Damodar Industries Limited — Interim / Quarterly Report 2020

Sep 11, 2020

DAMODAR INDUSTRIES LIMITED

Date: September 11, 2020

To, The Manager - CRD BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort Mumbai — 400001 Ref.: Script Code 521220

To,

National Stock Exchange of India Limited The Corporate Relation Department, Exchange Plaza, Plot no. C/1, G Block Bandra - Kurla Complex Bandra (E) Mumbai - 400 051 Script Name : DAMODARIND:

Dear Sir/Madam,

• 1. Approved the Standalone Un-audited Financial Results for the Quarter ended 30th June, 2020 along with the Limited Review Report.
• 1. Appointment of M/s. Promod Jain & Co., Practicing Company Secretaries, as the Secretarial Auditor of the Company, for the Financial Year 2020-21, to conduct the Secretarial Audit of the Company.
• 1. Approved news paper notice for shifting of registered office from one state (Maharashtra, Mumbai ROC) to another state (Dadra & Nagar Haveli, Union Territory) to be published at a future date.
• 1. Appointment of Mr. Vishal Manseta, Practicing company Secretary to represent the Company for shifting of registered office from one state(Maharashtra, Mumbai ROC) Territory). to another state(Dadra & Nagar Haveli, Union
• . To take September 10, 2020 as cut-off date to prepare list of creditors to whom notice for shifting of registered office is to be sent and approve the draft of the notice to be sent.
• . Appointment of Mr. Vikas Kakani, as Internal Auditor of the Company for the Financial Year 2020-21 pursuant to Section 138 of the Companies Act, 2013 w.e.f. 11/09/2020.

Dalal Street, Fort	Exchange Plaza, Plot no. C/1, G Block
	Bandra - Kurla Complex
Mumbai — 400001	Bandra (E) Mumbai - 400 051
Ref.: Script Code 521220	Script Name : DAMODARIND:
Subject: Outcome of the Board Meeting held on September 11, 2020.
Dear Sir/Madam,
their meeting held on today, inter-alia considered and approved the following:	With reference to the above subject, we would like to inform you that Board of Directors of the Company at
the Limited Review Report.	1. Approved the Standalone Un-audited Financial Results for the Quarter ended 30th June, 2020 along with
	2. Appointment of M/s. Promod Jain & Co., Practicing Company Secretaries, as the Secretarial Auditor of the Company, for the Financial Year 2020-21, to conduct the Secretarial Audit of the Company.
	3. Approved news paper notice for shifting of registered office from one state (Maharashtra, Mumbai ROC) to another state (Dadra & Nagar Haveli, Union Territory) to be published at a future date.
registered office from one state(Maharashtra, Mumbai ROC) Territory).	4. Appointment of Mr. Vishal Manseta, Practicing company Secretary to represent the Company for shifting of to another state(Dadra & Nagar Haveli, Union
registered office is to be sent and approve the draft of the notice to be sent.	. To take September 10, 2020 as cut-off date to prepare list of creditors to whom notice for shifting of
pursuant to Section 138 of the Companies Act, 2013 w.e.f. 11/09/2020.	. Appointment of Mr. Vikas Kakani, as Internal Auditor of the Company for the Financial Year 2020-21
Disclosure as required under SEBI's circular no. under:—	CIR/CFD/ CMD/4/20'15 dated 9th September 2015 are as
Particulars	Details
	Mr. Vikas Kakani
Name of Internal Auditor
Reason of Change	Appointment of Internal Auditor
Dated of Appointment	w.e.f.11/09/2020
Brief Profile	Mr. Vikas Kakani having vast experience in field of Internal Audit & Taxation also having experience of conducting internal / concurrent audit of companies in similar industry.

DAMODAR INDUSTRIES LIMITED

DAMODAR	INDUSTRIES
	LIMITED
	Member Chartered Qualifications the Institute of of : Accountants of India
Disclosure of relationships between directors	Not related to any Director/KMP of the Company.

The meeting of the Board of directors commenced at 4.00 P.M. and concluded at 5.50 P.M.

This is for your information and record.

Thanking You, Yours Faithfully For Damodar Industries Limited subodh Kimar Soni Company Secretary

Regd.Office : 19/22 & 27/30, Madhu Estate, Pandurang Budhkar Marg, Worli, Mumbai - 400 013. Tel : + 91-22-66610301/ 02/ 08, + 91-22-49763180/ 3203 Factory : Survey No. 265 / 10 / 1, Demni Road, Dadra Village, D.& N. H. (U. T.)- 396 230 Tel.: 0260 3253390

:T- 26, MIDC Amravati, Addl. Indl. Area, MIDC, Textile Park, Nandgaon Peth, Maharashtra - 444 901.

Email : cs@damodargroup.com | Website : www.damodargroup.com|GST No. : 27AAACD3850G1ZV|CIN : L17110MH1987PLC045575

DAMODAR INDUSTRIES LIMITED

	DAMODAR INDUSTRIES LIMITED
	<a Regd.Office: 19/22 & 27/30, Madhu Estate, Pandurang Budhkar Marg, Worll, Mumbai - 400013</a	Corporate Identity Number : L17110MH1987PLC045575 Tel: +91 — 022 -6661 0301 eFax: 022- 6661 0308
	E-mail.cs@damodargroup.com_website: www.damodargroup.com UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2020			z
Sr. No	Particulars	30.06.2020	QuarterEnded* 31.03.2020	30.06.2019	(Rs. In Lakhs) [Year Ended 31.03.2020
1	Income from operations: (a)Net Sales/income from operations:	(Unaudited) 5,483.68	(Audited) 19,886.96	(Unaudited)	(Audited)
2.	(b)Other Income. Total Income from Operations [Expenditure	a 5,483.68	152.45 20,039.41	19,101.14 40.58 19,441.72	76,792.21 269.67 77,061.88
	a) (Increase)/Decrease in stock in process & finished goods b) i) Raw Material Consumed il) Goods Traded	400.71 2,750.03	27.11 10,083.31	(147.50) 9,760.02	(1,332.71) 39,090.35
	c) Finance costs id) Employees cost	1,297.49 761.37 313.08	6,087.65 1,038.49 898.95	6,578.02 759.92 770.21	24,627.39 3,379.85
	}e) Depreciation and Amortization expenses Other expenditure Total Expenses	568.74 700.94	582.85 1,986.76	542.45 1,404.42	3,416.66 2,303.83 6,692.99
3. 4	[Profiti(Loss) from Operations before Exceptional Items(1-2) [Exceptional Items	6,792.36 (1,308.68) =	20,705.12 (665.74) :	19,667.54 (625.82)	78,178.36 (1,116.48)
5. 6	[Profit/(Loss) from Ordinary Activities before tax (+4) Tax Expense: 'a) Current Tax	(1,308.68)	(665.74)	- (525.82)	s (1,116.48)
	b) Deferred Tax }c) Prior year tax adjustment	aes 409.71 -	= (213.04) 5	e (225.03) i	: (422.49)
7 8	d) MAT Credit Entitlement Net Profiti(Loss) from Ordinary Activities after tax (6-6) [Extraordinary items	(898.97) z	(452.67) s	(300.79)	(693.99)
9. 10	[Net Profit(Loss) for the period (7-8) [Other Comprehensive Income	(898.97)	(452.67)	Z (300.79)	= (693.99)
	/A.Item that will not be reclassified to profit or loss. (i) Remeasurement of Defined Benefit Plan (Net of Tax) B. Item that will be reclassified subsequently to profit or loss	-	(10.59)	-	(10.59)
11	i) Change in fair value of Cash Flow Hedge [Other Comprehensive Income,net of tax	256.56 256.56	(434.30) (444.89)	(44.90) (44.90)	(607.94) (618.53)
12 13	[Total comprehensive Income for the period [Paid up share capital (Rs. 5 each) [Other Equity	(642.41) 1,165.00 =	(897.56) 1165.00	(345.69) 1412.58	(19312.52) 1,165.00
14 Notes: 1)	Eaming Per Share Basic & Diluted (In Rs) The above results for the quarter ended June 30, 2020	(3.86) were reviewed and recommended by the Audit Committee and subsequently approved by the Board of	~ (7.94)	- (1.35)	8,647.68 (2.98)

2) Covid-19 Company has is closely Impacted monitoring the normal business opoerations of the Company since March 2020 by way of interruption in production, sales and other activities. The Company has made assessment the impact on various aspects of its business including its Customers / Vendors / Employee and other business partners. The Inventoies, receivables of iqucity position for the F.Y. 2020-21 including recoverabilty of carrying value of its assets such as loans, Investment, and may be different from etc, that The envisaged Company expects to fully recover the carying amount of these assets, The impact assessment of Covid-19 is an ongoing process Company will continue as at the approval of these financial results given the uncertainties associated with its nature and duration and the to monitor all material changes to the entity's environment. 3) The business activity of the Company falls within a single primary business segment viz " Textile Goods" and hence, there is no other reportable segment. 4) is The insignificant. Company has adopted Ind AS 116, effective annual reporting period beginning April 1, 2019. The effective on adoption of Ind AS 116 on the financial results

5) The figures for the previous financial period/year figures have been re-classifiedire-arranged/re-grouped wherever necessary to make them comparable.

Place : Mumbai Date : September 11,2020

¥ By the Order of the Board For Damodar Industries Limited = &

Arunkumar Biyani Chairman

To,

JITENDRA MISHRA & COMPANY CHARTERED ACCOUNTANTS

E-103, Joy Homes, Near Dena Bank, L B S Marg, Bhandup (W), Mumbai - 400078. Tel: 022-25945410 / Mobile: 9820483969 Email: jitendra1312@yahoo.com

INDEPENDENT AUDITORS' REVIEW REPORT ON UNAUDITED FINANCIAL RESULTS

The Board of Directors M/s. Damodar Industries Limited

We have reviewed the accompanying statement of unaudited financial results ("statement") of M/s. Damodar Industries Limited ('the Company') for the quarter ended June 30, 2020, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including relevent circulars issued by SEBI from time to time.

The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular is the responsibility of the Company's management and has been approved by the Board of Directors of the Company. Our responsibility is to express a conclusion on the Statement

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 the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently 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.

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of the Regulation, read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.

We draw attention to Note 2 to the consolidated financial results, which describes the uncertainties and the impact of Covid-19 pandemic on the Company's operations and results as assessed by the management. Our conclusion is

For, Jitendra Mishra & Company Chartered Accountants Firm Registration No: 125334W

(Jitendra Mishra)

Proprietor Membership No: 116676 UDIN: 20116676AAAACL1372 Place: Mumbai Date: September 11,2020