STANDALONE

DCM SHRIRAM LIMITED

Regd. Office : 1st Floor, Kanchenjunga Building, 18, Barakhamba Road, New Delhi - 110 001
CIN: L74899DL1989PLC034923 E-mail: response@dcmshriram.com Website: www.dcmshriram.com Tel: 91 11 23316801 Fax: 91 11 23318072

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2017
(Rs. in Crores)
Quarter Ended Half Year Ended Year Ended
30.09.2017 30.06.2017 30.09.2016 30.09.2017 30.09.2016 31.03.2017
PARTICULARS
(1) (2) (3) (4) (5) (6)
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Revenue from operations
Gross Sales (Refer note 3) 1,571.03 2,020.31 1,416.38 3,591.34 2,909.94 6,031.26
Other operating revenue 5.83 4.45 6.74 10.28 11.97 29.68
Total revenue from operations 1,576.86 2,024.76 1,423.12 3,601.62 2,921.91 6,060.94
Other income 16.25 13.28 14.43 29.53 29.46 54.20

Total Income 1,593.11 2,038.04 1,437.55 3,631.15 2,951.37 6,115.14

Expenses
(a) Cost of materials consumed 224.18 455.06 205.11 679.24 405.79 2,099.27
(b) Purchases and related cost of stock-in-trade 187.75 263.58 316.60 451.33 584.00 1,172.48
(c) Changes in inventories of finished goods,
stock-in-trade and work-in-progress 400.48 394.76 266.96 795.24 570.82 (249.28)
(d) Excise duty on sale of goods - 106.08 80.42 106.08 152.50 328.48
(e) Employee benefits expense 138.11 138.12 120.47 276.23 238.96 503.40
(f) Finance costs 19.89 25.07 13.47 44.96 32.36 72.89
(g) Depreciation and amortisation expense 35.23 31.01 26.19 66.24 49.39 111.07
(h) Power, fuel etc. 212.81 218.07 205.70 430.88 362.57 776.37
(i) Other expenses 124.49 120.61 101.88 245.10 236.02 624.33
Total expenses 1,342.94 1,752.36 1,336.80 3,095.30 2,632.41 5,439.01
Profit before exceptional item and tax 250.17 285.68 100.75 535.85 318.96 676.13
Exceptional Item:
Provision for impairment of investments in foreign subsidiaries - - - - - 85.12
(Bioseed business)
Profit before tax 250.17 285.68 100.75 535.85 318.96 591.01
Tax expense
- Current tax 63.89 34.68 (3.87) 98.57 12.32 39.59
- Deferred tax 13.84 18.00 4.32 31.84 27.44 40.40
- Tax adjustment related to earlier year - * - - - * - (11.05)
Profit after tax 172.44 233.00 100.30 405.44 279.20 522.07
Other comprehensive income
A (i) items that will not be reclassified to profit or loss (2.00) (2.00) - (4.00) - (12.84)
(ii) income tax relating to items that will not be reclassified to profit
or loss 0.69 0.69 - 1.38 - 4.45
B (i) items that may be reclassified to profit or loss 0.34 0.89 (1.49) 1.23 1.44 1.41
(ii) income tax relating to items that may be reclassified to profit or
loss (0.11) (0.31) (0.50) (0.42) (0.50) (0.49)

Total Comprehensive income (after tax) 171.36 232.27 98.31 403.63 280.14 514.60
Profit before interest, depreciation, tax and exceptional items
(EBIDTA) 305.29 341.76 140.41 647.05 400.71 860.09
Basic/Diluted - EPS (Rs. per equity share)
- Before exceptional item 10.62 14.35 6.18 24.96 17.19 37.06
- After exceptional item 10.62 14.35 6.18 24.96 17.19 32.14

* Refer note 5
 STANDALONE
Segment wise Revenue, Results, Assets and Liabilities

(Rs. in Crores)
PARTICULARS Quarter Ended Half Year Ended Year Ended
30.09.2017 30.06.2017 30.09.2016 30.09.2017 30.09.2016 31.03.2017
(1) (2) (3) (4) (5) (6)
Unaudited Unaudited Unaudited Unaudited Unaudited Audited

A. Segment Revenue
Chloro-Vinyl 484.71 501.39 374.19 986.10 746.18 1,584.21
Sugar 516.49 659.79 396.03 1,176.28 671.93 1,601.02
Shriram Farm Solutions 149.49 276.73 241.89 426.22 528.60 1,015.41
Bioseed 59.25 281.37 43.53 340.62 310.06 413.39
Fertiliser 196.43 168.36 174.28 364.79 344.59 746.76
Others 183.76 235.02 199.35 418.78 431.43 849.98

Total 1,590.13 2,122.66 1,429.27 3,712.79 3,032.79 6,210.77

Less: Inter segment revenue 13.27 97.90 6.15 111.17 110.88 149.83

Total Revenue from operations 1,576.86 2,024.76 1,423.12 3,601.62 2,921.91 6,060.94
B. Segment Results
Profit/(loss) (before unallocated expenditure,
finance cost and tax)
Chloro-Vinyl 178.68 143.10 71.91 321.78 193.09 398.70
Sugar 74.08 108.10 62.53 182.18 94.10 315.40
Shriram Farm Solutions 6.98 11.18 (2.74) 18.16 7.32 28.65
Bioseed (2.95) 77.86 (3.29) 74.91 65.79 52.09
Fertiliser 33.24 1.02 5.58 34.26 22.45 54.99
Others 11.11 10.26 2.68 21.37 12.67 13.05

Total 301.14 351.52 136.67 652.66 395.42 862.88

Less:
i) Finance costs 19.89 25.07 13.47 44.96 32.36 72.89
ii) Other unallocable expenditure
net off unallocated income 31.08 40.77 22.45 71.85 44.10 113.86
iii) Exceptional item:
Provision for impairment of investment in
foreign subsidiaries (Bioseed business) - - - - - 85.12

Profit before tax 250.17 285.68 100.75 535.85 318.96 591.01

C. Segment Assets
Chloro-Vinyl 1,306.40 1,331.84 1,320.07 1,306.40 1,320.07 1,303.33
Sugar 1,010.94 1,367.52 925.70 1,010.94 925.70 1,743.61
Shriram Farm Solutions 507.50 517.13 632.19 507.50 632.19 540.35
Bioseed 546.14 590.94 425.44 546.14 425.44 611.34
Fertiliser 446.00 324.78 301.08 446.00 301.08 505.21
Others 279.09 277.80 297.55 279.09 297.55 286.37
Unallocated 1,107.35 919.52 474.81 1,107.35 474.81 549.35
Total 5,203.42 5,329.53 4,376.84 5,203.42 4,376.84 5,539.56
D. Segment Liabilities
Chloro-Vinyl 267.67 277.51 372.31 267.67 372.31 255.62
Sugar 534.03 586.40 210.17 534.03 210.17 725.17
Shriram Farm Solutions 155.29 122.81 181.66 155.29 181.66 159.86
Bioseed 228.45 313.74 138.53 228.45 138.53 378.01
Fertiliser 105.07 113.11 91.66 105.07 91.66 110.82
Others 188.34 185.77 166.69 188.34 166.69 180.12
Unallocated 796.21 957.79 814.14 796.21 814.14 1,189.83
Total 2,275.06 2,557.13 1,975.16 2,275.06 1,975.16 2,999.43
 STANDALONE

(Rs. in Crores)
PARTICULARS As at As at
30.09.2017 31.03.2017
Unaudited Audited
ASSETS

Non-current assets
(a) Property, Plant and equipment 1,871.90 1,895.89
(b) Capital work -in- progress 100.29 28.29
(c) Investment property 6.71 6.76
(d) Intangible assets 28.01 27.49
(e) Intangible assets under development 3.25 4.25
(f) Financial assets
(i) Investments 67.36 26.07
(ii) Trade receivables 1.39 1.89
(iii) Loans 118.39 127.97
(iv) Other financial assets 38.27 39.35
(g) Deferred tax assets (net) 69.88 85.53
(h) Other non-current assets 91.78 65.68
Total- Non-current assets 2,397.23 2,309.17

Current assets
(a) Inventories 744.51 1,582.11
(b) Financial assets
(i) Trade receivables 904.39 977.41
(ii) Cash and cash equivalents 686.97 188.33
(iii) Bank balances other than cash and cash equivalents 9.33 7.68
(iv) Loans 75.38 61.02
(v) Other financial assets 33.47 30.29
(c) Current tax assets (net) - 11.63
(d) Other current assets 246.41 256.79
Total Current assets 2,700.46 3,115.26

Assets classified as held for sale 105.73 115.13

TOTAL- ASSETS 5,203.42 5,539.56

EQUITY AND LIABILITIES

EQUITY
(a) Equity Share capital 32.64 32.64
(b) Other Equity 2,895.72 2,507.49
Total- Equity 2,928.36 2,540.13

LIABILITIES
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings 442.06 471.94
(ii) Other Financial liabilities 2.59 4.02
(b) Provisions 197.91 183.55
(c) Other non-current liabilities 0.88 0.92
Total- Non-current liabilities 643.44 660.43

Current liabilities
(a) Financial Liabilities
(i) Borrowings 140.38 507.98
(ii) Trade payables 893.54 1,124.86
(iii) Other financial liabilities 198.56 224.22
(b) Other current liabilities 343.70 433.40
(c) Provisions 40.29 40.29
(d) Current tax liabilities (net) 6.32 -
Total current liabilities 1,622.79 2,330.75

Liabilities associated with assets classified as held for sale 8.83 8.25
Total- LIABILITIES 2,275.06 2,999.43

TOTAL- EQUITY AND LIABILITIES 5,203.42 5,539.56

NOTES TO STANDALONE RESULTS:

1. The Board of Directors has declared an interim dividend of Rs. 4/- per equity share of Rs. 2/- each aggregating to
Rs. 78.19 crores (including dividend distribution tax).

2. In accordance with the accounting policy consistently followed by the Company for interim results, the off-season
expenditure aggregating Rs. 26.02 crores for the quarter and Rs. 43.24 crores for the half year ended September 30,
2017 (corresponding quarter and half year: Rs. 21.53 crores and Rs. 38.31 crores respectively) has been deferred for
inclusion in the cost of sugar to be produced in the remaining part of the financial year and is considered as 'inventory'
for these results.

3. According to the requirements of Schedule III of the Companies Act 2013, sales for the quarter ended June 30, 2017 and
earlier periods presented in these financial results are inclusive of excise duty. Consequent to applicability of Goods and
Service Tax (GST) w.e.f. July 1, 2017, sales are shown net of GST in accordance with requirements of Ind AS-18
'Revenue'. The Sales net of Excise Duty/GST for all periods is as given below:

(Rs. in crores)
Quarter ended Half year ended Year ended
30.09.2017 30.06.2017 30.09.2016 30.09.2017 30.09.2016 31.03.2017
Sales (net) 1,571.03 1,914.23 1,335.96 3,485.26 2,757.44 5,702.78

4. Some of the business segments are of seasonal nature and accordingly impact the results in the respective quarters.

5. The tax provision for financial year ended March 31, 2017 has been re-calculated after considering accelerated
depreciation for power plants in FY 17, whereby current tax charge is reduced by Rs 30.47 crores and deferred tax
charge is increased by Rs 30.47 crores. There is no impact of the same on overall results.

6. Previous period figures have been regrouped, wherever necessary.

7. The above results were reviewed by Audit Committee and then approved by the Board of Directors in their
meeting held on November 7, 2017.

Limited Review

The statutory auditors have completed the Limited Review for the quarter and half year ended September 30, 2017. The
Limited Review Report for the quarter and half year ended September 30, 2017 does not have any impact on the above
Results and Notes in aggregate except in respect of matter explained in note 2 above.

For and on behalf of the Board

Place: New Delhi AJAY S. SHRIRAM

Date: November 7, 2017 Chairman & Senior Managing Director
DIN: 00027137