CONSOLIDATED FINANCIAL STATEMENTS
FORTY THIRD ANNUAL REPORT 2019-20
| Notes | Year ended March 31, 2020 |
Year ended March 31, 2019 |
||
| A | CASH FLOW FROM OPERATING ACTIVITIES | |||
| Profit before tax | 26,193.25 | 22,098.96 | ||
| Adjustments for: | ||||
| Share of Profit of the Associates | (5,746.10) | (7,389.82) | ||
| Depreciation and Amortisation | 256.11 | 175.20 | ||
| Impairment on Financial Instruments (Expected Credit Loss) | 5,951.12 | 1,165.70 | ||
| Expense on Employee Stock Option Scheme | 15.96 | 245.98 | ||
| Profit on loss of control in Subsidiary | (9,799.10) | - | ||
| Net gain on fair value changes | 182.12 | (750.59) | ||
| Profit on Sale of Investments | (2.45) | (21.63) | ||
| (Profit) / Loss on Sale of Investment Properties and Fixed Assets (Net) | (35.11) | (66.83) | ||
| Interest Expense | 31,901.06 | 29,012.79 | ||
| Interest Income | (45,253.26) | (45,827.48) | ||
| Surplus from deployment in Cash Management Schemes of Mutual Funds | (1,118.90) | (997.71) | ||
| Utilisation of Shelter Assistance Reserve | (3.17) | (14.94) | ||
| Operating Profit before Working Capital changes | 2,541.53 | (2,370.37) | ||
| Adjustments for: | ||||
| Decrease/(Increase) in Financial Assets and Non Financial Assets | (3,535.38) | (2,481.80) | ||
| (Decrease)/Increase in Financial and Non Financial Liabilities | 3,270.61 | 1,680.78 | ||
| Decrease/(Increase) in Assets pertaining to Insurance Business | (14,194.94) | (22,377.06) | ||
| (Decrease)/Increase in Liabilities pertaining to Insurance Business | 13,545.65 | 20,172.92 | ||
| Cash from / (used) for Operations | 1,627.47 | (5,375.53) | ||
| Interest Received | 46,372.16 | 46,513.71 | ||
| Interest Paid | (31,775.66) | (28,101.80) | ||
| Taxes Paid | (3,967.98) | (3,485.40) | ||
| Net cash from Operations | 12,255.99 | 9,550.98 | ||
| Investments in schemes of Mutual Fund (Net) | (10,312.48) | (6,091.39) | ||
| Loans disbursed (net) | (29,899.40) | (47,354.55) | ||
| Corporate Deposits (net) | 1,070.88 | (406.45) | ||
| Net cash used in Operating activities | A | (26,885.01) | (44,301.41) | |
| B. | CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of Fixed Assets | (356.14) | (211.78) | ||
| Sale of Fixed Assets | 3.82 | 31.60 | ||
| Net Cash used for Fixed Assets | (352.32) | (180.18) | ||
| Purchase of Investment Properties | (296.25) | (17.28) | ||
| Sale of Investment Properties | 65.43 | 127.45 | ||
| Net Cash flow from / used for Investment Properties | (230.82) | 110.17 | ||
| Investments in Subsidiary Companies | (1,495.81) | (121.24) | ||
| Investments in Associate Companies | (86.71) | (8,569.75) | ||
| Other Investments (Net) | (9,347.13) | (1,554.61) | ||
| Sale proceeds of Investments in Subsidiary Companies | 1,639.14 | - | ||
| Net cash used for Investing activities | B | (9,873.65) | (10,315.61) | |
| C. | CASH FLOW FROM FINANCING ACTIVITIES | |||
| Share Capital - Equity | 2.12 | 9.11 | ||
| Securities Premium received | 1,587.94 | 6,613.17 | ||
| Securities Premium utilised | (0.25) | (41.43) | ||
| Sale proceeds of Investments in Subsidiary Companies | 1,903.27 | 1,248.87 | ||
| Borrowings and Deposits (Net) | 42,883.65 | 48,745.70 | ||
| Proceeds from Debt Securities and Subordinated Liabilities | 1,05,072.64 | 1,74,755.46 | ||
| Repayment of Debt Securities and Subordinated Liabilities | (1,10,139.61) | (1,73,104.37) | ||
| Dividend paid - Equity Shares | (3,023.49) | (3,407.28) | ||
| Tax paid on Dividend | (581.35) | (695.25) | ||
| Change in Non-Controlling Interest | 1,068.89 | 861.65 | ||
| Net cash from Financing activities | C | 38,773.81 | 54,985.63 | |
| Net Increase / (Decrease) in cash and cash equivalents | [A+B+C] | 2,015.15 | 368.61 | |
| Add : Cash and cash equivalents as at the beginning of the period | 3,183.31 | 2,814.70 | ||
| Cash and cash equivalents as at the end of the period | 5,198.46 | 3,183.31 | ||
During the year, the Group has received Dividend of ` 89.21 Crore (Previous year ` 511.14 Crore)
Net movement in Borrowings (including Debt Securities), Deposits and Subordinated Liabilities amounting to ` 37,663.73 Crore
(Previous year ` 50,338.64 Crore) includes fresh issuance, repayments and effect of changes in foreign exchange rates.
See accompanying notes to the standalone financial statements
As per our report of even date attached.
For B S R & Co. LLP
Chartered Accountants
Firms’ Regst. No: 101248W/W-100022
Deepak S. Parekh
Chairman
(DIN: 00009078)
Akeel Master
Partner
Membership No. 046768
Keki M. Mistry
Vice Chairman &
Chief Executive Officer
(DIN: 00008886)
Renu Sud Karnad
Managing Director
(DIN: 00008064)
MUMBAI, May 25, 20200
Directors
J. J. Irani
(DIN: 00311104)
Nasser Munjee
(DIN: 00010180)
U. K. Sinha
(DIN: 00010336)
Jalaj Dani
(DIN: 00019080)
Bhaskar Ghosh
(DIN: 06656458)
Ireena Vittal
(DIN: 05195656)
V. Srinivasa Rangan
Executive Director &
Chief Financial Officer
(DIN: 00030248)
Ajay Agarwal
Company Secretary
(FCS: 9023)
