REF: CIL/CC/BSE-31/2015-16^ ^'

February 13, 2016C R OIC G

To,
The Department of Corporate Services,
The BSE Limited,
P.J. Towers,
Dalai Street,
Mumbai - 400 001
Sub: Outcome of Board Meeting held on 13th Feb. 2016.

Scrip Code: 531358

Dear Sir/Madam,
The Board of Directors of the Company at its meeting held on February 13, 2016, interalia, has considered and
transacted the following business:
1.The Board has considered and adopted the Un-audited Financial Results for quarter and Nine
Months ended on December 31,2015 and has noted the Limited Review Report of Auditors thereon.
2.The Board considered and approved fresh issue of 1,00,00,000 ( One Crore) warrants on preferential
basis to Promoters at a price of Rs. 40/= ( Rupees Forty ) each as per SEBI (Issue of Capital and
Disclosure Requirement) Regulation 2009 and subject to the approvals of Shareholders and any
regulatory authorities, as may be required. Each warrant is convertible into one Equity Shares at any
time after its allotment but not later than Eighteen Months. The Board also approved the
corresponding increase in Authorized Share Capital of the Company.
3.The Board has decided to convene the Ex^raordinary General Meeting of the Company on Tuesday,
15th March 2016 for the approval of the Preferential Issue of Warrants as stated herein above and
consequent alteration of Capital Clause in the Memorandum and Article of Association of the
Company as per the Companies Act, 2013 & SEBI (Issue of Capital and Disclosure Requirement)
Regulation 2009 & other applicable statutory provisions. The Board has approved the Draft Notice for
calling the Extraordinary General Meeting.
Accordingly , the relevant date for the pricing of the aforesaid preferential issue of Warrants to be
converted in to Equity Shares in terms of SEBI (ICDR) Regulation, 2009 is 13th February 2016.
4.The Board has considered and approved Policy on Preservation of Documents and Policy on
Materiality of Events for the Company.
The above is for your information and dissemination to the shareholders.

End: Results for the Quarter and Nine Months ended December 31,2015

Choice International Limited

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri (East), Mumbai - 400099.
Tel. *91-22-6707 9999 Email Id: info@choiceindia.com www.choiceindla.com, CIN:L67190MH1993PLC071117

Choice
Sr.No.

Statement of Consolidated Unaudited Financial Results for theQuarter and Nine Months Ended December 31,2015
Particulars
Quarter ended
Nine Months Ended
Unaudited
31.12.2014
31.12.2015
3049.2015
31.12.2014
31.12.2015
ncome from Operations
;a) Income from Operations/ Sales
3281.58
2972,14
1458.62
9428.91
3824.45
Total Income from Operations (Nat)

Year Ended
Audited
31.03.2015
5413.72

3436.05

3090.65

1500.61

9791.24

3927.06

5669.97

233740

1750.17

843.19

6292.96

1561.40

2662.75

1.74

150.19

(374.52)

35.68

(318.59)

(622.22)

371.62
52,17
191.8C
2954.73

375.22
51.26
137.27
2464.11

405.56
59.36
72.69
1OO6.3C

1255.67
153.27
42246
8160.04

1069.26
179.36
188.15
2679.51

1250.21
22745
323.36
3841.55

481.36
66.47

626.54
10E.0C

494.31
92.97

1631.20
251.72

1247.48
306.13

182842
519.43

54743
462.02

73244

587 28

1882 92

1553 51

8541

217.30

135.27

446.26

28640

78.81

42.83

159.09

113.62

92.44

287.17

172.98

469.83

92.44

172.9E
0.0C
o.oc

469.83

O.OC

287.17
13.73
0.00

; Expenses
(a) Operational Cost / Purchase of Stock in Trade
(b JChanges in inventories of finished goods, work
c) Personnel Expenses
'd) Depreciation and Amortisation Expense
'e) Administrative & Other Expenses
Total Expenses
Profit/(Loss) from operations before other
Income, finance costs and exceptional Items (12)
t Other Income
Profit/doss) from ordinary activities before
finance Cost and exceptional Items 13*4)
Profit/!Loss) from ordinary activities after
finance Cost but before exceptional Items (5-6)
62740

Profit/(loss) from Ordinary Activities before Tax

10 rax Expenses
Net Profit/I Loss) from Ordinary Activities after
n Tax (9-10)
12 Extra-Ordinary Items (net of Tax expense)
i; Net Profit/1 Loss) for the period (11-12)
Share of profit/(loss) of associates
15 Minority Interest
Net Profit after taxes, minority interest and
16 share of profit of associates
Paid Up Equity Share Capital (Face Value Rs 10/-)

23.65
62.16
62.16
6.76
O.OC

0.0E
138.4:
0.9E
0.0(

68.92

139.41

9244

300.90

172.98

510.06

1000.48

1000.48

100048

1000.48

1000.48

1000.48

0.00

18
Reserves excluding Revaluation Reserve as per
Balance Sheet of Previous Accounting Year

5.038.96

19
(1) Earnings per Share(EPS) (before Extra
Ordinary Items) (of Rs 10/- each)(nol annuallsedl
a) Basic

0.69
0.69

1.35
1.3S

0.92
0.92

3.01
3.01

1.72
1.73

5.10

0.69
0.69

1.3E
1.39

0.92
0.92

3.01
3.01

1.73
1.73

5.10
5.10

20
(ii) Earnings per Share(EPS) (after Extra Ordinary
itemsHof Rs 10/- each)(not annuelised)
^D.iuted

Choice International Limited

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri (East), Mumbai - 400099.
Tel. 4-91-22-6707 9999 Email Id: Info^choiceindia.com www.choiceindia.com, CIN:L67190MH1993PLC071117

"ft
Choice
or theQuarter and Wine Months Ended December 31.M15

Perc^ntage of Shares (as a % of the total share

apital of the company)

Percentage of Shares (as a ^ of the total

wehoiding of promoters and promoter group)

beginning of the quarter

Received during the quarter
Disposed of during the quarter

Choice International Limited

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri (East), Mumbai - 400099,
Tel. +91-22-6707 9999 Email Id: info@choiceindia.com www.choiceindla.com, CIN:L67190MH1993PLC071117

^A
Choice
Sr.No

Particular!
Unaudited

Segment Revenue
a. Jroking Services
b. nvestment Banking Services
c. ^utsourcing Services
VBFC & Other Services
^Commerce Services
Total
.ess: Inter Segment Revenue
Yet Income from Operations
2 Segment Results Profit/floss) before tax and
Sroklng Service!
b. nvestment Banking Services
c. ^utso^rcing Services
d.
e. ^-Cnmmerce Services
Total
.ess: Finance Cost
Other Unallocable Expenditure Net Off
Add: Unallocable Income

Ouarter Ended
Unaudited

1103.68
197.22
1435.09
749.85
0.00
3485.84
49.75
3436.09

1307.65
245.69
817.93
869.25
0.00
3240.52
149.87
3090.65

(17.10)
126.48

150.17
51.57
(1.591

Unaudited

743.13
296.3C
306.98
203.78
0.0C
1550.19
49.58
1500.61

Year Ended
Audited

Nine Months Ended

Unaudited
Unaudited

3S22.4S
569.94
3654.16
2293.98
0.0C
10040.53
249.25
9791.24

2210.70
600.21
735.52
603.62
0.00
4150.0S
222.99
3927.06

90.61

(53.33)
166.03
0.00
80.23
0.00

292.5S
0.00
75.25
0.00

18.80
38.81
O.OC
199.59
0.0C
64.32
0.0C

3012.45
1234.62
830.28
865.24
0.00
5942.59
272.62
5669.97

444.1J
288.52
71.68
(53.33!
676.0C
0.0C
229.75
0.0C

S7.3B
0.00
481.87
0.00
195.27
0.00

108.64
146.31
0.00
888.32
0.00
260.92
0.00

1 Capital Employed (Segment assets-Segment

liabilities)
Notes:
1.The aforesaid consolidated financial results were reviewed by the Audit Committee of the Boa
the Company at its meeting held on February 13, 2016. The financial results for the quarter
reviewed by the Statutory Auditors of the Company.
2.The above consolidated results includes the results of : Choice International limited and its subsidiaries namely: Choice Equity Broking Private
LimitedXhoice Consultancy Services Private Limited .Choice Capital Advisors Private limited .Choice Insurance Brokers Private Limited, Choice Wealth
Management Private Limited, Choice Merchandise Broking Private Limited, .Choice Corporate Services Private Limited, Choice E Commerce Private Limited
and share of profit from Associate namely: Aqua Pumps Infra Ventures Ltd, have been extracted from consolidated financial statements prepared in
accordance with the principles as set out in the Accounting Standard -21 and Accounting Standard-23.
3.Choice International and its subsidiaries operations predominantly relates to five business segments I.e. NBFC operations, broking services, investment
banking, outsourcing services & E-commerce Services. E-Commerce Segment has been started its operations under new wholly owned subsidiary of Choice,
international Limited ie. 'Choice E-commerce Private Limited1 in the current quarter,Business segments have been Identif ed as separable primary segment
in accordance with Accounting Standard 17" Segment Reporting' as prescribed under Companies (Accounting Standards)Rules.2006, taking Into account the
organisational and internal reporting structure as well as evaluation of risks and returns of these segments. The balance is shown as unallocated items.
4.Fixed Assets used in Company's Business or Liabilities have not been Identified to any reportable segment, as the fixed assets are used interchangeably
between segments. It is not possible to furnish segment disclosure relating to total assets and liabilities.
5.Unaudited financial results of Choice International Limited (Standalone) are as follows:(f In lakhs)
arEnded |
Quarter Ended
mths Er
Particulars
Unaudited
Unaudited
Audited

npany for the quarter ended December 31,2015

id of the accounting year.

Choice International Limited

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri (East), Mumbai - 400099.
Tel. *91-22-6707 9999 Email Id: info^choiceirtdia.com www.choiceindla.com, CIN:L67190MH1993PLC071117

CA

GUPTA SHYAM & Co#CA. Shyamsunder Gupta!

Chartered Accountants{B Com(Hon.J, FCA, DISA (ICAI} |
11, Sukhsagar.CHS Ltd. Akurii X Rd-1,,

'

Kandivali(E).Mumbai-40010i/|

;E-mail: ca shyamsunderqupta@qmail.com. Tel: 28870869j

IRef:SSGfltd-reviewJ Q3 / 2015-16___|
Date: 13-02-2016

INDEPENDENT CONSOLIDATED LIMITED REVIEW REPORT

The Board of Directors
Choice International Limited
Shree Shakambhari Corporate Park
Plot No 156,157 S 158, Chakravarti Ashok Society
J. B. Nagar, Andheri (East), Mumbai - 400099
Dear Sir,

We have revie wed the accompanying statement of unaudited consolidated financial results of Choice International
Limited for the quarter and six months ended on December 31. 2015_except for toe disclosures regarding 'Public
Shareholding' and Promoter and Promoter Group Shareholding' which have been traced from disclosures made by the
management and have not been audited.by us. This statement is the responsibility of the Company's Management and
has been approved by Board of Directors / Committee of Board of Directors. Our responsibility is to issue a report on
these financial statements based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410 "Review of Interim
Financial Information performed by toe independent auditor of the entity", issued by Institute of Chartered Accountants
of India. This standard requires that we plan & 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 provide less assurance than an audit We have not
performed audit and accordingly, we do not express an audit opinion.

Further We did not reviewed toe Statement of financial results of eight subsidiaries, whose financial statements reflect
toe group's share of total assets of Rs.181.40.68.182/- revenue of Rs.79.98.15.946/- and toe net profit of
Rs.2.9747,225 and groups share of net profit of Rs.13.73,973 from one associates for the for the period of nine
months and total assets of Rs.181.40,68.182/- revenue of Rs.27,35.99.727 /- and the net profit of Rs.36.53,474 and
group's share of net profit of Rs.6,76164 from one associates for toe quarter ended on December. 31 , 2015 has been

considered in consolidated financial statements The financial information of these subsidiaries and associates have
been reviewed by toe other auditor whose reports have been furnished to us by the management and our opinion on
toe quarterly financial results is based solely on toe report of toe other auditor.
Based on our review conducted as above, nothing has come to our notice that causes us to believe Oat toe
accompanying statement of unaudited consolidated financial results prepared on the basis of the Accounting Standard

as specified under section 133 of the Companies Act 2013. read with Rules 7 of the Companies (Accounting) Rules
2014 and other Accounting Principles generally accepted in India and has not disclosed the information required to be
disclosed in terms of Regulation 33 of toe SEBI (Listing Obligation & Disclosure Requirement ) Regulatio n 2015
including the manner in which it is to be disclosed or that it contains any material misstatement
For Gupta Shyam & Co.
Chartered Accountants

FRN:103450W
CA Shyamsunder Gti'i
Proprietor

Membership No.638484

Choice
Sr, No.

Statement of Standalone Unaudited Financial Result* for the Quarter and Nine Months Ended December 31,2015
Quarter ended
Nine Months Ended
Year Ended
Particulars
Unaudited Unaudited Unaudited Unaudited
Audited
31,12,2015
31.03.2015
1 ncome from Operations
a) income from Operations/Sales
749.85
869.25
203.78
2293.98
603.62
865.24
b)Olher Operating Income
O.GC
0.0C
0.0C
0.0C
0.0C
0.00
Total Income from Operations (Net)
749.85
2293.98
603.62
865.24

2 Expenses
a) Operational Cost / Purchase of Stock in Trade
(b [Changes In inventories of finished goods, work-in-progress and
stock-in-trade
c) Personnel Expenses
d) Depreciation and Amortisation Expenses
Total Expenses
Profit/I Loss) from operations before other Income, finance costs and
3
exceptional Items (1-2)
4 Other Income
5 e^o^'!^ o^T^ "^^^ ^"^ ^"*"" ^""^
6 Finance Costs
7 Profit/(Loss) from ordinary activities after finance Cost but before
exceptional Items (5-6)
Profit/floss) from Ordinary Activities before Tax (7-8)

[^

4et Proflt/(Loss) from Ordinary Activities after Tax (9-10)

557.8^

558.68

0.05

1595.41

0.12

14.23

0.40

1165

5.71

12.57

(5.03)

3.18

26.4^
27.7.-

24.04
27.60

15.39
28.93

75.07
83.68

44.63
80.56

04.24
114.16

nut

646.97

69^

1839.15

191.05

276.98

110.89

222.28

134.36

454.83

412.57

588.26

0.00

0.00

0.10

0.01

0.31

0.35

110.89
101.37

149.89

110 55

36510

318 08

588 61
43118

9.02

72.39

23.91

89.74

9.02

72.39

23.91

89.74

94.80
0.00
94.80

157 43
0.00
157.43

25.65

57.48

ia.96

89^4

75.25
0.00
75.25
1000.48

142^7

o.oc
13 Net Profit/(Loss) for the period (11-12)
aid Up Equity Share Capital (Face Value Rs 10/-)
teserves excluding Revaluation Reserve as per Balance Sheet of
15

25.65

57.48

18.96

89.74
1000.48

0.00
142.77
1000.48
3984.46

i) Earnings per Share(EPS) (before Extra Ordinary hems) (of T10

16
each Knot annualised)
b) Diluted
li) Earnings per Share(EPS) (after Extra Ordinary ltems)[of Y10
11
eachKnot annualised)
b) Diluted

0.26

0.57

0.13

0.90
O.90

0.75
0.75

1.43
1.43

0.26

0.57

0.19
0.19

0.90
0.90

0.75
0.75

1.43
1.43

Choice International Limited

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158, J. B. Nagar, Andheri {East), Mumbai - 400099.
Tel. +91-22-6707 9999 Email Id: info@choiceindia.com www.choiceindia.com, CIN:L67190MH1993PLC071117

^A
Choice
Select Infonnation for ^e Quarter and nine Months Inded December 31,2015
Quarter ended
Particulars
Unaudited
Unaudited Unaudited
31.tZ.201S

St. No.

Unaudited

Ended
Un audited
12.2014

fear Ended
Audited
31.03.2015

1 >ubllc Shareholding:
Percentage of Shareholding
2 'romoter and Promoter Group SliarehoWing
a) Pledge d/Cncumbe red
Number of Shares
Percentage of Shares (as a % of the total shdrehutdlng of .unoteis
and promoter group}

Number of Shares
Percentage of Shares (as a %of the total share holding o promoters
and promoter group!
Percentage of Shares fas a % of the total share capital of he
company)
B

Particulars of investor Complaints

'ending at the beginning of the quarter

^isposed of during the quarter
lemaining unresolved at the end of the quarter

S318373
53.1 6%

53.16%

63.15%

53182731
53.16%1

63.15%

58.15%

7SO0OC

750000

750000

75000C

750000

750000

16.00^

16.00%

70.34%

16.00%

20.31%

17.91%

3936527

3936527

2936S27

3936527

2936527

3436527

84.00%

79.66%

84.00%

79.66%

82.09%

39 35%

29.35%

39 35%

29 35%

34.35%

39 35^
Quarter enrfud
December 31,
2015
0
0
0
0

1.The aforesaid standalone financial results were reviewed by the Audit Committee of the Board and subsequently approved by the Board of Dirt
2.Based on the guiding principles stated In accounting standard 17 "Segment Reporting", the management does not recognis
company.
3.The effect of deferred tan liability and provision of retirement benefits shall be considered at the end of the accounting ye
4.The figures for the previous year/period have been regrouped and rearranged wherever deemed necessary.
S.Theresultswill be available on the Company's website "www.choiceindia.com"

JL

Choice International Limited

Choice House Shree Shakambhari Corporate Park, Plot No 156 -158,1. B. Nagar, Andheri (East), Mumbai - 400039,
Tel. *91-22-6707 9999 Email Id: info@choiceindia.com www.cholceindla.com, CIN:L67190MH1993PLC071117

 1
I

(A
VV V
"

'

GUPTA SHYAM S CoCA. Shyamsunder Gupta

Chattered Accountants{ B Com(Hon.), FCA, DISA (ICAI}

11. Sukhsagar.CHS Ltd. Akurii X Rd-1i
Kandiuali (E). Mumbai-400101I
E-mail: ca.shyamsundetouDtaQmail.comTel: 28870869

'

LReBSSG / ltd-reyjew^33 / 2015-16i

Date: 13-02-2016

INDEPENDENT STANDALONE LIMITED REVIEW REPORT

The Board of Directors
Choice International Limited
Shree Shakambhari Corporate Park
PlotNo 156,157 & 158,
Chakravarti Astiok Society
J B- Nagar, Off Sahar Road,

Andheri (East), Mumbal - 400099

Dear Sir.

We have reviewed the accompanying statement of unaudited financial results(Standalone) of Choice Intemafional
Limited for the quarter and Nine months ended on December 31 2015 except for the disclosures regarding 'Public
Shareholding' and Promoter and Promoter Group Shareholding which have been traced from disclosures made by the
management and have not been audited by us.. This statement is the responsibility ol the Company's Management and

has been approved by Board of Directors / Committee of Board of Directors. Our responsibility is to issue a report on
these financial statements based on our review.

We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410 'Review of Interim
Financial Information performed by the independent auditor of the entity", issued by Institute of Chartered Accountants
of India This standard requires that we plan 8 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 provide less assurance than an audit. We have not
performed audit and accordingly, we do not express an audit opinion.
Based on our review conducted as above, nothing has come to our notice that causes us to believe that the
accompanying statement of unaudited standalone financial results prepared on the basis of the Accounting Standard as

specified under section 133 of the Companies Act. 2013. read with Rules 7 of the Companies (Accounfing) Rules 2014
and other Accounting Principles generally accepted in India and has not disclosed the information required to be

disclosed in terms of Regulation 33 of the SEB! (Listing Obligation & Disclosure Requirement) Regulation 2015
including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Gupta Shyam & Co.

Chattered Accountants