REDTAPE (REDTAPE) Q4 21/22 earnings summary

Executive summary

• Incorporated 8 Dec 2021; commercial operations had not commenced by 31 Mar 2022, and the period’s accounts cover 8 Dec 2021–31 Mar 2022.

• Recorded a loss of ₹41,800, primarily from incorporation-related expenses; the proposed demerger of the branded business remained subject to NCLT and other approvals.

Financial highlights

• Loss before tax and net loss were both ₹41,800; total comprehensive loss was ₹41,800 for the period ended 31 Mar 2022.

• Cash and cash equivalents stood at ₹63,200 at 31 Mar 2022; paid-up equity share capital was ₹1 lakh.

• Other expenses of ₹41,800 comprised incorporation professional charges of ₹30,559, ROC charges of ₹6,241 and auditor remuneration of ₹5,000.

Outlook and guidance

• The proposed scheme would vest the REDTAPE branded business from Mirza International, with an appointed date of 1 Jan 2022 or another date directed by the NCLT; completion depended on required approvals.