Shree Digvijay Cement Company Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2021
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2021
Notes :
1.The standalone and consolidated financial results for the quarter and nine months ended December 31, 2021 have been reviewed by the Audit Committee at it's meeting held on January 27, 2022 and approved by the Board of Directors at it's meeting held on January 27, 2022. The statutory auditors have expressed an unmodified review opinion on these financial results.
2.The Company has only one reportable segment, viz Manufacture and Sale of Cement, in accordance with Ind AS 108 - "Operating Segments", both at standalone as well as group level.
3.In the events arising from COVID - 19 pandemic, the Company has made detailed assessment of its liquidity position and recoverability of carrying amount of financial and non-financial assets and concluded that there is no material adjustments required in the standalone and consolidated financial results for the quarter and nine months ended December 31, 2021. The Company will continue to monitor any material changes to future economic conditions.
4.During the nine months ended December 31, 2021, the Company has allotted 15,63,002 equity shares of Rs.10/- each to the option grantees upon exercise of Option under the Company's Employees Stock Option Scheme - 2019. Pursuant to this allotment, the paid up equity share capital of the Company has increased from 14,22,92,276 equity shares of Rs.10/- each to 14,38,55,278 equity shares of Rs.10/- each.
5.On July 28, 2020, SDCCL Logistics Limited was incorporated as a wholly owned subsidiary of the Company, having paid up capital of Rs.1,00,000 (10,000 equity shares of Rs.10 each). With the incorporation of subsidiary, the Company has prepared consolidated financial results from the quarter ended September 30, 2020.