Disa India Ltd. — Interim / Quarterly Report 2021

Feb 11, 2021

Norican Group Shaping Industry

Ref: DI L/SEC/2020-21 /53 Date: February 11, 2021

The Listing Manager BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001

Telephone no: +91 22 2272 1233/1234 Fax no: +91 22 2272 1919

BSE Scrip Code: 500068 Name of the Company: Disa India limited

Dear Sir,

Subject: Outcome of Board Meeting held on February 11, 2021

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that, the Board of Directors of the Company at its Meeting held on February 11, 2021, has amongst other matters transacted the following business:

• (1) Approved the 'Unaudited Standalone and Consolidated Financial Results' of the Company for the quarter and nine months ended December 31, 2020.

• (2) As recommended by Nomination and Remuneration Committee, appointed Mr. Michael Declan Guerin (DIN: 0009055549) as an Additional Director of the Company with effect from February 11, 2021.

• (3) As recommended by Nomination and Remuneration Committee, accepted the resignation tendered by Mr. Neil Christopher Moseley (DIN: 08908621) from the Office of Director of the Company with effect from February 11, 2021.

In this regard, please find enclosed the following:

• (1) 'Unaudited Standalone Financial Results' and 'Unaudited Consolidated Financial Results' of the Company for the quarter and nine months ended December 31, 2020.

• (2) 'Limited Review Reports' on the 'Unaudited. Standalone Financial Results' and 'Unaudited Consolidated Financial Results' for the quarter and nine months ended December 31, 2020 issued by M/s. Deloitte Haskins & Sells, Chartered Accountants, Statutory Auditors of the Company.

• (3) Brief profile of Mr. Michael Declan Guerin.

DISA India Limited

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Regislered & Corporale Office,

6'" fl()()(, S-604, World Trade Center (WTC). Brigade Gateway Campus, 26/1, Regional Sales, Or Rajkumar Road. Malleswaram-Rajajinagar, Bangalore-560 055, Karnalaka, India New Delhi, delhi@ooricangroup.corn T, +9180 2249 6700-031 F, ,9180 221,9 6750 IE, bangalore@nOficangroup.com Kolkala, kolkala@ooricangroup.com W, www.noricangroup.com Pune, pune@ooricangroup.com CIN, L85110KA1981cPI.C006116 I GST, 29AMCG50J0FllY Paris & Services, cdc.india@rrnicangroup.rnm

Manufacturing Facility,

Tumkur, No. 20-32. Satyamangala Industrial Area, Tumkur- 572104, Karnataka, India. T, +91816 6602000/01, E, tumkur@noricangroup.rnm Hosakole, Plol no 50, KIADB Industrial Area, Hosakote - 562114, Karnataka, India. T, •9180 27917!310/27971516. E, hosakote@ooricanarouo.com

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We are Norican : DISA I ltalpresse Gauss I StrikoWestofen I Wheelabrator

Norican Group Shaping Industry

The Meeting commenced at 2.46 pm and concluded at 5.06 pm.

Kindly treat this as compliance with SEBI (LODR) Regulations, 2015.

Thanking you,

Yours sincerely, Fo�ia Limited,

G. Prasanna Bairy Company Secretary & Compliance Officer

Encl: As above.

DISA India Limited

Regisle1ed &. Co,porale Office, G'" Floor. S-604. Wolld Trade Center (WTC}. Brigade Gateway Campus. 26/1. Dr Rajkumar Road. Malleswaram-Rajajinagar, Bangalom-560 055. Karnalaka, India T ,9180 2249 6700-03 IF, •9180 2Z49 6750 IE, bangalore@noricangra.ip.mm W, www.noricangra.ip.com

CIN, L85110KA19811PLC0061!6 I GSL 29AAACGS0J0FIZY

Regional Sales, New DelhL delhi@noricangroup.com Kolkata, kolkata@noricangroup.com Pune, pune@noricangroup.com Parts &. Services, cdc.india@noricangroup.com

Manufacturing Facility,

Tumkur, No. 28-32, Satyamangala Industrial Area, Tumkur - S72104, Karnataka, India. T, +91816 6602000/01, E, turnkur@noricangroup.com Hosakote, l-'lot no 50, KIADB Industrial Area, Hosakote - 562114, Karnataka, India L •9180 279171JI0/27971516, E, hosakote@noricanarouo.com

We are Norican : DISA I ltalpresse Gauss I StrikoWestofen I Wheelabrator ®

Norican Group Shaping Industry

BRIEF PROFILE OF MR. MICHAEL DECLAN GUERIN

Mr. Michael Declan Guerin is the CFO of Norican Group. He is 51 years old, a Chartered Management Accountant (CMA) from CIMA, United Kingdom and has over 20 years of significant international experience across industrial goods. Prior to joining Norican Group, he has worked for Rolls-Royce Holdings pie as Group Chief Restructuring Officer and as CFO for the Marine sector.

DISA India Limited

Registered P. Corporate Office, G'" Floor, S-604, World Trade Center (WTC), Brigade Gateway Campus, 26/1, Dr Rajkumar Road, Malleswaram-Rajajinagar, Bangalore-560055, Karnataka, India T, +9180 221,9 6700 -031 F, ,91 DO 2249 6750 IE, bangalore@noricangroup.com W, www.noricangroup.com CIN, L85110KA1984PLC006116 I GST, 29AMCG50J0F!ZY

Regional Sales, New Delhi, delhi@noricangroup.com Kolkata, kolkata@noricangroup.com Pune, pune@noricangroup.com Paris P.Services,cck:.indi.l@noricangro11p.com

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We are Norican : DISA I ltalpresse Gauss I StrikoWestofen I Wheelabrator

�

Manufacturing Facmty,

Tumkur, No. 28-32, Satyamangala Industrial Area, Tumkur -572104, Karnalaka, India T, +91816 6602000/01, E, tumkur@noricangroup.com Hosakote, Plot no SO, KIAOB Industrial Area, Hosakotc - 562114, Karnataka, India. T, ,9180 279171310/27971516. E, hosakote@noricanarouo.com

DISA INDJA LIMITED

Registered Office: World Trade Center, 6th floor.Unit no S-604 Brigade Gateway Campus,26/1,Dr Rajkumar Road,Malleswaram Rajajinagar,Bangalore 560055 E-mail:bangalore@noricangrovp com, www.dioagroup.com,Tel: +91 80 2249 6700, Fax +91 80 2249 6750 ,CIN ·L85110KA1984PLC006116 STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020

/Rs.In Mlllionl	/Rs.In Mlllionl	/Rs.In Mlllionl
Corresponding 3 months ended Sr. Particulars 3 months Preceding 3 In the previous No ended months ended year 31/12/2020 30/09/2020 31/12/2019 Unaudited Unaudited Unaudited 1a) Revenue from operations 727,6 478.4 884.4 bl Other income 27.3 20.1 19.6 Total revenue {a+bl 754.9 498.5 904.0 2Expenses (a) Cost of materials consumed 295,4 164.2 316.4 (b) Purchase of stock in trade 68.5 29.8 47.1 (c) Changes in inventories of finished goods, stock in trade and work-in-progress 41.8 70.3 132.1 (d) Employee benefit expense 67.0 79.6 99.6 (e) Finance costs 1.2 0.8 1.0 (I) Depreciation and amortisation expense 8.9 8.5 8.8 I Col Other exoenses 53.2 44.6 93.8 Total exnenses 536.0 397.8 698.8 3Profit before tax (1-2) 218.9 100.7 205.2 4Tax expenses (a) Current tax 57.1 25.9 55.9 lbl Deferred tax 11.8l 0.4 {0.3) Total tax exoense 55.3 26.3 55.6 5Profit after tax {3-4) 163.6 74.4 149.6 6Other Comprehensive Income (net of tax) Items that will not be reclassified to profit and loss 2.4 (0.3) (3.6) Total Comprehensive Income (5+6) 166.0 74.1 146.0 8Paid up equity share capital (Rs.1 O each) 14,5 14.5 14.5 9Earnings per equity share (face value of Rs.10/- each) (not annualised) Basic and diluted - Rs. 112.50 51.16 102.87	Yearto date Year to date figures for figures for current period previous period ended ended 31/1212020 31/12/2019 Unaudited Unaudited 1,478.8 2,063.4 68.6 57.7 1,547.4 2,121.1 543.2 893.9 109.7 164.5 187,6 73.3 225.0 294.0 2.8 3,3 26.6 25,9 136.4 252.9 1,231.3 1,707.8 316.1 413.3 83.0 110.6 (2.3) {1.0) 80.7 109.6 235.4 303.7 1.9 (2.8) 237.3 300.9 14.5 14.5 161.88 208.84	Previous year ended 31/03/2020 Audited 2,236.0 76.9 2 312.9 1,003.1 176,4 33.4 373.9 4,3 34.8 301.8 1,927.7 385.2 101.4 {1.8) 99.G 285.6 (1.2) 284.4 14.5 196.40
Notes:

1 The above unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on February 11, 2021. The statutory auditors of the Company have carried out the limited review of the unaudited standalone financial resulls for the quarter ended and nine months ended December 31, 2020.

• 2 The Company operates in a single segment of manufacturing and selling of foundry machinery and machinery parts.

3 As a consequence of the global pandemic Covid-19, the Company's manufacturing plants and offices were temporarily closed from March 23, 2020 due to government mandates and the Company has resumed ils operations from May 04, 2020. During this closure, production activities and customer deliveries of equipment and spare parts from Company's facilities were suspended which had negatively impacted revenue for the quarter ended June 30, 2020. The Company has taken various steps to control costs to adjust to lower volumes. In the managemenrs estimate, there has not been a significant change in the carrying value of receivables, inventory or property, plant and equipment as a result of the pandemic and consequent temporary plant closures. The impact of the global heallh pandemic and any additional government mandates in response to the pandemic. on the Company's financial position may change following the date of approval of these financial results. Management will continue to closely monitor any material changes to the Company's financial position as a result of changes in future economic conditions and any government actions. 4 Previous periods figures have been regrouped / reclassified wherever necessary.

Additional Information:

Order backlog as at December 31. 2020 was Rs. 1,137 Million.

Place : Bengaluru :r� , �,

For Disa lndi Limited Lokes Saxena Managing:l)irector

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DISA INDIA LIMITED

Registered Office· Wortd Trade Cenler, 6th floor.Unit no S-604 Brigade Gateway Campus,26I1,Dr Rajkumar Road,Matleswaram RaJajinagar,Bangatore 560055 E-n1ail.bangalore@noricangroup.com, v.v.w disagroup com.Tel: +91 80 22496700 . Fax: +91802249 6750.CIN ·L85110KA1984PLC006116 STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2020

	!Rs.in**Million) **	!Rs.in**Million) **	!Rs.in**Million) **	!Rs.in**Million) **	!Rs.in**Million) **	!Rs.in**Million) **	!Rs.in**Million) **	!Rs.in**Million) **	!Rs.in**Million) **
Sr. No Particular	3 months ended	Preceding 3 months ended	Corrsponding Vear to date 3 months ended figures for inthe previous current period year ended			rear to aate figures for previous period ended			Previous year ended
	31/12/2020 Unaudited	30109/2020 Unaudited	31/12/2019 31/12/2020 Unaudited Unaudited 912.1 1,531.3 19.5 67.7			31/12/2019 Unaudited - 2,142.7 57.3 2,200.0			31/03/2020 Audited 2,333.0 76.0
1 a) Revenue from operations bl Other income	751.7 27.1	497.4 19.7	912.1 19.5
Total revenue(a+b)	78.8	517.1	931.6	1,599.0					2,409.0 1,048.1 176.4 32.7 387.1 4.3 37.7 323.7
2 Expenses (a) Cost of materials consumed (b) Purchase of stock in trade (c) Changes in inventories of finished goods, stock in trade and work-in-progress (d) Employee benefit expense (e) Finance costs (I) Depreciation and amorisation expense l/n1 Olher exoenses	305.1 173.6 328 2 68.5 29.8 47.1 43.2 71.4 133.6 69.3 82.4 102.5 1.2 0.8 1.1 9.7 9.2 9.6 58.6 48.1 99.3 555.6 415.3 721.4 223.2 101.8 210.2			566.5 109.7 190.5 233.1 2.8 28.9 147.9 1,279.4 319.6		1	930.3 164.5 75.1 303.6 3.5 28.1 270.4 775.5
Totalexoenses									2,010.0
3 Profit before tax(1-2)	223.2 101.8						424.5		399.0
4 Tax expenses (a) Current lax ltbl Deferred tax	58.1 25.7 11.7\ 0.9		57.0 (0.1)	83.8 (2.2)			112.1 0.3		104.7 (1.51
Total tax exoenses	56.4	26.6	56.9 153.3	81.6 238.0			112.4 **312.1 **		103.2
5 Profit after tax 13-)	166.8	75.2							295.8
6 7 8 9 Other Comprehensive Income (net of tax) Items lhal will not be reclassified to profit and loss Total Comprehensive Income (5+6) Paid up equity share capital (Rs.10 each) Earnings per equily share (lace value of Rs.10/- each) (not annualised) Basic and diluted-Rs.	2.5 169.3 14.5 114.70	(0.3) (3.6) 74.9 149.7		2.0 240.0			(2.9) 309.2		(1.3) 294.5
		14.5 14.5 51.71 105.42		14.5 163.66		2	14.5 14.62		14.5 203.41

Notes:

1 The above unaudited consolidated financial results of DISA India Limited ('lhe Parent' I 'lhe Company) and its subsidiary (together referred to as the 'Group') have been reviewed by lhe Audit Committee and approved by the Board of Directors al their meetings held on February 11, 2021. The slalulory auditors of lhe Company have carried out the limited review of the unaudited consolidated financial results for the quarter ended and nine months ended December 31, 2020.

2 The Group operates in a single segment of manufacluring and selling of foundry machinery and machinery parts.

3 As a consequence of lhe global pandemic Covid-19, the Group's manufacturing plants and offices were temporarily closed from March 23, 2020 due to government mandates and the Group has resumed its operations from May 04, 2020. During this closure, production activities and customer deliveries of equipment and spare parts from Group's facilities were suspended which had negatively impacted revenue for lhe quarter ended June 30, 2020. The Group has taken various steps to control costs to adjust lo lower volumes. In the management's estimate, there has not been a significant change in the carrying value of receivables, inventory or property, plant and equipment as a result of the pandemic and consequent temporary plant closures. The impact of the global health pandemic and any additional government mandates in response lo the pandemic, on the Group's financial position may change following the date of approval of these financial results. Management will continue to closely monitor any material changes lo the Group's financial position as a result of changes in future economic conditions and any government actions. 4 Previous periods figures have been regrouped / reclassified wherever necessary.

For Disa Ind Limited

Place : Bengaluru ; §' "�"

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Deloitte Haskins & Sells

Chartered llccounlants Prestige Trade Tower, Level 19 46, Palace noad, High Grounds Bcnoaluru - 560 001 Karnataka, India Tel: +9l 80 6188 6000 Fax: +91 00 6188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF DISA INDIA LIMITED

1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of DISA INDIA LIMITED ("the Company"), for the quarter and nine months ended December 31, 2020 ("the Stat�ment"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. 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 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 thereunder and other accounting principles generally accepted In India. Our responslblllty Is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement In accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial lnform;itlon PP.rformP.rl hy thP. Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (TC":AI). A rP.viP.w of lntP.rim fin;inc:i11I inform11tion consists of making Inquiries, primarily of the r.omp;iny's flP.rsonnP.I rP.sponsihlP. for fln11nr.l11I 11nrl 11ccountlng matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted In accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. '1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared In accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted In India, has not disclosed the information required to be disclosed In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, Including the manner in which It Is to be disclosed, or that It contains any material misstatement.

For DELOITTE HASKINS & SELLS Chartered Accountants (Firm's Registration No. 0080725) Monlsha Parikh Partner (Membership No. 47840) UDIN:JI0� 18�10/\AAA1>,Mol%3

AHMEDABAD FP.hrwiry 11, ;,o;, 1 MP/ LS/2021

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Deloitte Haskins & Sells

Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru - 560 00 I �di lldldkd, h ,�,.

Tel: +91 60 6168 6000 Fax: +91 80 6188 6011

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF DISA INDIA LIMITED

• l. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of DISA INDIA LIMITED ("the Parent") and Its subsidiary (the Parent and Its subsidiary together referred to as "the Group"), for the quarter and nine months ended December 31, 2020 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

• This Statement, which Is the responsibility or the Parent's Management and approved by the Parent's Board of Directors, has been prepared In accordance with the recognition and measurement principles laid down In the Indian Accounting Standard 34 "Interim Flnanclal Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules Issued thereunder and other accounting principles generally accepted in India. Our responslblllty Is to express a conclusion on the Statement based on our review.

• 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 (ICAI). A review of interim financial Information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review Is substantially less in scope than an audit conducted In accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be Identified In an audit. 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 Obllgatlons and Disclosure Requirements) Regulations, 2015, as amended to the extent appllcable.

1. The Statement Includes the results of the following entitles:

DISA India Limited - Parent Bhadra Castalloy Private Limited - Subsidiary

• s. Based on our review conducted and procedures performed as stated In paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared In accordance with the recognition and measurement principles laid down In the aforesaid Indian Accounting Standard and other accounting principles generally accepted In India, has not disclosed the Information required to be disclosed In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, Including the manner In which It Is to be disclosed, or that It contains any material misstatement.

• We did not review the financial results of one subsidiary Included In the consolidated unaudited flnanclal results, whose financial results reflect total revenues of Rs, 28.8 Mllllon and Rs. 58.6 Mllllon for the quarter and nine months ended December 31, 2020 respectively, total net profit after tax of Rs. 3.2 Million and Rs. 2.6 Mllllon for the quarter and nine months ended December 31, 2020 respectively and total comprehensive Income Rs. 3.3 Million and Rs, 2, 7 Million for the quarter and nine months ended December 31, 2020 respectively, as considered In the

t Statement. These Interim financial results have been reviewed by other auditor whose report

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Deloitte Haskins & Sells

has been furnished to us by the Management and our conclusion on the Statement, In so far as It relates to the amounts and disclosures Included In respect of the subsidiary, Is based solely on the report of the other auditor and the procedures performed by us as stated In paragraph 3 above.

Our conclusion on the Statement Is not modified In respect of these matters.

For DELOITTE HASKINS & SELLS Chartered Accountants (Firm's Registration No. 0080725)

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Monlshe Pa�lkh Partner (Membership No. 47840) UDIN: & 10'118�0 AMAAM�?J58

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AHMEDABAD February 11, 2021 MP/ LS/2021