rpense otdisco.tinued oDemtions

xr P.ofir/lLoss) rom dis@ntlnued op€Btionr (after t r) (x-xt)

sher. ot Prcft (tord ot.$o.l.t s andjotntv€nturce

a..ounted lor usanr.qultv nerhod (3){s)

xlt Profit/{lori) forrh. p.nod {lx}xllOth.r CoBprehentlv. home

A (0 lrens th.t will .ot be c.la3sified ro p.ofit or toss-

Re mea3u re hent cain (Lo$) on de, ned benefit obtiSariong

{ii) lncome t x Elatias to items thar will mr be ectassined to

8{i) ltemsthatwill b€.€chrsifredro poff or l6ss(ii) hcome tar relating to items rhar willbe re.tarsified ro

u1) 113)

(2)

p4)

t2t l1)

ToLl Comprehensive ln@me aor the perlod lxtlr+xtv)(conp sins Protit (!or3) and other comprehenslv. tn@me

xvI

Jtuolft or lo$, .nrrburable to:

lNon{onr6llins interests

I

lTot r Cohrr.heEiv. ln.ome lor rh. p.riod .trrtbuLbk

Non<onrollhr interests

E nin8s p€r equity s[.8 {for contlnuins oper.rion}l

11) B*E{f.e valEof R3. 10.ach)

{2) 0 luted llae value o, R5 l0ea(h)Earnings p.r equfty rhare (ford'5@ntrnued op€6rionl(1) B8k (Le value oa Rs. 10 e..h)(2) Dilut.d {h.e valE of Rr. 10 ea.h}

Eamin8r perequity star€ {forcontinuing.nd dk.ontinued

11) sa5k{hceval@of Rs. 10ea.h)

{2)Diluted (face value of Rs. 10 each)

i$a

53,16

2,203

red

o

2<'

ctA

133

13

82.0,83l]

IOR22.N

r. r1l€ un-audibd coMlid.ted fi.aftjal .€5uhr lor Quaftr & H.ll Year €hd€d s.prember 30, 2019 a.€ p.ep:.€d in ..cdrne *nh th. lndi.n a4ounlin8

:tl ot the cdpani.s Ac! 2013 re.d wirh Rul. 3 of the Comp.ni6 (rndian A.ou ntiry standa rd, Rul6, 2015 a nd compa.a6 (hd ia n Acmunrin3 st.hd.d, Am€ndm.nt nu b!, 2016,

sbndards ( nd-As) a' pG*ribed under s.clion

2 I}E .bore Unrudred consoridahd fin.nd.l results alonsw th s.cm.nt wn. resula, statement ol Assets & uabilti6 and calt Flow sfr.f,lnt

'Ri*€d & r@me.d.d by th. audit commitre. in iG *trn3 held on 13.11.2019.Ihe eme hare been apprcv.d and bk* on l@.d bvlh. Bord ol oir..6 oi th€ comp.ny in then me.tiq held

for th€ Ou.d€. & H.lf Yea. .nd.d :0.m.2019 wep

r. th. sdutory auditoB ol rh. c.m9.ny hav.

dpBsed any E. alion orqual,idion

ericd out ih. Uh it d R.vi.w of .bove U hnu dit€d co..olidated Finand al i.su lB f* th. ao.nd & Italf y..r ..d.i 30. m.2019, on whi.h lh.v hav. nor

4. Duringthe hatfyearended 30 S.p 2019, the company had &ld it' two prop.rtict.t Delhiand Cha^digarh and incurEd Net los on 3uch sle.nouotinat6 Rt.142L6.pre*nted.t pointVl- tuceplion.l lt€m.bde. The,e are nootherex.ePlionalorext6 ordinary item t6 be Eport.d.

!. s.sment rep.rtins G don. in amdah@ with lnd-a:'$A and s.Ement wk. r€poft ar€ €ncLosed.

6. pr.vious Eriod ri.ures have been r.!.oup€d/.€cla$ilied and r.a(ansed wherever he@$ary to hake them .omlaEbl. wi6l cumd penod fi8ur€s-

bm t€aser tn a@rd,ne wirh,rr.6 o, rh. ND As .Ih€ adoption of th. ltandad dG nor hzv..ny d. !limp.d on OE n.a.dal.6ult5 otrlE C.mp2ny.

& rn tmr ot i.ell.don 33I2l (.)ol5.d.,r6 &d Erdans. Berd ot Indra lusthg obla!.tiG and Dk l6uE R.quiEmd|6) Rnd.lMr 2015,ih. chl.t fiE j.lolft6rnd M.n lins Dlre.to.

...oli€d th.t dt. an E fin*dc rslis do not Mt ln anv f.r* d nisl.rdns ftEn.d d ngu6 .nd do not mn.nv m.t d.l f.d whadr dy nrle dP dmmE d ngu6 @t lEd th.BnmBledin!.

9,Th€E16mchansesihihea@untin3polici.3olth.Companyexeptthatfdthehalfy.rrend.dS.p2019,R.E.elrcmop.EtionsiEluddS.hofT.lP.c*as.s.ndim.niiv.sBc.ived on sbss b:sB s,h€r..3 l&n!. e.red on bootnE of An tkk 15 .d Hor.b.r.. on b.h.lt of custom.B har b..n 3h n on ml b.sb. G@ amonr ofthe b.oki.E ofAir thk.t3

and 8or.ls6t don. on b.h.lf ol customE dudna th€ qu.6r.nd h.lf V..r.hded 30 S€p 2019 was tu 1191 Lr6.nd &, 2!05 b€ etp€.tlvely .nd for qu.rt.r..dhl lqn. 2019 was Rr

April I 2019, pusurnt to Regul.tid 33(3) ol sEBi ludins oblisztio6 .nd DisclotuE f,.quremenB) Regulations, 201s, es .n€nd.d.

crvcro/cMD1^4/2019 d.t d M:rdr 2e, 201e.

The€ lin,n.ial rcsult h.ve ben p.€pa.€d on the baeis thar th€ comp.ny would avail the said optio. to p.y br at lowe rate ol bx.

http://9w.pa0lm.r.h.nti,E!

ha\' /:,. /_r

'!-rys%

\ \'\\,\

Plul Menchaxrs Lrd.'

<oRp. oFF.. pM! r{ou3e, sco a29-aro, secror 22-A, chandigerh - 1& o22 Pl1. ol12-5o4lre6,5o2so9o tax : o172-5o417o9

E-m.ll . ,.ro@paulmerchants,ner Website : ww p.llmer.haht. net

RCGO. OFF.: OSM 335, 336, 337, 3rd floor, OLF rowet, 1s, shlvajl M.rA, Naiafa.rh Aoad, .aew Delhl-11oo15 Ph. : OU-447o2ofi)

I(an rso roor :2015 c.nrf€d co.) {crN: LT,isoooLl ea4Pl.coiaaTr)

UNAUDITED STATEMEIVT Of CONSOLIDATED SEGMENT RESUI.6 fO8 QUARIES AND llALF YEAR ENDED ON sEPTEMBER 30, 2019

{Rr.lnl.kh3}

30.09.2018 h rhe

30.09.201930.09.2018

31.03.201930.09.2019

Precedin83

:to.06.2019

Sr. No PARTICULARS

1

2.,96,@1

2,147

1,036

4,45,221

4,74

2,213

1,31,437

190

1,066

1,10,912

96

844

1,12,n8

1,141

731

2,41,179

286

1,911

(N€rsre/n.ofre om ea.h se8menr )

(a)

{c)I,m,m71,13,693 1,11,885 1,14,@7 2,45,579

(a)

G}

!6.: lnter S4gmnt R*n!.

l,@,0871,13,693 1,11,886 1,14,802 2,4r,579Net sales/ln.ome From Operations

46

i11

2,200

147

17

570

412

83

1,7U

568

70

745

254

728

233

42

tt7

2

(a)

(h)

s.rMt i6ult3 (Mlr)(+l/ t6 l-l b.l,€ lrx .nd lnt 3t

t,211886 1,910 1,3411,O21

115

549

29

403

119

1,795131

762 741

158 130

191

i)

ii) OtlEr Un atldable alpenditu.e net ofi

1,441 1,404 7,196477 7'11 747Totll Profit B.fore Td

2,191

306

24,194

16,229

3,409

313

13,977

22,941

5,166

7t6

17,455

2,191

306

24,i98

16,7?9

7,216

232

22,194

18,5,14

!,.O9

331

13,8n

2?,941

3

(b)

(c)

(d)

40,541,tl,19o .40,t60 12,925 .10,t6042,925

841

261

2,268 2,17O

1,196

13t

3,61

1,347

106

3,593

2,042

190

2,268

811

261

1,347{.)(b)

(c)

{d)

setmst Llabllitie!

t,375 1,80i5,069 5,341 3,!7t

444

Nl24,194

16,229

3,616

2,566

70

11,An

22,911

2,2@

4,17O

111

17,455

2,170

u4201

24,194

16,229

3,615

42

22,198

18,544

t,59A

2,566

70

1r,8n

27,941

2,2@

5

(a)

(b)

(c)

(d)

(e)

C.pital Ehploy€d

(segmnt a*tr - segment tiabilitie,

17,856 37,186 36,74037,856 37.J49 37,186

Segment reEnw . Travel rcpreents Sale of T.aEl Packages, net reEE €arned on booldng of An ti.ket , Hotet and Paclige

done o beh.tt of cBtomE and trcenti!€r red . Gr6s amost of tie boLng ol air ti.tet , Hotel and Padage &m q behalf of .ustomR durin! tlE qu.rer and hatl

year ended 30 5.p 2019 Es Rt 1191 La6 and R5. 2105 L.c re+e.tiEly a.d f* quarter endng lue 2019 mr Rs 111{ Lac.

2. PBio6 Friod figurcs haE ten Eacnged and regreFd whercEr B6ery ro mak€ tlEm @mparable witi crent Frlod figur€s

1 . tor tne half year erded loth sep 2019,

Dated: 14.11.2019 sat

ot

drl ere

By order of the Board

scoSn'$0 I

sEcTo,qz-i l

-J-l,\iDlC

i

Pnul Mencknnrs Lrdl1An tSO 9O01 :201 5 Cenlfi6d C6.) {ClN: L7l900OL' 9aaPLCOl6679i

CORP. OFF.: PMt House. sco 929-830, Seclor 22-A, Chandlgarh - 160 022 Ph, O172-50417a6, 50250ao Far : 0172-5041709

f-mail : info@paulmerchants.net WebdE : w\.rv..paslmerEhants.net

REGD. OFF.: DsM 33S,336,337, 3rd iMa rh fl ew D€lhi-11.0015 Ph. : 011-44702000

Consolidated Statement ol Assets & Liabilities(flgures ln Rs. ln

sbclA rc By order o, the Board

3t\zs

c

As at 31st Mar, zo19As at :|fth S€p, 2019

unaudited AuditedParticulars

ASSETS

(1) Non-Current Assets

68.08

6,646,24

107.43

331.48

1,496.19

7,567.49

72.99

357.06

1,838.19(i)

(j)

a)

b)

c)

d)

e)

0s)

(h)

Property, Plant and Equipment

Capital Work in Progress

Investment ProPerty

Goodwill

Other Intangible Assets

Intangible Assets lJnder Development

Biological Assets other than bearer plants

FinancialAssets

l) tnvestments

ij) Trade Recelvables

iii) Loans

iii) Othe6 ( to be speclfied)

Deferred Tax Assets (Net)

Other Non-Current Assets

(2) Current assets

5,596.83

485.98

1,O74,34

104.96

24,t97.46

204.21

662.38

30.59

1,518.29

9,799.69

370.93

1.185.48

r06.52

17,675.56

238,53

811.71

49.34

466.90Inventories

FinancialAssets

i) Investments

ii) Trade Recelvables

Iii)Cash and cash equivalents

iv) Bank Balance Other than iii above

v) Loans

vi) Othe6

Cunent Tax Assets ( Net)

Other Current Assets

42,924.96 40,540.81

)

)

c)

d)

b

EQUITY AND LIABILITIESEQUITY

102.80

37,753.39

102.80

36,637.48Equity Capital

Other Equity)

)

a

b

LIABILITIES

Non-current Liabilities(1)

163.94187.13

a)

b)

c)

d)

Financial Liabilities

l) Eorrowings

il) Trade Payables

iii) Other financial liabilities (other than those speclfled in item

Provlslons

Ereferred tax liabilities (Net)

Other non-current liabilities

l2') Current Liabilities

2,630.49

615.32

1,O75.52

560.31

1.684.41

406.19

Flnancial Uabillties

i) Borowlngs

II) Trade Payables

lil) Other financial liabilities (other than those specjfied in item (b). to

be specified)

Other Current Liabilities

Provlsions

Current Tax Llabllltles(Net)

a)

b)

c)

d)

42,924.96 40,540.81Toial Equity and Liabilities

IIII

II

II

Place: chaadlgarh

Dated:14.U.20t9

(Chairman & Ma Di

Sat

{

\(arc

447.t6698.83

8y order ofth€ Board

Chandlsarh

14.11.2019

5at

COiP. OFE: PML House, SCo a29-a30, S€dor 22,A, Chln.tig.rh - t5l, O22 ph. Ot72-5O417a6, 5O25O9O Fax : 0172-goa17otE-mait I tnfo@p.qtmercnanB,oet Webslte : www.piutmerchanE.n€r

iEGO. Oaa.: OSM :l!5. 3!6. 337, 3.d Floor, Ot,i er,15, Shiv.it M.E, N.j.fo.rh io.dr N* D.tN-11@15 ph.: O11-487O2OOO

CONSOLIDATED STATEMENT OF CASH FLOWAS ON 3OTH SEP,2OI9

Pnu[ Msncknnrs Lrdlla. rso sool:20r 5 c€drfDd co.) (ctr.r LT.sooDlr$.prco1557s)

1,559

153

134

015)'t 15

(13s)

(3e)

(1271

(3s)

(4Ss)

119

(6,031)

12

(e7)

(442)

(01)6

2,398

349

(40)

A. CASH FLOW FROM OPERATING ACTIVITIES

Profit bebre TaxAdjustrent for

Oepr€clation

ProfiULoss on Sale of Fixed Asssts/tnvestrn€ntsGain on Sale of MTSS busin$sGain on Sale of lnvestmentsFinaoce CostShort Term ProvbionsLono Tem ProvisionsRental lncomelnterest lncomoDMdend ReceivedOlhor Adjustments

oPERAING PROF|TT(LOSS) BEFORE WORKI{G CAP|TALCHAiIGES

Adiustment for :

Net changes in operatjng Assels & LiabititiesDecrese/(lnqeas€) in lnventoryDecrease in Cunenl lnvesltnentsDecrese/(lncrease) in Trade receivableDecrese/(lncrease)lncrease in Other Bank Balancelncrease in Short Term Loans & AdvancesDecrease in Current Tax AssetsD6crease/(lncr6ase) in other Curent AssetsOecrease in Trade PayablesOecrease ih Olher Cunent Liabitit;es

casH FRoM(usED tN) OPERATTONSlncome Taxes PaidNET CASH FROM(USED INIOPERATING ACTIVITIES

B. CASH FLOW FROM INVESTING ACTIVITIES

Sal€ of Fixed AssetsPurchase ol Fixed AssetsDecreas€/(lncrease) of Non Current lnvestmentslncrease in Other Non CurentAssetgAcquisition of stake in SubsidiaryRenhl lncomelnterest lncomeDividend lncomeNET CASH FROM(USEO II{) IT{VESTING ACTIVITIES

C. CASH FLOW FROI' FINANCING ACTIVITIES

Dividend Paid (tnctuding Dividend Distribition Tax)Borrowings (Net of Repayments)

Long Tem Borro/ringsShort Term Borrowings

Fanance CoslNET CASH FROM/ (USED) IN FINANCING ACTIVITIES

NetChange in Cash & Cash Equivatents (A+B+C)

oftheCash and Cash atthe

1,525

(31)

799(272)

5(s8)

185

(1 11)

(1,0s1)

4,3't8(115)

2(6,488)

149

19

20s224

(r,20s)(386)

(,591)

39

127

39

679

946(1r5)800

(4,328)

(1,790)

975

22

2,917

1,204

8,688(r 1,919)

5,743(1s)

(406)

(3e)1,77X

(488)

1,285

645(949)

(e)

(910)

(,892)

442101

(2,4741

(13)

(468)

(119)

(600)

c

o 4

ed \

JAIN & ASSOCIATES

CHARTERED ACCOUNTANTS

lndependent Audito/s Review Report on consolidated unaudited quarterly and year to date

financial results of the Company Pursuant to the Regulation 33 of the SEBI (listing Obligations and

Disclosure Requirements) Regulations, 2015

TO THE BOARD OF DIRECTORS OF

Paul Merchants Limited

1 We have reviewed the accompanying Statement of Consolidated Unaudited Financial

Results of Paul Merchants limited ("the Parent'') and its subsidiaries (the Parent and its

subsidiaries together referred to as "the Group"), and its share of the net profit/(loss) after

tax and total comprehensive income / loss of its associates and .ioint ventures for the

Quarter and Half year ended 30th september, 2019 ("the statement"), being submitted by

the Parent pursuant to the requirement of Regulation 33 of the SEBI (ListinB Obligations and

Disclosure Requirements) Regulations, 2015, as amended. Attention is drawn to the fact that

the consolidated figures for the corresponding Quarter and Half year ended 30th September,

2018 as reported in these financial results have been approved by the Parent's Board ofDirectors, but have not been subjected to review.

2. This Statement, which is the responsibility ofthe Parent's Management and approved by the

Parent's Board of Directors, has been prepared in accordance with the recognition and

measurement principles laid down in lndian Accounting Standard 34 "lnterim Financial

Reporting" ("lnd AS 34"), prescribed under Section 133 of the Companies Act, 2013, and

other accounting principles generally accepted in lndia. Our responsibility is to express a

condusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review

ErEagements (sRE) 2410 "Review of lnterim Financial lnformation Performed by the

lld€pefdent Auditor of the Entit/', issued by the Institute of Chartered Accountants of

lrda. A review of interim financial information consists of making inquiries, primarily ofp€rssrs rEponsible for finaocial and accounting matters, and applying analytical and other

r* Fodur6- A review is substantially less in scope than an audit conducted in

mdrr: rlh Stardards on Auditing and consequendy does not enable us to obtain

assurance that re Eld becorfl€ arare of all significant matters that might be identified in

an audit. Accordirgly, E do nct eryr€ss an audit ofinion-

We also performed procedtnes in @dafr rith ttr ciro&r issued by the SEBI under

Regulation 33 (8) of the SEBI (tistirE Ot ieatiIls -d tlsdosrre Requirements) Regulations,

2015, as amended, to the extent applicable.

(i) Paul Merchants Finance Private Limited (formerly known as Paul Fincap Private

Limited), Wholly Owned Subsidiary

(ii) PML Realtors Private Limited, Wholly Owned Subsidiary

(iii) Horizon Remit SDN. BHD., Malaysia, Joint Venture

octA

rlCrcO

S.C.O. 178, Sector 5, Panchkula

Phone: 9876110632

Email: npnpiain@gmail.com

4. The Statement includes the results of the following entities:

JAIN & ASSOCIATES

CHARTERED ACCOUNTANTS

5. Based on our review conducted and procedures performed as stated in paragraph 3 above

and in paragraph 6 below, nothing has come to our attention that causes us to believe that

the accompanying Statement, prepared in accordance with the recognition and

measurement principles laid down in the aforesaid lndian Accounting Standard and other

accounting principles generally accepted in lndia, has not disclosed the information required

to be disclosed in terms of Regulation 33 of the sEBl (Listing obligations and Disclosure

Requirements) Regulations, 2015, as amended, including the manner in which it is to be

disclosed, or that it contains any material misstatement.

5. The consolidated unaudited financial results includes the interim financial statements/

financial information/ financial results of Malaysian Joint Venture which have not been

reviewed/audited by their auditors. The consolidated unaudited financial results also

includes the Group's share of net loss after tax of Rs. 3.23 Lakh and Rs. 4.90 Lakh for the

Quarter and Half year ended 30.09.2019 respectively as considered in the consolidated

unaudited financial results, in respect of Malaysian Joint Venture, based on their interim

financial statements/ financial information/ financial results which have not been

reviewed/audited by their auditors. AccordinB to the information and explanations given to

us by the Management, these interim financial statements / financial information / financial

results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter

For JAIN & ASSOCIATES

CHARTERED ACCOUNTANTS

Firm Reg. No,- O13Q1N44t'eN\ t (NEERA' JAIN)

PARTNER

M. No. 089477

UDIN: lq AAAbr5310

Date:14.11.2019

Place: Chandigarh

S.C,O. 178, Sector 5, Panchkula

Phone: 9875110532

Email: n pn p ia in (dsma il. co m