Capital Trust Ltd. — Annual Report 2021

Jul 5, 2021

(CIN-L65923DL1985PLC195299)

June 29, 2021

The National Stock Exchange of India Limited Exchange Plaza, C-I, Block G Bandra-Kurla Complex Bandra (E), Mumbai - 400051 (Symbol- CAPTRUST)

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai -400001 (Scrip Code-511505) Dear Sir/Madam,

Sub: Outcome of Board Meeting under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 read with Part A ofPart A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is informed that the Board of Directors of the Company at its meeting held today i.e. June 29, 2021 has inter-alia considered and approved and took note of the following businesses:

1. Audited financial statements of the company (consolidated and standalone) for the year ended on March 31, 2021 along with audit report from the Statutory Auditors of the company;

2. Appointment of Mr. Vahin Khosla as an Additional Executive Director. Brief profile of Mr. Vahin Khosla hasbeen provided below;

3. Resignation of Mr. Nikhel Kochhar, Independent Director;

4. Resignation of Mrs. Anju Khosla, Executive Director.

(CIN-L65923DL1985PLC195299)

1. Finalisation of date of Thirty Fifth Annual General Meeting.

2. Raising of Funds through various options including Qualified Institutional Placement/ Non Convertible Debentures upto Rs. 1000 Crores.

Further, the meeting commenced at 04.00 p.m. and concluded at 09.15 p.m.

We are hereby enclosing the financial results along with audit report for your information and record.

Thanking you,

Yours faithfully,

For Capital Trust Limited

Tanya Sethi Company Secretary Contact no: 9953437505 Email Id : cs@capitaltrust.in

(CIN-L65923DL1985PLC195299)

Brief profile of Mr. Vahin Khosla

Having done his schooling from The Doon School, Vahin Khosla graduated as a Roberts Day Scholar from Claremont Mckenna College, USA. He was selected into an accelerated program where he received his Bachelor's degree in Economics- Accounting and his Master's degree in Finance simultaneously. Prior to working with Capital Trust, he worked at Davita Healthcare Partners in their Corporate Finance team. He is an avid football player having represented club's at international levels.

Unit No. 1704, 17th Floor, Tower B, World Trade Tower, DND FLyway, C-01, Sector 16, Noida-201301, Delhi-NCR (India) | Ph:(0120) 2970005 Mob. 9205575996 E-mail: newdelhi@singhico.com | Website: www.singhico.com

Independent Auditor's Report on the Consolidated Quarterly and Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Capital Trust Limited

Report on the Audit of the Consolidated Financial Results

Opinion

We have audited the accompanying consolidated statement of quarterly and annual financial results of Capital Trust Limited ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group'), for the quarter and year ended March 31 2021 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement read with notes therein:

• i. includes the results of the following subsidiaries:
  • a. Capital Trust Microfinance Ltd.
  • b. Capital Trust Housing Finance Ltd.
• ii. is presented in accordance with the requirements of the Listing Regulations in this regard: and
• iii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net loss and other comprehensive income for the quarter ended March 31, 2021, net loss and other comprehensive income for the year ended March 31, 2021 and other financial information of the Company for the quarter and year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Consolidated Financial Results' section of our report. We are independent of the Company in accordance with the 'Code of Ethics' issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Consolidated financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Page 1 of 3

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of the statement that gives a true and fair view of the net profit and other comprehensive income and other financial information or the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies: making judgements and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.

In preparing the Statement, respective board of directors are responsible for assessing the group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the group or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a quarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting as fraud may involve collusion, forgery, error, from intentional omissions. misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.

Page 2 of 3

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of board of director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Statement that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Statement may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Statement.

We communicate with those charged with governance of the holding company regarding. among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

Date: June 29, 2021 Place: Noida (Delhi - NCR)

For Singhi & Co. Chartered Accountants Firm Reg. No. 302049E

$6$ kan1 rande

Chanderkant Choraria Partner Membership No. 521263 UDIN: 21521263AAAAAU8782

Capital Trust Limited CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTSFOR THE QUARTER AND YEAR ENDED 31 MARCH 2021

				(Rs.inLakhsexceptEPS)
		3MONTHSENDED		YEARENDED
	31Mar2021	31Dec2020	31Mar2020	31Mar2021	31Mar2020
	Audited(ReferNote5)	Unaudited	Audited	Audited	Audited
Revenuefromoperations
InterestIncome	2,412.08	2,161.52	2,175.01	9,166.09	11,421.36
DividendIncome	-	-	-	-	-
Netgainonfairvaluechanges	(2.11)	105.11	71.97	308.47	187.89
FeesandcommissionIncome	416.03	11.88	308.82	427.97	1,590.58
Netgainonderecognitionoffinancialinstrumentsunderamortisedcostcategory	48.74	22.28	79.12	71.02	378.36
ReversalofImpairmentonfinancialinstruments	23.10	-	-	23.10	-
Otherrevenues	185.79	668.51	290.66	1,382.98	1,591.39
Otherincome	(269.30)	149.12	-223.73	79.19	-339.52
TotalIncome	2,814.33	3,118.42	3,149.31	11,458.82	15,509.10
Expenses
Financecosts	771.12	819.86	1,246.77	3,311.91	5,880.75
Feesandcommissionexpense	161.67	84.64	225.17	405.39	787.85
Impairmentonfinancialinstruments	2,346.21	421.98	465.66	3,526.97	1,645.09
Employeebenefitsexpense	992.90	1,134.39	988.27	3,934.38	3,883.74
Depreciation,amortizationandimpairment	13.84	13.34	17.40	57.64	89.46
Otherexpenses	1,860.67	642.88	722.28	3,160.28	1,859.14
Totalexpenses	6,146.41	3,117.09	3,665.55	14,396.57	14,146.03
Profit/(Loss)beforeexceptionalitemsandtax	(3,332.08)	1.33	(516.24)	(2,937.75)	1,363.07
Exceptionalitems	-	-	-	-	-
Profit/(Loss)beforetax	(3,332.08)	1.33	(516.24)	(2,937.75)	1,363.07
Taxexpense
Currenttax	(38.49)	37.15	57.62	80.02	433.02
Deferredtax	(672.60)	5.69	56.81	(655.32)	502.66
Profit/(loss)fortheperiod(A)	(2,620.99)	(41.51)	(630.67)	(2,362.45)	427.39
Othercomprehensiveincome(OCI)
Itemsthatwillnotbereclassifiedtoprofit&loss
Remeasurementofdefinedbenefitliabilities/assets(netoftax)	(12.75)	-	9.73	(12.75)	6.98
Totalothercomprehensiveincomeforperiod(B)	(12.75)		-9.73	(12.75)	6.98
Totalcomprehensiveincome(A+B)	(2,633.74)	(41.51)	(620.94)	(2,375.20)	434.37
NetProfitattributableto:
OwnersoftheCompany	(2,620.99)	(41.51)	(630.67)	(2,362.45)	427.39
Non-ControllingInterest	-	-	-	-	-
OtherComprehensiveIncomeattributanleto:
OwnersoftheCompany	(12.75)	-	9.73	(12.75)	6.98
Non-ControllingInterest	-	-	-	-	-
TotalComprehensiveIncomeattributanleto:
OwnersoftheCompany	(2,633.74)	(41.51)	(620.94)	(2,375.20)	434.37
Non-ControllingInterest
Paid-upEquityShareCapital	1,621.75	1,621.75	1,621.75	1,621.75	1,621.75
(FaceValueofRs.10pershare)
OtherEquity			-	11,448.96	13,824.15
Earningsperequityshare(ofRs.10each)
-Basic&Diluted(notannualized)(Rs.)	(16.16)	(0.26)	1.18	(14.57)	2.64

Capital Trust Limited CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 CONSOLIDATED STATEMENT OF ASSET AND LIABILITIES AS AT 31ST MARCH,2021

		(Rs.inLakhs)
Particulars	AsatMarch31,2021	AsatMarch31,2020
ASSETS
FinancialAssets
CashandCashEquivelants	3,854.84	3,435.98
BankBalancesOtherThanAbove	4,094.01	2,915.64
Receivables
-OtherReceivables	168.02	57.24
Loans	24,256.21	30,452.82
Investments	4,095.16	3,790.99
OtherFinancialAssets	533.85	1,365.27
TotalFinancialAssets	37,002.09	42,017.94
NonFinancialAssets
CurrentTaxAssets(Net)	291.65	232.79
DeferredTaxAsset(Net)	3,033.30	2,377.98
Property,PlantandEquipment	190.04	218.22
RighttouseAsset	23.43	180.21
OtherIntangibleAssets	1.27	10.88
IntangibleAssetunderDevelopment	13.83	-
OtherNonFinancialAssets	155.54	192.16
TotalNonFinancialAssets	3,709.06	3,212.24
TotalAssets	40,711.15	45,230.18
LIABILITIES
FinancialLiabilities
TradePayables
DuetoMicroEnterprises&SmallEnterprises	-	-
DuetoOtherthanMicro&SmallEnterprises	55.24	77.89
DebtSecurities	5,551.56	-
Borrowings(OtherthanDebtSecurities)	15,661.53	22,639.63
Deposits	-	30.00
SubordinatedLiabilities	4,479.23	4,469.16
LeaseLiabilities	23.78	212.78
OtherFinancialLiabilities	983.37	2,022.17
	26,754.71	29,451.63
Non-FinancialLiabilities
CurrentTaxLiabilities	1.23	-
Provisions	137.50	117.47
OtherNon-FinancialLiabilities	747.00	215.16
	885.73	332.63
EQUITY
ShareCapital	1,621.75	1,621.75
OtherEquity	11,448.96	13,824.17
	13,070.71	15,445.92
TotalLiabilitiesAndEquity	40,711.15	45,230.18

Capital Trust Limited CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 CONSOLIDATED CASH FLOW FOR THE YEAR ENDED FOR THE YEAR ENDED, 2021

	(Rs.inLakhs)
Particulars	FortheyearendedMarch31,2021	FortheyearendedMarch31,2020
Cashflowsfromoperatingactivities
Profit/(loss)beforetax	(2,937.74)	1,363.07
Adjustments:
Depreciation,amortizationandimpairment	57.64	89.46
Impairmentonfinancialinstruments	3,526.97	1,645.09
Loanwrittenoff	1,538.19	-
Netgain/(loss)onderecognitionofproperty,plantandequipment	2.79	(2.44)
Netgain/(loss)onderecognitionofRighttoUseAsset	(34.22)	-
Gainonsaleofinvestments	(36.40)	(96.91)
Unrealised(gain)/lossonfairvaluechangesofinvestments	(272.07)	(90.98)
Effectiveinterestrateadjustmentforfinancialinstruments	231.71	(1,176.61)
Operatingprofitbeforeworkingcapitalchanges	2,076.87	1,730.68
(Increase)/decreaseofreceivables	(110.78)	(18.38)
(Increase)/decreaseofloans	833.34	21,912.84
(Increase)/decreaseofotherfinancialassets	831.42	405.67
(Increase)/decreaseofothernonfinancialassets	36.62	(20.54)
(Increase)/decreaseofdeposits	(30.00)	-
Movementinfixeddeposits	(1,178.46)	1,117.64
Increase/(decrease)oftradepayables	(22.66)	31.57
Increase/(decrease)ofotherfinancialliabilities	(1,038.80)	151.32
Increase/(decrease)ofprovisions	20.04	41.39
Increase/(decrease)ofothernon-financialliabilities	531.83	49.67
Increase/(Decrease)ofLeaseLiabilities	(18.65)	(30.41)
Cashusedinoperatingactivities	1,930.77	25,371.45
Incometaxespaid	(137.57)	(205.70)
Netcashusedinoperatingactivities	1,793.20	25,165.75
Cashflowsfrominvestingactivities
Purchaseofproperty,plant&equipment	(28.83)	(78.00)
Saleofproperty,plant&equipment	0.27	5.25
Movementininvestments	4.31	(3,584.57)
Dividendreceivedfromsubsidiarycompany	-	-
Netcashusedininvestingactivities	(24.25)	(3,657.32)
Cashflowsfromfinancingactivities
Dividendincludingdividenddistributiontaxpaid	-	(98.62)
Proceedfromissueofnonconvertibledebentures	3,000.00	-
proceedfromLoanAgainstPTC	2,652.39	-
Repaymentofnonconvertibledebentures	-	(7,500.00)
Netrepaymentofborrowings	(7,002.47)	(13,674.46)
Netcashfromfinancingactivities	(1,350.08)	(21,273.08)
Netincrease/(decrease)incashandcashequivalents	418.86	235.35
Cashandcashequivalentsatthebeginningoftheyear	3,435.98	3,200.63
Cashandcashequivalentsattheendoftheperiod	3,854.84	3,435.98

Capital Trust Limited CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030

Notes:

1. The business activity of the Company falls within a single segment viz 'financing activities and hence there is no other reportable segment as per Ind AS 108.

2. The Noval Corona virus (COVID-19) pandemic (declared as such by the World Health Organisation on March 11, 2020) has contributed to significant decline and volatility in global and Indian market and significant decrease in economic activity. On March 24, 2020, the Indian government announced lockdown till April 14, 2020, which was further extended till May 31, 2020 through the subsequent announcements, to contain the spread of virus. This has led to significant disruptions and disclosures for individuals and business, impacting Company's regular operations including lending and collection activities. The Company's client base and AUM is from the semi-urban/rural segment, where the impact of COVID-19 has been relativelylower. A large segment of our customers are linked to the localeconomy & operation in essential services and the governmenthas announced a series of economic relief measures for MSME sector, which is expected to support borrower's repayment capacity. From June 1, 2020 onwards, further relaxation in lock down hasbeen granted across the Country, which has helped the Company employees to contract the borrowers.

Further, pursuant to Reserve Bank of India circular dated March 31, 2020 and May 23, 2020 allowing lending institution to offer moratorium to borrowers on payment of instalment falling due between March 1, 2020 and August 31, 2020, the Company gave the option of availing moratorium to all its borrowers from March 1, 2020 for six months. In management'sview, providing moratorium to borrower at a large scale based on RBI directives, by itself is considered to result in asignificant increase in credit risk for such borrowers. Accordingly, considering the unique impact and widespread impact of COVID-19 pandemic, the company has estimated additional expected credit loss allowance amounting to Rs. 2657.70 lakhs (previous year ended Rs. 266.27 lakhs) over and above normal provision, based on information availableto reflect, among other things, the deterioration in the macro-economic factors. The Company estimates to recover the carrying amount of all its assets including investments, receivables and loans in the ordinary course of business based on information availableon current economic conditions. The Company has adequate liquidity to discharge its obligations. Given the dynamic nature of pandemic situation, these estimates are based on early indicators, subject to uncertainty and may be affected by the severity and duration of pandemic, including government and regulatory measures on the business and financialmetrics of the Company.

1. Scheme of Amalgamation between Capital Trust Limited and its wholly owned subsidiary 'Capital Trust Housing Finance Private Limited' w.e.f. April 1, 2020 (appointed date) has been filed with the Stock Exchanges. Pending approval and sanction of the scheme under fasttrack merger process under the Companies Act, 2013, no impact has been considered in these financial results.

2. (a) During the year as per the RBI Guidelines, the company has restructured the folowing business loans

No.ofborrowers	No.ofaccountswhereresolutionplanhasbeenamendedunderthiswindow	Exposuretoaccountsmentionedbeforeimplementaionoftheplan
Unsecuredbusinessloans	6830	3269.22

(b)The Company has created additional provision amounting to Rs. 77.80 lacs on the restructured cases stated above as per the RBI guidelines on restructured cases

1. The figures for the quarter ended March 31, 2021 & March 31, 2020 are the balancing figures of the audited figures in the full financialyear and the published year to date figures for the nine months.

2. At the year end company has regrouped the following amounts in financial results for better presentation of results and correpsonding regrouping has been made in priorperiods figures:

Particulars	3Months	Ended	YearEnded
	31Dec2020	31Mar2020	31Mar2020
a.Disclosedunderrevenuefromoperationinearlierperiodsnowgroupedunderotherincome
Dividendincomefromsubsidiarycompany	228.67	-	-
b.Disclosedunderotherincomeinearlierperiodsnowgroupedunderrevenuefromoperations-
FeesandcommissionIncome
Servicefeesfrombusinesscorrespondent	124.98	156.38	220.44

1. In accordance with the instructions in the RBI circular dated 7 April 202, all lending institutions shall refund/adjust 'interest on interest' to all borrowers including those who had availed working capitalfacilities during the moratorium period, irrespective of whether moratorium had been fully or partially availed,or notavailed. Pursuant to these instructions, the Indian Banks Association (IBA) in consultation with other industry participants/bodies published the methodology for calculation of the amount of such 'interest on interest'. Accordingly, the Company has estimated the said amount and made provision for refund/adjustment.

2. The above results were reviewed by the Audit Committee and approved by the Board of Directorsof the Company at theirmeeting held on 29 June2021. The Statutory Auditors have carried out a limited review of the above financial results.

For and on Behalf of Capital Trust Limited

Place: New Delhi (Yogen Khosla) Date : June 29, 2021 Chairman cum Managing Director

Annexure- A

DisclosurepursuanttoRegulation52(4)oftheSecuritiesandExchangeBoardofIndia(LODR)Regulations,2015fortheyear
ended31March2021

1	CreditRating
	Instrument	RatingAgency	Rating
	NonConvertibleDebenture	CareRating	CareBBB-
2	Debt-EquityRatio	1.98
3	Previousduedateforpaymentof	interest/principal
	ISIN	BSESCRIPCODE	From01January2021	to31March2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.01.2021	NA
4	Nextduedateforpaymentof	interest/principalalongwith	interest
	ISIN	BSESCRIPCODE	From01April2021	to30June2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.04.2021	NA
5	DebentureRedemptionReserve		NoDRRisrequiredin	respectofprivately
			placeddebenturesin	termsRule18(7)(ii)of
			Companies(Share	CapitalandDebenture),
			Rules,	2014
6	NetworthasonMar31,2021		13,070.71	Lakhs
7	NetProfitafterTax		(2,362.44)	Lakhs
8	Earningpershare		(16.16)

Chartered Accountants

Unit No. 1704, 17th Floor, Tower B, World Trade Tower, DND FLyway, C-01, Sector 16, Noida-201301, Delhi-NCR (India) | Ph:(0120) 2970005 Mob. 9205575996 E-mail: newdelhi@singhico.com | Website: www.singhico.com

Independent Auditor's Report on the Quarterly and Annual Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Capital Trust Limited

Report on the Audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and annual standalone financial results of Capital Trust Limited ("the Company"), for the quarter and year ended March 31 2021 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement read with notes therein:

• is presented in accordance with the requirements of the Listing Regulations in this regard: j. and
• gives a true and fair view in conformity with the applicable accounting standards and other ii. accounting principles generally accepted in India, of the net loss and other comprehensive income for the quarter ended March 31, 2021, net loss and other comprehensive income for the year ended March 31, 2021 and other financial information of the Company for the quarter and year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs), as specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the 'Auditor's Responsibilities for the Audit of the Standalone Financial Results' section of our report. We are independent of the Company in accordance with the 'Code of Ethics' issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Page 1 of 3

CHENNAI

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the annual standalone financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit/loss and other comprehensive income and other financial information of the Company in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities: selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Page 2 of 3

• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Statement that, individually or in aggregate. makes it probable that the economic decisions of a reasonably knowledgeable user of the Statement may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Statement.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safequards.

Other Matter

The Statement includes the results for the quarter ended March 31, 2021 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2021 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For Singhi & Co. Chartered Accountants Firm Reg. No. 302049E

Chanderkant Choraria Partner Membership No. 521263 UDIN: 21521263AAAAAT6147

Page 3 of 3

Date: June 29, 2021 Place: Noida (Delhi - NCR)

CAPITAL TRUST LIMITED CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2021

		3monthsended		(Rs.inYear	LakhsexceptEPS)ended
	31Mar2021	31Dec2020	31Mar2020	31Mar2021	31Mar2020
	Audited(ReferNote5)	Unaudited	Audited	Audited	Audited
Revenuefromoperations
InterestIncome	2,394.38	2,087.38	2,049.43	8,826.97	12,130.89
Netgainonfairvaluechanges	(2.11)	105.11	69.19	308.47	149.12
FeesandcommissionIncome	135.45	136.86	457.61	413.39	430.94
Netgainonderecognitionoffinancialinstrumentsunder
amortisedcostcategory	48.74	22.28	78.83	71.02	378.07
ReversalofImpairmentonfinancialinstruments	-	-	-	-	-
Otherrevenues	170.06	631.87	285.55	1,283.95	1,399.20
Otherincome	86.29	252.81	24.09	382.86	269.77
TotalIncome	2,832.81	3,236.31	2,964.70	11,286.66	14,757.99
Expenses
Financecosts	885.26	969.19	1,301.49	3,821.41	6,071.08
Feesandcommissionexpense	158.32	82.04	222.05	393.49	778.03
Impairmentonfinancialinstruments	2,407.88	408.95	357.18	3,526.97	1,525.28
Employeebenefitsexpense	953.38	1,088.84	930.25	3,760.19	3,656.60
Depreciation,amortizationandimpairment	13.84	13.34	17.40	57.64	89.46
Otherexpenses	1,471.93	634.00	718.59	2,756.85	1,787.17
Totalexpenses	5,890.61	3,196.37	3,546.96	14,316.55	13,907.62
Profit/(Loss)beforeexceptionalitemsandtax	(3,057.80)	39.94	(582.25)	(3,029.89)	850.37
Exceptionalitems	-	-	-	-	-
Profit/(Loss)beforetax	(3,057.80)	39.94	(582.25)	(3,029.89)	850.37
Taxexpense
Currenttax	-	-	(250.32)	-	336.69
Deferredtaxcharge/(credit)	(648.82)	9.29	297.67	(652.64)	460.39
Profit/(loss)fortheperiod(A)	(2,408.98)	30.65	(629.60)	(2,377.25)	53.29
Othercomprehensiveincome(OCI)
Itemsthatwillnotbereclassifiedtoprofit&loss
Remeasurementofdefinedbenefitliabilities/assets(netof
tax)	(12.75)	-	6.98	(12.75)	6.98
Totalothercomprehensiveincomeforperiod(B)	(12.75)	-	6.98	(12.75)	6.98
Totalcomprehensiveincome(A+B)	(2,421.73)	30.65	(622.62)	(2,390.00)	60.27
Paid-upEquityShareCapital	1,621.75	1,621.75	1,621.75	1,621.75	1,621.75
(FaceValueofRs.10pershare)
Earningsperequityshare(ofRs.10each)
-Basic&Diluted(notannualized)(Rs.)	(14.85)	0.19	(3.88)	(14.66)	0.33

Capital Trust Limited CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 STANDALONE STATEMENT OF ASSETSAND LIABILITIES AS AT 31ST MARCH 2021

ASSETSFinancialAssets	March31,2021	March31,2020
CashandCashEquivalents	1,528.57	790.05
BankBalancesotherthanCashandCashEquivalents	4,094.01	2,915.64
Receivables	-	-
-OtherReceivables	168.02	57.24
Loans	23,689.21	28,953.38
Investments	9,068.58	8,764.42
OtherFinancialAssets	631.94	1,215.50
TotalFinancialAssets	39,180.33	42,696.23
NonFinancialAssets
CurrentTaxAssets(Net)	238.62	216.15
DeferredTaxAssets(Net)	2,981.05	2,328.40
Property,PlantandEquipment	190.04	218.22
RighttouseAsset	23.43	180.21
OtherIntangibleAssets	1.27	10.88
IntangibleAssetunderDevelopment	13.83	-
OtherNonFinancialAssets	84.48	104.63
TotalNon-FinancialAssets	3,532.72	3,058.49
TotalAssets	42,713.05	45,754.72
LIABILITIESANDEQUITY
LIABILITIES
FinancialLiabilities
TradePayables
TotaloutstandingduesofMicroEnterprises&SmallEnterprises	-	-
TotaloutstandingduesofCreditorsotherthanMicroEnterprises&Small	53.41	74.95
EnterprisesDebtSecurities	5,551.56	-
Borrowings(otherthandebtsecurities)	17,814.53	23,739.63
Deposits	-	30.00
SubordinatedLiabilities	4,479.23	4,469.16
LeaseLiabilities	23.78	212.78
OtherFinancialLiabilities	927.40	1,491.07
TotalFinancialLiabilities	28,849.91	30,017.59
Non-FinancialLiabilities
CurrentTaxLiabilities(Net)	-	-
Provisions	132.78	117.47
OtherNon-FinancialLiabilities	712.12	211.43
TotalNon-FinancialLiabilities	844.90	328.90
EQUITY
EquityShareCapital	1,621.75	1,621.75
OtherEquity	11,396.49	13,786.48
		15,408.23
TotalEquity	13,018.24

Capital Trust Limited CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 STANDALONE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2021

Particulars		FortheyearendedMarch31,2021	FortheyearendedMarch31,2020
Cashflowsfromoperatingactivities
Profit/(loss)beforetax		(3,029.88)	850.37
Adjustmentsfor:
Depreciation,amortizationandimpairment		57.64	89.46
Impairmentonfinancialinstruments		3,526.97	1,525.28
Loanwrittenoff		1,151.22	-
Netgain/(loss)onderecognitionofproperty,plantandequipment		2.79	(2.44)
DividendIncome		(228.67)	-
Net(gain)/lossonderecognitionofRighttoUseAsset		(34.22)	-
Gainonsaleofinvestments		(36.40)	(58.13)
Unrealised(gain)/lossonfairvaluechangesofinvestments		(272.07)	(90.98)
Effectiveinterestrateadjustmentforfinancialinstruments		218.75	(1,175.99)
Operatingprofitbeforeworkingcapitalchanges		1,356.13	1,137.57
(Increase)/decreaseofreceivables		(110.78)	(18.38)
(Increase)/decreaseofloans		300.84	21,451.57
(Increase)/decreaseofotherfinancialassets		583.57	384.61
(Increase)/decreaseofothernonfinancialassets		20.14	(25.42)
(Increase)/decreaseofdepositstaken		(30.00)	-
Movementinfixeddeposits		(1,178.46)	1,117.64
Increase/(decrease)oftradepayables		(21.54)	40.62
Increase/(decrease)ofotherfinancialliabilities		(563.67)	(138.57)
Increase/(decrease)ofprovisions		15.31	41.39
Increase/(decrease)ofothernon-financialliabilities		500.78	60.02
Increase/(decrease)ofleaseliabilities		(18.65)	(30.42)
Cashgenerated/(used)inoperatingactivities		853.67	24,020.63
Incometaxes(paid)/refund		(22.47)	(75.84)
Netcashinflow/(outflow)fromoperatingactivities	A	831.20	23,944.79
Cashflowsfrominvestingactivities
Purchaseofproperty,plant&equipment		(28.83)	(78.00)
Proceedfromsaleofproperty,plant&equipment		0.27	5.25
Movementininvestments		4.31	(3,623.34)
Dividendreceivedfromsubsidiarycompany		228.67	-
Netcashinflow/(outflow)frominvestingactivities	B	204.42	(3,696.09)
Cashflowsfromfinancingactivities
Dividendincludingdividenddistributiontaxpaid		-	(98.62)
Proceedfromissueofnonconvertibledebentures		3,000.00	-
ProceedfromloanagainstPTC		2,652.39	-
Repaymentofnonconvertibledebentures		-	(7,500.00)
Paymentofleaseliabilities		-	-
Netrepaymentofborrowings		(5,949.49)	(12,559.46)
Netcashinflow/(outflow)fromfinancingactivities	C	(297.10)	(20,158.08)
Netincrease/(decrease)incashandcashequivalents(A+B+C)		738.52	90.62
Cashandcashequivalentsatthebeginningoftheyear		790.05	699.43
Cashandcashequivalentsattheendoftheyear		1,528.57	790.05

Capital Trust Limited CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030

Notes:

1. The business activity of the Company falls within a single segment viz 'financing activities and hencethere is no other reportable segment as per Ind AS 108.

2. The Noval Corona virus (COVID-19) pandemic (declared as such by the World Health Organisation on March 11, 2020) has contributed to significant decline and volatility in global and Indian market and significant decrease in economic activity. On March 24, 2020, the Indian government announced lockdown till April 14, 2020, which was further extended till May 31, 2020 through the subsequent announcements, to contain the spread of virus.This has led to significant disruptions and disclosures for individuals and business, impacting Company's regular operations including lending and collection activities. The Company's client base and AUM is from the semi-urban/rural segment, where the impact of COVID-19 has been relatively lower. A large segment of our customers are linked to the local economy & operation in essential services and the government has announced a series of economic relief measures for MSME sector, which is expected to support borrower's repayment capacity. From June 1, 2020 onwards, further relaxation in lock down has been granted across the Country, which has helped the Company employees to contract the borrowers.

Further, pursuant to Reserve Bank of India circular dated March 31, 2020 and May 23, 2020 allowing lending institution to offer moratorium to borrowers on payment of instalment falling due between March 1, 2020 and August 31, 2020, the Company gave the option of availing moratorium to all its borrowers from March 1, 2020 for six months. In management's view, providing moratorium to borrower at a large scale based on RBI directives, by itself is considered to result in a significant increase in credit risk for such borrowers. Accordingly, considering the unique impact and widespread impact of COVID-19 pandemic, the company has estimated additional expected credit lossallowance amounting to Rs. 2657.70 lakhs (previous year ended Rs. 266.27 lakhs) over and above normal provision, based on information available to reflect, among other things, the deterioration in the macro-economic factors. The Company estimates to recover the carrying amount of all its assets including investments, receivables and loans in the ordinary course of business based on information available on current economic conditions. The Company hasadequate liquidity to discharge its obligations. Given the dynamic nature of pandemic situation, these estimates are based on early indicators, subject to uncertainty and may be affected by theseverity and duration of pandemic,including governmentand regulatory measures on the business and financial metrics of the Company.

1. Scheme of Amalgamation between Capital Trust Limited and its wholly owned subsidiary 'Capital Trust Housing Finance Private Limited' w.e.f. April 1, 2020 (appointed date) has been filed with the Stock Exchanges. Pending approval and sanction of the scheme underfast track merger process under the Companies Act, 2013, no impact has been considered in these financial results.

2. (a) During the year as per the RBIGuidelines, the company has restructured the folowing business loans

No.ofborrowers	No.ofaccountswhereresolutionplan	Exposuretoaccountsmentionedbefore
Unsecuredbusinessloans	hasbeenamended6830underthiswindow	implemen3t2a6io9n.22oftheplan

(b)The Company has created additional provision amounting to Rs. 77.80 lacs on the restructured cases stated aboveas perthe RBI guidelines on restructured cases

1. The figures for the quarter ended March 31, 2021 & March 31, 2020 are the balancing figures ofthe audited figures in the full financial year and the published year to date figures for the nine months.

2. At the year end company has regrouped the following amounts in financial results for better presentation of results and correpsonding regrouping has been made in priorperiods figures:

Particulars	3monthsended		YearEnded
	31Dec2020	31Mar2020	31Mar2020
a.Disclosedunderrevenuefromoperationinearlierperiodsnowgroupedunder
otherincome
Dividendincomefromsubsidiarycompany	228.67		--
b.Disclosedunderotherincomeinearlierperiodsnowgroupedunderrevenue
fromoperations-FeesandcommissionIncome
Servicefeesfrombusinesscorrespondent	124.98	156.38	220.44

1. In accordance with the instructions in the RBI circular dated 7 April 202, all lending institutions shall refund/adjust 'interest on interest' to all borrowers including those who had availed working capital facilities during the moratorium period, irrespective of whether moratorium had been fully orpartially availed, or not availed. Pursuant to these instructions, the Indian Banks Association (IBA) in consultation with other industry participants/bodies published the methodology for calculation of the amount of such 'interest on interest'. Accordingly, the Company has estimated the said amount and made provision for refund/adjustment.

2. The above results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at their meeting held on 29June 2021. The Statutory Auditors have carried out a limited review of the above financial results.

For and on Behalf of Capital Trust Limited

Place: New Delhi (Yogen Khosla) Date : 29 June 2021 Chairman cum Managing Director

Annexure- A

DisclosurepursuanttoRegulation52(4)oftheSecuritiesandExchangeBoardofIndia(LODR)Regulations,2015fortheyear
Ended31Mar2021

1	CreditRating
	Instrument	RatingAgency	Rating
	NonConvertibleDebenture	CareRating	CareBBB-
2	Debt-EquityRatio	2.15
3	Previousduedateforpaymentofinterest/principal
	ISIN	BSESCRIPCODE	From1stJan,2021to31stMarch2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.01.2021	NA
4	Nextduedateforpaymentofinterest/principal	interest
	ISIN	BSESCRIPCODE	From1stApril2021to30thJune2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.04.2021	NA
5	DebentureRedemptionReserve		NoDRRisrequiredinrespectofprivatelyplaceddebenturesintermsRule18(7)(ii)ofCompanies(ShareCapitalandDebenture),
				Rules,2014
6	NetworthasonMar31,2021		13,018.24Lakhs
7	NetProfitafterTax		(2,389.99)Lakhs
8	Earningpershare		(14.66)

Declaration pursuant to Regulation 33(3)(d) of the SEBI (LODR) Regulations, 2015

I,Yogen Khosla, Managing Director of Capital Trust Limited, hereby declare that the Statutory Auditors of the Company, Singhi & Co., Chartered Accountants (Registration No: 302049E) have issued unmodified opinion on Standalone and Consolidated Audited Financial Results ofthe Company for the financial year ended March 31. 2021

For Capital Trust Limited

Yogen Khosla Managing Director DIN: 00203165

Date: 29-06-2021 Place: New Delhi