DCWLIMITED
To,	May 24, 2022
National Stock Exchange of India LimitedExchange Plaza Bldg.,5th Floor, Plot No.C-1'G' Block, Near Wockhardt,Bandra Kurla ComplexMumbai 400 051.Fax:26598237/38DCWScrip Code:	BSE LimitedDepartment of Corporate Services,Ist floor, New Trading RingRotunda Building,Phiroze Jeejeebhoy Towers,Dalal Street, Mumbai - 400 001.Fax : 22723121/3719/ 2037/2039Scrip Code :500117
Dear Sir/Madam,Sub.:Outcome of the Board Meeting held on May 24, 2022 in terms of Regulation30 and Regulation 33 of the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations, 2015Pursuant to the provisions of Regulation 30 and 33 of SEBI (Listing Obligations andDisclosureRequirements)Regulations,2015inform you that the Board of Directors of the Company at its meeting held today ie.May 24, 2022, inter alia, have approved:	("ListingRegulations"),wewishto
(i)The Audited Financial Statements of the Company for the 4th quarter andFinancial Year ended March 31, 2022, and(ii) Recommendation for the payment of dividend of Rs. 0.40/- (Rupees FortyPaisa only) (i.e. 20%) per Equity Share of Rs. 2/- each (fully paid-up) forthe Financial Year ended March 31, 2022 and the same shall be payablesubject to approval of the Shareholders at the ensuing Annual GeneralMeeting ('AGM') of the Company.(iii) Re-Appointment of:
(a) Mr.Bakul Premchand Jain (DIN:2023.	00380256) as Managing Director ofthe Company for a further period of 3 years with effect from July 27,

Sub.: Outcome of the Board Meeting held on May 24, 2022 in terms of Regulation 30 and Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

(i) The Audited Financial Statements of the Company for the 4th quarter and Financial Year ended March 31, 2022, and (ii) | Recommendation for the payment of dividend of Rs. 0.40/- (Rupees Forty Paisa only) (i.e. 20%) per Equity Share of Rs. 2/- each (fully paid-up) for the Financial Year ended March 31, 2022 and the same shall be payable subject to approval of the Shareholders at the ensuing Annual General Meeting ('AGM') of the Company.
(iii) | Re-Appointment of:

"NIRMAL" HEAD DCW OFFICE LIMITED 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

(b) Mr. Vivek Shashichand Jain (DIN: 00502027) as Managing Director of the Company for a further period of 3 years with effect from March 1, 2023.

As per Circular No. LIST/ COMP/ 14/ 2018 - 19 and Circular No. NSE/ CML/ 2018/24 dated June 20, 2018 issued by BSE Limited and National Stock Exchange of India Ltd respectively, Mr. Bakul Premchand Jain and Mr. Vivek Shashichand Jain are not debarred from holding the office of Director by virtue of any order passed by SEBI or any other statutory authority.

' (Details of Managing Directors as required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 ('said Circular') is given in "Annexure I")

Accordingly, we are enclosing herewith:

(i) A copy of Audited Financial Statement of the Company for the 4'* quarter and Financial Year ended March 31, 2022.
(ii) | Audit Report on the Financial Statement of the Company for the 4t quarter and Financial Year ended March 31, 2022, issued by M/s. Chhajed Doshi, Statutory Auditors of the Company.
(iii) A brief profiles of Mr. Bakul Premchand Jain and Mr. Vivek Shashichand Jain - as mentioned in "Annexure - I".

Pursuant to Regulation 33(3) (d) of the Listing Regulations, we hereby declares that the Company's Statutory Auditors M/s. Chhajed & Doshi, have issued audit report with an unmodified opinion on the Audited Financial Statement of the Company for the Financial Year ended on March 31, 2022.

The Board Meeting commenced at 11:30 a.m. (IST) and concluded at 02.45 p.m. (IST). OX

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

These results are also being made available on the website of the Company at www.dewltd.com

This is for your information and records.

Thanking You,

Yours faithfully, For DCW Limited

Sr. General Manager (Legal) & 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.dewltd.com, CIN-L24110GJ1939PLC000748

Annexure I

	DCW
Appointment of Mr.category of Managing DirectorsName of DirectorsReasonchangefor	Annexure IBakul Premchand Jain and Mr. Vivek Shashichand Jain in theMr. Bakul Premchand JainAppointment	Mr. Vivek Shashichand JainAppointment
appointment,viz.remeval__death—erotherwise
Date of appointmentjeessation-& term ofappointment	Appointed for the period of 3 yearseffective 27/07/2023	Appointed for the period of3 years effective 01/03/2023
Brief profile	PremchandBakulMr.JainjoinedCompanyserviceVice istheoftheasPresident in Caustic Soda Division in the division of the Company. HeHeappointedyearwas1982.the isasDirector in the year 1984 and became the 1984Managing Director of the Company in the appointmentHe has an overall 40 years of Director in the year 2014, heyear 2006.wideexperienceIndustrytheinpresentlylooksoverallafterthemanagement including strategic planning 38 years of wide experienceand financial functions of the Company. innewHechargeprojectsinofisdiversifications. Under his leadership, the expansion	the Mr. Vivek Shashichand JainPVCin-chargetheofCompanywiththesinceandpriorhistoManagingasand wasPresidentSr.theofgeneral Company. He has an overallHeIndustry.wastheand instrumentalinthePVCtheof
	Company has also set-upa 2 x 25 MW. capacity.Thermal Co-generation plant at its Works leadership, the Company hasat Sahupuram,Nadu, makingTamilthe setCompanynotonlyself-sufficientpowerrequirementsbutalsopowersurplusElectricityselltotoBoards/ third parties.of Related	UnderhisChlorinatedupPolyunits Vinyl Chloride Project in itshaving Sahupuram Works.RelatedBakulMr.

"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

CHHAJED & DOSHI CHARTERED ACCOUNTANTS

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

TO THE BOARD OF DIRECTORS OF DCW LIMITED

Opinion

We have audited the accompanying financial results of DCW Limited ("the Company"), 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 ('Listing Regulations').

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

(i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
(ii) gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS') specified under section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other accounting principles generally accepted in India, of the net profit, other comprehensive income and other financial information of the Company for the quarter and year ended 31° March, 2022.

Basis for Opinion

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

Emphasis of Matter

We draw attention to Note No. 4 to the audited financial results for the quarter and Year ended 31° March, 2022, which describes the uncertainty related to the outcome of the petitions/appeals filed by the company in the matter of;

e Electricity tax demand of Rs. 6977.21 lakhs on captive power generated and other matters during the period 2003 to 2022;
e._ Custom duty demand of Rs. 3,164.60 lakhs of coal imported by the company during 2011 and 2012; and

Page 1 of 3

° " Phone: 022- 61037878 © Fax: 022-61037879 e Email: [email protected]

CHHAJED & DOSHI CHARTERED ACCOUNTANTS

e 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.

Our opinion is not modified in respect of the above matter.

Board of Director's Responsibilities for the Financial Results

These financial results have been prepared on the basis of the annual financial statements of the Company. The Company's Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with the Ind AS and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial results, the Board of Directors is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial results.

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

i e Identify and assess the risks of material misstatement of the financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence rat i sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a

Page 2 of 3

Head Office: 101 Hubtown Solaris, Near East West Flyover, N. S. Phadke Marg, Andheri (E), Mumbai 400069 e Phone: 022-61037878 ¢ Fax: 022-61037879 «© Email: [email protected]

CHHAJED & DOSHI CHARTERED ACCOUNTANTS

material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

© Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.
® Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
e Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- e Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
- e We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
e We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

For CHHAJED & DOSHI Chartered Accountants [Firm Reg. No.101794W]

CA. Nitesh Jain Partner Membership No. 136169 UDIN: 22)/36Gi¢qATMRDKAYS Sy

Place: Mumbai Date: 24 May, 2022

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Head Office: 101 Hubtown Solaris, Near East West Flyover, N. S. Phadke Marg, Andheri (E), Mumbai 400069 e Phone: 022-61037878 e Fax: 022-61037879 e¢ E mail: [email protected]

DCW LIMITED

		DCW LIMITED	Registered office : Dhrangadhra - 363315 ( Gujarat )
		Head Office		'Nirmal', Nariman Point , Mumbai - 400021.
Website : www.dewitd.com , Telephone : 22871914/16.Telefax ; 22 22028838, E-mail : [email protected]CIN ; L24110GJ1939PLC000748
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31°" MARCH 2022					(Rs. In lakhs)
PARTICULARS	Audited	QUARTER ENDED31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021Unaudited	Audited	Audited	YEAR ENDEDAudited
INCOME1 Revenue from Operations2 Other income	70,723.13	65,512.39	45,567.95727.63	2,45,473.50	146,426.17
3. TOTAL INCOME4, EXPENSES :	132.3670,855.48	127.6865,640.07	46,295.58	610.212,46,083.71	1,133.191,47,559.36
a. Cost of materials consumedb, Purchase of stock-in-tradec. Changes in inventories of finished goods	39,609.17995.66(1,629.10)	34,448.121,702.782,013.52	26,129.067.26370.09	1,37,657.082,699.201,779.70	78,118.13150.03(2,658.92)
d. Employee benefits expensee. Finance costsf. Depreciation	4,094.492,580.042,213.73	4,083.772,750.352.21471	2,746.553,618.342,220.40	15,637.8811,307.158,852.59	13,312.9711,967.438,737.13
g. Other Expenses :Power and Fuel	11,317.69	8,877.60	4,407.50	33,838.57	19,475.05
Other expenses5. TOTAL EXPENSES6. Profit / (Loss) before exceptional items and tax	6,454.7965,636.475,219.01	5,462.8261,553.674,086.40	4,924.3144,423.511,872.07	21,377.372,33,149.5412,934.17	17,090.031,46,191.851,367.51
7. Exceptional items (Refer Note 7)	-	-	-	41,390.80	-
8. Profit / (Loss) before tax	5,219.01	4,086.40	1,872.07	14,324.97	1,367.51
Tax Expense :a. Current taxb. Earlier year's tax	1,000.00(130,91)	716.00-	250.00-	2,600,00(162.63)	250.00-
c. Deferred tax9, TOTAL TAX EXPENSE10, Net Profit / (Loss) for the period	(427.57)441,524,777.49	701.721,417.722,668.68	975.111,225.11646.96	1,136.983,574.3510,750.62	738.20988.20379.37
11. Other Comprehensive IncomeA i) Items that will not be reclassified to profit or loss	(94.85)	17.88	(63.97)	(59.22)	47.50
(Acturial gain / loss on employee defined benefit fund recognised inOther Comprehensive Income )ii) Income tax relating to items that will not be reclassified to profit or loss	33.15	(4.18)	22.42	20.70	(16.60)
B i) Items that will be reclassified to profit or lossii) Income tax relating to items that will be reclassified to profit or lossTotal Other Comprehensive Income	-=(61,70)	--7.73	--(41.55)	=-(38.52)	7-30.90
12. Total Comprehensive Income	4,715.79	2,676.41	605.40	10,712.10	410.21
13. Paid-up equity share capital(Face value of Rs. 2/- each)	5,220.61	5,220.61	5,220.61	5,220.61	5,220.61
14. Earnings per shareBasicDiluted	1.831.63	1.020.94	0.250.25	4.423.78	0.150.15
* Not annualisedAUDITED SEGMENT REVENUE, RESULTS AND CAPITAL EMPLOYED	&	&FOR THE QUARTER AND YEAR ENDED 31°" MARCH, 2022
PARTICULARS	Audited	QUARTER ENDED31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021Unaudited	Audited	Audited	YEAR ENDEDAudited
I) Segment Revenue : (Gross Income )a. Soda Ash	6,713,75	4,356.76	4,489.22	20,242.71	17,869.53
lb. Caustic Sodaic. Synthetic Iron Oxide Pigmentsid. PVC	19,069.793,789.7634,645.76	18,927.902,856.9633,542.81	8,090.702,245.3725,915.86	67,014.5910,753.301,24,335.58	35,570.975,977.3170,815,87
le. CPVCf, Others / UnallocatedGross Revenue from operation	6,260.80243.2770,723.13	5,614.54213.4265,572.39	4,590.89235.9145,567.95	21,526.961,600.362,45,473.50	14,857.251,335.241,46,426.17
ii. Segment Results : (Profit before Interest, Tax and exceptional items)a. Soda Ashb, Caustic Soda	(164.68)1,885.04	(786.72)739,27	28.46(700,99))	(995.70)3,805.41	668.43(1,355.09)
c, Synthetic Iron Oxide Pigmentsd. PVCle. CPVC	394,974,138.851,529.69	(272.72)5,453.821,693.22	(50.38)4,740.041,419.34	(254.85)15,604.385,299.66	(1,109.53)10,721,593,837.91
f. OthersTotal :Less : Interest	15.187799.052,580.04	9.946,836.752,750.35	53.945,490.413,618.34	782.4224,241.3211,307.15	577.6313,334.9411,967.43
Add:Exceptianal ItemsTOTAL PROFIT BEFORE TAXiii. Capital Employed (Segment Assets)	-5,219.01	-4,086.40	-1,872.07	1,390.8014,324.97	-1,367.54
a, Soda Ashb. Caustic Sodaic, Synthetic Iron Oxide Pigments	31,881.1756,119.4139,818.77	30,751.6059,747.6839,328.07	30,587.1350,769.1139,051.25	31,981.1756,119.4139,818.77	30,587.1350,769.1139,051.25
d. PVCe, CPVCf. Others	15,381.0627,061.2619,963.94	31,731.8328,090.3712,909.86	21,554.9527,396.2011,792.70	15,381.0627,061.2619,963.94	21,554.9527,396.2011,792.70
Total :iii. Capital Employed (Segment Liabilities)	1,90,325.61	2,02,559.35	1,81,151.35)	1,90,325.61	1,81,151.35
a, Soda Ashb. Caustic Sodaic, Synthetic Iron Oxide Pigments	3,193.6010,930.922,000.05	5,415.3017,738.811,872.60	5,085.1412,904.341,763.10	3,193.6010,930.922,000.05	5,085.1412,904.341,763.10
	28,276.391,924.042,527.91	34,672.243,441.871,368.52	25,725.922,549.789,491.40	28,276.391,924.042,527.91	25,725.922,549.789,491.40
	48,852.91	64,509.28	57,519.67	48,852.91	57,519.67

AUDITED STATEMENT OF ASSETS & LIABILITIES : (Rs. In lakhs)

Head Office 'Nirmal', Nariman Point , Mumbai - 400021.

		DCW LIMITED


Website : www.dewltd.com , Telephone : 22871914/16.
Telefax : 22 22028838, E-mail : [email protected]
CIN : L24110GJ1939PLC000748
AUDITED STATEMENT OF ASSETS & LIABILITIES :		(Rs. In lakhs)
	As at	As at
Particulars	31.03.2022Audited	31.03.2021Audited
ASSETS
41. Non Current Assets
(a) Property, Plant and Equipment(b) Capital work in progress	4,33,861.00809,54	1,39,624.01381.10
(c) Right - of - use Assets	1,345.76	1,067.75
(d) Financial Assets
(i) Investments(ii) Other Financial Assets	0.86961.01	0.864,794.53
(e) Income Tax Assets (Net)	-:	137.85
(f) Other Non-Current AssetsSub total - Non current assets	575.33	399,95
2, Current assets	1,37,553,.50	1,46,406.05
(a) Inventories	24,708.80	16,908.77
(b) Financial Assets.(i) Trade receivables	11,646.90	9,519.96
(ii) Cash and Cash equivalents	8,766.90	5,000.50
(iii) Bank Balances Other than above(iv) Loans	2,477.35110.58	7,244.88119,86
(c) Other Current assets	$061.58	2,324.22
Sub total - Current assets	52,772.11	41,118.19
TOTAL ASSETSEQUITY AND LIABILITIES	1,90,325.61	187,524.24
A. Equity
(a) Equity Share Capital	§,220.61	5,220.61
(b) Other EquityTotal - Equity	74,961.1380,181.74	63,498.9468,719.55
B. Liabilities
Non - Current liabilities1(a) Financial Liabilities:
(i) Borrowings	44,091.18	52,273.70
(ii) Lease Liabilities(iii) Other Financial Liabilities	291.024,075.00	95.613,642,00
(b) Provisions	1,845.70	1,532.37
(c) Deferred Tax Liabilities (net)(d) Other Non Current liabilities	7,271.66910.21	6,155.38979.49
Total - Non Current liabilities	58,484.77	64,678.55
2. Current liabilities
(a) Financial Liabilities(i) Borrowings	11,062.22	10,032.48
(ii) Lease Liabilities	136.56	13.07
(ii) Trade payablesDues to Micro and Small Enterprises	603.58	796.58
Dues to Other than Micro and Small Enterprises	28,976.08	29,001.79
(iv) Other Financial liabilities(b) Provisions	4,580.65686.40	5,358.89569.40
(c) Other Current liabilities	5,597.74	8,363.93
(d) Income Tax Liabilities (Net)	15,87	-
Total - Current liabilities.TOTAL - EQUITY AND LIABILITIES	51,659.101,90,325.61	54,126.141,87,524.24

CASH FLOW STATEMENT FOR THE YEAR ENDED 31°" MARCH, 2022 (Rs. In lakhs)

articularsParti	é	For the year ended31° March 2022		For the year endedPsMarch 202131°
A.Cash flow from Operating Activities
Net profit before tax		14,324.97		1,367.51
Adjustments for :
Depreciation and amortisation expense	8,852.59		8,737.13
Unrealized Exchange Loss / (Gain)	140.78		11.28
Finance Costs	11,307.15		41,967.43
Interest income	(372.15)		(407.50)
(Profit) / Loss on Sale of Asset (Net)	324.46		0.54
Income Recognized Against Capital Grant	(69.28),		(69.28)
Provisions made/(written back) during current year	381.11		253.60
Balances written off (Net )	83.15		14.72
		20,647.81		20,507.92
'Operating profit before working capital changes		34,972.78		21,875.43
Adjustments for : Working Capital
Trade receivables & other current assets	(5,042.79)		(915.51),
Loans	9.28		(385,13)
Inventories	(7,800.03)		792,82
Trade and other payables	(2,059.63)	(14,893.17)	392.52	(115.30);
Cash generation from operations		20,079.61		21,760.13
Direct taxes paid (Net off Refund)		(2,283.65)		8.81
Net cash flow generated from / (used) in operating activities		17,795.96		21,768.94
B, Cash flow from Investing Activities
Purchase of fixed Assets	(3,844.65)		(1,787.51),
Sale of Fixed Assets	130.28		16,09
Fixed Deposit with Banks	8,497.86		(6,421.10)
Interest income _	372.15		407.50
Net cashflowgel ierated from / (used) in investing activities		5,155.64		(7,785.02)

Registered office : Dhrangadhra - 363315 ( Gujarat ) Head Office Nirmal', Nariman Point , Mumbai - 400027.

	DCW LIMITEDHead Office	Registered office : Dhrangadhra - 363315 ( Gujarat )Nirmal', Nariman Point , Mumbai - 400027.
Website : www.dewiltd.com , Telephone : 22871914/16.
Telefax : 22 22028838, E-mail : [email protected]
CIN : L24110GJ1939PLC000748
CASH FLOW STATEMENT FOR THE YEAR ENDED 315" MARCH, 2022			(Rs. In lakhs)

Parti arlewlars	For the year ended31" March 2022	For the year ended31" March 2021
iC. Cash flow from Financing Activities
Proceeds from issue of convertible warrants	750.09	-
Proceeds from Long-Term Borrowings	-	46,697.00
Repayment of Long Term Borrowings	(4,521.02)	(43,454.82)
Short Term Borrowings (Net)Unpaid Dividends transferred to Investor Education and Protection Fund	(5,377.72)	150.46
Finance Costs	(10.46)(9,906.73)	(11.35)(13,212.81)
Lease Liability paid	(119.36)	(21.91)
Net cash flow generated from / (used) in financing activities	(19,185.20)		(9,853.43)

Net increase / (Decrease) in Cash and Cash equivalents	3,766.40		4,130.49
Opening Cash and Cash Equivalents	5,000.50		870.01
Closing Cash and Cash Equivalents	8,766.90		§,000.50
	3,766.40		4,130.49

NOTES :

The above financial results are drawn in accordance with the accounting policies consistently followed by the Company. The results have have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 24 May 2022.
The results for the quarter and year ended 31™ March, 2022 are in compliance with IND AS prescribed under section 133 of the Companies act 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (as amended).
The Company has issued 1,57,91,314 warrants amounting to Rs. 30 Crores during the year ended 31 March 2022 against which Rs.7.5 Crores i.e. 25% amount has been received. 4. In the matter of

A. Tamil Nadu Electricity Tax demand of Rs. 6,977.21 lakhs in respect of captive power generated at Sahupuram unit for the period 2003 to 2022, the Company has been legally advised and is hopeful of favourable outcome before the Supreme Court on the invalidity of and the retrospective application of the Amending Act of 2003 and in the writ petition filed before the Hon'ble Madras High Court. No provision is considered necessary by the management for the Electricity tax demand.

B. In respect of demand of differential duty of Customs of Rs. 3,164.60 lakhs in respect of coal imports in earlier years the Company has been legally advised that it has the fair chance of Success before CESTAT. Accordingly no provision has been made in the accounts.

C. in the matter of re-possession notice issued by the State Government and demand of lease rent relating fo land at Sahupuram works for which the assignment deeds are still to be executed, the company has been legally advised that it has very good case and hence the ownership of the land would be eventually transferred in the name of the Company as per Sec.53A of the Transfer of Property Act. Accordingly the said land is treated as "freehold".

Section 115BAA in the Income Tax Act 1967 ("Act") provides @ non-reversible option to domestic companies to pay corporate tax at a reduced rate effective from 1* April 2019 subject to certain conditions. The company has assessed the applicability of the Act and opted to continue the existing tax rate (i.e.34.944%) for the year ended 31° March 2022.
The Deferred Tax is net off MAT Credit available for carry forward.
During the year ended 31° March 2022, the Company has received Rs. 1,390.80 Lakhs towards maturity proceeds of Insurance policies.
Board of Directors at their meeting held on 24" May 2022 have declared final dividend of Rs.0.40 per equity share of Rs. 2/- each i.e, 20% on paid up equity share capital of the Company for the

financial year 2021-22 which is subject fo approval by the shareholders of the Company

The figures for the last quarter are the balancing figures between the audited figures in respect of the full financial year and the year to date published figures upto the third quarter of the financial year. 10. The figures for the corresponding previous periods have been restated / regrouped wherever necessary, to make them comparable.

Place : Mumbai Dated : 24 May, 2022

For and on behalf of the Board of Directors

DIN : 00380458

DCW LIMITED - Manufacturers of CHEMICALS THAT MAKE INDUSTRIES HUM Visit us at : www.dcwltd.com

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DCW Ltd. Capital/Financing Update 2022

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