STANDALONE BALANCE SHEET AS AT JUNE 30, 2013 (As per Revised Schedule VI format) As at 30-Jun-13 30-Jun-12 EQUITY AND LIABILITIES SHAREHOLDERS' FUNDS Share Capital 310.82 297.73 Reserves and Surplus 26,098.74 20,167.83 26,409.56 20,465.56 NON-CURRENT LIABILITIES Long Term Borrowings 90,739.28 78,992.98 Other Long Term Liabilities 1,098.60 695.49 Long Term Provisions 1,851.86 1,493.58 93,689.74 81,182.05 CURRENT LIABILITIES Short Term Borrowings 18,611.57 20,992.89 Trade Payables 1,476.81 310.27 Other Current Liabilities - Borrowings 53,918.25 43,825.68 Other Current Liabilities - Others 5,524.13 4,626.50 Short Term Provisions 2,637.69 2,788.23 82,168.45 72,543.57 202,267.75 174,191.18 ASSETS NON-CURRENT ASSETS Fixed Assets (i) Tangible Assets 235.76 233.08 (ii) Intangible Assets 4.74 1.90 240.50 234.98 NON-CURRENT INVESTMENTS 12,712.57 12,096.35 DEFERRED TAX ASSET (Net) 635.37 642.23 LONG TERM LOANS AND ADVANCES Loans 158,194.20 131,321.12 Others 1,704.64 1,123.81 159,898.84 132,444.93 OTHER NON CURRENT ASSETS 552.82 934.37 CURRENT ASSETS Current Investments 4,486.52 3,086.13 Trade Receivable 73.22 21.17 Cash and Cash equivalents 2,585.41 2,796.92 Short term Loans and Advances - Loans 18,288.37 16,456.60 - Others 2,009.10 4,649.53 Other Current Assets 785.03 827.97 28,227.65 27,838.32 202,267.75 174,191.18 30-Jun-13 30-Jun-12 Loans securitised - on which spread is earned over the life of the loan 17,292 13,872 Loans sold during the last 12 months 6,310 4,978
STANDALONE PROFIT AND LOSS ACCOUNT FOR THE QUARTER ENDED JUNE 30, 2013 Rs in crores Income from Operations 5,556.94 4,914.71 Interest and Other Charges 3,763.33 3,388.21 NET INTEREST INCOME 1,793.61 1,526.50 Add: Profit on Sale of Investments - 20.24 Other Income 8.00 7.36 8.00 27.60 Less: Non Interest Expenses Staff Expenses 74.41 60.87 Establishment Expenses 25.96 17.58 Other Expenses 57.60 50.95 Depreciation 5.54 4.79 Provision for Contingencies 30.00 40.00 193.51 174.19 PROFIT BEFORE TAX 1,608.10 1,379.91 Less : Provision for Tax 435.00 378.00 PROFIT AFTER TAX 1,173.10 1,001.91
STANDALONE HIGHLIGHTS- JUNE 30, 2013 30-Jun-13 Rs in crores 30-Jun-12 Spread on Individual Loans 2.01% Spread on Non individual loans 2.82% Spread on Loans 2.29% 2.27% Net interest margin 3.9% 4.0% Book Value per Share (Rs) 170 137 Adjusted Book Value - adjusted for unrealised gains on investments (Rs) 384 319 Earnings per Share - Basic (Rs)# 7.57 6.77 Earnings per Share - Diluted (Rs)# 7.49 6.68 Capital adequacy ratio 16.3% 14.6% of which Tier I 14.0% 11.8% Tier II 2.3% 2.8% Non performing loans - Individual Loans 0.61% 0.67% Non performing loans - Non Individual Loans 1.08% 1.00% Non performing loans 0.77% 0.79% Non performing loans (six months past due) 0.38% 0.49% Provision for Contingencies 1,290.41 1,226.38 Provision for Non-performing Loans (including additional provision made by the Corporation) 510.19 484.60 Total Provisions 1,800.60 1,710.98 Interest on Zero Coupon Debentures utilised from securities premium account (net of deferred tax) 96.67 148.93 # Pertains to the quarter
STANDALONE SCHEDULES - JUNE 30, 2013 INCOME FROM OPERATIONS Interest on Loans 5,035.07 4,401.90 Other Interest 184.73 244.53 Surplus from Deployment in Cash Management Schemes of Mutual Funds 64.59 45.97 Dividend Income 217.13 159.58 Fees and Other Charges 54.40 61.75 Other Operating Income 1.02 0.98 5,556.94 4,914.71 INTEREST AND OTHER CHARGES INTEREST Loans 311.99 885.24 Deposits 1,302.53 935.74 Bonds and Debentures 2,123.71 1,546.22 3,738.23 3,367.20 OTHER CHARGES 25.10 21.01 3,763.33 3,388.21 INVESTMENTS Equity Shares - Subsidiaries & Associate Companies 8,242.70 8,183.42 Equity Shares - Other Companies 792.43 859.43 Convertible Preference Shares 60.00 70.50 Preference Shares 6.49 5.99 Convertible Debentures 30.00 2.00 Debentures and Bonds 268.31 351.33 Pass Through Certificates and Security Receipts 69.77 78.49 Properties 140.94 157.65 Government Securities 3,013.85 1,894.29 Liquid Funds 3,893.16 2,880.00 Mutual Funds and Other Funds 754.26 776.99 17,271.91 15,260.09 Less: Provision for Diminution in Value of Investments 72.82 77.61 17,199.09 15,182.48 Unrealised gains on listed investments including HDFC Investments Ltd. 33,269.61 27,000.63
Borrowings STANDALONE RECONCILIATIONS Term Loans 12,819 37,484 Bonds and Debentures 96,754 66,384 Deposits 53,696 39,944 163,269 143,812 Loans Individuals 118,429 95,413 Corporate Bodies 56,620 50,998 Others 1,944 1,852 Loan Book 176,993 148,262 Less: Provision for non-performing loans (including additional provision made by the Corporation) 510 485 176,483 147,778 Incremental Growth in the Loan Book Loans Outstanding (includes loans sold) Increase in Q1FY 2014 As % of Total Increase Individuals 8,242 102% Non-Individuals (161) -2% Total 8,081 100%
CONSOLIDATED STATEMENT OF PROFIT & LOSS FOR THE QUARTER ENDED JUNE 30, 2013 Rs in crores INCOME Revenue from Operations 5,839.94 5,123.03 Premium Income from Insurance business 2,290.53 2,007.32 Other Operating Income from Insurance Business 337.84 228.23 Profit on Sale of Investments 6.53 22.21 Other Income 8.01 7.72 8,482.85 7,388.51 Expenses Finance Cost 3,883.70 3,448.58 Employee Benefits Expenses 151.83 128.42 Establishment Expenses 40.78 27.70 Other Expenses 118.44 97.70 Claims paid pertaining to Insurance Business 1,515.96 881.50 Commission and operating expenses pertaining to Insurance Business 451.24 460.00 Other Expenses pertaining to Insurance Business 344.07 869.30 Depreciation 9.01 12.82 Provision for Contingencies 39.88 46.80 6,554.91 5,972.82 Profit Before Tax 1,927.94 1,415.69 Tax Expense 514.35 428.29 Net Profit (before Profit of Associates and adjustment of Minority Interest) 1,413.59 987.40 Share of profit of minority interest (133.29) (43.57) Net share of profit from Associates 426.80 332.03 Profit after Tax attributable to the Corporation & its subsidiaries 1,707.10 1,275.86 Earnings Per Share (Rs) - Basic# 11.0 8.6 Earnings Per Share (Rs) - Diluted# 10.9 8.5 Return on Equity - annualised 22.8% 21.3% # Pertains to the quarter NOTE: During the quarter ended June 30, 2013, the Corporation utilised Rs 96.67 crores (Rs 148.93 crores (net of tax) during the corresponding quarter of the previous year) out of the securities premium account in accordance with Section 78 of the Companies Act, 1956, towards the proportionate premium payable on redemption of Zero coupon secured redeemable nonconvertible debentures. Had the same been debited to the statement of profit and loss, the adjusted consolidated profits (net of tax) of the Corporation and its subsidiaries for the quarter ended June 30, 2013 would be Rs 1,610.43 crores (Rs 1,126.93 crores in the corresponding quarter of the previous year). As per IRDA guidelines, the profit earned in the Revenue account of a life insurance company can be transferred to the Shareholders' Profit and Loss Account only after the accounts are audited and recommended by the appointed actuary. Accordingly profit amounting to Rs 258.30 crores (net of tax) for HDFC Standard Life Insurance Company Ltd for the three months ended June 30, 2013 has been transferred to the Shareholders Account. As the audit was not carried out in the corresponding quarter of the previous year, the profit for the three months ended June 30, 2012 amounting to Rs 92.41 crores (net of tax) (Rs 66.88 crores attributable to HDFC Ltd) was not transferred to the Shareholders Account.
Consolidated Balance Sheet as at June 30, 2013 As at 30-Jun-13 30-Jun-12 EQUITY AND LIABILITIES SHAREHOLDERS' FUNDS Share Capital 310.82 297.73 Reserves and Surplus 33,709.28 25,659.99 34,020.10 25,957.72 MINORITY INTEREST 1,192.37 850.32 NON-CURRENT LIABILITIES Policy Liabilities (Policyholders' Fund) 36,436.77 32,413.52 Long Term Borrowings 93,696.18 81,894.12 Other Long Term Liabilities 1,173.00 947.38 Long Term Provisions 2,145.79 2,202.35 133,451.74 117,457.37 CURRENT LIABILITIES Short Term Borrowings 19,911.61 21,127.44 Trade Payables 3,536.36 1,857.13 Other Current Liabilities - Policy Liabilities (Policyholders' Fund) 3,963.27 236.64 - Borrowings 54,813.10 44,547.08 - Others 5,776.39 4,676.03 Short Term Provisions 3,551.76 4,032.91 91,552.49 76,477.23 260,216.70 220,742.64 ASSETS NON-CURRENT ASSETS Fixed Assets (i) Tangible Assets 662.92 611.38 (ii) Intangible Assets 54.33 43.55 (iii) Capital Work in Progress 46.20 14.62 (iv) Intangible Assets Under Development - - 763.45 669.55 GOODWILL ON CONSOLIDATION 185.08 177.52 NON-CURRENT INVESTMENTS 55,679.36 45,449.74 DEFERRED TAX ASSET (Net) 665.26 669.86 LONG TERM LOANS AND ADVANCES Loans 164,338.98 136,329.18 Others 2,023.77 4,203.23 166,362.75 140,532.41 OTHER NON CURRENT ASSETS 646.86 1,655.22 CURRENT ASSETS Current Investments 10,310.08 7,833.90 Trade Receivable 312.33 156.99 Cash and bank balances 2,840.21 3,386.27 Short term Loans and Advances - Loans 18,706.09 16,770.50 - Others 2,232.00 2,684.12 Other Current Assets 1,513.23 848.97 35,913.94 31,680.75 DEFICIT IN THE REVENUE ACCOUNT (Policyholders' Account) - (92.41) 260,216.70 220,742.64