Incred Holdings Limited Unlisted Shares

Financial Report Summary

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.