DCM Ltd. — Regulatory Filings 2024

Feb 13, 2024

February 13, 2024

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

National Stock Exchange of India Ltd. Exchange Plaza, Plot no. Cll, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400051 Scrip Code: DCM

ISIN: INE498AOl0l8

Subject: Unaudited Financial Results (Standalone and Consolidated) of Company for 3rd quarter and nine months ended December 31, 2023 pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

Dear Sirs,

This is to inform you that the Board of Directors of the Company at its meeting held on February 13, 2024 (i.e. today) have inter-alia approved and taken on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the 3rd quarter and nine months ended December 31, 202:l Accordingly pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, following documents are enclosed herewith :-

• i. Limited Review Reports of Statutory Auditors on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the 3rd quarter and nine months ended December 31, 2023;
• ii. Unaudited Financial Results (Standalone & Consolidated) for the 3rd quarter and nine months ended December 31,2023.

Time of Commencement of Board Meeting - Time of conclusion of Board Meeting - 4:30 P.M. 6.30 P.M.

You are requested to take the above information on record.

Registered office: Unit Nos. 2050 to 2052, Plaza - II, 2nd Floor, Central Square, 20, Manohar Lal Khurana Marg, Bara Hindu Rao, Delhi -110006. Phone: {all} 41539170 CIN: L74899DL1889PLCaaaaa4, Website: www.dcm.in, Emailld:investors@dcm.in

Independent Auditor's Review Report on 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.

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 standalone financial results of DCM Limited (the "Company") for the quarter ended December 31, 2023 and the year to date results for the period from April 01, 2023 to December 31, 2023, along with notes (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").
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company'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 as amended (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 Engagement (SRE) 2410, 'Review of Interim Financial Information performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists primarily of making inquiries of company personnel 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.
• 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 all material respects in accordance with 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 Listing Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

5. Emphasis of Matter

-

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, the 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 December 31, 2023 of the workmen as on December 31, 2023 aggregating to Rs.65841akhs (current quarter Rs.210 lakhs). Our conclusion is not modified in respect to this matter.

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Plot No. 68, Okhla industrial Area, Phase-Ill. New Delhi-110020 Tel: +91-11-4670 8888 E-mail: delhi@sskmin.com www.sskmin.com

5 5 KOTHARI MEHTA & COMPANY

CHARTERED ACCOUNTANTS

6. Material Uncertainty on Going Concern

We draw attention to Note 4 and 5 of the Statement highlighting that;

The Company has entered into a Joint Development Agreement (JDAl 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 aswell as receipt of regulatory approvals. The JDAhas become effective pursuant to compliance of certain terms and conditions in terms of said JDA.

The Director General, Town and Country Planning, Haryana has suspended the license 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 the 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.5,000 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.5,000 lakh received under JDAexceed the current assets by Rs 4,090 lakh as at December 31, 2023. The management of the Company holds the view that the Company has merits in 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 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 statements of the Company have been prepared on a going concern basis.

Our conclusion is not modified in respect of this matter.

Place: New Delhi Dated: February 13, ²⁰²⁴ ..-r's,.- L ^U u::}1 ^J UDIN : -:::4 S D D 66 11],K E J-- -(I , '1

For S S Kothari Mehta & Co Chartered A~~~~nts

FI,m :r2::~)"N ^P --;':"T GOEl

Partner Membership No.: 500607

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Plot No. 68, Okhla industrial Area, Phase-l!l. New Delhi-110020 Tel: +91-11-4670 8888 E-mail: delhi@sskmin.com

-=.~.~-._-

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www.sskmin.com

DCMLlMITED Regd. OffICe: 2050-2052, 2nd Floor, Plaza-II, Central Square, 20, Manobar Lal Khuran8 Marg, B8ra Hindu Rao, Delbi - 110006 E-mail: invelltors@dcm.in Pbone: 011-41539170 CIN: L74899DLI889PLCoooo04

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2023

							(Runees in lakb)
			For the quarter ended			Nine months ended
		December 31,	September		December 31,		ended March 31,
S.No.	Particulars	2023	30 2023	Decem ber 31, 2022	2023	De.:ember 31, 2022	2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Revenue
	(a) Revenue from operations	120	74	6	333	6	6
	(b) Other income	12	4	43	112	997	1,088
	Total income	132	78	49	445	1,003	1,094
2	Expenses
	(a) Cost of materials consumed	3	65	-	139	-	-
	(b) Changes in inventories of finished goods and work in progress	-	-	-	22	-	-
	(c) Employee benefits expense	86	88	135	265	314	409
	(d) Finance costs	50	50	43	149	159	211
	(e) Depreciation and amortization expense	93	95	149	300	476	631
	(f) Other exoenses	80	57	109	192	282	459
	Total expenses	312	355	436	1067	1,231	1,710
3	Profit/cLoss) before tax	(180)	(277)	(387)	(622)	(228)	(616)
4	Tax expense
	Current tax	-	-	-	-	-	-
	Tax adjustment relating to prior periods	-	-	-	-	-	-
	Deferred tax exoense	-	-	-	-	-	-
	Total tax expense	-	-	-	-	-	-
5	Profit/CLoss) for the oeriod/ year	(180)	(277	(387	(622)	(228	(616
6	Other comprebensive income Items that will not be reclassified to profit or loss
	Re-measurement (Iossesj/gain of defined benefit obligation (net of						-
	tax)	16	16	19	48	57	64
7	Total comnrehensive Income!(Expense) for tbe period! year	(164)	(261	(368	(574)	(171	(552
8	Paid up equity sbare capital (Face value Rs. 10 per share)	1,868	1,868	1,868	1,868	1,868	1,868
9	Other equity						(1,078)
10	Earnings! (loss) per equity sbare (EPS) of Rs. 10 eacb
	(not annualised)
	Basic and Diluted	(0.97\	(1.48	(2.07)	(3.33)	(122	(3.30)

DCMLlMITED

Note:

-

I. Standalone segment wise information for the quarter and nine months ended December 31, 2023

							Runees in Iakh) ~"orthe year
		For the ouarter ended			Nine month ended	ended
S.No.	Particulars	December 31,	September	December 31,	Decem ber 31,	December 31,	March 31,
		2023	30,2023	2022	2023	2022	2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Segment revenue
	(a) Real Estate (b) Grey Iron Casting	- 120	- 74	- 6	- 333	- 6	- 6
	Total income	120	74	6	333	6	6
	Less : Inter sesment revenues	-	-	-	-	-	-
	Net revenue from unerations	120	74	6	333	6	6
	Segment results (Profit/(Loss) before interest and tax from
2	ordinary activities)
	(a) Real Estate	-	-	-	-	41	41
	(b) Grey Iron Casting	(77)	(160)	(203)	(375)	113	(135)
	Total	(77)	(160)	(203)	(375)	154	(94)
	Less: I) Finance costs	50	50	43	149	159	211
	: II) Un-allocable expenditure net of un-allocable income	53	67	141	98	223	311
	Profit/CLoss) before tax	(180	1277	1387	(622	(228	(616
3	Segment assets
	a) Real Estate	176	176	301	176	301	299
	b) Grey Iron Casting	3,944	4,105	4,737	3,944	4,737	4,511
	Total segment assets	4,120	4,281	5,038	4,120	5,038	4,810
	Others un-allocated	5,035	5,093	5,173	5,035	5,173	5,080
	Total assets	9,155	9,374	10,211	9,155	10,211	9,890
4	Segment liabilities a) Real Estate	7,422	7,377	7,038	7,422	7,038	7,288
	b) Grey Iron Casting	822	921	1,329	822	1,329	1,140
	Total segment liabilities	8,244	8,298	8,367	8,244	8,367	8,428
	Others un-allocated (excluding borrowings)	696	695	674	696	674	672
	Total liabilities	8,940	8,993	9,041	8,940	9,041	9,100

• 1. This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015, as amended (Ind 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 the labour 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 December 31, 2023 of the workmen aggregating to Rs. 6584 lakh out of which Rs. 210 lakh pertain to quarter ended on December 31, 2023.

1. The Company is in process of developing its 68.35 acres ofland 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 August 11, 2022 with a party which is subject to fulfilment of certain terms and conditions by the said party as well as receipt of regulatory approvals. In this connection, the 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-2016 (referred as Project).

The Director General, Town and Country Planning, Haryana has suspended the said licensee no.179 of 2022 during the month of April 2023 taking a note that an enquiry has been initiated against the Company by Deputy Commissioner in respect of the Company's land at Hisar.

Under the said suspension 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 order is revoked. The Company is taking appropriate action in the matter for the revocation of said suspension order.

As per the legal advice received by the Company, there are merits in the said matter of revocation of suspension of license. The management holds the view that the said suspension order of license no.179 of 2022 is likely to be revoked soon, however, the same remained pending as on date of approval of these unaudited results.

1. Pending revocation of suspension of license no. 179 of 2022 by Director General, Town and Country Planning, Haryana (refer note 4 above), the advance of Rs. 5,000 lakh received under JDA has been shown under the current liabilities. Pursuant to above, the current liabilities of the Company including the said advance of Rs. 5,000 lakh under lOA, exceed the current assets by Rs. 4,090 lakh as at December 31, 2023.

The management believes that with the revocation of said suspension order of license no.179 of 2022 and infusion of liquidity by focusing Imanaging 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.

• 1. 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 against the taxable profits in future years, deferred tax asset have not been considered in the financial results.
• 1. The Company holds 1,78,53,605 equity shares in Purearth Infrastructure Limited (PIL), a Joint Venture Company which constitute 16.56% holding of paid up equity share capital of PIL.

The Company has received a notice from PIL of an extra-ordinary general meeting (EGM) scheduled to be held on 20th February, 2024, to seek approval oftheir shareholders in the said EGM for the buyback of upto 44,19,800 equity shares equivalent to 4.10% of shareholding ofPIL at Rs. 59/- per equity share.

The Company will be eligible to tender its shareholding in PIL to the extent of 7,31,997 equity shares under the said buyback Scheme ofPIL. The Company will receive not exceeding Rs,435 lakh towards the consideration for tendering the said 7,3 1,997 shares of PIL.

Since PIL, a Joint Venture Company, is a related party, in terms of requirements under the Companies Act and SEBI (LODR), a postal ballot notice dated 7th February 2024 has been issued by the Company to its shareholders for seeking their approval for tendering its equity shares in PIL to the extent of 7,31,997 equity shares under the said buy back scheme of PIL .

• 1. The figures for the previous periods have been regrouped / rearranged wherever necessary.
• 1. Amount mentioned as '0' in the financial results is below rounding off threshold adopted by the Company. Adding the individual figures may therefore not always result in exact total given.
• 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on February 13,2024. 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 of www.nseindia.com and www.bseindia.com.

For and on behalf of the Board of Directors

----- 4~·--~ I--Z·

Jitendra Tuli Managing Director

Place: Delhi Date: February 13, 2023 DIN: 00272930

Independent Auditor's Review Report on the Quarterly and year to date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI(listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

S.S KOTHARI MEHTA -----.-.~..---& COM PAN Y---------_.

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 "Holding Company" or "Company"), its subsidiaries (the Holding and its Subsidiaries together referred as "the Group") and its joint venture (including its subsidiary companies together referred to as "Jointly controlled entities") for the quarter ended December 31, 2023 and the year to date results for the period from April 01, 2023 to December 31, 2023, along with notes (the "Statement"), attached herewith being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the "Listing Regulations").
• 1. This Statement, which is the responsibility ofthe Holding Company's Management and approved by the Holding Company'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 as amended (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. This standard required that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. - We also performed procedures in accordance with the circular no. ClR/CFD/CMDI/44/2019 dated

March 29, 2019, issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

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Plot No. 68, Okhla industrial Area, Phase-llt. New Delhi-11 0020 Tel: +91-11-4670 8888 E-mail: delhi@sskmin.com www.sskmin.com

S.S KOTHARI MEHTA ----------.& COM PAN Y·,,······_-····· CHARTERED ACCOUNTANTS

4. The Statement includes results of the following entities:

a. Subsidiaries

• 1 DCM Landmark Estates Limited (formerly known as DCM Textiles Limited)
• 2 DCM Infinity Realtors Limited (formerly known as DCM Data Systems Limited)
• 3 DCM Infotech Limited (formerly known as DCM Reality Investment & Consulting Limited)
• 4 DCM Engineering Limited (formerly known as DCM Tools and Dies Limited)
• 5 DCM Realty and Infrastructure Limited
• 6 DCM Engineering Products Educational Society

b. Jointly Venture and its subsidiaries

• 1. Purearth Infrastructure Limited, Joint Venture
• 1. Kalptru Reality Private Limited, subsidiary of Purearth Infrastructure Limited
• 1. Kamayani Facility Management Private Limited, subsidiary of Purearth Infrastructure Limited
• 1. Vighanharta Estates Private Limited, subsidiary of Purearth Infrastructure Limited
• 1. Based on our review conducted and procedure performed as per para 3 above and upon considerations of reports of other auditors read with para 8 below and management certified financial information, 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 principles generally accepted in India, 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.

6. Emphasis of Matter

We draw attention to Note 3 to the accompanying statements, wherein during the earlier year in view of continued situation of industrial unrest, the Holding Company has declared lockout at its engineering business undertaking. On the basis of legal advice, the Management of the 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 December 31,2023 ofthe workmen as on December 31, 2023, aggregating to Rs. 6,584 lakhs (for the current quarter Rs. 210 lakhs). Our conclusion is not modified in respect of this matter.

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...__._---_._---

==:« COM PAN ^Y -.-----. CHARTERED ACCOUNTANTS

S 5 KOTHARI MEHTA

7. Material Uncertainty on Going Concern

We draw attention to Note 4 and 5 of the Statement highlighting that;

The Holding Company has entered into a Joint Development Agreement (JDA)with a party for the 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.

The Director General, Town and Country Planning, Haryana has suspended the license for development ofthe said land taking a note that an enquiry has been initiated against the Holding Company in respect of the Holding Company's land at Hisar. As per the 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 Holding 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. 5,000 lakh received by the Holding Company under the said JDA, has been shown under the current liabilities. Pursuant to above, the current liabilities of the Group including the said advance of Rs. 5,000 lakh received under JDA exceed the current assets by Rs965 lakh as at December 31, 2023. The management of the Holding Company holds the view that the Group has merits in case and is confident to get favorable 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 statements of the Company have been prepared on a going concern basis.

Our conclusion is not modified in respect of this matter.

8. Other Matters

a) We did not review the unaudited quarterly financial results of 4 subsidiaries whose unaudited financial results reflect total revenue of Rs.Nil and Rs.Nil, total loss after tax of Rs. ° lakh and Rs. ° lakh and total Comprehensive loss of Rs. ° lakh and Rs. ° lakh for the quarter ended December 31, 2023, and the year-to-date results for the period April 01, 2023, to December 31, 2023, respectively as considered in this Statement. An independent auditor's review report on interim financial result of these subsidiaries 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 these subsidiaries is based solely on the report of such auditors and procedures performed by us as stated in paragraph 3 above.

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Plot No. 68, Okhla industrial Area, Phase-Ill, New Delhi-110020 Tel: +91-11-4670 8888_E-mail: delhi@sskmin.com www.sskmin.com

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

• b) We did not review the unaudited financial results of 1 subsidiary, whose unaudited financial results total revenue of Rs. Nil and Rs. Nil, total loss after tax of Rs.Olakh and Rs.0 lakh and total Comprehensive loss of Rs. 0 lakh and Rs. 0 lakh for the quarter ended December 31, 2023, and the year-to-date results for the period April 01, 2023, to December 31, 2023, respectively as considered in this Statement. Our report, to the extent it concerns this subsidiary on the unaudited quarterly consolidated financial results is based solely on the management certified results. This subsidiary is not considered material to the Group.
• c) We did not review the unaudited consolidated financial results of one Joint venture entity and its three subsidiaries, wherein Group's, share of profit including other comprehensive income of Rs. 1 lakhs and Rs. 11 lakhs for the quarter ended December 31, 2023, and the year-to-date result for the period April 01, 2023, to December 31, 2023, respectively. An independent auditor's report on interim consolidated financial result ofthis 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.

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

For S S Kothari Mehta & Co. Chartered Accountants Fir~egis:ti~::r6N

r-vvu --

AMITGOEL Partner Membership No: 500607

Place: New Delhi Dated: 1"2, \ 0 '21J{l'2-~ UDIN: 2l!Soc be:} B~f I~HII:kO

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DC MLIMITED

Regd. Office: 2050-2052, 2nd Floor, Plaza-II, Central Square, 20, Manobar Lal Khurana Marg, Bara Hindu Rao, Delhi -110006 E-mail: investors@dcm.in Pbone: 011-41539170

CIN: L74899DL1889PLC000004

STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31,2023

	IRunees in lakbl
			For tbe quarter	ended	Nine montbs ended	For tbe year
S.No.	Particulars	December 31,	September	December 31,	December 31,	December 31,	ended Marcb 31,
		2023 Unaudited	30 2023 Unaudited	2022 Unaudited	2023 Unaudited	2022 Unaudited	2023 Audited
I	Revenue
	(a) Revenue from operations	1,868	1,782	1,679	5,437	5,238	6,945
	(b) Other income	43	77	76	164	1,076	1,176
	Total income	1,911	1,859	1,755	5,601	6,314	8,121
2	Expenses
	(a) Cost of materials consumed	3	65	-	139	-	-
	(b) Changes in inventories of finished goods and work in progress	-	-	-	22	-	-
	(c) Employee benefits expense	972	1,013	1,000	2,950	3,024	4,030
	(d) Finance costs	51	51	44	151	164	219
	(e) Depreciation and amortization expense	112	113	167	353	528	699
	(f) Other expenses	721	628	643	1,953	2,058	2,801
	Total expenses	1,859	1,870	1,854	5,568	5,774	7,749
	Profit/CLoss) before tax and sbare of Profit/CLoss) of equity accounted
3	investee	52	(11)	(99)	33	540	372
4	Share of Profit/CLoss) of equity accounted investee	I	4	25	11	108	117
5	Profit/CLoss) before tax	53	(7)	(74)	44	648	489
6	Tax expense
	Current tax	60	63	72	176	195	256
	Tax adjustment relating to prior periods	0	-	-	0	-	-
	Deferred tax expense	(I	(1	(2)	3	(2	-
	Total tax expense	59	62	70	179	193	256
7	Profit/( Loss) for the ouarter/ vear	(6	(69	1144	(135	455	233
8	Other comprehensive income
a	Items that will not be reclassified to profit or loss Re-measurement(losses)/ gains of defined benefit obligation (net of tax)	16	16	20	48	59	70
c	Share in other comprehensive income /(expenses) of joint venture (net of tax)	(0)	-	I	(0)	I	(I)
9	Total comprebensive IncomeHExnense) for tbe ouarter / vear	10	153	(123	(87	515	302
10	Paid up equity share capital (Face value Rs, 10 per sbare)	1,868	1,868	1,868	1,868	1,868	1,868
II	Otber equity						(372)
12	Earnings/ (loss) per equity share (EPS) of Rs. 10 each
	(not annualised)
	Basic and Diluted	(0.03)	(0.37	{0.77)	(0.73	2.44	1.25

DCMLIMITED

Note:

I. Consolidated segment wise information for the quarter and nine montbs ended December 31, 2023

	(Rupees in lakb \
		For the quarter ended Nine montbs ended				For tbe year ended
S.No.	Particulars	Decem ber 31, 2023	September 30,2023	Decem ber 31, 2022	December 31, 2023	December 31, 2022	Marcb 31, 2023
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Segment revenue
	(a) IT Service	1,748	1,708	1,673	5,104	5,232	6,939
	(b) Real Estate	-	-	-	-	-	-
	(c) Grey Iron Casting	120	74	6	333	6	6
	(d) Other income	-	-	-	-	-	-
	Total income	1,868	1,782	1,679	5,437	5,238	6,945
	Less : Inter see:ment revenues		-		-
	Net revenue from operations	1,868	1,782	1,679	5,437	- 5,238	- 6945
	Segment results (profit/(Loss) before interest and tax from
2	ordinary activities)
	(a) IT Service	203	194	257	605	695	909
	(b) Real Estate	-	-	-	-	41	41
	(e) Grey Iron Casting	(77)	(160)	(203)	(375)	113	(135)
	(d) others	-	-	(I)	-	(I)	(I)
	Total	126	34	53	230	848	814
	Less: I) Finance costs	51	51	44	151	164	219
	: II) Un-allocable expenditure net of un-allocable income	23	(6)	108	46	144	223
	Sbare of Profit/(Ioss) of equity accounted investee	I	4	25	II	108	117
	Profit/CLoss1 before tax	53	(7)	(74	44	648	489
3	Segment assets (a) IT Service	3,911	3,814	3,400	3,911	3,400	3,533
	(b) Real Estate	170	170	295	170	295	293
	(c) Grey Iron Casting	3,944	4,105	4,737	3,944	4,737	4,511
	(d) others	19	19	19	19	19	19
	Total segment assets	8,044	8,108	8,451	8,044	8,451	8,356
	Others un-allocated	3,007	3,063	3,128	3,007	3,128	3,042
	Total assets	11,051	11,171	11,579	11,051	11,579	11,398
4	Segment liabilities
	(a) IT Service	701	778	829	701	829	799
	(b) Real Estate	7,422	7,377	7,038.	7,422	7,038	7,288
	(c) Grey Iron Casting	822	921	1,329	822	1,329	1,140
	(d) others	10	10	10	10	10	10
						9,206
	Total segment liabilities Others un-allocated (excluding borrowings)	8,955 689	9,086 687	9,206 666	8,955 689	666	9,237 665
	Total liabilities	9,644	9,773	987l	9,644	9,872	9,902

• 1. This Statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015, as amended (Ind 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 of lockout 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 of the Holding Company is of the view that the present lockout is legal andjustified. Therefore, the Holding Company has not made any provision for wages pertaining to the lockout period October 22, 2019 to December 31, 2023 of the workmen aggregating to Rs. 6584 lakh out of which Rs. 210 lakh pertain to quarter ended on December 31,2023.

1. The Holding Company is in process for 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 Holding Company has signed a joint development agreement in this regard on August 11,2022 with a party which is subject to fulfilment 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 of2022 injoint 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).

The Director General, Town and Country Planning, Haryana has suspended the said licensee no.179 of 2022 during the month of April 2023 taking a note that an enquiry has been initiated against the Holding Company by Deputy Commissioner in respect of the Holding Company's land at Hisar.

Under the said suspension 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 Holding Company is taking appropriate action in the matter for the revocation of said suspension order.

As per the legal advice received by the Holding Company, there are merits in the said matter of revocation of suspension of license. The Holding Company management holds the view that the said suspension order of license no.179 of 2022 is likely to be revoked soon, however, the same remained pending as on date of approval of these unaudited results.

1. Pending revocation of suspension of license no.179 of 2022 by Director General, Town and Country Planning, Haryana, (refer note 4 above), the advance of Rs. 5,000 lakh received under lOA in Holding Company has been shown under the current liabilities. Pursuant to above, the current liabilities of the Group including the said advance of Rs. 5,000 lakh under lOA, exceed the current assets by Rs. 965 lakh as at December 31,2023.

The Holding Company management believes 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 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 against the taxable profits in future years related to Holding Company, deferred tax asset of the Holding Company have not been considered in the financial results.
• 1. The Holding Company holds 1,78,53,605 equity shares in Purearth Infrastructure Limited (PIL), a Joint Venture Company which constitute 16.56% holding of paid up equity share capital of PIL.

The Holding Company has received a notice from PIL of an extra-ordinary general meeting (EGM) scheduled to be held on 20th February, 2024, to seek approval of their shareholders in the said EGM for the buy-back of upto 44,19,800 equity shares equivalent to 4.10% of shareholding ofPIL at Rs. 59/- per equity share.

The Holding Company will be eligible to tender its shareholding in PIL to the extent of 7,31,997 equity shares under the said buyback Scheme of PIL. The Holding Company will receive not exceeding Rs.435 lakh towards the consideration for tendering the said 7,31,997 shares ofPIL.

Since PIL, a Joint Venture Company, is a related party, in terms of requirements under the Companies Act and SEBI (LODR), a postal ballot notice dated 7th February 2024 has been issued by the Holding Company to its shareholders for seeking their approval for tendering its equity shares in PIL to the extent of 7,31,997 equity shares under the said buy back scheme of PIL .

1. The unaudited 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:

Particulars		Quarter ended			Nine months ended
	December 31,2023	September 30,2023	December 31,2022	December 31,2023	December 31,2022	March 31,2023
Revenue from	120	74	6	333	6	6
ProfiU(loss) before tax	(180)	(277)	(387)	(622)	(228)	(616)
ProfiU(loss) after tax	(180)	(277)	(387)	(622)	(228)	(616)
Total comprehensive	(164)	(261)	(368)	(574)	(171)	(552)
Profit before interest, depreciation and tax (EBIDT)	(37)	(132)	(195)	(173)	407	226
Cash profit/ (loss)	(87)	(181)	(238)	(322)	248	15

(Rs.in lakh)

The unaudited consolidated financial results for the quarter ended December 31, 2023, unaudited consolidated financial results for the quarter ended September 30, 2023 and audited consolidated financial results for the year ended March 31,2023 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 reviewed 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 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 5 out of above 6 have been reviewed by their respective statutory auditors.

• 1. The figures for the previous periods have been regrouped / rearranged wherever necessary.
• 1. Amount mentioned as '0' in the financial results is below rounding off threshold adopted by the Company. Adding the individual figures may therefore not always result in exact total given.
• II. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on February l3, 2024. 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 consolidated 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 of Directors

Managing Director DIN: 00272930

Place: Delhi Date: February 13,2024