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

1) The standalone and consolidated financial results for the quarter and year ended March 31, 2022 have been reviewed by the Audit Committee at it's meeting held on April 26, 2022 and approved by the Board of Directors at it's meeting held on April 27, 2022. The statutory auditors have expressed an unmodified audit 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 year ended March 31, 2022.



4) During the year ended March 31, 2022, the Company has allotted 17,35,502 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 14,40,27,778 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.



6) The Board has recommended a final Dividend of Rs. 2.00/- (i.e. 20%) per equity share of Rs. 10/- each on 14,40,27,778 fully paid Equity Shares for the financial year 2021-22, aggregating to Rs. 2,880.56 lakhs. This will be in addition to the interim dividend of Rs.1.5/- (i.e. 15%) per equity shares of Rs. 10/- each already paid during the year.



7) The Indian Parliament has approved the Code on Social Security, 2020 ('Code') which may likely impact the contributions made by the Company towards Provident Fund and Gratuity. The Company will assess the impact and its evaluation once the corresponding rules are notified and will give appropriate impact in the financial statements in the period in which the Code becomes effective and the related rules are notified.



8) The figures of the quarter ended March 31, 2022 and corresponding quarter ended in previous year as reported in these financial results are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the nine months of the relevant financial year.