Financials

Unaudited Standalone Financial Results

GIC HOUSING FINANCE LTD.
CIN: L65922MH1989PLC054583
Regd. Office : 6th Floor, National Insurance Building, 14, Jamshedji Tata Road, Churchgate, Mumbai - 400 020.
Statement of Audited Standalone Financial Results for the Quarter and Year Ended March 31, 2024

							(₹ in Lakh)
Sr. No.	Particulars		Quarter Ended			Year Ended
			31-03-2024	31-12-2023	31-03-2023	31-03-2024	31-03-2023
			(Audited)	(Reviewed)	(Audited)	(Audited)	(Audited)

1	Revenue from operations
	(i)	Interest Income	25,593	25,860	27,568	1,04,272	1,09,863
	(ii)	Dividend Income	-	-	-	13	13
	(iii)	Fees and Commission Income	165	124	125	516	529
	(iv)	Other Operating Income	245	127	424	915	1,085
	Total Revenue from operations		26,003	26,111	28,117	1,05,716	1,11,490
		Other Income	550	178	622	1,248	1,398
	Total Income		26,553	26,289	28,739	1,06,964	1,12,888

2	Expenses
	(i)	Finance Cost	17,233	17,572	17,819	71,038	70,249
	(ii)	Net Loss on De-recognition of Financial Instruments under Amortised Cost Category	(1)	6	(14)	15	15
	(iii)	Impairment of Financial Instruments, including write-off	(2,206)	1,327	(683)	1,821	1,742
	(iv)	Employee Benefits Expenses	1,551	1,672	2,247	6,342	5,989
	(v)	Depreciation & Amortisation Expenses	383	390	347	1,502	994
	(vi)	Other Expenses	1,683	1,092	1,271	5,855	4,919
	Total Expenses		18,643	22,059	20,987	86,573	83,908

3	Profit before exceptional items and tax (1-2)		7,910	4,230	7,752	20,391	28,980

4	Exceptional items		-	-	-	-	-

5	Profit before tax (3-4)		7,910	4,230	7,752	20,391	28,980

6	Tax expense
	(i)	Current Tax	1,275	850	(1,550)	4,225	3,450
	(ii)	Deferred tax (Net)	1,251	(180)	4,073	1,025	4,210
	(iii)	Tax of Earlier Period (Net)	25	-	-	25	-

7	Net Profit for the period (5-6)		5,359	3,560	5,229	15,116	21,320

8	Other comprehensive Income
	A. Items that will not be reclassified to profit or loss
	(i)	Remeasurement Gain / (Loss) on defined benefit plan	2	(63)	(112)	(51)	(71)
	(ii)	Net Gain on equity instrument designated at FVTOCI	73	261	16	373	7
	(iii)	Income tax relating to items that will not be reclassified to profit or loss	(19)	(50)	24	(81)	16

	B. Items that will be reclassified to profit or loss		-	-	-	-	-
	Total other comprehensive Income (A+B)		56	148	(72)	241	(48)

9	Total Comprehensive Income (7+8)		5,415	3,708	5,157	15,357	21,272

10	Paid up Equity Share Capital (Face value ₹ 10/-)		5,385	5,385	5,385	5,385	5,385

11	Reserves as at 31st March		-	-	-	1,77,477	1,64,543

12	Earning Per Share (EPS) on Face Value ₹ 10/-
	Basic and Diluted Earning Per Share (Face value ₹ 10/-) (The EPS for the quarter is not annualised)		9.95	6.61	9.71	28.07	39.59

Notes to the Standalone Financial Results:

1	Statement of Standalone Assets and Liabilities			(₹ in Lakh)
Sr.No.	Particulars		As at	As at
			31-03-2024	31-03-2023
			(Audited)	(Audited)
	ASSETS
1	Financial Assets
(a)	Cash and cash equivalents		3,575	6,964
(b)	Bank balance other than cash and cash equivalent		409	1,924
(c)	Receivables
	(i) Trade Receivables		38	26
(d)	Loans		9,98,536	10,32,824
(e)	Investments		16,920	23,007
(f)	Other financial assets		256	263
	Total - Financial Assets		10,19,734	10,65,008
2	Non-financial assets
(a)	Current tax assets (net)		3,575	4,167
(b)	Deferred tax assets (net)		7,414	8,520
(c)	Property, plant and equipment		347	257
(d)	Right Of Use Assets		1,897	2,325
(e)	Intangible Assets Under Development		1,005	882
(f)	Other intangible assets		2,119	2,640
(g)	Other non-financial assets		970	588
(h)	Assets Held for Sale		9,981	7,630
	Total - Non Financial Assets		27,308	27,009

	Total Assets		10,47,042	10,92,017

	LIABILITIES AND EQUITY
	LIABILITIES

1	Financial liabilities
(a)	Lease Liabilities		2,111	2,522
(b)	Payables
	(i) Trade Payable
		-Total outstanding dues of micro enterprises and small enterprises	4	9
		-Total outstanding dues of creditors other than micro enterprises and small enterprises	1,035	789
(c)	Debt securities		73,044	1,12,564
(d)	Borrowings (other than debt securities)		7,83,285	8,01,708
(e)	Other financial liabilities		1,699	1,938
	Total - Financial Liabilities		8,61,178	9,19,530

2	Non-financial liabilities

(a)	Current tax liabilities (Net)		167	-
(b)	Provisions		2,072	1,650
(c)	Other Non Financial Liabilities		760	906
	Total - Non Financial Liabilities		2,999	2,556

3	Equity
(a)	Equity Share Capital		5,388	5,388
(b)	Other Equity		1,77,477	1,64,543
	Total - Equity		1,82,865	1,69,931

	Total Liabilities and Equity		10,47,042	10,92,017

2 Standalone Cash Flow Statement		(₹ in Lakh)
Particulars	For the Year Ended	For the Year Ended
	31-03-2024	31-03-2023
	(Audited)	(Audited)

A.Cash Flow From Operating Activities :
Profit Before Tax	20,391	28,980

Adjustments For :
Depreciation And Amortisation	1,502	994
Impairment of Financial Instruments	1,821	1,742
Interest and Dividend Income	(1,04,285)	(1,09,876)
Interest Expenses	71,038	70,249
Fees & Commission Income	(516)	(529)
(Profit)/Loss On Sale Of Fixed Assets (Net)	-	(1)
(Profit)/Loss On Sale Of Investments	(271)	(786)
Remeasurement Gain/(loss) on Defined Benefit Plan	(51)	(71)
Operating Profit Before Working Capital Changes	(10,371)	(9,298)

Adjustments For :
(Increase)/Decrease In Non Financial Assets	(44)	(1,852)
(Increase)/Decrease In Other Financial Assets	7	(11)
(Increase)/Decrease In Other Non Financial Assets	(382)	8
(Increase)/Decrease In Bank Balance other than cash & cash equivalents	1,515	(1,521)
Increase/(Decrease) In Other Non Financial Liabilities	443	498
Increase/(Decrease) In Trade Payables	241	(307)
Increase/(Decrease) In Other Financial Liabilities	127	1,272
Operating Profit After Working Capital Changes	(8,464)	(11,211)

Adjustments For :
(Increase)/Decrease Housing Loans	32,414	85,415
Asset held for Sale	(2,350)	(4,365)
Fees & Commission Received	504	525
Interest Received	1,04,324	1,10,412
Interest Paid	(70,242)	(70,040)
Taxes Paid	(3,986)	(6,352)
Net Cash Generated/(Used) From Operating Activity	52,200	1,04,384

B:Cash Flow From Investment Activities
Payments for Property, Plant & Equipments	(219)	(140)
Proceeds from Sale of Property, Plant & Equipments	6	3
Payments for Intangible assets Under Developments	(181)	(463)
Purchase Of Investments	(2,70,590)	(5,74,884)
Sale Of Investments	2,77,321	5,54,186
Dividend Received	13	13
Net Cash Generated/(Used) From Investing Activity	6,350	(21,285)

C: Cash Flow From Financing Activities
Proceeds From Borrowings and Debt Securities	5,39,501	3,38,012
Repayment of Borrowings and Debt Securities	(5,98,075)	(4,58,543)
Dividend Paid On Equity Shares	(2,423)	(2,423)
Payment of lease liabilities	(942)	(882)
Net Cash Generated/(Used) From Financing Activity	(61,939)	(1,23,836)

Net Increase/(Decrease) Of Cash & Cash Equivalents (A+B+C)	(3,389)	(40,737)
Cash & Cash Equivalents As At Beginning of the year	6,964	47,701
Cash & Cash Equivalents As At the End of the Period	3,575	6,964


3	The above audited standalone financial results have been prepared in accordance with and comply in all material aspects with the Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules, 2015 (as amended) and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
4	The Board has recommended a dividend of ₹. 4.5 per equity share of ₹ 10/- each (45%) subject to approval of the members of the company at the forthcoming Annual General Meeting.
5	The main business of the Company is to provide loans for purchase or construction of residential houses. All other activities of the Company revolve around the main business and accordingly there are no separate reportable segments, as per the Ind AS 108- Operating Segments.
6	The Indian Parliament has approved the Code on Social Security, 2020, which would impact the contributions by the Company towards Provident Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified and the final rules are yet to be framed. The Company will carry out an evaluation of the impact and record the same in the financial results in the period in which the code becomes effective and related rules are published.
7	Disclosure as required under RBI Circular No. RBI/2020-21/16 DOR.No.BP.BC/3/21.04.048/2020-21 dated August 6, 2020 in relation of the Resolution Framework for COVID-19-related Stress:
						₹ in Lakh
	Type of borrower	(A)	(B)	(C)	(D)	(E)
	Type of borrower	Exposure to Accounts classified as Standard consequent to a Implementation of resolution plan at September 30, 2023	of ( A ) , aggregate debt that slipped Into NPA during the half year	of ( A ) , amount written off during the half year	of ( A ) , amount paid by the borrowers during the half year	Exposure to Accounts classified as Standard consequent to a Implementation of resolution plan - Position as at March 31, 2024
	Personal loan	1,897	129	-	76	1,692
	Corporate persons	-	-	-	-	-
	Of which , MSMES	-	-	-	-	-
	Others	-	-	-	-	-
	Total	1,897	129	-	76	1,692

8	There are no loans transferred / acquired during the quarter and year ended March 31, 2024 under the RBI Master direction on Transfer of Loan Exposure dated September 24, 2021.
9	Information as required by Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is attached in Annexure I.
10	Pursuant to Regulations 54 of SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, all Secured Non-Convertible Debentures (NCDs) issued by the Company and outstanding as on March 31, 2024 are fully secured by way of charge on identified receivables of the company. Accordingly, the Company is maintaining asset cover of 1x or such higher asset cover required as per the terms of offer document.
11	The Company is a Large Corporate as per criteria stipulated under SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018 and necessary disclosure has been made to the stock exchange.
12	The Company is a Housing Finance Company classified under "Middle Layer" pursuant to Scale Based Regulations prescribed by the RBI vide its circular Ref. No. RBI/2021-22/112 DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22,2021.
13	In compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the above standalone financial results for the quarter and year ended March 31, 2024 have been audited by the Statutory Auditors of the Company, reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors at their respective meeting held on May 13, 2024.
14	The figures for the quarter ended March 31, 2024 and March 31, 2023 are the balancing figures between audited figures in respect of the year ended March 31, 2024 and March 31, 2023 and the reviewed figures in respect of nine months ended December 31, 2023 and December 31, 2022 respectively.
15	The figures for the previous periods / year have been regrouped / reclassified wherever necessary in order to make them comparable with figures for the quarter and year ended March 31, 2024.

					For and on behalf of the Board




					Paul Lobo
					Managing Director & CEO
					DIN No: 09787223
	Place : Mumbai
	Date : May 13, 2024

Annexure - I
Sr. No.	Ratio	Quarter Ended			Year Ended
Sr. No.	Ratio	31-03-2024	31-12-2023	31-03-2023	31-03-2024	31-03-2023
		(Audited)	(Reviewed)	(Audited)	(Audited)	(Audited)
a	Debt- Equity Ratio (in times)	4.68	4.82	5.38	4.68	5.38
b*	Debt-Service Coverage Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
c*	Interest Service Coverage Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
d	Outstanding redeemable preference shares (quantity and value)	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
e	Capital redemption reserve / Debenture redemption reserve	-	-	-	-	-
f	Net worth (₹ in Lakh)	1,82,865	1,77,450	1,69,931	1,82,865	1,69,931
g	Net Profit after tax (₹ in Lakh)	5,359	3,560	5,229	15,116	21,320
h	Earning per share (not annualised)
	1. Basic	9.95	6.61	9.71	28.07	39.59
	2. Diluted	9.95	6.61	9.71	28.07	39.59
i*	Current Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
j*	Long term debt to working capital	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
k	Bad debts to Account receivable ratio (Not annualised)	0.16%	-	1.52%	0.16%	1.52%
l*	Current Liability Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
m	Total debts to total assets (%)	81.79%	82.10%	83.72%	81.79%	83.72%
n*	Debtors turnover	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
o*	Inventory turnover	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
p*	Operating Margin (%)	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
q	Net Profit Margin (%)	20.18%	13.54%	18.19%	14.13%	18.89%
r	Sector specific equivalents ratios, as applicable
	i. Stage 3 Ratio (%)	3.72%	4.41%	4.43%	3.72%	4.43%
	ii. Provision Coverage Ratio (%)	32.55%	36.78%	32.16%	32.55%	32.16%

Formula for Computation of ratios are as follows:

a	Debt equity ratio = (Debt Securities + Borrowings [Other than Debt Securities]) / Networth
f	Networth = Equity Share Capital + Other Equity
k	Bad Debts to Account Receivable ratio = Bad Debts Written Off / (Total Loan Book + Trade Receivables)
m	Total debts to total assets (%) = (Debt Securities + Borrowings [Other than Debt Securities]) / Total Assets
q	Net Profit Margin (%) = Net Profit after tax/ Total Income
r	i. Stage 3 Ratio = Gross Stage III Loan outstanding / Total Loan Outstanding
r	ii. Provision Coverage Ratio = Allowance for bad and doubtful debts for Gross Stage III Loan Book / Gross Stage III Loan Book

*	Since the Company is a Housing Finance Company ('HFC'), disclosure of Debt service coverage ratio, Interest service coverage ratio, Current ratio, Long term debt to working capital, Current liability ratio, Debtors turnover ratio, Inventory turnover ratio and Operating Margin Ratio are not applicable since the Company is engaged in financing activities.

Unaudited Consolidate Financial Results

GIC HOUSING FINANCE LTD.
CIN: L65922MH1989PLC054583
Regd. Office : 6th Floor, National Insurance Building, 14, Jamshedji Tata Road, Churchgate, Mumbai - 400 020.
Statement of Audited Consolidated Financial Results for the Quarter and Year ended March 31, 2024

							(₹ in Lakh)
Sr. No.	Particulars		Quarter ended			Year ended
			31-03-2024	31-12-2023	31-03-2023	31-03-2024	31-03-2023
			(Audited)	(Reviewed)	(Audited)	(Audited)	(Audited)

1	Revenue from operations
	(i)	Interest Income	25,593	25,860	27,568	1,04,272	1,09,863
	(ii)	Dividend Income	-	-	-	13	13
	(iii)	Fees and Commission Income	165	124	125	516	529
	(iv)	Other Operating Income	245	127	424	915	1,085
	Total Revenue from operations		26,003	26,111	28,117	1,05,716	1,11,490
		Other Income	551	179	623	1,252	1,400
	Total Income		26,554	26,290	28,740	1,06,968	1,12,890

2	Expenses
	(i)	Finance Cost	17,233	17,572	17,819	71,038	70,249
	(ii)	Net Loss on De-recognition of Financial Instruments under Amortised Cost Category	(1)	6	(14)	15	15
	(iii)	Impairment of Financial Instruments, including write-off	(2,206)	1,327	(683)	1,821	1,742
	(iv)	Employee Benefits Expenses	1,576	1,688	2,248	6,400	5,993
	(v)	Depreciation & Amortisation Expenses	383	390	347	1,502	994
	(vi)	Other Expenses	1,648	1,071	1,267	5,776	4,912
	Total Expenses		18,633	22,054	20,984	86,552	83,905

3	Profit before exceptional items and tax (1-2)		7,921	4,236	7,756	20,416	28,985

4	Exceptional items		-	-	-	-	-

5	Profit before tax (3-4)		7,921	4,236	7,756	20,416	28,985

6	Tax expense
	(i)	Current Tax	1,278	851	(1,550)	4,231	3,450
	(ii)	Deferred tax (Net)	1,251	(180)	4,073	1,025	4,210
	(iii)	Tax of Earlier Period (Net)	25	-	-	25	-

7	Net Profit for the period (5-6)		5,367	3,565	5,233	15,135	21,325

8	Other comprehensive Income
	A. Items that will not be reclassified to profit or loss
	(i)	Remeasurement Gain / (Loss) on defined benefit plan	2	(63)	(112)	(51)	(71)
	(ii)	Net Gain on equity instrument designated at FVTOCI	73	261	16	373	7
	(iii)	Income tax relating to items that will not be reclassified to profit or loss	(19)	(50)	24	(81)	16

	B. Items that will be reclassified to profit or loss		-	-	-	-	-
	Total other comprehensive Income (A+B)		56	148	(72)	241	(48)

9	Total Comprehensive Income (7+8)		5,423	3,713	5,161	15,376	21,277

	Net Profit for the period attributable to:
	(i)	Owners of the Company	5,367	3,565	5,233	15,135	21,325
	(ii)	Non-Controlling Interest	-	-	-	-	-

	Other Comprehensive Income attributable to:
	(i)	Owners of the Company	56	148	(72)	241	(48)
	(ii)	Non-Controlling Interest	-	-	-	-	-

	Total Comprehensive Income attributable to:
	(i)	Owners of the Company	5,423	3,713	5,161	15,376	21,277
	(ii)	Non-Controlling Interest	-	-	-	-	-

10	Paid up Equity Share Capital (Face value ₹ 10/-)		5,385	5,385	5,385	5,385	5,385

11	Reserves as at 31st March		-	-	-	1,77,495	1,64,542

12	Earning Per Share (EPS) on Face Value ₹ 10/-
	Basic and Diluted Earning Per Share (Face value ₹ 10/-) (The EPS for the period is not annualised)		9.97	6.62	9.72	28.11	39.60

Notes to the Consolidated Financial Results:

1	Statement of Consolidated Assets and Liabilities			(₹ in Lakh)
Sr.No.	Particulars		As at	As at
			31-03-2024	31-03-2023
			(Audited)	(Audited)

	ASSETS
1	Financial Assets
(a)	Cash and cash equivalents		3,586	6,970
(b)	Bank balance other than cash and cash equivalent		479	1,991
(c)	Receivables
	(i) Trade Receivables		38	26
(d)	Loans		9,98,536	10,32,824
(e)	Investments		16,845	22,932
(f)	Other financial assets		266	263
	Total - Financial Assets		10,19,750	10,65,006

2	Non-financial assets
(a)	Current tax assets (net)		3,581	4,169
(b)	Deferred tax assets (net)		7,414	8,520
(c)	Property, plant and equipment		347	257
(d)	Right Of Use Assets		1,897	2,325
(e)	Intangible Assets Under Development		1,005	882
(f)	Other intangible assets		2,119	2,640
(g)	Other non-financial assets		962	588
(h)	Assets Held for Sale		9,981	7,630
	Total - Non Financial Assets		27,306	27,011

	Total Assets		10,47,056	10,92,017

	LIABILITIES AND EQUITY
	LIABILITIES
1	Financial liabilities
(a)	Lease Liabilities		2,111	2,522
(b)	Payables
	(i) Trade Payable
		-Total outstanding dues of micro enterprises and small enterprises	4	9
		-Total outstanding dues of creditors other than micro enterprises and small enterprises	1,057	793
(c)	Debt securities		73,044	1,12,564
(d)	Borrowings (other than debt securities)		7,83,285	8,01,708
(e)	Other financial liabilities		1,673	1,935
	Total - Financial Liabilities		8,61,174	9,19,531

2	Non-financial liabilities
(a)	Current tax liabilities (Net)		167	-
(b)	Provisions		2,072	1,650
(c)	Other Non Financial Liabilities		760	906
	Total - Non Financial Liabilities		2,999	2,556

3	Equity
(a)	Equity Share Capital		5,388	5,388
(b)	Other Equity		1,77,495	1,64,542
	Total - Equity		1,82,883	1,69,930

	Total Liabilities and Equity		10,47,056	10,92,017

2 Consolidated Cash Flow Statement		(₹ in Lakh)
Particulars	For the Year Ended	For the Year Ended
	31-03-2024	31-03-2023
	(Audited)	(Audited)

A.Cash Flow From Operating Activities :
Profit Before Tax	20,416	28,985

Adjustments For :
Depreciation And Amortisation	1,502	994
Impairment of Financial Instruments	1,821	1,742
Interest and Dividend Income	(1,04,285)	(1,09,876)
Interest Expenses	71,038	70,249
Fees & Commission Income	(516)	(529)
(Profit)/Loss On Sale Of Fixed Assets (Net)	-	(1)
(Profit)/Loss On Sale Of Investments	(271)	(786)
Remeasurement Gain/(loss) on Defined Benefit Plan	(51)	(71)
Operating Profit Before Working Capital Changes	(10,346)	(9,293)

Adjustments For :
(Increase)/Decrease In Non Financial Assets	(55)	(1,855)
(Increase)/Decrease In Other Financial Assets	(3)	(18)
(Increase)/Decrease In Other Non Financial Assets	(374)	8
(Increase)/Decrease In Bank Balance other than cash & cash equivalents	1,512	(1,587)
Increase/(Decrease) In Other Non Financial Liabilities	443	498
Increase/(Decrease) In Trade Payables	259	(302)
Increase/(Decrease) In Other Financial Liabilities	105	1,269
Operating Profit After Working Capital Changes	(8,459)	(11,280)

Adjustments For :
(Increase)/Decrease Housing Loans	32,414	85,415
Asset held for Sale	(2,350)	(4,365)
Fees & Commission Received	504	525
Interest Received	1,04,324	1,10,412
Interest Paid	(70,242)	(70,040)
Taxes Paid	(3,986)	(6,352)
Net Cash Generated/(Used) From Operating Activity	52,205	1,04,315

B:Cash Flow From Investment Activities
Payments for Property, Plant & Equipments	(219)	(140)
Proceeds from Sale of Property, Plant & Equipments	6	3
Payments for Intangible assets Under Developments	(181)	(463)
Purchase Of Investments	(2,70,590)	(5,74,884)
Sale Of Investments	2,77,321	5,54,186
Dividend Received	13	13
Net Cash Generated/(Used) From Investing Activity	6,350	(21,285)

C: Cash Flow From Financing Activities
Proceeds From Borrowings and Debt Securities	5,39,501	3,38,012
Repayment of Borrowings and Debt Securities	(5,98,075)	(4,58,543)
Dividend Paid On Equity Shares	(2,423)	(2,423)
Payment of lease liabilities	(942)	(882)
Net Cash Generated/(Used) From Financing Activity	(61,939)	(1,23,836)

Net Increase/(Decrease) Of Cash & Cash Equivalents (A+B+C)	(3,384)	(40,806)
Cash & Cash Equivalents As At Beginning of the year	6,970	47,776
Cash & Cash Equivalents As At the End of the Period	3,586	6,970


3	The above audited consolidated financial results represent the consolidated financial results for GIC Housing Finance Limited ("GICHFL") and its wholly owned subsidiary i.e. GICHFL Financial Services Private Limited ("GFSPL") constituting the Group.
4	The above audited consolidated financial results of the Group have been prepared in accordance with and comply in all material aspects with the lndian Accounting Standards ("Ind AS") as prescribed under section 133 of the Companies Act, 2013 ("the Act") read with the Companies (Indian Accounting Standards) Rules, 2015 (as amended) and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
5	The Board of GIC Housing Finance Limited ("Company") has recommended a dividend of ₹ 4.5 per equity share of ₹ 10/- each (45% ) subject to approval of the members of the company at the forthcoming Annual General Meeting.
6	The main business of the Group is to provide loans for purchase or construction of residential houses. All other activities of the Group revolve around the main business and accordingly there are no separate reportable segments, as per the Ind AS 108- Operating Segments.
7	The Indian Parliament has approved the Code on Social Security, 2020, which would impact the contributions by the Group towards Provident Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified and the final rules are yet to be framed. The Group will carry out an evaluation of the impact and record the same in the financial results in the period in which the code becomes effective and related rules are published.
8	Information as required by Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is attached in Annexure I.
9	Pursuant to Regulations 54 of SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, all Secured Non-Convertible Debentures (NCDs) issued by the Group and outstanding as on March 31, 2024 are fully secured by way of charge on identified receivables of the company. Accordingly, the Group is maintaining asset cover of 1x or such higher asset cover required as per the terms of offer document.
10	The Company is a Large Corporate as per criteria stipulated under SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018 and necessary disclosure has been made to the stock exchange.
11	In compliance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the above consolidated financial results for the quarter and year ended March 31, 2024 have been audited by the Statutory Auditors of the Company, reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors at their respective meeting held on May 13, 2024.
12	The figures for the quarter ended March 31, 2024 and March 31, 2023 are the balancing figures between audited figures in respect of the year ended March 31, 2024 and March 31, 2023 and the reviewed figures in respect of nine months ended December 31, 2023 and December 31, 2022 respectively.
13	The figures for the previous periods / year have been regrouped / reclassified wherever necessary in order to make them comparable with figures for the quarter and year ended March 31, 2024.


		For and on behalf of the Board




		Paul Lobo
		Managing Director & CEO
		DIN No: 09787223
	Place : Mumbai
	Date : May 13, 2024

Annexure - I
Sr. No.	Ratio	Quarter Ended			Year Ended
Sr. No.	Ratio	31-03-2024	31-12-2023	31-03-2023	31-03-2024	31-03-2023
		(Audited)	(Reviewed)	(Audited)	(Audited)	(Audited)
a	Debt- Equity Ratio (in times)	4.68	4.82	5.38	4.68	5.38
b*	Debt-Service Coverage Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
c*	Interest Service Coverage Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
d	Outstanding redeemable preference shares (quantity and value)	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
e	Capital redemption reserve / Debenture redemption reserve	-	-	-	-	-
f	Net worth (₹ in Lakh)	1,82,883	1,77,460	1,69,930	1,82,883	1,69,930
g	Net Profit after tax (₹ in Lakh)	5,367	3,565	5,233	15,135	21,325
h	Earning per share (not annualised)
	1. Basic	9.97	6.62	9.72	28.11	39.60
	2. Diluted	9.97	6.62	9.72	28.11	39.60
i*	Current Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
j*	Long term debt to working capital	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
k	Bad debts to Account receivable ratio (Not annualised)	0.16%	-	1.52%	0.16%	1.52%
l*	Current Liability Ratio	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
m	Total debts to total assets (%)	81.78%	82.10%	83.72%	81.78%	83.72%
n*	Debtors turnover	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
o*	Inventory turnover	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
p*	Operating Margin (%)	Not Applicable	Not Applicable	Not Applicable	Not Applicable	Not Applicable
q	Net Profit Margin (%)	20.21%	13.56%	18.21%	14.15%	18.89%
r	Sector specific equivalents ratios, as applicable
	i. Stage 3 Ratio (%)	3.72%	4.41%	4.43%	3.72%	4.43%
	ii. Provision Coverage Ratio (%)	32.55%	36.78%	32.16%	32.55%	32.16%

Formula for Computation of ratios are as follows:

a	Debt equity ratio = (Debt Securities + Borrowings [Other than Debt Securities]) / Networth

f	Networth = Equity Share Capital + Other Equity

k	Bad Debts to Account Receivable ratio= Bad Debts Written Off / (Total Loan Book + Trade Receivables)

m	Total debts to total assets (%) = (Debt Securities + Borrowings [Other than Debt Securities]) / Total Assets

q	Net Profit Margin (%) = Net Profit after tax/ Total Income

r	i. Stage 3 Ratio = Gross Stage III Loan outstanding / Total Loan Outstanding

r	ii. Provision Coverage Ratio = Allowance for bad and doubtful debts for Gross Stage III Loan Book / Gross Stage III Loan Book

*	Since the Company is a Housing Finance Company ('HFC'), disclosure of Debt service coverage ratio, Interest service coverage ratio, Current ratio, Long term debt to working capital, Current liability ratio, Debtors turnover ratio, Inventory turnover ratio and Operating Margin Ratio are not applicable since it is engaged in financing activities.

ଆର୍ଥିକ

Notes to the Standalone Financial Results:

Notes to the Consolidated Financial Results: