IndusInd Bank Ltd. — Audit Report / Information 2021

Apr 30, 2021

April 30, 2021

National Stock Exchange of India Ltd. (Symbol : INDUSINDBK)

BSE Ltd. (Scrip Code : 532187)

India International Exchange (Scrip Code : 1100027)

Singapore Stock Exchange

Luxembourg Stock Exchange

Madam / Dear Sir,

Sub: Disclosure pursuant to Regulation 30 and Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Re: Outcome – Audited Financial Results for the quarter and year ended March 31, 2021

The Board of Directors at their meeting held today at Mumbai approved:

• a) Annual Audited Standalone and Consolidated Financial Results of the Bank for the quarter and year ended March 31, 2021.
• b) Recommended Dividend of Rs.5 (50%) per equity Share of Face Value of Rs.10/- each (fully Paid-Up) for the Financial Year ended March 31, 2021, subject to approval of the Shareholders at the ensuing Annual General Meeting of the Bank.

We enclose herewith:

• a) Copy of Financial Results (Standalone and Consolidated) for the quarter and year ended March 31, 2021;
• b) Auditors' Report on the aforesaid Annual Standalone and Consolidated Results dated April 30, 2021 from Haribhakti & Co. LLP, Chartered Accountants, Statutory Auditors of the Bank;
• c) Declaration with respect to issue of Audit Report with unmodified opinion with respect to the Standalone and Consolidated Annual Audited Financial Statements of the Bank.

The Board Meeting commenced at 2.00 p.m. and concluded at 5.15 p.m.

This disclosure is being made pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In compliance with the SEBI Listing Regulations, the Results are being hosted on the Bank's website at www.indusind.com.

Kindly take the above information on record.

Thanking you,

Yours faithfully, For IndusInd Bank Ltd.

HARESH KISHINCHAN D GAJWANI Digitally signed by HARESH KISHINCHAND GAJWANI Date: 2021.04.30 18:06:26 +05'30'

Haresh Gajwani Company Secretary

Encl.: a/a

Chartered Accountants

INDEPENDENT AUDITOR'S REPORT

To the Board of Directors of IndusInd Bank Limited

Report on the Audit of the Consolidated Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of IndusInd Bank Limited (hereinafter referred to as the "Bank") and its subsidiary (the Bank and its subsidiary together referred to as "the Group"), and its associate for the year ended March 31, 2021 ("the Statement"), attached herewith, being submitted by the Bank pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'), except for the disclosures relating to consolidated Pillar 3 disclosure as at March 31, 2021, including leverage ratio and liquidity coverage ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been audited by us.

In our opinion and to the best of our information and according to the explanations given to us and based on the consideration of report of other auditor on separate audited financial statements of the associate, the aforesaid Statement:

(i) includes the annual financial results of the following entities:

Sr. No.	Name of the Entity	Relationship
	IndusInd Bank Limited	Holding Company
2.	Bharat Financial Inclusion Limited (Formerly known as IndusInd Financial Inclusion Limited)	Subsidiary
3.	IndusInd Marketing and Financial Services Private Limited	Associate

(ii) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard except for the disclosures relating to consolidated Pillar 3 disclosure as at March 31, 2021, including leverage ratio and liquidity coverage ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the Statement and have not been audited by us; and

(iii) gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India, of the consolidated net profit and other financial information of the Group and its associate for the year ended March 31, 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group and its associate in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the Statement, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditor in terms of their report referred to in "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion.

Haribhakti & Co. LLP, Chartered Accountants Regn. No. AAC- 3768, a limited liability partnership registered in India (converted on 17th June, 2014 from a firm Haribhakti & Co. FRN: 103523W)

Registered offices: 705, Leela Business Park, Andheri-Kurla Road, Andheri (E), Mumbai - 400 059, India. Tel:+91 22 6672 9999 Fax:+91 22 6672 9777
Other offices: Ahmedabad, Bengaluru, Chennai, Coimbatore, Hyderabad, Kolkata

Chartered Accountants

Emphasis of Matter

We draw attention to Note 11 to the Statement which explains that the extent to which COVID-19 pandemic will impact the Group's operations and consolidated financial results is dependent on future developments, which are highly uncertain.

Our opinion is not modified in respect of this matter.

Board of Directors' Responsibility for the Consolidated Financial Results

This Statement has been compiled from the consolidated annual financial statements. The Bank's Board of Directors are responsible for the preparation and presentation of this Statement that gives a true and fair view of the consolidated net profit and other financial information of the Group including its associate in accordance with the recognition and measurement principles laid down in the Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder, the relevant provisions of the Banking Regulation Act, 1949, the RBI Guidelines and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group and its associate are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and its associate and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the respective financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Bank, as aforesaid.

In preparing the Statement, the respective Board of Directors of the companies included in the Group and of its associate are responsible for assessing the ability of the Group and its associate to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Group and its associate or to cease operations, or has no realistic alternative but to do so.

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

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

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

Continuation Sheet

HARIBHAKTT f/ CO. LLP

Chartered Accountants

As pan of an audit in accordance with SAs, we ex€rcise professionat judgment and maintain professionat skepticism throughout the audit. We atso:

• . ldentify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resutting from fraud is higher than for one resutting from error, as fraud may invotve cottusion, forgery, intentiona[ omissions, misrepresentations, or the override of internat controt.
• . Obtain an understanding of internal controt relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3Xi) of the Act, we are atso responsibte for expressing our opinion on whether the Bank has adequate intemat financial controts with reference to financial statements in ptace and the operating effectiveness of such controls.
• ' Evaluate the appropriateness of accounting poticies used and the reasonabteness of accounting estimates and retated disctosures made by the Board of Directors,
• . conctude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists retated to events or conditions that may cast significant doubt on the abitity of Group and its associate to continue as a going concern. lf we conclude that a materiat uncertainty exists, we are required to draw attention jn our auditor's report to the related disctosures in the statement or, if such disctosures are inadequate, to modify our opinion. Our conctusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and its associate to cease to continue as a going concern,
• ' Evaluate the overatt presentation, structure and content of the statement, inctuding the disctosures, and whether the Statement represent the undertyinS transactions and events in a manner that achieves fair presentation.
• ' obtain sufficient appropriate audit evidence regarding the financiat information of the entity within the Group and its associate to express an opinion on the Statement, we are responsibte for the direction, supeMsion and performance of the audit of financiat information of such entities inctuded in the Statement of which we are the independent auditors. For the other entity inctuded in the Statement, which have been audited by other auditor, such other auditor remains responsible for the direction, supervision and performance of the audit carried out by them. we remain solety responsibte for our audjt opjnion.

w€.communicate with those charged with governance of the Bank and such other entities inctuded in the )Brement ot whrch we are the ind.ependent auditors regarding, among other matters, the planned scope and. timing of the audit and significant audit findings, lnctud-ing any significant deficiencies in internal controI that we identify during our audit

we atso provide those charged with governance with a statement that we have complied with retevant ethical requirements regarding independence, and to communicate with them att relationships and other matters that may reasonably be thought to bear on our independence, and wher€ applicable, related safeguards.

we also p€rformed procedures in accordance with the circutar issued by the sEBt under Regutation 3l(g) of the Ljsting Regulations, to the extent appticabte.

Conti^uation Sheet

Chartered Accountants

Other Matters

The Statement includes Group's share of net profit after tax of Rs. 15 Lakhs and Rs. 22 lakhs for the quarter and year ended March 31, 2021 respectively, as considered in the Statement, in respect of one associate, whose financial statements have not been audited by us. These financial statements have been audited by other independent auditor whose report on financial statements has been furnished to us by the management and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this associate, is based solely on the report of such auditor.

Our opinion on the Statement is not modified in respect of the above matter with respect to our reliance on the work done and the report of the other auditor.

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

For Haribhakti & Co. LLP

Chartered Accountants

ICAI Firm Registration No.103523W / W100048

PURUSHOTT PURUSHOTTAM S NYATI AM S NYATI Date: 2021.04.30

Purushottam Nyati

Partner

Membership No. 118970

UDIN: 21118970AAAADW6723

Place: Mumbai

Date: April 30, 2021

Continuation Sheet

$\begin{matrix} \texttt{Regd. Office}: 2401, \texttt{Gen. Thimmayya Road, Cantonment, Pune 411 001} \ \texttt{CIN}: L65191 \texttt{PN1994PLC076333} \end{matrix}$

Audited Consolidated Financial Results for the quarter / year ended March 31, 2021

			Quarter ended		Year ended
Sr. No.	Particulars	31.03.2021 (audited) (Refer Note 5)	31.12.2020 (unaudited)	31.03.2020 (audited) (Refer Note 5)	31.03.2021 (audited)	31.03.2020 (audited)
1.	Interest Earned $(a)+(b)+(c)+(d)$	741936	724150	738657	2899980	2878283
(a)	Interest / Discount on Advances / Bills	612095	591066	622342	2408535	2400825
(b)	Income on Investments	96152	93072	103047	384611	428219
(c)	Interest on balances with Reserve Bank of India and other inter-bank funds	27068	21625	5151	67737	19202
(d)	Others	6621	18387	8117	39097	30037
2.	Other Income	178035	164578	177223	650088	695267
3.	Total Income (1+2)	919971	888728	915880	3550068	3573550
4.	Interest Expended	388475	383540	415538	1547191	1672409
5.	Operating Expenses (i)+(ii)	218629	208832	214670	815682	818259
(i)	Employees Cost	82716	74439	71554	303924	281964
(ii)	Other Operating Expenses	135913	134393	143116	511758	536295
6.	Total Expenditure Excluding Provisions and Contingencies (4+5)	607104	592372	630208	2362873	2490668
7.	Operating Profit before Provisions and Contingencies (3- 6)	312867	296356	285672	1187195	1082882
8.	Provisions (other than tax) and Contingencies	186569	185352	244032	794253	465210
9.	Exceptional items
	10. Profit (+) / Loss (-) from Ordinary Activities before Tax $(7 - 8 - 9)$	126298	111004	41640	392942	617672
	11. Tax Expense	33691	27965	10122	99954	171886
	12. Net Profit (+) / Loss (-) from Ordinary Activities after $Tax(10-11)$	92607	83039	31518	292988	445786
13.	Extraordinary items (net of tax expense)		ä,	٠
14.	Net Profit before share of Associate (12-13)	92607	83039	31518	292988	445786
15	Share in profit/(loss) of Associate	15	$\overline{2}$		22	32
16	Net Profit $(+)$ / Loss $(-)$ for the period $(14+15)$	92622	83041	31525	293010	445818
	17 Paid up Equity Share Capital (Face Value: Rs.10/-each) 18. Reserves excluding revaluation reserves	77337	75711	69354	77337	69354
	19. Analytical Ratios				4241367	3306110
(i)	Percentage of shares held by Government of India	0.00	0.00	0.00	0.00	0.00
	(ii) Capital Adequacy Ratio (%) - Basel III
	(iii) Earnings per share (EPS) - (Basic and Diluted) (Rs.)	17.38	16.34	15.04	17.38	15.04
	(a) Basic EPS for the period/year before Extraordinary items (not annualized)	12.11	10.97	4.55	40.03	64.33
	Diluted EPS for the period/year before Extraordinary items (not annualized)	12.09	10.96	4.54	39.96	64.10
	(b) Basic EPS for the period/ year after Extraordinary items (not annualized)	12.11	10.97	4.55	40.03	64.33
	Diluted EPS for the period/year after Extraordinary items (not annualized) iv) NPA Ratios	12.09	10.96	4.54	39.96	64.10
	(a) Gross NPA
	Net NPA	579499	365066	514674	579499
	b) Gross NPA $(%)$	147657	46421	188658	147657	514674
	Net NPA (%)	2.67	1.74	2.45		188658
	(%) Return on Assets (%) (annualized)	0.69	0.22	0.91	2.67 0.69	2.45
		1.09	1.05	0.42	0.93	0.91

$\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\overline{\over$

Schaup Le

1 The consolidated financial statements of the Group comprise the financial statements of IndusInd Bank Limited (the Bank), Bharat Financial Inclusion Limited (BFIL), a wholly owned subsidiary, and IndusInd Marketing and Financial Services Private Limited (IMFS), an Associate of the Bank.

Notes:

• There has been no material change in the accounting policies adopted during the year ended March 31, 2021 as compared to those followed for the year ended $\overline{2}$ March 31, 2020.
• 3 The working results for the quarter / year ended March 31, 2021 have been arrived at after considering provision for standard assets, including provision for exposures to entities with Unhedged Foreign Currency Exposure, non-performing assets (NPAs), depreciation on investments, income-tax and other usual and necessary provisions.
• 4 The above financial results for the quarter / year ended March 31, 2021 were subjected to an audit by the Statutory Auditors of the Bank. An unqualified / unmodified report has been issued by them thereon. These financial results were reviewed by the Audit Committee and subsequently have been taken on record and approved by the Board of Directors at its meeting held on April 30, 2021.
• The figures for last quarter of the current year and of the previous year are the balancing figures between audited figures in respect of the full financial year and 5 the published year to date figures up to third quarter. The figures up to the end of the third quarter were only reviewed by the Statutory Auditors of the Bank and not subjected to audit.
• 6 RBI Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 01, 2015, as amended, on Basel III Capital Regulations contain guidelines on certain Pillar 3 and leverage ratio disclosure requirements that are to be made along with the publication of financial results. Accordingly, such applicable disclosures have been placed on the website of the Bank which can be accessed at the following link: https://www.indusind.com/in/en/personal/regulatory-disclosure.html These disclosures have neither been audited nor reviewed by the Statutory Auditors.
• The Capital Adequacy Ratio is computed on the basis of RBI guidelines applicable on the relevant reporting dates and the ratio for the corresponding previous period is not adjusted to consider the impact of subsequent changes if any, in the guidelines.
• Under a Preferential Issue completed in two stages, on September 02, 2020, the Bank allotted 4,76,29,768 equity shares of Rs. 10 each to five Qualified Institutional Buyers and on September 04, 2020, allotted 1,51,17,477 equity shares of Rs. 10 each to two corporates including one of the promoter entities, at a price of Rs. 524 per equity share, in compliance with the applicable laws and regulations. Consequently, the equity share capital of the Bank increased by Rs. 62.75 crores and Share Premium Account by Rs. 3,196.39 crores, net of share issue expenses.
• Pursuant to a Composite Scheme of Arrangement with Bharat Financial Inclusion Limited, on July 06, 2019 the Bank allotted 1,57,70,985 Share Warrants to the Promoters of the Bank, on receipt of the subscription amount at 25% of the price of Rs.1,709 per Share Warrant. Each Share Warrant was convertible to 9 one equity share of the Bank fully paid, upon exercise of the option by paying the remaining amount. On February 18, 2021 the promoters paid Rs. 2021.45 croes towards the remaining 75% of the price of Share Warrants and exercised the option of conversion and consequently, the Bank allotted 1,57,70,985 equity shares of Rs. 10 each fully paid at a price of Rs. 1,709 per equity share. Accordingly, the share capital increased by Rs. 15.77 crores and share premium by Rs. 2.679.49 crores.
• 10 The Honourable Supreme Court of India had pronounced its judgement in the matter of Small Scale Industrial Manufacturers Association vs UOI & Ors. and other connected matters on March 23, 2021. Following the same, and in accordance with the RBI Circular dated April 07, 2021, the Bank is required to lay down a Board approved policy to refund / adjust 'interest on interest' to all borrowers including those who had availed of working capital facilities during the moratorium period i.e. March 01,2020 to August 31,2020, irrespective of whether moratorium have been fully or partially availed, or not availed. Accordingly, in accordance with the Policy approved by Board based on the methodology recommended by IBA (Indian Banks Association), the Bank has estimated the amount to be refunded and has made a provision of Rs. 30 crores in the Profit and Loss Account for the year ended March 31, 2021.
• 11 The "severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)", generally known as COVID-19 pandemic has led to an unprecedented level of disruption on socio-economic front across the country. In compliance with the RBI Circulars dated March 27, 2020, April 17, 2020 and May 23, 2020 with regard to providing relief to borrowers on account of the pandemic, the Bank laid down a policy duly approved by the Board of Directors and accordingly offered moratorium of loan instalments and interest payable by eligible borrowers. The extent to which COVID-19 pandemic, including the current 'second wave' will impact the Bank's operations and financial results is dependent on the future developments, which are highly uncertain. In view of the same, the Bank has made regulatory, floating, counter cyclical and/or contingent provisions, taking the total amount of such provisions to Rs. 2,208 crores as of March Dain has made regulatory, noning, counter eyested and of comingem provisions, taking the coal amount of sach provisions to the cross of harder stress. The provisions held by the Bank are higher than the provision required under the RBI Master Circular on Income Recognition and Asset Classification and the RBI Circulars on COVID-19 Regulatory Package on Asset Classification and Provisioning and Resolution framework.

D. Laurphi

Type of borrower	(A)	(B)	(C)	(D) Additional	(E) Increase in
Personal Loans		20858	425.90		44.41
(ii) Corporate persons			622.27		121.53
Of which MSMEs
$(iii)$ Others
Total		20859	1,048.17		165.94

Notes: Exposure in Column B represents fund based outstanding at the end of the month preceding the date of implementation of the plan. Provisions in Column E includes the provisions held as at March 31, 2021 including the provisions held as per IRAC norms at the time of implementation.

¹³ In accordance with the RBI Circulars dated March 27, 2020, April 17, 2020 and May 23, 2020 on 'COVID-19 Regulatory Package - Asset Classification and Provisioning', the details pertaining to loan accounts to which a moratorium on instalments and interest was extended, as of March 31, 2021 are as below:

	Rs. in crores
1. Advances in SMA/overdue categories, where the moratorium/deferment was extended*	15,658.74
2. Advances where asset classification benefits were extended (Net of NPA)*	2.934.95
3. Provisions made	430.00
4. Provisions adjusted against slippages
5. Residual provisions	430.00
* represents outstanding balance of accounts as on 31.03.2021

• 14 In the case of Gajendra Sharma Vs. Union Bank of India & Anr, the Honourable Supreme Court of India, vide an interim order dated September 3, 2020, prevented recognition of any new NPA effective from September 1, 2020. This interim order was vacated by the final judgment passed on March 23, 2021. In accordance with the said judgment and the RBI Circular dated April 07, 2021, the Bank has classified borrowers in terms of the RBI Master Circular on Income Recognition and Asset Classification and the RBI Circulars on COVID-19 Regulatory Package on Asset Classification and Provisioning and Resolution framework for COVID-19, and the contingency provision of Rs.1,535 crores held as on December 31,2020 towards pro forma NPA has been reversed.
• 15 During the quarter ended December 31,2019, the Bank recognized exposure in respect of two entities with an outstanding of Rs. 960.89 crores as fraud and provided in full, in accordance with the RBI Circular dated April 18, 2016, by debiting Rs. 240.22 crores to Profit and Loss Account and Rs. 720.67 crores to Balance in Profit and Loss Account under 'Reserves and Surplus'. In accordance with the said RBI Circular, the Bank has charged to the Profit and Loss account an amount of Rs.240.22 crores each during the quarter ended June 30, 2020 and September 30, 2020. Accordingly, the Bank has fully reversed the debit of Rs. 720.67 crores to Reserves and Surplus - Balance in Profit and Loss Account made during the quarter ended December 31, 2019.
• 16 During the quarter and year ended March 31, 2021, the Bank allotted 4,96,316 shares and 13,18,331 shares respectively, pursuant to the exercise of stock options by certain employees.

17 For the year ended March 31, 2021, the Board of Directors has recommended a dividend of Rs.5.00 per share (50%) [previous year Nil], subject to the approval of the members at the ensuing Annual General Meeting.

Previous periods / year figures have been regrouped / reclassified, where necessary to conform to current period classification. 18

Mumbai April 30, 2021 PURUSHOTT PURUSHOTTAM S NYATI AM S NYATI Date: 2021.04.30 17:20:22 + 05'30"

Sumant Kathpalia Managing Director

Regd. Office: 2401, Gen. Thimmayya Road, Cantonment, Pune 411 001
CIN: L65191PN1994PLC076333

Summarised Consolidated Balance Sheet		(Rs. in lakhs)
Particulars	As at 31.03.2021 (audited)	As at 31.03.2020 (audited)
CAPITAL AND LIABILITIES
Capital	77337	69354
Employee Stock Options Outstanding	541	948
Share Warrants Subscription Money	0	67382
Reserves and Surplus	4272187	3337120
Deposits	25587010	20202699
Borrowings	5132281	6075355
Other Liabilities and Provisions	1220974	970002
Total	36290330	30722860
ASSETS		1368258
Cash and Balances with Reserve Bank of India	1795740	237152
Balances with Banks and Money at Call and Short Notice	3865250
Investments	6965342	5993844
Advances	21259541	20678316
Fixed Assets	187574	187088
Other Assets	2216883	2258202
Total	36290330	30722860

$d\geqslant$ Sumant Kathpalia

Managing Director

Mumbai April 30, 2021

Consolidated Cash Flow Statement		(Rs. in lakhs)
	Year ended 31.03.2021	Year ended 31.03.2020
	(audited)	(audited)
1 Cash flows from operating activities
Net Profit before taxation	392942	617672
Adjustments for:
Depreciation on Fixed assets	32765	29094
Depreciation on Investments	60881	47493
Employees Stock Option expenses	14	37
Loan Loss and Other Provisions	733372	417716
Amortisation of premium on HTM investments	23941	45776
(Profit) / Loss on sale of fixed assets	(138)	862
Share in current period profit of Associate	22	32
Operating Profit before Working Capital changes	1243799	1158682
Adjustments for:
(Increase) in Advances	(1314597)	(2084589)
(Increase) in Investments	(1056320)	(160289)
(Increase) / Decrease in Other Assets	24677	(625593)
Increase in Deposits	5384311	731220
Increase / (Decrease) in Other Liabilities	299015	(96272)
Cash generated from / (used in) Operations	4580885	(1076841)
Direct Taxes paid (net of refunds)	(83313)	(213896)
Net Cash generated from / (used in) Operating Activities	4497572	(1290737)
2 Cash flows from investing activities
Purchase of Fixed Assets (including WIP)	(34119)	(42047)
Proceeds from sale of Fixed Assets	1007	432
Net Cash used in Investing Activities	(33112)	(41615)
3 Cash flows from financing activities
Proceeds from issue of equity shares (net of issue expenses)	533495	6060
Dividends paid		(62652)
Proceeds from issue of share warrants		67382
Increase/(Decrease) in Borrowings	(943074)	1262479
Net Cash generated from / (used in) Financing Activities	(409579)	1273269
4 Effect of foreign currency translation reserve	699	2099
5 Net increase / (decrease) in cash and cash equivalents $(1+2+3+4)$	4055580	(56984)
6 Cash and cash equivalents at beginning of period	1605410	1478340
7 Cash and Cash Equivalents acquired on Merger	$\theta$	184054
8 Cash and cash equivalents at end of period (5+6+7)	5660990
		1605410

Regd. Office: 2401, Gen. Thimmayya Road, Cantonment, Pune 411 001
CIN: L65191PN1994PLC076333

Mumbai April 30, 2021

vaile Sumant Kathpalia
Managing Director

(Rs. in lakhs)

Regd. Office: 2401, Gen. Thimmayya Road, Cantonment, Pune 411 001 CIN: L65191PN1994PLC076333

Segment Reporting for the quarter / year ended March 31, 2021

Business Segments:

Consolidated Year ended Quarter ended 31.03.2020 31.03.2021 31.03.2021 31.12.2020 31.03.2020 Sr. (audited) (unaudited) (audited) (audited) (audited) No. Particulars (a) Segment Revenue: (i) Treasury Operations (ii) Corporate / Wholesale Banking (iii) Retail Banking (iv) Other Banking Business Total [ Items (i) to (iv) ] Less : Inter-segment Revenue Total Income (b) Segment Results: (i) Treasury Operations (ii) Corporate / Wholesale Banking (iii) Retail Banking (iv) Other Banking Business Total [ Items (i) to (iv) ] Add: Unallocated Revenue Less: Unallocated Expenses Operating Profit Less: Provisions & Contingencies Net Profit before tax Less: Taxes including Deferred Taxes ×, Extraordinary Profit / Loss $\sim$ Net Profit before share of associate Add: Share of profit/loss of associate Net Profit (c) Other Information: Segment Assets (i) Treasury Operations (ii) Corporate / Wholesale Banking ×. (iii) Retail Banking (iv) Other Banking Business Unallocated Assets Total Assets Segment Liabilities (i) Treasury Operations (ii) Corporate / Wholesale Banking (iii) Retail Banking (iv) Other Banking Business Unallocated Liabilities Capital & Other Reserves

Total Liabilities

Sumant Kathpalia Managing Director

Mumbal April 30, 2021

HARIB}IAKTI A CO. LLP

Chartered Accountants

INDEPENDENT AUDITOR'S REPORT

To the Board of Dlrectors of lnduslnd Bank Llmited

Report on the Audit of the Standalone Financlal Results

Opinlon

We have audited the accompanying standatone annuat financiat resutts of Industnd Bank Limited ("the Bank") for the year ended March 31, 2021 fthe Statement'), attached herewith, b€ing submitted by the Eank pursuant to the requirements of Regulation 33 of the SEBI (Listing Obtigations and Disclosure Requirements) Regutations, 2015, as amended ('Listing Regutations'), except for the disctosures retating to Piltar 3 disctosure as at tiarch 31, 2021, inctuding teverage ratio and tiquidity coverage ratio under Earet lll Capitat Regutations as have been disctord on the Banks website and in respect of which a tink has been provided in the Statem€nt and have not been audited by us.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Statement:

(i) is presented in accordance with the requirements of Regulation 33 of the Listing Regutations in this regard except for the disctosures relating to Piltar 3 disclosure as at l'{arch 31,2021, including teverage ratio and tiquidity coverage ratio under Basel lll Capitat Regutations as have been disctosed on the Bank's website and in respect of which a tink has been provided in the Statement and have not been audited by us; ano

(ii) gives a true and fair view in conformity with the recognition and measurement principtes laid down in the appticabte accounting standards, the retevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and dire€tions issued by the Reserve Bank of lndia (RBl) from time to time ("RBt Guidetine{) and other accounting principtes generally accepted in lndia, of net profit and other financiat information of the Eank for the year ended l,{arch 31, 202.1 .

Easis for Opinion

We conducted our audit in accordance. with the Standards on Auditing (SAs) specified under Section 143(10) of the comPanies Act, 2013 ("the Act'J. our responsibilities under th-ose Staniards are further aescriUiit iri the Auditor's Responsibilities for the Audit of the standatone Financiat Results section or our repoii. we aie independent of the Eank in accordance with the code of Ethics issued by the Institute of chartere, f-t:-"1!iltt of India ("lcAl")-together with the ethicat requirements that are relevant to our audit of th; 5tatement, and we have futfitted our other ethicat responsibilities in accordance with these ."d;;;";i; and the code of Ethics. we betieve that the audit evidence 'rr" ttiu" oit"in"o is sufficient and appropriate to provide a basis for our oDinion.

Emphasls of A{atter

we draw attention to Note 10 to the statement which exptajns that the extent to which covro-19 pandemic #!ffi'1,;liri::fi":3:.""* and standatone rin"iliut 'u;;tt';-dependent on irture a"nerlpmenlil

Our opinion is not modified in respect of this matter.

li.tibh.tti O Co. U-p, Ch.n€red A<corrnlanrs R€en a ' rm nmDnlks 6 co. FRN: 103523w) No AAc' 376E, . tinited liabilitv P.n ershlp rqittefed in hdi! (conv€ncd o 1 7th .June, 2014 from rqBtercd oaaker: 705, t€€l. B!rtn.\$ p!rt. tudh.ri.Kurla Road, Andh€ri eus onkes: anmedabad a€nraluru, ch€nnar. cohbaro.e, nvacno"o, ioriirt..

rE,, llu.nb.i ii* _ 400 059, Indt tet.9t 22 66i'?9999 Fdt+9 | ZZb6t2 9m oiii, iii"'i]-

Chartered Accountants

Board of Directors' Responsibility for the Standalone Financial Results

This Statement has been compiled from the standalone annual financial statements. The Bank's Board of Directors are responsible for the preparation and presentation of this Statement that gives a true and fair view of the net profit and other financial information of the Bank in accordance with the recognition and measurement principles laid down in the Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder, the relevant provisions of the Banking Regulation Act, 1949, the RBI Guidelines and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Bank and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and is free from material misstatement, whether due to fraud or error.

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

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

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

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

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

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

Chartered Accountants

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

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

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

Other Matter

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

For Haribhakti & Co. LLP Chartered Accountants

ICAI Firm Registration No.103523W / W100048

PURUSHOTT PURUSHOTTAM S NYATI Date: 2021.04.30 AM S NYATI 17:25:39 +05'30'

Purushottam Nyati Partner Membership No. 118970 UDIN: 21118970AAAADV9037 Place: Mumbai Date: April 30, 2021

Continuation Sheet

Regd. Office : 2401, Gen. Thimmayya Road, Cantonment, Pune 411 001
CIN : L65191PN1994PLC076333

Audited Standalone Financial Results for the quarter / year ended March 31, 2021
----------------------------------------------------------------------------------	--

					Year ended	(Rs. in lakhs)
			Ouarter ended
Sr. No.	Particulars	31.03.2021 (audited) (Refer Note 4)	31.12.2020 (unaudited)	31.03.2020 (audited) (Refer Note 4)	31.03.2021 (audited)	31.03.2020 (audited)
	1. Interest Earned $(a)+(b)+(c)+(d)$	741936	724150	738657	2899980	2878283
	(a) Interest / Discount on Advances / Bills	612095	591066	622342	2408535	2400825
	(b) Income on Investments	96152	93072	103047	384611	428219
	(c) Interest on balances with Reserve Bank of India and other inter-bank funds	27068	21625	5151	67737	19202
	Others	6621	18387	8117	39097	30037
(d) 2.	Other Income	178012	170546	177200	655861	695131
3.	Total Income $(1+2)$	919948	894696	915857	3555841	3573414
	Interest Expended	388475	383540	415538	1547191	1672409
4.	Operating Expenses (i)+(ii)	225320	213828	216702	835983	823734
5.	Employees Cost	59507	54270	49569	221351	220848
(i)		165813	159558	167133	614632	602886
6.	(ii) Other Operating Expenses Total Expenditure Excluding Provisions and	613795	597368	632240	2383174	2496143
7.	Contingencies (4+5) Operating Profit before Provisions and Contingencies $(3-6)$	306153	297328	283617	1172667	1077271
	8. Provisions (other than tax) and Contingencies	186569	185352	244032	794253	465210
9.	Exceptional items
	10. Profit (+) / Loss (-) from Ordinary Activities before Tax $(7-8-9)$	119584	111976	39585	378414	612061
		31989	26700	9401	94775	170270
	11. Tax Expense 12. Net Profit (+) / Loss (-) from Ordinary Activities after $Tax(10-11)$	87595	85276	30184	283639	441791
	13. Extraordinary items (net of tax expense)				$\ddot{\phantom{1}}$	٠ 441791
	14. Net Profit (+) / Loss (-) for the period (12-13)	87595	85276	30184	283639 77337	69354
	15. Paid up Equity Share Capital (Face Value: Rs.10/- each)	77337	75711	69354	4227843	3301956
	16. Reserves excluding revaluation reserves
17.	Analytical Ratios			0.00	0.00	0.00
(i)	Percentage of shares held by Government of India	0.00	0.00	15.04	17.38	15.04
	(ii) Capital Adequacy Ratio (%) - Basel III	17.38	16.34
	(iii) Earnings per share (EPS) - (Basic and Diluted) (Rs.)		11.27	4.35	38.75	63.75
	(a) Basic EPS for the period/year before Extraordinary items (not annualized)	11.45		4.34	38.68	63.52
	Diluted EPS for the period/year before Extraordinary items (not annualized)	11.43	11.25	4.35	38.75	63.75
	(b) Basic EPS for the period/year after Extraordinary items	11.45	11.27		38.68	63.52
	(not annualized) Diluted EPS for the period/year after Extraordinary	11.43	11.25	4.34
	items (not annualized)			514674	579499	514674
	(iv) NPA Ratios	579499	365066	188658	147657	188658
	(a) Gross NPA	147657	46421	2.45	2.67	2.4 3
	Net NPA	2.67	1.74	0.91	0.69	0.9
	(b) Gross NPA $(%)$	0.69	0.22	0.41	0.90	1.5
	Net NPA (%)	1.03	1.07
	(v) Return on Assets (%) (annualized)

Staupte

Notes:

• $\mathbf{1}$ There has been no material change in the accounting policies adopted during the year ended March 31, 2021 as compared to those followed for the year ended March 31, 2020.
• 2 The working results for the quarter / year ended March 31, 2021 have been arrived at after considering provision for standard assets, including provision for exposures to entities with Unhedged Foreign Currency Exposure, non-performing assets (NPAs), depreciation on investments, income-tax and other usual and necessary provisions.
• 3 The above financial results for the quarter / year ended March 31, 2021 were subjected to an audit by the Statutory Auditors of the Bank. An unqualified / unmodified report has been issued by them thereon. These financial results were reviewed by the Audit Committee and subsequently have been taken on record and approved by the Board of Directors at its meeting held on April 30, 2021.
• 4 The figures for last quarter of the current year and of the previous year are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to third quarter. The figures up to the end of the third quarter were only reviewed by the Statutory Auditors of the Bank and not subjected to audit.
• 5 RBI Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 01, 2015, as amended, on Basel III Capital Regulations contain guidelines on certain Pillar 3 and leverage ratio disclosure requirements that are to be made along with the publication of financial results. Accordingly, such applicable disclosures have been placed on the website of the Bank which can be accessed at the following link: https://www.indusind.com/in/en/personal/regulatory-disclosure.html These disclosures have neither been audited nor reviewed by the Statutory Auditors.
• 6 The Capital Adequacy Ratio is computed on the basis of RBI guidelines applicable on the relevant reporting dates and the ratio for the corresponding previous period is not adjusted to consider the impact of subsequent changes if any, in the guidelines.
• Under a Preferential Issue completed in two stages, on September 02, 2020, the Bank allotted 4,76,29,768 equity shares of Rs. 10 each to five $\overline{7}$ Qualified Institutional Buyers and on September 04, 2020, allotted 1,51,17,477 equity shares of Rs. 10 each to two corporates including one of the promoter entities, at a price of Rs. 524 per equity share, in compliance with the applicable laws and regulations. Consequently, the equity share capital of the Bank increased by Rs. 62.75 crores and Share Premium Account by Rs. 3,196.39 crores, net of share issue
• Pursuant to a Composite Scheme of Arrangement with Bharat Financial Inclusion Limited, on July 06, 2019 the Bank allotted 1,57,70,985 8 Share Warrants to the Promoters of the Bank, on receipt of the subscription amount at 25% of the price of Rs.1,709 per Share Warrant. Each Share Warrant was convertible to one equity share of the Bank fully paid, upon exercise of the option by paying the remaining amount. On February 18, 2021 the promoters paid Rs. 2021.45 croes towards the remaining 75% of the price of Share Warrants and exercised the option of conversion and consequently, the Bank allotted 1,57,70,985 equity shares of Rs. 10 each fully paid at a price of Rs. 1,709 per equity share. Accordingly, the share capital increased by Rs. 15.77 crores and share premium by Rs. 2,679.49 crores.
• The Honourable Supreme Court of India had pronounced its judgement in the matter of Small Scale Industrial Manufacturers Association vs UOI & Ors. and other connected matters on March 23, 2021. Following the same, and in accordance with the RBI Circular dated April 07, 2021, the Bank is required to lay down a Board approved policy to refund / adjust 'interest on interest' to all borrowers including those who had availed of working capital facilities during the moratorium period i.e. March 01,2020 to August 31,2020, irrespective of whether moratorium have been fully or partially availed, or not availed. Accordingly, in accordance with the Policy approved by Board based on the methodology recommended by IBA (Indian Banks Association), the Bank has estimated the amount to be refunded and has made a provision of Rs. 30 crores in the Profit and Loss Account for the year ended March 31, 2021.
• 10 The "severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)", generally known as COVID-19 pandemic has led to an unprecedented level of disruption on socio-economic front across the country. In compliance with the RBI Circulars dated March 27, 2020, April 17, 2020 and May 23, 2020 with regard to providing relief to borrowers on account of the pandemic, the Bank laid down a policy duly approved by the Board of Directors and accordingly offered moratorium of loan instalments and interest payable by eligible borrowers. The extent to which COVID-19 pandemic, including the current 'second wave' will impact the Bank's operations and financial results is dependent on the future developments, which are highly uncertain. In view of the same, the Bank has made regulatory, floating, counter cyclical and/or contingent provisions, taking the total amount of such provisions to Rs. 2,208 crores as of March 31, 2021, including an amount of Rs. 905 crore in respect of borrower accounts restructured in accordance with Resolution Framework for Covid-19 related stress. The provisions held by the Bank are higher than the provision required under the RBI Master Circular on Income Recognition and Asset Classification and the RBI Circulars on COVID-19 Regulatory Package on Asset Classification and Provisioning and Resolution framework.

Startele

11 Details of resoulution plan implemented under the Resolution Framework for COVID-19 related stress as per RBI circular dated August 06, 2020 are given below: (D) Additional $(E)$ $(B)$ $(C)$ $(A)$ Type of borrower Increase in funding $Of(B),$ Number of exposure to provisions on sanctioned, if aggregate accounts where accounts account of the any, including resolution plan mentioned at (A) amount of debt implementation between that was has been before invocation of the of the resolution converted into implementation implemented plan and plan other securities of the plan under this implementation window 44.41 20858 425.90 (i) Personal Loans 121.53 622.27 (ii) Corporate persons Of which MSMEs (iii) Others 165.94 20859 1,048.17 Notes: Exposure in Column B represents fund based outstanding at the end of the month preceding the date of implementation of the plan. Provisions in Column E includes the provisions held as at March 31, 2021 including the provisions held as per IRAC norms at the time of implementation. 12 In accordance with the RBI Circulars dated March 27, 2020, April 17, 2020 and May 23, 2020 on 'COVID-19 Regulatory Package - Asset Classification and Provisioning', the details pertaining to loan accounts to which a moratorium on instalments and interest was extended, as of March 31, 2021 are as below: Rs. in crores 15,658.74 1. Advances in SMA/overdue categories, where the moratorium/deferment was extended* 2,934.95 2. Advances where asset classification benefits were extended (Net of NPA)* 430.00 3. Provisions made 4. Provisions adjusted against slippages / restructuring $43000$ 5. Residual provisions * represents outstanding balance of accounts as on 31.03.2021 13 In the case of Gajendra Sharma Vs. Union Bank of India & Anr, the Honourable Supreme Court of India, vide an interim order dated September 3, 2020, prevented recognition of any new NPA effective from September 1, 2020. This interim order was vacated by the final judgment passed on March 23, 2021. In accordance with the said judgment and the RBI Circular dated April 07, 2021, the Bank has classified borrowers in terms of the RBI Master Circular on Income Recognition and Asset Classification and the RBI Circulars on COVID-19 Regulatory Package on Asset Classification and Provisioning and Resolution framework for COVID-19, and the contingency provision of Rs.1,535 crores held as on December 31,2020 towards pro forma NPA has been reversed. 14 During the quarter ended December 31,2019, the Bank recognized exposure in respect of two entities with an outstanding of Rs. 960.89 crores as fraud and provided in full, in accordance with the RBI Circular dated April 18, 2016, by debiting Rs. 240.22 crores to Profit and Loss Account and Rs. 720.67 crores to Balance in Profit and Loss Account under 'Reserves and Surplus'. In accordance with the said RBI Circular, the Bank has charged to the Profit and Loss account an amount of Rs.240.22 crores each during the quarter ended June 30, 2020 and September 30, 2020. Accordingly, the Bank has fully reversed the debit of Rs. 720.67 crores to Reserves and Surplus – Balance in Profit and Loss Account made during the quarter ended December 31, 2019. 15 During the quarter and year ended March 31, 2021, the Bank allotted 4,96,316 shares and 13,18,331 shares respectively, pursuant to the exercise of stock options by certain employees. 16 For the year ended March 31, 2021, the Board of Directors has recommended a dividend of Rs.5.00 per share (50%) [previous year Nil], subject to the approval of the members at the ensuing Annual General Meeting. 17 Previous periods / year figures have been regrouped / reclassified, where necessary to conform to current period classification. Laurelle PURUSHOTTA Digitally signed by PURUSHOTTAM S NYATI Date: 2021.04.30 17:26:02 MSNYATI Sumant Kathpalia $+05'30'$ Managing Director Mumbai April 30, 2021

IndusInd Bank

Regd. Office: 2401, Gen. Thimmayya Road, Cantonment, Pune 411 001 CIN: L65191PN1994PLC076333

		(Rs. in lakhs)
Particulars	As at 31.03.2021	As at 31.03.2020
	(audited)	(audited)
CAPITAL AND LIABILITIES
Capital	77337	69354
Employee Stock Options Outstanding	541
Share Warrants Subscription Money	$\Omega$	948
Reserves and Surplus		67382
Deposits	4258663	3332966
Borrowings	25620496	20203981
Other Liabilities and Provisions	5132281	6075355
Total	1207957	955769
ASSETS	36297275	30705755
Cash and Balances with Reserve Bank of India
Balances with Banks and Money at Call and Short Notice	1787068	1367526
Investments	3845651	232840
Advances	6969471	5997994
Fixed Assets	21259541	20678317
Other Assets	180937	182011
	2254607	2247067
Total	36297275	30705755

Mumbai April 30, 2021

Sumant Kathpalia Managing Director

Standalone Cash Flow Statement		(Rs. in lakhs)
	Year ended	Year ended 31.03.2020
	31.03.2021 (audited)	(audited)
Cash flows from operating activities
	378414	612061
Net Profit before taxation
Adjustments for:	30541	27797
Depreciation on Fixed assets	60881	47493
Depreciation on Investments	14	37
Employees Stock Option expenses Loan Loss and Other Provisions	733372	417717
Amortisation of premium on HTM investments	23941	45776
Dividend from subsidary	(6000)	$\Omega$
(Profit) / Loss on sale of fixed assets	(142)	860
		1151741
Operating Profit before Working Capital changes	1221021
Adjustments for:		(2094363)
Increase in Advances	(1314597)	(160258)
Increase in Investments	(1056298) (29306)	(615382)
Increase in Other Assets	5416514	732502
Increase in Deposits	300232	(11970)
Increase / (Decrease) in Other Liabilities	4537566	(997730)
Cash generated from / (used in) Operations
	(73009)	(206136)
Direct Taxes paid (net of refunds)
	4464557	(1203866)
Net Cash generated from / (used in) Operating Activities
		(40369)
2 Cash flows from investing activities	(30273)	409
Purchase of Fixed Assets (including WIP)	949
Proceeds from sale of Fixed Assets	6000	(39960)
Dividend from subsidiary	(23324)
Net Cash used in Investing Activities
	533495	6060
3 Cash flows from financing activities	$\blacksquare$	(62652)
Proceeds from issue of equity shares (net of issue expenses)		67382
Dividends paid	(943074)	1262480 1273270
Proceeds from issue of share warrants	(409579)
Increase/(Decrease) in Borrowings Net Cash generated from / (used in) Financing Activities		2099
	699
4 Effect of foreign currency translation reserve		31543
	4032353
5 Net increase in cash and cash equivalents $(1+2+3+4)$		1478340
	1600366
6 Cash and cash equivalents at beginning of period Cash and Cash Equivalents acquired on Merger (Net of transfer to wholly	$\bf{0}$	90483
	5632719	1600366

pele Sumant Kathpalia
Managing Director $\mathfrak{a}$

Mumbai
April 30, 2021

Regd. Office: 2401, Gen. Thimmayya Road, Cantonment, Pune 411 001 CIN: L65191PN1994PLC076333

Segment Reporting for the quarter / year ended March 31, 2021

Business Segments:

(Rs. in lakhs) Standalone Year ended Quarter ended Sr. 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 No. Particulars (unaudited) (audited) (audited) (audited) (audited) (a) Segment Revenue : (i) Treasury Operations (ii) Corporate / Wholesale Banking (iii) Retail Banking (iv) Other Banking Business Total [ Items (i) to (iv) ] Less : Inter-segment Revenue Total Income (b) Segment Results: (i) Treasury Operations (ii) Corporate / Wholesale Banking (iii) Retail Banking (iv) Other Banking Business Total [Items (i) to (iv) ] Add: Unallocated Revenue $\overline{a}$ $\sim$ Less: Unallocated Expenses Operating Profit Less: Provisions & Contingencies Net Profit before tax Less: Taxes including Deferred Taxes Extraordinary Profit / Loss $\overline{a}$ Net Profit (c) Other Information: Segment Assets (i) Treasury Operations (ii) Corporate / Wholesale Banking (iii) Retail Banking (iv) Other Banking Business $\overline{\phantom{a}}$ Unallocated Assets $\cdot$ Total Assets Segment Liabilities (i) Treasury Operations (ii) Corporate / Wholesale Banking (iii) Retail Banking (iv) Other Banking Business Unallocated Liabilities $\omega$ Capital & Other Reserves $\overline{a}$ Total Liabilities

Sumant Kathpalia

Managing Director

Mumbai April 30

April 30, 2021

National Stock Exchange of India Ltd. (Symbol : INDUSINDBK)

BSE Ltd. (Scrip Code : 532187)

India International Exchange (Scrip Code : 1100027)

Singapore Stock Exchange

Luxembourg Stock Exchange

Madam / Dear Sir,

Declaration to Stock Exchanges

[Pursuant to Regulation 33(3)( d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015]

Madam / Dear Sir,

This is to declare that M/s Haribhakti & Co. LLP. Chartered Accountants, (FRN 103523W / W100048), Statutory Auditors of the Bank, have issued an unmodified opinion on the Standalone and Consolidated Annual Audited Financial Results of the Bank for the quarter and year ended March 31, 2021.

This declaration is furnished to the Stock Exchanges in compliance with Regulation 33(3)(d) of SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015.

Thanking you,

Yours faithfully, For IndusInd Bank Ltd.

HARESH KISHINCHAN D GAJWANI Digitally signed by HARESH KISHINCHAND GAJWANI Date: 2021.04.30 18:07:36 +05'30'

Haresh Gajwani Company Secretary

Encl.: a/a