HDFC Securities Limited Unlisted Shares

Financial Report Summary

The document comprises HDFC Securities Limited's submission of audited financial results for the year ended March 31, 2024, compliant with Regulation 52 (1) (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission, dated April 12, 2024, also includes the report of the statutory auditors. Commercial papers issued by the company were listed on the stock exchange with effect from January 15th, 2020.

Auditor's Report:

S.R. Batliboi & Co. LLP, Chartered Accountants, conducted an independent audit on the quarterly and year-to-date financial results. Their opinion, based on the information provided and explanations given, states that the financial results are presented in accordance with the Listing Regulations and provide a true and fair view of the net profit, other comprehensive income, and financial information of the company for the quarter and year ended March 31, 2024, conforming to applicable accounting standards and principles generally accepted in India. The audit was conducted as per the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013.

Statement of Assets and Liabilities (in Lacs):

• Total Assets: Increased from ₹8,27,654 as of March 31, 2023, to ₹14,10,307 as of March 31, 2024.
• Financial Assets: Increased from ₹7,99,943 to ₹13,78,545. Key components include:
  • Cash and cash equivalents: Increased from ₹39,210 to ₹79,811.
  • Bank balances (other than cash equivalents): Increased from ₹3,19,980 to ₹4,57,774.
  • Trade Receivables: Increased from ₹40,727 to ₹1,28,657.
  • Loans: Increased from ₹2,74,757 to ₹6,02,524
  • Investments: Decreased from ₹1,21,361 to ₹1,00,533
  • Other financial assets: Increased from ₹3,908 to ₹9,246
• Non-Financial Assets: Increased from ₹27,711 to ₹31,762.
• Total Liabilities and Equity: Increased from ₹8,27,654 to ₹14,10,307.
• Total Financial Liabilities: Increased from ₹6,42,542 to ₹11,99,689.
• Total Non-Financial Liabilities: Increased from ₹5,398 to ₹7,694.
• Total Equity: Increased from ₹1,79,714 to ₹2,02,924. Components include:
  • Equity Share capital: Increased from ₹1,589 to ₹1,597.
  • Other equity: Increased from ₹1,78,125 to ₹2,01,327.

Statement of Audited Financial Results (in Lacs):

• Total Revenue from Operations: Increased from ₹1,89,127 to ₹2,66,012. This includes:
  • Interest Income: Increased from ₹64,765 to ₹1,03,072.
  • Fees and Commission Income: Increased from ₹1,18,240 to ₹1,59,717.
• Total Income: Increased from ₹1,89,163 to ₹2,66,073.
• Total Expenses: Increased from ₹84,973 to ₹1,38,930. Key components include:
  • Finance costs: Increased from ₹29,588 to ₹60,050.
  • Employee Benefits Expenses: Increased from ₹27,471 to ₹38,452.
• Profit Before Tax: Increased from ₹1,04,190 to ₹1,27,143.
• Total Tax Expense: Increased from ₹26,468 to ₹32,054.
• Profit for the Period/Year: Increased from ₹77,722 to ₹95,089.
• Earnings per equity share: Increased from ₹490.22 to ₹597.42.

Cash Flow Statement (in Lacs):

• Net Cash Flow from Operating Activities: Decreased from ₹36,965 to ₹(2,74,697).
• Net Cash Flow from Investing Activities: Decreased from ₹(97,339) to ₹20,704.
• Net Cash Flow from Financing Activities: Increased from ₹(32,206) to ₹2,94,594.
• Net Increase/ (Decrease) in cash and cash equivalents: Decreased from ₹(92,581) to ₹40,601.
• Cash and cash equivalents at the end of the year: Increased from ₹39,210 to ₹79,811.

Other Key Highlights:

• The Board of Directors approved the financial results on April 12, 2024, after review by the Audit Committee.
• The Company declared and paid four interim dividends during the period, totaling ₹80,249 lacs, inclusive of tax deductions at source.
• The Company issued commercial papers of ₹33,55,500 lacs and redeemed commercial papers of ₹28,20,000 lacs during the period.
• Investments in Government Securities are classified and measured at Amortized Cost.
• Details of Commercial Papers matured and outstanding as of March 31, 2024, are provided.