Dynamatic Technologies Ltd. — Annual Report 2022

May 25, 2022

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May 25, 2022

1. The Secretary Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street, MUMBAI 400 001.

2. The Secretary National Stock Exchange of India Limited “Exchange Plaza” Bandra-Kurla Complex Bandra East, MUMBAI 400 051.

Sub: Board Meeting Outcome

Ref: Scrip code: NSE: DYNAMATECH; BSE: 505242

Dear Sir,

In further to our letter dated 18[th] May 2022, we write to inform that the significant matters arising out of the Board Meeting held today i.e., 25[th] May 2022 at Dynamatic Limited, Swindon, United Kingdom, are as appended hereunder:

1. The Board considered and approved the Standalone and Consolidated Audited Financial Results for the quarter and year ended 31[st] March 2022. Copy of the audited financial results has been enclosed.

2. We hereby declare that the Independent Auditors’ report on the Annual accounts of the Company for the year ended 31[st] March 2022, issued by M/s Deloitte Haskins & Sells, LLP, Statutory Auditors, contains unmodified opinion.

3. The meeting of Board of Directors held today commenced at 7.45 pm IST and concluded at 11.00 pm IST

The aforesaid information is also available on the website of the company at www.dynamatics.com

We kindly request you to take this letter along with the enclosures on record.

Thank you. Yours faithfully, for DYNAMATIC TECHNOLOGIES LIMITED

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Shivaram V Head - Legal, Compliance & Company Secretary

Enclosure: as above

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Proprietary Information of Dynamatic Technologies Limited
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Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru – 560 001 Karnataka, India

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

INDEPENDENT AUDITOR’S REPORT ON AUDIT OF ANNUAL CONSOLIDATED FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF DYNAMATIC TECHNOLOGIES LIMITED

Opinion and Conclusion

We have (a) audited the Consolidated Financial Results for the year ended March 31, 2022 and (b) reviewed the Consolidated Financial Results for the quarter ended March 31, 2022 (refer ‘Other Matters’ section below), which were subject to limited review by us, both included in the accompanying “Statement of Consolidated Financial Results for the Quarter and Year Ended March 31, 2022”, (the “Statement”) of DYNAMATIC TECHNOLOGIES LIMITED (“the Parent”) and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”).

(a) Opinion on Annual Consolidated Financial Results

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the audit reports of the other auditors on separate financial statements of subsidiaries referred to in Other Matters section below, the Consolidated Financial Results for the year ended March 31, 2022:

• (i) includes the results of the following entities:

• Dynamatic Technologies Limited, India

• JKM Global Pte Limited, Singapore

• Dynamatics Limited, UK

• Yew Tree Investment Limited, UK

• Dynamatics US LLC, USA

• JKM Erla Automotive Limited, India

• JKM Automotive Limited, India

• JKM Erla Holdings Gmbh, Germany

• Eisenwerk Erla Gmbh, Germany

• JKM Ferrotech Limited, India

• JKM Research Farm Limited, India

• (ii) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

• (iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the consolidated net profit and consolidated total comprehensive income and other financial information of the Group for the year ended March 31, 2022.

(b) Conclusion on Unaudited Consolidated Financial Results for the quarter ended March 31, 2022

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With respect to the Consolidated Financial Results for the quarter ended March 31, 2022, based on our review conducted and procedures performed as stated in paragraph (b) of Auditor’s Responsibilities section below and based on the consideration of the audit reports of the other auditors referred to in Other Matters section below, nothing has come to our attention that causes us to believe that the Consolidated Financial Results for the quarter ended March 31, 2022, prepared in accordance with the recognition and measurement principles laid down in the

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Indian Accounting Standards 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.

Basis for Opinion on the Audited Consolidated Financial Results for the year ended March 31, 2022

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under Section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those Standards are further described in paragraph (a) of Auditor’s Responsibilities section below. We are independent of the Group, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“the ICAI”) together with the ethical requirements that are relevant to our audit of the Consolidated Financial Results for the year ended March 31, 2022 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred to in Other Matters section below, is sufficient and appropriate to provide a basis for our audit opinion.

Management’s Responsibilities for the Statement

This Statement, which includes the Consolidated Financial Results is the responsibility of the Parent’s Board of Directors and has been approved by them for the issuance. The Consolidated Financial Results for the year ended March 31, 2022, has been compiled from the related audited consolidated financial statements. This responsibility includes the preparation and presentation of the Consolidated Financial Results for the quarter and year ended March 31, 2022 that give a true and fair view of the consolidated net profit and consolidated other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards, prescribed under Section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations.

The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of this Consolidated Financial Results by the Directors of the Parent, as aforesaid.

In preparing the Consolidated Financial Results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the respective entities to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate their respective entities or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

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Auditor’s Responsibilities

(a) Audit of the Consolidated Financial Results for the year ended March 31, 2022

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Results for the year ended March 31, 2022 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Consolidated Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Annual Consolidated Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.

• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.

• Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Consolidated Financial Results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Annual Consolidated Financial Results, including the disclosures, and whether the Annual Consolidated Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

• Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.

• Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Information of the entities within the Group to express an opinion on the Annual Consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Annual Consolidated Financial Results of which we are the independent auditors. For the other entities included in the Annual Consolidated Financial Results, which have been audited by the other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

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Materiality is the magnitude of misstatements in the Annual Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Consolidated Financial Results.

We communicate with those charged with governance of the Parent and such other entities included in the Consolidated Financial Results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Consolidated Financial Results for the quarter ended March 31, 2022

We conducted our review of the Consolidated Financial Results for the quarter ended March 31, 2022 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 ICAI. A review of interim financial information consists of making inquiries, primarily of the Company’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 SAs specified under section 143(10) of the Act 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.

The Statement includes the results of the entities as listed under paragraph (a)(i) of Opinion and Conclusion section above.

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.

Other Matters

• The Statement includes the results for the Quarter ended March 31, 2022 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report is not modified in respect of this matter.

• We did not audit the financial information of seven subsidiaries included in the consolidated financial results, whose financial information reflect total assets of Rs. 78,360 lakhs as at March 31, 2022 and total revenues of Rs. 17,970 lakhs and Rs. 70,945 lakhs for the quarter and year ended March 31, 2022 respectively, total net profit after tax of Rs. 276 lakhs and total net loss after tax of Rs. 348 lakhs for the quarter and year ended March 31, 2022 respectively and total comprehensive income of Rs. 276 lakhs and total comprehensive loss of Rs. 348 lakhs for the quarter and year ended March 31, 2022 respectively and net cash outflows of Rs. 2,616 lakhs for the year ended March 31, 2022, as considered in the Statement. These financial information have been audited, by other auditors whose reports have been furnished to us by the Management and our opinion and 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 under Auditor’s Responsibilities section above.

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Our report on the Statement is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.

1. The consolidated financial results includes the unaudited financial information of one subsidiary, whose financial information reflect total assets of Rs. 5,564 lakhs as at March 31, 2022 and total revenues of Rs. 1 lakhs and Rs. 153 lakhs for the quarter and year ended March 31, 2022 respectively, total net loss after tax of Rs. 12 lakhs and total net profit after tax of Rs. 57 lakhs for the quarter and year ended March 31, 2022 respectively and total comprehensive loss of Rs. 12 lakhs and total comprehensive income of Rs. 57 lakhs for the quarter and year ended March 31, 2022 respectively and net cash outflows of Rs. 29 lakhs for the year ended March 31, 2022, as considered in the Statement. These financial information are unaudited and have been furnished to us by the Management and our opinion and 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 such unaudited financial information. In our opinion and according to the information and explanations given to us by the Board of Directors, these financial information are not material to the Group.

Our report on the Statement is not modified in respect of the above matter with respect to our reliance on the financial information certified by the Board of the Directors.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm’s Registration No. 117366W/W-100018)

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Sathya P. Koushik

Partner (Membership No.206920) UDIN: 22206920AJOXLC7536

Swindon, May 25, 2022

DYNAMATIC TECHNOLOGIES LIMITED

CIN: L72200KA1973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOL!S, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 562110, INDIA Statement of Consolidated Financial results for the quarter and year ended 31 March 2022

						(IN// in /akhs, except as otherwise stated)	(IN// in /akhs, except as otherwise stated)	(IN// in /akhs, except as otherwise stated)
					Correponding 3
SI. No.	Particulars	3 months ended 31 March 2022 (Unaudited) (Refr Note 9)	Preceding 3 months ended 31 December 2021 (Unaudited)		months ended in previous period 31 March 2021 (Unaudited)	Year to date figures fr the current yer ended 31 March 2022 (Audited)		Previous year ended 31 M11rd1 2021 (Audited)
					(Refer Note 9)
	Continuing operations
l	Income
	a) Revenue fom operations	32,091	30,770		35,333	1,25,337		1,11,820
	b) Other income	496		34	250	822		607
	Total income (a+b)	32,587	30,804		35,583	1,26,159		1,12,427
2	Expenses
	a) Cost of materials and components consumed	15,818	14,552		18,057	61,491		54,157
	b) Change in inventory of finished goods and work-in-progress	(931)		696	109	13		854
	c) Employee benefts expense	6,689	6,492		6,058	25,604		22,147
	d) Finance costs	1,691	1,324		1,663	5,901		6,999
	e) Depreciation and amortisation expense	1,952	1,967		2,231	7,682		7,754
	t) Other expenses	5,692	4,730		6,179	21,306		19,761
	Total expenses (a+b+c+d+e+f)	30,9ll	29,761		34,297	1,21,997		1,11,672
3	Profit from continuing operations before tax (l- 2)	1,676	1	043	l 286	4 162		755
4	Tax expense/ (credit)
	a) Current tax	305		278	585	1,201		693
	b) Deferred tax	(131)		(37)	286	(245)		(136)
	Total tax expense (a+b)	174		241	871	956		557
5	Profit after tax from continuing operations (3•4)	1,502		802	415	3,206		198
	Discontinued operations (Refer Note 4)
6	Loss from discontinued operations	-		-	(1,191'	(1,659'		(2,385)
7	Loss after tax from discontinued operations	~~-~~		~~-~~	(1,191)	(1,659)		(2,385)
8	Profit/ (loss) for the period (5+7)	1,502		802	(776)	1,547		(2,187)
9	Other comprehensive income/(loss) (OCI)
	i) Items that will not be reclassifed subsequently to
	statement of profit and loss
	a) Remeasurement gain/(loss) on defined benefit plans	(200)		-	85	(231)		44
	b) Income tax relating to items that will not be reclassified to statement of profit and loss	50		-	(21)	58		(11)
	ii) Items that will be reclassified subsequently to Statement of profit
	and loss
	a) Foreign currency fuctuations under a cash fow hedge - gain/(loss)	(41)		45	12	(28)		151
	b) Exchange differences in translating financial statements of freign operations	(193)		(68)	(183)	(81)		1,873
	c) Income tax relating to items that will be reclassified to statement of profit and loss	-		-	35	-		-
IO	Other comprehensive income/ (loss) for the period, net of tax	(384)		(23)	(72)	(282)		2,057
JI	Total comprehensive income/ (loss) fr the period (8+ 10)	1,118		779	(848)	1,265		(130)
12	Paid-up equity share capital (fce value of INR I 0/- each)	634		634	634	634		634
13	Reserves (Other equity)	.		-	-	37,507		36,242
	Earnings per equity share	(not annualised)	(not annualised)		(not annualised)	(annualised)		(annualised)
	Earings per share (for continuing operations)
	Basic and diluted (]NR)	23.69	12.65		6.55	50.57		3.12
	Loss per equity share (for discontinued operations)
	Basic and diluted (INR)	-		-	(18.79)	(26.17)		(37.62)
	Earnings/ (loss) per equity share (for continuing and
	discontinued operations) Basic and diluted(lNR)	23.69	12.65		(12.24)	24.40	,,,	.. ,34.50)
	See accompanying notes to these fnancial results.						\,.uli/'t?|

DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KA1973PLC002308

JKM PLAZA, DYNA MA TIC AEROTROPOLJS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 5621 l 0, JNDIA

Statement of Consolidated Financial results for the quarter and year ended 31 March 2022

					(INRinlakhs exceptm	otherwise 1·/ated)
				Corresponding 3
		3 months ended	Preceding	months ended in	Year to date figures	Previous year
SI. No.	Particulars	31 March 2022	3 months ended	previous period	for the current year	ended
		(Unaudited)	31 December 2021	31 March 2021	ended 3 I March 2022	31 March 2021
		(Refer Note 9)	(Unaudited)	(Unaudited)	(Audited)	(Audited)
				(Refer Note 9)
I	Segment revenue
	a) Hydraulics	11,401	10,782	9,738	42,366	29,763
	b) Aerospace	9,937	9,561	10,874	36,014	37,395
	c) Metallurgy	10,530	10,222	14,713	46,501	44,187
	d) Others	223	205	8	456	475
	Revenue from operations (continuing operations)	32,091	30,770	35,333	l,25,337	1,11,820
	e) From discontinued operations - (Refr note 4)	"	.	3,529	2,011	9,235
	Total revenue from operations (continuing and discontinued	32,091	30,770	38,862	1,27,348	1,21,055
	operations)
2	Segment results [proft/ (loss) before finance costs, other income
	and tax from each segment)
	a) Hydraulics	1,965	1,545	1,122	6,057	1,855
	b) Aerospace	1,528	1,884	2,130	5,645	7,813
	c) Metallurgy	69	(315)	600	407	(20)
	d) Others	(96)	(246)	(678)	(997)	(1,125)
	e) Unallocated	(595)	(535)	(475)	(1,871)	(1,376)
	Total (continuing operations)	2,871	2,333	2,699	9,241	7,147
	f) From discontinued operations - (Refer note 4)	-	.	(1,191)	(1,659)	(2,385)
	Total (continuing and discontinued operations)	2,871	2,333	1,508	7,582	4,762
	Unallocable
	- Finance costs	(1,691)	(1,324)	(1,663)	(5,901)	(6,999)
	- Other income	496	34	250	822	607
	Profit/ (loss) before tax (continuing and discontinued operations)	1,676	1,043	95	2,503	(1,630)
3	Segment assets
	a) Hydraulics	36,344	33,740	30,089	36,344	30,089
	b) Aerospace	59,643	58,969	57,433	59,643	57,433
	c) Metallurgy	27,294	26,301	29,528	27,294	29,528
	d) Others	3,752	3,784	3,112	3,752	3,112
	e) Unallocated	6,059	5,813	8,679	6,059	8,679
	Segment assets related to continuing operations	1,33,092	1,28,607	1,28,841	1,33,092	1,28,841
	f Assets relating to discontinued operations held for sale	.	-	8,475	.	8,475
	(Refer Note 4)
	g) Other assets classified as held for sale (Refer Note 5)	5,562	5,562	5,562	5,562	5,562
	Total assets (continuing and discontinned operations)	1,38,654	1,34,169	1,42,878	1,38,654	1,42,878
4	Segment liabilities
	a) Hydraulics	19,698	18,159	15,375	19,698	15,375
	b) Aerospace	13,403	15,453	13,789	13,403	13,789
	c) Metallurgy	10,555	7,810	15,697	10,555	15,697
	d) Others	859	732	420	859	420
	e) Unallocated	55,998	54,995	60,567	55,998	60,567
	Segment liabilities related to continuing operations	1,00,513	97,149	l,05,848	1,00,513	1,05,848
	f) Liabilities directly associated with Assets classified as held for sale (Refr Note 4)	"	"	154	.	154
	Total liabilities (continuing and discontinued operations)	1,00,513	97,149	1,06,002	1,00,

DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KAI973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 562110, INDIA

Statement of Consolidated Financial results for the quarter and year ended 31 March 2022

Consolidated balance sheet as at 31 March 2022

Consolidated balance sheet as at 31 March 2022
	(INRi11lakhs, except as otherise stated)
Particulars	As at 31 March 2022 (Audited'	As at 31 March 2021 (Audited)
ASSETS Non-current assets a) Property plant and equipment b) Other Intangible assets c) Goodwill d) Capital work in progress e) Right-ot:use assets f Financial assets (i) Investments (ii) Other financial assets g) Income tax asset (net) h) Other non-current assets Total non - current assets Current assets a) Inventories b) Financial assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than cash and cash equivalents above (iv) Loans (v) Other fnancial assets c) Other current assets Total current assets Assets classified as held fr sale	44,399 2,488 10,099 1,454 11,535 33 1,109 730 907	44,534 2,322 10,259 325 13,702 33 931 1,571 175
	72,754 25,538 21,061 1,722 2,248 167 778 8 824	73,852 22,475 19,822 3,801 2,258 94 870 5 669
	60,338 5,562	54,989 14,037
Total Assets	1 38 654	1 42,878
EQUITY AND LIABILITIES Equity a) Equity share capital b) Other equity Total equity Liabilities Non-current liabilities a) Financial liabilities (i) Borrowings (ii) Lease Liabilities (iii) Other fnancial liabilities b) Provisions c) Defrred tax liabilities (net) d) Other non-current liabilities Total 11011-cnrrent liabilities Current liabilities a) 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 (iv) Lease liabilities b) Provisions c) Current tax liabilities (net) d) Other current liabilities Total current liabilities Liabilities diretly associated with assets classified as held fr sale Total liabilities Total equity and liabilities	634 37 507	634 36,242
	38,141 29,850 10,467 175 2,921 653 97	36,876 36,343 11,776 152 2,537 840 99
	44,163 24,497 1,082 20,787 4,584 3,856 1,104 79 361	51,747 21,398 482 19,978 4,636 4,869 1,019 1,105 614
	56,350 -	54,101 154
	**1,00 513 **	1 06,002
	1 38 654	1 42.178
	• •. ",,JI

See accompanying notes to these financial results.

DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KA1973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE- 562II0, INDIA

Statement of Consolidated Financial results for the quarter and year ended 31 March 2022

Consolidated Statement of cash flow for the year ended

Consolidated Statement of cash fow fr the year ended
		INR 111 lakhs
	Year ended			Year ended
Particulars	31 March 2022	31	March 2021
Cash fow from operating activities Proft/(loss) befre tax	<Audited'			(Audited'
Continuing operations	4,162			755
Discontinued operations	(1,659)			(2,385)
	2,503			(1,630)
Adjustments:
Interest income	(258)			(322)
Gain on sale of property, plant and equipment (net)	(20)			(3)
Depreciation and amortisation on Property, plant and equipment	3,546			4,768
Amortisation of Right to use Assets	4,136			4,016
Finance costs	4,852			6,224
Interest on Lease liabilities	901			998
Unwinding of discount on dismantling liability	68			58
Loss allowance on fnancial assets (net) Unrealised foreign exchange diferences Operating cash fow befre working capital changes	295 684 16,707			269 (1,808) 12,570
Changes in operating assets and liabilities
Changes in inventories	(1,525)			2,483
Changes in trade receivables	(1,399)			3,640
Changes in loans	(73)			(311)
Changes in other assets	(2,807)			(I, 151)
Changes in trade payables Changes in other fnancial liabilities	1,374 (218)			(7,027) 2,077
Changes in provisions	315			347
Changes in other current liabilities	(255)			(17)
Cash generated from operations Income taxes paid, net of refnd	12,119 (1,386)			12,611 (477)
Net cash generated from operating activities (A) Cash fows fom investing activities	10,733			12,134
Acquisition of property, plant and equipment and intangibles Proceeds fom sale of property, plant and equipment pertaining to discontinued operations	(5,805) 6,495			(1,972) -
Bank deposits (having original maturity of more than three months) (net)	10			441
Interest received from bank deposits	238			322
Net cash from/ (used in) investing activities (B) Cash fows fom financing activities	938			(1,209)
Proceed/(Repayment) of long term borrowings (net)	(5,207)			3,932
Proceeds/(Repayment) fom short term borrowings (net)	1,458			(6,964)
Payment in Lease liabilities	(5,161)			(3,756)
Interest paid	(4,791)			(6,419)
Dividend paid Net cash used in fnancing activities (C)	- (13,701)			(2) (13,209)
Net decrease in cash and cash equivalents (A + B + C)	(2,030)			(2,284)
Cash and cash equivalents at the beginning of the year	3,801			5,598
Efect of exchange rate changes on cash and cash equivalent	(49)			487
Cash and cash equivalents at the end of the year	1,722			**�:rul,;�01 **
		"	J	.:(Q'
See accompanying notes to these fnancial results. Cash fows from operating activities is arrived using indirect method. The above represents cash fows fom total operations.

DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KA1973PLC002308

JKM PLAZA, DYNAMA TIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 562110, INDIA

Statement of Consolidated Financial results for the quarter and year ended 31 March 2022

Notes:

• The above consolidated financial results of the Company as reviewed by the Audit Committee has been approved by the Board of Directors at its meeting held on 25 May 2022. The results for the year ended 31 March 2022 has been audited and the quarter ended 31 March 2022 has been reviewed by the Statutory auditors of the Company. The statutory auditors of the Company have expressed an unmodified opinion on the financial results for the year ended 31 March 2022 and have issued an unmodified conclusion in respect of the limited review for the quarter ended 31 March 2022.

• 2 Information on standalone financial results

			n a1s, ecept as (INR i l kl	n a1s, ecept as (INR i l kl	ot ,er se state l d)
Particulars	3 months ended 31 March 2022 (Unaudited) (Refer Note 9)	Preceding 3 months ended 31 December 2021 (Unaudited)	Corresponding 3 months ended in previous period 31 March 2021 (Unaudited) (Refer Note 9)	Year to date figure fr the current year ended 31 March 2022 (Audited)	Previous year ended 31 March 2021 (Audited)
a. Revenue b. Profit befre tax c. Proft afer tax	14,045 1,489 1,077	14,415 1,553 1,177	14,951 1,133 552	54,897 5,296 3,965	51,374 3,727 2,825

• 3 The global pandemic COVID-19, has impacted economies across the globe and the disruption has resulted in economic slowdown worldwide. The Group has evaluated impact of COVID 19 in assessing the recoverability of assets, more particularly carrying value of property, plant and equipment and investments. Such assessments consider internal and external information, including current indicators of future economic conditions. The Group continues to focus on maintaining liquidity and expects a gradual recovery of demand and supply in future months. The ultimate eventual impact of the pandemic on the results may differ from that estimated as at the date of the approval of these results. The Group will continue to closely monitor any material changes to future economic conditions and assess its impact on operations.

• 4 The Board of Directors of Dynamatic Manufacturing Limited (formerly known as JKM Ferrotech Limited) ('DML'), a wholly subsidiary of the Company, vide its meeting dated I February 2021 had approved the term sheet and plan for sale of its foundry business, situated at SIPCOT Industrial Complex, Gumidipoondi, Thiruvallur, Tamil Nadu to Danblock Brakes India Private Limited (DBIPL). Subsequently DML and DBIPL executed an Asset Purchase Agreement on 7 April 2021, which were subject to certain customary closing conditions. All closing conditions have been met and the Company has received a net consideration of INR 7,041 lakhs on 22 July 2021.

Pursuant to the consummation of the aforesaid transaction, the management has carried out a detailed review of the residual assets and liabilities of the discontinued business and has during the quarter ended 30 September 2021, accrued for certain provisions, transactional costs and exchange fluctuation losses on restatement of off-shore trade advance payable to one of the subsidiaries.

The results of the aforesaid discontinued operations ( of the foundry business of DML, which represents the Indian operations of the "Automotive and Metallurgy" segment) are as under:

			(NR in /akl,s, ecept as	(NR in /akl,s, ecept as	otherise stated)
Particular	3 months ended 31 March 2022 (Unaudited) (Refer Note 9)	Preceding 3 months ended 31 December 2021 (Unaudited)	Corresponding 3 months ended in previous period 31 March 2021 (Unaudited) (Refer Note 9)	Year to date fgures fr the current year ended 31 March 2022 (Audited)	Previous year ended 31 March 2021 (Audited)
Revenue	-	-	3,529	2,011	9,235
Expenses Loss befre tax	- -	- -	4,720 (1,191)	3,670 (,659)	11,620 (2,385)

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DYNAMATIC TECHNOLOGIES LIMITED CIN: L 72200KA1973PLC002308

JKM PLAZA, DYNAMA TIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 562110, INDIA

Statement of Consolidated Financial results for the quarter and year ended 31 March 2022

Notes:

• 5 During the year ended 31 March 2018, the Board of Directors of the Company had approved the divestment of 'Automotive and Aluminium Castings' ('discontinued business'). Subsequently, the Company had obtained the Shareholders' approval (a substantive approval) vide postal ballot dated 15 May 2018. The discontinued businesses included the Aluminium business and the Windfarm business. In January 2019, the Company had disposed off the Aluminium business. The management is actively pursuing its plan for disposal of the Windfarm land and is in advanced stage of discussions with the Government as a part of proposed Southern Defence Industrial Corridor. The same has been presented as "Assets classified as held for sale" in these results.

• 6 On 11 February 2020, the Board of Directors Dynamatic Manufacturing Limited (formerly known as JKM Ferrotech Limited), a subsidiary of the Company, had approved a scheme of capital reduction, subject to regulatory approvals. The said scheme has been approved by the NCL T in April 2021.

• 7 The Code on Wages, 2019 and Code on Social Security, 2020 ("the Codes") relating to employee compensation and post­ employment benefits that received Presidential assent have not been notified. Further, the related rules for quantifying the financial impact have not been notified. The Group will assess the impact of the Codes when the rules are notified and will record any related impact in the period the Codes become effective.

• 8 On 25 May 2022, the Company's board of directors have approved internal reorganisation under which the parent entity Dynamatic Technologies Limited ('DTL') will acquire 42.35% and 24.62% equity shares of Dynamatic Manufacturing Limited (formerly known as JKM Ferrotech Limited) from JKM Erla Automotive Limited and Eisenwerk Erla GmbH respectively. On completion of the aforesaid transaction, Dynamatic Manufacturing Limited will be a wholly owned subsidiary of DTL.

• 9 The figures for the quarter ended 31 March 2022 and 31 March 2021 are the balancing figures between the audited figures in respect of the full financial year ended 31 March 2022 and 31 March 2021 and published year to date figures up to third quarter ended 31 December 2021 and 31 December 2020 respectively.

• 10 Previous periods figures have been regrouped/ reclassified wherever necessary, to conform to current period's classification in order to comply with the requirements of the amended Schedule III to the Companies Act, 2013 effective l April 2021.

for and on behalf of Board of Directors of Dynamatic Technologies Limited ✓ � ,. ,.,J)v' 1[-][. ] -,- o I 1 Udayant Malhoutra k CEO and Managing Direc �� \, z�( -)

Date: 25 May 2022 Place: Swindon, United Kingdom

Chartered Accountants Prestige Trade Tower, Level 19 46, Palace Road, High Grounds Bengaluru – 560 001 Karnataka, India

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

INDEPENDENT AUDITOR’S REPORT ON AUDIT OF ANNUAL STANDALONE FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF DYNAMATIC TECHNOLOGIES LIMITED

Opinion and Conclusion

We have (a) audited the Standalone Financial Results for the year ended March 31, 2022 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2022 (refer ‘Other Matters’ section below), which were subject to limited review by us, both included in the accompanying “Statement of Standalone Financial Results for the Quarter and Year Ended March 31, 2022” (“the Statement”) of DYNAMATIC TECHNOLOGIES LIMITED (“the Company”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“the Listing Regulations”).

(a) Opinion on Annual Standalone Financial Results

In our opinion and to the best of our information and according to the explanations given to us, the Standalone Financial Results for the year ended March 31, 2022:

• i. is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

• ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and total comprehensive income and other financial information of the Company for the year then ended.

(b) Conclusion on Unaudited Standalone Financial Results for the quarter ended March 31, 2022

With respect to the Standalone Financial Results for the quarter ended March 31, 2022, based on our review conducted as stated in paragraph (b) of Auditor’s Responsibilities section below, nothing has come to our attention that causes us to believe that the Standalone Financial Results for the quarter ended March 31, 2022, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 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.

Basis for Opinion on the Audited Standalone Financial Results for the year ended March 31, 2022

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We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under Section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those Standards are further described in paragraph (a) of Auditor’s Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“the ICAI”) together with the ethical requirements that are relevant to our audit of the Standalone Financial Results for the year ended March 31, 2022 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

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Management’s Responsibilities for the Statement

This Statement which includes the Standalone Financial Results is the responsibility of the Company’s Board of Directors and has been approved by them for the issuance. The Standalone Financial Results for the year ended March 31, 2022 has been compiled from the related audited standalone financial statements. This responsibility includes the preparation and presentation of the Standalone Financial Results for the quarter and year ended March 31, 2022 that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the Company’s ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Auditor’s Responsibilities

(a) Audit of the Standalone Financial Results for the year ended March 31, 2022

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results for the year ended March 31, 2022 as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Standalone Financial Results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Annual Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.

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• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.

• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the Listing Regulations.

• Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the Annual Standalone Financial Results, including the disclosures, and whether the Annual Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the Annual Standalone Financial Results of the Company to express an opinion on the Annual Standalone Financial Results.

Materiality is the magnitude of misstatements in the Annual Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Standalone Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

(b) Review of the Standalone Financial Results for the quarter ended March 31, 2022

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We conducted our review of the Standalone Financial Results for the quarter ended March 31, 2022 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 ICAI. A review of interim financial information consists of making inquiries, primarily of the Company’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 SAs specified under section 143(10) of the Act 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.

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Other Matters

• The Statement includes the results for the Quarter ended March 31, 2022 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us. Our report on the Statement is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm’s Registration No. 117366W/W-100018)

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Sathya P. Koushik Partner (Membership No.206920) UDIN: 22206920AJOXEZ4886

Swindon, May 25, 2022

DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KA1973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE- 562110, INDIA Statement of Standalone Financial Results for the quarter and year ended 31 March 2022

				f/NR /1 lakhs, exceol as otherwise state<)	f/NR /1 lakhs, exceol as otherwise state<)	f/NR /1 lakhs, exceol as otherwise state<)	f/NR /1 lakhs, exceol as otherwise state<)
SI, No.	Particulars	Jmonthsended JI March 2022 (Unaudited) (Refer Note 7)	Preceding J month,ended JI Decem her 2021 (Unaudited)	Correpondlng J months endedIn previous period JI March 2021 (Unaudited) (Refer Note 7)	Year to datefgure, fr the current yer ended JI March 2022 (Audited)		Previous year ended JI March 2021 (Audited)
1	Income
	a) Revenue from operations	14,045	14,415	14,951	54,897		51,374
	b) Other income Total Income (a+b)	384 14,429	/7 14,408	149 15,10	1,124 56,021		440 51,814
2	Expenses
	a) Cost of raw materials and components consumed b) Changes in inventories offnished goods and work-in-prob,ress	6,113 (225)	6,552 (70)	6,489 1,002	23,625 1,417		22,551 299
	c) Employee benefits expense	2,463	2,522	2,034		9,130	8,008
	d) Finance costs	1,453	974	1,210		4,734	5,776
	e) Depreciation and an1ortisation expense	749	738	886		3,032	3,191
	t) Other expenses	2,387	2,139	2,346		8,787	8,262
	Total expenses (a+b+c+d+e+f	12,940	12,855	13,967	50,725		48,087
3	Proft before tax (1 - 2)	1,489	1,553	1,133		5,296	3,727
4	Tax expense
	a) Current tax	384	390	361		1,342	1,014
	b) Defrred tax	28	(141	220		(11	(112
	Total tax expense (a+b)	412	376	581		1,331	902
5	Proft fr the period (3 - 4)	1,077	1,177	552		3,965	2,825
6	Other com1irehensive income/(loss) (OCI)
	i) Items that will not to be reclassified subsequently to statement ol
	profit and loss
	a) Remeasurement gain/(loss) on defined benefit plans	(200)	-	85		(231)	44
	b) Income tax relating to items that will not bereclassified to	50	-	(21)		58	(11)
	statement of profit and loss
	ii) Items that will be reclassified subsequently to Statement of proft
	and loss
	a) Foreign currency fluctuations under a cash flow hedge - gain b) Income tax relating to items that will be recla ified to statement ot proft and loss Other comprehensive Income/ (loss) fr the period, net of tax	(41) - *1191*	45 - 45	12 35 111		(28) - '201	151 - 184
7	Total comprehensive income for the period (5+6)	886	1,222	663		3,764	3,009
8	Paid-up equity share capital (face value oflNR 10/- each)	634	634	634		634	634
9	Reseres (Other equity)	-	-	-	36,651		32,904
	Earnings per equity share	(not annualised)	(not annualised)	/not annualised)	/annualised)		<annualised)
	Basic and Diluted (INR)	16.99	18.56	8.71		62.54	44.56
	See accompanying notes to these financial results.					·' sCHN0< ·.'v, 00 " ,

DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KA1973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE -562110, INDIA

Statement of Standalone Financial Results for the quarter and year ended 31 March 2022

SI. No. I 2 3 4 Particulars Segment revenue a) Hydraulics b) Aerospace c) Others Revenue from O]lerations Segment results (profit/ (loss) before finance costs, other income and tax from each segment] a) Hydraulics b) Aerospace c) Others d) Unallocated Total Unallocable - Finance Cost - Other income Profit befre tax Segment Assets a) Hydraulics b) Aerospace c) Others d) Unallocated Segment assets e) Assets classifed as held for sale (Refer Note 4) Total assets Segment Liabilities a) Hydraulics b) Aerospace c) Others d) Unallocated Total Selment Liabilities	(INR /11 fakis, except as otherise stated) Correponding 3 Year to date figure 3 mouths ended Preceding months ended in Previous year 31 March 2022 3 mouths ended previous period fr the current year ended ended 31 March (Unaudited) 31 December 2021 31 March 2021 2022 31 March 2021 (Refer Note 7) (Unaudited) (Unaudited) (Audited) (Audited) (Refer Note 7) 8,059 8,035 6,998 30,621 20,884 5,974 6,380 7,934 24,235 30,004 12 - 19 41 486
	14,045 14,415 14,951 54,897 51,374 1,678 1,547 852 5,634 1,773 1,616 1,791 2,005 6,002 9,321 (141) (270) (149) (859) (614) (595) (534) (51 (I 871 /I 417 2,558 2,534 2,194 8,906 9,063 (1,453) (974) (l,2IO) (4,734) (5,776) 384 (7~~)~~ 149 I 124 440
	1,489 1,553 1,133 5,296 3,727 16,586 15,215 12,554 16,586 12,554 38,294 37,990 40,241 38,294 40,241 546 559 514 546 514 39,686 39,818 42,032 39,686 42,032 95,112 93,582 95,341 95,112 95,341 5,562 5,562 5,562 5,562 5,562 1,0,674 99,144 1,0,903 1,0,674 1,00,903 10,094 9,169 7,249 I0,094 7,249 5,157 5,777 6,385 5,157 6,385 630 650 548 630 548 47,508 47,133 53,183 47,508 53,183 63 389 62 729 67 365 63 389 67 365

See accompanying notes to the financial results.

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DYNAMA TIC TECHNOLOGIES LIMITED CIN: L72200KAl973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 562110, INDIA

Statement of Standalone Financial Results for the quarter and year ended 31 March 2022 Standalone balance sheet as at 31 March 2022

Standalone balance sheet as at 31 March 2022
Particulars	(INR i11 lak/1s, As at 31 March 2022 (Audited'	except as otherise stated) As at 31 March 2021 (Audited)
ASSETS Non-current assets a) Property, plat and equipment b) Intagible a ets c) Capital work in progess d) Right-of-use assets e) Financial assets (i) Investments ( ii) Other fnancial assets fIncome tax assets (net) g) Other non-current assets Total non-current assets Current assets a) Inventories b) Financial assets (i)Trade receivables (ii) Cash and cah equivalents (iii) Bank balances other tha cash and cash equivalents above (iv) Loans (v) Other financial a ets c) Other current assets Total current assets d) Assets classifed a held fr sale Total Assets EQUITY AND LIABILITIES Equity a) Equity share capital b) Other equity Total equity Liabilities Non-current liabilities a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Other fnancial liabilities b) Provisions c) Deferred tax liabilities (net) Total non-current liabilities Current liabilities a) 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) Lease liabilities (iv) Other fnancial liabilities b) Provisions c) Current income ta liabilities (net) d) Other current liabilities Total current liabilities Total Liabilities Total Equity and Liabilities	21,004 372 1,138 2,097 33,809 758 645 899	21,770 93 322 3,342 33,809 719 1,551 59
	60,722 10,160 14,222 667 2,248 90 1,538 5,465	61,665 10,388 13,105 347 2,204 1,067 1,991 4,574
	34,390 5,562	33,676 5,562
	1,00,674 634 36,651 37,285 24,546 1,171 175 2,921 3,897 32,710 17,719 1,082 7,849 1,451 1,344 381 639 214 30,679 63,389 1,00,674	1,00,903 634 32,904 33,538 30,927 1,989 156 2,537 3,966 39,575 16,585 28 6,266 1,993 1,286 351 1,131 150 27,790 67,365 1,00,903

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See accompanying notes to these financial results.

DYNAMA TIC TECHNOLOGIES LIMITED CIN: L72200KA1973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 5621 IO, INDIA Statement of Standalone Financial Results for the quarter and year ended 31 March 2022

Standalone statement of cash flow

Standalone statement of cash fow
		INR i1 lakhs
	Year ended	Year ended
Particulars	31 March 2022	31 March 2021
	<Audited)	(Audited)
Profit before tax	5,296	3,727
Adjustments:
Depreciation and aortisation on Property, plant & equipment	1,450	1,542
Amortisation of Right-of-use assets	1,582	1,649
Finance costs	3,907	5,196
Interest on lease liabilities	417	522
Loss on sale oflnvestment	5,593	-
Impairment provision reversal	(5,593)	-
Gain on sale of property, plat and equipment, net	(576)	(3)
Interest income	(227)	(233)
Interest on loans/advance given to related parties	(62)	(45)
Financial guaantee obligation income	(4)	(6)
Unwinding of discount on dismantling liability	68	58
Loss allowace on finacial assets, net	288	267
Unrealised foreig exchange differences Operating cash fow before working capital changes	264 12,403	(213) 12,461
Changes in operating assets and liabilities
Changes in inventories	228	1,058
Changes in trade receivables	(1,278)	3,016
Changes in loans	977	(989)
Changes in other financial assets	434	( 11)
Changes in other assets	(889)	(1,116)
Changes in trade payables	2,637	(6,383)
Changes in other financial liabilities	(12)	318
Changes in provisions.	183	193
Changes in other current liabilities	64	(61'
Cash generated from operations	14,747	8,486
Income taxes paid, net of refnd Net cash eenerated from operatine activities (A)	(928� 13,819	(453' 8 033
Cash fows from investing activities
Expenditure on property, plant and equipment and intangibles	(2,769)	(780)
Proceeds from sale of property, plat ad equipment	668	-
Proceeds fom sale of subsidiaies investment	I	(440)
Bank deposits (having original maturity of more than three months), net	(44)	444
Interest received from bank deposits	207	233
Net cash used in investinl activities (B)	(1,937)	(543)
Cash fows from financing activities
Proceed/(Repayment) oflong term borrowings, net	(5,600)	3,091
Repayment of short tem1 borrowings, net	(2)	(4,577)
Payment of Lease liabilities	(2,114)	(1,573)
Interest paid	(3,846)	(5,329)
Dividendpaid Net cash used in fnancinl activities (C)	- (11 562)	(2 _(8_3901
Net increae/(decrease) in cash and cash equivalents (A+ B +C)	320	(900)
Cash and cash equivalents at the beginning of the year	347	1,247
Cash and cash equivalents at the end of the vear	667	347
See accompanying notes to these fnancial results.		·- ._
Cash fows from operating activities is arrived using indirect method.
The above represents cash fows from total operations.

DYNAMATIC TECHNOLOGIES LIMITED CIN: L 72200KA 1973PLC002308

JKM PLAZA, DYNAMATIC AEROTROPOLIS, 55, KIADB AEROSPACE PARK, DEVANAHALLI, BANGALORE - 562110, INDIA Statement of Standalone Financial Results for the quarter and year ended 31 March 2022

Notes:

• The above standalone financial results of the Company as reviewed by the Audit Committee has been approved by the Board of Directors at its meeting held on 25 May 2022. The results for the year ended 31 March 2022 has been audited and the quarter ended 31 March 2022 has been reviewed by the Statutory auditors of the Company. The statutory auditors of the Company have expressed an unmodified opinion on the financial results for the year ended 31 March 2022 and have issued an unmodified conclusion in respect of the limited review for the quarter ended 31 March 2022.

• 2 The global pandemic COVID-19, has impacted economies across the globe and the disruption has resulted in economic slowdown worldwide. The Company has evaluated impact of COVID 19 in assessing the recoverability of assets, more particularly ca ying value of property, plant and equipment and investments. Such assessments consider internal and external information, including current indicators of future economic conditions. The Company continues to focus on maintaining liquidity and expects a gradual recovery of demand and supply in future months. The ultimate eventual impact of the pandemic on the results may differ from that estimated as at the date of the approval of these results. The Company will continue to closely monitor any material changes to future economic conditions and assess its impact on operations.

• 3 The Code on Wages, 2019 and Code on Social Security, 2020 ("the Codes") relating to employee compensation and post-employment benefits that received Presidential assent have not been notified. Further, the related rules for quantifying the financial impact have not been notified. The Company will assess the impact of the Codes when the rules are notified and will record any related impact in the period the Codes become effective.

• 4 During the year ended 31 March 2018, the Board of Directors of the Company had approved the divestment of 'Automotive and Aluminium Castings' ('discontinued business'). Subsequently, the Company had obtained the Shareholders' approval (a substantive approval) vide postal ballot dated 15 May 2018. The discontinued businesses included the Aluminium business and the Windfarm business. In January 2019, the Company had disposed off the Aluminium business. The management is actively pursuing its plan for disposal of the Windfarm land and is in advanced stage of discussions with the Government as a part of proposed Southern Defence Industrial Corridor. The same has been presented as "Assets classified as held for sale" in these results.

• 5 On 11 February 2020, the Board of Directors Dynamatic Manufacturing Limited (forn1erly known as JKM Ferrotech Limited), a subsidiary of the Company, had approved a scheme of capital reduction, subject to regulatory approvals. The said scheme has been approved by the NCL T in April 2021.

• 6 On 25 May 2022, the Company's board of directors have approved internal reorganisation under which the parent entity Dynamatic Technologies Limited ('DTL') will acquire 42.35% and 24.62% equity shares ofDynamatic Manufacturing Limited (formerly known as JKM Ferrotech Limited) from JKM Erla Automotive Limited and Eisenwerk Erla GmbH respectively. On completion of the aforesaid transaction, Dynamatic Manufacturing Limited will be a wholly owned subsidiary of DTL.

• 7 The figures for the quarter ended 31 March 2022 and 31 March 2021 are the balancing figures between the audited figures in respect of the full financial year ended 31 March 2022 and 31 March 2021 and published year to date figures up to third quarter ended 31 December 2021 and 31 December 2020 respectively.

• 8 Previous periods figures have been regrouped/ reclassified wherever necessary, to conform to current period's classification in order to comply with the requirements of the amended Schedule III to the Companies Act, 2013 effective 1 April 2021.

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Date: 25 May 2022 Place: Swindon, United Kingdom