Shree Digvijay Cement Company Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2022

Notes :-



1.The standalone and consolidated financial results for the quarter and nine months ended December 31, 2022 have been reviewed by the Audit Committee at it's meeting held on January 27, 2023 and approved by the Board of Directors at it's meeting held on January 27, 2023. The statutory auditors have expressed an unmodified review opinion on these financial results.



2. 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. During the quarter ended December 31, 2022, the Company has allotted 9,00,000 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 14,43,02,778 equity shares of Rs.10/- each to 14,52,02,778 equity shares of Rs.10/- each.



4. While filing its Income Tax Return for the Assessment Year 2022-23, basis the legal advice obtained, the Company had claimed ESOP expense as allowable expenditure and accordingly accounted for reversal of tax provision of earlier year of Rs.336.83 lakhs during the quarter ended December 31, 2022 which is shown as tax adjustment in these financial results.



5.During the quarter ended December 31, 2022 the Company has accounted shutdown expenses of Rs.1,330 lakhs (during the quarter ended December 31, 2021: Rs.325 lakhs) under other expenses.