CINNO.

:- 117290GJ2005P1C046345

(ilDrPO V E R S E ALST D .

CrossRoads,
Swastik
Complex,
CorporateOffice : A/601,Narnarayan
- 380009.Gujarat,
INDIA Ahmedabad
Naviangpura,
Fax: 0091'79-26420408
26431594
: bogi-zg-25560630,
Phone
: www.pradiPoverseas.com
Website

l0t November,2016
TheMonoger,
The ListingDeportment,
BomboyStockExchongeLimited
DololStreet,
Fort
Mumboi 400001

I The Monoger,
I The ListingDeportment,
I NotionolStock Exchongeof Indio,
I ExchongePlozo,
I Bondro KurloComplex,
| Bondro ( Eost)
Mumboi 400051

Deor-Sir,
Sub.: UnouditedFinonciolresultsond LimitedReviewReportof the
Compony for the quorterond holf yeor ended 30t September,2016.
Ref.: BSE:Code 5331ZB : NSE: Symbol-PRADIP-Series-EQ
Pursuontto the Regulotion30, 33 ond 52 of the SEBI(ListingObligotionsond Disclosure
Requirement)Regulotion,2015,(the ListingRegulotion)we enclose herewitho copy of the
Stondolone unoudited finonciol resultsof the Compony for the quorter ond holf yeor
ended 30t'September,2016os consideredond opproved by the Boord of Directorsof the
Compony of itsmeeting held todoy.
We olso enclose herewithLimitedReviewReportfor the quorter ond holf yeor ended 30th
September,20l6.The soid report corriesQuolificotion.
We oppend hereunderClorificotionon the oforesoidquolificotionos under:Replvlo PoinfNo.3 of limiled ReviewReportAs per the RBIGuidelinesin cose, if the occount is NPA, bonks should reversethe interest
olreody chorged ond not collected by debiting Profitond Lossoccount, ond stop further
opplicotion of interest.However, bonks moy continue to record such occrued interestin o
Memorondum of occount in their books.For the purpose of computing GrossAdvonces,
interestrecorded in the Memorondum of occount should not be token into occount. As
the Bonks ore not toking in to occount the interest recorded in Memorondum, the
Compony hos not Bookedexpensesof interestin lhe Booksof the Compony.
T h eM e e t i n gw o s e n d e d o f 0 4 . 1 5p . m .
Thonkingyou,
YoursFoithfully,
FoT,PRADIP
OVERSEAS
LIMITED

2r<4"u7a-{( K.B.KAPAD|A1
ComponySecretory
FCS4834

213.Guiarat,
lNDlA.
Changodar,
Ahmedabad-382
Vasna,
Sa*hejBavlaHighrvay,
Regd.Oflice: lfi, 105,105,ChadErwadi,
Opp.ZydusCadila,
polexports@gmail.com
pol.office@9mail.com,
: exim@pradipove6eas.com,
Telefax
Telefax
: 02717-294130,251861
E-mail
: 02717- 29110,294112

D .Roads,
E R S E ALSTCross
P R A D I PO VNarnarayan
Swastik
Complex,

CfN NO.:- LL7290GI2005PLC0

46345

CorporateOffice : A/601,
- 380 009.Gujarat,INDIA'
Ahmedabad
Navrangpura,
2643t594Fax: 0091-79-26420408
Phone: 0091-79-26560630,
Website: www.pradipoverseas.com

PRADIPOVERSEASLIMITED
Regd.office:10{105/,|06,Chancharwadi,Vasna,opp.ZydusCadi|a,sarr
CIN:L17290GJ2005P1C046345
WebSite : WWW.PRADIPOVERSEAS.coM

UnauditedStanda|oneFinancia|Resu|tsoftheCompanyforthequarterandHatryea
Particulars

Quarter ended

Six Months ended

Year ended

30.09.2016 30.06.2016 30.09.2015 30.09.2015 30.09.2015 31.03.2016

(Unaudited) (Unaudited)

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

PART I

Income From Operations

1. (a) Net Sales/lncomefrom Operations(Net ol
exciseduty)
(b) OtherOperatingIncome
Total Income from Operations (net)

3,460.39

3,858.72

3450.39 3,858.72
2,300.89

1348.03

b. Purchaseof stock-in{rade (Trading in Grey

Fabrics)
c. Purchase/Conversionof Land into Stock in
trade
d. Changesin inventoriesof finishedgoods,
work-in-progressand stock-in{rade
e. Employeesbenefitexpense
f. Depreciationand amortisationexpense
g. Otherexpenditure
1"otal Expenses

7,3L9.71

11,349.60

23.768.14

6,t24.9I

7,3t9.LL

11,349.60

23,768.14

I,OL7,T7

3,648.93

2,101.7

24,917.20

Expenses
a. Cost of materialsConsumed

6,L24.97

Profit / (Loss) from Operations before Other

Income, Finance cost and Exceptional ltems
(1-21
OtherIncome

5,549.02

Q84.02
98.75
243.49
2,251.96
4611.08

(1,150.69)

40.83

L80.42
3,054.34
100.94
12L.63
241.01
175.93
1 , 9 3 1 . 9 7 2,370.99

3,802.37 L2,2gg.g7
56.35

63.06

(6,164.06)

32.53

9,050.02

(103.60) 4,269.40

5,050.69

199.69
484.50
4,193.93
8,413.45

4,382.3C 3 4 , 1 8 3 . 6 9
20.386.43 6 5 , 4 3 8 . 3 3

(1,094.34)

(9,036.83) ( 4 1 , 6 7 0 . 1 9 )

103.89

236.08

432.78

346.88

853.97

1,718.35

1.667.86

ProfiU(Loss)from ordinary activities before

finance costs and Exceptional ltems (3+4)

(1,L09.85)
Financecosts

7
B

ProfiU(Loss)from Ordinary activities after

finance costs but before Exceptional ltems
(5-6)
Exceptionalitems/PriorPeriod ltems

10

ProfiU(Loss) from Ordinary Activities before

tax (7+8)
Tax Expense

11

Net ProfiU( Loss) from Ordinary Activities

12
13
14
15
16

17

TLg.4L
23L.98

(6,131.53)

143.99

(1,253.84)

rL2.s7)

(9,975.91

(1,253.84)
(387.76)
(866.0e)

(Lt2.s7l
(37.s2)

3,844.39

(ss0.4s)

(7,318.48) (40,002.33)

375.97

7,260.59

1,007.68

(1,366.42) (14,579.07) ( 4 1 , 0 1 0 . 0 1

(9,975.91) (t,366.42) (74,579.07) ( 4 1, 0 1 0 . 0 1 )

(707.2L)
(42s.28) ( 1 , 1 7 2 . 1 4 ) (12,912.40)
(7s.05) (s,268.70)
(e41.14) (13,406.94) (28,0e7.61)

Extraordinaryltem (net of tax expense)

Net ProfiU(Loss)for the period (11-12)

(866.0s)

(7s.0s)

(866.0e)

(7s.0s) (9,268.701 (s4L.r4)

(9,268.70l'

(13,406.e4) (28,0e7.61)

(94L.14)

Share of ProfiU(Loss)of associates

MinorityInterest
Net Profit / (Loss) after taxes, minority
interest and share of profit / (Loss) of
associates (13-14-15)*
Paid-up equity share capital (Face Value of
the Share shall be indicated)

18

Reserveexcluding Revaluation Reserves as

per balance sheet of previous accounting
year

19.i

Earning per share (before extraordinary

items) (of Rs. 10/- each)(not annualised )
Basic and Diluted

19.ii

Earningpershare(afterextraordinary
items)
(of Rs.101each)(not
annualised) Basicand
Diluted

4,844.02

4,844.02

4,844.02

(13,406.94) ( 2 8 , 0 9 7 . 6 1 )

4,844.02

4,844.02

4,844.02

(71,541.13)

A
tl\
\o"l.

N.-

)s

(58.00)

(58.00)

/
-/,u

sF4u

Che
Vasna,Opp.ZydusCadila,SarkhejBavlaHighway,
Regd.Office : 104,105,106,Chacharwadi,
p0l.onlcet
251861E-mail: exim@pradipoverseas.com
Telefaxi 02717- 294110,294tt} Telefax: 027L7-294130,

INDIA.
rd-382213.Gujarat,
com,polexports@gmail.com

(*^
CINNO.:- Ll729OGt2005PtC0
46345

D I PO V E H S E ALST D .

CrossRoads,
Swastik
Complex,
CorporateOffice: A/601,Narnarayan
- 380009,Gujarat,
INDIA.
Ahmedabad
Navrangpura,
Fax: 0091'79-26420408
26431594
Phone: 0091-79-26560630,
: www.pradipoverseas.com
Website
Notes:4

Theaboveresu|tswerereviewedbytheAuditcommitteeandapprovedovtneaoashe|don10thNovember7orG.

Previousperiod figures have been regrouped/reclassified,whenever necessary,io

Thefiguresofthe|astquarterareba|ancingfiguresbetweenauditedfiguresinresFe
quarter of the respective financial years.

TheCompany
is engagedin onesegmentonlyi.e.Textile.
Ploce : Ahmedobod

tOR, pRADlpOVERSEAS
ilMtTED

/\ r

-irv ^
-*J

f \Tv-'-"*V

Dote

:l0fh November,20l6

.,) )
\--1

( P R A D I PJ . K A R I A )
CHAIRMAN& MANAGTNGDTRECTOR DtN No. OO12A74B

Regd.Oftrc: 1fi, 105,105,Chacharwadi,

Ahmedabad-382
INDIA.
Vasna,
Opp.ZydusCadila,
Sarkhej
BavlaHighway,
Oangodar,
213.Gujarat,
'.027L7-294130,251861
pol.ofice@9mail.com,
polexports@gmail.com
Telefax
: 02717- 294110,
Telefax
294112
E-mail
: exim@prddipoverseas.om,

46345
CINNO.:- LL729OGI2005PLC0

tdD
\ p R A D I PO V E R S E ALST D .

CrossRoads,
Swastik
Complex,
CorporateOffice: A/601,Narnarayan
- 380009.Gujarat,
INDIA.
Ahmedabad
Naviangpura,
Fax: 0091'79'26420408
26431594
Phone: OOgt-Zg-26560630,
Website: www.pradipovcrseas.com

PRADIPOVERSEASLIMITED
Regd'office:104l105l106,Chancharwadi,Vasna,onn.zyo
Ahmedabad - 382 2'13
CIN:LI729OGJ20O5PLCO46345 Web Site :
WWW.PRADIPOVERSEAS.COM
UnauditedStandaloneFinancial Resutts of the Company for the quarter and half year ended 30th September,
2016

STATEMENT
OFASSETS
AND LIABILITIES

Sr.No Particulars
A
EQUIWAND LIABILITIES
1 Shareholders'
funds
( a )S h a r eC a p i t a l
(b) Reserves
and surplus
Subtotal-Shareholders'
funds
2 Non-currentliabilities
(a) Long-termborrowings
(b) Long-termprovisions
Sub-total- Non-currentliabilities

3 Currentliabilities
borrowings
la) Short-term
(b)Tradepayables
( c ) O t h e rc u r r e n tl i a b i l i t i e s
(d) Short-termprovisions

Sub-total- Currentliabilities
TOTAL. EQUITYAND TIABILITIES
ASSETS

Standalone
As at half year
ended
30-09-2016
(Unaudited)

(Rs.In takhs)
As at previous
year ended
31-03-2016
(Audited)

8,742.02

8,742.02

(72,482.27)

(7t,541,.1,3)

(63,740.261

(62,799.ttl

1L8,369.77
47.06
tL8,4L5.92

109,497.07
47.06

to8,544.t2

25,773.3L

25,531.63

3,249.I4
624.63

3,222.36

233.14
29820.22

L1,,064.16

37.23

84,495.79

39855.39
85,600.40

(a) Fixedassets

12,1,90.79

L2,467.42

(c)Non-current
investments
(d)Deferred
tax assets(net)

L9,402.71

t Non-current
assets

(e) Long-termloansand advances

(f)Othernon-current
assets(Capital
Work-inProgress)
Sub-total- Non-currentassets

0.00

0.00
1.8,977.43

1,530.65

L,687.54

76r.79

7 61.79
33894.17

33875.93

2 Currentassets
(a) Inventories
(b)Tradereceivables
( c )C a s ha n d c a s he q u i v a l e n t s
(d) Short-termloansand advances

Sub-total- Currentassets
Total -Assets

8,954.05
40,648.24
329.O4

688.s3
50519.96
84495,79

LL,771.49
39,359.51
125.74
449.48

5t706.23
85,600.40

ffiffi
qyl

INDIA.
213.Gujarat,
Ahmedabad-382
Changodar,
sa*hejBavlaHighway,
Vasna,
Opp.ZydusCadila,
Regd.Office: 104,lO5,105,Chadlarwadi,
polexports@gmail..o
pol.office@gmail.com,
: xim@pradipoverseas.com,
Telefax
: 02717-294L30,251861
E-mail
294112
Telefax
: 02717, 294110,

lvhok

& eo

C H A R T E R E D A C C O U N T A N T S
Head Office : A1602,NarnarayanComplex,Near SwastikCross Road, Navrangpura,
Ahmedabad- 380 009.
P hone: ( O ) 0 7 9 -2 6 4 4 8 2 5 5 ,2 6 5 6 4 3 4 3 (M): t91 9426001221E -mai l :ashokdhari w al 2OO4@ ya hoo.
inco

I N D E P E N D E N TA U D I T O R S ' R E V I E W R E P O R T
TO THE BOARD OF DIRECTORS OF
P R A D I P O V E R S E A SL I M I T E D

1. We have reviewed the accompanyingStatement of Unaudited Financial Results of

PRADIP OVERSEAS LIMITED ("the Company")for the quarter and six months ended 3oth
September, 2015 C'the Statement"), being submitted by the Company pursuant to the
Requirements)
requirements
of Regulation33 of the SEBI(ListingObligationsand Disclosure
dated July 5, 2016.
Regulations,2015, as modified by Circular No. CIR/CFD/FAC/62/2O16
This statement is the responsibilityof the Company'sManagementand has been approvedby
the Board of Directors. Our responsibilityis to issue a report on these financial statements
basedon our review.
2.

We conducted our review of the Statement in accordancewith the Standard on Review

Engagements (SRE) 2410, 'Review of Interim Financial Information performed by the
IndependentAuditor of the Entity', issued by the Institute of CharteredAccountantsof India.
This standard requiresthat we plan and perform the review to obtain moderate assuranceas
to whether the. financial statements are free of material misstatement, A review is limited
primarilyto inquiriesof Companypersonneland analyticalproceduresappliedto financialdata
and thus provide less assurancethan an audit. We have not performed an audit and
we do not expressan audit opinion.
accordingly,

3.

Basis for Qualified Conclusions

Due to defaults in payment of bank loans,the Company'saccountshave been classifiedas Non
PerformingAssets (NPA) by the banks. Most of the banks have not charged interest on the
Company'sborrowings/ loans,Duringthe periodunder review,no provisionhas been made
for such interest in the books of accounts of the company and to that extent bank's loan
liabilityand total lossis understatedby Rs.42.11 Cr.

4,

Basedon our review conductedas above, except for the effect of the matters stated in Basis
nothing has come to our noticethat causesus to believethat the
for QualifiedConclusions,
accompanyingStatement, prepared in accordancewith the AccountingStandardsas specified
Act, 2013, readwith relevantrulesissuedthereunderand
underSection133 of the Companies
other recognizedaccountingpracticesand policies,has not disclosedthe informationrequired
to be disclosedin terms of Regulation33 of the SEBI (Listing Obligationsand Disclosure
Requirements)Regulations,2015, read with SEBI Circular No. CIR/CFD/FAC/62/2016dated
or that it containsany material
July 5, 2016 includingthe mannerin whichit is to be disclosed,
misstatement.

Branch Office : 20-CAngelica,Cosmos Lounge,Manpada,Thane (W) - 400 607.

l
(M ) : + 9 1 9 0 2 9 006101E -mai l : dhari w al _sh@ hotmai
com

/-vhok

& eo

C H A R T E R E D A C C O U N T A N T S
Head O ffi c e : A1 6 0 2N, a rn a ra y a nC o mpl ex,N ear S w asti kC rossR oad,N avrangpura,
A hmedabad- 380 009.
Phone : (O) 079 - 2644 8255,2656 4343 (M) : +91 9426001221 E-mail : ashokdhariwal2004@yahoo.co
in

5.

We draw attention to the fact that State Bank of India, AllahabadBank and Karur Vyasa Bank
have assignedtheir debt to Invent Asset Securitisation& ReconstructionPvt. Ltd' ("Invent")'
The company has entered into settlement agreement with Invent on 29th July, 2015 for the
repayment of the said debts. In terms of the settlement agreement, if all the terms and
conditionsare fully compliedwith by the companyupto February,2021, there will be reduction
in debt, as per books of accountsof the company by Rs' 347'45 Cr'
ForAshokDhariwal& Co.
CharteredAccountants
(Registration
No. 100648W)
.-'rf )

*'A t4Pt""'-'
CA AshokDhariwal
Partner
No. 36452
Membership
D a t e : 1 O t hN o v e m b e r ,2 0 1 6
P I a c e :A h m e d a b a d

Branch Office : 20-CAngelica,Cosmos Lounge,Manpada,Thane (W) - 400 607

(M ) : + 9 1 9 0 2 9006101E -mai l : dhari w al _sh@ hotmai
l
com