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DCW Ltd. Earnings Release 2025
63614_rns_2025-05-12_646b2cc9-fb9f-41ae-ae60-3f7386ee1a37.pdf
Earnings Release
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May 12, 2025
| National Stock Exchange of India Limited | BSE Limited |
|---|---|
| Exchange Plaza Bldg. | Deparhnent of Corporate Services, |
| 5th Floor, Plot No.C-1 | 1st floor, New Trading Ring |
| 'G' Block, Near Wockhardt, | Rotunda Building, |
| Bandra Kurla Complex | Phiroze Jeejeebhoy Towers, |
| Mumbai 400 051 | Dalal Sh·eet, Mumbai - 400 001 |
| Symbol: DCW | Scrip Code: 500117 |
Dear Sir/ Madam,
To,
Sub.: Outcome of the Board Meeting held today i.e. May 12, 2025, in terms of Regulation 30 and Regulation 33 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations')
Pursuant to the provisions of Regulation 30 and 33 read with Schedule III of Listing Regulations, we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Monday, May 12, 2025, inter alia, have considered and approved:
- The Audited Financial Results of the Company for the fourth quarter and financial year ended March 31, 2025
Accordingly, we are enclosing herewith:
- (a) A copy of Audited Financial Results of the Company for the fourth quarter and financial year ended March 31, 2025; and
- (b) Audit Report on the Financial Results of the Company for the fourth quarter and Financial Year ended March 31, 2025, issued by M/s. V. Sankar Aiyar & Co., Statutory Auditors of the Company .
. Pursuant to Regulation 33(3) ( d) of the Listing Regulations, we hereby declare that the Company's Statutory Auditors, M/s. V. Sankar Aiyar & Co., have issued audit report with an unmodified opinion on the Audited Financial Results of the Company for the fourth quarter and Financial Year ended on March 31, 2025.
DCW LIMITED HEAD OFFICE : 'NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL.: 4957 3000, 4957 3001 REGISTERED OFFICE: DHRANGADHRA - 363 315 (GUJRAT STATE) Email ho@dcwltd com. Website www dcwltd.com. CIN-L24110GJ1 939PLC000748
-
- Recommended a final dividend of Rs. 0.10/- (Rupees Ten Paise only) (i.e. 5%) per Equity Share of Rs. 2/- each (fully paid-up) for the Financial Year ended March 31, 2025 and the same shall be payable subject to approval of the Shareholders at the ensuing Annual General Meeting of the Company.
-
- Re-appoinhnent of M/ s. PKF Sridhar & Santhanam LLP, Chartered Accountants, as Internal Auditors of the Company for FY 2025-26;
-
- Re-appoinhnent of M/ s. R. Nanabhoy and Co., Mumbai and M/ s. N. D. Birla and Co., Ahmedabad, Cost Accountants, as Cost Auditors of the Company for FY 2025-26 to conduct the Cost Audit of the cost records made and maintained by the Company;
The details required under Regulation 30 of the Listing Regulations read with SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, are enclosed as Annexure - 1.
The Meeting of the Board of Directors of the Company commenced at 12:00 Noon and concluded at 02:40 p.m.
These are also being made available on the website of the Company at https:/ / dcwltd.com/.
We request you to take the above on your record.
Thanking You,
Yours faithfully, For DCW Limited
DILIP VISHNUB HAI DARJI Digitally signed by DILIP VISHNUBHAI DARJI Date: 2025.05.12 14:42:01 +05'30'
Dilip Darji Sr. General Manager (Legal) & Company Secretary Membership No.: ACS-22527
Encl.: As above
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021. TEL.: 4957 3000, 4957 3001 REGISTERED OFFICE : DHRANGADHRA - 363 315 (GUJRAT STATE) Email: [email protected], Website: www.dcwltd.com, CIN-L24110GJ1939PLC000748
Annexure -1
Details required under Regulation 30 read with SEBI Circular dated SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
| Sr. No. |
Particulars | M/s. PKF Sridhar & Santhanam LLP (Internal Auditors) |
Mjs. R. Nanabhoy and Co. (Cost Auditors) |
Mjs. N. D. Birla and Co. (Cost Auditors) |
||
|---|---|---|---|---|---|---|
| 1. | Reason for Change viz. appointment, re-appoinhnent, resignation, removal, death or otherwise; |
Re-appointrnent | Re-appoinhnent | Re-appointment | ||
| 2. | Date of appoinhnent/re- appointment/ cessa tion (as applicable) term & of appointment/re- appoinhnent; |
at Th e Board its meeting held on May 12, 2025 has inter alia the approved re- appointment of M/ s. Sridhar PKF & Santhanam LLP, Chartered Accountants, as Internal Auditors of the Company for FY 2025-26. |
at The Board its meeting held on May 12, 2025 has inter alia approved the Re- appointment of M/ s. and Nanabhoy R. Co., Mumbai, Cost Accountants, as Cost Auditors of the Company for FY 2025-26. |
Board at The its meeting held on May 12, 2025 has inter alia approved the Re- appointment of M/ s. N. D. Birla and Co., Ahmedabad, Cost Accountants, as Cost Auditors of the Company for FY 2025-26. |
||
| 3. | Brief profile (in case of appointment); |
PKF Sridhar & Santhanam LLP was in established 1978 and headquartered in Che1n1ai, is a leading firm of Chartered |
R. Nanabhoy & Co., firm of Cost Accountants was established in 1948 by Late Shri. Ruttonshaw |
N. D. Birla & Co., Cost Accountants, Ahmedabad (Gujarat) was established in 1990. The Finn is |
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021. TEL.: 4957 3000, 4957 3001 REGISTERED OFFICE: DHRANGADHRA- 363 315 (GUJRAT STATE) Email: [email protected], Website: www.dcwltd.com, CIN-L24110GJ1939PLC0007 48
| Accountants offering Advisory, and Consulting, Assurance services. of With decades indush·y experience, a nationwide presence, and global reach, the firm combines deep- rooted expertise with a forward-looking approach to deliver value-driven solutions. They have branch offices in key Indian cities including Delhi, Bengaluru, Mumbai, and Hyderabad, them enabling serve clients across diverse sectors with regional insight and national scale. |
They Nanabhoy. offer wide spech·um in of services the and areas of Cost Management Accounting. The firm is steered by dedicated and a motivated team of professionals, led by committed partners by backed sound knowledge of international best practice. to |
& Prominent Leading Service Provider which offers Cost Accounting Services, Financial Services, Income Tax Consultancy Services and CST Consultancy Services |
|
|---|---|---|---|
| Disclosure 4. relationships between (in director) |
Not Applicable of directors case of appoinh11ent of a |
Not Applicable | Not Applicable |
DCW LIMITED
HEAD OFFICE . "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021. TEL.: 4957 3000, 4957 3001 REGISTERED OFFICE: DHRANGADHRA- 363 315 (GUJRAT STATE) Email: [email protected], Website: www.dcwltd.com, CIN-L24110GJ1939PLC000748
V. Sankar Aiyar & Co.
CHARTERED ACCOUNTANTS
lru:l.ependent Auditor's Report on the Quarterly and Year to date audited Financial Results of the .c.omrumy_pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure B.eguirements) Regulations, 2015, as amended
To the Board of Directors of DCW Limited Report on the Audit of Financial Results
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) give a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Company for the year ended 31 March, 2025.
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 statements in India 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. 8 to the financial results for the quarter and year ended March 31, 2025, which describes the uncertainty related to the outcome of the petitions/appeals filed by the company in the matter of:
CHARTERED ACCOUNTANTS Mumbai - 400 059
- b. Demand of differential duty of Customs of Rs. 1,243.77 lakhs plus interest at the applicable rates thereon under section 28AA of Customs Act, 1962 and redemption fine and penalty of Rs. 2,600 lacs in respect of coal imports in earlier years, the Company has been legally advised that it has the fair chance of success before CESTAT and
- c. Re-possession notice issued by the State Government and demand of lease rent relating to land at Sahupuram Works for which the assignment deeds are still to be executed, the Hon'ble Madras High Court, Madurai Bench vide Order dt 26.2.2024 has set aside the order of the State Government directing repossession of the land and demand of lease rent and remanded back for fresh consideration. The High Court has also given direction to the revenue authorities to fix the land cost, within 6 months from the date of Order, depending upon the market value of the land as on the date of the Order. The determination of cost of land by the revenue authorities is pending. The company does not expect the outflow of resources to be material.
- d. Demand of Rs 669.29 lakhs raised by the income tax authorities and orders issued by the Income Tax authorities which have the effect of reducing the MAT credit available by Rs 2893.15 lakhs for various AYs starting from AY 2015-16 to AY 2024-25 consequent to search carried out in the month of November 2023. The company has been advised by its Tax expert that the above Tax demands/ the denial of MAT credit under the above referred orders are not tenable in law. The Company is pursuing appeals against the above said orders and the penalty notices under the applicable laws.
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 these matters.
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.
,,.. *·· l~ / . ! '!.·!J ' ,r .. 1__ '•J'·'~-- ---: ·'-'. ~... ~ :-:) ,,c,.,_;;_, / ""'---~
CA V. Sankar Aiyar & Co.
IND I A CHARTERED ACCOUNTANTS Mumbai - 400 059
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:
- 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 that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal 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.
- 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.
- 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.
- 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 t hat we identify during our audit.
- We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all ,-:,}~~;%~:-:- relationships and other matters that may reasonably be thought to bear on our independence, and /{~'r-,~~t;'.: here applicable, related safeguards.
CHARTERED ACCOUNTANTS Mumbai - 400 0S9
Other Matters
The figures of the last quarter in each of the financial years are balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the respective financial years.
ForV. SANKARAIYAR & CO. Chartered Accountants ICAI Regn. No.109208W
Asha Patel Partner M. No.166048 UDIN: :2.5\b(,D-1-'i!BIV\KNOA'l..\'Ll
Place: Mumbai Date: 12-05-2025
| STATEMENT OF AUDITED FINANCIAL RES UL TS FOR THE QUARTER AND YEAR ENDED, 31 sr MARCH 2025 | ||||||
|---|---|---|---|---|---|---|
| QUARTER ENDED | YEAR ENDED | |||||
| PARTICULARS | 31.03.2025 | 31.12.2024 | 31.03.2024 | 31.03.2025 | 31.03.2024 | |
| Audited | Unaudited | Audited | Audited | Audited | ||
| (Refer Note 12) | (Refer Note 12) | |||||
| INCOME: | ||||||
| 2 | 1 Revenue from Operations Other income |
53,790.73 | 47,417.46 | 62,168.79 | 2,00,034.33 | 1,87, 158.98 |
| 3 | TOTAL INCOME | 590.31 54,381.04 |
478.25 | 555.97 | 2,308.64 | 1,825.28 |
| 4 | EXPENSES: | 47,895.71 | 62,724.76 | 2,02,342.97 | 1,88,984.26 | |
| a. Cost of materials consumed | 26,418.83 | 26,282.85 | 26,348.48 | 1, 10,868.99 | ||
| b. Purchase of stock-in-trade | 24.47 | 101.75 | 248.89 | 1,820.65 | 1,03,803. 73 250.38 |
|
| c. Changes in inventories of finished goods | 5,568.07 | (2,504.44) | 10,483.27 | (3,900.91) | (5,497.88) | |
| d. Employee benefits expense | 3,131.04 | 4,283.10 | 3,734.74 | 16,112.18 | 15,172.38 | |
| e. Finance costs | 1,576.64 | 1,623.42 | 1,991.68 | 6,724.33 | 7,350.73 | |
| f. Depreciation | 2,524.34 | 2,529.00 | 2,444.36 | 9,992.71 | 9,379.24 | |
| g. Other Expenses: | ||||||
| Power and Fuel | 6,564.82 | 7,982.25 | 8,145.16 | 31 ,252.82 | 33,733.78 | |
| Other expenses | 6,497.98 | 5,572.98 | 6,866.98 | 24,535.90 | 22,142.52 | |
| 5 | TOTAL EXPENSES | 52,306.19 | 45,870.91 | 60,263.56 | 1,97,406.67 | 1,86,334.88 |
| 6 | Profit/ (Loss) before exceptional items and tax | 2,074.85 | 2,024.80 | 2,461.20 | 4,936.30 | 2,649.38 |
| 7 | Exceptional items (Refer Note 3) | - | - | (4.65) | - | (115.21) |
| 8 | Profit/ (Loss) before tax | 2,074.85 | 2,024.80 | 2,456.55 | 4,936.30 | 2,534.17 |
| Tax Expense: | ||||||
| a. Current tax | 362.47 | 354.00 | 429.00 | 862.47 | 443.00 | |
| b. Deferred tax | 574.47 | 328.49 | 494.33 | 1,045.42 | 525.21 | |
| 9 | TOTAL TAX EXPENSE 10 Net Profit/ (Loss) for the period |
936.94 | 682.49 | 923.33 | 1,907.89 | 968.21 |
| 1,137.91 | 1,342.31 | 1,533.22 | 3,028.41 | 1,565.96 | ||
| 11 Other Comprehensive Income | ||||||
| A i) Items that will not be reclassified to profit or loss | (87.52) | - | (28.09) | (87.52) | (28.09) | |
| Actuarial gain/ (loss) on employee defined benefit fund | ||||||
| recognised in Other Comprehensive Income | ||||||
| ii) Income tax relating to items that will not | 30.58 | - | 9.82 | 30.58 | 9.82 | |
| be reclassified to profit or loss | ||||||
| B i) Items that will be reclassified to profit or loss | - | - | - | - | - | |
| ii) Income tax relating to items that will be reclassified | - | - | - | - | - | |
| to profit or loss | ||||||
| Total Other Comprehensive Income | (56.94) | - | (18.27) | (56.94) | (18.27) | |
| 12 | Total Comprehensive Income | 1,080.97 | 1,342.31 | 1,514.95 | 2,971 .47 | 1,547.69 |
| 13 | Paid-up equity share capital (Face value of Rs. 21- each) | 5,903.10 | 5,903.10 | 5,903.10 | 5,903.10 | 5,903.10 |
| 14 | Earnings per share (in Rs.) | |||||
| Basic | 0.39 | 0.45 | 0.52 | 1.03 | 0.53 | |
| Diluted | 0.39 | 0.45 | 0.52 | 1.03 | 0.53 | |
| * Not annualised | * | ,.---, (A°"] |
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL • 4957 3000. 4957 3001 REGISTERED OFFICE· DHRANGADHRA- 363 315 (GUJRAT STATE) Email ho@dcwltd com. Website· www.dcwltd.com. CIN-L2411 0GJ 1939PLC0007 48
(Rs. In lakhs)
AUDITED SEGMENT REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND YEAR ENDED, 31 sr MARCH, 2025
| QUARTER ENDED | YEAR ENDED | |||||
|---|---|---|---|---|---|---|
| PARTICULARS | 31.03.2025 31.12.2024 |
31.03.2024 | 31.03.2025 | 31.03.2024 | ||
| Audited (Refer Note 12) |
Unaudited | Audited (Refer Note 12) |
Audited | Audited | ||
| i | Segment Revenue: (Gross Income) | |||||
| a. Basic Chemicals | 41 ,075.28 | 34,886.60 | 48,996.91 | 1,46,311.24 | 1,48, 841.57 | |
| b. Speciality Chemicals | 12,493.91 | 12,338.39 | 12,931.17 | 52,567.31 | 36,814.50 | |
| c. Others | 221 .54 | 192.47 | 240.71 | 1,155.78 | 1,502.91 | |
| Gross Revenue from operation | 53,790.73 | 47,417.46 | 62,168.79 | 2,00,034.33 | 1,87,158.98 | |
| ii Segment Results : (Profit before Interest, Tax & Exceptional Items) | ||||||
| a. Basic Chemicals | 109.05 | (15.99) | 880.99 | (3,280.85) | (214.04) | |
| b. Speciality Chemicals | 3,525.88 | 3,679.94 | 3,558.14 | 14,629.63 | 9,505.77 | |
| c. Others | 16.56 | (15. 73) | 13.75 | 311.85 | 708.38 | |
| Total : | 3,651.49 | 3,648.22 | 4,452.88 | 11,660.63 | 10,000.1 1 | |
| Less : Interest | 1,576.64 | 1,623.42 | 1,991.68 | 6,724.33 | 7,350.73 | |
| Add Exceptional Items |
- | - | (4.65) | - | (115.21) | |
| TOTAL PROFIT BEFORE TAX | 2,074.85 | 2,024.80 | 2,456.55 | 4,936.30 | 2,534.17 | |
| iii Capital Employed (Segment Assets) | ||||||
| a. Basic Chemicals | 1,09,731.68 | 1, 14,934.00 | 1,07,869.56 | 1,09,731.68 | 1,07,869.56 | |
| b. Speciality Chemicals | 79,242.07 | 78,491 .14 | 76,151.02 | 79,242.07 | 76,151.02 | |
| c. Others | 27,880.71 | 34,405.28 | 23,903.01 | 27,880.71 | 23,903.01 | |
| Total : | 2, 16,854.46 | 2,27,830.42 | 2,07,923.59 | 2, 16,854.46 | 2,07,923.59 | |
| iii Capital Employed (Segment Liabilities) | ||||||
| a. Basic Chemicals | 48,183.66 | 46,607.15 | 42,051.46 | 48,183.66 | 42,051.46 | |
| b. Speciality Chemicals | 6,799.34 | 10,466.45 | 6,130.97 | 6,799.34 | 6,130.97 | |
| c. Others | 8,100.54 | 15,329.27 | 5,574.22 | 8,100.54 | 5,574.22 | |
| Total : | 63,083.54 | 72,402.87 | 53,756.65 | 63,083.54 | 53,756.65 |
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL • 4957 3000. 4957 3001 REGISTERED OFFICE · DHRANGADHRA- 363 315 (GUJRAT STATE) Email ho@dcwltd com. Website: www.dcwltd.com. CIN-L2411 0GJ 1939PLC0007 48
LIMITED - AUDITED STATEMENT OF ASSETS & LIABILITIES : (Rs. In lakhs) As At Particulars 31.03.2025 31.03.2024 Audited Audited ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 1,26,084.03 1,30,052.83 (b) Capital work in progress 5,634.15 4,103.87 ( c) Right - of - use Assets 946.66 1,099.04 (d) Financial Assets (i) Investments 1,954.36 1,954.36 (ii) Other Financial Assets 1,749.61 1,331 .20 (e) Non Current Tax Assets (Net) 944.05 930.80 (f) Other Non-Current Assets 1,071.78 316.04 Total - Non current assets 1,38,384.64 1,39,788.14 2 Current assets (a) Inventories 42,758.30 37,653.76 (b) Financial Assets i) Investments 698.80 15.75 ii) Trade Receivables 9,851.91 11,420.29 iii) Cash & Cash Equivalents 1,130.82 1,072.1 6 iv) Bank Balances Other than above 20,378.36 15,873.61 v) Loans 77.76 133. 71 (c) Other Current assets 4,517.95 2,896.98 Total - Current assets 79,413.90 69,066.26 TOT AL ASSETS 2,17,798.54 2,08,854.40 EQUITY AND LIABILITIES A. Equity (a) Equity Share Capital 5,903.10 5,903.10 (b) Other Equity 97,366.05 97,268.73 Total - Equity 1,03,269.1 5 1,03, 171.83 B. Liabilities 1. Non - Current liabilities (a) Financial Liabilities: Borrowings 21,764.86 28,170.76 Lease Liabilities 61.25 125.66 Other Financial Liabilities 2,000.00 2,000.00 (b} Provisions 1,659.97 2,297.76 (c) Deferred Tax Liabilities (net) 14,848.24 10,959.25 (d) Other Non Current liabilities 702.38 771.66 Total - Non Current liabilities 41,036.70 44,325.09 2. Current liabilities (a) Financial Liabilities Borrowings 20,810.67 15,465.88 Lease Liabilities 84.55 134.58 Trade payables 38,430.26 33,658.90 Other Financial liabilities 6,287.35 5,027.23 (b) Provisions 1,016.33 1,153.51 ,~ (c) Other Current liabilities 6,863.53 5,917.38 Total - Current liabilities 73,492.69 61,357.48 ~ ~ s- DTOTAL- EQUITY AND LIABILITIES 2,17,798.54 2,08,854.40 C, . :•::-._i-;Al:;,!1: . D
DCW LIMITED
HEAD OFFICE • "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL • 4957 3000. 4957 3001 REGISTERED OFFICE· DHR.A.NGADHRA- 363 315 (GUJRAT STATE) Email ho@dcwltd com. Website www.dcwltd.com. CIN-L24110GJ1939PLC000748
CASH FLOW STATEMENT FOR THE YEAR ENDED 315T MARCH, 2025 (Rs. In lakhs)
8f
·DCl,i;~ ~CJ C. • ";/j8A\•
| For the year ended | |||||
|---|---|---|---|---|---|
| Particulars | 31.03.2025 | 31.03.2024 | |||
| A.Cash flow from Operating Activities | |||||
| Net profit before tax | 4,936.30 | 2,534.17 | |||
| Add: | |||||
| Depreciation and amortisation expense | 9,992.71 | 9,379.24 | |||
| Unrealized Exchange Loss / (Gain) | 85.40 | 10.25 | |||
| Finance Costs | 6,724.33 | 7,350.73 | |||
| Interest income | (1,304.93) | (1 ,1 49.04) | |||
| (Gain) on fair valuation/ sale of Investments (Net) | (82.60) | (29. 73) | |||
| (Profit)/ Loss on Sale of property, plant and equipmer | 42.55 | 98.57 | |||
| Income recognized against Capital Grant | (69.28) | (69.27) | |||
| Provisions made/(written back) during current year | (862.49) | 361 .24 | |||
| Balances written off/ (back) - Net | (124.93) | 14,400.76 | (45.40) | 15,906.59 | |
| Operating profit before working capital changes | 19,337.06 | 18,440.76 | |||
| Adjustments for : Working Capital | |||||
| Trade receivables & other current assets | (1,185.60) | 3,283.12 | |||
| Loans | 55.95 | (1 1.37) | |||
| Inventories | (5,104.54) | (3,191.51) | |||
| Trade and other payables | 6,848.18 | 613.99 | 7,964.00 | 8,044.24 | |
| Cash generation from operations | 19,951.05 | 26,485.00 | |||
| Direct taxes paid (Net off Refund) | (875.72) | (1,275.86) | |||
| Net cash flow from operating activities | 19,075.33 | 25,209.14 | |||
| B. Cash flow from Investing Activities | |||||
| Investment in Equity shares | - | (1,953.50) | |||
| Payment for Acquisition of Property, Plant & Equipment | (7,648.30) | (9,359.62) | |||
| Proceeds from Sale of Property, Plant & Equipment Investment in Fixed Deposit with Banks |
227.57 | 312.73 | |||
| Short Term Investments (Net) | (4,504.75) (600.45) |
(25.45) | |||
| Interest income | 1,304.93 | 13.98 1,149.04 |
|||
| Net cash used in investing activities | (11,221.00) | (9,862.82) | |||
| C. Cash flow from Financing Activities | |||||
| Proceeds from Long-Term Borrowings | 8,328.94 | 2,534.78 | |||
| Repayment of Long Term Borrowings (term loans) | (12,841.04) | (12,424.31) | |||
| Short Term Borrowings (Net) | 3,307.94 | 2,669.98 | |||
| Final and Interim Dividend paid | - | (885.47) | |||
| Finance Costs | (6,432.22) | (6,927.03) | |||
| Lease Liability paid | (159.29) | (233.55) | |||
| Net cash used in financing activities | (7,795.67) | (15,265.60) | |||
| Net increase / (Decrease) in Cash and Cash equivalents | 58.66 | 80.72 | |||
| Opening Cash and Cash Equivalents | 1,072.16 | 991.44 | |||
| Closing Cash and Cash Equivalents | 1,130.82 | 1,072.16 | |||
| 58.66 | 80.72 |
The above statement of Cash flow is prepared under Indirect methc
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL • 4957 3000. 4957 3001 REGISTERED OFFICE· DHRANGADHRA- 363 315 (GUJRAT STATE) Erna1! ho@dcwltd com. Website www.dcwltd.com. CIN-L24110GJ1939PLC0CC 7 48
- 1 The above financial results are drawn in accordance with the accounting policies consistently followed by the Company. The results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 1ih May 2025. The statutory auditor of the company has expressed an unmodified opinion on the Financial results.
- 2 The results for the quarter and year ended 31st March 2025 are in compliance with IND-AS as prescribed under section 133 of the Companies Act 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (as amended).
- 3Exceptional items for the quarter & year ended 31st March 2024 represent provision for the loss of stock in the floods at Sahupuram unit after netting off of insurance claim receivable.
4 Segment Reporting:
- During the quarter and year ended 31 st March 2025, the Company has changed the composition of its reportable segments as follows: •Basic Chemicals: This Segment Includes revenue generated from caustic soda, soda ash, PVC and Illuminate products.
- •Speciality Chemicals: This Segment Includes revenue generated from SIOP and CPVC products.
•Others: This shall include any other business activities generating revenue for the Company.
Identifications of Segments:
The Chief Operational Decision Maker (CODM) monitors the operating results of its business segment separately for the purpose of making decision about resource allocation and performance assessment. Segment performance is evaluated based on profit or loss and is measured consistently with profit or loss in the standalone financial statements, Operating segments have been identified on the basis of nature of products and other quantitative criteria specified in the Ind AS 108.
Segment revenue and results:
The expenses and income which are not directly attributable to any business segment are shown as un-allocable expenditure & income.
Segment Assets and Liabilities:
Segment assets include all operating assets used by the operating segment and mainly consist of property, plant and equipment, trade receivables, inventory and other operating assets. Segment liabilities primarily include trade payable and other liabilities.
Common assets and liabilities which cannot be allocated to any of the business segment are shown as un-allocable assets/ liabilities. The accounting principles used in the preparation of the financial results are consistently applied to record revenue and expenditure in individual sei:iments.
Consequent to the change in the composition of reportable segments, the corresponding items of segment information for earlier periods have been restated.
- 5 The Company holds 28.96% in Kaze Renewables Private Limited (KRPL) as at 31st March 2025. By virtue of the said investment in KRPL, it is deemed to be an associate company in terms of Section 2(6) of the Companies Act, 2013. However, since the company does not exercise significant influence or control on decisions of the investee, KRPL is not construed as an associate company in terms of the Indian Accounting Standard (Ind AS) 28 on Investments in Associates and Joint Ventures. Therefore, the preparation of consolidated financial results is not required.
- 6 The company entered into power purchase agreement with Kaze Renewables Private Limited (KRPL) for purchase of power. The company is entitled to liquidated damages as per the said agreement. Accordingly, the company has accounted for the same during the year by crediting the profit and loss account.
- 7 Consequent to the withdrawal of the indexation benefit on long-term capital gains (L TCG) on immovable properties (which were fair valued at the first time adoption of Ind AS) purchased prior to 23rd July 2024, the company has assessed the impact of the same and accounted for the deferred tax liability to the extent of Rs. 287 4.15 lakhs by debiting the retained earnings as adjustment during the current year in compliance with Ind AS 12- "Income Taxes".
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL.: 4957 3000, 4957 3001 REGISTERED OFFICE: DHRANGADHRA- 363 315 (GUJRAT STATE) Email ho@dcwltd com. Website: www.dcwltd.com CIN-L24110GJ1939PLC000748
8
- A. In the matter of Tamil Nadu Electricity Tax demand of Rs. 5,491.45 lakhs in respect of captive power generated at Sahupuram unit for the period 2003 to 2020, 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. 1,243.77 lakhs plus interest at the applicable rates thereon under section 28AA of Customs Act, 1962 and redemption fine and penalty of Rs . 2,600 lacs 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 to land at Sahupuram works for which the assignment deeds are still to be executed, the Hon'ble Madras High Court, Madurai Bench vide Order dt 26.2.2024 has set aside the order of the State Government and remanded back for fresh consideration. The High Court has also given direction to the revenue authorities to fix the land cost, within 6 months from the date of Order, depending upon the market value of the land as on the date of the Order and considering the fact that the company has made huge investments in the said lands believing the words of the Government in G.O. Ms. No.76 Revenue Department dt. 7.1.1959. The company is hopeful of getting the ownership of the land transferred in its name as per Sec.53A of the Transfer of Property Act. Accordingly, the said land is continued to be treated as "freehold". The determination of cost of land by the revenue authorities is pending. The company does not expect the outflow of resources to be material.
- D. The Income-Tax authorities ('the department') had conducted search activity during the month of November 2023 at some of the premises, plants and residences of few of the directors and employees of the Company. Consequent to the aforesaid search, The Income Tax Authorities have passed orders under Section 143 (3) read with Section 147 of the Income Tax Act, 1961 for 10 assessments years starting A.Y. 2015-16 to A.Y. 2024-25.
The Income Tax Authorities have raised demand of Rs. 669.29 Lakhs on account of various disallowances/ additions under Income Tax Act, 1961.
The orders issued by the Income Tax Authorities also have the effect of reducing the MAT credit available with the company by an amount aggregating to Rs. 2893.15 Lakhs for the block period of 10 years ending A.Y. 2024-25. Further, the notices for initiation of penalty have been issued by the Income Tax Authorities.
The company has been advised by its Tax expert that the above Tax demands/ the denial of MAT credit under the above referred orders are not tenable in law. The Company is pursuing appeals against the above said orders and the penalty notices under the applicable laws. •
- 9 Section 115BAA in the Income Tax Act 1961 ("Act") provides a non-reversible option to domestic companies to pay corporate tax at a reduced rate effective from 1 st April 2019 subject to certain conditions. The company has assessed the applicability of the Act and opted to continue the existing normal tax rate for the quarter and year ended 31st March 2025.
- 10 The Deferred Tax provision is net off MAT Credit available for carry forward.
- 11 The Board in its meeting held on 13th February 2025 has considered and approved the Scheme of Amalgamation under Section 232 read with Section 230 and 66 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013 ("The Act") and Rules & Regulations framed thereunder between Dhrangadhara Trading Company Private Limited ("Transferor Company 1" or "DTCPL") and Sahu Brothers Private Limited ("Transferor Company 2" or "SBPL") and DCW Limited ("Transferee Company" or "DCW") and their respective shareholders (the "Scheme"), which inter alia provides for amalgamation of the Transferor Companies with the Transferee Company on a going concern basis and in consideration thereof, DCW will issue 12,80,500 fully paid equity shares of INR 2/- each to the Equity Shareholders of DTCPL in proportion to their holdings in DTCPL and 5,24,59,860 fully paid equity shares of INR 2/- each to the Equity Shareholders of SBPL in proportion to their holdings in SBPL, in lieu of the same number of equity shares namely 12,80,500 and 5,24,59,860 respectively, held by the said transferor companies in DCW before amalgamation. The Scheme is subject to receipt of approval from the statutory, regulatory and customary approvals, including approvals from Stock Exchanges, National Company Law Tribunal and the shareholders of the companies involved in the Scheme and the company is in th~oc~f seeking the same. \ ~
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL 4957 3000. 4957 3001 REGISTERED OFFICE · DHRANGADHRA- 363 315 {GUJRAT STATE) Email ho@dcwltd com. Website· www.dcwltd.com. CIN-L2411 0GJ 1939PLC0007 48
- 12 Board of Directors at their meeting held on 12'h May 2025 have declared final dividend of Rs.0.10 per equity share of Rs. 2/- each i.e. 5% on paid up equity share capital of the Company for the financial year 2024-25 which is subject to approval by the shareholders of the Company.
- 13 The figures of the last quarter in each of the fianncial years are balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the 3rd quarter of the respective financial years. The figures for the corresponding previous periods have been restated/ regrouped wherever necessary, to make them comparable with current period.
For and on behalf of the Board of Directors
Bakul Jain Chairman & Managing Director DIN: 00380256
DCW LIMITED - Manufacturers of CHEMICALS THAT MAKE INDUSTRIES HUM Visit us at : www.dcwltd.com
Place : Mumbai Dated : 12'h May, 2025
DCW LIMITED
HEAD OFFICE : "NIRMAL" 3RD FLOOR, NARIMAN POINT, MUMBAl-400 021 TEL • 4957 3000. 4957 3001 REGISTERED OFFICE· OHRANGADHRA- 363 315 (GUJRAT STATE) Email ho@dcwltd corn. Website· www.dcwltd.com. CIN-L24110GJ1939PLC000748