Deccan Gold Mines Ltd. — Board/Management Information 2021

Nov 11, 2021

DECCAN GOLD MINES LIMITED (CIN : L51900MH1984PLC034662 )

Corporate Office & Correspondence Address

No. 1285, Sth Main, 7th Sector, HSR Layout, Bengaluru - 560102. Tel . : +91 80 45384000 Fax : +91 80 45384001 Email : info@deccangoldmines.com Website : www.deccangoldmines.com

November 11, 2021

Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai - 400 001

Scrip Code: 512068

Dear Sir / Madam,

Sub: | Proceedings of the Meeting of the Board of Directors held on November 11, 2021 - disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015

With reference to the captioned subject and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that a meeting of the Board of Directors of the Company was held on Thursday, November 11, 2021 via Video Conferencing (commenced at 12 Noon and ended at 2.30 p.m.). .

At the said meeting, the Board of Directors noted that the Company is in the process of obtaining accreditation from the Ministry of Mines, Government of India for undertaking exploration consultancy work. This is expected to generate revenue for the Company in the near future. Further, the Company will also be entering into Agreement (s) with companies in India and overseas for obtaining exploration consultancy work and details will be provided upon execution of Agreement (s).

At the said meeting, the Board of Directors inter-alia approved:

(a) -Unaudited Financial Results (Standalone & Consolidated) for the quarter / half-year ended September 30, 2021 and also took on record the Limited Review Report issued by the Statutory Auditors on the said Unaudited Financial Results (Standalone & Consolidated) for the quarter / half-year ended September 30, 2021.

The said Unaudited Financial Results (Standalone & Consolidated) for the quarter / half-year ended September 30, 2021 and Limited Review Report issued by the Statutory Auditors on the said Unaudited Financial Results are attached.

• (b) convening of the 37" Annual General Meeting of the Company for the financial year ended March 31, 2021 on Wednesday, December 22, 2021.
• (c) raising of funds through a rights issue. The Board further delegated the power to the senior management to decide and finalise on the quantum of funds to be raised keeping in the mind the business requirements. The price and ratio of the rights issue would be announced post the approval of regulatory authorities.

We request the BSE to take the above intimations on record and oblige.

Yours truly | i ab NOW ama

ibramaniam S Company Secretary Membership No.: ACS 12110

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DECCAN GOLD MINES LIMITED

G Block, Bandra Kurla Complex, Bandra(E) Mumbai ~400054 Tel .No,:022-33040797 Fax No.: 022-26532440 CIN No. L51900MH1984PLC034662

		DECCAN GOLD MINES LIMITED
		Regd. Off. : The Parinee Crescenzo, 803, 8th Flr,Opp.MCA Ground C38-C39, G Block, Bandra Kurla Complex, Bandra(E) Mumbai ~400054 Tel .No,:022-33040797 Fax No.: 022-26532440 CIN No. L51900MH1984PLC034662
		info@deccangoldmines.com Website.: www.deccangoldmines.com Email;
		Statement of Unaudited Assets & Liabilities for the half year ended 30th September 2021		{In Millions)		(in Millions)
		Particulars	Consolidated SixMonths ended		Standalone Year ended 31st SixMonths ended	Year ended 3ist
			30th September 2021 (Unaudited)	March 2021 (Audited)	30th September 2021 (Unaudited)	March 2021
ASSETS (1)		Non - current Assets Property, Plant and Equipment				(Audited)
	(2) (b) {c)	Capital work - in « progress Other Intangible Assets	1.072 348.148	1.234 343.357	0.068	0.068
	{d) {e)	Intangible Assets under development Financial assets	- 51.559	0.004 47.980	- 33.644	0.004 32.675
		i) Investments {ii) Loans & Advances	1.299	3.159	447.022 0.767	441.946 2.017
		(iii) Trade Receivables {iv) Other financial assets (iv) Advance against equity
	(f) (2)	Deferred tax assets (Net) Other non - current assets	6.834	6.834	-	3.483
		Total Non-Current assets	408.913	402.568	481,501	480.193,
(2)	(2)	Current Assets Inventories
	(b)	Financial assets (i) Trade receivables	0.156	0.156	1.517	-
		(ii) Cash and cash equivalents (i) Bank balances other than (ii) above (iv) Loans	0.025 0.768	0.035 16.003	0.013 0.155	0.014 2.630
	{c)	(v) Other financial assets Current tax assets (Net)	2.231	1.986	1ai.	m1 1.018
	{d)	Other current assets Total Current assets	36.462 39.642	33.739 51.919	3,755 6.551	3.866 7528
		TOTAL ASSETS,	448.555	454.487	488.052	487,721
		tL EQUITY AND LIABILITIES
EQUITY	(2)	Equity share capital	93.327	93.327
	(ob)	OtHer Equity Total Equity	339.912 433.239,	353.906 447.233	93.327 346.884, 440.211	93.327 359.905 453.232
LIABILITIES
(1)	(2)	Non Current Liabilities Financial Liabilities
		(i) Borrowings (ii) Trade Payables A) Total outstanding dues of micro enterprises and small enterprises;
		B) Total outstanding dues of creditors other than micro enterprises and small enterprises. (iii) Other financial liabilities
	(b) {c)	Provisions Deferred tax liabilities (Net)	3,003	3.003	2.883	2.833
	(d)	Other non-current liabilities
{2)		Total Non-Current Liabilities Current liabilities	3.003	3.003	2,833	2.833
	(a)	Financial Liabilities (i) Borrowings
		(ii) Trade payables A) Total outstanding dues of micro enterprises and small enterprises;
	'	8) Total outstanding dues of creditors other than micro enterprises and small enterprises. (iii) Other financial liabilities	9.560	1.423	8.936
	{b) {c)	Other current liabilities Provisions	2,149	2.149	2.146	1.595 2.146
	{d)	Current tax tiabilities (Net)	0.604	0.679	33.926	27.915
		Total Current Liabilities TOTAL EQUITY AND LIABILITES	12.313 448.555	4,251 454.487	45.008 488.052	31.656 487,721
					For and on behalf of Board of Directors
				Foy\Deccan Gold Mines Limited
				A a	me Qw Que
Place: Bengaluru		Date: 11th November, 2022		'Subramaniam Executive Director
				DIN: 06389138

DECCAN GOLD MINES LIMITED

Cash Flow Statement for the half year ended 30th September 2021

		DECCAN GOLD MINES LIMITED
	Regd. Off. : The Parinee Crescenzo, 803, 8th Flr,Opp.MCA Ground €38-C39, G Block, Bandra Kurla Complex, fel .No.:022-33040797 Fax No.: 022-26532440 CIN No. L51900MH1! Cash Flow Statement for	984PLC034662 Email.: info@deccangoldmines.com Website.: www.deccangoldmines.com the half year ended 30th September 2021		Bandra(E) Mumbai -400051
	i.	Consolidated		Standalone	(Rs in Million)
		Half Year Ended 30th Half Year Ended 30th September 2021	September 2020	Half Year Ended 30th September 2021	Half Year Ended 30th September
	A CASH FLOW FROM OPERATING ACTIVITIES	(14.086)	(18.841)		2020
	Net Profit / (Loss) before Tax and after Extraordinary items Adjustment For :			(13.021)	(17.073)
	Depreciation Provisions for gratuity Interest & Finance charges	0.166 0.024	0.475 - 0.001	0.004 =	0.006 =
	Interest received Exchange differences on translation of assets and liabilities Expenseson Employee Stock Option	(0.089) 0.079	(0.042)	1.455 -	0.001 (0.035)
	Operative Profit before Working Capital Changes Adjustment For :	(13.906)	(18.407)	(11.562)	(17.101)
	Trade Receivables Other Receivables, Loans & Advances Trade & Other payable	(0.864) 8.064	5.576 15.112	(1.517) 0.111 13.352	(1.229) 6.034 12.658
	Cash Generation from Operations Direct Taxes Net Cash Flow from operating activities	(6.706) (0.233) (6.939)	2.281 0.629 2.910	0.384 (0.09) 0.291	0.362 0.473 0.835
B_	CASH FLOW FROM INVESTING ACTIVITIES Purchase of Fixed Assets and Advances
	Increasé in Intangible Assets under development Increase in Capital Work In Progress	(3.579) (4.792)	(3.693) (2.889)	1.250 (0.968)	(3.693) -
	Purchase/Sale of Investment (Net) Dividend received Interest Received	0.089	0.039		0.036
C_	Net Cash used in investing activities CASH FLOW FROM FINANCING ACTIVITIES	(8.282)	(6.543)	0.282	(3.657)
	Proceeds from Share Issue Investment In Equity (advance against equity) Share Application Money Received			(5.076) 3.483 -
	Finance charges & Others Net Cash used in financing activities	(0.024) (0.024)	(0.001) (0.001)	(1.455) (3.048)	(0.001) (0.001)
	D_ Net Change In Cash And Cash Equilants (A+B+C) Cash and Cash Equivalents (Opening)	(15.245) 16.039	(3.634) 4.895	(2.475) 2.644	(2.823) 3.133
	Cash and Cash Equivalents (Closing)	0.794	1.261	0.169	0.310
	Place: Bengaluru		can Gold Mines Limited Fér Qe" Bec ab A	Quam

DIN: 06389138

P R AGARWAL & AWASTHI

CHARTERED ACCOUNTANTS

REGD. OFFICE : 42, GOPAL BHAVAN, 199, PRINCESS STREET, MUMBAI - 400 002. PHONE : 220 93908 * FAX : 022-220 89133 * E-mail : info@pawanca.com URL : www.pawanca.com

Independent Auditors' Review Report on Quarterly Unaudited Standalone Financial Results of Deccan Gold Mines Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Deccan Gold Mines Limited

We have reviewed the accompanying Statement of Unaudited Financial Results of Deccan Gold Mines Limited ("the Company") for the quarter ended September 30, 2021 and the year to date results for the period from 1 April ²⁰²¹ to 30 September 2021("the Statement") attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 as amended ('the Listing Regulation').

This Statement which is the responsibility of the Company's Management and approved by the Board of Directors has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedure applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

Based causes on our review conducted as above, nothing has come to our attention that us to believe that the accompanying statement of Unaudited Financial Results prepared in accordance with applicable Indian Accounting Standards specified under section 133 of the Companies Act, 2013 as amended, read with policies relevant rules issued thereunder and other recognized accounting practices and the has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure disclosed, Requirements) Regulations, 2015, including the manner in which it is to be or that it contains any material misstatement.

For P.R. AGARWAL & AWASTHI CHARTERED ACCOUNTANTS FIRAVI REGN NO.:117940W

loo

CA PAWAN KR. AGARWAL PARTNER M.NO. 034147 UDIN No. : 21034147AAAADT3327

PLACE: MUMBAI DATE: 11/11/2021

P R AGARWAL & AWASTHI

CHARTERED ACCOUNTANTS

REGD. OFFICE : 42, GOPAL BHAVAN, 199, PRINCESS STREET, MUMBAI - 400 002. PHONE : 220 93908 + FAX : 022-220 89133 » E-mail : info@pawanca.cam URL : www.pawanc CO Independent Auditor's Review Report on the Guarterly Unaudited Consolidated Financial Results of Deccan Gold Mines Limited Pursuant to the Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

To

The Board of Directors of Deccan Gold Mines Limited

We have reviewed the accompanying Statement of unaudited Consolidated Financial Results of Deccan gold Mines Limited ("the Parent") and its subsidiaries, (collectively referred to as "the Group") and its share of the net profit/(loss) after tax and total comprehensive income / loss of its subsidiaries for the quarter ended September 30, 2021 and year to date results for the period from 01 April 2021 to 30 September 2021 ("the Statement"), attached herewith, being submitted by the Parent pursuant to the requirement of Regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 as amended ('The Listing Regulation').

This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been compiled from the related interim consolidated financial results / interim consolidated financial information which 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.

We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedure applied to financial data and thus

provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

This Statement includes the results of the following entities: -

a) Name of Subsidiaries included:

• e Deccan Exploration Services Private Limited (Wholly Owned Subsidiary)
• e Deccan Gold Tanzania Private Limited
• b) Is presented in accordance with the requirements of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 ('the Regulation') as amended, read with SEBI Circular No. CIR/CFD/CMD1/44/2019 dated 29th March 2019 ('the Circular').

Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement prepared in accordance with applicable Indian Accounting Standards specified under section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other recognized accounting practices and policies has not disclosed the information required to be disclosed in terms of the 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.

We have not conducted review of two subsidiaries included in the unaudited consolidated financial results, whose financial information reflect total assets of Rs.442.90 Millions as at September 30, 2021 and total revenues of Rs. 1.53 Millions, total net loss after tax of Rs. 1.07 Millions and total comprehensive loss of Rs. 1.07 Millions, for the period ended September 30, 2021 and net cash outflows of Rs.12.77 Millions for the period from April 1, 2021 to September 30, 2021 as considered in the unaudited financial results. These unaudited financial results have been approved and furnished to us by the Management. Our conclusion in so far as it relates to the affairs of these subsidiaries, is based solely on such unaudited financial results. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

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

For P R Agarwal & Awasthi

Chartered Accountants FirmRegistration No 117940W

tr apical

CA Pawan KR Agarwal Partner M No-034147 UDIN.: 21034147AAAADU2576

Place: Mumbai Date: 11/11/2021