Dixon Technologies (India) Limited — Interim / Quarterly Report 2022

Jul 27, 2021

Dixon Technologies (India) Ltd.

27th July, 2021

To	To
Secretary	Secretary
Listing Department	Listing Department
BSE Limited	Nationa l Stock Excha nge of In dia Limited
Department of Corporate Services	Exchange Plaza, Bandra Kurla Complex
Phiroze Je ejeebhoy Towers,	Mumbai - 400 051
Dala l Street, Mumbai - 400 001
Scrip Code - 540699	Scrip Code- DIXON
!SIN: INE9 35 N01020	!SIN: INE9 35 N010 20

Dea r Sir/Madam,

Sub: Outcome of Board Meeting

In furthera nce to our intima tion dated 20th July, 2021, we hereby in form you th a t the Board at its Meeting held today i.e. 27th July, 2.021, inter-a lia considered and ap proved, the fo ll owing businesses:

i. Un-Audited Financial Results (Standalone and Consolidated) of the Company for the Quarter ended 30th June, 2021 .

Followi ng a re the key highlights on consoli da ted basis:

1 Particulars	Quarter ended 30.06.2021
I	Amount	Up/Down	As compared to the
	( In Rs. Lakhs)	(1'/-!-)
1 RevenuefromOperations	1,86,729	1' 261%	_o rrespondingtheoeriodof
EBIDTA	4,827	1' 182%	µrevious year
PBT	2,410	1' 1016%
PAT---	1,816	1' 1035%

Th e detail ed format of th e Un-Aud ited Financial Results (Standalone a nd Conso lidated) together with the Limited Review Report is e nclosed for your records. A copy of the same is a lso up loaded on the Compan y's Website www.dixoninfo.com .

Regd. Office: B-14 & 15, Phase-II, Noida - 201 305, (U.P.) India, Ph. : 0120-4737200 E-mail: info@dixoninfo.com •Website: http://www.dixoninfo.com, Fax : 0120-4737263 CIN: L32101UP1993PLC066581

Further, an extract of the aforestated Financial Results/Statements shall be published in the manne r as prescribed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201 5.

Time of Commencement of Board Meeting: 11:30 AM. Time of Conclusion ofBoard Meeting: 01:50 P.M

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

Thanking You,

For DIXON TECHNOLOGIES (INDIA) LIMITED

. l,gA Ash umar (Gro ompany Sec egal & HR) Encl: as above

S.N. Dhawan & CO LLP

Tel: +91124 481 4444

LIMITED REVIEW REPORT ON UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE, 2021

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 ended 30 June, 2021 ("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, 2013 ("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. 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 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.
• 4. 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 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 S.N. Dhawan & CO LLP Chartered Accountants

Vinesh Jain ': NEW DEL Partner ~\ -Membership No.: 087701 ~ UDIN No.: 21087701AAAAEU9806 A

Place: New Delhi Date: 27 July, 2021

DIXON TECHNOLOGIES (INDIA) UMITED REGISTERED OFFICE B14 & 15,PHASE II, NOIDA UTTAR PRADESH-201305 CIN : L32101UP1993PLC066581, Website: www.dixonlnfo.com

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2021

		(Rupees in Lakhs)
	S.No. Particulars		Quarter ended		Year ended
		30-Jun•21	31•Mar·21	30-Jun-20	31-Mar-21
		Unaudited	Audited	Unaudi•""	Audited
1	Revenue from operations	1,53,096	1,83,901	46,578	5,67,460
2	Other Income	35	165	25	239
3	Total income f1+2l	1 53 131	1,84 066	46 603	5 67 699
4	Expenses
	a) Cost of materials consumed	1,45,774	1,69,654	35,981	5,06,070
	b) Changes in Inventories of finished goods, work-In-progress andstock-In-trade	(4,303)	(4,644)	4,893	119
	C) Employees benefits expense	3,070	3,970	1,835	12,549
	d) Finance costs	691	600	556	2,591
	el Depreciation and amortisation expense	1,134	1,072	806	3,846
	In Other exnensesTotal expenses	4 3521,50,7 18	7 2481,77,900	2 29246,363	21 9085,47,083
	Profit before exceptional items and tax	2,413	6,166·	240	20,616
5	Exceptional items	-	-	-	-
6	Profit before tax	2,413	6,166	240	20,616
7	Tax expenses (Net)
	a) Current tax	674	1,517	100	5,344
	b) Deferred tax	(83)	321	(42)	199
	c) Income tax related to earlier years	-	(124)	-	(124)
	Total Tax Expenses	591	1,714	58	5,419
8	Net Profit for the period/year (6·7)	1,822	4,452	182	15,197
9.	Other Comprehensive Income ('OCI')
	a) Items that will not be reclassified to Profit or Loss (net of tax)	(lY	26	(11)	(7)
	b) Items that will be reclassified to Profit or Loss (net of tax)	-	2	-	2
10	Total Comprehensive Income	1,821	4,480	171	15,192
11	Paid-up equity share capital (Face value per share Rs. 2 / -)	1,171	1,171	1,157	1,171
12	Other equity excluding revaluation reserve				69,061
13	Earning per share of Rs. 2/· each (not annualised)
	(a) Basic (Rs.)	3.11	7.66	0.31	26.14
	(b) Diluted (Rs.)	3.01	7.49	0.31	25.56

Notes:

1 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 the companies (Indian Accounting Standards) Rules 2015 and relevant amendment thereafter.

2 The above financial results have been reviewed by th!! Audit Committee and approved by the Board of Directors in their respective meetings held on July 27, 2021.

3 During the quarter, Dixon Devices Private Limited has been incorporated, as wholly owned subsidiary of the Company.

4 The Chief Operating Decision Maker (CODM) comprises of the Board of Directors ,Managing Director cum Vice chairman & Chief Financial Officer which examines the Company's performance on the basis of single operating segment Electronics Goods; accordingly segment disclosure has not been made.

• 5 The Code on Social Security, 2020 ('Code') relating to employee benefits, during employment and post-employment benefits, has received the Presidential assent in September 2020. This Code has been published in the Gazette of India. However, the effective date from which the changes are applicable Is yet to be notified and the rules for quantifying the financial impact are also yet to be Issued. The Company will evaluate the Impact of the Code and will give appropriate impact In the financial statements In the period in which the Code becomes effective and the related rules are published.
• 6 Pursuant to the approval of the shareholders accorded on March 7, 2021 vide postal ballot conducted by the Company, each equity share of face value of Rs. 10/- per share was subdivided into five equity shares of face value of Rs. 2/- per share, with effect from March 19, 2021. Consequently, the basic and diluted earnings per share have been computed for all the periods presented In the Standalone Financial Results of the Company on the basis of the new number of equity shares in accordance with Ind AS 33 - Earnings per Share
• 7 The Company has made an assessment of the impact of the continuing Covid-19 pandemic on Its current and future operations, liquidity position and cash flow giving due consideration to the internal and external factors. The Company is continuously monitoring the situation and does not foresee any significant Impact on its operations and the financial position as at 30th June 2021 .
• 8 The figures for the quarter ended 31st March 2021 are the balancing figures between audited fi unaudited published year-to-date figures upto 31st December 2020 which were subjected to limited ct of full financial year and the
• 9 Figures of the previous periods have been regrouped /rearranged, wherever necessary

41}.

Place : Noida Date : 27.07.2021

S.N. Dhawan & CO LLP

Chartered Accountants

421 , II Floor, Udyog Vlhar Phase IV, Gurugram, Haryana 122016, India

Tel: +91124 481 4444

LIMITED REVIEW REPORT ON UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE, 2021

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

• 1. We have reviewed the accompanying statement of unaudited consolidated 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 ventures for the quarter ended 30 June, 2021 ("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) 241 O 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. 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 substantially less in scope than an audit conducted in accordance with Standards on Auditing 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.

	Name of the Company	Relation	Percentageofownership interest
	AIL Dixon Technologies Private Limited	Joint venture	50%
	Padget Electronics Private Limited	Subsidiary	100%
	Dixon Global Private Limited	Subsidiary	100%
	Dixon Electro Appliances Private Limited	Subsidiary	100%
	Dixon Electro Manufacturing Private Limited	Subsidiary	100%
	Dixon Technologies Solutions Private Limited	Subsidiary	100%
	Devices Private LimitedV-4 ,_.__(J •"T~o'\	Subsidiary	100%
I t'~ Deihl 1 0001 ,	1r---,., ""'""' """""'"" "'"· "It:~	'",,._,.,, ~",	-"·.,, "'"''"""~

1. The Statement includes the results of the following entities:

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, 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 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.
• 1. We did not review the financial results of two subsidiaries included in the Statement, whose financial results reflect total revenues of Rs. 27, 182 lakhs, total net loss after tax of Rs. 152 lakhs and total comprehensive loss of Rs. 152 lakhs, for the quarter ended 30 June 2021, as considered in the Statement. These financial results 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.: 000050N/N500045

Vinesh Jain

Partner Membership No.: 087701 UDIN No.: 21087701AAAAEV4058

Place: New Delhi Date: 27 July, 2021

DIXON TECHNOLOGIES (INDIA) LIMITED

REGISTERED OEEJCE 814 & 15,PHA5E II, NOIDA

UTTAR PRADESH-201305

CIN : L32101UP1993PLC066581, Website : www.dlxonlnfo.com STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE OUARTER ENDED 30TH JUNE. 2021

S.No.	Particulars	Quarter ended			(Rupees In l.Jlkhs)Year Ended
		30-Jun-21	31-Mar-21	30-Jun-20	31-Mar-21
		Unaudited	Audited	Unaudited	Audited
12	Revenue from operationsOther Income	1,86,72938	2,10,97198	51,69421	6,44,817158
3	Total Income (1+2)	1,86,767	2,11,069	51,715	6,44,975
4	Exoensesa) Cost of materials consumed	1,77,172	1,94,198	38,400	5,75,341
	b) Changes In inventories of finished goods, work-In-progressand stock-in-tradeC) Employees benefits expensed) Finance costse) Depreciation and amortisation expensef) Other expenses	(4,258)3,6139131,5045,413	(4,599)4,3747131,2299,017	7,1001,9775699252,528 "	1,63113,7072,7444,37225,479
	Total expenses	1,84,357	2,04,932	51,499	6,23,274
5	Profit before exceptional Items and tax	2,410	6,137	216	21,701
	Exceptional Items	-	-	-	-
6	Profit before tax	2,410	6,137	216	21,701
7	Tax expenses (Net)a) Current taxb) Deferred taxc) MAT credit entitlement. d) Income tax related to earlier years	707(143)30-	1,3934246(112)	108(58)-6	5,464402(39)(106)
	Total Tax Expenses	594	1,711	56	5,721
8	Net Profit for the period/year (6-7)	1,816	4,426	160	15,980
9	Other Comprehensive Income ('OCI')a) Items that will not be reclassified to Profit or Loss (net of tax)b) Items that will be reclassified to Profit or Loss (net of tax)	(1)	24	(10)-	(7)
			2		2
10	Total comprehensive Income	1,815	4,452	150	15,975
11	Paid-up equity share capital (Face value per share Rs.2/-)	1,171	1,171	1,157	1,171
1213	Other equity excluding revaluation reserveEarning per share of Rs, 2/- each (not annualised)	-	-	-	72,559
	(a) Basic (Rs.)	3.10	7.61	0.28	27.49
	(b} DIiuted (Rs.)	3.00	7.44	0.27	26.87

Notes:

•

• These financial results have been prepared in accordance with Indian Accounting Standards (Ind-AS} as prescribed und!!r section 133 of Companies Act, 2013 read with Rule 3 of the companies (Indian Accounting Standards) Rules 2015 and relevant amendment thereafter.
• 2 The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors In their respective meetings held on July 27, 2021.
• 3 During the quarter, Dixon Devices Private Limited has been Incorporated, as wholly owned subsidiary of the Company.
• 4 The Chief Operating Decision Maker (CODM) comprises of the Board of Directors ,Managing Director cum Vice chairman & Chief Financial Officer which examines the Group's performance on the basis of single operating segment Electronics Goods; accordingly segment disclosure has not been made.
• 5 The Code on Social Security, 2020 ('Code') relating to employee benefits, during employment and post-employment benefits, has received the Presidential assent In September 2020. This Code has been published In the Gazette of India. However, the effective date from which the changes are applicable Is yet to be notified and the rules for quantifying the financial impact are also yet to be issued. The Group will evaluate the Impact of the Code and will give appropriate impact in the financial statements in the period In which the Code becomes effective and the related rules are published.
• 6 Pursuant to the approval of the shareholders accorded on March 7, 2021 vlde postal ballot conducted by the Holding Company, each equity share of face value of Rs. 10/- per share was subdivided Into five equity shares of face value of Rs . 2/- per share, with effect from March 19, 2021. Consequently, the basic and diluted earnings per share have been computed for all the periods presented in the Consolidated Financial Results of the Company on the basis of the new number of equity shares In accordance with Ind AS 33 - Earnings per Share
• 7 The Group has made an assessment of the Impact of the continuing Covld-19 pandemic on Its current and future operations, liquidity position and cash flow giving due consideration to the internal and external factors. The Group Is continuously monitoring the situation and does not foresee any significant Impact on its operations and the financial position as at 30th June 2021.
• 8 The figures for the quarter ended 31st March 2021 are the balancing figures between audi unaudited published year-to-date figures upto 31st December 2020 which were subjected to Ii respect of full financial year and the

9 Figures of the previous periods have been regrouped /rearranged, wherever necessary

<9--

Atul.f.Lall Vice Chairman & Managing Director Director Identification Number : 00781436