November 14, 2019

~imited . Flor 25, Phiroze Jee]eebhoy Towers, Dalal Street, Mumbai-400001

. k Exchange of India Limited Nahona c Exch ge Plaza, PI no. en, G-Block, andra -Kurla Complex, "Bandra (E), Mumbai-400051

Scrip Code: S02820jDCM

Subject: Outcome of Board Meeting held on November 14, 2019

Dear Sir,

This is to inform you that the Board of Directors of the Company at its meeting held today have:

1. Approved and taken on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the 2nd quarter and half financial year ended September 30, 2019. Accordingly pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, please find enclosed herewith following (as Annexure 1):-
1. Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended on September 30, 2019;
ii. Unaudited statement of Assets &Liabilities (Standalone and Consolidated) for the quarter and half year ended on September 30, 2019;
ill. Unaudited Cash flow statement (Standalone and Consolidated) for the half year ended September 30, 2019;
iv. Limited Review Report on the Unaudited Financial Results (Standalone and Consolidated).
1. ~pPOinted Dr. Kavita -: Sharma (D~N-07080946),as Independent Director of the o~pany for a term of five consecutive years with effect from November 14 2019 subject to the approval of members of the Company. Necessary Information ~ ~e~p~cSet of Dr. Kavita A Sharma as per SEBICircular No. CIR/CFD/CMD/4/2015 a e ptember 9, 2015 read with Regul ti 30 P of SEBI (Listin Oblizati . a on - ara A of Part A of Schedule III enclosed herewfth as l:~:r:_I~lSclosure Requirements) Regulations, 2015 is

Please acknowledge receipt of the same.

Thanking you, Yours truly, For DCM Limited ~ Vimal Prasad Gupta

Company Secretary & '-t:lI.H.lIJ FCS 6380 End. - As above

e-mail id:[email protected]

Vikr RegisteredOffice . ¹ ant Tower 4 Rai dr PI . Phone. 0" ~en a ace, New Delhi-]] 0008 eIN: L74899DL1889PLC~0IdJo!5~~~i~e.Fax: (011).25765214 . www.dcm.m E-mail· dcmltd@d . . cm.m

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

Review Report to The Board of Directors, DCM Limited New Delhi

1. We have reviewed the accompanying statement of unaudited standalone financial results of DCM Limited (the "Company") for the quarter and half year ended September 30, 2019 ('the 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 as amended (the "Listing Regulations"), which has been initialled by us for identification purposes.
1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013, as amended (the Act), read with the Listing Regulations is the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.
1. 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 is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.
1. 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 Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

5. Material Uncertainty on Going Concern

We draw attention to Note 4 of the Statement highlighting that due to below par performance of its Engineering Division the Company is currently facing liquidity issues towards clearing of statutory dues, vendor payments and loans of the Engineering Division. The Company's net worth is also substantially reduced, and the current liabilities exceed the current assets by Rs. 7,118 lakhs as at September 30, 2019.

Page 1 of 2

During the current quarter, the Company has transferred its IT Division to is one of the wholly owned subsidiary.

^S ^S KOTHARI MEHTA ------ & COMPANY

CHARTERED ACCOUNTANTS

All the above facts indicate material uncertainty as to the Company's ability to continue as a going concern. The said note also indicates the Company's future plans to mitigate these uncertainties with regard to its gOing concern.

Our conclusion is not modified in respect of this matter.

6. Other matters:

The review of unaudited quarterly and year to date financial results for the period April 1, 2018 to September 30,2018 and audit of the financial statements for the year ended March 31, 2019 & review of unaudited financial results for the quarter ended June 30, 2019 was carried out and report by BSR& Co, llP who have expressed their unmodified conclusion and unmodified opinion/conclusion vide their report dated November 13, 2018 and August 12, 2019 respectively.

For S.S. Kothari Mehta & Company Chartered Accountants Fi;:n~

Sunil Wahal Partner Membership No: 087294

Place: New Delhi Dated: November 14, 2019 UDIN: 19087294AAAAJE1766 DeM LIMITED

Regd.O(fice: Vikrallt Tower, 4 Rajendra Place. New Delhi. 110008 ClN: L74899DLI889PLCOOOOO4 E-mail: ill\'e>lors(Q)deDl.in Phone: 011-25719967

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2019

							(Rupees in Lacs
S. No.	Particulars		For !:'e quarter ended			For the half year ended	For the year ended
		September 30,2019	Juno 30, 2019	September 30, 2018	September 30,2019	September 30, 2018	March 31, 2019
		Unaudited (Rerer note 3)	Unaudited (Refer nolo 3)	Unaudited (Rtfer note 3)	Unaudited (Refer note 3)	Unaudited (Refer note 3)	Audiled (Refer eote 3)
I	Revenue
	(a) Revenue from operations	5,100	7,696	7,438	12,796	17,923	38,876
	(b) Other Income	1,662	821	155	2,483	212	312
	Total Income	6,762	8,517	7,593	15,279	18,135	39,188
I 2	Expenses
	(a) Cost of materials consumed	2,419	2,663	3,301	5,082	7,841	i6,540
I	(b) Changes In inventories of finished goods and work in progress	168	1,019	(375)	1,187	(820)	(1,575)
	Ie) Employee benefits expense (d) Finance costs	1,450 336	1.540 305	1,624 323	2,990 641	3,513 664	7,513 1,308
	(e) Depreciation and amortization expense	324	408	463	732	884	1,718
	(f) Other expenses	2,231	3,774	3,878	6,005	8,453	18,222
	Total exnenses	6,928	9,709	9,214	16,637	20,535	43,726
3	Profitl(loss) before tax	(166)	(1,192)	(1,621)	(1,358)	(2,400)	(4,538)
4	Tal. expense
	Current tax Tax adjustment relating to prior penods		-	97		168	80

	Total tax expense		-	97	-	168	80
S	Profit/Hoss) for the period from continuinR opeartlcns	(166)	(1,192)	(1,718	(1,358	(2,568	(4,618)
6	Profitl(loss) before tax for the period - discontinued operations	107	37	2,097	144	3,1J7	4,818
7	Income tax relating to discontinued operations			(3)
8	Profit/(Ioss) .fler tax for the period - discontinued operations	107	37	2,100	144	3,137	4,818
9	ProfiU(loss) for the period	(59)	(1,155)	382	(1,214)	569	200
10 (a)	Other comprt'beJlsh,t income Items that Will not be reclassified to profit or loss
	Re-measurernent (losses)! gains of defined benefit obligations	(3)	(4)	8	(7)	20	(16)
	(net of lax) Income tax relating to items that will not be reclassified to profit or loss		-
(b)	Items that will be reclassified 10 profil or loss Exchange difference in translating financial statements of	I	(I)	24		68	44
	foreign operations (net of tax) Income tax relating to items that will be reclassified to profit or loss
11	Total comprebensive income for the period	(61)	(1,160)	414	(1,221)	657	228
12	Paid up equny share capital (Face value Rs. 10 each)	\,867	1,867	1,867	1,867	1,867	1,867
13	Other equity						17,592
14	Earnings! (loss) per equity share (EPS) or Rs. 101- each
	(not annuaJised)
	Baste and diluted - from continuing operations Baste and diluted - from discontinued operations	(0.89) 0.57	(6.38) 0.19	(9.20) 11.25	(7.27) 0.77	(13.75) 16.80	(24.74) 25.81
	BaSIC and diluted	(0.32)	(6.19)	2.05	(6.50)	3.05	1.07

STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILITIES AS AT SEPTEMBER 30,2019

			(Rupees m'L acs
Particulars		As at	As at
		September 30,2019	March 31, 2019
		Unaudited	Audited
		(refer note 3)
ASSETS
Non-cu rrent assets Property, plant and equipment		6,245	17,217
Capital work-in progress		7	86
Right to use assets		25
Intangible assets		43	- 39
Financial assets
(i) Investments		3,356	3,356
(ii) Loans		653	1,031
(iii) Other financial assets		100	141
Deferred tax assets (net)		-	-
Non-current tax assets (net)		531	631
Other non-current assets		1,467	1,933
Total non-current assets		12,427	24,434
Current assets
Inventories		1,664	21,154
Financial assets
(i) Trade receivables (ii) Cash and cash equivalents		1,151 998	9,823
(iii) Bank balances other than (ii) above		135	1,363 247
(iv) Loans		36	48
(v) Other financial assets		143	192
Current tax assets (net)		1	17
Other current assets		131	1,406
Assets held for sale		212	213
Total current assets		4,471	34,463
Total assets		16,898	58,897
E;QUITY AND LIABILITIES
Equity
Equity share capital		1,868	1,867
Other equity		1,440	17,592
Total equity		3,308	19,459
Liabilities
Non-current liabilities
Financial liabilities
(i) Borrowings		311	5,994
(ii) Other financial liabilities		554	654
Provisions Total non- current liabilities		1,136 2,001	1,933 8,581

Current liabilities Financial liabilities
(i) Borrowings		2,697	15,237
(ii) Trade payables
Dues to micro and small enterprises		1,842	2,085
Dues to others		4,074	5,927
(iii) Other financial liabilities		2,119	5,740
Other current liabilities		511	1,353
Provisions		221	390
Current tax liabilities (net)		125	125
Total cu~tljlll1ilit.ies ~		11,589	30,857
TotalilPi~nal~es	/;:.~.!":_~~I;-~	16,898	58,897
\ / f'Q(' :\ \	\")) \0 :*n / /

DCMLimited Standalone Cuh flow statement for the half year ended September 30, 2019

		Amount (Rs. Lacs)
Particulars	For the half year ended September 30, 2019	For the half year ended September 30, 2018
	Unaudited (refer note 3)	Unaudited
Casb flow from operating activities
Profit before taxation - continuing operations	(!,358)	(2,400)
Profit before taxation - discontinued operations	144	3,137
Adjustments for:
Depreciation and amortisation expense	732	1,762
(Profit)/ loss on sale of property, plant and equipment (net)	(2,345)	(2)
Liabilities no longer required written back		136
Unrealised foreign exchange difference Interest income	(5)	86 (156)
Unwinding of discount on security deposits	(I)
Finance cost	641	1,373
Finance lease income	(6)	(9)
Allowance! (reversal) of expected credit loss	(48)	(41)
Loss on finance lease cancellation		[I
Remeasurement of revenue to finance income and lease receivable	44	67
Operating cub flow before working capital changes	(2,202)	3,964
Changes in assets and liabilities
(Increase) in inventories	2,546	10,995
(Increasej/decrease in trade receivables	1,372	(975)
(Increase }/decrease in loans	20	(92)
(Increase)/ decrease in other financial assets (Increase) in other assets	(164) 53	429 795
Increase! (decrease) in trade payable	(896)	(2,321)
(decrease) in provisions	(57)	(12)
Increase in financial liabilities	152	259
Increase!(decrease) in other liabilities	(433)	168
Cash generated from operations	391	13,210
Income-taxes (paid)/ refund	100	229
Net cash generated from operating activities (A)	491	13,439
Cub flow from inVesting activities
Purchase of property, plant and equipment	(118)	(355)
Net proceeds of sale of rights in flats
Purchase of intangible assets	(13)	(2)
Proceeds from sale of business Net proceeds of property. plant and equipment	800 1,447	9
Interest received	25	133
Deposits (made)/ matured not considered as cash and cash equivalents	90	60

Net cash generated from! (used) in Investing activities (8)	2,231	(155)
Cub flow from finanCing activities
Repayment of borrowings	(462)	( 1,386)
Proceeds from borrowings		167
Changes in working capital borrowings	(791) (40)	(10,958)
Payment towards lease liability Interest paid	(609)	(1,386)
Net cash (used) Inflnancing activities (C)	(1,902)	(\3,563)
Net casb flowslincreasel(decrease)1 during the year (A+B+C)	820	(279)
Impact of exchange rate change on cash and cash equivalent
Cash and cash equivalents at the beginning of the year	1,448	849
Cash and cash equivalents transferred on demerger of DCM Nouvelle Limited	(1,012)
Cash and cash equivalents transferred on sale of IT Division business	(192)
Cash and cash equivalents at the end of the year	1,064	570
Components of cuh and casb equivalents
Cash on hand	7	13
	1,057	268
Balances with scheduled banks:

	1,064	289 570

DeM LIMITED

Notes:

I. Standalone segment wise inrormation ror the quarter and half year ended September 30, 2019

							(Rupees in Lacs)
S. No.	Particulan		Quarter Ended		Half Year Ended		Year Eoded
		September 30, 2019	June 30, 2019	September 30, 2018	September 30, 2019	September 30, 2018	March 31,2019
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
I	Seament revenue· continuing operations
	a) Real Estate
	b) Grey Iron Casting	5,100	7,696	7,438	12.796	17,923	38.876
	Total Less : Inter leRmeRt revenues	5,100	7,696	7,438	12,796 -	17,923	38,876
	Net revenue from operations	5,100	7,696	7,438	12,796	17,923	38,876

2	revenue> discontinued Segmeat operltions
	a) Textile."			16,866		H,Ol6	66,749 4,379
	b) IT Services·	967	1,232	1,032	2,199	2,175
	Net revenue (rom operations	6,067	8,928	25,336	14,995	53,114	110,004

3	Segment results (Profit before interest and tax (rom
	ordinary activities)
	a) Real Estate				(2,439)
	b) Grey Iron Casting	(I,HO)	(1,109)	(1,047)		(1,206)	(1,841)
	Total	(1,330)	(1,109)	(1,047)	(2,439)	(1,206)	(1,841)
	Less: I) Finance costs	(336)	(305)	(323)	(641)	(664)	(1,308)
	II) Un-allocable expenditure net of
	un-allocable income/(expenditure)	1,500	222	(251)	1,722	(530)	(1,389)
	Profit/(Ios.) before tax -continuinR operation.	(166	(1,192)	(1,621	(1,358	(2,400	(4,538)
4	Profit before taI from discoatinued operations
	a) Textile "			2,049		3,025	4,641
	b) IT Services+"	107	37	48	144	112	177
	Profit/nOlI) befere tax	(59	(1,155)	476	(1,214	737	280

5	Segment 8Isees
	a) Texnle "	31	1,670	27,225 2,304	31	27,225 2,304	35,758 2,092
	b) IT Services • c) Real Estate	25	25	25	25	25	25
	d) Grey Iron Casting	9,623	13,245	14,955	9,623	14,955	14,256
	Total segment ••• ets	9,679	14,940	44,509	9,679	44,509	52,131
	Others un-allocated	7,219	7,237	6,632	7,219	6,632	6,766
	Total assets	16,898	22,177	51,141	16,898	51,141	58,897
6	Segment liabilities	,
	a) Textrle "			3,105		3,105	3,226
	b) IT Services'		874	454		454	495
	c) Real Estate	23	23	23	23	23	23
	d) Grey Iron Casting	8,514	9,720	9,329	8,514	9,329	9,592
	Total segment liabilities	8,537	10,617	12,911	8,537	12,911	13,336
	Others un-allocated (excludiru borrowings)	1,059	2,058	1,594	1,059	1,594	1,161
	Totalliabiliti ••	9,596	12,675	14,505	9,596	14,505	14,497

• Refer Note 3

(Continued ..... )

Notes:

This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (lnd AS), prescribed under Section 133 of the Companies Act, 2013, and other recognised accounting practices and policies to the extent applicable.

3. During the period

a) The National Company Law Tribunal (''NCLT''), vide its order dated 1 May 2019, has approved the Scheme of Arrangement ('the Scheme') between DCM Limited and DCM Nouvelle Limited, for the demerger of the Textile Division of DCM Limited, on a going concern basis with effect from I April 2019 (i.e. the appointed date). Consequently, the assets and liabilities aggregating Rs. 35,758 lacs and Rs. 20,833 lacs respectively, of the Textile Division of DCM Limited have been transferred with effect from the aforesaid appointed date to DCM Nouvelle Limited at their carrying values, determined in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (IND AS) prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India and the net assets aggregating Rs. 14,925 lacs is debited to 'Other Equity'. Pursuant to the aforesaid scheme, the entire share capital held by DCM Limited as on effective date (0 I April 2019) in DCM Nouvelle Limited has been cancelled.
b) Board of Directors have approved the slump sale of "IT Division" business undertaking to DCM Infotech Limited, a wholly owned subsidiary on a going concern basis with effect from September 16,2019 on the carrying value appearing as on 15.09.2019. Consequently, the assets and liabilities aggregating Rs. 1,556 lacs and Rs. 756 lacs respectively, of the IT Division of DCM Limited have been transferred with effect from the aforesaid appointed date to DCM Infotech Limited at their carrying values, determined in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (IND AS) prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India and the sale consideration aggregating Rs. 800 lacs is received during the period ended on September 30,2019.

Consequently, the financial results for the quarter and half year ended September 30, 2019 are not comparable with the previous periods.

						(Rs. in Lacs)
S.	Particulars		Quarter Ended		Half year	ended	Year
No.							Ended
		September	June 30,	September	September	September	March 31,
		30,2019	2019	30,2018	30,2019	30,2018	2019
I	Total Income	6,762	8,517	7,593	15,279	18,135	39,188
2	Total Expenses	6,928	9,709	9,214	16,637	20,535	43,726
3	(Loss) before tax	(166)	(1,192)	(1,621)	(1,358)	(2,400)	(4,538)
4	(Loss) after tax	(166)	(1,192)	(1,718)	(1,358)	(2,568)	(4,618)
5	Total comprehensive income	(168)	(1,197)	(1,686)	(1,365)	(2,480)	(4,590)
6	Earnings per share (Rs.) (not annualized)	(0.89)	(6.38)	(9.20)	(7.27)	(13.75)	(24.74)

Following is the financial results of the Company (excluding Textile Division and IT Division) to indicate comparison with the previous periods:

Due to the poor performance of its Engineering Division the Company is currently facing liquidity issues towards clearing of statutory dues, vendor payments and loans of the Engineering Division. The Company's net worth is substantially reduced and the current liabilities exceed the current assets by Rs. 7,1181akh as at September 30,2019.

During the current quarter, the Company has transferred its IT Division to one of its wholly owned subsidiary.

However, the management believes that the Company will be able to continue its operations on a going concern basis, by infusing liquidity in the system by monetizing other surplus assets and also focusing on the business strategy and future operating plans of the existing businesses, including proposal of strategic partnership for "capital and technology", which would help sustain the business operations and its growth.

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

1. Effective 01 April 2019, the Company has adopted IND AS 116 "Leases" using modified retrospective approach. This has resulted in recognizing right of use assets and lease liability as on 1 April 2019. The adoption of the Standard did not have any material impact on the financial results of the Company.
1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 14, 2019. The limited review 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 ofwww.nseindia.com and www.bseindia.com.

For and on behalf of the Board Dr.ViDayBba~?~( t. ~ Chairman DIN: 00052826

Place: New Delhi Date: November 14, 2019

S S KOTHARI MEHTA ---- & COMPANY CHARTERED ACCOUNTANTS

Review Report to The Board of Directors DCM Limited New Delhi

1. We have reviewed the accompanying statement of unaudited consolidated financial results of DCM Limited (the 'Parent' or 'Company'), its subsidiaries (the Parent and its Subsidiaries together referred as 'the Group') and its joint controlled entity and its subsidiary Companies for the quarter and half year ended September 30, 2019, along with notes (the 'Statement'), attached herewith being submitted by the Group pursuant to the requirements of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulations"), which has been initialed by us for identification purposes. Attention is drawn to the figures of jointly controlled entity for the quarter ended 30 September 2019 are the balancing figures between reviewed consolidated figures in respect of the six months period ended 30 September 2019 and the figures for the quarter ended 30 June 2019 which have been approved by the Company's Board of Directors, but have not been subjected to audit or review.
1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 (the Act), read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE)2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. 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.

We also performed procedures in accordance with the circular issued by the SEBIunder Regulation 33 "~y t.'E:-!-;~~.""". (8) of the Listing Regulations, as amended, to the extent applicable.

Plot No. 68, Okhla Industrial Area, Phase-III, New Delhi-110020 Tel: +91-11-46708888 E-mail: [email protected] www.sskmln.com

1. The Statement includes results of the following entities:
a. Subsidiaries
- 1 DCM Textiles Limited
- 2 DCM Data Systems Limited
- 3 DCM Finance & Leasing Limited
- 4 DCM Reality Investment & Consulting Limited
- 5 DCM Tools & Dies Limited
- 6 oeM Realty and Infrastructure Limited
- 7 DCM Engineering Products Education Society

b. Jointly controlled entity and its subsidiaries

1. Purearth Infrastructure Limited, jointly controlled entity
1. Kalptru Reality Private Limited, subsidiary of Purearth Infrastructure Ltd

5 5 KOTHARI MEHTA & COMPANY CHARTERED ACCOUNTANTS

1. Kamayani Facility Management Private Limited, subsidiary of Purearth Infrastructure Ltd
1. Vighanharta Estates Private Limited, subsidiary of Purearth Infrastructure Ltd
1. Based on our review conducted as per para 3 above and upon considerations of reports of other auditors read with para 6 below, nothing further has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the applicable Indian Accounting Standards i.e. 'Ind AS' prescribed under Section 133 of the Act, read with relevant Rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the Listing Regulation including the manner in which it is to be disclosed, or that it contains any material misstatement.

Material Uncertainty on Going Concern

We draw attention to Note - 4 of the Statement highlighting that due to below par performance of its Engineering Division the Parent is currently facing liquidity issues towards clearing of statutory dues, vendor payments and loans of the Engineering Division. The Parent's net worth is also substantially reduced, and the current liabilities exceed the current assets by Rs. 6,246 lakhs as at September 30, 2019.

All the above facts indicate material uncertainty as to the Parent's ability to continue as a going concern. The said note also indicates the Parent's future plans to mitigate these uncertainties with regard to its gOing concern.

Our conclusion is not modified in respect of this matter.

Other Matters:

----- -_. ----.- --------

We did not review the unaudited quarterly financial results of 6 subsidiaries, whose reviewed quarterly standalone financial results reflect total asset of Rs.48.00 lakh as at September 30, 2019; total revenue of Rs. 6.96 lakh and Rs. 14.20 lakh for the quarter and half year ended September 30, 2019, respectively; profit after tax of Rs. 0.50 lakh and Rs. 0.07 lakh for the quarter and half year ended

Page 2 of3

September 30, 2019 respectively and total comprehensive income of Rs.0.50 lakh and Rs.0.071akh for the quarter and half year ended September 30, 2019, respectively, and net cash inflow of Rs.4.361akh for the half year ended September 30, 2019, as considered in this statement, have been reviewed by other auditors. The Independent auditor's report on interim financial result of these subsidiaries have been furnished to us by the management and our conclusion on the statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.

S S KOTHARI MEHTA & COMPANY CHARTERED ACCOUNTANTS

1. We did not review the unaudited consolidated financial results of one JOintly controlled entity, wherein Group's, share of profit including other comprehensive loss of Rs. 215 lakhs and Rs. 337 lakhs for the quarter and half year ended September 30, 2019, respectively. An independent auditor's report on interim financial result of this joint venture has been furnished to us by the management and our conclusion on the statement, in so far as it relates to the amounts and disclosures in respect of this joint venture is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.
1. We did not review the unaudited financial results of 3 subsidiaries of the jointly controlled entity, wherein Group's share of loss including other comprehensive income of Rs. 10 lakh and Rs. 10 lakhs for the quarter and half year ended September 30, 2019 as considered in this Statement. Our report, to the extent it concerns these entities on the unaudited quarterly consolidated financial results is based solely on the management certified results. These 3 subsidiaries of the jointly controlled entity are not material to the Group.

Our conclusion on the Statement is not modified in respect of above matters.

The review of the unaudited quarterly and year to date consolidated financial results for the period April 1, 2018 to September 30, 2018 and audit of the financial statements for the year ended March 31, 2019 & review of unaudited financial results for the quarter ended June 30, 2019 was carried out and reported by BSR & Co, LLP who have expressed their unmodified conclusion and modified opinion/conclusion vide their report dated November 13, 2018 and August 12, 2019 respectively. Our conclusion is not modified in respect of this matter.

For S. S. Kothari Mehta & Company Chartered Accountants Firm Registration NO~

SUNILWAHAL

Partner Membership No: 087294

Place: New Delhi Dated: November 14, 2019 UDIN : 19087294AAAAJF7760

Page 3 of3

DCM LIMITED Regd, Office: Vikrnnt Tcwee, 4 Rajendra Place, New Delhi· 110008 ClN: L74899DLl889PLCOoo004 E-mail: iavr.ton/@dcm.in Phonr: 0~1-25719967

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RZSULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2019

							RUDHll in Laes)
S. No.	Particulan		For .he quarter ended		For the halrye •• eeded		Forthey •• r ended
		September 30,2019	June 30,2019	September 30,2018	September 30, 2019	September 30, 2018	Marcb 31, 2019
		Unaudited (Rerer note 3)	Unaudited (Rerer aote 3)	Unaudited (Rerer note 3)	Uaaudited (Rerer note 3)	Uaaudited (Rerer aote 3)	Audited (Rerer note 3)
I	Revenue
(a)	Revenue from operations	7,135	8,928	8,470	16,063	20,098	43.255
(b)	Other income Total inrome	1.694 s,s29	821 9,749	171 8,641	2515 18,578	246 20,344	351 43,606

2	Expenses
(a) (b)	Cost of materials consume:l	2,418	2,663	3,301	5.081	7,841	16.540
(e)	Cost of rights in flats Changes in inventories of finished goods and work in progress	255 168	1.019	(375)	255 1.187	(820)	(1.575)
(d)	Employ •• benefits expense	2.241	2,355	2,359	4,596	4.937	10,558
(e)	Finance costs	347	316	323	663	665	1.312
(f) (g)	Depreciation and amortization expense	347	' 427	469	774	896 9,112	1,743
	Other expenses	2.504	4:124	4,136	6,628		19.389
	Total expenses	1,210	10,904	10,213	19,184	22,631	47,967
3	Profit! Oem) before tall and share of profit! (10•• ) of equity accounted investee	549	(1,155)	(1,572)	(606)	(2,287)	(4,361)
4	Share of Iou of equity accounted invntee	(225)	(122)	(82)	(347)	(95)	(227)
5	Profit! (Iou) before tax	324	(1,277)	(1,654)	(953)	(2,382)	(4,588)
6	Tax expense Current tax	156		93	156	168	80
	Total I•• : expense	156	-	93	156	168	80
7	Profit/loss ror the oeriod rrom continuinll ooeartions	J68	11,277	11,747	11,109	(2,550	(4,668
8	Profitl(loss) before tax for the period - discontinued operations			2,049		3,025	4,641
9	lncome tax relating to discontinued operations					-
to	ProfiU(loss) after tll: for the period - lIiscontinued operations		-	2,049	-	3,025	4,641
II	Profitl(loss) ror tbe period	168	(1,277)	302	(1,109)	475	(27)
12 (a)	Otber comprebeasive illcome Items that will not be reclassified to profit or loss Re-measurement (10sses )1 gain. of defined benefit obligations (net of tax)	(4)	(4)	8	(8)	20	(16)
(b)	Items that will be reclusified to profit or loss Exchange difference in translating financial statements of foreign operations (net of tax)	17	(I)	24	16	68	44
J3	To.al comp~hensi"e income for .he IVriod	181	11,282	334	I,IUI	563	I
14	Paid up equity share capital (Face value RI. 10/- each)	1,867	1,867	1.867	1.867	1,867	1.867
15	Other equity						15,796
J6	Earnings! (Iou) per equity Iba re (EPS) or Rs. 10/- •• ch
	(not annualised) Basic and diluted - from continuing operations	0.90	(6.84)	(9.36)	(5.94)	(13.66)	(25.00)
	Basic and diluted - from discontinued operations			10.97		16.20	24.85
	Basic and diluted	0.90	1684	.62	15.94	2.54	(0.15

...... ...,,_..•,

.' .'

STATEMENT OF UNAUDITED CONSOLIDATED ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2019

		(Rupees in Lacs
Particulars	As at	As at
	Sentember 30, 2019	March 31, 2019
	Unaudited (refer note 3)	Audited
ASSETS
Non-current assets
Property, plant and equipment	6,348	17,221
Capital work-in progress	7	86
Right to use assets	292	39
Intangible assets	43
Financial assets
(i) Investments	861	1,204
(ii) Loans	664	1,031
(iii) Other financial assets	100	141
Deferred tax assets (net)
Non-current tax assets (net)	531	631
Other non-current assets	1,473	1,934
Total non-current assets	10,319	22,287
Current assets
Inventories	1,664	21,154
Financial assets
(i) Trade receivables	1,985	9,823
(ii) Cash and cash equivalents	1,348	1,409
(iii) Bank balances other than (ii) above	339	254
(iv) Loans	42	48
(v) Other financial assets	254	192
Current tax assets (net)	10	17
Other current assets	240	1,709
Assets held for sale Total current assets	212 6,094	213 34,819
Total assets	16,413	57,106

EQUITY AND LIABILITIES
Equity
Equity share capital	1,868	1,867
Other equity	(233)	15,797
Total equity	1,635	17,664
Liabilities
Non-current liabilities
Financial liabilities
(i) Borrowings	323	5,994
(ii) Other financial liabilities	829	654
Provisions	1,286	1,933
Total non- current liabilities	2,438	8,581
Current liabilities
Financial liabilities
(i) Borrowings	2,973	15,237
(ii) Trade payables
Total outstanding dues of micro enterprises and small enterprises	1,842	2,085
Total outstanding dues of creditors other than micro enterprises and small
enterprises	4,195	5,926
(iii) Other financial liabilities	2,282	5,744
Other current liabilities	537	1,353
Provisions	230	391
Current tax liabiliti~-ttlO!tf"	281	125
Total current,Ji~';_. ;.;.,	12,340	30,861
Total equity(an:dliabilitics \'~" \	16,413	57,106

DCMLimited Consolidated Cash flow statement for the year ended September 30,2019

		Amount (Rs. Lacs)
Particulars	For the half year ended September 30, 2019	For the half year ended September 30, 2018
	Unaudited (refer note 3)	Unaudited
Cash flow from operating activities
Profit before taxation - continuing operations	(953)	(2,382)
Profit before taxation - discontinued operations		3,025
Adjustments for:
Depreciation and amortisation expense	774	1,762
(Profit)! loss on sale of property, plant and equipment (net)	(2,345)	(2)
Liabilities no longer required written back		136
Unrealised foreign exchange difference	16	86
Interest income	(51)	(158)
Unwinding of discount on security deposits	(I)
Finance cost Finance lease income	663 (6)	1,372 (9)
Allowance/ (reversal) of expected credit loss	(5)	(41)
Loss on finance lease cancellation		II
Remeasurement of revenue to finance income and lease receivable	44	67
Share of loss in jointly controlled entity	347	95
Operating cash flow before working capital changes	(1,517)	3,962
Changes in assets and liabilities
(Increase) in inventories	2,546	10,996
(Increase)!decrease in trade receivables	1,271	(975)
(Increase )/decrease in loans	15	(92)
(Increase)! decrease in other financial assets	(91)	429
(Increase) in other assets	316	795
Increase! (decrease) in trade payable	(903)	(2,322)
(decrease) in provisions	(23)	(12)
Increase in financial liabilities	1,148 (819)	260 168
Increasel( decrease) in other liabilities
Cash generated from operations	1,943	13,209
Income-taxes (paid)! refund	107	229 13,438
Net cash generated/rom operating activities (A)	2,050
Cash flow from investing activities
Purchase of property, plant and equipment	(1\5)	(355)
Net proceeds of sale of rights in fiats
Purchase of intangible assets Net proceeds of property, plant and equipment	(13) 1,443	(2) 9
Interest received	26	134
Deposits (made)! matured not considered as cash and cash equivalents	(\06)	60
Net cash generated from/ (used) in investing activities (B)	1,235	(154)
Cash flow from financing activities

Repayment of borrowings Net Proceeds from borrowings	(467)	(1,386) 167
Changes in working capital borrowings	(587)	(10,959)
Payment towards lease liability	(40)
Interest paid	(638)	(1,386)
Net cash (used) in financing activities (C)	(1,732)	(13,564)
Net cash flows (increasel(decrease») during the year (A+B+C)	1,553	(280)
Impact of exchange rate change on cash and cash equivalent
Cash and cash equivalents at the beginning of the year	872	872
Cash and cash equivalents transferred on demerger of DCM Nouvelle Limited	(1,012)
Cash and cash equivalents at the end of the year	1,413	592
Components of cash and cash equivalents
Cash on hand	26	\3
Balances with scheduled banks: /-::7;-.: .',	1,289	287
- Current accounts :?>:::<: c'.>, - Deposit accounts /	98	292
"\"S:\ Cash and cash equivalents at th!_~fof the year	1,413	592
E ('oj ,-;; \ iJ; '\' NE,r,J DELHI \ -< " 1,* ' ~"g '\J\, -~~/

'<:~:}0:0:E::/

DCM LIMITED

Notes:

1. Consolidated segment wise infor •• tio. for the quarter and half year ended September 30. 2019

							(Rupees in Lacs)
S. No.	Particulars		For the quarter ended			For the half year ended	For the year ended
		September 30, 2019	June 30, 2019	September 30, 2018	September 30, 2019	September 30, 2018	March 31, 2019
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited

1	Segment revenue a) IT Services	1,184	1,232	1,032	2,416	2,175	4,379
	b) Real Estate	851			851
	c) Grey Iron Casting	5,100	7,696	7,438	12,796	17,923	38,876
	d) Others	$\blacksquare$		$\overline{\phantom{a}}$	÷.
	Total	7,135	8,928	8,470	16,063	20,098	43,255
	Less : Inter segment revenues
	Net revenue from operations	7,135	8,928	8,470	16,063	20,098	43,255

$\mathbf{z}$	Segment revenue - discontinued operations
	a) Textile *	$\alpha$	$\ddot{\phantom{0}}$	16,866		33,016	66,749

	Net revenue from operations	7,135	8,928	25,336	16,063	53,114	110,004
$\mathbf{3}$	Segment results (Profit/(loss) before tax and interest
	from ordinary activities)
	a) IT Services	90	49	34	139	82	148
	b) Real Estate c) Grey Iron Casting	595 (1, 330)	(1, 109)	(1,047)	595 (2, 439)	(1,206)	(1, 841)
	d) Others	(7)	(7)	(7)	(14)	(14)	(30)

	Total	(652)	(1,067)	(1,020)	(1,719)	(1, 138)	(1, 723)
	Less : I) Finance costs : II) Un-allocable expenditure net of	(347)	(316)	(323)	(663)	(665)	(1, 312)
	un-allocable income/(expenditure)	1,548	228	(229)	1,776	(484)	(1, 326)


	Share of loss of equity accounted investee	(225)	(122)	(82)	(347)	(95)	(227)
	Profit/(loss) before tax	324	(1, 277)	(1,654)	(953)	(2, 382)	(4, 588)
4	Profit before tax from discontinued operations
	a) Textile *	٠	$\overline{a}$	2,049		3,025	4,641

	Profit/(loss) before tax	324	(1, 277)	395	(953)	643	53
5	Segment assets
	a) Textile *			27,225		27,225	35,758
	b) IT Services	2,073 25	1,670 25	2,304 25	2,073 25	2,304 25	2,092 25
	c) Real Estate d) Grey Iron Casting	9,623	13,245	14,955	9,623	14,955	14,256
	e) Others	48	360	363	48	363	363

	Total segment assets Others un-allocated	11,769 4,644	15,300 4,964	44,872 4,608	11,769 4,644	44,872 4,608	52,494 4,612
	Total assets	16,413	20,264	49,480	16,413	49,480	57,106

6	Segment liabilities	$\ddot{\phantom{0}}$	$\qquad \qquad \blacksquare$	3,105	$\overline{\phantom{a}}$	3,105	3,226
	a) Textile * b) IT Services	970	874	454	970	454	495
	c) Real Estate	23	23	23	23	23	23
	d) Grey Iron Casting	8,514	9,720	9,329	8,514	9,329	9,592
	e) Others	5	6	5	5	5	6
	Total segment liabilities	9,512	10,623	12,916	9,512	12,916	13,342
	Others un-allocated (excluding borrowings)	978	2,056	1,591	978	1,591	1,159
	Total liabilities	10,490	12,679	14,507	10,490	14,507	14,501

• Refer Note 3

(Continued )

Notes:

1. This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), prescribed under Section 133 of the Companies Act, 2013, and other recognised accounting practices and policies to the extent applicable.
1. The National Company Law Tribunal (,'NCL T"), vide its order dated I May 2019, has approved the Scheme of Arrangement ('the Scheme') between DCM Limited and DCM Nouvelle Limited, for the demerger of the Textile Division of DCM Limited, on a going concern basis with effect from 1 April 2019 (i.e. the appointed date). Consequently, the assets and liabilities aggregating Rs. 35,758 lacs and Rs. 20,833 lacs respectively, of the Textile Division of DCM Limited have been transferred with effect from the aforesaid appointed date to DCM Nouvelle Limited at their carrying values, determined in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (!ND AS) prescribed under Section 133 of the Companies Act, 2013 and other accounting principles generally accepted in India and the net assets aggregating Rs. 14,925 lacs is debited to 'Other Equity'. Pursuant to the aforesaid scheme, the entire share capital held by DCM Limited as on effective date (01 April 2019) in DCM Nouvelle Limited has been cancelled.

Consequently, the financial results for the quarter and half year ended September 30, 2019 exclude the Textile Division and hence, are not comparable with the previous periods.

S. No.	Particulars	!	Quarter Ended I		Half year	ended	Year Ended
		September 30,2019	June 30, 2019	September 30,2018	September 30,2019	September 30,2018	March 31, 2019
1	Total Income	8,829	9,749	8,641	18,578	20,344	43,606
2	Total Expenses	8,280	10,904	10,213	19,184	22,631	47,967
3	(Loss) before tax	324	(1,277)	(1,654)	(953)	(2,382)	(4,588)
4	(Loss) after tax	168	(1,277)	(1,747)	(1,109)	(2,550)	(4,668)
:)	Total comprehensive income	181	(1,282)	(1,715)	(1,101)	(2,462)	(4,640)
6	Earnings per share (Rs.) (not annualized)	0.90	(6.84)	(9.36)	(5.94)	(13.66)	(25.00)

Following is the performa information for the Group (excluding Textile Division) to indicate comparison with the previous periods:

Due to the poor performance of its Engineering Division the Company is currently facing liquidity issues towards clearing of statutory dues, vendor payments and loans of the Engineering Division. The Company's net worth is substantially reduced and the current liabilities exceed the current assets by Rs. 6,2461akh as at September 30,2019.

During the current quarter, the Company has transferred its IT Division to one of its wholly owned subsidiary.

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

1. Effective 01 April 2019, the Group has adopted IND AS 116 "Leases" using modified retrospective approach. This has resulted in recognizing right of use assets and lease liability as on I April 2019. The adoption of the Standard did not have any material impact on the financial results of the Group.
1. The unaudited consolidated financial results for the quarter and half year ended September 30,2019 and September 30, 2018, for the quarter ended June 30, 2019 and audited consolidated financial results for the quarter and year ended March 31, 2019 have been prepared by the Group in accordance with the requirements of Ind AS 110 "Consolidated Financial Statements", Ind AS 111 "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 unaudited financial results of the Parent Company, its subsidiaries, its trust and jointly controlled entity and subsidiaries of the jointly controlled entity.

The unaudited financial results of 7 subsidiaries namely DCM Infotech Limited (Formerly known as DCM Realty Investment & Consulting Limited), DCM Data Systems Limited, DCM Finance & Leasing Limited, DCM Textiles Limited, DCM Engineering Limited (Formerly known as DCM Tools & Dies Limited), DCM Realty and Infrastructure Limited and trust (treated as subsidiary for consolidation purpose) namely DCM Engineering Products Educational society have been consolidated and 6 are reviewed by their respective auditors and the same have been relied upon by the statutory auditors of the Parent Company.

The unaudited standalone financial results are available on the Company's website www.dcm.in. The particulars in respect of standalone results are as under:

						(Rs. in lacs
Particulars	September 30,2019	June 30, 2019	September 30,2018	September 30,2019	September 30,2018	March 31, 2019
Revenue from operations	5,100	7,696	7,438	12,796	17,923	38,876
Profitl(loss) for the period from continuing; opeartions	(166)	(1,192)	(1,718)	(1,358)	(2,568)	(4,618)
Profitl(loss) after tax for the period - discontinued
operations	107	37	2,100	144	3,137	4,818
Net profitl(loss)	(59)	(1,155)	382	(1,214)	569	200
Total comprehensive income	(61)	(1,160)	414	(1,221)	657	228
Profit before interest, depreciation and tax (PBIDT)	601	(442)	1,168	159	2,117	3,226
Cash profit! (loss)	265	(747)	845	(482)	1,453	1,918

The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 14, 2019. The limited review 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 ofwww.nseindia.com and www.bseindia.com.

For and on behalf07 Board

9¹ JL/

Dr. Vinay ~rat Ram Chairman DIN: 00052826

Place: New Delhi Date: November 14,2019

Annexure -II

Information as per SEBICircular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 read with Regulation 30 - Para A of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015,as amended from time to time

Sr. No.	Particulars	Details
1	Reason for change viz.	Appointment
	appointment,
	resignation, removal death or otherwise
2	Date of appointment/	Appointed for a period of 5 consecutive years
	cessation (as	w.e.f. November 14, 2019
	applicable) and term of
	appointment
3	Brief profile	Dr. Kavita A Sharma holds Ph.D. degree in English from the University of Delhi. She is also LLM from the University of British Columbia, Canada.
		She started teaching in 1971 in Delhi University's Hindu College and became its Principal in 1998 and served there till 2008 thereafter she took up another challenging assignment as Director of India International Centre, New Delhi.
		She has published a number of books including Internationalisation of Education, Sixty Years of University Grants Commission, Hindu College, Delhi- A People's Movement and The Windmills of the Mind etc.
		She has widely travelled around the world and also been an Honorary Visiting Lecturer at Tokyo's Women's Christian College and University of Indonesia. She is associated with many professional organisations including English Association, Indian Association of Canadian Studies, Indian Law Institute and Indian History Congress. Through her teaching, publications and association with many professional institutions she is an active contributor in the field of higher education.
		She was conferred the Indira Gandhi the Sadbhavana Award National by

		Integration and Economic Council in 2005.She has been the Founder President of Parentis Forum for Meaningful Education.
4	Disclosure of	N.A.
	between relationship
	(in Directors case of
	appointment of a
	director)

AI assistant

DCM Ltd. Interim / Quarterly Report 2019

61500_rns_2019-11-14_1d2d3b81-a2d7-4367-be69-0bf0c82de2c9.pdf

Scrip Code: S02820jDCM

Subject: Outcome of Board Meeting held on November 14, 2019

5. Material Uncertainty on Going Concern