A. F. FERGUSON & CO. (CHARTERED ACCOUNTANTS 9, SCINDIA HOUSE, KASTURBA GANDHI MARG, NEW DELHI- 11001 INDEPENDENT AUDITORS’ REVIEW REPORT TO THE BOARD OF DIRECTORS OF DCM SHRIRAM INDUSTRIES LIMITED 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of DCM SHRIRAM INDUSTRIES LIMITED (“the Company”) for the quarter and six months ended September 30, 2015 ("the Statement”), being submitted by the Company pursuant to the requirement of Clause 41 of the Listing Agreement with the Stock Exchange, except for the disclosures in Part II - Select Information referred to in paragraph 6 below. This Statement is the responsibility of the Company's Management ‘and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review. 2. 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. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to uiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and, accordingly, we do not express an audit opinion. 3. AS per the policy followed by the Company for preparation of quarterly results, the sugar off-season expenditure amounting to Rs. 1121 lacs and Rs. 1809 lacs for the quarter and six months ended September 30, 2015 respectively have been deferred for inclusion in the cost of sugar to be produced in the remaining part of the financial year. Had the Company charged expenditure so incurred to the accounting period in which such ‘expenses were incurred, the decrease in stock in trade would have been higher by Rs. 1060 lacs and Rs. 1393 lacs for the quarter and six months ended September 30, 2015 respectively and profit after tax would have been lower by Rs. 693 lacs and Rs. 911 lacs for the quarter and six months ended September 30, 2015 respectively (refer note 1 of the statement). 4. Based on our review conducted as stated above, except for the matter referred to in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in accordance with the Accounting Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Clause 41 of the Listing Agreement with the Stock Exchange, including the manner in which It is to be disclosed, or that it contains any material misstatement. \. a “TELEPHONES : 91-11-2991 5864, 2571 3899+ FAX : 91-11-2391 4961 * E-MAIL 5 alldelbi@bolnenin BANGALORE + CHENNAI+ HYDERABAD + JAMSHEDPUR * KOLKATA + MUMBAI + PUNE* VADODARA MIDDLE EAST) DUBAI(U. A.) + MUSCAT (OMAN)‘A. F. FERGUSON & CO. 5. Further, we also report that we have traced the number of shares as well as the percentage of shareholding in respect of the aggregate amount ‘of public shareholding and the number of shares as well as the percentage of shares pledged/encumbered and non-encumbered in respect of the aggregate amount of promoters and promoter group shareholding in terms of Clause 35 ‘of the Listing Agreement with the Stock Exchange and the particulars relating to investor complaints disclosed in Part II - Select Information for the quarter and six months ended September 30, 2015 of the Statement, from the details furnished by the Management/Registrars. For A. F. FERGUSON & CO. Chartered Accountants (Firm's Registration No. 112066W) ovr aafdeep Bhargava Partner (Membership No. 090295) New Delhi, November 06, 2015 syDCM SHRIRAM INDUSTRIES LIMITED acharenge Bg. 8 Barbas Rod, Now Das =170001 ‘eu 237900, x01) 23310404 2S907HE, pie sna com, Era cage com CN? LTABHOLIBRPLCONEYAO PART: STATEMENT OF UNAUOVTED FINANCIAL RESULTS FOR THE QUARTER ANO SIX MONTHS ENDED 30TH SEPTEMBER, 916 PARTICULARS 7 [ineome from operations (a) Net Salas income tom operations (Neto excite dy) () Otter Operating Income Tata (1) expenses 2) Cost of matails consumed 1) Purchases of stock trade 6) Changes in ventas of trished goods, ‘won progress and stockn-rade 6) Employee benets expense ©) Depreciation and amotsaton 1) Stews, Spares & Components 9) Power & Fue! 1) Other expenses Total (2) Prof ftom Operations bolore othe income and nance coats (1-2) mer income Proft tom oxtnary activities before finance costs (34) |Fance costs Prot (Loss om ordinary activites before tax (5 ~6) rex expense het Prot (.ose) ater tax (7 Paitup equty share capt (Face vehi Rs. 107) Reserves excktng revahaion reserve [Gave and luted earings per share 10 " 2 “Thies months: ‘Six month feseenaeiceara| a {tuna sane] 20636] 31780] 88220) ended j20%4] 34.03 205 20213] 1525] ‘eocz| — 3a202 36304] 240] 1976 2124s} ‘asia ra19| 7202 ‘454 na12 2648} 2157| 278] 2208 45 18 17 2206| s1yo7| 607 905] 2560) «s70) 482 1514 078] rl ‘aaao] 25736) aoeta| 54222] 1605 26] | 2s3| yal 20 s79| zal 1704 2651 1000] 1105] 2080] 88 124 07] a 38 7) a) a) 325] 219 725310] 4540) sts] 2120] 2388 as| 1824 a) 15383 soo] 252] of the oa shareholding of promoters and rome group < tro he oa share capital of he Company (0) Non: Encumbered = Number of Shares (000) hat the otal shareholding of promaters and promoter group = of he total share capa of he Company e731 550% e731] 55.0 ‘PARTICULARS. TAVESTOR COMPLAINTS ‘Pending atte bognang ofthe quarter Received dig the quarter Deposed of during the quarter FRemaning unresolved atthe nd of the querer Proce = New Det Dated 06-112015DCM SHRIRAM INDUSTRIES LIMITED ‘Segmentwise Revenue, Results and Capital Employed S.No. PARTICULARS | (a) Sugar* ) Industrial Fibres and related products fe) Chemicals Total [Less intr sepment revenue (Loss) before tax & finance costs fe) Sugar fo) Industria Fibres and related products (©) Chemicals Total (Less: Fiance costs 1) Other unalocable expenditure net of unatocabie income [Total Profit (Loss) before tax Employed [Segment assets - Segment labites) 2) Sugar Jo inst Fires and relates products 9 Chemicals [Totat Segment Capital Employed * Comprising of sugar, power and alcohol.Notes: 1 In accordance with the accounting policy consistently followed by the Company, off-season ‘expenditure aggregating Rs. 1809 lacs (corresponding previous six months Rs. 2184 lacs) has been eferred for inclusion in the cost of sugar to be produced in the remainder of the year and is considered as “Inventory” for these results 2 During the quarter Govt. of Uttar Pradesh disbursed the full amount of subsidy of Rs. 4817 lacs due to the Company for sugar season 2014-15. 3 Proceedings in a Petition challenging the Preferential Issue of capital by the Company filed by a shareholder before the Hon'ble Company Law Board are continuing since November 2007. 4. Previous period figures have been regrouped / recast, wherever necessary, 5 The above results have been approved and taken on record by the Board of Directors in their meeting held on 6* November, 2016, 6 ‘Statement of Assets and Liabilities is as under {fsiacs) Sixwonihe | Year PARTICULARS x 4.-Sharoholders' Funds (a) Share Capital (b) Reserves and surplus ‘Sub-total ~ Shareholders’ funds| 2.Non-current liabilities (a) Long-term borrowings 982} 8117} (b) Deferred tax ibis (Net) 558 53 {©)omer ng term tbites : rc (6) Long-term provisions 927] Sub-total -Non-curront labil i i ‘3. Current liabilities: (a) Short-term borrowings: 18775 rer (0) Trade payables 18743 2468 ()Other curent iabitties 504 6407] (a) Short-term provisions 257} 431] Sub-total - Current z ai FAL — EQUITY AND LIABILITII 80361 99 8. ASSETS 4.Non-current assots (a) Fixed assets 32 (b) Non-current investments 81 6 (c) Long-term loans and advances 3471] 334: Sub-total -Non-current assets] 36747 2.Current assets (a) Current investments 707] 1242 (bylnventories (efer note 1) 297 42 (c) Trade receivables 7 (@)Cash and bank balances (@)Shortterm loans and advances 281 4255 (f) Other current assets. 4 3978 Subtotal Curent seats 43617 TOTAL ~ ASSt 80364] 997 Limited Review ‘The Limited Review, as required under Clause 41 of the Listing Agreement has been completed by the Statutory Auditors. The Limited Review Report for the quarter and six months ended 30" September, 2015 doesnot have any impact on the above Results and Notes n aggregate except in respect of mater explained in Note 1