Dollar Industries Limited — Annual Report 2019

May 27, 2019

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The Secretary, National Stock Exchange of India Ltd., Exchange Plaza, S'hFloorJ'lotNo. C/l, 'G' Block, Bandra-Kurla Complex, Bandra (E), Mumbai — 400 05].

Dear Sir,

Code- DOLLAR

Reg: Outcome of Board Meeting.

The Board of Directors of the Company in its meeting held on date i.e. 27'h May, 2019 has transacted the following business:

• 1. Approved the Audited Annual Accounts (both standalone & consolidated) for the financial year ended on 315' March, 2019.
• ²¹ Approved Standalone Audited Financial Results for the quarter and year ended on 31" March, 2019 along-with Auditor's Report and Declaration for audit report with unmodified opinion and also approved Consolidated Audited Financial Results for the year ended on 315' March, 2019 along—with Auditors' Report and Declaration for audit report with unmodified opinion and pursuant to Regulation 30(6) and ³³ of SEBI (Listing Obligations and Disclosure Requirements) Regulations, ²⁰¹⁵ the same is enclosed as Annexure 1.
• 1. Recommended ^a Dividend @ 85% Le. Rs.1.70 per Equity Shares of the Face Value Rs. 2/ each fully paid—up, of the Company for the financial year 2018-19 and the Dividend would be paid within ³⁰ days from the date of approval of the Shareholders in the ensuing Annual General Meeting (AGM).
• 1. Approved Directors' Report and Notice for the Annual General meeting for the fly 2018-19. The Annual General meeting scheduled to be held on 30th August, 2019.
• St The record date has been fixed as 23rd August, ²⁰¹⁹ for the purpose of e—voting and payment of Dividend for the financial year 2018-19 to the shareholders.

Please note that the meeting commenced at 1:00 P.M. and concluded at 5.00 P.M.

This may please be informed to the all concerned.

Thanking You, Yours faithfully,

For ^D llar Industries Ltd.

Ab is e'k islir Company ec're'taryl Encl : As Above

Chartered Accountants

161, SARAT BOSE ROAD, KOLKATA-700 026, (INDIA) © : +91(0)33<24]9 6000/01/02 - Evmail : kolkata@singhico.com 'Website : wwwsinghicotcom

Independent Auditor's Report on Quarterly Financial Results and Year to Date Standalone Financial Results of Dollar Industries Limited pursuant to regulation 33 of SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015, as amended.

To, The Board of Directors, Dollar Industries Limited

• 1. We have audited the accompanying Standalone financial results ("the Statement') of M/s. Dollar Industries Limited for the quarter and the year ended 31" March, 2019, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulation'),read with SEBI Circular No. CIR/CFD/FAC/GZ/ZOlG dated July 5, 2016 ('the Circular') Attention is drawn to the fact that the figures for the quarter ended March 31, 2019 and the corresponding quarter ended in the previous year as reported in the Statement are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the current and previous financial year respectively. Also, the figures up to the end of the third quarter had only been reviewed and not subjected to audit.
• 1. The Statement has been prepared on the basis of annual audited financial statements and reviewed quarterly Standalone financial results upto the end of third quarter which is the responsibility of the Company's management. Our responsibility is to express an opinion on these Statement based on our review of such Standalone financial results for the nine month period ended 31" December, 2018, which was prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting, specified under Section 133 of the Companies Act, 2013 ('the Act') read with relevant rules issued there under and other accounting principles generally accepted in India; our audit of the annual standalone Ind AS Financial Statement as at and for the year ended 31:: March, 2019; and the relevant requirements of the Regulations and the circular.
• 1. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Statement is free of material misstatement. An audit includes examining, on ^a test basis, evidence supporting amounts disclosed in the statement, An audit also includes assessing the accounting principles used and significant estimates made by the management. We believe that audit evidence we have obtained is sufficient and appropriate to provide ^a basis for our audit opinion.

Opinion

• 1. Based on our audit conducted as above, in our opinion and to the best of our information and according to the explanations given to us, these quarterly standalone financial results as well as the year to date results:
• a) are presented in accordance with the requirements of Regulation ³³ of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 and SEBI circular dated 5"I July 2016 in this regard; and
• b) gives ^a true and fair view of the financial performance including other comprehensive income and other financial information for the quarter ended and year ended 31" March 2019.

For Singhi & Co Chartered Accountants Firm Registration No.302049E

Ramon; l" fiQRl-P;

'—

(Shrenik Mehta) Partner Membershlp No' 063769

Place: Kolkata Dated: 27th May 2019

MUMBAl '

NEW DELHI '

BANGALORE '

CHENNAI -

AHMEDABAD

Singhi oz C0.

Chartered Accountants

161, SARAT BOSE ROAD. KOLKATA—700 026. (INDIA) © : +91(0)33-2419 6000/01/02 ' E-mail : kolkata@smghico.com ° Website : wwwsinghicocom

Independent Auditor's Report on Consolidated Year to Date Financial Results of Dollar Industries Limited pursuant to regulation ³³ of SEBI (Listing Obligation and Disclosure Requirement) Regulatlon 2015, as amended.

To,

The Board of Directors, Dollar Industries Limited

• 1. We have audited the consolidated financial results ('the Statement') of M/s. Dollar Industries Limited ('the Company) and its Joint Venture for the year ended 31" March, 2019, attached herewith, being submitted by the Company pursuant to the requirement of Regulation ³³ of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulation'), read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated July 5, ²⁰¹⁶ ('the Circular'). This Statement is the responsibility of the Company's management and has been approved by the Board of Directors in their meeting on 27'" May 2019.
• 1. The statement has been prepared on the basis of annual consolidated financial statements which are responsibility of the Company's management. Our responsibility is to express an opinion on these statement based on our audit of such Consolidated financial Statements, which has been prepared by the management in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS), prescribed under Section ¹³³ of the Companies Act, ²⁰¹³ ('the Act') read with relevant rules issued there under, other accounting principles generally accepted in India; and in compliance with requirement of Regulation ³³ of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.
• 1. We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Statement is free of material misstatement. An audit includes examining, on ^a test basis, evidence supporting amounts disclosed in the statement. An audit also includes assessing the accounting principles used and significant estimates made by the management. We believe that audit evidence we have obtained is sufficient and appropriate to provide ^a basis for our audit opinion.

Opinion

• 1. Based on our audit conducted as above, in our opinion and to the best of our information and according to the explanations given to us, the statement for the year includes:
• a) Includes the financial results of entity given below: List of Joint Venture: Pepe Jeans Innerfashion Private Limited
• b) is presented in accordance with the requirements of Regulation ³³ of the SEBI (Listing Obligation and Disclosure Requirements) Regulations ²⁰¹⁵ and SEBI circular dated 5m July 2016In this regard, and
• c) gives ^a true and fair view of the consolidated financial performance including other comprehensive'Income and other financial information for the year ended 31" March ²⁰¹⁹ and also the statement of assets and liabilities as at 31" March 2019,In accordance with accounting principles generally accepted'In India.

Other Matters:

Attention is drawn to the following:

1. The Consolidated Ind AS financial results Includes the Company's share of net loss of Rs. 163.05 Iakhs for the year ended 31" March, ²⁰¹⁹ as considered in the consolidated Ind AS Financial Results in respect of one joint venture, whose financial statements/financial information have not been audited by us. These financial statements/financial information have been audited by other auditors whose reports have been furnished to us by the management and our opinion on the consolidated Ind AS financial statement; in so far as it relates to the amounts and disclosures included in respect of the joint venture is based solely on the report of other auditors.

Our opinion is not modified in respect of above matters.

For Singhi & Co Chartered Accountants Firm Registration No.302049E

Fbrani l' He'd" (Shrenik Mehta) Partner Membership No. 063769

Place: Kolkata Dated: 27th May 2019

MUMBA] - NEW DELHI - BANGALORE . CHENNAI -

Dollar Industries Ltd.

NJ ' ¹ am we v'iF'lTlHC WW

Statement of Audited Financial Results for the Quarter and Year ended March 31, ²⁰¹⁹

		Standalone					R in Lakhs) Consolidated
		uarter ended			Year ended		Year ended	Year ended
		31-03-2019	31-12-2018	31-03-2018	31-03-2019	31-03-2018	31-03-2019	31-03-2018
SN	Particulars	(Audited)	(Unaudited)	(Audited)	(Audited)	(Audited)	(Audited)	(Audited)
I	Revenue from operations	29 779.68	24 452.80	27 222.33	1,02,87552	92 555.34	1 02 875.52	92,555.34
11	Other Income	70.44	109.80	75.96	220.96	200.54	220.96	200.54
111	Total income (1+H)	29,850.12	24,562.60	27,298.29	1,113,096.48	92,755.88	1,03,096.48	92,755.88
IV	Expenses :
	Cost ofmateriais consumed	11,216.11	11,210.80	10,674.42	47,461.14	46 870.02	47 461 . 14	46,870.02
	Changes in inventories of finished goods. work-in-progress
	and stockin—trade	2,806.58	(1,464.38)	897.92	(4,107.42)	(6,276.74)	(4,107.42)	(6 276.74)
	Employee benefits expense	918.28	852.11	793.44	3,362.58	2 642.20	3,362.58	2,642.20
	Finance costs	489.20	389.24	352.81	1,573.94	1,788.80	1,573.94	1,788.80
	Depreciation and amortization expense	267.51	309.28	307.72	1 109.57	1 217.37	1,109.57	1,217.37
	Sub-contract expenses	5 573.46	4,678.77	6,226.17	21 107.20	19 116.00	21,107.20	19,116.00
	Other expenses	5,825.16	5,494.49	5,407.26	21,485.93	17 817.40	21,485.93	17,817.40
	Total expenses (IV)	27,096.30	21,470.31	24,659.74	91,992.94	83,175.05	91,992.94	83,175.05
V	Profit before exceptional items & tax (III-IV)	2,753.82	3,092.29	2,638.55	11,103.54	9,580.83	11,103.54	9,580.83
V1	Exceptional Items	-	-	-	-	~	-	-
	VII Profit before tax (V-VI)	2,753.82	3,092.29	2,638.55	11,103.54	9,580.83	11,103.54	9,580.83
	VIII Tax expenses
	(1) Current tax (including earlier ygars)	608.59	1,101.04	896.32	3,645.73	3,386.32	3,645.73	3 386.32
	(2) Deferred tax	(110.73)	55.28	(121.96)	(67.61)	(207.12)	(67.61)	(207.12)
	Total tax expenses (1+2)	497.86	1,156.32	774.36	3,578.12	3,179.20	3,578.12	3,179.20
IX	Profit after tax (VII-VIII)	2,255.96	1,935.97	1,864.19	L525.42	6,401.63	7,525.42	6,401.63
	Less: Share of Loss in Joint Venture						(163.05)	(38.13)
X	Profit for the year	2,255.96	1,935.97	1,864.19	7,525.42	6,401.63	7,362.37	6,363.50
Xl	Other comprehensive income (net of tax)	14.69	-	26.37	61 .50	23.44	61.50	23.44
	XII Total Comprehensive income for the period (X+XI)	2,270.65	1,935.97	1,890.56	7,586.92	6,425.07	7,423.87	6,386.94
	X111 Paid-up equity share capital (of? 2/- each)	1,134.32	1,134.32	1,134.32	1,134.32	1,134.32	1,134.32	1,134.32
	XIV Other equity				40,634.87	34,140.15	40,433.69	34,102.02
	XV Earnings per equity share (of ? 2/- each)
	(1) Basic (e)	3.93	3.41	3.29	13.27	11.60	12.98	11.53
	(2) Diluted R)	3.98	3.41	3.29	13.27	11.60	12.98	11.53

Notes:

1) The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 27, 2019.

• 2) As the Company's business activity falls within ^a single significant primary business segment i.c. "Garment & Hosiery and related service", no separate segment information is disclosed. These, in the context of Ind AS ¹⁰⁸ on Operating Seynents Reporting are considered to constitute one segment and hence, the Company has not made anv additional segment disclosures.
• 3) These financial results have been prepared in accordance with Indian Accounting Standards (1nd AS), prescribed under section ¹³³ of the Companies Act, ²⁰¹³ read with Rule ³ of the Companies (Indian Accounting Standards) Rule, 2015 and relevant amendments thereafter.
• 4) The Company has adopted Ind AS 115— "Revenue from Contracts with Customers" which is mandatory for the reporting periods beginning on or after April 1, 2018. In terms of the requirement of Ind AS 115. Revenue is recognised net of trade schemes and incentives payables. Revenue for comparative periods have adjusted to confirm to current period classification.
• 5) The Board of Directors of the Company has recommended ^a dividend @ 85% ( Rs. 1.70) per equity share of face value Rs. 2/- each (fully paid up).
• 6) The figures for the quarter ended March 31. 2019 and the corresponding quarter ended in the previous year as reported in the Statement are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the end of third quarter of the current and previous financial vear resoectivelv.
• 7) Statement of Assets and Liabilities is annexed herewith.
• 8) The Company does not have any exceptional item during the above period.
• 9) Figures for the previous periods have been regrouped and reclassified to conform to the classification of the current period, wherever considered necessary.

Date : May 27, ²⁰¹⁹ ( maging Director)

Place : Kolkata Vino Kumar Gupta

Ham, 01w Om Towe'r 15th Floor ³² J. L. Nehru Road Kolkata ^{~ 700 071} India 1': ²²⁸⁸ 4064.66 2? (033) ²²⁸⁸ 406 DIN: ^{00377949 E} Care@dollarg10bal.in, W www.doltarg|0bal,in

Dollar Industries Ltd.

K309) 071

AN 137' 91101

Statement of Assets and Liabilities

				Standalone	Consolidated	(? in Lakhs)
			31-03-2019 31-03-2018		31-03-2018 31-03-2019
	SN Particulars		(Audited)	(Audited)	(Audited)	(Audited)
A	ASSETS
	(1) Non-current assets
	(a) Property, Plant and Equipment		7,009.27	6,834.40	7,009.27	6,834.40
	(b) Capital work-in—progress		202.59	213.02	202.59	213.02
	(c) Other Intangible assets		10.89	6.27	10.89	6.27
	(d) Investment in Joint Venture		700.00	300.00	498.82	261.87
	(e) Financial Assets
	(i) Investments		85.28	75.28	85.28	7528
	(ii) Loans		55.07	57.46	55.07	57.46
	(iii) Others financial assets		68.00 44]	67.71	68.00	67.71
	(1) Other non-current assets			9.32	4.41 285.18	9.32 25.31
	(g) Non-current tax assets (net)	Non-current assets	285.18	25.31		7,550.64
			8,420.69	7,588.77	8,219.51
	(2) Current assets		32,456.71	28,289.55	32,456.71	28,289.55
	(at) Inventories
	(1)) Financial Assets (ii) Trade receivables		34,761.76	27,170.70	34,761.76	27,170.70
	(iii) Cash and cash equivalents		2,073.47	1,935.71	2,073.47	1,935.71
	(iv) Bank balances other than(iii) above		79.91	25.70	79.91	25.70
	(v) Loans		22.25	66.93	22.25	66.93
	(vi) Others financial assets		142.74	175.99	142.74	175.99
	(c) Other current assets		3,040.15	2,094.01	3,040.15	2,094.01
		Current assets	72,576.99	59,758.59	72,576.99	59,758.59
		TOTAL ASSETS	80,997.68	67,347.36	80,796.50	67,309.23
B	EQUITY AND LIABILITIES (1) Equity (3) Equity Share capital (1)) Other Equity	TOTAL EQUITY	1,134.32 40,634.87 41,769.19	1,134.32 34,140.15 35,274.47	1,134.32 40,433.69 41,568.01	1,134.32 34,102.02 35,236.34
	(2) LIABILITIES
	Non-Current Liabilities
	(a) Financial Liabilities
	(i) Borrowings		349.30	4,498.19	349.30	4,498.19
	(13) Provisions		208.90	222.08	208.90	222.08
	(c) Deferred tax liabilities (Net)		7.93	42.51	7.93 -	42.51
	(d) Other non-current liabilities		-	2.93		2.93
		Non-Current Liabilities	566.13	4,765.71	566.13	4,765.71
	Current Liabilities
	(a) Financial Liabilities				20,767.13	12,498.38
	(i) Borrowings		20,767.13	12,498.38
	(ii) Trade payables dues of creditors micro enterprises	and small enterprises	10.60	—	10.60	-
	Total outstanding Total outstanding dues of creditors other than micro and small enterprises		14,737.93	1 1,271.68	14,737.93	1 1,271.68
	(iii) Other financial liabilities		2,636.47	2,592.98	2,636.47	2,592.98
	(b) Other Current Liabilities		377.40	259.93	377.40	25993
	(c) Provisions		1.81	6.13	1.81	6.13
			131.02	678.08	131.02	678.08
	(d) Current Tax Liabilities (Net);	Current Liabilities	38,662.36	27,307.18	38,662.36	27,307.18
	\ 1 ,
	M /. OTAL EQUITY I! l V Place: Kolkata ,,?/	AND LIABILITIES	80,997.68	67,347.36		30,79m09.23 / V

^E Care@do|larglobal.in, W vwvwdollarglobalin

27.05.2019

The Secretary, National Stock Exchange of India Ltd., Exchange Plaza, Sthloor,Plot No. C/l, 'G' Block, Bandra—Kurla Complex, Bandra (E), Mumbai — 400 051.

Dear Sir,

Code- DOLLAR

Reg: Declaration with respect to Standalone Audit Report with un-modified opinion

Pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, ²⁰¹⁵ and SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, ²⁰¹⁶ we hereby declare that M/s. Singhi & Co., Chartered Accountants, Statutory Auditors of the Company have not expressed any modified opinion(s) on the audited standalone financial results for the financial year ended on 315' March, 2019.

Kindly take the above information on record.

Thanking You,

Yours faithfully,

For Industri imited '.' ^V

D31"

Vinod Kumar G Managing Direc r DIN: 00877949

27.05.2019

The Secretary, National Stock Exchange of India Ltd., Exchange Plaza, S'hFloor,Plot No. C/l, 'G' Block, Bandra-Kurla Complex, Bandra (E), Mumbai — 400 051.

Dear Sir,

Code- DOLLAR

Reg: Declaration with respect to Consolidated Audit Report with un-modified opinion

Pursuant to Regulation 33(3)(d) of the Securities & Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, ²⁰¹⁵ and SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, ²⁰¹⁶ we hereby declare that M/s. Singhi & Co., Chartered Accountants, Statutory Auditors of the Company have not expressed any modified opinion(s) on the audited consolidated financial results for the financial year ended on 31St March, 2019'

Kindly take the above information on record.

Thanking You,

Yours faithfully,

For wa Industries

Vinod Kumar Gupta Managing Director DIN: 00877949