Deccan Cements Ltd. — Interim / Quarterly Report 2021

Nov 12, 2021

DECCAN CEMENTS LIMITED

CIN : L26942TG1979PLC002500 REGD OFFICE: 6-3-666/B, "DECCAN CHAMBERS", SOMAJIGUDA, HYDERABAD - 500 082. PHONE : +91 (40) 23310168, 23310552, +91 (40) 23310561, 23310599 FAX: +91 (40) 23318366 E-MAIL: info@deccancements.com WEBSITE : www.deccancements.com

DCL:SECY:2021 Date: 12.11.2021

BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001 Scrip Code: 502137

National Stock Exchange of India Limited Listing Department Exchange Plaza, Plot No. C/1, G Block Bandra-Kurla Complex, Bandra (East) Mumbai - 400 051 Trading Symbol: DECCANCE

Dear Sir,

Sub: Unaudited Financial Results for the Quarter ended 30th September 2021.

Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Unaudited Financial Results of the Company for the Quarter ended 30th September 2021 approved by the Audit Committee and the Board of Directors of the Company, at their respective meetings held today.

Further, the Statutory Auditors of the Company issued Limited Review Report on the unaudited Financial Results for the quarter ended 30th September 2021, which is also considered and approved by the Audit Committee and the Board of Directors of the Company, at their respective meetings held today. .

Thank you,

With Regards,

For DECCAN CEMENTS LIMITED

sfk!:::::ruSIY Company Secretary

Enclosure: as stated above.

DECCAN CEMENTS LIMITED
CIN:L26942TG1979PLC002500
Regd. Office:"Deccan Chambers", 6-3-666/B, Somajiguda, Hyderabad - 500 082
Ph: 040-23310168;Fax: 040-23318366;Email: info@deccancements.com;Website: www.deccancements.com
Statementof UnauditedFinancial Results for the Quarter and Half Year ended 30 September2021
	(Rs. in Lakhs except per share data)
S.No.	Particulars	Quarter ended		Half year ended		Year ended
		30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
I	Revenue from operations	19,088.35	22,423.63	19,805.68	41,511.98	33,666.92	75,795.18
11	Other income	185.44	265.37	233.64	450.81	447.62	1,010.58
III	Total Income (I + 11)	19,273.79	22,689.00	20,039.32	41,962.79	34,114.54	76,805.76
IV	Expenses
	(a) Cost of materials consumed	2,002.09	2,190.04	1,639.18	4,192.13	2,641.20	6,819.61
	(b) Changes in inventoriesof finished goods and work-in-progress	(646.95)	51.69	656.00	(595.26)	928.12	567.56
	(c) Employee benefits expense	889.54	934.98	836.86	1,824.52	1,594.62	3,320.79
	(d) Finance costs	250.08	220.38	137.13	470.46	281.01	742.60
	(e) Depreciationand amortisationexpense	674.32	637.33	563.11	l,311.6S	1,117.86	2,317.09
	(f) Power and fuel	5,552.11	5,724.19	5,290.98	11,276.30	9,066.86	21,229.39
	(g) Freight charges	4,094.27	4,854.11	4,193.73	8,948.38	6,837.56	15,428.00
	(h) Other expenses	3,331.08	3,130.25	2,193.39	6,461.33	3,610.52	10,844.69
	Total expenses (IV)	16,146.54	17,742.97	15,510.38	33,889.51	26,077.75	61,269.73
V	Profit/(Loss)before exceptionalitems and tax (Ill-IV)	3,127.25	4,946.03	4,528.94	8,073.28	8,036.79	15,536.03
VI	Exceptional items	-	-	-
VII	Profit/(Loss)before tax (V - VI)	3,127.25	4,946.03	4,528.94	8,073.28	8,036.79	15,536.03
VIII	Tax Expense
	Current Tax	767.64	1,223.43	1,158.09	1,991.07	2,050.15	3,850.66
	Earlier year tax	-		-			39.76
	Deferred Tax	25.65	39.27	(12.98)	64.92	(9.03)	132.86
IX	Profit/(Loss)for the period (VII - VIII)	2,333.96	3,683.33	3,383.83	6,017.29	5,995.67	11,512.75
X	Other ComprehensiveIncome (net of tax)
	Items that will not be reclassified to profit or loss
	Remeasurementof defined benefit plans	-	-	-		-	(5.00)
XI	Income for the period (IX + X)Total Comprehensive	2,333.96	3,683.33	3,383.83	6,017.29	5,995.67	11,507.75
XII	Paid-up Equity Share capital	700.38	700.38	700.38	700.38	700.38	700.38
XIII	Earning Per Share (Face Value of Rs.5/- each)~
	(a) Basic	16.66	26.30	24.16	42.96	42.80	82.19
	(b) Diluted	16.66	26.30	24.16	42.96	42.80	82.19

Notes:

2

1 The above results for the quarter and half year ended 30th September 2021 were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 12th November 2021. The Statutory Auditors have carried out a limited review of the aforesaid financial results.

This statement is as per Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

3 The Company has one reportable segment "Manufacturing and Selling of Cement" as perthe requirements of Ind AS 108 "Operating Segments".

4 Comparative figures have been regrouped/reclassified to conform to the current period's/year's classlficatlon.

Place: Hyderabad

Date : 12 November, 2021

For Deccan Cements Limited

f·PC4r~ P. Parvathi

Managing Director

DECCAN CEMENTS LIMITED
CIN: L26942TG1979PLC002500
Regd. Office: "Deccan Chambers", 6-3-666/B, Somajiguda, Hyderabad - 500 082
Ph: 040-23310168; Fax: 040-23318366; Email: info@deccancements.com
Website: www.deccancements.com
Statement of Assets and Liabilities
		(Rs. in Lakhs)
	As at	As at
Particulars	30.09.2021	31.03.2021
	(Unaudited)	(Audited)
ASSETS
Non current assets
(a) Property, plant and equipment	41,804.04	42,792.71
(b) Right-of-use assets	6.60	10.81
(c) Capital work-in-progress(d) Investment properties	2,039.19	926.51
(e) Intangible assets	101.82	101.82
(f) Intangible assets under development	1,893.06	1,709.08230.71
(g) Financial assets
Investments	16.71	14.08
Other financial assets	74.81	228.27
(h) Other non-current assets	4,888.99	2,381.05
Total non-current assets	50,825.22	48,395.04
Current assets
(a) Inventories	8,188.19	6,893.12
(b) Financial assets
(i) Trade receivables	6,593.52	2,511.54
(ii) Cash and cash equivalents	26,547.38	25,912.82
(iii) Bank balances other than (ii) above	271.28	43.86
(iv) Loans	8.58	8.81
(v) Other financial assets	479.10	461.95
(c) Current tax assets (net)	127.24	67.41
(d) Other current assets	3,582.75	1,853.46
Total current assets	45,798.04	37,752.97
Total Assets	96,623.26	86,148.01
EQUITY AND LIABILITIES
Equity
(a) Equity share capital	700.38	700.38
(b) Other equity	61,114.32	55,797.41
Total equity	61,814.69	56,497.79
Liabilities
Non current liabilities
(a) Financial liabilities
(i) Borrowings	4,389.97	5,176.35
(ii) Lease liabilities		2.57
(b) Provisions	564.05	524.15
(c) Deferred tax liabilities (net)	5,107.90	5,042.98
(d) Other non-current liabilities	37.35	58.97
Total non-current liabilities	10,099.27	10,805.02
Current liabilities
(a) Financial liabilities
(i) Borrowings	7,824.76	4,933.30
(ii) Trade payables
(A) Total outstanding dues of micro enterprises and	46.69
small enterprises		89.43
(B) Total outstanding dues of creditors other than	5,816.04	4,318.38
micro enterprises and small enterprises
(iii) Lease liabilities	6.88	8.63
(iv) Other financial liabilities	7,857.14	7,299.32
(b) Other current liabilities	2,399.04	1,700.34
(c) Provisions	165.77	165.77
(d) Current tax liabilities (net)	592.97	330.03
Total liabilities	24,709.29	18,845.20
Total equity and liabilities	96,623.26	86,148.01
	For Deccan Cements Limited
Place: HyderabadDate: 12 November, 2021	P. ParvathiManaging Director

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DECCAN CEMENTS LIMITED

CIN:L26942TG1979PLC002500

Regd. Office: "Deccan Chambers", 6-3-666/B, Somajiguda, Hyderabad - 500 082 Ph: 040-23310168; Fax: 040-23318366; Email: info@deccancements.com

Website: www.deccancements.com

UNAUDITED CASH FLOW STATEMENT FORTHE HALF YEAR ENDED 30 SEPTEMBER 2021

		(Rs. in Lakhs)
Particulars	Half year ended	Year ended
	30 September2021	31 March 2021
	(Unaudited)	(Audited)
Cash flow from operatingactivities
Profit before tax	8,073.28	15,536.03
Adjustmentsfor:
Depreciationand amortisationexpense	1,311.65	2,317.09
Net gain on disposal of property,plant and equipment	-	(0.04)
Net gain on disposal of investmentproperty	-	(47.65)
Amortisationof revenue grant	(21.63)	(62.78)
Interest income on deposits and others	(382.95)	(847.03)
Rental income	(0.75)	(4.46)
Dividend income	(0.03)	(0.18)
Provision for bad and doubtfuldebts	-	4.01
Finance costs	470.46	742.60
Net gain on fair value changes of investment	(2.63)	(5.95)
Operating Profit before working capital changes	9,447.40	17,631.64
Change in operatingassets and liabilities
(Increase)/Decreasein trade receivables	(4,081.98)	2,262.76
(Increase )/Decrease in financial assets other than trade receivables	(90.88)	(82.82)
(Increase)/Decreasein other assets	(2,120.14)	161.77
(Increase)/Decreasein inventories	(1,295.07)	(193.36)
Increase/(Decrease)in trade payables	1,454.92	2,115.33
Increase/(Decrease)in other financial liabilities	499.31	702.87
Increase/(Decrease)in provisions	37.64	68.03
Increase/(Decrease)in other liabilities	698.71	408.91
Cash Generated from Operations	4,549.91	23,075.13
Income taxes paid	(1,400.00)	(3,500.00)
Net Cash generated from operatingactivities	3,149.91	19,575.13
Cash flows from investing activities
Purchase ot property,plant and equipment	(238.29)	(9,214.74)
Increase in intangibleassets	(264.46)	-
Increase in capital work-in-progress	(1,112.68)	5,055.71
Increase in intangibleassets under development	230.71	(43.45)
(Increase) / decrease in Capital Advances	(2,505.05)	(1,215.34)
Proceeds from sale of property,plant and equipment	-	0.05
Proceeds from sale of InvestmentProperty	-	140.85
Interest income on deposits and others	382.95	847.03
Dividend income	0.03	0.18
Rental income	0.75	4.46
Net Cash flows from (used in) investing activities	(3,506.04)	(4,425.25)
Cash flow from financing activities
Proceeds / ( Repayment)from non-currentborrowings	(813.82)	(1,582.18)
Proceeds /(Repayment)of non-currentborrowings	2,891.46	1,334.73
Dividend paid	(700.38)	-
Finance costs	(386.44)	(595.26)
Payment of lease liabilities	(0.13)	(17.92)
Net Cash flows from (used in) financing activities	990.69	(860.63)
Net increase (decrease) in cash and cash equivalents	634.56	14,289.25
Cash and Cash equivalentsat the beginning of the year	25,912.82	11,623.57
Cash and Cash equivalentsat the end of the year/HalfYear	26,547.38	25,912.82
	For Deccan Cements Limited
p.f&~
Place:Hyderabad
Date : 12 November, 2021	P. ParvathiManaging Director

M.ANANDAM&CO., CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on the Quarterly Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015

Review Report to The Board of Directors Deccan Cements limited

• 1. We have reviewed the accompanying statement of unaudited financial results of Deccan Cements Limited (the "Company") for the quarter ended 30th September, 2021 and year to date results for the period 1 st April, 2021 to 30th September, 2021 (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, and other accounting principles generally accepted in India. Our responsibility is to issue a report 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 requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable accounting standards and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For M. Anandam & Co., Chartered Accountants (Firrn Regn.No.000125S)

Place: Hyderabad Date: 12th November, 2021