----

R9LIANCe

October 30, 2021

BSE Limited

SECURITIES

Phiroze Jeejeebhoy Towers

Dalal Street

Mumbai- 400001

Dear Sirs,

Sub: - Unaudited Financial Statements for the quarter and half year ended September 30, 2021

in compliance with Regulation 52 of the SEBI (listing Obligations and Disclosure

Requirements), Regulations, 2015

We wish to inform you that, the Board of Directors of the Company have considered and approved the

unaudited Financial Statements for the quarter and half year ended September 30, 2021, at their

meeting held on Saturday, October 30, 2021.

Accordingly, as required under Regulation 52 of SEBI (Listing Obligations and Disclosure

Requirements), Regulations, 2015, we are submitting herewith the unaudited Financial Statements for

the quarter and half year ended September 30, 2021 along with the Limited Review Report. The same

is also available on the website of the Company www.reliancesmartmoney.com

The Board Meeting commenced at 12.30 p.m. and concluded at 04.10 p.m.

You are requested to kindly take the same on your record and do the needful.

Yours faithfully,

For Reliance Securities Limited

\J . J- \o�OAA � �°'Vrunda Dhanesha

Company Secretary

Encl. As above

Reliance Securities Umited

11th Floor, R - Tech IT Pork. Nirlon Compound, Western Express Highway, Goregoon (Eostl, Mumbai· 400 063.

reliancesmartmoney.com I Tel: +91 22 4168 1200 I Fox: +91 22 4168 1220 I CIN: U65990MH2005PlC154052 A RELIANCE CAPITAL COMPANY

Pathal~ H.D. & '.AssociatesLLP Chartered Accountants

Limited Review Report on Unaudited Financial Results of Reliance Securities Limited for the quarter and half year ended September 30, 2021 pursuant to Regulation 52 read with regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Reliance Securities Limited

I. We have reviewed the accompanying unaudited financial results of Reliance Securities Limited ('the Company') for the quarter and half year ended September 30, 2021 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended read with relevant circulars issued by SEBl (the 'Listing Regulations').

2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors in their meeting held on October 30, 2021, has been prepared in accordance with accounting principles generally accepted in India including the Indian Accounting Standards specified in the Companies (Indian Accounting Standard) Rules 2015 (as amended) under Section 133 of the Companies Act, 2013 ("the Act"), as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to rxpress a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information PerformeJ by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountan:~ of India. This standard requires that we plan and perfon11 the review to obtain moderate assurance as to whetlkr the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of pe-rsons responsible for financial and accounting matters, and applying anal1tical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and conse-quently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes U$ to believe that the accompanying Statement, prepared in accordance with the recognition and measurement pri!lciples laid down in the aforesaid Indian Accounting Standards specified under Section 133 of the Act as arner.ded, read with relevant rules issued thereunder and other accounting principles generally accepted in Jndia, has not disclosed the information required to be disdose-d · in terms of Regulation 52 read with Regulation 63(:?) of the Listing Regt,!ations, including the rnam1er in which it is to b,:'<lisc:losed, or that it contains ;rny material misstatement.

5. We draw attention to Note no:-5 of the Statement, regarding non receipt of confirmation against certain fixed deposits (FDs) amounting to Rs. 754.02 lakhs by the Company from a Sched1lled Commercial Bank as on September 30, 2021 for the rea$Oll5 stated in the said note. These FDs include "Client Margin" FD Rs of Rs.570.00 Lakh. Based on the facts fully described in the aforesaid note, view of the Company and legal opinion obtained by the Company from an independent legal experts, the ·management of the Company is confident that they will be in a position to recover said Client Margin FDRs from the Bank over a period of time and no adjustments are required in the carrying amount of said "Client Margin" FDRs. Our conclusion on the Statement is not modified in respect of the above matter.

For Pathak H. D. & Assoriates LLP Chartcrul Accountants Firm Regi~lration No. 107783W/W100593

~~~~

-r~ Jigar T. Shah Partner Membership No. 161851 UDIN: 2116185IAAAAOC3466

Place: Mumbai Date: October 30, 2021

---~ ( ' < MUMBAI

_, J~

Head Office: 814-815, Tulsiani Chambers, 212, Nariman Point, Mumbai - 400 021 , India. Tel.: + 91 22 3022 8508 Fax: + 91 22 3022 8509. URL: www.phd.ind.in.

S.N.

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VIII

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XII

XIII

S ECUR I TI E S RELIANCE SECURITIES LIMITED

Rt.'f~~I. Office: 1 llh floor, R. Tt.>Ch IT J>.uk, Nirlon Compound, Orf Western E..,pwss Highway, Gorcgaon (East), ~fombai • 400063 CJN:U65990MH2005PLC15-1052

Statement of Unaudited Financial Results for the quarter and half year ended September 30, 2021

( f'in Lllkh except~,. share data)

Quuterudt d H•lf yur tnded Ytutndtd

P•rticut.n Stpltmbtr Junt Stpltmbtr Stpttmber St ptembtr Mirrh 30, 2021 30, 2021 30, 2020 30, 2021 30, 2020 31~ 2021

Unaudited Unaudited UnaudilL-d UnauditL'tl Un.iudited Audiled

Revenue from operations 9,037 10,899 6,050 19,936 11,414 26,855 QI.her income 36 29 34 65 167 197

Told income {1+11) 9,073 10,923 6,0H 20,()01 11,581 27,052

Expenses: Finance Costs 515 752 649 1,267 1,280 2,460 Fees and commission expense 528 <>22 633 1,150 1,305 2,479 Employee Benefits Expenses 4,012 4,722 2,443 8,734 4,447 11,160 Dcpreci.ltion. amurtb..ition and impairment 104 107 153 211 301 603 Olhcrs CJCpcnscs 3,119 4,346 1,663 7,465 2,893 8,214

Tot•I exprnsu 8,278 10,549 5,541 18,327 10,226 24,916

Profit bt fort txctptioul itews ind In (III•IV) 795 379 543 1,174 1,355 2,136

81:ctplionJil items

Profil bt fort tu: (V-VI) 795 379 S43 1,174 1,35S 2,136

Tu: t xpt nse: (a) Current Tax 207 223 207 347 (b) Ddcrrt-<l T.:!.x (347) (347) 844 (l") Taxes of earlier yea rs 2, (78) 2.1 (78) (34) Tut.ti tu opensH (i +b+c) 230 (2021 230 (78) 810

Profit for tht ptriod/ yur (Vll•Vlll) 565 379 745 944 1,433 1,326

O lhu Cowpn-husivr Incomr

Items U\al will not be rt'flassified to prnfit or h~s: Rl!'-Oll'JSUrCnK'lll of pt-st rcUn---menl bcrw•lit oblip,Jlion 8 4 8 4 (4) Income tax n•lating to this items (2) (2)

TOllll CODl?rtht nsiu lncou1t for tht period/yur ([X +X) S71 379 749 950 1,437 1,322

Equity Sh.trt Cipitill 21,000 21,000 21,000 21,000 21,000 21,000

Eiming ptr sh.tr, on Equity Shuts of (t l0ucbl' - Bisic 0.26 0.17 0.34 0,43 0.65 0.60 • Diluted 0 .26 0.17 0.34 0.43 0.65 0.60

0 EPS is not annualisL'J for interim ncriotl

ReLIANce

SECURITIES ( r;,. Lakh t.:rctpt IN' shilrt d,uo)

Notes: 1 The above financial results for the Quarter and Half year ended September 30, 2021 are prepared in accordance with the recognition and measurement principies of Ind AS 34 .. Interim Financial Reporting"

prescribed under the section 133 of the Companies Act, 2013 ("the Act") read with the relevant Rules made there under.

The Company has reported segment wise information as per IND AS 108 "Operating Segment", notified under the Companies (Indian Accounting Standards) Rules, 2015. The operations of the Company arc conducted within India, there is no separate reportable geographic.di segment and the Company reported the following business segments:

(i) Broking Activities: Broking activities includes Broking services to clients, research and advisory services and distribution of financial product distribution, depository services, etc.

(ii) Proprietary trading: Proprietary Trading activities includes the trading in securities by the Company in its own name.

P•rticulus Quuterudtd I-Iii/ Yur tnded September June Septembtr Stpltmber Septembtr

30, 2021 JO, 2021 JO, 2020 30, 2021 30, 2020

UnauditL"d Unaudited Unaudited Unaudited UnauditL-<l Stgmtnt Rl!'venue a. BrokinJ! activity 4,617 3,491 4,230 8,108 8,417 b. Proprietary trddinp,, 4,421 7,408 1,819 11,828 2,997 c. UnalJocatcd 36 29 35 65 167

Tot•I 9,073 10,928 6,0H 20,001 11,581

Segmtnt Ruults a. Brokmr, activity (1,155) (2,269) (1,037) (3,424) (1,305) lJ. Proprietary tradinr. 1,929 3,991 1,568 5,920 2,538 c. Unallocated 21 (1,343) 12 (1,322) 122

Told 795 379 543 1,174 1,355

Stgmrnt A.5sl!'ls a. Broki.n.1� activity 66,811 63,913 56,558 66,811 56,558 b. Propricl..lry lrJdinP, 22,013 17,IH2 2,162 22,013 2,162 c. Unallocated 742 8-15 1,8-11 742 1,841

Toed 89,566 81,800 60,561 89,566 60,561

Stgment Liitbilitirs a. Brokini .iclivilv 73,514 67,600 49.559 73,SH 49,559

b. PropriclJr\' trJdin>? 3,154 1,872 296 3,154 296 t". Urulloc.ill.-d 1,356 1,356 1,356

Totil 78,023 70,828 49,155 78,023 49,855

C�iu Lakh)

Yure-ndtd Much

31, 2021

Audited

15,664 11,191

197 27,052

(5,m) 7,255

10,5 2,136

63,133 10,684 1,202

75,019

39,577 4,830

64,427

The Listed Secured Non.Converlible Debentures (Market Linked Debenture) of lhe Company aggregating to Rs.5,455 Lakh as on September 30, 2021 are secured by way of first ranking mortgage over the Company's Immovable property and second charge on the present and ruture book debts and receivables hypothecated in favour to Banks towards Working Capital facility of the Company as specifically mentioned in the Trust deed and the asset cover thereof exceeds hundred per cent of the principal amount of the said debentures.

4 Disclosures under Regulation 52(4) and 54 (2) & (3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 are given in Annexure A.

The Company has been unable to obtain Bank Confirmation for the hdlf year ended 30-September-2021 for certain Fixed Deposit Receipts (FDRs) amounting to Rs. 754 lakhs from a Scheduled Commercial Bank (Bank). which includes "Client Margin" FDRs amounting to Rs. 570 lakhs. The Bank has adjusted said FDRs against amounts due and payable by the parent company (Reliance Capital Limited) to the Bank. The Company has obtained legal advise / opinion from a reputed law firm confirming that the action of the Bank to adjust "Client Margin" FDRs can be challenged as being illegal and untenable in law. The regulatory provisions from SEBI also support this position. The Company has initiated necessary actions against the Bank for said adjustments for Client Margin FDRs. Hence, the Company is confident that the said Client Margin FDRs of Rs. 570 lakhs will be recovered from the Bank over a period of time and no adjustments are required to be made in the carrying value of lhe FDRs. Balance amount of FDRs of Rs. 184 lakhs have been provided for in lhe books of accounl of !he Company. This matter has been referred by lhe Auditor in their audit report as matter of emphasis,

The above results were reviewed by the Audit Committee. The Board of Directors at its meeting held on October 30, 2021 approved the above results and its release. The statutory auditors have carried out a limited review and issued an unmodified audit opinion on the unaudited financial results.

Figures of previous year are regrouped and reclassified wherever necessary to correspond to figures of the current year.

Pl.ice: Mumb.li Dale: 0.:lobcr 30, 2021

aturvcdi Eucutiv• Dinctor & CE DIN : 02859336

ReLtANCe

SECURITIES

RELIANCE SECURITIES LIMITED Unaudited Balance Sheet As at September 30, 2021

S.N. Particulars As at September 30, 2021

ASSETS 1) Financial Assets

(a) Cash and cash equivalents

{b) Bank balance other than cash and cash equivalents above (c) Derivative financial instruments (d) Receivables

(i) Trade receivables (ii) Other receivables

(e) Loans

(f) Investments

(g) Other Financial assets

2) Non-financial Assets

(a) Inventories

(b) Current tax assets (net)

(c) Deferred tax assets (net)

(d) Investment property (e) Property, plant and equipment (f) Goodwill

(g) OUm intangible assets

(h) OU1er non-financial assets

Total Assets

LIABILITIES AND EQUITY LIABILITIES

3) Financial Liabilities

(a) Derivative financial instruments (b) Payables

(I) Trade payables (i) total outstanding dues of micro enterprises and small enterprises (ii) total outstanding dues of creditors other than micro enterprises and small enterprises

(II) Other payables (i) total outstanding dues of micro enterprises and small enterprises (ii) total outstanding dues of creditors otller Ulan micro enterprises and small enterprises

(c) Debt Securities

(d) Borrowings (Other Ulan Debt Securities)

(e) OUler financial liabilities

4) Non-Financial Liabilities

(a) Provisions (b) Other non-financial liabilities

5) EQUITY

(a) Equity Share capital

(b) Instruments entirely equity in nature (c) Other Equity

Total Liabilities and Equity

Unaudited

1,011 11,515

14

2,389 226

2,214 10,319

57,269 84,957

1,741

586 . 13

505 8

520 1,236 4,609

89,566

31

.

45,420

.

. 8,310 2,639

7,208

63,608

230 14,186 14,416

21,000 2,500

(11,958) 11,542

89,566

~

(? in lakh)

As at March 31, 2021

Audited

2,205 20,856

8

1,954 251

2,275 5,036

38,129 70,714

1,657

1,026 . 13

587 8

574 440

4,305

75,019

246

.

43,530

.

. 7,587

2,839 1,736

55,938

307 8,182 8,489

21,000 2,500

(12,908) 10,592

75,019

-,~~CE Sf:' t~>

1(

~'

ReUANCe

SECURITIES RELIANCE SECURITIES LIMITED

Cash Flow Statement for the half year ended September 30, 2021

(~ in lakh) Asat As at

Particulars September 30, 2021 March 31, 2021

A. cash flow from operating activities Profit before tax

Adjustment

(Profit)/Loss on sale of investments (net) Changes In Fair value of Investments Loss/(Profit) on sale/Discartment of Property, Plant & equipment Excess provision/ Credit balance written back Provision for doubtful debts/advances Bad debts written off Depreciation & amortisation expenses Dividend accrue on preference shares Interest on income tax refund

Interest expenses

Operating Profit Before working capital changes

Working capital adjustments:

(Increase)/Decrease in bank balances not considered as cash and cash equivalents

(Increase)/Decrease In trade receivables (Increase)/Decrease In Inventories (Increase)/ Decrease In loans (Increase)/ Decrease in other financial assets (Increase)/ Decrease in other non financial assets Increase/ (Decrease) in derivatives instruments (net) Increase/ (Decrease) In trade payables

Increase/ (Decrease) in other financial liabilities Increase/ (Decrease) In provision

Increase/ (Decrease) in other non-financial liabilities

Payment of taxes (net of refunds)

Net cash flows from / (used in) operating activities

B. Cash flows from investing activities

Purchase of property plant and equipement & intangible assets Sale of fixed assets Purchase of Investment property Purchase of investments Sale of investments

(A)

Unaudited

1,174

{4)

(182)

(1) . 447

-211

73

(51)

1,194

2,861

9,341

(578)

(83)

(219)

(19,130)

(805)

(220)

1,890

5,379

(70)

6,003

4,369

261

4,630

(96)

21 .

(7,100)

2,003

(5,172) Net cash flows from/ (used in) from investment activitiei (B)f------"-'----'+-- -

C. Cash flows from financing activities

Proceeds from allotment of Marketlink debenture Redemption of Marketlink Debenture

(Repayment to)/ Borrowing from financial Institutions Interest paid

200

(298) (200)

(354)

Audited

2,136

1

(36)

10

(138)

281

222 603

140

{44)

2,320

5,495

3,916

2,095

(1,596)

2,142

(26,361)

142

(740) 17,985

(30)

72 3,552

6,672

119

6,791

(278)

6 .

(5,000)

29

(5,243)

-(219)

(2,211)

(1,204)

Net Cash flows from/ (used in) Financing activities (C)~ _ ___ ..!..:.,;_.:+---------'c..:. (652) (3,634)

Net increase/ (decrease) in cash or cash equivalents (A+B+C) Cash and Cash equivalents at the beginning of the year

Cash and Cash equivalents at the end of the year

Components of cash and cash equivalents

Cash on Hand

(1,194)

2,205

1,011

-Balances with Banks - In current accounts

Cash and Cash equivalents at the end of the year ,&'~.!.~ f-- - -----+---

1,011

1,011

(2,086)

4,291

2,205

. 2,205

2,205

(2,,,, I

ReLIANCe Annel(ure- A

S ECURITI ES RELIANCE SECURITIES LIMITED

Disclosures pursu.ant to Regulation 52(4) and 54 (2) & (3) of lhe Securities and Exchange Board of lndiit (Listing Obligations and Disclosure Requirements) Regulations, 2015 For the haU year ended September JO, 2021

Quater ended Hali vear ended Year ended

Sr.No. Puticul,us September June Seplember September September March 30,2021 30, 2021 30, 2020 JO, 2021 30, 2020 31, 2021

a Debt Eouitv Ratio 0.95 0.99 1.02 0.95 1.02 0.98 b Debt Service Coveraee Ratio 1.83 1.16 1.47 1.45 1.07 0.95 C Interest services covera(?.e ratio 2.54 1.50 1.84 1.93 2.06 1.87 d Outstandine: redeemable oreference share (nuanlitv & Value) NA NA NA NA NA NA e Outstandinv redeemable preference ~hare (? in Lacs) NA NA NA NA NA NA ( Debenture redem1>tion reserve 560 560 560 560 560 560 . Networth (fin Lacs)- 9.056 8,492 8,219 9,056 8,219 8,112 h Net orofit arter tax: ~ in Lacs) 565 379 745 944 1,433 1,326 i EaminS? per eQUitV share

(i) Basic EPS m 0.26 0.17 0.34 0.43 0.65 0.60 (ii) Diluted EPS (') 0.26 0.17 0.34 0.43 0.65 0.60

i Asset Cover Ratio 4.90 4.30 3.40 4.90 3.40 3.56 i Current ratio* NA NA NA NA NA NA k Lom,. term Debt to workine: capital ratio NA NA NA NA NA NA I Bad debts to account receivable ratio(%) 0.00% 0.00% 0.03% 0.01% 0.04% 10.06%

m Current liabilitv ratio• NA NA NA NA NA NA n Total debt"S to total assets ratio 0.12 0.20 0.18 0.12 0.18 0,14 0 Debtors turnover 0.29 0.20 0.55 0.13 0.29 0.08 D lnventorv turnover• NA NA NA NA NA NA Q Qperatin2 mare.in(%)• NA NA NA NA NA NA r Net orofit marnin (%) 6.23 3.47 12.24 4.72 12.38 4.90

The company prepares financials statements as per Division Ill, Schedule Ill of theComFanics Act 2013, hence these ratiosare not applicable .

..,. Networth computed here does not include Capital Reserve of Rs. 2602 lakhs.