HDFC Securities Limited Unlisted Shares

Annual Report Summary

The document is a letter from HDFC Securities Limited to BSE Limited, dated April 14th, 2023, regarding the submission of audited financial results for the year ended March 31st, 2023. This submission is made under Regulation 52 (1) and (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The letter states that the commercial papers issued by HDFC Securities Limited were listed on the Stock Exchange starting January 15th, 2020. A copy of the audited financial results under IND-AS for the year ending March 31st, 2023, approved by the Board of Directors on April 14th, 2023, is enclosed, along with the report of the statutory auditors.

The document also includes an independent auditor's report from BSR & Co. LLP, Chartered Accountants, to the Board of Directors of HDFC Securities Limited. BSR & Co. LLP reports on the audit of the annual financial results. Their opinion is that the annual financial results for the year ended March 31st, 2023, are presented in accordance with Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021. Furthermore, they give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2023.

The auditor's responsibilities include obtaining reasonable assurance about whether the annual financial results are free from material misstatement and issuing an auditor's report that includes their opinion. They are also responsible for identifying and assessing the risks of material misstatement, obtaining an understanding of internal control relevant to the audit, evaluating the appropriateness of accounting policies used, and concluding on the appropriateness of management's use of the going concern basis of accounting. The annual financial results include the results for the quarter ended 31 March 2023 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

The document also includes the Statement of Assets and Liabilities. As of March 31, 2023, HDFC Securities Limited's Total Assets was 8,26,800 lacs as compared to March 31, 2022, where the Total Assets was 7,92,254. On March 31, 2023 the Total Liabilities and Equity was 8,26,800 lacs as compared to March 31, 2022, where the Total Liabilities and Equity was 7,92,254.

The document includes the Statement of Audited Financial Results for the quarter and year ended 31 March 2023. The Total Income for the year ending March 31, 2023 was 1,89,163 lacs as compared to March 31, 2022, where the Total Income was 1,99,031. The Profit for the period/year (V-VI) was 77,722 lacs, as compared to March 31, 2022, where the Profit for the period/year (V-VI) was 98,434 lacs.

The document includes the Cash Flow Statement for the quarter and year ended 31 March 2023. The Net Cash used in operating activities as of March 31, 2023 was 37,088, as compared to March 31, 2022, where the Net Cash used in operating activities was (86,184).

During the period, the Company had declared and paid interim dividend_1 of 110 per share amounting to 17,412 lacs, interim dividend_2 of 110 per share amounting to 17,447 lacs, interim dividend_3 of 110 per share amounting to 17,448 lacs and interim dividend_4 of 110 per share amounting to 17,484 lacs including tax deduction at source. During the period, the Company had issued commercial papers of 18,56,600 lacs and redeemed commercial papers of 18,71,600 lacs.

The document also includes the Details of Commercial Papers matured during the year ended 31 March 2023.