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ICL Fincorp Limited Unlisted Shares Financial Reports

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ICL Fincorp Limited Unlisted Shares

Financial Year: 2024

Independent Auditor's Report on the Standalone and Consolidated Financial Results of ICL Fincorp Limited **Opinion:** Manikandan & Associates, Chartered Accountants, audited the standalone and consolidated financial results of ICL Fincorp Limited for the quarter and year ended March 31, 2024. The audit was conducted in accordance with Standards on Auditing (SAs) specified under section 143(10) of the Companies Act 2013. The auditors expressed an unqualified opinion stating that the standalone and consolidated financial statements present a true and fair view in conformity with the recognition and measurement principles laid down in applicable accounting standards, RBI guidelines, and other accounting principles generally accepted in India. The financial statements are also in compliance with Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. **Basis for Opinion:** The audit was conducted in accordance with Standards on Auditing (SAs). The auditors are independent of ICL Fincorp Limited and have fulfilled their ethical responsibilities. They believe that the audit evidence obtained is sufficient and appropriate to provide a basis for their opinion. **Board of Directors' Responsibility:** The Board of Directors is responsible for preparing the standalone and consolidated financial statements, maintaining adequate accounting records, selecting appropriate accounting policies, making reasonable and prudent judgments and estimates, and designing, implementing, and maintaining adequate internal financial controls. The Board is also responsible for assessing the company's ability to continue as a going concern and overseeing the financial reporting process. **Auditor's Responsibilities:** The auditor's objectives are to obtain reasonable assurance about whether the standalone and consolidated financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes their opinion. The auditor exercises professional judgment and maintains professional skepticism throughout the audit. They identify and assess the risks of material misstatement, design and perform audit procedures, and obtain audit evidence. The auditor also obtains an understanding of internal control relevant to the audit and evaluates the appropriateness of accounting policies and the reasonableness of accounting estimates. **Other Matters:** The standalone and consolidated statements include the results for the quarter ended March 31, 2024, and March 31, 2023, being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2024, and March 31, 2023, and the published unaudited year-to-date figures up to the third quarter of the financial year ended March 31, 2024 and March 31, 2023, respectively, which were subjected to limited review. The auditor's opinion is not modified in respect of this matter. **Standalone Financial Results (in Lacs):** * **Total Income:** ₹3,499.16 for the quarter ended March 31, 2024, and ₹14,357.35 for the year ended March 31, 2024. * **Total Expenses:** ₹3,614.48 for the quarter ended March 31, 2024, and ₹14,075.23 for the year ended March 31, 2024. * **Profit Before Tax:** ₹(115.32) for the quarter ended March 31, 2024, and ₹282.13 for the year ended March 31, 2024. * **Profit After Tax:** ₹(92.82) for the quarter ended March 31, 2024, and ₹190.33 for the year ended March 31, 2024. * **Total Comprehensive Income:** ₹(86.97) for the quarter ended March 31, 2024, and ₹189.92 for the year ended March 31, 2024. * **Paid-up Equity Share Capital:** ₹4,979.36 as of March 31, 2024. * **Earnings Per Equity Share:** ₹(0.19) for the quarter ended March 31, 2024, and ₹0.40 for the year ended March 31, 2024. **Consolidated Financial Results (in Lacs):** * **Total Income:** ₹3,555.05 for the quarter ended March 31, 2024, and ₹14,569.43 for the year ended March 31, 2024. * **Total Expenses:** ₹3,821.14 for the quarter ended March 31, 2024, and ₹14,464.40 for the year ended March 31, 2024. * **Profit Before Tax:** ₹(266.09) for the quarter ended March 31, 2024, and ₹105.03 for the year ended March 31, 2024. * **Profit After Tax:** ₹(245.60) for the quarter ended March 31, 2024, and ₹8.08 for the year ended March 31, 2024. * **Total Comprehensive Income:** ₹(239.70) for the quarter ended March 31, 2024, and ₹8.11 for the year ended March 31, 2024. * **Paid-up Equity Share Capital:** ₹4,979.36 as of March 31, 2024. * **Earnings Per Equity Share:** ₹(0.49) for the quarter ended March 31, 2024, and ₹0.02 for the year ended March 31, 2024. **Key Ratios:** (Standalone and Consolidated) These include Debt-Equity Ratio, Debt-Service Coverage Ratio, Interest Service Coverage Ratio, Net Worth, and Capital Adequacy Ratio, among others, as per regulatory requirements. Specific values are provided for both standalone and consolidated results as of March 31, 2024, and March 31, 2023 in Annexure 1 of the document. For example, the standalone debt-equity ratio is 4.94, and the consolidated debt-equity ratio is 5.05. The capital adequacy ratios are 14.99% (standalone) and 15.99% (consolidated).

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