VEERAM SECURITIES LIMITED

Registered Office: Ground & First Floor, 7, Natvarshyam Co Op Ho S Ld

Opp. Orchid Park, Ramdevnagar Road, Sattelite, Anmedabad 380051 GJ IN
CIN: L65100GJ2011PLC064964 —Ph:9925266150 Email Id: [email protected]

Date: May 29", 2023

To
The Corporate Relations Department
BSE LIMITED
PJ Towers, 25th floor, Dalal Street,
Mumbai -400 001

Sub.: Outcome of Board Meeting

BSE Code.: (Scrip Code: 540252)

Ref: Submission of Audited Financial Results for the Financial Year ended on 31°t March,
2023 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements)
Regulation, 2015

Dear Sir/ Madam,

Pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015, we would like to inform you that the Board of Directors of the Company at
their meeting held on Monday, 29** May, 2023 has decided the following matter:-

1. Considered and approved the audited financial results of the Company for the financial year
ended on 31° March, 2023.

We hereby enclose the following:

I. Audited Financial Results (Standalone) for the financial year ended on 31% March
2023.
I. Audit report for the financial year ended on 31st March 2023.
Il. Declaration Regarding Audit report with unmodified/unqualified opinion.

The meeting commenced at 05:00 p.m. and concluded at 09:00 p.m.

Please take the same on your records.

Thanking you,

Yours faithfully,

For, Veeram Securities Limited

MAHENDRABHAI _ Disitaly signed by
MAHENDRABHAI RAMNIKLAL SHAH
RAMNIKLAL SHAH ate:2023.05.29 20:52:53 -04'00'

Mahendrabhai Ramniklal Shah

Managing Director
DIN: 03144827
 BHAGAT & CO.
Chartered Accountants
24 Laxmi Chambers, Navjeevan Press Road,
Nr. Old High Court, Income Tax, Ahmedaba
d — 380014
Emailid: [email protected], Tel.
079/48988866, Mob: 9998040610

Independent Auditor's Re port

(Unmodified Opinion) on AuditedStandalone
Quarterly Financial Results and
year to date results of the Compan
Regulation 33 of the SEBI y, Pursuant to
(Lis ting Obligations and Disclosure
Regulations, 2015, Requirements)

INDEPENDENT AUDITOR'S
REPORT
TO THE BOARD OF DIRECT
ORS OFVEERAM SECURITIES
LIMITED
Report on the audit
of the Standalone Financial Resu
Opinion. lts

date results for the period from 1st

April, 2022 to 31st March , 2023, attac
submitted by the company pursua hed herewith, being
nt to the re quirement of Regulation 33of
Obligations and Disc] osure Requi the SEBI (Listing
rements) Regulations, 2015, as
Regulations”). amended (“Listing

In our opinion and to the best of our

information and according to the expl
us these standalone financial results: anationsgiven to

i. presented in accordance with the

requirements of Regulation 33 of theLi
Regulations in this regard; and sting
i. Give a true and fair view in conformity with the recognition
measurementPrinciples laid down and
in the applicable accounting standard
otherAccountingprinciples generally s and
accepted in India of the net profit/los
otherCom prehensive income and other financial ss and
information for the quarter ended
31st March, 2023 as wellas the year
to date results for the period from1
to 31st March, 2023, st April, 2022

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing

section 143(10) of the Companies Act, (SAs) specifiedunder
2013 (the Act). Our responsibilities
Standards are further described in the under those
Auditor’s Res
Standalone Financial Results section of our re
accordance with the Code of Ethics issued byt
e relevant to our audit of the fina
under the provisions of the Companies ncial results
Act, 2013 and the Rules thereunder,
fulfilled our other ethical responsibilitie and we have
s in accordance with these requirements
Code of Ethics. We believe that the and the
audit evidence we have obtained is
appropriate to provide a basis for our Opinion, suffi cient and
Management's Responsibilities for the Standalone Financial Results

These quarterly financial results as well as the year to date standalone financial results have
been prepared on the basis of the interim financial statements. The Company’s Board of
Directors are responsible for the preparation of these financial results that give a true and
fair view of the net profit/loss and other comprehensive income andother financial
information in accordance with the recognition and measurementprinciples laid down in
Indian Accounting Standard 34, ‘Interim Financial Reporting’prescribed under Section 133
of the Act read with relevant rules issued thereunderand other accounting principles
generally accepted in India and in compliance withRegulation 33 of the Listing Regulations.
This responsibility also includesmaintenance of adequate accounting records in accordance
with the provisions of the Act for safeguarding of the assets of the Company and for
preventing anddetecting frauds and other irregularities; selection and application of
appropriateaccounting policies; making judgments and estimates that are reasonable
andprudent; and design, implementation and maintenance of adequate internalfinancial
controls that were operating effectively for ensuring the accuracy andcompleteness of the
accounting records, relevant to the preparation and presentationof the standalone financial
results that give a true and fair view and are free frommaterial misstatement, whether due
to fraud or error.

In preparing the standalone financial results, the Board of Directors are responsible for
assessing the Company’s ability to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless the
Board of Directors either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company’s financial
reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial
results as a whole are free from material misstatement, whether due to fraud or error, and
to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level
of assurance, but is not a guarantee that an audit conducted in accordance with SAs will
always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably
be expected to influence the economic decisions of users taken on the basis of these
standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment andmainta

in
professional scepticism throughout the audit. We also:

* Identify and assess the risks of material misstatement of the standalone

financialresults, whether due to fraud or error, design and perform audit
proceduresresponsive to those risks, and obtain audit evidence that is sufficien
t
andappropriate to provide a basis for our opinion. The risk of not
detecting a
materialmisstatement resulting from fraud is higher than for one resulting
from
error, as fraud may _ involve collusion, forgery, intentional omissions,
misrepresentations, or the override ofinternal control.
oh AN2
 relevant to the audit in order to
© Obtain an understanding of internal control
the circumstances, but not for the
designaudit procedures that are appropriate in
tiveness of the company’s internal
purposeof expressing an opinion on the effec
control.

Evaluate the appropriateness of acc ountin

g policies used and the reasonableness of
e
by the Board of Directors.
accounting estimates and related disclosures ma de

appropriateness of the Board of Directors’ use of the going

Conclude on the
obtained, whether a
concernbasis of accounting and, based on the audit evidence
cast significant
materialuncertainty exists related to events or conditions that may
concern. If we conclu de that a
doubt onthe Company's ability to continue as a going
's report
materialuncertainty exists, we are required to draw attention in our auditor
disclosures in the financial results or, if such disclosures are
to therelated
ce
inadequate, tomodify our opinion. Our conclusions are based on the audit eviden
events or conditions
obtained upto the date of our auditor's report. However, future
may cause the Company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the standalone financial
the
results, including the disclosures, and whether the financial results represent
underlying transactions and events in a manner that achieves fair presentation.

matters, the
We communicate with those charged with governance regarding, among other
nt audit findings, including any
planned scope and timing of the audit and significa
significant deficiencies in internal control that we identify during our audit.

have complied
We also provide those charged with governance with a statement that we
cate with them
with relevant ethical requirements regarding independence, and to communi
to bear on our
all relationships and other matters that may reasonably be thought
independence, and where applicable, related safeguards.

For,Bhagat&Co.
Chartered Accountants
‘GL i

Shankar Prasad Bhagat

Place: Ahmedabad Membership No.:052725
Date: 29.05.2023 Partner
UDIN23052725BGWWCO07840
 VEERAM SECURITIES LIMITED
CIN: L65100GJ2011PLC064964
Ground Floor & First Floor, 7, Natvarshyam Co Op Ho So Ltd, Opp. Orchid Park, Ramdevnagar
Road, Sattelite, Vejalpur, Anmedabad, Gujarat, 380051
STATEMENT OF ASSET & LIABLITIES AS ON 31st March, 2023
Year Ended Year Ended
Particulars
31-03-2023 31-03-2022
Audited (in lakh) Audited (in lakh)
ASSETS
(1) Non-Current Assets
(i) Property, Plant And Equipment 1,099.26 1,038.78
(ii) Intangible Assets
(iii) Capital Work in Progress
(iv) Intangible assets under development
Non-Current Financial Assets

( a) Non-Current Investments

( b) Trade Receivables, Non-Current

( c) Loans, Non-Current
( d) Other Non-Current Financial Assets
Deffered tax assets (net) 1.15 1.15
Total Non Current Assets 1100.41 1039.93
(2) Current Assets
Inventories 884.37 744.50
Current Financial Assets

( a) Current investments 0.24 28.85

( b) Trade receivables
( c) Cash and cash equivalents 20.81 8.40
( d) Bank Balance other than Cash and cash equivalents
( e) Loans, Current
( f) Other Current Financial Assets
Total Current Financial Assets
Current Tax Assets (net)
Other Current Assets 29.26 25.88
Total Current Assets 934.68 807.63
Total Assets 2035.09 1847.56
EQUITY AND LIABILITIES
(1) Equity
Equity Share Capital 1512.82 1008.54
Other Equity 447.1 779.47
Total Equity 1959.92 1788.01
(2) Liabilities
Non-Current Liabilities
Non-Current Financial Liabilities
(a) Borrowings , non current
(b) Trade Payables , non current
(c) Other non current financial liabilities
Total Non-Current Financial Liabilities
Provision, non current
Deffered tax liabilities (net)
Other non current liabilities
Total Non-Current Liabilities 0.00 0.00
Current Liabilities
Current Financial Liabilities
(a) Borrowings , current
(b) Trade Payables, current
(i) Total Outstanding dues of Micro Small & Medium
Enterprises
(ii) Total Outstanding dues of creditors other than Micro
Small & Medium Enterprises 0.89
(c) Other current financial liabilities
Total Current Financial Liabilities
Other Current liabilities
Provision, current 74.28 59.55
Current tax liabilities (net)
Total Current Liabilities 75.17 59.55
Total Liabilities 75.17 59.55
Total Equity and Liabilities 2035.09 1847.56

Date: 29.05.2023 By order of the Board of Directors

Place: Ahmedabad Zouk ri For , Veeram Securities Limited

MEISE :
MAHENDRABHAI RAMNIKLAL SHAH
MANAGING DIRECTOR
DIN: 03144827
 VEERAM SECURITIES LIMITED
CIN: L65100GJ2011PLC064964
Ground Floor & First Floor, 7, Natvarshyam Co Op Ho So Ltd, Opp. Orchid Park, Ramdevnagar Road, Sattelite, Vejalpur, Anmedabad, Gujarat, 380051
STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED ON 31st March, 2023

Quarterly Ended Year Ended

Sr.No Particulars For the Qtr Ended on For the Nine Month| For the Qtr Ended on Year Ended on| Year Ended on
, 31.03.2023} Ended on 31.12.2022 31.03.2022 31/03/2023 31/03/2022

Audited Unaudited Audited Audited Audited

I Revenue from operations 307.58 1560.62 397.78 1868.20 1819.49

Il Other Income -44.38 61.03 78.63 16.65 232.01
Ml Total Revenue (I +II) 263.20 1621.65 476.41 1884.85 2051.50
IV Expenses:
Cost of materials consumed
Purchase of Stock-in-Trade 303.10 1,441.26 178.41 1,744.36 1,607.21
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade -79.62 (60.25) 189.64 (139.87) (48.29)
Employee Benefit Expense 2.78 11.74 15.52 14.52 16.75
Financial Costs 0.00 0.04 0.04 0.04 0.09
Depreciation and Amortization Expense -1.26 6.27 4.17 5.01 6.71
Other Expenses 1.08 27.81 -6.89 28.89 20.51
Total Expense 226.08 1426.87 380.89 1652.95 1602.98

v Profit before exceptional and extraordinary items and tax 37.12 194.78 95.52 231.90 448.52

vi Exceptional Items - -

Vil Profit before extraordinary items and tax (V - VI) 37.12 194.78 95.52 231.90 448.52

Vill Extraordinary Items

IX Profit before tax (VII - VIII) 37.12 194.78 95.52 231.90 448.52

xX Tax expense:
(1) Current tax -3.99 56.99 15.00 53.00 50.00
(2) Deferred tax

XI Profit(Loss) from the perid from continuing operations 41.11 137.79 80.52 178.90 398.52
Less: Dividend
Less: Tax on Dividend

Xil Balance carried Forward to Balance Sheet 41.11 137.79 80.52 178.90 398.52

Xi Paid-up Equity share capital (at par Value of Rs.10 each) 1512.82 1512.82 1008.54 1512.82 1008.54

XIV Reserves excluding revaluation reserves

XV a)Earning per equity share before Exceptinal items

(1) Basic 0.05 0.18 0.80 0.24 0.79
(2) Diluted 0.05 0.18 0.80 0.24 0.79

b)Earning per equity share after Exceptinal items

(1) Basic 0.05 0.18 0.80 0.24 0.79
(2) Diluted 0.05 0.18 0.80 0.24 0.79
Notes:
1). The above Financial Results were reviewed by the Audit Committee and Approved by the Board of Directors at their respective Meeting held on 29th May, 2023
2) The Company's business activity fall within a singal primary business segment.
3). Previous year's figures are re-grouped, re-classified wherever necessary.

ne By order of the Board of Directors

=. For, Veeram Securities Limited

Mahendrabhai Ramniklal Shah

Date: 29.05.2023 Managing Director
Place: Ahmedabad DIN: 03144827
 VEERAM SECURITIES LIMITED
CIN: L65100GJ2011PLC064964

Ground Floor & First Floor, 7, Natvarshyam Co Op Ho So Ltd, Opp. Orchid Park, Ramdevnagar Road, Sattelite,
Vejalpur, Ahmedabad, Gujarat, 380051
CASH FLOW STATEMENT OF FINANCIAL YEAR ENDED ON 31ST MARCH, 2023
(Rs. In Lacs)

PARTICULARS Year ended 31 March 2023 | Year ended 31 March 2022

A. Cash Flow from Operating Activity - -

Profit before Taxation and Extra Ordinary Items 231.90 448.52
Add : Non Cash & Non Operating Expenses
Depreciation 5.01 6.71
Interest Expenses 0.04 0.09
Interest Income 0.00 -2.83
Gain On MCX 0.00 -54.43
Dividend income
Other Income 16.65 -84.10
Realized Gain on Shares 0.00 -90.65
Operating Profit before Working Capital Changes 253.60 223.31
Adjustment for;
(Increase) / Decrease in Inventory -139.87 -48.30
(Increase) / Decrease in Debtors - 0.00
Increase/(Decrease) in Trade Payables 0.89 0.00
(Increase)/ Decrease in Loans & Advances - 0.00
(Increase) / Decrease in Current Assets -3.38 330.82
Increase/ (Decrease) in Current Liabilities & Provisions 0.00
Increase/ (Decrease) in Short Term Provisions 14.73 -13.84
Increase/ (Decrease) in Current Investment 66.77 19.75
Cash Generated from Operation 192.74 511.74
Taxes Paid 53.00 50.00
Net Cash Flow from Operating Activities 139.74 461.74

B. Cash Flow from Investing Activity

(Increase) / Decrease in Fixed Assets (net) -60.48 -814.58
(Increase) / Decrease in Investments & Accured Interest
(Increase) / Decrease in other Non current Investments
Other Gain -16.65 174.75
Gain on MCX 0.00 54.43
Interest Income 0.04 2.83
Net Cash Flow from Investing Activities -77.09 -582.57

C. Cash Flow from Financing Activity

Proceeds from Issue of Shares
Proceeds from Securities Premium
Increase/ (Decrease) in Short term Borrowings
Increase/ (Decrease) in Long term Borrowings
Finance Cost Paid -0.04 -0.09
Adjustment of earlier in Retained Earning -50.20 -50.20
Net Cash Flow from Financing Activities -50.24 -50.29

Net Increase / (Decrease) in Cash & Cash Equivalents 12.41 -171.12

Opening Balance of Cash & Cash Equivalents 8.40 179.52
Closing Balance of Cash & Cash Equivalents 20.81 8.40
Net Increase / (Decrease) in Cash & Cash Equivalents 12.41 -171.12

By order of the Board of Directors

For, Veeram Securities Limited

Mahendrabhai Ramniklal Shah

Date: 29.05.2023 Managing Director
Place: Ahmedabad DIN: 3144827
 VEERAM SECURITIES LIMITED
Registered Office: Ground & First Floor, 7, Natvarshyam Co Op Ho S Ld
Opp. Orchid Park, Ramdevnagar Road, Sattelite, Anmedabad 380051 GJ IN
CIN: L65100GJ2011PLC064964 Email Id: [email protected] Mo.No.9925266150

DECLARATION

(Pursuant to Regulation 33 (3) (d) of the SEBI (Listing Obligations and

Disclosures Requirements) Regulations, 2015)

Pursuant to the proviso to regulation 33 (3) (d) of SEBI (Listing Obligations and
Disclosures Requirements) Regulations, 2015 as amended, We, Veeram Securities
Limited, having its Registered office situated at Ground & First Floor, 7, Natvarshyam Co
Op Ho S Ld Opp. Orchid Park, Ramdevnagar Road, Sattelite, Anmedabad 380051 GJ IN, do
hereby declare and confirm that the Audit Report issued by Statutory Auditor of the
Company M/s. Bhagat & Co., Chartered Accounts, (Firm Registration Number: 127250W)
on the Annual Audited Standalone Financial Results for the year ended 31st March, 2023
is with Unmodified Opinion(s) and accordingly the statement on impact of audit
qualification is not required to be given.

Yours faithfully,

For, Veeram Securities Limited

Mahendrabhai Ramniklal Shah

Managing Director
DIN: 03144827