Incred Holdings Ltd Annual Reports, Balance Sheet and Financials

Particulars

2023

2022

ASSETS

(1)   Financial assets

(a)Cash and cash equivalents

34,472.39

5,505.98

(b)Bank balance other than cash and cash equivalents

4,795.43

2,991.36

(c)Derivative financial instruments

1,388.54

1,181.05

(d)Receivables

(I)Trade receivables

2.45

108.34

(II)Other receivables

(e)Loans

-5,40,525.05

-3,73,226.42

(f)Investments

7,034.28

8,119.65

(g)Other financial assets

7,953.30

2,754.80

5,96,171.44

3,93,887.60

(2)Non-financial assets

(a)Current tax assets (net)

5,039.07

1,209.98

(b)Deferred tax assets (net)

47,707.12

2,038.67

(c)Property, plant and equipment

4,359.35

3,479.68

(d)Capital work-in-progress

161.79

293.95

(e)Goodwill

6,778.74

652.65

(f)Other intangible assets

666.43

433.27

(g)Other non-financial assets

6,996.43

1,468.76

71,708.93

9,576.96

Total assets

6,67,880.37

4,03,464.56

LIABILITIES AND EQUITY LIABILITIES

(1)   Financial liabilities

(a)    Derivative financial liabilities

727.43

186.87

(b)    Debt securities

1,15,190.08

1,06,523.77

(c)    Borrowings (other than debt securities)

2,71,246.87

1,75,065.49

(d)    Other financial liabilities

21,108.44

8,198.31

4,08,272.82

2,89,974.44

(2)   Non-financial liabilities

(a)Provisions

2,766.29

324.46

(b)Deferred tax liabilities (net)

-

728.89

(c)Other non-financial liabilities

2,061.37

918.07

4,827.66

1,971.42

EQUITY

(a)Equity share capital

59,523.54

19,275.85

(b)Other equity

1,95,256.35

92,242.85

2,54,779.89

1,11,518.70

Total liabilities and equity

6,67,880.37

4,03,464.56

Particulars

2023

2022

Revenue From operations

(i)   Interest income

82,296.77

47,340.06

(ii)   Dividend income

25.18

-336.68

(iii)   Net gain on derecognition of financial instruments under amortised cost category

1,560.88

1,022.24

(iv)   Fees and commission income

2,180.55

104.17

(v)   Net (loss)/gain on fair value changes

501.76

(I)   Total revenue from operations

86,565.14

48,803.15

(II)   Other income

1,505.48

3,624.09

(III)   Total income (I + II)

88,070.62

52,427.24

Expenses

(i)   Finance costs

35,601.91

21,946.81

(ii)   Net loss on derecognition of financial instruments under amortised cost category

25

1,045.87

(iii)   Impairment on financial instruments

-2,423.77

4,352.02

(iv)   Employee benefit expenses

19,222.80

13,921.43

(v)   Depreciation and amortisation

1,326.78

1,227.80

(vi)   Other expenses

9,189.41

5,326.87

(IV)  Total expenses

62,942.13

47,820.80

(V)   Profit before share of loss of Associates (III - IV)

25,128.49

4,606.44

(VI)  Share of loss of associates

10.14

420.9

(VII)  Profit before exceptional items and tax (V - VI)

25,118.35

4,185.54

(VIII) Exceptional item

6,021.94

-

(IX)  Profit before tax (VII - VIII)

19,096.41

4,185.54

Tax Expense:

(1)  Current Tax

(2)  Tax pertaining to previous years

467.86

1,358.99

(3)  Deferred Tax

-7,722.13

-256.21

(X)   Total Tax Expense

8,189.99

1,102.78

(XI)   Profit for the year (IX - X)

10,906.42

3,082.76

(XII)  Other comprehensive income

(A)  (i) Items that will not be reclassified to profit or loss

-62.34

-94.84

(a) Remeasurement gain/(loss) of the defined benefit plans

15.92

23.87

(ii) Income tax relating to items that will not be reclassified to profit or loss Subtotal (A)

-46.42

-70.97

(B)  Items that will be reclassified to profit or loss

(a) Debt instruments through other comprehensive income

-73.59

-120.3

(b) The effective portion of gains and loss on hedging instruments in a cash flow hedge

129.99

103.74

(ii) Income tax relating to items that will be reclassified to profit or loss

-13.87

4.17

Subtotal (B)

42.53

-12.39

Other comprehensive income (A + B)

-3.89

-83.36

(XIII) Total comprehensive income for the year (XI + XII) Profit is attributable to:

10,902.53

2,999.40

Owners of the Group

10,905.81

3,082.76

Non controlling interests

0.61

-

Other Comprehensive Income is attributable to:

Owners of the Group

-3.89

-83.36

Non controlling interests

-

-

Total Comprehensive Income is attributable to:

Owners of the Group

10,901.92

2,999.40

Non controlling interests

0.61

-

(XIV) Earnings per equity share (Face Value : Rs. 10 per share)

Basic (Rs.)

1.85

0.8

Diluted (Rs.)

1.81

0.79

Particulars

2023

2022

Cash flow from operating activities

Profit  / (Loss) before tax

19,096.41

4,185.54

Adjustments to reconcile net profit to net cash generated from / (used in) operating activities

Depreciation, amortization and impairment

1,326.78

813.72

Loss on sale of property, plant and equipment

10.4

3.4

Net (gain) on fair value changes

-499.12

-104.17

Impairment of  Goodwill

16,585.12

-

Net gain on derecognition of financial instruments

-1,535.88

- (47,340.06)

Interest Income

-82,296.77

21,562.20

Finance Cost

35,399.59

4,350.54

Impairment on financial instruments

-1,155.09

60.92

Retirement Benefit expenses

139.3

2,446.59

Share based payment to employees

3,765.87

420.9

Share in loss of associate

10.14

Operating cash flow before working capital changes

-9,153.25

-13,600.42

Working capital adjustments

(Increase) / decrease in other trade receivables

105.89

-99.87

(Increase) in loans

-1,13,268.76

-1,22,227.31

(Increase) in other financial assets

-4,296.83

-902.32

(Increase) in other non financial assets

-1,952.74

14.03

Increase in other financial liabilities

6,528.20

1,817.10

Increase in provisions

549.92

0.38

Increase in other non financial liabilities

401.16

401.47

Cash (used in) / generated from operations

-1,21,086.41

-1,34,596.94

Interest received on loans

80,643.89

45,746.63

Interest paid on borrowings and debt

-34,973.42

-21,562.20

Income taxes paid

2,811.54

-1,831.74

Net cash (used in) / generated from operating activities

-72,604.40

-1,12,244.25

Cash flow generated from investing activities

(Purchase) / Sale of property, plant and equipment

-1,940.49

-496.34

(Purchase) / Sale of intangibles assets

-466.95

-107.08

(Addition) / Deletion of Capital work-in-progress

132.16

-279.45

Investment in associate

4,276.47

-999.4

Proceeds from business combination

39,431.81

-

Purchase of investments

-46,211.16

-61,273.28

Proceeds from sale of investments

45,939.88

66,880.30

Investment in term deposits

-1,37,589.04

-57,680.30

Proceeds from maturity of term deposits earmarked with banks

1,35,784.97

55,277.40

Net cash (used in) / generated from investing activities

39,357.65

1,321.85

Cash flow generated from financing activities

Issue of equity shares (including securities premium)

1,349.35

671.64

Reversal of rent expense

-604.4

-441.55

Proceeds / (Repayment) of borrowings (other than debt securities)

54,006.69

81,295.65

Proceeds / (Redemption) of debt securities

8,666.31

32,696.74

Net cash (used in) / generated from financing activities

63,417.95

1,14,222.48

Net increase / (decrease) in cash and cash equivalents

30,171.20

3,300.08

Cash and cash equivalents at the beginning of the year

2,788.93

-511.15

Cash and cash equivalents at the end of the year

32,960.13

2,788.93