Capital Trust Ltd. — Interim / Quarterly Report 2022

Aug 14, 2021

(CIN-L65923DL1985PLC195299)

August 14, 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 of Part 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. August 14, 2021 has inter-alia considered and approved and took note of the following businesses:

1. Un-audited financial statements of the company (consolidated and standalone) for the quarter ended on June 30, 2021 along with limited review report from the Statutory Auditors of the company;

2. Merger of company's subsidiary, Capital Trust Microfinance Private Limited with the Company.

Further, the meeting commenced at 04.00 p.m. and concluded at 05.40 p.m.

(CIN-L65923DL1985PLC195299)

We are hereby enclosing the financial results along with limited review 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

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 Review Report on Unaudited Consolidated Financial Results for the quarter ended June 30, 2021 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, as amended

To Board of Directors of Capital Trust Limited

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of Capital Trust Limited ('the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended June 30, 2021, ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. The Statement includes the results of the following subsidiaries:
  • a. Capital Trust Microfinance Ltd.
  • b. Capital Trust Housing Finance Ltd.
• 1. The unaudited consolidated financial results include the interim financial results of abovementioned subsidiaries which have not been reviewed by their auditors, whose interim financial results reflect total revenue from operation of Rs. 192.91 Lakhs, total net profit/(loss) after tax of Rs. 46.18 Lakhs and total comprehensive income/(loss) of Rs. 46.18 Lakhs for the quarter ended June 30, 2021 as considered in the unaudited consolidated financial results. These financial statements were certified by the management of the respective companies. According to the information and explanations given to us by the management, these interim financial results are not material to the Group.

KOLKATA

MUMBAI

AHMEDABAD

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement read with notes therein, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard (Ind AS) and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Requlation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Place: Noida (Delhi - NCR) Date: August 14, 2021

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

$\Omega$ $\mathbf{a}$

Chanderkant Choraria Partner Membership No. 521263 UDIN: 21521263AAAABK5784

CAPITAL TRUST LIMITED CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2021

			(Rs.inLakhsexceptEPS)
	30Jun2021Unaudited	3monthsended31Mar2021AuditedReferNote6	30June2020Unaudited	Yearended31Mar2021Audited
Revenuefromoperations
InterestIncome	1,866.53	2,412.08	2,433.81	9,166.09
Netgainonfairvaluechanges	57.51	(2.11)	154.91	308.47
FeesandcommissionIncome	123.61	416.03	0.02	427.97
Netgainonderecognitionoffinancialinstrumentsunderamortised
costcategory	-	48.74		-71.02
ReversalofImpairmentonfinancialinstruments	-	23.10		-23.10
Otherrevenues	224.10	185.79	127.98	1,382.98
Otherincome	5.43	(269.30)	107.40	79.19
TotalIncome	2,277.18	2,814.33	2,824.12	11,458.82
Expenses
Financecosts	806.08	771.12	870.13	3,311.91
Feesandcommissionexpense	74.64	161.67	53.92	405.39
Impairmentonfinancialinstruments	2,013.51	2,346.21	587.96	3,526.97
Employeebenefitsexpense	838.09	992.90	811.22	3,934.38
Depreciation,amortizationandimpairment	13.11	13.84	18.69	57.64
Otherexpenses	428.26	1,860.67	197.97	3,160.28
Totalexpenses	4,173.69	6,146.41	2,539.89	14,396.57
Profit/(Loss)beforeexceptionalitemsandtax	(1,896.51)	(3,332.08)	284.23	(2,937.75)
Exceptionalitems	-	-	-	-
Profit/(Loss)beforetax	(1,896.51)	(3,332.08)	284.23	(2,937.75)
Taxexpense
Currenttax	15.64	(38.49)	38.93	80.02
Deferredtaxcharge/(credit)	(531.82)	(672.60)	32.75	(655.32)
Profit/(loss)fortheperiod(A)	(1,380.33)	(2,620.99)	212.55	(2,362.45)
Othercomprehensiveincome(OCI)Itemsthatwillnotbereclassifiedtoprofit&lossRemeasurementofdefinedbenefitliabilities/assets(netoftax)
	-	(12.75)	-	(12.75)
Totalothercomprehensiveincomeforperiod(B)	-	(12.75)	-	(12.75)
Totalcomprehensiveincome(A+B)	(1,380.33)	(2,633.74)	212.55	(2,375.20)
NetProfitattributableto:
OwnersoftheCompany	(1,380.33)	(2,620.99)	212.55	(2,362.45)
Non-ControllingInterest	-	-	-	-
OtherComprehensiveIncomeattributanleto:
OwnersoftheCompany	-	(12.75)	-	(12.75)
Non-ControllingInterest	-	-	-	-
TotalComprehensiveIncomeattributanleto:
OwnersoftheCompany	(1,380.33)	(2,633.74)	212.55	(2,375.20)
Non-ControllingInterest	-	-	-	-
Paid-upEquityShareCapital(FaceValueofRs.10pershare)	1,621.75	1,621.75	1,621.75	1,621.75
OtherEquity				10,070.75
Earningsperequityshare(ofRs.10each)
-Basic&Diluted(notannualized)(Rs.)	(8.51)	(16.24)	1.31	(14.65)

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. Covid 19 pandemic hasled to significant disruptions for individuals and business, impacting Company's regular operations including lending and collection activities. A large segment of our customers are linked to the local economy and operation in essential services. Due to this, in the opinion of management, there is signigficant increase of creditrisk of such borrowers. Accordingly, the company has made additional provision during the quarter for estimated expected credit loss ofRs. 2004.26 and carrying totaladditional provision of Rs. 4355.65 lakhs (previous year ended March 31, 2021: Rs. 2657.70 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 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 current market indicators and is subject to uncertainty and may be affected by the severity and duration of pandemic, including government and regulatory measures on the business and financial metrics of the Company.

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

No.ofborrowers	No.ofaccountswhereresolutionplan	Exposuretoaccountsmentionedbefore
Unsecuredbusinessloans	hasbeenamendedunderthiswindow6830	implemen3ta2i6o9n.22oftheplan

1. In accordance with the instructions in the RBIcircular dated 7 April 2021, 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 or partially 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 in previous quarter / year..

2. The Listed Secured Non-convertible Debentures ofthe Company aggregating to Rs3000 Lakhs (outstanding Rs. 3000 Lakhs as atMarch, 2021) were secured by way of charge over the Company`s receivables as specifically mentioned in therespective Trust Deeds and the asset cover as per the terms of the Sanction Letter. Disclosures under Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 are given in Annexure A

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

4. The above results were reviewed by the Audit Committee and approved by the Board of Directors ofthe Company at their meeting held on 14August 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 : 14 August 2021 Chairman cum Managing Director

Annexure- A

DisclosurepursuanttoRegulation52(4)oftheSecuritiesandExchangeBoardofIndia(LODR)Regulations,2015forthequarter
ended30June2021

1	CreditRating
	Instrument	RatingAgency	Rating
	NonConvertibleDebenture	CareRating	CareBBB-
2	Debt-EquityRatio	1.93
3	Previousduedateforpaymentof	interest/principal
	ISIN	BSESCRIPCODE	From01January2021to31March2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.04.2021	NA
4	Nextduedateforpaymentof	interest/principalalongwith	interest
	ISIN	BSESCRIPCODE	From01April2021	to30June2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.07.2021	NA
5	DebentureRedemptionReserve		NoDRRisrequiredinrespectofprivatelyplaceddebenturesintermsRule18(7)(ii)of
			Companies(ShareCapitalandDebenture),
			Rules,	2014
6	NetworthasonJune30,2021		11,692.50	Lakhs
7	NetProfit/(Loss)afterTax		(1,380.32)	Lakhs
8	Earningpershare		(8.51)

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. 9 205575996 E-mail: newdelhi@singhico.com | Website: www.singhico.com

Independent Auditor's Review Report on Standalone Unaudited Financial Results for the quarter ended June 30, 2021 Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, as amended

To the Board of Directors of Capital Trust Limited

• 1. We have reviewed the accompanying statement of standalone unaudited financial results ("the Statement") of Capital Trust Limited ('the Company") for the quarter ended June 30, 2021. This Statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on the statement based on our review.
• We conducted our review of the Statement in accordance with the Standard on Review $2.$ Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial results are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• Based on our review conducted as above, nothing has come to our attention that causes us 3. to believe that the accompanying statement of unaudited financial results read with notes therein, prepared in all material respects in accordance with the applicable accounting standards and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

НI

NOIF

Chartered Accountants Firm Registration No. 302049E hande

For Singhi & Co.

Chanderkant Choraria Partner Membership No. 521263 UDIN: 21521263AAAABJ6523

Place: Noida (Delhi - NCR) Date: August 14, 2021

Page 1 of 1

CAPITAL TRUST LIMITED CIN No.: L65923DL1985PLC195299 Regd & Corp.Office: 205, Centrum Mall, Sultanpur, M G Road, New Delhi - 110030 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2021

			(Rs.in	LakhsexceptEPS)
	30Jun2021Unaudited	3monthsended31Mar2021Audited	30June2020Unaudited	Yearended31Mar2021Audited
		(ReferNote7)
Revenuefromoperations
InterestIncome	1,838.96	2,394.38	2,304.50	8,826.97
Netgainonfairvaluechanges	57.51	(2.11)	154.91	308.47
FeesandcommissionIncome	123.61	135.45	0.02	413.39
Netgainonderecognitionoffinancialinstrumentsunder
amortisedcostcategory	-	48.74		-71.02
Otherrevenues	180.01	170.06	107.38	1,283.95
Otherincome	80.43	86.29	92.81	382.86
TotalIncome	2,280.52	2,832.81	2,659.62	11,286.66
Expenses
Financecosts	927.07	885.26	995.95	3,821.41
Feesandcommissionexpense	72.76	158.32	53.92	393.49
Impairmentonfinancialinstruments	2,004.26	2,407.88	508.14	3,526.97
Employeebenefitsexpense	808.57	953.38	765.23	3,760.19
Depreciation,amortizationandimpairment	13.11	13.84	18.69	57.64
Otherexpenses	413.18	1,471.93	196.11	2,756.85
Totalexpenses	4,238.95	5,890.61	2,538.04	14,316.55
Profit/(Loss)beforeexceptionalitemsandtaxExceptionalitems	(1,958.43)-	(3,057.80)-	121.58-	(3,029.89)-
Profit/(Loss)beforetax	(1,958.43)	(3,057.80)	121.58	(3,029.89)
Taxexpense
Currenttax	-	-	-	-
Deferredtaxcharge/(credit)	(532.81)	(648.82)	30.43	(652.64)
Profit/(loss)fortheperiod(A)	(1,425.62)	(2,408.98)	91.15	(2,377.25)
Othercomprehensiveincome(OCI)Itemsthatwillnotbereclassifiedtoprofit&lossRemeasurementofdefinedbenefitliabilities/assets(netof
tax)	-	(12.75)	-	(12.75)
Totalothercomprehensiveincomeforperiod(B)	-	(12.75)	-	(12.75)
Totalcomprehensiveincome(A+B)	(1,425.62)	(2,421.73)	91.15	(2,390.00)
Paid-upEquityShareCapital	1,621.75	1,621.75	1,621.75	1,621.75
(FaceValueofRs.10pershare)
OtherEquity				9,970.87
Earningsperequityshare(ofRs.10each)-Basic&Diluted(notannualized)(Rs.)	(8.79)	(14.85)	0.56	(14.66)

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 segmentviz 'financing activities and hence there is no other reportable segmentas per Ind AS 108.

2. Covid 19 pandemic has led to significant disruptions for individuals and business, impacting Company's regular operations including lending and collection activities. A large segment of our customers are linked to the local economy and operation in essential services. Due to this, in the opinion of management, there is signigficant increase of creditrisk of such borrowers. Accordingly, the company has made additional provision during the quarter for estimated expected credit loss of Rs. 2004.26 and carrying total additionalprovision of Rs. 4355.65 lakhs (previous year ended March 31, 2021: Rs. 2657.70 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 its assets including investments, receivables and loans in the ordinary course of business based on information available on current economic conditions. The Company has adequate liquidity to discharge its obligations. Given the dynamic nature of pandemic situation, these estimates are based on current market indicators and is subject to uncertainty and may be affected by the severity and duration of pandemic, including government and regulatory measures on the business and financial metrics of the Company.

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

No.ofborrowers	No.ofaccountswhereresolutionplan	Exposuretoaccountsmentionedbefore
Unsecuredbusinessloans	6830	3269.22

1. In accordance with the instructions in the RBI circular dated 7April 2021, 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 or partially availed, or not availed. Pursuant to theseinstructions, 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 madeprovision for refund/adjustment in previous quarter / year.

2. The Board of Directors have approved the merger of its two wholly owned subsidiaries, i.e., Capital Trust Microfinance Private Limited and Capital Trust Housing Finance Private Limited with the Company,w.e.f 01 April 2021. Pending approval of the regulatory authorities, no impact on above results have been considered.

3. The Listed Secured Non-convertible Debentures of the Company aggregating to Rs3000 Lakhs (outstanding Rs. 3000 Lakhs as atMarch, 2021) were secured by way of charge over the Company`s receivables as specifically mentioned in the respective Trust Deeds and the asset cover as per the terms of the Sanction Letter. Disclosures under Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 are given in Annexure A

4. The figures for the quarter ended March 31, 2021 arethe balancing figures of the audited figures in the full financial year and the published year to date figures for the nine months.

5. The above results were reviewed by the Audit Committee and approved by the Board of Directors ofthe Company at their meeting held on 14 August 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 : 14 August 2021 Chairman cum Managing Director

Annexure- A

DisclosurepursuanttoRegulation52(4)oftheSecuritiesandExchangeBoardofIndia(LODR)Regulations,2015forthequarter
ended30June2021

1	CreditRating
	Instrument	RatingAgency	Rating
	NonConvertibleDebenture	CareRating	CareBBB-
2	Debt-EquityRatio	2.33
3	Previousduedateforpaymentof	interest/principal
	ISIN	BSESCRIPCODE	From1stApr,2021to30thJune2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.04.2021	NA
4	Nextduedateforpaymentof	interest/principalalongwith	interest
	ISIN	BSESCRIPCODE	From1stJuly2021to30thSeptember2021
			Interest	PrincipalPayment
	INE707C07023	959941	21.07.2021	NA
5	DebentureRedemptionReserve		NoDRRis	requiredinrespectofprivately
			placeddebentures	intermsRule18(7)(ii)of
			Companies(Share	CapitalandDebenture),
				Rules,2014
6	NetworthasonJune30,2021			11,592.62Lakhs
7	NetProfit/(Loss)afterTax			(1,425.62)Lakhs
8	Earningpershare			(8.79)