CONSOLIDATED FINANCIAL STATEMENTS
FORTY FOURTH ANNUAL REPORT 2020-21
| Notes | Year ended March 31, 2021 |
Year ended March 31, 2020 |
||
| A | CASH FLOW FROM OPERATING ACTIVITIES | |||
| Profit before tax | 24,237.30 | 26,193.25 | ||
| Adjustments for: | ||||
| Share of Profit of Associates | (6,921.47) | (5,746.10) | ||
| Depreciation, Amortisation and Impairment | 355.35 | 256.11 | ||
| Impairment on Financial Instruments (Expected Credit Loss) | 3,030.76 | 5,951.12 | ||
| Expense on share based payments to employees | 355.27 | 15.96 | ||
| Profit on loss of control on a subsidiary | - | (9,799.10) | ||
| Net (gain) / loss on fair value changes | (1,971.68) | 182.12 | ||
| Profit on Sale of Investments | - | (2.45) | ||
| (Profit) / Loss on Sale of Investment Properties, Property, Plant and Equipment (Net) | 2.25 | (35.11) | ||
| Interest Expense | 28,842.04 | 31,901.06 | ||
| Interest Income | (44,461.55) | (45,253.26) | ||
| Surplus from deployment in Cash Management Schemes of Mutual Funds | (812.78) | (1,118.90) | ||
| Utilisation of Shelter Assistance Reserve | (0.03) | (3.17) | ||
| Operating Profit before Working Capital changes and adjustments for interest received and paid | 2,655.46 | 2,541.53 | ||
| Adjustments for: | ||||
| Decrease/(Increase) in Financial Assets and Non Financial Assets | 3,369.75 | (3,535.38) | ||
| (Decrease)/Increase in Financial and Non Financial Liabilities | (240.20) | 3,354.60 | ||
| Decrease/(Increase) in Assets pertaining to Insurance Business | (49,943.75) | (14,194.94) | ||
| (Decrease)/Increase in Liabilities pertaining to Insurance Business | 46,812.22 | 13,545.65 | ||
| Cash from Operations before adjustments for interest received and paid | 2,653.48 | 1,711.46 | ||
| Interest Received | 43,624.43 | 45,253.26 | ||
| Surplus from deployment in Cash Management Schemes of Mutual Funds Received | 869.26 | 1,118.90 | ||
| Interest Paid | (30,186.40) | (31,775.66) | ||
| Taxes Paid | (3,176.53) | (3,967.98) | ||
| Net cash from Operations | 13,784.24 | 12,339.98 | ||
| Investments in schemes of Mutual Fund (Net) | 6,528.05 | (10,312.48) | ||
| Loans disbursed (net) | (47,590.31) | (29,899.40) | ||
| Corporate Deposits (net) | 1.59 | 1,070.88 | ||
| Net cash used in Operating activities | A | (27,276.43) | (26,801.02) | |
| B. | CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of Property, plant and equipment | (158.68) | (356.14) | ||
| Sale of Property, plant and equipment | 5.83 | 3.82 | ||
| Net Cash used in Property, plant and equipment | (152.85) | (352.32) | ||
| Purchase of Investment Properties | (91.96) | (296.25) | ||
| Sale of Investment Properties | 57.14 | 65.43 | ||
| Net Cash flow used in Investment Properties | (34.82) | (230.82) | ||
| Investments in Subsidiary Companies | - | (1,495.81) | ||
| Investments in Associate Companies | - | (86.71) | ||
| Other Investments (Net) | (6,770.66) | (9,347.13) | ||
| Sale proceeds of Investments in Subsidiary Companies | - | 1,639.14 | ||
| Net cash used for Investing activities | B | (6,958.33) | (9,873.65) | |
| C. | CASH FLOW FROM FINANCING ACTIVITIES | |||
| Share Capital - Equity | 14.38 | 2.12 | ||
| Money received against warrants | 307.03 | - | ||
| Securities Premium (net) | 11,901.83 | 1,587.69 | ||
| Sale proceeds of Investments in Subsidiary Companies | 1,484.25 | 1,903.27 | ||
| Borrowings (Net) | 126.55 | 17,650.85 | ||
| Deposits (Net) | 18,142.87 | 25,232.80 | ||
| Proceeds from Debt Securities and Subordinated Liabilities | 1,06,429.03 | 1,05,072.64 | ||
| Repayment of Debt Securities and Subordinated Liabilities | (1,02,625.23) | (1,10,139.61) | ||
| Payment for Principal portion of lease liability | (45.36) | (83.99) | ||
| Dividend paid - Equity Shares | (3,642.68) | (3,023.49) | ||
| Tax paid on Dividend | - | (581.35) | ||
| Change in Non-Controlling Interest | (427.69) | 1,068.89 | ||
| Net cash from Financing activities | C | 31,664.98 | 38,689.82 | |
| Net Increase / (Decrease) in cash and cash equivalents | [A+B+C] | (2,569.78) | 2,015.15 | |
| Add : Cash and cash equivalents as at the beginning of the period | 5,198.46 | 3,183.31 | ||
| Cash and cash equivalents as at the end of the period | 2,628.68 | 5,198.46 |
During the year, the Group has received Dividend of ` 38.45 Crore (Previous year ` 89.21 Crore)
Net movement in Borrowings (including Debt Securities), Deposits and Subordinated Liabilities amounting to ` 21,645.73 Crore (Previous year ` 37,663.73 Crore) includes fresh issuance, repayments and effect of changes in foreign exchange rates.
See accompanying notes to the consolidated 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)
Sagar Lakhani
Partner
Membership No. 111855
Keki M. Mistry
Vice Chairman &
Chief Executive Officer
(DIN: 00008886)
Renu Sud Karnad
Managing Director
(DIN: 00008064)
MUMBAI, May 07, 2021
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)
