HDFC PENSION MANAGEMENT COMPANY LIMITED

Transcription

1 HDFC PENSION MANAGEMENT COMPANY LIMITED Un-audited Financial Statements for the half year ended March 31, 2018 SCHEME E TIER I SCHEME E TIER II SCHEME C TIER I SCHEME C TIER II SCHEME G TIER I SCHEME G TIER II SCHEME A TIER I SCHEME A TIER II

2 FINANCIAL STATEMENTS OF THE SCHEMES. a) Scheme E Tier I - Equity market instruments b) Scheme E Tier II - Equity market instruments c) Scheme C Tier I - Credit risk bearing fixed income instruments d) Scheme C Tier II - Credit risk bearing fixed income instruments e) Scheme G Tier I - Government securities f) Scheme G Tier II - Government securities g) Scheme A Tier I - Alternate Investment Funds h) Scheme A Tier II - Alternate Investment Funds

3 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I Un-audited Financial Statements for the half year ended March 31, 2018 Contents Balance Sheet Revenue Account Accounting Policies and Notes to Accounts

4 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I UN-AUDITED BALANCE SHEET AS AT MARCH 31, 2018 Liabilities Schedule Scheme E Tier I Unit Capital 1 5,098,627,559 2,657,539,445 Reserves & Surplus 2 4,882,659,427 2,009,174,248 Current Liabilities and Provisions 3 155,521, ,752,016 Total 10,136,808,059 4,780,465,709 Assets Investments 4 10,124,476,506 4,711,089,458 Deposits Other Current Assets 6 12,331,553 69,376,251 Total 10,136,808,059 4,780,465,709 (a) Net asset as per Balance Sheet (Schedule ) 9,981,286,986 4,666,713,693 (b) Number of units outstanding 509,862, ,753,944 (c) NAV per unit (a)/(b) (`)* Significant accounting policies and notes to accounts 7 The notes referred to above form an integral part of the financial statements. For and on behalf of Board of Directors of HDFC Pension Management Company Limited Amitabh Chaudhry (Director) Vibha Padalkar (Director) Sumit Shukla Fagun Pancholi Nagesh Pai (Chief Executive Officer) (Chief Financial Officer) (Company Secretary) Place : Mumbai Date : April 16, 2018

5 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I UN-AUDITED REVENUE ACCOUNT FOR THE HALF YEAR ENDED MARCH 31, 2018 Schedule Scheme E Tier I Income Dividend 44,734,450 18,281,179 Profit on sale/redemption of investments 56,316,999 23,048,525 Unrealised gain on appreciation in investments 26,860, ,213,634 Total Income (A) 127,911, ,543,338 Expenses & Losses Loss on sale/redemption of investments 7,986,362 7,941,234 Management fees (including Goods and Service Tax / Service Tax) 491, ,737 NPS Trust fees 416, ,902 Custodian fees 110,145 21,856 CRA fees 7,052,393 6,032,258 Less : Amount recoverable on sale of units on account of CRA Charges (7,052,393) (6,032,258) Depository and settlement charges 26,106 12,998 Total Expenditure (B) 9,029,972 8,317,727 Surplus/(Deficit) for the year (A-B = C) 118,881, ,225,611 Less: Amount transferred to Unrealised appreciation account Less: Amount transferred to General Reserve (26,860,291) (271,213,634) (92,021,477) (33,011,977) Amount carried forward to Balance Sheet - - Significant accounting policies and notes to accounts 7 The notes referred to above form an integral part of the financial statements. For and on behalf of Board of Directors of HDFC Pension Management Company Limited Amitabh Chaudhry (Director) Vibha Padalkar (Director) Sumit Shukla Fagun Pancholi Nagesh Pai (Chief Executive Officer) (Chief Financial Officer) (Company Secretary) Place : Mumbai Date : April 16, 2018

6 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I Schedules forming part of the un-audited half yearly financial statements. Schedule 1: Unit capital Initial capital Scheme E Tier I Unit Capital Outstanding at the beginning of the period 3,478,778,146 1,496,314,033 - Add :Units issued during the period 1,771,745,090 1,208,070,668 Less: Units redeemed during the period (151,895,677) (46,845,256) Outstanding at the end of the period 5,098,627,559 2,657,539,445 (Face Value of Rs.10/- each unit, fully paid up) Outstanding units at the beginning of the period 347,877, ,631,403 - Add :Units issued during the period 177,174, ,807,067 Less: Units redeemed during the period (15,189,567) (4,684,526) Outstanding Units at the end of the period 509,862, ,753,944 Schedule 2: Reserves and surplus Scheme E Tier I Unit premium reserve Opening balance 2,150,791, ,220,399 - Add: Premium on Units issued 1,795,745, ,420,919 Less: Premium on Units redeemed (155,473,187) (31,066,932) Closing balance 3,791,064,241 1,443,574,386 General Reserve Opening balance 208,138,618 50,343,061 - Add/(Less): Transfer from/(to) Revenue Account 92,021,477 33,011,977 Closing balance 300,160,095 83,355,038 Unrealised Appreciation Reserve Opening balance 764,574, ,031,190 Add/(Less): Transfer from/(to) Revenue Account 26,860, ,213,634 Add: Adjustment for Previous years unrealised appreciation reserve - - Closing balance 791,435, ,244,824 Total 4,882,659,427 2,009,174,248 Schedule 3: Current liabilities and provisions Current liabilities & Provisions Scheme E Tier I Sundry creditors for expenses 572, ,594 Redemption Payable 5,490,932 3,950,652 TDS Payable 10,907 4,663 Contracts for purchase of investments 149,446, ,476,107 - Total 155,521, ,752,016

7 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I Schedules forming part of the un-audited half yearly financial statements. Schedule 4: Investments (Long Term and Short Term) Scheme E Tier I Equity shares 9,593,123,329 4,513,682,458 Others - Mutual Fund Units 531,353, ,407,000 Total 10,124,476,506 4,711,089,458 Schedule 5: Deposits Scheme E Tier I Deposits with scheduled banks - - Total - - Schedule 6: Other current assets Scheme E Tier I Balances with banks in current account 185,261 25,728 Contracts for sale of investments - 4,497,520 Brokerage receivable from PFM 44,816 15,235 Application money pending allotment 11,791, ,000 Others - Dividend receivable 310,476 1,511,132 Sundry Debtors - Margin Money for Investments - 63,164,636 Total 12,331,553 69,376,251

8 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I Schedule 7 Significant accounting policies & notes to accounts for the half year ended March 31, Background HDFC Pension Management Company Limited ( the Company ) has been appointed as a Pension Fund Manager ( PFM ) by the Pension Fund Regulatory and Development Authority ("PFRDA") for the management of Pension Schemes under the National Pension System ( NPS ). Accordingly, the Company has entered into an Investment Management Agreement ( IMA ) with NPS Trust. The Pension Fund Regulatory and Development Authority (''PFRDA' / ''Authority'') guidelines require each PFM to manage subscribers funds. As per unbundled architecture of the NPS, the main responsibility of PFM is to manage funds in accordance with the laid down guidelines and declare NAV. As per the architecture, the NSDL e-governance Infrastructure Ltd and Karvy Computershare Pvt.Ltd being the Central Recordkeeping Agency (CRA) provides consolidated data to PFM for allotment / redemption of units and Axis Bank, being the Trustee Bank, provides / receives funds on consolidated basis in respect of such allotment / redemption. Central Record Keeping Agency (CRA): National Securities Depository Limited (NSDL),Karvy Computershare Pvt. Ltd and PFRDA have set up Central Recordkeeping Agency (CRA) for the NPS Some of the key responsibilities of the CRA include the following: Record keeping, Administration and Customer service function for NPS subscriber, Providing Unique Permanent Retirement Account Number (PRAN) to each subscriber, Maintaining database of all PRANs issued and recording transactions relating to each subscribers PRAN, PRAN Transaction Statement, An operational interface between PFRDA and other NPS intermediaries such as Pension Funds, Annuity Service Providers, Trust Bank etc. CRA is responsible to resolve all queries pertaining to investors. CRA informs about the fund flow to Pension Fund Managers (PFM) and also instruct Axis Bank to credit PFM's pool account maintained with them. NPS trust has designated Stock Holding Corporation of India Ltd. (SHCIL) as the custodian, who is responsible for safe custody of securities and settlements of trades.

9 The fees payable to CRA, in terms of IMA, is charged to the investor by redeeming the equivalent number of units on receipt of intimation from CRA. As stated above, the amount of funds received from the subscribers is intimated by the Trustee Bank on consolidated basis on T+2 basis. PFM records the same on receipt basis. Accordingly, funds with Trustee Bank at the year end do not get reflected in the financial statements. 1.2 Basis of preparation The financial statements have been prepared to comply with the Pension Fund Regulatory and Development Authority Act, 2013, PFRDA (Preparation of financial statements and Auditor s report of Schemes under National Pension System) Guidelines 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor s report of Schemes under National Pension System) Guidelines 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for SCHEME E TIER I being managed by the Company. The Company manages eight separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C, G and A based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities Scheme A Alternate Investment funds 1.3 Investments Transactions for purchase and sale of securities are accounted on trade date. The holding cost of investments is determined by the weighted average cost method and the cost includes applicable taxes and stamp charges but exclude brokerage and other transactional charges. Investments are reconciled with the custodian records on daily basis.

10 Valuation of Investments The scheme marks all investments to market and carries investments in the Balance Sheet at the market value as on Balance Sheet date / date of determination / date of valuation. The change in unrealised appreciation/depreciation in the value of investments is determined separately for each assets category at the year-end and is recognised in the Revenue Account. The change in net unrealised appreciation, if any, is transferred to /from Unrealised Appreciation Reserve" shown as part of Reserves and Surplus. As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, The Investment valuation methodology adopted by SHCIL is as follows: The following valuation norms are as prescribed by PFRDA (Preparation of Financial Statements and Auditor s Report of schemes under National Pension System) Guidelines Securities traded at a stock exchange: The securities are valued at the daily closing price on the stock exchange. Listed equity shares are valued at market value, being the last quoted closing price on the National stock exchange (NSE). If they are not quoted on NSE, then the last quoted closing price on the Bombay stock exchange (BSE) is taken. Non traded rights are valued at the difference of closing market price of the original equity share for the day and the offer price. Traded rights are valued at the closing market price of the rights renunciation till the time of application. In the event of application of rights, the rights entitlement would be valued at the closing market price of the original equity share till the date of allotment/listing. Mutual fund units are valued based on the net asset values of the preceding day of the valuation date. Securities not traded at a stock exchange: Non traded / thinly traded / privately placed equity securities including those not traded within thirty days are valued in-good faith on the basis of following valuation methods approved by the Authority/Trust: Equity instruments are generally valued on the basis of capitalization of earnings solely or in combination with the net asset value, using for the purposes of capitalization, the price or earning ratios of comparable traded securities and with an appropriate discount for lower liquidity.

11 1.4 Income Recognition Dividend Income is recognised on the "Ex-Dividend" date in case of listed equity shares. Bonus entitled shares are recognised only when the original shares on which the bonus entitlement accrues are traded on the stock exchange on an ex-bonus basis. Rights entitlements are recognized only when the original shares on which the right entitlement accrues are traded on the stock exchange on an ex-rights basis. Profit or loss on sale of equity is the difference between the sale consideration net of expenses and the weighted average book cost as on the date of sale. Profit or loss on sale of mutual fund units is the difference between the sale consideration net of expenses and the weighted average book cost. Interest income on all interest bearing investment is recognised on daily accrual basis; when investments are purchased, interest paid for the period from the last interest due date upto the date of purchase is debited to Interest Recoverable Account and not included in cost of purchase. Similarly interest received at the time of sale for the period from the last interest due date upto the date of sale credited to Interest Recoverable Account and not included in sale value. 1.5 Units reconciliation The subscribers units as per Investment management system are reconciled with Central Recordkeeping Agency (CRA) records on daily basis. 1.6 Investment management fees Investment management fees are recognised on daily accrual basis on closing Asset Under Management (AUM) in accordance with IMA. The Investment management fee is inclusive of brokerage but excludes custodian charges and applicable taxes, if any. The Company has started charging investment management fee of 0.01% per annum (inclusive of brokerage but excluding custodian charges and applicable taxes), with effect from August 01, 2014, in terms of the Pension Fund Regulatory and Development Authority s circular no. PFRDA/6/PFM/9/2 dated July 31, 2014.

12 1.7 Trustee fees The Company has started charging Trustee fee of 0.01% per annum, with effect from November 01, 2015 in terms of the National Pension Scheme Trust circular no. 1/20/2015/NPS dated October 19, Other Expenses Custody charges are recognised on daily accrual basis in accordance with IMA. Trustee bank charges, if any, are recognised when they are debited by the trustee bank on a quarterly basis. 1.9 Unit Premium Reserve Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the Unit Premium Reserve of the Scheme.

13 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I Notes to accounts (un-audited) 2.1 Contingent liabilities Scheme E Tier I Uncalled liability on partly paid shares NIL NIL Other commitments NIL NIL 2.2 Investments All investments are performing investments. All investments of the scheme are in the name of the NPS Trust. All investments are traded investments. 2.3 Details of transactions with sponsor and its related parties Nature of relationship Pension fund manager Sponsor company Associates and group companies Holding Company Mr. Amitabh Chaudhry Ms. Vibha Padalkar Mr. Sumit Shukla Mr. Fagun Pancholi Mr. Nagesh Pai Name of the related party HDFC Pension Management Company Limited HDFC Standard Life Insurance Company Limited HDFC Limited Key Management Personnel Key Management Personnel Key Management Personnel Key Management Personnel Key Management Personnel The following represents significant transactions between the Company and its related parties for the half year ended March 31, 2018 Nature of Transaction Scheme E Tier I Investment management fees 491, ,737 Balances with HDFC Pension Management Company Limited are as follows: Nature of Transaction Scheme E Tier I Investment management fees payable 253, ,177 Aggregate investments made in the Associates and group companies as at March 31, 2018 are as follows: Scheme E Tier I As at March 31, 2018 As at March 31, 2017 Name of the Company Asset type Cost Market Value Cost Market Value HDFC Ltd Equity 23,231,909 35,496,966 23,231,909 29,206,832 Investment with other Group Companies Nature of relationship Associates of Holding Company Name of the related party HDFC Bank Limited Aggregate investments made in the other group companies as at March 31, 2018 are as follows: Scheme E Tier I As at March 31, 2018 As at March 31, 2017 Name of the Company Asset type Cost Market Value Cost Market Value HDFC Bank Ltd Equity 349,035, ,215, ,882, ,781, Provision There are no provisions for doubtful deposits, debts and outstanding and accrued income. 2.5 Aggregate value of purchase and sale with percentage to average assets Aggregate value of purchase and sale with percentage to average assets as at March 31, 2018 is as follows : Particular Scheme E Tier I Average Net Asset Value 8,347,261,601 3,186,764,122 Purchase of Investment 43,516,205,230 19,374,519,193 % to average Net Assets Value % % Sale of Investment 40,030,511,676 17,391,255,343 % to average Net Assets Value % %

14 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I Notes to accounts (un-audited) Aggregate value of purchase and sale (excluding liquid mutual fund)* with percentage to average assets as at March 31, 2018 is as follows : Particular Scheme E Tier I Average Net Asset Value 8,347,261,601 3,186,764,122 Purchase of Investment 3,581,113,189 2,155,357,392 % to average Net Assets Value 42.90% 67.63% Sale of Investment 354,278, ,662,920 % to average Net Assets Value 4.24% 8.87% *Liquid mutual fund investments are held for day to day cash management, hence excluded 2.6 Investments falling under each major industry group The total value of investments falling under each major industry group (which constitutes not less than 5% of the total investments in the major classification of the financials) are disclosed as under: Industry Classification Market value As at March 31, 2018 % of Industry Classification Scheme E Tier I Market value As at March 31, 2017 % of Industry Classification Monetary intermediation of commercial / saving / postal banks 2,413,960, % 1,257,046, % Computer programming, consultancy and related activities 864,861, % 425,817, % Manufacture of refined petroleum products 792,547, % 319,483, % Manufacture of passenger cars 649,912, % 339,928, % Manufacture of cigarettes, cigarette tobacco % 323,846, % Construction of Utility Projects 450,012, % 235,631, % Others 3,940,654, % 1,611,928, % Mutual Funds 531,353, % 197,407, % Net Current Assets -143,189, % -44,375, % Net Asset Value 9,981,286, % 4,666,713, % Note : 1. Industry classification has been taken at sub class level of National Industrial Classification (NIC) Age wise disclosure for Shares/debentures/ others application money pending allotment. Security Name Asset Type Ageing Scheme E Tier I ICICI Prudential Liquid - Direct Plan - Growth. Liquid Mutual Fund Less than 7 Days 11,791, , Prior Year Comparatives : The Figures of the previous period have been regrouped / rearranged, wherever applicable, to conform current year's presentation. 2.9 Note on status of litigation matters with PFRDA The Company is a wholly owned subsidiary of HDFC Standard Life Insurance Company Ltd. and has been a licensed pension fund manager since In 2014, the Pension Fund Regulatory & Development Authority ( PFRDA ) issued a Request for Proposal ( RFP ) inviting bids from Sponsors to select new pension fund managers. The bid of HDFC Life to this RFP was rejected by the PFRDA on the ground that it did not meet certain eligibility criteria under the RFP. The Hon ble Delhi High Court, however, set aside the rejection, directing the PFRDA to grant a Letter of Appointment to HDFC Life thereby allowing the Company to continue its business. While the PFRDA issued a letter of appointment to HDFC Life, it also challenged the Hon ble High Court s decision before the Hon ble Supreme Court of India by way of a Special Leave Petition ( SLP ). The Hon ble Supreme Court, by its order dated July 31, 2017, has dismissed the PFRDA's SLP and refused to interfere with the Hon ble High Court s decision. Accordingly, the Letter of Appointment issued to HDFC Life stands unqualified, with the appointment of HDFC Pension as a pension fund manager being confirmed.

15 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I 3. UN-AUDITED PORTFOLIO STATEMENT FOR THE HALF YEAR ENDED MARCH 31, 2018 (in `) Name of the instrument Market value % of Portfolio Rating (if any) Equity Instruments Shares 1. Reliance Industries Ltd 657,773, % N.A. 2. Infosys Ltd 486,077, % N.A. 3. ITC Ltd 481,174, % N.A. 4. Kotak Mahindra Bank Ltd 480,880, % N.A. 5. ICICI Bank Ltd 474,855, % N.A. 6. HDFC Bank Ltd 451,215, % N.A. 7. Larsen & Toubro Ltd 450,012, % N.A. 8. Maruti Suzuki India Ltd 406,458, % N.A. 9. IndusInd Bank Ltd 377,594, % N.A. 10. Hindustan Unilever Ltd 275,316, % N.A. 11. Mahindra & Mahindra Ltd 243,454, % N.A. 12. Tata Consultancy Services Ltd 227,333, % N.A. 13. Hero Motocorp Ltd 206,368, % N.A. 14. State Bank of India 197,880, % N.A. 15. Axis Bank Ltd 183,364, % N.A. 16. Tata Motors Ltd 182,479, % N.A. 17. Zee Entertainment Enterprises Ltd 178,064, % N.A. 18. Yes Bank Ltd 177,797, % N.A. 19. UltraTech Cement Ltd 177,445, % N.A. 20. Bajaj Finance Ltd 165,688, % N.A. 21. Tata Steel Ltd 165,297, % N.A. 22. National Thermal Power Corporation Ltd 150,849, % N.A. 23. Vedanta Ltd 145,858, % N.A. 24. Asian Paints (India) Ltd 128,729, % N.A. 25. Bharat Petroleum Corporation Ltd 117,388, % N.A. 26. Cipla Ltd 112,564, % N.A. 27. Sun Pharmaceuticals Industries Ltd 112,473, % N.A. 28. HCL Technologies Ltd 112,127, % N.A. 29. Oil & Natural Gas Corporation Ltd 108,326, % N.A. 30. Hindustan Petroleum Corporation Ltd 108,199, % N.A. 31. Bharati Airtel Ltd 101,546, % N.A. 32. Shree Cements Ltd 94,765, % N.A. 33. Power Grid Corporation of India Ltd 84,315, % N.A. 34. Coal India Ltd 78,461, % N.A. 35. Havells India Ltd 76,218, % N.A. 36. Eicher Motors Ltd 75,868, % N.A. 37. Gas Authority of India Ltd 64,453, % N.A. 38. Adani Ports And Special Economic Zone Ltd 63,787, % N.A. 39. Bajaj Finserv Ltd 62,389, % N.A. 40. Bharti Infratel Ltd 56,042, % N.A. 41. Dr Reddys Laboratories Ltd 52,379, % N.A. 42. Nestle India Limited 51,477, % N.A. 43. Exide Industries Ltd 50,231, % N.A. 44. Cholamandalam Investment & Finance Company Ltd 49,219, % N.A. 45. Dabur India Ltd 48,780, % N.A. 46. Bajaj Auto Ltd 47,744, % N.A. 47. Hindalco Industries Ltd 45,028, % N.A. 48. Shriram Transport Finance Co. Ltd 44,254, % N.A. 49. ICICI Prudential Life Insurance Company Limited 42,352, % N.A. 50. Britannia Industries Ltd 39,988, % N.A. 51. Tech Mahindra Ltd 39,323, % N.A. 52. Housing Development Finance Corporation Ltd 35,496, % N.A. 53. MRF Ltd 35,386, % N.A. 54. Petronet LNG Ltd 30,195, % N.A. 55. Ambuja Cements Ltd 28,669, % N.A. 56. Cadila Healthcare Ltd 28,552, % N.A. 57. Bank of Baroda 28,156, % N.A. 58. Godrej Consumer Products Ltd 27,858, % N.A. 59. Indian Oil Corporation Ltd 26,575, % N.A. 60. Mahindra & Mahindra Financial Services Ltd 26,494, % N.A. 61. Wipro Ltd 24,886, % N.A. 62. UPL Ltd 24,406, % N.A. 63. Ashok Leyland Ltd 23,822, % N.A.

16 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I 3. UN-AUDITED PORTFOLIO STATEMENT FOR THE HALF YEAR ENDED MARCH 31, 2018 (in `) Name of the instrument Market value % of Portfolio Rating (if any) 64. Federal Bank Ltd 22,486, % N.A. 65. Bharat Electronics Ltd 21,652, % N.A. 66. Punjab National Bank 19,729, % N.A. 67. Bosch Ltd 19,350, % N.A. 68. Siemens Ltd 18,768, % N.A. 69. Cummins India Ltd 18,072, % N.A. 70. Lupin Ltd 17,642, % N.A. 71. Tata Motors Limited DVR 16,639, % N.A. 72. Hindustan Zinc Ltd 15,552, % N.A. 73. Oracle Financial Services Software Ltd 15,378, % N.A. 74. LIC Housing Finance Ltd 13,240, % N.A. 75. United Spirits Ltd 13,122, % N.A. 76. Rural Electrification Corporation Ltd 11,890, % N.A. 77. Oil India Ltd 10,468, % N.A. 78. Glenmark Pharmaceuticals Ltd 6,947, % N.A. Equity Instruments Total 9,593,123, % Money Market Instruments Liquid Mututal Funds 1. ICICI Prudential Liquid - Direct Plan - Growth 531,353, % AAA Money Market Instruments Total 531,353, % Cash/Cash Equivalent & Net Current Assets (143,189,520) -1.43% Grand Total 9,981,286, % Average Maturity of Portfolio (in yrs) Modified Duration (in yrs) Yield to Maturity (%) (annualised) (at market price) N.A. N.A. N.A. Credit Rating Exposure Central Government Securities - - State Development Loans - - AAA / equivalent - - A1+ / equivalent (Certificate of Deposits / Commercial Papers) - - AA+ / equivalent - - AA / equivalent - - AA- / equivalent - - A+ / equivalent - - A / equivalent - - A- / equivalent - - BBB+ / equivalent - - BBB / equivalent - - BBB- / equivalent - - Lower (Below Investment Grade) - - (out of above Net NPA) - - TOTAL - - Bank FD - - Equity 9,593,123, % Equity Mutual Funds - - Gilt / Money Market Mutual Funds 531,353, % Cash / cash equivalent net current assets (143,189,520) -1.43% Application Pending Allotment - NCDs - - Others - - Grand Total 9,981,286, % Units Outstanding 509,862,756 NAV

17 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I 3. UN-AUDITED PORTFOLIO STATEMENT FOR THE HALF YEAR ENDED MARCH 31, 2018 (in `) Name of the instrument Market value % of Portfolio Rating (if any) Notes: a. Total NPAs provided for and its percentage to NAV b. Total value and percentage of illiquid equity shares c. NAV at September 30,2017* d. NAV at March 31,2018 e. Total outstanding exposure in derivative instruments at March 31, 2018 f. Total 'Infrastructure investments' March 31, * 30th Sep.2017 being the last day of half year and non business day, computed NAV is for disclosure purpose only. The last declared NAV for the half year is 29th Sep.2017.

18 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER I 3.1 KEY STATISTICS FOR THE HALF YEAR ENDED MARCH 31, 2018 (UN-AUDITED) Sr No HPMC-E-T-I Scheme E Tier I 1 NAV per unit (`) I Open High Low End Closing Assets Under Management (` in Lakhs) End 99, , Average daily net assets (AAuM) II 83, , Gross income as % of AAuM III 1.53% 9.81% 4 Expense ratio a Total expense as % of AAuM (scheme wise) IV 0.01% 0.01% b Management fee as % of AAuM (scheme wise) V 0.01% 0.01% 5 Net income as % of AAuM VI 1.42% 9.55% 6 Portfolio turnover ratio VII 4.24% 8.87% 7 Total dividend per unit distributed during the period N.A. N.A. 8 Returns: (%) a Last one year 11.48% 22.96% Benchmark VIII 12.09% 20.87% b Since inception 95.76% 75.60% Benchmark VIII 89.55% 69.10% c Compound annualised yield (%) IX Last 1 year 11.48% 22.96% Last 2 year 17.08% 6.66% Last 3 year 8.25% 13.53% Since launch of the scheme 15.49% 16.60% Launch Date August 01, 2013 I NAV = (Market value of investment held by scheme + value of current assets - value of current liability and provisions, if any) / (no. of units at the valuation date (before creation/ redemption of units) II III IV V VI VII VIII AAuM = Average daily net assets Gross income = Total Income as per Revenue Account Total expenses = Expenses include management fees, custody fees, trustee bank charges but excludes Unrealised /Realised loss Management fee as % of AAuM is annualised Net income = Surplus / Deficit as per Revenue Account Portfolio turnover = Lower of sales or purchase divided by the average AUM for the period. Investments in liquid mutual fund is excluded from the turnover as the same is primarily for liquidity management Post changes in the PFRDA investment regulation vide circular No PFRDA/2015/PFM/08 in September 2015; company has changed the fund management strategy of the equity schemes. Due to this change, the benchmark of the scheme has been changed from Nifty 50 to Nifty 100 TRI effective from October 01, hence since inception returns is not comparable with Benchmark returns. The benchmark return mentioned above represents the return of existing scheme benchmark, which is Nifty 100 TRI. IX Compounded annualised yield is to be calculated based on following formula: = (1+ cumulative return)^n -1 (where n=365/no. of days)

19 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Un-audited Financial Statements for the half year ended March 31, 2018 Contents Balance Sheet Revenue Account Accounting Policies and Notes to Accounts

20 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II UN-AUDITED BALANCE SHEET AS AT MARCH 31, 2018 Liabilities Schedule Scheme E Tier II Unit Capital 1 195,334,803 80,251,831 Reserves & Surplus 2 135,791,307 41,466,931 Current Liabilities and Provisions 3 4,204,712 3,278,316 Total 335,330, ,997,078 Assets Investments 4 318,767, ,012,908 Deposits Other Current Assets 6 16,563,626 1,984,170 Total 335,330, ,997,078 (a) Net asset as per Balance Sheet (Schedule ) 331,126, ,718,762 (b) Number of units outstanding 19,533,480 8,025,183 (c) NAV per unit (a)/(b) (`)* Significant accounting policies and notes to accounts 7 The notes referred to above form an integral part of the financial statements. For and on behalf of Board of Directors of HDFC Pension Management Company Limited Amitabh Chaudhry (Director) Vibha Padalkar (Director) Sumit Shukla Fagun Pancholi Nagesh Pai (Chief Executive Officer) (Chief Financial Officer) (Company Secretary) Place : Mumbai Date : April 16, 2018

21 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II UN-AUDITED REVENUE ACCOUNT FOR THE HALF YEAR ENDED MARCH 31, 2018 Income Dividend 1,523, ,217 Profit on sale/redemption of investments 2,509, ,875 Unrealised gain on appreciation in investments 655,404 7,431,610 Total Income (A) 4,688,700 8,453,702 Expenses & Losses Schedule Scheme E Tier II Loss on sale/redemption of investments 260, ,291 Management fees (including Goods and Service Tax / Service Tax) 16,856 4,890 NPS Trust fees 14,285 4,252 Custodian fees 4, CRA fees 69,178 30,751 Less : Amount recoverable on sale of units on account of CRA Charges (69,178) (30,751) Depository and settlement charges 1, Total Expenditure (B) 296, ,579 Surplus/(Deficit) for the year (A-B = C) 4,392,201 8,198,123 Less: Amount transferred to Unrealised appreciation account Less: Amount transferred to General Reserve (655,404) (7,431,610) (3,736,797) (766,513) Amount carried forward to Balance Sheet - - Significant accounting policies and notes to accounts 7 The notes referred to above form an integral part of the financial statements. For and on behalf of Board of Directors of HDFC Pension Management Company Limited Amitabh Chaudhry (Director) Vibha Padalkar (Director) Sumit Shukla Fagun Pancholi Nagesh Pai (Chief Executive Officer) (Chief Financial Officer) (Company Secretary) Place : Mumbai Date : April 16, 2018

22 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Schedules forming part of the un-audited half yearly financial statements Schedule 1: Unit capital Initial capital Scheme E Tier II Unit capital Outstanding units at the beginning of the period 136,720,406 45,767,322 - Add :Units issued during the period 83,656,629 40,759,135 Less: Units redeemed during the period (25,042,232) (6,274,626) Outstanding at the end of the period 195,334,803 80,251,831 (Face Value of Rs.10/- each unit, fully paid up) Outstanding units at the beginning of the period 13,672,040 4,576,732 - Add :Units issued during the period 8,365,663 4,075,914 Less: Units redeemed during the period (2,504,223) (627,463) Outstanding Units at the end of the period 19,533,480 8,025,183 Schedule 2: Reserves and surplus Scheme E Tier II Unit premium reserve Opening balance 62,476,315 13,179,123 - Add: Premium on Units issued 62,363,040 17,162,613 Less: Premium on Units redeemed (18,785,123) (2,676,069) Closing balance 106,054,232 27,665,667 General Reserve Opening balance 4,762,137 1,166,653 - Add/(Less): Transfer from/(to) Revenue Account 3,736, ,513 Closing balance 8,498,934 1,933,166 Unrealised Appreciation Reserve Opening balance 20,582,737 4,436,488 Add/(Less): Transfer from/(to) Revenue Account 655,404 7,431,610 Closing balance 21,238,141 11,868,098 Total 135,791,307 41,466,931 Schedule 3: Current liabilities and provisions Current liabilities & Provision Scheme E Tier II Sundry creditors for expenses 19,683 8,652 Redemption Payable 1,590, ,759 TDS Payable Contracts for purchase of investments 2,594,086 3,024,780 Total 4,204,712 3,278,316

23 NATIONAL PENSION SYSTEM TRUST NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Schedules forming part of the un-audited half yearly financial statements Schedule 4: Investments (Long Term and Short Term) Scheme E Tier II Equity shares 318,767, ,256,908 Others - Mutual Fund Units - 5,756,000 Total 318,767, ,012,908 Schedule 5: Deposits Scheme E Tier II Deposits with scheduled banks - - Total - - Schedule 6: Other current assets Scheme E Tier II Balances with banks in current account 16,551,712 9,619 Contracts for sale of investments - 114,290 Sundry debtors - 1,819,789 Brokerage receivable from PFM Dividend receivable 11,136 40,076 Total 16,563,626 1,984,170

24 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Schedule 7 Significant accounting policies & notes to accounts for the half year ended March 31, Background HDFC Pension Management Company Limited ( the Company ) has been appointed as a Pension Fund Manager ( PFM ) by the Pension Fund Regulatory and Development Authority ("PFRDA") for the management of Pension Schemes under the National Pension System ( NPS ). Accordingly, the Company has entered into an Investment Management Agreement ( IMA ) with NPS Trust. The Pension Fund Regulatory and Development Authority (''PFRDA' / ''Authority'') guidelines require each PFM to manage subscribers funds. As per unbundled architecture of the NPS, the main responsibility of PFM is to manage funds in accordance with the laid down guidelines and declare NAV. As per the architecture, the NSDL e-governance Infrastructure Ltd and Karvy Computershare Pvt.Ltd being the Central Recordkeeping Agency (CRA) provides consolidated data to PFM for allotment / redemption of units and Axis Bank, being the Trustee Bank, provides / receives funds on consolidated basis in respect of such allotment / redemption. Central Record Keeping Agency (CRA): National Securities Depository Limited (NSDL),Karvy Computershare Pvt. Ltd and PFRDA have set up Central Recordkeeping Agency (CRA) for the NPS Some of the key responsibilities of the CRA include the following: Recording keeping, Administration and Customer service function for NPS subscriber, Providing Unique Permanent Retirement Account Number (PRAN) to each subscriber, Maintaining database of all PRANs issued and recording transactions relating to each subscribers PRAN, PRAN Transaction Statement, An operational interface between PFRDA and other NPS intermediaries such as Pension Funds, Annuity Service Providers, Trust Bank etc. CRA is responsible to resolve all queries pertaining to investors. CRA informs about the fund flow to Pension Fund Managers (PFM) and also instruct Axis Bank to credit PFM's pool account maintained with them. NPS trust has designated Stock Holding Corporation of India Ltd. (SHCIL) as the custodian, who is responsible for safe custody of securities and settlements of trades.

25 The fees payable to CRA, in terms of IMA, is charged to the investor by redeeming the equivalent number of units on receipt of intimation from CRA. As stated above, the amount of funds received from the subscribers is intimated by the Trustee Bank on consolidated basis on T+2 basis. PFM records the same on receipt basis. Accordingly, funds with Trustee Bank at the year end do not get reflected in the financial statements. 1.2 Basis of preparation The financial statements have been prepared to comply with the Pension Fund Regulatory and Development Authority Act, 2013, PFRDA (Preparation of financial statements and Auditor s report of Schemes under National Pension System) Guidelines 2012, Accounting Standards notified under the Companies Act, 1956 to the extent made applicable by PFRDA (Preparation of financial statements and Auditor s report of Schemes under National Pension System) Guidelines 2012 and generally accepted accounting principles. These financial statements have been prepared on an accrual basis, except as otherwise stated. The financials have been prepared for SCHEME E TIER II being managed by the Company. The Company manages eight separate schemes under the two tiered structure (Tier I and II) prescribed under the NPS. The schemes are classified as Scheme E, C, G and A based on the asset class prescribed under the NPS as follows: Scheme E - Equity market instruments Scheme C - Credit risk bearing fixed income instruments Scheme G - Government securities Scheme A Alternate Investment funds 1.3 Investments Transactions for purchase and sale of securities are accounted on trade date. The holding cost of investments is determined by the weighted average cost method and the cost includes applicable taxes and stamp charges but exclude brokerage and other transactional charges. Investments are reconciled with the custodian records on daily basis.

26 Valuation of Investments The scheme marks all investments to market and carries investments in the Balance Sheet at the market value as on Balance Sheet date / date of determination / date of valuation. The change in unrealised appreciation/depreciation in the value of investments is determined separately for each assets category at the year-end and is recognised in the Revenue Account. The change in net unrealised appreciation, if any, is transferred to /from Unrealised Appreciation Reserve" shown as part of Reserves and Surplus. As per directive received from NPS Trust, the valuation of investments is carried out by Stock Holding Corporation of India Limited (SHCIL) effective April 1, The Investment valuation methodology adopted by SHCIL is as follows: The following valuation norms are as prescribed by PFRDA (Preparation of Financial Statements and Auditor s Report of schemes under National Pension System) Guidelines Securities traded at a stock exchange: The securities are valued at the daily closing price on the stock exchange. Listed equity shares are valued at market value, being the last quoted closing price on the National stock exchange (NSE). If they are not quoted on NSE, then the last quoted closing price on the Bombay stock exchange (BSE) is taken. Non traded rights are valued at the difference of closing market price of the original equity share for the day and the offer price. Traded rights are valued at the closing market price of the rights renunciation till the time of application. In the event of application of rights, the rights entitlement would be valued at the closing market price of the original equity share till the date of allotment/listing. Mutual fund units are valued based on the net asset values of the preceding day of the valuation date. Securities not traded at a stock exchange: Non traded / thinly traded / privately placed equity securities including those not traded within thirty days are valued in-good faith on the basis of following valuation methods approved by the Authority/Trust: Equity instruments are generally valued on the basis of capitalization of earnings solely or in combination with the net asset value, using for the purposes of capitalization, the price or earning ratios of comparable traded securities and with an appropriate discount for lower liquidity.

27 1.4 Income Recognition Dividend Income is recognised on the "Ex-Dividend" date in case of listed equity shares. Bonus entitled shares are recognised only when the original shares on which the bonus entitlement accrues are traded on the stock exchange on an ex-bonus basis. Rights entitlements are recognized only when the original shares on which the right entitlement accrues are traded on the stock exchange on an ex-rights basis. Profit or loss on sale of equity is the difference between the sale consideration net of expenses and the weighted average book cost as on the date of sale. Profit or loss on sale of mutual fund units is the difference between the sale consideration net of expenses and the weighted average book cost. Interest income on all interest bearing investment is recognised on daily accrual basis; when investments are purchased, interest paid for the period from the last interest due date upto the date of purchase is debited to Interest Recoverable Account and not included in cost of purchase. Similarly interest received at the time of sale for the period from the last interest due date upto the date of sale credited to Interest Recoverable Account and not included in sale value. 1.5 Units reconciliation The subscribers units as per Investment management system are reconciled with Central Recordkeeping Agency (CRA) records on daily basis. 1.6 Investment management fees Investment management fees are recognised on daily accrual basis on closing Asset Under Management (AUM) in accordance with IMA. The Investment management fee is inclusive of brokerage but excludes custodian charges and applicable taxes, if any. The Company has charged investment management fee of 0.01% per annum (inclusive of brokerage but excluding custodian charges and applicable taxes), with effect from August 01, 2014, in terms of the Pension Fund Regulatory and Development Authority s circular no. PFRDA/6/PFM/9/2 dated July 31, 2014.

28 1.7 Trustee fees The Company has started charging Trustee fee of 0.01% per annum, with effect from November 01, 2015 in terms of the National Pension Scheme Trust circular no. 1/20/2015/NPS dated October 19, Other Expenses Custody charges are recognised on daily accrual basis in accordance with IMA. Trustee bank charges, if any, are recognised when they are debited by the trustee bank on a quarterly basis. 1.9 Unit Premium Reserve Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the Unit Premium Reserve of the Scheme.

29 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Notes to accounts (Un-audited) 2.1 Contingent liabilities Scheme E Tier II Uncalled liability on partly paid shares NIL NIL Other commitments NIL NIL 2.2 Investments All investments are performing investments. All investments of the scheme are in the name of the NPS Trust. All investments are traded investments. 2.3 Details of transactions with sponsor and its related parties Nature of relationship Pension fund manager Sponsor company Associates and group companies Holding Company Mr. Amitabh Chaudhry Ms. Vibha Padalkar Mr. Sumit Shukla Mr. Fagun Pancholi Mr. Nagesh Pai Name of the related party HDFC Pension Management Company Limited HDFC Standard Life Insurance Company Limited HDFC Limited Key Management Personnel Key Management Personnel Key Management Personnel Key Management Personnel Key Management Personnel The following represents significant transactions between the Company and its related parties for the half year ended March 31, 2018 Nature of Transaction Scheme E Tier II Investment management fees 16,856 4,890 Balances with HDFC Pension Management Company Limited are as follows: Nature of Transaction Scheme E Tier II Investment management fees payable 8,666 2,684 Aggregate investments made in the Associates and group companies as at March 31, 2018 are as follows: Scheme E Tier II Name of the Company Asset type Cost Market Value Cost Market Value HDFC Ltd Equity 858,402 1,296, ,402 1,066,491 Investment with other Group Companies Nature of relationship Associates of Holding Company Name of the related party HDFC Bank Limited Aggregate investments made in the other group companies as at March 31, 2018 are as follows: Scheme E Tier II Name of the Company Asset type Cost Market Value Cost Market Value HDFC Bank Ltd Equity 12,247,727 15,024,673 3,853,582 4,670, Provision There are no provisions for doubtful deposits, debts and outstanding and accrued income. 2.5 Aggregate value of purchase and sale with percentage to average assets Aggregate value of purchase and sale with percentage to average assets as at March 31, 2018 is as follows : Particular Scheme E Tier II Average Net Asset Value 286,483,232 85,273,252 Purchase of Investment 1,427,875, ,364,048 % to average Net Assets Value % % Sale of Investment 1,335,060, ,667,406 % to average Net Assets Value % %

30 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II Notes to accounts (Un-audited) Aggregate value of purchase and sale (excluding liquid mutual fund)* with percentage to average assets as at March 31, 2018 is as follows : Particular Scheme E Tier II Average Net Asset Value 286,483,232 85,273,252 Purchase of Investment 115,041,855 55,602,148 % to average Net Assets Value 40.16% 65.20% Sale of Investment 14,279,933 7,659,919 % to average Net Assets Value 4.98% 8.98% *Liquid mutual fund investments are held for day to day cash management, hence excluded 2.6 Investments falling under each major industry group The total value of investments falling under each major industry group (which constitutes not less than 5% of the total investments in the major classification of the financials) are disclosed as under: Industry Classification Market value As at March 31, 2018 % of Industry Classification Scheme E Tier II Market value As at March 31, 2017 % of Industry Classification Monetary intermediation of commercial / saving / postal banks 80,448, % 33,079, % Computer programming, consultancy and related activities 28,642, % 11,105, % Manufacture of refined petroleum products 25,852, % 7,678, % Manufacture of passenger cars 21,545, % 9,057, % Manufacture of cigarettes, cigarette tobacco 16,411, % 8,823, % Others 145,867, % 47,512, % Mutual Funds % 5,756, % Net Current Assets 12,358, % (1,294,146) -1.06% Net Asset Value 331,126, % 121,718, % Note : 1) Industry classification has been taken at sub class level of National Industrial Classification (NIC) Age wise disclosure for Shares/debentures/ others application money pending allotment. Security Name Asset Type Ageing Scheme E Tier II NIL NIL NIL NIL 2.8 Prior Year Comparatives : The Figures of the previous period have been regrouped / rearranged, wherever applicable, to conform current year's presentation. 2.9 Note on status of litigation matters with PFRDA The Company is a wholly owned subsidiary of HDFC Standard Life Insurance Company Ltd. and has been a licensed pension fund manager since In 2014, the Pension Fund Regulatory & Development Authority ( PFRDA ) issued a Request for Proposal ( RFP ) inviting bids from Sponsors to select new pension fund managers. The bid of HDFC Life to this RFP was rejected by the PFRDA on the ground that it did not meet certain eligibility criteria under the RFP. The Hon ble Delhi High Court, however, set aside the rejection, directing the PFRDA to grant a Letter of Appointment to HDFC Life thereby allowing the Company to continue its business. While the PFRDA issued a letter of appointment to HDFC Life, it also challenged the Hon ble High Court s decision before the Hon ble Supreme Court of India by way of a Special Leave Petition ( SLP ). The Hon ble Supreme Court, by its order dated July 31, 2017, has dismissed the PFRDA's SLP and refused to interfere with the Hon ble High Court s decision. Accordingly, the Letter of Appointment issued to HDFC Life stands unqualified, with the appointment of HDFC Pension as a pension fund manager being confirmed.

31 NPS TRUST A/C HDFC PENSION MANAGEMENT COMPANY LIMITED - SCHEME E TIER II 3. UN-AUDITED PORTFOLIO STATEMENT FOR THE HALF YEAR ENDED MARCH 31, 2018 Name of the instrument Market value % of Portfolio Rating (if any) Equity Instruments Shares 1. Reliance Industries Ltd 21,367, % N.A. 2. ITC Ltd 16,411, % N.A. 3. ICICI Bank Ltd 16,130, % N.A. 4. Infosys Ltd 15,739, % N.A. 5. Larsen & Toubro Ltd 15,585, % N.A. 6. Kotak Mahindra Bank Ltd 15,493, % N.A. 7. HDFC Bank Ltd 15,024, % N.A. 8. Maruti Suzuki India Ltd 13,096, % N.A. 9. IndusInd Bank Ltd 12,487, % N.A. 10. Hindustan Unilever Ltd 9,381, % N.A. 11. Mahindra & Mahindra Ltd 8,448, % N.A. 12. Tata Consultancy Services Ltd 7,704, % N.A. 13. Hero Motocorp Ltd 7,007, % N.A. 14. State Bank of India 6,838, % N.A. 15. Axis Bank Ltd 6,272, % N.A. 16. Tata Motors Ltd 6,170, % N.A. 17. UltraTech Cement Ltd 6,055, % N.A. 18. Zee Entertainment Enterprises Ltd 5,983, % N.A. 19. Yes Bank Ltd 5,802, % N.A. 20. Bajaj Finance Ltd 5,260, % N.A. 21. Tata Steel Ltd 5,245, % N.A. 22. National Thermal Power Corporation Ltd 5,185, % N.A. 23. Vedanta Ltd 4,952, % N.A. 24. Asian Paints (India) Ltd 4,267, % N.A. 25. Bharat Petroleum Corporation Ltd 3,923, % N.A. 26. HCL Technologies Ltd 3,840, % N.A. 27. Sun Pharmaceuticals Industries Ltd 3,787, % N.A. 28. Cipla Ltd 3,786, % N.A. 29. Bharati Airtel Ltd 3,646, % N.A. 30. Hindustan Petroleum Corporation Ltd 3,613, % N.A. 31. Oil & Natural Gas Corporation Ltd 3,341, % N.A. 32. Shree Cements Ltd 3,158, % N.A. 33. Power Grid Corporation of India Ltd 3,055, % N.A. 34. Coal India Ltd 2,617, % N.A. 35. Eicher Motors Ltd 2,610, % N.A. 36. Adani Ports And Special Economic Zone Ltd 2,225, % N.A. 37. Gas Authority of India Ltd 2,198, % N.A. 38. Bajaj Finserv Ltd 2,135, % N.A. 39. Havells India Ltd 1,899, % N.A. 40. Dr Reddys Laboratories Ltd 1,731, % N.A. 41. Exide Industries Ltd 1,728, % N.A. 42. Nestle India Limited 1,681, % N.A. 43. Dabur India Ltd 1,649, % N.A. 44. Bajaj Auto Ltd 1,561, % N.A. 45. Hindalco Industries Ltd 1,526, % N.A. 46. Shriram Transport Finance Co. Ltd 1,441, % N.A. 47. ICICI Prudential Life Insurance Company Limited 1,417, % N.A. 48. Tech Mahindra Ltd 1,357, % N.A. 49. Britannia Industries Ltd 1,356, % N.A. 50. Housing Development Finance Corporation Ltd 1,296, % N.A. 51. Bharti Infratel Ltd 1,225, % N.A. 52. MRF Ltd 1,160, % N.A. 53. Petronet LNG Ltd 1,048, % N.A. 54. Ambuja Cements Ltd 947, % N.A. 55. Godrej Consumer Products Ltd 940, % N.A. 56. Bank of Baroda 937, % N.A. 57. Mahindra & Mahindra Financial Services Ltd 934, % N.A. 58. Cholamandalam Investment & Finance Company Ltd 910, % N.A. 59. UPL Ltd 874, % N.A. 60. Indian Oil Corporation Ltd 871, % N.A. 61. Wipro Ltd 845, % N.A. 62. Federal Bank Ltd 788, % N.A. 63. Ashok Leyland Ltd 763, % N.A. 64. Bharat Electronics Ltd 752, % N.A. 65. Punjab National Bank 671, % N.A. 66. Bosch Ltd 648, % N.A. 67. Cadila Healthcare Ltd 621, % N.A. 68. Siemens Ltd 617, % N.A. 69. Cummins India Ltd 607, % N.A. 70. Lupin Ltd 592, % N.A. 71. Oracle Financial Services Software Ltd 565, % N.A. 72. Hindustan Zinc Ltd 557, % N.A. (in `)