INCRED HOLDINGS LIMITED Consolidated Financial Statements Summary:
**General Company Information:**
* The company is InCred Holdings Limited, formerly known as KKR Capital Markets India Limited, converted to a public company on July 8, 2022.
* Its Corporate Identity Number (CIN) is U67190MH2011PLC211738, and its Permanent Account Number (PAN) is AAECK1977B.
* The registered office is located in Mumbai.
* The financial statements cover the period from April 1, 2022, to March 31, 2023, and are consolidated financial statements.
* The presentation currency is INR (Indian Rupees).
* The statements use actuals.
* An indirect method is used for the cash flow statement.
**Auditor's Report Disclosures:**
* The auditor is S.R. Batliboi & Associates LLP.
* The firm's registration number is 101049W/E300004.
* Sarvesh Vishwesh Warty is the signing partner, with membership number 121411.
* The UDIN is 23121411BGWEGI3206.
* The audit report date is May 26, 2023.
* The company maintained proper records of Property, Plant, and Equipment (PPE).
* The company did not capitalize any intangible assets.
* There is no immovable property held by the company where the company is the lessee.
* The company has not revalued its Property, Plant, and Equipment.
* There are no proceedings initiated for holding any benami property.
* The company's business does not require maintenance of inventories.
* The company has not been sanctioned working capital limits exceeding Rs. five crores.
* The Company has not provided loans, advances in the nature of loans, stood guarantee or provided security to companies, firms, Limited Liability Partnerships or any other parties.
* There are no loans, investments, guarantees, and security in respect of which provisions of sections 185 and 186 of the Companies Act, 2013 are applicable
* The company has neither accepted any deposits from the public nor accepted any amounts which are deemed to be deposits.
* Undisputed statutory dues have generally been regularly deposited with appropriate authorities.
* The company has not defaulted in repayment of loans or other borrowings.
* The Company has not raised any money during the year by way of initial public offer / further public offer.
* No fraud by the Company or no material fraud on the Company has been noticed or reported during the year.
* The managerial remuneration has been paid in accordance with the provisions of section 197 read with Schedule V to the Act.
* Transactions with the related parties are in compliance with sections 177 and 188 of Companies Act, 2013 where applicable.
* The company has not made any preferential allotment or private placement of shares/fully or partially or optionally convertible debentures during the year.
* The company has not entered into any non-cash transactions with its directors or persons connected with its directors.
* The provisions of section 45-IA of the Reserve Bank of India Act, 1934 are not applicable to the company.
* Emphasis is drawn to demerger note in financial statements where the scheme was given effect from the appointed date.
* Auditor's opinion: the consolidated financial statements give a true and fair view in conformity with accounting principles generally accepted in India.
* Auditor's responsibility to obtain reasonable assurance that consolidated financial statements are free from material misstatement, due to fraud or error and to issue auditor’s report that includes an opinion.
**Financial Highlights:**
* Total assets for the group amount to ₹6,678,803,718.45 in 2023
* Total Liabilities for the group amount to ₹4,131,004,824.61 in 2023.
**Key Financial Data & Ratios:**
* Basic earnings per share: ₹1.85 (2023).
* Diluted earnings per share: ₹1.81 (2023).
* Revenue from operations ₹865,651,553.43 (2023).
* Profit before tax: ₹190,964,189.48 (2023).
* Total comprehensive income: ₹109,025,336.39 (2023).
**Statements of Changes in Equity:**
* Equity share capital: ₹595,235,388 (2023).
* Other equity: ₹1,952,563,505.98 (2023).
**Cash Flow Statement:**
* Net cash flows from operating activities: Negative in 2023.
* Net cash flows from investing activities: Negative in 2023.
* Net cash flows from financing activities: Positive in 2023.
* Net increase (decrease) in cash and cash equivalents: ₹289,664,086.76.
**Accounting Policies & Notes:**
* The consolidated financial statements are prepared in accordance with Indian Accounting Standards (Ind AS).
* Financial instruments are measured at amortized cost, unless otherwise specified.
* The group derecognizes financial assets on the date of assignment.
* Impairment losses are assessed based on Expected Credit Losses (ECL) model.
* The Group calculates ECL based on probability-weighted scenarios to measure the expected cash shortfalls, discounted at an approximation to the EIR.
* All significant accounting policies are disclosed, covering areas like consolidation, revenue recognition, property, plant and equipment, intangible assets, impairments, leases, employee benefits, provisions, financial instruments, and more.
**Additional Disclosures:**
* Disclosures regarding the impact of pending litigations.
* Details of amounts required to be transferred to the Investor Education and Protection Fund.
* Information on funds advanced or loaned to intermediaries, and the ultimate beneficiaries.
* A statement that no dividend has been declared or paid during the year.
**Material information on Subsidiaries:**
* InCred Financial Services Limited
* INCRED PRIME FINANCE LIMITED
* MVALU TECHNOLOGY SERVICES PRIVATE LIMITED
* INCRED MANAGEMENT AND TECHNOLOGY SERVICES PRIVATE LIMITED
This summary provides a high level view. For more in-depth detail please see the document output, it’s tables and disclosures.
