Dangee Dums Limited — Earnings Release 2021

Jul 1, 2021

Date: July 01, 2021

To, Listing Department, National Stock Exchange of India Limited, Exchange Plaza, Plot No C/1, G-block, Bandra Kurla Complex,Bandra(E) Mumbai-400051

SYMBOL: DANGEE

Subject: Outcome of Board Meeting held on June 30, 2021 later resumed at July 01, 2021 Reference: Our Announcement dated June 30, 2021

Dear Sir/Ma'am,

In pursuance of Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we hereby inform that the Board of Directors of the Company at the meeting held on June 30, 2021 which could not be continued due to time constraint, and which was resumed on July 01,2021 at the Registered Office of the Company considered and approved following transaction:

1. Audited financial results of the Company for the Quarter and year ended March 31, 2021.

The meeting was resumed on Thursday July 01, 2021 at 2:30 PM and was concluded at 5:15 PM.

Kindly take the same on your records.

Thanking You,

Yours Faithfully,

For, Dangee Dums Limited Khushboo Parikh Digitally signed by Khushboo Parikh Date: 2021.07.01 17:21:07 +05'30'

Khushboo Parikh Company Secretary & Compliance Officer

		DANGEE DUMS LIMITED
		CIN: L55101GJ2010PLC061983
	Regd. Office: 4/A, Ketan Society, Nr. Sardar Patel Colony, Naranpura, Ahmedabad-380014 E-mail id: cs@dangeedums.com Phone:079-274681878 website: www.dangeedums.com
	Audited Standalone Financial Results for the quarter and year ended on March 31,2021
	(Rs. In Lakhs Except EPS and Face Value of Share)
		Quarter Ended 31.03.2021		Year Ended 31.03.2021
	Particulars		31.12.2020 Unaudited		31.03.2020
		Refer Note 6		Audited	Audited
	Revenue from operations	444.55	458.54	1,343.63	3,534.90
$\mathbf{H}$	Other Income	7.28 451.84	28.11 486.65	273.47	161.71 3,696.62
Ш	Total Revenue (I+II)			1,617.11
IV
	Expenses Cost of material consumed	189.29
	Purchase of stock in trade	44.12	161.14 28.67	529.80	1,071.95
	Changes in inventories of Finished Goods, Work-in-	(7.78)	(7.08)	81.39 107.43	171.82 (112.29)
	Progress and Stock-in-trade
	Employee benefits expenses	136.37	90.27	361.31	754.36
	Finance Costs	88.83	84.49	366.28	459.04
	Depreciation and amortization expense	181.22	178.09	754.19	885.17
	Other Expenses	93.50	142.83	611.69	719.64
	Total Expenses	725.55	678.41	2,812.09	3,949.70
$\vee$	Profit before exceptional and extraordinary items and tax
	$(III-IV)$	(273.71)	(191.76)	(1, 194.98)	(253.09)
VI	Exceptional Items
VII	Profit before extraordinary items and tax (V-VI)	(273.71)	(191.76)	(1, 194.98)	(253.09)
VIII	Extraordinary items
X	Profit before tax (VII-VIII)	(273.71)	(191.76)	(1, 194.98)	(253.09)
X	Tax Expenses
	1) Current tax
	2) Deferred tax	(122.79)	(5.29)	(190.51)	(48.28)
	3) Short / (Excess) Provision of Income Tax of Previous Years				$-.00$
XI	Profit (Loss) for the period from continuing operations (IX-X)	(150.92)	(186.47)	(1,004.47)	(204.80)
XII	Profit / (Loss) from discontinuing operations
XIII	Tax expenses of discontinuing operations
XIV	Profit / (Loss) from discontinuing operations (after tax) (XII-
	XIII)
XV	Net Profit / (Loss) for the period (XI+XIV)	(150.92)	(186.47)	(1,004.47)	(204.80)
XVI	Other Comprehensive income
	A) (i) Items that will not be reclassified to profit or loss	14.24	0.76	16.14	6.45
	(ii) Income tax relating to items that will not be	(4.49)		(4.49)	(1.79)
	reclassified to profit or loss
	B) (i) Items that will be reclassified to profit or loss
	(ii) Income tax relating to items that will be reclassified to
	profit orloss
XVII	Total Comprehensive Income	(141.17)	(185.71)	(992.82)	(200.15)
XVIII	Paid up Equity Share Capital (Face Value Rs. 10/- each)	1,026.50	1,026.50	1,026.50	1,026.50
XIX	Other Equity excluding Revaluation Reserve			867.04	1,859.87
XX	Earning per share
	1) Basic	(1.47)	(1.82)	(9.79)	(2.00)
	2) Diluted	(1.47)	(1.82)	(9.79)	(2.00)

Notes:

1 The financial results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors of the Company at their respective meetings held on 01.07.2021and audited by the Statutory Auditors of the Company.

2 Previously, the shares of the company are listed on SME platform of NSE, from Dt.13/11/2020 the Shares of the company has been migrated to Main Board of NSE. Therfore, The Standalone Financial Results have been prepared in accordance with Indian Accounting Standard(Ind-AS) as prescribed under releveant provisions of Companies Act, 2013 read with relevant rules framed thereunder and recognized accounting practices and policies to the extent applicable. Beginning from April 01, 2017 the Company has for the first time adopted Ind-AS.

3 After declaration of COVID-19 as pandemic by World Health Organization, its impact is already visible on multiple sectors in India and our Company is not an exception. The Management of the company has already carried out initial assessment of impact on business operations. This is a short-term disruption and company does not foresee medium to long term risks. The Company will continue as going concern and honor its financial commitments as and when they fall due for payment.

4 There are no separate reportable segments as per IND-AS 108 on "Operating Segments" in respect of the Company.

5 Figures for the quarter ended March 31, 2021 represents the difference between the audited figures in respect to the full financial year and published figures of nine months

6 Before migration to Main Board of NSE, the Company was listed on SME platform of NSE i.e. NSE Emerge and therefore was not require to prepare and present financial results on Quarterly basis and hence we have not provided the financials of the previous year's corresponding Quarter and in place considered the previous year financials i.e. 31st March 2020, and therefore the financials of the Quarter ended on 31st December, 2020 are not comparable with the previous year's corresponding Quarter 31st March 2020.

7 The figures for the previous periods have been regrouped / reclassified wherever necessary to confirm with the current period's classification.

8 Cashflow for the year ended March 31, 2021 is attached herewith.

9 Reconciliation between financial results as previously reported under Indian GAAP and as per Ind AS for the year ended on March 31, 2020

	(Rs. in Lakhs)
Particulars	Year ended on March 31,2020
Net profit/(loss) as reported under Indian GAAP	(126.94)
Interest Expense on Lease Liability	(29, 174, 691)
Remeasurement of Gratuity Liability	(588, 535)
Adjustment in respect of fair Valuation of Current Investments	(884, 926)
Amortisation of Right-to-Use Asset	(42,064,286)
Interest Income on Lease Deposit	1,494,959
Rent Expense	58,409,873
Gain on Cancellation of Lease	3,402,642
Adjustment for Prior Period Expense	39,267
Adjustment in respect of fair valuation of Current Investment
Adjustment in respect of fair valuation of Non Current Investment	1,579,487
Net profit/(loss) as per Ind AS	(7,786,337)
Other Comprehensive income	465,391
Total Comprehensive Income as per Ind AS	(7,320,946)

Note: As on March 31, 2020, the Company was not listed on Main Board and therefore it was not required to publish quarterly result for the quarter ended on March 31, 2020. Considering this, above reconciliation is provided only for the year ended March 31, 2020

Reconciliation between total equity as previously reported under Indian GAAP and as per Ind AS for the year ended on March 31, 2020

Particulars	(Rs. in Lakhs) Year ended on March 31,2020
Total Equity (Shareholder's Fund) as per Indian GAAP	332538120
Adjustment for Deferred Tax Liability on Gratuity in OCI
Recognition of Amortise Cost on right to use & Interest Expense on Lease Liabilit
Measurement of Interest Income on Lease Deposit
Derecognition of Interest Expense
Recognition of Gain on Cancellation of Lease
Adjustment for Prior Period Expense
Adjustment in respect of fair valuation of Non Current Investment
Total Equity (Shareholder's Fund) as per Ind AS	332538121

10 The results for the quarter ended December 31, 2020 are available on the National Stock Exchange of India Limited website (URL: https://www.nseindia.com/getquotes/equity?symbol=DANGEE) and on the Company's website (URL: https://www.dangeedums.com/investor

UMS For, DANGEE DUMS LIMITED O ζ Ġ J NIKUL PATEL $\overline{z}$ TEHAIRMAN & MANAGING DIRECTOR [DIN:01339858] ٠

DATE: 01.07.2021 PLACE: Ahmedabad

				Amount in lakhs
		Particulaas	As at March 31, 2021	As at March 31,2020
	L	ASSETS
L	1
L	I	(a) Property, plant and equipment	1,658.88	2,243.4'1
	I	(b) Capital work-in-progress
	I	(c) Other intangible assets	37.74	49.88
F	I r	(d) Right-to-use Asset	1,422.65	2,644.4t
		(e) Financial assets
L	I	(i) lnvestments	36.92	122.74
	I	(ii) Loans	7,757.73	1,101.78
L	I	(iii) Other Financial Assets	155.01	196.83
	I	(e) Deferred tax assets (net)	392.02	206.00
i	r	(f) Other non-current assets	197.97	207.35
	I	Total non - current assets	5,0s8.86	6,816.50
	2	(a) lnventories
[T_		(b) Financialassets	161.82	508.15
		(i) lnvestments
IT		(ii)Trade receivables		97.46
II		(iii)Cash and cash equivalents	165.52	163.65
II		(iv) Other bank balances	105.91	94.22
II		(v) Other financial assets
II		(c) Current Tax Assets (Net)	23.44	23.36
II		(d) Other current assets	5.85 70.57	7.65
II		Total current assets	533.11	90.94 985.84
		Totalassets (1+2)	5,s91.97	7,402.33
B		EQUTTY AND UAB[-rTtES
	1
		(a)Share capital	1,026.50	1,026.50
		(b) Other equity	867.04	1,859.87
		Totalequity	1,893.54	2,486.37
f
	2
		(a) Fina ncia I liabilities
III		(i) Borrowings	1,036.51	472.75
III		(ii) Other financial liabilities	1,502.06	2,645.70
II		(b)P.ovisions	16.63	24.40
[rl--		Total non - current liabilities	2,555.20	3,582.85
f	3
II		(a) Financial liabilities
III		(i) Borrowings	491.39	475.41
III		(ii) Trade payables	41.73	97.62
III		(iii) Other financial liabilities	595.39	733.61
I		(b) Other current liabilities	t4.7 !	26.42
F		rr Total cur.ent liabilities	1.143.23	1,333.11
		Total equity and liabilities {1+2+3)	5,s91.97	7,402.33

STATEMENT OF ASSETS AND TIABITITIES OF DANGEE DUMS LTD AS ON MARCH 31, 2021

FoT,DANGEE DUMS LIMITED

lDtN:013398581

RMAN & MANAGING DIRECTOR

DATE:01.07.2021 o

Cash Flow statement for the year ended March 31, 2021 (Amount in Lakhs)
Pafticulars	Year Ended March 31,2021	Year Ended March 31,2020
Cash flow from operating activities
Profit before tax	(1,194.98)	(2s3.09)
Adjustments for i
Oepreciation and amortisation expense	754.7	885.17
Amortisation of lease premium
Finance costs	366.2	459.04
Provision for expected credit Loss		16.06
Gain on Cancellation of Lease	1L63.27l.	(17.s s )
Loss on Discard of Property Plant & Equipment	788.22	21.63
(Gain)/Loss on sale of Current Non Current lnvestm€nts (net)	69.15
{Gain)/Loss on sale of Current lnvestments {net)	16.22)	.24.731
lnterest income	(103.s5)	(101.40)
Dividend income		(0.21)
(Gain) / loss on fair valuation of Non Current lnvestment {net)	6.72	(1s.79
(Gain) / loss on fair valuation of Current lnvetsment (net)		2.7
Pro{it on sale of Property, Plant & Equipment	(0.01)	(2.03
Operating profit before working capital changes	(84.48	959.25
Changes in op€rating ass€ts and liabllhies:
(lncrease)/Decrease in lnventories	346.33	(170.14)
{lncrease)/Decrease in Trade receivables	(1.86)	24.23
(lnc.ease)/Decrease in Other nonrurrent fi nancial	18_73	(110.66)
asset
(lncrease)/Decrease in Other current financial assets	(0.08)	114.20
(lncrease)/Decrease in Other current assets	20.37	(28.18
(lncrease)/Decrease in Other non-current assets	0.75	o.74
lncrease/(Decrease) in Other Non current Financial Liabilities		1.5
lncrease/(Decrease) in Trade payable	(ss.8s)	27.2
lncrease/(Decrease) in Other current Financial	Q4.BI	(3.43
Liabilities
lncrease/(Decrease) in Other current liabitlies	177.1O	(33.20)
lncrease/(Decrease) in Provisions (current liabilities)	8.3	13.83
cash flow generated trom operations	216	803.45
Direct taxes paid (net)	3.08	(7.6s )
NET CASH FLOW FROM OPERATING ACNV ES (A)	219.4
Cash flowg from investinS activities
Purchase of Property, plant and equipments	(63-6s)	(464.74].
Proceeds from sale of Property, plant and equipments	0	4.63
lnterest received	81.2	19.7 6
Payment for Right to use
Dividend received		o.27

(55.95) (66.76) (41.22) (9.80) 51.80 (500.00) 104.08 878.82 (0.04) (0.04) 76.69 (77.31)
304.94
(94.96) (153.99)
(144.73) (292.35)
(204.52) (291.75)
15.99 (12.56)
(161.18) (153.20)
(284.47) (903.84)
11.69 (185.34)
94.22 279.56

Notes:

(i). Components of cash and cash equivalents at each balance sheet date:

Particulars	As at Marchl 31, 2021 Rs.	As at March 31, 2020 Rs.	As at April 1,2019 Rs.
Cash on hand	44.84	51.48	20.82
Balances with Bank - In Current Account	61.07	42.73	258.74
Total Cash and cash equivalents	105.91	94.22	279.56

(ii). The above cash flow statement has been prepared under the "Indirect Method" as set out in the Indian Accounting Standard - 7 Cash Flow Statements specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014.

(iii). Previous Periods' / Years' figures have been re-grouped / Re-Classified where necessary to make it comparable with the current period. UM.

PLACE: Ahmedabad

DATE: 01.07.2021

For, DANGEE DUMS LIMITED

I

NHKUL J PATEL MAN & MANAGING DIRECTOR [DIN:01339858]

$J. T. SHAH & CD.$

CHARTERED ACCOUNTANTS

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To

The Board of Directors of Dangee Dums Limited

Report on the audit of the Standalone Financial Results

Qualified Opinion

1. We have audited the accompanying Standalone Quarterly Financial Results of Dangee Dums Limited (herein after referred as "the company") for the Quarter Ended March 31, 2021and the Year to date results for the period from April 01, 2020to March 31, 2021 attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us these standalone financial results:

are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

$\mathbf{H}$ give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net loss (including other comprehensive income) and other financial information for the quarter ended March 31, 2021 as well as the year to date results for the period from April 01, 2020 to March 31, 2021.

Basis for Opinion

$2.$ We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

201/202, Lalita Complex, 352/3, Rasala Marg, Nr. Jain Temple, Navrangpura, Ahmedabad-380009. Phone 264 444 20, 264 444 30, 264 444 40, 265 604 40 Emad: utfo@itshahco.com

J. T. SHAH & CO.

Emphasis of Matter paragraph

As described in Note 3 to the Standalone Financial Results, the extent to which the COVID-19 3. pandemic will impact the company's operations and financial performance is dependent on future developments, which are highly uncertain.

Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Standalone Financial Results

1. 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 and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material 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

1. 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.

201/202 Lalita Complex, 352/3. Rasala Marg, Nr. Jain Temple, Navrangpura. Ahmedabad-380009. Phone 264 444 20, 264 444 30, 264 444 40, 265 604 40

J. T. SHAH & CO.

CHARTERED ACCOUNTANTS

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

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

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

SHAL AHME

201/202, Lalita Complex, 352/3, Rasala Marg, Nr. Jain Temple, Navrangpura, Ahmedabad-380009. Phone: 264 444 20, 264 444 30, 264 444 40, 265 604 40 Email: info@itshahco.com

J. T. SHAH & CO.

CHARTERED ACLOUNTANTS

Other Matters

The statement includes the results for three month ended 31st March 2021 being the balancing 6. figure between audited figures in respect of the full financial year and the published unaudited year to date figures up to the nine months of the current financial year which were subject to limited review by us.

Place: Ahmedabad Date: 01/07/2021

SHAH & AHMEDABAD ED ACCO

For, J.T. Shah & Co. Chartered Accountants (Firm's Regd. No. 109616W) andy

(A. R. Pandit) Partner [M. No. 127917] UDIN: 21127917AAAADD5480

201/202, Lalita Complex, 352/3, Rasala Marg, Nr. Jain Tomple, Navrangpura, Ahmedabad-380009. Phone: 264 444 20, 264 444 30, 264 444 40, 265 604 40 Emadi inte@jtshalico.com

DECLARATION

Under Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016

I, Mr. Nikul J. Patel (DIN - 01339858), Chairman and Managing Director of the Company, hereby declare that the Statement of Standalone Audited Financial Statements for the year ended March 31, 2021 does not contain any qualification or modification by Auditors of the Company.

Date:July 01,2021 Nikul J Patel

________________ Patel Nikul Digitally signed by Patel Nikul Date: 2021.07.01 17:19:34 +05'30'

Place: Ahmedabad Chairman & Managing Director