April 29, 2022

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

Sub: Outcome of the meeting of the Board of Directors of lnduslnd Bank Limited (the Bank) for approval of Audited Financial Results of the Bank (Standalone and Consolidated) for the quarter and financial year ended March 31, 2022 and payment of Dividend, for the financial year 2021-22.

Ref: Regulations 30, 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the Listing Regulations)

Madam/ Dear Sir,

In compliance with Regulations 30, 33 and 52 of the Listing Regulations, we notify that the Board of Directors of the Bank, at their meeting held today at Mumbai, have approved Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2022 (Financial Results).

The Board also took note of the Audit Report' on the Financial Results, issued by the Bank's Joint Statutory Auditors, Mis. Haribhakti & Co. LLP, and Mis. M. P. Chitale & Co.

The Board also approved payment of dividend at the rate of Rs. 8.5 per equity share of Rs. 10/ each of the Bank, for the Financial Year 2021-22 (85%), subject to approval of the Shareholders at the ensuing Annual General Meeting.

We enclose herewith copy of the Financial Results, the said Audit Report and the declaration with respect to issue of the said Audit Report with unmodified opinion with respect to the said Financial Results of the Bank.

Since Mis Haribhakti & Co. LLP, Chartered Accountants will not be undertaking the audit of the Bank for FY 2022-23, in terms of the RBI communication dated October 12, 2021, the Board took note that the Limited Review for the quarter ending June 2022 shall be undertaken by Mis M P Chitale & Co., Chartered Accountants. An intimation in regard to appointment of joint statutory auditor in place of Mis Haribhakti & Co. LLP, shall be made to the Stock Exchanges upon appointment.

he Board Meeting commenced at 2.45 p.m. and concluded at 5.25 p.m.

Solitaire Corporate Park Office: lnduslnd Bank Limited, Building No. 7, Solitaire Corporate Park, Andheri-Ghatkopar Link Road, Chakala, Andheri {El Mumbai 400 093, India Tel: (0022) 02026341

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

We request you to take note of the above and kindly arrange to bring the above results to the notice of all concerned.

Thanking you.

Yours Sincerely, ~;dB••kUd

Girish Koliyote Company Secretary ACS 14285

Encl: a/a

Solitaire Corporate Park Office: lnduslnd Bank Limited, Building No. 7, Solitaire Corporate Park, Andheri-Ghatkopar Link Road, Chakala, Andheri (E) Mumbai 400 093, India Tel: (0022) 02026341

Registered Office: 2401 Gen. Thimmayya Road, Pune 411 001, India Tel.: {020) 2634 3201 Fax: (020) 2634 3241 Visit us at www.indusind.com CIN:L65191PN1994PLC076333

Haribhakti & Co. LLP Chartered Accountants 705, Leela Business Park, Andheri Kurla Road Andheri (E), Mumbai - 400 059

M.P. Chitale & Co. Chartered Accountants Hamam House, Ambalal Doshi Marg, Fort, Mumbai - 400 001

INDEPENDENT AUDITOR'S REPORT

To the Board of Directors of lnduslnd Bank Limited

Report on the Audit of the Consolidated Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of lnduslnd 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, 2022 ("the Statement"), attached herewith, being submitted by the Bank pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63(2) 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, 2022, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel Ill 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 Entitv	Relationshin
1.	lnduslnd Bank Limited	Holdina Comnanv
2.	Bharat Financial Inclusion Limited (Formerly known as lnduslnd Financial Inclusion Limited\	Subsidiary
3.	lnduslnd Marketina and Financial Services Private Limited	Associate

(ii) is presented in accordance with the requirements of the Listing Regulations in this regard except for the disclosures relating to consolidated Pillar 3 disclosure as at March 31, 2022, including leverage ratio, liquidity coverage ratio and net stable funding ratio under Basel Ill 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 prescribed under section 133 of the Companies Act, 2013 ("the Act") read along with the rules issued thereunder, 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, 2022.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(1 O) of the Companies Act, 2013 ("the Act"). Our responsibilities under those Standards are further described in the Audito~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.

Emphasis of Matter

'i'-rBJACGJV

We draw attention to Note 8 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 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, Banking Regulations Act, 1949 and the RBI Guidelines 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 Board of Directors of the Bank, as aforesaid.

In preparing the Statement, the respective Board of Directors of the entities 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.

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. -=- ,f:__:;;;-.rrr e the appropriateness of accounting policies used and the reasonableness of accounting

, q.> 4- es and related disclosures made by the Board of Directors. :')!; ^~*I MUMBAI /* q\ ;fl '?1~2'>

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 ability of Group and its associate 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 Group and its associate 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.
Obtain sufficient appropriate audit evidence regarding the financial information of the entity within the Group and its associate to express an opinion on the Statement. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the Statement of which we are the independent auditors. For the other entity included 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 solely responsible for our audit opinion.

We communicate with those charged with governance of the Bank and such other entity included in the Statement of which we are the independent auditors 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.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable.

Other Matters

1. The Statement includes Group's share of net profit after tax of Rs. 11.38 lakh and Rs. 39.84 lakh for the quarter and year ended March 31, 2022 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 this matter.
1. The audited consolidated financial results include the audited financial results of one subsidiary whose financial information reflect Group's share of total assets of Rs. 97,535.21 lakh as at March 31, 2022, Group's share of total revenue of Rs. 41,523.30 lakh and Rs. 1,63,711.76 lakh and Group's share of net profit after tax of Rs. 3,916.24 lakh and Rs. 19,351.64 lakh for the quarter and year ended March 31, 2022, respectively and net cash inflows of Rs. 2,454.31 lakh for the year ended March 31, 2022 as considered in the audited consolidated financial results. These audited financial information have been furnished to us by the Board of Directors and reviewed by one of the Joint Auditors and our consolidated financial results, in so far it relates to the amounts and disclosures included in respect of this subsidiary is based solely on such audited financial information. Our opinion on the Statement is not modified in respect of this matter.

Haribhakti & Co. LLP Chartered Accountants

M.P. Chitale & Co. Chartered Accountants

The Statement includes the results for the quarter ended March 31, 2022, being the balancing figure between audited figures in respect offull 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. Our opinion on the Statement is not modified in respect of this matter.

For Haribhakti & Co. LLP Chartered Accountants ICAI Firm Registration No.103523W/W100048

Place: Mumbai Date: April 29, 2022

For M.P. Chitale & Co. Chartered Accountants ICAI Firm Registration No.101851W

Anagha Thatte Partner Membership No. 105525 UDIN: 22105525AICLUl8740

Place: Mumbai Date: April 29, 2022

IndusInd Bank

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

		Audited Consolidated Financial Results for the quarter / year ended March 31, 2022				(Rs. in lakhs)
			Ouarter ended		Year ended
Sr. No.	Particulars	31.03.2022 (audited) (Refer Note 5)	31.12.2021 (unaudited)	31.03.2021 (audited) (Refer Note 5)	31.03.2022 (audited)	31.03.2021 (audited)
		785989	773749	741936	3082244	2899980
ı.	Interest Earned (a)+(b)+(c)+(d) Interest / Discount on Advances / Bills	638841	633499	612095	2514344	240853.
(a)	Income on Investments	103837	102316	96152	405288	384611
(b) (c)	Interest on balances with Reserve Bank of India and other inter-bank funds	32288	31576	27068	128836	67737
	(d) Others	11023	6358	6621	33776	3909
2.	Other Income	190502	187685	178035	740763	650088
3.	Total Income $(1+2)$	976491	961434	919971	3823007	3550068
4.	Interest Expended	387473	394392	388475	1582160 931071	1547191 815682
5.	Operating Expenses (i)+(ii)	250878	235829	218629	347354	303924
(i)	Employees Cost	91630	86546 149283	82716 135913	583717	511758
$\rm (ii)$ 6.	Other Operating Expenses Total Expenditure Excluding Provisions and Contingencies (4+5)	159248 638351	630221	607104	2513231	236287
	7. Operating Profit before Provisions and Contingencies (3-6)	338140	331213	312867	1309776	118719
8. 9.	Provisions (other than tax) and Contingencies Exceptional items	146352	165405	186569	666495 643281	79425. 39294
10.	Profit (+) / Loss (-) from Ordinary Activities before Tax $(7-8-9)$	191788	165808 41669	126298 33691	162818	9995
	11. Tax Expense 12. Net Profit (+) / Loss (-) from Ordinary Activities after Tax (10-11)	51736 140052	124139	92607	480463	29298
	13. Extraordinary items (net of tax expense)
	14. Net Profit before share of Associate (12-13)	140052	124139	92607	480463	29298
	15 Share in profit/(loss) of Associate	12	16	15	40	2.
	16 Net Profit $(+)$ / Loss $(-)$ for the period $(14+15)$	140064	124155	92622	480503	293010
	17 Paid up Equity Share Capital (Face Value: Rs.10/-each)	77466	77455	77337	77466	7733
	18. Reserves excluding revaluation reserves				4725172	424136
	19. Analytical Ratios (i) Percentage of shares held by Government of India	0.00	0.00	0.00	0.00	0.01
	(ii) Capital Adequacy Ratio (%) - Basel III	18.42	18.06	17.38	18.42	17.3
(a)	CET 1 Ratio	15.96	15.13	15.55	15.96	15.5
(b)	Additional Tier 1 Ratio $(iii)$ Earnings per share (EPS) -	0.84	1.24	1.28	0.84	1.2
	(Basic and Diluted) (Rs.)	18.08	16.04	12.11	62.07	40.O
(a)	Basic EPS for the period/year before Extraordinary items (not annualized)	18.06	16.01	12.09	61.97	39.9
	Diluted EPS for the period/year before Extraordinary items (not annualized)	18.08	16.04	12.11	62.07	40.0
	(b) Basic EPS for the period/year after Extraordinary items (not annualized)			12.09	61.97	39.9
	Diluted EPS for the period/year after Extraordinary items (not annualized)	18.06	16.01
	(iv) NPA Ratios (a) Gross NPA	551715	577927	579499	551715	57949
	Net NPA	152983	163321	147657	152983	14765
	(b) Gross NPA $(\%)$	2.27	2.48	2.67 ^°	2.27	2.6
	Net $NPA$ $\left(\% \right)$	0.64	0.71	0.69	0.64	0.6
	(v) Return on Assets (%) (annualized)	1.51	1.35	1.09	1.33	0.9
	(vi) Net Worth (Refer Note 13 a)	4581650	4383348	4150781	4581650	415078
	(vii) Outstanding Redeemable Preference Shares	0.00	0.00	0.00	0.00	0.0
	(viii) Capital Redemption Reserve	0.00	0.00	0.00	0.00	0.0
	(ix) Debt Equity Ratio (Refer Note 13 b)	0.76	0.84	0.76	0.76	0.7
	(x) Total Debt to Total Assets (Refer Note 13 c)	0.12	0.12	0.14	0.12	0.1

Notes:

¹The consolidated financial statements of the Group comprise the financial statements oflnduslnd Bank Limited (the Bank), Bharat Financial Inclusion Limited (BFIL), a wholly owned subsidiary, and Induslnd Marketing and Financial Services Private Limited (IMFS), an Associate of the Bank.
²The Hanle has applied its significant accounting policies in the preparation of financial results for quarter and year ended March 31, 2022 in line with those followed in the annual financial statements for the year ended March 31, 2021 except for its stock based employee compensation plans. RBI, vide its clarification dated August 30, 2021 on Guidelines on Compensation of Whole Time Directors / Chief Executive Officers / Material Risk Takers and Control Function Staff, advised Banks that the fair value of share-linked instruments on the date of grant should be recognised as an expense for all insttuments granted after the accounting period ending March 31, 2021. Accordingly, the Bank has changed its accounting policy from the intrinsic value method to the fair value method for all share-linked instruments granted after March 31, 2021. The fair value of the stock-based compensation is estimated on the date of grant using Black-Scholes model and is recognised as compensation expense over the vesting period. As a result, 'Employees cost' for the quarter and year ended March 31, 2022 is higher by Rs. 6.70 crores and Rs.12.31 crores respectively with a consequent reduction in profit after tax by the said amount.
3 The working results for the quarter and year ended March 31, 2022 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.

The above financial results for the quarter and year ended March 31, 2022 were subjected to audit by the Joint Statutory Auditors (Haribhakti & Co. LLP Chartered Accountants and M.P.Chitale & Co. Chartered Accountants) of the Bank. An 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 29, 2022. The financial results for the quarter and year ended March 31, 2021 were audited by Haribhakti & Co. LLP Chartered Accountants.

5 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 Joint Statutory Auditors of the Bank and not subjected to audit.
6 RBI Guidelines on Basel ill Capital Regulations require Bank to make Pillar 3 disclosure including leverage ratio, Liquidity Coverage Ratio and Net Stable Funding 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 Joint Statutory Auditors.
7 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.
8 The COVID-19 pandemic had led to an unprecedented level of disruption on socio-economic front which led to a nation-wide lod::down across the country in April 2020 and May 2020. The 'second wave' peaked in April 2021-May 2021 and subsided in June-July 2021. The 'third wave' ofCovid-19 broke out at December end, which has impacted Banks operations mildly and level of uncertainty is currently reducing.

India is coming out of the disruptions caused by the COVID-19 pandemic. The extent to which any new wave ofCOVID-19 will impact the Bank's operations is dependent on future developments. In view of the same, the Bank continues to hold contingent provisions of Rs. 3,178 crores as of March 31, 2022, including an amount of Rs. 1,160 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.

9 Details of resolution plan implemented under the Resolution Framework for COVID-19 related stress as per RBI circular dated August 06, 2020 (Resolution Framework 1.0) and May 05, 2021 (Resolution Framework 2.0) as at March 31, 2022 are given below:

					(Rs. In crores)
Type ofborrower	consequent to implementation of resolution plan- Position as at the end of September 31, 2021 (A)#	Exposure to accounts Of (A), aggregate debt Of(A) amount classified as Standard that slipped into NP A written off during the by the borrowers during the half-year." half-year.		Of(A) amount paid during the half- year. consequent to \$	Exposure to accounts classified as Standard implementation of resolution plan - Position as at the end of March 31, 2022
(i) Personal Loans	759.24	223.27	38.80	52.45	483.52
(ii) Corporate persons	2,543.49	183.96		435.22	1,924.31
Of which MS:MEs
(iii) Others	2,352.72	148.09	41.46	45.34	2,159.29
Total	5,655.45	555.32	80.26	533.01	4,567.12

Includes cases where request received till September 30, 2021 and implemented subsequently

" Includes cases which have been written off during the period

\$ Amount paid by the borrower during the half year is net of addition in the borrower account including additions due to interest capitalisation

Exposure in above table represents Fund and non-Fund Based exposure.

10 Details of loan transferred/acquired during the quarter ended March 31, 2022 under the RBI Master Direction on Transfer of Loan Exposures dated September 24, 2021 are given below:

(i) The Bank has not acquired any loan not in default.

(ii) Details ofloans not in default transferred are given below:

IndusInd Bank

Mode of Transfer	Assignment Cun
	Novation
Aggregate amount of loans transferred (Rs. in Crores)	737.41
Weighted average residual maturity (in years)	9.01
Weighted average holding period (in years)	262
Retention of beneficial economic interest	NΠ
Tangible security coverage*	100%
Rating wise distribution of loans acquired by value
۱A-	64%
/B+	15%
Unrated	21%

(iii) Details of Non-Performing Assets (NPAs) / Write off transferred

			(Rs. in crores except number of accounts)
Particulars	To Asset Reconstruction Companies (ARCs)	To Permitted transferees	To other transferees
Number of borrowers	6.812
Aggregate principal outstanding of loans transferred	465.85
Weighted average residual tenor of the loans transferred (in years)	1.69
Net book value of loans transferred (at the time of transfer)	391.21
Aggregate consideration	375.00
Additional consideration realised in respect of accounts transferred in earlier years*	17.91

* Represents surplus received during the current quarter in case of Security Receipts issued in earlier years.

(iv) The Bank has not acquired any stressed loans (NPA and SMA accounts).

(v) Details on recovery ratings assigned for Security Receipts as on March 31, 2022:

Recovery Rating	Anticipated recovery as per recovery rating	Book Value (Rs. In crores)
RRI*	100%-150%	2376.47
RR ₂	75% 100%	315.95
RR3	50%-75%	5.78
RR4	25%-50%	135.02
RR ₅	$0\% - 25\%$	44 62
Unrated		33.03
Total		2910.87

* Includes Rs. 862.48 crores of Security Receipts (SR) on which, pursuant to regulatory norms, the ARC shall obtain initial rating of Security Receipts (SR) from an approved credit rating agency within a period of 6 months from the date of acquisition

11 During the quarter and year ended March 31, 2022, the Bank allotted 1,14,560 shares and 12,90,864 shares respectively, pursuant to the exercise of stock options by certain employees.

12 For the year ended March 31, 2022, the Board of Directors has recommended a dividend of Rs. 8.50 per share [previous year Rs. 5 per share, subject to the approval of the members at the ensuing Annual General Meeting.

$13$ a) Networth is calculated as per the Master Circular - Exposure Norms issued by the RBI b) Debt represents borrowing with Residual maturity of more than one year. c) Total Debt represents total borrowings of the Bank.

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

Mumbai April 29, 2022

ݮ Sumant Kathpalia

Managing Director

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

	- -	(Rs, in lakhs)
I	As at 31.03.2022	As at 31.03.2021
---- ----- 'Particulars -- - ----	(audited)	(audited)
CAPITAL AND LIABILITIES		- -- ----- -----
-~~-~ Capital -- -	774661	77337
Employee Stock Options Outstanding ---- ------- -	1607 1 _	_____ 5_4jl
Reserves and Surplus	4723565c.;!	____ 42_7_2_18_j7
Deposits	29334947	----------, 25587010
Borrowings	4732323	-------j 5132281 - -------
Other Liabilities and Provisions	--+----------- 1326830	1220974
----- ----------- Total	40196738	36290330
- ASSETS
Cash and Balances vvith Reserve Bank oflndia -	1569820 - --------	--+----------' 1795740
. Balances with Banks and Money at Call and ShortJ\l otice	5288652	1-------- 3865250'
Investments	7092989	1--------'-- 6965342
------------------ Advances	23905153	21259541 -- -------
---------------i--------1-------~ Fixed Assets - --	192875	187574!

[e-~---th-=- __ e_r-:A-:_s-:_s_e_ts-:-:~----~------ _ - --------==T=ot=al~I=---		_ --40=\=l::~-;_i~~~~~~---____ J~i~!!---,!

Mumbai April 29, 2022

j.~ Managing Director

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

		(Rs. in lakhs)
	Year ended 31.03.2022 (audited)	Year ended 31.03.2021 (audited)
1 Cash flows from operating activities
Net Profit before taxation	643281	392942
Adjustments for:
Depreciation on Fixed assets	35202	32765
Depreciation on Investments	36640	60881
Employees Stock Option expenses	1231	14
Loan Loss and Other Provisions	629855	733372
Amortisation of premium on HTM investments	37585	23941
(Profit) / Loss on sale of fixed assets	113	(138)
Share in current period profit of Associate	40	22
Operating Profit before Working Capital changes	1383947	1243799
Adjustments for:
Increase in Advances	(3275467)	(1314597)
Increase in Investments	(201873)	(1056320)
Decrease in Other Assets	125586	24677
Increase in Deposits	3747937	5384311
Increase in Other Liabilities	105857	299015
Cash generated from Operations	1885987	4580885
Direct Taxes paid (net of refunds)	(218769)	(83313)
Net Cash generated from Operating Activities	1667218	4497572
2 Cash flows from investing activities
Purchase of Fixed Assets (including WIP)	(41430)	(34119)
Proceeds from sale of Fixed Assets	814	1007
Net Cash used in Investing Activities	(40616)	(33112)
3 Cash flows from financing activities
Proceeds from issue of equity shares (net of issue expenses)	8443	533495
Dividends paid	(38699)
Redemption of Long Term Infrastructure Bonds	(50000)
Redemption of Perpetual Debt instruments	(100000)
Proceeds from Sub-ordinated Tier II capital	280000
Decrease in Borrowings	(529959)	(943074)
Net Cash used in Financing Activities	(430215)	(409579)
4 Effect of foreign currency translation reserve	1095	699
5 Net increase / (decrease) in cash and cash equivalents $(1+2+3+4)$	1197482	4055580
6 Cash and cash equivalents at beginning of the year	5660990	1605410
$7$ Cash and cash equivalents at end of the year (5+6)	6858472	5660990

Mumbai April 29, 2022

Sumant Kathpalia

Managing Director

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

Segment Reporting for the quarter and year ended March 31, 2022

Business Segments:

(Rs. in lakhs)

		Consolidated
			Quarter ended			Year ended
Sr.		31.03.2022	31.12.2021	31.03.2021	31.03.2022	31.03.2021
	No. Particulars	(audited)	(unaudited)	(audited)	(audited)	(audited)
	(a) Segment Revenue :
	(i) Treasury Operations	168617	165735	150082	699351	666209
	[ii) Corporate/ Wholesale Banking	228917	241103	235441	910087	872989
	[iii] Retail Banking	621230	601941	544483	2401864	2028773
	(iv] Other Banking Business	5937	1381	1613	11546	17424
	Total [ Items (i) to (iv) ]	1024701	1010160	931619	4022848	3585395
	Less : Inter-segment Revenue	48210	48726	11648	199841	35327
	Total Income	976491	961434	919971	3823007	3550068
	(bl Segment Results :
	[i) Treasury Ooerations	27121	22662	34370	139126	195890
	(ii) Corporate/ Wholesale Banking	85718	89306	88352	325956	299079
	[iii] Retail Banking	232239	227712	197993	875544	718917
	(iv] Other Banking Business	2261	542	646	4352	6074
	Total [ Items (i) to (iv)]	347339	340222	321361	1344978	1219960
	Add: Unallocated Revenue			-
	Less: Unallocated Expenses	9199	9009	8494	35202	32765
	Operating Profit	338140	331213	312867	1309776	1187195
	Less: Provisions & Contingencies	146352	165405	186569	666495	794253
	Net Profit before tox	191788	165808	126298	643281	392942
	Less: Taxes including Deferred Taxes	51736	41669	33691	162818	99954
	Extraordinary Profit / Loss	-	-	-	-	- 292988
	Net Profit before share of Associate	140052	124139	92607	480463
	Add: Share in profit/loss of Associate	12	16	15	40	22
	Net profit	140064	124155	92622	480503	293010

	(c) Other Information :
	Segment Assets		10401420	9865955	10223254	9865955
	[i) Treasury Operations	10223254 12046283	10880057	10602425	12046283	10602425
	[ii) Corporate/ Wholesale Banking (iii) Retail Banking	16606239	16481787	14414043	16606239	14414043
	(iv] Other Banking Business	-	-	-	-	-
	Unallocated Assets	1320962	1293089	1407907	1320962	1407907
	Total Assets	40196738	39056353	36290330	40196738	36290330
	Segment Liabilities
	[i) Treasury Operations	4805393	4637692	5207478	4805393	5207478
	(ii) Coroorate / Wholesale Banking	9964575	9598058	10001770	9964575	10001770
	(iii] Retail Banking	19512380	19052581	15754729	19512380	15754729
	[iv] Other Banking Business	-	-	-	-	-
	Unallocated Liabilities	1111752	1107561	976288	1111752	976288
	Caoital & Other Reserves	4802638	4660461	4350065	4802638	4350065
	-.-----.~ Total Liabilities	40196738	39056353	36290330	40196738	36290330

Haribhakti & Co. LLP Chartered Accountants 705, Leela Business Park, Andheri Kurla Road Andheri (E), Mumbai - 400 059

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