DCM Ltd. — Audit Report / Information 2023

May 29, 2023

May 29, 2023

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400 001 Scrip Code: 502820 Scrip Code: DCM

National Stock Exchange of India Ltd.

Exchange Plaza, Plot no. C/1, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai – 400 051

ISIN: INE498A01018

Subject: Outcome of the Board Meeting dated May 29, 2023

Dear Sirs,

This is inform you that:

• 1. The Board of Directors of the Company at its meeting held on May 29, 2023 (i.e. today) have inter-alia approved and taken on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the 4th quarter and financial year ended March 31, 2023. Accordingly pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, ('SEBI Listing Regulations') following documents are enclosed herewith:
  • i. Auditors Report on the Standalone Audited Financial Results of the Company for the 4th quarter and financial year ended March 31, 2023;
  • ii. Standalone Audited Financial Results of the Company for the 4th quarter and financial year ended March 31, 2023;
  • iii. Auditors Report on the Consolidated Audited Financial Results of the Company for the 4th quarter and financial year ended March 31, 2023;
  • iv. Consolidated Audited Financial Results of the Company for the 4th quarter and financial year ended March 31, 2023;
  • v. Declaration by CFO on unmodified opinion on Auditors Report' issued by the Statutory Auditors, under Regulation 33(3)(d) of the SEBI Listing Regulations.
• 1. The Board of Directors of the Company in its meeting held on November 28, 2019, have approved a composite scheme of arrangement ('Scheme') for transfer of its "Engineering Business undertaking" to its wholly owned subsidiary namely DCM Engineering Limited (formerly known as DCM Tools and Dies Limited), on a going concern basis with effect from the appointed date of October 01, 2019 and

Registered office: Unit Nos. 2050 to 2052, Plaza - II, 2nd Floor, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi – 110006. Phone: (011) 41539170 CIN: L74899DL1889PLC000004, Website: www.dcm.in, Email Id: investors@dcm.in

restructuring of outstanding loans, debts and liabilities of said Engineering Business Undertaking.

In terms of Regulation 37 of SEBI Listing Regulations, the Company had received No Objection/observation from National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) vide their letter(s) dated 24th June, 2020 for the aforesaid Scheme. The said approval /no-objection given by the NSE & BSE was valid till 23rd December 2020.

However the said Scheme could not be filed with Hon'ble National Company Law Tribunal (NCLT) for seeking their approval under Section 230 – 232 of the Companies Act, 2013 awaiting in principle approval of secured lenders (Banks) due to default in payment of their dues.

Further, the Company has paid its creditors including the banks. Hence, the section II of the said Composite Scheme of Arrangement approved by the Board on November 28, 2019 relating to restructuring of outstanding loans and liabilities of Engineering Business Undertaking, has become infructuous.

Pursuant to the above the Board of Directors of the Company in its meeting held on 29th May 2023 has decided to withdraw the aforesaid original Composite Scheme of Arrangement as approved by the Board on November 28, 2019 and authorized the Directors and/ or officers of the Company to make and submit a fresh proposal for their consideration & approval for restructuring of the Engineering Business of the Company in consultation with legal & tax consultants.

Time of Commencement of Board meeting - 12.00 Noon Time of conclusion of Board Meeting - 3.30 PM

You are requested to take the above information on record.

Thanking You, Yours truly, For DCM Limited

Yadvinder Goyal Digitally signed by Yadvinder Goyal Date: 2023.05.29 15:31:26 +05'30'

Yadvinder Goyal Company Secretary

Encl. - as stated above

Registered office: Unit Nos. 2050 to 2052, Plaza - II, 2nd Floor, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi – 110006. Phone: (011) 41539170 CIN: L74899DL1889PLC000004, Website: www.dcm.in, Email Id: investors@dcm.in

Independent Auditors' 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;

CHARTERED ACCOUNTANTS

& COMPANY

5 5 KOTHARI MEHTA

To

The Board of Directors of DCM Limited New Delhi

Report on the Audit of the Standalone Financial Results

Opinion

• 1. We have audited the accompanying statement of quarterly and year to date standalone financial results of DCM limited (the "Company") for the quarter and year ended March 31, 2023 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, asamended (the "Listing Regulations").
• 1. In our opinion and to the best of our information and according to the explanations given to us, the Statement:
  • i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
• ii. gives a true and fair view in conformity with the applicable Indian accounting standards and other accounting principles generally accepted in India, of the net loss and other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2023.

Basisfor Opinion

1. We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("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 statements under the provisions of the Act and the Rulesthereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basisfor our audit opinion on the statement.

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Plot No. 68, Okhla industrialArea, Phase-III,New Delhi-110020 Tel: +91-11-46708888 E-mail: info@sskmin.com www.sskmin.com

CHARTERED ACCOUNTANTS 5 5 KOTHARI MEHTA & COMPANY

Emphasis of Matter

1. We draw attention to Note 3 of the Statement wherein during the earlier year in view of continued situation of industrial unrest, the Company has declared lockout at its engineering business undertaking. On the basis of legal advice, Management of the Company is of the view that the present lockout is legal and justified. Therefore, the Company has not made any provision for wages pertaining to the lockout period October 22, 2019, to March 31, 2023, aggregating to Rs. 5,847 lakhs (current quarter Rs.321Iakhs). Our opinion is not modified in respect of this matter.

Material Uncertainty on Going Concern

1. We draw attention to Note 7 and 8 of the Statement highlighting that the Company has entered into a Joint Development Agreement (JDA)with a party for development of its Land situated at Hisar. The JDA is subject to fulfilment of certain terms and conditions by the said party as well as receipt of regulatory approvals. The JDA has become effective pursuant to compliance of certain terms and conditions in terms of said JDA.

Subsequent to the year end, Director General,Town and Country Planning, Haryana has suspended the licence for development of the said land taking a note that an enquiry has been initiated against the Company in respect of the Company's land at Hisar. As per said Order, the licensee is directed not to carry out any development work on the above-mentioned land at Hisar and also not to create any third party rights unless the said suspension is revoked. The Company is taking appropriate action in the matter for the revocation of said suspension Order.

Pending revocation of said suspension of license, the advance of Rs. 5000 lakh received by the Company under the said JDA, has been shown under the current liabilities. Pursuant to above, the current liabilities of the Company including the said advance of Rs.5000 lakh received under JDA exceed the current assets by Rs3,782 lakh as at March 31, 2023. The management of the Company holds the view that the Company has merits in the case and is confident toget favourable order in the said matter of revocation of suspension order.

The management believes that with the revocation of said suspension Order of license and infusion of liquidity by focusing /managing of its real estate operation and/or the Company's plans of restructuring of its Engineering Business Undertaking as well as other interim measures to improve liquidity, the Company will be able to continue its operation for the foreseeable future. Accordingly, the financial results-of the Company have been prepared on a going concern basis.

Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Standalone Financial Results

1. The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net loss and other comprehensive income of the Company and other financial information in accordance with the applicable Indian accounting .......-::j;flrdsprescribed under Section 133 of the Act read with relevant rules issued thereunder and .

5 5 KOTHARI MEHTA & COMPANY

CHARTERED ACCOUNTANTS

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 the 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 Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

• 1. In preparing the Statement, the Board of Directors are responsible for assessingthe 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 ceaseoperations, or has no realistic alternative but to do so.
• 1. 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 assuranceabout whether the Statement as a whole is 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 butis 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 the Statement.
• 1. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
• Identify and assessthe risks of material misstatement of the Statement, 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. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

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5 5 KOTHARI MEHTA & COMPANY

CHARTERED ACCOUNTANTS

• 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 Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the Company to express an opinion on the Statement.

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.

Other matters

The Statement includes the results for the quarter ended March 31, 2023, being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2023, and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For S. S. KOTHARI MEHTA & COMPANY

Chartered Accountants

Membership No. 500607 Place: New Delhi Date: May 29, 2023 UDIN : 23500607BGURLG5237

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ST.·\T[J\lENT OF AliDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2023

	(Rupees In lakh)
			For the Quarterended		For theear ended
	s.xo. Particutars	March31,2023	December31,2022	March31, 2022	March31,2023	March31,2022
		Audited		Audited
		(ReferNote 10)	Unaudited	(ReferNote 10)	Audited	Audited
I
	Revenue
(a)	Revenue from operations	-	6	93	6	110
(b)	Other income (refer Note 5)	91	43	1,292	1,088	3,599
	Totalincome	91	49	1,385	1,094	3,709
7.	Expenses
	(a) Cost of materials consumed	-	-	-	-	-
(h)	Changesin inventories of finished goods and work in progress	-	!-	41	-	41
(e)	Employee benefits expense	95	135	33	409	168
(d)	Finance costs	52	43	I	211	579
(c)	Depreciationand amortizationexpense	155	149	179	631	762
(f)	Other expenses	177	109	271	459	416
	Totalexpenses	479	436	525	1,710	1,966
:;	Profit/(Luss)before tax	(388)	(387)	860	(616)	1,743
I	Ta x expense
	Current tax	-	-	-	-	-
	Tax adjustmentrelating to prior periods	-	-	-	-	(35)
	Deferred tax expense	-	-	-	-	-
	Totaltax expense	-	-	-	-	(35)
5	Prolit/(Loss)for the period/year	(388)	(387)	860	(616)	1,778
(,
	Othercomprehensiveincome
	Items that will not be reclassifiedto profit or lossRe-measurernent(losses)/ gains of defined benefit obligations(net
	of tax)	7	19	28	64	76
7	Total comprehensiveIncome/(Ioss)for the neriod/year	(381)	(368)	888	(552)	1,854
8	Paid up equity share capital (Face value Rs. 10 per share)	1,868	1,868	1,868	1,868	1,868
<)	Other equity				(1,078)	(526)
10	I:amings/(loss) per equity share (EPS) of Rs. 10 each
	(not annualised)
	Basic and Diluted	(2.08)	(2.07)	4.60	(3.30)	9.52

OC"I LIMITED

Rcgd. Office: 2050-2052, 2nd Floor, Plaza-II, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi -110006 l-mail: invcsto,·s@dcm.in Phone: 011-41539170

STATEMENT OF STANDALONE ASSETS AND LIABILITIES AS AT MARCH 31, 2023

(RupeesIn. Ia kh)
	As at	As at
Pa rtic ula rs	March 31, 2023	March 31, 2022
	Audited	Audited
.\SSETS
.\ un-cu 'Tent assets
Property. plant and equipment	3,335	4,144
Intangible assets	5	7
Financial assets
Investments	3,246!	3,246
Other financial assets	181	180
Non-current tax assets (net)	401	397
Other non-current assets	748	748
Total 1I01l-CU'TClltassets	7,916	8,722
Cu rrent assets
Inventories	1,174	1,059
Financial assets
Trade receivables	14	14
Cash and cash equivalents	21	21
Bank balances other than cash and cash equivalents	189	104
l.oans	15	17
Other financial assets	65	636
Other current assets	291	145
Assets held for sale	205	205
Total cu rrcnt assets	1,974	2,201
Total assets	.9,890	10,923
EQUITY AND LIABILITIES
Equity
Equity share capital	1,868	1,868
Other equity	(1,078)	(526)
Total equity	790	1,342
Liabilities
Non-currentliabilities
Financial liabilities
Other financial liabilities	2,816	2,444
Provisions	528	691
Total 1I0n- cu rrcnt liabilitics	3,344	3,135
Cu rrcnt liabilities
Financial liabilities
Borrowings	-	2,327
Tracie payables
Dues to micro and small enterprises	-	45
Dues to others	117	725
Other financial liabilities	5,343	2,925
Other current liabilities	236	310
Provisions	60	114
Total currentliabilities	5,756	6,446
Total equity and liabilities	~,890	10,923

		(Rupees in lakh)
Par-ticulars	For the year endedMarch31, 2023	For the year endedMarch 31, 2022
Cash flow from operatingactivities
(Lossl/Profit before taxation	(616)	1,743
Adj usiments tor:
Depreciation and amortisation expense	631	762
Profit on property plant and equipment sold or discarded (net)	(I)	(5)
Liabilities no longer required written back	(927)	(2,103)
Dividend income	(77)	(46)
Interest income	(II)	(4)
Impairment in the value of inventory	55
Finance costs	211	579
Allowance of expected credit loss		10
Gad debts and irrecoverable balances written off		0
Inventory of stores and spares written off	4	212
Operatingcash flow before workingcapitalchanges	(731)	1,148
Workingcapitalchanges
(Increase)/decreasein inventories	I	255
(Increase)/decreasein trade receivables	0	3
(Increase)/decreasein loans	2	5
(Increasej/ decrease in other financial assets	571	(592)
(Increase)/decreasein other assets	(127)	1,613
Increase/ (decrease) in trade payables	(599)	(2,992)
Increase/(decrease)in provisions	(154)	(98)
Increase/(decrease)in financial liabilities	2,579	1,365
Increase/(decrease)in other liabilities	(74)	(2)
Cash generatedfrom operations	1,468	705
Income tax paid (net ofrefund)	(4)	(91)
Net cash generatedfromoperatingactivities (A)	1,464	614
Cash {low {rom investingactivities
Payment towards property, plant and equipment (including capital advances)	(6)
Payment towards purchase of rights in flats		( 18)
Proceeds from disposal of property, plant and equipment (including advance	12	90
received)Interest received on financial assets measured at amortised cost		6
Interest income	II
Dividend income	77	46
Maturity of / (Investment in) bank deposits (net) not considered as cash and	(104)	45
cash equivalents
Net cash (used in)/ generated frominvestingactivities (B)	(10)	169
lash{low {rom (inancingactivities
Repayment of long term borrowings	(378)	(223)
Change in working capital borrowings	(1,076)	(567)
Net cash used in financingactivities (C)	(1,454)	(790)
		(7)
Net cash flows [increase/ (decrease)!duringthe year (A+B+C)	021	28
Cash and cash equivalents at the beginning of the yearCash and cash equivalents at the end of the year	21	21
	o	o

21 21 21 21

:\UI(,S:

I. Standalone segment wise information for the quarter and year ended March 31, 2023

	(Runeesin lakh)
			For the quarterended		For the vear ended
	S.No. Particulars	March31, 2023	December31,2022	March31, 2022	March31, 2023	March31, 2022
		Audited(Refer Note 10	Unaudited	Audited(ReferNote 10	Audited	Audited
I(a)	'('gnu'lIl revenue
(b)	Real EstateGrey Iron Casting	--	-6	-93	6	110
	Total	-	6	93	6	110
	Less: Inter sezmentrevenues		-		-	-
	Net revenue from operations	-	6	93	6	110
.,
	Segmentresults (Profit/(Loss)before interestand tax from			!
	ordinaryactivities)
(a)Ill)	Real Estate	-	-		41	1,443
	Grey Iro11 Casting	(248)	(203)	812	(135)	868
	Total	(248)	(203)	812	(94)	2,311
	Less'I) Finance costs	52	43	I	211	579
	II) Un-allocableexpenditurenet of un-allocableincome	88	141	(49)	31 I	(II)
	(Loss)/Profitbefore tax	(388	(387)	860	(616	1,743
.'	Segment assets
In)	Real Estate	299	301		299	-
till	Cre~ IrOI1 Casting	4,511	4,737	5,197	4,511	5,197
	Total segment assets	4,810	5,038	5,197	4,810	5,197
	Others un-allocated	5,080	5,173	5,726	5,080	5,726
	Tota I assets	9,890	10,211	10,923	9,890	10,923
4	Segmentliabilities
(a)	Real Estate	7,288	7,038	3,416 .	7,288	3,416
t b)	Grey Iron Casting	1,140	1,329	3,106	1,140	3,106
	Total segment liabilities	8,428	8,367	6,522	8,428	6,522
	Others un-allocated(excludingborrowings)	672	674	733	672	733
	Total liabilities	9,100	9,041	7,255	9,100	7,255

• 1. This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015, as amended (lnd AS), prescribed under Section 133 of the Companies Act, 2013, and other recognized accounting practices and policies to the extent applicable.
• 1. In view of continued situation of industrial unrest at Engineering Business Undertaking (refer as Engineering Division) of the Company, situated at Village Asron, District Shaheed Bhagat Singh Nagar (Punjab), the management of the Engineering Division has recommended to declare a lockout. The Board of Directors of the Company in their meeting held on October 21, 2019 has accordingly approved the declaration of lockout at its said Business Undertaking w.e.f. October 22,2019.

The said lockout was opposed by the workmen of said Engineering Division before the Labour Authorities and presently the matter remained sub-judice before thelabour authorities. Based on the legal advice received by the Company, the management is of the view that the present lockout is legal and justified. Therefore, the Company has not made any provision for wages pertaining to the lockout period October 22, 2019 to March 31, 2023 aggregating to Rs. 5847 lakh out of which Rs. 321 lakh pertain to quarter ended on March 31, 2023.

iI. The Board of Directors of the Company in its meeting held on November 28,2019, have approved a composite scheme of arrangement for transfer of its "Engineering Business undertaking "to its wholly owned subsidiary namely DCM Engineering Limited (formerly known as DCM Tools and Dies Limited), on a going concern basis with effect from the appointed date of October 01, 2019, and restructuring of outstanding loans, debts and liabilities of said Engineering Business Undertaking. The said Scheme could not be filed with Hon 'ble National Company Law Tribunal (NCLT) for seeking their approval under Section 230 - 232 of the Companies Act, 2013 awaiting in principle approval of secured lenders (Banks) due to default in payment of their dues.

Further, the Company has paid its creditors including the banks. Hence, the section II of the said Composite Scheme of Arrangement approved by the Board on November 28, 2019 relating to restructuring of outstanding loans and liabilities of Engineering Business Undertaking, has become infructuous.

Given the above, the Company has decided in its meeting held on May 29,2023 to withdraw the said original Composite Scheme of Arrangement approved by the Board on November 28, 2019 and to make a fresh proposal for restructuring of the engineering business of the Company in consultation with Legal and Tax Consultant after its approval by the Board.

Pursuant to above, accounting effect of the above Scheme has not been considered in these standalone financial results.

• 1. Other income includes income from transfer of right in residential flats of amount Rs. Nil for the quarter ended March 3 I, 2023 and Rs. 41 lakh for the twelve months ended March 3 I, 2023 and Liabilities / Provision no longer required written back of amount Rs. 60 lakh for the quarter ended March 3 I, 2023 and Rs. 927 for the twelve months ended March 31, 2023.
• 1. Pursuant to repayment of dues to all the banks as well as majority of the claims of other creditors, the recovery suits/ petitions filed by the Banks and/or other creditors have been withdrawn.
• 1. The Company is in process of developing its 68.35 acres of land situated in the revenue state of Village Bir Hisar, Sector-23, Hisar, Haryana (referred as Hisar land). The Company has signed a joint development agreement in this regard on 11th August, 2022 with a party which is subject to fulfilment of celtain terms and conditi 1S by the said party as well as receipt of regulatory approvals. In this connection, the Cornp ived a license no.179 of 2022 in joint development with the said

party on November 10, 2022 in respect of 67.275 acres of said Hisar land (referred as Project land) under Regulation of Urban Area Act, 1975 for setting up of affordable residential plotted colony under Deen Dayal Jan Awas Yojana-2016 (referred as Project). Following the receipt of said License, the Company has converted its said Project land from capital asset viz. property, plant and equipment, into stock in trade during the quarter ended 31 st December 2022.

Subsequent to the year end, Director General, Town and Country Planning, Haryana has suspended the said licensee no.179 of 2022 taking a note that an enquiry has been initiated against the Company by Deputy Commissioner in respect of the Company's land at Hisar.

As per said order, the licensee is directed not to carry out any development work in the Colony and also not to create another third party rights unless the said suspension is revoked. The Company is taking appropriate action in the matter for the revocation of said suspension order.

The matter remains pending as on date of approval of these audited results.

1. Pending revocation of suspension of license no.179 of2022 by Director General, Town and Country Planning, Haryana, the advance of Rs. 5000 lakh received by the Company under the said Joint development agreement dated llth August, 2022 (JDA) (refer note 7 above), has been shown under the current liabilities. Pursuant to above, the current liabilities of the Company Including the said advance of Rs. 5000 lakh received under JDA exceed the current assets by Rs. 3782 lakh as at March 31,2023. As per the legal advice received by the Company, the management holds the view that the sa id suspension order of license nO.179 of 2022 is likely to be revoked soon.

The management bel ieves that with the revocation of said suspension order of license no.179 of 2022 and infusion of liquidity by focusing /managing of its real estate operation and/or the Company's plans of restructuring of its Engineering Business Undertaking as well as other interim measures to improve liquidity, the Company will be able to continue its operation for the foreseeable future.

Accordingly, the financial results of the Company have been prepared on a going concern basis.

• o The Company has reviewed the deferred tax asset/deferred tax liabilities on deductible/taxable temporary differences between tax base of asset and liabilities and their carrying amount for financial reporting purposes at each reporting date. However, due to continue situation of uncertainty of sufficient taxable profit to recover the accumulated losses and unused tax credits taxable profits in future years, deferred tax asset have not been considered in the financial results.
• 1. The figures for the quarter ended March 31, 2023 and March 31, 2022 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the relevant financial year.
• 1. The figures for the previous periods have been regrouped / rearranged wherever necessary.
• 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 29, 2023. The audit report of the statutory auditors is being filed with the BSE Ltd and National Stock Exchange ofIndia Ltd. For more details on the standalone results, visit Company's website www.dcm.in and Financial Results under Corporates section of www.nseindia.corn and www.bseindia.corn.

Place: Delhi Date: May 29, 2023 DIN: 05127804

CHARTERED ACCOUNTANTS 5 5 KOTHARI MEHTA & COMPANY

Independent Auditor's Report on the Quarterly and Year to Date Consolidated 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 DCM Limited New Delhi

Report on the audit of the Consolidated Financial Results

Opinion

• 1. We have audited the accompanying statement of quarterly and year to date consolidated financial results of DCM Limited ("Holding Company" or. "Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") and joint venture (including its subsidiary companies referred to as "jointly controlled entities") for the quarter and year ended March 31, 2023 C'Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
• 1. In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate audited financial statements of the subsidiaries and joint venture and management certified financial statements of a subsidiary, the Statement,
  • I. includes the results of the following entities:

a. Subsidiaries

• i. DCM Landmark Estates Limited (formerly known as DCM Textiles Limited)
• ii. DCM Infinity Realtors Limited (formerly known as DCM Data Systems Limited)
• iii. DCM Infotech Limited (formerly known as DCM Reality Investment &. Consulting Limited)
• iv. DCM Engineering Limited (formerly known as DCM Tools and Dies Limited)
• v. DCM Realty and Infrastructure Limited
• vi. DCM Engineering Products Educational Society

b. Joint Venture and its subsidiaries

• i. Purearth Infrastructure Limited, Joint Venture (joint venture entity)
• ii. Kalptru Reality Private Limited (subsidiary of joint venture entity)
• iii. Kamayani Facility Management Private Limited (subsidiary of joint venture entity)

Page 1 of 7

• iv. Vighanharta Estates Private Limited (subsidiary of joint venture entity)
• II. are presented in accordance with the requirements of the Listing Regulations in this regard; and
• III. gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net (Ioss)/profit and other comprehensive income and other financial information of the Group for the quarter and year ended March 31, 2023.

Basisfor Opinion

1. We conducted our audit in accordance with the Standards on Auditing (SAsL as specified under Section 143(10) of the Companies Act, 2013, as amended "("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Results" section of our report. We are independent of the Group 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 statements under the provisions of the Act and the Rulesthereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports and information provided by the Company for management certified financial statements for its subsidiary as referred to in "Other Matter" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

1. We draw attention to Note 3 to the accompanying statement, during the earlier year in view of continued situation of industrial unrest, Holding Company has declared lockout at its engineering business undertaking. On the basis of legal advice, Management of the Holding Company is of the view that the present lockout is legal and justified and therefore, the Holding Company has not made any provision for wages pertaining to the lockout period from October 22, 2019, to March 31, 2023, aggregating to Rs. 5,847 lakhs (current quarter 321 lakhs). Our opinion is not modified in respect of this matter.

Material Uncertainty on Going Concern

1. We draw attention to Note 7 and 8 of the Statement highlighting that the Company has entered into a Joint Development Agreement (JDA) with a strategic partner for development of Land situated at Hisar, Haryana to revive the Company's operation ,restore profitability and infuse sufficient liquidity. This JDA is effective subject to fulfilment of certain terms and conditions by

Page2 of 7

CHARTERED ACCOUNTANTS 5 5 KOTHARI MEHTA & COMPANY

the said party as well as receipt of regulatory approvals which has been complied by the Company.

Subsequent to the year end, Director General, Town and Country Planning, Haryana has suspended the licence for development of the said land taking a note that an enquiry has been initiated against the Company in respect of the Company's land at Hisar. As per said Order, the licensee is directed not to carry out any development work on the above-mentioned land at Hisar and also not to create any third party rights unless the said suspension is revoked. The Company is taking appropriate action in the matter for the revocation of said suspension Order.

!

Pending revocation of said suspension of license, the advance of Rs. 5000 lakh received by the Company under the said JDA, has been shown under the current liabilities. Pursuant to above, the current liabilities of the Group and joint venture including the said advance of Rs.5000 lakh received under JDA exceed the current assets by Rs 1,857 lakh as at March 31, 2023. The management of the Group holds the view that the Group has merits in the case and is confident to get favourable order in the said matter of revocation of suspension order.

The management believes that with the revocation of said suspension Order of license and infusion of liquidity by focusing /managing of its real estate operation and/or the Company's plans of restructuring of its Engineering BusinessUndertaking as well as other interim measures to improve liquidity, the Company will be able to continue its operation for the foreseeable future. Accordingly, the financial results of the Company have been prepared on a going concern basis.

Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Consolidated Financial Results

1. The Statement has been prepared on the basis of the consolidated annual:financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group in accordance with the applicable accounting standards 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. The respective Board of Directors of the companies included in the Group and jointly controlled entities are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group 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 the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the

Page3 of 7

accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

CHARTERED ACCOUNTANTS

& COMPANY

5 5 KOTHARI MEHTA

• 1. in preparing the Statement, the Board of Directors of the Company included in the Group and jointly controlled entities are responsible for assessing the ability of the Group and jointly controlled entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group or to cease 6perations, or has no realistic alternative but to do so.
• 1. The respective Board of Directors of the company included in the Group and jointly controlled entities is responsible for overseeing the financial reporting process of the Group and jointly controlled entities.

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

• 1. Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 the Statement.
• 1. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
  • identify and assess the risks of material misstatement of the Statement, 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, intentionai 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. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

Page 4 of7

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.

CHARTERED ACCOUNTANTS

& COMPANY

5 5 KOTHARI MEHTA

• 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 ability of the Group and jointly controlled entities 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 Statement 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 Group and jointly controlled entities to cease to continue as a going concern.
• Evaluate the overall presentation, structure, and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achievesfair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial results/financial statements/financial information of the entities within the Group and jointly controlled entities of which we are the independent auditors to express an opinion on the Statement. We are responsible for the direction, supervision, and performance of the audit of the financial information of such entities included in the Statement of which we are the independent auditors. For the other entities included in the Statement, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
• 1. We communicate with those charged with governance of the Holding Company and such other entities included in the Statement of which we are the independent auditors 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.
• 1. We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the SEBIunder Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Page5 of 7

CHARTERED ACCOUNTANTS 5 5 KOTHARI MEHTA & COMPANY

13. Other Matters

• i. The Statement includes the audited financial results of four subsidiaries, whose financial statements reflect total assets of Rs.6 lakh as at March 31, 2023, total revenue of Rs.Nil and Rs.Nil, total net loss after tax of (Rs.1 lakh) and (Rs. 1 lakh), and total comprehensive loss of (Rs.1 lakh) and (Rs. 1 lakh) for the quarter and year ended March 31, 2023 respectively, and net cash outflow of Rs.366 lakh for the year ended March 31, 2023, which have been audited by their respective independent auditors. The independent auditors' reports on financial statements of these entities have been furnished to us and our opinion on the Statement in so far as it relates to the amounts and disclosures included in respect of these entities, is based solely on the report of such auditors and the procedures performed by us are as stated in paragraph 12 above.
• ii. The accompanying Statement include the Group's share of profit including other comprehensive profit/(Ioss) of Rs. 7 lakh and Rs. 116 lakh for the quarter and year ended March 31, 2023 respectively in respect of one Joint venture entity and its three subsidiaries, whose financial statements have been audited by their respective independent auditors. The independent auditor's report on consolidated financial statements/information of the Joint venture have been furnished to us and our opinion. in so far as it relates to the amounts and disclosures included in respect of the Jointly controlled entities, is based solely on the report of such auditor and the procedures performed by us as stated in paragraph 12 above.
• iii. The Statement includes the unaudited financial results of one subsidiary, whose financial statements reflect total assets of Rs.12 lakh as at March 31, 2023, total revenue of Rs.Nil and Rs. Nil and total net loss after tax of (Rs.0 lakh) and (Rs.0 lakh), total comprehensive loss of (Rs.0 lakh) and (Rs.0 lakh) for the quarter and year ended March 31, 2023 respectively, and net cash inflow of Nil for the year ended March 31, 2023. This unaudited financial information has been furnished to us by the Board of Directors and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary is based solely on such management certified unaudited financial information. In our opinion and according to the information and explanations given to us by the Board of Directors, this subsidiary is not considered material to the Group.

Our opinion on the statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of respective independent auditors and the financial information certified by the management.

1. The Statement includes the results for the quarter ended March 31, 2023, being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2023, and the published unaudited year-to-date figures up to the end of the third quarter of the

Page6 of 7

current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

CHARTERED ACCOUNTANTS

& COMPANY

S S KOTHARI MEHTA

For S. S. KOTHARI MEHTA & COMPANY

Chartered Accountants

FRN:OG6~ <\ \JV" ~ -tAmit Gael Partner

Membership No. 500607

Place: New Delhi Date: May 29,2023 UDIN : 23500607BGURLH4277

Page 7 of 7

DC M LIMITED

I~egd. Office: 2050-2052, 2nd Floor, Plaza-II, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi - 110006 E-nlllil: investors(@dcm.in Phone: 011-41539170 CI:,: L74899DLl889PLC000004

ST-\TEi\1 E.'IITOF AliDITED CONSOLIDATED FINANCIAL RESULTS FOR TI-IE QUARTER AND YEAR ENDED MARCH 31, 2023

	(Rupees in lakh)
			For the quarterended		For the year ended
	S.No. Particulars	March 31, 2023	December 31,2022	March 31, 2022	March 31, 2023	March 31, 2022
		Audited(Refer Note 11\	Unaudited	AuditedlRefer Note 11	Audited	Audited
I	Revenue
( <i)< td="">Re\ enue from operations1,7071,6791,9766,9456,977</i)<>	Re\ enue from operations	1,707	1,679	1,976	6,945	6,977
(b )	Other income (refer Note 5)	100	76	1,329	1,176	3,738
	Total income	1,807	1,755	3,305	8,121	10,715
~	Expenses
(a)	Cost of materials consumed	-	-	-	-	-
(b)	Changes in inventories of finished goods and work in progress	-	-	41	-	41
(c)	Employee benefits expense	1,006	i.ooo	948	4,030	3,885
(d)	Finance costs	55	44	3	219	590
(e)	Depreciation and amortization expense	171	167	193	699	814
(f)	Other expenses	743	643	975	2,801	2,687
--_.	Total expenses	1,975	1,854	2,160	7,749	8,017
3	PI-olit/(Loss) before ton	(168)	(99)	1,145	372	2,698
,1	Share of Profit/t l.oss) of equity accountedinvestee	9	25	(14)	1\7	517
5	Profit/t l.oss) before tax	(159)	(74)	1,131	489	3,215
6	Tax expense
	Current tax	61	72	71	256	231
	1,,\ adjustment relating to prior periods	-	-	I	-	(34)
	Deferred tax expense	2	(2)	7	-	I
	Tota I tax expense	63	70	79	256	198
7	Profit/CLoss) for the period/ year	(222)	(144)	1,052	233	3,017
8	Other comprehensiveincome
(a)	Items that will not be reclassified to profit or loss
	(losses)/ gains of defined benefit obligations (net ofRe-rneasuremern	\I	20	35	70	83
	tax)
o»	Items that will be reclassified to profit or loss
	Exchange difference in translating financial statements of foreign
	operations (net of tax)	-	-	-	-	-
(c)	Share in other comprehensive income/(expense) of joint venture (net
	of tax)	(2)	I	-	(I)	I
7	Total comprehensiveIncome/(Loss)for the period/ year	(213)	(123)	1,087	302	3,101
g	°Paid up equity share capital (Face value Rs. Iper share)	1,868	1,868	1,868	1,868	1,868
<)	Other equity				(372)	(674)
10	Earnings/ (loss) per equity share (EPS) of Rs 10 each
	(not annualised)
	Basic and Diluted	(\19)	(077)	5_63	1.25	16_15

Rcgd. Office: 2050-2052, 2nd Floor, Plaza-ll, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi-110006 E-mail: investors@dcm.in Phone: 011-41539170

STATEMENT OF AUDITED CO SOLIOATED ASSETS AND LIABILITIES ASAT MARCH 31, 2023

		\ kh)(Runees m a
	As at	As at
Particulars	March31, 2023	March31, 2022
	Audited	Audited
ASSETS
Non-currentassets
Property, plant and equipment	3,433	4,227
Right to use assetsIntangible assets	49	57
I inaucial assets	5	7
Investments	!1,216	1,099
Other financial assets	943	252
Deferred tax assets (net)	53	56
Non-currenttax assets (net)	401	397
Other non-current assets	748	743
Totalnon-currentassets	6,848	6,838
CUITcnl assets
111\ cntorjcs	1,174	,059
Financial assets
Trade receivables	1,20\	1,537
Cash and cash equivalents	802	828
Bank balances other than cash and cash equivalents	405	521
Loans	19	19
Other financial assets	374	476
Other current assets	370	206
i\SSCb held lor sale	205	205
Total currentassets	4,550	4,851
Total assets	11,398	11,689
EQUITYAND LIABILITIESEquityEquity share capital	1,868	1,868
Other equity	(372)	(674)
Total equity	1,496	1,194
Liabilities
Non-currentliabilities
Financial liabilities
Lease liabilities	12	32
Other financial liabilities	2,817	2,444
Provisions	:666	824
Total non- currentliabilities	3,495	3,300
CUITent liabilitiesFinancial liabilities
Borrowings	-	2,327
Lease Liabilities	45	39
Trade payables
Dues to micro and small enterprises	23	66
Dues to others	330	1,095
Other financial liabilities	5,574	3,083
Other current liabilities	303	391
Provisions	96	156
Current tax liabilities (net)	36	38
Total currentliabilities	6,407	7,\95
-/,~~.!.coTotal equity and liabilities	11,398	11,689
d'e:Iii'l!,<ii,(/</ii	~~-/(<br>-I'~''t./····0J;({fl ~(

I) C .'1 Limited

Consolidated Cash Flow Statement for' the yeal' ended March 31, 2023

		(Rupees in lakh)
Particulars	For the year endedMarch 31, 2023	For the year endedMarch 31, 2022
Cash now from operatingactivities
Profil/(Loss)before taxation	489	3,215
for'.vdjustments
Depreciationand amortisationexpense	699	814
Profit on assets sold or discarded(net)	(3)	(5)
Income from sale of rights in flats		(96)
Liabilitiesno longer requiredwritten back	(941)	(2,110)
Dividendincome
Interest income	(57)	(28)
Impairmentin the value of inventory	55
Finance costs	219	590
Finance lease income		(0)
Reversal of expectedcredit loss		6
Bad debts and irrecoverablebalanceswritten off		0
Inventory of stores and spares written off	4	212
Investmentwritten off		1
Share of (Profitj/lossin jointlycontrolledentity	(117)	(517)
cash flow before working capital changesOperating	348	2,082
\VOI'king capital changes
(Increase)/decreasein inventories	I	256
(Increase)/decreasein trade receivables	336	(501)
(Increase )/decreasein loans	(0)	5
(Increase)/decreasein other financialassets	234	(729)
(Increase)/decreasein other assets	(151)	1,623
Increase/ (decrease)in trade payables	(740)	(2,844)
Increase/(decrease)in provisions	(146)	(80)
Increase/(decrease)in financialliabilities	2,245	1,592
Increase/(decrease)in other liabilities	(87)	49
Cash (used in) / generatedfrom operations	2,040	1,453
Income tax paid(net of refund)	(261)	(291)
Net cash generated from operating activities (A)	1,779	1,162
Cash {low (rom investing activities
Payment towardsproperty.plant and equipment(includingcapital
advances)	(45)	(17)
Net proceedsfrom sale of rights in flats		(18)
Payment towardspurchaseof rights in flats	15	90
Interest receivedon financialassets measuredat amortisedcost	44	28
Maturity of / (Investmentin) bank deposits(net) not consideredas
cash and cash equivalents	(305)	(8)
Net cash (used in) / generated from investing activities (B)	(291)	75
Cas!1[low (rom {iJ1(lIIcingactivities
Repaymentof borrowings	(378)	(223)
Changesin workingcapital borrowings	(1,076)	(568)
Payment towardslease liability	(52)	(34)
Interest paid ( Includinginterest on lease liablity)	(8)	(II)
Net cash used in financingactivities (C)	(1,514)	(836)
	(26)	401
Net cash flows [increase / (dccrcase)] during the year (A+B+C)
Cash and cash equivalentsat the beginningof the yearCash and cash equivalentsat the end of the year	828802	427828

486	532
315	295
	828

DC M LIMITED

:'\otcs:

I. Consolidated segment wise information for the quarter and year ended March 31, 2023

	(Rupeesin lakh)
			For the quarterended		For the yearended
			31,December
S.No.	Particulars	31, 2023March	2022	31, 2022March	31,2023March	31, 2022March
		Audited		Audited
		11)(ReferNote	Unaudited	11)(ReferNote	Audited	Audited
I	Segmentrevenue
a)	IT Services	1,707	1,673	1,883	6,939	6,867
b)	Rea! estate			-	-	-
c)	Grey Iron Casting	-	6	93	6	110
d)	Others	-	-	-	-	-
	Total	1,707	1,679	1,976	6,945	6,977
	Less:Intersegmentrevenues	-	-	-	-	-
	Net revenuefromoperations	1,707	1,679	1,976	6,945	6,977
	Segmentresults(Profit/(Loss)beforeinterestandtax from		!
.)	ordin"H·~1 activities)
a)	IT Services	214	257	251	909	829
b)	Real Estate	-	-	-	41	1,539
c)	Grey Iron Casting	(248)	(203)	812	(135)	868
d)	Others	-	(1 )	(1 )	(1 )	(2)
	Total	(34)	53	1,062	814	3,234
	LessI) Financecosts	55	44	3	219	590
	II) Un-allocableexpenditurenet ofun-allocableincome	79	108	(86)	223	(54)
	Shareof Profit/(Ioss)of equityaccountedinvestee	9	25	(14)	117	517
	Profit/fLnss) beforetax	(159)	(74)	1,131	489	3,215
3	Segmentassets
a)	IT Services	3,533	3,400	2,949	3,533	2,949
b)	Real Estate	293	295	-	293	-
c)	Grey Iron Casting	4,511	4,737	5,197	4,511	5,197
dl	Others	19	19	13	19	13
	Totalsegmentassets	8,356	8,451	8,159	8,356	8,159
	Othersun-allocated	3,042	3,128	3,530'	3,042	3,530
	Totalassets	11,398	11,579	11,689	11,398	11,689
4	Segmentliabilities
a)	IT Services	799	829	954	799	954
		7,288	7,038	),416	7,288	3,416
b)	Real Estate
c)	Grey Iron Casting	1,140	1,329	3,106	1,140	3,106
ell	Others	10	10	10	10	10
	Totalsegmentliabilities	9,237	.9,206	7,486	9,237	7,486
	Othersun-allocated(excludingborrowings)	665	666	682	665	682
	Totalliabilities	9,902	9,872	8,168	9,902	8,168

• 1. This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 20 IS, as amended (lnd AS), prescribed under Section 133 of the Companies Act, 2013, and other recognized accounting practices and policies to the extent applicable.
• 1. In view of continued situation of industrial unrest at Engineering Business Undertaking (referred as Engineering Division) of the Holding Company, situated at Village Asron, District Shaheed Bhagat Singh Nagar (Punjab), the management of the Engineering Division has recommended to declare a lockout. The Board of Directors of the Holding Company in their meeting held on October 21, 2019 has accordingly approved the declaration oflockout at its said Engineering Business Undertaking w.e.f. October 22, 2019.

The said lockout was opposed by the workmen of said Engineering Division before the Labour Authorities and presently the matter remained sub-judice before the labour\ authorities. Based on the legal advice received by the Holding Company, the management ofthe Holding Company is of the view that the present lockout is legal and justified. Therefore, the Holding Company has not made any provision for wages pertaining to the lockout period October 22,2019 to March 31, 2023 aggregating to Rs. 5,847 lakh out of wh ich Rs. 321 lakh pertain to quarter ended on March 31, 2023.

1. The Board of Directors of the Holding Company in its meeting held on November 28,2019, have approved a composite scheme of arrangement for transfer of its "Engineering Business undertaking" to its wholly owned subsidiary namely DCM Engineering Limited (formerly known as DCM Tools and Dies Limited), on a going concern basis with effect from the appointed date of October 01, 2019 and. restructuring of outstanding loans, debts and liabilities of said Engineering Business Undertaking. The said Scheme could not be filed with Hon'ble National Company Law Tribunal (NCLT) for seeking their approval under Section 230-- 232 of the Companies Act, 2013 awaiting in principle approval of secured lenders (Banks) due to default in payment of their dues.

Further, the Holding Company has paid its creditors including the banks. Hence, the section II of the said Composite Scheme of Arrangement approved by the Board of Holding Company on November 28, 2019 relating to restructuring of outstanding loans and liabilities of Engineering Business Undertaking, has become infructuous.

Given the above, the Holding Company has decided in its meeting held on 29th May 2023 to withdraw the said original Composite Scheme of Arrangement approved by the Board on November 28,2019 and to make a fresh proposal for restructuring ofthe engineering business of the Company in consultation with Legal and Tax Consultant after its approval by the Board.

Pursuant to above, accounting effect of the above Scheme has not been considered in these consolidated financial results.

• 1. Other income of the Holding Company includes from transfer of right in residential flats of amount Rs. Nil for the quarter ended March 31, 2023 and Rs. 41 lakh for the twelve months ended March 31, 2023 and Liabilities / Provision no longer required written back of amount Rs. 60 lakh for the quarter ended March 31,2023 and Rs. 927 lakh for the twelve months ended March 31, 2023.
• 1. Pursuant to repayment of dues to all the banks as well as majority of the claims of other creditors by the Holding Company, the recovery suits/ petitions filed by the Banks and/or other creditors have been withdrawn.

of certain terms and conditions by the said party as well as receipt of regulatory approvals. In this connection, the Holding Company has received a license no.179 of 2022 in joint development with the said party on November 10,2022 in respect of 67.275 acres of said Hisar land (referred as Project land) under Regulation of Urban Area Act, 1975 for setting up of affordable residential plotted colony under Deen Dayal Jan Awas Yojana-20 16 (referred as Project). Following the receipt of said License, the Holding Company has converted its said Project land from capital asset viz. property, plant and equipment, into stock in trade during the quarter ended 3 Ist December 2022.

Subsequent to the year end, Director General, Town and Country Planning, Haryana has suspended the said licence no.179 of 2022 taking a note that an enquiry has been initiated against the Company by Deputy Commissioner in respect of the Holding Company's land at Hisar.

As per said order, the licencee is directed not to carry out any development work in the Colony and also not to create another third party rights unless the said suspension is revoked. The Holding Company is taking appropriate action in the matter for the revocation of said suspension order.

The matter remains pending as on date of approval ofthese audited results.

1. Pending revocation of suspension of license no.179 of 2022 by Director General, Town and Country Planning, Haryana, the advance of Rs. 5000 lakh received by the Holding Company under the said Joint development agreement dated 11th August, 2022 (JDA) (refer note 7 above), has been shown under the current liabilities. Pursuant to above, the current liabilities of the Group Including the said advance of Rs. 5000 lakh received under JDA exceed the current assets by Rs. 1857 lakh as at March 31,2023. As per the legal advice received by the Group, the management holds the view that the said suspension order of license no.179 of2022 is likely to be revoked soon.

The Holding Company management believes that with the revocation of said suspension order of license no. 179 of2022 and infusion of liquidity by focusing /managing of its real estate operation and/or the Holding Company's plans of restructuring of its Engineering Business Undertaking as well as other interim measures to improve liquidity, the Holding Company will be able to continue its operation for the foreseeable future.

Accordingly, the financial results of the Holding Company have been prepared on a going concern basis.

• 1. The Holding Company has reviewed the deferred tax asset/deferred tax liabilities on deductible/taxable temporary differences between tax base of asset and liabilities and their carrying amount for financial reporting purposes at each reporting date. However, due to continue situation of uncertainty of sufficient taxable profit to recover the accumulated losses and unused tax credits taxable profits in future years related to holding Company, deferred tax asset have not been considered in the financial results.
• J O. The audited standalone financial results are available on the Holding Company's website www.dcm.in. The particulars in respect of Holding Company's standalone results are as under:

(Rs. in lakh)

Particulars		Quarterended		Year	Ended
	March312023	December31. 2022	March31. 2022	March31,2023	March31,2022
Revenuefrom ooerations	-	6	93	6	110
Profit/(Ioss)beforetax	(388)	(387)	860	(616)	1,743
Profitl(loss)aftertax	(388)	(387)	860	(616)	1 778
Totalcomprehensiveincome	(381)	(368)	888	(552)	1,854

I Profitbeforeinterest,depreciationand tax (PBIDT)	(181)	(195)	1040	226	3,084
Cashprofit/(loss)	(233)	(238)	1039	15	2,505

The audited consolidated financial results for the quarter and period ended March 31, 2023 & March 31, 2022 and unaudited consolidated results for the quarter ended December 31, 2022 have been prepared by the Group in accordance with the requirements ofInd AS 110 "Consolidated Financial Statements", Ind AS I I I "Joint Arrangements" and Ind AS 28 "Investments in Associates and Joint Ventures", as specified under Section 133 of the Companies Act, 2013, read with the Companies (Indian Accounting Standards) Rules, 2015 and on the basis of the separate audited financial results of the Parent Company, its subsidiaries, its trust and jointly controlled entity and subsidiaries ofthe jointly controlled entity.

\ The audited financial results of 6 subsidiaries namely DCM Infotech Limited (Formerly known as DCM Realty Investment & Consulting Limited), DCM Infinity Realtors Limited (Formerly known as DCM Data Systems Limited), DCM Landmark Estates Limited (Formerly known as DCM Textiles Limited), DCM Engineering Limited (Formerly known as DCM Tools & Dies Limited), DCM Realty and Infrastructure Limited and DCM Engineering Products Education Society (a trust treated as subsidiary for consolidation purpose) have been consolidated. Financial statements of S out of above 6 have been reviewed by their respective statutory auditors.

• II. The figures for the quarter ended March 31, 2023 and March 31, 2022 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the relevant financial year.
• 1. The figures for the previous periods have been regrouped / rearranged wherever necessary.
• 1. The above resu Its have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 29, 2023. The audit report of the statutory auditors is being filed with the BSE Ltd and National Stock Exchange of India Ltd. For more details on the consolidated results, visit Company's website www.dcm.in and Financial Results under Corporates section of www.nseindia.com and www.bseindia.corn.

Place: Delhi Date: May 29, 2023 DIN: 05127804

For and on behalf of the Board of Directors

L~~ Bipin Maira ~

Chairman

May 29, 2023

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400 001 Scrip Code: 502820

National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/l, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051 Scrip Code: DCM

ISIN: INE498A01018

\ Sub: Declaration pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir,

In terms of regulation 33(3)(d) of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, read with SEBI circular no, CIR/CFD/CMD/56/2016 dated May 27, 2016, I Ashwani Kumar SInghal, Chief Financial Officer of the Company hereby declare that M/ s S S Kothari Mehta & Company, Chartered Accountants, New Delhi (Registration No, 000756N), the Statutory Auditors of the Company have issued an Audit Report with unmodified opinion on the audited financial results of the Company for the period ended on 31st March 2023 (both Standalone and Consolidated).

Kindly take this declaration on record.

Thanking You,