Capital First has a strong distribution set up through 202 branches, with 1272 employees across India covering 40 cities.

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2 Overview Capital First Ltd. is a Systemically important NBFC with record of consistent growth & profitability. Capital First has a comprehensive product suite to meet multiple financial needs of customers including Consumer Lending, Corporate Lending and Wealth Management services Capital First has Loan Assets of Rs bn (~ $ mn*) as of 30 September Capital First focuses on secured lending with high asset quality Gross and Net NPA of the Company stood at 0.18% and 0.04% respectively as of 30 September Capital First has a strong distribution set up through 202 branches, with 1272 employees across India covering 40 cities. The Net Worth of the Company is Rs billon as of 30 September 2012 On 04th December, 2012, Warburg Pincus completed the acquisition of 70 % of the equity shares of Future Capital Holdings Limited, through their fund called WP XI. The company has been renamed as Capital First Limited. ( The long term credit rating of the Company has been revised to AA+ by CARE Ratings. The existing NCD program of the company has been upgraded to AA+. The subordinated debt program of the company has also been assigned AA+ rating by Brickworks. Corporate Presentation 2

3 Our Vision To be a leading financial services provider, admired for high level of customer service, and respected for ethics, values and corporate governance. To provide Micro, Small and Medium Enterprises in India with debt capital and services to support the growth of the MSME sector. To finance the growing consumption needs of the Indian consumers, which is driven by increased affluence, growing aspirations and favourable demographics. Corporate Presentation 3

4 Comprehensive Suite of Products & Services Borrowing needs Protection needs Mortgages (for SMEs) Gold Loans Consumer Durable Loans Two Wheeler Loans Home Loans Wholesale loans and syndication Customer Distribution of : Life Insurance General Insurance Auto Insurance Health insurance Personal accident insurance Travel insurance Distribution of : Property Broking Mutual Funds Real Estate Funds Equity Broking Commodity Broking Estate Planning- Creation of Private Trust Wills Creation Real estate Advisory Wealth Management Financial Planning Investment needs Planning needs Corporate Presentation 4

5 Loan Assets Under Management Changing Composition 7% 93% 72% 28% 44% 56% 32% 68% FY10 FY11 FY12 H1-FY13 Wholesale Credit Retail Credit Going forward, the company will continue to increase its focus on retail businesses. Corporate Presentation 5

6 Retail Loan Book Composition Q2-FY13 Mortgage Loans 74% Others 6% Consumption Loans 3% Two-wheeler Loans 3% Gold Loans 14% The retail loan book of the Company has increased by 56% from Rs Bn in Q2-FY12 to Rs Bn in Q2-FY13 Corporate Presentation 6

7 Branch Network Amritsar: Jalandhar: Chandigarh: Delhi & NCR Jaipur Ajmer Kotta Jodhpur Udaipur Bhopal Ahmadabad Baroda Rajkot Indore Surat: Nasik Mumbai& Thane Pune Bangalore Coimbatore Ludhiana Dehradun Chennai Vellore Salem Through an Extensive Branch Network, Capital First has reached Customers across most of the states and major cities (Tier -1, Tier -2) in India Lucknow Vizag Hyderabad Raipur Nagpur Bhubaneswar Kolkata Total 202 Branches Corporate Presentation 7

8 Processes Underwriting Control At Capital First, there is segregation of authorities and responsibilities across all functions. Sales, credit, operations and collections are independent of each other, with independent reporting lines. We underwrite all loans on the basis of cash flow capability of the customers as well as LTV norms. Proposals are checked with credit bureaus, and loans are approved only if the customers have a clear record with India s leading Credit Bureau, CIBIL. A robust collections infrastructure is in place. Corporate Presentation 8

9 Mortgages Application to Approval Ratio Rigorous and robust credit assessment processes in Capital First help in maintaining the high asset quality and low NPA levels In Mortgages, 29% of the total applications are disbursed after passing through several levels of scrutiny and checks, mainly centred around cash flow evaluation, credit bureau and reference checks Application Logged in CIBIL Rejections Rejections due to Insufficient Cashflow Rejections after Personal Interview Rejections due to Defective Title Deeds Others Rejections Net Disbursals Corporate Presentation 9

10 Funding (as on 30 Sep 2012) Equity, 17% Long Term NCD, 9% Bank Borrowings, 69% Long Term Short Term Borrowings, 5% Long Term The Company follows a prudent policy of matched funding for all assets. Majority of the borrowing are long term in nature. Corporate Presentation 10

11 Equity Shareholding Pattern (as on 21 Dec 2012) Promoters (Warburg Pincus- Cloverdell), 70.28% Others, 3.49% Individuals, 7.49% Bodies Corporate, 17.34% Financial Institutions, 0.43% FII, 0.97% On fully diluted basis Financial Institutions include Banks, Mutual Funds, Insurance Companies and other Financial Institutions Others include NRI-Repatriable, NRI-Non-Repatriable, Clearing Members and Trusts Corporate Presentation 11

12 Financials Corporate Presentation 12

13 Significant Changes in Accounting Policy in FY 13 During the quarter ending September 2012, the company changed the accounting policy and made it more conservative. These changes and its impact on the P and L are described below. The company, in the course of its normal business collects fees for wholesale lending, receives income by assigning loans, and pays fees for securing credit limits to financial institutions. The net income from such activities in FY12 was Rs. 946 mn. On an average, the net income every quarter from such activities,booked upfront, infy12, was Rs. 236 mn. So far, the company has followed a policy of booking this income upfront. From Q2-FY13, this income is being amortized over the average tenure of loans, and therefore the profits will accrue to the P&L of the company over the life of the loan. Since in FY12 the above income was accounted upfront, and in FY13 this is being amortized, the YOY and QOQ financials are not comparable. Corporate Presentation 13

14 Simulation on effect of Amortization of Income in FY 13 This slide is a simulation to understand the impact of the new policy of amortising net income. For purpose of this simulation, the actual performance of FY12 for income from such activities has been assumed constant over next 8 quarters, and the impact has been demonstrated here. This is merely a simulation assuming past performance continuing into the future periods. All Figures are in Rs. Mn Net Income Booked in New Accounting Method Net Income Booked in Old Accounting Method Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q Q Q Q Q Q Q Q Net Income Booked under New Accounting Method (A) Net Income Booked under Old Accounting Method (B) ve Impact on P&L under New Accounting Method (B-A) As seen from the table above, in the next few quarters, the income and hence the profit in a quarter for the Company is expected to be reduced by about Rs Mn on account of these items as per the change in Accounting Policy. The impact is neutralised over time. Corporate Presentation 14

15 Profit & Loss (Consolidated) All figures are in Rs. mn unless specified Particulars Q2-FY 13 Q2-FY 12 Interest Income 1, , Less: Interest Expense 1, Net Interest Income (NII) Income from Assignment Fee income Other Income Total Income Opex Operating profit Provision PBT Tax PAT Corporate Presentation 15

16 Balance Sheet (Consolidated) All figures are in Rs. mn unless specified Particulars SOURCES OF FUNDS As on September 30, 2012 As on March 31, 2012 Net worth 9,794 8,316 Loan funds 46,981 43,863 Total 56,775 52,179 APPLICATION OF FUNDS Fixed Assets 413 1,087 Deferred Tax Asset (net) Investments Current Assets, Loans & Advances Loan Book 44,206 46,704 Other current assets and advances 15,970 8,772 Less: Current liabilities and provisions 4,029 4,681 Net current assets 56,146 50,795 Total 56,775 52,179 Corporate Presentation 16

17 Capital First Limited India Bulls Finance Centre Tower II, 15th Floor Senapati Bapat Marg Elphinston (West) Mumbai Website Investor Relations - Investor.relations@capitalfirst.com Telephone Corporate Presentation 17

18 Mr. V. Vaidyanathan is the Chairman and Managing Director of Capital First Limited. Recently, Warburg Pincus, one of the worlds most reputed Private Equity players, with funds of over US$ 40 billion in 36 countries, has acquired a majority stake in Capital First Limited. Concluding the unique Management Buyout of Future Capital with Warburg Pincus is one of his most significant professional achievements. Capital First Limited is a leading player in financing Micro, Small and Medium enterprises. (MSMEs) and is listed on NSE and BSE. The company also provides Gold loans, Two Wheeler loans, Consumer Durable loans and uses cutting edge technologies in on-boarding and customer lifecycle management. Capital First Limited also offers Broking services for Equities and Commodities. Prior to this, he was the Managing Director and CEO of ICICI Prudential Life Insurance Company Limited. He was earlier appointed Executive Director on the Board of ICICI Bank at the age of 38. He was also the Chairman of ICICI Home Finance Co. Ltd, and served on the Board of ICICI Lombard General Insurance Company and CIBIL, India s first credit bureau. He worked with Citibank India from 1990 to At ICICI Bank he was responsible for launching and building the Retail Banking Business in 2000 and taking it market leadership, which helped ICICI bank become a large retail powerhouse in the country. He also built the SME business and Rural Banking Business for the bank. His contribution includes building a network of 1400 Retail branches, building a vast deposit base, a franchise of 25 million customers, and a loan book of USD 30 billion in Mortgages, Auto and Consumer loans. The Retail, Rural & SME Banking Business were key drivers to help transition ICICI from a Domestic Financial Institution to a Universal Bank. His key passion is the usage of new age technology to expand retail lending and deposits to a vast expanse of India covering 800 cities. Over the years, his contribution won him many domestic and international awards including Best Retail bank in Asia 2001, Excellence in Retail Banking Award 2002, Best Retail Bank in India 2003, 2004, and 2005 from the Asian Banker, Most Innovative Bank 2007, and was Retail Banker of the Year by EFMA Europe for He is a regular invitee for speaking at domestic and international conferences. He is an alumnus of Birla Institute of Technology and Harvard Business School. He is a regular marathoner and has run 7 marathons. He lives in Mumbai with his family of father, wife and three children. Corporate Presentation 18

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