Dynamatic Technologies Ltd. — Interim / Quarterly Report 2022

Jul 23, 2021

DYNAMATIC TECHNOLOGIES LIMITED

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23[rd ] July 2021

1. The Secretary Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001. Fax No. 022 - 2272 3121 / 3719 / 2037 I 2039 / 2041 / 2061

1. The Secretary National Stock Exchange of India Limited "Exchange Plaza" Bandra-Kurla Complex Bandra East Mumbai - 400 051 Fax No.022 - 26598237 / 38 / 2659834,6

Dear Sir / Madam,

Sub: Board Meeting outcome.

Ref: Scrip Code: 505242 / DYNAMATECH

Further to our letter dated 17[th ] July 2021, we write to inform you that the Board considered and approved the Un-Audited Standalone and Consolidated Financial Results for the quarter ended 30[t][h ] June 2021, along with the limited review report by Statutory Auditors of the Company. Copy of the Un-Audited Financial Results have been enclosed incompliance with the provisions of Regulation 30 of SEBI (LODR) Regulations, 2015.

The meeting of Board of Directors held today commenced at 1 :45 pm and concluded at 6.00 pm

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

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

Thank you.

Yours Sincerely, , _1 for DYNAMATIC TECHNOLW'GIES LIMITED _d'[r-l'l ][ut][r-'] Shivaram� Head Legal, Compliance and Company Secretary

D[y] namatic Park Peenya Bangalore 560 058 India Tel +91 80 2839 4933 / 34 / 35 Fax +91 80 2839 5823 www.dynamatics.com ,...., ____ . ,.., __ ..:...,.. . .. L .-L _ I -,-'"'" ," ._. . . - -----

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

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

Deloitte Haskins & Sells LLP

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

TO THE BOARD OF DIRECTORS OF DYNAMATIC TECHNOLOGIES LIMITED

1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of DYNAMATIC TECHNOLOGIES LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), for the quarter ended June 30, 2021 ("the Statement"), being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim 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.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143( 10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

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

2. JKM Research Farm Limited, India

3. II. JKM Global Pte Limited, Singapore

4. Dynamatic Limited, UK

5. 1v. Yew Tree Investment Limited, UK

6. v. Dynamatic US LLC, USA

7. vi. JKM Erla Automotive Limited, India

8. vii. JKM Automotive Limited, India

9. viii. JKM Erla Holdings GmbH, Germany

10. 1x. Eisenwerk Erla GmbH, Germany x. JKM Ferrotech Limited, India

11. 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 Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

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I 1

Deloitte Haskins & Sells LLP

1. We did not review the financial results of five subsidiaries included in the consolidated unaudited financial results, whose financial results reflect total revenues of Rs.19,057 lakhs for the quarter ended June 30, 2021, total net loss after tax of Rs. 282 lakhs for the quarter ended June 30, 2021 and total comprehensive loss of Rs 282 lakhs for the quarter ended June 30, 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 these matters.

1. The consolidated unaudited financial results includes the financial results of three subsidiaries which have not been reviewed by their auditors, whose financial results reflect total revenue of Rs. 52 lakhs for the quarter ended June 30, 2021, total profit after tax of Rs.15 lakhs for the quarter ended June 30, 2021 and total comprehensive income of Rs. 15 lakhs for the quarter ended June 30, 2021, as considered in the Statement. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial resu Its certified by the Management.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration j 117366W/W-100018'.

Sathya P. Koushik Partner Membership No. 206920 (UDIN: 21206920AAAAGZ6991)

Bengaluru, July 23, 2021

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DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KAl973PLC002308 DYNAMATIC PARK, PEENYA, BENGALURU-560 058, INDIA Statement of Unaudited Consolidated Financial results for the quarter ended 30 June 2021

				(/NII in lakhs, except	as otherise staled
SI. No.	Particulars	3 months ended JO June 2021 **(Unaudited)1 **	Preceding 3 months ended 31 March 2021 (Refer Nole 8)	Corres1>011ding 3 months ended in previous period 30 June 2020 (Unaudited)	Previous yenr ended 31 March 2021 (Audited)
	Continuing 011erations
I	Income
	a) Revenue from operations	32,041	35,333	18,540	1,11,820
	b) Other income	137	250	144	607
	Total income (a+b)	32,178	35,583	18,684	1,12,427
2	Expenses
	a) Cost of materials and components consumed	16,110	18,057	6,535	54,157
	b) Change in inventory of finished goods and work-in-progress	168	109	1,345	854
	c) Employee benefits expense	6,207	6,058	4,947	22,147
	d) Finance costs	1,494	1,663	1,895	6,999
	e) Depreciation and amortisation expense	1,808	2,231	1,866	7,754
	I) Other expenses	5,559	6,179	3,616	19,761
	Total expenses (a+b+c+d+e+f)	31,346	34,297	20,204	1,11,672
3	Proft/ (loss) from continuing operations befre tax (1 - 2)	832	1,286	(1,520)	755
4	Tax expense/ (credit)
	a) Current tax	295	585	-	693
	b) Deferred tax	(44)	286	(352)	( 136)
	Total tax expense/ (credit) (a+b)	251	871	(352)	557
5	Proft/ (loss) after tax from continuing operations (3 - 4)	581	415	(1,168)	198
	Discontinued 01Jerations (Refer Note 4)
6	Loss from discontinued operations	(329)	(I, 191)	(526)	(2,385)
7	Tax expense/(credit) of discontinued operations	-	-	-	-
8	Loss after tnx fom discontinued operations (6-7)	(329)	(1,191)	(526)	(2,385)
9	Proft/ (loss) fr the 11eriod (5+8)	252	(776)	(1,694)	(2,187)
10	Other com1Jrehensive income/(loss) (OCI)
	i) Items that will not be reclassified subsequently to statement of profit and
	loss
	a) Remeasurement gain/(loss) on defined beneft plans	4	85	(20)	44
	b) Income tax relating to items that will not be reclassifed to statement of profit and loss	(I)	(21)	5	(11)
	ii) Items that will be reclassified subsequently to Statement of profit and loss
	.,
	a) Foreign currency fluctuations under a cash flow hedge - gain/(loss)	(89)	12	-	151
	b) Exchange diferences in translating financial statements of foreign operations	548	(183)	374	1,873
	c) Income tax relating to items that will be reclassified to statement of proft and loss		35	-	-
II	Other com11rehcnsive income/ (loss) for the period, net of tax	462	(72)	359	2,057
12	Total comprehensive income/ (loss) for the J>eriod (9+11)	714	(848)	(1,335)	(130)
13	Paid-up equity share capital (face value of INR I 0/- each)	634	634	634	634
14	Reserves (Other equity)	-	-	-	36,242
	Earings J>Cr equity share Earnings/ (loss) pr share (for continuing operations)	(not annualised)	(not annualised)	(not annualised)	(annualised)
	Basic and diluted (IN R)	9.16	6.55	( 18.42)	3.12
	Loss per equity share (for discontinued operations)
	Basic and diluted (INR)	(5.19)	( 18.79)	(8.30)	(37.62)
	Earnings/ (loss) per equity share (for continuing and discontinued
	operations)
	Basic and diluted (INR) See accompanymg notes to these fnancial results.	3.97	(12.24)	(26.72)	(34.50)

DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KAI973PLC002308

DYNAMATIC PARK, PEENYA, BENGALURU-560 058, INDIA

Statement of Unaudited Consolidated Financial results for the quarter ended 30 June 2021

Annexure I: Statement of consolidated segment wise revenue, results, assets and,liabilities for the quarter ended 30 June 2021

				(!NII in lakhs, except	as 01hemise slated)
SI, No,	Particulars	3 months ended JO June 2021 (Unaudited)	Preceding 3 months ended 31 March 2021 (Refer Note 8)	Corresponding 3 months ended in previous period JO June 2020 (Unaudited)	Previous yenr ended JI March 2021 (Audited)
1	Segment revenue
	a) Hydraulics	9,314	9,738	4,062	29,763
	b) Aerospace	8,727	10,874	8,130	37,395
	c) Automotive and Metallurgy	13,983	14,713	6,348	44,187
	d) Others	17	8	"	475
	Revenue from o(lerations (continuing O1,erations)	32,041	35,333	18,540	1,11,820
	e) From discontinued operations - (Refer note 4)	1,843	3,529	564	9,235
	Total revenue from 011erations (continuing and discontinued 011erations)	33,884	38,862	19,104	1,21,055
2	Segment results ((lrofit/ (loss) before finance costs, other income and tax
	from each segment)
	a) Hydraulics	1,014	1,122	(461)	1,855
	b) Aerospace	1,209	2,130	1,784	7,813
	c) Automotive and Metallurgy	491	600	(765)	(20)
	d) Others	(197)	(678)	(87)	{I, 125)
	e) Unallocated	(328)	(475)	(240)	{1,376)
	Total (continuing operations)	2,189	2,699	231	7,147
	f) From discontinued operations - (Refer note 4)	(329)	(1. 191)	(526)	{2,385)
	Total (continuing and discontinued O(lerations)	1,860	1,508	(295)	4,762
	Unallocable
	- Finance costs	(1,494)	(1,663)	(1,895)	(6,999)
	- Other income	137	250	144	607
	Profit/ (loss) before tax (continuing and discontinued O(lerations)	503	95	(2,046)	(1,630)
3	Segment assets
	a) Hydraulics	30,404	30,089	25,938	30,089
	b) Aerospace	57,019	57,433	58,122	57,433
	c) Automotive and Metallurgy	30,785	29,528	38,797	29,528
	d) Others	3,371	3,112	7,275	3,112
	e) Unallocated	7,419	8,679	8,940	8,679
	Segment assets related'to continuing O11erations	1,28,998	1,28,841	1,39,072	1,28,841
	I) Assets relating to discontinued operations held for sale (Refer Note 4)	7,820	8,475		8,475
	g) Other assets classified as held for sale (Refer Note 5)	5,562	5,562	"	5,562
	Total assets (continuing and discontinued 011erations)	1,42,380	1,42,878	1,39,072	1,42,878
4	Segment liabilities
	a) Hydraulics	16,913	15,375	13,940	15,375
	b) Aerospace	13,717	13,789	14,764	13,789
	c) Automotive and Metallurgy	13,469	15,697	11,782	15,697
	d) Others	492	420	529	420
	e) Unallocated	60,088	60,567	62,070	60,567
	Segment liabilities related to continuing operations	1,04,679	1,05,848	1,03,085	1,05,848
	f) Liabilities directly associated with Assets classified as held for sale(Refer Note 4)	144	154	"	154
	Total liabilities (continuing and discontinued O11erations)	1,04,823	1,06,002	1,03,085	1,06,002

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DYNAMATIC TECHNOLOGIES LIMITED CIN: L 72200KA1973PLC002308 DYNAMA TIC PARK, PEENY A, BANGALORE-560 058, INDIA

Statement of Unaudited Consolidated Financial results for the quarter ended 30 June 2021

Notes:

The above consolidated financial results for the quarter ended 30 June 2021 were reviewed by the Audit Committee has been approved by the Board of Directors at its meeting held on 23 July 2021. The statutory auditors of the company have carried out the limited review of the unaudited consolidated financial results for the quarter ended 30 June 2021 and have issued an unmodified conclusion.

• 2 Information on standalone financial results

		(INR in lakhs, except as	(INR in lakhs, except as	otherwise stated)
Particulars	3 months ended 30 June 2021 (Unandited)	Preceding 3 months ended 31 March 2021 (Refer Note 8)	Corresponding 3 months ended in previous period 30 June 2020 (Unaudited)	Previous year ended 3 I March 2021 (Audited)
a. Revenue from operations	13,261	14,951	8,937	51,374
b. Profit/ (Loss) before tax	1, 1 11	l, 133	(6)	3,727
c. Profit/ (Loss) after tax	850	552	(16)	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 assessment consider internal and external information, including current indicators of future economic conditions. Th� 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 JKM Ferrotech Limited ('JFTL'), a wholly subsidiary of the Company, vide its meeting dated 1 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 JFTL and DBIPL have executed Assets 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.

As at 30 June 2021, the aforesaid assets and liabilities of JFTL business have been presented as "Assets classified as held for sale" and "Liabilities directly related to Assets classified as held for sale". The results of the foundry business of JFTL which represents the Indian operations of the "Automotive and Metallurgy" segment has been presented as discontinued operations.

The results of the aforesaid discontinued operations are as under:

		(INR	in lakhs, except as otherwise stated)	in lakhs, except as otherwise stated)
Particulars	3 months ended 30 June 2021 (Unaudited)	Preceding 3 months ended 31 March 2021 (Refer Note 8)	Corresponding 3 months ended in previous period 30 June 2020 (Unaudited)	Previous year ended 31 March 2021 (Audited)
Revenue	1,843	3,529	564	9,235
Expenses	2,172	4,720	1,090	11,620
Loss before tax	(329)	(1,191)	(526)	(2,385)

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DYNAMATIC TECHNOLOGIES LIMITED CIN: L 72200KA1973PLC002308 DYNAMATIC PARK, PEENYA, BANGALORE-560 058, INDIA

Statement of Unaudited Consolidated Financial results for the quarter ended 30 June 2021

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 Shareholde!·s' approval (a substantive approval) vide postal ballot dated 15 May 20 I 8. The discontinued businesses included the Aluminum 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 Govennent as a pa11 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 JKM Ferrotech Ltd ( 'JFTL' ), 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 becomes effective.

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

for and on behalf of Board of Directors of Dynamatic Technologies Limited

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Udayant Malhoutra CEO and Managing Director

Place: Bengaluru Date: 23 July 2021

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

Deloitte Haskins & Sells LLP

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

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

TO THE BOARD OF DIRECTORS OF DYNAMATIC TECHNOLOGIES LIMITED

1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of DYNAMATIC TECHNOLOGIES LIMITED ("the Company"), for the quarter ended 30 June 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

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

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (!CAI). 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 Standards on Auditing specified under section 143( 10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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

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

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Sathya P. Koushik Partner Membership No. 206920 UDIN: 21206920AAAAGY3598

Bengaluru, July 23, 2021

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DYNAMATIC TECHNOLOGIES LIMITED CIN: L72200KA1973PLC002308 DYNAMATJC PARK, PEENY A, BANGALORE-560 058, INDIA Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2021

	Statement of Unaudited Standalone Financial	Results for the q	uarter ended 30 J	une 2021	une 2021
			{INR	i11 lakhs except as '		othenvise state,!)
SI. No.	Particulars	3 months ended 30 June 2021 (Unaudited)	Preceding 3 months ended 31 March 2021 (Refer Note 6)	Corresponding 3 months ended in previous period 30 June 2020 (Unaudited)		Previous year ended 31 March 2021 (Audited)
1	Income
	a) Revenue from operations	13,261	14,951		8,937	51,374
	b) Other income	98	149		100	437
	Total income (a+b)	13,359	15,100		9,037	51,811
2	Expenses
	a) Cost of raw materials and components consumed	5,168	6,489		2,892	22,551
	b) Changes in inventories of finished goods and work-in-progress c) Employee benefits expense	1,141 1,962	1,002 2,034		367 1,800	299 8,008
	d) Finance costs	1,212	1,210		1,662	5,776
	e) Depreciation and amortisation expense	729	886		762	3,191
	f) Other expenses	2,036	2,346		1,560	8,259
	Total expenses (a+b+c+d+e+f)	12,248	13,967		9,043	48,084
s	Profit/ (loss) before tax (1 - 2)	1,111	1,133		(6)	3,727
6	Tax expense
	a) Current tax	280	361		-	1,014
	b) Deferred tax	(19)	220		10	(112)
	Total tax expense (a+b)	261	S81		10	902
7	Profit/ (loss) for the period (3 - 4)	8S0	S52		(16)	2,825
8	Other comprehensive income/(loss) (OCI) i) Items that will not to be reclassified subsequently to statement of profit
	and loss
	a) Remeasurement gain/(loss) on defined benefit plans b) Income tax relating to items that will not be reclassified to statement ol profit and loss	4 (I)	85 (21)		(20) 5	44 (11)
	ii) Items that will be reclassified subsequently to Statement of profit and
	loss
	a) Foreign currency fluctuations under a cash flow hedge - gain/(loss)	(89)	12		-	151
	b) Income tax relating to jtems that will be reclassified to statement of profit and loss	-	35		-	-
	Other comprehensive income/ (loss) for the period, net of tax	(86)	111		(IS)	184
9	Total comprehensive income/ (loss) for the period (5+6)	764	663		(31)	3,009
10	Paid-up equity share capital (face value of INR I 0/- each)	634	634		634	634
11	Reserves (Other equity)	-	-		-	32,903
	Earnings/ (loss) per equity share	(not annualised)	(not annualised)	(not annualised)		(annualised)
	Basic and Diluted (INR)	13.41	8.71		(0.25)	44.56

See accompany mg notes to these financial results.

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DYNAMATIC TECHNOLOGIES LIMITED

CIN: L72200KA1973PLC002308 DYNAMATIC PARK, PEENYA, BANGALORE-560 058, INDIA

Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2021

Annexure I: Statement of standalone segment wise revenue, results, assets and liabilities for the quarter ended 30 June 2021

	Annexure I: Statement of standalone segment wise revenue, re	sults, assets and liab	ilities for the quart	er ended	30 June 2	021
			(INR	i11 lakhs '	except as	othemise stated)
SI. No.	Particulars	3 months ended 30 June 2021 (Unaudited)	Preceding 3 months ended 31 March 2021 (Refer Note 6)	Corresponding 3 months ended in previous period 30 June 2020 (Unaudited)		Previous year ended 31 March 2021 (Audited)
1	Segment revenue
	a) Hydraulics	6,512	6,998		2,102	20,884
	b) Aerospace	6,732	7,934		6,727	30,004
	c) Others	17	19		108	486
	Revenue from operations	13,261	14,951		8,937	51,374
2	Segment results !profit/ (loss) before finance costs, other income and
	tax from each segment)
	a) Hydraulics	971	852		(408)	1,773
	b) Aerospace	1,712	2,005		2,279	9,321
	c) Others	( 13 I)	(149)		(75)	(611)
	d) Unallocated	(327'	(514'		(240	(1,417'
	Total	2,225	2,194		1,556	9,066
	Unallocable
	- Finance Cost	(1,212)	(1,2 I 0)		(1,662)	(5,776)
	- Other income	98	149		100	437
	Profit before tax	1,111	1,133		(6)	3,727
3	Segment Assets
	a) Hydraulics	12,681	12,554		13,370	12,554
	b) Aerospace	39,684	40,241		43,613	40,241
	c) Others	771	514		6,094	514
	d) Unallocated	43,276	42,032		40,242	42,032
	Segment assets	96,412	95,341		1,03,319	95,341
	e) Assets classified as held for sale (Refer Note 4)	5,562	5,562		-	5,562
	Total assets	1,01,974	1,00,903		1,03,319	1,00,903
4	Segment Liabilities
	..,
	a) Hydraulics	8,279	7,249		9,146	7,249
	b) Aerospace	6,168	6,385		9,283	6,385
	c) Others	614	548		823	548
	d) Unallocated	52,611	53,184		53,263	53,184
	Total SePment Liabilities	67 672	67 366		72 515	67 366
	See accompanymg notes to the financial results.

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DYNAMATIC TECHNOLOGIES LIMITED CIN: L 72200KA1973PLC002308 DYNAMATIC PARK, PEENYA, BANGALORE-560 058, INDIA

Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2021

Notes:

• The above standalone financial results for the quarter ended 30 June 2021 were reviewed by the Audit Committee has been approved by the Board of Directors at its meeting held on 23 July 2021. The statutory auditors of the Company have carried out the limited review of the unaudited standalone financial results for the quarter ended 30 June 2021 and have issued an unmodified conclusion.

• 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 carrying value of property, plant and equipment and investments. Such assessment 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 becomes 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 Aluminum business and the Wind farm 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 Goverment 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 JKM Ferrotech Ltd ( 'JFTL' ), 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 The figures for the quarter ended 3 I March 2021 are the balancing figures between the audited figures in respect of the full financial year 31 March 2021 and published year to date figures up to third quarter ended 31 December 2020.

for and on behalf of Board of Directors of Dynamatic Technologies Limited

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Udayant Malhoutra CEO and Managing Director

Place: Bengaluru Date: 23 July 2021

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