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DCW Ltd. Annual Report 2021
63614_rns_2021-06-03_c9225cb3-ebf2-4706-9d3b-0817c083c151.pdf
Annual Report
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| DCW__UMITED | ||
|---|---|---|
| To, | National Stock Exchange of India Ltd.Exchange Plaza Bldg.5th Floor, Plot No.C-1'G' Block, Near Wockhardt,Bandra Kurla ComplexMumbai 400 051.Fax:26598237/38DCWScrip Code: | June 3, 2021BSE LimitedDepartmentCorporateofServices,1s floor, New Trading RingRotunda Building,Phiroze Jeejeebhoy Towers,Dalal Street, Mumbai- 400 001.Fax : 22723121/3719/ 2037/2039Scrip Code :500117 |
| enclosed:(i)(ii)containedChhajed | Dear Sir(s)/ Madam,Sub: Revised Audited Financial Results of the Company for the 4and Financial Year ended 315! March 2021Financial Year ended 31% March 2021;MarchendedFinancialYear31%Statutory Auditors of the Company.Please note that due to typographicalandcertain line itemsinherewithwesubmittingTherefore,areDoshi, Chartered&ended 315 March 2021. | quarterThis is with reference to our letter dated 215! May 2021 submitted for the outcome ofthe Board Meeting of the Company held on 21s! May 2021, wherein we had inter-aliaCopy of the Audited Financial Results of the Company for the 4th quarter andAudit Report on the Financial Results of the Company for the 4 quarter andM/sChhajedissuedDoshi,2021,by&linking error in theexcel file,figuresof Cash Flow Statement got wronglymentioned.AuditedrevisedFinancialResultsthe(including revised Cash Flow Statement) of the Company after rectifying the aboveerror along with the Audit Report thereon issued by our Statutory Auditors M/sAccountants, for the 4!" quarter andFinancial Yea |
Sub: Revised Audited Financial Results of the Company for the 4 quarter and Financial Year ended 315! March 2021
- (i) Copy of the Audited Financial Results of the Company for the 4th quarter and Financial Year ended 31% March 2021;
- (ii) Audit Report on the Financial Results of the Company for the 4 quarter and Financial Year ended 31% March 2021, issued by M/s Chhajed & Doshi, Statutory Auditors of the Company.
DCW LIMITED HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAI-400 021. TEL.: 2287 1914, 2287 1916, 2202 0743 TELEFAX: 22 2202 8838 REGISTERED OFFICE : DHRANGADHRA - 363 315 (GUJRAT STATE) Email: [email protected], Website: www.dewltd.com, CIN-L24110GJ1939PLC000748
Except for the above mentioned changes, all other information in the Audited Financial results submitted on May 21, 2021 remains unchanged.
We hereby confirm that due to such corrections, there is no impact on the revenue, profit, assets or liabilities figures of the Company.
We would request you to take the above on record and regret the inconvenience caused,
Thanking You,
Yours faithfully,
For DCW Limited:
ay)
Dilip Darji Sr. General Manager (Legal) and Company Secretary Membership No. ACS- 22527
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAI-400 021. TEL.: 2287 1914, 2287 1916, 2202 0743 TELEFAX: 22 2202 8838 REGISTERED OFFICE : DHRANGADHRA - 363 315 (GUJRAT STATE) Email: [email protected], Website: www.dcwltd.com, CIN-L24110GJ1939PLC000748
CHHAJED & DOSHI CHARTERED ACCOUNTANTS
Auditor's Report _on Quarterly and Annual Financial Results pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
The Board of Directors DCW Limited Mumbai
-
- We have audited the accompanying statement of financial results of DCW Limited ('the company') for the quarter and year ended 31° March 2021 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, read with SEBI Circular No CIR/CFD/FAC/62/2016 dated July 5, 2016.
-
- The preparation of these financial results is the responsibility of the Company's Management in accordance with applicable Indian Accounting Standards ('Ind AS') specified under section 133 of the Companies Act, 2013, read with relevant rules and has been approved by the Board of directors at their meeting held on 21% May, 2021.
-
- Our responsibility is to express an opinion on these financial results based on our audit of such Standalone Ind AS financial statements, which have been prepared in accordance with the Accounting Standards notified under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 and other accounting principles generally accepted in India. Attention is drawn to the fact that the figures for the quarter ended March 31, 2021 as reported in these results are the balancing figures between the audited figures in respect of the year ended March 31, 2021 and the published year to date figures up to the end of the third quarter of the relevant financial year. Also, the figures up to the end of the third quarter had only been reviewed and not subjected to audit. he
- Basis of Qualified Opinion
ee
ss
The company's trade receivables are subject to confirmation as at year 31" March 2021, possible effect(s) of the same on assets, liabilities and profit, if any, is not ascertainable.
We conducted our audit in accordance with the Standard on auditing specified under section 143(10) of the Companies Act, 2013.
Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results.
The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company's preparation and fair presentation of the Statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the Company's internal financial control with reference to the Statement.
—audit also includes evaluating the appropriateness of the accounting policies used and the 'reasonableness of the accounting estimates made by the Management, as well as evaluating the overall Y eae roe \ of the Statement. We believe that our audit provides a reasonable basis for our Opinion. on
Page 1 of 2
Head Office: 101 Hubtown Solaris, Near East West Flyover, N. S. Phadke Marg, Andheri (E), Mumbai 400069 "== Phone: 022-61037878 e Fax: 022-61037879 «© Email: [email protected] &
CHHAJED & DOSHI CHARTERED ACCOUNTANTS
5. Qualified Opinion
In our opinion and to the best of our information and according fo the explanations given to us, except for effects / possible effects of matters stated in paragraph 4 above, these quarterly and annual financial results:
- |. aré presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard: and
- ii. give a true and fair view of the net profit for the quarter as well as net profit for the year ended March 31, 2021.
6. Emphasis of Matters
- i. We draw attention to Note No. 3 to the financial statements which describe the uncertainty related to the outcome of the petitions/appeals filed by the company in the matter of:
- a. electricity tax demand of Rs. 6429.26 lakhs on captive power generated and other matters during the period 2003 to 2019;
- b. custom duty demand of Rs. 3164.60 lakhs of coal imported and other matters by the company during 2011 and 2012: and
- c. Execution of assignment deeds of the lands at Sahupuram works in respect of which the state government has issued notice of repossession and demanded lease rent for the period occupied by the company. The land is treated as freehold.
No provision has been made for the aforesaid demands in view of the factors stated in the said note.
ii. Effects of COVID-19: We draw attention to Note 6, which describes the impact of the outbreak of coronavirus (COVID-19) on the business operations of the company. In view of highly uncertain economic environment, a definitive assessment of the impact on the subsequent periods is highly dependent upon circumstances as they evolve.
Our opinion is not modified in respect of these matters.
CA. Piylish Chhajed | Partne M. No. 108090
Place: Mumbai Date: 21% May, 2021 UDIN: 21108090AAAABG8349
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Head Office: 101 Hubtown Solaris, Near East West Flyover, N. S. Phadke Marg, Andheri (E), Mumbai 400069 « Phone: 022-61037878 « Fax: 022-61037879 «© Email: [email protected]
DCW LIMITED
| DCW LIMITED | |||||
|---|---|---|---|---|---|
| Head Office | Registered office : Dhrangadhra - 363315 ( Gujarat)Nirmal', Nariman Point, Mumbai - 400021. | ||||
| D C'Loom, felephone : 22871974/16,Telefax : 22 22028838, E-mail : [email protected] | |||||
| CIN : L24110GJ1939PLC000748AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2021: | (Rs. In Laes) | ||||
| PARTICULARS | 31.03.2021 | QUARTER ENDED31.12.2020 | 31.03.2020 | YEARENDED31.03.2021 | YEARENDED37.03.2020 |
| REVENUE1. Revenue From Operations | Audited45,567.95 | Unaudited38,607.98 | Audited29,959.09 | Audited1,46.426.17 | Audited120,727.68 |
| 2. Other Income3. TOTAL INCOME4. EXPENSES: | 727.6346,295.58 | 169.9338,777.99 | 455,9029,814.99 | 1,133.19147,559.36 | 853.871,28, 587.55 |
| a. Cost of materials consumed0. Purchase of stock-in-trade©. Changes In inventories of finished goods | 26,129.087.28370.03 | 22,693.23108.03 | 15,974.8845.66 | 78,118.13.150.03 | 65,058.3070,20 |
| 6. Employee benefits expensee. Finance Costf. Depreciation | 2,746.553,618.34 | (2,290, 78) 3,448.592,732.91 | (614.25)5240.292,896.85 | (2,658.92)13,312.9714,867.43 | (1,537.96)12,251.9310, 745,27 |
| g, Other expenses:Power & FuelOther Expenses | 2.220404,407.50 | 2,188.604,850.30 | 2187 444,741.34 | 8,737.1319,475.05 | 8,720, 7920,333, 77 |
| 5. TOTAL EXPENSES6. Profit / (Loss) before exceptional items and tax | 4,924.3444,423.511,872.07 | 4,042.7437,783.02994.89 | 4,994.7133,405.86(3,590.87) | 17,090.031,46,191.851,367.51 | 16,899.09132,547.39(3,965.84) |
| 7. Exceptional items8. Profit | - | - | - | - | - |
| / (Loss) before taxTax expense :a. Current tax | 1,872.07250.00 | 994.89 | (3,590.87) | 4,367.57250.00 | (3,965.84) |
| b, Deferred tax$. TOTAL TAX EXPENSE10. Net Profit / (Loss) For the period | 1,225.114475.41396.96 | 375.30375.30619.59 | -(7,085.73)(1,085,173)(2,505.74) | 938.201,976.40(608.89) | -(1,289.68)(7,289.68)(2,676.76) |
| 11, Other Comprehensive Income / (Loss)A i) tems that will not be reclassified to profit or loss | |||||
| (Acturial gain / (loss) on employee defined benefit fund recognisedin Other Comprehensive Income)Aji) Income tax relating to items that will will not be reclassified te profil or loss | (63.97)22.42 | Sr.I16(13.0) | 68,73(24.06) | A750. | 148.62 |
| 8 i) tems that will not be reclassified to profit or lossB ii) Income tax relating to Items that will be reclassified to profit or lassTotal Other Comprehensive Income | -(41.55) | 24.15 | -44.67 | (16.60)- | (52.02)- |
| 12, Total Comprehensive Income | 355.41 | 643.74 | (2,461.07) | 30.90(577.99) | 96.60(2,579.56), |
| 13, Paid-up equity share capital (Face value of Rs. 2/- each)14. Earnings per share (Basic and Diluted) | 5,220.61 | 5,220.64 | 5,220.67 | 5,220.61 | 5,220.61 |
| "Not annualisedSEGMENT REVENUE, RESULTS AND CAPITAL EMPLOYED | 0.15; | 024= | (0.96).e | (0,23) | (412) |
| PARTICULARS | 31.03.2021 | QUARTER ENDED31.12.2020 | 31,03.2020 | YEARENDED31.03.2021 | PREVIOUSYEAR END31.03.2020 |
| !) Segment Revenue : ( Gross Income }ja. Soda Ashlb. Caustic Soda | Audited4,489,22 | Unaudited5,060.05 | Audited4,192.42 | Audited17,869.53 | Audited19,826.49 |
| ic, Synthetic Iron Oxide Pigmentid. P¥Cle. CPV | 8,090.702,245.3725,915.86 | 6,571.061,710.3920,790.00 | 10,435.791,446.7610,859.89 | 35,570.975,877.3170,815.87 | 46,752.963,963.7045,409.88 |
| @, Others / UnallocatedGross Sales from operationii. Segment Results : (Profit before Interest and Tax} | 4,590.89236.9445,567.95 | 4,264.62217.8638,607.98 | 2450.75272.4829,359.09 | 14,857.251,935.244,46,426.17 | 10,294.83V4ATS.774,27,727.68 |
| a. Soda Ashb, Caustic Sada | 28.46(700.98) | 307.93(7,186.87) | 572.99(22.16) | 668.43(1,355.08) | 3.473656,327.84 |
| ic. Synthetic Iron Oxide Piamentid. PVCa, CPVC | (50.38)4,740.044,419.34 | (279.29)3,604.561,267.72 | (526.18)(949,31)189.68 | (1,109.53)10,721.593,631.94 | (2:239,98)(1,795.05)1,264.80 |
| f, Others / UnallocatedTotal ;Less :Interest | 53.945,490.443.618,.34 | 19.153,727.202,792.31 | 40.97(694.02)2,896.85 | o77.6313,334.94,W1,967.49 | 748.186,779.4310,746.27 |
| Exceptional Items -( Profit.) / LossTOTAL PROFIT BEFORE TAXiii. Capital Employed (Seqment Assets ) | e1,872.07 | =994.89 | =(3,590.87) | =1,367.51 | =.(3,965.84) |
| la, Soda Ashlb, Caustic Sodaic. Synthetic ran Oxide Pigment | 30,587.7350,769.1139,051.25 | 30,696.6731,560.3739, 766.69 | 29,564.3550,167.4940.806,70 | 30,587.1350,769.1439,051.25 | 29,564.3590,167.4940,606.70 |
| d. Pvce. CPYCOthers/ UnallocatedHf, | 24,554.5527,396.2014,792.70 | 24,807.8728,573,99V1, 783-45 | 18,964.8429,174.7210,721.44 | 21,564.9527,396.2011,782.70 | 18,864.84BOTA 7210,721.44 |
| Total :iil. Capital Employed (Segment Liability }la. Soda Ash | 1,81,151.355,085.14 | 7,84,728.925, 68427 | 1,79,099.575,460.27 | 1,81,151.355,085.14 | 4,79,099.515,460.27 |
| lb, Caustic Sodafc. Synthetic ron Oxide Pigmentid, PVC | 12,904.341,763.1025,725.92 | 12,007.393,938.6921,393,869 | 98,259.151,884,7623,013.33 | 12,904.341,763.1025,725.92 | 18,259.751,884.7623,013.33 |
| 2, CPVCfF Others / Unallocated | 2,948.789,491.40 | 3,080.175,576.83 | 3,099.88.9,680.86 | 2,549.789.49140 | 3,019.88 |
| Total :© | 57,519.67 | 51,846.72 | 61,318.25 | 57,519.67 | 9.680.8661,318.25 |
STATEMENT OF ASSETS & LIABILITIES :
| STATEMENT OF ASSETS & LIABILITIES : | ||
|---|---|---|
| Particulars | As at 31.03.2021Audited | As at 31.03.2020Audited |
| ASSETS | ||
| 1. Non Current Assets | ||
| (a) Property, Plant and Equipment(6) Capital work in progress | 140,687.76384.10 | 7,46,698, 85 |
| Financial Assets(c) | 1,246.75 | |
| (i) Investments | 0.86 | 0.86 |
| Gi) Loans(ili) Other Financial Assets | 1,055.70 | 728.14 |
| ¢) Income Tax Assets (Nat) | '3738.83137,85 | 475.63146.66 |
| d) Other Non-Current Assats | 399.05 | 332.38 |
| 'Sub total - Non current assets2. Current assets | 146,406.05 | 1,49,579.27 |
| (a) inventories | 16,908.77 | 17,707.59 |
| (O) Financial Assets{i) Trade receivables | ||
| (ii) Gash and Cash equivalents | 9,519.965,000.50 | 7,267.51870.07 |
| (il) Bank Balances Other than above | 7244.88 | 4,746.98 |
| (iv) Loans(c) Other Current assets | 119.86 | 164.37 |
| Sub total - Current assets | 2,324.2249,118.99 | 3,636.0833,786.46 |
| TOTAL ASSETS | 1,87,524.24 | 1,83,365.73 |
| EQUITY AND LIABILITIES | ||
| A. Equity{a} Equity Share Capital | 5,220.61 | 5,220.67 |
| {b) Other Equity | 63,498.94 | 62,560.43 |
| Total - EquityB. Liabilities | 68,779.55 | 67,761.04 |
| Non - Current liabilities1 | ||
| (a) Financial Liabilities: | ||
| Long Term Borrowings | $2,273.70 | 46,731.10LoTL2d |
| Other Financial Liabilities.(b) Provisions | 3,737.641,532.37 | 1,366.41 |
| (c) Deferred Tax Liabilities (net) | 6,155.38 | 6,400.58 |
| (d) Other Non Current liabilitiesTotal - Non Current liabilities | 579.49 | 1,048.76 |
| 2. Current liabilities | 64,678.55 | 55,558.09 |
| {a) Financial Liabilities | ||
| (i) Short Tarm Barrawings | 6,517.81 | 6.367.35 |
| (ii) Trade payables.Ouas to Micro and Small Enterprises | 796.58 | 692.24 |
| Ques to Other than Micro and Small Enterprises | 28,001,79 | 39,629,26 |
| (ii) Other Financial liabilities | 7,688.51 | 12,627.59 |
| (b) Provisions | 559.409,568.05. | 471.766,244.48 |
| (¢) Other Current liabilities | 54,126.14 | 60,026.60 |
| Total - Current Iiabilities | 1,87,524,24 | 1,83,365.73 |
| TOTAL - EQUITY AND LIABILITIES | ||
| (Cash Flow Statement for the year ended 31™ March 2021 |
| Ouas to Micro and Small Enterprises | 796.58 | 692.24 | ||
|---|---|---|---|---|
| Ques to Other than Micro and Small Enterprises | 28,001,79 | 39,629,26 | ||
| (ii) Other Financial liabilities | 7,688.51 | 12,627.59 | ||
| (b) Provisions | 559.40 | 471.76 | ||
| (¢) Other Current liabilities | 9,568.05. | 6,244.48 | ||
| Total - Current Iiabilities | 54,126.14 | 60,026.60 | ||
| TOTAL - EQUITY AND LIABILITIES | 1,87,524,24 | 1,83,365.73 | ||
| (Cash Flow Statement for the year ended 31™ March 2021 | ||||
| [Particulars | Far the year enced 31,3,2027 | For the year ended 31.32.2020 | ||
| A.Cash flow from Operating Activities | ||||
| Net profit before tax | 1,367.51 | (3,965.84) | ||
| Adjustments for : Non cash Items | ||||
| Depreciation and amortisation expense | 8.737438 | 6,720.79 | ||
| Unrealized Exchange Loss / (Gain) | 11.28 | 1,123.91 | ||
| Finance Costs | 11,967.43 | 10,745.27 | ||
| Interest income | (407.50) | (246.73) | ||
| (Profit) / Lass on Sale of Asset (NET} | 0.54 | 74.83, | ||
| Income Recognized Against Capital Grant | (69.28) | (69.28) | ||
| Provisions made/(written back) during current year | 253.60 | 253,02 | ||
| Unclaimed balances written back | W472 | 20,507.92 | (297.03) | 20,304.78 |
| Operating orofit before working capital changes | 21,875.43 | 16,338.94 | ||
| Adjustments for : Working Capital | ||||
| Trade receivables & other current assets | (896.16) | (2,064.65) | ||
| Long term leans & advances | (385.13) | 1,690.24 | ||
| Inventories | 792.82 | (5,470.31) | ||
| Trade and other payables | '384.45 | (104.02) | 7,791.59 | 1,946.84 |
| Cash generation from operationsUnrealized Exchange Loss | ZAT71.44 | 18,285.78 | ||
| / (Gain) | (11.283) | (1,123.91) | ||
| Direct taxes paid (Net off Refund)Net cash flow from operating activities | 8.8121,768.94 | (209.39) | ||
| 16,952.48 | ||||
| 8. Cash flow from Investing Activities | ||||
| Purchase of fixed Assets | (1,787.59) | (1.574.55) | ||
| Sala of Fixed Assats | 16.09 | 19.88 | ||
| Fixed Deposit with Bank | (6.4217.10) | (2,990.34) | ||
| Interest income | 407.50 | 246.73 | ||
| Net cash used In investing activities | (7,.785.02) | (4,298.28) | ||
| IC. Cash flow from Financing Activities | ||||
| Proceeds from issue of share capital | - | 7,207,738 | ||
| Proceeds from Long-Tarm Borrowinas | 46,697.00 | 20,358.00 | ||
| Repayment of Long Term Borrowings (term loans) | (43.454.82) | (19,798.06) | ||
| Short Tanm Borrowings (Net) | 150.46 | (9,058.11) | ||
| Unpaid Dividends transferred to Investor Education and Protectian Fund | (11,35) | (10.56) | ||
| Finance Casts | (13,212.81) | (10,577.23) | ||
| Lease Liability paid | (24.91) | (21.32) | ||
| Net cash used In financing activities | (9,853.43) | 11,8 99.55)} | ||
| Net increase / (Decrease) In Cash and Cash equivalents | 4,130.49 | 754.65 | ||
| Opening Cash and Cash Equivalents | ||||
| 870.01§,000.50 | 415.36 |
| NOTES :1. The above financial results are drawn in accordance with the accounting policies consistently followed by the Company. The results have been reviewed b the Audit Committee andapproved by the Board of Directors at their meating held on May 21,2024, |
|---|
| 2. The rasults for the quarter and year ended 31st March, 2027 are in compliance with INDAS as prescribed under seclion 133 of the Companies Act 2013 read with Rule 3 of the Companias(indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2076.3. Inthe matter of |
| A, Tamil Nadu Electricity Tax demand of Rs. 6429.26 lacs in raspect of captive Power generated al Sahupuram unit for he period 2003 to 2079 & olfers, the Company has been legally advisedand is hopeful of favourable outcome befare the Supreme Court on the invalidity of and the rerespective application of the Amending Act of 2003 and in the writ petition filed before the Hon'ble |
| Madras High Court No provision is cansidered nacessary by the management for the Elechicily Tax demand,8. Inrespect of demand of differential duty of Customs of Rs. 3164.60 lacs-in respect of coal inports in earlier years the Company has been legally advised that it has'the fair chance of successbefore CESTAT. Accordingly noprovision has been made in the accounts. |
| ©. Inthe matter of re-possassion nolica issued by the State Government and demand of loase rent relating fo land at Sahupuram works for which the assignment deeds are still to be execuied,the Company has been legally advised that it has very good case and hence the ownership of the land would be evntually transferred in the name of theCompany as per Sac.S3A of the Transfer of Property Act. Accordingly the said land's weated as "freehold, |
| 4. During the year anded 37st March, 2021, the Company has received Rs. 362.92 Crores on allotment of Non Convertible Debentures & Rs.60 Crores on allotment of Optionally ConvertibleOebenturas., |
| 5. In pursuance of Section 115BAA of the income tax act, 1961 notified by the Government of India through taxation Law (Ammendment) Ordiance 2079, Campany has an option of shifting to lowertax rate alang with consequent reduction in carlain tax Incentives. The company ts in process of evaluating the aption and the impact, if any, thereof shall be taken at the time of exercising the option,Govid-19 Impact Analysis :6. |
| "The outbreak of corona virus (COVID-19} pandemic glabally and in India is. causing disturbance and slowdown of économie activity. The Compan, ys parations and revenue during the current quarterwere Impacted dus to COWD-19, The Company has taken into.account the possible impact of COVID-19 in Preparation of the audited financial resufts, including its assessment of recoverable vatuaof its essets based on internal and external information upto the date of aperoval of lhase autiited financial results and currant indicators of future ecanomie conditions." |
| 7 The Deferrad Tax includes MAT Credit Entitlement and reversal af MAT Credit unutilised,&, The figures for the last quarter are the balancing figures belwaen the audited figures in respect of the full financial year and the year to dai9. The figures for the corresponding previous period's have been restated / regrouped wherever necessary,blished figures upto the third quarter of the financial year.ato maka (hem comparable, |
| WDFor and on behalf of theBoard of Directors |
| Place : Mumbai |
| Dated : 217" May, 2027Pramod Kumar Vainrman & ManagingDirecto: |
| DCW LIMITED - ManufacturersofCHEMICALSTHAVisitusat : www.dcwltd.com |