IFCI Ltd. — Interim / Quarterly Report 2020

Nov 20, 2019

No. IFCI/CS/2019- qq 9-

November 20, 2019

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SIFCI
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The National Stock Exchange of India Limited

Exchange Plaza Plot No. C/1, G Block, Bandra Kurla Complex Bandra (East) Mumbai — 400 051

CODE: IFCI

Dear Sir,

Re: Financial Results of the Compan y for the qua rt er and half-year ended September 30, 2019 along with the Ce rt ificates of Debenture Trustees.

Pursuant to the provisions of Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith the standalone and consolidated Financial Results of the Company for the quarter and half-year ended September 30, 2019 enclosed at Annexure I. Also, as per the provisions of Regulation 52(4) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the requisite information to be submitted along with the financial results is as under:

S.No.	Particulars	Details
1	Credit Rating and Change in the Credit Rating,if any	Enclosed at Annexure-II
2	Debt—EquityRatio	3.43
3	Previous due date for the payment of interest of non-convertible debt securities / repayment of principal of non-convertible debt securities and whether the same has been paid or not	Enclosed at Annexure-III
4	Next due date for the payment of interest of Non-Convertible Debt Securities / principal along with the amount of interest of non-convertible debt securities payable	Enclosed at Annexure-III
5	Debenture Redemption Reserve	1247.08 crore
6	Net Worth	14,192.40 crore
7	Net Loss After Tax	(1.68) crore
8	Earnings Per Shar	(0.01)

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IFCI Limited

Regd. Office:

IFCI Tower, 61 Nehru Place, New Delhi - 110 019 3r^c Phone: +91-4173 2000, 4179 2800 1f[lI] Fax: +91-11-2623 0201, 2648 8471 Website: www.ifciltd.com Q CIN: L74899DL1993GO1053677

In Development of the Nation since 1948

^v/]FCI LIMITED - ftNco+ +m dhU ua xyl

1. It may kindly be noted that as per the Proviso to Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the requirement to disclose asset cover, debt se rv ice coverage ratio and interest se rv ice coverage ratio are not applicable on the Non-Banking Financial Companies registered with Reserve Bank of India, hence IFCI being NBFC — ND-SI have not disclosed the above data. Also, there is no "Outstanding Redeemable Preference Shares of IFCI Ltd.

2. Further, pursuant to the provisions of Regulation 52(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Certificates from the Debenture Trustees viz. Axis Trustee Services Limited, Centbank Financial Services Limited and IDBI Trusteeship Services Limited stating that the information as per Regulation 52(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been taken note of is enclosed at Annexure IV.

Thanking You

Yours faithfully For IFCI Limited

en

(Rupa Sarkar) Company Secretary

Ends: a/a

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No. IFCI/CS/2019-98 2_

November 13, 2019

The National Stock Exchange of India Limited

Exchange Plaza Plot No. C/1, G Block, Bandra Kurla Complex Bandra (East) Mumbal — 400 051

CODE: IFCI

Dear Sir/Madam,

Re: Outcome of the Board Meeting held on November 13, 2019.

Pursuant to the provisions of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we submit herewith the Un-Audited Standalone and Consolidated Financial Results of the Company for the quarter and half-year ended September 30, 2019 along with their respective Limited Review Reports enclosed as Annexure.

Thanking You

Yours faithfully For IFCI Limited

-v2sz (Rupa Sarkar) Company Secretary

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IFCI Limited

Regd. Office:

IFCI Tower, 61 Nehru Place, New Delhi - 110 019 Phone: +91-4173 2000, 4179 2800 Fax: +91-11-2623 0201, 2648 8471 Website: www.ifciltd.com

CIN: L74899 0 L1993G 0 1053677

In Development of the Nation since 1948'

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FCI LTD.

CIN: L74899Dt1993G01053677

RECD. OFFICE : IFCI TOWER 61, NEHRU PLACE, NEW DELHI - 110 019 WEBSITE: www.ifciltd.com

STATEMENT OF UNAUDITED (STANDALONE) FINANCIAL RESULTS FOR THE QUARTER AND PERIOD ENDED SEPTEMBER 30, 2019

(I In Crores)

								(I In Crores)
	PaetaI				Standalone	Results
			Quarter ended 30/09/19 (Unaudited)	Quarter ended 30/06/19 (Unaudited)	Quarter ended 30/09/18 (Unaudited)	Period ended 30/09/19 (Unaudited)	Period ended 30/09/10 (Unaudited)	Year ended 31/03/19 (Audited)
1	Revenue from operations
	a)	Interest Income	500.02	465.76	399.63	965.78	1,026.57	2,063.25
	b)	Dividend Income	12.97	0.11	20.48	13.08	21.13	39.14
	c)	Rental Income	8.83	8.12	7.78	16.95	15.64	32.08
	d)	Fees and commission Income	6.41	6.39	5.04	12.80	1128	22.76
	e)	Net gain on fair value changes					-
		Total Revenue from operations	528.23	480.38	432.93	1,008.61	1,074.62	2,137.23
	1)	Other Income	8.74	8.85	269.40	37.59	279.62	308.97
	Total Income		536.97	489.23	702.33	1,026.20	1,354.24	2,466.20
2	Expe	nses
	a)	Finance costs	366.73	385.13	448.82	751.86	918.51	1,756.14
	b)	Net loss on fair value changes	193.99	5154	- 81.60	245.53	100.06	112.81
	c)	Impairment on financial Instruments	(59.79)	1427.74)	180.95	(487.53)	82396	1,084.83
	d)	Employee Benefits Expenses	23.12	31.60	27.79	54.72	45.74	112.12
	e)	Depreciation and Amortization	7.74	7.74	8.28	15.48	16.54	32.81
	f)	Others expenses	18.69	37.92	10.28	56.61	23.48	5678
	Total expenses		550.48	86.19	757.72	636.67	1,928.29	3,157.49
	Proft/(loss) before exceptional and tax (1-2)		(1351)	403.04	(55.39)	399.33	(574.05)	(691.29)
	Exceptional items
5	Profit/(loss) beforelax(3-4)		(13.51)	403.04	(55.39)	38953	(574.05)	(691.29)
6	Tax expense
~~-~~	a)	Income tax						(6.39)
	6)	Taxation for earlier a			(4.29)		(5.17)
	c(	a Deferred Tax (Net)	(22.20)	413.41	(34.55)	391.21	(211.56)	1241.071
	Tax expense (6(a) to 6(c))		(22.20)	413.41	(38.84)	391.21	(216.73)	(247.46)
7	Profit/(lose)for theperiod(5r6)		8.69	(10.37)	(1655)	(L68)	(357.32)	(443,83)
8	Othe	r Comprehensive income
	ai	Items that will not be redassified to profit or loss
		-Fair value changes on FVTOCI'equity securities	(12.62)	2.49	76.48	(15.11)	7.62	- 14.40
		-Loss on sale of FVrOCI-equity securities		15.12)	(90.36	5.121	(90.36)	(117.72)
		-ACtvadal ain/loss) on defined benefit obligation	(6.95)	6.95	0.94		1.94	50.39
		Income tax relating to items that vAll not be reclassified to profit or loss
		-Tax on Fair value thanes on FVrOCI-Equity securities	(37.04)	0.87	1.05	(36.17)	423	41.93
		-Tax on Actuarialgain/)loss) on Defined benefit obligation	21.08	(2.43)	(0.33)	18.65	(0.68)	(17.61)
		Subtotal a	35.531	(2.22)	(12.22)	(37.75)	(77.25)	(28.61)
	b)	Items that will be reclassified to profit or loss
		-Debt securities measured at FVr00-net change in fair	(35.01)	43.25	21.98	8.24	(21.93)	(16.16)
		-Debt securities measured at FVr00- reclassified to profit and lot						(0.35)
		Income tae relating to Items that will be reclassified to profit or loss
		-Tax on Falrvalue changes on FVTOCI'Debt securities	(2.23)	0.54	(7.68)	(1.69)	7.66	5.77
		Subtotal b	(37.24)	43.79	14.30	655	(14.27)	(10.74)
	Othe	rcomprehensive Income / (loss) (net oftai)	72.77	4157	2.03	(31.20)	9152	3935
9	Total comprehensive Income/Ions (after tax) NS		(64-08)	31.221	(14.47)	(32.88)	1448.84)	(483.18)
10	Paid-u a ity share capital (Face Value of_a_10/-each)		1,695.99	1,695.99	1,695.99	1,695.99	1,695.99	1,695.99
11	Other equity (asper audited balance sheet as at 31st March)							2,529.31
12	Earnings per share (face value of R 10 each) (not annualised for the Interimperiods):
	(a) Basic)!)		0.05	0.06	(0.10)	(0.01)	12.11)	(2.62)
	(b) Diluted)!)		0.05	(0.06)	(0.10)	0.01	(2.11)	(2.621

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IFCI LTD. REGD. OFFICE : IFCI TOWER 61, NEHRU PLACE, NEW DELHI - 110 019

WEBSITE: www.ifclltd.com

		(clnCroresl
STATEMENT Of ASSETS &NABII151E5	(STANDALONE)
Particulars	AS at 30/09/19 unaudited	As at 31/03/19 Audited
ASSETS	449.33 567.31 32.64 3.21 12,493.27 2,85168 %.25	395.54 544.21 1466 230 13,109.19 3,460.95 159.81
(1) Flmndal assels (a) Cash and cash eyullents (b) Bank balance other than (a) above (c) Derhetlre financial instruments (dl Trade receivables (e) Loans (ft Investments (81 Other financial assets
Total financial assets	16,494.69	17,682.
(2) Non-9nandal Assets a)Investmentlnsubsidlaries (b) Investment accounted using equity method (al Current tan assets IMel Id) Deferred tue as INet) (e) Investment property It) Property, plant and equipment IelCapital work'ln-progress (h)Otherintangibleassets IllOther non-flnanclal assets	- 1,34590 13679 1,683.50 191.09 696.87 - 139 3144	1,367.81 126.68 2,05331 19337 724.70 1.65 14.51
Total non-financial assets	4,056.99	4,52163
Assets classified as held for sale	15.01	45.46
Total assets	20,596.68	22,25555
II. DABIUTIES AND EQUITY
11ABILITIES 11) Financial Liabilities (a) Trade peryables ()) total outstanding dues of micro enterprises and small enter (III total outstanding dues of creditors other than micro enterprises and small enterprises hI Debt securIties Ic)Borrowings lother than debt sewdtiesl Id) Subordinated liabilities (al Other financial llablitles	T1.T9 8,786.78 4,263.24 1,313.30 1,828.11	107.2) 9,22679 5,553]1 1,313.30 1.744.11
TobNlnandal 1bb01tles	16,263.22	17,945.78
(2) Nprvfnanclal liabilities (a)Prorruions (b)Other nonfinancial liabilities	139.99 101	83.08 1.39
Total nrnlnantlal RabIliW	141M	8447
(3) Equity (a) Equity share capital (b)Other eqWry	1,695.99 2,496A1	1,695.99 2,52931
Total equity	4.192	4,21530
Total liabilities and equity	20,5%b9	22,25535

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IFCI LTD.

•

CIN: 1.74899D11993G010536]] REGD. OFFICE: IFCI TOWER 61, NEHRU PIACE, NEW DELHI - 110 019

WEBSITE: www.Ifclltd.com

Il in Crones]

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Il in Crones]	Il in Crones]	Il in Crones]	Il in Crones]
STATEMENT Of_CASH_FLOW ISTANDALONE)
Panmulars		Period ended 30/69/19(Unapoled)	Period ended 30/09/18 (Unaudited)
A. CASH_FLOW_FROM OPERATING ACTIVISTS Net Profit before Tar Adjustments for: Depreciation and amortisation Impairment provision/write offs Unrealised galNlloss) on investments Impairment on Assets held for sale ImpaRment on Nonfinancial asset ipiofit)/Wason Sate of Assets Interest cost on preference shares		389.53 15.48 (487.53) - - - X2.53)	(524.05) 16.54 82396 46.34 (143.66) (9.25) 10.04
OperatingProfit before Working CapitalChanges& OperatingActivities		(91.05	169.92
Adjustments for Operating Activities: ncrease)/ decrease in Investments )increase)/ decrease in Loans & Adwraces Ilocrease)/ decrease in Derivative Financial instruments Increase/ (decrease) In Trade PaWNes Increase/ (decrease) In Subordinated Ilabiiiiies )increue)/ decrease in Receivables Increase/ (decrease) In Debt Securities Increase/ Ideaease) In Oanowisgn		548.70 1,116.36 (17.98 (35.48) 0.12 (440.01) (1,290.47)	1,066.41 213.06 X14.77) (15.79) 0.52 11.00 X147.07) 11,643.19)
Operating Profit before Working Capital Changes		(209.81)	140.09
Adjustments for: iincreuse)/ decrease in Other financial Assets Increase/ )decrease) In Other Non-financlel Asset Increase/ Idevose) in Other Financial Liability Increase/ (decrease) In Other Non-financial Liability Increase/ )decrease) in Provision Increase/ (decrease) in other bank balances increase/ )decrease) In assetshad for sale		(16.93) 63.49 83.40 (0.32)) 213.87 (23.10) 30,45	- (2.53 60.71 (297.10) (0.22) 41.65 99.08 176.35
Cash Flaw before taxation		250.86	2994
Income Tax )paidf/refund-Net		(10.11)	1.93
Net cash flowIrons OperatingACtNNIes		30.94	219.96
B. CASH FLOW FROM INVEStiNG ACTMTIES Purchase of/Advance for property, plant and equipments (Including Lea investmentinsubsldiariet Proceeds from sale of hrvestmem property tale of investment in associates and joint ventures Purchase off Advance for Intangible Asset Proceeds from oak of p rop erty, plant and equipments hrckuding leased		- (2.08) 0.26 24.67	(0.05) 14.55
Net .0 flaw from InvestIng Aahtties		21.55	1450
C. CASH ROW FROM HNANONG ACTMIIE5 Redemption of Preference Shares Issue W Equity Shares Stara Premium net of espenses)			(201.26)
Net cash flow from Flnarldng	Activities		(201.26)
Net Increase/ (Decrease) In C	ash and Equivalent new 4AtBaq	53.29	33.20
Opening Cash and Cash Equ ivalent dolingCash and O,h Equiakm		395.54 449.33	192.71 225.91

14-

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(S in Crores)

STATEMENT OF UNAUDITED (CONSOLIDATED) FINANCIAL RESULTS FOR THE QUARTER AND PERIOD ENDED 30 SEPTEMBER, 2019

(S in Crores)	(S in Crores)	(S in Crores)	(S in Crores)	(S in Crores)	(S in Crores)	(S in Crores)	(S in Crores)	(S in Crores)	(S in Crores)
STATEMENT OF UNAUDITED(CONSOLIDATED)FINANCIAL RESULTS FOR THE QUARTER AND PERIOD ENDED 30 SEPTEMBER,2019
	Particulars		For the Quarter ended				For the Period ended		For the Year ended
			30/09/19 (Unaudited)	30/06/19 (Unaudited)	30/09/18 (Unaudited)		30/09/19 (Unaudited)	30/09/18 (Unaudited)	31/03/19 (Audited)
I	Revenue from operations
	a)	Interest Income	519.54	492.66	445.44		1,012.20	1,102.32	2,199.72
	b)	Dividend Income	12.97	0.11	20.49		13.08	21.14	70.18
	c)	Rental Income	9.36	8.62	8.44		17.98	16.88	25.59
	d)	Fees and commission Income	50.64	50.19	46.05		100.83	96.90	31.04
	e)	Net gain on fair value changes	3.30	0.34	0.73		3.65	0.77	-
	f)	Sale of products (including Excise Duty)	2.88	3.71	3.54		6.59	7.76	14.90
	g)	Sale of services	68.85	70.86	99.70		139.71	157.79	480.03
		Total Revenue from operations	667.55	626.49	624.39		1,294.04	1,403.56	2,821.45
	h)	Other Income	41.97	23.33	308.12		65.29	332.22	313.03
	Total income		709.51	649.82	932.51		1,359.33	1,135.78	3,134.49
2	Expenses								-
	a)	Finance costs	379.06	398.96	465.91		778.02	953.90	1,802.70
	b)	Fees and commission expense	9.32	9.56	7.88		18.88	16.52	49.19
	c)	Net loss on fair value changes	196.54	48.99	82.57		245.53	100.06	132.46
	d)	Impairment on financial instruments	(44.68)	(419.58)	220.02		(464.26)	864.30	1,146.32
	e)	Cost of materials consumed	4.08	3.48	32.30		7.56	37.99	48.63
	f)	Purchases of Stock-in-trade	2.76	3.56	3.49		6.32	7.57	14.36
	g)	Employee Benefits Expenses	54.06	80.13	75.71		134.19	132.81	293.41
	h)	Depreciation and Amortization	18.53	19.55	15.92		38.09	31.60	63.46
	i)	Others expenses	81.81	100.36	78.68		182.18	140.68	277.93
	Total expenses		701.47	245.02	982.48		946.51	2,285.41	3,828.46
3	Profit/ (loss) before exceptional and tax (1-2)		8.04	404.80	(49.97)		412.82	(549.64)	(693.98)
4	Exceptional items				-			-	1.66
5	Profit/ (loss)_before_tax (3-4)		8.04	404.80	(49.97)		412.82	(549.64)	(695.64)
6	Tax expense
	a)	Income tax	(0.53)	2.63	2.74		2.10	7.72	(0.96)
	b)	Taxation for earlier years	(0.83)	-	(4.46)		(0.83)	(5.34)	(0.26)
	c)	Deferred Tax (Net)	(22.93)	408.89	(42.72)		385.96	(194.13)	(218.43)
	Tax expense (6(a) to 6(c)]		(24.29)	411.51	(44.44)		387.23	(191.74)	(219.65)
7	Profit/(loss) for the period after taxes (5-6))		32.33	(6.72)	(5.53)		25.60	(357.89)	(475.99)
8	Share of net profit of associates and joint ventures accounted _for_using the equitymethod		-	-	-		-	-	-
9	Profit/(loss)for theperiod(7+8)		32.33	(6.72)	(5.53)		25.60	(357.89)	(475.99)
	Other Comprehensive Income
	a)	Items thatwill not bereclassified to profit or loss
		-Fair value changes on FVTOCI - Equity securities	14.36	(236.89)	(32.00)		(222.53)	(100.51)	38.00
		-Gain/floss) on sale of FVTOCI-Equit~~y~~securities		(5.12)	(90.36)		(5.12)	(90.36)	~~(11~~7.7~~1)~~
		-Actuarial gain/(loss) on Defined benefit obligation	(6.70)	4.78	(1.08)		(1.93)	1.50	49.92
		Income tax relating to Items that will not be reclassified to profit or loss
		-Tax on Fair value changes on FVTOCI - Equity securities	(43.27)	55.67	27.79		12.40	25.21	32.52
		-Tax on Actuarialgain/(loss)on Defined benefit	20.83	(1.69)	(1.11)		19.13	(0.48)	(17.78)
	b)	Items that will be reclassified toprofit or loss
		-Fair value changes on FVTOCI - Debt securities	(35.01)	43.25	21.98		8.24	(21.93)	(16.17)
		-Debt securities measured at FVTOCI - reclassified to profit and loss			-				(0.35)
		- Exchange differences in translating the financial statements of a foreign operation	0.35	(0.05)			0.30	-	(0.16)
		Income tax relating to items that will be reclassified to profit or loss
		-Tax on Fair value changes on FVTOCI - Debt securities	(2.23)	0.54	17		t' - (1.69)	7.66	5.77
	Other comprehensive income/ (loss) (net of tax)		(51.68)	(139.51)	(		'..t(181.19)	(178.92)	(25.96)
11	Total comprehensive income / (loss) (after tax) (9+10)		(19.35)	(146.23)		. )	(t'j 5.59)	(536.82)	(501.96)
12	Profit for the period attributable to Equity holders of the		23.67	(9.48)		4)	Q.19	(367.93)	(488.67)
	Non-controllinginterest		8.65	2.76	1		' gx5. 911.4	y 10.03	12.68

	IFCI LTD. CIN:174899DL1993G01053677 REGD. OFFICE: IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110 WEBSITE: www.ifciltd.com	IFCI LTD. CIN:174899DL1993G01053677 REGD. OFFICE: IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110 WEBSITE: www.ifciltd.com	IFCI LTD. CIN:174899DL1993G01053677 REGD. OFFICE: IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110 WEBSITE: www.ifciltd.com	IFCI LTD. CIN:174899DL1993G01053677 REGD. OFFICE: IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110 WEBSITE: www.ifciltd.com	019	019	0vi21FCU LIMn ED adq t{Ianf f q^d PS ,m..r.ra..y	0vi21FCU LIMn ED adq t{Ianf f q^d PS ,m..r.ra..y
13	Total comprehensive income for the period attributable to Equity holders of the parent		(38.02)	(63.66)	(54.94)	(101.69)	(505.59)	(521.00)
	Non-controlling interest		18.68	(82.57)	(33.05)	(63.90)	(31.23)	19.04
14	Paid-up equity share capital (Face Value of 410/- each)		1,695.99	1,695.99	1,695.99	1,695.99	1,695.99	1,695.99
15	Other Equity (as per audited balance sheet as at 31st March)							3,660.68
16	Earnings per share (face value of T 10 each) (not annualised for the interim periods):
	(a)	Basic(S)	0.14	(0.06)	(0.07)	0.08	(2.17)	(2.88)
	(b)	Diluted (i)	0.14	(0.06)	(0.07)	0.08	(2.17)	(2.88)

([ in Crores)]

	( in Crores)	( in Crores)	( in Crores)
i •	STATEMENT OF ASSETS & UABILIT1ES CONSOLIDATED)
	Particulars	As at 30/09/19 (Unaudited)	As at 31/03/19 (Audited)
	ASSETS (1) Financial Assets (a) Cash and cash equivalents (b) Bank Balance other than (a) above (c) Derivative finandal instruments (d) Receivables (e) Loans (f) Investments Other Financial assets	1,019.12 592.60 32.64 172.46 13,135.29 4,806.42 936.38	729.25 938.95 14,66 175.14 13,713.52 5,580.09 920.58
	Sub-total-Financial Assets	20,694.91	22072.20
	(2) Non-financial Assets (a) Investment in subsidiaries (b)Investment accounted using equity method (c)Inventories (d) Current tax assets (Net) (e) Deferred tax Assets (Net) (f) Investment property (g) Property, Plant and Equipment Ih) Capital work-in-progress (I) Intangible assets under development (1) Goodwill (k) Other Intangible assets (I) Assets held for sale (m)Other non-finandal assets	- - 147.20 225.14 1,411.30 207.15 1,053.34 32.86 - 446.64 4.10 15.01 102.34	- - 155.05 208.17 1,767.82 209.58 1,040.35 1.20 0.06 446.64 4.51 57.94 78.63
	Sub-total-Non-financialAssets	3,645.07	3969.94
	Total Assets	24,339.98	26042.14
	II. LIABILITIES AND EQUITY LIABILITIES (1) Financial Liabilities (a) Trade Payables (I) total outstanding dues of micro enterprises and small enterprises (Ii)total outstanding dues of creditors other than micro PntPrnricec and small Pntprnrispc (b) Debt Securities (c)Borrowings (Other than Debt Securities) (d) Subordinated Liabilities e Other financial liabilities	1.10 217.15 8,896.99 4,420.27 1,313.30 2,793.66	23.99 229.29 9,331.96 5,748.99 1,313.30 2,610.32
	Sub-total-Financial Liabilities	17,642.46	19157.85
	(2) Non-Financial Liabilities (a) Provisions (b) Deferred tax liabi:ities (Net) (c) Other non-finandal liabilities	191.30 - 196.86	141.56 175.26
	Sub-total-FinancialLiabilities	388.16	316.82
	(3) Equity (a) Equity Share capital (b) Other E ul	1,695.99 3,485.50	1,695.99 3660.68
	Equity attributable to equityholders of the parent	5,181.49	5,356.67
	Non controlling interest	1127.86	1110.79
	Total Liabilities and E ui	24,339.98	26042.14

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IFCI LTD.

I1

CIN: L74899DL19 3GO1053677 REGD. OFFICE: IFCI TOWER 61, NEHRU PLACE, NEW DELHI -110019

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WESSITE. www.ifclltd.com

•

		Pvlodended 30/09/18 (Unaudited) (552.61) - 31.52 866.19 45.67 (143.66) (9.22) 10.04 (0.19) 0.57 (18.48) (0.11) (19.]9) 1.53 211.46 1,072.69 36.29 52.02 (14.77) 38.28 0.52 (66.85) (147.07) 1,734,77) (552.20) 2.99 78.59 427.90 (4.13) 43.85 99.08 176.35 814.63 (5.47) 266.96 (8.21) - 12.47 22.16 (0.05) 15.64 10.20) (0.01) (2.55) 39.26 (201.26) 141]9) (4.75) (7.65) (35.00) 0.11 (291.34) 14.87 605.25 620.11 %NCI Tns.,r e1, NFSyf 9 /<br>) f<br>(L.ibtc,r<br>L, ta^v<br>\<br>r0` ft In Crores)
STATEMENTOFCASH ROW[CONSOUOATE	D)
Partkubss	Period ended 3D/09/19 (Unaudited)	Pvlodended 30/09/18 (Unaudited)
A. CASH FLOW FROM OPERATING ACTIVITES Net Profit before Tax Adjustments for: Deprecktin and emorisation Impairment provision/ write offs Unrealised gain/floss) on investments Impairment on Assets held for sale Impairment on Non-financial asset (Profit)/ Loss on Sale of Astets Interest cost on preference shares Fair value gain on investments measured at FVTPL Actuarial movements reclassified to OCi Dividend received Finance Cost Interest income IM AS adjustments-others	416.71 - 37.91 1465.90) (3.10) - - (8.09) - (0.26) 1.86 (18.29) 0.45 (19.65) 0.92	(552.61) - 31.52 866.19 45.67 (143.66) (9.22) 10.04 (0.19) 0.57 (18.48) (0.11) (19.]9) 1.53
Operating Profit before Working Capital Changes & Operating AWettks	(5136)	211.46
Adjustments for Operating Activities: (Increase)/ decrease in Investments Ilncreesel/ decrease In Inventory hncrease(/ decrease in Loans & Advances (Increase)/ decrease In Derivative Financial Instruments Increase/ (decrease) in Trade Payablee Increase/(decrease) in Subordinated Liabilities (Increase)/ decrease In Receivables Increase/ (decrease) In Debt Securities Increase/ (decrease) in Borrowings	531.03 7.85 1,258.12 (17.98) (28.78) - 18.74 (435.02) (1,329.52)	1,072.69 36.29 52.02 (14.77) 38.28 0.52 (66.85) (147.07) 1,734,77)
Operating Profit before Working Capital Changes	(52.96)	(552.20)
Adjustments for: (Increasel/ decrease in Other imandal Assets Increase/ (decrease) in Other Non-ffnanciel Asset Increase/ (decrease) In Other Financial Liability Increase/ (decrease) In Other Non-financial LI.biRt, Increase/ (decrease) In Provision Increase/ (decrease) In other bank balances Increase/ decrease) in assets held for sale	(7.03) 61.12 160.51 (D.12) 112.61 17,03 30.45	2.99 78.59 427.90 (4.13) 43.85 99.08 176.35
Cash Flow before taxation -	314.58	814.63
Income Tax(paid)/ refund - Net	(22.65)	(5.47)
Net cash flow from Operatimtg Operating ARWities	298.96	266.96
B. CASH FLOW FROM INVESTING ACTIVITIES Purchase off Advance for property, plant and equipments (including Leased property) Investment In subsidiaries Proceeds from sale of investment property Sale of Investment In associates and Joint ventures Purchase of/ Advance for Intangible Asset Proceeds from sale of property, plant and equipments (Including leased property) Profit on sake of Investments Dividend received Interest receNed	(31.23) - (29.34) 31.55 0.26 24.84 (0.35) (O.W) (0.96)	(8.21) - 12.47 22.16 (0.05) 15.64 10.20) (0.01) (2.55)
Net cash flow fromInvestingActivities	(5.23)	39.26
C. CASH FLOW FROM FINANCING ACTIVITIES Redemption of Preference Shares Issue of Equity Shares Share Premium (net of expenses) Dividend paid Repayment of Non Convetible Bond Finance Cost	0.85 (3.02) (1.82) - 0.10	(201.26) 141]9) (4.75) (7.65) (35.00) 0.11
Net each flow from Financing Activities	(3.89)	(291.34)
Net Increase/ (Decrease) In Cash and Cash Equivalent Flow ACBK	289.66	14.87
Opening Cash and Cash Equivalent ClosingCash and Cash E uivalent	729,25 1,019.12	605.25 620.11

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IFCI LTD. ON: L74899DL1993 6 01053677 REGD. OFFICE: IFCI TOWER 61, NEHRU PLACE, NEW DELHI-110019 WEBSITE: www.ifdlld.com

Notes:

• 1 The above financial results were reviewed by the Audit[Committee at the meeting held on 13th November 2019 and approved by the Board of Directo][ rs][ at the meeting held on 13th November 2019.] These results have been subjected to limited review by M/s M.K. Aggarwal & Co, Chartered Accountants. However, since the Conso:dated financial results of the Company are being submitted pursuant to the mandatory requirement with effect from April 1, 2019, the consolidated figures for the comparative periods for the quarter ended 30th September 2018 and the period ended 30th September 2018, as reported in these financial results, have not been subjected to limited review.

• 2 The loan account of one of the borrower has been restructured as per the scheme approved by the conso[rt][ium of ][le][nders. As per the scheme of restructuring, a po][rt][ion of overall debt IIFCI ][share -] Rs.235.61 crore) alongwith identified portfolio of real estate assets, Is to be transferred to an Special Purpose Vehicle SPV) which will Issue 9.5% Optionally Conve[rt] ible Debenture (OCDs) in lieu of the debt and the proceeds from the real estate po rtfolio will be utilized towards se rvicing of these OCDS. However, pending approval of the dernerger[plan from National Company Law Tribunal] (NCLT), the process of t ra nsfer of debt and real estate assets to the Sp[y] is not yet completed. The Company has classi[fie] d the entire outstanding of Rs.367.19 c[ro][re as Stage-3 asset and Impairment] allowance for ECL has been applied accordingly. The debt of the SPV Is backed by re al estate assets having sufficient security cover and accordingly, p[ro][vision has been made by the Company.]

• 3 IFCI u carrying the Investment in subsidiary companies at cost net of impairment loss (if any) and opted for one time exemption under IndA5101 for deemed cost being the carrying value of Investment as at transition date i.e. April 1, 2017. As on September 30, 2019, the Company had Investment In 27,41,54,700 no. of shares In Its subsidia ry, IFCI Fa[ct] o[rs ] Ltd. (IFL), comprising of 19,91,54,700 no. of equity shares and 7,50,00,000 no. compulsorily convertible preference shares ICCPS). The company got the shares of IFL fair valued by an external expe[rt][ valuer, registered as] Category-I merchant banker, per which, the fair value of Investments In s ha res of IFL was determined at Rs.159.83 crore using the generally accepted valuation methodologies against breakup value. In line with Indian Accounting Standards and accordingly, the resu lt ant impairment loss has been charged in the books of account.

• 4 For the purpose of computation of Loss Given Default (16 0), till March 31, 2019, the company considered the recovery rate of accounts which got closed prior to the repo[rt][ing date or continued to] remain In books as non-performing accounts for 3 years or more as on the reporting date out of the accounts slipped to non-pe rforming category during the period seven year preceding the reporting date. Based on the analysis of recove ry from NPAS In past 10 years, it was obse[rv] ed that present value of recovery in 5 yea[rs] post NPA date, corut[it][uted 98.64 % of present value of total] recovery till repo rting date, Hence as a refinement of management estimate, 5 yea rs[ has been taken as deemed per][io][d of c][lo][sure for ][LCD ca][lculat][io][n, for the quarter ended June 30, 2019 onwards.]

• 5 In the context of reporting business/geographical segment as required by Ind AS 108- "Operating Segments ', the Company operataions comprise of only one business segment of [financing . ][Hence,] there Is no reportable segment as per Ind AS 308.

Stockholding Corporation of India Ltd. (SHOE) had during the year 200003 undertaken a transaction of! 24.45 crone with a client th[ro][ugh the Calcutta Stock Exchange (CSE) under the 'Cash on] Payout' scheme for the sale of 7,20,000 equity shares of DSQ Industries Limited. The said transa[ctio][n was confirmed by CSE based on which postdated cheques were Issued. The cheques were] stopped for payment before their due data[by the Company as the underlying trade transaction was contended to be non-bonafde and dlsalowed by CSE. A Bank, which had granted financial] assistance against the said cheques, Issued a notice of demand against the Company under Se ction 138 of the Negotiable Instrument Act, 1881. The Bank also filed an applica[ti][on in the Debt] Recovery Tribunal fORT) for recovery of the amount alongwith compound Interest from the Company and the dlent. The Company disputed the claim of the Bank. The Bank's appli[ca][tion to the DRT] was dismissed and only the client was held liable. The Bank and the cl ie nt had filed an appeal in the Debt Recovery Appellate Tribunal (DRAT) against the [order of ][OFT. The appeals were allowed vide] the DRAT order dated September 23, 2011, which stated that the amount would car ry compound Interest from 1st August 20010 19% p.a. with quz rterl[y rests till realisation and the Bank was] entitled to realize the sum from both the client and the Company. The Company fire d a Revision Appl[i] cation in High Cou[rt][, Ca][lc] u[tt] a[on November 30, 2011 which was admi][tt][ed but no Interim rel][ ie][f] was granted. Hen ce , the Company filed a Special Leave Petition (SLP) In the Supreme Cou rt for stay of the High Cou rt Order for not granting Interim relief of staying the ORAT order, the Order of the DRAT and the recovery certificate and notice of demand issued by Presiding Officer and recovery officer of DRT respectively. The Supreme Court vide Its order dated April 23, 2012 granted stay on the recovery proceedings and requested the Calcutta High Court to dispose off the, Revision Appli ca tion within a pe riod of four months and the Company to deposit 130.00 crore with the Calcu[tt][a] High Court Registry within a period of 4 weeks from the date of order by way of a short term deposit In a nationalised bank. Accordingly, the Company had deposited the money with the Calcutta High Court, Registry. The Revision appl ication was dismissed. The Company filed Spec ial Leave Petition (SIP) in the Supreme Court in May 2015. The Supreme Court[vi][de][Its order dated May 14,] 2015 stayed the opera tion of the execution proceedings and the Company to deposit with the Regist[ra] r, Supreme Cou[rt][ of India, a f] [ix][ed deposit receipt in the name of the Company and endorsed in] favour of the Registrar an amount of not less than [ 30.00 cram. Accordingly, the Company made the deposit. The amount of R 60.00 c rore, deposited by the Company in the High Court (e 30.00 crore ) and Supreme Court ([30.00 c rorel is shown under the heading 'Long Term Loans and Advances' under the sub heading "Security [and ][other deposits In the Statement of Balance Sheet as on] March 31, 2019. The bank was granted libe rty to withdraw T 30.00 crore along with Interest that had been lying as deposit before the High Court of solkate which Is subje ct to final decision In the SIP. Accordingly, an amount of! 38.04 crone was re le[ased to the Bank. Further by an order dated October 12, 2015, the Supreme Cou][rt][ directed the bank to withdraw an additional amount ] [of!] 15.00 crore along with accrued Interest from the money deposited with the Supreme Cou rt. Accord ingly, an amount of! 15.45[crone was released to the Bank. The case has been converted from] Special Leave petition to a Civil Appeal by the Hon'ble Supreme Cou rt .

The amounts released to the Bank Is subject to the final decision In the ma tter. In view of the nature of dispute, the amount of contingent liability has not been ascertained. Pending final adjudication of the ma tt er by the Honourable Supreme Court and also In view of the legal opinion obtained by SHOL,in the opinion of SHOE management no provision is requi[re][d to be made In the] statement of Profit and Loss for the pe riod ending September 2019.

• 7 In case of Stock Holding Documents Management Services ltd ( a step down subsidiary of SH[IL), a fire Incident has caused loss to the said company. The Company has continued to carry the corresponding fixed assets of galvanized containers 193400 nos) at their WDV of Rs 364.04 Laths as on September 30, 2019 on a going con[ce] rn basis, due to diff[ic][ulty In removal of said assets ] [from] the robotic slots as the robotic retrieval Is not operational and manual retrieval of the containe[rs][ 1s fraught with risk. The company has been receiving c][la][ims for loss of documents ] [from ][its cl][ie][nts.] Majority of the clients have compele ted audit while others are in various stages of conducting audit th rough their audito[rs] to assess damage to their documents for the final claims. Pending ascertainment of actual claim, the company has not provided/disclosed for such claims / contingent liabil[it][y and corresponding Insurance claims receivable In the books of accounts as on September] 3D, 2019. However, Rs 5.15 lakhs have been settled with 5 clients and same has been shown as expense under exceptional Items.

• B In case of Stock H olding Corporation of India Ltd (SHCIL), there was a certain un re conciled items amounting to as 3.50 crone grouped in trade[receivable ][as at March 31, 2019. This includes] fra udulent payments of As 2.9 c rone (net of recovery) made by the one of the employee of the said company to the non - c[lients from clients bank accounts. The said company has suspended the said] employee and filed an FIR with the po'ke.The company has also appointed an outside agen cy to prepare the bank reconciliation of the said bank accounts fro m[2014 to date. Recondfbtion entries] have been passed on receipt of revised bank reconciliation statement In the financial statements. The company has appointed a forensic auditor to conduct the detailed analysis of fraud and finallsatlon of said forens ic audit repo rt In under process. Based on their draft report and discussion with forensic auditor, the management is of the view, that there would be no material financial impact of the same on the financial results. The company has lodged an insurance claim w[it][h][the Insu][ re][r In said ma][tt][er.]

• 9 On all the secured bonds and debentures issued by the Company and outstanding as on 30th September 2019, 100% security cover has been maintained against principal and Interest, [by way of] floating charge on receivables of the Company and/or Government[Securities ][owned by the Company.]

• 10 The figures for the previous quarter/period have been regrouped / rearranged[wherever necessary to conform to the current period presentation.]

Place: New Delhi

Date: 13 November 2039

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By Order of the Board
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• Tele : 011-47517171, 27355151 M. 9899997699, 9810064176 Email : atul@mkac.in Website : www.mkac.in

. 30, rlishant KunJ, Pitam Pura, New Delhi-110034E

CHARTERED ACCOUNTANTS (EST. 1973)

M.K. AGGARWAL & CO.

Independent Auditor's Review Report on Unaudited Standalone Financial Results

of IFCI Limited for the Quarter and Half Year ended September 30, 2019, pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended

Review Report to,

The Board of Directors

IFCI Limited

1. We have reviewed the accomp an[ying statement of unaudited st][an][dalone fin][an][cial] results of IFCI Limited (`The Company') for the quarter and[half year ended]

• September 30, 2019 ( the "statement") a [tt][ached herewith, being submitted by the] company pursu an t to the requirements of Regulation 33 of the SEBI (Listing Obligations and[Disclosure Requirements) Regulations, 2015, as amended.]

1. This statement, which is the responsibi[li][ty of the Comp][an][y's Management ][an][d][has] been approved by the Board of Directors, of the Comp any, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting standards ('Id AS 34') " Inte[ri] m Financial Repo[rt][ing", p][re][scribed under] section 133 of the Companies Act, 2013, as amended read with relevant rules issued thereunder, as applicable and[other accounting principles generally accepted in India. Our] responsibility is to express a conclusion on the Statement based on our review.

3.[We conducted our review in accordance with the St][an][dard on Review Engagement] (SRE) 2410, "Review of Interim Financial Information performed by the

• Independent Auditor of the Entity", issued by the Institute of Cha[rt][ered] Accountants of India. This standard re[quires that we plan and perform the review] to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inqui[ri][es of company] personnel and analytical procedures applied to fin[an][cial data and thus provides less] assurance than an audit. We have not performed[an ][audit and accordingly, we do] not express an audit opinion.

1. Based on our review conducted as above, nothing has come to our a [tt][ention that] causes us to believe that the accomp an[ying statement of unaudited interim financial] results together with the notes there on pre[pared in accordance with applicable] Indian Accounting Stan[dards specified under the Companies Act, 1956 (which are] deemed to be applicable as per section 133 of the Companies Act, 2013 read with rules issued there under and other reco ' accounting practices and policies, has

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not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and[Disclosure Requirements) regulations, 2015,] including the manner which it is to be disclosed, or that it contains[an][y][material] misstatement.

For M K Aggarwal & Co. Chartered Accountants

Firm Registration No: 00141 [1N]

•

CA Atul Aggarwal Partner

Membership No. 099374 WIN.[19a9q3'^-4RAAAD13933]

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Place: New Delhi Date: November 13, 2019

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VA

M.K. AGGARWAL & CO. CHARTERED ACCOUNTANTS

(EST. 1973)

30, Nishant Kunj, Pitam Pura, New Delhi-110034

Tele : 011-47517171,27355151 M.: 9899997699, 9810064176 Email : atul@mkac.in Website : www.mkac.in

Independent Auditor's Review Report on Unaudited Consolidated Financial Results of the Company for the Quarter and Half Year ended September 30, 2019, pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended

Review Report to,

The Board of Directors

•

IFCI Limited

1. We have reviewed the accomp an ying Statement of Consolidated Unaudited Financial Results of IFCI LTD ("the Parent") and its subsidia ri es (the Parent and its subsidia ri es together referred to as "the Group"),[an] [d][its share of the net] profit/ (loss) after tax and total comprehensive income/loss for the quarter and half year ended 30th September 2019 (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. Attention is drawn to the fact that the consolidated figures for the corresponding quarter and half year ended 30th September 2018, as reported in these financial results have been approved by the Parent's Board of Directors, but have not been subjected to review.

2. 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 standards (`Ind AS 34') "Interim Financial Reporting", prescribed under section 133 of the Companies Act, 2013, as amended read with relevant rules issued thereunder, as applicable and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. 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 inqui ri es, prima ri ly of pe o. ible for financial and accounting matters, and applying analytical i n eview procedures. A review is

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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.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

4. The consolidated financial results includes the results of the following entities:

S.No.	Name of the Entity	Relationship
1.	IFQLimited	Parent Company
2.	IFQFinancial Services Ltd.(IFIl'	Subsidiaries
3.	IFQ Venture Capital Funds Ltd. (IVCF	Subsidiaries
4.	IFQ Infrastructure Development Ltd. (IIDL)	Subsidiaries
5.	IFQFactors Ltd.(IFL)	Subsidiaries
6.	MPCON Ltd.	Subsidiaries
7.	Stock HoldingCorporation of India Ltd.	Subsidiaries

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on consideration of the review reports of other auditors referred to in paragraph 6 below nothing has come to our attention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with the Indian Accounting Standards as specified u/s 133 of the Companies Act, 2013, as amended read with relevant rules issued there under 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, including the manner which it is to be disclosed, or that it contains any material misstatement

2. 21[The consolidated unaudited financial results includes the financial results of 6] subsidiaries which have been reviewed by their auditors, whose interim results reflect total assets of Rs 5,282.65 crores as at 30[th] September, 2019, total revenues of Rs 172.54 crores & Rs. 333.13 crores; total net profit/ (loss) after tax of Rs 23.64 crore & Rs. 27.28 crore; total comprehensive income/ (loss) of Rs 44.73 crore & Rs. (132.71) crore for the quarter ending 30[th] September, 2019 and for the period from April 01, 2019 to September 30, 2019, resplvely, and cash flows (net) of Rs

114-

0

0

289.86 crores for the period from April 01, 2019 to September 30, 2019,[as] considered in the conso lidated unaudited financial results.

According to the information and explanations given to us by the m[an][agement,] these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matters.

For M K Aggarwal & Co.

Chartered Accountants Firm Registration No: 00141 1N

CA Atul ggar r Pa rt ner Membership No. 099374 AAA ^ UDIN: 190993^4f^ 5 ^6 1 k

Place: New Delhi Date: November 13, 2019

—I

Long Term(Bonds/NCDs/Term Loans)
Ratings by	30-Sep-19
ICRA	[ICRA] BBB w.e.f 28/06/2019
CARE	CARE BBB- w.e.f 01 /07/2019
Brickwork	BWR BBB+ w.e.f 01/07/2019
Short Term (Commercial Paper/Short term borrowings)
Ratings by	30-Sep-19
ICRA	[ICRA] A3+ w.e.f 28/06/2019
CARE	-
Brickwork	B WR A2+ w.e.f. 01/07/2019
For Structured Secured NCD
Ratings by	30-Sep-19
Brickwork	B WR A+ (SO) w.e.f 01/07/2019
CARE	CARE BBB+ (SO) w.e.f 01/07/2019
Subordinate Bonds
Ratings by	30-Sep-19
CARE	CARE BBB- w.e.f 01 /07/2019

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• [16-]

	Schedule ofpay	Schedule ofpay	mentofP	rincipal I	nterest	as onSep	tember 30 2	019
S No.	Series	ISIN	Interest payment	Previous due date for payment of interest	Paid or unpaid	Next due date for payment of interest	Previous due date for payment of principal	Next due date for payment of principal	Debenture Trustee
1	Tranche I- Series I	INE039AO7751	Annual	01-12-18	Paid	01-12-19	Not Due	01-12-19	Axis Trustee Services Ltd
2	Tranche I-Series II	INE039AO7769	Cumulative	N.A.	Not Due	On Maturity Date	Not Due	01-12-19	Axis Trustee Services Ltd
3	Tranche I-Series III	INE039AO7777	Monthly	01-09-19	Paid	01-10-19	Not Due	01-12-19	Axis Trustee Services Ltd
4	Tranche I-Series IV	INE039AO7785	Annual	01-12-18	Paid	01-12-19	Not Due	01-12-21	Axis Trustee Services Ltd
5	Tranche I-Series V	INE039AO7793	Cumulative	N.A.	Not Due	On Maturity Date	Not Due	01-12-21	Axis Trustee Services Ltd
6	Tranche I-Series VI	INE039AO7801	Annual	01-12-18	Paid	01-12-19	Not Due	01-12-24	Axis Trustee Services Ltd
7	Tranche I-Series VII	INE039AO7819	Cumulative	N.A.	Not Due	On Maturity Date	Not Due	01-12-24	Axis Trustee Services Ltd
8	Tranche II- Series I	INE039AO7827	Annual	13-02-19	Paid	13-02-20	Not Due	13-02-20	Axis Trustee Services Ltd
9	Tranche II-Series II	INE039AO783S	Cumulative	N.A.	Not Due	On Maturity Date	Not Due	13-02-20	Axis Trustee Services Ltd
10	Tranche II-Series III	INE039AO7843	Annual	13-02-19	Paid	13-02-20	Not Due	13-02-25	Axis Trustee Services Ltd
11	Tranche II-Series IV	INE039AO7850	Cumulative	N.A.	Not Due	On Maturity Date	Not Due	13-02-25	Axis Trustee Services Ltd
12	IFCI Tax Free Bond	INE039AO9PT1	Annual	31-03-19	Paid	31-03-20	Not due	31-03-24	Axis Trustee Services Ltd 4s
13	IFCI Tax Free Bond	INE039AO9PU9	Annual	31-03-19	Paid	31-03-20	Not due	31-03-29	Axis Trustee Services Ltd	tl

— 1a

		Schedule ofpaymentofPr	Schedule ofpaymentofPr	incipal Interest as	incipal Interest as	onSeptember 30,2019	onSeptember 30,2019
S.No	Series	ISIN	Interest payment	Previous due date for payment of interest	Paid or unpaid	Next due date for payment of interest	Previous due date for payment of principal	Next due date for payment of principal	Debenture Trustee
1	53R	INE039AO9112	HY Intt	30-05-19	Paid	-	Not due	Redeemed	Axis Trustee Services Ltd
2	54R	INE039AO9120	HY Intt	19-09-19	Paid	-	Not due	Redeemed	Axis Trustee Services Ltd
3	55R	INE039AO9138	HY Intt	26-06-19	Paid	26-12-19	Not due	26-12-19	Axis Trustee Services Ltd
4	56R	INE039AO9146	HY Intt	26-06-19	Paid	26-12-19	Not due	26-06-20	Axis Trustee Services Ltd
5	57R	INE039AO9153	HY Intl	24-06-19	Paid	24-12-19	Not due	24-09-20	Axis Trustee Services Ltd
6	58R	INE039AO9161	HY Intl	26-06-19	Paid	26-12-19	Not due	26-12-20	Axis Trustee Services Ltd
7	59R	INE039AO9179	HY Intl	19-08-19	Paid	19-02-20	Not due	19-08-21	Axis Trustee Services Ltd
8	60R	INE039AO9187	HY Intl	13-07-19	Paid	13-01-20	Not due	13-01-22	Axis Trustee Services Ltd
9	61R	INE039AO9195	HY Intl	03-09-19	Paid	03-03-20	Not due	03-03-22	Axis Trustee Services Ltd
10	48	INE039A09LG7	Annual	05-03-19	Paid	05-03-20	Not due	05-03-25	Axis Trustee Services Ltd
11	49	INE039AO9LK9	Annual	13-04-19	Paid	13-04-20	Not due	13-04-25	Axis Trustee Services Ltd
12	52	INE039A09L52- M66	Cumulative	N.A.	Not due	On Maturity Date	Not due	07-07-31	Axis Trustee Services Ltd
13	53	INE039AO9MC4	Annual	13-07-19	Paid	13-07-20	Not due	'	Axis Trustee ervices Ltd

~~*~~[^] I'G Tower ^ 61, tic ^

n, v 9 1/4 99 ♦ cF`

S.No	Series	ISIN	Interest payment	Previous due date for payment of interest	Paid or unpaid	Next due date for payment of interest	Previous due date for payment of principal	Next due date for payment of principal	Debenture Trustee
14	54	INE039AO9MD2	Annual	16-07-19	Paid	16-07-20	Not due	16-07-30	Axis Trustee Services Ltd
15	55	INE039AO9MN1	Annual	29-10-18	Paid	29-10-19	Not due	29-10-30	AxisTrustee Services Ltd
16	SUB II	INE039AO9NP4	Annual	25-08-19	Paid	25-08-20	Not due	25-08-21	Axis Trustee Services Ltd
17	56(Opt-I)	INE039AO9OZ1	Annual	26-06-19	Paid	26-06-20	Not due	26-06-22	Axis Trustee Services Ltd
18	56(Opt-II)	INE039AO9PA1	Annual	26-06-19	Paid	26-06-20	Not due	26-06-22	Axis Trustee Services Ltd
19	57-B	INE039AO9PE3	Annual	28-09-19	Paid	28-09-20	Not due	28-09-22	Axis Trustee Services Ltd
20	57-C-(Opt-I)	INE039AO9PFO	Annual	08-10-18	Paid	08-10-19	Not due	08-10-22	Axis Trustee Services Ltd
21	57-C(Opt-II)	INE039A09PI4	Annual	08-10-18	Paid	08-10-19	Not due	08-10-27	Axis Trustee Services Ltd
22	57-D	INE039A09PJ2	Annual	08-10-18	Paid	08-10-19	Not due	08-10-27	Axis Trustee Services Ltd
23	57-E	INE039AO9PKO	Annual	15-10-18	Paid	15-10-19	Not due	15-10-27	Axis Trustee Services Ltd
24	58-A	INE039AO9PM6	Annual	05-11-18	Paid	05-11-19	Not due	05-11-22	Axis Trustee Services Ltd
25	58-B	INE039AO9PN4	Annual	05-11-18	Paid	05-11-19	Not due	05-11-27	AxisTrustee Services Ltd
26	58-C	INE039A09PO2	Annual	05-11-18	Paid	05-11-19	Not due	05- s ^ u	AxisTrustee ervices Ltd
								et ,o	2/4

—/9—

	S.No	Series	ISIN	Interest payment	Previous due date for payment of interest	Paid or unpaid	Next due date for payment of i nterest	Previous due date for payment of principal	Next due date for payment of principal	Debenture Trustee
	27	58-D	INE039AO9PP9	Annual	05-11-18	Paid	05-11-19	Not due	05-11-37	Axis Trustee Services Ltd
	28	59	INE039AO9PQ7	Annual	11-01-19	Paid	11-01-20	Not due	11-01-21	Axis Trustee Services Ltd
	29	60 (OP I)	INE039AO9PR5	Annual	26-04-19	Paid	26-04-20	Not due	26-04-28	Axis Trustee Services Ltd
	30	60 (OP II)	INE039A09PS3	Annual	26-04-19	Paid	26-04-20	Not due	26-04-28	Axis Trustee Services Ltd
	31	INFRA I	INE039AO8114	Annual	15-09-19	Paid	15-09-20	Not due	15-09-20	Axis Trustee Services Ltd
	32	INFRA I	INE039AO8122	Cumulative	N.A.	Not due	On Maturity Date	Not due	15-09-20	Axis Trustee Services Ltd
	33	INFRA I	INE039AO8130	Annual	15-09-19	Paid	15-09-20	Not due	15-09-20	Axis Trustee Services Ltd
	34	INFRA I	INE039AO8148	Cumulative	N.A.	Not due	On Maturity Date	Not due	15-09-20	Axis Trustee Services Ltd
	35	INFRA II	INE039A09MT8	Annual	31-01-19	Paid	31-01-20	Not due	31-01-21	Axis Trustee Services Ltd
	36	INFRA II	INE039A09MU6	Cumulative	N.A.	Not due	On Maturity Date	Not due	31-01-21	Axis Trustee Services Ltd
	37	INFRA II	INE039AO9MV4	Annual	31-01-19	Paid	31-01-20	Not due	31-01-21	Axis Trustee Services Ltd
	38	INFRA II	INE039AO9MW2	Cumulative	N.A.	Not due	On Maturity Date	Not due	31-01-21	Axis Trustee Services Ltd
	39	SUB I	INE039A09NJ7	Annual	01-08-19	Paid	01-08-20	Not due	O1	F s Trustee es Ltd

**S.No **	Series	ISIN	Interest payment	Previous duedate for payment of interest	Paid or unpaid	Next due date for payment of interest	Previousdue datefor payment of principal	Next due date for payment of principal	Debenture Trustee
40	SUB I	INE039AO9NK5	Cumulative	N.A.	Not due	On Maturity Date	Not due	01-08-21	Axis Trustee Services Ltd
41	SUB I	INE039AO9NL3	Annual	01-08-19	Paid	01-08-20	Not due	01-08-26	Axis Trustee Services Ltd
42	SUB I	INE039AO9NM1	Cumulative	N.A.	Not due	On Maturity Date	Not due	01-08-26	'xis Trustee Services Ltd
43	SUB III	INE039AO9NT6	Cumulative	N.A.	Not due	On Maturity Date	Not due	31-10-21	Axis Trustee Services Ltd
44	SUB III	INE039AO9NU4	Annual	31-10-18	Paid	31-10-19	Not due	31-10-21	Axis Trustee Services Ltd
45	SUB III	INE039AO9NV2	Annual	31-10-18	Paid	31-10-19	Not due	31-10-21	Axis Trustee Services Ltd
46	SUB III	INE039AO9NWO	Annual	31-10-18	Paid	31-10-19	Not due	31-10-26	Axis Trustee Services Ltd
47	SUB IV	INE039A09OL1	Annual	28-02-19	Paid	28-02-20	Not due	28-02-22	Axis Trustee Services Ltd
48	SUB IV	INE039A090M9	Annual	28-02-19	Paid	28-02-20	Not due	28-02-27	Axis Trustee Services Ltd
49	SUB V(A)/V(B)	INE039AO9PD5	Annual	18-09-19	Paid	18-09-20	Not due	18-09-37	his Trustee Services Ltd
50	Sub V©	INE039A09PH6	Annual	05-10-18	Paid	05-10-19	Not due	05-10-37	Axis Trustee Services Ltd
51	Sub V (D)	INE039AO9PL8	Annual	15-10-18	Paid	15-10-19	Not due	15-10-32	Axis Trustee Services Ltd
52	61	INE039AO7868	MY Intt	03-05-19	Paid	03-11-19	Not due	03-11-21	Axis Trustee Services Ltd

4/4

LI-

S.No	Series	ISIN	Interest payment	Previous due date for payment of interest	Paid or unpaid	Next due date for payment of interest	Previous due date for payment of principal	Nextdue date for payment of principal	Debenture Trustee
53	INFRA III- Op I	INE039AO9NX8	Cumulative	Not due	Not due	On Maturity Date	Not due	12-12-21	IDBI Trusteeship Services Ltd
54	INFRA III- Op II	INE039AO9NY6	Annual	12-12-18	Paid	12-12-19	Not due	12-12-21	IDBI Trusteeship Services Ltd
55	INFRA III- Op III	INE039A09NZ3	Cumulative	Not due	Not due	On Maturity Date	Not due	12-12-26	IDBI Trusteeship Services Ltd
56	INFRA III- Op IV	INE039AO9OA4	Annual	12-12-18	Paid	12-12-19	Not due	12-12-26	IDBI Trusteeship Services Ltd
57	INFRA IV- Op I	INE039A09OE6	Cumulative	Not due	Not due	On Maturity Date	Not due	15-02-22	IDBI Trusteeship Services Ltd
58	INFRA IV- Op II	INE039A090F3	Annual	15-02-19	Paid	15-02-20	Not due	15-02-22	IDBI Trusteeship Services Ltd
59	INFRA IV- Op III	INE039A09OG1	Cumulative	Not due	Not due	On Maturity Date	Not due	15-02-27	IDBI Trusteeship Services Ltd
60	INFRA IV- Op IV	INE039A090H9	Annual	15-02-19	Paid	15-02-20	Not due	15-02-27	IDBI Trusteeship Services Ltd
61	INFRA V- Op I	INE039A09OU2	Cumulative	Not due	Not due	On Maturity Date	Not due	31-0 -	IDBI Trusteeship ices Ltd

Br+a, ^.is c 1/2

Z2

S.No	Series	ISIN	Interest payment	Previous due datefor payment of interest	Paid or unpaid	Next due datefor payment of interest	Previous due datefor payment of principal	Nextdue date for payment of principal	Debenture Trustee
62	INFRA V- Op II	INE039AO9OVO	Annual	31-03-19	Paid	31-03-20	Not due	31-03-24	IDBI Trusteeship Services Ltd
63	INFRA V- Op III	INE039A09OW8	Cumulative	Not due	Not due	On Maturity Date	Not due	31-03-27	IDBI Trusteeship Services Ltd
64	INFRA V- Op IV	INE039A09OX6	Annual	31-03-19	Paid	31-03-20	Not due	31-03-27	IDBI Trusteeship Services Ltd
65	47	INE039AO9LC6	Annual	25-01-19	Paid	25-01-20	Not due	25-01-25	Centbank Financial Services Ltd
66	50	INE039AO9LL7	Annual	04-05-19	Paid	04-05-20	Not due	04-05-30	Centbank Financial Services Ltd
67	51	INE039A09LM5	Annual	18-05-19	Paid	18-05-20	Not due	18-05-30	Centbank Financial Services Ltd

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23

AXIS TRUSTEE

ATSL/ DEL/2019 -20/ 14$50 November 18, 2019

ii

IFCI Limited IFCI Tower, 61 Nehru Place, New Delhi 110019

Dear Sir/Madam,

This has reference to the Privately Placed Secured Redeemable Non- Convertible Debentures issued by IFCI Limited ("Company") and listed on the Bombay Stock Exchange (BSE Li mited) ( "Listed Debt Securities").

Pursuant to Regulation 52(4) read with Regulation 52 (5) of the SERI (Listing Ot and Disclosure Requirements) 2015, the Company is required to submit its half yearly/an results to the Stock Exchange, with a letter of the Debenture Trustee (Axis Tru Services Li mited) that the Debenture Trustee has noted the contents furnished by the Car y as per Regulation 52(4).

In pursuance thereof, we hereby confirm that we have received the said aforesaid along with the : relevant/necessary supporting and we have noted the contents in re of the Listed Debt Securities issued by the Company.

Further, please note that we have not independently verified the contents and the oforesoid noting is subject to the following:

1. The Debenture Trustee is relying on the information/ status as submitted by it for the purpose of submission to the Stock Exchange; without reconfirming; &

2. Any commitment pertaining to the Interest/ Principal payable on the ful clue dates are sole commitment on the Company's part and Trustee is not liable in jmanner if Company fails to fulfil/does not fulfil its commitment.

Thanking You,

Yours Faithfully For Axis Trustee Services Limited

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ii
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•ha) iI Manager

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li
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Axis Trustee Services Limited

(A wholly owned subsidiary of Axis Bank Limited) j y

Corporate Identity Number. U74999MH2008PLC182264 I MSME registered VAN: MH19E0033585 Registered Office: Axis House, Wadia International Centre, Pandurang Budhkar Marg, Worti, Murnbai -:400 025 Corporate Office: The Ruby I 2nd Floor I SW 1 29 Senapati Bapal Marg I Dadar West I Mumbai —t$b 028 Tel No: 022-62300451 Website: www.axistrustee.com ! ~~j~~ ; i,

I^I Centbank Financial Se rv ices Limited Wholly owned subsidia ry of Central Bank of India

CENTFIN:2019:334

18 November 2019

CERTIFICATE FOR RECEIPT AND NOTING OF INFORMATION

(Pursuant to Regulation 52( 5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20151

We, Debenture Trustees for non-conve rt ible debt securities issued by IFCI LTD ('company') for the following series:

Series	Total Amount T in Cr	ISIN
47	200	INE 039 A 09LC6
50	250	INE 039 A 09LL7
51	250	INE 039 A 09LM5

hereby confirm that we have received and noted the information (except the DRR, Netwo rt h, Debt Equity Ratio- Ce rt ificate, from the Auditors for the stated ratios is still awaited) furnished to us by the said issuer company (viz. IFCI Limited vide their letter #IFCI/CS/2018-934 dated December 11, 2018), as specified under regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 ('Regulations') for the Half year ended 30 September 2019.

This Ce rt ificate is being issued pursuant to the requirements of regulation 52(5) of the aforesaid Regulations, for onward submission to Stock Exchange(s) by the Company.

For CENTBANK F1NANCIA SERVICES LTD

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^l
1•
I MLMBAI II
Yash A Wag [] aRe Q
MAMA
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CENTBANK FINANCIAL SERVICES LIMITED

(Formerly. Centbank Financial & Custodial Services Ltd, erstwhile:[The Cen][tr][al Bank Executor & Trustee Co. Ltd.)] Regd. Office : Central Bank of India - MMO bldg, 3`" Floor, (East Wing) 55, Mahatma Gandhi Road, Fo rt, Mumbai 400001. : (022) 2261 6217 8 (022) 2261 6208 E-mail: info@cfsl.in Website: www.cfsl.in CIN: U6711OMH1929GO1001484

-25-

IDBI Trusteeship Se rv ices Ltd CIN : U65991MH2001GO1131154

No. 9564 /ITSL/OPR/2019-20 November 19. 2019

To, IFC1 Limited, 1FCl Tower. 61 Nehru Place, New Delhi 110019

Dear Sir,

Sub: Letter from Debenture Trustee pursuant to Regulation 52 (5) of the Stall (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEI3I LODR 2015) for half sear ended September 30, 2019

This has reference to the privately placed Unsecured/Secured. Non-Conve rt ible Debentures issued by IFCI Limited, ("Issuer") wherein IDBI Trusteeship Ser vices limited is acting as the Debenture Trustee and listed on the National Stock Exchange of India Ltd. (NSE) and/or Bombay Stock Exchange (13SE) ("Listed Debt Secu ri ties").

Pursuant to Regulation 52(4) read with Regulation 52 (5) of the SEBI (Listing Obligations and Disclosure Requirements) 2015, the Issuer is required to submit the documents required there along with its half yearly/annual financial results to the Stock Exchange. with a letter of the Debenture Trustee (ID)3I Trusteeship Se rv ices Limited) that the Debenture Trustee has noted the contents furnished by the Issuer as per Regulation 52(4).

In pursuance thereof we he re by confirm that we have received the aforesaid information through your letter bearing no. IFCl/CS/2019-990 dated November 18, 2019 and we have noted the contents provided therein, without ve ri fication.

'thanking you.

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Yours laithfuj,
For IDBI'I'r+sleeship Services Limited
\
i^iVrised Signatory)
tko-
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Regd. Office : Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400 001. Tel. : 022-4080 7000 • Fax : 022-6631 1776 • Email : itsl@idbitrustee.com • response@idbitrustee.com Website : www.idbitrustee.com

24r