STANDALONE BALANCE SHEET AS AT SEPTEMBER 30, 2017 (As per Revised Schedule VI format) Rs in Crore As at EQUITY AND LIABILITIES SHAREHOLDERS' FUNDS Share Capital 319.02 316.79 Reserves and Surplus 40,395.65 36,676.85 Money received against Warrants 51.10 51.10 40,765.77 37,044.74 NON-CURRENT LIABILITIES Long-Term Borrowings 166,615.62 138,313.95 Deferred Tax Liablity (Net) 2,531.58 1,505.75 Other Long-Term Liabilities 1,975.44 2,142.20 Long-Term Provisions 2,134.83 2,510.27 173,257.47 144,472.17 CURRENT LIABILITIES Short-Term Borrowings 41,520.53 39,087.94 Trade Payables 273.28 132.74 Other Current Liabilities - Borrowings 91,301.75 77,565.43 - Others 10,949.69 11,486.88 Short-Term Provisions 219.75 210.67 144,265.00 128,483.66 358,288.24 310,000.57 ASSETS NON-CURRENT ASSETS Fixed Assets (i) Tangible Assets 636.99 648.72 (ii) Intangible Assets 4.75 4.41 Non-current Investments 17,942.29 15,060.60 Deferred tax asset (net) Long-Term Loans and Advances -Loans 292,835.66 244,276.85 -Others 3,449.23 3,016.37 Other Non-Current Assets 2,016.90 2,541.68 316,885.82 265,548.63 CURRENT ASSETS Current Investments 7,163.07 4,930.34 Trade Receivables* 129.11 72.13 Cash and Cash equivalents 1,161.92 1,463.58 Short term Loans and Advances - Loans 30,130.94 30,510.50 - Others 1,794.68 5,688.90 Other Current Assets 1,022.70 1,786.49 41,402.42 44,451.94 358,288.24 310,000.57 Loans securitised - on which spread is earned over the life of the 43,435 35,858 loan Loans sold during the last 12 months 15,433 13,086
STANDALONE STATEMENT OF PROFIT AND LOSS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2017 FY18H1 FY17H1 H1Growth FY18Q2 FY17Q2 Q2 Growth FY18Q1 FY17Q1 Q1Growth Interest & Other Operating Income 16,177.52 14,902.35 8,146.34 7,545.00 8,031.18 7,357.35 Interest and Other Charges 10,978.43 10,372.02 5,534.05 5,245.86 5,444.38 5,126.16 Net Interest Income 5,199.09 4,530.33 15% 2,612.29 2,299.14 14% 2,586.80 2,231.19 16% Add: Fees 367.96 385.38 159.87 196.61 208.09 188.77 Less: Commissions 328.06 271.34 157.68 134.43 170.38 136.91 5,238.99 4,644.37 13% 2,614.48 2,361.32 11% 2,624.51 2,283.05 15% Less: Non Interest Expenses Staff Expenses 220.23 199.48 104.76 93.26 115.47 106.22 Establishment Expenses 51.21 48.01 21.79 21.28 29.42 26.73 Other Expenses 183.86 156.62 86.44 76.24 97.42 80.38 Depreciation & Amortisation Expenses 23.09 28.12 11.76 14.01 11.33 14.11 Provisions and Contingencies 180.00 160.00 95.00 95.00 85.00 65.00 658.39 592.23 319.75 299.79 338.64 292.44 Other Income 21.24 22.90 10.36 11.84 10.88 11.06 Dividend Income 596.47 507.48 536.59 456.03 59.88 51.45 Profit Before Tax and Sale of Investmen 5,198.31 4,582.52 13% 2,841.68 2,529.40 12% 2,356.63 2,053.12 15% Profit on Sale of Investments^ 67.55 949.71 65.44 28.10 2.11 921.61 Less: Special Provision - 275.00 - - - 275.00 Profit Before Tax 5,265.86 5,257.23 0% 2,907.12 2,557.50 14% 2,358.74 2,699.73-13% Provision for Tax (net of Deferred Tax) 1,396.00 1,366.89 698.00 627.52 698.00 739.37 Profit After Tax but before DTL on 3,869.86 3,890.34 2,209.12 1,929.98 1,660.74 1,960.36 Special Reserve -1% 14% -15% Provision for DTL on Special Reserve 213.00 193.11 108.00 103.48 105.00 89.63 Profit After Tax 3,656.86 3,697.23-1% 2,101.12 1,826.50 15% 1,555.74 1,870.73-17% ^ FY17Q1 pertains to the profit on sale of stake in HDFC ERGO General Insurance Company Limited to ERGO International AG. Analysis of Profits FY18H1 FY17H1 H1Growth Reported Profit Before Tax 5,266 5,257 Adjustment for One Time Items Less: Profit on Sale of Investment * 920 Add: Additional Special Provision 275 Adjusted Profit Before Tax 5,266 4,612 14% * FY17Q1 : Sale of equity stake in HDFC ERGO to ERGO International AG
STANDALONE HIGHLIGHTS - SEPTEMBER 30, 2017 Spread on Individual Loans 1.92% 1.95% Spread on Non individual loans 3.07% 3.04% Spread on Loans 2.29% 2.28% Net interest margin 3.9% 3.9% Book Value per Share (Rs) 256 234 Adjusted Book Value - adjusted for unrealised gains on listed 902 680 investments (Rs) Earnings per Share - Basic (Rs)# 22.98 23.33 Earnings per Share - Diluted (Rs)# 22.72 23.14 Risk Weighted Assets 271,552 229,731 Capital adequacy ratio * 15.1% 16.5% of which Tier I 12.6% 13.3% Tier II 2.5% 3.2% Non performing loans - Individual Loans 0.65% 0.61% Non performing loans - Non Individual Loans 2.18% 1.11% Non performing loans 1.14% 0.76% Regulatory Provisions for Non-performing Loans 1,000.72 618.86 Provisions for Standard Assets & Contingencies 2,234.71 2,500.31 Total Provisions 3,235.43 3,119.17 Interest on Zero Coupon Debentures utilised from securities premium account 292.24 295.38 # Pertains to the half year *CAR is after reducing the investment in HDFC Bank from Tier I capital. Deferred Tax Liability on Special Reserve is considered as a deduction in the computation of Tier I capital. The Corporation s stance remains that it will never utilise this Reserve, hence the tax liability on Special Reserve will not materialise.
STANDALONE SCHEDULES - SEPTEMBER 30, 2017 FY18H1 FY17H1 H1 Growth FY18Q2 FY17Q2 Q2 Growth FY18Q1 FY17Q1 Q1 Growth INCOME FROM OPERATIONS Interest on Loans 15,396.15 14,193.98 8% 7,781.07 7,197.52 8% 7,615.08 6,996.46 9% Other Interest 579.83 424.28 262.89 178.41 316.94 245.87 Surplus from Deployment in Cash Management Schemes of Mutual Funds 198.46 280.13 100.89 167.15 97.57 112.98 Other Operating Income 3.08 3.96 1.49 1.92 1.59 2.04 Interest and Other Operating Income 16,177.52 14,902.35 9% 8,146.34 7,545.00 8% 8,031.18 7,357.35 9% Add: Fees & Other Charges 367.96 385.38 159.87 196.61 208.09 188.77 Less: Commissions 328.06 271.34 157.68 134.43 170.38 136.91 39.90 114.04 2.19 62.18 37.71 51.86 INTEREST AND OTHER CHARGES INTEREST Loans 1,217.32 1,388.97-12% 598.36 579.39 3% 618.96 809.58-24% Deposits 3,643.51 3,633.96 0% 1,819.80 1,897.28-4% 1,823.71 1,736.68 5% Bonds and Debentures 6,038.51 5,272.75 15% 3,076.55 2,729.75 13% 2,961.96 2,543.00 16% 10,899.34 10,295.68 6% 5,494.71 5,206.42 6% 5,404.63 5,089.26 6% OTHER CHARGES 79.09 76.34 39.34 39.44 39.75 36.90 10,978.43 10,372.02 6% 5,534.05 5,245.86 5% 5,444.38 5,126.16 6%
STANDALONE RECONCILIATIONS AS AT SEPTEMBER 30, 2017 Borrowings Term Loans 39,041 29,715 Bonds and Debentures 171,060 141,607 Deposits 90,195 84,336 300,296 255,658 Loans Individuals 223,149 193,533 Corporate Bodies 95,899 77,136 Others 5,029 4,737 Loan Book 324,077 275,406 Less: Provisions for non-performing loans 1,110 619 322,967 274,787 Incremental Growth in the Loan Book Loan Book on an AUM Basis Increase in FY18 H1 As % of Total Individuals 20,852 Increase 70% Non-Individuals 8,887 30% Total 29,739 100% Investments Equity Shares - Subsidiaries and Associate Companies 8,362.69 8,287.04 Equity Shares - Other Companies 759.16 617.35 Preference Shares 115.24 73.49 Bonds & Debentures 206.33 438.51 Pass Through Certificates & Security Receipts^ 775.06 79.25 Government Securities 7,505.24 5,352.29 Mutual Funds, Venture Funds & Other funds 7,417.90 4,869.53 Properties ( Net of Depreciation ) 354.10 374.11 25,495.72 20,091.57 Less: Provision for Diminution in Value of Investments 390.36 100.63 25,105.36 19,990.94 Unrealised gains on listed investments including investments held by HDFC Investments Ltd. 103,067.60 70,640.95 * Includes Security Receipts of Rs 705 crore -- loans given to a developer which were assigned to an Asset Reconstruction Company. Prior to the assignment of the loans, the Corporation had as a matter of prudence, made provisions amounting to Rs 240 crore in respect of these accounts. Thus no further provisioning was required by the Corporation as a result of the sale of loans to the ARC. After considering the provision of Rs 240 crore, the net carrying value of the security receipts is Rs 465 crore.
CONSOLIDATED STATEMENT OF PROFIT & LOSS FOR THE HALF YEAR ENDED SEPTEMBER 30, 2017 FY18 H1 FY17H1 H1 Growth FY18Q2 FY17Q2 Q2 Growth FY18Q1 FY17Q1 Q1Growth Income Revenue from Operations 18,409.49 16,883.13 9% 9,264.92 8,571.89 9,144.57 8,311.24 Premium Income from Insurance Business 10,504.99 8,612.68 22% 6,149.75 4,976.96 4,355.24 3,635.72 Other Operating Income from Insurance Business 1,988.89 1,602.28 1,066.66 899.77 922.23 702.51 Other Income 11.66 36.46 5.98 21.97 5.68 14.49 30,915.03 27,134.55 14% 16,487.31 14,470.59 14% 14,427.72 12,663.96 14% Expenses Finance Cost 11,578.94 10,904.37 6% 5,834.02 5,519.02 5,744.92 5,385.35 Staff/Establishment/Other Expenses 1,141.41 1,047.30 569.40 538.88 572.01 508.42 Claims paid pertaining to Insurance Business 6,699.93 5,974.26 3,551.50 3,244.33 3,148.43 2,729.93 Commission, Operating & Other Expenses - Insurance 5,051.53 3,637.61 3,316.72 2,304.54 1,734.81 1,333.07 Business Depreciation/ Provision and Contingencies 278.94 508.05 142.82 130.85 136.12 377.20 24,750.75 22,071.59 12% 13,414.46 11,737.62 14% 11,336.29 10,333.97 10% Profit Before Tax and Sale of Investments 6,164.28 5,062.96 22% 3,072.85 2,732.97 12% 3,091.43 2,329.99 33% Profit on Sale of Investments 131.08 923.62 95.79 56.10 35.29 867.52 Profit Before Tax 6,295.36 5,986.58 5% 3,168.64 2,789.07 14% 3,126.72 3,197.51-2% Tax Expense 1,959.75 1,851.12 965.52 904.78 994.23 946.34 Net Profit 4,335.61 4,135.46 5% 2,203.12 1,884.29 17% 2,132.49 2,251.17-5% Share of profit of minority shareholder (509.74) (387.17) (265.03) (210.39) (244.71) (176.78) Net share of profit of Associates (Equity Method) 1,777.41 1,494.84 931.32 772.31 846.09 722.53 Profit after Tax attributable to the Group 5,603.28 5,243.13 7% 2,869.41 2,446.21 17% 2,733.87 2,796.92-2% Earnings Per Share (Rs) - Basic# 35.21 33.10 Earnings Per Share (Rs) - Diluted# 34.81 32.84 # Pertains to the half year
CONSOLIDATED BALANCE SHEET AS AT SEPTEMBER 30, 2017 As at EQUITY AND LIABILITIES SHAREHOLDERS' FUNDS Share Capital 319.02 316.79 Reserves and Surplus 62,874.56 55,016.00 Money received against Warrants 51.10 51.10 63,244.68 55,383.89 MINORITY INTEREST 4,053.90 3,276.12 NON-CURRENT LIABILITIES Policy Liabilities (Policyholders' Fund) 80,087.38 66,764.76 Long Term Borrowings 176,435.81 146,611.22 Deferred tax liabilities (net) 2,657.24 1,578.08 Other Long Term Liabilities 2,095.09 2,271.77 Long Term Provisions 2,820.88 3,058.03 264,096.40 220,283.86 CURRENT LIABILITIES Short Term Borrowings 46,222.00 42,194.12 Trade Payables 5,487.99 4,025.06 Other Current Liabilities - Policy Liabilities (Policyholders' Fund) 15,266.03 13,276.69 - Borrowings 92,567.49 79,042.93 - Others 11,606.89 11,752.28 Short Term Provisions 3,017.32 2,582.42 174,167.72 152,873.50 505,562.70 431,817.37 ASSETS NON-CURRENT ASSETS Fixed Assets including Capital work in Progress 1,391.25 1,320.73 GOODWILL ON CONSOLIDATION 214.26 612.19 Non-current investments 128,781.85 106,137.64 Deferred tax asset (net) 17.36 14.30 Long-term loans and advances - Loans 309,629.02 258,378.15 -Others 4,057.13 3,605.68 Other non-current assets 2,094.73 2,520.92 446,185.60 372,589.61 CURRENT ASSETS Current Investments 18,753.16 14,593.60 Trade Receivable 1,504.23 1,262.52 Cash and bank balances 1,816.06 1,979.74 Short term Loans and Advances - Loans 31,181.89 31,367.49 - Others 3,251.74 6,654.87 Other Current Assets 2,870.02 3,369.54 59,377.10 59,227.76 505,562.70 431,817.37