Capital Trust Ltd. — Interim / Quarterly Report 2022

Nov 17, 2021

Merging New-Age Fintech with Traditional Lending

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Disclaimer

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Certain statements in this document that are not historical facts are forward looking statements. Such forwardlooking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Capital Trust Limited will not be in any way be responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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CONTENTS

COMPANY OVERVIEW

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Capital Trust - Financing with a Tech-Touch Balance

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Company Snapshot

• Being India’s first "Rural Doorstep-Fintech Company ,” we are focused on providing financial inclusion services to underserved India by merging fintech and traditional financing.

• Our digitized rural financing model offers income generating micro loans to MSMEs and caters to over 1,09,000 customers across 94 districts through 315 branches in 10 states in India .

Our Vision

To become the first fully digitalised and most trusted consumer service point in rural India that redefines the rules of MSME financing.

Our Mission

To encourage self-sufficiency and entrepreneurship in the underserved part of India by using ‘low-cost, high-tech’ digital finance processes.

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Capital Trust – Numbers at a Glance

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PORTFOLIO NET WORTH CAPITAL ADEQUACY GROSS NPA NET NPA BRANCHES EMPLOYEES
₹ 311 Cr ₹ 118 Cr 42.6 % 3.8 % 0.0 % 315 2,094
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*Stage 3 ECL Assets

Q2 FY2022 Quarter At a Glance

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Return To Disbursement Back To Pre- New Capital Digital Initiative’s
Profitability 2 [nd] Wave Levels Continued Resilience
18 94% 95% 96% 95% 96%
16
1
12
9 9
Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22
2
0
-14
-26
PAT in ₹ Cr Disbursement in ₹ Cr Collection Efficiency
Mar 21April 21 May 21 June 21July 21 Aug 21Sep 21 May 21 June 21 July 21 Aug 21 Sep 21
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Cumulative Provision Balance
Further Increased (₹57Cr Balance or
18% of AUM Already Provided For)
56 57
35
13
Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22
Provision Balance in ₹ Cr
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Implementation of New PTC Transaction
Revolutionary Automated Geo- Partnerships
Tagged Route Mapping System
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Geographical Expansion With
Opening Of 71 New Branches
315
297
267
244 244 244 244
Number of branches
Mar 21April 21 May 21 June 21July 21 Aug 21Sep 21
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Limit Increases Of Long-
Term Funding Partnerships
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Capitalising on the Underserved Market Opportunity

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Annual Household Income
> ₹ 17 Lakh
₹ 10-17 Lakh Banks and MSME Focused NBFCs
₹ 3.5-10 Lakh
₹ 2 - 3.5 Lakh Capital Trust Limited
Debt Shortfall in Micro of MSME: 87 Lakh Crore ($117Bn)
< ₹ 2 Lakh Microfinance Institutions
R
I
C
H
ASPIRERS
7%
30%
DEPRIVED
LOWER
MIDDLE
UPPER
MIDDLE
57%
5%
1%
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Banks and MSME Focused NBFCs

*NCAER-CMCR Annual Income Data

**IFC Report on MSMEs (Nov 2018)

Target Audience

Graduated from Microfinance

8% of the Microfinance clients graduate yearly from the Microfinance sector and hit a wall

New to Organized Credit

Replacing traditional informal sources of financing (local moneylenders) which currently account for 84% of all financing to MSMEs

MISSING MIDDLE

‘Micro’ of the MSME

Unserved by MFIs (owing to RBI guidelines) and banks / large NBFCs (owing to no formal income documentation)

Clients Needing Instant Credit

With 100% digital processes, company is able to disburse loans in a matter of hours from onboarding

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Our Clientele

Kirana Stores

Small Eateries

Utility Stores

Dairy and Livestock Farmers

Textile Stores

Salons

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Grocery Vendors

Handicraft Manufacturers

Flower Vendors

Increasing our Reach in Rural India

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6 branches opened in 20 branches opened in
Punjab in Q2 FY22 East UP in Q2 FY22
46 21 branches opened in
11 Bihar in Q2 FY22
3
37 76
51
23
40
8
20
11 branches opened in 13 branches opened in
MP in Q2 FY22 Jharkhand in Q2 FY22
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Capital Digital Initiative: Our Products

Addressing a wide spectrum of customers, across needs and affluence

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Product Name	Capital Magic Loan	Micro Business Loan
Type of Loan	Unsecured Digital Business Loan	Unsecured Digital Business Loan
Ticket Size (₹)	30,000 – 50,000	60,000
Tenure	12 months	24 months
ROI	36%+	32%
Repayment	Digital followed by physical cash collection	Digital followed by physical cash collection

• Why CTL? Production Optimization

• • Branch banking - Human connect - Small Ticket Size - High Yield - Ease of getting loan - Quick turnaround - Short Tenure - Digital Collection time Enabled
• • Unsecured loan - Transparency with - Optimal EMI amount - Full Cash connect app Collection Setup
• • Multiutility business loan - Paperless Process - Short Turn-Around-Time - Geo-tagged and Analytics backed

COMPETITIVE ADVANTAGES

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Creating a Competitive Advantage to Increase Stakeholder Value

• With a deep understanding of target customer segments, lean cost structures and differentiated business models we cater to underserved segments of the economy.

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Investing in
Capital
Trust
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• Our one-of-a-kind business model finds the perfect balance between technology and traditional financing, something not many other companies can do.

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2. Technology Driven Operational
Efficiency
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• By leveraging technology to penetrate underserved segments, we have capitalized on the inability of banks to rapidly scale operations and customize rigid policies in regard to providing business loans in rural India.

• This transformation is helping us create an agile and scalable business model.

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• Our conservative thought process towards financial engineering has helped us transform underwriting and decision making, thereby, helping drive competitive advantage and robust risk management.

• Further, our risk management frameworks proactively detect, manage and mitigate internal and external risks.

• Being a publicly listed NBFC for the last 36 years, we have built a robust governance model to maintain stakeholder trust and improve resilience to survive in testing times.

• This has enabled us to develop strategic partnerships with key ecosystem players and leverage technology for meeting the demands of new consumers.

1. Unique Business Model Financing the Overlooked Void

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TICKET SIZE UNSECURED SECURED ANNUAL INCOME
> ₹ 10 Lakh New Age Fintechs Large SME Funding NBFCs / Banks > ₹ 10 Lakh
MSME
₹ 1Lac - 10 Lakh Geographical Specialized MSME NBFCs Product Specialized MSME NBFCs ₹ 3.5 - 10 Lakh
₹ 30,000 – 1Lac ₹ 2 - 3.5 Lakh
Microfinance ₹ 20,000 – 60,000 NBFC-MFIs < ₹ 2 Lakh
Only player offering unsecured individual business loans in the ticket size of ₹ 30,000 - 1 Lac
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2. Technology Driven Operational Efficiency

Enabling Improved Disbursements & Collections

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100% 100% 100% 96% 94% 95% 96% 95% 96%
91% 90% 91% 91% 88% 89% 88%
81%
65%
54% 57% 60% 54% 53% 54%
53% 53%
48%
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21
Companywide Collection Efficiency New CDL Collection Efficiency Digital Collection as % Age of Collection
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With our newly developed automated disbursement engine and algorithmic credit scorecard, our disbursements have increased consistently. Further, our turnaround time has improved to 48 hours as on Q2 FY2022.

*Capital Digital Loans disbursed post April 2020 (automated credit engine backed)

** Collection % when bank clearance data is received (NACH clearance + Advance collection)

3. Prudent Risk Management

Conservative ALM Practices and Diversified Funding Book

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	DIVERSIFICATION ACROSS… Instruments Funders Term Loan, 25% Sub-Debt, 15% OD, 10% NCD, 10% ICD, 3% DA, 7% PTC, 17% BC, 12% Private Sector Banks, 49% Public Sector Banks, 21% DFI, 4% NBFC, 26%	DIVERSIFICATION ACROSS… Instruments Funders Term Loan, 25% Sub-Debt, 15% OD, 10% NCD, 10% ICD, 3% DA, 7% PTC, 17% BC, 12% Private Sector Banks, 49% Public Sector Banks, 21% DFI, 4% NBFC, 26%	DIVERSIFICATION ACROSS… Instruments Funders Term Loan, 25% Sub-Debt, 15% OD, 10% NCD, 10% ICD, 3% DA, 7% PTC, 17% BC, 12% Private Sector Banks, 49% Public Sector Banks, 21% DFI, 4% NBFC, 26%	DIVERSIFICATION ACROSS… Instruments Funders Term Loan, 25% Sub-Debt, 15% OD, 10% NCD, 10% ICD, 3% DA, 7% PTC, 17% BC, 12% Private Sector Banks, 49% Public Sector Banks, 21% DFI, 4% NBFC, 26%	DIVERSIFICATION ACROSS… Instruments Funders Term Loan, 25% Sub-Debt, 15% OD, 10% NCD, 10% ICD, 3% DA, 7% PTC, 17% BC, 12% Private Sector Banks, 49% Public Sector Banks, 21% DFI, 4% NBFC, 26%
	Q1FY22 (Actual) Q2FY22 (Actual) Q3FY22 (Expected) Q4FY22 (Expected) Quarterly Collections (₹ Cr.) 73.3 76.6 74.5 63.4 Quarterly Repayments (₹ Cr.) 53.8 58.4 57.3 44.3 Quarterly Surplus (₹ Cr.) 19.5 18.2 17.2 19.1 Monthly Surplus (₹ Cr.) 6.5 6.1 5.7 6.4 Asset Liability Position Update*
		Q1FY22 (Actual)	Q2FY22 (Actual)	Q3FY22 (Expected)	Q4FY22 (Expected)
	Quarterly Collections (₹ Cr.)	73.3	76.6	74.5	63.4
	Quarterly Repayments (₹ Cr.)	53.8	58.4	57.3	44.3
	Quarterly Surplus (₹ Cr.)	19.5	18.2	17.2	19.1
	Monthly Surplus (₹ Cr.)	6.5	6.1	5.7	6.4

• Assuming no incremental disbursements

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4. Strong Governance

Being a Publicly Listed Systemically Important NBFC, We Try to Create Sustainable Value for Stakeholders

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BOARD
Accountable for overall management and performance MANAGING DIRECTOR & CEO
1. Mr. Yogen Khosla Mr. Yogen Khosla
2. Mr. Sanjv Syal
3. Mr. Govind Saboo Delegate management of day-to-day affairs
4. Mr. Pawan Dubey Manage
5. Mr. Vahin Khosla strategy,
6. Ms. Suman Kukrety business plans
Reporting
COMPANY SECRETARY and policies
approved by
Reporting/accountability of corporate governance, Board
Stakeholder Audit & Risk Board and management matters
Relationship Management EXECUTIVE TEAM
Committee Committee
Management Reporting
Corporate Nomination Internal Auditor and oversight
Social and
Responsibility Remuneration External Auditor EMPLOYEES
Committee Committee
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Governance at Capital Trust is designed to align our purpose and value creation model to seize market opportunities and to create sustainable value. In this spirit, the Board provides leadership to drive integrated thinking and formulate requisite strategies to direct the Company to its desired aspiration.

DIGITAL JOURNEY

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Pioneers of Digital Transformation in Rural India Ready to Capture Next Phase Of Growth in Evolving Rural Ecosystem

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20
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More Rural Internet Users (277 Mn) than Urban (227 Mn): Indian internet is more rural and local than ever

Growing 3x Faster Than Urban India: Ready to capture rural digital growth as one of the first in the industry to introduce 100% digital processes

Registering 45% Growth in Internet Usage: With digital focus; best in class technology and analytics we have 100% paperless processing

18% Growth in Rural Smartphone Penetration: Poised to make most of upcoming potential with no manual processes and clients more mobile first than ever

Evolution of Capital Trust’s Digital Business Model

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2015 2016 2017 2018 2019 2019 2020 2020 2021 NOW 2012 Decision to go 100% Issuance of Geo-Tagged Decision to go 100% Incorporation of AI Enabled Launch of AI Enabled Cashless Disbursements Digital Receipts r ather Cashless Collection as Credit Engine (automated Geo-Tagged Client (First in rural industry) than physical passbook first mode of payment decision making with credit Route Mapping for signing (First in rural industry) scoring of borrower. Done increased operational (First in rural industry) on Income, Credit History efficiency and Debt servicing capacity) Launch of client-facing Capital Connect RURAL Launch of Capital Sales smartphone app Introduction of AI Enabled DOORSTEP-FINTECH smartphone app with (First in rural industry) Physical Visit Engine COMPANY real-time information at Start of 100% paperless processes : (automated income input staff fingertips analysing client industry, sales no physical signature required (First in rural industry) and margin) from sourcing to disbursement (First in rural industry)

PROACTIVE RATHER THAN REACTIVE:

Capital Trust is emerging as Thought and Innovation leaders capturing the changing rural landscape

RURAL DOORSTEPFINTECH PROCESSES

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Meaning: Rural Doorstep-Fintech

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1. LEAD GENERATION

Generate lead by door to door canvasing Geotagging of business and residential premise Mobile number verification through OTP Handholding of client through digital onboarding

2. HYBRID CREDIT UNDERWRITING

QR Code scan of Aadhaar Card Automated credit bureau check Physical Verification of business and residence premise Business and cash flow analysis Physical Visit Engine Credit Engine Telephonic Verification

4. COLLECTION

Automated client allocation based on client geo-tagged residence Automated outbound dialling, installment reminder message Monthly NACH payment Payment enabled through company app Cash collection if digital payment not received

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3.DIGITAL DISBURSEMENT

E-Sign / Signing of Terms and Conditions E-NACH Penny-drop verification Disbursement into bank account

DIGITAL PROCESS PHYSICAL PROCESS

3 Pillars of Capital Trust

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2. HYBRID DUAL CREDIT

Automated credit (credit bureau checks and preset algorithms) supplemented with Traditional Safeguards of Branch Banking (physical verification of residence, business premise and cash flow analysis)

1. TECHNOLOGY

Use of Technology for faster, confidential, transparent and better enhancement of credit profile with low risk and better returns

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₹
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3. BUSINESS INTELLIGENCE

Use of Advanced Statistical Models and predictive analysis before sanctioning a loan and after for performance evaluation

1. Technology

Cashless Disbursement & Collection

Automation of Daily Cash Book Through Digital Receipts

Staff Facing and Client Facing Applications

Digitalized HR Onboarding

Paperless Processes

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One of the first NBFCs to start cashless disbursement of all loans since 2015 and cashless collection as primary mode of repayment since 2019

Automated closing of company and all branch books at 6PM daily through collation of issued Digital Receipts (SMSs sent to client on collection of any repayment)

Staff and client-facing smartphone applications with access to all details regarding the loan to promote transparency and authenticity

All new staff onboarding through paperless, digitalized processes with joining formalities done within hours

100% paperless processes. From onboarding to disbursement all processes are digitalized and through the application with no scope of any manual input into system

2. Hybrid Dual Credit

Instant in-principal approval by automated credit decisioning system with no manual intervention at client doorstep. Final approval subject to positive physical verification of cash flow and disposable income

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Automated Credit Bureau Check

QR Code Scanning of Aadhaar By Field Team

Link-up with Equifax to review past credit history. Hard rejection in case of negative credit bureau history

Automatic uploading of client data into system. Location geo-tagged and case rejected if client residence is beyond 20kms from branch

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Telephonic Verification by HO Credit Team

No exceptions or manual intervention permitted

Algorithmic Credit Rule Engine & Physical Visit Engine Physical Verification Automatic rejection in case by Field Credit Team of any deviation from prescribed credit policies

Verification of documents uploaded into system and re-assessment of cash flow of client during call

Ground level authentication by physical verification of home, business and income. All details uploaded into app

• Decision communication flow and all processes are automated

• Technology used at all stages of loan cycle eliminating requirement of physical movement of documents

• All processes time stamped and tracking of cases available on live basis

3. Business Intelligence

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CREDIT ENGINE

Automated decision making with Credit Scoring of the borrower based on Income, Credit History and Debt servicing capacity. The engine calibrates regional differences in performance using pin-code level data

PHYSICAL VISIT ENGINE

Enablement of Independent Credit Officer’s data entry with backend automated decision making. System automatically calculates Household Income based on standardized business size, industry margin and expected expenses

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STAFF ENGINE

Integrated tool for real time monitoring of current staff availability and projected staff sufficiency at branch level by looking at past attendance this engine predicts staff shortfall in times to come

DISBURSEMENT ENGINE

Developed Real-Time system of automated controls on disbursement to avoid risk build up in branches. This engine helps monitor internal and external parameters and ensures automatic stoppage of branch/staff disbursement where collection parameters fall below a prescribed level

FINANCIALS

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Product-Wise Portfolio

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₹ 795 Cr
₹ 725 Cr
₹ 471 Cr
₹ 401 Cr
₹ 337 Cr
795 ₹ 311 Cr
723
338
235
194
164
134 166 143 146 ₹ 115 Cr New Capital
Digital Initiative
FY 18 FY 19 FY 20 FY 21 Q1FY22 Q2FY22
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Capital Digital Initiative Legacy Portfolio*

*Started 2019: Further split into Capital Magic, Micro Business Loan

**Stopped in 2019: Further split into Microfinance, Micro-Enterprise, Secured-Enterprise Loan

*** Capital Digital Loans disbursed post April 2020 (automated credit engine backed)

State-Wise Portfolio

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₹ 795 Cr
₹ 725 Cr
13
62
7
37
272 165 ₹ 471 Cr
₹ 401 Cr
106 12 ₹ 337 Cr
50 ₹ 311 Cr
115 6
83 90 6565 2552 22 15 13
72 57 43 22
21 41
70 48
70 43
62
151 51
189 99 80
66 61
71 82 85 68 65
37
FY 18 FY 19 FY 20 FY 21 Q1FY22 Q2FY22
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BIH PUN ODI MP RAJ UP JH UKH CH DEL EUP

Portfolio Quality

Stage 3 ECL

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8%
22
7.1%
7%
6%
5%
14 4.8%
3.8%
4%
3.8%
10 10
3%
1.9%
5 2%
1%
0%
Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Stage 3 ECL Stage 3 ECL %

• Own book data of Stage 3 ECL; Own + Off book data of 90+

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(₹ in Crores)

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90+
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16%
15.3%
52
14%
12.6%
12%
39
37
10%
33
8.7%
7.7% 29 7.5%
7.9% 8%
7.2%
6%
4.6%
4%
11 11
2.8%
7
2.1% 5 2%
4
0%
Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
Companywide 90+ Capital Digital Initiative 90+
Companywide 90+ % Capital Digital Initiative 90+ %
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Capital Digital Initiative 90+ Capital Digital Initiative 90+ %

• Company has restructured ₹76.9 Cr portfolio in Q2 FY2022

Portfolio Quality – New Capital Digital Initiative Loans

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Robust portfolio quality of loans disbursed post April 2020 (automated credit engine backed) (automated credit engine enabled )

(₹ in Crores)

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Total Portfolio 90+ DPD:
Disbursed: Outstanding: 1.7%
₹ 186 Cr ₹ 115 Cr
5%
115 5%
105 4%
95
4%
3%
72
3%
2%
1.7%
2%
22
1%
1%
0 0.3%
0%
Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
New Capital Digital Loans 90+
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Outstanding Provisions

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Cumulative Provisions of ₹ 57.1 Crores which accounts for 22.4% of the On-Balance Sheet Portfolio

(₹ in Crores)

Particulars	Q2 FY21	Q3 FY21	Q4 FY21	As on 31.03.2021	Q1 FY22	Q2 FY22
Standard Provisions (Stage 1 & 2)	6.5	5.8	4.4	4.4	4.7	1.3
COVID & Other Provisions (Including Stage 3)	16.0	6.8	31.1	31.1	50.9	55.8
Cumulative Provision Balance	22.5	12.6	35.5	35.5	55.6	57.1
Impairment Charged to P&L	1.7	4.2	23.5	35.3	20.1	1.5

Key Highlights & Ratios

Asset Under Management (₹ in Crores)

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577
509
471 467
430 427 401
337
311
Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Capital Adequacy Ratio (%)

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46.7% 47.9% 49.8% 51.2% 46.6% 45.2%
41.6% 42.6%
37.1%
Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Net Worth (₹ in Crores)

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155 162 155 157 158 157
131
117 118
Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Leverage (in X)

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2.5
2.1 1.8 2.0 1.9 2.0
1.6 1.6 1.5
Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Key Highlights & Ratios

Borrowings (₹ in Crores)

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386
324
272 255 234 237 259 228 240
Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Net Interest Margin (%) (Annualised)

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15.8%
14.2%
12.1% 10.7% 12.1% 11.6% 11.0%
9.6%
7.8%
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Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Cost of Borrowing (%)

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14.2% 14.2%
13.2% 13.4% 13.1% 13.1% 13.0% 13.1% 13.2%
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Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22

Operating Cost to AUM Ratio (%) (Annualised)

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16.9%
15.9%
15.1% 14.5% 15.1%
12.4% 13.0%
10.8%
9.2%
Q2FY20 Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Quarterly Consolidated P&L Update Q2 FY2022

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(₹ in Crores)

Particulars	Q2 FY22	Q2 FY21	YoY %	Q1 FY21	QoQ %
Total Income	26.3	27.0	-3%	22.8	15%
Total Expense (excluding tax)	25.1	25.9	-3%	41.7	-40%
Profit / Loss before tax	1.2	1.1	9%	-19.0	-106%
Profit / Loss after tax	0.9	0.9	0%	-13.8	-106%
Net Worth	117.8	157.5	-25%	116.9	1%
	65.3 80.9	91.0 53.3	-28% 52%	75.9 67.5	-14% 20%
Micro-Business Loan
Capital Magic Loan
Capital Digital Initiative	146.2	144.2	1%	143.4	2%
Micro-Enterprise Loan	159.9	245.1	-35%	184.9	-14%
Secured Enterprise Loan	1.9	20.3	-91%	4.4	-58%
Microfinance Loan	2.8	19.8	-86%	4.7	-41%
Legacy Portfolio	164.6	285.2	-42%	194.0	-15%
Total Assets Under Management (AUM)	310.8	429.5	-28%	337.4	-8%
	254.9	317.3	-20%		0%
On-Book Portfolio				254.4
Off-Book Portfolio	55.9	112.2	-50%	83.0	-33%
Total Assets Under Management (AUM)	310.8	429.5	-28%	337.4	-8%

Quarterly Consolidated Balance Sheet Update Q2 FY2022

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(₹ in Crores)

Assets	Q2 FY22	Q1 FY22	Mar-21	Liabilities And Equity	Q2 FY22	Q1 FY22	Mar-21
Financial Assets				Financial Liabilities
Cash and Cash Equivalents	21.2	27.2	38.5	Trade Payables	0.1	0.5	0.5
Bank Balances other than cash & cash Equivalents	51.9	41.1	40.9	Debt Securities	80.1	44.0	55.5
Trade Receivables	2.7	1.3	1.7	Borrowings other than Debt Securities	114.0	137.3	156.6
				Deposits	0	0	0
Loan Portfolio	195.8	196.3	242.6	Subordinate Liabilities	44.8	44.8	44.8
Investments	42.2	41.5	41.0	Lease Liabilities	0.2	0.2	0.2
Other Financial Assets	16.2	5.8	5.3	Other Financial Liabilities	10.4	6.1	9.8
Total Financial Assets	330.0	313.3	370	Total Financial Liabilities	249.6	233.0	267.5
				Non-Financial Liabilities
				Current Tax Liabilities(Net)	0.2	0.1	1.2
Non-Financial Assets				Provisions	1.5	1.5	1.4
Current Tax Assets(Net)	4.2	3.5	2.9	Other Non-Financial Liabilities	4.2	4.9	7.5
Deferred Tax Assets(Net)	35.5	35.6	30.3	Total Non-Financial Liabilities	6.0	6.5	8.9
Property,Plant and Equipment	1.7	1.8	1.9
Right to use Asset	0.2	0.2	0.2	Equity
Intangible Assets	0.2	0.1	0.2	EquityShare Capital	16.2	16.2	16.2
Other Non-Financial Assets	1.6	1.8	1.6	Other Equity	101.6	100.7	114.5
Total Non-Financial Assets	43.4	43.1	37.1	Total Shareholders Fund	117.8	116.9	130.7
Total Assets	373.4	356.4	407.1	Total Liabilities and Equity	373.4	356.4	407.1

KEY PARTNERSHIPS

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Long-Term Funding Partnerships

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MSME Client through Business Correspondent Relationship

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- Benefits of Long Term Funding Secured

Enables Raise Of On-Tap Funding Increase Of ROE Equity At Right Time

Leveraging Partner’s Balance Sheet

Equity, Debt & Direct Assignment Partnerships

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Equity:
1
Public Sector Banks:
5
Private Sector Banks:
2
DFI / NBFCs:
10
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CAPITAL IMPACT

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Capital Plus

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Working with a Double-Bottom Line mission, company does a lot of good on ground level

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Encouragement of
Increase in
self-sufficiency and
financial
entrepreneurship
discipline
Facilitating
financial Mitigation of
inclusion of the financial Financial Literacy
unbanked and volatility
un-serviced
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THANK YOU

Vinod Raina Chief Financial Officer Vinod.raina@capitaltrust.in

Vahin Khosla Executive Director Vahin.khosla@capitaltrust.in

Pushpa Mani/Vikash Verma IR Consultants Email: capital.trust@dickensonworld.com Contact no.: +91 9911684123/9664009029