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29th May, 2024 | |
The Secretary | Listing Department |
BSE Limited | National Stock Exchange of India Ltd. |
Phiroze Jeejeebhoy Towers, | Exchange Plaza, |
Dalal Street, Fort, | Bandra - Kurla Complex, Bandra (E) |
Mumbai - 400 001 | Mumbai - 400 051 |
BSE Code: 500645 | NSE Code: DEEPAKFERT |
Dear Sir/ Madam, |
Sub: Outcome of the Board Meeting held on 29th May, 2024
In terms of provisions of Regulation 30 and 33 (read with Part A of Schedule III) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company held today have:
1. Approved the following statements for the quarter and year ended 31st March, 2024:
- Statement of Standalone Audited Financial Results for the quarter and year ended 31st March, 2024 along with Audit Report.
- Statement of Consolidated Audited Financial Results for the quarter and year ended 31st March, 2024 along with Audit Report.
The Audit reports are submitted with unmodified opinion (free from any qualifications) and a declaration to this effect is enclosed.
2. Recommended dividend at the rate of Rs. 8.5/- per equity share of face value of Rs.10/- each of the Company for the financial year ended 31st March, 2024.
The dividend, if declared at the ensuing Annual General Meeting (AGM) of the Company, will be paid to the shareholders within 30 days of the Annual General Meeting. Further, the Register of Members of the Company will remain closed from Wednesday, 4th September, 2024 to Tuesday, 10th September, 2024 (both days inclusive) for the purpose of payment of Dividend and AGM of the Company.
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- Approved the appointment of P G Bhagwat LLP, Chartered Accountants to carry out the tax audit of the Company under Section 44AB of the Income Tax Act, 1961 for the financial year 2023-24.
- Approved the appointment of Mr. Ashish Garg, Practicing Company Secretary for conducting Secretarial Audit of the Company for the financial year 2024-25.
- Approved the appointment of M/s Harshad Deshpande & Associates, Cost Accountants (Firm Registration No. 00378) as Cost Auditors of the Company for the financial year 2024-25. However, the remuneration payable to the Cost Auditor will be subject to the ratification by the Shareholders of the Company at the ensuing Annual General Meeting.
- Decided to hold the 44th AGM of the Company on Tuesday, 10th September, 2024.
The information in regard to the above mentioned appointments in terms of Regulation 30 of Listing Regulations, 2015 read with SEBI Master Circular dated 11th July, 2023 is enclosed herewith.
The meeting commenced at 10:30 a.m. and concluded at 2.45 p.m.
We request you to take the same on your record.
Thanking you,
Yours faithfully,
For Deepak Fertilisers
And Petrochemicals Corporation Limited
GAURAV UMAKANT MUNOLI
Digitally signed by GAURAV UMAKANT MUNOLI
Date: 2024.05.29 14:45:10 +05'30'
Gaurav Munoli
Company Secretary
Encl: as above.
29th May, 2024 | |
The Secretary | Listing Department |
BSE Limited | National Stock Exchange of India Ltd. |
Phiroze Jeejeebhoy Towers, | Exchange Plaza, |
Dalal Street, Fort, | Bandra - Kurla Complex, Bandra (E) |
Mumbai - 400 001 | Mumbai - 400 051 |
BSE Code: 500645 | NSE Code: DEEPAKFERT |
Dear Sir/ Madam, |
Sub: Declaration in terms of Regulation 33(3)(d) of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015
In terms of the second proviso to Regulations 33(3) (d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we confirm that the Statutory Auditors of the Company have given Unmodified Opinion(s), read with matter of emphasis on the Annual Audited Financial Results (standalone and consolidated) of the Company for the financial year ended 31st March, 2024.
We request you to take the same on your record.
Thanking you,
Yours faithfully,
For Deepak Fertilisers
And Petrochemicals Corporation Limited
GAURAV UMAKANT MUNOLI
Gaurav Munoli
Digitally signed by GAURAV UMAKANT MUNOLI
Date: 2024.05.29 14:45:43 +05'30'
Company Secretary
P G BHAGWAT LLP | HEAD OFFICE |
Chartered Accountants | Suites 102, 'Orchard' |
LLPIN: AAT-9949 | Dr. Pai Marg, Baner, Pune - 45 |
Tel (O): 020 - 27290771/1772/1773 | |
Email: pgb@pgbhagwatca.com | |
Web: www.pgbhagwatca.com |
INDEPENDENT AUDITORS' REPORT
To
The Board of Directors of Deepak Fertilisers and Petrochemicals Corporation Limited
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying Standalone Financial Results of Deepak Fertilisers and Petrochemicals Corporation Limited ("the Company") for the year ended March 31, 2024, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, these Standalone Financial Results:
- are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
- give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended March 31, 2024.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Standalone Financial Results under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Offices at: Mumbai | Kolhapur | Belagavi | Dharwad | Bengaluru
Page 1 of 3 | DFPCL_Standalone_Audit Report_SEBI_23-24 |
P G BHAGWAT LLP
Chartered Accountants
LLPIN: AAT-9949
Board of Director's Responsibilities for the Standalone Financial Results
The Company's Board of Directors are responsible for the preparation and presentation of these Standalone Financial Results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the accounting principles generally accepted in India including the Indian Accounting Standards (Ind AS) specified under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended and in compliance with Regulation 33 of the Listing Regulations.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Standalone Financial Results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Standalone Financial Results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial Results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit.
We also:
- Identify and assess the risks of material misstatement of the Standalone Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
Page 2 of 3 | DFPCL_Standalone_Audit Report_SEBI_23-24 |
P G BHAGWAT LLP
Chartered Accountants
LLPIN: AAT-9949
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
- Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the Standalone Financial Results, including the disclosures, and whether the Standalone Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The quarterly Standalone Financial Results for the period ended March 31, 2024 are the derived figures between the audited figures in respect of the year ended March 31, 2024 and the published year-to-date figures up to December 31, 2023, being the date of the end of the third quarter of the current financial year, which were subjected to limited review as required under Listing Regulations. Our opinion is not modified in respect of the above matter.
For P G BHAGWAT LLP
Chartered Accountants
Firm Registration Number: 101118W/W100682
Abhijeet Bhagwat
Partner
Membership Number: 136835
UDIN: 24136835BKBGVN2211
Pune
May 29, 2024
ABHIJEET DILIP BHAGWAT
Digitally signed by ABHIJEET DILIP BHAGWAT DN: c=IN, o=Personal, pseudonym=133027691950087463JO1PdSM 4P1VDLn, 2.5.4.20=a2e480decf7efedb3754d30ac91ad0 d7f4f2f3415444d3d618544383c9ff5894, postalCode=411045, st=Maharashtra, serialNumber=3e84e00e23ec9c2ae8809fce7f e37090afc57d5bf4bb654cd0bd089028567b8 5, cn=ABHIJEET DILIP BHAGWAT
Date: 2024.05.29 13:29:09 +05'30'
Page 3 of 3 | DFPCL_Standalone_Audit Report_SEBI_23-24 |
P G BHAGWAT LLP | HEAD OFFICE |
Chartered Accountants | Suites 102, 'Orchard' |
LLPIN: AAT-9949 | Dr. Pai Marg, Baner, Pune - 45 |
Tel (O): 020 - 27290771/1772/1773 | |
Email: pgb@pgbhagwatca.com | |
Web: www.pgbhagwatca.com |
INDEPENDENT AUDITORS' REPORT
To
The Board of Directors of Deepak Fertilisers and Petrochemicals Corporation Limited
Report on the Audit of Consolidated Financial Results
Opinion
We have audited the accompanying Consolidated Financial Results of Deepak Fertilisers and Petrochemicals Corporation Limited (hereinafter referred to as the "Holding Company"), its Subsidiaries (Holding Company and its Subsidiaries together referred to as "the Group") and its Joint Operation for the year ended March 31, 2024, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of reports of other auditors on separate financial statements and on the other financial statements/financial information prepared by the Management these Consolidated Financial Results:
- include the results of the following entities Subsidiaries
- Mahadhan AgriTech Limited
- Platinum Blasting Services Pty Limited
- Australian Mining Explosives Pty Limited
- Performance Chemiserve Limited
- Deepak Mining Solutions Limited (Formerly known as Deepak Mining Services Private Limited)
- SCM Fertichem Limited
- Deepak Nitrochem Pty Limited
- Mahadhan Farm Technologies Private Limited
- Ishanya Brand Services Limited
- Ishanya Realty Corporation Limited
Joint Operation
- Yerrowda Investments Limited
- are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
Offices at: Mumbai | Kolhapur | Belagavi | Dharwad | Bengaluru
Page 1 of 5 | DFPCL_Consolidated_Audit Report_SEBI_23-24 |
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Deepak Fertilizers and Petrochemicals Corporation Ltd. published this content on 29 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 May 2024 11:33:05 UTC.