Dixon Technologies (India) Limited — Capital/Financing Update 2020

Oct 30, 2020

Dixon® Dixon Technologies (India) Ltd.

30.10.2020

; ,::::' B-14,15 u· · / .

: Phase-II. ~. :_ *Z*NOIDA '--- :

ToSecretaryListing DepartmentBSE LimitedDepa rtment of Corporate ServicesPhiroze Jeejeebhoy Towers,Dalal Street, Mumbai - 400 001	ToSecretaryListing DepartmentNational Stock Exchange of India LimitedExchange Plaza, Bandra Kurla ComplexMumbai - 400 051
Scrip Code - 540699	Scrip Code- DIXON
ISIN: INE935N01012	ISIN: INE935N01012

Dear Sir/Madam,

Sub: Outcome of Board Meeting and Nomination & Remuneration Committee Meeting

In furtherance to our intimation dated 23rd October, 2020, we hereby info rm you that the Board at its Meeting held today, 30th October, 2020, considered and approved, interalia among other business, the Un-audited Financial Results (Standalone and Consolidated) of the Company for the Quarter and Half year ended 30th September, 2020.

Following are the key highlights on consolidated basis:

Particulars	Quarte r ended 30.09.2020
	Amount( In Rs. Lakhs)	Up
REVENUE	1,63,899	t 17%
EBIDTA	8,964	t 36 %
PBT	7,181	t 49%
PAT	5,236	t 22%

The detailed fo rmat of the Un-Audited Financial Results (Standalone and Consolidated) together with the Limited Review Report is enclosed for your records. A copy of the same is also uploaded on the Company's Website www.dixoniofo com.

Further, an extract of the afore-stated Financial Results shall be published in the manner as prescribed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Additi_onally, we hereby inform you that in accordance wi th the provisions of the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Nomination and Remuneration Committee of the Company was held on 30th October, 2020 for grant of 300,000 no. of options convertible into equal number of equity shares of the Company of face value of Rs.10/- each, to the present and/or future permanent employees of the Company and its present and future subsidiary Compa ny (ies) under the Dixon Technologies (India) Limited Employ<:~ · · .9011 Plan- • \ 2020("Dixon ESOP 2020") from time to time in one or more tranches. -<(/\ OG'i•· . ~~ \v·

The terms of grant inter-alia are as under:

S. No.	Particulars	Description
1.	Brief details of options granted	The Nomination and Remuneration Committee hasapproved the grant of 300,000 stock options , to thepresent and/or future permanent employees of theCompany and its present and future subsidia ryCompany (ies) from time to time in one or moretranches.
2.	Whether the scheme is in terms ofSEBI (SBEB) Regulations, 2014 (ifapplicable);	Yes
3.	Total number of shares covered bythese options	300,000equity shares(each stock optionisconvertible into one equity share) of face value of Rs.10/-each of the Company
4.Pricing formula		The Exer cise Price is based on the Market Price of theequity shares of the Company which means the latestclosing price on a recognized stock exchange onwhich the shares of the company are listed on thedate immed iately prior to the date of meeting ofcommittee.As the shares of the Company are listed on more thanone Stock Exchange, the price of the Stock Exchange,where there is highest trading volume during theaforesaid period has been considered.The Compensation Committee has a power to providesuitable discount or charge premium on the price asarrived above. However, in a ny case the ExercisePrice shall not go below the par face value of Equity
5.	Options vested	Share of the Company.Nil
6.	Time within which option may beexercised	T he said options shall be exercised within a periodof One year from the date of last vesting.
7.	Options exercised	Not Applicable, as this outcome is pertaining to GrantofOutions under DIXON ESOP - 2020.
8.	Moneyrealizedbyexerciseofoptions	Not Applicable, as this outcome is pertaining to Grantof Options under DIXON ESOP - 2020.
9.	The total number of shares arising asa result of exercise of option	300,000 Equity Shares of face value Rs. 10/- each willarise deeming all granted options are vested andexercised
10.	Options lapsed	Not Applicable
11.	Variation of terms of options	Not Applicable
12.	Brief details of significant terms	The grant of options is based on the eligibility criteriaas decided by the Compensation Committee.The Grant of an Option shall entitle the holder toacquire one Equity share in the Company, uponpayment of Exercise Price.The options shall vest based upon the performance ofthe employee,mayasbedeterminedby theCompensation Committee from time to time but shallnot be less than 1 (one) year and not more than 5

		(five) years from the date of grant of options.The exercise price shall be based on the market priceof the Company which shall mean the latest closingprice on the recognized stock exchange on which theshares of the company are listed on the dateimmediately prior to the date of meeting ofcommittee on which grant is to be made. As theshares of the company are listed on more than onestock exchange, the closing price on the stockexchange having higher trading volume shall beconsidered as the market price.In any case, the Exercise price shall not go below theface value of Equity shares of the Company.
13.	Subsequent changes or cancellationor exercise of such options	Not Applicable
14.	Diluted earnings per share pursuantto issue of equity shares on exerciseof options	Not Applicable

Time of Commencement of Board Meeting: 11:45 A.m.Time of Conclusion of Board Meeting: 01:45 P.m.

You are kindly requested to take the aforesaid on your records.

Thanking You,

For DIXON TECHNOLOGIES (INDIA) LIMITED

Ashish Kumar(Group Company Secretary and Compliance Officer)

Encl: as above

LLP

Charte red Accountants

LIMITED REVIEW REPORT ON UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF-YEAR ENDED 30 SEPTEMBER 2020

To the Board of Directors of DIXON TECHNOLOGIES (INDIA) LIMITED

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of DIXON TECHNOLOGIES (INDIA) LIMITED ("the Company") for the quarter and halfyear ended 30 September, 2020 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India ("the SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. 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 Indian Accounting Standard 34 'Interim Financial Reporting ' ('Ind AS 34'), prescribed under Section 133 of the Companies Act, 20 13 ("the Act") read with relevant Rules issued thereunder; and other accounting principles generally accepted in India. Our responsibility is to issue a conclusion 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. ihis 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 procedures 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 .
• 1. 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 the recognition and measurement principles laid down in the aforesaid Ind AS and other accounting principles generally accepted in india, has not disciosed 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 1s to be disclosed, Oi that it contains any material misstatement.

For S.N. Dhawan & CO LLP Chartered Accountants Firm Registration No.: 000050N/N500045

Partner Membership No.: 087701 UDIN No.: 20087701AAAAHD5575

Place: Delhi Date : 30 October 2020

DIXON TECHNOLOGIES (INDIA) LIMITED REGISTERED OFFICE 01 •1 &. 15,PHASE II, MOIOA UTT,\rt PRADESt-t-20 1305

C[N: L32101UP1993PLC066581, Website: 'IWW,dlxonlnfo.com STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER , 2020

						(Rupees In Lakhs)
S.No.	Particulars	Quilrlcr ended				Half Year ended	Year ended
		JO·Sep-20	30·Jun•20	JO•Sep•19	JO•Sep·lO	JO· Sep-19	31-Mar-20
		Unaudit,.d	Unnudited	Unaudited	Unaudited	Unaudited	Audited
l	Revenue from operations	1,47,288	.;6,578	1,16,439	1,93,866	2,09,979	3,67, 150
2	Other Income	l l1 47 319	2546,603	2521 16 691	561 93 922	3002 10 279	9203 68 070
34	Total Income (1+21Expenses
	a) Cost or materials consumed	1,29,861	35,981	1,05,0l3	1,65.842	1,84,366	3,21,211
	b) Changes in 1nventones of finished goods, work-in-progress and	(270)	4,893	(2,110)	4,623	294	(3,157)
	stock-in-tradec) Employees benefits e)(pense	3,306	1,835	2,834	5,141	5,327	10,874
	d) Finance costs	686	556	951	1,242	1,928	3,510
	e) Depreciation and amortisation expense	968	806	705	1,774	1,361	3,17B
	f) Other exoenses	6 154	2 292	5 128	8 446	9 731	18 213
	Total expenses	1,40,705	46,363	1,12,521	1,87,068	2,03,007	3,53,829
5	Profit berore exceptional items and ta,c	6,614	240	4,170	6,854	7,272	14,241
	Exceptional ttems						-
6	Prom before tax	6,614	240	4,170	6,854	7,272	14,241
7	Tax expenses {Net)
	a) Current tax	1,793	100	806	1,893	1,915	3,645
	b) Oererred tax	(14)	(42)	(396)	(56)	(448)	(523)
	c) Income tax related to earHer years						58
8	Net Profit ror the period/year (6-7)	4,835	182	3,760	5,017	S,805	11,061
9	Other Comprehensive Income ('OCI')
	a) Items that wlll not be reclassified to Profit or Loss (net of t.Jx)	(11)	(11)	(2)	(22)	(4)	(50)
	b) Items that will be reclassified to Prorit or Loss (net or ta)()
1 0	Total Comprehensive Income	4,824	171	3 ,758	4,995	5,801	11,011
II	Paid-up equity share capltal (Face value per share Rs. 10)	1,157	1,157	1,133	1,157	1,133	1,157
12	Other equity excluding revaluation reserve						50,259
13	Earning per share or Rs. 10/- each (not annualised)
	(a) Basic {Rs.)	41.78	1.57	ll.21	43,35	51.26	96.88
	(b) Diluted (Rs.}	40.811	L54	31.81	42,42	49,09	94 .26

Notes:

Th ese finandal results have been prepared In accordance with lndlun ,\ccountlng Standards {lnd·AS) as prescribed under section 133 of Companies Act, 2013 read with Ruic 3 of the companies (Indian Accoun ting Standards) Rules 2015 and relevant amendment thereafter.

The Company had made an Initial Public Offer {'IPO') during the Quarter ended 30 September, 2017, for 33,93,425 equity shares of Rs . 10 each, comprising of 3,39,750 fresh issue of equity shares by the Company and 30,53,675 equity shares offered for sale by share holders. The equity shares were Issued at a price of Rs. 1,766 per share (lncludlng premium of Rs. 1,756 per share). Out or the total proceeds from the IPO of Rs . 59,928 Lakhs, the Company's share was Rs. 6,000 Lakhs from the fresh issue of 339,750 equity shares. Fresh equity shares were allotted by the Company on 14 September, 2017 and the shares of the Company were listed on the stock exchanges on 18 September, 2017.

Details of utilisation or IPO Proceeds arc as follow

				fR""'"n" In Lakhc;l
Particulars		Object or theIssue as perProspectus	Total Utilization AmountUp to Sep 30,2020	PendingUtilization
	Re·payment/pre-payment, in full or In part, of certain borrowings availed by theCompany	2,200	2,200
	b. Setting up a unit for manufacturing of LED TVs .1t the Tirup.1ti (A,P)	758	758
	C. Finance the enhancement or our backward inte(Jratlon capabilities in the lightingproducts vertical at Ochradun Facility	886	796	90
	d. Upgradation of the information technology Infrastructure or the Company	1,063	941	122
	. r.:r> neral cornnrJtc nurs f ~ee notP 'b. below	BOS	805
	Sub-•,•-1	s 712	5 500	212
f,	po FxnPn'-''SnntP 'h' hPlowl	288	28R
	Tntal	6 000

Notes:

a. Estimated !PO expenses reduced by Rs. 54 Lakhs and accordingly expense transferred to General Corporate Expenses.

b. The members of the Company had, at Its Annual general Meeting held on 29l" September, 2020 approved "'variation in the terms of the Object or the public Issue as stated In the prospectus of the Company dated 11th September, 2017" whereby the unutilized amount aggregating to Rs, 212 Lilkhs, constituting 3.53% of Total Proceeds shall be utilized towards General Corporate Purpose between Pf 2020 to FY 2022.During the Quarter ended 30th September, 2020, there was no further utilization or such unutilized

proceeds. Thererore, as on 30th September, 2020, remaining unutil/zed proceeds have been temporarily dei,osited In scheduled banks as Fixed deposlt. The above results were reviewed by the Audit Committee and approved by the Board of Directors ln their respective meetings held on October 30, 2020. The Umited Review for

the quarter and half year ended 30 September, 2020, has been carried out by the Stiltutory Auditor, as required under Regulation 33 of SEBI (LOOR) Regulation, 2015. "\

The chier operating decision maker (CODM) comprises of the Board of Directors ,Ct11er opl!raUng orricer & Chief flnancial off,cer whi exan\nes the Company's performance on the basis of single operating segment Electronics Goods; accordingly segment disclosure has not been made.

Figures of the previous periods h;Jve been regrouped /rearranged, wherever neCC!SS.Jry

Place : Naida Date : Jo.10.2020

DIXON TECHNOLOGIES (INDIA) LIMITED

REGISTERED OFFICE

B14 & 15,PHASE II, NOIDA UTTAR PRADESH-201305

CIN : L32101UP1993PLC06658 1, Website : www. dix<;minfo.com STANDALONE BALANCE SHEET AS AT 30TH SEPT., 2020

(Rs. in Lakhs unless otherwise stated)

	As at30-Sep-2020	As at31- Mar-2020
	Unaudited	Audited
ASSETS
Non-Current Assets
Property, plant and equipmenta.	26,374	26,274
b.Capital work-in-proqress	2,049	955
c.Intanqible assets	386	433
Riqht of use assetsd.	7,950	8,337
e.Financial assets
Investmentsi.	4,501	4,501
ii. Other Financial Assets	986	857
Other non-current assets	3 512	1 803
Current Assets	45,758	43,160
a.Inventories	39,068	36,400
b.Financial assets
i.Investments	1,000
ii. Trade receivables	1,02,721	42,860
iii . Cash and cash equivalents	4,811	9,335
iv. Bank balances other than cash and cash equiva lents	424	434
v. Other Financial Assets	1,744	2,587
Other current assetsc.	9,313	7,353
d.Current tax assets	178
	1,59,259	98,969
TOTAL ASSETS	2,05,017	1,42,129
EQUITY AND LIABILITIES
~
a.Equity share capital	1,157	1,157
b. Other equity	55 34356,500	so 25951,416
Liabilities
Non-Current Liabilities
a.Financial liabilities :
Borrowinqsi.	3,378	957
ii. Other Financial LiabilitiesProvisionsb.	7,959686	8,127626
c.Deferred Tax Liabilities (Net)	1194	1 258
	13,217	10,968
Current Liabilities
a.Financial liabilities :
i.Borrowinqs	6,746	6,298
ii . Trade payables
- Total outstanding dues of Micro, small	3,523	1,527
enterorises
- Total outstandinq dues of othersiii. Other financial liabilities	1,19,061	69,877
b.Other current liabilities	1,3803,647	1,081504
c.Provisions	943	438
d.Current tax liabilities		20
	1,35,300	79,745
TOTAL EQUITY AND LIABILITIES	2,05,017	1,42,129
	'.' ~_---: .
	. -':·::-
	- \

DIXON TECHNOLOGIES (INDIA) LIMITED

REGISTERED OFFICE

B14 & 15,PHASE II, NOIDA

UTTAR PRADESH-201305 CIN: L32101UP1993PLC066581, Website: www.dixoninfo.com

STANDALONE CASH FLOW STATEMENT

		(Rs. in Lakhs unless otherwise stated)
		Half year ended30th September, 2020	Year ended31st March, 2020
		Unaudited	Audited
A.	Cash flow from operating activities
	Profit before tax	6,854	14,241
	Adjustments for :
	Depreciation and amortisation expense	1,774	3,178
	Finance Costs(Gain) /Loss on Exchanqe fluctuation on borrowinqs	1,242	3,510
	Provision for impairment of property, plant and equipment	120	319240
	Interest income	(52)	(237)
	Dividend Income		(450)
	Provision for doubtful debts/ loans and advances written back	(3)	(225)
	(Profit)/Loss on sale of property, plant and eq uipment	29	29
	Excess liabilities, credit balances, provisions etc. written backShare based payment of employees	90	(1)568
	Bad debts write off	3	394
		10,057	21,566
	Changes in working capital
	Adjustments for (increase) / decrease in operating assets:
	Inventories	(2,669)	(6,705)
	Trade receivables	(59,861)	911
	Other current assetsOther financial assets	(1,959)	(1,153)
	- non-current	(129)	(228)
	- current	842	(680)
	Adjustments for increase/ (decrease) in operatinq liabilities:
	Trade payables	51,180	16,171
	Other financial liabilities	536	(273)
	Other current liabilities	3,144	(2,154)
	Provisions	535	212
	Cash generated from operating activitiesIncome tax paid (net)	1,676(2,091)	27,667(3,861)
	Net cash generated from/ (used in) operating activities	(416)	23,806
B.	Cash flow from investing activities
	Capital expenditure on property, plant and equipment and	(4,476)	(8,907)
	intanqible assets
	Sale proceeds of property , plant and equipmentInvestment in Mutual Funds	(1,000)	186
	Equity investments in shares of joint venture		(2,701)
	(Increase) / decrease in bank balance not considered as cash and cash	10	1,424
	equivalent (net)
	Dividend Income		450
	Interest income receivedNet cash generated from/(used in) investing activities	52(5,414)	237
			(9,311)
C.	Cash flow from financing activities
	Interest paid	(1,405)	(3,511)
	Proceeds from issue of share		4,570
	Proceeds/ (repayment) from current borrowinqs (net)	448	(6,824)
	Proceeds from non Current financial BorrowinqsRepayment of non Current financial Borrowinqs	2,416(153)	496(48)
	Dividend paid		(689)
	Dividend distribution tax paid		49
	Net cash generated from/(used in) financing activities	1,306	(6,055)
	Net increasel(decrease) in cash and cash equivalents {A+B+C)Cash and cash equivalents at the beqinninq of the year	(4,524)	8,440
	Cash and cash equivalents at the end of Period /year	9 3354 811	8959 335
		··ttt~:;-.

i i - .I

·•.:-.:.

SoN.Dhawan & co LLP

Chartered Acco untants

Limited Review Report on Consolidated Unaudited Financial Results for the quarter and half-year ended 30 September 2020

To the Board of Directors of DIXON TECHNOLOGIES (INDIA} LIMITED

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of DIXON TECHNOLOGIES (INDIA} LIMITED ("the Holding Company") and its subsidiaries (the holding company and its subsidiaries together referred to as "the Group"), and joint venture for the quarter and half year ended 30 September, 2020 ("the Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India ("the SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding 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, read with relevant rules issued thereunder, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion 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 (ICAI). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is c;11h_c;tr1ntir1lly lpc;c; in c;rnr,P th;in ;in r111rlit rnnrlu,tf>rl in r1rcorrlr1nrP with Str1nrlr1rrl5 on A1; rliting 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 Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. This statement includes the results of the following entities:

Name of the Company	Relation	Percentageof :ownershipinterest
AIL Dixon Technologies Private Limited	Joint venture	50%
Padget Electronics Private Limited	Subsidiary	I 100%
Dixon Global Private Limited	Subsidiary	I100%
,_ _____Dixu11 cieLLr u Aµµiic:111Lt:!l Pr ivc:1te LimitedI	-Subsidiary-----	I 100%I--- L

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and base_d on the consideration of the review reports of other auditors referred to in paragraph 6 below nothing has come to our attention that causes us to believe that the accompanying Statement, prepare_d 1n accordance with the recognition and measurement principles laid down in the u, ·-~~ci·~ ,~~ I\C ~ ~ th t· . - I u, ~J ,u .. ,u ,.,~ unu o er ziccoun ing pnnc:p cs generally accepted in India, has not disclosed the 1nformat1on required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Discl_osure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that It contains any material misstatement.

6. Other Matter

This statement includes the financial results of two subsidiaries, included in the consolidated financial results, whose financial results reflect total assets of Rs. 20,932 lakhs as at 30 September, 2020 and total revenues of Rs. 16,956 lakhs and 21,480 lakhs, profit a~er tax of Rs. 332 lakhs and 355 lakhs, total comprehensive income of Rs . 332 lakhs and Rs. 356 lakhs for the quarter and half-year ended 30 September 2020 respectively and net cash flows of Rs. 937 lakhs for the half year ended 30 September 2020, as considered in the consolidated financial results, whose financial results have not been reviewed by us . These financial rcsu!ts have been reviewed by other auditors, whose reports have 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 these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

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

For S.N. Dhawan & CO LLP Chartered Accountants Firm Registration No.: 0000S0N/N500045

~<)-JP'

Vinesh Jain Partner Membership No.: 087701 UDIN No. : 20087701AAAAHE6835

Place: Delhi Date : 30 October 2020

DIXON TECHNOLOGIES (INDIA) LIMITED DIXON LECHNOLOGIERED OFFICEB14 & 15,PHASE II, NOIDAUTTAR PAADEE II, NOIDASTATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2020STATEMENT OF CONSOLIDATED UNAUDITED

							(Rupees in Lakhs)
	S.No. Particulars	Ouarter ended			Half Year Ended		Year Ended
		30-Sep-20	30-Jun-20	30-Sep-19	30-Sep-20	30-Sep-19	$31-Mar-20$
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
$\mathbf{1}$$\overline{2}$	Revenue from operationsOther income	1,63,87425	51.69421	1,40,193283	2,15,56846	2,54,890340	4,40,012520
3	Total income $(1+2)$	1,63,899	51,715	1,40,481	2,15,614	2,55,230	4,40,532
$\overline{\mathbf{4}}$	Expensesa) Cost of materials consumedb) Changes in inventories of finished goods, work-in-progress	1,45,244(772)	38,4007,100	1,26,538(1,013)	1,83,6446,328	2,26,604543	3,91,334(5,314)
	and stock-in-tradec) Employees benefits expensed) Finance costse) Depreciation and amortisation expensef) Other expenses	3,5886911,0926,875	1,9775699252,528	3.1549378175,213	5.5651,2602,0179,403	5.9981,9231,57810,180	11,7963,4973,65319,889
	Total expenses	1,56,718	51,499	1,35,646	2,08,217	2,46,826	4,24,855
5	Profit before exceptional items and tax	7,181	216	4,835	7,397	8,404	15,677
	Exceptional items	٠	$\hat{\phantom{a}}$	$\blacksquare$	$\blacksquare$	۰
6	Profit before tax	7.181	216	4,835	7,397	8,404	15,677
$\overline{7}$	Tax expenses (Net)a) Current taxb) Deferred taxc) MAT credit entitlementd) Income tax related to earlier years	1,91734(6)	108(58)6	956(417)(9)	2.025(24)(6)6	2,197(420)(36)	4,066(402)(78)41
8	Net Profit for the period/year (6-7)	5,236	160	4,304	5,396	6,662	12,050
q	Other Comprehensive Income ('OCI')a) Items that will not be reclassified to Profit or Loss (net oftax)b) Items that will be reclassified to Profit or Loss (net of tax)	(11)÷,	(10)٠	(1)٠	(21)$\blacksquare$	(3)¥	(45)
10	Total comprehensive income	5,225	150	4,303	5.375	6,659	12,005
11	Paid-up equity share capital (Face value per share Rs.10/-)	1,157	1,157	1,133	1,157	1,133	1,157
1213	Other equity excluding revaluation reserveEarning per share of Rs. 10/- each (not annualised)						52,976
	(a) Basic (Rs.)(b) Diluted (Rs.)	45.2544.28	1.381.35	38.0036.39	46.6445.63	58.8256.33	105.54102.70

Notes:

$\ddot{\cdot}$

$\frac{1}{\sqrt{2}}$

These financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under section 133 of Companies Act, 2013 read with Rule 3 of thecompanies (Indian Accounting Standards) Rule $\mathbf 1$

The Holding Company had made an Initial Public Offer ('IPO') during the Quarter ended 30 September, 2017, for 33,93,425 equity shares of Rs. 10 each, comprising of 3,39,750fresh issue of equity shares by the Company and 3

Details of utilisation of IPO Proceeds are as follow

				(Rupees in Lakhs)
	Particulars	Object of theIssue as perProspectus	Total UtilizationUp to Sep 30,2020	Amount pendingutilisation
	a. Re-payment/pre-payment, in full or in part, of certain borrowings availed by theCompany	2.200	2,200
	b. Setting up a unit for manufacturing of LED TVs at the Tirupati (A.P)	758	758
Ic.	Finance the enhancement of our backward integration capabilities in thelighting products vertical at Dehradun Facility	886	796	90
	Upgradation of the information technology infrastructure of the Company	1,063	941	122
	e. General corporate purposes (see note 'b' below)	805	805
	Sub-total	5,712	5,500	212
	IIPO Expenses (see note 'b' below)	288	288
	Total	6,000

Notes:a. Estimated IPO expenses reduced by Rs. 54 Lakhs and accordingly expense transferred to General Corporate Expanses.

b. The members of the Company had, at its Annual general Meeting held on 29th September, 2020 approved "variation in the terms of the Object of the public issue as stated in the prospectus of the Company dated 11th Septemb

3 The above results were reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on October 30, 2020. The Limited Review for thequarter and half year ended 30 September, 20

• The chief operating decision maker (CODM) comprises of the Board of Directors ,Chief operating officer & Chief financial officerbasis of single operating segment Electronics Goods; accordingly segment disclosure has not b which mines the Company's performance on the
• Figures of the previous periods have been regrouped /rearranged, wherever necessary $\overline{\mathbf{5}}$

Place: NoidaDate: 30.10.2020

$25010$ $B-14.15$ Phuse-II. Noida $\mathcal{L}$ $\frac{1}{\sqrt{2}}$

For DIXON TECHNOLOGIES (INDIA) LIMITED 8Atul.B.Lail

Managing DirectorDirector Identification Number: 00781436

DIXON TECHNOLOGIES {INDIA) LIMITED

REGISTERED OFFICE B14 & 15,PHASE II, NOIDA UTTAR PRADESH-201305

CIN : L32101UP1993PLC066581, Website: www.dixoninfo.com CONSOLIDATED BALANCE SHEET AS AT 30TH SEPTEMBER, 2020

			(Rs. in Lakhs unless otherwise stated)
		As at30-Sep-2020Unaudited	As at31-Mar-2020Audited
ASSETS
	Non-Current Assets
a.	Property, plant and equipment	31,084	31,138
b.c.	Capital work-in-proqressIntanqible assets	2,049396	955437
d.	Riqht of use assets	8,620	9,017
e.	Goodwill	817	817
f.	Financial assetsi.Other financial ;issets	1,042	912
a.	Deferre <l (net)<="" assets="" tax="" td="">2325	23	25
h.	Other non-c:urrent assets	3 51247 543	1 80345 104
	Current Assets
a.	Inventories	51,503	49,783
b.	Financial assets
	Investmentsi.Trade rec:eiv;ihlesii.	1,0001,06,916	51,512
	iii.Cash ;ind cash eauivalents	5,988	9,566
	Bank balances other than cash and cashiv·equivalents	441	450
	v.Other financial assets	1,609	3,126
C.	Other current assets	12,645	10,000
d.	Current ta x assets	3331,80,435	1811,24,618
	TOTAL ASSETS	2,27,978	1,69,722
	EQUITY AND LIABILITIES
Equity
a.	Equity share capital	1,157	1,157
b.	Other equity	58 44159 598	52 97654 133
	Liabilities
	Non-Current Liabilities
a.	Financial liabilities:
	i.Borrowinqs	3,506	1,102
	iiTrade Payables
b.	iiiOther Financial LiabilitiesProvisions	8,605712	8,836650
c.	Deferred tax liabilities (Net)	1,462	1,502
d.	Other non-current liabilities	96	100
	Current Liabilities	14 381	12,190
a.	Financial liabilities:
	i.Borrowinqs	5,411	7,180
	ii.Trade payables- Total outstanding dues of Micro
	and small	3,950	1,759
	- Total outstandinq dues of others	1,37,626	92,147
b.	iii.Other financial liabilitiesOtl1er current liabilities	1,6294,342	1,218
c.	Provisions	944	539439
d.	Current tax liabilities	97	117
		1,53,999	1,03,399
	TOTAL EQUITY AND LIABILITIES	2 27	1,69,722
			. ·;---::.' -''; ·:

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orXON TECHNOLOG[ES (INDIA) UMITED REGISTEI\ED OFFICE

614 & 15,PHASE 11 , NOIDA UTTAR PRADESH-201305

CIN : L32101UP1993PLC0665B1, Website: www.dlxoninfo.com CONSOLIDATED CASH FLOW STATEMENT

		(Rs, in L.:ikhs unless otherwise stated)
		Half Year endedJQ Ss:t2li:a:Jbt[1 2Q2QUnaudited	Year endedJl. Milcs:ib, 2Q2QAudited
	A. Cash flow from opcratinQ activities
	Profit before tax	7,397	15,677
	Adjustments for :
	Deo reciation and amortisation exoenseFinance costs	2.0171,260	3,6533,497
	(Gain) /loss on Exchanae fluctuation on borrowlnQs		244
	Provision for imoalrment of orooertv. plant and eouioment	120	240
	Interest income	(38 )	(275)
	Provision for doubtful debts/ loans and advances written back	(3)	(227)
	(Profit1/Loss on sale of orooertv, olan t and eouioment	29	JO
	Excess liabilities, credit balances, orovislons etc. written back		(1)
	Share based oavment of employees	90	568
	Bad debts write offFair value qaln on mutual funds	3	394
		110,874	323,797
	Changes in workinq capital
	Adiustments for (Increase) / decrease in ooerntina assets:
	Inventories	(1,7191	(6,686)
	Trade receivables
	- non current		29,478
	• current	(55,404)	7,921
	Other financial assets
	- non current	(130)	[368)
	• current	1.516	(980)
	Other assets- non current
	• current	(2,646)	6(1,519)
	Adjustments for increase/ (decrease) in ooeratino liabilities:
	Trade oavables
	- non current		[31,556)
	- current	47,683	10,487
	Provisions
	- non current	62	179
	- current	sos	106
	Other liabilities- non current	(4)	(6)
	- current	3,802	(2,408)
	Other financial liabilities	550	(421)
	Cash generated from operating activities	5 089	28 030
	Income tax oaid ( net)	(2 202!	(4,294)
	Net cash qenerated froml(used inl operatinq activities	2 887	23 736
	B. Cash flow from investinq activities
	Caoltal exoendlture on orooertv, plant and caulomcnt andSale proceeds of property, plant and equipment	(4,539)	[10,973)
	Purchase of investments	(1,000)	163
	Purchase of share of Jo int Control Entities		(2,700)
	Sale of investments of Mutual fund		1,521
	Income from mutual funds	1	3
	(Increase) / decrease in bank balance not considered as cash and cash	9	1,779
	eouivalent (net)
	Interest income received	38	275
	Net cash generated from/(uscd inl investinq activities	(5,491)	(9,932)
	C. Cash flow from financing activities
	Interest paid	(1,448)	(3,775)
	Proceeds from issue of share		4,569
	Proceeds from Non current borrowinas	2.243	114
	Proceeds/ (reoavment) of short term borrowinQs	[1,769)	[5,814)
	Dividend oaid		[689)
	Payment of dividend distribution tax		142
	Net cash Qenerated from/Cused inl financing activities	(974)	(5,737)
	Net increase/(decreasel in cash and cash equivalents (A+O+C)Cash and cash eoulvalents at the beolnnino or the vear	(3,578)	8,067
	Cash on acauisition of Stake in Joint venture	9,566	1,443
	Cash and cash equivalents at the end of Period/ year	5,9!!!!	562.~~6

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