Diffusion Engineers Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2024

Notes to unaudited standalone financial results for quarter ended 31st December, 2024


1. The equity shares of the Company have been listed on National Stock Exchange of India Limited ("NSE") and on BSE Limited ("BSE") on October 4, 2024 by completing Initial Public Offer (''the IPO") of 93,55,000 equity shares of face value of Rs. 10/-each at an issue price of Rs. 168/-per equity share (including share premium of Rs. 158/-per equity share) aggregating to Rs. 1,571.64 million and 50,000 equity shares to employees of face value of Rs. 10 each and an issue price of Rs. 160/- per equity shares (including share premium of Rs. 150/- per equity share) aggregating to Rs. 8 million. Total amount aggregating to Rs. 1,579.64 million. Rs. 750.07 million was received from Anchor investors on 25th September 2024 and subsequently allotment was done on 1st October 2024.

Accordingly the above statement of standalone unaudited financial results for the quarter and nine month ended 31st December, 2024 are drawn up for the first time in accordance with the requirement of Regulation 33 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulations, 2015 as amended, accordingly the figures for the quarter and six months ended 31st December, 2024 have not been reported.

2. These unaudited financial results have been prepared in accordance with Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act.2013 and other accounting principles generally accepted in India and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

3. The above standalone unaudited financial results for the quarter ended 31st December, 2024 and for the nine-month ended 31st December, 2024 in respect of Diffusion Engineers Limited have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 7th February, 2025. The Statutory auditors have expressed unmodified opinion on financial results for the quarter ended 31st December, 2024 and for the nine-month ended 31st December, 2024.

4. The figures for the quarter ended 31st December, 2024 are the balancing figures between the unaudited standalone figures upto the nine months ended 31st December, 2024 and unaudited, reviewed published standalone figures of quarter ended 30 September, 2024. March 31, 2024 extracted from the audited Financials Statement of that period.

5. As a result of the Management review mechanism, the Company has one segment “Welding Fabrication Technology and Engineering” which includes Manufacturing, Trading and Job Work.

6. Issue Expenditure related to IPO has been adjusted against the Securities Premium and accordingly Exceptional Expenses for the quarter and half year ended 30th September, 2024 Rs. 1.31 million and Rs. 1.49 million respectively have been reversed during the quarter and nine months period ended 31st December, 2024

7. The figures of previous periods / year are reclassified, regrouped and rearranged wherever necessary so as to make them comparable with current period's figures

8. Diluted EPS for the quarter and half-year ended 30th September 2024, and EPS for the quarter and nine months ended 31st December 2024, have been calculated based on the total number of shares post-listing, which is 37,426,259.