IndusInd Bank Ltd. — Interim / Quarterly Report 2021

Oct 27, 2021

October 27, 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

Sub: Disclosure under Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') - Outcome of the Board Meeting

Re: Unaudited Financial Results (Standalone and Consolidated) and Limited Review Report for quarter and half-year ended September 30, 2021

Madam/Dear Sir.

In compliance with Regulations 30 and 33 of SEBI Listing Regulations, we notify that the Board of Directors of the Bank, at their meeting held today at Mumbai, have approved inter alia, the Unaudited Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2021.

The Board also took note of the 'Limited Review Report' issued by the Bank's Joint Statutory Auditors, M/s. Haribhakti & Co. LLP, and M/s. M. P. Chitale & Co.

We enclose herewith copy of Unaudited Financial Results (Standalone and Consolidated) for the quarter and half-year ended September 30, 2021 and Limited Review Report.

Further, pursuant to the Regulation 23 of SEBI Listing Regulations, we also enclose herewith the halfyearly disclosure of Related Party Transactions on consolidated basis, drawn in accordance with the applicable accounting standards, for the half year ended September 30, 2021.

The Board Meeting commenced at 2.00 p.m. and concluded at $4\sqrt{5}$ Pm

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 Induslnd Bank Ltd.

Haresh Gajwani Company Secretary

Encl: a/a

Solitaire Corporate Park Office : IndusInd Bank Limited, Building No.7, Solitaire Corporation Park, Andheri- Ghatkoper Link Road, Chakala, Andheri (E), Mumbai - 400 093, India Tel: (0022) 66412887

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. Charfered Accountants Hamam House, Ambalal Doshi Marg, Fort, Mumbai -400 001

lnd.p.Iid.nt ArdKOT'. RiwlHr R.oort on umudJt.d Con.olldded a+iart.rtr .nd Yen to Drty FlmnchJ R-ub Of lndu.lnd Bank LJmlt.d our.u.rt to th. Redul.tlon 33 .nd Reaumlen+a read^/ith Reflulation 63(21 of the SEBl lListinq Obliaations and Disclosuires Reauirementsl Reaulations. 2015 (as amendedl

To The Board Of Directors lnduslnd Bank Limited

• 1. We have reviewed the accompanying Statement Of Unandited Consolidated Financial Resuife of lnduslnd Bank Limited ("the Parent" or "the Bank") and its subslidiary (the Parent and its subsidiary together referred to as the Group), and its share Of the net profit after tax Of its associate for the quarter ended September 30, 2021 and for the period from April 01, 2021 to September 30, 2021 ("the Statement"), being submitted by the Parent pursuant to the requirements Of Regulation 33 and Regulation 52 read with Regulation 63(2) Of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (`Listing Regulations'), except for the disclosures relating to Pillar 3 disclosure as at September 30, 2021, including leverage ratio ancl litiuidfty coverage ratio under Basel Ill Capital Regulations as have been disclosed on the Bank's websife and in respect Of which a link has been provided in the Statement and have not been reviewecl by us.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 read with relevant 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. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of the personnel and analytical procedures appljed to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit

lul.P. Chitale & Co. Chartered Accountants

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

1. The statement includes the results of the following entities:

Sr. NO-	Name of Entity	Relation
1	Induslnd Bank Limited	Parent
2	Bharat Financial Inclusion Limited (Formerly known as lnduslnd Financial Inclusion Limited)	Subsidiary
3	Induslnd Marketing and Financial Services Private Limited	Associate

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on consideration of the review report of the other auditors referred to in paragraph 7 and 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Accounting Standard, RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Listing Regulations, including the manner in which it is to be disclosed, except for the disclosures relating to Pillar 3 disclosure as at September 30, 2021, including leverage ratio and liquidity coverage 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 reviewed by us, or that it contains any material misstatement.
• 1. We draw attention to Note 7 to the Statement which explains that the extent to which COVID-19 pandemic will impact the Group's operations and results is dependent on future developments, which are highly uncertain.

Our report is not modified in respect of this matter.

1. The unaudited consolidated financial results include the unaudited financial results of one subsidiary whose financial information reflect Group's share of total assets of Rs.85,616.36 lakh as at September 30, 2021, Group's share of total revenue of Rs. 39,370.56 Iakh and Rs. 76,940.97 lakh and Group's share of net profit after tax of Rs. 3,313.87 lakh and Rs. 7,423.81 lakh for the quarter ended September 30, 2021 and for the period from April 01, 2021 to September 30, 2021, respectively, and cash out flows of Rs.13,580.63 lakh for the period from April 01, 2021 to September 30, 2021 as considered in the unaudited consolidated financial results. These unaudited interim 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 and disclosures included in respect of this subsidiary is based solely on information. relates e amounts

lvl.P. Chitale & Co. Chartered Accountants

Our report is not modified in respect of this matter

1. The unaudited consolidated financjal results includes the Group's share of net profit after tax of Rs.6.30 lakh and Rs.12.32 lakh for the quarfer ended September 30, 2021 and for the period from April 01, 2021 to September 30, 2021, respectively as considered in the unaudited consolidated financial results, in respect of one associate, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditor whose report has been furnished to us by the Management and our report 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 the other auditor.

Our report on the Statement is not modified in respect of the above matter.

1. One of the current Joint Statutory Auditors has carried out (a) limited review of the unaudited consolidated financial results of the Bank as per the Listing Regulations for the quarter and period ended September 30, 2020 and for the quarter ended June 30, 2021 and issued unmodified reports dated October 30, 2020 and July 27, 2021 respectively; and (b) audit of the consolidated financial results of the Bank as per the Listing Regulations for the year ended March 31, 2021 and issued an unmodified opinion vide its report dated April 30, 2021. Our report on the Statement is not modified in respect of this matter.

For Haribhakti & Co. LLP Chartered Accountants lcAI Firm Registration No.103523WAV100048

.r.'

PurLishottam Nyati Partner Membership No. 118970 U DIN : 21118970AAAAIS6130

Place: Mumbai Date: October 27, 2021

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

•..3irlir.i.ij,!x. /, ( ,' 1 i.'\

Anagha Thatte Partner Membership No.105525 UDIN: 21105525AAAAHG8623

Place: Mumbai Date: October 27, 2021

Rcg4. Office : 2401, Gen. Thimmayya Road, Cantonment, Pune 411001 CIN : u5519lpN1994PLC076333

							(Rs. in lth)
Sr. No,	Particulals	Cb- ended 30.09.2021 (unndtco	Ouer- 30.06Jmel (unapdited)	30.09.ZOZO (unaudited)	Qquer ndcd HIfycalcnded Euryealended 30.09.2021 (unanditeo	30.09.2020 (unndte4)	Year ended 31.03.2021 (ndted)
I.	hieTcstfand(a)tlti)tl€)-rtTar	765036	757470	717721	1522506	1433894	2899980
(a)	Interest / Discount on Advances / Bills	623886	618118	598774	1242004	1205374	2408535
a)	Income on lnvesments	99297	99838	95235	199135	195387	3846 I I
(c)	Interest on balances with Reserve Bank of lndia and otherinter-bankfunds	35006	29966	16964	64972	19044	QT,3=
(d)	Others	6847	9548	6748	16395	14089	39097
2.	Other Income	183770	178806	155431	362576	307475	650088
3.	Total Incon€ (I +2)	948806	936Z76	873152	1885082	1741369	3550068
4.	Interest Expended	399196	401099	389922	800295	775176	1547191
5.	Operating Expenses (i)+(ii)	227736	216628	198032	-aaa5i64	388221	815682
(i)	Employees cost	84893	84285	72482	169178	146770	303924
(il)	Other Operating Expenses	142843	132343	125550	275186	241451	511758
6.	Total Equditlne Erdunng rfea=on§ andContingcndes(4+S)	626932	617727	587954	1244659	1163397	2362873
	7. I operating Profit befoz€ Provialons and Contingendcs(3<)	321874	318549	285198	640423	577972	1187195
8.	Provisious (other than tax) and Contingencies	170336	184402	196444	354738	422332	794253
9.	Exceptronal Items			___ _88754		I
	10. Profit (+) / Loss i--)-from OrdiBay Activities before,Tar(7-8-9)	15 S38	134147		285685	155640	39Z5ZZ
11.	Tax Expense	36871	32542	22446	69413	38298	99954
	12. Net Profit (+) / I^)s8 (-) from Ordinary Actlvitles afterTax( 0- l)	114667I	101605	66308	Z16272	117342	292988
13.	Extraordmaryiteus nTa6ftaxexpeuse)
	14. Net Profit before sbane of Assodatc ( 12-13)	114667	10lco5	66308	216272	117342	292988
15	Share in profit/(lass) of Associate	6	6	(0)	12	5	22
16	Net Profit (+) / Iross (-) for the pehod (14+15)	114673	101611	66308	Z16284	117347	293010
17	Paid up Equity Share CapitalGraceValue:Rs.10/-each)	77412	77388	75645	77412	75645	77337
	18. Reserves cxduding revaluation reserves						4241367
	19. Aulytical Bndes
(n	PerceritngeofsharesheldbyGovemmentoflndia	0.00	0.00	0.00	0.00	0.00	0.00
	(ul Capital Adequacy Ratio (%) - Easel Ill	17.37	17.57	16.55	17.37	16.55	17.38
	(iil) Eamipgs per share QI'S) -OasicandDiltleed)(R8.)		I	__ _§.30
	(a) Basic EPS for the period/ year before Extraordinaryitems(notarmualized)	14.81	13.14		27.95	16.68	40.03
	DHuted EPS for the period/ year before Extraordinaryitems(notamualiz€d)	14.79	13.11	9.29	27.90	16.67	39.96
a)	Basic EPS for the penod/ year after Extraordinary iems(notannuahad)	14.81	13.14	9.30	27.95	16.68	40.03
	Diluted EPS for the penod/ year after Extraordimryitems(notannualized)	14.79	13.11	9.29	27.90	16.67	39.96
	(iv) NIA Ratios
(a)	Gross NPA	624504	618576	453215	624504'	453215	579499
	Net NPA	177135	175959	105581	177135	105581	147657
a)	Gross NIA (%)	2.77	2.88	2.21	2.77	2.21	2.67
	Net NPA (%)	0.80	0.84	0.52	0.80	0.52	0.69
	(v)iReturn on Asscts (%) (armualized)	I.29	1.17	0.85	I.23	0.77	0.93
	(vL) Net Worth O`cfer Note I I a)	4275089i	4224261	3790883	4275089	3790883	4150781
	(vil) Outstanding Redeemable Preference Shares
	(vifi) Capital Redemption Resen/e
	(lx) I)cbt Equity Ratio (Refer Note I I b)	0.77	0.78	0.77	0.77	0.77	0.76
	(x) Total Debt to Total Assets alcfer Note I I c)	0.12	0.13	0.16	0.12	0.L6	0.14

• • • _I

-ulLean

Notes:

• I The consolidated financial statements of the Group comprise the fimncial statements of [nduslnd Bank Limited (the Bank), Bharat Financial Inclusion Limited a3FIL), a wholly owned subsidiary, and lndus[nd Marketing and Financial Services Pin/ate Limited (IMPS), an Associate of the Bank
• 2 The Bank has applied its significafit accoundng policies in the pxpantion Of financial results for quaJter and half year ended September 30, 2021 in line with those followed in the annual financial Statements for the year ended March 31, 2021 except for its stock based employee compeneation plans. RBI, vide its clarification dated Angus[ 30, 2021 on Guideines on Compensafron of whole Tine Directors / Chief Exccutive Officers / Matenal Risk Takers and Control Function Staff, advised Banks that the fair value of share-linked instruments on the date Of grant should be recoghised as an expense for all instrlmenc granted after the accountizig pennd ending March 31, 2021. ,hordingly, the Ban][ has changed its accoun(ing policy from the intinsic value method to the fair value method for all shae-linked instniinents granted after March 31, 2021. The fair value of the stork-based compensation is estimated on the date of grant using Black-Scholes model and is recognised as compeusatioD expense over the vesting penod. The Bank granted stock optiolis in May 2021 and September 2021 under its Employee Stock Option Scheme a3SOS) and as a result, .Bmptoyees cost' for the quarter and half year ended September 30, 2021 is higher by Rs 3.60 trores with a consequent reduction in profit after tax.Theworkingresultsforthequarter/halfyearendedSeptember30,2021havebeenamvedataftercousidenngprovisionforstandard assets. including provrsion for
• 3 exposures to enti(ies with Unhcdgod Foreign Curency Exposure, non-perfoming assets (NPAs), depreciatron on investments, income-tax and other usual and necessary provisions.
• 4 The above financial results for the quarter / half year ended September 30, 2021 were subjected to a limited review by the Joint Statutory Auditors (Hanbhakti & Co. I.LP Chartered Accountants and M.P.Chitale & Co. Chartered Accountants) of the Group. An unmodified report has been issued by then thereon. These financial results were renewed by the Audit Committee and subsequently have been taken on record and approved by the Board of Directors at its meeting held on October 27, 2021.The previous period results were reviewed / auditcd by Haribhakti & Co. LLP Chartered Accountants.5RBIMasterCircufaTI)BR.No.BP.BC.I/21.06.201/2015-16datedJuly01,2015.asa[nended,onBaselinCapitalRegulatiouscoDtaLn guidelines on cenain Pillar 3 and

leverage ratro disclosure requirements that ape to be made along with the publicanon of financial results. Accordingly, such applicable disclosures have tnen plaed on the website of the Back which can be acoessed at the following link: https:/^w`rw.indusind.com/in/en/pasonal/[egulatorydisclosure.html These disclosures have neither been audited nor reviour€d by the Joint Statutory Auditors

• 6 The Capital Adequaey Ratio is computed on the basis of RBI guidelmes applicable on the relevant reporing dates and the ratio for the corresponding previous penod is not adjusted to consider the inpact of subsequent changes if any, in the gtiidelines.
• 7 The "severe acute respiratory syndrome coronavirus 2 (SARS,CoV-2)" , generally hour as COVID-19 pandemic has led to an unprecedented level of disription on socioeconomic front anoss 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 bomwers on account of the pandemic, the Bank laid down a policy duly approved by the BoaLrd of Directors and accordingly offfrod mcmtorium of loan iustaJments and interest payable by eligible borrowers. Thesecond wave' which peaked in April 202l-May 2021 has started to subside and the loclrdo`rms in many states have been lifted resuldrg in near nomal economic acuvity. In view of the same, the Bank has made regulatory, floadrg, counter cyclical and/or condrgent provisions, taking the total amount of such provision to Rs. 3.515 crores as of September 30, 2021, including an amount of Rs. I,435 cro[e in respect of borrower accounts restructured in aLccordance with Resolution Framework for Covid-19 zelaced stress. The provisions held by the Bank are higher than the provision required under the RBI Master Circular on Income Recogmtion and Asset Classification and the RBI Circulas on COVID-19 Regulatory Package on Asset Classification and Ehovisio"ng and Resolution framework.8Dungthe qua[1er and half year cndcd September 30, 2021, the Bank utilised floating provrsion anountm\g to Rs. 125 crones against non prefoming assets in
• accordanee with REI Circular on Utilisation of Floating Provisions/Counter Cyclical Provisioning Buffer dated May 05. 2021.
• 9 (i) Detads of resolution plan implemented under the Resolution Franework for COVID-19 related stress as per RBI circular dated August 06, 2020 are given below (RBI Rcsolufron francwork 1.0):

Type of borrower	(A) Number of accounts where resolution planhasbeenimplementedunderthiswindow plan	a) exposure to accounts mentioncd at (A) before inplenentation of the	(C) Ofa3), aggregate amount of debt sanctioned, if	a) Additional fundmg that wasconverted intoothersecunties any, includingboweeninvocationoftheplanandinpleznentation resoltLtion plan	a3) Increase in provisions on account of the inplenentation of the
(I) Personal Loans	20876	431.18			30.79
(ii) Corporate persons	10	2747.05	9.62	33.60	354.05
Ofwhich MSREs
`) Cwhen
Total) \	2088	`iDKTIL\3178.23	9.62	33.60	384.84
-:--`;I--:^`````::::::==g--tr;i=r3rieck

				ate. in crores exc	number of accounts)
Type of borrower	(A) Exposure to accounts classified as Standard consequent to implementatio n of resolution plan- Position as at the end of the previous half-year(I)	Of (A), aggregate debt that slipped into NPA dunng the half-yeart2)	Of (A) anount wntten off during the half year(3)	Of (A) amount paid by the borrowers during the half year	Exposure to accounts classified as Standard consequent to im )lementation of resolution plan - Position as at the cnd of this half-year(4)
(i) Personal Loans
(ii) Corporate persons
Of which usREs
(iii) Cithers

( I) Irdudes restrucfumg implemcnted during the quarter ended June 2021 under Resolution Framc'work I.0

(2) Exposure is as on March 3 I , 202 I

(3) Exposure is as on Scf)tember 30,2021

(4) Represents debt that slipped into NPA and was subsequently wnttcn off during the half y€aT

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

(ii) Details of resolution plan implcmented under the Resolution Franowork for COVID-19 related stress of Individuals and Small Business as per RBI ciroular dated May 05, 2021 are given below QBI Resolution framework 2.0):

		I number of accounts
	Business Loans
A) Number of requests received for invoking resolution process	6,28,911
a) Number of accounts where resolution plan has been implementcd under this window	3.20,442
C) Exposure to accounts mentioned at 8) before implementation of the plan	I,001.26
D) or (C), aggregate anount of debt that was converted into other secunties
E) Additional funding sanctioned. if any. including between invocation of the plan and implementation
F) Inerease in provisions on account of the implementation of the resolution plan

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

There were 93 borrower with exposue of Rs. 5.73 crorc, where resolution plan was earlier implemented under RBI resolution framework I.0 and now modified under RBI resolution framework 2.0.

10 Dunng the qurrer and half year ended September .0, 2021, the Bank anoned 242,410 shaes and 746,895 shares respectively, pufsuant to the exercise of stock options by ccrtan em|)loyees.

11 a) Networth is calculated as per the Master Circular -Exposue Noms issued by the RBI b) Debt repre8cnts borrowmg with Residual maturity of more than one year. c) Total Debt represents total borrowings of the Bank.

12 Previous pennds / year fig`nes have been regrouped / reclassified, where necessary to confom to cunent penod classification.

MDndal October 27

اهله

umant Kathpalia

Managing Director

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

	As at 30.09.2021	As at 30.09.2020	As at 31.03.2021
	(unaudited)	(unaudited)	(audited)
CAPITAL AND LIABILITIES
Capital	77412	75645	77337
Employee Stock Options Outstanding	902	958	541
Share Warrants Subscription Money	$\Omega$	67382	$\Omega$
Reserves and Surplus	4454288	3823417	4272187
Deposits	27528821	22788418	25587010
Borrowings	4629540	5238508	5132281
Other Liabilities and Provisions	1358529	1205305	1220974
Total	38049492	33199633	36290330
ASSETS
Cash and Balances with Reserve Bank of India	1323863	827852	1795740
Balances with Banks and Money at Call and Short Notice	5389125	3756611	3865250
Investments	6924469	6295274	6965342
Advances	22080757	20124682	21259541
Fixed Assets	190309	188962	187574
Other Assets	2140969	2006252	2216883
Total	38049492	33199633	36290330

Mumbai October 27, 2021

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

	Half year ended 30.09.2021 (unaudited)	Half year ended 30.09.2020 (unaudited)	Year ended 31.03.2021 (audited)
1 Cash flows from operating activities
	285685	155640	392942
Net Profit before taxation
Adjustments for:	16994	15920	32765
Depreciation on Fixed assets	17709	36359	60881
Depreciation on Investments Employees Stock Option expenses	722	10	14
Loan Loss and Other Provisions	337029	385974	733372
Amortisation of premium on HTM investments	18684	9711	23941
(Profit) / Loss on sale of fixed assets	13	22	(138)
Share in current period profit of Associate	12	5	22
Operating Profit before Working Capital changes	676848	603641	1243799
Adjustments for:
(Increase) / Decrease in Advances	(1158245)	167660	(1314597)
(Increase) / Decrease in Investments	4481	(347500)	(1056320)
(Increase) / Decrease in Other Assets	107045	220303	24677
Increase in Deposits	1941810	2585719	5384311
Increase in Other Liabilities	137555	283346	299015
Cash generated from / (used in) Operations	1709494	3513169	4580885
Direct Taxes paid (net of refunds)	(100544)	(6649)	(83313)
Net Cash generated from / (used in) Operating Activities	1608950	3506520	4497572
2 Cash flows from investing activities
Purchase of Fixed Assets (including WIP)	(19963)	(17964)	(34119)
Proceeds from sale of Fixed Assets	221	147	1007
Net Cash used in Investing Activities	(19742)	(17817)	(33112)
3 Cash flows from financing activities
Proceeds from issue of equity shares (net of issue expenses)	4019 (38699)	326786	533495
Dividends paid Proceeds from issue of share warrants	÷.
	(502741)	(836847)	(943074)
Increase/(Decrease) in Borrowings	(537421)	(510061)	(409579)
Net Cash generated from / (used in) Financing Activities
4 Effect of foreign currency translation reserve	211	411	699
5 Net increase / (decrease) in cash and cash equivalents $(1+2+3+4)$	1051998	2979053	4055580
6 Cash and cash equivalents at beginning of period	5660990	1605410	1605410
7 Cash and cash equivalents at end of period $(5+6)$	6712988	4584463	5660990

Mumbai October 27, 2021

& IT: C d MUMBAI ¥ $\star$ $B_{12}$ 'n AC

$d_{\mathcal{R}}$ Sumant Kathpalia

Managing Director

Regd. Office : 2401, Gen. Thimmayya Road, Cantonment, Pune 411001 GIN : L65191PN1994PLC076333

Segment Reporting foT' the quarteT'/half year ended September 30, 2021

Business Segments:

Corporate / Wholesale Banking Less : Inter-segment Revenue Corporate / Wholesale Bank]ng	30.09.ZOZ1 (unaudited) 169501 218725 610140 1385 999751 50945 948806	Quarter ended 30.06.Z021 (unandited) 195498 221342 568553 2843 988Z36 51960 936276	Consolidated 30.09.2020 (unaudited) 161724 215966 505105 4577 88737Z 14220	Half year ended 30.09.Z021 (unaudited) 364999 440067 1178693 4228 1987987 102905	30.09.20ZO (unatidited) 354078 428580 972511 5522 1760691	year ended 31.03.2021 (audited) 666209 872989 2028773 17424 3585395
					19322	35327
			873152	1885082	1741369	3550068
	33749	55594	46864	89343	123965	195890
	77519	73413	69375	150932	135761	299079
	218806	196787	175777	415593	332334	718917
	531 330605	1018 326812	1530 293546	1549 657417	1832 593892	6074 1219960
						32765
						1187195
						794253
						392942
						99954
	114667	101605	66308	216272	117342	Z92988
						22
	114673	101611	66308	216Z84	117347	293010
						9865955
						10602425
						14414043
						1407907
	38049492	37299556	33199633	38049492	33199633	36290330
						5207478
						10001770
						15754729
						976288
						4350065
						36Z90330
	Less: Provisions & Contingencies Less: Taxes including Deferred Taxes Nat Profit before share Of Associate Add: Share in profit/loss Of Associate Corporate / Wholesale Banking Corporate / Wholesale Banking	8731 321874 170336 151538 36871 6 10080042 10930482 15705682 1333286 4708321 9426748 18250920 1130901 453260Z 38049492	8263 318549 184402 134147 32542 6 10247440 10217349 15513488 1321279 5007185 9447587 17428121 961873 4454790	8348 285198 196444 88754 22446 '01 8600673 9218880 13979836 1400244 5335535 9325909 13616621 954166 396740Z	16994 640423 354738 285685 69413 12 10080042 10930482 15705682 1333286 4708321 9426748 18250920 1130901 m1[1 4532602 37299556 33199633 38049492	15920 577972 422332 155640 38298 5 8600673 9218880 13979836 1400244 5335535 9325909 13616621 954166 3967402 33199633

§

t` Ti) i MIJMBAI * }# :lap Thvse

"#=.#i..-]..-ne" ... :.....:?i-..:..`. .... I.L#:#if e:l

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 ALlditor's Revie`^/ Report on Umaudited Standalone Quarterly and Year to Date Financial Results Of lndLislnd Bank Limited Dur§uant to the Regulation 33 and Reaulation 52 read with Reaulation 63121 Of the SE13l /Listina Obligations and Disclosures Reauirementsl Reaulation§. 2015 (as amendedl

To the Board Of Directors lnduslnd Bank Limited

• 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of lnduslnd Bank Limited ("the Bank") for the quarfer ended September 30, 2021 and for the period from April 01, 2021 to September 30, 2021 ("the Statement"), being submitted by the Bank pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63 (2) of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (`Listing Regulations'), except for the disclosures relating to Pillar 3 disclosure as at September 30, 2021, including leverage ratio and liquidity coverage 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 reviewed by us.
• 1. This Statement, which is the responsibility of the Bank's Management and approved by the Bank's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 ulnterim Financial Reporting" prescribed under Section 133 of Companies Act, 2013 read with relevant rules issued thereunder, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank Of India (RBl) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of the Bank's personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Accounting Standard, RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, except for the disclosures relating to Pillar 3 disclosure as at September 30, 2021, including leverage ratio and liquidity

M.P. Chitale & Co. Chartered Accountants

and in respect of which a link has been provided in the Statement and have not been reviewed by us, or that it contains any material misstatement.

1. We draw attention to Note 6 to the Statement which explains that the extent to which COVID-19 pandemic will impact the Bank's operations and results is dependent on future developments, which are highly uncertain.

Our report is not modified in respect of this matter.

1. One of the current Joint Statutory Auditors has carried out (a) limited review of the unaudited standalone financial results of the Bank as per the Listing Regulations for the quarter and half-year ended September 30, 2020 and for the quarter ended June 30, 2021 and issued unmodified reports dated October 30, 2020 and July 27, 2021 respectively; and (b) audit of the standalone financial results of the Bank as per the Listing Regulations for the year ended March 31, 2021 and issued an unmodified opinion vide its report dated April 30, 2021. Our report on the Statement is not modified in respect of this matter.

For Haribhakti & Co. LLP Chartered Accountants lcAI Firm Registration No.103523W

.+`;.

Pumushottam Nyati Partner MembershipNo.118970 ` UDIN: 21118970AAAAIR2352

Place: Mumbai Date: October 27, 2021

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

I,i,, : i .`, ,I.-

Anagha Thatte Partner Membership No.105525 UDIN: 21105525AAAAHH3755

Place: Mumbai Date: October 27, 2021

Rcgd. Office : Z401, Gen. Thinmayya Road, Cantonment, Pune 411001 CIN : I.6519lpN1994PLC076333

Unaudited Standalone Financial Resplts for the quarter/half year ended Sgivehoer 30, 2021

							(Rs. in larml
Sr. No,	I'articulars	Qu- ended 30.09.Z02 (unudlted)	Quatcr ended 30.06.2021 (unandted)	30.09.Z020 (unaunted)	Quancr ended Half year ended Half year ended 30.09.2021 /tlnaudited)	I 30.09.2020 (unudited)	Year ended 31.03.2021 (audited'
I.		765036	757470	717721	1522506	1433894	2899980
	IntcTcst Earned (a)+(b)tic)tld)Interest/DiscountonAdvances / Bills	623886	618118	598774	1242004	1205374	2408535
(a) a)	Income on Investments	99297	99838	95235 i	199135	195387	3846 1 1
(c)	Intacst on balances with Rcscrve Bank of India and other inter-bank fundslother§IOtherhcome	35006	29966	16964 i	64972	19044	67737
(d)		6847	9548	6748	16395	14089	39097
2.		183720	178107	155384	361827	307303	655861 -3i5584
	3. ITotal hcome (1+2)	948756	935S77	873105	1884333	1741197
4.	Interest Expended	399196	401099	389922	800295	775176	1547191
	5. !Ooeratin£ Expenses (i)+(ii)(I)'Emi)loversCost	232114	221422	200130	453536	396835	835983
		60163	60817	524 I 1	120980	107574	221351
	(il) Other ODerating ExpensesTotalExpcndlttmeExclqdiag Provisions andCondngencies(4+5)	171951	160605	147719	332556	289261	614632
6.		631310	622521	590052	1253831	1172011	2383174
7.	Opczating I'rofit before I.revisions and Contingencies(3J5)	317446	313056	28)053	630S02	569186	I I 7Z667 --75a;a2-53
8.	Provisions (other than tax) and Conthgencies	170336	184402	196444	354738	422332
9.	Exceptional itemsProfit(+)/Lass(-) from ordinary Activities beforeTax(7nl-9)
10.		147110	128654	86609	275764	146854	378414
11.	Tax ExrmeNetProfit(+) / I.ass (-) from Ordinary Activities afterTaJ[( 0-II)Extraordinaryitems(netoftaLxexpense)	35757	31159	21905	66916	36o8T6	-_rT83639 94775
12.		111353	97495	64704	208848	110768
13.
	14. Net Profit (+) / I.ass (-) for the oeriod (12-13)	111353	9749S	64704	208848	110768	283639
15.	Paid up Equity Share CapitalQ'aceValue:Rs.10/-each)	77412	77388	75645	77412	75645	77337 4227843
16.	Reserves excluding revaluation reserves
17.	Aulvtical Ratios		0.00	0.00	0.00	0.00	0.00
(i)	Percentaj!e of shares held bv Government of lnd]a	0.00 17.37	17.57	16.55	17.37	16.55	_li38
(il)	Capital Adeauacv Ratio (%) - Easel Ill (iil) Earnings per share QPS) -(BasicandDiltded)ale.)BasicEPSfortheperiod/year before Extraordinaryitems(not-ualizcd)
(a)		14.39	12.60	9.07	26.99I26.94	15.75	38.75
	i:i:e(dn:tpi£Ojinthe#Od/yearbeforeExtraordmay(BasicEPsforthepenod/y€arafterExtraordinaryitems	14.36	12.58	9.07		15.74	38.68
a)	(not annuallzcd)	14.39	12.60 i	9.07	26.99	15.75	38.75
	Diluted EPS for the period/ year after Extraordinaryitems(notamualized)	14.36	12.58	9.07	26.94	15.74	38.68
	(iv) NIA RatiosGrossNPANetNPAGrossNPA(%)		I
(a)		i 624504	618576	453215	624504	453215	579499
		177135	175955	105581	177135	105581	147657
a)		2.77	2.88	2.21	2.77	2.21	2.67
	Net NPA (%)ReturnonAssets (%) (amualized)	0.80	0.84	0.52	0.80	0.52	0.69
(v)		I.26	1.12	0.83	I.19	0.73	0.90
	(ut Net Worth alefer Note I 0 a)	4254877	4207333	3780973	4254877	3780973	4137829
	(vil) Outstandm2 Redeemable PrefcTence Shacs
	(viil) Capital Redemption Rcservc	0.77	0.79	0,77	0.77	0.77	0.77
	(ix) Debt Eq ty Ratio Qffer Note 10 b)	0.12	0.13	0.16	0.12	0.16	0.14
(x)	Total Debt to Total Assets (Refer Note 10 c)

= ---- ` ' ------irJ-:--=YMUMBA]*'gfIN##Q©frynIxp@ke4ffi

Notes:

§

C,}`

• I The Bank has applicd its significant accounting policies in the preparation of financial results for quarter and haLlfyear ended September 30, 2021 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 clarificanon dated August 30. 2021 on Guidelines on Compensation of Whole Time Directors / Chicf Executive officers / Matenal Risk Takers and Control Function Staff, advised Banks that the falr value of share,rmed instruments on the date of grant should be rccognised as an expense for an ilistlunents granted after the accounting penod endirig March 31, 2021. Accordintly. the Bank has changed its accounting policy from the intrinsicvaluemethodtothefairvaluemethodforallshare-linkedinstrumentsgrantedafterMarch31.2021.Thefairvalueofthestock-basedcompensationis estmatcd on the date of grant using Black-Scholes model and is recognised as compensation expense over the vcsting penod. The Bank granted stock options in May 2021 and September 2021 under its Employee Stock option Scheme 03SOS) and as a result. `Employees cost' for the quarter and half year ended September 30, 2021 is higher by Rs. 3.60 crores with a consequent reduction in profit after tax.2TheworlchgI.esultsforthequarler/halfyearendedScptcmber30,2021havebeenarnvcdataftercousidermg provision for standard assets, including
• provision for exposures to entitles with Unhcdged Foreigli ainezicy Exposure. Don-performmg assets a`TPAs), dapreciation on investments, Income-tax and other usual and ncoessary provisions .
• 3 The above financial results for the quater / half year ended September 30, 2021 were subjected to a limited review by the Joint Statutory Auditors alanbhalrd & Co. LIJ' Chartered Accountants and M.P.Chitale & Co. Chartered Accountants) of the Bank. An unmodified report has been issued bythemthereon.ThesefinancialresultswerercviowedbytheAuditCommiteeeandsubsequentlyhavebeentakenonrecordandapprovedbytheBoarda Directors at its meedng held on October 27, 2021.The previous period results were reviewed / audited by Hanbhakti & Co. LIT Chartered Accountants.
• 4 RBI Master Circular DBR.No.BP.BC.I/21.06.20l/2015-16 dated July 01, 2015. as amended. on Basel Ill Capital Regulations contain guidelincs on certain Pillar 3 and leverage rat)o disclosure requirements that are to be made along with the publication of financial results. Accordingly, such applicabledisclosureshavebeenplacedonthewebsiteoftheBankwhichcanbeaccesscdatthefollowinglink: https://www.indusmd.com/in/en/personal/regulatoryrdisclosure.html These disclosures have neither been audited nor rgvienred by the Joint Statutory Auditors.5TheCapitalAdequacyRatioiscomputedonthebasisofREIguidelunesapplicableonthe relevant rcpormg dates and the ratio for the corresponding
• previous penod is not adjusted to consider the impact of subsequent changes if any, in the guidelines.
• 6 The "severe acute respiratory syndrome coronavinrs 2disruptiononsocio€conomicfrontacrossthecountry.withregardtoprovidingrelicftoborrowersonaccoaccordintlyofferedmoratoriumofloaninstalments2021hasStartedtosubsideandthelockdownsinmany (SARS{oV-2)", generally known as COVID-19 pandemic has led to an unprecedented level oIncompliancewiththeRBICircularsdatedMarch27,2020,Apnl17.2020andMay23,2020untofthepandemic,theBanklaiddownapolicydulyapprovedbytheBoardofDirectorsandandinterestpayablebychgibleborrowers.The`sccondwave.whichpeakedinApnl202l-Maystateshavebeenliftedresulthginnearnomaleconomicactivity.Invicwofthesame,theBank has made regulatory, floating, counEr cyclical and/or condngent provisions, taking the total amount of such provisrous to Rs. 3,515 crores as oSaptembcr30,2021,includinganamountofRs.1,435croreinrespectofboIToweraccountsrcstnicturedinaccordancewithResolutionFrameworkforCovid-19relatedstress.TheprovisionsheldbytheBankarehigherthantheprovisionrcquircdundertheRBIMasterCircularonIncome RecognitionandAssetChassificationandtheRBICircularsonCOVID-19RegulatoryPackageonAssetClassificationandProvisioningandResolution framework.7Duringthe qunrter and halfyeaT ended September 30. 2021, the Bank utlised floating provision amounting to Rs. 125 crores against non prefozmmgassetsinaccordancewithRBICircularonUtilisationofFloatingPtovisions/CounterCyclicalProvisioningBufferdatedMay05,2021.8(i)DetailsofresolutionplanimplementcdundertheResolutionFrameworkforCOVID-19relatedstressasperRBIorailardatedAugust06,2020arc
• given below QBI Resolution framework I.0):

Type of borrower	(A) Nunbcr of accounts where resolution plan has been implcmentedunderthrowindow	a) exposure to accounts mentioned amount of debt at (A) before inplementation of the plan	(C) that was conver(ed into other secunties	(Rs in crores except nunbcr of accounts) a)) Of a), aggregate Additiond fending Increase in sanctioncd, if any. provisious on including between invocation of the plan andimplementation	a3) account of the implrmentation of the resolutionplan
/`\ P sonalLoaus ' rel(ii)Cori)orate Persons	20876	43 1 . I 8			30.79
	10	2.747.05	9.62	33.60	354.05
Or which MSREs
( 1Cnhers ulTtal
	20886	3.178.23	9.62	33.60	384.84
_--------_ -I---i<br>#ff:=%:AF¥::L#:¥#¥n#;gel;unan±E£¥;d£#9db6er=3er::2¥2 ]apt::c;t stated in c §jd¥:ben#L::n:o:p:ae:TToca±£:o;oef ::an					.:--J--

					t number of accounts
Type of borrower	(A) Exposure to accounts classified as Standard consequent to implementation ofresofution plan- Position as at the cnd of the previous half year(I)	Of (A), aggregate debt that slipped into NPA dung the half-yeaf(2)	Of (A) amount wntten off during the half-year(3)	Or (A) amount paid by the bonowers dunng the half- year	Exposure to accounts classified as Standard consequent to implementation of resolution plan - Position as at the end of this half ycar(4)
Personal Ifoans
Of which usREs

(I ) Includes restructumg impl€mented during the quarter ended June 2021 under Resolution Framework 1.0

(2) Exposure is as on March 31, 2021

(3) Exposure rs as on September 30.2021

(4)RapresentsdebtthatslippedintoNPAandwassubsequentlywnttenoffdumgthehalfyear

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

(u)DetadsofresolutionplaninplementedundertheResolutionFrameworkforCOVID-19relatedstressofhdividualsandSniallBusinessasperRBI cmcular dated May 05 , 2021 are given below QBI Resolution framc'work 2.0):

		number of accounts
	Personal Loans
resolution Number of rc uests received for invo
lan has been im lemented under this window Number of accounts where resolution
lcmentation of the osure to accounts mentioned at 8
te amount of debt that was converted into other sccunties
if any, including between invocation Of de plan and E) Additional fundmg sanctioned,
1cmentation
ovisious on account of the im 1ementation of the resolution Increase in

Exposue in above table represents Fund and non Fund Based exposure.

Therewcre93borrowerwithcxposueOfRs.5.73crore.whcreresolutionplanwasearlierinplenentedunderRBIresolutionframework1.0andnow modified under RBI resolution framework 2.0.

9 ± the quarter and half year ended September 30, 2021, the Bank allotted 242,410 shares and 746.895 shares respectively, pursuant to the cxcrase of stock options by certain employees.

10 a) Networth is calculated as per the Master Circular -Exposure Noms issued by the RBI

b) Debt represents borrowirig with Residual maturLty of more than one year.

c) Total Debt represents total borrowings of the Bank.

I 1 Previous penods / year figures have been regrouped / reclassified, w to oulTcnt penod classification.

•alumbai October 27, 2021

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

	As at 30.09.2021	As at 30.09.2020	As at 31.03.2021
	(unaudited)	(unaudited)	(audited)
CAPITAL AND LIABILITIES
Capital	77412	75645	77337
Employee Stock Options Outstanding	902	958	541
Share Warrants Subscription Money	$\equiv$	67382
Reserves and Surplus	4433328	3812684	4258663
Deposits	27547271	22827927	25620496
Borrowings	4629540	5238508	5132281
Other Liabilities and Provisions	1360753	1195770	1207957
Total	38049206	33218874	36297275
ASSETS
Cash and Balances with Reserve Bank of India	1309684	817826	1787068
Balances with Banks and Money at Call and Short Notice	5373580	3725914	3845651
Investments	6928584	6299420	6969471
Advances	22080757	20124683	21259541
Fixed Assets	182530	182303	180937
Other Assets	2174071	2068728	2254607
Total	38049206	33218874	36297275

ρ Sumant Kathpalla Managing Director

$\mathbf{Mumbai}$ October 27, 2021

AKTI & MUMBAI RED ACC

Regd. Office: 2401, Gen. Thimmayya Road, Cantonment, Pune 411 001	CIN: L65191PN1994PLC076333
Standalone Cash Flow Statement
			(Rs. in lakhs)
	Half year ended 30.09.2021 (unaudited)	Half year ended 30.09.2020 (unaudited)	Year ended 31.03.2021 (audited)
1 Cash flows from operating activities
Net Profit before taxation	275764	146854	378414
Adjustments for:
Depreciation on Fixed assets	15605	14920	30541
Depreciation on Investments	17709	36359	60881
Employees Stock Option expenses	722	10	14
Loan Loss and Other Provisions	337029	385974	733372
Amortisation of premium on HTM investments	18684	9711	23941
Dividend from subsidary			(6000)
(Profit) / Loss on sale of fixed assets	12	24	(142)
Operating Profit before Working Capital changes	665525	593852	1221021
Adjustments for:
(Increase) / Decrease in Advances	(1158245)	167660	(1314597)
(Increase) / Decrease in Investments	4493	(347495)	(1056298)
(Increase) / Decrease in Other Assets	114165	143777	(29306)
Increase in Deposits	1926776	2623945	5416514
Increase in Other Liabilities	152796	288043	300232
Cash generated from / (used in) Operations	1705510	3469782	4537566
Direct Taxes paid (net of refunds)	(100546)	(1522)	(73009)
Net Cash generated from / (used in) Operating Activities	1604964	3468260	4464557
2 Cash flows from investing activities
Purchase of Fixed Assets (including WIP)	(17662)	(15363)	(30273)
Proceeds from sale of Fixed Assets	453 ×,	127	949 6000
Dividend from subsidiary Net Cash used in Investing Activities	(17209)	(15236)	(23324)
3 Cash flows from financing activities
Proceeds from issue of equity shares (net of issue expenses)	4019	326786	533495
Dividends paid	(38699)	٠	$\overline{\phantom{a}}$
Proceeds from issue of share warrants	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$	$\overline{\phantom{a}}$
Increase/(Decrease) in Borrowings	(502741)	(836847)	(943074)
Net Cash generated from / (used in) Financing Activities	(537421)	(510061)	(409579)
4 Effect of foreign currency translation reserve	211	411	699
$5$ Net increase in cash and cash equivalents $(1+2+3+4)$	1050545	2943374	4032353
6 Cash and cash equivalents at beginning of period	5632719	1600366	1600366
7 Cash and cash equivalents at end of period (5+6)	6683264	4543740	5632719

Mumbai October 27, 2021

AKTI & $\frac{1}{2}$ $\frac{1}{2}$ * H MUMBAI TED ACC

$Bp$

$\mathcal{O}$ lсл Sumant Kathpalia
Managing Director

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

Segment Reporting for the quarter/half year ended September 30, 2021

Business Segments:

				Standalone
			Quarter ended		Halfyearended		Year ended
Sr.		30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.Z020	31.03.20Z1
No.	ParticuJaTs	(unaudited)	(unaudited)	(unaudlted)	(unaudlted)	(unandited)	(audited)
	(a)0)(ii) Segment Revenue :
	Treasury Operations	169501	195498	161724	364999	354078	666209
	Corporate / Wholesale Banking	218725	221342	215966	440067	428580	872989
	(iii) Retail Banking	610090	567854	505058	1177944	972339	2034546
	(iv) Other Banking Business	1385	2843	4577	4228	5522	17424
	Total I Items (i) to (lv) I	999701	987537	8873Z5	1987238	1760519	3591168
	Less : Inter-segment Revenue	50945	51960	14220	102905	19322	35327
	Total ltLcome	948756	935577	873105	1884333	1741197	3555841
a,)	Segment Results :
	(il(ii) Treasllry Operations	33749	55594	46864	89343	123965	195890
	Corporate / Wholesale Bank)ng	77519	73413	69375	150932	135761	299079
	(iii) Retail Banking	213638	190645	173059	404283	322548	702165
	(iv) Other Banking Business	531	1018	1530	1549	1832	6074
	Total I Items (i) to (iv) )	325437	320670	290828	646107	584106	1203208
	Add: Unallocated Revenue
	Less: Unallocated Expenses	7991	7614	7775	15605	14920	30541
	operating Profit	317446	313056	283053	630502	569186	1172667
	Less: Provisions & Contingencies	170336	184402	196444	354738	422332	794253
	Ne. Profro before tax	147110	128654	86609	275764	146854	378414
	Less: Taxes including Deferred Taxes	35757	31159	21905	66916	36086	94775
	Extraordinary Profit / Loss
	Nctprofit	111353	97495	64704	208848	110768	283639
(c)	Other [bformation :
	SegmentAssets
0	TI.easury Operations	10084158	10251563	8604819	10084158	8604819	9870083
(ii)	Cor )orate / Wholesale Bankini:	10930482	10217349	9218880	10930482	9218880	10602425
	(iii) Retail Banking	15701280	15528257	13994931	15701280	13994931	14416860
	(iv) Other Banking Business
	Unallocated Assets	1333286	1321279	1400244	1333286	1400244	1407907
	Total Assets	38049206	37318448	33218874	38049206	33Z18874	36297275
	Segment Liablllties
	(i)(ii) Treasury Operations	4708321	5007185	5335535	4708321	5335535	5207478
	Corporate / Wholesale Banking	9426748	9447587	9325909	9426748	9325909	10001770
	(iii)(iv) Retail Banking	18271595	17464653	13646595	18271595	13646595	15775198
	Other Banking Business
	Unallocated Liabilities	1130901	961873	954166	1130901	954166	976288
	Cat.ital & Other Reserves	4511641	4437150	3956669	4511641	3956669	4336541
	Total Liabilities	38049206	37318448	33Z18874	38049206	33218874	36297275

§ts

Os. itl lakbs)

"u"bou A LinKE±

Induslnd Bank Disclosure of Related party transactions (AS-18) for the half-year ended September 30, 2021

Following is the information on transactious with related parties for the half-year ended September 30, 2021

Key Management Persomel arm)

Mr. Sumant Kathpalia, Managing Director

Relatives of KMI'

Mrs. Ira Kathpalia, Mr. Karan Kathpalia

Assodates

lnduslnd Marketing and Financ'ial Services Private Limited

Subsidiaries

Bharat Financial Inclusion Limited (fomerly lnduslnd Financial Inclusion Limited)

Particulars				(Rs. in erores)
	Parent (as Per ormership control)*	Subsidiarics*	Associates/Joint Ventiire*	Key Management Personnel*	Relatives of Key Management Personnel	Total
Borrowings
Deposits					10.98 (11.38)	10.98 (11.38)
Placement of deposits
Advances
Investment
Non-funded commitments
Leasing/HP arrangements availed
Leasing/HP arrangements provided
Purchase of fixed assets
Sale of fixed assets
Interest paid					0.36	0.36
Interest received
Rendering of services
Receiving of services
Management contracts

*In accordance with RBI guidelines, details pertaining to the related party transactions have not been there is only one related party in each of the above categories. provided where

Figures in parenthesis represent maximum balance outstanding during the year

Oi`e India Bulls Center Office : lnduslnd Bank Limited, 8th Floor, Tower 1, One lndiabulls Centre, 841, S.B. Marg, Elphinstone Road (W), Mumbai -400 013, India Tel: (0022) 24231999

Registered Office : 2401 Gen. Thimmayya Poad, Pune 411 001, India Tel.: (020) 2634 3201 Fax: (020) 2634 3241 Vlsit us at www.indusind.com CI N: L65191 PN 1994PLC076333

Induslnd Bank Following is the infomation on transactions with related parties for the half-year ended September 30, 2020

Key Management Pcrsonnd a£MP)

Mr. Sumant Kathpalia, Managing Director

Relatives of Kro

hdrs. Ira Kathpalia, M, Karan Kathpalia

Assodatcs

lnduslnd Marketing and Financial Services Private Limited

Subsidiaries

Bharat Financial Inclusion Limited (formerly Induslnd Financial Inclusion Linited)

				aLs. in crores)
Pariculars	Parent (as I,er ownership control)*	Subsidiaries*	Associates/Joint Venture*	Key Management Personncl*	Relatives of Key Management Persormel	Total
Borrowings
Deposits					10.51 (11.07)	10.51 (11.07)
Placement of deposits
Advances
Investment
Non-funded commitments
Leasing/HP arrangements availed
Leasing/HP arrangements provided
Purchase of fixed assets
Sale of fixed assets
Interest paid					0.37	0.37
Interest received
Rendering of services
Receiving of services
Management contracts

*In accordance with RBI guidelines, details pertaining to the related party transactions have not been provided where there is only one related party in each of the above categories.

Figures in parenthesis represent maximum balance outstanding during the year.

One India Bulls Center Office : lnduslnd Bank Limited, 8th Floor, Tower 1, One lndiabulls Centre, 841, S.B. Marg, Elphinstone Road (W), Mumbai -400 013, India Tel: (0022) 24231999

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 : L65191 PN 1994PLC076333