STANDALONE FINANCIAL STATEMENTS
FORTY FOURTH ANNUAL REPORT 2020-21
| Year ended March 31, 2021 |
Year ended March 31, 2020 |
|||
| A | CASH FLOW FROM OPERATING ACTIVITIES | |||
| Profit before tax | 14,815.09 | 20,350.92 | ||
| Adjustments for: | ||||
| Depreciation, Amortisation and Impairment | 158.78 | 147.74 | ||
| Impairment on Financial Instruments (Expected Credit Loss) | 2,948.00 | 5,913.10 | ||
| Expense on Employee Stock Option Scheme | 338.42 | 13.64 | ||
| Net gain on fair value changes | (956.48) | (9,119.04) | ||
| Interest Expense | 28,383.48 | 30,797.57 | ||
| Interest Income | (43,584.74) | (43,942.11) | ||
| Profit on Sale of Investments | (1,397.69) | (3,523.75) | ||
| (Profit)/Loss on Sale of Investment Properties and Fixed Assets (Net) | 2.14 | (35.11) | ||
| Utilisation of Shelter Assistance Reserve | (0.03) | (3.11) | ||
| Operating Profit before Working Capital changes and adjustment for interest received and paid | 706.97 | 599.85 | ||
| (Increase)/Decrease in Financial Assets and Non Financial Assets | 2,825.09 | (3,217.84) | ||
| Increase/(Decrease) in Financial and Non Financial Liabilities | (3,050.77) | 1,680.14 | ||
| Cash from/(used in) Operations before adjustments for interest received and paid | 481.29 | (937.85) | ||
| Interest Received | 43,703.69 | 43,505.61 | ||
| Interest Paid | (29,335.32) | (30,564.30) | ||
| Taxes Paid | (2,039.03) | (2,961.68) | ||
| Net Cash from Operations | 12,810.63 | 9,041.78 | ||
| Loans Disbursed (Net) | (48,813.18) | (45,344.63) | ||
| Inter Corporate Deposits (Net) | 8.26 | 1,010.50 | ||
| Redemption/(Investment) in Cash Management Schemes of Mutual Funds (Net) | 7,521.10 | (8,524.44) | ||
| Net cash used in Operating Activities | A | (28,473.19) | (43,816.79) | |
| B | CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of Property, Plant and Equipment | (63.00) | (78.06) | ||
| Sale of Property, Plant and Equipment | 0.53 | 0.89 | ||
| Net Cash used for Property, Plant and Equipment | (62.47) | (77.17) | ||
| Purchase of Investment Properties | (91.27) | (278.73) | ||
| Sale of Investment Properties | 57.14 | 65.43 | ||
| Net Cash flow from/(used) for Investment Properties | (34.13) | (213.30) | ||
| Investments | ||||
| - in Subsidiary Companies | (55.00) | (2,156.72) | ||
| - in Associates Companies | (0.50) | (86.71) | ||
| Other Investments: | ||||
| - Purchase of Investments | (9,572.69) | (5,571.92) | ||
| - Sale of Investments | 1,225.01 | 612.45 | ||
| Sale of Investments in subsidiaries | - | 1,639.14 | ||
| Net cash used in Investing Activities | B | (8,499.78) | (5,854.23) | |
| C | CASH FLOW FROM FINANCING ACTIVITIES | |||
| Share Capital - Equity | 14.38 | 2.12 | ||
| Money Received Against Warrants | 307.03 | 0.00 | ||
| Securities Premium (Net of Issue expenses) | 11,845.95 | 1,280.66 | ||
| Sale proceeds of Investments in Subsidiary Companies | 1,484.25 | 1,903.27 | ||
| Borrowings (Net) | 233.79 | 27,352.67 | ||
| Deposits (Net) | 17,837.24 | 26,725.35 | ||
| Proceeds from Debt Securities and Subordinated Liabilities | 1,05,660.00 | 1,02,820.65 | ||
| Repayment of Debt Securities and Subordinated Liabilities | (99,111.04) | (1,04,018.86) | ||
| Payments for principal portion of lease liability | (27.86) | (10.81) | ||
| Dividend paid - Equity Shares | (3,642.68) | (3,021.60) | ||
| Tax paid on Dividend | - | (581.35) | ||
| Net cash from financing activities | C | 34,601.06 | 52,452.10 | |
| Net Increase/(Decrease) in cash and cash equivalents | [A+B+C] | (2,371.91) | 2,781.08 | |
| Add : Cash and cash equivalents as at the beginning of the year | 3,141.88 | 360.80 | ||
| Cash and cash equivalents as at the end of the year | 769.97 | 3,141.88 | ||
| Components of cash and cash equivalents | ||||
| Cash on hand | 0.49 | 0.14 | ||
| In Current Accounts | 367.87 | 3,110.38 | ||
| In Deposit accounts with original maturity of 3 months or less | 200.23 | - | ||
| Cheques on hand | 201.38 | 31.36 | ||
| Total | 769.97 | 3,141.88 |
Note
1. During the year, the Corporation has received Dividend of ` 773.97 Crore (Previous year ` 1,080.68 Crore).
2. Net movement in Borrowings (including Debt Securities), Deposits and Subordinated Liabilities amounting to ` 22,263.40 Crore (Previous
year ` 52,887.24 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)
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)
