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( in crores)

Particulars Quarter ended March

31, 2012
Quarter ended March
31, 2011
Quarter ended

December
31, 2011
Year ended March
31, 2012
Year ended March

31, 2011
Income from Operations :
a) Revenue from Operation 165.73 119.19 131.92 513.91 361.07
b) Other Income 0 0.01 0.02 0.07 0.20
Total Income 165.73 119.20 131.94 513.98 361.27
Expenditure :          
a) Finance Cost 88.26 58.11 81.57 310.11 200.92
b) Employee Benefit Expenses 4.16 3.95 5.09 19.68 15.72
c) Other Expenses 5.65 4.68 8.84 19.07 17.23
d) Depreciation 0.66 0.52 0.58 2.36 1.83
Total Expenditure 98.73 67.26 96.08 351.22 235.70
Profit Before Tax 67.00 51.94 35.86 162.76 125.57
Tax Expenses 11.43 10.34 12.56 42.42 34.06
Net Profit After Tax 55.57 41.60 23.30 120.34 91.51
Earning per Share – Basic () 15.753 11.884 6.599 34.126 26.192
– Diluted () 15.643 11.872 6.599 34.012 26.129
Debenture Redemption Reserve (*)      
Debt Equity Ratio (*)       9.94 9.33
Debt Service Coverage Ratio (*)       0.58 0.46
Interest Service Coverage Ratio (*)       1.54 1.65
Paid-up Equity Share Capital
(Face Value of 10/- each)
    35.30 35.30 35.16
Paid-up Debt Capital (*)       40.00 40.00
Reserves and Surplus       350.25 282.78
Public Shareholding          
– No. of Shares     13994853 13994853 13849848
– Percentage of Shareholding     39.64 39.64 39.39
Promoters and Promoter Group Shareholding          
a) Pledged / Encumbered          
No. of Shares
    Nil Nil Nil
Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
    Nil Nil Nil

Percentage of Shares (as a % of the total share capital of the Company)
    Nil Nil Nil
b) Non – encumbered          
No. of Shares
    21307785 21307785 21307785
Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
    100 100 100
Percentage of Shares (as a % of the total share capital of the Company)
    60.36 60.36 60.61
  • (*) Information provided pursuant to Securities and Exchange Board of India circular dated May 11, 2009 in terms of Simplified Listing Agreement for Debt Securities.
  • (*) ISCR = Cash Earning Before Interest and Tax / Interest Expenses; DSCR = (Cash Earning Before Interest and Tax + Principal repayment of loan assets) / (Interest + Principal repayment of borrowings)

NOTES :-

  • The Company’s main business is to provide loans for purchase or construction of residential houses. All other activities of the Company revolve around the main business. As such, there are no separate reportable segments as per the Accounting Standard on Segment Reporting (AS 17).
  • Disbursements during the year ended March 31, 2012 amounted to 1486.52 crores as compared to 1210.69 crores during the corresponding previous year representing a growth of 23%. Loan Assets have increased from 3176.85 crores as on March 31, 2011 to 4077.43 crores as on March 31, 2012 registering a growth of 28%.
  • The Gross NPAs of the Company are 21.11 crores (0.52% of the Loan Assets) as against 25.86 crores (0.81% of the Loan Assets) as on March 31, 2011.
  • Revenue from operations for the quarter ended March 31, 2012 includes write back of excess provision of 19.84 crores made in the earlier quarters of the year as against 14.61 crores written back in the corresponding quarter in the previous year.
  • A Statement showing Equity and Liabilities and Assets as required under clause 41(V) (h) of Listing Agreement is as under:

    ( in crores)

    PARTICULARS As at March 31,
    2012 2011
    EQUITY AND LIABILITIES    
    Shareholders’ Funds    
    Share Capital 35.30 35.16
    Reserves and Surplus 350.25 282.78
      385.55 317.94
    Non-Current Liabilities    
    Long-Term Borrowings 2834.07 2012.35
    Other Long – Term Liabilities 7.33 3.63
    Long-Term Provisions 41.31 29.38
      2882.71 2045.36
    Current Liabilities    
    Short-Term Borrowings 232.35 299.52
    Trade Payables 1.18 1.77
    Other Current Liabilities 785.60 679.10
    Short-Term Provisions 48.68 46.15
      1067.81 1026.54
      4336.07 3389.84
    ASSETS    
    Non-Current Assets    
    Tangible assets 10.31 10.51
    Intangible assets 1.35 1.70
    Non-Current Investments 24.33 12.43
    Deferred Tax Assets (Net) 11.95 9.27
    Long-Term Loans and Advances    
    Loans 3795.71 2977.73
    Others 3.36 1.61
      3847.01 3013.25
    Current Assets    
    Current Investments 0.10 22.23
    Cash and Bank Balances 169.47 123.69
    Short-Term Loans and Advances 34.84 30.65
    Other Current Assets    
    Loans 281.72 199.12
    Others 2.93 0.90
    489.06 376.59
      4336.07 3389.84

    The classification of Assets and Liabilities into Current and Non-Current is carried out based on their residual maturity profile as per the requirement of Revised Schedule VI to the Companies Act, 1956.

    The estimates and assumptions regarding prepayments and renewals as per the Circular no NHB/ND/DRS/Pol-No-35/2010-11 dated October 11, 2010, issued by the National Housing Bank(NHB) are not considered while classifying the assets and liabilities into current and non-current. Consequently in the Balance Sheet shown above, the Current Liabilities are reported higher by 39.02 crores and Current Assets are reported lower by 336.03 crores.

  • During the period under review, there are no transactions in the nature of exceptional or extraordinary items.
  • The Board of Directors have recommended a dividend of 11.50/- Per Share. The dividend recommended will also be applicable for the full year in respect Equity Shares issued during the year.
  • There was no investor complaint that was unresolved as of January 1, 2012. During the quarter ended March 31, 2012 the Company received one investor complaint which was resolved during the quarter. As such there was no unresolved investor complaint at the end of the said quarter.
  • The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the end of third quarter of the current financial year.
  • Previous period/year figures have been regrouped and reclassified, where necessary, to make them comparable with current quarter figures.

The above audited results for the year ended March 31, 2012 has been approved by the Board of Directors at its meeting held on April 24, 2012.

April 24, 2012
Mumbai
For GRUH Finance Limited
Sudhin Choksey
Managing Director