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T O W A R D S G R O W T H2018-19 ANNUAL REPORT

TABLEOF

Contents

InthisannualReport,wehavedisclosedforward-lookinginformationtoenable

investorstocomprehendourprospectsandtakeinvestmentdecisions.Thisreport

andotherstatementswrittenandoral-thatweperiodicallymakecontainforward-

lookingstatementsthatsetoutanticipatedresultsbasedonthemanagement’s

plans and assumptions. We have tried wherever possible to identify such

statementsbyusingwordsof suchas ‘anticipate’, ‘estimate’, ‘expect’, ‘projects’,

‘intends’,‘plans’,‘believes’,andwordsofsimilarsubstanceinconnectionwithany

discussion of future performance. We cannot guarantee that these forward-

lookingstatementswillberealised,althoughwebelievewehavebeenprudentin

assumptions.Theachievementsofresultsaresubjecttorisks,uncertainties,and

eveninaccurateassumptions.Shouldknownorunknownrisksoruncertainties

materialise,orshouldunderlyingassumptionsproveinaccurateactual results

couldverymaterially from thoseanticipated, estimated, orprojected.Readers

should keep this inmind, we undertake no obligation to publicly update any

forward-lookingstatementswhetherasaresultofnewinformation,futureevents

orotherwise

TOPIC

CORPORATEINFORMATION 01

DIRECTORS’PROFILE 02

DIRECTORS’REPORT 03

ANNEXURESTODIRECTORS’REPORT 12

MANAGEMENTDISCUSSION&ANALYSIS 31

AUDITOR’SREPORT 33

ANNEXURESTOAUDITOR’SREPORT 37

FINANCIALSTATEMENTS(STANDALONE) 41

PAGENO.

FORWARDLOOKINGSTATEMENT

BoardofDirectorsSUBRAMANIANJAMBUNATHANManagingDirectorandCEO

YALAMATISRINIVASACHAKRAVARTIDirector

VENKATARAMANMURALIDirector

LAKSHMINARAYANANPRIYADARSHINIDirector

KeyManagerialPersonnel

SUBRAMANIANJAMBUNATHANManagingDirector&CEO

KUNALKARNANIChiefFinancialOf�icer

NIKITAHULECompanySecretary

TheMastersBehindtheMasterpiece

Bankers

AXISBANK

BARCLAYSBANK

HDFCBANK

IDBIBANK

INDIANBANK

SYNDICATEBANK

THECATHOLICSYRIANBANK

UNIONBANKOFINDIA

UNITEDBANKOFINDIA

VIJAYABANK

WOORIBANK

Auditors

STATUTORYAUDITORSM/sPijushGupta&Co.CharteredAccountantsP-199,C.I.T.Road,SchemeIV-M,Kolkata-700010.

Mr.SubramanianJambunathanistheManagingDirectorandCEOoftheCompany.HeisaManagementGraduatefromIIM–Bangalore.Hehasatotalworkexperienceofovertwodecadesinthebankingand�inancialservicessectoracrossorganisationslikeHSBC,Citibank,ANZGrindlaysBankandIBM–India(thenTISL).HesuccessfullyledindependentbusinesseswithcompleteP&Laccountability,overthelast15years.HehasservedinSeniorManagementrolesindiversefunctionsrangingfrombusinessprocessreengineeringtoheadingabusiness.HehasbeeninstrumentalinbuildingbusinessesinAssets,CreditCards,consumer�inanceandMortgages,rebuildingandreengineeringdebtmanagementinfrastructureandhasalsoledbranchbankingteams.

Mr.SubramanianjoinedtheShriramGroupintheyear2010.HisroleasanExecutiveDirectoratShriramCityUnionFinanceLimitedentailedbuildingandgrowingthe lendingbusinessacrossall theretaillendingproducts(SME,BusinessLoans,PersonalLoans,Mortgagesandothercollateralisedloans),panIndia.

Director’s P R O F I L E

Mr. Chakravarti is aNon-Executive, Non IndependentDirector on the Board. He holds a degree ofBachelorofCommerceandisaretail�inanceprofessionalwithprovenskillsandorganizingabilities.Hehasworkedinvariousassignmentsinthe�ieldof�inancialservicesforovertwodecades.HeservestheBoardsofShriramChitsPvtLtdandShriramChits(Maharashtra)Limited.HehasbeenintheBoardsinceNovember2010.

Mr.MuraliisaNon-Executive,IndependentDirectorontheBoard.HeholdsdegreesofBachelorsofCommerce, fromVivekanandaCollege,Chennai.HeisafellowmemberoftheInstituteofCharteredAccountantsofIndiaandanassociatememberoftheInstituteofCostandWorksAccountantsofIndiaandhastohiscreditmorethanthreedecadesofexperienceintherelevant�ields.HehasbeenelectedasCentralCouncilMemberoftheInstituteofCharteredAccountantsofIndiaforfourtermsinsuccessionfortheperiodsfrom2004-2016andsecuredsixthconsecutiverecordwininICAIelectionsfromtheSouthernRegion.HehasbeenontheBoardsinceJuly2013.

Ms.PriyadarshiniisanAdditionalDirectorontheBoardofSHFL.SheholdsaPostGraduateDiplomainBusinessManagement(Marketing&Finance)andhasaB.A.Honours(Economics)degreefromDelhiUniversity.InacareerspannedovertwodecadesshehasadiverseworkexperiencewithlocalandglobalplayerssuchasHSBC,ABNAMRO,ICICIBank,RelianceIndustries-CorporateTreasury,GEIndia,IFCIandONICRA. She has awide experience in a variety of leadership roles inBusinessDevelopment,Corporate&Retailsales,CorporateBanking,KeyAccountManagementBusinessStrategy.ShehasbeenontheBoardsinceOctober2018.

MR.YALAMATISRINIVASACHAKRAVARTI

MR.VENKATARAMANMURALI

MS.LAKSHMINARAYANANPRIYADARSHINI

MR.SUBRAMANIANJAMBUNATHAN

DIRECTORS’REPORT

To,

TheMembersof

ShriramHousingFinanceLimited

TheBoardofDirectorsofyourcompanyhavegreatpleasureinpresentingtheNinthAnnualReporttogetherwith

theAuditedFinancialStatementsfortheyearendedMarch31,2019.

FINANCIALRESULTS

Thesummaryof�inancialperformanceoftheCompanyfortheYearisasunder:(`inlacs)

A. DIVIDEND

Inordertoconservereservesandgrowfurther,noDividendswereproposedforthe�inancialyear2018-19.

B. PERFORMANCEREVIEW

Totalincomefortheyearamountedto 29,127.36lacsascomparedto 28,065.64lacsin2018.Therevenuefromoperationsfortheyearwas 29,088.62lacs.Thepro�itbeforetaxfortheyearwas 2,507.27lacs.

Theloandisbursementduringtheyearwas 75,881.95lacs.`

ThetotalassetsundermanagementfortheFY2019was 1,84,766.19lacs.TheCompanyhastransferredan`amountof 337.99Lacstostatutoryreserveaspertherequirementofthesection29CofNationalHousingBankAct,1987.

C. SHARECAPITAL

ThepaidupequitysharecapitaloftheCompanyasonMarch31,2019was 214.16crores.Duringtheyearunder`review,theCompanyhasnotissuedanyshares.

D. NONCONVERTIBLEDEBENTURES(NCDs)

AsperthespecialresolutionpassedattheannualgeneralmeetingoftheshareholdersoftheCompanyheldonJuly12,2018,theBoardisauthorizedtoissuenon-convertibledebenturesnotexceedinganamountof 2,000`crores(Rupeestwothousandcroresonly).TheBoardhasapprovedResourceMobilisationPolicyforprivateplacementofNon-ConvertibleDebentures(NCDs)formulatedaspertheguidelinesissuedbyNationalHousingBank.

Particulars 2018-192017-18

Pro�itbeforedepreciationandtaxation 2,739.77 5,994.66

Less:Depreciation 232.50 193.10

Pro�itbeforetax 2,507.27 5,801.56

Less:Provisionfortaxation 842.14 1,965.21

Pro�itaftertax 1,665.13 3,836.35

Add:Pro�itbroughtforwardfrompreviousyear 8,584.09 5,325.74

Add:Employeecompensationcostforlapsedoptions 9.52 0

Pro�itavailableforappropriation 10,258.74 9,162.09

Less:Appropriations 337.99 578.00

Pro�itsavailableafterappropriations 9,920.75 8584.09

Earningspershare

Basic 0.78 1.79`

Diluted 0.77 1.79`

03Shriram Housing Finance Limited | Annual Report 2018-19

TheNCDsissuedbytheCompanyarelistedontheWholesaleDebtSegmentofBSELtd.NCDsamountingto 80`croresmaturedduringthe�inancialyear.AsatMarch31,2019,NCDsamountingto 559croreareoutstanding.`TheNCDshavebeenassignedratingof“CAREAA+”byCreditAnalysis&ResearchLtd(CARE).

TheCompanyhasbeenregularinmakingpaymentofprincipalandinterestontheNCDsandthesamehasbeenreportedtoBSEandtheTrustees.AsatMarch31,2019,therewerenoNCDswhichhavenotbeenclaimedbytheInvestorsornotpaidbytheCompanyafterthedateonwhichthesaidNCDsbecamedueforredemption.HencetheamountofNCDsremainingunclaimedorunpaidbeyondduedateisNil.

As a security for the Non-Convertible Debenture holders your Company has duly executed and registeredDebentureTrusteeAgreements,DeedofHypothecationandDebentureTrustDeedswithCatalystTrusteeshipLimitedinvarioustranchesandaredulymodi�iedasandwhentheNCDsareredeemed.

Your Company being Housing Finance Company is exempted from the requirement of creating DebentureRedemptionReserve(DRR)incaseofprivatelyplaceddebentures.SincetheDebentureissuesoftheCompanytilldatearethroughprivateplacement,noDRRhasbeencreated.

COMMERCIALPAPER

TheCommercialPaper(CP)programmeoftheCompanyhavebeenassignedtheratingofA1+byCARERatings.AsatMarch31,2019,CommercialPaperoutstandingamountstoodat 50crore.

LOANSFROMBANKS

Aspartofitsassetliabilitymanagement,yourCompanystrivestodiversifythesourcesofitsfundbaseastoachievesuitablematurityscheduleandoptimisetheaveragecostofborrowedfunds.

AsatMarch31,2019,theCompany’soutstandingbankloanstoodat`90,575.06lacsvis-a-vis`54,055.72lacsasatMarch31,2018.

RESOURCEMOBILISATION

YourCompany'sresourceplanningpolicyhasbeenapprovedbytheBoardofDirectors.TheCompanyvideaspecialresolutionpassedbytheshareholdersatitsannualgeneralmeetingheldonJuly12,2018,undersections42,71,180(1) (c)of theCompaniesAct,2013andotherapplicableprovisions, authorized theBoardanda committeeauthorizedbytheBoardtoraiseorborrowanyforthepurposeofthebusinessofCompanyanysumorsumsofmoneysforandonbehalfoftheCompanyinIndianRupeesand/orinanyforeigncurrencybywayofavailingoflong/shorttermloansandallkindsof�inancialassistancebyallpermissiblemethods,secured/unsecuredfrombankingcompanies,�inancialinstitutions,bodiescorporateoranyperson(s),bywayofissueofcommercialpapers,rupeedenominatedbonds/seniornotestoeligibleperson(s),lenders,investor(s),bywayofissueofredeemablenon-convertible debentures, subordinated debentures, bonds or any other security or instrument(s) on privateplacementbasisaswellasbywayofpublicissuebyissueofshelf-disclosuredocuments,prospectus,shelfprospectus,informationmemorandum,offeringcircularorotherwise,frompersons,institutionalinvestors,ForeignInstitutionalInvestors, quali�ied institutional buyers, resident public �inancial institutions,multilateral �inancial institutions,regional �inancial institutions, statutory corporations, provident funds, pension funds, superannuation funds,gratuity funds, alternative investments funds, insurance companies, mutual funds, national investment fund,insurancefunds,non-institutionalinvestors,companies,bodiescorporate,societies,educationalinstitutionsandassociation of persons, trusts, scienti�ic and /or industrial research organizations, partnership �irms, LimitedLiabilityPartnerships,ResidentIndividuals,HighNet-worthIndividuals(HNIs),HinduUndividedFamilies(HUFs),retailindividualinvestors,andbywayofissuanceofanyotherpermissibleinstrumentsormethodsofborrowing,whetherunsecuredorsecuredbymortgage,charge,hypothecation,lien,pledgeorotherwiseoftheCompany'sassetsandproperties,whethermovableorimmovable,whichtogetherwiththemoneyalreadyborrowedbytheCompany(apartfromtemporaryloans,overdraftsobtainedortobeobtainedfromtheCompany'sBankersintheordinarycourseofbusiness),mayatanytime,exceedtheaggregateofthepaidupsharecapitaloftheCompanyanditsfreereserves(thatistosayreservesnotsetapartforanyspeci�icpurpose)providedthatthetotalamountsoborrowed,shallbeuptoanamountof 5,000Crores(Rupees�ivethousandcroresonly).`

STATUTORY&REGULATORYCOMPLIANCE

TheCompanyhascompliedwiththeapplicablestatutoryprovisions,includingthoseoftheCompaniesAct,2013andtheIncome-taxAct,1961.Further,theCompanyhascompliedwiththeNHB'sHousingFinanceCompaniesDirections,2010, asprescribedbyNationalHousingBank (“NHB”)andhasbeen in compliancewith thevarious circulars,noti�icationsandguidelinesissuedbyNHBfromtimetotime.TheCompanyisalsoincompliancewithHousingFinanceCompaniesissuanceofNon-ConvertibleDebenturesonprivateplacementbasis(NHB)Directions,2014.

04 Shriram Housing Finance Limited | Annual Report 2018-19

The Company has complied with various provisions, regulations and guidelines prescribed by SEBI (ListingObligationsandDisclosureRequirements)Regulations,2015asamendedfromtimetotimei.e.ChapterV–ObligationsoflistedentitywhichhaslisteditsNon-ConvertibleDebtSecuritiesorNon-RedeemablePreferenceSharesorboth.TheCompanyhasalsoregisteredwithSEBI-SCORESformonitoringandreporting/resolvingofinvestor'scomplaints.

TheCompanyhas�inalizedits�inancialstatementsfortheyearunderreviewaspertheAccountingstandardsissuedbyInstituteofCharteredAccountantsofIndia.

DEBENTURETRUSTEES

Thedetailsofdebenturetrusteesareasbelow:CatalystTrusteeshipLimited(ErstwhileGDATrusteeshipLimited)CIN:U74999PN1997PLC110262Address:GDAHouse,PlotNo.85,BhusariColony(Right),PaudRoad,Pune-411038ContactNo.:+91(020)25280081FaxNo.:+91(020)25280275

Website:www.catalysttrustee.com

Emailid:[email protected]

PARTICULARSOFCONTRACTSORARRANGEMENTSWITHRELATEDPARTIES

AllRelatedPartyTransactions(RPT)thatwereenteredduringthe�inancialyearwereintheordinarycourseofbusiness of the Company and were on arm's length basis. There were no materially signi�icant related partytransactionsenteredinbytheCompanywithPromoters,Directors,keymanagerialpersonnelorotherpersonswhichmayhaveapotentialcon�lictwiththeinterestoftheCompany.ConsideringthenatureoftheindustryinwhichtheCompanyoperates,transactionswithrelatedpartiesoftheCompanyareintheordinarycourseofbusinesswhichare also on arm's length basis. All such Related Party Transactions are placed before the Audit and RiskManagement Committee for approval/rati�ication, wherever applicable. The particulars of the contracts orarrangementswithrelatedpartiesasreferredinsection188(1)oftheActisattachedtothisReportinprescribedformAOC-2asAnnexure1.YourDirectorsdrawattentionofthemembersofNote41tothe�inancialstatementwhichsetsoutrelatedpartydisclosures.

PARTICULARSOFLOANS,GUARANTEESORINVESTMENTSMADEUNDERSECTION186OFTHECOMPANIESACT,2013

HousingFinanceCompaniesareexempt fromtheprovisionsof thesection186(exceptsub-Section(1))of theCompaniesAct,2013.Hencethesaidprovisionisnotapplicabletothecompany.

HOLDINGCOMPANY

ShriramCityUnionFinanceLimited(CIN:L65191TN1986PLC012840)istheholdingCompany.

BOARDOFDIRECTORS

TheCompanyhasfourDirectorsconsistingoftwoNon-ExecutiveIndependentDirectors,oneNon-ExecutiveNon-IndependentDirectorandoneManagingDirector&CEOasExecutiveDirectorasonthedateofadoptionofthisreport.

Duringtheyear,Mr.KhushruJijina,Dr.QudisaGandhiandMs.SubhasriSriram,non-executivedirectorsceasedtobethedirectorsoftheCompany.

PursuanttoSection152(6)oftheCompaniesAct,2013,Mr.Y.S.Chakravarti(DIN:00052308),Director,retiresbyrotationattheensuingAnnualGeneralMeeting,whoiseligibleforre-appointmentandhasofferedhimselfforre-appointment.

KEYMANAGERIALPERSONNEL

Mr. Subramanian Jambunathan,ManagingDirector&ChiefExecutiveOf�icer,Mr.KunalKarnani, Chief FinancialOf�icerandMs.NikitaHule,CompanySecretaryoftheCompanyaretheKeyManagerialPersonneloftheCompanyaspertheprovisionsoftheCompaniesAct,2013asonthedateofadoptionofthisreport.TheirappointmentasKeyManagerialPersonnelhasbeendulyformalizedpursuanttosection203oftheCompaniesAct,2013.

Mr.SubramanianJambunathanwasappointedastheManagingDiretcor&CEOofthecompanyw.e.f.November20,2018.

Mr.KunalKarnaniwasappointedastheChiefFinancialOf�icerofthecompanyw.e.f.January21,2019.

Duringtheyear,Mr.SujanSinhaceasedtobetheManagingDirector&CEOw.e.f.August31,2018andMr.KankshitMunshiceasedtobetheChiefFinancialOf�icerw.e.f.November19,2018.


Note: Mr.SubrmanianJambunathanwasappointedasanadditionaldirectorw.e.f.July20,2018andthenastheManagingDirector&CEO• w.e.f.November20,2018. Ms.LakshminaryananPriyadarshiniwasappointedasanadditionaldirectorw.e.f.October16,2018.• Mr.KhushruJijinaceasedtobeadirectorw.e.f.May7,2018.• Dr.Gandhiceasedtobeadirectorw.e.f.May23,2018.• Mr.SujanSinhaceasedtobetheManagingDirector&CEOw.e.f.August31,2018.• Ms.SubhasriSriramceasedtobeadirectorw.e.f.September3,2018.•

DECLARATIONBYINDEPENDENTDIRECTORS

TheBoardhasreceiveddeclarationsfromalltheIndependentDirectorsaspertheSection149(7)oftheCompaniesAct, 2013 and the Board is satis�ied that all the Independent Directorsmeet the criterion of independence asmentionedinSection149(6)oftheCompaniesAct,2013.

ItisproposedtoappointMr.VenkataramanMuraliasanindependentdirectorontheBoardoftheCompanyforasecondtermsubjecttotheapprovaloftheshareholdersoftheCompanyatitsensuingAnnualGeneralmeeting.

Ms.LakshminarayananPriyadarshiniwasappointedasanadditionaldirectorontheBoardoftheCompanyuptothedateoftheensuingAnnualGeneralmeeting.ItisproposedtoappointMs.PriyadarshiniasanindependentdirectorsubjecttotheapprovaloftheshareholdersoftheCompanyatitsensuingAnnualGeneralmeeting.

BriefresumeoftheDirectors,proposedtobeappointed,natureoftheirexpertiseinspeci�icfunctionalareasandnamesofothercompaniesinwhichtheyholdDirectorshipalongwiththeMembership/ChairmanshipofCommitteesoftheBoardasstipulatedunderSecretarialStandard(SS-2)onGeneralMeetingsareprovidedintheannexuretothe

thNoticeoftheNinth(9 )AGM,beingsenttotheMembersalongwiththeAnnualReport.

AlltheindependentDirectorshavecompliedwiththecodeofconductasprescribedinscheduleIVoftheCompaniesAct,2013.

COMPANY'SPOLICYONAPPOINTMENTANDREMUNERATIONOFDIRECTORS,KEYMANAGERIALPERSONNELANDOTHEREMPLOYEES:

TheNominationandRemunerationCommitteehasputinaplaceapolicyonBoarddiversityforappointmentofDirectorstakingintoconsiderationquali�icationandwideexperienceoftheDirectorsinthe�ieldsofbanking,�inance,regulatory,administration,legal,commercialsegmentapartfromcomplianceoflegalrequirementsoftheCompany.TheCompanyhas laid down remuneration criteria for the Directors in the Nomination Remuneration Policy. The NominationRemunerationPolicyapprovedbytheBoardisavailableontheCompany'swebsitewww.shriramhousing.in

NUMBEROFBOARDMEETINGSANDATTENDANCEOFDIRECTORS

Duringthe�inancialyear2018-19,theBoardofDirectorsmet5(Five)timeswhichwasattendedbythefollowingdirectors:

Sr. Nameofthe 20.04.2018 20.07.2018 22.10.2018 20.11.2018 21.01.2019 AGMNo. Director Attendance 12.07.2018

1. Mr.Subramanian NA Yes Yes Yes Yes NA Jambunathan, ManagingDirector &CEO

2. Mr.Y.S.Chakravarti, Yes Yes Yes Yes Yes Yes Director

3. Mr.Venkataraman Yes Yes Yes Yes Yes Yes Murali,Independent Director

4. Ms.Lakshminarayanan NA NA Yes Yes Yes NA Priyadarshini, AdditionalDirector

5. Mr.KhushruJijina, No NA NA NA NA NA Director

6. Mr.SujanSinha, Yes Yes NA NA NA Yes ManagingDirector &CEO

7. Ms.SubhasriSriram, Yes No NA NA NA No Director

8. Dr.QudsiaGandhi, Yes NA NA NA NA NA IndependentDirector


BOARDEVALUATION

TheBoardofDirectorshascarriedoutanannualevaluationofitsownperformance,BoardcommitteesandindividualDirectorspursuanttotheprovisionsoftheCompaniesAct,2013andRules.

TheperformanceoftheBoardwasevaluatedafterseekinginputsfromalltheDirectorsonthebasisofthecriteriasuchastheBoardcompositionandstructure,effectivenessofboardprocesses,informationandfunctioning,etc.TheperformanceofthecommitteeswasevaluatedbytheBoardafterseekinginputsfromthecommitteemembersonthebasisofthecriteriasuchasthecompositionofcommittees,effectivenessofcommitteemeetings,etc.

InaseparatemeetingofIndependentDirectors,performanceofnon-independentDirectorsandtheperformanceoftheBoardasawholewasevaluated.

COMMITTEESOFTHEBOARD

TheCompanyhasvariousCommitteeswhichhavebeenestablishedasapartof thebest corporategovernancepracticesandareincompliancewiththerequirementsoftherelevantprovisionsofapplicablelawsandstatutes.

•AuditandRiskManagementCommittee

•NominationandRemunerationCommittee

•AssetLiabilityManagementCommittee

•BankingandFinanceCommittee

•CorporateSocialResponsibilityCommittee

•WhistleBlowerandVigilMechanismCommittee

•InternalComplaintsCommittee

AUDITANDRISKMANAGEMENTCOMMITTEE

TheAuditandRiskManagementCommitteecomprisesofMr.VenkataramanMurali–Chairman,Mr.SubramanianJambunathanandMs.LakshminarayananPriyadarshiniasmembers.All therecommendationsmadeby theAuditandRiskManagementCommitteewereacceptedbytheBoard.

Briefdescriptionoftermsofreference:

» Recommend appointment, re-appointment, terms of appointment/reappointment and remuneration ofAuditorsandreviewandmonitorauditor'sindependenceandperformanceandeffectivenessofauditprocess.

» ExaminetheFinancialStatements,�inancialreportingprocess,properdisclosureinthe�inancialstatementsandtheauditor'sreportandevaluationofinternal�inancialcontrolsandriskmanagementsystems,internalauditfunction,internalauditreportfollowupon�indings,theperformanceoftheinternalauditorandtoapproveappointmentofChiefFinancialOf�icer(CFO)oftheCompany.

» Monitortheenduseoffundsraisedandrelatedmatters.

» ReviewAssetLiabilityManagement,capitaladequacy,resourcesraised,creditratingsandmanagementofNonPerformingAssets.

NOMINATIONANDREMUNERATIONCOMMITTEE

TheNominationandRemunerationCommitteecomprisesofMr.VenkataramanMurali–Chairman,Ms.LakshminarayananPriyadarshiniandMr.Y.S.Chakravartiasmembers.

Briefdescriptionoftermsofreference

» IdentifypersonswhoqualifytobecomeDirectorsandrecommendtheirappointmenttotheBoard,asandwhenvacanciesariseandtoidentifypersonswhomaybeappointedasmembersofseniormanagement.

» Carry out evaluation of performance of every Director on an annual basis and formulate policies forquali�ication,attributesandindependenceofDirectors.

» RecommendtotheBoardpolicyrelatingtoremunerationforDirectors

» Formulate, recommend to the Board and administer Employees Stock Option Plans (ESOP) and otherincentiveplansforEmployeesandDirectorsandinterpretandadoptrulesfortheoperationthereof.

ASSETLIABILITYMANAGEMENTCOMMITTEE

TheAssetLiabilityManagementCommitteecomprisesofMr.SubramanianJambunathan–ChairmanandMr.KunalKarnaniasmembers.



» Funding and Capital, pro�it Planning and growth projections, Balance Sheet planning from risk-returnperspectiveandstrategicmanagementofinterestandliquidityrisk.

» AdoptionofAsset-Liabilitymanagementpractices.

» Providingacomprehensiveanddynamicframeworkformeasuring,monitoringandmanagingliquidityandinterestraterisksofmajoroperatorsinthe�inancialsystem.

CORPORATESOCIALRESPONSIBILITYCOMMITTEE

TheCorporateSocialResponsibilityCommitteecomprisesofMs.LakshminaryananPriyadarshini–Chairperson,Mr.SubramanianJambunathanandMr.Y.S.Chakravartiasmembers.


» ToformulateandrecommendtotheBoard,aCorporateSocialResponsibilityPolicywhichshallindicatetheactivitiestobeundertakenbytheCompanyasspeci�iedinScheduleVII;

» Torecommendtheamountofexpendituretobeincurredontheactivitiesreferredtointheaboveclause.

» TomonitortheCorporateSocialResponsibilityPolicyoftheCompanyfromtimetotime.

WHISTLEBLOWERPOLICY/VIGILMECHANISMCOMMITTEE

TheWhistleBlowerandVigilMechanismCommitteecomprisesofMr.VenkataramanMurali-Chairman,Mr.SubramanianJamburathan,Mr.KunalKarnaniandMr.PareshAthalye.

The Company believes in conducting its affairs in a fair and transparentmanner by adopting the higheststandardsofprofessionalism,honesty,integrityandethicalbehavior.TheCompanyhasadoptedaCodeofConduct for Directors and Senior Management Personnel (“Code”), which lays down the principles andstandardsthatshouldgoverntheactionsoftheDirectorsandSeniorManagementPersonnel.TheCompanyhasformulatedpersonnelpoliciesthatgoverntheactionsofit'semployees.Anyactualorpotentialviolationofthepolicy,Codehowsoeverinsigni�icantitmaybe,wouldbeamatterofseriousconcernfortheCompany.Employees have a role and responsibility in pointing out such violations. TheWhistle Blower and VigilMechanismPolicyisformulatedaspartoftheVigilMechanismestablishedbytheCompanyforDirectorsandEmployees to report genuine concerns, to provide a secure environment and to encourage employees toreportunethical,unlawfulorimproperpractices,actsoractivitiesintheCompanyandtoprohibitmanagerialpersonnelfromtakinganyadversepersonnelactionagainstthoseemployeeswhoreportsuchpracticesingoodfaith.TheWhistleBlowerandVigilMechanismPolicyaimstoprovideachanneltotheDirectorsandemployees to reportgenuine concernsandgrievancesaboutvictimization,unethicalbehaviour, actualorsuspectedfraud,violationoftheCodesofConductorpolicy.ThisPolicyprovidesforadequatesafeguardsagainstvictimizationofDirectorsandemployeesandalsoprovidesdirectaccesstotheChairmanoftheAudit&RiskManagementCommitteeoftheCompany.TheWhistleBlowerPolicy/VigilMechanismisuploadedontheCompany'swebsite:www.shriramhousing.in

INTERNALCOMPLAINTSCOMMITTEE

TheCompanyhasinplaceanInternalComplaintsCommitteeformedinaccordancewiththepolicyon 'TheSexualHarassmentofWomenatWorkplace(Prevention,ProhibitionandRedressal)ActandRules,2013'.TheInternalcomplaintscommitteecomprisesofMs.LakshminaryananPriyadarshini–Chairperson,Mr.NagendraSingh,Mr.B.SrinivasaRaoandMs.MinalTrivedi.


» Anymemberwhofeelsbeingsexuallyharasseddirectlyorindirectlymaysubmitacomplaintoftheallegedincidenttoanymemberofthecommitteewithin10daysofoccurrenceofsuchincident.

» Tocollectanycorroborativematerialwithadocumentaryproofetc.tosubstantiatethecomplaint.

» Totakecorrectiveactionagainsttheoffender,iffoundguilty.

Themembersarerequestedtonotethattherenocomplaintsreceivedduringtheperiodunderreview.

DETAILSOFFRAUDREPORTING,ASPERPROVISIONSOFSECTION134(3)(CA),READWITHSECTION143(12)OFTHECOMPANIESACT,2013:

Therewerenonew fraudsdetectedduring theperiodunder review.However, regular reportingofupdatesonpreviousfraudsdetectedweremadebytheCompanytoNHBandtotheAudit&RiskManagementCommitteeand


BoardofDirectors,duringtheyearunderreview.

FAIRPRACTICECODE,KYCNORMSANDANTIMONEYLAUNDERINGSTANDARDS

TheCompanycontinuedtoensurethatFairPracticeCode,KYCNormsandAntiMoneyLaundering(AML)Standardsasper theguidelines issuedby theNHB fromtime to timeare invariablyadhered toanddulycompliedby theCompany.TheCompanyhasputinaboardapprovedKYC/AMLpolicyforcompliancebythebranches.TheCompanyhasalsoregisteredwiththeFinancialIntelligenceUnit(FIU)India,NewDelhiandwillalsomakeperiodicalreportingfromtimetotimeaspertheapplicableprovisionsofAMLpolicy.TheInternalAuditorsconductedanauditofthebranchestoensureadherenceoftheseAMLstandardsduringtheyearunderreport.

EMPLOYEES'STOCKOPTIONSCHEME

NominationandRemunerationCommitteeoftheBoardofDirectorsoftheCompany,interaliaadministersandmonitorstheEmployees'StockOptionSchemesoftheCompanyinaccordancewiththeprovisionsunderSection62(1)(b)oftheCompaniesAct,2013readwithRule12oftheCompanies(ShareCapitalandDebentures)Rules,2014.

TheapplicabledisclosuresasstipulatedundertheRule12oftheCompanies(ShareCapitalandDebentures)Rules,2014asatMarch31,2019areprovidedinAnnexure-IItothisReport.TheSchemeshavebeenimplementedinaccordancewiththeprovisionsoftheCompaniesActandotherapplicablerulesandguidelinesandtheresolutionpassedbytheshareholders.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGODURINGTHEYEAR

A. CONSERVATIONOFENERGY

TheCompany's'operationscallfornominalenergyconsumptioncostandtherewerenomajorareaswhereconservationmeasurescouldbeappliedon.However,theCompanyismakingcontinuouseffortstoconserveenergyandoptimizeenergyconsumptionpracticablebyeconomizingtheuseofpower.

B. TECHNOLOGYABSORPTION

TheCompanyhasalwaysbeenusingthelatesttechnologyavailableintheindustry.Accordingly,effortsaremade

tomaintainanddevelopthequalityoftheproducttomeettheexpectationsofthemarket.

C. FOREIGNEXCHANGEEARNINGSANDOUTFLOW

INTERNALCONTROLSYSTEMS

YourCompanyhasanadequatesystemofinternalcontrolprocedureswhicharecommensuratewiththesizeandnatureofbusiness.Detailedproceduralmanualsareinplacetoensurethatalltheassetsaresafeguarded,protectedagainstlossandalltransactionsareauthorized,recordedandreportedcorrectly.TheinternalcontrolsystemsoftheCompanyaremonitoredandevaluatedbyinternalauditorsandtheirauditreportsareperiodicallyreviewedbytheAuditandRiskManagementCommitteeoftheBoardofDirectors.TheobservationsandcommentsoftheAuditandRiskManagementCommitteeareplacedbeforetheBoard.

FurthertheCompanyhaspoliciesandproceduresinplaceforInternalFinancialControlensuringtheorderlyandef�icient conduct of its business, including adherence to company's policies, the safeguarding of its assets, thepreventionanddetectionoffraudsanderrors,theaccuracyandcompletenessoftheaccountingrecords,andthetimelypreparationofreliable�inancialinformation.

RISKMANAGEMENTFRAMEWORK

Your Company is in the business of lending to individuals and non-individual clients whether on secured orunsecured basis. The Company faces various risks in its scale of operations. The company has in place a RiskManagementframeworksothatrisksthatthecompanyfacesareidenti�iedandcontrolledinamannerthattheCompany can continue its operations in a pro�itable and sustainablemanner. The Company places signi�icantemphasisontheadequacyofmanagementofriskandtheriskmanagementframeworkissettooutlinetheapproachtowardsriskandtheprocessofoversightandmanagementoftherisks.SoundriskmanagementsystemswouldenabletheCompanytotakerisksknowingly,reduceriskswhereappropriateandstrivetoprepareforafuture,which

ForeignExchangeearnings

ForeignExchangeoutgoNIL


by its nature cannot be predictedwith absolute certainty. RiskManagement is a discipline at the core of ouroperationsandencompassesallactivitiesthataffectitsriskpro�ile.TheRiskmanagementframeworkseekstolaydownthebroadcontoursunderwhichriskswouldbemanagedandcontrolled.YourCompany follows thebestpracticeformanagementofcreditrisk,marketriskandoperationalriskandhasputinplaceacomprehensiveRiskManagementPolicyenvisagingarobustriskmanagementprogramme.

PUBLICDEPOSITS:

YourCompanyhasnotaccepteddepositsfrompublicsinceitsinception.

CORPORATESOCIALRESPONSIBILITY(CSR):

In compliance with Section 135 of the Companies Act, 2013 read with the Companies (Corporate SocialResponsibilityPolicy)Rules,2014,theCompanyhasestablishedCorporateSocialResponsibilityCommitteeandstatutory disclosureswith respect to the CSRCommittee and an annual report on CSR activities is annexed asAnnexure-IIItothisreport.

ThepresentconstitutionoftheCommitteeisasfollows:

TheCSRpolicyapprovedbytheBoardisavailableontheCompany'swebsitewww.shriramhousing.in

DIRECTORS'RESPONSIBILITYSTATEMENT

Tothebestoftheirknowledgeandbeliefandaccordingtotheinformationandexplanationsobtainedbythem,yourDirectorsmakethefollowingstatementsintermsofSection134(3)(c)oftheCompaniesAct,2013:

• ThatinthepreparationoftheAnnual�inancialstatementsfortheyearendedMarch31,2019,theapplicableaccountingstandardshavebeenfollowedalongwithproperexplanationrelatingtomaterialdepartures,ifany.

• TheDirectorshavetakenproperandsuf�icientcare for themaintenanceofadequateaccountingrecords inaccordancewiththeprovisionsoftheCompaniesAct,2013forsafeguardingtheassetsoftheCompanyandforpreventinganddetectingfraudandotherirregularities.

• TheAnnualaccountshavebeenpreparedonagoingconcernbasis.

• Thatproperinternal�inancialcontrolswereinplaceandthatthe�inancialcontrolswereadequateandwereoperatingeffectively.

• Thatsystemstoensurecompliancewiththeprovisionsofallapplicablelawswereinplaceandwereadequateandoperatingeffectively.IntheopinionoftheBoard,therearenorisks,whichmaythreatentheexistenceoftheCompany.

MATERIALCHANGESANDCOMMITMENTIFANYAFFECTINGTHEFINANCIALPOSITIONOFTHECOMPANYOCCURREDBETWEENTHEENDOFTHEFINANCIALYEARTOWHICHTHISFINANCIALSTATEMENTSRELATEANDTHEDATEOFTHEREPORT

Nomaterialchangesandcommitmentsaffectingthe�inancialpositionoftheCompanyoccurredbetweentheendofthe�inancialyeartowhichthis�inancialstatementsrelateonthedateofthisreport.

HUMANRESOURCEDEVELOPMENT

Peopleareourgreatestprideandresource.TheCompanyisfocusedonhiringthe�inesttalentandinprovidingthemwith opportunities thatmatch their ability, aspirations and drive.We believe that the ultimate success of ourorganization resides in the exceptional quality of our people and their extraordinary efforts. In our pursuit ofexcellence,weremaincommittedtohiring,developing,motivatingandretainingouremployees.Wearecommittedtohelpouremployeesperformandrealize their fullestpotential throughcontinuousrecognition,encouragement,nurturanceandskilldevelopment.

TheCompanystandscommittedtothecurrentandfuturedevelopmentofstaffskills,expertiseandabilityinsupportoftheCompany'sstrategy,businessobjectives,operationalplansandalsothecareeraspirationsofouremployees.Inadditiontoprovidingmandatorytrainingtoourstaff,andconductingotherproductsandskillbasedprograms,theCompanyisnowleveragingontechnologytodevelopnewerprogramsinane-Iearningformat,toensureawiderreachtoouremployees,basedinbranchesspreadacrossthecountry.

Sr.No. NameofDirector Category DesignationintheCommittee

1. Ms.LakshminarayananPriyadarshini IndependentDirector Chairperson

2. Mr.SubramanianJambunathan ManagingDirector Member

3. Mr.Y.S.Chakravarti Director Member


It is our endeavor to provide our employees an environment that encourages continuous learning and regularperformance feedback, the Performance Management System contribute signi�icantly in the identi�ication andnurturingofthehighperformersintheorganization.RecognitionplaysacriticalroleinourCompanyandourRewardsandRecognitionprogramsempowerourmanagerstorecognizeandappreciatecontributionsoftheirteamsandtheteammembersinatimelymanner.Weequallyunderstandtheimportanceofhavinganintegratedemployeeinformationsystems,henceourHRMSapplicationenablesustomanageandtrackdataandpeopleprocessesacrosstheorganization.

Ouraspirationistobecomean'EmployerofChoice'andasanorganizationweremaincommittedtoentrenchthebestinclasspracticespertinenttoouremployees.Simplicity,discipline,compassionandethicsremainthekeyvaluesthatwecherishandholddeartoourhearts.Wetogetherwillcontinuetoensurethatwebuildanenduring'businessinstitution'inwhichouremployeesexperience'membershipbeyondemployment'.

SIGNIFICANTANDMATERIALORDERSPASSEDBYREGULATORSORCOURT

TherearenomaterialorderpassedbyRegulators/Courts,whichwould impact thegoingconcernstatusof theCompanyanditsfutureoperations.

AUDITORS

A) StatutoryAuditors:

M/s.PijushGupta&Co,CharteredAccountants,Kolkata,(FRN309015E),StatutoryAuditorsoftheCompanythwereappointedatthe8 AnnualGeneralmeetingoftheCompanyheldonJuly12,2018foraperiodofthreeyears.

Aspersection134(3)(f)oftheCompaniesAct,2013,theBoardstatethatduringtheyearunderreview,therearenoadversecommentsordisquali�icationsmadebytheStatutoryAuditorsofthecompany,duringthecourseoftheiraudit.

B) SecretarialAuditors:

The Board had appointedM/s. P. Sriram, Practicing Company Secretary (Certi�icate of Practice No. 3310)(MembershipNo.FCS4862)tocarryoutSecretarialAuditundertheprovisionsofSection204oftheCompaniesAct,2013forthe�inancialyear2018-19.ThePracticingCompanySecretaryalsocarriedoutanauditintermsoftheSEBIcircularCIR/CFD/CMD1/27/2019datedFebruary8,2019readwithregulation24AofSEBI(ListingObligations and Disclosure Requirements) Regulations, 2015 and has furnished an Annual SecretarialCompliancereportforthe�inancialyear2018-19.

ThereisnoadverseremarkorobservationmadebythePracticingCompanySecretaryintheauditreport.

TheSecretarialAuditReportandtheannualsecretarialcompliancereportfortheperiodunderreviewisannexedtothisreportasAnnexure-V.

TheCompanyhasadheredtotheapplicableSecretarialstandardasprescribed.

EXTRACTOFANNUALRETURN

TheextractoftheAnnualReturnintheFormMGT9isannexedtothisreportasAnnexure-VI.

COMPLIANCECERTIFICATEONFINANCIALREPORTING

TheCEOandManagingDirector (“MD”) andChief FinancialOf�icer (“CFO”) of theCompanyhave given annualcerti�icationon�inancialreportingandinternalcontroltotheBoard.

Thesaidcerti�icateissuedfortheyearisattachedtothisreportasAnnexure-VII.

ACKNOWLEDGMENT

TheBoardexpressesgratitude for theguidanceandcooperationextendedbyNationalHousingBank, statutoryauthoritiesandregulators.TheBoardappreciatestheexcellentco-operationandassistancereceivedfromBanksandFinancial Institutions.TheBoard is thankful to theauditorsof theCompany.TheBoard ispleased torecord itsappreciationfortheenthusiasm,commitment,dedicatedeffortsoftheemployeesoftheCompanyatalllevels.TheBoardisalsodeeplygratefulforthecontinuedcon�idenceandfaithreposedintheCompanybytheshareholders,depositors,debentureholdersanddebtholders.

ForandonbehalfoftheBoardofDirectors

Place:Mumbai SubramanianJambunathan Y.S.ChakravartiDate:April22,2019 ManagingDirector&CEO Director (DIN:00969478) (DIN:00052308)


FORMNO.AOC-2

(Pursuanttoclause(h)ofsub-section(3)ofsection134oftheActandRule8(2)oftheCompanies(Accounts)Rules,2014)

Formfordisclosureofparticularsofcontracts/arrangementsenteredintobythecompanywithrelatedpartiesreferredtoinsub-section(1)ofsection188oftheCompaniesAct,2013includingcertainarmslengthtransactionsunderthirdprovisothereto

1. Detailsofcontractsorarrangementsortransactionsnotarm'slengthbasis:-NIL

(a) Name(s)oftherelatedpartyandnatureofrelationship:NA

(b) Natureofcontracts/arrangements/transactions:NA

(c) Durationofthecontracts/arrangements/transactions:NA

(d) Salienttermsofthecontractsorarrangementsortransactionsincludingthevalue,ifany:NA

(e) Justi�icationforenteringintosuchcontractsorarrangementsortransactions:NA

(f) Date(s)ofapprovalbytheBoard:NA

(g) Amountpaidasadvances,ifany:NA

(h) Dateonwhichthespecialresolutionwaspassedingeneralmeetingasrequiredunder�irstprovisotosection188:NA

2. Detailsofmaterialcontractsorarrangementsortransactionsatarm'slengthbasis

(a) Date(s)ofapprovalbytheBoard–January21,2019

ANNEXURE-I

Sr. Natureof Nameof Natureof Durationof Salientterms `inNo. contracts/ Related Relationship Contracts ofcontacts/ Lacs arrangements/ Party transactions transactions

1. RentalExpenses ShriramCityUnion Holding Various Rentalexpenses 84.53 FinanceLimited Company maturities forsharingspace atvariouslocations

2. RentalIncome ShriramCityUnion Holding Various Rentreceivedfor 302.22 FinanceLimited Company maturities occupyingspace

3. Reimbursementof ShriramCityUnion Holding - Commoncorporate 63.17 expenses FinanceLimited Company expensesand sharingcharges

4. Reimbursementof ShriramCityUnion Holding - Commoncorporate 15.26 expenses-Receipts FinanceLimited Company expensesand sharingcharges

5. UseofIntellectual ShriramOwnership Others 5years 1%oftotalincome 148.52 Property Trust subjecttolimitof 5%onPBT

6. Transferof ShriramCityUnion Holding 5years Transferofliability 6.98 employees- FinanceLimited Company foremployeebene�its Payable asperactuarial valuationontransfer date

7. Transferof ShriramCityUnion Holding 5years Transferofliability 32.64 employees- FinanceLimited Company foremployeebene�its Receivable asperactuarial valuationontransfer date

8. InterCorporate ShriramCityUnion Holding - - 16,500 Loan-Receipts FinanceLimited Company


Sr. Natureof Nameof Natureof Durationof Salientterms `inNo. contracts/ Related Relationship Contracts ofcontacts/ Lacs arrangements/ Party transactions transactions

9. Inter-Corporate ShriramCityUnion Holding - - 16,500 Loan-Payments FinanceLimited Company

10. InterCorporate ShriramCityUnion Holding - - 255.92 Loan-Interest Payments

11. RentalExpenses ShriramFortune - Various Rentalexpensesfor 0.75 SolutionsLimited maturities sharingspaceat variouslocations

12. RentalExpenses ShriramFinancial - Various Rentalexpensesfor 1.06 ProductsSolutions maturities sharingspaceat (Chennai)Private variouslocations Limited

13. Reimbursement ShriramFinancial - - Commoncorporate 0.19 ofexpenses ProductsSolutions expensesandsharing (Chennai)Private charges Limited

14. Reimbursement ShriramGeneral - - Commoncorporate 17.19 ofexpenses InsuranceLimited expensesandsharing charges

15. Reimbursement ShriramInsight - - Commoncorporate 1.03 ofexpenses ShareBroker expensesandsharing Limited charges

16. Reimbursement ShriramLife - - Commoncorporate 15.41 ofexpenses InsuranceCompany expensesandsharing Limited charges

17. Reimbursement ShriramValue - - Commoncorporate 1210.13 ofexpenses ServicesLimited expensesandsharing charges

18. RentalIncome ShriramFortune - Various Rentreceivedfor 3.47 SolutionsLimited maturities occupyingspace

19. RentalIncome ShriramInsight - Various Rentreceivedfor 0.57 ShareBroker maturities occupyingspace Limited

20 Reimbursement ShriramInsight - - Commoncorporate 0.09 ofexpenses- ShareBroker expensesandsharing Receipts Limited charges


DisclosurepursuanttotheprovisionsunderSection62(1)(b)oftheCompaniesAct,2013readwithRule12(9)oftheCompanies(ShareCapitalandDebentures)Rules,2014asatMarch31,2019.

I. SHFLEmployeesStockOptionScheme,2013

ANNEXURE-II

II. SHFLEmployeesStockOptionScheme,2016

PARTICULARS

a) Optionsgranted 3,35,000

b) Optionsvested 1,11,667

c) Optionsexercised Nil

d) Thetotalnumberofsharesarisingasaresultof Nil exerciseofoption

e) Optionslapsed 3,35,000

f) Theexerciseprice `35/-

g) Variationoftermsofoptions Nil

h) Directorandemployeewisedetailsofoptionsgrantedto:

i) KeyManagerialPersonnel 1. Mr.SujanSinha (ceasedtobetheManagingDirector& CEOw.e.f.August31,2018)

ii)Anyotheremployeewhoreceivesagrantofoptionin NA anyoneyearofoptionamountingto5%ormoreof optiongrantedduringthatyear.

iii)Identi�iedemployeeswhoweregrantedoption, NA duringanyoneyear,equaltoorexceeding1%ofthe issuedcapital(excludingoutstandingwarrantsand conversions)oftheCompanyatthetimeofgrant.

PARTICULARS

a) Optionsgranted 30,20,000

b) Optionsvested 2,50,000

c) Optionsexercised NIL

d) Thetotalnumberofsharesarisingasaresultof NIL exerciseofoption

e) Optionslapsedandcancelled 3,40,000

f) Theexerciseprice `10/-

g) Variationoftermsofoptions NIL

h) Directorandemployeewisedetailsofoptionsgrantedto:

i) KeyManagerialPersonnel 1. Mr.SubramanianJambunathan, ManagingDirector&CEO

2. Mr.SujanSinha (ceasedtobetheManagingDirector& CEOw.e.f.August31,2018)

ii)Anyotheremployeewhoreceivesagrantofoptionin NA anyoneyearofoptionamountingto5%ormoreof optiongrantedduringthatyear.

iii)Identi�iedemployeeswhoweregrantedoption, 1. Mr.SubramanianJambunathan, duringanyoneyear,equaltoorexceeding1%ofthe ManagingDirector&CEO issuedcapital(excludingoutstandingwarrantsand conversions)oftheCompanyatthetimeofgrant.


Sr. CSR Sectorin Projectof Amount Amount Cumulative AmountNo. project whichthe Program Outlay spentonthe Expenditure SpentDirect orActivity projectis (1)LocalArea (Budget) Projectsor uptothe orthrough Identi�ied covered orOther Projector Programs reporting Implementing (clauseno. (2)Specifythe Program SubHeads: periodi.e. Agency ofSchedule Stateand Wise(`) (1)Direct FY2018- VIItothe districtwhere Expenditure 2019(`) Companies projectsor onProjects Act,2013, programswas orPrograms asamended) undertaken (2)Overheads (`)

1 ShaktiGirls Promoting LocalArea. - 1.15 1.15 Direct Education Education NaviMumbai, Trust (Clauseii) Maharashtra

AnnualDisclosureonCorporateSocialResponsibility(CSR)activitiesforthe�inancialyear2018-19

(`inlacs)

ANNEXURE-III

1. A brief outline of the Company's CSR Policy includingoverview of projects or programs proposed to beundertaken and a reference to theweb-link to the CSRPolicyandprojectsorprogramsandthecompositionofCSRCommittee.

2. CompositionoftheCSRCommittee

3. Averagenetpro�itoftheCompanyforlastthree�inancialyears.

4. PrescribedCSRexpenditure (twopercentoftheamountmentionedinitem2above)

5. DetailsofCSRspentduringthe�inancialyear:

Totalamountspentforthe�inancialyear

Amountunspent,ifany

CSRPolicyisstatedhereinbelow:

Weblink:www.shriramhousing.in

1.Ms.LakshminarayananPriyadarshini –Chairperson2.Mr.SubramanianJambunathan3.Mr.Y.S.Chakravarti

4,228.37

84.57

1.15

83.42

IncasetheCompanyhasfailedtospendthetwopercentoftheaveragenetpro�itofthelastthree�inancialyearoranypartthereof,theCompanyshallprovidethereasonsfornotspendingtheamountinitsBoardReport:

TheCompanybelievesingivingbacktothesocietyandecosystemthatitisapartof.Accordingly,dueprocesshasbeenputinplacepresently,forevaluating,selectingandmonitoringtheCSRcontribution.TheCompanyisindiscussionswithvariouspartiestocontributetowardsvariouscausesinameaningfulway.

Weherebyaf�irmthattheCSRPolicy(“Policy”)oftheCompanyasapprovedbytheBoardofDirectorsoftheCompanyismonitoredbytheCSRCommitteeandtheCSRactivitieshavebeenimplementedinaccordancewiththePolicy.

Ms.LakshminarayananPriyadarshini(DIN:06592671)ChairpersonoftheCorporateSocialResponsibilityCommittee

Mr.SubramanianJambunathan(DIN:00969478)ManagingDirector&CEOandMemberoftheCorporateSocialResponsibilityCommittee

DetailsofAmountSpentonCSRActivitiesduringtheFinancialYear2018-19

(`inlacs)


DisclosureunderRule5(1)oftheCompanies(AppointmentandRemunerationofManagerialPersonnel)Rules,2014

ANNEXURE-IV

ManagingDirector(“MD”),ChiefExecutiveOf�icer(“CEO”),ChiefFinancialOf�icer(“CFO”)andCompanySecretary(“CS”).

NonExecutive(“NE”),Executive(“E”),NonIndependent(“NI”)andIndependent(“I”).

***AppointedasMD&CEOw.e.f.November20,2018@CeasedtobeMD&CEOw.e.f.August31,2018$CeasedtobeaDirectorw.e.f.May7,2018**CeasedtobeaDirectorw.e.f.May23,2018##CeasedtobeaDirectorw.e.f.September3,2018#AppointedasChiefFinancialOf�icerw.e.f.January21,2019.*CeasedtobetheChiefFinancialOf�icerw.e.fNovember19,2018.

Thepercentageincreaseinthemedianremunerationofemployeesinthe�inancialyearwas14%.

ThenumberofpermanentemployeesontherollsofcompanyasonMarch31,2019was677.

Theaverageincreaseinremunerationofemployeeswas20%andtheaverageincreaseintheremunerationoftheManagerial personnel was 29%. There was no exceptional circumstances for increasing the managerialremuneration.

NoemployeewaspaidinexcessoftheremunerationpaidtotheManagingDirector,whoisthehighestpaidemployee.

Itisaf�irmedthattheremunerationpaidisaspertheremunerationpolicyforDirectors,KeyManagerialPersonnelandEmployeesoftheCompany.

Sr. Nameof Designation Category Remuneration %ofincrease RatioofNo. Directors&KMPs duringtheyear duringthe remunerationof (2018-19) year2018-19 eachDirector/ tomedian remuneration ofemployees

1 Mr.Subramanian MD&CEO E,NI 61.24 - 14.01 Jambunathan***

2 Mr.Y.S.Chakravarti Director NE,NI - - -

3 Mr.Venkataraman Director NE,I 2.60 - 0.59 Murali

4 Ms.Lakshminarayanan Director NE,I 1.80 - 0.41 Priydarshini

5 Mr.SujanSinha@ MD&CEO E,NI 41.89 - 9.58

6 Mr.KhushruJijina$ Director NE,NI - - -

7 Dr.QudsiaGandhi** Director NE,I 0.80 - 0.18

8 Ms.SubhasriSriram## Director NE,NI - - -

9 Mr.KunalKarnani# CFO - 18.55 - -

10 Ms.NikitaHule CS - 12.03 - -

11 Mr.KankshitMunshi* CFO - 39.50 - -


TOPTENEMPLOYEESASPERREMUNERATIO

N-2018-1

9

Sr.

Name

Designation

Remunera

tion

Natu

reof

Quali�ica

tions

Experience

Dateof

Age

Lastemployment

Relationsh

ip

No.

(`inLacs

)employment

commence

ment

heldbefore

withM

Dor

(contractualor

ofemployment

joiningthe

Directors

oth

erw

ise)

org

anisation

1

Subraman

ian

MD&CEO

61.24

Perman

ent

BE,P

GDBM

26

November20,

49

HongKongan

d

No

Jambunathan

2018

Sh

angh

aiBan

king

Corporation

2

SujanSinha

MD&CEO

41.89

Perman

ent

B.SC

37

November8,201061

AxisBan

kLtd.

No

3

Kan

kshitM

unshi

Execu

tiveVice

39.50

Perman

ent

MBA

15

July10,2017

37

Adan

iPowerLim

ited

No

Presiden

t

4

PareshAthalye

VicePresiden

t32.46

Perman

ent

MBA

20

April1

8,2016

47

AxisBan

kLtd.

No

5

PrakashSharma

VicePresiden

t31.01

Perman

ent

C.A.

16

June21,2017

43

AxisBan

kLtd.

No

6

EktaM

aheshwari

SeniorVice

29.38

Perman

ent

MMS

20

Augu

st9,2011

45

AxisBan

kLtd.

No

Presiden

t

7

Man

ojK

umar

VicePresiden

t29.19

Perman

ent

MBA

18

Decem

ber30,

45

ICICIBan

kLtd.

No

Gupta

2014

8

MunishJain

Dep

utyVice

25.18

Perman

ent

MBA

16

January19,2017

38

Dew

anHousing

No

Presiden

t

Finan

ceLim

ited

9

Nagen

draSingh

Presiden

t24.70

Perman

ent

B.Sc,PGDM

21

Decem

ber1,2018

46

Equifax

No

10

SrinivasaRao

SeniorVice

23.89

Perman

ent

ICWA

22

February8,2011

47

ShriramTransport

No

Bhrugu

malla

Presiden

t

Finan

ceCompan

y

Lim

ited

(`inLacs)


FORMNO.MR-3

SECRETARIALAUDITREPORT

FINANCIALYEARENDEDMARCH31,2019

[Pursuanttosection204(1)oftheCompaniesAct,2013andRuleNo.9oftheCompanies(AppointmentandManagerialRemunerationPersonnel)Rules,2014]

To,

THEMEMBERS,

SHRIRAMHOUSINGFINANCELIMITED

123,ANGAPPANAICKENSTREET,

CHENNAI-600001

IhaveconductedthesecretarialauditofthecomplianceofapplicablestatutoryprovisionsandtheadherencetogoodcorporatepracticesbyShriramHousingFinanceLimited(hereinaftercalledthecompany).SecretarialAuditwasconducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutorycompliancesandexpressingouropinionthereon.

Basedonmyveri�icationofCompany'sbooks,papers,minutebooks, formsandreturns �iledandotherrecordsmaintainedbytheCompanyandalsotheinformationprovidedbytheCompany,itsof�icers,agentsandauthorizedrepresentativesduringtheconductofsecretarialaudit,weherebyreportthatinouropinion,theCompanyhas,during

sttheauditperiodcoveringthe�inancialyearendedon31 March,2019compliedwiththestatutoryprovisionslistedhereunderandalsothattheCompanyhasproperBoard-processesandcompliance-mechanisminplacetotheextent,inthemannerandsubjecttothereportingmadehereinafter.

Ihaveexaminedthebooks,papers,minutebooks, formsandreturns �iledandotherrecordsmaintainedbythestCompanyforthe�inancialyearended31 March,2019accordingtotheprovisionsof:

1) TheCompaniesAct,2013(theAct)andtherulesmadethereunder;

2) TheSecuritiesContracts(Regulation)Act,1956('SCRA')andtherulesmadethereunder;

3) TheDepositoriesAct,1996andtheRegulationsandBye-lawsframedthereunder;

4) ForeignExchangeManagementAct,1999andtherulesandregulationsmadethereundertotheextentofForeignDirectInvestment.

5) ThefollowingRegulationsandGuidelinesprescribedundertheSecuritiesandExchangeBoardof IndiaAct,1992('SEBIAct'):-

a) TheSecuritiesandExchangeBoardofIndia(IssueandListingofDebtSecurities)Regulations,2008.

b) TheSecuritiesandExchangeBoardofIndia(RegistrarstoanIssueandShareTransferAgents)Regulations,1993regardingtheCompaniesActanddealingwithclient.

c) TheSecuritiesandExchangeBoardofIndia(ListingObligationandDisclosureRequirements)Regulation,2015.

6) TheNationalHousingBankAct,1987includingHousingFinanceCompanies(NHB)Directions,2010.

7) ReserveBankofIndiaAct,1934.

Wehavealsoexaminedcompliancewiththeapplicableclausesofthefollowing:

(i) SecretarialStandardsissuedbyTheInstituteofCompanySecretariesofIndia.

(ii) TheDebtListingAgreemententeredintobytheCompanywithBSELimited.

During the period under review the Companyhas compliedwith the provisions of theAct, Rules, Regulations,

ANNEXURE-V


Guidelines,Standards,etc.mentionedabove.Duringtheyearunderreview,theCompanyhasreceivedacall forinformationfromtheMinistryofCorporateAffairsseekingclari�icationonthenon-spendingofCorporateSocialResponsibilityandnecessaryclari�icationinthisregardwasmadebytheCompany.

Ifurtherreportthat

TheBoardofDirectorsoftheCompanyisdulyconstitutedwithproperbalanceofExecutiveDirectors,Non-ExecutiveDirectorsandIndependentDirectors.ThechangesinthecompositionoftheBoardofDirectorsthattookplaceduringtheperiodunderreviewwerecarriedoutincompliancewiththeprovisionsoftheAct.

AdequatenoticeisgiventoalldirectorstoscheduletheBoardMeetings,agendaanddetailednotesonagendaweresent at least seven days in advance, and a system exists for seeking and obtaining further information andclari�icationsontheagendaitemsbeforethemeetingandformeaningfulparticipationatthemeeting.

AlldecisionswerecarriedoutwithunanimousapprovaloftheBoardandtherewasnoinstanceofdissentvotingbyanymemberduringtheperiodunderreview.

IhaveexaminedthesystemsandprocessesestablishedbytheCompanytoensurethecompliancewithgenerallawsincluding Labour Laws, Employees Provident Funds Act, Employees State Insurance Act & other State Laws,consideringandrelyinguponrepresentationsmadebytheCompanyanditsOf�icersforsystemsandmechanismsformedbytheCompanyforcomplianceundertheselawsandotherapplicablesectorspeci�icActs,Laws,RulesandRegulationsapplicabletotheCompanyanditsobservancebythem.

IfurtherreportthatthereareadequatesystemsandprocessesintheCompanycommensuratewiththesizeandoperationsofthecompanytomonitorandensurecompliancewithapplicablelaws,rules,regulationsandguidelines.

Ifurtherreportthatduringtheauditperiod,therewerenospeci�icevents/actionshavingmajorbearingontheCompany'saffairsinpursuanceoftheabovereferredlaws,rules,regulations,guidelines,etc.

Signature:

Place:Chennai (P.Sriram)Date:April22,2019 P.Sriram&Associates FCSNo.4862/CPNo:3310


To,

THEMEMBERS,SHRIRAMHOUSINGFINANCELIMITED

Myreportofevendateistobereadalongwiththissupplementarytestimony.

1. MaintenanceofsecretarialrecordistheresponsibilityofthemanagementoftheCompany.Myresponsibilityistoexpressanopiniononthesesecretarialrecordsbasedonouraudit.

2. IhavefollowedtheauditpracticesandprocessesaswereappropriatetoobtainreasonableassuranceaboutthecorrectnessofthecontentsoftheSecretarialrecords.Theveri�icationwasdoneontestbasistoensurethatcorrectfactsarere�lectedinsecretarialrecords.Ibelievethattheprocessesandpractices,theCompanyhadfollowedprovideareasonablebasisforouropinion.

3. I have not veri�ied the correctness and appropriateness of �inancial records and Books of Accounts of theCompany.

4. Whereverrequired,IhaveobtainedtheManagementrepresentationaboutthecomplianceoflaws,rulesandregulationsandhappeningofeventsetc.

5. ThecomplianceoftheprovisionsofCorporateandotherapplicablelaws,rules,regulations,standardsistheresponsibilityofmanagement.Myexaminationwaslimitedtotheveri�icationofproceduresontestbasis.

6. TheSecretarialAuditreportisneitheranassuranceastothefutureviabilityoftheCompanyoroftheef�icacyoreffectivenesswithwhichthemanagementhasconductedtheaffairsoftheCompany.

Signature:

Place:Chennai (P.Sriram)

Date:April22,2019 P.Sriram&Associates

FCSNo.4862/CPNo:3310

ANNEXURE-A


I,P.Sriram,Proprietor,P.Sriram&Associateshaveexamined

(a) All thedocumentsandrecordsmadeavailable tousandexplanationprovidedbyShriramHousingFinanceLimited(“thelistedentity”).

(b) The�ilings/submissionsmadebythelistedentitytothestockexchanges.

(c) Websiteofthelistedentity.

(d) Anyotherdocument/�iling,asmayberelevant,whichhasbeenreliedupontomakethiscerti�ication.

Fortheyearended31stMarch,2019(“ReviewPeriod”)inrespectofcompliancewiththeprovisionsof:

(a) TheSecuritiesandExchangeBoardofIndiaAct,1992(“SEBIAct”)andtheRegulations,circulars,guidelinesissuedthereunder;

(b) TheSecuritiesContracts(Regulation)Act,1956(“SCRA”),rulesmadethereunderandtheRegulations,circulars,guidelinesissuedthereunderbytheSecuritiesandExchangeBoardofIndia(“SEBI”).

Thespeci�icRegulations,whoseprovisionsandthecirculars/guidelinesissuedthereunder,havebeenexamined,including:-

(a) SecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015.

(b) SecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements)Regulations,2018;(NotApplicabletothecompanyduringthereviewperiod)

(c) SecuritiesandExchangeBoardofIndia(SubstantialAcquisitionofSharesandTakeovers)Regulations,2011;(NotApplicabletothecompanyduringthereviewperiod)

(d) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; (Not Applicable to thecompanyduringthereviewperiod)

(e) SecuritiesandExchangeBoardofIndia(ShareBasedEmployeeBene�its)Regulations,2014;(NotApplicabletothecompanyduringthereviewperiod)

(f) SecuritiesandExchangeBoardofIndia(IssueandListingofDebtSecurities)Regulations,2008;(NotApplicabletothecompanyduringthereviewperiod)

(g) Securities and Exchange Board of India (Issue and Listing of Non-Convertible and Redeemable PreferenceShares)Regulations,2013;(NotApplicabletothecompanyduringthereviewperiod)

(h) SecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations,2015;(NotApplicabletothecompanyduringthereviewperiod)

(i) TheSecuritiesandExchangeBoardofIndia(RegistrarstoanIssueandShareTransferAgents)Regulations,1993

(j) SecuritiesandExchangeBoardofIndia(DepositoriesandParticipant)Regulations,2018.

Basedontheaboveexamination,Iherebyreportthat,duringtheReviewPeriod:

(a)ThelistedentityhascompliedwiththeprovisionsoftheaboveRegulationsandcirculars/guidelinesissuedthereunder,exceptinrespectofmattersspeci�iedbelow:-

(b)ThelistedentityhasmaintainedproperrecordsundertheprovisionsoftheaboveRegulationsandcirculars/guidelinesissuedthereunderinsofarasitappearsfrommyexaminationofthoserecords.

(c) The following are the details of actions taken against the listed entity/ its promoters/ directors/materialsubsidiarieseitherbySEBIorbyStockExchanges(includingundertheStandardOperatingProceduresissuedbySEBI through various circulars) under the aforesaid Acts/ Regulations and circulars/ guidelines issuedthereunder:

SECRETARIALCOMPLIANCEREPORTOFSHRIRAMHOUSINGFINANCELIMITEDFORTHEYEARENDEDMARCH31,2019

Sr. ComplianceRequirement(Regulations/ Deviations Observations/RemarksoftheNo. circulars/guidelinesincludingspeci�icclause) PracticingCompanySecretary

1. Nil Nil Nil


Sr. Actiontakenby Detailsofviolation Detailsofactiontaken Observations/remarksoftheNo. E.g.�ines,warningletter, PracticingCompanySecretary, debarment,etc. ifany

1. Nil Nil Nil Nil

(d)Thelistedentityhastakenthefollowingactionstocomplywiththeobservationsmadeinpreviousreports:

Signature:

Place:Chennai (P.Sriram)

Date:April22,2019 P.Sriram&Associates

FCSNo.4862/CPNo:3310

Sr. Observationsof Observationsmade Actionstakenbythe CommentsofthePracticingNo. thePracticing inthesecretarial listedentity,ifany CompanySecretaryonthe CompanySecretary compliancereportfor actionstakenbythe intheprevious theyearended listedentity reports

1. NotApplicable NotApplicable NotApplicable NotApplicable


FORMNO.MGT-9

EXTRACTOFANNUALRETURNASONTHEFINANCIALYEARENDEDONMARCH31,2019

[Pursuanttosection92(3)oftheCompaniesAct,2013andrule12(1)oftheCompanies(ManagementandAdministration)Rules,2014]

I. REGISTRATIONANDOTHERDETAILS:

i) CIN U65929TN2010PLC078004

ii) RegistrationDate November9,2010

iii) NameoftheCompany ShriramHousingFinanceLimited

iv) Category/Sub-CategoryoftheCompany CompanyLimitedbyShares/IndianNonGovernmentCompany

v) AddressoftheRegisteredOf�iceand 123,AngappaNaickenStreet,Chennai–600001 contactdetails ContactNo.044-25341431

vi) Whetherlistedcompany No.DebtsecuritiesarelistedontheWholesaleDebtSegmentofBSELtd.

vii)Name,AddressandContactdetailsof ShriramInsightShareBrokersLimited RegistrarandTransferAgent,ifany MookambikaComplex

4,LadyDesikaRoad,MylaporeChennai–600004

ContactNo.044-23587188

IntegratedRegistry ManagementServicesPrivateLimited

2ndFloor,KencesTowersNo.1RamakrishnaStreet,NorthUsmanRoadTNagar,Chennai–600017

ContactNo.044-28140801

II. PRINCIPALBUSINESSACTIVITIESOFTHECOMPANY Allthebusinessactivitiescontributing10%ormoreofthetotalturnoveroftheCompanyshallbestated

III. PARTICULARSOFHOLDING,SUBSIDIARYANDASSOCIATECOMPANIES

IV. SHAREHOLDINGPATTERN(EquityShareCapitalBreakupaspercentagetoTotalEquity) i) Category-wiseshareholding

Sl. NameandDescriptionofmain NICCodeoftheProduct/Service %tototalturnoverNo. products/services oftheCompany

1 InterestincomeonLoans 65922 90.92%

2. FeesIncome 65922 4.45%

ANNEXURE-VI

SI. NameandAddressoftheCompany CIN/GLN Holding/ %of ApplicableNo. shares Section held

1. ShriramCityUnionFinanceLimited L65191TN1986PLC012840 Holding 77.25% 2(46) 123,AngappaNaickenStreet, Company Chennai–600001


Sl.

Category

of

No.o

fshare

sheldatthe

No.o

fshare

sheldatthe

%Changeend

No.

share

holders

beginningoftheyear

duringth

eyear

oftheyear

Demat

Physica

lTotal

%oftotal

Demat

Physica

lTotal

%oftotal

sh

are

s

share

s

A.

Pro

moters

1.

Indian

a)

Individual/H

UF

--

--

--

--

-

b)

Cen

tralGovt

-

--

--

--

-

c)

StateGovt(s)

-

--

--

--

-

d)

Bodies*

-16,54,40,00016,54,40,000

77.25

-16,54,40,00016,54,40,000

77.25

Nil

e)

Ban

ks/FIs

-

--

--

--

-

f)

Anyother

-

--

--

--

-

Sub-total(A

)(1

):-

-16,54,40,00016,54,40,000

77.25

-16,54,40,00016,54,40,000

77.25

Nil

2.

Fore

ign

-

--

--

--

-

a)

NRIs–Individuals

--

--

--

--

b)

Other-Individuals

-

--

--

--

-

c)

BodiesCorporate

--

--

--

--

-

d)

Ban

ks/F

is

-

--

--

--

-

e)

Anyother

-

--

--

--

-

Sub-total(A

)(2

):-

--

--

--

--

-

TotalShare

holding

-16,54,40,00016,54,40,000

77.25

-16,54,40,00016,54,40,000

77.25

Nil

ofPro

moter(A

)=

(A

)(1

)+(A)(2

)

*Includes6nomineesoftheholdingCompan

y,whohold1shareeach

.


Sl.

Category

of

No.o

fshare

sheldatthe

No.o

fshare

sheldatthe

%Changeend

No.

share

holders

beginningoftheyear

duringth

eyear

oftheyear

Demat

Physica

lTotal

%oftotal

Demat

Physica

lTotal

%oftotal

sh

are

s

share

s

B.

PublicShare

holding

1.

Institutions

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

a)

MutualFunds

--

--

--

--

-

b)

Ban

ks/FI

--

--

--

--

-

c)

Cen

tralGovt.

--

--

--

--

-

d)

StateGovt(s)

--

--

--

--

-

e)

Ven

tureCap

italFunds

--

--

--

--

-

f)

InsuranceCompan

ies

--

--

--

--

-

g)

FIIs

--

--

--

--

-

h)

ForeignVen

tureCap

italFunds

--

--

--

--

-

IOthers(specify)

--

--

--

--

-

Sub-total(B)(1

):-

--

--

--

--

-

2.

Non-In

stitutions

a)

BodiesCorporate

--

--

--

--

-

I

Indian

--

--

--

--

-

ii)

Overseas

-4,87,20,000

4,87,20,000

22.75%

-4,87,20,000

4,87,20,000

22.75%

-

b)

Individuals

--

--

--

--

-

IIndividualshareh

olders

--

--

--

--

-

holdingnominalShare

Cap

italupto1Lak

h

ii)

Individualshareh

olders

--

--

--

--

-

holdingnominalshare

capitalinexcessof 1Lak

h

c)

Others(specify)

--

--

--

--

-

Sub-total(B)(2

):-

-–

--

--

--

-

TotalP

ublic

--

--

--

--

-

Share

holding(B)=

(B

)(1

)+(B)(2

)

C.

Share

sheldby

--

--

--

--

-

Custodianfo

rGDRs

&ADRs

Gra

ndTotal(A+B+C)

-21,41,60,00021,41,60,000

100%

-

21,41,60,00021,41,60,000

100%

-


ii) ChangeinPromoters'Shareholding(pleasespecify,ifthereisnochange)-NIL

SI. Shareholdingatthe CumulativeShareholdingNo. beginningoftheyear duringtheyear

No.of %oftotal No.of %oftotal shares sharesofthe shares sharesofthe Company Company

1 Atthebeginningoftheyear 16,54,40,000 77.25 16,54,40,000 77.25

2 DatewiseIncrease/DecreaseinPromoters Shareholdingduringtheyearspecifyingthe Nil Nil Nil Nil reasonsforincrease/decrease(e.g.Allotment/ transfer/bonus/sweatequityetc)

3 Attheendoftheyear 16,54,40,000 77.25 16,54,40,000 77.25

iii) ShareholdingofPromoters

iv) ShareholdingPatternoftoptenshareholders(otherthanDirectors,PromotersandHoldersofGDRsandADRs):

SI. Shareholder's Shareholdingatthe No.ofsharesheldat %ChangeNo. Name beginningoftheyear theendoftheyear inshare- holding during theyear

No.of %of %ofshares No.of %of %ofshares shares total Pledged/ shares total Pledged/ ofthe Encumbered ofthe Encumbered shares tototal shares tototal Company shares Company shares

1. ShriramCity 16,54,40,000 77.25 Nil 16,54,40,000 77.25 Nil Nil Union Finance Limited


Foreachofthetop10shareholders No.of %oftotal No.of %oftotal shares sharesofthe shares sharesofthe Company Company

4,87,20,000 22.75 4,87,20,000 22.75

DatewiseIncrease/DecreaseinShareholding Nil Nil Nil Nil duringtheyearspecifyingthereasonsfor increase/decrease(e.g.Allotment/transfer/ bonus/sweatequityetc)

Attheendoftheyear(oronthedateof 4,87,20,000 22.75 4,87,20,000 22.75 separation,ifseparatedduringtheyear)



ForeachoftheDirectorsandKMP No.of %oftotal No.of %oftotal shares sharesofthe shares sharesofthe Company Company

Atthebeginningoftheyear Negligible Negligible Negligible Negligible

DatewiseIncrease/DecreaseinShareholding Nil Nil Nil Nil duringtheyearspecifyingthereasonsfor increase/decrease(e.g.Allotment/transfer/ bonus/sweatequityetc)

Attheendoftheyear Negligible Negligible Negligible Negligible

V. INDEBTEDNESS

IndebtednessoftheCompanyincludinginterestoutstanding/accruedbutnotdueforpayment

(`inLacs)

SecuredLoans Unsecured Deposits Total excluding Loans Indebtedness deposits

Indebtednessatthebeginningofthe�inancialyear

i) PrincipalAmount 1,34,781.67 9,860.43 - 1,44,642.10

ii) Interestduebutnotpaid - - - -

iii) Interestaccruedbutnotdue 3,341.28 - - 3,341.28

Total(i+ii+iii) 1,38,122.95 9,860.43 - 1,47,983.38

ChangeinIndebtednessduringthe�inancialyear

• Addition 63154.76 43,704.25 - 1,06,859.01

• Reduction (37,046.15) (48,606.20) - (85,652.35)

NetChange (26,108.61) (4,901.96) - (21,206.66)

Indebtednessattheendofthe�inancialyear

i) PrincipalAmount 1,61,916.80 4,958.47 - 1,66,875.27

ii) Interestduebutnotpaid - - - -

iii) Interestaccruedbutnotdue 2,314.76 - - 2,314.76

Total(i+ii+iii) 1,64,231.56 4,958.47 - 1,69,190.04

v) ShareholdingofDirectorsandKeyManagerialPersonnel.


VI. REMUNERATIONOFDIRECTORSANDKEYMANAGERIALPERSONNEL

A. REMUNERATIONTOMANAGINGDIRECTOR,WHOLE-TIMEDIRECTORSAND/ORMANAGER:

(`inLacs)

Sl. ParticularsofRemuneration NameofMD/ NameofMD/ TotalNo. WTD/Manager WTD/Manager Amount

Subramanian SujanSinha– Jambunathan– Managing ManagingDirector Director &CEO* &CEO**

1. GrossSalary 61.24 41.89 103.13

(a) Salaryasperprovisionscontainedin Section17(1)oftheIncomeTaxAct,1961

(b) Valueofperquisitesu/s17(2)ofthe IncomeTaxAct,1961

(c) Pro�itsinlieuofsalaryundersection17(3) oftheIncomeTaxAct,1961

2. StockOption

3. SweatEquity

4. Commission

-As%ofpro�it

-Others,specify….

5. Others,pleasespecify: VariablePay

Total(A) 61.24 41.89 103.13

*Mr.SubramannianJambunathanwasappointedastheManagingDirector&CEOw.e.f.November20,2018.

**Mr.SujanSinhaceasedtobetheManagingDirector&CEOw.e.f.August31,2018.

TheremunerationpaidtotheManagingDirectoriswellwithintheprescribedlimitsoftheCompaniesAct,2013.

B. REMUNERATIONTOOTHERDIRECTORS:

(`inLacs)

Sl.No. ParticularsofRemuneration NameofMD/WTD/Manager TotalAmount

1. IndependentDirectors Venkataraman Lakshminarayanan Qudsia Murali Priyadarshini Gandhi

•FeeforattendingBoard 2.60 1.80 0.80 5.20 CommitteeMeetings

•Commission

•Others,pleasespecify

Total(1) 2.60 1.80 0.80 5.20

2. OtherNon-ExecutiveDirectors

•FeeforattendingBoard Committeemeetings

•Commission

•Others,pleasespecify

Total(2)

Total(B)=(1+2) 2.60 1.80 0.80 5.20

TotalManagerialRemuneration 2.60 1.80 0.80 5.20


C. REMUNERATIONTOKEYMANAGERIALPERSONNELOTHERTHANMD/MANAGER/WTD

(`inLacs)

VII.PENALITIES/PUNISHMENT/COMPOUNDINGOFOFFENCES

Type Sectionofthe Brief DetailsofPenalty/ Authority Appeal Companies Description Punishment/ [RD/NCLT/ madeifany Act Compounding/ COURT] (givedetails) feesimposed

A. COMPANY

Penalty Nil Nil Nil Nil Nil

Punishment Nil Nil Nil Nil Nil

Compounding Nil Nil Nil Nil Nil

B. DIRECTORS




C. OTHEROFFICERSINDEFAULT




*Mr.KunalKarnaniwasappointedastheChiefFinancialOf�icerw.e.f.January21,2019andMr.KarkshitMunshiceasedtobetheChiefFinancialOf�icerw.e.f.November19,2018.

Sl.No. ParticularsofRemuneration Company ChiefFinancial ChiefFinancial Total Secretary Of�icer Of�icer KunalKarnani* KarkshitMunshi*

1. GrossSalary 12.03 18.55 39.50 70.08

(a) Salaryasperprovisionscontained inSection17(1)oftheIncomeTax Act,1961

(b) Valueofperquisitesu/s17(2) IncomeTaxAct,1961

(c) Pro�itsinlieuofsalaryunder section17(3)ofIncomeTax,1961

2. StockOption

3. SweatEquity

4. Commission

-As%ofpro�it

-Others,specify

5. Others,please,specify: VariablePay

Total 12.03 18.55 39.50 70.08


To,

TheBoardofDirectorsShriramHousingFinanceLimited123,AngappaNaickenStreet,Chennai–600001

CEOANDCFOCERTIFICATION

WetheundersignedSubrmanianJambunathan,ManagingDirector&CEOandKunalKarnani,ChiefFinancialOf�icerhereby certify that for the �inancial year endedMarch 31, 2019,we have reviewed Annual accounts, �inancialstatementandthecash�lowstatementandtothebestofourknowledgeandbelief:

1. Thesestatementsdonotcontainanymateriallyuntruestatementoromitanymaterialfactorcontainstatementsthatmightbemisleading.

2. ThesestatementstogetherpresentatrueandfairviewoftheCompany'saffairsandareincompliancewithexistingaccountingstandard,applicablelawsandregulations.

3. TherearenotransactionenteredintobytheCompanyduringtheyearwhicharefraudulent,illegalorviolatetheCompany'sPolicies.

4. Weaccept responsibility forestablishingandmaintaining internal controlsand thatwehaveevaluated theeffectivenessofinternalcontrolsystemsoftheCompanyandwehavedisclosedtotheauditorsandtheAuditCommitteethede�iciencies,ofwhichweareaware,inthedesignoroperationoftheinternalcontrolsystemsandwehavetakenthestepstorectifythesede�iciencies.

5. Wefurthercertifythat:

a. Therehavebeennosigni�icantchangesininternalcontrolduringthisyear.

b. Therehavebeenchangesintheaccountingpoliciesduringthisasmentionedinthesigni�icantaccountingpoliciesandnotestoaccounts.

Place:Mumbai Mr.SubramanianJambunathan Mr.KunalKarnani

Date:April22,2019 ManagingDirector&CEO ChiefFinancialOf�icer

ANNEXURE-VII


OverviewoftheIndianEconomy

Indianeconomystartedtheyearwithagrowthofnearly8%intheApril to June2018quarter.Thegrowthhashowevertapereddownbytheendofthe�inancialyear.ThegrowthintheOctober–December2018hitalowof6.6%onthebackofaweakconsumerdemandandlowergovernmentspending.Theeconomyfacedvariousheadwindswiththein�lationreachingnear2yearhighlevels,drivenbysurgingoilprices.Onthebackofrisingin�lationtheReserveBankofIndiaincreasedtheRepoRateby25basispointsinJune2018andAugust2018.Howeverinordertodrivetheslowingeconomytherateswerereducedby25basispointseachinFebruary2019andApril2019.FinallytheRBIcuttheratesyetagaininJune2019byanother25basispoints,movingtoamoreaccommodativestance.

TheNewGovernmentwithastrongmandateatthecentrewillhaveaclearrunwaytodrivereformsandgrowthwhichshouldaugurwellfortheeconomy,onalongtermbasis,despitetheneartermuncertaintyaroundthemonsoon.

India'srevenuereceiptsareestimatedtotouch`28-30trillion(US$385-412billion)by2019,owingtoGovernmentofIndia'smeasurestostrengtheninfrastructureandreformslikedemonetisationandGoodsandServicesTax(GST).

HousingFinanceIndustry

Housing�inancehasbeenoneofthefastestgrowingsectorswithinthe�inancialservicesspace.Housing�inancecompanies(HFC)havebeenabletocapturealargesectionofthegrowthwithinthesector.AsperCrisil,therearetworeasonsforthefastgrowth–�irstistheabilityofHFCstotapthemassiveopportunityinaffordablehousing,andsecondistheslowercreditgrowthatbanksprovidingHFCstheroomtorampupfasterandcontinuegainingmarketshare.

TheFinancialservicessectorandHFCsinparticularhaveseenchallengingtimessincetheQ3ofFY19.Giventheheadwindsbeing facedby thesector, thecreditgrowthhasdriedup leading toHFCspreferring toraisemoneythroughsecuritization.

Structuralgrowthopportunities–Thehousing�inancesectorhassteadilygrownat18%inthelastsevenyears,accordingtothe2017IndiaHousingFinanceReport.ThesectorhasfurthergrowthinstorewiththeGovernmentfocusingonHousingforAll,throughvariousschemessuchastheThePradhanMantriAwasYojana(PMAY)whichaimstobuildover2croreaffordablehomesacross305ruralandurbancentres.

RecentDevelopmentinHousingFinanceIndustry

• Bene�itstoAffordablehomebuyersextended-Formakingmorehomesavailableunderaffordablehousing,thebene�itsunderSection80-IBAoftheIncomeTaxActisbeingextendedforonemoreyear,i.e.tothehousingprojectsapprovedtill31March,2020.

• AdditionalboostfromexemptionoftaxonNotionalRent-Investorsusedtoshyawayfrompropertymarketastheywerechargedtaxonthenotionalrentalincomefromtheirsecondhomesirrespectiveofwhethertheyputthepropertyonrentornot.Theexemptiononnotionalrentislikelytoattractmoreinvestorsinthehomemarket.

• TaxBene�its-Developerswhobuildaffordablehomesareexemptedfrompayingtaxesontheirpro�itsfor�iveyearsstarting2016insteadthreeyears.

TDSthresholdfordeductionoftaxonrenthasbeenincreasedfrom 1.80lakhto 2.40lakh.

ChallengesfacedbyHFCs

Someofthekeychallengesfacedbythehousing�inancecompaniesareasunder:

• Riskofincreasingborrowingrate

Thehousing�inancesectorcouldexperiencesomeheadwindswiththecreditdryingupandtheborrowingcostsincrease.Thereareindicationsthatin�lationwillriseoverthemedium-term,whichwillsubsequentlyhaveanimpactonthissector.

• ImpactofRERA

ImplementationoftheRealEstateRegulationandDevelopmentAct(RERA)wasabigstepinstreamliningtherealestatesector.However,newhomeprojectstookabighit.Launchofnewprojectswasdownby41%acrossthecountry,accordingtoaJuly2017reportbyKnightFrank.Aslowdowninnewprojectswouldconsequentlyresultinlesserpeopletakinghomeloans.ButmostexpertsfeeltheRERAjoltistemporaryandwouldberesolvedoverthemedium-term

MANAGEMENTDISCUSSION&ANALYSIS


• RisingNPA

Theremaybeagrowthinloandisbursementintheaffordablehousingcategory,buttheamountofbadloans,alsoknownasnon-performingassets(NPAs),hasrisensharply.DatasuggestthattheNPAshaverisenstarklyintheaffordablehousingsector.

• RisingRepossessedAssets

StockofRepossessedAssetshaveincreasedduetolowersaleabilityoftheassetsleadingtoelongatedrecoverytime.

OutlookforSHFL

SHFLembarkedonatransformationplanin2018togrowthecompanyintoapremierhousing�inancecompanyofscale.Theplanincludedacompleterevampoftheoperatingstructureofthecompany.

Theoverallstrategyforthenearterm–3years–wouldbetoconcentrateonfewkeystateswheretheCompanyandtheGrouphaveastrongpresence.TheCompanyshallconcentrateonthemidsegmentcustomerwhichresonatesmostwiththeethosandexperienceoftheCompanyandtheGroup.TheCompanyshallfurthergranulisethebookrelyingonmortgagesonendcustomers.TheCompanywillalsofurthercontinuetofocusonitscoreproductofferingofprovidingsecuredmortgages,loansagainstpropertiestoendusers.

FinancialPerformance KeyRatios

InternalControlSystems

ShriramHousingFinancehaslaidadequatemechanismstoincreasesustainablepotentialoftheorganizationandmaintainhealthyworkingenvironment.Itmaintainsasystemofinternalcontrolsdesignedtoprovideahighdegreeof assurance regarding the effectiveness and ef�iciencyof operations, the adequacyof safeguard for assets, thereliabilityof�inancialcontrolsandcompliancewithapplicablelawsandregulations.

Thesuf�iciencyandef�icacyofinternalcontrolsystemismonitoredbytheinternalauditorsintandemwithexternalaudit�irms,appointedbytheCompany,tocarryoutConcurrentAudit.TheinternalauditreportsareplacedbeforetheAuditCommitteealongwithsigni�icantauditobservationsandfollowupactionsthereon.Thestatutoryauditorsalsopresenttheirsuggestionstothemembersforimprovementsincontrolandcompliance.

DevelopmentsinHumanResourcesFront

ShriramHousingFinanceiscommittedinacquiringandretainingtalentwhichplaysasigni�icantroleintoday'smarketscenario.TheCompanyisfocusedonhiringthe�inesttalentandinprovidingthemwithopportunitiesthatmatchtheirability,aspirationsanddrive.

SHFLendeavorstoensurethatitcontinuestoattractandacquirethebesttalent.Ourselectionprocesseselaboratelycoversvariouslevelsofassessmenttoensuretheright�ittothecultureandrolesavailableintheorganization.

TheCompanyaspirestoprovideouremployeesanenvironmentthatencouragescontinuouslearningandregularperformance feedback, the Performance Management System contribute signi�icantly in the identi�ication andnurturingofthehighperformersintheorganization.

Particulars(`cr.) FY19 FY18

TotalIncome 291.27 280.65

PBT 25.07 58.02

NetInterestIncome 162.25 164.51

PAT 16.65 38.36

AUM 1,847.66 1,790.07

NetWorth 465.80 448.46

Particulars(%) FY19 FY18

ReturnonAverageNetWorth 3.78% 8.97%

ReturnonAssets 0.84% 2.13%

CapitalAdequacyRatio 29.94% 33.02%


To,

TheMembersof

ShriramHousingFinanceLimited

REPORTONTHESTANDALONEFINANCIALSTATEMENTS

Opinion

WehaveauditedtheaccompanyingStandalone�inancialstatementsofShriramHousingFinanceLimited(“theCompany”)whichcomprisestheBalanceSheetasatMarch31,2019,theStatementofPro�itandLoss(includingOtherComprehensiveIncome),StatementofChangesinEquityandStatementofCashFlowsfortheyearthenended,andnotestotheStandaloneFinancialStatements,includingasummaryofsigni�icantaccountingpoliciesandotherexplanatoryinformation(hereinafterreferredtoas“StandaloneFinancialStatements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaidStandaloneFinancialStatementsgivetheinformationrequiredbytheCompaniesAct,2013(“theAct”)inthemannersorequiredandgiveatrueandfairviewinconformitywiththeaccountingprinciplesgenerallyacceptedinIndia,includingtheIndianAccountingStandards(“IndAS”),ofthestateofaffairsoftheCompanyasatMarch31,2019,itsTotalComprehensiveIncome,changesinequityanditscash�lowsfortheyearendedonthatdate.

BasisforOpinion

WeconductedourauditinaccordancewiththeStandardsonAuditing(SAs)speci�iedundersection143(10)oftheAct.OurresponsibilitiesunderthoseStandardsarefurtherdescribedintheAuditor'sResponsibilitiesfortheAuditoftheStandaloneFinancialStatementssectionofourreport.WeareindependentoftheCompanyinaccordancewiththe Code of Ethics issued by the Institute of Chartered Accountants of India (“ICAI”) togetherwith the ethicalrequirementsthatarerelevanttoourauditoftheStandaloneFinancialStatementsundertheprovisionsoftheActand the Rules thereunder, and we have ful�illed our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtained is suf�icient andappropriatetoprovideabasisforouropinion.

KeyAuditMatters

Keyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsigni�icanceinourauditofthe�inancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthe�inancialstatementsasawhole,andin formingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.

1. ReviewofERPSystemControls

Thecompany'snatureofbusinessissuchthatitsoperations,booksofaccountsand�inancialstatementsaremainlydependentonitsComputerisedInformationsystems.ControlsinsuchsystemsaredeterminedtobeaKeyAuditMatterbecauseofitspotentialtoimpacttheoperations(i.e.overallresults)aswellits�inancialstatements(i.e.resultsasreported).

Wehavereviewedthecontrolsputinplacebythecompanyinitsinformationsystemsasdetailedoutinitsvarious policies, procedures, guidelines and presentations relating to IT and IT related security, andreportsemanating fromaudit of information systems carried out by theCompany through external serviceproviders.TheCompanyalsodoes regularVulnerabilityAssessment&PenetrationTesting (VAPT) throughCERT-INempanelledorganizationsforeffectivefunctionalityofitscriticalapplicationandinfrastructure.Wehavereviewedthecontrolsinareaofbookclosure,preparationof�inancialstatements,andtheirreconciliationwithbooksofaccounts.BasedonourreviewasaboveanddiscussionwiththemanagementincludingdesignatedITpersonnel,thecontrolsputinplacebytheCompanyinitsERPsystemsarefoundtobesatisfactory.ThepresentISOcerti�icationoftheCompanyisvaliduptoJuly2022.

INDEPENDENTAUDITOR'SREPORT


2. Provisions&write-offs

Until theprevious�inancialyear,provisiononloanassetswasbeingmadebasedonmanagementestimatessubjecttominimumprescribedprovisionaspernormsofNHB.Permanentdiminutioninvalueofinvestmentswasbeingprovided for.This �inancialyearonwards,provisionsonall loans,and �inancialassets/ liabilitiesclassi�iedasatAmortisedCostoratFairValue throughOtherComprehensive IncomehasbeenmadebasisExpectedCreditLossmodelasrequiredbyIndAS.ThismodeltakesintoaccounttheCompany'sexposure,theprobabilityofdefault,theexpectedlossintheeventofdefault,andtimevalueofmoney.Thismodelisdependentonmanagementestimatesbasedonhistoricaldataandfutureoutlookonthebusinessenvironment.

ThismatterisdeterminedtobeaKeyAuditMatterbecauseitimpactsamajorpartoftheassetsandliabilitiesconsideringthenatureofbusinessoftheCompany.

Wehavereviewedthebasis for themanagement'sestimatesmade in thisECLmodel.WehavecheckedthecalculationofECLmadewiththebooksofaccountsandthesearegenerallyfoundtobesatisfactory.Assetswhicharenotrecoverableaspermanagementestimatesarechargedtorevenueaswriteoff.

3. SaleofAssetstoanassetreconstructioncompany(ARC)

During the year under review theCompanyhas sold355non-performing loans to an asset reconstructioncompany (ARC) vide agreement dated 28 December, 2018. Pursuant to this agreement, the Company hasassignedallitsrights,title,interest,underlyingcollateralandsecurityinterestinrespectoftheseloanstotheARC.Theamountoutstandingonloansof`7,692.17lakhs(includingaccruedinterestof`1,367.83lakhs)wassoldforaconsiderationof 3,776.00lakhs.Theresultinglossof 3,916.17lakhsisrecognisedandpresentedonthefaceofthestatementofPro�it&Loss.Thistransactionhasalsoresultedinreleaseinprovisionscarriedoutsuchaccounts,effectofwhichhasbeengiveninthePro�it&Lossaccount.

ThismatterisdeterminedtobeaKeyAuditMatterbecauseofitbeingaoneofftransactionandbyitsverynatureandmagnitudeascomparedtothetotalexpenseexcludingthisamount.

This Key AuditMatterwas discussedwith themanagement and those chargedwith governance.We havereviewedtheagreemententeredintobytheCompany,theminutesoftheBanking&FinanceCommitteemeetingdated24December,2018authorisingtheCompanyforthistransactionandextractsofthebankstatementsre�lectingreceiptofconsideration.Theresultofourveri�icationwassatisfactory.

OtherMatter

The comparative �inancial information of the Company for the preceding year endedMarch 31, 2018 and thetransitiondateopeningbalancesheetasatApril01,2017includedintheseStandalone FinancialStatements,are

basedonthepreviouslyissuedstatutory�inancialstatementspreparedinaccordancewiththeAccountingStandardsSpeci�iedunderSection133oftheActreadwithrelevantrulesissuedthereunderandotheraccountingprinciplesgenerallyacceptedinIndia,auditedbyusinourreportsfortheyearendedMarch31,2018andMarch31,2017datedApril 20, 2018 and dated April 22, 2017 respectively. Our reports expressed an unmodi�ied opinion on thoseStandalone Financial Statements. These �inancial statements are adjusted for the differences in the accountingprinciples adopted by the Company on transition to the Ind AS, which have been audited by us.Ouropinionisnotmodi�iedinrespectofthismatter.

Responsibilities of Management and Those Charged with Governance for the Standalone FinancialStatements

TheCompany'sBoardofDirectorsisresponsibleforthemattersstatedinsection134(5)oftheAct,withrespecttothepreparationoftheseStandaloneFinancialStatementsthatgiveatrueandfairviewofthe�inancialposition,�inancialperformanceincludingOtherComprehensiveIncome,changesinequityandcash�lowsoftheCompanyinaccordancewiththeaccountingprinciplesgenerallyacceptedinIndia,includingIndASspeci�iedundersection133oftheActreadwithrelevantRulesissuedthereunder.ThisresponsibilityalsoincludesmaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheActforsafeguardingoftheassetsoftheCompanyandforpreventinganddetectingfraudsandotherirregularities;selectionandapplicationofappropriateimplementationandmaintenanceofaccountingpolicies;makingjudgmentsandestimatesthatarereasonableandprudent;anddesign,implementationandmaintenanceofadequateinternal�inancialcontrols,thatwereoperatingeffectivelyforensuringtheaccuracyandcompletenessoftheaccountingrecords,relevanttothepreparationandpresentationoftheStandaloneFinancialStatementthatgiveatrueandfairviewandarefreefrommaterialmisstatement,whetherduetofraudorerror.

InpreparingtheStandaloneFinancialStatements,managementisresponsibleforassessingtheCompany'sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcern


basisofaccountingunlessmanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.

ThoseBoardofDirectorsarealsoresponsibleforoverseeingthecompany's�inancialreportingprocess.

Auditor'sResponsibilityfortheAuditoftheFinancialStatements

OurobjectivesaretoobtainreasonableassuranceaboutwhethertheStandaloneFinancialStatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor'sreportthatincludesouropinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted inaccordancewithSAswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoin�luencetheeconomicdecisionsofuserstakenonthebasisoftheseStandaloneFinancialStatements.

AspartofanauditinaccordancewithSAs,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:

a. IdentifyandassesstherisksofmaterialmisstatementoftheStandaloneFinancialStatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissuf�icientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.

b. Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.Undersection143(3)oftheCompaniesAct,2013,wearealsoresponsibleforexpressingouropiniononwhetherthecompanyhasadequateinternal�inancialcontrolssysteminplaceandtheoperatingeffectivenessofsuchcontrols.

c. Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebymanagement.

d. Concludeontheappropriatenessofmanagement'suseofthegoingconcernbasisofaccountingandbasedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsigni�icant doubt on the Company's ability to continue as a going concern. If we conclude that amaterialuncertaintyexists,wearerequiredtodrawattentioninourauditor'sreporttotherelateddisclosuresintheStandaloneFinancialStatementsorifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedon theaudit evidenceobtainedup to thedateofourauditor's report.However, futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.

e. Evaluatetheoverallpresentation,structureandcontentoftheStandaloneFinancialStatements,includingthedisclosures,andwhethertheStandaloneFinancialStatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.

Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsigni�icantaudit�indings,includinganysigni�icantde�icienciesininternalcontrolthatweidentifyduringouraudit.

Wealsoprovide those chargedwith governancewith a statement thatwehave compliedwith relevant ethicalrequirementsregardingindependence,andtocommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.

ReportonOtherLegalandRegulatoryRequirements

AsrequiredbytheCompanies(Auditor'sReport)Order,2016(“theOrder”),issuedbytheCentralGovernmentofIndiaintermsofsub-section(11)ofsection143oftheCompaniesAct,2013,wegiveintheAnnexure“A”astatementonthemattersspeci�iedinparagraphs3and4oftheOrder,totheextentapplicable.

AsrequiredbySection143(3)oftheAct,wereportthat:

a. Wehavesoughtandobtainedalltheinformationandexplanationswhichtothebestofourknowledgeandbeliefwerenecessaryforthepurposesofouraudit;

b. Inouropinion,properbooksofaccountasrequiredbylawhavebeenkeptbytheCompanysofarasitappearsfromourexaminationofthosebooks;

c. TheBalanceSheet,theStatementofPro�itandLoss,theStatementofChangesinEquity,andtheCashFlowStatementdealtwithbythisReportareinagreementwiththebooksofaccount;


d. Inouropinion,theaforesaidStandaloneFinancialStatementscomplywiththeIndianAccountingStandardsspeci�iedunderSection133oftheAct,readwiththerelevantRulesmadethereunder;

e. Onthebasisofthewrittenrepresentationsreceivedfromthedirectorsason31March,2019takenonrecordbytheBoardofDirectors,noneofthedirectorsaredisquali�iedason31March,2019frombeingappointedasadirectorintermsofSection164(2)oftheAct;

f. Withrespecttotheadequacyoftheinternal�inancialcontrolsover�inancialreportingoftheCompanyandtheoperatingeffectivenessofsuchcontrols,refertoourseparateReportin“AnnexureB”.

g. WithrespecttotheothermatterstobeincludedintheAuditor'sReportinaccordancewiththerequirementsofsection197(16)oftheAct,inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous,theremunerationpaid/providedbytheCompanytoitsdirectorsduringtheyearisinaccordancewiththeprovisionsofsection197oftheAct;

h. Withrespect to theothermatters tobe included in theAuditor'sReport inaccordancewithRule11of theCompanies(AuditandAuditors)Rules,2014inouropinionandtothebestofourinformationandaccordingtotheexplanationsgiventous:

i. The Company has disclosed the impact of pending litigations on its �inancial position in its �inancialstatements–ReferNote40tothe�inancialstatements.

ii. TheCompanydoesnothaveanylongtermcontractsincludingderivativecontractsforwhichtherewereanymaterialforeseeablelosses.

iii. TherewerenoamountswhichwererequiredtobetransferredtotheInvestorEducationandProtectionFundbytheCompany.

ForPijushGupta&Co.CharteredAccountants

FirmRegistrationNo.309015E

SangeetaGuptaPlace:Mumbai PartnerDate:April22,2019 MembershipNo.064225


ANNEXURE'A'

Annexure referred to in paragraph heading “Report on Other Legal and Regulatory Requirements” of ourIndependentAuditor'sReportofevendate

ReportunderTheCompanies(Auditor'sReport)Order,2016

AsrequiredbytheCompanies(Auditor'sReport)Order,2016issuedbytheCentralGovernmentofIndiaintermsofsub-section (11) of section 143 of the Act, we give in this Annexure, a statement on thematters speci�ied inparagraphs3and4ofthesaidOrder.

I (a)Accordingtotheinformationandexplanationsgiventousandrecordsproducedbeforeus,theCompanyhasmaintainedproperrecordsshowingfullparticularsincludingquantitativedetailsandsituationof�ixedassets.

(b)Accordingtotheinformationandexplanationsgiventousandrecordsproducedbeforeus,the�ixedassetshavebeenphysicallyveri�iedbythemanagementatreasonableintervalsandnomaterialdiscrepancieswerenoticedonsuchphysicalveri�ication.

(c) Accordingtotheinformationandexplanationsgiventousandrecordsproducedbeforeus,thetitledeedsoftheimmovablepropertiesareheldinthenameofthecompany.

ii. TheCompanyisinthebusinessofprovidinghousing�inanceservicesandconsequentlydoesnotholdinventory.HencereportingunderClause3(ii)oftheOrderisnotapplicable.

iii. Accordingtotheinformationandexplanationsgiventous,theCompanyhasnotgrantedanyloans,securedorunsecured to Companies, Firms, Limited Liability partnerships or other parties covered in the registermaintainedunderSection189oftheActandhencereportingunderClause3(iii)oftheOrderisnotapplicable.

iv. According to the informationandexplanationsgiven tous, theCompanyhasnotgrantedany loans,madeinvestmentsorprovideguaranteescomingunderthepurviewoftheprovisionsofsection185and186oftheCompaniesAct,20l3andhencereportingunderClause3(iv)oftheOrderisnotapplicable.

v. Accordingtotheinformationandexplanationsgiventous,theCompanyhasnotaccepteddepositsfromthepublicduringtheyearandhencereportingunderClause3(v)oftheOrderisnotapplicable.

vi. According to the information and explanations given to us, the Central Government has not prescribedmaintenanceofcostrecordsunderSection148(1)oftheActinrespectoftheCompany'snatureofbusiness.

vii. (a)Accordingtotheinformationandexplanationsprovidedtousandrecordsexaminedbyus,theCompanyisregular indepositingundisputed statutorydues includingprovident fund, employees' state insurance,incometax,sales-tax,servicetax,dutyofcustoms,dutyofexcise,valueaddedtax,cessandotherstatutoryduestotheappropriateauthorities.

(b)Accordingtotheinformationandexplanationsgiventousandtherelevantdocumentsproducedbeforeus,thefollowingdisallowanceunderIncomeTaxhasbeendisputedandnotdepositedbythecompany.

viii. Basedonourauditproceduresandasper informationandexplanationsgiventous, theCompanyhasnotdefaulted in repaymentof loansorborrowings toBanksandFinancial Institutionsanddues todebentureholders.ThecompanyhasnottakenanyloanorborrowingfromtheGovernmentduringtheyear.

ix. Basedonourauditproceduresperformedandaccordingtotheinformationandexplanationsgiventous,themoneyraisedbythecompanybywayoftermloanswereappliedforthepurposesforwhichitwasraised.Thecompanyhasnotraisedmoneybywayofinitialpublicofferorfurtherpublicoffer(includingdebtsecurities).

x. AccordingtotheinformationandexplanationsgiventousandduringthecourseofexaminationofthebooksandrecordsoftheCompany,wehavenotcomeacrossanyinstanceofmaterialfraudbytheCompanyorontheCompanybyitsof�icersoremployeesnoticedorreportedduringtheyear,norhavewebeeninformedofany

Statute NatureofDues Amount Yearstowhich Forumwheredispute (`inLacs) theamountrelates ispending

IncomeTax IncomeTax 49.20 AssessmentYear CommissionerofIncome Act,1961 Demands 2016-17 Tax(Appeals),Chennai


suchcasebythemanagement.

xi. Basedonourauditproceduresandasperinformationandexplanationsgiventous,managerialremunerationpaidorprovidedduringtheyearareinaccordancewiththerequisiteapprovalsmandatedbyprovisionsofsection197readwithScheduleVandarewithinthelimitsprescribedundertheAct.

xii. InouropiniontheCompanyisnotaNidhiCompanyandhencereportingunderClause3(xii)oftheOrderisnotapplicable.

xiii. AccordingtotheinformationandexplanationsgiventousandbasedonourexaminationoftherecordsoftheCompany,alltransactionswithrelatedpartiesareincompliancewithSections177and188oftheAct,whereapplicable,anddetailsofsuch transactionshavebeendisclosed in theStandaloneFinancialStatementsasrequiredbyapplicableIndAS.(ReferNote41tothestandalone�inancialstatements)

xiv. The Company has not made any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year. Accordingly, the provisions of clause 3(xiv) of the Order are notapplicabletotheCompany.

xv. Accordingtotheinformationandexplanationsgiventous,thecompanyhasnotenteredintoanynon-cashtransactionswithdirectorsorpersonsconnectedwiththem.Accordingly,provisionsofclause3(xv)oftheOrderarenotapplicabletotheCompany.

xvi. Accordingtotheinformationandexplanationsgiventous,thecompanyisnotrequiredtoberegisteredundersection45IAoftheReserveBankofIndiaAct,1934.





ANNEXURE'B'

Annexurereferredtoinparagraph(f)underheading“ReportonOtherLegalandRegulatoryRequirements”ofourIndependentAuditor'sReportofevendate

ReportontheInternalFinancialControlsunderClause(i)ofSub-section3ofSection143oftheAct

Wehaveauditedtheinternal�inancialcontrolsover�inancialreportingofShriramHousingFinanceLimited(“TheCompany”)asofMarch31,2019inconjunctionwithourauditoftheStandaloneFinancialStatementsoftheCompanyfortheyearendedonthatdate.

Management'sResponsibilityforInternalFinancialControls

TheCompany'smanagementisresponsibleforestablishingandmaintaininginternal�inancialcontrolsbasedontheinternalcontrolover�inancialreportingcriteriaestablishedbytheCompanyconsideringtheessentialcomponentsofinternalcontrolstatedintheGuidanceNoteonAuditofInternalFinancialControlsoverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia(“ICAI”).Theseresponsibilitiesincludethedesign,implementationandmaintenanceofadequateinternal�inancialcontrolsthatwereoperatingeffectivelyforensuringtheorderlyandef�icient conduct of its business, including adherence to company's policies, the safeguarding of its assets, thepreventionanddetectionoffraudsanderrors,theaccuracyandcompletenessoftheaccountingrecords,andthetimelypreparationofreliable�inancialinformation,asrequiredundertheAct.

Auditors'Responsibility

OurresponsibilityistoexpressanopinionontheCompany'sinternal�inancialcontrolsover�inancialreportingbasedonouraudit.WeconductedourauditinaccordancewiththeGuidanceNoteonAuditofInternalFinancialControlsOverFinancialReporting(the“GuidanceNote”)andtheStandardsonAuditing,issuedbyICAIanddeemedtobeprescribedundersection143(10)oftheAct,totheextentapplicabletoanauditofinternal�inancialcontrols,bothapplicabletoanauditof InternalFinancialControlsandbothare issuedbyICAI.ThoseStandardsandtheGuidanceNoterequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassurance about whether adequate internal �inancial controls over �inancial reporting was established andmaintainedandifsuchcontrolsoperatedeffectivelyinallmaterialrespects.

Ouraudit involvesperformingprocedures toobtainauditevidenceabout theadequacyof the internal �inancialcontrolssystemover�inancialreportingandtheiroperatingeffectiveness.Ourauditofinternal�inancialcontrolsover�inancialreportingincludedobtaininganunderstandingofinternal�inancialcontrolsover�inancialreporting,assessingtheriskthatamaterialweaknessexists,andtestingandevaluatingthedesignandoperatingeffectivenessofinternalcontrolbasedontheassessedrisk.Theproceduresselecteddependontheauditor'sjudgement,includingtheassessmentoftherisksofmaterialmisstatementofthe�inancialstatements,whetherduetofraudorerror.

Webelievethattheauditevidencewehaveobtainedissuf�icientandappropriatetoprovideabasisforourauditopinionontheCompany'sinternal�inancialcontrolssystemover�inancialreporting.

MeaningofInternalFinancialControlsOverFinancialReporting

Acompany'sinternal�inancialcontrolover�inancialreportingisaprocessdesignedtoprovidereasonableassuranceregardingthereliabilityof�inancialreportingandthepreparationof�inancialstatementsforexternalpurposesinaccordancewithgenerallyacceptedaccountingprinciples.A company's internal �inancial controlover �inancialreportingincludesthosepoliciesandproceduresthat(1)pertaintothemaintenanceofrecordsthat,inreasonabledetail, accurately and fairly re�lect the transactions and dispositions of the assets of the company; (2) providereasonableassurancethattransactionsarerecordedasnecessarytopermitpreparationof�inancialstatementsinaccordancewithgenerallyacceptedaccountingprinciples,andthatreceiptsandexpendituresofthecompanyarebeingmadeonlyinaccordancewithauthorisationsofmanagementanddirectorsofthecompany;and(3)providereasonableassuranceregardingpreventionortimelydetectionofunauthorisedacquisition,use,ordispositionofthecompany'sassetsthatcouldhaveamaterialeffectonthe�inancialstatements.


InherentLimitationsofInternalFinancialControlsOverFinancialReporting

Becauseoftheinherentlimitationsofinternal�inancialcontrolsover�inancialreporting,includingthepossibilityofcollusionorimpropermanagementoverrideofcontrols,materialmisstatementsduetoerrororfraudmayoccurandnotbedetected.Also,projectionsofanyevaluationoftheinternal�inancialcontrolsover�inancialreportingtofutureperiodsaresubjecttotheriskthattheinternal�inancialcontrolover�inancialreportingmaybecomeinadequatebecauseofchangesinconditions,orthatthedegreeofcompliancewiththepoliciesorproceduresmaydeteriorate.

Opinion

Inouropinion,theCompanyhas,inallmaterialrespects,anadequateinternal�inancialcontrolssystemover�inancialreportingandsuchinternal�inancialcontrolsover�inancialreportingwereoperatingeffectivelyasatMarch31,2019,basedontheinternalcontrolover�inancialreportingcriteriaestablishedbytheCompanyconsideringtheessentialcomponentsofinternalcontrolstatedintheGuidanceNoteonAuditofInternalFinancialControlsOverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia.





SHRIRAMHOUSINGFINANCELIMITEDCINU65929TN2010PLC078004

(`inLacs)

Asperourreportofevendate

ForPijushGupta&Co. ForandonbehalfoftheBoardofDirectorsCharteredAccountants ShriramHousingFinanceLimitedFirmRegistrationNo.:309015E

SangeetaGupta SubramanianJambunathan Y.S.ChakravartiPartner ManagingDirectorandCEO DirectorMembershipNo.:064225 DIN:00969478 DIN:00052308

KunalKarnani NikitaHule ChiefFinancialOf�icer CompanySecretary

Place:Mumbai Place:MumbaiDate:April22,2019 Date:April22,2019

BalanceSheet Notes Asat Asat Asat 31March,2019 31March,2018 01April,2017 -Opening

I ASSETS

1.Financialassets Cashandcashequivalents 6 1,447.12 536.94 491.12 BankBalanceotherthanabove 7 137.63 135.95 - Receivables 8 i) TradeReceivables - - - ii)OtherReceivables 4.07 13.44 2.99 Loans 9 1,82,164.13 1,74,638.77 1,73,039.91 Investments 10 21,855.01 9,920.82 8,919.92 OtherFinancialassets 11 352.92 355.61 3,364.56

2. Non-�inancialAssets

Currenttaxassets(net) 12 1,404.77 456.11 440.92

Deferredtaxassets(net) 35 - 327.63 785.70 InvestmentProperty 13 0.28 0.28 0.28

Property,plantandequipment 14 698.25 750.95 509.80 CapitalWorkinprogress 14 - 11.05 98.64 OtherIntangibleassets 15 330.50 129.67 3.34 OtherNon-�inancialassets 16 9,152.11 6,874.18 1,240.19

TotalAssets 2,17,546.79 1,94,151.40 1,88,897.37

II LIABILITIESANDEQUITY

1 FinancialLiabilities (I)TradePayables

(i) Totaloutstandingduesofmicro 17 - - - enterprisesandsmallenterprises (ii)Totaloutstandingduesofcreditors 1,123.03 876.19 812.41 otherthanmicroenterprisesand smallenterprises DebtSecurities 18 58,014.79 66,957.85 76,617.60 Borrowings(otherthandebtsecurity) 19 1,10,868.40 80,697.75 69,362.96 OtherFinancialliabilities 20 301.88 282.33 636.90

Non-�inancialLiabilities Provisions 21 426.91 365.23 408.73 Deferredtaxliabilities(net) 35 117.33 - - OtherNon-�inancialliabilities 22 114.08 126.05 58.92

Equity Equitysharecapital 23 21,416.00 21,416.00 21,416.00 Otherequity 24 25,164.37 23,430.00 19,583.85

TotalLiabilitiesandEquity 2,17,546.79 1,94,151.40 1,88,897.37



(`inLacs)

StatementofPro�it&Loss Notes ForYearEnded ForYearEnded 31March,2019 31March,2018

REVENUEFROMOPERATIONS(i) InterestIncome 25 28,042.26 27,275.69

(ii) DividendIncome - -

(iii) RentalIncome - -

(iv) FeesandcommissionIncome - -

(v) Netgainonfairvaluechanges 26 288.34 102.61

(vi) Netgainonderecognitionof�inancialinstrumentsunder - -amortisedcostcategory

(vii) Saleofproducts(includingExciseDuty) - -

(viii) Saleofservices - -

(ix) Others(tobespeci�ied) 27 758.02 636.78

(I) TotalRevenuefromoperations 29,088.62 28,015.08

(II) OtherIncome(tobespeci�ied) 28 38.74 50.56

(III) TotalIncome(I+II) 29,127.36 28,065.64

EXPENSES(i) FinanceCosts 29 12,863.61 11,564.17

(ii) Feesandcommissionexpense - -

(iii) Netlossonfairvaluechanges - -

(iv) Netlossonderecognitionof�inancialinstrumentsunder 30 3,916.17 - amortisedcostcategory

(v) Impairmenton�inancialinstruments 31 (1,338.38) 1,161.74

(vi) Costofmaterialsconsumed

(vii) PurchasesofStock-in-trade

(viii) ChangesinInventoriesof�inishedgoods,stock-in-trade andwork-in-progress

(ix) EmployeeBene�itsExpenses 32 5,895.66 4,256.33

(x) Depreciation,amortizationandimpairment 33 232.50 193.10

(xi) Othersexpenses(tobespeci�ied) 34 5,050.53 5,088.74

(IV) TotalExpenses(IV) 26,620.09 22,264.08

(V) Pro�it/(loss)beforeexceptionalitemsandtax(III-IV) 2,507.27 5,801.56

(VI) Exceptionalitems - -

(VII) Pro�it/(loss)beforetax(V-VI) 2,507.27 5,801.56

(VIII) TaxExpense:

(1)CurrentTax 35 519.89 1,337.56

(2)MAT 35 (519.89) -

(3)DeferredTax 35 935.08 455.21

(4)EarlierYearAdjustments 35 (92.94) 172.44

(VIII) Pro�it/(loss)fortheYear 1,665.13 3,836.35

(IX) OtherComprehensiveIncome A(i)Itemsthatwillnotbereclassi�iedtopro�itorloss - -

(ii)Incometaxrelatingtoitemsthatwillnotbe - - reclassi�iedtopro�itorloss







Subtotal(A) - -

B(i)Itemsthatwillbereclassi�iedtopro�itorloss 89.19 8.32

(ii)Incometaxrelatingtoitemsthatwillbereclassi�ied (29.77) (2.88) topro�itorloss

Subtotal(B) 59.42 5.44

OtherComprehensiveIncome(A+B) 59.42 5.44

(X) TotalComprehensiveIncomefortheperiod 1,724.55 3,841.79

(XI) Earningsperequityshare

Basic(`) 0.78 1.79

Diluted(`) 0.77 1.79


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For

Pij

ush

Gupta

&C

o.

For

an

do

nb

ehalf

ofth

eB

oard

ofD

irect

ors

CharteredAccountants

Shri

ram

Housi

ngF

inance

Lim

ited

FirmRegistrationNo.:309015E

San

geeta

Gupta

Subra

man

ianJam

bunath

an

Y.S

.Chakra

vart

iPartner

ManagingDirectorandCEO

Director

Mem

bershipNo.:064225

DIN:00969478

DIN:00052308

Kun

alK

arn

ani

Nik

itaH

ule

ChiefFinancialOf�icer

CompanySecretary

Place:M

umbai

Place:M

umbai

Date:April22,2019

Date:April22,2019



(`inLacs)

CashFlowStatement ForYearEnded ForYearEnded 31March,2019 31March,2018

A)Cash�lowfromOperatingactivities NetPro�itbeforetaxation 2,507.27 5,801.56 Adjustmentfor: UnamortizedIncome (971.98) (870.86) FairValueChanges (23.03) 0.48 UnamortizedExpenses 20.51 1.33 FinanceCostrelatedtoSCUFGuarantee 15.60 15.60 Lossonsaleofassets 1,367.83 - DeferredLeaserental 32.39 27.85 Provisions (778.25) (649.16) ESOPcompensationcost 9.87 4.35

2,180.21 4,331.15

Depreciationandamortization 193.10232.49 Provisionforsubstandard,doubtful&lossassets (1,010.25) 950.76 ContingentProvisiononStandardassets (10.16) (118.96) Baddebtswrittenoff 460.25 979.07 Lossonsaleofloanassets 2,548.34 - Provisionforleaserental 25.73 27.31 PremiumonPTCwrittenoff - 1.18 NCDprivateplacementExpenses 114.06 122.92 Interestreceived (11.73) (115.79) (Pro�it)/Lossonsaleofassets 22.52 0.54 Pro�itonsaleofinvestment (265.32) (103.09)

Operatingpro�itbeforeworkingcapitalchanges 4,286.14 6,268.19

Movementinworkingcapital: (Increase)/decreaseinShort-termloansandadvances (1,147.87) (846.52) (Increase)/decreaseinLong-termloansandadvances (7,976.64) (1,235.31) (Increase)/decreaseinothercurrentassets (2,508.95) (4,837.07) (Increase)/decreaseinothernon-currentassets 81.24 2,314.79 Increase/(decrease)incurrentliabilities (759.31) (144.39) Increase/(decrease)innon-currentliabilities - (364.47) Increase/(decrease)inprovisionforemployeebene�its 113.57 40.60

Cashgeneratedfromoperation (7,911.82) 1,195.82

DirectTaxesPaid(Netofrefund) (1,375.60) (1,525.19)

NetCash�lowfrom/(usedin)operatingactivities(A) (9,287.42) (329.37)

B) Cash�lowfrominvestingactivities Purchaseof�ixedandintangibleassets (409.73) (561.35) Proceedsfromsaleof�ixedassets 6.57 0.22

Investmentinsecurityreceipts - (2,303.10) ProceedsfromsaleofSecurityReceipts 444.66 Proceedsfromsaleofinvestments(net) (12,077.80) 4,649.55 InvestmentinPTC - (3,249.51) InvestmentinFixeddeposit (1.56) (25.00) Interestreceived(others) 11.73 115.79

NetCash�lowfrom/(usedin)investingactivities(B) (12,026.13) (1,373.40)

C) Cash�lowfrom�inancingactivities

Increase/(decrease)oflongtermborrowings 18,557.25 (19,876.47) Increase/(decrease)ofshorttermborrowings 3,675.91 21,641.93 Privateplacementexpensesfornon-convertibledebenturespaid (9.43)(16.87)

NetCash�lowfrom/(usedin)�inancingactivities(C) 22,223.73 1,748.59

Netincrease/(decrease)incashandcashequivalents(A+B+C) 910.18 45.82


Cashandcashequivalentsatthebeginningoftheyear 536.94 491.12

Cashandcashequivalentsattheendoftheyear 1,447.12 536.94

Componentofcashandcashequivalents ForYearended ForYearended 31March,2019 31March,2018

Cashonhand 2.76 3.56 Balanceswithbanks:

-CurrentAccount/CashCreditAccount 1,444.36 533.38

TotalCashandcashequivalents 1,447.12 536.94








Note1:CorporateInformation

ShriramHousingFinanceLimited(theCompany)isapubliclimitedcompanydomiciledinIndiaandisincorporatedunder the provisions of the Companies Act, 1956. The Corporate Identi�ication Number (CIN) is CINU65929TN2010PLC078004.ThecompanyreceiveditsCerti�icateofRegistrationfromNationalHousingBank(NHB)asrequiredunderSection29AoftheNationalHousingBankAct,1987,onAugust4,2011.TheCompanyisprimarilyengagedinthebusinessofprovidingloansforconstructionorpurchaseofresidentialpropertyandloansagainstproperty.

TheCompanyisasubsidiaryofShriramCityUnionFinanceLtd.

Theregisteredof�iceoftheCompanyisatNo.123,AngappaNaickenStreet,Chennai–600001.

The�inancialstatementsoftheCompanyfortheyearendedMarch31,2019wereapprovedforissueinaccordancewiththeresolutionoftheBoardofDirectorsonApril22,2019.

Note2:Basisofpreparationandpresentation

The�inancialstatementsoftheCompanyhavebeenpreparedinaccordancewithIndianAccountingStandards(IndAS)noti�iedundertheCompanies(IndianAccountingStandards)Rules,2015(asamendedfromtimetotime).These�inancialstatements,fortheyearended31March2019,arethe�irst�inancialstatementstheCompanyhaspreparedinaccordancewithIndAS.Forperiodsuptoandincludingtheyearended31March2018,theCompanypreparedits�inancialstatementsinaccordancewithAccountingStandardsnoti�iedundersection133oftheCompaniesAct2013,read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (Indian GAAP or previous GAAP).Accordingly,theCompanyhasprepared�inancialstatementswhichcomplywithIndASapplicableforperiodsendingon31March2019, togetherwith thecomparativeperioddataasatand for theyearended31March2018,asdescribedinthesummaryofsigni�icantaccountingpolicies.Inpreparingthese�inancialstatements,theCompany'sopeningbalancesheetwaspreparedasat1April2017,theCompany'sdateoftransitiontoIndAS.

The�inancialstatementshavebeenpreparedunderthehistoricalcostconvention,asmodi�iedbytheapplicationoffair valuemeasurements requiredor allowedby relevantAccounting Standards.Accountingpolicieshavebeenconsistentlyappliedtoallperiodspresented,unlessotherwisestated.

The�inancialstatementsoftheCompanyarepresentedasperScheduleIII(DivisionIII)oftheCompaniesAct,2013applicabletoNBFCs,asnoti�iedbytheMinistryofCorporateAffairs(MCA).The�inancialstatementsarepresentedinIndianRupees(INR)whichisthefunctionalcurrencyoftheCompanyandthecurrencyoftheprimaryeconomicenvironmentinwhichtheCompanyoperatesandallvaluesareroundedtothenearestlacs,exceptwhenotherwiseindicated.

Note3:Signi�icantaccountingpolicies

3.1Useofestimates,judgementsandassumptions

Thepreparationof�inancialstatementsinconformitywiththeIndASrequiresthemanagementtomakejudgments,estimatesandassumptionsthataffectthereportedamountsofrevenues,expenses,assetsandliabilitiesandtheaccompanyingdisclosureandthedisclosureofcontingentliabilities,attheendofthereportingperiod.Estimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionstoaccountingestimatesarerecognizedintheperiodinwhichtheestimatesarerevisedandfutureperiodsareaffected.

3.2Revenuefromoperations

(i) Interestandsimilarincome

a) UnderIndAS109,InterestincomeisrecognisedbyapplyingtheEffectiveInterestRate(EIR)tothegrosscarrying amount of �inancial assets other than credit-impaired assets and �inancial assets classi�ied asmeasuredatFairvaluethroughPro�itandloss(FVTPL).

TheEIRincaseofa�inancialassetiscomputed

a. Astheratethatexactlydiscountsestimatedfuturecashreceiptsthroughtheexpectedlifeofthe�inancialassettothegrosscarryingamountofa�inancialasset.

b. Byconsideringallthecontractualtermsofthe�inancialinstrumentinestimatingthecash�lows


c. Includingallfeesreceivedbetweenpartiestothecontractthatareanintegralpartoftheeffectiveinterestrate,transactioncosts,andallotherpremiumsordiscounts.

Anysubsequentchangesintheestimationofthefuturecash�lowsisrecognisedininterestincomewiththecorrespondingadjustmenttothecarryingamountoftheassets.

Interestincomeoncreditimpairedassetsisrecognisedbyapplyingtheeffectiveinterestratetothenetamount,i.e.,grosscarryingamountlessprovisionsofthe�inancialasset.

b) All other charges such as cheque return charges, additional �inance interest, etc. are recognised onrealization basis. These charges are treated to accrue on realization, due to the uncertainty of theirrealization.

(ii)DividendIncome

Dividendincomeisrecognised.

a. Whentherighttoreceivethepaymentisestablished,

b. itisprobablethattheeconomicbene�itsassociatedwiththedividendwill�lowtotheentityand

c. theamountofthedividendcanbemeasuredreliably.

(iii)Fees&CommissionIncome

Revenuefromfee-basedactivitiesarerecognizedwhentheservicesarerendered.Feesearnedfromcontractwithcustomerisrecognisedasandwhenperformanceobligationissatis�ied.Feesorcomponentsoffeesthatarelinkedtoacertainperformancearerecognisedafterful�illingthecorrespondingcriteria.

(iv)NetgainonFairvaluechanges

Anydifferencesbetweenthefairvaluesof�inancialassetsclassi�iedasfairvaluethroughthepro�itorloss(referNote26),heldbytheCompanyonthebalancesheetdateisrecognisedasanunrealisedgain/loss.Incasesthereisanetgainintheaggregate,thesameisrecognisedin“Netgainsonfairvaluechanges”underRevenuefromoperationsandifthereisanetlossthesameisdisclosedunder“Expenses”inthestatementofPro�itandLoss.

Similarly,anyrealisedgainorlossonsaleof�inancialinstrumentsmeasuredatFVTPLanddebtinstrumentsmeasuredatFairvaluethroughOtherComprehensiveIncome(“FVOCI”)isrecognisedinnetgain/lossonfairvaluechanges.

However,netgain/ lossonderecognitionof �inancial instrumentsclassi�iedasamortisedcost ispresentedseparatelyundertherespectiveheadintheStatementofPro�itandLoss.

3.3Expenses

(i) Financecosts

FinancecostsrepresentsInterestexpenserecognisedbyapplyingtheEffectiveInterestRate(EIR)tothegrosscarryingamountof�inancialliabilities.

TheEIRincaseofa�inancialliabilityiscomputed

a. Astheratethatexactlydiscountsestimatedfuturecashpaymentsthroughtheexpectedlifeofthe�inancialliabilitytothegrosscarryingamountoftheamortisedcostofa�inancialliability.

b. Byconsideringallthecontractualtermsofthe�inancialinstrumentinestimatingthecash�lows

c. Includingallfeespaidbetweenpartiestothecontractthatareanintegralpartoftheeffectiveinterestrate,transactioncosts,andallotherpremiumsordiscounts.

Anysubsequentchangesintheestimationofthefuturecash�lowsisrecognisedininterestexpenseswiththecorrespondingadjustmenttothecarryingamountoftheliability.

Interestexpenseincludesissuecoststhatareinitiallyrecognizedaspartofthecarryingvalueofthe�inancialliabilityandamortizedovertheexpectedlifeusingtheeffectiveinterestmethod.

(ii)Retirementandotheremployeebene�its

Shorttermemployeebene�it

Allemployeebene�itspayablewhollywithintwelvemonthsofrenderingtheserviceareclassi�iedasshort-termemployeebene�its.Theundiscountedamountofshort-termemployeebene�itsexpectedtobepaidinexchangefortheservicesrenderedbyemployeesisrecognisedasanexpenseduringtheperiod.Bene�itssuchassalaries,wages,etc.andtheexpectedcostofthebonus/ex-gratiaarerecognisedintheperiodinwhichtheemployeerenderstherelatedservice.


Post-employmentemployeebene�its

a) De�inedcontributionschemes

EligibleemployeesoftheCompanyareentitledtoreceivebene�itsundertheProvidentFundandEmployeesStateInsurancescheme,de�inedcontributionplansinwhichboththeemployeeandtheCompanycontributemonthly at a stipulated rate. The Company has no liability for future bene�its other than its annualcontributionandrecognisessuchcontributionsasanexpenseintheperiodinwhichemployeerenderstherelatedservice.

b) De�inedbene�itschemes

TheCompanyprovides for thegratuity, ade�inedbene�it retirementplan coveringall employees.Theplanprovides for lump sum payments to employees upon death while in employment or on separation fromemploymentafterservingforthestipulatedyearsmentionedunder'ThePaymentofGratuityAct,1972'.Thepresentvalueof theobligationundersuchde�inedbene�itplan isdeterminedbasedonactuarialvaluation,carriedoutbyanindependentactuaryateachBalanceSheetdate,usingtheProjectedUnitCreditmethod,whichrecognizes each period of service as giving rise to an additional unit of employee bene�it entitlement andmeasureseachunitseparatelytobuildupthe�inalobligation.

Theobligationismeasuredatthepresentvalueoftheestimatedfuturecash�lows.Thediscountratesusedfordeterminingthepresentvalueoftheobligationunderde�inedbene�itplanarebasedonthemarketyieldsonGovernmentSecuritiesasattheBalanceSheetdate.

Netinterestrecognizedinprofitorlossiscalculatedbyapplyingthediscountrateusedtomeasurethedefinedbenefitobligationtothenetdefinedbenefitliabilityorasset.Theactualreturnontheplanassetsaboveorbelowthe discount rate is recognized as part of re-measurement of net defined liability or asset through othercomprehensiveincome.Anactuarialvaluationinvolvesmakingvariousassumptionsthatmaydifferfromactualdevelopmentsinthefuture.Theseincludethedeterminationofthediscountrate,attritionrate,futuresalaryincreasesandmortalityrates.Duetothecomplexitiesinvolvedinthevaluationanditslong-termnature,theseliabilitiesarehighlysensitivetochangesintheseassumptions.Allassumptionsarereviewedannually.

TheCompanyfullycontributesallascertainedliabilitiestotheTrustees–ShriramHousingFinanceLimitedEmployeesGroupGratuityFundScheme.TrusteesadministercontributionsmadetothetrustandcontributionsareinvestedinaschemeofinsurancewiththeIRDAapprovedInsuranceCompanies.

Re-measurement,comprisingofactuarialgainsandlossesandthereturnonplanassets(excludingamountsincludedinnetinterestonthenetdefinedbenefitliability),arerecognizedimmediatelyinthebalancesheetwitha corresponding debit or credit to retained earnings through OCI in the period in which they occur. Re-measurementsarenotreclassifiedtoprofitandlossinsubsequentperiods.

Otherlong-termemployeebene�its

Company'sliabilitiestowardscompensatedabsencestoemployeesareaccruedonthebasisofvaluations,asattheBalanceSheetdate,carriedoutbyanindependentactuaryusingProjectedUnitCreditMethod.ActuarialgainsandlossescompriseexperienceadjustmentsandtheeffectsofchangesinactuarialassumptionsandarerecognisedimmediatelyintheStatementofPro�itandLoss.

(iii)RentExpense:

Identi�icationofLease:

Thedeterminationofwhetheranarrangementisalease,orcontainsalease,isbasedonthesubstanceofthearrangementandrequiresanassessmentofwhethertheful�ilmentofthearrangementisdependentontheuseofaspeci�icassetorassetsorwhetherthearrangementconveysarighttousetheasset.

Forarrangementsenteredintopriorto1April2017,theCompanyhasdeterminedwhetherthearrangementcontainleaseonthebasisoffactsandcircumstancesexistingonthedateoftransition.

CompanyasaLessee:

LeasesthatdonottransfertotheCompany,substantiallyalloftherisksandbene�itsincidentaltoownershipoftheleaseditemsareoperatingleases.

Rentexpensesrepresentingoperatingleasepaymentsarerecognisedasanexpenseinthestatementofpro�itandlossonastraight-linebasisovertheleaseterm,unlesstheincreaseisinlinewithexpectedgeneralin�lation,inwhichcaseleasepaymentsarerecognisedbasedoncontractualterms.


(iv)Impairmentofnon-�inancialassets

Thecarryingamountofassetsisreviewedateachbalancesheetdateifthereisanyindicationofimpairmentbasedoninternal/externalfactors.Animpairmentlossisrecognizedwhereverthecarryingamountofanassetexceedsitsrecoverableamount.Therecoverableamountisthegreateroftheassets,netsellingpriceandvalueinuse.Inassessingvalueinuse,theestimatedfuturecashflowdiscountedtotheirpresentvalueusingapre-taxdiscountratethatreflectscurrentmarketassessmentsofthetimevalueofmoneyandrisksspeci�ictotheasset.

In determining net selling price, recentmarket transactions are taken into account, if available. If no suchtransactions can be identified, an appropriate valuation model is used. After impairment, depreciation isprovidedontherevisedcarryingamountoftheassetoveritsremainingusefullife.

(v)ExpenditureonCorporateSocialResponsibility(CSR)

TheCompanyaccountstheexpenditureincurredtowardsCorporateSocialResponsibilityasrequiredundertheActasachargetothestatementofpro�itandloss.

(vi)RatingExpenses

Thecompanyevaluateswhetherratingfeeisdirectlyattributableandincrementaltoeachborrowing/NCD.Ifsuchfeesaredirectlyattributabletotheacquisitionoftheborrowing,thensameisconsideredforEIR.Ifsuchfeesarenotdirectlyattributabletotheacquisitionoftheborrowing,thenthesameischargedtoPro�itandLossproportionatelyasandwhentheborrowingfacilityisavailed.

(vii)MortgageGuaranteeFeenotwrittenoff

MortgageGuaranteefeeistheguaranteefeepaidtoaMortgageInsuranceforriskmitigationwhenanyloanbecomesNPA.TheCompanyhasdecidedtoamortisesuchfeeonstraightlinebasisovertheexpectedlifeofloanoractuallifeofloanwhicheverisearlier.

(viii)Otherexpenses

AllOtherexpensesarerecognizedintheperiodtheyaccrue.

(ix)Taxes

Incometaxexpensecomprisesofcurrentanddeferredincometax.Incometaxexpenseisrecognizedinnetpro�itintheStatementofPro�itandLossexcepttotheextentthatitrelatestoitemsrecognizeddirectlyinequity,inwhichcaseitisrecognizedinothercomprehensiveincome.

CurrentTax

Currenttaxassetsandliabilitiesforthecurrentandprioryearsaremeasuredattheamountexpectedtoberecoveredfrom,orpaidto,thetaxationauthorities.Thetaxratesandtaxlawsusedtocomputetheamountarethose that are enacted, or substantively enacted, by the reporting date where the Company operates andgeneratestaxableincome.

Advance taxes andprovisions for current income taxes arepresented in thebalance sheet after off-settingadvancetaxpaidandincometaxprovisionarisinginthesametaxjurisdictionandwheretherelevanttaxpayingunitintendstosettletheassetandliabilityonanetbasis.

Deferredtax

Deferredtaxassetsandliabilitiesarerecognisedfortemporarydifferencesarisingbetweenthetaxbasesofassetsandliabilitiesandtheircarryingamounts.Deferredincometaxisdeterminedusingtaxrates(andlaws)thathavebeenenactedorsubstantivelyenactedbythereportingdateandareexpectedtoapplywhentherelateddeferredincometaxassetisrealisedorthedeferredincometaxliabilityissettled.

Deferredtaxassetsareonlyrecognisedfortemporarydifferences,unusedtaxlossesandunusedtaxcreditsifitisprobablethatfuturetaxableamountswillarisetoutilisethosetemporarydifferencesandlosses.Deferredtaxassetsarereviewedateachreportingdateandarereducedtotheextentthatitisnolongerprobablethattherelatedtaxbene�itwillberealised.

Deferredtaxassetsandliabilitiesareoffsetwherethereisalegallyenforceablerighttooffsetcurrenttaxassetsandliabilitiesandtheyrelatetoincometaxesleviedbythesametaxauthorityonthesametaxableentity,buttheyintendtosettlecurrenttaxliabilitiesandassetsonanetbasisortheirtaxassetsandliabilitiesarerealisedsimultaneously.


MinimumAlternateTax(MAT)

DeferredtaxassetsincludeMinimumAlternativeTax(MAT)paidinaccordancewiththetaxlawsinIndia,whichislikelytogivefutureeconomicbene�itsintheformofavailabilityofsetoffagainstfutureincometaxliability.Accordingly,MATcreditisrecognisedasdeferredtaxassetinthebalancesheetwhentheassetcanbemeasuredreliably, and it is probable that the future economic bene�it associatedwith the assetwill be realised. TheCompanyreviewstheMATCreditEntitlementassetateachreportingdateandwritesdowntheassettotheextenttheCompanydoesnothaveconvincingevidencethatitwillpaynormaltaxduringthespecifiedperiod.

3.4Property,plantandequipment

Anitemisrecognisedasanasset,ifandonlyif,itisprobablethatthefutureeconomicbene�itsassociatedwiththeitemwill�lowtotheCompanyanditscostcanbemeasuredreliably.PPEareinitiallyrecognisedatcost.TheinitialcostofProperty,plantandequipment(PPE)comprisesitspurchaseprice,freight,duties,taxesandanyotherincidentalexpensesdirectlyattributabletobringingtheassettothelocationandconditionnecessaryforittobecapableofoperatinginthemannerintendedbythemanagement.Subsequenttoinitialrecognition,Property,plantandequipment(PPE)aremeasuredatcostlessaccumulateddepreciationandaccumulatedimpairment,(ifany).Changesintheexpectedusefullifeareaccountedforbychangingtheamortisationperiodormethodology,asappropriate,andtreatedaschangesinaccountingestimates.

Subsequentexpenditurerelatedtoanitemoftangibleassetareaddedtoitsgrossvalueonlyifitincreasesthefuturebene�itsoftheexistingasset,beyonditspreviouslyassessedstandardsofperformanceandcostcanbemeasuredreliably.Otherrepairsandmaintenancecostsareexpensedoffasandwhenincurred.

Depreciation

Depreciationiscalculatedusingthestraight–linemethodtowritedownthecostofpropertyandequipmenttotheirresidualvaluesovertheirestimatedusefullivesestimatedbythemanagement.

Theestimatedusefullivesareasfollows:

Leaseholdimprovementsareamortisedonastraight-linebasisovertheperiodofleaseorestimatedperiodofusefullifeofsuchimprovement,subjecttoamaximumperiodof60months.Leaseholdimprovementsincludeallexpenditureincurredontheleaseholdpremisesthathavefutureeconomicbene�its.

Theresidualvalues,usefullivesandmethodsofdepreciationofproperty,plantandequipmentarereviewedannually.

Property,plantandequipmentisderecognisedondisposalorwhennofutureeconomicbene�itsareexpectedfromitsuse.Anygainorlossarisingonderecognitionoftheasset(calculatedasthedifferencebetweenthenetdisposalproceedsandthecarryingamountoftheasset)isrecognisedinotherincome/expenseinthestatementofpro�itandlossintheyeartheassetisderecognised.Thedateofdisposalofanitemofproperty,plantandequipment is the date the recipient obtains control of that item in accordance with the requirements fordeterminingwhenaperformanceobligationissatis�iedinIndAS115.

3.5Intangibleassets

Anintangibleassetisrecognisedonlywhenitscostcanbemeasuredreliablyanditisprobablethattheexpectedfutureeconomicbene�itsthatareattributabletoitwill�lowtotheCompany.

Intangibleassetsacquiredseparatelyaremeasuredoninitialrecognitionatcost.Thecostofanintangibleassetcomprisesitspurchasepriceandanydirectlyattributableexpenditureonmakingtheassetreadyforitsintendeduseandnetofanytradediscountsandrebates.Followinginitialrecognition,intangibleassetsarecarriedatcostlessanyaccumulatedamortisationandanyaccumulatedimpairmentlosses.

TheCompanyconsidersthat theuseful lifeofan intangibleassetcomprisingofcomputersoftwarewillnotexceed5years from thedatewhen theasset isavailable foruse.Changes in theexpecteduseful life,or theexpected pattern of consumption of future economic bene�its embodied in the asset, are accounted for by

Particulars UsefulLifeEstimatedbyCompany

Electricalinstallationandequipment 10years

Furnitureand�ixture 10years

Of�iceequipment 5years

Computer 5years


changing the amortisation period or methodology, as appropriate, which are then treated as changes inaccountingestimates.

Amortisationiscalculatedusingthestraight–linemethodtowritedownthecostofintangibleassetstotheirresidual values over their estimated useful lives.Amortisation on assets acquired/sold during the year isrecognisedonapro-ratabasistotheStatementofPro�itandLossfrom/uptothedateofacquisition/sale.

GainsorlossesfromderecognitionofintangibleassetsaremeasuredasthedifferencebetweenthenetdisposalproceedsandthecarryingamountoftheassetarerecognisedintheStatementofPro�itandLosswhentheassetisderecognised.

3.6 InvestmentProperty

Investmentpropertyconsistsofvacant land. Investmentpropertiesaremeasured initiallyat cost includingtransactioncosts.Investmentpropertybeinglandisnotdepreciated.

Investmentpropertiesarederecognisedeitherwhentheyhavebeendisposedoforwhentheyarepermanentlywithdrawnfromuseandnofutureeconomicbene�itisexpectedfromtheirdisposal.Thedifferencebetweenthenet disposal proceeds and the carrying amount of the asset is recognised in pro�it orloss in the period ofderecognition.

3.7Foreigncurrencytranslation

(i) Functionalandpresentationalcurrency

Thestandalone�inancialstatementsarepresentedinIndianRupeeswhichisalsofunctionalcurrencyoftheCompanyandthecurrencyoftheprimaryeconomicenvironmentinwhichtheCompanyoperates.

(ii)Transactionsandbalances

Initialrecognition:

Foreigncurrencytransactionsaretranslatedintothefunctionalcurrencyusingtheexchangeratesprevailingatthedatesofthetransactions.

Conversion:

Monetaryassetsandliabilitiesdenominatedinforeigncurrency,whichareoutstandingasatthereportingdate,are translatedat thereportingdateat theclosingexchangerateandtheresultantexchangedifferencesarerecognisedintheStatementofPro�itandLoss.

Non–monetaryitemsthataremeasuredathistoricalcostinaforeigncurrencyaretranslatedusingthespotexchangeratesasatthedateofrecognition.

3.8Assetsheldforsale:

Assetsheldforsalecomprisesofhouseproperties,whichwereheldascollateralsagainsttheloansgiventocustomer,whosephysicalandlegalpossessinghasbeentakenoverbythecompanyduetocustomers'defaultonrepaymentoftheloan.Managementintendstosellthesepropertiesforwhichregularauctionsareconducted.

Suchassetsareclassi�iedasheldforsalewhentheircarryingamountisintendedtoberecoveredprincipallythroughsaleratherthanthroughcontinueduse.

Atthetimeofinitialclassi�icationasassetsheldforsale,theseassetsaremeasuredatthelowerofcarryingamountandfairvaluelesscosttosell.Thefairvalueoftheassetsisdeterminedbyanindependentvaluer.Theseassetsarecarriedatthefairvaluedeterminedoninitialrecognition,unlessthereareindicatorsofsigni�icantchangesinrealestatemarketconditionrequiringarevisedvaluation.

Assetsheldforsalearenotdepreciatedwhiletheyareheldforsale.Assetswhichareunsoldwithinaperiodof3yearsfromthedateofrecognitionasassetsheldforsale,thecarryingvalueofsuchassetsiswrittenoff.

3.9Cashandcashequivalents

Cashandcashequivalentscomprisetheshort-term,highlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcash(short-termdepositswithanoriginalmaturityofthreemonthsorless)andaresubjecttoaninsigni�icantriskofchangeinvalue,chequesonhandandbalanceswithbanks.Theyareheldforthepurposesofmeetingshort-termcashcommitments(ratherthanforinvestmentorotherpurposes).

Forthepurposeofthestatementofcash�lows,cashandcashequivalentsconsistofcashandshort-termdeposits,asde�inedabove.


3.10 CashFlowStatement

Cash �lows are reported using the indirectmethod,whereby pro�it before tax is adjusted for the effectsoftransactionsofanon-cashnature,anydeferralsoraccrualsofpastorfutureoperatingcashreceiptsorpaymentsanditemofincomeorexpensesassociatedwithinvestingor�inancingcash�lows.Thecash�lowsfromoperating,investingand�inancingactivitiesoftheCompanyaresegregated.

3.11 Financialinstruments

A�inancialinstrumentisanycontractthatgivesrisetoa�inancialassetofoneentityanda�inancialliabilityorequity instrumentofanotherentity.Financialassetsand�inancial liabilitiesarerecognisedwhentheEntitybecomesapartytothecontractualprovisionsoftheinstruments.

3.11.1FinancialAssets

Initial Recognition – Financial assets are recognised at fair value. In case of �inancial assets which arerecognisedatfairvaluethroughpro�itandloss(FVTPL),itstransactioncostsarerecognisedinthestatementofpro�itandloss.Inothercases,thetransactioncostsareattributedtotheacquisitionvalueofthe�inancialasset.

Subsequentmeasurement

Forthepurposeofsubsequentmeasurement,�inancialassetsareclassi�iedinfourcategories:

1. Financialassetstobemeasuredatamortisedcost

2. Financialassetstobemeasuredatfairvaluethroughothercomprehensiveincome(FVOCI)

3. Financialassetstobemeasuredatfairvaluethroughpro�itorlossaccount(FVTPL)

Financialassetsmeasuredatamortisedcost

Debtinstruments

Debtinstrumentsaremeasuredatamortisedcostwheretheyhave:

a) Contractualtermsthatgiverisetocash�lowsonspeci�ieddates,thatrepresentsolelypaymentsofprincipalandinterestontheprincipalamountoutstanding;and

b) Areheldwithinabusinessmodelwhoseobjectiveisachievedbyholdingtocollectcontractualcash�lows.

Thesedebt instrumentsare initiallyrecognisedat fairvalueplusdirectlyattributabletransactioncostsandsubsequentlymeasuredatamortisedcostusingtheeffectiveinterestrate(EIR)method.

AmortisedcostiscalculatedbytakingintoaccountanydiscountorpremiumonacquisitionandfeesorcoststhatareanintegralpartoftheEIR.TheEIRamortisationisincludedinInterestincomeinthepro�itorloss.ThelossesarisingfromimpairmentarerecognisedintheStatementofPro�itandLoss.

Themeasurementofcreditimpairmentisbasedonthethree-stageexpectedcreditlossmodeldescribedbelowinNote3.14Impairmentof�inancialassets.

Financialassetsmeasuredatfairvaluethroughothercomprehensiveincome

Debtinstruments

Investmentsindebtinstrumentsaremeasuredatfairvaluethroughothercomprehensiveincomewheretheyhave:

a) Contractualtermsthatgiverisetocash�lowsonspeci�ieddates,thatrepresentsolelypaymentsofprincipalandinterestontheprincipalamountoutstanding;and

b) Areheldwithinabusinessmodelwhoseobjectiveisachievedbybothcollectingcontractualcash�lowsandselling�inancialassets.

These debt instruments are initially recognised at fair value plus directly attributable transaction costs andsubsequentlymeasured at fair value. Gains and losses arising from changes in fair value are included in othercomprehensiveincomewithinaseparatecomponentofequity.Impairmentlossesorreversals,interestrevenueandare recognised in pro�it and loss. Upon disposal, the cumulative gain or loss previously recognised in othercomprehensiveincomeisreclassi�iedfromequitytothestatementofpro�itandloss.Themeasurementofcreditimpairmentisbasedonthethree-stageexpectedcreditlossmodelasappliedto�inancialassetsatamortisedcost.


TheexpectedcreditlossmodelisdescribedbelowinNote3.14Impairmentof�inancialassets.

Equityinstruments

InvestmentinequityinstrumentsthatareneitherheldfortradingnorcontingentconsiderationrecognisedbytheCompanyinabusinesscombinationtowhichIndAS103'BusinessCombination'applies,aremeasuredatfairvaluethroughothercomprehensiveincome,whereanirrevocableelectioncanbemadebymanagementandwhensuchinstrumentsmeetthede�initionofEquityunderIndAS32FinancialInstruments:Presentation.Suchclassi�icationisdeterminedonaninstrument-by-instrumentbasis.Asatreportingdate,therearenoequityinstrumentsmeasuredatFVOCI.

Amountspresentedinothercomprehensiveincomearenotsubsequentlytransferredtopro�itorloss.Dividendsonsuchinvestmentsarerecognisedinpro�itorloss.

Financialassetsmeasuredatfairvaluethroughpro�itorloss

•Itemsatfairvaluethroughpro�itorlosscomprise:

•Investments(includingequityshares)heldfortrading;

•Itemsspeci�icallydesignatedasfairvaluethroughpro�itorlossoninitialrecognition;and

•Debtinstrumentswithcontractualtermsthatdonotrepresentsolelypaymentsofprincipalandinterest.

Financial instruments held at fair value through pro�it or loss are initially recognised at fair value, withtransactioncostsrecognisedinthestatementofpro�itandlossasincurred.Subsequently,theyaremeasuredatfairvalueandanygainsorlossesarerecognisedinthestatementofpro�itandlossastheyarise.

Financialinstrumentsheldfortrading

A �inancial instrument is classi�iedasheld for trading if it is acquiredor incurredprincipally for sellingorrepurchasinginthenearterm,orformspartofaportfolioof�inancialinstrumentsthataremanagedtogetherandforwhichthereisevidenceofshort-termpro�ittaking,oritisaderivativenotinaqualifyinghedgerelationship.Tradingderivativesandtradingsecuritiesareclassi�iedasheldfortradingandrecognisedatfairvalue.

Financialinstrumentsdesignatedasmeasuredatfairvaluethroughpro�itorloss

Uponinitialrecognition,�inancialinstrumentsmaybedesignatedasmeasuredatfairvaluethroughpro�itorloss.A�inancialassetmayonlybedesignatedatfairvaluethroughpro�itorlossifdoingsoeliminatesorsigni�icantlyreduces measurement or recognition inconsistencies (i.e. eliminates an accounting mismatch) that wouldotherwisearisefrommeasuring�inancialassetsorliabilitiesonadifferentbasis.

A�inancialliabilitymaybedesignatedatfairvaluethroughpro�itorlossifiteliminatesorsigni�icantlyreducesanaccountingmismatchor:

•Ifahostcontractcontainsoneormoreembeddedderivatives;or

•If�inancialassetsandliabilitiesarebothmanagedandtheirperformanceevaluatedonafairvaluebasisinaccordancewithadocumentedriskmanagementorinvestmentstrategy.

Where a �inancial liability is designated at fair value through pro�it or loss, the movement in fair valueattributabletochangesintheCompany'sowncreditqualityiscalculatedbydeterminingthechangesincreditspreadsaboveobservablemarketinterestratesandispresentedseparatelyinothercomprehensiveincome.Asat thereportingdate, theCompanyhasnotdesignatedany �inancial instrumentsasmeasuredat fairvaluethroughpro�itorloss.

3.11.2FinancialLiabilities

InitialMeasurement

Financialliabilitiesareclassi�iedandmeasuredatamortizedcost.All�inancialliabilitiesarerecognizedinitiallyatfairvalueand,inthecaseofloansandborrowingsandpayables,netofdirectlyattributabletransactioncosts.Thecompany's�inancialliabilitiesincludeloansandborrowingsandotherpayables.

SubsequentMeasurement

Financialliabilitiesaresubsequentlycarriedatamortizedcostusingtheeffectiveinterestmethod.


3.11.3EmbeddedDerivatives

Anembeddedderivativeisacomponentofahybridinstrumentthatalsoincludesanon-derivativehostcontractwiththeeffectthatsomeofthecash�lowsofthecombinedinstrumentvaryinawaysimilartoastand-alonederivative.

Ifthehybridcontractcontainsahostthatisa�inancialassetwithinthescopeofIndAS109,theCompanydoesnotseparateembeddedderivatives.Rather,itappliestheclassi�icationrequirementscontainedinIndAS109totheentirehybridcontract.

3.12Reclassi�icationof�inancialassetsandliabilities

TheCompanydoesnotreclassifyits�inancialassetssubsequenttotheirinitialrecognition.Financialliabilitiesareneverreclassi�ied.TheCompanydidnotreclassifyanyofits�inancialassetsorliabilitiesin�inancialyear2017-18anduntiltheyearendedMarch31,2019.

3.13Determinationoffairvalue

Fairvalueisthepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityinanorderlytransactionbetweenmarketparticipantsatthemeasurementdate.Thefairvaluemeasurementisbasedonthepresumptionthatthetransactiontoselltheassetortransfertheliabilitytakesplaceeither:

i) Intheprincipalmarketfortheassetorliability,or

ii) Intheabsenceofaprincipalmarket,inthemostadvantageousmarketfortheassetorliability

TheprincipalorthemostadvantageousmarketmustbeaccessiblebytheCompany.

Thefairvalueofanassetoraliabilityismeasuredusingtheassumptionsthatmarketparticipantswouldusewhenpricingtheassetorliability,assumingthatmarketparticipantsactintheireconomicbestinterest.

Afairvaluemeasurementofanon-�inancialassettakesintoaccountamarketparticipant'sabilitytogenerateeconomicbene�itsbyusingtheassetinitshighestandbestuseorbysellingittoanothermarketparticipantthatwouldusetheassetinitshighestandbestuse.

TheCompanyusesvaluationtechniquesthatareappropriateinthecircumstancesandforwhichsuf�icientdataareavailabletomeasurefairvalue,maximisingtheuseofrelevantobservableinputsandminimisingtheuseofunobservableinputs.

Inordertoshowhowfairvalueshavebeenderived,�inancialinstrumentsareclassi�iedbasedonahierarchyofvaluationtechniques,assummarisedbelow:

Level1�inancialinstruments-ThosewheretheinputsusedinthevaluationasunadjustedquotedpricesfromactivemarketsforidenticalassetsorliabilitiesthattheCompanyhasaccesstoatthemeasurementdate.TheCompanyconsidersmarketsasactiveonlyiftherearesuf�icienttradingactivitieswithregardstothevolumeandliquidityoftheidenticalassetsorliabilitiesandwhentherearebindingandexercisablepricequotesavailableonthebalancesheetdate.

Level2�inancialinstruments-Thosewheretheinputsthatareusedforvaluationandaresigni�icant,arederivedfromdirectlyorindirectlyobservablemarketdataavailableovertheentireperiodoftheinstrument'slife.Suchinputsincludequotedpricesforsimilarassetsorliabilitiesinactivemarkets,quotedpricesforidenticalinstrumentsininactivemarketsandobservableinputsotherthanquotedpricessuchasinterestratesandyieldcurves,impliedvolatilities,andcreditspreads.Inaddition,adjustmentsmayberequiredfortheconditionorlocationoftheassetortheextenttowhichitrelatestoitemsthatarecomparabletothevaluedinstrument.However,ifsuchadjustmentsarebasedonunobservableinputswhicharesigni�icanttotheentiremeasurement,theCompanywillclassifytheinstrumentsasLevel3.

Level3�inancialinstruments-Thosethatincludeoneormoreunobservableinputsthosearesignificanttothemeasurementaswhole.

3.14Impairmentof�inancialassets

OverviewoftheECLprinciples

TheCompanyrecordsallowanceforexpectedcreditlossesfordebt�inancialassetsnotheldatFVTPL,inthissectionallreferredtoas'�inancialinstruments'.EquityinstrumentsarenotsubjecttoimpairmentunderIndAS109.

TheECLallowanceisbasedonthecreditlossesexpectedtoariseoverthelifeoftheasset(thelifetimeexpectedcredit loss),unlesstherehasbeennosigni�icant increase increditrisksinceorigination, inwhichcase, theallowanceisbasedonthe12months'expectedcreditloss.


LifetimeECLaretheexpectedcreditlossesresultingfromallpossibledefaulteventsovertheexpectedlifeofa�inancialinstrument.The12-monthECListheportionofLifetimeECLthatrepresenttheECLsthatresultfromdefaulteventsona�inancialinstrumentthatarepossiblewithinthe12monthsafterthereportingdate.

Both Lifetime ECLs and 12-month ECLs are calculated on either an individual basis or a collective basis,dependingonthenatureoftheunderlyingportfolioof�inancialinstruments.

TheCompanyhasestablishedapolicytoperformanassessment,attheendofeachreportingperiod,ofwhethera�inancialinstrument'screditriskhasincreasedsigni�icantlysinceinitialrecognition,byconsideringthechangein the risk of default occurring over the remaining life of the �inancial instrument. The Companydoes theassessmentofsigni�icantincreaseincreditriskataborrowerlevel.Ifaborrowerhasvariousfacilitieshavingdifferentpastduestatus,thenthehighestdayspastdue(DPD)isconsideredtobeapplicableforallthefacilitiesofthatborrower.

Basedontheabove,theCompanycategorisesitsloansintoStage1,Stage2andStage3asdescribedbelow:

Stage1:12-monthsECL

Allexposureswheretherehasnotbeenasigni�icantincreaseincreditrisksinceinitialrecognitionorthathaslowcreditriskatthereportingdateandthatarenotcreditimpaireduponoriginationareclassi�iedunderthisstage.Thecompanyclassi�iesallloanadvancesupto30daysdefaultunderthiscategory.Stage1loanadvancesalsoincludefacilitieswherethecreditriskhasimproved,andtheloanhasbeenreclassi�iedfromStage2.Fortheseassets,12-monthECLarerecognizedandinterestrevenueiscalculatedonthegrosscarryingamountoftheasset.

ForInvestmentsmeasuredatFVOCI–“Theinvestmentisclassi�iedasaStage1incasethereisnochangeinthecreditratingorachangeofonenotchdownwardinthecreditrating.

Stage2:LifetimeECL–notcreditimpaired

Allexposureswheretherehasbeenasigni�icantincreaseincreditrisksinceinitialrecognitionbutarenotcreditimpairedareclassi�iedunderthisstage.Morethan30DaysPastDueisconsideredassigni�icantincreaseincreditrisk.Fortheseassets,lifetimeECLarerecognized,butinterestrevenueisstillcalculatedonthegrosscarryingamountoftheasset.

ForInvestmentsmeasuredatFVOCI–Incasethereisadowngradeincreditratingbytwoormorenotches,theinvestmentistakenasatStage2andlifetimePDisapplied.

Stage3:LifetimeECL–creditimpaired

Allexposuresassessedascreditimpairedwhenoneormoreeventsthathaveadetrimentalimpactontheestimatedfuturecash�lowsof thatassethaveoccurredareclassi�ied inthisstage.Forexposuresthathavebecomecreditimpaired,alifetimeECLisrecognisedandinterestrevenueiscalculatedbyapplyingtheeffectiveinterestratetotheamortisedcost(netofprovision)ratherthanthegrosscarryingamount.90DaysPastDueisconsideredasdefaultforclassifyinga�inancialinstrumentascreditimpaired.

ForInvestmentsmeasuredatFVOCI–AnyinvestmentwhichisnonperformingorindefaultorrestructuredistakentobeasatStage3.

Credit-impaired�inancialassets:

Ateachreportingdate,thecompanyassesseswhether�inancialassetscarriedatamortisedcostanddebt�inancialassetscarriedatFVOCIarecredit-impaired.A�inancialassetis'credit-impaired'whenoneormoreeventsthathaveadetrimentalimpactontheestimatedfuturecash�lowsofthe�inancialassethaveoccurred.

Evidencethata�inancialassetiscredit-impairedincludesthefollowingobservabledata:

a) Signi�icant�inancialdif�icultyoftheborrowerorissuer;

b) Abreachofcontractsuchasadefaultorpastdueevent;

c) Therestructuringofaloanoradvancebythecompanyontermsthatthecompanywouldnotconsiderotherwise;

d) Itisbecomingprobablethattheborrowerwillenterbankruptcyorother�inancialreorganisation;

e) Thedisappearanceofanactivemarketforasecuritybecauseof�inancialdif�iculties.

ECLsare recognisedas impairmenton �inancial instruments inpro�it and loss. In thecaseofdebt instrumentsmeasuredatfairvaluethroughothercomprehensiveincome,themeasurementofECLsisbasedonthethree-stage


approachasappliedto�inancialassetsatamortisedcost.

Financialguaranteecontracts

TheCompany'sliabilityunder�inancialguaranteeismeasuredatthehigheroftheamountinitiallyrecognisedlesscumulativeamortisationrecognisedinthestatementofpro�itandloss,andtheECLprovision.Forthispurpose,theCompanyestimatesECLsbyapplyingacreditconversionfactor.

Asatthereportingdate,theCompanydoesnothaveanysuchinstruments.

3.15Write-offs

TheCompanyreducesthegrosscarryingamountofa �inancialassetwhentheCompanyhasnoreasonableexpectationsofrecoveringa�inancialassetinitsentiretyoraportionthereof.ThisisgenerallythecasewhentheCompanydeterminesthattheborrowerdoesnothaveassetsorsourcesofincomethatcouldgeneratesufficientcashflows to repay theamounts subjected towrite-offs.Any subsequent recoveriesagainst such loansarecreditedtothestatementofprofitandloss.However,�inancialassetsthatarewrittenoffcouldstillbesubjecttoenforcementactivitiesinordertocomplywiththecompany'sproceduresforrecoveryofamountsdue.

3.16Recognitionandderecognitionof�inancialassetsandliabilities

Recognition:

a) LoansandAdvancesareinitiallyrecognisedwhenthefundsaretransferredtothecustomers'account.

b) Investmentsareinitiallyrecognisedonthesettlementdate.

c) DebtsecuritiesandborrowingsareinitiallyrecognisedwhenfundsreachtheCompany.

d) Other�inancialassetsandliabilitiesareinitiallyrecognisedonthetradedate,i.e.,thedatethattheCompanybecomesapartytothecontractualprovisionsoftheinstrument.Thisincludesregularwaytrades:purchasesorsalesof�inancialassetsthatrequiredeliveryofassetswithinthetimeframegenerallyestablishedbyregulationorconventioninthemarketplace.

Derecognition

a) Financialasset

TheCompanyderecognizesa�inancialassetwhenthecontractualcash�lowsfromtheassetexpireorittransfers its rights to receive contractual cash �lows from the �inancial asset in a transaction inwhichsubstantiallyalltherisksandrewardsofownershiparetransferred.Anyinterestintransferred�inancialassetsthatiscreatedorretainedbytheCompanyisrecognizedasaseparateassetorliability.

b) Financialliabilities

A �inancial liability is derecognisedwhen the obligation under the liability is discharged, cancelled orexpires.Whereanexisting�inancialliabilityisreplacedbyanotherfromthesamelenderonsubstantiallydifferent terms, or the terms of an existing liability are substantially modi�ied, such an exchange ormodi�icationistreatedasaderecognitionoftheoriginalliabilityandtherecognitionofanewliability.Thedifference between the carrying value of the original �inancial liability and the consideration paid isrecognisedinpro�itorloss.

3.17Offsetting

Financial assets and �inancial liabilities are generally reported on a gross basis except when, there is anunconditionallegallyenforceablerighttooffsettherecognisedamountsandintendstosettleonanetbasisortorealisetheassetandsettletheliabilitysimultaneouslyinallofthefollowingcircumstances:

i) Thenormalcourseofbusiness

ii) Theeventofdefault

iii) TheeventofinsolvencyorbankruptcyoftheCompanyand/oritscounterparties.

3.18Provisions

Provisionsare recognisedwhen theenterprisehasapresentobligationasa resultofpast events, and it isprobablethatanout�lowofresourcesembodyingeconomicbene�itswillberequiredtosettletheobligation,andareliableestimatecanbemadeoftheamountoftheobligation.

When the effect of the time value ofmoney ismaterial, the companydetermines the level of provision by


discountingtheexpectedcash�lowsatapre-taxratere�lectingthecurrentratesspeci�ictotheliability.Asatreportingdate,theCompanydoesnothaveanysuchprovisionwhereeffectoftimevalueofmoneyismaterial.Theexpenserelatingtoanyprovisionispresentedinthestatementofpro�itandlossnetofanyreimbursement.

3.19ContingentLiabilities

Acontingentliabilityisapossibleobligationthatarisesfrompasteventswhoseexistencewillbeconfirmedbytheoccurrenceornon-occurrenceofoneormoreuncertainfutureeventsbeyondthecontroloftheCompanyorapresentobligationthatisnotrecognizedbecauseitisnotprobablethatanoutflowofresourceswillberequiredtosettletheobligation.Acontingentliabilityalsoarisesinextremelyrarecaseswherethereisaliabilitythatcannotberecognizedbecauseitcannotbemeasuredreliably.TheCompanydoesnotrecognizeacontingentliabilitybutdisclosesitsexistenceinthefinancialstatements.Whenthereisapossibleobligationorapresentobligationinrespectofwhichlikelihoodofout�lowofresourcesembodyingeconomicbene�itsisremote,noprovisionordisclosureismade.

3.20EarningPerShare

TheCompanyreportsbasicanddilutedearningspershareinaccordancewithIndAS33onEarningspershare.BasicEPSiscalculatedbydividingthenetprofitorlossfortheyearattributabletoequityshareholdersbytheweightedaveragenumberofequitysharesoutstandingduringtheyear.

Forthepurposeofcalculatingdilutedearningspershare,thenetprofitorlossfortheyearattributabletoequityshareholdersandtheweightedaveragenumberofsharesoutstandingduringtheyearareadjustedfortheeffectsofalldilutivepotentialequityshares.Dilutivepotentialequitysharesaredeemedconvertedasofthebeginningoftheperiod,unless theyhavebeen issuedata laterdate. Incomputing thedilutiveearningspershare,onlypotentialequitysharesthataredilutiveandthateitherreducestheearningspershareorincreaseslosspershareareincluded.

3.21EmployeeStockOptionPlan

Employees of the Company receive remuneration in the form of equity settled share-based payments inconsiderationoftheservicesrendered.

The Company recognizes compensation expense relating to share-based payments as employee bene�itexpenses'withacorrespondingincreaseinequity,overthevestingperiod,usingthegrantdatefair-valueoftheoptioninaccordancewithIndAS102,Share-basedPayments.ThegrantdatefairvalueoftheoptionsiscalculatedusingtheBlackScholesmodel.

Theestimatedfairvalueoftheawardsischargedtoincomeonastraight-linebasisovertherequisiteserviceperiodforeachseparatelyvestingportionoftheawardasiftheawardwasinsubstance,multipleawardswithacorrespondingincreasetoshareoptionsoutstandingaccount.Attheendofeachreportingperiod,theexpenseisreviewedandadjustedtore�lectchangestothelevelofoptionsexpectedtovest.Whentheoptionsareexercised,theCompanyissuesfreshequityshares.

Note4:Firsttimeadoption

ThisnoteexplainstheprincipaladjustmentsmadebytheCompanyinrestatingitsIndianGAAP�inancialstatements,includingthebalancesheetasat1April,2017andthe�inancialstatementsasatandfortheyearended31March,2018.

Optionalexemptions

IndAS101permits�irst-timeadopters'certainexemptionsfromretrospectiveapplicationofcertainrequirementsunderIndAS.TheCompanyhaselectedtoapplythefollowingoptionalexemptionsfromretrospectiveapplication:

4.1Leasearrangements

Appendix C to Ind AS 17 requires entity to assess whether contract or arrangement contains a lease. Inaccordancewiththesame,thisassessmentshouldbecarriedoutattheinceptionofarrangement.However,thecompanyhasusedexemptionunderIndAS101andassessedallarrangementsbasedonconditionsinplaceasondateoftransition.

4.2DeemedcostforProperty,plant,equipment&intangibleassets

OntransitiontoIndAS,thecompanyhaselectedtocontinuewiththecarryingvalueofallofitsproperty,plantandequipmentandintangibleassetsasat31March2017,measuredasperthepreviousGAAPandusethat


carryingvalueasthedeemedcostoftheproperty,plantandequipmentandintangibleassetsason1stApril2017.

4.3DeemedcostforInvestmentproperties

OntransitiontoIndAS,theCompanyhaselectedtocontinuewiththecarryingvalueofallofitsInvestmentpropertiesrecognisedasatApril1,2017,measuredasperthepreviousGAAP,andusethatcarryingvalueasthedeemedcostofsuchInvestmentproperties.

4.4Designationofpreviouslyrecognised�inancialinstruments

UnderIndAS109,atinitialrecognitionofa�inancialasset,asentitymaymakeanirrevocableelectiontopresentsubsequentchangesinthefairvalueofaninvestmentinanequityinstrumentinothercomprehensiveincome.Ind AS 101 allows such designation of previously recognised �inancial assets, as 'fair value through othercomprehensiveincome'onthebasisofthefactsandcircumstancesthatexistedatthedateoftransitiontoIndAS.TheCompanyhasoptednottore-evaluate�inancialassetsderecognizedinthepastincludingthosesoldtoassetrestructuringcompanies.

4.5Fairvaluemeasurementof�inancialassetsor�inancialliabilitiesatinitialrecognition

Under Ind AS 109, if an entity measures a �inancial instrument on initial recognition based on valuationtechniquesthatonlyuseobservablemarketdataorcurrentmarkettransactionsinthesameinstrument,andthefairvalueatinitialrecognitionisdifferentfromthetransactionprice,thenitisrequiredtorecognisethe'dayone'gainorlossatinitialrecognitionofthis�inancialinstrument.IndAS101allowsanentitytoapplythe'dayone'gainorlossrecognitionrequirementofIndAS109prospectivelytotransactionsenteredintoonorafterthedateoftransitiontoIndAS.TheCompanyhasoptedforthisexemptiontorecognisethe'dayone'gainorlossoninitialrecognitionarisingduetodifferenceintransactioncostandfairvalueprospectivelyfortransactionsenteredintoonorafterthedateoftransitiontoIndAS.

4.6Sharebasedpayments

TheCompanyhaselectednottoapplyIndAS102Share-BasedPayment,toequityinstrumentsthatvestedpriortothedateoftransitiontoIndAS.

Mandatoryexemptions

TheCompanyhasappliedthefollowingexceptionstotheretrospectiveapplicationofIndASasmandatorilyrequiredunderIndAS101:

4.7Estimates

OnassessmentoftheestimatesmadeunderthePreviousGAAP�inancialstatements,theCompanyhasconcludedthatthereisnonecessitytorevisetheestimatesunderIndAS,asthereisnoobjectiveevidenceofanerrorinthoseestimates.However,estimatesthatwererequiredunderIndASbutnotrequiredunderPreviousGAAParemadebytheCompanyfortherelevantreportingdatesre�lectingconditionsexistingasatthatdate.

4.8Classificationandmeasurementoffinancialassets

IndAS101requiresanentitytoassessclassificationandmeasurementoffinancialassets(investmentindebtinstruments)onthebasisofthefactsandcircumstancesthatexistedatthedateoftransitiontoIndAS.

Note5:TransitiontoIndAS-Reconciliations

The following reconciliations provide the explanations and quanti�ication ofthe differences arising from thetransitionfromPreviousGAAPtoIndASinaccordancewithIndAS101:

1. ReconciliationofEquityasatApril1,2017

2. A)ReconciliationofEquityasatMarch31,2018

B)ReconciliationofStatementofPro�itandLossfortheyearendedMarch31,2018

3. AdjustmentstoStatementofCashFlowsfortheyearendedMarch31,2018

PreviousGAAP�igureshavebeenreclassi�ied/regroupedwherevernecessarytoconformwith�inancialstatementspreparedunderIndAS.


Note6:Cashandcashequivalents(ìnLacs)

Note7:OtherBankBalances(ìnLacs)

Particulars Asat Asat Asat 31March,201931March,2018 01April,2017 -Opening

Fixeddepositwithoriginalmaturityformorethan 27.63 25.95 -3monthsbutlessthan12months*

Fixeddepositwithoriginalmaturityofmorethan 110.00 110.00 -12months**

Total 137.63 135.95 -

*FixedDepositisunderlienforBankGuaranteepurposetotheextendof`25Lacs.**FixedDepositisunderlienwithBankpendingcompletionofformalitiesrelatingtoaborrowertotheextendof`110Lacs.

Note8:Receivables(ìnLacs)

Notradeorotherreceivableareduefromdirectorsorotherof�icersofthecompanyeitherseverallyorjointlywithanyotherperson.Noranytradeorotherreceivableareduefrom�irmsorprivatecompaniesrespectivelyinwhichanydirectorisapartner,adirectororamember.NoECListakenonreceivableasamountisimmaterialandmanagementconsidersallreceivablesasgood.


Cashonhand 2.76 3.56 190.37

BalanceswithBanks -

-incurrentaccounts 1,444.36 533.38 300.75

Total 1,447.12 536.94 491.12


Secured,consideredgood - -

Unsecured,consideredgood 4.07 13.44 2.99

Unsecured,consideredDoubtful - -

Total 4.07 13.44 2.99


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-

1,79,007.16

1,77,124.34

-

-

-

-

1,77,124.34

iv)Leasing

-

-

-

-

-

-

-

-

-

-

-

-

--

-

-

-

-v)Factoring

-

-

-

-

-

--

-

-

-

-

-

-

-

-

-

-

-vi)Others

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l(A

)-G

ross

1,8

4,7

66.1

9

-

-

-

-

1,8

4,7

66.1

91

,79,0

07.1

6

-

-

-

-

1,7

9,0

07.1

6

1,7

7,1

24.3

4

-

-

-

-

1,7

7,1

24.3

4Less:

(2,602.06)

-

-

-

-

(2,602.06)

(4,368.39)

-

-

-

-

(4,368.39)

(4,084.43)

-

-

-

-

(4,084.43)

Impairm

ent

lossallowance

Tota

l(A

)-N

et

1,8

2,1

64.1

3

-

-

-

-

1,8

2,1

64.1

31

,74,6

38.7

7

-

-

-

-

1,7

4,6

38.7

7

1,7

3,0

39.9

1

-

-

-

-1,7

3,0

39.9

1

(B)

i)Securedby

1,84,766.19

-

-

-

-1,84,766.191,79,007.16

-

-

-

-

1,79,007.16

1,77,124.34

-

-

-

-

1,77,124.34

tangible

assetsand

intangible

assets

ii)Coveredby

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bank/

Government

Guarantees

iii)

Uns

ecur

ed

-

-

-

-

-

-

-

-

-

-

- -

-

-

-

-

-

- T

otal

(B

)-G

ross

1,

84,7

66.1

9

-

-

-

-

1,84

,766

.19

1,

79,0

07.1

6

-

-

-

-

1,

79,0

07.1

6

1,77

,124

.34

-

-

-

- 1

,77,

124.

34L

ess

:

(2,6

02.0

6)

-

-

-

-

(2,6

02.0

6)

(4,3

68.3

9)

-

-

-

-

(4,3

68.3

9)

(4,0

84.4

3)

-

-

-

-

(4,0

84.4

3)Im

pair

men

t lo

ss a

llow

ance

Tot

al (

B)

- N

et

1,82

,164

.13

-

-

-

-

1,

82,1

64.1

3

1,74

,638

.77

-

-

-

-

1,74

,638

.77

1,

73,0

39.9

1

-

-

- -

1,

73,0

39.9

1(C

)i)

P

ubli

c S

ecto

r -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ii)

Oth

ers

:

Indi

vidu

als

&

1,84

,766

.19

-

-

-

-

1,

84,7

66.1

9

1,79

,007

.16

-

-

-

-

1,

79,0

07.1

6

1,77

,124

.34

-

-

-

-

1,

77,1

24.3

4

Cor

pora

tes

Tot

al (

C)-

Gro

ss

1,8

4,76

6.19

-

-

-

-

1,

84,7

66.1

9

1,79

,007

.16

-

-

-

-

1,79

,007

.16

1,

77,1

24.3

4

-

-

-

-

1,77

,124

.34

Les

s: I

mpa

irm

ent

(2

,602

.06)

-

-

-

-

(2

,602

.06)

(4

,368

.39)

-

-

-

-

(4

,368

.39)

(4

,084

.43)

-

-

-

-

(4

,084

.43)

Los

s A

llow

ance

Tot

al (

C)

- N

et

1,82

,164

.13

-

-

-

-

1,

82,1

64.1

3

1,74

,638

.77

-

-

-

-

1,

74,6

38.7

7

1,73

,039

.91

-

-

-

-

1,

73,0

39.9

1 T

otal

1,

82,1

64.1

3

- -

- -

1,82

,164

.13

1,74

,638

.77

-

- -

- 1,

74,6

38.7

7

1,73

,039

.91

-

- -

- 1,

73,0

39.9

1


As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017-O

penin

g

Sta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

l

Inte

rnalra

tin

gg

rade

Perf

orm

ing

1,59,267.37

20,333.97

1,79,601.34

1,47,299.73

21,658.01

1,68,957.74

1,45,972.66

26,163.79

1,72,136.45

Non

-perf

orm

ing:

-

-

-

Individuallyim

paired

5,164.85

5,164.85

10,049.42

10,049.42

4,987.89

4,987.89

Tota

l

1,5

9,2

67.3

7

20,3

33.9

7

5,1

64.8

5

1,8

4,7

66.1

9

1,4

7,2

99.7

3

21,6

58.0

1

10,0

49.4

2

1,7

9,0

07.1

6

1,4

5,9

72.6

6

26,1

63.7

9

4,9

87.8

9

1,7

7,1

24.3

4

Cre

dit

Quali

tyo

fAss

ets

Thetablebelowshowsthecreditqualityandthemaxim

umexposuretocreditriskbasedontheCompany'sinternalcreditratingsystem

andyear-endstageclassi�ication.

Theam

ountspresentedaregrossofimpairm

entallowances.DetailsoftheCompany'sinternalgradingsystem

andpoliciesonECLallowancesaresetoutinNote44.

(`inLacs)

Rec

onci

liat

ion

of

Gro

ss C

arry

ing

amou

nt

is g

iven

bel

ow:

(`inLacs)

Peri

ode

ndedM

arc

h3

1,2

019

Peri

ode

ndedM

arc

h3

1,2

018

Sta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

l

Gro

ssc

arr

yin

ga

mountopenin

gb

ala

nce

1,47,299.73

21,658.01

10,049.42

1,79,007.16

1,45,972.66

26,163.79

4,987.891,77,124.34

New

assetsoriginatedorpurchased

61,391.83

787.69

69.52

62,249.04

67,860.45

549.95

89.35

68,499.75

Assetsderecognisedorrepaid(excludingwriteoffs)

(42,803.10)

(6,446.36)

(7,351.70)

(56,601.16)

(57,849.40)

(6,170.20)

(2,245.05)

(66,264.65)

TransferstoStage1

(6,621.09)

(6,621.09)

(8,683.98)

(8,683.98)

TransferstoStage2

4,334.63

4,334.63

1,114.47

1,114.47

TransferstoStage3

2,427.90

2,427.90

7,297.05

7,297.05

Changestocontractualcash�lowsdueto

-

-

modi�icationsnotresultinginderecognition

Amountswrittenoff

(30.29)

(30.29)

(79.82)

(79.82)

Gro

ssc

arr

yin

ga

mountcl

osi

ngb

ala

nce

1,5

9,2

67.3

7

20,3

33.9

7

5,1

64.8

5

1,8

4,7

66.1

9

1,4

7,2

99.7

3

21,6

58.0

1

10,0

49.4

2

1,7

9,0

07.1

6


Rec

onci

liat

ion

of

EC

L b

alan

ce i

s gi

ven

bel

ow:

(`inLacs)

Peri

ode

ndedM

arc

h3

1,2

019

Peri

ode

ndedM

arc

h3

1,2

018

Sta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

l

ECLa

llow

an

ce-o

penin

gb

ala

nce

956.07

906.09

2,506.23

4,368.39

1,085.11

1,267.38

1,731.94

4,084.43

New

assetsoriginatedorpurchased

384.05

32.29

15.16

431.50

445.88

29.62

25.72

501.22

Assetsderecognisedorrepaid(excludingwriteoffs)

(390.84)

(416.56)

(1,891.05)

(2,698.45)

(499.32)

(375.52)

(941.87)

(1,816.71)

TransferstoStage1

(49.93)

(49.93)

(75.60)

(75.60)

TransferstoStage2

65.31

65.31

(15.39)

(15.39)

TransferstoStage3

491.68

491.68

1,713.44

1,713.44

Amountswrittenoff

(6.44)

(6.44)

(23.00)

(23.00)

ECLa

llow

an

ce-c

losi

ngb

ala

nce

899.3

5

587.1

3

1,1

15.5

8

2,6

02.0

6

956.0

7

906.0

9

2,5

06.2

3

4,3

68.3

9


Note

10:I

nvest

ments

(`inLacs)

SH

RIR

AM

HO

USIN

GF

INA

NCEL

IMIT

ED

Part

icula

rs

As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017-O

penin

g

AtFair

valu

e

AtFair

valu

e

AtFair

valu

e

Am

ort

ised

Thro

ugh

Thro

ugh

Tota

lA

mort

ised

Thro

ugh

Thro

ugh

Tota

lA

mort

ised

Thro

ugh

Thro

ugh

Tota

l

Cost

O

ther

Com

-pro

�itor

Cost

O

ther

Com

-pro

�itor

Cost

O

ther

Com

-pro

�itor

pre

hen

sive

loss

pre

hen

sive

loss

pre

hensi

ve

loss

In

com

e

In

com

e

In

com

e

i)Mutualfunds

-

-

16,023.03

16,023.03

-

-

-

-

-

-

1,800.48

1,800.48

ii)Passthrough

-

3,978.28

-

3,978.28

-

7,637.60

-

7,637.60

-

7,137.68

-

7,137.68

certi�icates(PTC),

(unquoted)

iii)SecurityReceipts

-

-

1,858.44

1,858.44

-

-

2,303.10

2,303.10

-

-

-

-

Tota

lG

ross

(A

)-

3,9

78.2

8

17,8

81.4

7

21,8

59.7

5

-

7,6

37.6

0

2,3

03.1

0

9,9

40.7

0

-

7,1

37.6

8

1,8

00.4

8

8,9

38.1

6

i)Overseasinvestments

-

-

-

-

-

-

-

-

-

-

-

-

ii)InvestmentsinIndia

-

3,978.28

17,881.47

21,859.75

-

7,637.60

2,303.10

9,940.70

-

7,137.68

1,800.48

8,938.16

Tota

lG

ross

(B

)-

3,9

78.2

8

17,8

81.4

7

21,8

59.7

5

-

7,6

37.6

0

2,3

03.1

0

9,9

40.7

0

-

7,1

37.6

8

1,8

00.4

8

8,9

38.1

6

Less:Allowancefor

-

(4.74)

-

(4.74)

-

(19.88)

-

(19.88)

-

(18.24)

-

(18.24)

impairm

entloss(C)

Tota

l-N

etD

=(

A)+

(C)

-

3,9

73.5

4

17,8

81.4

7

21,8

55.0

1

-

7,6

17.7

2

2,3

03.1

0

9,9

20.8

2

-

7,1

19.4

4

1,8

00.4

8

8,9

19.9

2

OutoftheCompany'sFVOCIdebtportfolio(PTC),instrumentswithaprincipalof3,656.88Lacs(2018:2,746.46Lacs;2017:1,611.50Lacs)paidduringtheyear.

Debti

nst

rum

en

tsm

easu

reda

tFVO

CI

Cre

dit

quali

tyo

fass

ets

ThetablebelowshowsthefairvalueoftheCompany'sdebtinstrumentsmeasuredatFVOCIbycreditrisk,basedontheCompany'sinternalcreditratingsystem

andyear-endstage

classi�ication.Theam

ountpresentedaregrossofimpairm

entallowances.DetailsoftheCompany'sinternalgradingsystem

andpoliciesonECLallowancessetoutinNote44.

(`inLacs)

In

tern

alG

radeR

ati

ng

As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017-O

penin

g

Sta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

l

Perform

ing

3,978.28

-

3,978.28

7,637.60

-

-

7,637.60

7,137.68

-

7,137.68

NonPerform

ing

-

-

-

-

-

-

-

Tota

l

3,9

78.2

8

-

-

3,9

78.2

8

7,6

37.6

0

-

-

7,6

37.6

0

7,1

37.6

8

-

-

7,1

37.6

8


AnanalysisofchangesingrosscarryingamountandthecorrespondingECLsisasfollows:

(`inLacs)

Particulars 2018-19 2017-18

Fairvalue–Openingbalance 7,637.60 7,137.68

Newassetsoriginatedorpurchased - 3,250.49

Assetsderecognisedormatured (3,659.32) (2,750.57)

Fairvalue-Closingbalance 3,978.28 7,637.60

(`inLacs)

Particulars 2018-19 2017-18

OpeningbalanceinECL 19.88 18.24

Newassetsoriginatedorpurchased - 8.30

Assetsderecognisedormatured(excludingwriteoffs) (9.46) (6.66)

ECLassumptionchanges (5.68) -

ClosingbalanceinECL 4.74 19.88


Note11:Other�inancialassets

(ìnLacs)

Note12:Currenttaxassets(net)

(ìnLacs)

Note13:InvestmentProperty

(ìnLacs)


Land-Freehold Land-Freehold Land-Freehold

Atcostorfairvalueatthebeginningoftheyear 0.28 0.28 0.28

Additions - - -

Disposals - - -

Atcostorfairvalueattheendoftheyear 0.28 0.28 0.28

DepreciationandImpairment

AccumulatedDepreciationandimpairmentasatthe - - -beginningoftheyear

Depreciationchargefortheyear - - -

Disposals - - -

AccumulatedDepreciationandimpairmentasat - - -theendoftheyear

NetCarryingamountasattheendoftheyear 0.28 0.28 0.28

Particulars Asat Asat Asat 31March,2019 31March,2018 01April,2017 -Opening

Security deposits 331.27 327.12 313.51

Application money for security receipts - - 3,008.15

Interest receivable on Pass through certicates (PTC) 21.68 28.56 43.01

Less : Allowance for impairment against interest receivable (0.03) (0.07) (0.11) on PTC

Total 352.92 355.61 3,364.56


Advanceincometax(netofprovisionfortax) 1,404.77 456.11 440.92

Total 1,404.77 456.11 440.92


Note

14:

Pro

pert

y,P

lantandE

quip

ment

(`inLacs)

Part

icula

rs

As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017-O

penin

g

Com

pu-

Ele

ctri

calF

urn

iture

O

f�ic

e

Lease

Tota

lCom

pu-

Ele

ctri

calF

urn

iture

O

f�ic

e

Lease

Tota

lCom

pu-

Ele

ctri

calF

urn

iture

O

f�ic

e

Lease

Tota

l

te

rs

Inst

all

a-

&

Equip

-hold

ters

In

stall

a-

&

Equip

-hold

ters

In

stall

a-

&

Equip

-hold

ti

on

an

d

Fix

ture

sm

en

tIm

pro

-

ti

on

an

d

Fix

ture

sm

en

tIm

pro

-

ti

ona

nd

Fix

ture

sm

ent

Impro

-

Equip

-

vem

en

t

Equip

-

vem

ent

Equip

-

vem

ent

m

en

t

men

t

ment

Atcostorfairvalueat

363.00

200.54

84.19

4.29

564.251,2

16.2

7

274.25

145.74

59.64

3.82304.01

787.4

6

177.08

60.54

23.50

0.96149.88

411.96

thebeginningoftheyear

Additions

42.04

25.02

9.01

0.43

88.88

165.3

8

88.75

54.94

25.36

0.47260.24

429.7

6

99.06

87.75

36.14

2.86154.13

379.94

Acquisitionsthrough

-

-

-

-

-

-

-

-

-

-

-

-

-businesscombination

Revaluationadjustment,

-

-

-

-

-

-

-

-

-

-

-

-

-

ifany

Disposals

(2.63)

(9.96)

(5.53)

-(24.63)

(42.7

5)

-

(0.14)

(0.81)

-

-

(0.9

5)

(1.89)

(2.55)

-

-

-

(4.44)

Reclassi�icationfrom/

-

-

-

-

-

-

-

-

-

-

-

-

-

toheldforsale

OtherAdjustments

-

-

-

-

-

-

-

-

-

-

-

-

-(pleasespecify)

Atco

sto

rfa

irv

alu

ea

t

402.4

1

215.6

0

87.6

7

4.7

2

628.5

01,3

38.9

0

363.0

0

200.5

4

84.1

9

4.2

9

564.2

5

1,2

16.2

7

274.2

5

145.7

4

59.6

4

3.8

2

304.0

1

787.4

6th

ee

ndo

fth

ey

ear

Accumulated

217.14

33.91

14.30

0.68

199.29

465.3

2

150.98

15.30

7.14

0.31103.93

277.6

6

100.33

6.22

3.35

0.09

63.33

173.32

Depreciationand

impairm

entasatthe

beginningoftheyear

Depreciationfortheyear

38.80

21.67

8.47

0.43

119.62

188.9

9

66.16

18.68

7.27

0.37

95.36

187.8

4

52.14

10.01

3.79

0.22

40.60

106.76

Disposals

(1.79)

(1.51)

(1.03)

-

(9.33)

(13.6

6)

-

(0.07)

(0.11)

-

-

(0.1

8)

(1.49)

(0.93)

-

-

-

(2.42)

Acc

um

ula

ted

254.1

5

54.0

7

21.7

4

1.1

1

309.5

8

640.6

5

217.1

4

33.9

1

14.3

0

0.6

8

199.2

9

465.3

2

150.9

8

15.3

0

7.1

4

0.3

1

103.9

3

277.6

6D

epre

ciati

on

an

d

impair

men

tas

atth

e

endo

fth

ey

ear

NetCarr

yin

ga

moun

tas

148.2

6

161.5

3

65.9

3

3.6

1

318.9

2

698.2

5

145.8

6

166.6

3

69.8

9

3.6

1

364.9

6

750.9

5

123.2

7

130.4

4

52.5

0

3.5

1

200.0

8

509.8

0

atth

ee

ndo

fth

ey

ear

Capitalworkinprogress

--

-

-

-

-

11.05

11.0

5

98.6

4

98.6

4

includingadvancesfor

capitalassets

Duetochangeinlifeofcomputersfrom3yearsto5yearstherehasbeenreductionofdepreciationof

`34.50lacs


Note15:OtherIntangibleAssets

(ìnLacs)

Duetochangeinlifeofaassetfrom3yearsto5yearstherehasbeenreductionofdepreciationof`20.21Lacs

Note16:Othernon�inancialassets

(ìnLacs)

*-NoteonAssetheldforsale

(ìnLacs)


Software Software Software

Atcost,beginningoftheyear 251.43 119.84 115.50

Additions 244.34 131.59 4.34

Acquisitions - -

Fairvalueadjustment,ifany - -

Disposals - - -

OtherAdjustments(pleasespecify) - -

TotalCost 495.77 251.43 119.84

Accumulatedamortisationandimpairment:

Atthebeginningoftheyear 121.76 116.50 114.22

Amortisation 43.51 5.26 2.28

Disposals - - -

Impairment/(reversal)ofImpairment - -

OtherAdjustments(pleasespecify) - -

TotalAmortisationandimpairment 165.27 121.76 116.50

NetCarryingamountasattheendoftheyear 330.50 129.67 3.34


UnamortizedExpenses 664.31 772.92 79.07

Servicetaxcredit(input)receivable - - 5.64

Prepaidexpenses 184.79 207.35 198.28

FairValueofAssetsinExcessofGratuityProvision 14.10 - -

GSTReceivable 230.28 174.67 -

Othersundryadvances 46.16 48.96 38.22

DeferredLeaserental 84.51 112.32 30.19

AssetsheldforSale* 7,927.96 5,557.96 888.79

Total 9,152.11 6,874.18 1,240.19


HouseProperty 7,927.96 5,557.96 888.79

Total 7,927.96 5,557.96 888.79


Duringtheyear,Companyhastakenphysicalandlegalpossessionofhouse/Apartments/vacantland(Collateralsecurities)with (fair value) of`4,047.95Lacs.Theseproperties are readily available for sale andmanagementregularlyconductsauctionstoselltheseassets.

Impairmentloss:

Inrespectofpropertiesclassi�iedas“assetsheldforsale”duringtheyearanimpairmentlossof`191.52Lacsforwrite-downofthesepropertiestolowerofitscarryingamountanditsfairvaluelesscoststosellhavebeenincludedin“ImpairmentofFinancialinstruments”.

Measurement:

Thenon-recurringfairvaluemeasurementfortheassetsheldforsalehasbeencategorizedasaLevel2fairvaluebasedontheinputstothevaluationtechniquesused.Fortheassetsclassi�iedas“assetsheldforsale”duringtheyearvaluationhasbeendeterminedbyIndependentvaluerbyusingthesalescomparisonapproachforwhichtheprice(suchasrecentsales,municipalvaluation,etc.)oftheassetsinthesimilarlocationareconsidered.Thisisalevel2measurementasperthefairvaluehierarchy.

Inrespectoftheassetsheldforsaleformorethan1-yearmanagementcontinuesitseffortstoselltheseassets.Theseassetsarecontinuedatfairvaluedeterminedoninitialrecognitionasmanagementbelievethesefairvaluestoberecoverableduetonomajorchangesinthemarketcondition.Someoftheindicatorswhichthemanagementusestoassesschangeinrealestatemarketconditionarechangesin localmunicipalvalues,pricesofsimilarpropertiesavailableonline,demandforhouses,etc.

Note17:TradePayables

(`inLacs)


i) Totaloutstandingduesofmicroenterprises - - - andsmallenterprises

ii) Totaloutstandingduesofcreditorsotherthan microenterprisesandsmallenterprises

SundryCreditors 324.25 345.08 493.76

Outstandingexpenses 798.78 531.11 318.65

Total 1,123.03 876.19 812.41


Note

18:D

ebtse

curi

ties

(`inLacs)

Part

icula

rs

As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017-O

penin

g

AtFair

valu

e

AtFair

valu

e

AtFair

valu

e

At

Thro

ugh

Thro

ugh

Tota

lA

tT

hro

ugh

Thro

ugh

Tota

lA

tT

hro

ugh

Thro

ugh

Tota

l

A

mort

ised

pro

�itor

Oth

er

Com

-

Am

ort

ised

pro

�itor

Oth

er

Com

-

Am

ort

ised

pro

�itor

Oth

er

Com

-

Cost

lo

ss

pre

hen

sive

Cost

lo

ss

pre

hen

sive

Cost

lo

ss

pre

hensi

ve

Inco

me

In

com

e

In

com

e

Privatelyplacedredeemable

58,014.79

-

-

58,014.79

66,957.85

-

-

66,957.85

76,617.60

-

-

76,617.60

non-convertibledebentures

Tota

l(A

)

58,014.79

-

-

58,014.79

66,957.85

-

-

66,957.85

76,617.60

-

-

76,617.60

DebtsecuritiesinIndia

58,014.79

-

-

58,014.79

66,957.85

-

-

66,957.85

76,617.60

-

-

76,617.60

DebtsecuritiesoutsideIndia

-

-

-

-

-

-

-

-

-

-

-

-


Deta

ilo

fR

edeem

able

Non-C

onvert

ible

Debentu

res

(`inLacs)

Sr.

ISIN

No.

Date

of

Date

of

Nom

inal

Tota

l

Rate

of

Face

valu

e

As

at

As

at

As

at

Secu

red/

Term

sof

No.

all

otm

en

tre

dem

pti

on

valu

ep

er

n

um

ber

of

inte

rest

p.a

.(`

In

Lacs

)31M

arc

h

31M

arc

h

1A

pri

l

Unse

cure

d

redem

pti

on

deben

ture

deben

ture

s

2019

2018

2017

(`In

Lacs

)

-O

penin

g

Am

ount

Am

ount

Am

ount

1

INE432R07042

02-Dec-14

01-Dec-17

10.00

500

9.30%

5,000

-

-

5,000.00

Secured

BulletPayment,atPar

2

INE432R07067

26-Dec-14

26-Dec-17

10.00

450

9.30%

4,500

-

-

4,500.00

Secured

BulletPayment,atPar

3

INE432R07158

12-Aug-16

12-Feb-18

10.00

1000

8.76%

10,000

-

-

10,000.00

Secured

BulletPayment,atPar

4

INE432R07166

12-Aug-16

25-Apr-18

10.00

100

-

1,000

-

1,000.00

1,000.00

Secured

BulletPayment,atPar

5

INE432R07133

28-Jun-16

28-Jun-18

10.00

500

9.50%

5,000

-

5,000.00

5,000.00

Secured

BulletPayment,atPar

6

INE432R07091

06-Oct-15

08-Oct-18

10.00

200

-

2,000

-2,000.00

2,000.00

Secured

BulletPayment,atPar

7

INE432R07174

12-Sep-16

12-Sep-19

10.00

900

8.97%

9,000

9,000.00

9,000.00

9,000.00

Secured

BulletPayment,atPar

8

INE432R07182

21-Sep-16

19-Sep-19

10.00

1000

8.97%

10,000

10,000.00

10,000.00

10,000.00

Secured

BulletPayment,atPar

9

INE432R07190

25-Nov-16

25-Nov-19

10.00

140

8.45%

1,400

1,400.00

1,400.00

1,400.00

Secured

BulletPayment,atPar

10

INE432R07075

26-Dec-14

26-Dec-19

10.00

400

9.25%

4,000

4,000.00

4,000.00

4,000.00

Secured

BulletPayment,atPar

11

INE432R07109

27-Oct-15

27-Oct-20

10.00

400

9.00%

4,000

4,000.00

4,000.00

4,000.00

Secured

BulletPayment,atPar

12

INE432R07216

14-Feb-18

12-Feb-21

10.00

500

9.00%

5,000

5,000.00

5,000.00

-

Secured

BulletPayment,atPar

13

INE432R07141

01-Jul-16

01-Jul-21

10.00

200

9.50%

2,000

2,000.00

2,000.00

2,000.00

Secured

BulletPayment,atPar

14

INE432R07208

14-Feb-18

12-Aug-21

10.00

500

8.97%

5,000

5,000.00

5,000.00

-

Secured

BulletPayment,atPar

15

INE432R07026

10-Oct-14

10-Oct-21

10.00

450

10.25%

4,500

4,500.00

4,500.00

4,500.00

Secured

BulletPayment,atPar

16

INE432R07034

13-Oct-14

13-Oct-21

10.00

150

10.25%

1,500

1,500.00

1,500.00

1,500.00

Secured

BulletPayment,atPar

17

INE432R07083

26-Dec-14

26-Dec-21

10.00

150

9.35%

1,500

1,500.00

1,500.00

1,500.00

Secured

BulletPayment,atPar

18

INE432R07117

29-Apr-16

29-Apr-23

10.00

250

9.00%

2,500

2,500.00

2,500.00

2,500.00

Secured

BulletPayment,atPar

19

INE432R07125

02-M

ay-16

02-M

ay-23

10.00

150

9.00%

1,500

1,500.00

1,500.00

1,500.00

Secured

BulletPayment,atPar

20

INE432R07018

10-Oct-14

10-Oct-24

10.00

400

10.30%

4,000

4,000.00

4,000.00

4,000.00

Secured

BulletPayment,atPar

Tota

lam

oun

t

55,9

00.0

0

63,9

00.0

0

73,4

00.0

0

A

dd:InterestaccruedbutnotdueonborrowingsonNCD

2,314.76

3,341.05

3,606.78

Less

:Unam

ortizedBorrowingcostonNCDadjustedasperEIRCalculation

199.97

283.20

385.72

Less

:PrivateplacementissueexpensesforNCDtotheextentnotwrittenoff

-

-

3.46

N

etA

moun

t

58,0

14.7

9

66,9

57.8

5

76,6

17.6

0

Natu

reo

fSecu

rity

:

Theredem

ptionofprincipalamountofsecuredredeemablenon-convertibledebentureswithallinterestthereonaresecuredbyalegalmortgageonthespeci�iedimmovable

propertyandbywayofchargeontheCompany'sspeci�icallyidenti�iedmovableassetssuchasbooksdebts/loanreceivablesinfavouroftheTrusteesappointed.


Part

icula

rs

As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017-O

penin

g

AtFair

valu

e

AtFair

valu

e

AtFair

valu

e

At

Thro

ugh

Thro

ugh

Tota

lA

tT

hro

ugh

Thro

ugh

Tota

lA

tT

hro

ugh

Thro

ugh

Tota

l

A

mort

ised

pro

�itor

Oth

er

Com

-

Am

ort

ised

pro

�itor

Oth

er

Com

-

Am

ort

ised

pro

�itor

Oth

er

Com

-

Cost

lo

ss

pre

hen

sive

Cost

lo

ss

pre

hen

sive

Cost

lo

ss

pre

hensi

ve

Inco

me

In

com

e

In

com

e

Term

Loan

FromBanks

90,472.34

-

-

90,472.34

53,512.61

--

53,512.61

63,307.20

-

-

63,307.20

FromFinancialInstitutions

819.85

-

-

819.85

1,281.95

-

-

1,281.95

1,798.25

--

1,798.25

FromBanks(Subordinatedebts)

--

--

--

--

--

--

Fromothers

--

--

--

--

--

--

DeferredPaymentLiabilites

--

--

--

--

--

--

Loansfromrelatedparty

--

--

--

--

--

--

FinanceLeaseobligations

--

--

--

--

--

--

CommercialPapers

4,958.47

-

-

4,958.47

9,860.43

--

9,860.43

--

-

-

Loan

sre

payable

ond

em

an

d

FromBanks(OD&CC)

14,617.74

-

-

14,617.74

16,042.76

-

-

16,042.76

4,257.51

-

-

4,257.51

FromFinancialInstitutions

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l(A

)

1,10,868.40

-

-

1,10,868.40

80,697.75

-

-

80,697.75

69,362.96

-

-

69,362.96

BorrowingsinIndia

1,10,868.40

-

-

1,10,868.40

80,697.75

-

-

80,697.75

69,362.96

-

-

69,362.96

BorrowingsoutsideIndia

-

-

-

-

-

-

-

-

-

-

-

-

Note

19:B

orr

ow

ings

(oth

er

thand

ebtse

curi

ty)

(`inLacs)


B. TermloanfrombanksTermsofrepaymentasat31March,2019

(ìnLacs)

Tenure RateofInterest RepaymentDetails Amount

Above60months 9.05%to9.80% 1to14instalmentsofhalfyearlyfrequency 7,488.40

48-60months 8.35%to10.00% 1to60instalmentsofbullet,monthly, 61,583.33 quarterly&halfyearlyfrequency

36-48months 10.00% 1to12instalmentsofQuarterlyfrequency 10,000.00

12-36months 8.00%to9.00% 1to12instalmentsofQuarterlyfrequency 1,503.33

0-12months 9.01% BulletPayment 10,000.00

Total 90,575.06

Less:Bankloanprocessingfeestotheextentnotwrittenoff 102.72

NetAmount 90,472.34

Termsofrepaymentasat31March,2018

(ìnLacs)




24-48months 8.00% 1to12instalmentsofQuarterlyfrequency 1,100.00

Total 53,555.72


Add:Interestaccruedbutnotdueonborrowings 0.24

NetAmount 53,512.61

Termsofrepaymentasat01April,2017-Opening

(ìnLacs)




Total 63,415.88


Add:Interestaccruedbutnotdueonborrowings 21.27

NetAmount 63,307.20

Theaboveclassi�icationisbasedonoriginaltenorofborrowings.Maturitypro�ileofaboveiscoveredinNoteNo.39.

NatureofSecurity:

TermLoansfrombanksaresecuredbywayofexclusivechargeonspeci�iedloanreceivables.


Note21:Provisions

(ìnLacs)

C. Re�inancefromNationalHousingBank(FinancialInstitutions)Termsofrepaymentasat31March,2019

(ìnLacs)


Above60months 8.50%to9.00% 47instalmentsofquarterlyfrequency 819.85

Termsofrepaymentasat31March,2018(ìnLacs)


Above60months 8.50%to9.00% 47instalmentsofquarterlyfrequency 1,281.95

Termsofrepaymentasat01April,2017-Opening(ìnLacs)


Above60months 8.50%to9.00% 47instalmentsofquarterlyfrequency 1,798.25

NatureofSecurity:

Re�inancefromNHBissecuredbywayofexclusivechargeonspeci�iedbookdebtsandcorporateguaranteefromholdingCompanyShriramCityUnionFinanceLimited.

CashCreditsandWorkingCapitalDemandLoans(LoanRepaybleonDemand)

NatureofSecurity:

Cashcreditandworkingcapitaldemandloanfrombanksaresecuredbywayofexclusivechargeonspeci�iedhomeloanreceivables.

Note20:Other�inancialliabilities

(ìnLacs)


Retentionmoneyandothersundryliabilities 5.02 7.00 519.51

Rentdeposit 275.33 275.33 117.39

Otherliabilities 21.53 - -

Total 301.88 282.33 636.90


Fornonfundedexposure 39.43 56.59 159.43

Provisionforemployeebene�its

-Gratuity - 11.03 -

-Provisionforcompensatedabsences 97.93 48.41 27.16

ProvisionforLeaseRent 115.75 90.00 62.68

ProvisionforBonus&ExGratia 173.80 159.20 159.46

Total 426.91 365.23 408.73


Loan

com

mit

men

t

Thetablebelowshowsthecreditqualityandthemaxim

umexposureforcreditriskbasedontheCompany'sinternalcreditratingsystem

andyear-endstageclassi�ication.Details

oftheCompany'sinternalgradingsystem

andpoliciesonECLsaresetoutinNote44.

(`inLacs)

In

tern

alR

ati

ngG

rade

As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017

Sta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

l

Perf

orm

ing

6,626.42

120.41

6,746.83

8,457.19

78.72

8,535.91

13,798.57

476.10

14,274.67

Non

-perf

orm

ing

-Individuallyim

paired

47.13

47.13

234.58

234.58

Tota

l

6,6

26.4

2

120.4

1

-

6,7

46.8

3

8,4

57.1

9

78.7

2

47.1

3

8,5

83.0

4

13,7

98.5

7

476.1

0

234.5

8

14,5

09.2

5

Part

icula

rs

2018-1

9

2017-1

8

Sta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

l

Open

ingb

ala

nce

ofouts

tandin

ge

xposu

re

8,457.19

78.72

47.13

8,583.04

13,798.57

476.10

234.58

14,509.25

New

exposures

4,275.09

54.90

4,329.99

6,636.80

28.02

17.98

6,682.80

Exposuresderecognisedormatured/lapsed

(6,036.20)

(73.88)

(47.13)

(6,157.21)

(11,914.00)

(444.32)

(233.58)

(12,591.90)

(excludingwrite-offs)

TransferstoStage1

(69.66)

(69.66)

(64.18)

(64.18)

TransferstoStage2

60.67

60.67

18.92

18.92

TransferstoStage3

-

28.15

28.15

Clo

sin

gb

ala

nce

ofouts

tandin

ge

xposu

re

6,626.42

120.41

-

6,746.83

8,457.19

78.72

47.13

8,583.04

An

an

aly

sis

ofch

anges

intheg

ross

carr

yin

ga

moun

tan

dthec

orr

esp

on

din

gE

CLs

inr

ela

tion

too

ther

undra

wnc

om

mit

mentis

as

foll

ow

s:

Gro

ssE

xposu

reR

eco

nci

liati

on

(`inLacs)


Part

icula

rs

2018-1

9

2017-1

8

Sta

ge1

Sta

ge2

Sta

ge3

Tota

lSta

ge1

Sta

ge2

Sta

ge3

Tota

l

ECLa

llow

an

ce-o

penin

gb

ala

nce

40.01

4.27

12.31

56.59

45.21

26.78

87.44

159.43

New

exposures

24.29

2.44

-

26.73

31.97

1.53

5.42

38.92

Exposuresderecognisedormatured(excluding

(29.27)

(4.08)

(12.31)

(45.66)

(36.49)

(25.20)

(87.14)

(148.83)

write-offs)

TransferstoStage1

(0.53)

-

-

(0.53)

(0.68)

-

-

(0.68)

TransferstoStage2

-

2.30

-

2.30

-

1.16

-

1.16

TransferstoStage3

-

-

-

6.59

6.59

ECLa

llow

an

ce-c

losi

ngb

ala

nce

34.50

4.93

(0.00)

39.43

40.01

4.27

12.31

56.59

Reco

nci

liati

on

ofECLb

ala

nce

is

giv

enb

elo

w:

(`inLacs)

Note

22:O

ther

non�in

anci

alli

abil

itie

s

(`inLacs)

Part

icula

rs

A

sat31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

019-O

penin

g

Statutoryduespayable

114.08

126.05

58.92

Total

114.0

8

126.0

5

58.9

2


Note23:EquityShareCapital

(`inLacs)


EQUITYSHARECAPITAL

Authorised:22,00,00,000(PreviousYear:22,00,00,000)equityshares 22,000.00 22,000.00 22,000.00ofRs.10/-each

OrdinaryShares

Issuedandfullypaid

Issued,subscribedandfullypaidup:21,41,60,000(PreviousYear:21,41,60,000)equityshares 21,416.00 21,416.00 21,416.00ofRs.10/-each

TotalEquity 21,416.00 21,416.00 21,416.00

IssuedCapitalandReserves:

Thereconciliationofequitysharesoutstandingatthebeginningandattheendoftheyear

(No.inLacs)


Authorised22,00,00,000equitysharesofRs.10/-each 2,200.00 2,200.00 2,200.00

2,200.00 2,200.00 2,200.00

Issuedandfullypaidup

21,41,60,000equitysharesofRs.10/-each 2,141.60 2,141.60 2,141.60

2,141.60 2,141.60 2,141.60

Reconciliationofthenumberofsharesandamountoutstandingatthebeginningandattheendoftheyear

Particluars No.ofShares (inLacs)`

Asat1April,2017 21,41,60,000 21,416.00

Issuedduringtheyear-ESOP - -

Asat1April,2018 21,41,60,000 21,416.00

Issuedduringtheyear - -

Asat31March,2019 21,41,60,000 21,416.00

Terms/rightsattachedtoequityshares

TheCompanyhasonlyoneclassofequityshareshavingaparvalueofRs.10/-pershare.Eachholderofequitysharesisentitledtoonevotepershare.


Sharesheldbyholding/ultimateholdingcompanyand/ortheirsubsidiaries/associatesOutofequitysharesissuedbytheCompany,sharesheldbyitsholdingcompany,ultimateholdingcompanyandtheirsubsidiaries/associatesareasbelow:

(No.inLacs)


ShriramCityUnionFinanceLimited 1,654.40 1,654.40 1,654.40

1,654.40 1,654.40 1,654.40

Detailsofshareholdersholdingmorethan5%sharesintheCompany.


No.in %holding No.in %holding No.in %holding Lacs intheclass Lacs intheclass Lacs intheclass

ShriramCityUnionFinanceLimited 1,654.40 77.25% 1,654.40 77.25% 1,654.40 77.25%

ValiantMauritiusPartnersFDILtd. 487.20 22.75% 487.20 22.75% 487.20 22.75%

Fordetailsofsharesreservedforissueundertheemployeestockoption(ESOP)planoftheCompany,referNote37.

Note24:OtherEquity

(`inLacs)


Statutoryreserve(Pursuanttosection29CoftheNHBAct, 2,798.69 2,460.70 1,882.701987&Section36(1)(viii)ofIncomeTaxAct,1961)

SecurityPremium 12,180.00 12,180.00 12,180.00

Retainedearnings(Surplus/de�icitinpro�it&lossaccount) 9,920.75 8,584.09 5,325.73

DeemedInvestment 183.91 183.91 183.91

ShareOptionOutstanding 16.17 15.86 11.51

OtherComprehensiveIncome 64.85 5.44 -

Total 25,164.37 23,430.00 19,583.85


Note24(a):OtherEquity

(`inLacs)

SecuritiesPremiumAccount

At1April,2017 12,180.00

Add:AdditionsonESOPsexercised -

At31March,2018 12,180.00

Add:Premiumonsharesissuedduringtheyear -

At31March,2019 12,180.00

ShareOptionOutstanding

At1April,2017 11.51

Add:OtherAdditions/Deductionsduringtheyear 4.35

At31March,2018 15.86

Add:OtherAdditions/Deductionsduringtheyear 9.87

Less:Transferredtoretainedearning (9.56)

At31March,2019 16.17

StatutoryReservepursuanttoSection45-ICoftheRBIAct,1934

Statutoryreserve(Pursuanttosection29CoftheNHBAct,1987&Section36(1)(viii)ofIncomeTaxAct,1961)

At1April,2017 1,882.70

Add:TransferfromsurplusbalanceintheStatementofPro�itandLoss 578.00

At31March,2018 2,460.70

Add:TransferfromsurplusbalanceintheStatementofPro�itandLoss 337.99

At31March,2019 2,798.69

SurplusinStatementofPro�itandLoss

At1April,2017 5,325.73

Add:Pro�itfortheyear 3,841.79

Add/Less:Appropriations -

Transferto/(from)debentureredemptionreserve -

Dividendonequityshares -

Taxondividendonequityshares -

TransfertoStatutoryReserve (578.00)

OCIfortheyear (5.43)

Totalappropriations

At31March,2018 8,584.09

Add:Pro�itfortheyear 1,724.55

Add/Less:Appropriations 9.56

Transferto/(from)debentureredemptionreserve -

Interimdividendonequityshares -

Taxoninterimdividendonequityshares -

TransfertoStatutoryReserve (337.99)

OCIfortheyear (59.46)

Totalappropriations

At31March,2019 9,920.75

Note24(b):OtherEquity

NatureandpurposeofReserves

SecuritiesPremiumReserve:

Securitiespremiumreserveisusedtorecordthepremiumonissueofshares.ThereservecanbeutilisedonlyforlimitedpurposessuchasissuanceofbonussharesinaccordancewiththeprovisionsoftheCompaniesAct,2013.


ESOPReserve:

Theshare-basedpaymentreserveisusedtorecognisethevalueofequity-settledshare-basedpaymentsprovidedtoemployees,includingkeymanagementpersonnel,aspartoftheirremuneration.RefertoNote37forfurtherdetailsoftheseplans.

StatutoryReserve:

TheCompanycreatesSpecialReserveeveryyearoutofitspro�itsintermsofSec36(1)(viii)oftheIncomeTaxAct,1961readwithSec29CoftheNationalHousingBankAct,1987.TheCompanytransfersamountatleast20%ofthepro�itsaftertaxtoStatutoryreserve.

DeemedInvestment:

TheCompanyhasacquiredare�inancefromNationalHousingBankforwhichtheparent"ShriramCityUnionFinanceLtd"actedasaCorporateGurantor.TheFairvalueofFinancialGuaranteesoreceivedhasbeenclassi�iedas"DeemedInvestments".


Part

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fair

valu

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Cost

th

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fair

valu

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thro

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th

rough

pro

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loss

pro

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loss

Interestonloans

26,481.19

-

26,481.19

25,494.74

-

-25,494.74

Interestincomefrominvestments

-

626.89

-

626.89

-

679.71

-

679.71

Interestondepositswithbank

11.73

-

-

11.73

5.66

-

-

5.66

ProcessingFee

922.45

922.45

1,095.58

1,095.58

Tota

l

27,4

15.3

7

626.8

9

-

28,0

42.2

6

26,5

95.9

8

679.7

1

-

27,2

75.6

9

Not

e 25

: In

tere

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(`inLacs)

Note

26:N

etgain

/(

loss

)onfair

valu

ec

hanges

(`inLacs)

Part

icula

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F

or

theY

ear

En

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For

theY

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Ended3

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etgain

/(

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)on�in

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en

tsa

tfa

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ughp

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to

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ss

(i)Ontradingportfolio

-Investments

288.34

102.61

TotalN

etgain/(loss)onfairvaluechanges(C)

288.3

4

102.6

1

FairValuechanges:

-Realised

265.32

103.09

-Unrealised

23.02

(0.48)

TotalN

etgain/(loss)onfairvaluechanges(D)totallywith(C)

288.3

4

102.6

1

Tota

l

288.3

4

102.6

1


Note27:OthersOperatingIncome( inLacs)`

Particluars FortheYearEnded FortheYearEnded 31March,2019 31March,2018

ProcessingFee 373.42 322.49

Baddebtsrecovered 177.83 223.06

Othercharges 206.77 91.23

Total 758.02 636.78

Note28:OtherIncome( inLacs)`

Particluars FortheYearEnded FortheYearEnded 31March,2019 31March,2018

Netgain/(loss)onderecognitionofproperty,plantandequipment 0.01 -

Interestincomeonsecuritydeposits 31.20 25.07

Miscellaneousincome 7.53 25.49

Total 38.74 50.56

Particulars FortheYearEnded31March,2019 FortheYearEnded31March,2018

OnFinancial OnFinancial Total OnFinancial OnFinancial Total Liabilities Liabilities Liabilities Liabilities measuredat measuredat measuredat measuredat Amortised through Amortised through cost pro�itor cost pro�itor loss loss

InterestonBankBorrowings 6,209.87 - 6,209.87 4,720.07 - 4,720.07

InterestonDebts 5,488.44 - 5,488.44 6,680.97 - 6,680.97

Others 1,165.30 - 1,165.30 163.13 - 163.13

Total 12,863.61 - 12,863.61 11,564.17 - 11,564.17

Note29:FinanceCost( inLacs)`

Particulars FortheYearEnded31March,2019 FortheYearEnded31March,2018

OnFinancial OnFinancial Total OnFinancial OnFinancial Total Instrument Instrument Instrument Instrument measuredat measuredat measuredat measuredat Amortised fairvalue Amortised fairvalue cost throughOCI cost throughOCI

LossonSaleofLoanAssets 3,916.17 - 3,916.17 - - -

Total 3,916.17 - 3,916.17 - - -

Note30:Netlossonderecognitionof�inancialinstrumentsunderamortisedcostcategory( inLacs)`


Part

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For

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En

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thro

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Loans

(1,783.44)

-

(1,783.44)

181.07

-

181.07

Investment

(15.19)

-

(15.19)

1.60

-

1.60

Baddebtswrittenoff

460.25

-

460.25

979.07

979.07

Tota

l

(1,3

38.3

8)

-

(1,3

38.3

8)

1,1

61.7

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-

1,1

61.7

4

Note

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mpair

mentof�i

nanci

alass

ets

(ìnLacs)

Part

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2018-1

9

2017-1

8

Sta

ge1

Sta

ge2

Sta

ge3

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lSta

ge1

Sta

ge2

Sta

ge3

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l

Loansandadvancestocustomers

(62.19)

(318.30)

(1,402.95)

(1,783.44)

(134.29)

(383.81)

699.17

181.07

Debtinstrumentsmeasuredatam

ortisedcost

-

-

DebtinstrumentsmeasuredatFVOCI

(15.19)

(15.19)

1.60

1.60

Loancommitments

-

-

Tradereceivables

-

-

Tota

lim

pair

mentlo

ss

(77.38)

(318.30)

(1,402.95)

(1,798.63)

(132.69)

(383.81)

699.17

182.67

Thetable

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s

(ìnLacs)

Part

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SalariesandWages

5,480.73

3,852.43

Contributiontoprovidentandotherfund

187.57

172.19

Gratuityexpenses

45.30

54.38

Sharebasedpaymentstoemployees

9.87

4.35

Staffwelfareexpenses

172.19

172.98

Tota

l

5,8

95.6

6

4,2

56.3

3


Note34:Otherexpenses( inLacs)`

Particulars FortheYearEnded FortheYearEnded 31March,2019 31March,2018

Rent(net) 629.58 511.90

Printing&stationery 88.38 89.27

Travellingandconveyance 496.99 382.41

Books&periodicals 0.70 1.97

Meetingexpenses 2.34 2.98

Businesspromotion 32.77 30.82

Businesscommission 317.15 355.86

Communication 131.76 116.54

Director'ssittingfees 5.65 5.94

Electricity 89.41 95.50

Insurance 16.20 14.55

Bankcharges 20.06 20.12

Paymenttoauditors

-Auditfees 18.13 16.49

-Outofpocketexpenses 1.81 2.93

Professionalandconsultancy 1,245.81 1,763.53

Registration&�ilingfees 3.53 5.82

Of�icemaintenance 282.33 245.71

Postage&courier 52.24 59.45

Rates,duties&taxes 13.72 9.63

Membershipfees 6.86 6.19

PremiumonPTCwrittenoff - 1.18

MortgageGuaranteeFees 292.48 2.19

Royalty 135.85 177.50

Corporatesocialresponsibility 1.15 3.60

Lossonsaleof�ixedassets 22.53 0.54

Advertisement 6.48 26.85

Collection&recovery 533.71 664.64

Loanprocessingexpenses 577.73 419.38

Miscellaneousexpenditure 25.18 55.25

Total 5,050.53 5,088.74

Note33:Depreciation,Amortization&Impairment( inLacs)`


DepreciationofTangibleAssets 188.99 187.84

AmortizationofIntangibleAssets 43.51 5.26

Total 232.50 193.10


*Paymenttoauditor(netofservicetax)( inLacs)`


Asauditor: Auditfee 18.13 16.49

Otherservices(certi�icationfees) - -

Reimbursementofexpenses - -

**CorporateSocialResponsibilityexpenditure:

GrossamounttobespentbytheCompanyundersection135oftheCompaniesAct,2013,ason31March,2019 84.57Lacs.

Amountspentduringtheyearon:

( inLacs)`

Particulars Incash Yettobepaidincash Total

(i) Construction/acquisitionofanyasset - - -

(ii)Onpurposeotherthan(i)above 1.15 - 1.15

GrossamounttobespentbytheCompanyundersection135oftheCompaniesAct,2013ason31March,2018 76.36Lacs.

Amountspentduringtheyearon:( inLacs)`

Particulars Incash Yettobepaidincash Total

(i) Construction/acquisitionofanyasset - - -

(ii)Onpurposeotherthan(i)above 3.60 - 3.60


Note35:IncomeTax

Thecomponentsofincometaxexpensefortheperiodsended31March2019and31March2018are:( inLacs)`

Reconciliationofthetotaltaxcharge:

Thetaxchargeshowninthestatementofpro�itandlossdiffersfromthetaxchargethatwouldapplyifallpro�itshadbeen charged at India corporate tax rate. A reconciliation between the tax expense and the accounting pro�itmultipliedbyIndia'sdomestictaxratefortheperiodsended31March2019and31March2018is,asfollows:

( inLacs)`


Pro�itbeforetax 2,507.27 5,801.56

Statutoryincometaxrate 33.384% 34.608%

Expectedincometaxexpense 837.03 2,007.80

Taxeffectofadjustmenttoreconcileexpectedincometaxexpensetoreportedincometaxexpense

Effectofchangeintaxrate 11.55 -

Earlieryeartaxeffect - (50.62)

CorporateSocialResponsibility 0.38 0.62

Others (6.82) 7.41

Incometaxexpensereportedinthestatementofpro�it&Loss 842.14 1,965.21

DeferredTax

ThefollowingtableshowsdeferredtaxrecordedinthebalancesheetandchangesrecordedintheIncometaxexpense:

( inLacs)`

Particulars DeferredTax Income OCI DeferredTax Asat31MarchStatement 2018-19 Asat31March 2018 2018-19 2019

DeferredTaxAsset/(Liabilities)inrelationto:

PropertyPlantEquipments&IntangibleAssets 9.04 (4.32) - 13.36

ECLprovisionagainstLoans&Advances&Investments 1,493.62 1,478.87 - 14.75

UnamortizedIncome 230.43 93.98 - 136.45

InterestIncomeonNPA (395.60) (395.60) - -

ProvisionforEmployeebene�its 43.45 (33.74) (29.77) 47.41

UnamortizedExpenses (285.69) (113.11) - (172.58)

Unrealisedgains/lossonsecurities - 7.70 - (7.70)

ProvisionforleaseRental 32.90 (7.83) - 40.72

EIRimpactonborrowings (98.01) (31.37) - (66.64)

MATEntitlementCredit - (519.89) - 519.89

SpecialReserveu/s361(viii) (708.01) (36.27) - (671.73)

EffectofUnabsorbedbusinessloss - (16.76) - 16.76

Others 5.50 (6.48) - 11.98

Total 327.63 415.19 (29.77) (117.33)


Currenttax 519.89 1,337.56

Taxrelatingtoearlieryears (92.94) 172.44

Deferredtax 415.19 455.21

Totaltaxcharge 842.14 1,965.21


Particulars DeferredTax Income OCI DeferredTax Asat01April Statement 2017-18 Asat31March 2017- 2017-18 2018 Opening

DeferredTaxAsset/(Liabilities)inrelationto:

PropertyPlantEquipments&IntangibleAssets (2.38) (11.42) - 9.04

ECLprovisionagainstLoans&Advances&Investments 1,404.11 (89.51) - 1,493.62

UnamortizedIncome 267.92 37.49 - 230.43

InterestIncomeonNPA (139.29) 256.31 - (395.60)

ProvisionforEmployeebene�its 29.90 (16.43) (2.88) 43.45

UnamortizedExpenses (78.10) 207.59 - (285.69)

Unrealisedgains/lossonsecurities (0.17) (0.17) - -

ProvisionforleaseRental 22.48 (10.41) - 32.90

EIRimpactonborrowings (133.49) (35.48) - (98.01)

MATEntitlementCredit - - - -

SpecialReserveu/s361(viii) (589.26) 118.76 - (708.01)

EffectofUnabsorbedbusinessloss - - - -

Others 3.98 (1.52) - 5.50

Total 785.70 455.21 (2.88) 327.63

( inLacs)`



NOTESTOFINANCIALSTATEMENTSFORTHEYEARENDED31MARCH,2019

Note36:Earningspershare

Particulars YearEnded YearEnded 31March,2019 31March,2018

Netpro�itattributabletoordinaryequityholdersofthe 1,665.13 3,836.35parent(`inLacs)

Weightedaveragenumberofordinarysharesforbasic 2,141.60 2,141.60earningspershare

Effectofdilution: - -

StockoptionsgrantedunderESOP(Nos.) 10.05 1.31

Weightedaveragenumberofordinarysharesadjusted 2,151.65 2,142.91foreffectofdilution

Earningspershare

Basicearningspershare(`) 0.78 1.79

Dilutedearningspershare(`) 0.77 1.79




Note37:EmployeeStockOptionScheme(ESOS)

Thecompanyprovidesshare-basedpaymentschemestoitsemployees.FortheyearendedMarch31,2019followingEmployeeStockOptionPlans(ESOPs)wereinexistence.Therelevantdetailsoftheschemesandthegrantsareasbelow:

Detailsof ESOPScheme ESOPScheme ESOPScheme EmployeeStockOptionSchemes 2016 2013 2013

DateofShareholder'sapprovalofplan December13,2016 March28,2013 March28,2013

Dateofgrant December22,2016 August28,2013 December19,2018 &April20,2015

Numberofoptionsgranted 3,35,000 3,50,000 25,00,000

Methodofsettlement Equity Equity Equity

VestingPeriod 1-3years 3-5years 3-10years

ExercisePrice 35.00 10.00 10.00

ExercisePeriod Notlaterthan5yearsfromthedateofvestingofoptions

VestingConditions Employeeremainingintheemploymentoftheenterprise duringthevestingperiod

DetailsofVesting

Vestingperiodfromthegrantdate ESOPScheme ESOPScheme ESOPScheme 2016 2013 2013

Completionof1year 33.33% - -

Completionof2year 33.33% - -

Completionof3year 33.33% - 12.50%

Completionof4year - 50% 12.50%

Completionof5year - 50% 12.50%

Completionof6year - - 12.50%






Particulars ESOPScheme2016 ESOPScheme2013 ESOPScheme2013

No.of Weighted No.of Weighted No.of Weighted Options Avg. Options Avg. Options Avg. Exercise Exercise Exercise Price Price Price

Outstandingasat1April,2017 3,35,000 35.00 4,00,000 10.00 - -

Grantedduringtheyear - - - - - -

Forfeitedduringtheyear - - (50,000) - - -

Exercisedduringtheyear - - - - - -

Outstandingasat 3,35,000 35.00 3,50,000 10.00 - -31March,2018

Vestedandexercisableas 1,11,667 35.00 1,25,000 10.00 - -at31March,2018

Weightedaverageremaining - 5.73Years - 5.38Years - -contractuallife(inyears)

Outstandingasat1April,2018 3,35,000 35.00 3,50,000 10.00 - -

Grantedduringtheyear - - - - 25,00,000 10.00

Forfeitedduringtheyear (3,35,000) 35.00 (1,70,000) 10.00 - -

Exercisedduringtheyear - - - - - -

Outstandingasat - - 1,80,000 10.00 25,00,000 10.0031March,2019

Vestedandexercisableas - - 1,50,000 10.00 - -at31March,2019

Weightedaverageremaining - - - 4.19Years - 11.22Yearscontractuallife(inyears)

Detailsofactivityundereachplan

Thevalueoftheunderlyingshareshasbeendeterminedbyanindependentvaluer.ThefollowingassumptionswereusedforcalculationoffairvalueofgrantsinaccordancewithBlackScholesmodel,foroptionsgrantedduringthe�inancialyear:

Particulars Yearended31March,2019

Risk-freeinterestrate 7.08%-7.68%

Expectedlifeofoptions(years)[(yeartovesting)+(contractualoptionterm)/2] 5.5-12.5Years

Expectedvolatility(%) 36.58%-42.21%

Dividendyield 0%

TheriskfreeinterestratesaredeterminedbasedontheGovernmentbondyieldswithmaturityequaltotheexpectedtermoftheoption.Volatilitycalculationisbasedonhistoricalstockpricesofcomparablelistedcompaniesusingstandarddeviationofdailychangeinstockprice.Thehistoricalperiodistakenintoaccounttomatchtheexpectedlifeoftheoption.Dividendyieldhasbeenconsideredtakingintoaccountthehistoricalandexpectedrateofdividendonequitysharepriceasongrantdate.

Theexpenserecognisedforemployeeservicesreceivedduringtheyearisshowninthefollowingtable:


Expensearisingfromequity-settledsharebasedpaymenttransactions 9.87 4.35

Expensearisingfromcash-settledsharebasedpaymenttransactions - -

Totalexpensearisingfromsharebasedpaymenttransactions 9.87 4.35




Note38:Retirementbene�itplan

De�inedContributionPlan

The Company makes Provident Fund and Employee State Insurance Scheme contributions which are definedcontributionplans,forqualifyingemployees.UndertheSchemes,theCompanyisrequiredtocontributeaspecifiedpercentageofthepayrollcoststofundthebenefits.TheCompanyrecognized 170.98LacsforyearendedMarch31,2019(Y.E.31March2018 150.94Lacs)forProvidentFundcontributionsand 16.58LacsfortheyearendedMarch31,2019(Y.E.31March2018`21.25Lacs)forEmployeeStateInsuranceSchemecontributionsintheStatementofProfitandLoss.ThecontributionspayabletotheseplansbytheCompanyareatratesspecifiedintherulesoftheSchemes.

De�inedBene�itPlan

TheCompanyhasade�inedbene�itgratuityplan.Everyemployeewhohascompleted�iveyearsofserviceiseligibleforagratuityonseparationat15daysbasicsalary(lastdrawnsalary)foreachcompletedyearofservice.Theschemeisfundedwiththeinsurancecompaniesintheformofqualifyinginsurancepolicy.Duringtheyear2015-16theCompanycreated"ShriramHousingFinanceCompanyEmployees'GroupGratuityFund".TheTrustisrecognisedbyincometaxauthoritiesandadministeredthroughTrustees.ContributionstotheTrustareinvestedinaschemewithainsuranceCompanyaspermittedbylawinIndia.TheCompanyhascontributed NiltotheTrustduringthe�inancialyear2018-19.(F.Y2017-18 35.02Lacs)

Thefollowingtablessummariesthecomponentsofnetbenefitexpenserecognizedinthestatementofprofitandlossandthefundedstatusandamountsrecognizedinthebalancesheetforthegratuityplan.

StatementofPro�itandLoss

Netemployeebenefitexpenserecognisedintheemployeecost.

( inLacs)`

*Gratuityexpensesaspernote32ofthestatementofPro�itandLossfortheyearendedMarch31,2019isafterprovidingforshortfallinGratuityFundaccount.

BalanceSheet

Reconciliationofpresentvalueoftheobligationandthefairvalueofplanassets:

( inLacs)`

*FairValueofAssetsinexcessofGratuityProvisionason31March,2019disclosedunder"Note16-OtherNonFinancialAssets"isafternettingoffamountpaidtotrust.


Currentservicecost 43.85 36.13

Interestcostonbene�itobligation 13.87 13.15

Expectedreturnonplanassets (12.42) -

Net(bene�it)/expense 45.30 49.28

Particulars Asat Asat 31March,2019 31March,2018

De�inedbene�itobligation (144.44) (191.06)

Fairvalueofplanassets 158.54 180.03

Asset/(liability)recognizedinthebalancesheet 14.10 (11.03)


Changesinthepresentvalueofthedefinedbenefitobligationareasfollows:

( inLacs)`


Openingde�inedbene�itobligation 191.06 150.42

Transferin/Out 20.10 -

Interestcost 13.87 13.15

Currentservicecost 43.85 36.13

Liabilitytransferredin/onaccountoftransferofemployeesBene�itspaid (35.25) (0.32)

Actuarialloss/(gain)onobligation (89.19) (8.32)

Closingde�inedbene�itobligation 144.44 191.06

Changesinthefairvalueofplanassetsareasfollows:

( inLacs)`


Openingfairvalueofplanassets 180.03 150.42

InterestIncome 12.42 -

Expectedreturn 1.34 10.19

Contributionsbyemployer - 35.02

Bene�itspaid (35.25) (15.60)

Closingfairvalueofplanassets 158.54 180.03

TheCompanyintendstocontributetothetrusttheamountaspertheactuarialvaluationinthenextyear.

Themajorcategoriesofplanassetsasapercentageoffairvalueoftotalplanassetsareasfollows:


Investmentswithinsurer 100% 100%

TheprincipalassumptionsusedindetermininggratuityobligationsfortheCompany'splansareshownbelow:


Discountrate 7.65% 8.00%

Increaseincompensationcost 5.00% 5.00%

Attritionrate 5.00% 5.00%


The estimates of future salary increases, considered in acturial valuation are on account of in�lation, seniority,promotionandotherreleventfactor,suchassupplyanddemandintheemploymentmarket.Theoverallexpectedrateofreturnonassetsisdeterminedbasedonthemarketpricesprevailingonthatdate,applicabletotheperiodoverwhichtheobligationistobesettled.

Amountsforthecurrentperiodandpreviousfouryearsareasfollows:

( inLacs)`

Particulars Asat Asat Asat Asat Asat 31March 31March 31March 31March 31March 2019 2018 2017 2016 2015

De�inebene�itobligation 144.44 191.06 150.42 103.09 37.79

Planassets 158.54 180.03 150.42 - -

Surplus/(de�icit) 14.10 (11.03) - (103.09) (37.79)

( inLacs)`

Assumptions AsatMarch,2019 AsatMarch,2019 AsatMarch,2018 AsatMarch,2018 Discountrate Futuresalary Discountrate Futuresalary increases increases

1% 1% 1% 1% 1% 1% 1% 1% Increase Decrease Increase Decrease Increase Decrease Increase Decrease

SensitivityLevelImpactonde�ined (13.35) 15.50 15.69 (13.64) (16.43) 19.21 20.69 (17.94)bene�itobligation

( inLacs)`

Expectedpaymentforfutureyears Asat Asat 31March,2019 31March,2018

Withinthenext12months(nextannualreportingperiod) 5.75 29.40

Between2and5years 36.94 42.56

Between5and10years 72.82 74.32

Totalexpectedpayments 115.51 146.28

Theweightedaveragedurationofthede�inedbene�itobligationasat31March,2019is14.74Years(31March,2018:14.44Years).

The fund isadministeredby"ShriramHousingFinanceCompanyEmployeesGroupGratuityTrust".Theoverallexpectedrateofreturnonassetsisdeterminedbasedonthemarketpricesprevailingonthatdate,applicabletotheperiodoverwhichtheobligationistobesettled.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority,promotionandotherrelevantfactors,suchassupplyanddemandintheemploymentmarket.

TheprincipalassumptionsusedindeterminingleaveencashmentobligationsfortheCompany'splansareshownbelow:


Discountrate 7.65% 8.00%

Attritionrate 5.00% 5.00%

Salaryescalation 5.00% 5.00%

ThediscountrateisbasedontheprevailingmarketyieldsofGovernmentofIndiasecuritiesasatthebalancesheetdatefortheestimatedtermoftheobligations.

Theestimateoffuturesalaryincreasesconsidered,takesintoaccounttheinflation,seniority,promotion,incrementsandotherrelevantfactors.


NO

TEST

OF

INA

NCIA

LS

TAT

EM

EN

TSF

OR

TH

EY

EA

RE

ND

ED

31M

AR

CH

,2019

Note

39:M

atu

rity

analy

sis

ofass

ets

andlia

bil

itie

s

Thetablebelowshowsananalysisofassetsandliabilitiesanalysedaccordingtowhentheyareexpectedtoberecoveredorsettled.

(`inLacs)

SH

RIR

AM

HO

USIN

GF

INA

NCEL

IMIT

ED

Part

icula

rs

As

at31M

arc

h,2

019

As

at31M

arc

h,2

018

As

at01A

pri

l,2

017-O

penin

g

Wit

hin

12

Aft

er

12

Tota

lW

ithin

12

Aft

er

12

Tota

lW

ithin

12

Aft

er

12

Tota

l

m

onth

sm

on

ths

m

on

ths

mon

ths

m

onth

sm

onth

sA

SSET

SFin

an

cialA

ssets

Cashandcashequivalents

1,447.12

-

1,447.12

536.94

-

536.94

491.12

-

491.12

BankBalanceotherthanabove

27.63

110.00

137.63

25.95

110.00

135.95

-

-

-

Loans

14,858.08

1,67,306.05

1,82,164.13

12,614.22

1,62,024.55

1,74,638.77

10,877.22

1,62,162.69

1,73,039.91

Investments

17,741.29

4,113.72

21,855.01

2,597.26

7,323.56

9,920.82

3,123.07

5,796.85

8,919.92

Receivables

4.07

-

4.07

13.44

-13.44

2.99

-2.99

Other�inancialassets

54.56

298.36

352.92

40.30

315.31

355.61

3,287.83

76.73

3,364.56

Non

-�in

an

cialA

ssets

Deferredtaxassets(net)

-

-

-

-

327.63

327.63

-

785.70

785.70

Currenttaxasset

-

1,404.77

1,404.77

-

456.11

456.11

-

440.92

440.92

InvestmentProperty

-

0.28

0.28

-

0.28

0.28

-

0.28

0.28

Property,plantandequipment

-

698.25

698.25

-

750.95

750.95

-

509.80

509.80

Capitalwork-in-progress

-

-

-

-

11.05

11.05

-

98.64

98.64

Otherintangibleassets

-

330.50

330.50

-

129.67

129.67

-

3.34

3.34

Othernon�inancialassets

8,529.39

622.72

9,152.11

6,049.51

824.67

6,874.18

1,056.54

183.65

1,240.19

Tota

lA

ssets

42,6

62.1

4

1,7

4,8

84.6

5

2,1

7,5

46.7

9

21,8

77.6

2

1,7

2,2

73.7

8

1,9

4,1

51.4

0

18,8

38.7

7

1,7

0,0

58.6

0

1,8

8,8

97.3

7

LIA

BIL

ITIE

SFin

an

cialLia

bil

itie

s

Tradepayables

1,123.03

-

1,123.03

876.19

-

876.19

812.41

-

812.41

DebtSecurities

26,641.09

31,373.70

58,014.79

11,255.41

55,702.44

66,957.85

22,629.71

53,987.89

76,617.60

Borrowings(otherthandebtsecurity)

44,100.36

66,768.04

1,10,868.40

32,121.55

48,576.20

80,697.75

11,054.63

58,308.33

69,362.96

OtherFinancialliabilities

5.02

296.86

301.88

7.00

275.33

282.33

636.90

-636.90

Non

-�in

an

cialLia

bil

itie

s

Provisions

243.66

183.25

426.91

242.31

122.92

365.23

200.10

208.63

408.73

Deferredtaxliabilities(net)

-

117.33

117.33

-

-

-

-

-

-

Othernon-�inancialliabilities

114.08

-

114.08

126.05

-

126.05

58.92

-

58.92

Tota

lLia

bil

itie

s72,2

27.2

4

98,7

39.1

8

1,7

0,9

66.4

2

44,6

28.5

1

1,0

4,6

76.8

9

1,4

9,3

05.4

0

35,3

92.6

7

1,1

2,5

04.8

5

1,4

7,8

97.5

2

Net

(2

9,5

65.1

0)

76,1

45.4

7

46,5

80.3

7

(22,7

50.8

9)

67,5

96.8

9

44,8

46.0

0

(16,5

53.9

0)

57,5

53.7

5

40,9

99.8

5




Note40:Contingentliabilities,commitmentsandleasingarrangements

(A)ContingentLiabilities

Changesinthepresentvalueofthedefinedbenefitobligationareasfollows:

( inLacs)`

Particulars Asat Asat Asat 31March,2019 31March,2018 01April,2017-Opening

IncomeTax 49.20 0.00 0.00

Disputedincometaxdemandisonaccountofdisallowanceofroyaltyasanexpenseandbytreatingitasintangible

asset. The above demands are determinable only on receipt of judgements/decisions pending with various

forums/authorties.Thecompanyisoftheopinionthattheabovedemandsarenotsustainableandexpectstosucceed

initsappeals.

(B)Commitments

( inLacs)`

Particulars Asat Asat Asat 31March,2019 31March,2018 01April,2017-Opening

Estimatedamountofcontractremainingto - 4.78 46.79beexecutedoncapitalaccount

UndrawnCommitments 6,707.40 8526.45 14349.82

(C)LeaseDisclosures

OperatingLease:Officepremisesareobtainedonoperatingleasewhicharecancellableinnature.Operatingleasepaymentsarerecognizedasanexpenseinthestatementofprofitandloss.Futureminimumleasepaymentsundernon-cancellableoperatingleasesasatMarch31,2019areasfollows:

( inLacs)`


Withinoneyear 542.68 501.38

Afteroneyearbutnotmorethan�iveyears 407.06 922.15

Morethan�iveyears 7.84 35.43

Total 957.58 1458.96


NO

TEST

OF

INA

NCIA

LS

TAT

EM

EN

TSF

OR

TH

EP

ER

IOD

EN

DED

31M

AR

CH

,2019

Note

41:R

ela

tedp

art

yd

iscl

osu

res

SH

RIR

AM

HO

USIN

GF

INA

NCEL

IMIT

ED

Rela

tion

ship

N

am

eo

fth

ep

art

y

SubsidiaryCompany

HoldingCompany

ShriramCityUnionFinanceLim

ited(SCUF)

Enterpriseshavingsigni�icantin�luenceovertheCompany

ShriramCapitalLim

ited(SCL),ShriramOwnershipTrust(SO

T),ValiantMauritiusPartnersFDILtd.

(VMPL),ShriramValueServicesLtd(SVS),ShriramFortuneSolutionsLim

ited(SFSL),ShriramFinancial

ProductsSolutions(Chennai)PrivateLim

ited(SFPS),ShriramGeneralInsuranceCompanyLim

ited(SGIL),

ShriramInsightShareBrokersLim

ited(SISBL),ShriramLifeInsuranceCompanyLim

ited(SLIC).

Associates/Enterprisesownedorsigni�icantlyin�luenced

Mr.SubramanianJam

bunathan(MDandCEO)##,M

r.SujanSinha(MDandCEO)#,

bykeymanagem

entpersonnelortheirrelatives

MrKankshitMunshi(CFO)*,M

r.KunalShah(CFO)^,MrKunalKarnani(CFO)^^,

KeyManagem

entPersonnelofCompany

Ms.NikitaHule(CompanySecretary),MsMagesweriPasupathy(CompanySecretary)$,

Ms.QuadsiaGandhi$$,M

r.VMurali,M

sLakshminaryananPriyadarshini**

KeyManagem

entPersonnelofHoldingCompany

Mr.DuruvasanRam

achandra(MD&CEO),Mr.Ram

asubramanianChandrasekar(CFO),

Mr.ChittaRanjanDash(CS)

RelativesofKeyManagem

entPersonnel

Ms.DhariniM

aniSubramanian(SpouseofManagingDirector),

(needtocheckdefofrelatives&tobereported)

LateMr.Krishnaw

amyJam

bunathan(FatherofManagingDirector)

Ms.PadmavathiJam

bunathan(MotherofManagingDirector),

Ms.AnushaSubramanian(DaughterofManagingDirector),

Mr.Jam

bunathanKrishnan(BrotherofManagingDirector)


Rela

tedP

art

ytra

nsa

ctio

ns

duri

ngthey

ear:

(`inLacs)

Part

icula

rs

Hold

ingC

om

pany

Ass

oci

ate

s/E

nte

rpri

ses

K

eyM

anagem

entPers

onnel

Rela

tives

ofK

eyM

anagem

ent

ow

nedo

rsi

gn

i�ic

an

tly

Pers

onnel

in

�luen

ceo

ver

thec

om

pany

As

at

As

at

As

at

As

at

As

at

As

at

As

at

As

at

As

at

As

at

As

at

As

at

31M

arc

h

31M

arc

h

1A

pri

l31M

arc

h

31M

arc

h

1A

pri

l31M

arc

h

31M

arc

h

1A

pri

l31M

arc

h

31M

arc

h

1A

pri

l

2019

2018

2017

2019

2018

2017

2019

2018

2017

2019

2018

2017

Deben

ture

san

dS

ubord

inate

B

on

dr

edeem

edd

uri

ngthey

ear

Equit

yc

on

trib

uti

on

ShriramCityUnionFinanceLim

ited

16,544.00

16,544.00

16,544.00

(SCUF)

PercentageHolding

77.25%

77.25%

77.25%

ValiantMauritiusPartnersFDILtd.

4,872.00

4,872.00

4,872.00

(VMPL)

PercentageHolding

22.75%

22.75%

22.75%

Inte

rest

expen

se

SCUF-IntercorporateLoan

255.92

-

-

Com

mis

sion

toD

irect

ors

-

-

-

-

-

-

-

-

-

-

-

-

Rem

un

era

tion

toD

irect

ors

(S

itti

ngF

ees)

Ms.QuadsiaGandhi$$

0.8

0

3.1

9

1.2

9

Mr.VMurali

2.60

2.75

1.94

MsLakshminaryananPriyadarshini**

1.80

-

-

Rem

un

era

tion

too

ther

KM

Ps

EmployeeBene�its-MrSujanSinha-

41.89

100.62

134.63

shorttermbene�it

EmployeeBene�its-MrSujanSinha-

(1.51)

1.74

0.53

sharebasedpayment

EmployeeBene�its-

39.50

26.91

-

MrKankshitMunshi^

EmployeeBene�its-MrKunalShah

-

5.01

74.15

EmployeeBene�its-MsNikitaHule

12.03

9.14

6.56

EmployeeBene�its-MsMagesweri

--

0.51

Pasupathy

EmoloyeeBene�its-Mr.Subramanian

61.24

-

-

Jambunathan-ShortTermBene�it

EmoloyeeBene�its-Mr.Subramanian

14.12

-

-

Jambunathan-ShareBasedPayment

EmoloyeeBene�its-Mr.KunalKarnani

18.55

-

-


Reim

burs

em

en

tofR

en

t&

Expen

ses

Rent-SCUF

84.5

3

60.09

17.96

Rent-SCL

-

43.45

190.51

Rent-SFSL

0.75

0.60

-

Rent-SFPS

1.06

--

Rent-SISBL

-

-2.43

Expensesreim

bursem

ents-SCUF

63.1

7

31.88

12.14

-

-

-

Expensesreim

bursem

ents-SCL

-

-

30.98

58.13

Expensesreim

bursem

ents-SFPS

0.19

Expensesreim

bursem

ents-SGIL

17.19

15.46

13.66

Expensesreim

bursem

ents-SISBL

1.03

1.27

1.18

Expensesreim

bursem

ents-SLIC

15.41

11.30

10.46

Expensesreim

bursem

ents-SVS

1,210.13

940.69

494.56

Commission-SCUF

0.11

1.02

--

-

Commission-SISBL

-

0.18

1.76

RoyaltyFees-SO

T

-

-

148.52

257.18

256.94

Oth

er

Paym

en

ts

SecurityDepositofBranches-SCL

9.53

-

TransferofliabilityforGratuity/

6.98

Leave-SCUF

Oth

er

Rece

ipts

SecurityDeposit-SCUF

-157.94

-

--

-

TransferofliabilityforGratuity/

32.64

-

23.69

Leave-SCUF

Ren

tR

ece

ived

Rent-SCUF

302.22

299.79

210.25

Rent-SFSL

3.47

2.21

Rent-SISBL

0.57

1.15

Purc

hase

ofass

ets

PurchaseofAssets-SCL

-

53.75

-

Ren

t,E

lect

rici

ty,t

ele

phon

ea

nd

pri

nti

ngc

harg

es

Rece

ived

Expensesreim

bursem

ent-SCUF

15.26

16.22

35.94

Expensesreim

bursem

ent-SFSL

-

2.00

Expensesreim

bursem

ent-SISBL

0.09

0.24

Corp

ora

teloan

rece

ivedfro

m

IntercorporateLoan-SCUF

16,500.00

Repaym

en

tofCorp

ora

teloan

re

ceiv

edfro

m

IntercorporateLoan-SCUF

16,500.00


Bala

nce

outs

tan

din

ga

sat

they

ear

en

d:

ShareCapital-SCUF

16,544.00

16,544.00

16,544.00

ShareCapital-VMPL

-

-

4,872.00

4,872.00

4,872.00

OutstandingExpenses-SCUF

16.57

11.40

-

-

-

ExpensesReceivable-SCUF

32.64

-

25.04

-

-

SecurityDeposit-SCUF

275.33

275.33

117.39

-

-

OutstandingExpenses-SCL

-

-

-

65.91

OutstandingExpenses-SO

T

-

-

135.93

89.71

18.80

ExpensesReceivable-SFSL

0.31

1.53

ExpensesPayable-SFSL

0.06

ExpensesPayable-SFPS

0.14

ExpensesReceivable-SISBL

-

1.29

-

ExpensesPayable-SISBL

1.19

0.24

-

ExpensesPayable-SVS

1.73

141.86

1.00

Corp

ora

teloan

Outs

tan

din

g

-

#CeasedtobeMD&CEOw.e.f.31.08.2018

##AppointedasMD&CEOw.e.f.20.11.2018

*CeasedtobeChiefFinancialOf�icerw.e.f.19.11.2018

^CeasedtobeChiefFinancialOf�icerw.e.f.23.04.2017

^^AppointedasChiefFinancialOf�icerw.e.f.21.01.2019

$CeasedtobeCompanySecretaryw.e.f12.07.2016

$$CeasedtobeaDirectorw.e.f.23.05.2018

**AppointedasaDirectorw.e.f.16.10.2018

Note

:a)Relatedpartieshavebeenidentifiedonthebasisofthedeclarationreceivedbythemanagem

entandotherrecordsavailable.

b)TheloanshavebeenutilisedbytheShriramforlendingHomeLoanandmeetingtheworkingcapitalrequirem

ents.

c)Theremunerationtothekeymanagerialpersonneldoesnotincludetheprovisionsmadeforgratuityandleavebenefits,astheyaredeterminedonanactuarialbasisforthecompanyasawhole.

d)3,35.000Stockoptionsgrantedon22ndDecem

ber2016of"ESO

P2016Schem

e"havelapsed

e)25,00,000Stockoptionshavebeengrantedon19thDecem

ber2018of"ESO

P2013Schem

e"andsam

ecanbeexcercisednotlaterthan5yearsfromdateofvestingofoptions.




Note42:Capital

CapitalManagement

TheprimaryobjectivesoftheCompany'scapitalmanagementpolicyaretoensurethattheCompanycomplieswithexternallyimposedcapitalrequirementsandmaintainsstrongcreditratingsandhealthycapitalratiosinordertosupportitsbusinessandtomaximiseshareholdervalue.

TheCompanymanagesitscapitalstructureandmakesadjustmentstoitaccordingtochangesineconomicconditionsandtheriskcharacteristicsofitsactivities.Inordertomaintainoradjustthecapitalstructure,theCompanymayadjusttheamountofdividendpaymenttoshareholders,returncapitaltoshareholdersorissuecapitalsecurities.Nochangeshavebeenmadetotheobjectives,policiesandprocessesfromthepreviousyears.However,theyareunderconstantreviewbytheBoard.

( inLacs)`

Regulatory capital consists of CET 1 capital, which comprises share capital, share premium, retained earningsincludingcurrentyearpro�it.CertainadjustmentsaremadetoIndAS–basedresultsandreserves,asprescribedbythe National Housing Bank. The other component of regulatory capital is other Tier 2 Capital, which includesprovisionforstandardassets.

RegulatoryCapital Asat Asat Asat 31March,2019 31March,2018 01April,2017-Opening

CommonEquityTier1(CET1)capital 45,400.79 43,408.45 39,933.45

OtherTier2capitalinstruments 1,486.47 1,862.11 2,352.49

TotalCapital 46,887.26 45,270.56 42,285.94

CET1capitalratio 28.99 31.66 27.34

Totalcapitalratio 29.94 33.02 28.95


Note43:FairValueMeasurement-FinancialAssetsandLiabilities

Thissectiongivesanoverviewofthesigni�icanceof�inancialinstrumentsfortheCompanyandprovidesadditionalinformationonthebalancesheet.

FinancialAssetsandLiabilities

Thecarryingvalueof�inancialinstrumentsbycategoriesandvaluationhierarchyasatMarch31,2019isasfollows:

( inLacs)`

*FixedRateLoans&Advanceshavingcarryingvalueof 2,210.54Lacs(FairValue 2,188.66Lacs)on31March,2019havebeenincludedabove.

Particulars Carrying FairValue Amount

Asat31March Level1 Level2 Level3 2019

Financialassetsatamortisedcosts:Cashandcashequivalents 1,447.12

BankBalanceotherthanabove 137.63

Receivables 4.07

Loans* 1,82,164.13 2,188.66

OtherFinancialassets 352.92

Financialassetsatfairvaluethroughpro�itorloss:InvestmentsinMutualFunds 16,023.03 16,023.03

InvestmentsinSecurityReceipts 1,858.44 1,858.44

FinancialassetsatfairvaluethroughOCI:InvestmentsinPassthroughCerti�icate 3,978.28 3,978.28

Total 2,05,965.62 18,211.69 5,836.72 -

FinancialLiabilitiesatamortisedcosts:TradePayables 1,123.03

DebtSecurities 58,014.79

Borrowings 1,10,868.40

OtherFinancialliabilities 301.88

Total 1,70,308.10 - - -

OffbalancesheetitemsOthercommitments 6,707.40

Totaloff-balancesheetitems 6,707.40 - - -


Thecarryingvalueof�inancialinstrumentsbycategoriesandvaluationhierarchyasatMarch31,2018isasfollows:

( inLacs)`


Asat31March Level1 Level2 Level3 2018

Financialassetsatamortisedcosts:Cashandcashequivalents 536.94

BankBalanceotherthanabove 135.95

Receivables 13.44

Loans** 1,74,638.77 2,604.09

OtherFinancialassets 355.61

Financialassetsatfairvaluethroughpro�itorloss:InvestmentsinMutualFunds - -

InvestmentsinSecurityReceipts 2,303.10 2,303.10


Total 1,85,621.41 2,604.09 9,940.70 -

FinancialLiabilitiesatamortisedcosts:TradePayables 876.19


Borrowings 80,697.75


Total 1,48,814.12 - - -



**FixedRateLoans&Advanceshavingcarryingvalueof`2,933.10Lacs(FairValue`2,604.09Lacs)on31March,2018havebeenincludedabove.


Thecarryingvalueof�inancialinstrumentsbycategoriesandvaluationhierarchyasatApril1,2017isasfollows:

( inLacs)`


Asat01April Level1 Level2 Level3 2017-Opening

Financialassetsatamortisedcosts:Cashandcashequivalents 491.12

BankBalanceotherthanabove -

Receivables 2.99

Loans 1,73,039.91

OtherFinancialassets 3,364.56

Financialassetsatfairvaluethroughpro�itorloss:InvestmentsinMutualFunds 1,800.48 1,800.48

InvestmentsinSecurityReceipts - -


Total 1,85,836.74 1,800.48 7,137.68 -

FinancialLiabilitiesatamortisedcosts:TradePayables 812.41


Borrowings 69,362.96


Total 1,47,429.87 - - -



Duringthereportingperiodending31March,2019and31March,2018therewasnotransferbetweenlevel2andlevel3fairvaluemeasurements.

Theinstrumentsincludedinlevel2offairvaluehierarchyhavebeenmeasuredbasedontheirnetassetvalue(NAV)aspublishedintheirperiodendstatement.

FairValueMeasurement-Non-Financialassets

Assetsheldforsalearenon-�inancialassetswhicharemeasuredatfairvaluethroughpro�itandloss.Atthetimeofinitialclassi�icationasassetsheldforsale,theseassetsaremeasuredatthelowerofcarryingamountandfairvaluelesscosttosell.Thefairvalueoftheassetsisdeterminedbyanindependentvaluer.Theseassetsarecarriedatthefairvaluedeterminedon initial recognition,unless thereare indicatorsof signi�icant changes in real estatemarketconditionrequiringare-valuation.

Thenon-recurringfairvaluemeasurementfortheassetsheldforsalehasbeencategorizedasaLevel2fairvaluebasedontheinputstothevaluationtechniquesused.RefernoteonAssetsheldonsalefordetails,NoteNo.16.

( inLacs)`

Particulars FairValueHierarcy-Level2

Asat Asat Asat 31March,2019 31March,2018 01April2017-Opening

Non-Financialassetsatfairvaluethroughpro�itorloss:Othernon�inancialassetsAssetsheldforSale 7,927.96 5,557.96 888.79

Total 7,927.96 5,557.96 888.79


Note44-RiskManagementNote

TheCompanyisregisteredwiththeNationalHousingBank(NHB),andisinthebusinessoflendingtoindividualsandnon individualclientswhetheronsecuredorunsecuredbasis.TheCompany facesvariousrisks in itsgamutofoperations.TheCompanyhasputinplaceaRiskManagementPolicytoensurethattherisksthattheCompanyfacesareidenti�iedanddealt/controlledinamannerthattheCompanycancontinueitsoperationsinapro�itableandsustainablemanner.

Risk-takingisaninherentelementofbusinessand,indeed,pro�itsareinparttherewardforsuccessfulrisktakinginbusiness.Ontheotherhand,excessiveandpoorlymanagedriskcanleadtolossesandthusendangerthesafetyoftheCompany. Accordingly, theCompanyplaces signi�icant emphasison theadequacyofmanagementof risk.Thisdocumentissettooutlinetheapproachtowardsriskandtheprocessofoversightandmanagementoftherisks.

TheRiskManagementpolicyhaslaiddownthevariousguidelinesforriskidenti�ication,measurement,monitoringandcontrolateachrisklevel.

TheBoardwouldhavetheultimateresponsibilityinrelationtotheoversightoftheriskmanagementprocess.TheBoardoftheCompanyalsodrawssupportfromtheAudit&Riskmanagementcommittee(ARMC)oftheBoardwhichprovidesoversightovertheriskmanagementprocess.TheARMChasputinplaceariskmanagementpolicywhichisimplementedintheCompany.

Seniormanagementwouldberesponsibleforimplementingstrategiesinamannerthatlimitsrisksassociatedwitheachstrategyandthatensurescompliancewithlawsandregulations,riskpoliciesandcontrollimits,onbothalong-termandday-to-daybasis.Accordingly,managementwouldbefullyinvolvedintheactivitiesandpossesssuf�icientknowledgeofallmajorproductstoensurethatappropriatepolicies,controls,andriskmonitoringsystemsareinplace and that accountability and lines of authority are clearly delineated. Seniormanagement would also beresponsibleforestablishingeffectiveinternalcontrolsandhighethicalstandards.

TheCompanyhasensuredthatadequatepoliciesandproceduresareinplaceforeachofthekeyrisks,furtheradetailedMISandmonitoringmechanismis inplace.FurthertheCompanyhasalsoput inplace internalcontrolmechanismstoreviewmonitorandcontrolrisks.

SomeofthekeyrisksfacedbytheCompanyinclude–

CREDITRISK:

CreditriskistheriskthattheCompanywillincuralossbecauseitscustomersorcounterpartiesfailtodischargetheircontractualobligations.TheCompanymanagesandcontrolscreditriskbysettinglimitsontheamountofriskitiswillingtoacceptforindividualcounterpartiesandforgeographicalandindustryconcentrations,andbymonitoringexposuresinrelationtosuchlimits.

CreditriskismonitoredbythecreditriskdepartmentoftheCompany'sindependentRiskControllingUnit.Itistheirresponsibility to review and manage credit risk, including environmental and social risk for all types ofcounterparties.Creditriskconsistsoflinecreditriskmanagerswhoareresponsiblefortheirbusinesslinesandmanagespeci�icportfoliosandexpertswhosupportboththelinecreditriskmanager,aswellasthebusinesswithtoolslikecreditrisksystems,policies,modelsandreporting.TheCompanyhasestablishedacreditqualityreviewprocesstoprovideearlyidenti�icationofpossiblechangesinthecreditworthinessoftheCustomer.

AdetailedcreditpolicyhasbeendesignedbytheCompanyforeachproducttypeandcustomersegment.

CREDITRISKONLOANSANDADVANCES:

Creditriskiscontrolledbyanalysingthecreditlimitsandcreditworthinessofthecustomeronacontinuousbasistowhom the credit has been granted after obtaining necessary approvals for credit. An impairment analysis isperformedateachreportingdateonaportfoliobasis.TheCompanyholdscollateralassecurityagainstalltheloansadvanced. The Company obtains the possession of these collaterals in case of default by customer tomeet itsobligation.Theseassetsarethensoldintorecovertheloanvalue.

TheimpairmentofthecreditriskontheloansiscarriedoutthroughadetailedECLmodel.TheECLmodelprovidesfortheECLona12monthECLbasisforstandardtostage1assetswhereasthesameiscalculatedbasedonalifetimeECLforstage2&3levelassets.TheECLiscalculatedbasedonaProbabilityofdefault(PD)XExposureatDefault(EAD)X(LossgivendefaultXdiscountrate–(LGD)).

CompanycalculatesthePDbytakingintoaccountthepasthistoricaltrendsoftheportfolioanditscreditperformancebased on a homogenous characteristic of the underlying portfolio. This is calculated based on a 12month PDperspective.IncaseofimpairedassetswherelifetimePDistobeapplied,thePDisextrapolatedtotakeintoaccounttheprobabilityofdefaultoverthelifetimeoftheasset.


Theexposureatdefault(EAD)representsthegrosscarryingamountof the �inancial instrumentssubject to theimpairmentcalculation,addressingboththeclient'sabilitytoincreaseitsexposurewhileapproachingdefaultandpotentialearlyrepaymentstoo.

TheLossGivenDefault(LGD)isreviewedbythecreditandcollectionsteamsevery3monthsifnotearlier.ThecreditriskassessmentisbasedonastandardisedLGDassessmentframeworkthatresultsinacertainLGDrate.TheseLGDratestakeintoaccounttheexpectedEADincomparisontotheamountexpectedtoberecoveredorrealisedfromanycollateralheld.

TheCompanysegmentsitsretaillendingproductsintosmallerhomogeneousportfolios,basedonkeycharacteristicsthatarerelevanttotheestimationoffuturecash�lows.Theapplieddataisbasedonhistoricallycollectedlossdataandinvolvesawidersetoftransactioncharacteristics(e.g.,producttype,widerrangeofcollateraltypes)aswellasborrowercharacteristics.

TheCompanycontinuouslymonitorsallassetssubjecttoECLsinordertodeterminewhetheraninstrumentoraportfolioofinstrumentsissubjectto12mECLorLTECL,theCompanyassesseswhethertherehasbeenaneventwhichcouldcauseasigni�icantly impairtotheunderlyingassetorthecustomersabilitytopayandaccordinglyincreasethe12monthsECLtoaLTECL.

CREDITRISKONPASSTHROUGHCERTIFICATES:

TheCompanycarriesoutinvestmentsinPassThroughCerti�icates(PTC).TheCompanyrecognisesthecreditriskinthePTCbyestimatingtheprobabilityofdefault(PD).Theinvestmentisclassi�iedasaStage1incasethereisnochangeinthecreditratingorachangeofonenotchinthecreditrating.12monthPDratesareappliedforStage1Investments.Furtherincasethereisahighernotchdownincreditrating,theinvestmentistakenasatStage2andlifetimePDisapplied.AnyinvestmentwhichisnonperformingorindefaultorrestructuredistakentobeasatStage3.

PDisestimatedbasedonvariousexternalinformationincludinginformationavailablethroughtheCRISILDefaultStudyReportsamongothers.TheExposureatDefault(EAD)isthecarryingvalueoftheinvestmentasatthereportingdate.TheLossGivenDefault(LGD)iscalculatedaspertheRBIFIRBreportwhichstipulatestheLGDratesforsecuredorunsecuredinvestments.

TheCompanycontinuestoevaluateotherexternalinformationanddataontheCompanyandtheunderlyingassetstoevaluateanychangestotheECLmethodologyapplied.

CREDITRISKONOTHERFINANCIALASSETS:

Creditriskfrombalanceswithbanksand�inancialinstitutionsismanagedbytheCompany'streasurydepartmentinaccordancewiththeCompany'spolicy.Investmentofsurplusfundsaremadeonlywithapprovedcounterpartiesandwithincreditlimitsassignedtoeachcounterparty.

LIQUIDITYRISK:

TheCompanymonitorsitsriskofashortageoffundsbyestimatingthefuturecash�lows.TheCompany'sobjectiveistomaintainabalancebetweencontinuityoffundingand�lexibilitythroughtheuseofbankoverdrafts,cashcreditfacilitiesandbankloans.ThetreasurydepartmentreportingintotheCFOmonitorsthecash�lowsonaregularbasis.TreasurydepartmentisdividedintotheresourcemobilisationandtheALMteam.Theresourcemobilisationteamreviewsthecash�lows,businessgrowthexpectedandaccordinglyworkswiththeALMTtoensurethatadequateliquidityisavailable.Adetailednoteonthematuritypro�ileoftheassetsandliabilitiesoftheCompanyisprovidedasperNote40tothe�inancialstatements.

INTERESTRATERISK:

Interestrateriskistheriskthatthefuturecash�lowsofa�inancialinstrumentwill�luctuatebecauseofchangesinmarketinterestrates.

Wearesubjecttointerestraterisk,principallybecausewelendtoclientsat�ixedinterestratesandforperiodsthatmaydifferfromourfundingsources,whileourborrowingsareatboth�ixedandvariableinterestratesfordifferentperiods. Weassessandmanageourinterestrateriskbymanagingourassetsandliabilities.OurAssetLiabilityManagementCommitteeevaluatesassetliabilitymanagement,andensuresthatallsigni�icantmismatches,ifany,arebeingmanagedappropriately.




Note45:First-timeadoptionofIndAS

These�inancialstatements,fortheyearended31March,2019thathasbeenpreparedinaccordancewithIndAS.Forperiods up to and including the year ended31March, 2018 the Companyprepared its �inancial statements inaccordancewithaccountingstandardsnoti�iedundersection133oftheCompaniesAct2013,readtogetherwithparagraph7oftheCompanies(Accounts)Rules,2014(IndianGAAPorpreviousGAAP).

Accordingly,thecompanyhasprepared�inancialstatementswhichcomplywithIndASapplicableforperiodsendingon31March,2019 togetherwith thecomparativeperioddataasatand for theyearended31March,2018asdescribedinthesummaryofsigni�icantaccountingpolicies.Inpreparingthese�inancialstatements,thecompany'sopeningbalancesheetwaspreparedasat1April,2017,thecompany'sdateoftransitiontoIndAS.ThisnoteexplainstheprincipaladjustmentsmadebythecompanyinrestatingitsIndianGAAP�inancialstatements, includingthebalancesheetasat1April,2017andthe�inancialstatementsasatandfortheyearended31March,2018.

ExemptionsApplied:

IndAS101allows�irst-timeadopterscertainexemptionsfromtheretrospectiveapplicationofcertainrequirementsunderIndAS.TheCompanyhasappliedthefollowingexemptions:

> AppendixCtoIndAS17requiresanentitytoassesswhetheracontractorarrangementcontainsalease.InaccordancewithIndAS17,thisassessmentshouldbecarriedoutattheinceptionofthecontractorarrangement.However,theCompanyhasusedIndAS101exemptionandassessedallarrangementsbasedonconditionsinplaceasatthedateoftransition.

> A�irst-timeadoptermayopttocontinuewiththecarryingvalueforallofitsPPEasrecognisedinitspreviousGAAP �inancial as deemed cost at the transition date. However, it makes necessary adjustments fordecommissioning liabilities tobe included in thecarryingvalueofPPE.TheCompanyhasused IndAS101exemption and continuedwith the carrying value as recognised in previous GAAP as deemed cost on thetransitiondate.

> Under Ind AS 109, if an entity measures a �inancial instrument on initial recognition based on valuationtechniquesthatonlyuseobservablemarketdataorcurrentmarkettransactionsinthesameinstrumentandthefairvalueatinitialrecognitionisdifferentfromthetransactionprice,thenitisrequiredtorecognisethe'dayone'gainorlossatinitialrecognitionofthis�inancialinstrument.IndAS101allowsanentitytoapplythe'dayone'gainorlossrecognitionrequirementofIndAS109prospectivelytotransactionsenteredintoonorafterthedateoftransitiontoIndAS.

TheCompanyhasoptedforthisexemptiontorecognisethe'dayone'gainorlossoninitialrecognitionarisingduetodifferenceintransactioncostandfairvalueprospectivelyfortransactionsenteredintoonorafterthedateoftransitiontoIndAS.

> IndAS109requiresa�inancialassettobemeasuredatamortisedcostifitmeetstwoteststhatdealwiththenatureofthebusinessthatholdstheassetsandthenatureofthecash�lowsarisingonthoseassets.A�irst-timeadoptermustassesswhethera�inancialassetmeetstheconditionsonthebasisofthefactsandcircumstancesthatexistatthedateoftransitiontoIndAS.

Ind AS 101 also containsmandatory exception related to classi�ication of �inancial assetwhich states thatconditionsforclassifying�inancialassetstobetestedonthebasisoffactsandcircumstancesexistingatthedateoftransitiontoIndASinsteadofthedateonwhichitbecomespartytothecontract.

TheCompanyhasoptedtoclassifyall�inancialassetsandliabilitiesbasedonfactsandcircumstancesexistingontransitiondate.

> AsperIndAS101–Anentityshallapplytheexceptiontotheretrospectiveapplicationincaseof“Derecognitionof �inancial assets and �inancial liabilities” wherein a �irst-time adopter shall apply the DerecognitionrequirementsinIndAS109prospectivelyfortransactionsoccurringonorafterthedateoftransitiontoIndAss.TheCompanyhasoptednottore-evaluate�inancialassetsderecognizedinthepastincludingthosesoldtoassetrestructuringcompanies.


Estimates:

Theestimatesat1April,2017andat31March,2018areconsistentwiththosemadeforthesamedatesinaccordancewithIndianGAAP(afteradjustmentstore�lectanydifferencesinaccountingpolicies)apartfromthefollowingitemswhereapplicationofIndianGAAPdidnotrequireestimation:

> FVTPL/FVOCI–equityanddebtinstrument

> Impairmentof�inancialassetsbasedonexpectedcreditlossmodel

TheestimatesusedbytheCompanytopresenttheseamountsinaccordancewithIndASre�lectconditionsat1April,2017,thedateoftransitiontoIndASandasof31March,2018.

Equityreconciliationfor1April,2017 (`inLacs)

Particulars Notes PreviousGAAP Reclassi�icationAdjustments IndAS

ASSETSFinancialAssets

Cashandcashequivalents 6 491.12 - - 491.12BankBalanceotherthanabove 7 - - - -

Tradereceivables 8 2.99 - - 2.99

Loans 9 1,77,496.04 - (4,456.13) 1,73,039.91

Investments 10 8,929.49 - (9.57) 8,919.92

Other�inancialassets 11 3,397.12 - (32.56) 3,364.56

Total(A) 1,90,316.76 - (4,498.26) 1,85,818.50

Non-�inancialAssets

Currenttaxassets(net) 12 440.92 - - 440.92

Deferredtaxassets(net) 35 - - 785.70 785.70

InvestmentProperty 13 - 0.28 - 0.28

Property,plantandequipment 14 510.08 (0.28) - 509.80

OtherIntangibleassets 15 3.34 - - 3.34

Capitalwork-in-progress 14 - 98.64 - 98.64

Othernon-�inancialassets 16 1,673.54 (232.05) (201.30) 1,240.19

Total(B) 2,627.88 (133.41) 584.40 3,078.87

TotalAssets(A+B) 1,92,944.64 (133.41) (3,913.86) 1,88,897.37

LIABILITIESANDEQUITYLIABILITIESFinancialLiabilities

Payables 17 812.41 - - 812.41

Debtsecurities 18 73,400.00 3,603.32 (385.72) 76,617.60

Borrowings(otherthandebtsecurities) 19 69,476.61 (108.67) (4.98) 69,362.96

Other�inancialliabilities 20 4,264.96 (3,628.06) - 636.90

Total(C) 1,47,953.98 (133.41) (390.70) 1,47,429.87

Non-�inancialLiabilities

Provisions 21 2,535.32 - (2,126.59) 408.73

Currenttaxliabilities(net)Contractliability

Deferredtaxliabilities(net) 35 30.26 - (30.26) -

Othernon-�inancialliabilities 22 58.92 - - 58.92

Total(D) 2,624.50 - (2,156.85) 467.65

TotalLiabilities(C+D) 1,50,578.48 (133.41) (2,547.55) 1,47,897.52

Equitysharecapital 23 21,416.00 - - 21,416.00

Otherequity 24 20,950.16 - (1,366.31) 19,583.85

TotalEquity 42,366.16 - (1,366.31) 40,999.85

Equityattributabletoshareholders

ofparent(77.25%) 32,727.86 - (1,055.47) 31,672.39

Non-controllinginterest(22.75%) 9,638.30 - (310.84) 9,327.47

TotalLiabilitiesandEquity 1,92,944.64 (133.41) (3,913.86) 1,88,897.37

*TheIndianGAAP�igureshavebeenreclassi�iedtoconformtoIndASpresentationrequirementsforthepurposeofthisnote.


Equityreconciliationfor31March,2018

(`inLacs)



ASSETS

FinancialAssets

Cashandcashequivalents 6 536.94 - - 536.94

BankBalanceotherthanabove 7 135.00 0.95 - 135.95

Tradereceivables 8 13.44 - - 13.44

Loans 9 1,78,529.92 - (3,891.15) 1,74,638.77

Investments 10 9,934.45 - (13.63) 9,920.82

Other�inancialassets 11 474.00 (0.95) (117.44) 355.61

Total(A) 1,89,623.75 - (4,022.22) 1,85,601.53

Non-�inancialAssets

Currenttaxassets(net) 12 456.11 - - 456.11

Contractasset -

Deferredtaxassets(net) 35 28.80 - 298.83 327.63

InvestmentProperty - 0.28 - 0.28

Property,plantandequipment 14 751.23 (0.28) - 750.95

OtherIntangibleassets 15 129.67 - - 129.67

Capitalwork-in-progress - 11.05 - 11.05

Othernon-�inancialassets 16 6,961.31 (54.39) (32.74) 6,874.18

Total(B) 8,327.12 (43.34) 266.09 8,549.87

TotalAssets(A+B) 1,97,950.87 (43.34) (3,756.13) 1,94,151.40

LIABILITIESANDEQUITYLIABILITIES

Financialliabilities

Payables 17 876.19 - - 876.19

Debtsecurities 18 63,900.00 3,341.04 (283.19) 66,957.85

Borrowings(otherthandebtsecurities) 19 80,743.87 (43.10) (3.02) 80,697.75

Other�inancialliability 20 3,623.61 (3,341.28) - 282.33

Total(C) 1,49,143.67 (43.34) (286.21) 1,48,814.12

Non-�inancialLiabilities

Provisions 21 3,426.47 - (3,061.24) 365.23

Currenttaxliabilities(net) - - - -

Deferredtaxliabilities(net) 35 - - - -

Othernon-�inancialliabilities 22 126.05 - - 126.05

Total(D) 3,552.52 - (3,061.24) 491.28

TotalLiabilities(C+D) 1,52,696.19 (43.34) (3,347.45) 1,49,305.40

Equitysharecapital 23 21,416.00 - - 21,416.00

Otherequity 24 23,838.68 - (408.68) 23,430.00

TotalEquity 45,254.68 - (408.68) 44,846.00

Equityattributabletoshareholders 34,959.24 - (315.71) 34,643.53ofparent(77.25%)

Non-controllinginterest(22.75%) 10,295.44 - (92.97) 10,202.47

TotalLiabilitiesandEquity 1,97,950.87 (43.34) (3,756.13) 1,94,151.40


Pro�itreconciliationfortheyearended31March,2018 (`inLacs)



REVENUEFROMOPERATIONS

Interestincome 25 26,431.79 - 843.90 27,275.69

Dividendincome - - - -

Rentalincome - - - -

Feeandcommissionincome - - - -

Netgainonfairvaluechanges 26 103.09 - (0.48) 102.61

Netgainonderecognitionof�inancial - - - -instrumentsunderamortisedcategory

Otheroperatingincome 27 636.78 - - 636.78

Totalrevenuefromoperations 27,171.66 - 843.42 28,015.08

Otherincome 28 25.49 - 25.07 50.56

TotalIncome 27,197.15 - 868.49 28,065.64

Expenses

Financecosts 29 11,546.61 - 17.56 11,564.17

Feesandcommissionexpense - -

Netlossonfairvaluechanges - - - -

Netlossonderecognitionof�inancial 30 - - - -instrumentsunderamortisedcategory

Impairmenton�inancialinstruments 31 1,810.87 - (649.13) 1,161.74

Employeebene�itsexpenses 32 4,243.66 - 12.67 4,256.33

Depreciation,amortisationand 33 193.10 - - 193.10impairment

Otherexpenses 34 5,063.46 - 25.28 5,088.74

TotalExpenses 22,857.70 - (593.62) 22,264.08

Pro�it/(loss)beforeexceptional 4,339.45 - 1,462.11 5,801.56itemsandtax

Exceptionalitems - - - -

Pro�it/(loss)beforetax 4,339.45 - 1,462.11 5,801.56

TaxExpense:

(1)Currenttax 35 1,337.56 - - 1,337.56

(2)Deferredtax(credit) 35 (59.07) - 514.28 455.21

(3)Earlieryearsadjustments 35 172.44 - - 172.44

Pro�it/(loss)fortheperiodfrom 2,888.52 - 947.83 3,836.35continuingoperations

Pro�it/(loss)fromdiscontinued - - - -operations

Gainondisposalofdiscontinued - - - -operation

Taxexpenseofdiscontinuedoperations - - - -

Pro�it/(loss)fortheyear 2,888.52 - 947.83 3,836.35

Othercomprehensiveincome

(i) Itemsthatwillnotbeclassi�ied - - - topro�itorloss

(ii)Incometaxrelatingtoitemsthatwill - - - - notbereclassi�iedtopro�itorloss

Subtotal(A) - - - -

(i) Itemsthatwillbereclassi�iedto - - 8.32 8.32 pro�itorloss

(ii) Incometaxrelatingtoitemsthatwill - - (2.88) (2.88) bereclassi�iedtopro�itorloss

Subtotal(B) - - 5.44 5.44

OtherComprehensiveIncome - - 5.44 5.44

Totalcomprehensiveincome 2,888.52 - 953.27 3,841.79


FOOTNOTESTOTHERECONCILIATIONOFEQUITYASAT1APRIL,2017AND31MARCH,2018

ANDPROFITORLOSS

FORTHEYEARENDED31MARCH,2018

1. EIR

a. UnderIndianGAAP,transactioncostschargedtocustomerswasrecognisedupfrontwhileunderIndAS,suchcostsareincludedintheinitialrecognitionamountof�inancialassetandrecognisedasinterestincomeusingtheeffectiveinterestmethod.Consequentlyloantocustomersondateoftransitiondatehavedecreasedby`774.17Lacs(alladavances�loatingontransitiondate).Theimpactof`105.26Lacsfortheyearended31March,2018hasbeentakentoPro�itandloss.Loanswhichweredisbursedat�ixedratehaveimpactedPro�itandlossfortheyearended31March,2018of 0.02Lacs

b. UnderIndianGAAP,transactioncostsincurredonDebtsecuritieswaschargedtostatementofpro�itandlossproportionatelyonthebasisoftenurewhileunderIndAS,suchcostsareincludedintheinitialrecognitionamount of �inancial asset and recognised as interest expense using the effective interest method.Consequentlyborrowingsondateoftransitiondatehavedecreasedby 385.72Lacsandimpactfortheyearended31March,2018amountingto 102.52LacshasbeentakentoPro�itandloss.

c. UnamortisedexpenseondebtsecuritieswasrecordedasanassetinthebalancesheetunderIndianGAAP.ThesameisreversedunderIndAS.Asaresult,theretainedearningsasonthetransitiondatehasdecreasedby 395.50Lacs.Impactfortheyearended31March2018was 102.58LacshasbeentakentothePro�itandlossaccount.

d. UnderIndianGAAP,expensesincurredoninvestmentinPTCswerechargedtopro�itandlossupfrontwhileunderINDAS,expensesincurredfor�loatingratePTCsareamortisedonthebasistenure.ConsequentlyInvestmentinPTCsisincreasedby`8.19lacsonthedateoftransitionwhichhasimpctedretainedearning.Theimpactof 1.94lacsfortheyearended31March,2018hasbeentakentopro�itandloss.

2. RecordingofimpairmentasperECL

a. UnderIGAAP,NPAprovisioningwascomputedbasedontheNHBguidelines.UnderIndAS,theimpairmentiscomputedbasedonExpectedCreditLossmodel.UnderECL,thecompanyimpaireditsloanstocustomersby`4,243.87Lacswhichhasbeeneliminatedagainstretainedearnings.Thishasresulted inanadditionalimpairmentprovisionof 1,957.85LacsonthedateoftransitiontoIndAStheimpactofwhichwastakentoretainedearnings.Impactfortheyearended31March,2018was`650.73LacshasbeentakentothePro�itandlossaccount.

b. UnderIGAAP,impairmentwasnotprovidedforinvestmentinPTC.AsperINDAS,ECLisprovidedduetowhichratainedearningshasreducedby`18.35lacsasontransitiondate.Impactfortheyearended31March,2018was 1.60LacshasbeentakentothePro�itandLossaccount.

3. InterestincomeonNPA

UnderIGAAP,interestincomeonNPAwasrecognisedoncashbasis.However,underIndAStheinterestincomeonNPAisrecordednetofECLprovisionasandwhenaccrued.AsaresultofrecordinginterestincomeonNPAonaccrualbasis,theretainedearningsasontransitiondatehasincreasedby 402.47Lacs.Theimpactfortheyearwas 740.61LacshasbeentakentoPro�itandloss.

4. Fairvaluationofsecuritydeposit

TheCompanyhasgiveninterestfreesecuritydepositintheformofrentaladvanceforbranchestakenonlease.SuchdepositshavebeenfairvaluedunderIndAS.Asaresultofthefairvaluation,therehasbeenaadditioninthebalanceofsecuritydepositstotheextentof 99.46Lacsimpactofwhichwastakentoretainedearningsason1April,2017.Theimpactof 25.07Lacsfortheyearended31March,2018hasbeentakeninPro�itandloss.AlsotheCompanyhasamortiseddeferredleaserentalason1April,2017totheextentof 101.71Lacs,theimpactofwhichwastakentoretainedearningsason1April,2017.Theimpactof 27.86Lacsfortheyearended31March,2018hasbeentakeninPro�itandloss.


5. FairvaluationofESOP

UnderIGAAP,ESOPwasrecordedusingtheIntrinsicValuemethod.However,underIndAS,ESOPisrecordedusingFairvaluemethod.AsaresultofthistherewasanincreaseinthevaluationofESOPasonthetransitiondateby 11.51Lacswhichhasledtoreductionintheretainedearnings.Theimpactfortheyearended31March,2018is 4.35Lacswhichhasbeentakentothepro�itandloss.

6. DeferredTax

TheapplicationofIndAS12approachhasresultedinrecognitionofdeferredtaxonnewtemporarydifferenceswhichwasnotrequiredunderIndianGAAP.

Inaddition,thevarioustransitionaladjustmentsleadtotemporarydifferences.Accordingtotheaccountingpolicies,thecompanyhastoaccountforsuchdifferences.Deferredtaxadjustmentsarerecognisedincorrelationtotheunderlyingtransactioneitherinretainedearningsoraseparatecomponentofequity.AsaresultofIndASadjustments,thedeferredtax(Asset)ason1April,2017hasincreasedby 785.70Lacsleadingtoanincreaseinretainedearnings.Theimpactfortheyearended31March,2018is`517.15LacswhichhasbeentakentothePro�itandloss.

7. Othercomprehensiveincome

UnderIndianGAAP,thecompanyhasnotpresentedothercomprehensiveincome(OCI)separately.Hence,ithasreconciled IndianGAAPpro�it or loss topro�it or loss asper IndAS. Further, IndianGAAPpro�it or loss isreconciledtototalcomprehensiveincomeasperIndAS.

8. Statementofcash�lows

ThetransitionfromIndianGAAPtoIndAShasnothadamaterialimpactonthestatementofcash�lows.

9. FVOCI�inancialassets

UnderIndianGAAP,thecompanyaccountedforlongterminvestmentsinPTCatcost.UnderIndAS,thecompanyhasdesignatedsuchinvestmentsasFVOCIinvestments.IndASrequiresFVOCIinvestmentstobemeasuredatfairvalue.AtthedateoftransitiontoIndAS,carryingvalueofInvestmentinPTCisconsideredasfairvalue.

10.De�inedbene�itliabilities

Bothunder IndianGAAPand IndAS, thecompanyrecognisedcostsrelated to itspost-employmentde�inedbene�itplanonanactuarialbasis.

UnderIndianGAAP,theentirecost,includingactuarialgainsandlosses,arechargedtopro�itorloss.UnderIndAS,remeasurements[comprisingofactuarialgainsandlosses]arerecognisedimmediatelyinthebalancesheetwith a corresponding debit or credit to retained earnings through OCI. Thus the employee bene�it cost isincreasedby 8.32LacsandRemeasurementgains/losseson31March,2018.

11.FairValuationofInvestmentinMutualFunds

UnderIGAAP,InvestmentinMutualFundsisshownatcost.AsperINDAS,itisshownatfairvalue.Asontransitiondate,InvestmentinMutualfundisincreasedby 0.48Lacswhichhasimpactedretainedearnings.Theimpactfortheyearended31March,2018is 0.48Lacswhichhasbeentakentopro�itandloss.

12.AmortisationofCashCreditRenewalExpenses

UnderIGAAP,Cashcreditrenewalexpenseswerechargedtopro�itandlossupfront.UnderINDAS,itisammortisedovertheperiodduetowhich 5.01lacshasimpactedretainedearnings.Theimpactfortheyearended31March,2018is 2.02lacswhichhasbeentakentopro�itandloss.

13.Commissiononcorporateguarantee

AsperIGAAP,bookingofcommissiononcorporateguaranteeprovidedbyShriramCityUnionFinancetouswasnotrequired.AsperINDAS,itneedstobebookedduetowhichretainedearningshasimpactedby`19.92lacs.Theimpactfortheyearended31March,2018is 15.60lacswhichhasbeentakentopro�itandloss.


14.Reclassi�icationofprovisionofstandard/non-performingassets(NPA)

UnderIndianGAAPprovisionforNPAandstandardassetwerepresentedunderprovisions.However,underIndAS�inancialassetsmeasuredatamortisedcost(majorlyloans)arepresentednetofprovisionforexpectedcreditlosses. Consequently, the company has reclassi�ied the Indian GAAP provisions for standard assets/ NPA'samountingto 2,286.02Lacsand 3,117.82Lacsason1April,2017and31March,2018respectively.

15.Reclassi�icationofexpensesincurredforborrowings/debtsecurities

UnderIGAAP,expensesincurredforborrowings/debtsecuritieswhichwereon�loatingratebasiswereshownunderassetwhileasperINDASitisclubbedwithborrowings/debtsecurities.Consequently,thecompanyhasreclasssi�iedthesamewithborrowings/debtsecuritiesamountingto 133.41lacsand 43.34lacsason1April,2017and31March,2018respectively.

16.Reclassi�icationofinterestaccruedonborrowings/debtsecurities

UnderIGAAP,interestaccruedonborrowings/debtsecuritieswereshownunderother�inancialliabilitiesisclubbedwithrespectivedebtsecuties/borrowingsasperINDAS.Consequently,thecompanyhasreclassi�iedthesameamountingto 3,628.05lacsand 3,341.28lacsason1April,2017and31March,2018.

17.Reclassi�icationofLand

UnderIGAAP,Landwasshownunder�ixedassetwhereasunderINDASitisshownunderInvestmnetpropertyamountingto 0.28lacs.

18.Reclassi�icationofadvancesgivenagainstcapitalassets

UnderIGAAP,advancesgivenforcapitalassetswereshownasadvanceunderseparateheadwhereasasperINDAS,itisshownunderproperty,plantandequipmentascapitalworkinprogressincludingadvanceforcapitalassets.

Note46.Ascerti�iedbytheManagement,loansgivenbythecompanyaresecuredbyEquitableMortgage/RegisteredMortgageoftheproperty&AssetsFinanced&/orassignmentofLifeInsurancepolicies&/orPersonalGuarantees&/orundertakingtocreateasecurityandareconsideredsecured&good.

Note47.CompanyhasobtainedguaranteeonpoolofHomeLoancontractswithaMortgageGuaranteeextendedbyIndiaMortgageGuaranteeCorporationPvt.Ltd(IMGC).TheguaranteefromIMGChelpsinmitigatingcreditlosses.

Note48.NoFundsraisedthroughPreferentialallotmentofshares.

Note49.ValueofImportsonCIFbasis-NIL(PreviousYear-NIL).

Note50.Foreignexchangeearnings-NIL(PreviousYear-NIL)andoutgo-NIL(PreviousYear-NIL).

Note51.Basedontheinformationreceivedbythecompany,noneofthesuppliershavecon�irmedtoberegisteredundertheMicro,SmallandMediumEnterprisesDevelopment(MSMED)Act,2006.

Note52.TheCompanydoesnothavelicensedcapacityasitisaHousingFinanceCompany.

Note53.The�iguresofpreviousyearhavebeenrearranged/regroupedtoconformtothecurrentyear.


Note54.TransfertoReserveFund:

AsperSection29CoftheNationalHousingBankAct,1987,theCompanyisrequiredtotransferatleast20%ofnetpro�itseveryyeartoReserveFund.TheCompanyhastransferredanamountof 337.99Lacs(PreviousYear 578.00Lacs).

( inLacs)`

asat Particulars Asat Asat 31March,2019 31March,2018

Balanceatthebeginningoftheyear

a) StatutoryReserveu/s29CoftheNationalHousingBankAct,1987 - -

b) Amountofspecialreserveu/s36(1)(viii)ofIncomeTaxAct,1961 2,460.70 1,882.70 takenintoaccountforthepurposesofStatutoryReserveunder section29CoftheNHBAct1987.

c) Total 2,460.70 1,882.70

Addition/Appropriation/WithdrawalduringtheyearAdd:a) Amounttransferreduls29CoftheNHBAct,1987

b) Amountofspecialreserveu/s36(1)(viii)ofIncomeTaxAct, 337.99 578.00 1961takenintoaccountforthepurposesofStatutoryReserve undersection29CoftheNHBAct1987.

Less:a) AmountappropriatedfromtheStatutoryReserve - - u/s29CoftheNHBAct,1987

b) AmountwithdrawnfromtheSpecialReserveuls36(1)(viii) - - ofIncomeTaxAct,1961whichhasbeentakenintoaccountfor thepurposeofprovisionu/s29CoftheNHBAct,1987

Balanceattheendoftheyear

a) StatutoryReserveu/s29CoftheNationalHousingBankAct,1987 - -

b) Amountofspecialreserveu/s36(1)(viii)ofIncomeTaxAct,1961 2,798.69 2,460.70 takenintoaccountforthepurposesofStatutoryReserveunder Section29CoftheNHBAct,1987

c) Total 2,798.69 2,460.70

CapitaltoRiskRatio(CRAR)

ExposuretoRealEstateSector

a) DirectExposure

i) ResidentialmortgagesLendingfullysecuredbymortgageonResidentialpropertythatisorwillbeoccupiedbytheborrowerorthatisrented

( inLacs)`

Category Asat Asat 31March,2019 31March,2018

(i) HousingLoantoindividualsupto`15lacs 33,910.86 39,271.82

(ii) HousingLoantoindividualsmorethan`15lacs 54,552.18 50,595.50

(iii)NonHousingLoanagainstresidentialproperty 72,722.42 59,352.22

Items Asat Asat 31March,2019 31March,2018

1. CRAR(%) 29.94% 33.02%

2. CRAR(%)TierIcapital 28.99% 31.66%

3. CRAR(%)TierIIcapital 0.95% 1.36%

4. AmountofsubordinateddebtraisedasTier-IICapital - -

5. AmountraisedbyissueofPerpetualDebtInstruments - -


(ii)CommercialRealEstate( inLacs)`


Lendingsecuredbymortgagesoncommercialreal-estates(of�ice 20,978.67 25,419.23buildings,retailspace,multipurposecommercialpremises,multi-familyresidentialbuildings,multi-tenantedcommercialpremises,industrialorwarehousespace,hotels,landacquisition,developmentandconstruction,etc)exposureincludesnon-fundbased(NFB)limits


a)Residential 144.28 253.07

b)CommercialRealEstate - -

iii)Investmentinmortgagebackedsecurities(MBS)andothersecuritizedexposures( inLacs)`

b) Indirectexposure

Fundbasedandnon-fundbasedexposureonNationalHousingBank(NHB)andHousingFinanceCompanies(HFCs)–NIL (previousyear-NIL)

Note55:Investments( inLacs)`


ValueofInvestments

(i) GrossvalueofInvestments (a) InIndia 21,859.75 9940.70

(b)OutsideIndia - -

(ii)ProvisionsforDepreciation* (a)InIndia (4.74) (19.88)

(b)OutsideIndia - -

(iii)NetvalueofInvestments (a) InIndia 21,855.01 9,920.82

(b)OutsideIndia - -

Movementofprovisionsheldtowardsdepreciationoninvestments*

(i) Openingbalance 19.88 18.24

(ii)Add:Provisionsmadeduringtheyear* - 1.64

(iii)Less:Write-off/Written-backofexcessprovisionsduringtheyear* (15.14) -

(iv)Closingbalance 4.74 19.88

*Amountshownisasperexpectedcreditloss(ECL)oninvestmentinPTCasperIndAS.


AssetLiabilityManagement:

MaturitypatternofcertainitemsofAssetsandLiabilities.

( inLacs)`

Period Liabilities Assets

Borrowings Market Advances Investment fromBanks* Borrowings**

1dayto30-31days(onemonth) 2,227.42 2,480.74 4,099.80 16,216.92

Overonemonthto2months 505.70 2,793.46 959.66 197.80

Over2monthsupto3months 393.52 (7.35) 1,045.07 198.97

Over3monthsto6months 6,272.16 20,038.91 2,826.09 405.26

Over6monthsto1year 29,749.89 6,293.81 5,886.71 722.38

Over1yearto3years 40,508.71 23,410.79 27,464.35 1,083.54

Over3to5years 25,757.63 3,969.51 25,833.42 1,013.50

Over5to7years 494.90 3,993.39 25,235.72 1,106.24

Over7to10years - - 40,543.17 548.35

Over10Years - - 48,270.14 362.05

Total 1,05,909.93 62,973.26 1,82,164.13 21,855.01

*IncludesBorrowingsfromNationalHousingBank.**IncludesCommercialpapers

Detailsofnon-performing�inancialassetssold:

( inLacs)`

SI. Particulars Asat AsatNo. 31March,2019 31March,2018

1. No.ofaccountssold 355.00 -

2. Aggregateoutstanding 7,692.17 -

3. Aggregateconsiderationreceived 3,776.00 -


Note56:Provisions&Contingencies

( inLacs)`

SI. Breakupof'ProvisionsandContingencies'shownunder Asat AsatNo. theheadExpenditureinPro�itandLossAccount 31March,2019 31March,2018

1. ProvisionsfordepreciationonInvestment** (15.19) 1.60

2. ProvisionmadetowardsIncometax (92.94) 1,510.00

3. ProvisiontowardsNPA* (1,390.64) 774.29

4. ProvisionforStandardAssets* (375.68) (490.38)

5. OtherProvisionandContingencies ProvisionforGratuity (43.88) 46.05

ProvisionforLeavebene�its 89.87 49.12

ProvisionforNonfundedexposures* (17.16) (102.85)

*Amountshownisasperexpectedcreditloss(ECL)ofloans&nonfundedexposureasperIndAS**Amountshownisasperexpectedcreditloss(ECL)ofinvestmentasperIndAS

( inLacs)`

*Amountshownunder"provisionsmade"isexpectedcreditloss(ECL)onloansasperINDAS

BreakupofLoan&Advances Housing Non-Housing

andProvisionsthereon Asat Asat Asat Asat 31March,2019 31March,2018 31March,2019 31March,2018

StandardAssetsa)TotalOutstandingAmount 1,06,718.64 1,04,192.09 72,882.70 64,765.65

b)Provisionsmade* 828.21 1,031.50 658.26 830.66

Sub-StandardAssetsa)TotalOutstandingAmount 1,231.94 3,331.96 1,889.89 4,541.83

b)Provisionsmade* 296.39 902.73 409.03 1,079.46

DoubtfulAssets–Category-Ia)TotalOutstandingAmount 429.16 1,180.40 1,079.70 525.90

b)Provisionsmade* 98.91 302.99 204.54 117.66

DoubtfulAssets–Category-IIa)TotalOutstandingAmount 383.92 374.16 133.42 95.17

b)Provisionsmade* 80.55 84.36 23.06 19.03

DoubtfulAssets–Category-IIIa)TotalOutstandingAmount 16.82 - - -

b)Provisionsmade* 3.11 - - -

LossAssetsa)TotalOutstandingAmount - - - -

b)Provisionsmade* - - - -

TOTAL

a)TotalOutstandingAmount 1,08,780.48 1,09,078.61 75,985.71 69,928.55

b)Provisionsmade* 1,307.17 2,321.58 1,294.89 2,046.81


Note57:ConcentrationofPublicDeposits,Advances,ExposuresandNPAs

(i)ConcentrationofPublicDeposits(forPublicDeposittaking/holdingHFCs)( inLacs)`


TotalDepositsoftwentylargestdepositors

PercentageofDepositsoftwentylargestdepositorsto N.A. N.A.TotalDepositsoftheHFC

(ii)ConcentrationofLoans&Advances( inLacs)`


TotalLoans&Advancestotwentylargestborrowers 22,451.60 21,966.58

PercentageofLoans&Advancestotwentylargestborrowersto 12.32% 12.58%TotalAdvancesoftheHFC

(iii)ConcentrationofallExposure(includingoff-balancesheetexposure)( inLacs)`


TotalExposuretotwentylargestborrowers/customers 23,801.26 25,215.27

PercentageofExposurestotwentylargestborrowers/customersto 12.60% 13.68%TotalExposureoftheHFConborrowers/customers

(iv)ConcentrationofNPAs( inLacs)`


TotalExposuretotoptenNPAaccounts 1,345.24 1,867.32

(v)Sector-wiseNPAs

Sl.No. Sector PercentageofNPAstoTotalAdvancesinthatsector

A. HousingLoans:

1 Individuals 1.47%

2 Builders/ProjectLoan 0.01%

3 Corporates -

4 Others(specify) -

B. Non-HousingLoans:

1 Individuals 2.53%

2 Builders/ProjectLoan 0.02%

3 Corporates 0.75%

4 Others(specify) -


(vi)MovementofNPAs

( inLacs)`

SI. Particulars Asat AsatNo. 31March,2019 31March,2018

(I) NetNPAstoNetAdvances(%) 2.20% 4.27%

(II) MovementofNPAs(Gross)

a)Openingbalance 10,049.42 4,987.89

b)Additionsduringtheyear 3,476.79 8,004.95

c)Reductionsduringtheyear 8,361.37 2,943.42

d)Closingbalance 5,164.84 10,049.42

(III) MovementofNetNPAs


b)Additionsduringtheyear 2,773.12 6,203.27

c)Reductionsduringtheyear 6,267.06 1,916.04


(IV) MovementofprovisionsforNPAs (excludingprovisionsonstandardassets)


b)Provisionsmadeduringtheyear 750.57 1,961.98

c)Write-off/write-backofexcessprovisions 2,141.21 1,187.68



Note58:RatingAssignedbyCreditratingagenciesandmigrationofratingsduringtheyear

RatingAgency RatingInstrument RatingAssignedason31stMarch2019

IndiaRating&ResearchPvt.Ltd. Long-Term(NCDs) INDAA/Stable

BankLoanRatings INDAA/Stable

CreditAnalysis&ResearchLimited Long-Term(NCDs) CAREAA+

Short-Term(CP) CAREA1+

Note:Nomigrationduringtheyear

Note59:DisclosureofComplaintsandCustomersComplaints

Sl.No. Particulars Asat Asat 31March,2019 31March,2018

a) No.ofcomplaintspendingatthebeginningoftheyear - -

b) No.ofcomplaintsreceivedduringtheyear 890 525

c) No.ofcomplaintsredressedduringtheyear 890 525

d) No.ofcomplaintspendingattheendoftheyear - -







SHRIRAMHOUSINGFINANCELIMITEDL I S T O F B R A N C H E S

NOTE60:THECOMPANYHAS72BRANCHESASATMARCH31,2019.THELISTOFBRANCHESISATTACHED.

SI.No. STATES/U.T. BRANCHES

1 AndhraPradesh Guntur

2 AndhraPradesh Karimnagar

3 AndhraPradesh Kurnool

4 AndhraPradesh Nellore

5 AndhraPradesh Rajahmundry

6 AndhraPradesh Thirupathi

7 AndhraPradesh Vijayawada

8 AndhraPradesh Visakhapatnam

9 AndhraPradesh Warangal

10 Chattisgarh Raipur

11 Delhi Delhi

12 Gujarat Ahmedabad

13 Gujarat AhmedabadEast

14 Gujarat Bharuch

15 Gujarat Bhavnagar

16 Gujarat Himmatnagar

17 Gujarat Mehsana

18 Gujarat Palanpur

19 Gujarat Rajkot

20 Gujarat Surat

21 Gujarat Vadodara

22 Karnataka Banashankari

23 Karnataka Bengaluru

24 Karnataka Davangere

25 Karnataka Hubli

26 Karnataka Mysore

27 Kerala Ernakulam

28 Kerala Thrissur


29 MadhyaPradesh Bhopal

30 MadhyaPradesh Indore

31 MadhyaPradesh Ujjain

32 Maharashtra Ahmednagar

33 Maharashtra Amaravati

34 Maharashtra Aurangabad

35 Maharashtra Kolhapur

36 Maharashtra Nagpur

37 Maharashtra Nasik

38 Maharashtra NaviMumbai

39 Maharashtra Pune

40 Maharashtra PuneVimanNagar

41 Maharashtra Solapur

42 Maharashtra Wardha

43 Orissa Bhubaneshwar

44 Pondicherry/Puducherry Pondicehrry/Puducherry

45 Punjab Ludhiana

46 Punjab Mohali(Chandigarh)

47 Rajasthan Alwar

48 Rajasthan Ajmer

49 Rajasthan Bikaner

50 Rajasthan Jodhpur

51 Rajasthan Jaipur

52 Rajasthan Kota

53 Rajasthan Udaipur

54 TamilNadu Chennai

55 TamilNadu Coimbatore

56 TamilNadu Hossur

57 TamilNadu Kanchipuram

58 TamilNadu Madurai

59 TamilNadu Salem

60 TamilNadu Thiruchirapalli

61 TamilNadu Thiruvallur

62 TamilNadu Tirunelveli

63 TamilNadu Vellore


64 Telengana Hyderabad

65 Telengana Kukatpally

66 Telengana Secunderabad

67 Uttarakhand Dehradun

68 UttarPradesh Agra

69 UttarPradesh Lucknow

70 UttarPradesh Meerut

71 WestBengal Kolkata

72 WestBengal Siliguri


-REGISTEREDOFFICE-

No.123,AngappaNaickenStreet,Chennai-600001

-HEADOFFICE-

Helpline:1800-102-4345

Email:[email protected]|Website:www.shriramhousing.in

SHRIRAMHOUSINGFINANCELIMITEDLevel3,WockhardtTowers,EastWingBandraKurlaComplex,Mumbai-400051

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