logo-theme-upside

STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER / YEAR ENDED MARCH 31, 2018

( in crores)

Particulars Quarter
ended
March
31, 2018
Quarter
ended
Dec
31, 2017
Quarter
ended
March
31, 2017
Year
ended
March
31, 2018
Year
ended
March
31, 2017
  Reviewed Audited
Income from Operations :          
Revenue from Operations 484.31 428.47 416.11 1,687.19 1,487.39
Total Income from Operations 484.31 428.47 416.11 1,687.19 1,487.39
Expenditure :          
a) Finance Cost 253.34 251.17 230.68 982.45 919.62
b) Employee Benefit Expenses 10.21 12.37 10.02 54.51 48.61
c) Other Expenses 12.19 11.94 13.42 46.53 42.06
d) Depreciation & Amortisation 0.90 0.76 0.68 3.09 2.86
e) Provisions, Contingencies and Write offs 1.36 24.18 1.35 38.54 32.24
Total Expenditure 278.00 300.42 256.15 1,125.12 1,045.39
Profit Before Tax 206.31 128.05 159.96 562.07 442.00
Tax Expense          
– Current Tax 44.90 44.25 25.26 166.00 120.00
– Deferred Tax 30.90 1.64 24.25 33.39 25.35
Total Tax Expense 75.80 45.89 49.51 199.39 145.35
Net Profit After Tax 130.51 82.16 110.45 362.68 296.65
Earnings per Share #(of 2 each)
– Basic ()
3.57 2.25 3.03 9.93 8.15
– Diluted () 3.56 2.24 3.03 9.91 8.15
Paid-up Debt Capital 35.00 35.00 35.00 35.00 35.00
Paid-up Equity Share Capital
(Face Value of 2/- each)
73.14 73.13 72.91 73.14 72.91
Reserves excluding Revaluation
Reserves as at March 31
1,307.78 1,040.30

# Not annualised for the quarters

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), specified under section 133 of the Companies Act, 2013.
  • Disbursements during the year ended March 31, 2018 amounted to 5,259 crores as compared to 4,125 crores during the corresponding period in previous year representing a growth of 27%. Loan Assets have increased from 13,244 crores as on March 31, 2017 to 15,568 crores as on March 31, 2018 registering a growth of 18%.
  • The aggregate NPAs of the Company are 0.45% of the Loan Assets as on March 31, 2018 as against 0.31% of the Loan Assets as on March 31, 2017. All NPAs have been fully provided and Net NPAs are Nil.
  • National Housing Bank (NHB) vide notification No. NHB.HFC.DIR.18/MD&CEO/2017 dated August 2, 2017 reduced the provisioning requirement on Standard Individual Housing Loans from 0.40% to 0.25%. In terms of the said notification, as of March 31, 2018, the Company continues to carry the provision of 20.25 crores which is higher than the revised regulatory requirement of minimum 0.25%.
  • During the quarter ended March 31, 2018, the Company has allotted 85,640 equity shares of 2 each pursuant to the exercise of the stock options by employees.
  • During the period under review, there are no transactions in the nature of exceptional or extraordinary items.
  • Audited Balance Sheet :

    ( in crores)

    Particulars As At
    March 31,
    2018
    March 31,
    2017
    Audited
    Equity and Liabilities    
    Shareholders’ Funds    
    Share Capital 73.14 72.91
    Reserves and Surplus 1,307.78 1,040.30
    Sub-Total Shareholders’ Funds 1,380.92 1,113.21
    Non-Current Liabilities    
    Long-Term Borrowings 6,665.54 10,491.96
    Deferred Tax Liability (Net) 156.38 122.99
    Other Long-Term Liabilities 16.09 65.43
    Long-Term Provisions 139.64 106.85
    Sub – Total Non – Current Liabilities 6,977.65 10,787.23
    Current Liabilities    
    Short-Term Borrowings 5,493.35 22.99
    Trade Payables 2.60 4.83
    Other Current Liabilities 2,113.36 1,654.55
    Short-Term Provisions 3.09 3.13
    Sub – Total Current Liabilities 7,612.40 1,685.50
    Total Equity and Liabilities 15,970.97 13,585.94
    Assets    
    Non – Current Assets    
    Fixed Assets    
        Property, Plant and Equipment
        Intangible Assets
    14.12
    1.30
    13.12
    0.58
    Non-Current Investments 83.03 158.09
    Long-Term Loans and Advances    
        Loans
        Others
    14,651.10
    40.20
    12,431.44
    39.47
    Other Non-Current Assets 0.00 33.00
    Sub – Total Non – Current Assets 14,789.75 12,675.70
    Current Assets    
    Current Investments 70.09 0.00
    Cash and Bank Balances 73.12 38.65
    Short-Term Loans and Advances
        Loans
         Others
    917.29
    111.98
    812.88
    50.97
    Other Current Assets 8.74 7.74
    Sub – Total Current Assets 1,181.22 910.24
    Total Assets 15,970.97 13,585.94

    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 Schedule III to the Companies Act, 2013.

    The estimates and assumptions regarding renewals as prescribed by the National Housing Bank (NHB) (which are taken into account for ALM purpose) are not considered while classifying the liabilities into “Current” and “Non-current”.

  • The Board of Directors have recommended a dividend of 3.30 Per Share of face value of 2 each for the financial year ended March 31, 2018.
  • The Board of Directors have recommended the issue of Bonus Shares in the ratio of one equity share of 2 each for every one equity share of 2 each (1:1). This is subject to the approval of the members of the Company at the ensuing Annual General Meeting (AGM).

    Such bonus shares, if approved by the members of the company shall rank pari-passu with the existing equity shares, except for the entitlement of dividend for the financial year ended March 31, 2018.

  • Figures of the quarter ended March 31, 2018 and March 31, 2017 are the balancing figures between audited figures in respect of the full financial year and published year to date figures up to the third quarter of the relevant financial year.
  • Previous period/year figures have been regrouped and reclassified, where necessary, to make them comparable with current period figures.

The above results for the year ended March 31, 2018, which have been subjected to audit by the Auditors of the Company, were reviewed and recommended by the Audit Committee of Directors and subsequently approved by the Board of Directors at its meeting held on April 14, 2018 in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory auditors have expressed an unqualified audit opinion.

April 14, 2018
Mumbai
For GRUH Finance Limited
Sudhin Choksey
Managing Director
(DIN : 00036085)