DATA EXCELLENCE - Madura Microfinance

DATA EXCELLENCEFOR INTELLIGENT,

VALUE DRIVEN GROWTH

Annual Report 2014-15

Targeted delivery of productive capital to enable greater

impact at lower cost and lower risk.

Value Lending

SCITYL

AN

A

UCT D INO NR OP VATION

ROG WTH

DATA

EXCELLENCE

SCITYL

AN

A

UCT D INO NR OP VATION

ROG WTH

DATA

EXCELLENCE

Powering our mission through

Mission

10101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010101010

Snapshot of Results

Company

Letter from Chairman

Process Excellence

Product Innovation

Geographic Expansion

02

03

04

06

08

12

Data Excellence 10

Madura Microeducation 14

Auditor’s Report

Annexure (I,II,III,IV)

Balance Sheet

Cash Flow

25

41

42

43

Notes 44

Balance Sheet 65

Notes

66

67

MADURA MICRO FINANCE (STANDALONE)

MADURA MICRO EDUCATION

Director’s Report

22

16

MADURA MICRO FINANCE (CONSOLIDATED)

Auditor’s Report 74

Balance Sheet

Cash Flow

79

80

81

Notes 82

Contents

06

15

Process Excellence

Madura Microeducation

Data Excellence

10

09

Product Innovation

01Madura Microfinance

Gross Loan Portfolio (Rs. in Millions) 2,300 3,538 +54%

Revenue (Rs. in Millions) 505 774 +53%

109 146 +34%

Net NPA% (PAR > 90days) 0.15% 0.16%

7.00% 6.80%

Active Borrowers 206,000 329,600

Branches 148 168

Geography

Tamilnadu,

Karnataka,

Maharastra.

Tamilnadu,

Karnataka,

Maharastra.

GROWTH

500

1000

1500

2000

GROSS LOAN PORTFOLIO* REVENUE

*includes securitised portfolio

FY 2014 FY 2015

100

400

500

800

3500

900

02

3000

2500

200

300

600

700

Madura Microfinance

Profit After Tax (Rs. in Millions)

FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15

Efficiency (Opex/GLP)

Snapshot of Results

ChairmanLetter from

Dear Members,

Madura Microfinance

80

04

Tara ThiagarajanChairman and Managing Director


Process Excellence

Madura Microfinance 06

Faster turnaround to the

customer (Days)

More proposals processed per month

by each credit officer

40

60

80

100

120

450

500

550

600

650


More borrowers managed by

each field officer

Target Market ~13 Mn

retailers with an

estimated credit need

of INR 300 Bn

Sourcing of new

customers through

distributor’s

retail network

Credit delivery and

collection through

distributors

Unique model that utilizes existing supply chains


This year our Retail Microcapital product has gone from pilot to roll out

as an independent business unit

With strong results in the pilot regions and teams in place in 15 regions

in Tamil Nadu and Karnataka, it is now poised for rapid growth

Retail Micro Capital

Product Innovation

QFY14 Q1FY15 Q2FY15 Q3FY15 Q4FY15

Rapid growth in initial districtsRetail Loan Portfolio (Mn)

0.7

11

16.1

36.4

51.3

Disbursements till date: st nd

188 1 cycle and 78 2 cycle loans

Distributes:

Pepsi & Vodafone

Mr. Senthil

Mr. Subburaj

Mr. Nagarajan

Prior to VVL: Borrowed from local money

lenders at exorbitant interest rates; has bank

account but loan request turned down

Business Plan: Buy stocks in large quantities

to earn a higher margin

Mr. Balamurugan

Prior to VVL: Mortgaged jewels for capital

requirement or sought help from father; has

bank account but loan request turned down

Business Plan: Outlet renovation and

increase inventory; online ticket bookings

and bill payments

Prior to VVL: Managed with available funds

and jewels; has bank account but never

applied for loan

Business Plan: Increase inventory

This distributor caters to over 1000

retailers in Tirumangalam Taluk in

Madurai District of Tamil Nadu


Data Excellence



TestTrain

FY15FY14

in customersgrowth

6500

9000

Madura Micro Education


20%

thNumerical Literacy for 216 3-5 Grade Rural Children

5%

30%

0%

40% 60% 80% 100%-40% -20%

Improvement after Watching Content

Half the students improved in the post test by 20% or more, while one group stayed

within +/- 10% of their pre-assessment score.

10%

15%

25%

% o

f S

tud

en

ts

20%

A NEW COURSE INCONSUMER LITERACY

FOR ADULTS AND SUCCESSFUL PILOTS INNUMERICAL LITERACY

K-7 AGE GROUPS


Director’s Report

Dear Members,

Your Directors present their Tenth Annual Report together with the audited financials of your

C o mpany for the financial year ended March 31, 2015.

FINANCIAL HIGHLIGHTS

(i) Revenue from operations

(ii) Other Income

(iii) Profit Before Interest, Tax, Depreciation and

Amortization

(v) Depreciation and amortization

(vi) Interest expense (Net)

(viii) Profit before Tax

(ix) Provision for Tax

(x) Amount transferred to Statutory Reserve

(xi) Surplus transferred to Balance Sheet

DETAILSYear ended Year ended

31.03.2015 31.03.2014

Business Overview

This year, your company disbursed 19250 SHG Loans, providing financial assistance amounting to

Rs. 365.87 crores benefiting 217318 SHG members. The Company has made a cumulative loan

disbursal to SHGs amounting to Rs. 1574.55 crores since inception.

stIn relation to the previous year ended 31 March 2015:

The outstanding portfolio as on 31-03-2015 was at Rs. 368.59 crores representing an increase of

60% over the previous year.

The profit before tax during the year was at Rs. 22.39 crores against Rs. 16.76 during the previous

year and the profit after tax increased by Rs. 3.68 crores over previous year.

Cumulative repayment rate improved from 99.23% to 99.65%. Nonperforming assets for the year

were Rs. 28.22 lakhs towards which we have made a provision of 50%. The balance outstanding in

accounts that were more than 180 days past due was written off as bad debts.

New Markets

Madura has begun its expansion into new geographies with the opening of 5 branches in

Karnataka and 8 branches in Maharashtra

New Products

A new business division ‘Retail Microcapital’ was established during the year for the delivery of

credit to small retailers, facilitated through FMCG distributors. An initial portfolio of 5.1 Crores was

created in the first phase of operations in Tamil Nadu.


7657.09

86.25

5494.31

110.38

3144.78

2239.16

775.94

293.00

1170.22

4983.01

66.47

3427.52

113.59

1638.09

1675.83

581.31

218.90

875.62

Subsidiary:

The company’s subsidiary Madura Micro Education Private Ltd provided skill development training

course to 9073 students during the year. The revenue from operations increased to 45.36 lakhs in

the current year as compared to 23.24 lakhs in the previous year.

During the year under review, the Company reported loss of Rs. 68.21 lakhs as compared to the

loss of Rs. 43.29 lakhs in the previous year.

The detail of the subsidiary in Form AOC 1 is attached as Annexure 3.

Events Subsequent to the date of Financial Statements:

No material changes and commitments have occurred affecting the financial position of the

Company after March 31, 2015 till the date of this report.

Dividend:

In order to conserve resources for operations and future growth, your Directors do not

recommend any dividend for the year under review.

Transfer to Reserves:

As required under Section 45-IC of the Reserve Bank of India Act, 1934, an amount equivalent to

20 % of the profit after tax of Rs. 2.93 Crores has been transferred to the Statutory Reserve

Account.

Directors:

Presently, the Board of Directors comprise of seven Directors. There has been no change in the

constitution of the Board during the year.

Declaration by Independent Directors:

All the Independent Directors have submitted their declaration of independence as required

under Section 149(7) of the Companies Act, 2013.

Deposits:

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies

Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014.

Order of Court:

There are no significant material orders passed by the Regulators or Courts or Tribunals impacting

the going concern status and company's operations in future.

Directors’ responsibility statement:

Your Directors state:

I) That in the preparation of the annual accounts, the applicable accounting standards had been

followed along with proper explanation relating to material departures;

Director’s Report


(ii) That they had selected such accounting policies and applied them consistently and made

judgments and estimates that are reasonable and prudent so as to give a true and fair view of

the state of affairs of the Company at the end of the financial year and of the profit or loss of

the Company for that period;

(iii) That they had taken proper and sufficient care was taken for the maintenance of adequate

accounting records in accordance with the provisions of the Companies Act, 2013, for

safeguarding the assets of the Company and for preventing and detecting fraud and other

irregularities;

(iv) That they had prepared the annual accounts on a going concern basis.

(v) That they had devised proper systems to ensure compliance with the provisions of all

applicable laws and that such systems were adequate and operating effectively.

Corporate Governance

Development and Implementation of Risk Management Policy

Adequacy of Internal Financial Controls with reference to the Financial Statements

Board Meetings

Your Company has been complying with the principles of good Corporate Governance over the

years and is committed to the highest standards of compliance.

Company has developed and implemented a risk management policy, upon which the company

is ensuring that the activities are undertaken in a risk free environment.

The Company has implemented and evaluated the Internal Financial Controls which provide a

reasonable assurance in respect of providing financial and operational information, complying

with applicable statutes and policies, safeguarding of assets, prevention and detection of frauds,

accuracy and completeness of accounting records. The Directors and Management confirm that

the Internal Financial Controls (IFC) are adequate with respect to the operations of the Company.

Further, the Board annually reviews the effectiveness of the Company's internal control system.

Directors

Retirement by rotation

During the year, the Board of Directors of your Company met 6 times. The meetings were held on

08.04.2014, 23.06.2014, 30.09.2014, 12.12.2014, 19.02.2015 and 03.03.2015.

Mr. Ashok Mirza, Director, retires by rotation at the ensuing Annual General Meeting and being

eligible, offers himself for reappointment. Your Directors recommend his re-appointment.

Director’s Report


Committee

NAME OF THE COMMITTEE MEMBERS

(I) Audit Committee

Mr. N C Sarabeswaran

Mr. Ashok Mirza

Mr. R Ramaraj

(II) Nomination & Remuneration Committee

Ms. Tara Thiagarajan

Mr. Ashok Mirza

Mr. Sandeep Farias

Mr. R Ramaraj

(III) Risk Management Committee

Mr. Sandeep Farias

Mr. N C Sarabeswaran

Mr. R Ramaraj

(IV) Asset Liability Management Committee

Mr. M Narayanan

Mr. Prakash J Paul

Mr. Ashok Kumar

(VI) IT Committee

Mr. Ashok Mirza

Mr. Mohan Eddy

Mr. R Ramaraj

(VII) Sexual Harassment CommitteeMr. N C Sarabeswaran

Mr. Ashok Mirza

Auditors

M/s S N S Associates, Chartered Accountants, Chennai, retire at the ensuing Annual General

Meeting and are eligible for reappointment. In terms of Section 139 and 141 of the Companies

Act, 2013 read with Companies (Audit and Auditors) Rules, 2014, the Board has recommended to

reappoint them to hold office from the conclusion of this Annual General Meeting until the

conclusion of the Twelfth AGM at remuneration to be fixed by the Board of Directors on the

recommendation of the Audit Committee.

Conservation of Energy, Technology Absorption and Foreign Exchange Outgo

The particulars prescribed under clause (m) of sub section (3) of Section 134 of the Companies Act,

2013 read with Rule 8 (3) of the Companies (Accounts) Rules, 2014 of the following:

Director’s Report


(V) Corporate Social Responsibility Committee


Mr. Ashok Mirza

Mr. R Ramaraj

Mr.Rahul Varma

Particulars of Loans, Guarantees and Investments

The Company has not given any loans/guarantees and has not made any investments in securities

as covered under section 186 of the Companies Act, 2013 during the year.

Corporate Social Responsibility (CSR) Policy

Pursuant to the provisions of section 135 and Schedule VII of the Companies Act, 2013, CSR

Committee has been constituted and the said committee has recommended and the Board has

approved a policy on Corporate Social Responsibility (CSR).

For the financial year 2014-15, your Company is required to spend an amount of Rs. 19.50 lakhs.

Your Company is in the process of identifying the appropriate projects for spending the said

amount in the areas of enhancing the nutritional and education status of underprivileged rural

people.

Annual Report on CSR is attached as Annexure 1.

Related Party TransactionsstAll related party transactions that were entered into during the financial year ended 31 March,

2015 were on an arm's length basis and were in the ordinary course of business.

The particulars of contracts or arrangements with related parties referred to in sub section (1) of

section 188 entered by the Company during the financial year ended 31st March, 2015 is annexed

hereto as Annexure 4 in prescribed Form AOC-2 and forms part of this report.

Extract of Annual Return

As required pursuant to section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies

(Management and Administration) Rules, 2014, an extract of Annual Return in Form MGT 9 as a

part of this Annual Report is attached as Annexure 2.

Director’s Report


Conservation of Energy & Technology Absorption

In view of the nature of activities that are being carried out by the Company, the particulars

prescribed under clause (m) of sub section (3) of Section 134 of the Companies Act, 2013, read

with the Companies (Accounts) Rules 2014 on conservation of energy and technology absorption

are not applicable to the Company.

Foreign Exchange Earnings and Outgo

During the year, the Company did not have any foreign exchange earnings and had an outgo of

Rs. 9,47,577 lakhs.

Acknowledgement

Your Directors take this opportunity to thank the Reserve Bank of India, Government Departments,

Financial Institutions and Banks for their support and guidance to the Organization.

Your Directors wish to thank the Directors, Investors, Customers and Advisors for their continued

support. Your Directors also wish to place on record their appreciation of the valuable contribution

made by the employees at all levels.

Chennai For and on behalf of the Board th07 August 2015

Tara Thiagarajan

Chairman and Managing Director

Director’s Report


Employees' Particulars in terms of Section 134 read with Rules of the Companies Act, 2013

There were no Employees in the Company whose particulars are required to be given under

Section 197 of the Companies Act, 2013 read with Rule 5 (2) of the Companies (Appointment and

Remuneration of Managerial Personnel) Rules, 2014.

Disclosure under the Sexual Harassment of Women at Workplace (Prevention, Prohibition

and Redressal) Act, 2013

The Company has in place a Policy in line with requirements of the Sexual Harassment of Women

at Workplace (Prevention, Prohibition & Redressal) Act, 2013 that covers all employees. A Sexual

Harassment Committee has been set up to redress complaints received regarding sexual

harassment. No complaints regarding sexual harassment have been received during the financial

year.

sd/-

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF MADURA MICRO FINANCE LIMITED

on the Standalone Financial Statements

Management’s Responsibility for the Standalone Financial Statements

Auditor’s Responsibility

Auditor’s Report


st

Opinion

Report on Other Legal and Regulatory Requirements

)

Auditor’s Report


st

st

Auditor’s Report


For S.N.S AssociatesCHARTERED ACCOUNTANTS

(FIRM REGISTRATION No:006297 S)S.NAGARAJAN (Partner)MEMBERSHIP No:20899

st

th

st

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

As required by the Companies (Auditors’ Report) Order, 2015

(“the Order”), we report that:

Annexure


Annexure




Corporate Social Responsibility Report

Company's CSR Policy:

i) Madura Micro Finance Limited (MMFL) believes that in alignment with its vision, it will continue

to enhance value through its CSR initiatives and promote social sustainability, sustainable

development of the environment and social welfare of the people and society at large, more

specifically for the deprived and underprivileged persons.

ii) This policy encompasses the Company's philosophy for giving back to society as a corporate

citizen and lays down the guidelines and mechanism for undertaking socially useful programs

for the welfare & sustainable development of the community at large, is titled as the “MMFL CSR

Policy”.

iii) In keeping with the Company's belief in the positive benefits of education and nutrition for

growth of underprivileged communities, CSR initiatives will be focused in these areas.

Composition of the CSR Committee:


Mr. Ashok Mirza

Mr. R Ramaraj

Mr. Rahul Varma

Chairperson

Member

Member

Member

Average Net Profit of the Company for last three financial years:

2013-14

2012-13

2011-12

Total

16.76

8.46

3.97

29.19

Financial Year Net Profit before exceptional

items in Rs.Crores

Name Designation

Average Net Profit = Rs.9.73 Crores

A sum of Rs.19.46 lakhs is to be spent, being 2% of the average Net Profit of Rs.9.73 crores.

Amount spent as on March 31, 2015

Amount spent after March 31, 2015

Balance amount to be spent for the Financial Year 2014 -15

(Rs. in lakhs)

Annexure 1

NIL

NIL

NIL


1. Reason for not spending the amount in its Board report.

The Company is in the process of identifying the appropriate projects and upon identification of

the right projects, the allocated amount will be spent.

2. Responsibility statement of the CSR Committee:

The implementation and monitoring of CSR Policy, is in compliance with CSR Objectives and

Policy of the Company.

Chairman & Managing Director

Annexure 1


Whole-Time Director

sd/- sd/-

S.N

O.

CS

R p

roje

ct

or

acti

vit

y

ide

nti

fie

d

Se

cto

r in

wh

ich

th

e

pro

ject

is c

ov

ere

d

Pro

jects

or

pro

gra

ms

(1)

Lo

ca

l a

rea

or

oth

er

(2)

Sp

ecif

y t

he

Sta

te

a

nd

dis

tric

t w

he

re

p

roje

cts

or

pro

gra

ms

wa

s u

nd

ert

ak

en

Am

ou

nt

ou

tla

y

(bu

dg

et)

pro

ject

or

pro

gra

m w

ise

Am

ou

nt

spe

nt

on

th

e

pro

jects

or

pro

gra

ms

in R

s.

Cu

mu

lati

ve

ex

pe

nd

itu

re u

pto

th

e

rep

ort

ing

pe

rio

d

In R

s.

Am

ou

nt

Sp

en

t:

Dir

ect

or

thro

ug

h

imp

lem

en

tin

g

ag

en

cy

.*

* D

eta

ils

of

imp

lem

en

tin

g a

ge

ncy

Am

ou

nt

spe

nt

as

of

Ma

rch

31

, 2

01

5:

1.

NIL

Am

ou

nt

spe

nt

as

of

Ma

rch

31

, 2

01

5 a

nd

till th

e d

ate

of

Dir

ect

or'

s R

ep

ort

:

2.

NIL

Ch

en

na

i

Au

gu

st 0

7, 2

01

5


By

th

e o

rde

r o

f th

e b

oa

rd

Fo

r M

ad

ura

Mic

rofi

na

nce

Ltd

.

sd/-

Ch

air

ma

n &

Ma

na

gin

g D

ire

cto

r

FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN

As on financial year ended on 31.03.2015

Pursuant to Section 92 (3) of the Companies Act, 2013 and

rule 12(1) of the Company (Management & Administration) Rules, 2014.

I. REGISTRATION & OTHER DETAILS

(I) CIN

(II) Registration Date

(III) Name of the Company

(IV) Category/Sub-category of the Company

(V) Address of the Registered office & contact details

(VII) Name, Address & contact details of the

Registrar & Transfer Agent, if any.

U65929TN2005PLC057390

September 2, 2005

Madura Micro Finance Limited

INDIA NON-GOVERNMENT COMPANY

36, II Main Road, Kasturiba Nagar, Adyar, Chennai 600020

(VI) Whether listed company No

NA

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

(All the business activities contributing 10 % or more of the total turnover of the company shall be stated)

S. No Name and Description of

main products / services

NIC Code of the Product/service % to total turnover of the company

1. Micro Finance 649

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

(I) Name and address of the Company

(II) CIN / GLN

(III) Holding / Subsidiary/ Associate

(IV) % of shares held

(V) Applicable Section

Madura Micro Education Private Limited

U80301TN2013PTC091745

Subsidiary

100

2(87)

100

Annexure 2


Nil

64

0,9

00

6

40

,90

0

11

.53

%N

il

64

0,9

00

6

40

,90

0

11

.53

%

CA

TE

GO

RY

OF

SH

AR

EH

OL

DE

RS

NO

. O

F

SH

AR

ES

H

EL

D A

T

TH

E

BE

GIN

NIN

G

OF

TH

E Y

EA

R [

AS

ON

31

-MA

RC

H-2

01

4]

NO

. O

F S

HA

RE

S H

EL

D A

T T

HE

EN

D O

F T

HE

YE

AR

[A

S O

N 3

1-M

AR

CH

-20

15

]

De

ma

tP

hy

sica

lTo

tal

% o

f To

tal

Sh

are

sD

em

at

Ph

ysi

ca

l

A.

PR

OM

OT

ER

S

(1)

Ind

ian

a)

Ind

ivid

ua

l/ H

UF

b)

Ce

ntr

al G

ovt

c) S

tate

Go

vt(

s)

d)

Bo

die

s C

orp

.

e)

Ba

nk

s /

FI

f) A

ny o

the

r

SU

B T

OT

AL

(A

) (1

)

(2)

Fo

reig

n

a)

NR

I In

div

idu

als

b)

Oth

er

Ind

ivid

ua

ls

c) B

od

ies

Co

rp.

d)

An

y o

the

r

SU

B T

OT

AL

(A

) (2

)

N i

l

2,6

70

,20

0

2

,67

0,2

00

4 8

.05

%

Nil

6

40

,90

0

6

40

,90

0

1

1.5

3%

Nil

2

,67

0,2

00

2,6

70

,20

0

48

.05

%

TO

TA

L (

A)

Nil

3

,31

1,1

00

3,3

11

,10

0

5

9.5

8%

Nil

3,3

11

,10

0

3

,31

1,1

00

59

.58

%

B.

PU

BL

IC S

HA

RE

HO

LD

ING

(1)

Inst

itu

tio

ns

a)

Mu

tua

l Fu

nd

s

b)

Ba

nk

s /

FI

c) C

en

tra

l G

ovt

d)

Sta

te G

ovt(

s)

(I)

CA

TE

GO

RY

-WIS

E S

HA

RE

HO

LD

ING

IV.

S

HA

RE

HO

LD

ING

PA

TT

ER

N (

EQ

UIT

Y S

HA

RE

CA

PIT

AL B

RE

AK

UP

AS

PE

RC

EN

TA

GE

OF T

OT

AL E

QU

ITY

)


Nil

64

0,9

00

6

40

,90

0

11

.53

%

N i

l

2,6

70

,20

0

2

,67

0,2

00

4 8

.05

%

N

il

2

,67

0,2

00

2,6

70

,20

0

48

.05

%

To

tal

% o

f To

tal

Sh

are

s

% C

HA

NG

E

DU

RIN

G T

HE

YE

AR

0.0

0%

0.0

0%

0.0

0%

0.0

0%

0.0

0%

CA

TE

GO

RY

OF

SH

AR

EH

OL

DE

RS

NO

. O

F

SH

AR

ES

H

EL

D

AT

T

HE

B

EG

INN

ING

OF

TH

E Y

EA

R [

AS

ON

31

-MA

RC

H-2

01

4]

NO

. O

F S

HA

RE

S H

EL

D A

T T

HE

EN

D O

F T

HE

YE

AR

[A

S O

N 3

1-M

AR

CH

-20

15

]

% C

HA

NG

E

DU

RIN

G T

HE

YE

AR

De

ma

tP

hy

sica

lTo

tal

% o

f To

tal

Sh

are

sD

em

at

Ph

ysi

ca

lTo

tal

% o

f To

tal

Sh

are

s

g)

FII

s

h)

Fo

reig

n V

en

ture

Ca

pit

al Fu

nd

s

I) O

the

rs -

Tru

st

SU

B T

OT

AL

(B

) (1

)

(2)

NO

N-I

NS

TIT

UT

ION

S

a)

Bo

die

s C

orp

.

I

) In

dia

n

ii)

Ove

rse

as

b)

Ind

ivid

ua

ls

Nil

1

,71

1,9

17

1

,71

1,9

17

30

.80

%

Nil

23

4,5

00

2

34

,50

0

4.2

2%

0.0

0%

0.0

0%

0.0

0%

Nil

23

4,5

00

23

4,5

00

4

.22

%

Fo

reig

n B

od

ies

- D

R

SU

B T

OT

AL

(B

) (2

)

C.

SH

AR

ES

HE

LD

BY

CU

ST

OD

IAN

FO

R

GD

RS

& A

DR

S

e)

Ve

ntu

re C

ap

ita

l Fu

nd

s

f) I

nsu

ran

ce C

om

pa

nie

s

i)

Ind

ivid

ua

l sh

are

ho

lde

rs h

old

ing

no

min

al sh

are

ca

pit

al u

pto

R

s. 1

la

kh

ii)

Ind

ivid

ua

l sh

are

ho

lde

rs h

old

ing

n

om

ina

l sh

are

ca

pit

al in

exce

ss o

f

R

s 1

la

kh

c) O

the

rs (

spe

cify

)

No

n R

esi

de

nt

Ind

ian

s

Ove

rse

as

Co

rpo

rate

Bo

die

s

Fo

reig

n N

ati

on

als

Cle

ari

ng

Me

mb

ers

Tru

sts

TO

TA

L (

B)

GR

AN

D T

OT

AL

(A

+B

+C

)

Nil

50

4,0

00

5

04

,00

0

9

.07

%0

.00

%

N

il

50

4,0

00

50

4,0

00

9.0

7%

Nil

1

,71

1,9

17

1,7

11

,91

7

30

.80

%

N

il

30

0,0

00

3

00

,00

0

5.4

0%

0.0

0%

Nil

30

0,0

00

30

0,0

00

5

.40

%

N

il

5

34

,50

0

5

34

,50

0

9

.62

%0

.00

%

N

il

5

34

,50

0

5

34

,50

0

9.6

2%

N

il

5

,55

7,5

17

5,5

57

,51

7

1

00

.00

%0

.00

%

N

il

5,5

57

,51

7

5

,55

7,5

17

10

0%

N

il

2

,24

6,4

17

2,2

46

,41

7

40

.42

%0

.00

%

N

il

2

,24

6,4

17

2

,24

6,4

17

4

0.4

2%

Nil

1,2

07

,91

71

,20

7,9

17

2

1.7

3%

Nil

1,2

07

,91

71

,20

7,9

17

2

1.7

3%


Sh

are

ho

lde

rs N

am

e

SH

AR

EH

OL

DIN

G A

T T

HE

BE

GIN

NIN

G O

F T

HE

YE

AR

[A

S O

N 3

1-M

AR

CH

-20

14

]

SH

AR

E

HO

LD

ING

A

T

TH

E

EN

D

OF

T

HE

YE

AR

[A

S O

N 3

1-M

AR

CH

-20

15

]

No

. o

f

Sh

are

s

% o

f to

tal

Sh

are

s o

f

the

co

mp

an

y

% o

f S

ha

res

Ple

dg

ed

/en

cu

mb

ere

d

to t

ota

l sh

are

s

Mr.

Ash

ok

Mir

za

Mr.

R R

am

ara

j

At

the

be

gin

nin

g o

f th

e y

ea

r

Ch

an

ge

s d

uri

ng

th

e y

ea

r

NO

CH

AN

GE

No

. o

f

Sh

are

s

% o

f to

tal

Sh

are

s o

f

the

co

mp

an

y

% o

f S

ha

res

Ple

dg

ed

/

en

cu

mb

ere

d t

o t

ota

l

sha

res

Ms.

Ta

ra T

hia

ga

raja

n

Mr.

M N

ara

ya

na

n

TO

TAL

2,6

70

,20

0

10

0,1

00

20

0,0

00

34

0,0

00

48

.05

%

1.8

%

3.6

%

6.1

2%

NIL

NIL

NIL

NIL

3,3

10

,30

05

9.5

7%

NIL

2,6

70

,20

0

10

0,1

00

20

0,0

00

34

0,0

00

48

.05

%

1.8

%

3.6

%

6.1

2%

NIL

NIL

NIL

NIL

3,3

10

,30

05

9.5

7%

NIL

(ii)

Sh

are

ho

ldin

g o

f P

rom

ote

r

(iii

) C

ha

ng

e i

n P

rom

ote

rs S

ha

reh

old

ing

(p

lea

se s

pe

cif

y,

if t

he

re i

s n

o c

ha

ng

e)

PA

RT

ICU

LA

RS

DA

TE

RE

AS

ON

SH

AR

EH

OL

DIN

G A

T T

HE

BE

GIN

NIN

G O

F T

HE

YE

AR

CU

MU

LA

TIV

E

SH

AR

EH

OL

DIN

G D

UR

ING

TH

EY

EA

R

NO

. O

F S

HA

RE

S%

OF

TO

TA

L S

HA

RE

SN

O.

OF

SH

AR

ES

% O

F T

OT

AL

SH

AR

ES

At

the

en

d o

f th

e y

ea

r

SR

.NO

% C

HA

NG

E I

N

SH

AR

E

HO

LD

ING

DU

RIN

G T

HE

YE

AR

SR

.

No

1.

2.

3.

4.

0.0

0

0.0

0

0.0

0

0.0

0

0.0

0

1.

2.

3.


(iv

) S

ha

reh

old

ing

Pa

tte

rn o

f to

p t

en

Sh

are

ho

lde

rs (O

the

r th

an

Dir

ect

ors

, P

rom

ote

rs a

nd

Ho

lde

rs o

f G

DR

s a

nd

AD

Rs)

FO

R E

AC

H O

F T

HE

TO

P 1

0

SH

AR

EH

OL

DE

RS

SR

.

NO

DA

TE

WIS

E

INC

RE

AS

E/

DE

CR

EA

SE

IN

SH

AR

EH

OL

DIN

G

RE

AS

ON

SH

AR

EH

OL

DIN

G A

T T

HE

BE

GIN

NIN

G O

F T

HE

YE

AR

CU

MU

LA

TIV

E

SH

AR

EH

OL

DIN

G D

UR

ING

TH

E Y

EA

R

NO

. O

F S

HA

RE

S%

OF

TO

TA

L S

HA

RE

SN

O.

OF

SH

AR

ES

% O

F T

OT

AL

SH

AR

ES

(I)

Ele

va

r U

nit

us

Co

rpo

rati

on

a)

At

the

be

gin

nin

g o

f th

e y

ea

r

b)

Ch

an

ge

s d

uri

ng

th

e y

ea

r

c)

At

the

en

d o

f th

e y

ea

r

1,2

07

,91

7

Nil

1,2

07

,91

7

21

.73

%

0.0

0%

21

.73

%

1,2

07

,91

7

Nil

1,2

07

,91

7

21

.73

%

0.0

0%

21

.73

%

(II)

M

art

i G

Su

bra

hm

an

ya

m

a)

At

the

be

gin

nin

g o

f th

e y

ea

r

b)

C

ha

ng

es

du

rin

g t

he

ye

ar

c) A

t th

e e

nd

of

the

ye

ar

30

0,0

00

Nil

30

0,0

00

5.4

0%

0.0

0%

5.4

0%

30

0,0

00

Nil

30

0,0

00

5.4

0%

0.0

0%

5.4

0%

(III

) M

ad

ura

Mic

rocre

dit

Em

plo

ye

es

We

lfa

re T

rust

a)

At

the

be

gin

nin

g o

f th

e y

ea

r

b)

C

ha

ng

es

du

rin

g t

he

ye

ar

c)

At

the

en

d o

f th

e y

ea

r

50

4,0

00

Nil

50

4,0

00

9.0

7%

0.0

0%

9.0

7%

50

4,0

00

Nil

50

4,0

00

9.0

7%

0.0

0%

9.0

7%

(IV

) M

V S

ub

bia

h

a)

At

the

be

gin

nin

g o

f th

e y

ea

r

b)

C

ha

ng

es

du

rin

g t

he

ye

ar

c)

At

the

en

d o

f th

e y

ea

r

10

0,0

00

Nil

10

0,0

00

1.8

0%

0.0

0%

1.8

0%

10

0,0

00

Nil

10

0,0

00

1.8

0%

0.0

0%

1.8

0%



(v)

Sh

are

ho

ldin

g o

f D

ire

cto

rs a

nd

Ke

y M

an

ag

eri

al

Pe

rso

nn

el:

(I)

M

s. T

ara

Th

iag

ara

jan

a)

A

t th

e b

eg

inn

ing

of

the

ye

ar

b)

C

ha

ng

es

du

rin

g t

he

ye

ar

c)

At

the

en

d o

f th

e y

ea

r

2,6

70

,20

0

Nil

2,6

70

,20

0

48

.05

%

0.0

0%

48

.05

%

2,6

70

,20

0

Nil

2,6

70

,20

0

48

.05

%

0.0

0%

48

.05

%

(II)

Mr.

R R

am

ara

j

a)

A

t th

e b

eg

inn

ing

of

the

ye

ar

b)

C

ha

ng

es

du

rin

g t

he

ye

ar

c)

At

the

en

d o

f th

e y

ea

r

10

0,1

00

Nil

10

0,1

00

1.8

0%

0.0

0%

1.8

0%

10

0,1

00

Nil

10

0,1

00

1.8

0%

0.0

0%

1.8

0%

(III

) M

r. A

sho

k M

irza

a)

A

t th

e b

eg

inn

ing

of

the

ye

ar

b)

C

ha

ng

es

du

rin

g t

he

ye

ar

c)

At

the

en

d o

f th

e y

ea

r

20

0,0

00

Nil

20

0,0

00

3.6

0%

0.0

0%

3.6

0%

20

0,0

00

Nil

20

0,0

00

3.6

0%

0.0

0%

3.6

0%

(IV

) M

r. M

oh

an

Ed

dy

a)

A

t th

e b

eg

inn

ing

of

the

ye

ar

b)

C

ha

ng

es

du

rin

g t

he

ye

ar

c)

At

the

en

d o

f th

e y

ea

r

20

,00

0

Nil

20

,00

0

0.3

6%

0.0

0%

0.3

6%

20

,00

0

Nil

20

,00

0

0.3

6%

0.0

0%

0.3

6%

(V)

Mr.

M N

ara

ya

na

n

a)

A

t th

e b

eg

inn

ing

of

the

ye

ar

b)

Ch

an

ge

s d

uri

ng

th

e y

ea

r

c)

At

the

en

d o

f th

e y

ea

r

34

0,0

00

Nil

34

0,0

00

6.1

2%

0.0

0%

6.1

2%

34

0,0

00

Nil

34

0,0

00

6.1

2%

0.0

0%

6.1

2%

SH

AR

EH

OL

DIN

G O

F

DIR

EC

TO

RS

AN

D E

AC

H

KE

Y M

AN

AG

ER

IAL

PE

RS

ON

NE

L

SR

.

NO

DA

TE

WIS

E

INC

RE

AS

E/

DE

CR

EA

SE

IN

SH

AR

EH

OL

DIN

G

RE

AS

ON

SH

AR

EH

OL

DIN

G A

T T

HE

BE

GIN

NIN

G O

F T

HE

YE

AR

CU

MU

LA

TIV

E

SH

AR

EH

OL

DIN

G D

UR

ING

TH

E Y

EA

R

NO

. O

F S

HA

RE

S%

OF

TO

TA

L S

HA

RE

SN

O.

OF

SH

AR

ES

% O

F T

OT

AL

SH

AR

ES

V.

IND

EB

TE

DN

ES

S

SE

CU

RE

D L

OA

NS

EX

CL

UD

ING

DE

PO

SIT

S

UN

SE

CU

RE

D L

OA

NS

DE

PO

SIT

S

(I)

In

de

bte

dn

ess

of

the

Co

mp

an

y in

clu

din

g in

tere

st o

uts

tan

din

g/a

ccru

ed

bu

t n

ot

du

e f

or

pa

ym

en

t.

TO

TA

L I

ND

EB

TE

DN

ES

S

(I)

P

rin

cip

al A

mo

un

t

(ii)

I

nte

rest

du

e b

ut

no

t p

aid

(a

) In

de

bte

dn

ess

at

the

be

gin

nin

g o

f th

e f

ina

ncia

l y

ea

r

1,7

52

,93

7,8

66

.00

NIL

NIL

1,7

52

,93

7,8

66

.00

(iii)

In

tere

st a

ccru

ed

bu

t n

ot

du

e

1,7

52

,93

7,8

66

.00

NIL

NIL

1,7

52

,93

7,8

66

.00

*A

dd

itio

n

*R

ed

uct

ion

(b)

Ch

an

ge

in

In

de

bte

dn

ess

du

rin

g t

he

fin

an

cia

l y

ea

r

2,4

95

,00

0,0

00

.00

NIL

14

3,3

63

,91

9.0

0N

IL

2,4

95

,00

0,0

00

.00

14

3,3

63

,91

9.0

0

3,0

98

,65

9,5

97

.00

NIL

NIL

3,1

04

,57

3,9

47

.00

NIL

NIL

(I)

P

rin

cip

al A

mo

un

t

(ii)

I

nte

rest

du

e b

ut

no

t p

aid

(iii)

In

tere

st a

ccru

ed

bu

t n

ot

du

e5

,91

4,3

50

.00

NIL

3,0

98

,65

9,5

97

.00

5,9

14

,35

0.0

0

2,6

38

,36

3,9

19

.00

NIL

NIL

2,6

38

,36

3,9

19

.00

3,1

04

,57

3,9

47

.00


(c)

Ind

eb

ted

ne

ss a

t th

e e

nd

of

the

fin

an

cia

l y

ea

r

(Am

ou

nt

Rs/

La

kh

s)

PA

RT

ICU

LA

RS

TO

TA

L(i

)+(i

i)+

(iii

)

TO

TA

L(i

)+(i

i)+

(iii

)

NE

T C

HA

NG

E

VI.

RE

MU

NE

RA

TIO

N O

F D

IRE

CT

OR

S A

ND

KE

Y M

AN

AG

ER

IAL

PE

RS

ON

NE

L

TO

TA

L(B

)=(1

+2

)-

13

0,0

00

.00

Pa

rtic

ula

rs o

f R

em

un

era

tio

nS

R.

NO

A.

Re

mu

ne

rati

on

to

Ma

na

gin

g D

ire

cto

r, W

ho

le-t

ime

Dir

ect

ors

an

d/o

r M

an

ag

er:

Na

me

of

MD

/WT

D/

Ma

na

ge

rTo

tal

Am

ou

nt

Na

me

Ms.

Ta

ra T

hia

ga

raja

nM

r. M

oh

an

Ed

dy

(Rs/

La

kh

s)D

esi

gn

ati

on

Ma

na

gin

g D

ire

cto

rW

ho

le-t

ime

Dir

ect

or

1.

Gro

ss s

ala

ry

(a)

Sa

lary

as

pe

r p

rovis

ion

s co

nta

ine

d in

sect

ion

17

(1)

of

the

In

com

e-t

ax

Act

, 1

96

1.

(b)

Va

lue

of

pe

rqu

isit

es

u/s

17

(2)

Inco

me

-

tax

Act

, 1

96

1.

Pro

fits

in

lie

u o

f sa

lary

un

de

r se

ctio

n

17

(3)

Inco

me

- ta

x A

ct, 1

96

1.

2.

Sto

ck O

pti

on

3.

Sw

ea

t E

qu

ity

Co

mm

issi

on

- a

s %

of

pro

fit

- o

the

rs, sp

eci

fy

4.

Oth

ers

, p

lea

se s

pe

cify

5.

B

. R

em

un

era

tio

n t

o o

the

r D

ire

cto

rs

Pa

rtic

ula

rs o

f R

em

un

era

tio

nS

R.

NO

Na

me

of

Dir

ecto

rsTo

tal

Am

ou

nt

(R

s/La

kh

s)

1.

Ind

ep

en

de

nt

Dir

ect

ors

Fe

e f

or

att

en

din

g b

oa

rd c

om

mit

tee

me

eti

ng

s

Co

mm

issi

on

Oth

ers

, p

lea

se s

pe

cify

To

tal

(1)

2.

Oth

er

No

n-E

xe

cuti

ve

Dir

ect

ors

Fe

e f

or

att

en

din

g b

oa

rd c

om

mit

tee

me

eti

ng

s

Co

mm

issi

on

Oth

ers

, p

lea

se s

pe

cify

To

tal

(2)

1,8

00

,00

0.0

01

,80

0,0

00

.00

3,6

00

,00

0.0

0

2,9

84

,00

4.0

02

,19

9,9

96

.00

5,1

84

,00

0.0

0

To

tal

(A)

4,7

84

,00

4.0

03

,99

9,9

96

.00

8,7

84

,00

0.0

0

80

,00

0

- - 80

,00

0

50

,00

0

- - 50

,00

0

- -N C

Sa

rab

esw

ara

n

R R

am

ara

j


Pa

rtic

ula

rs o

f R

em

un

era

tio

nS

R.

NO

Na

me

of

MD

/WT

D/

Ma

na

ge

rTo

tal

Am

ou

nt

Na

me

Mr.

M N

ara

ya

na

n(R

s/La

kh

s)

De

sig

na

tio

nC

EO

1.

Gro

ss s

ala

ry

(a)

Sa

lary

as

pe

r p

rovis

ion

s co

nta

ine

d in

sect

ion

17

(1)

of

the

In

com

e-t

ax

Act

, 1

96

1.

(b)

Va

lue

of

pe

rqu

isit

es

u/s

17

(2)

Inco

me

-

tax

Act

, 1

96

1.

Pro

fits

in

lie

u o

f sa

lary

un

de

r se

ctio

n

17

(3)

Inco

me

- ta

x A

ct, 1

96

1.

2.

Sto

ck O

pti

on

3.

Sw

ea

t E

qu

ity

Co

mm

issi

on

- a

s %

of

pro

fit

- o

the

rs, sp

eci

fy

4.

Oth

ers

, p

lea

se s

pe

cify

5.

1,8

00

,00

0.0

02

,15

5,1

40

.00

1,9

34

,00

4.0

0

3,7

34

,00

4.0

06

60

,57

6.0

0

C.

Re

mu

ne

rati

on

to

Ke

y M

an

ag

eri

al P

ers

on

ne

l o

the

r th

an

MD

/Ma

na

ge

r/W

TD

CFO

CS

35

5,1

40

.00

30

5,4

36

.00

TO

TA

L

2,2

39

,44

0.0

0

4,3

94

,58

0.0

0

VII

. P

EN

AL

TIE

S /

PU

NIS

HM

EN

T/

CO

MP

OU

ND

ING

OF

OF

FE

NC

ES

:

Ty

pe

Se

cti

on

of

the

Co

mp

an

ies

Act

Bri

ef

De

scri

pti

on

De

tail

s o

f P

en

alt

y /

Pu

nis

hm

en

t/

Co

mp

ou

nd

ing

fe

es

imp

ose

d

Au

tho

rity

[R

D /

NC

LT

/ C

OU

RT

]A

pp

ea

l m

ad

e,

if a

ny

(giv

e D

eta

ils)

A.

CO

MP

AN

Y

Pe

na

lty

Pu

nis

hm

en

t

Co

mp

ou

nd

ing

B.

DIR

EC

TO

RS

Pe

na

lty

Pu

nis

hm

en

t

Co

mp

ou

nd

ing

C.

OT

HE

R O

FF

ICE

RS

IN

DE

FA

UL

T

Pe

na

lty

Pu

nis

hm

en

t

Co

mp

ou

nd

ing


Mr.

Ha

rih

ara

Su

bra

ma

nia

m

Form AOC-1

(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of

Companies (Accounts) Rules, 2014)

STATEMENT CONTAINING SALIENT FEATURES OF THE FINANCIAL STATEMENT OF

SUBSIDIARIES/ASSOCIATE COMPANIES/JOINT VENTURES

PART “A”: SUBSIDIARIES

(Information in respect of each subsidiary to be presented with amounts in Rs.)

SL.NO Particulars Details

Name of the subsidiary Madura Micro Education Private Limited

Reporting period for the

subsidiary concerned, if different

from the holding company's

reporting period.

NA

Reporting currency and Exchange

rate as on the last date of the

relevant Financial year in the case

of foreign subsidiaries.

Share Capital

NA

1.

2.

3.

4.

Reserves & Surplus5.

Total Assets6.

Total Liabilities7.

Investments8.

Turnover9.

Profit before taxation/(Loss)10.

Provision for taxation11.

Provision after taxation.12.

Proposed Dividend13.

% of shareholding14.

1,49,00,000

(1,11,49,791)

32032521

32032521

NIL

5682152

(68,21,132)

NIL

(68,21,132)

NIL

100%

Part “B”: Associates and Joint Ventures: Not Applicable

Annexure 3


Form AOC-2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the

Companies (Accounts) Rules, 2014).

Form for Disclosure of particulars of contracts/arrangements entered into by the company

with related parties referred to in sub section (1) of section 188 of the Companies Act, 2013

including certain arm's length transaction under third proviso thereto.


Name(s) of the related party and nature of the

relationship

NIL1.

Nature of contracts/agreements/transaction NIL2.

Salient features of the contracts or arrangements

or transactions including the value, if any

NIL3.

Justification for entering in to such contracts or

arrangements or transactions

4. NIL

Date of approval by the Board5. NIL

Amount paid as advances, if any6. NIL

Date on which a special resolution was passed in General

Meeting as required under first proviso to section 188

7. NIL

2. D etails of contracts or arrangements or transactions at Arm's length basis.


Name(s) of the related party and nature of the

relationship

Scimergent Analytics and

Education Private Limited

1.

Nature of contracts/agreements/transaction Agreement for IT services2.

Duration of contracts/arrangements/transaction Until Termination3.

Salient terms of the contracts or arrangements

or transaction including the value, if any

4. To provide assistance to the

Company for enhancing the

Information Technology

platform and architecture.

Value: 157.50 Lacs

Date of approval by the Board5. 23.06.2014

Amount paid as advances, if any6. NIL

Annexure 4


1. Details of contracts or arrangements or transactions not at Arm's length basis.

EQUITY AND LIABILITIES

Note no

Non Current Liabilities

(a) Long Term Borrowings

(b) Other Long Term Liabilities

(c) Long Term Provisions

Current Liabilities

(a) Short Term Borrowings

(b) Other Current Liabilities

(c) Short Term Provisions

Shareholders' Funds

(a) Share Capital

(b) Reserves and Surplus

2

3

1,275,747,000

585,736

5,673,719

4

5

6

867,510,866

1,282,006,455

55,575,170

665,613,266

822,649,715

585,736

3,703,336

721,188,436

826,938,787

-

1,959,330,274

10,102,390

7

8

9

1,969,432,664

4,518,285

1,069,711,232

4,908,385

1,079,137,902

4,118,949,985 2,627,265,125

9,754,264

6,007,639-

-

16,899,000

16,528,554

817,552,890

10,917,381

Non Current Assets

(a) Fixed Assets

(i) Tangible Assets

(ii) Intangible Assets

(iii) Capital work in Progress

(iv) Intangible Assets under development

(b) Non Current Investments

(c) Deferred Tax Assets (net)

(d) Long Term Loans and Advances

(e) Other non current assets

ASSETS

Current Assets

(a) Current Investments

(b) Cash and cash equivalents

(d) Short Term Loans and Advances


10

11

877,659,728 598,500,270

6,930,147

12,105,242

-

- 16,899,000

10,048,384

549,037,170

3,480,327

120,539,435

411,713,583

2,682,333,578

26,703,661

102,903,038

182,454,050

1,725,345,065

18,062,702

3,241,290,257 2,028,764,855

4,118,949,985 2,627,265,125

12

15

16

17

18

19

14

13

55,575,170

811,935,696

Balance Sheet

Significant Accounting Policies 1 - -

See accompanying Notes to Financial Statement Vide out report of even date attached



Tara Thiagarajan

Managing Director

Mohan Eddy

Wholetime Director

Sanin Panicker

Company Secretary

thChennai / Date: 04 July 2015


As at

31.03.2015

As at

31.03.2014

(In Rupees) (In Rupees)

20

IV. Expenses:

Employee Benefits Expenses

Finance Cost

Depreciation

Other Expenses

Total Expenses

V. Profit before Exceptional and

Extraordinary Items and tax

VI. Exceptional Items

I. Revenue from Operations

II. Other Income

III. Total Revenue

21

22

109,472,923

314,477,776 11,038,084

115,430,545

23

2410 & 11

25

774,335,352

550,419,328

498,331,239

6,646,593

71,179,052

163,808,943

11,359,228

91,047,260

504,977,832

337,394,483

223,916,024

-

223,916,024

167,583,349

-

167,583,349

Current tax

Deferred tax

Income Tax relating to earlier Years (net)

765,709,935

8,625,417

VII. Profit before Extraordinary Items and tax

VIII. Extraordinary Items

IX. Profit Before Tax

X. Tax Expense

XI. Profit or loss for the peroid from

continuing operations

XII. Profit or loss from discontinuing

operations

XIII. Tax expense of discontinuing operations

XIV. Profit/loss from discontinuing operations

XV. Profit for the period

XVI. Earnings Per Share

(1) Basic

(2) Diluted

223,916,024

-

167,583,349

-

80,600,000

-6,480,170

3,473,464

62,500,000

-4,368,624

-

146,322,430

109,451,973

-

-

-

146,322,430

-

-

-

109,451,973

19.69

19.69

26.33

26.33

Profit and Loss

year ended

31.03.2015

year ended

31.03.2014




Tara Thiagarajan

Managing Director

Mohan Eddy

Wholetime Director

Sanin Panicker

Company Secretary



Note no


Cash Flow

Profit before tax

Add: Depreciation

Provision made for Advances and NPAs

Provision made for assets derecognized

11,473,067

1,478,223

167,583,349

11,359,228

10,919,903

223,916,024

11,038,084

247,905,408 189,862,480

Less: Dividend from mutual funds 7,202,828

4,162,438

Operating profit before changes in operating assets

and liabilities 240,702,580 185,700,042

Changes in operating assets and liabilities

(Increase)/Decrease in advance to self help groups

Increase/(Decrease) in borrowings

(Increase)/Decrease in other current assets and loans

and advances

Increase/(Decrease) in current liabilities and provisions

Tax Paid net of provisions

-1,236,977,300

1,345,721,731

-9,844,559

-1,837,534

-90,307,218

-784,841,711

580,315,986

-5,213,564

115,552,376

-50,871,243

Total cash flow from operating activities 247,457,700 40,641,886

Cash from investing activities

Purchase of fixed assets

Intangible assets under development

Investments made

Proceeds from transfer of intangible Assets

Investments made in subsidiary company

Proceeds from sale of investments

Dividend from mutual funds

Total cash flow from investing activities

-7,764,598

-

-4,292,411,532

-

-

4,274,775,135

7,202,828

-18,198,167 -64,325,817

-4,195,778

-1,493,169

-2,317,751,544

14,800,000

-14,899,000

2,255,051,236

4,162,438

Total Cash generated during the year 229,259,533 -23,683,931

Cash and Cash Equivalents at the beginning of the Year 182,454,050 206,137,981

411,713,583 182,454,050

Year ended Year ended

31.03.2015 31.03.2014




Tara Thiagarajan

Managing Director

Mohan Eddy

Wholetime Director

Sanin Panicker

Company Secretary



- -

Cash and Cash Equivalents at the end of the Year


Provision on Microfinance and other loans treated as nonperforming assets is being made in

accordance with the Prudential Norms issued by Reserve Bank of India. The Company is also

creating a provision of 1% on all the Standard Advances.

In respect of assets derecognized, provision is made at the rate of 1% of the outstanding amounts of

assets derecognized from the books of the Company as at the balance sheet date.

1. Significant Accounting Policies

a) Fixed Assets

The Fixed Assets are stated at cost. Grants received for purchase of the fixed assets are credited to the

value of the Fixed Asset after retaining a nominal value in the Fixed Asset. Depreciation on the balance

is provided on straight line method. The Fixed Assets are depreciated on SLM basis at the following

rates:

Computer

Office Equipment

Plant and Machinery

Motor Vehicles

Software

Furniture and Fittings

Electrical Fittings

33.33%

20.00%

15.00%

20.00%

33.33%

15.00%

20.00%

Fixed assets costing less than Rs.5000/- are fully depreciated in the year of capitalization.

Since the useful life adopted for arriving at the above rates is shorter than the useful life specified

in schedule II of the Companies Act, 2013, no further changes are required.

Investments which are long term in nature, are stated at cost with provision wherever necessary

for dimunition, other then temporary in the value of the investments. Current Investments are

valued at lower of cost or market value.

b) Investments

I) Interest receivable on loans to Self Help Groups are accounted for on accrual basis at the agreed

rate of interest.

ii) In respect of accounts identified as Non Performing Assets,i nterest income is accounted as per the

direction of Reserve Bank of India.

iii)I n accordance with Reserve Bank of India Guidelines on Securitization transactions, gains arising

f rom assignment/securitisation are amortized over t he life of the underlying portfolio loans. In case

o f loss, the same is recognized i n the Statement of Profit and Loss immediately.

iv) Other income and all expenditure is accounted for on accrual basis.

v ) Provision for gratuity and leave encasement has been made on t he basis of actuarial valuation on

Projected Unit Credit (PUC) m ethod.

c) Revenue Recognition

d) Provision for Microfinance and other Loans:

Notes


e) Defered Tax:

Deferred Tax Assets arising from temporary timing differences are recognised to the extent there is a

virtual certainty that the assets can be realised in future.

Authorised:

2. Share Capital

1,00,00,000 Equity shares of Rs.10/- each 100,000,000 100,000,000

Issued, Subscribed and Paid up:

Name of the shareholder

Ms.Tara Thiagarajan Mr.M.Narayanan Mr.Marti Subramaniam Employees' Welfare Trust Elevar Unitus Corporation

No. of shares

2,670,200

340,000 300,000

504,000

1,207,917

No. of shares

2,670,200

320,000

300,000

504,000

1,207,917

Number of shares outstanding at the beginning of the year

Number of shares outstanding at the end of the year

5,557,517

5,557,517

The Company has issued only one class of Shares, viz., Equity Shares. Each Equity Share has a face value

of Rs.10/- each and is entitled to one vote. On liquidation each share is entitled to participate in the assets

proportionate to the paid up value of the share.

3. Reserves and SurplusShare Premium Account As per Last Balance Sheet

Statutory Reserve As per Last Balance Sheet

Add: Transfer from Profit and Loss Account

Surplus, Balance in Profit and Loss Account

As per Last Balance Sheet

Add: Profit after tax for the year

Less: Transfer to Statutory Reserve

Total of Reserves and Surplus

207,918,753

93,015,000 29,300,000

122,315,000

364,679,513

146,322,430 511,001,943

29,300,000 481,701,943

811,935,696

207,918,753

71,125,000 21,890,000

93,015,000

277,117,540 109,451,973

386,569,513

21,890,000

364,679,513

665,613,266

Notes


5,557,517

5,557,517

31-3-2015 31-3-2014

55,57,517 Equity shares of Rs.10/- each fully Paid up 55,575,170 55,575,170

4. Long Term Borrowings

A) SECURED

Term Loans from Banks and Financial Institutions

Axis Bank

City Union Bank

Development Credit Bank

Dhanalakshmi Bank

Industrial Development Bank of India

South Indian Bank

Canara Bank

Small Industrial Development Bank of India

Lakshmi Vilas Bank

ING Vysys Bank

Mas Financial services limited

Reliance Capital Limited

Dena Bank

Indian Bank

Indusind Bank

ADFT

Maanaveeya Development and Finance (P) Ltd

Andhra Bank

Bank of Baroda

Bank of Maharashtra

IFMR Capital Finance Private Limited

Ratnakar Bank Limited

Reliance Home Finance

Tata Capital Financial Services Limited

Vijaya Bank

Habitat Microbuild India Housing Finance

207,142,858

17,204,218

130,625,011

187,539,697

531,944,448

-

140,404,041

122,225,000

120,797,795

86,111,544

384,166,669

71,692,722

110,000,000

83,189,849

22,500,000

37,103,295

66,666,652

50,000,000

100,000,000

74,669,273

89,858,403

150,000,000

179,817,922

37,500,200

82,500,000

15,000,000

133,333,340

28,932,226

63,333,340

114,682,547

558,333,334

33,328,000

80,743,508

34,344,998

37,498,771

163,889,517

100,000,000

200,000,000

100,000,000

50,000,000

50,000,000

-

-

-

-

-

-

-

-

-

-

-

-

Less: Payable within 12 months disclosed under

other Current Liabilities

All the above loans are secured by a charge on the advances granted to Self Help

Groups from the proceeds of the Loans.

3,098,659,597 1,748,419,581

1,822,912,597 925,769,866

1,275,747,000 822,649,715

Notes


31-3-2015 31-3-2014

ADFT Andhra Bank SIDBI

City Union Bank

Axis Bank

Axis Bank

Axis Bank





Dhanalakshmi Bank

Dhanalakshmi Bank

Dhanalakshmi Bank

Dhanalakshmi Bank

IDBI Bank

IDBI Bank

IDBI Bank

IDBI Bank

IDBI Bank

ING Vysya Bank

ING Vysya Bank

ING Vysya Bank

33,33,333

1,666,666

5,555,000

833,333

14,285,714

4,166,667

2,083,333

1,666,666

1,666,662

3,125,000

2,083,333

2,800,000

1,945,000

1,667,000

2,223,000

16,000,000

9,000,000

25,000,000

8,333,333

10,416,667

2,777,777

2,777,777

925,944

8,333,333

3,333,334

83,333,333

10,000,000

37,103,295

50,000,000

122,225,000

17,204,218

57,142,858

100,000,000

50,000,000

3,333,348

19,999,996

59,375,000

47,916,667

22,539,691

35,000,008

49,999,998

80,000,000

71,111,110

40,000,000

100,000,000

91,666,671

229,166,666

30,555,574

36,111,130

19,444,840

4,159,559

16,638,238

100,000,000

60,000,000

14.00%

13.75%

13.50%

14.50%

13.25%

13.25%

13.25%

12.70%

13.50%

13.00%

12.50%

13.75%

13.75%

13.75%

13.75%

12.25%

13.00%

12.25%

13.75%

13.75%

13.20%

13.20%

13.50%

36M 33M

30M

36M

24M

24M

24M

33M

26M

26M

26M

36M

36M

36M

36M

60M

60M

36M

27M

27M 39M

39M

39M

Quaterly

Monthly

Monthly

Monthly

Quaterly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Quaterly

Quaterly

Quaterly

Monthly

Monthly

Monthly

Monthly

Monthly

LVB

LVB

LVB

13.75%

14.25%

13.75%

Dena Bank 12.30% 33M

39M

39M

39M

Quaterly

Quaterly

Quaterly

Quaterly

Notes

The Terms of repayment of the Term Loans are as under :

Name of the

Bank


Rate of

interest

Tenor of

Loan

Mode of

Repayment

Bal. o/s as on

31.03.15

Instalment

Indian Bank

Indian Bank

Canara Bank

Canara Bank

Indusind Bank

Mas Financial Services Limited









Bank of Baroda

Bank of Maharashtra

Habitat Micro Build

14.00%

13.50%

12.95%

12.70%

13.75%

14.10%

14.10%

14.25%

14.25%

14.25%

14.25%

14.25%

14.25%

14.25%

13.50%

13.00%

15.50%

IFMR Capital Finance (P) Ltd

39M

39M

33M

36M

21M

24M

24M

24M

24M

24M

24M

24M

24M

24M

35M

36M

51M

14.50% 18M

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Quaterly

Quaterly

Quaterly

Quaterly

5,000,000

4,166,667

4,166,667

10,000,000

10,000,000

2,500,000

4,166,667

2,083,333

2,083,333

1,250,000

2,500,000

1,666,666

2,083,333

4,166,666

2,083,333

3,333,333

2,780,000

312,500

5,108,388

50,000,000

33,189,849

50,000,000

40,404,041

100,000,000

22,500,000

50,000,026

27,083,307

33,333,336

20,000,000

37,500,000

26,666,665

39,583,335

100,000,000

50,000,000

100,000,000

74,669,273

15,000,000

89,858,403

Dena Bank 12.05% 36M

Quaterly

Maanaveeya Development

and Finance (P) Ltd


Tata Capital Financial

Services Limited

Vijaya Bank




15.00%

13.50%

13.00%

13.75%

13.50%

14.25%

15.00%

39M

24M

24M

24M

36M

18M

18M

Quaterly

Monthly

Monthly

Monthly

Monthly

6,666,666

66,666,652

Quaterly

Quaterly

12,500,000

9,375,000

2,083,333

2,500,000

12,406,477

12,476,957

75,000,000

75,000,000

37,500,200

82,500,000

179,817,922

71,692,722

Notes

The Terms of repayment of the Term Loans are as under :


Rate of

interest

Tenor of

Loan

Mode of

Repayment

Bal. o/s as on

31.03.15

Instalment

Name of the

Bank

Flexi Grant

5. Other long Term liabilities

585,736 585,736

6. Other long Term Provisions

1,822,912,597

136,417,677

2,551,306

1,152,030

5,673,719 3,703,336

7. Short term borrowing - Cash credit from Banks Secured

City Union Bank OD

The above limit is secured by a charge on

the loans granted to Self Help Groups out

of the proceeds of the Loan. The Cash

Credit/OD facility is renewable every year

and carries interest at 14.50% per annum.

-

-

4,518,285

4,518,285

8. Other Current Liabilities

Current maturities of Long Term Debt

Sundry Creditors

420,619

881,756

1,472,615

1,220,957

4,628,210

1,478,233

-

- 992,764

977,612

2,938,009

-

1,959,330,274 1,069,711,232

9. Short term Provisions

Provision for Gratuity

Provision for Leave Encashment

Provident Fund and ESI contribution

Provision for Bonus

Provision for staff related expenditure

Provision for Assets Derecognized

10,102,390 4,908,385

925,769,866

143,941,366

3,965,999

1,707,720

Provision for employees

Provision for gratuity

Provision for leave encashment

Notes


31-3-2015 31-3-2014

585,736 585,736

10.Non Current Assets (a) Fixed Assets - (i)Tangible Assets

Cost as at 1.4.2014

Additions As at 31.3.2015

Sales

Cost block

Computers

Office Equipments

Plant and Machinery

Motor Vehicles


Electrical Fittings

12,089,583

10,588,597

711,511

3,563,524

1,195,367

95,825

4,162,762

292,480

-

973,823

1,041,095

1,194,438

-

-

-

-

-

-

16,252,345

10,881,077

711,511

4,537,347

2,236,462

1,290,263

28,244,407 7,664,598 35,909,005 -

Upto 1.4.2014

For the year As at 31.3.2015

Withdrawn

Depreciation Block

Computers

Office Equipments

Plant and Machinery

Motor Vehicles


Electrical Fittings

9,350,024

8,193,124

403,272

2,549,566

780,322

37,953

1,913,681

1,757,139

102,152

473,763

573,666

20,080

-

-

-

-

-

-

11,263,705

9,950,263

505,424

3,023,329

1,353,988

58,033

21,314,260 4,840,481 26,154,741 -

As at 31.3.2014

Net Block

Computers

Office Equipments

Plant and Machinery

Motor Vehicles


Electrical Fittings

2,739,559

2,395,473

308,239

1,013,958

415,046

57,872

6,930,147 9,754,264

4,988,640

930,814

206,087

1,514,018

882,475

1,232,230

As at 31.3.2015

11. (a) Fixed - Assets - Intangibles

Cost as at 1.4.2014


Sales

Cost block

Software

19,877,253 100,000 19,977,253 -

Micro Education Digital Products

10,258,294

9,618,959

100,000 10,358,294

9,618,959

Notes


Upto 1.4.2014

As at 31.3.2015

Withdrawn

Depreciation Block

Software

7,772,011 6,197,603 13,969,614 -


4,566,012

3,205,999

2,991,604

3,205,999

7,557,616

6,411,998

As at 31.3.2014

As at 31.3.2015

Net Block

Software

6,007,639 12,105,242


2,800,678

3,206,961

5,692,282

6,412,960

12.Intangible Assets under Development

The Company has taken up new product development activities in two areas, viz., Development of Digital

Business Education Course and Development of Microenterprise Risk assessment tools. The project has been

Completed. One set of the project has been sold to Madura Micro Education Private Limited for which shares

have been allotted by them. The other phase of the project has been capitalised under IntangibleAssets, the

details of which are given :

Opening Balance Expenses incurred during the year 22,925,790

Salaries

Rent and Electricity charges

1,447,244

45,925

- 24,418,959

14,800,000

9,618,959

Less: Transferred to Madura Micro Education P Limited

Capitalized under Intangible Assets

- -

2,000,000

14,899,000

2,000,000

14,899,000

16,899,000 16,899,000

13.Non Current Investments Trade investments

a)Investment in Equity Shares - Unquoted

I) In Subsidiary Company 14,89,900 Equity Shares of

Madura Micro Education P Ltd

II)In other Companies 200000 Equity Shares of Rs.10/-

each in Alpha Micro Finance Consultants P Ltd

Notes

For the year


31-3-2015 31-3-2014

(i) Deferred Tax Asset

On account of provision made allowable on basis of payment

(ii) Deferred Tax Liability

On Account of depreciation -663,424

15,865,130

344,519

10,392,903

16,528,554 10,048,384

14.Deferred Tax Assets (Net)

15.Long Term Loans and Advances

Microfinance and Other Loans

Unsecured Considered Good

Less: Provision for standard assets

825,811,000

8,258,110

554,583,000

5,545,830

817,552,890 549,037,170

16.Other Non Current Assets

Rent advance

Tax payments pending adjustment (net of provision) 5,770,110

10,917,381

5,147,271

-463,344

3,480,327

3,943,671

18.Cash and Cash Equivalents

Cash on hand

Bank balances in current account 64,094,008

347,562,090

57,485

38,604,133

143,731,487

118,430

Bank Balance in earmarked Deposit account

under lien to banks for various credit facilities granted

411,713,583 182,454,050

Bank Deposits includes deposit with a maturity of more

than 12 months on the date of the Balance Sheet

19.Short Term Loans and Advances

Microfinance and other loans repayable within

12 months - Unsecured - Considered good

Less: Provision for standard assets 27,141,377

2,682,333,578

2,709,474,955

17,437,688

1,725,345,065

1,742,782,753

Considered Doubtful

Less: Provision

2,822,062

-2,822,062

3,764,964

-3,764,964

2,682,333,578 1,725,345,065

Notes


31-3-2015 31-3-2014

17.Current Investments

120,539,435 102,903,038

Investment in Units of Mutual Fund - Unquoted

1,18,240.172 Units (Previous Year 1,00,940.175 units)

of UTI Liquid Fund Cash Plan

120,539,435 102,903,038

21.Revenue from operations

Interest on loans

Processing and other charges

Bad debts recovered

Interest from Banks

702,373,773

36,552,381 7,910,910

18,872,871

456,746,746

22,520,353 9,912,037

9,152,103

765,709,935 498,331,239

22.Other Income

Dividend received

Others

7,202,828

1,422,589

4,162,438

2,484,155

8,625,417 6,646,593

23.Employee Benefit Expenses

Salaries and wages

Honororium paid

Contribution to Provident Fund

Contribution to ESI

Contribution to Welfare fund



Staff welfare Expenses

81,559,710

13,777,174

7,175,021

1,750,740

7,274

1,514,852

1,923,928

1,764,224

53,661,141

9,358,533

4,740,460

1,264,688

5,656

144,098

48,838

1,955,638

109,472,923 71,179,052

24. Finance Cost

Interest on cash credit

Processing Charges

Interest on Term Loans

Other Interest

Bank charges

15,470

5,437,360

293,155,148

80,022

15,789,776

207,486

1,300,000

156,821,501

21,386

5,458,570

163,808,943 314,477,776

25.Other Expenses

Office Rent

Rates and Taxes

Electricity charges

Filing Fees

Insurance

Auditors' Remuneration for Audit

10,515,088

1,095

1,399,454

52,930

76,402

600,000

7,966,609

3,190

998,366

74,742

251,331

400,000

20.Other Current Assets

Advances recoverable in cash or in kind or for

value to be received-Unsecured Considered Good

Service tax input credit

Others

1,841,817

24,861,844

8,114,767

9,947,935

26,703,661 18,062,702

Notes31-3-2015 31-3-2014


91,047,260 115,430,545

For Certification and other services

Vehicle Maintenance

Office Maintenance

Bad Debts written off

Provision on Standard assets

Professional Fees

Provision for Non Performing Assets

SHG Formation Expenses

Provision on assets derecognized

Directors Sitting Fees

Traveling expenses

Other Expenses

427,950

365,300

3,551,823

24,561,717

12,415,969

17,038,341

-942,902

1,718,367

1,478,233

130,000

21,825,741

20,215,037

216,000

662,067

2,830,147

22,792,659

7,882,100

8,314,015

3,037,803

1,389,120

-

105,000

11,576,902

22,547,209

26. The Company is registered with Reserve Bank of India as a Non Banking Finance Company under

the category of NBFC - MFI.

27.Contingent Liabilities

a) Income tax demand disputed in appeal not provided for

Nil

7,101,923

28.The Penalty levied by the Assessing Officer for the Assessment Year 2007-08 amounting to Rs.71,01,923/- has been deleted by the Commissioner of Income tax (Appeals). The Income tax

Department has filed an appeal to the Income tax Appellate Tribunal. Based on professional advice, the Company is of the view that the appeal filed by the Department would be dismissed.

Apart from the above, there are no other pending litigations by/against the Company which might have a material impact of the financial statements.

29.Till last year, the gains arising on bilateral sale of loan was being accounted for in the year of sale

of the loan portfolio. From this year onwards the accounting policy has been changed in line with

the guidelines issued by Reserve Bank of India for Securitisation transactions as mentioned in Note

No.1(c)(iii) above. Since the Securitisation transaction has been undertaken on Par Structure, there is

no impact of the change of the Profit for the Year as per the Statement of Profit and Loss.

30.Related Party Transactions

Name of the Related Parties

i) Microcredit Foundation of India

ii) Ms.Tara Thiagarajan -Key Managerial Personnel

iii) Mr.Mohan Eddy -Whole Time Director

iv) Madura Micro Education Private Limited- Subsidiary Company

v) Scimergent Analytics and Education Private Limited -Associate Company

Notes


31-3-2015 31-3-2014

Details of Transactions with related parties

Remuneration to Key Managerial Personnel

I) Ms.Tara Thiagarajan

ii) Mr.Mohan Eddy - Whole Time Director

iii) Directors Sitting Fees

iv) Professional fees paid Scimergent

analytics and Education P Ltd

v) Value of Intangible Assets Transferred to Subsidiary

Company, Madura Micro Education Private Limited

vi) Amount due from Subsidiary Company, Madura Micro

Education Private Limited

4,784,004

3,999,996

130,000

6,817,500

-

7,397,262

3,592,002 1,666,665

105,000

-

14,800,000

6,068,964

31.Segment Information

The Company operates only in one segment - viz., financing of self help groups.

32.Post Employment Benefits

The Company has an unfunded defined benefit gratuity plan Details of Defined Benefit - Gratuity Plan

Fair Value of Plan Assets

Present value of unfunded obligation

Less: Unrecognised past service cost

Plan asset/(liability)

-

4,386,618

-

-4,386,618

-

2,551,306

-

-2,551,306

Change in the present value of Defined Benefit Gratuity Plan

Opening defined benefit obligation

Interest cost

Current Service cost

Actuarial (gains)/losses on obligation

Closing defined benefit obligation

2,551,306

-

1,923,928

-88,616

4,386,618

2,600,084

-

48,838

-97,616

2,551,306

Principal Assumptions used in determining of Defined Benefit Gratuity Plan

Discount Rate

Expected rate of return on plan assets

Salary increment rate

Attrition rate

Details of Other Defined Benefit Plan

Leave Encashment

Fair Value of plan assets


Less: Unrecognised past service cost Plan asset(liability)

-

2,589,476

-

-2,589,476

- 1,152,030

-

-1,152,030

7.80%

Not applicable

5%

15%

8.90%

Not applicable

10%

10%

Notes


31-3-2015 31-3-2014

Change in present value of Other Defined Benefit Plan

Opening denied benefit obligation

Interest cost




1,152,030

-

1,514,852

-77,406

2,589,476

1,144,604

-

144,098

-136,672

1,152,030

Principal Assumptions used in determining - Defined Benefit Gratuity Plan

Discount Rate


Salary increament rate

Attrition rate

Proportion of leave availment

7.8%

Not applicable

10%

15%

10%

8.9%

Not applicable

10%

15%

10%

33 .Provisions and contingencies

P rovision is recognised in the Balance Sheet when, the Company has a present obligation as a result

a p ast event and it is probable that an outflow of economic benefits will be required to settle the of obligation and a reliable estimate of the amount of the obligation can be made.

i) Provision for Standard Assets

Carrying amount at the beginning of the period

Additional provision made during the period

Amounts used (i.e., incurred and charged against the provision)

Amount of provision at the end of the period

22,983,518

12,415,969

-

35,399,487

15,101,418

7,882,100

-

22,983,518

ii) Provision for Non-Performing Assets



Amounts used (i.e., incurred and charged against the provision)

Unutilised amounts reversed during the period


3,764,964

-942,902

-

-

2,822,062

727,161

3,037,803

-

-

3,764,964

35.Expenditure in Foreign Currency

Professional Fees (previous year included

under Intangible Assets under Development)

Travelling Expenses

Nil 1,617,620

947,577

571,304

36.As required under section 135 of the Companies Act, 2013, the Company has set up a Corporate

Social Responsibility Committee. The Committee has evolved policies for CSR Spending. The Company

is required to spend Rs.19.50 lakhs on CSR during the year. Pending finalisation of the suitable projects

, in line with the policies laid down the Company has not been able to spend any money on CSR activities.

Notes


31-3-2015 31-3-2014

37. Earnigs per Share - Basic and Diluted

Profit as per Tax

Number of Equity Shares of face value of Rs.10/- each

Earnings per share - Basic and Diluted

146,322,430

5,557,517

26.33

109,451,973

5,557,517

19.69

38.Details required under Reserve Bank of India,NBFC Directions

Sl.

No. Particulars

Amount

Overdue

(Rs. in lakhs)

Amount

Outstanding

(Rs. in lakhs)

Amount

Overdue

(Rs. in lakhs)

Liabilities Side

Loans and Advances availed

by NBFCs inclusive of interest

accrued there on but not paid

(a) Debentures - Secured

(b) Debentures - Unsecured

(c) Deferred Credits

(d) Term Loans

(e) Intercorporate Loan

and borrowing

(f) Commercial Paper

(g) Public deposits

(h) Other Loans - Overdraft

Amount

Outstanding

(Rs. in lakhs)

Nil

Nil

Nil

30,986.60

Nil

Nil

Nil

-

1.

Nil

Nil

Nil

17,484.20

Nil

Nil

Nil 45.18

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil Nil

Break up of 1(g) above (Outstanding public deposits inclusive of interest accrued thereon but not paid) 2.

(a) In the form of unsecured

debentures

(b) In the form of partly secured

debentures, i.e. debentures

where there is a shortfall in

the value of security

(c) Other public deposits

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Break up of Loans and Advances including bills receivable(other than those included in 4 below) (Net

of NPA Provision)

Assets Side

3.

(a) Secured

(b) Unsecured

Nil

35,352.86

Nil

Nil

Nil

22,973.66

Nil

Nil

Notes


Nil

Nil

Nil

31-3-2015 31-3-2014

4. Break up of Leased Assets and stock on hire and hypothecation loans counting towards EL/HP activities

I( )Leased assets including lease

rentals under sundry debtors

a) Financial Lease

b) Operating Lease

(ii) Stock on hire including hire

charges under sundry debtors

a) Asset on hire

b) Repossessed assets

(iii) Hypothecation Loans counting

towards EL/HP activities

a) Loans where assets have

been repossessed

b) Loans other than (a) above

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

5. Break up of Investments - Current Investments

1. Quoted

i) Shares: (a) Equity

(b) Preference

ii) Debentures and Bonds

iii) Units of mutual funds

iv) Government securities

v) Others

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Long Term Investments - (Break up of Investments Continued)

Nil

Nil

Nil

1,205.39

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

1,029.03

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

2. Unquoted


(b) Preference




v) Others

1. Quoted


(b) Preference




v) Others

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

168.99

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

2. Unquoted


(b) Preference




v) Others

Nil

Nil

Nil

Nil

Nil

Nil

Notes


168.99

Nil

Nil

Nil

Nil

Nil

31-3-2015 31-3-2014

7. Investor group-wise classification of all investments current and long term in shares and securities

(both quoted and unquoted)

31-3-2015 31-3-2014

6. Borrower group-wise classification of all leased assets, stock-on-hire and loans and advances

Category

1. Related Parties a) Subsidiaries

b) companies in the same group c) Other related parties

2. Other than related parties

TOTAL

Amount net of NPA provisions

Secured Unsecured Total

Nil

Nil

Nil

Nil

Nil

Nil

-

- -

35,352.86 35,352.86

35,352.86 35,352.86



Nil

Nil

Nil

Nil

Nil

Nil

-

-

-

22,973.66 22,973.66

22,973.66

Market

Value/NAV

or face value

Book Value

Net of

provisions

Market

Value/NAV

or face value

Book Value

Net of

provisions

Nil

Nil

Nil

148.99

Nil

Nil

Nil

Nil

Nil

148.99

Nil

Nil

Nil

Nil 1,225.39 Nil 1,049.03

1,374.38 Nil 1,049.03

Category




TOTAL

8. Other Information

1.Gross Non-Performing Assets

(a) Related Parties

(b) Other than related parties

2.Net Non-Performing Assets

(a) Related Parties


3. Assets acquired in

satisfaction of debts





Nil

Nil

Nil

62.37

Nil

Nil

Nil

71.69

Nil

62.37

Nil

71.69

Nil

Nil

Nil

34.15

Nil

Nil

Nil

34.04

Nil

34.15

Nil

34.04

Nil Nil Nil Nil Nil Nil

9. Customer Complaints

a) Number of Complaints pending as the beginning of the year

b) Number of Complaints received during the year

c) Number of Complaints redressed during the year

d) Number of Complaints pending as at the end of the year

31-3-2015 31-3-2014

Nil

52

52

Nil

Nil

23

23

Nil

10.Details of Registration with Financial Regulators

a) Ministry of Corporate Affairs

b) Reserve Bank of India

c) Microfinance Institutional Network

CIN No.U65929TN2005PLC057390

N.07.00754

20

Notes


22,973.66 -

11.Ratings assigned by Credit Rating Agencies

Commercial Paper

Working Capital Facility (Cash credit/WCDL)

Long Term Bank Facilities

Long Term Non-Convertible

debentures (allotted in May 2015)

MFI Grading

Subordinated Debt

Perpetual Debt

Not applicable

Not applicable

(ICRA) BBB-Positive

(ICRA) BBB-Positive

M 2

Not applicable

Not applicable

Not applicable

Not applicable

(ICRA) BBB-stable

Not applicable

MFR 3

Not applicable

Not applicable

12.C oncentration of Advances, Exposures and NPAs

The Company operates primarily in the business of microfinance providing collateral free loans for

fixed amounts ranging from Rs. 14,000/- to Rs. 42,000/- predominantly to rural and semi urban women.stA s on 31 March 2015, th e Company provided loans to more than 2.39 lakhs women and hence the

disclosure relating to concentration of Advances, Exposures and NPAs are not applicable to the Company.

13.S ector wise NPAs as at the end of the year Percentage of NPAs to total

advances in that sector

a) Agriculture and Allied Activities

b) MSME

18.09%

81.91%

9.40%

90.60%

14.Movement of NPAs

a) Net NPAs to total Advances (%)

b) Movement of NPAs (Gross)

i) Opening Balance

ii) Additions during the year

iii) Reduction during the year

iv) Closing balance

c) Movement of Net NPAs

i) Opening Balance



iv) Closing balance

d) Movement of provision for NPAs excluding standard assets

i) Opening Balance

ii) Provision made during the year

iii) Write off/write back of excess provisions

iv) Closing balance

0.10%

7,169,182

5,200,301

6,132,298

6,237,185

3,404,218

2,689,304

2,678,399

3,415,123

3,764,964

2,510,997

3,453,899

2,822,062

0.15%

7,271,584

6,341,785

6,444,187

7,169,182

1,566,028

3,037,804

1,199,614

3,404,218

5,705,556

3,303,981

5,244,573

3,764,964

15.Disclosure relating to Securitisation

During the year, the Company has sold assets through

securitisation. The information on securitisation activity of

the Company as an originator is furnished below: a) Total number of loans securitised or assigned

b) Total book value of loans securitised or assigned

c) Total book value of loans securitised or assigned including

loans placed as collateral

19,935

1,583.99

1,649.71

Nil

Nil

Nil

Notes


31-3-2015 31-3-2014

d) Sale consideration received for loans

securitised / assigned

e) Excess interest spread recognised in the

Statement of Profit and Loss

f) Credit enhancements provided

and outstanding (gross)

i) Interest subordination

- for PTC Series A1

- for PTC Series A2

ii) Principal subordination

- for PTC Series A1

- for PTC Series A2

iii) Cash collateral

Number of SPVs sponsored by the Company for

securitisation during the year. Total amount of securitised assets as per the books

of the SPVs sponsored by the Company as on the date

of balance sheet. Total amount of exposure retained by the Company to

comply with minimum retention requirement as at

the date of the balance sheet. a) Off balance sheeet exposures

i) First Loss ii) Others

b) On balance sheet exposures i) First Loss

ii) Others

Amount of Exposures to other than MRR a) Off Balance sheet exposures

i) Exposure to own securitisations

ii) Exposure to third party securitisations

b) On balance sheet exposures

i) Exposure to own securitisation

ii) Exposure to third party securitisation

The Company has not sold financial assets to securitisation / reconstruction companies for asset reconstruction in the current and previous year.

The Company has not undertaken assignment transaction in the current and previous year.

The Company has not purchased/sold non performing financial assets during the current and previous year.

1,583.99

0.04

9.58%

9.16%

5.98%

3.98%

6.10%

1

1649.71

Nil

Nil

100.63

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

16.Details of penalties imposed by RBI and other Regulators

No penalties have been imposed by RBI and other Regulators during the current and previous year.

17.Information on instances of fraud Year ended 31-3-2014

No frauds reported during the year

Notes


31-3-2015 31-3-2014

Year ended 31-3-2015


18.Information on net interest margin

Average interest

Average effective cost of borrowing

Net interest margin

25.09%

15.11%

9.98%

25.29%

13.78%

11.51%

2) Exposure to Real Estate Sector

Category

A. Direct exposure

(i) Residential Mortgages -

Lending fully secured by mortgages on residential property

that is or will be occupied by the borrower or that is rented;

(Individual housing loans upto Rs.15 lakh may be shown

separately)

(ii) Commercial Real Estate -

Lending secured by mortgages on commercial real estate s

(office buildings, retail space, multipurpose commerci al

premises, multi-family residential buildings, multi-tenante d

commercial premises, industrial or warehouse space, hote ls

land acquisition, development and construction, etc. ).

Exposure would also include non-fund based (NFB) limits;

(iii) Investments in Mortgage Backed Securities (MBS) and other

securitised exposures-

a. Residential.

b. Commercial Real Estate.

B. Indirect Exposure

Fund based and non-fund based exposures on National

Housing Bank (NHB) and Housing Finance Companies (HFCs)

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

19.Information required by Reserve Bank of India - Prudential Norms

1) Capital Adequacy Ratio Items

i) Captial to Risk Assets Ratio

a) CRAR (%)

b) CRAR - Tier I Capital (%)

c) CRAR - Tier II Capital (%)

23.57%

22.63%

0.94%

28.43%

27.54%

0.89%

Notes


31-3-2015 31-3-2014

Pa

rtic

ula

rsU

pto

1

mo

nth

Ov

er

1 m

on

th

up

to 2

mo

nth

s

Ov

er

2 m

on

ths

up

to 3

mo

nth

s

Ov

er

3 m

on

ths

up

to 6

mo

nth

s

Ov

er

6 m

on

ths

up

to 1

Ye

ar

Ov

er

1 Y

ea

r

up

to 3

Ye

ars

Ov

er

3 Y

ea

rs

up

to 5

Ye

ars

Ov

er

5 Y

ea

rs

To

tal

LIA

BIL

ITIE

S:

Bo

rro

win

gs

fro

m B

an

ks

an

d F

ina

nci

al in

stit

uti

on

s

AS

SE

TS

:

Mic

ro F

ina

nce

an

d o

the

r

loa

ns

Inve

stm

en

ts

De

po

sits

wit

h B

an

ks

1,3

84

.85

(5

56

.58

)

2,9

85

.94

(1

,79

5.0

6)

1,2

05

.39

(1

,02

9.0

3)

7.7

3

(3

2.5

4)

1,3

65

.44

(6

13

.25

)

2,8

92

.53

(1

,75

4.7

9) -

-

27

8.1

2

-

1,8

10

.72

(1

,28

9.9

5)

2,7

82

.07

(1

,70

2.0

8) -

-

-

(2

5.0

0)

4,8

00

.35

(2

,48

8.1

6)

7,4

81

.60

(4

,76

3.6

3) -

-

15

9.4

1

(3

3.8

0)

8,8

67

.76

(4

,30

9.7

6)

10

,98

1.0

1

(7

,41

9.4

3) -

-

1,1

66

.71

(4

1.5

6)

1

2,6

16

.98

8,2

57

.86

(5

,53

8.6

7) -

-

1,8

13

.41

(1

,30

4.4

2)

14

0.4

9

(8

,27

1.6

8)

0.2

5

-

-

50

.24

-

-

-

-

-

16

8.9

9

-1

68

.99

-

-

30

,98

6.5

9

(17

,52

9.3

8)

3

5,3

81

.26

(2

2,9

73

.66

)

1,3

74

.38

(1

,19

8.0

2)

3,4

75

.62

(1

,43

7.3

2)

Fig

ure

s in

bra

cke

ts r

ela

te t

o t

he

pre

vio

us

ye

ar

Sig

na

ture

s to

No

tes

-

Fo

r S

.N.S

Ass

oci

ate

sC

HA

RTE

RED

AC

CO

UN

TAN

TS(F

IRM

REG

ISTR

ATIO

N N

o:0

06

29

7 S

)S

.NA

GA

RA

JAN

(P

art

ner

)M

EM

BER

SH

IP N

o:2

08

99

Tara

Thia

gara

jan

Man

ag

ing

Dir

ecto

rM

ohan E

ddy

Wh

ole

tim

e D

irecto

rS

anin

Pa

nic

ker

Co

mp

an

y S

ec

reta

ry

thC

he

nn

ai /

Da

te: 0

4 Ju

ly 2

01

5

3)

Ma

turi

ty p

att

ern

of

ass

ets

an

d l

iab

ilit

ies

(Rs.

in

la

kh

s)


12

,08

9,5

83

4

,16

2,7

62

16

,25

2,3

45

9

,35

0,0

24

1,9

13

,68

11

1,2

63

,70

54

,98

8,6

40

2,7

39

,55

9

10

,58

8,5

97

29

2,4

80

10

,88

1,0

77

8,1

93

,12

41

,75

7,1

39

9,9

50

,26

39

30

,81

42

,39

5,4

73

71

1,5

11

-

71

1,5

11

40

3,2

72

10

2,1

52

50

5,4

24

20

6,0

87

30

8,2

39

3,5

63

,52

49

73

,82

34

,53

7,3

47

2,5

49

,56

64

73

,76

33

,02

3,3

29

1,5

14

,01

81

,01

3,9

58

1,1

95

,36

71

,04

1,0

95

2,2

36

,46

27

80

,32

25

73

,66

61

,35

3,9

88

88

2,4

74

41

5,0

45

95

,82

51

,19

4,4

38

1,2

90

,26

33

7,9

53

20

,08

05

8,0

33

1,2

32

,23

05

7,8

72

Co

mp

ute

r

Pla

nt

an

d

Ma

chin

ery

Mo

tor

Ve

hic

les

Fu

rnit

ure

an

d

Fit

tin

gs

Ele

ctri

cal

Fit

tin

gs

SC

HE

DU

LE

OF

FIX

ED

AS

SE

TS

Tan

gib

le A

sse

ts

Inta

ng

ible

Ass

ets

So

ftw

are

Mic

ro E

du

cati

on

Dig

ita

l P

rod

uct

s

4

, 5 6

6,0

12

10

,25

8,2

94

1

0 0 , 0 0 0

10

,35

8,2

94

2

,99

1,6

04

7

,55

7,6

16

2

,80

0,6

78

5

,69

2,2

82

9,6

18

,95

9

-

9

,61

8,9

5 9

3

,20

5,9

99

3

,20

5,9

9 9

6

,41

1,9

98

3 , 2

0 6

,96

1

6,4

12

,96

0

19

,87

7,2

53

10

0,0

0 0

1 9

,97

7,2

5 3

7

,77

2,0

1 1

6

,19

7,6

03

6

,00

7,6

39

12

,10

5,2

42

1

3,9

69

,61

4

2

8,2

44

,40

7

7,6

64

,59

8

35

,90

9,0

05

21

,31

4,2

61

4,8

40

,48

1

26

,15

4,7

42

9

,75

4,2

63

6

,93

0,1

46

C

OS

T B

LO

CK

D

EP

RE

CIA

TIO

N B

LO

CK

WD

V

As

at

1-4

-20

14

Ad

dit

ion

sTo

tal

Up

toF

or

the

Ye

ar

To

tal

31

-3-2

01

53

1.0

3.2

01

43

1.0

3.2

01

4

MA

DU

RA

MIC

RO

FIN

AN

CE

LIM

ITE

D A

CC

OU

NT

S F

OR

TH

E Y

EA

R 2

01

5(R

s. i

n l

ak

hs)





Current Liabilities




Shareholders' Funds

(a) Share Capital


20,208,924

7,397,262

4

5

3,750,209

27,606,186

14,900,000

-4,328,659

-

6,068,964

10,571,341.0

6,068,964

93,740

470,219

112,167

6

7

8

676,126

-

567,191

-

567,191

32,032,521 17,207,496

352,916

10,923,282

722,220

475,062

Non Current Assets

(a) Fixed Assets

(i) Tangible Assets



(b) Other non current assets

ASSETS

Current Assets

(a) Cash and cash equivalents

(b) Other non current assets

9

10

12,473,480 15,090,659

19,419,007

140,034

221,518

1,895,319

19,559,041 2,116,837

32,032,521 17,207,496

-

12

13

11

14,900,000

-11,149,791

-

14,732,659

-

358,000

EQUITY AND LIABILITIES

Note no

2

3

Balance Sheet





Tara Thiagarajan

Director

Mohan Eddy

Director


As at

31.03.2015 31.03.2014

As at

65Madura Microeducation


IV. Expenses:


Finance Cost

Depreciation

Other Expenses

Total Expenses





II. Other Income

III. Total Revenue

14

15

3,581,656

813,098

5,524,168

2,584,362

16

179 & 10

18

5,682,152

12,503,284

2,324,500

6,500

1,942,116

14,227

84,341

4,618,975

2,331,000

6,659,659

-6,821,132

-

-6,821,132

-4,328,659

-

-4,328,659

Current tax

Deffered tax

4,536,500

1,145,652




X. Tax expense

XI. Profit or loss for the period from



operations





(1) Basic

(2) Diluted

-6,821,132

-

-4,328,659

-

-

-

-

-

-

-

-

-6,821,132

-

-

-

-4,328,659

-2.91

-2.91

-4.58

-4.58

-6,821,132 -4,328,659

Profit and Loss

Year ended at

31.03.2015 31.03.2014


Year ended at




Note no



Tara Thiagarajan

Director

Mohan Eddy

Director


1. Significant Accounting Policies

The Fixed Assets are stated at cost.

The Fixed Assets are depreciated on Staright Line Basis at the following

rates:

Educational content on digital media and

other software

Computer accessories

Office Equipment

Since the useful life adopted for arriving at the above rates is shorter than the

useful life specified in Schedule II of the Companies Act, 2013, no further

charges are required.

The fees receivable in respect of courses conducted is reckoned on accrual basis

on the basis of the courses conducted during the year. Other income is accounted

for on accrual basis.


Notes to Financial Statements

b) Fixed Assets

a) The accompanying financial statements are prepared on historical cost

convention and materially comply with the mandatory accounting standards

issued under the Companies Act, 2013

d) Expenses are accounted for on accrual basis.

e) The provisions of Payment of Gratuity Act are not applicable to the Company.

The Company contributes to Provident Fund and Employees State Insurance which

are charged off to revenue as incurred.

Authorised:

2. Share Capital

50,00,000 Equity shares of Rs.10/- each 50,000,000

Issued,Subscribed and Paid up:

14,90,000 Equity Shares of Rs.10/- each

fully paid up 14,900,000 14,900,000

Notes:

1. Reconciliation of the number of shares outstanding at the beginning and end of the year

Number shares at the beginning of the period

Shares issued during the year

Shares outstanding at the end of the period

33.33%

33.33%

20.00%

33.33%

-

-

1,490,000

-

1,490,000

-

1,490,000

1,490,000

Notes

50,000,000


31-3-2015 31-3-2014

2. Details shares held by a shareholder holding more than 5% of the issued shares

Name of the Shareholder N o. of shares No. of shares Madura Micro Finance Limited 1,489,900

1,489,900

3. Details of shares held by holding a company

Name of the holding company No. of shares No. of shares


4. Details of shares allotted for a consideration other than cash 1,480,000 1,480,000

1,489,900

1,489,900

3. Reserves and Surplus

Debit balance in profit and loss statement

Loss for the year

-4,328,659

-6,821,132

-

-4,328,659

-11,149,791

-4,328,659


Borrowings from National Skill Development Corporation

Secured by a charge on the assets acquired out of the loan, project cash flows and intellectual

property of the Company. The Company is also secured by a corporate guarantee issued by the

Holding Company, Madura Micro Finance Limited. The Loan is repayable over a period of

eight years with an initial moratorium of 4 years. The loan carries interest at 6% per annum.

20,208,924

-

20,208,924

-


The amount due to the holding company Madura Micro Finance Limited is repayable after

31.03.2017 and hence the entire amount outstanding is classified under the other Long term

liability.

5. Other Long Term Liabilities

7,397,262 6,068,964

7,397,262 6,068,964

ICICI Bank Adyar

Represents cheques issued in excess of the balance available with the Bank.

6. Short Term Borrowings

93,740 -

93,740 -

Sundry Creditors

Represents cheques issued in excess of the balance available with the Bank.

7. Other Current Liabilities:

470,219 567,191

470,219 567,191

33,923

78,244

- -

8. Short Term Provisions


Provident Fund and ESI Contribution

Other Provisions 112,167 -

Notes


31-3-2015 31-3-2014

(a) Fixed - Assets - Tangibles9.

Cost as at 1.4.2014


Cost block

Computer Accessories

Office Equipment

-

-

226,050

157,560

- 383,610

226,050

157,560

383,610

Upto 31.3.2014

For the Year As at 31.3.2015

Depreciation Block


Office Equipment

-

-

29,744

950

- 30,694

29,744

950

30,694

As at 31.3.2014

As at 31.3.2015

Net Block

-

-

-

196,306

156,610

352,916

90,000

27,062

358,000

11.Other Non-Current Assets

Rent Advance

Tax Deducted at Source

Preliminary Expenses (to the extent not

written off or adjusted)

475,062 358,000

-

-

358,000

10.(b) Fixed -Assets - Intangibles

Cost as at 1.4.2014


Cost block

14,800,000

17,000

1,625,906

58,191

14,817,000 1,684,097

16,425,906

75,191

16,501,097

Upto 31.3.2014

For the Year As at 31.3.2015

Depreciation Block

81,096

3,245

5,483,663

9,811

84,341 5,493,474

5,564,759

13,056

5,577,815

As at 31.3.2014

As at 31.3.2015

Net Block

Educational content on digital Media

Other Software

14,718,904

13,755

14,732,659

10,861,147

62,135

10,923,282


Office Equipment


Other Software


Other Software

Notes


31-3-2015 31-3-2014

12.Cash and Cash equivalents

Balances with banks in current account

Deposits with banks

-

19,419,007

221,518

-

19,419,007 221,518



Prepaid expenses

Others

-

45,000

95,034

1,829,280

-

66,039

140,034 1,895,319

14.Revenue from Operations

Course Fees received 4,536,500 2,324,500

4,536,500 2,324,500

15.Other Income

Interest on deposits with Bank

Profit on sale of Investment in Mutual Fund

Other Income

270,615

875,037

-

-

-

6,500

1,145,652 6,500


Salary & Wages


Contribution to Employee state insurance


Contribution to Leave Encashment

3,428,792

129,168

20,574

168

2,954

1,942,116

-

-

-

-

3,581,656 1,942,116

17.Finance Cost

Interest paid National Skill Development Corporation

Other Interest

Bank Charges

811,430

-

1,668

-

1,220

13,007

813,098 14,227

18.Other Expenses

Office Rent

Rates and Taxes

Interns Fees

Electricity charges

Filing Fees

Office Maintenance

Professional Fees

Traveling expenses

Service tax payment

Other Expenses

Auditors' Remuneration - For Audit

For others

225,000

2,190

-

-

12,435

2,158

989,221

972,648

143,314

176,688

57,000

3,708

107,500

-

98,162

14,746

1,000

16,070

3,226,069

745,301

164,141

215,986

30,000

-

2,584,362 4,618,975

Notes


31-3-2015 31-3-2014

19 .The Company has taken up the development of Programmes for Teach 70 Consumer Literacy which is under Progress. The expenses incurred for this project has been capitalised and shown under Capital Work in Progress.

20.In view of the loss, provision for taxation is not considered necessary

21.Though the Company has unabsorbed losses, it has been considered prudent not to recognise any Deferred Tax Asset.

22.Earnings in foreign Exchange Nil Nil

23.Expenditure in foreign currency Professional Fees 51,297 486,790

24.Earnings per share (not annualised) Loss for the period

Number of Shares outstanding at the end of the period Earnings per share

-6,821,132

1,490,000

-4.58

-4,328,659

1,490,000

-2.91




Tara Thiagarajan

Director

Mohan Eddy

DirectorthChennai / Date: 04 July 2015

Notes


31-3-2015 31-3-2014

-

2

26

,05

0

- 2

26

,05

0

- 2

9,7

44

2

9,7

44

19

6,3

06

-

- 1

57

,56

0

-1

57

,56

0

- 9

50

9

50

15

6,6

10

-

Co

mp

ute

r A

cce

sso

rie

s

PA

RT

ICU

LA

RS

-

3

83

,61

0

-

3

83

,61

0

30

,69

4

3

0,6

94

3

52

,91

6

As

at

1-4

-20

14

Ad

dit

ion

sTo

tal

Up

toF

or

the

Ye

ar

To

tal

31

-3-2

01

53

1-0

3-2

01

43

1.0

3.2

01

4

MA

DU

RA

MIC

RO

ED

UC

AT

ION

PR

IVA

TE

LIM

ITE

D

DE

PR

EC

IAT

ION

FO

R T

HE

AS

SE

SS

ME

NT

YE

AR

20

15

-16

Sa

les

Off

ice

E

qu

ipm

en

ts

-

1

4,8

00

,00

0

1,6

25

,90

6.0

0

- 1

6,4

25

,90

6

8

1,0

96

5

,48

3,6

63

5

,56

4,7

59

1

0,8

61

,14

7

1

4,7

18

,90

4

17

,00

0

58

,19

1

- 7

5,1

91

3

,24

5

9

,81

1

13

,05

6

62

,13

5

1

3,7

55

So

ftw

are

Dig

ita

l

Me

dia

1

4,8

17

,00

0

1

,68

4,0

97

-

1

6,5

01

,09

7

5

,49

3,4

73

5

,57

7,8

14

1

0,9

23

,28

3

C

OS

T B

LO

CK

D

EP

RE

CIA

TIO

N B

LO

CK

W

DV

As

at

1-4

-20

14

Ad

dit

ion

sTo

tal

Up

toF

or

the

Ye

ar

To

tal

31

-3-2

01

53

1-0

3-2

01

43

1.0

3.2

01

4

Sa

les

So

ftw

are

8

4,3

41

1

4,7

32

,65

9

PA

RT

ICU

LA

RS

C

OS

T B

LO

CK

D

EP

RE

CIA

TIO

N B

LO

CK

W

DV


16,501,097 3,291,068 13,210,029

Computer

accessories

Softline Technologies



60,500 33.33% 2 22 12,265 48,235 2 2.08.2014

Office Equipment

157,560 20.00% 11 950 156,610 21.03.2015

26,950 33.33% 1 60 3,938 23,012 23.10.2014

138,600 33.33% 107 1 3 ,542 125,058 15.12.2014

226,050 29,744 196,306

Fstop Camera

Purchase

Amount

Rate of

Dep.

No.of.

days

Dep

WDV

Software

ParticularsOpenning Balence

Software

Software Digital Media

17,000

14,800,000

33.33%

33.33%

365

365

5,666

4,932,840

11,334

9,867,160

Additions 31.03.2015



1,625,906

58,191

33.33%

33.33%

365

78

541,914

4,145

1,083,992

54,046

13.01.2015

For Last Year 2014

16,501,097 5,484,565 11,016,532

1,625,906 33.33% 6 8,908 1,616,998

Software

ParticularsOpenning Balence

Software


17,000

14,800,000

20.00%

20.00%

365

365

3,400

2,960,000

13,600

11,840,000

Additions 31.03.2015



1,625,906

58,191

20.00%

20.00%

365

78

325,181

2,487

1,300,725

55,704

13.01.2015

For Last Year 2014 1,625,906 20.00% 6 5,345 1,620,561

(a) Fixed - Assets - Intangibles Additions

during

the period

Depreciation

for the

period

WDV

as at

31-3-2014

14,817,000 50,604 14,766,396 Software

Notes


INDEPENDENT AUDITOR’S REPORT

TO THE BOARD OF DIRECTORS OF MADURA MICRO FINANCE LIMITED

Report on the Consolidated Financial Statements

We have audited the accompanying Consolidated Financial Statements of MADURA MICRO

FINANCE LIMITED (hereinafter referred to as the Holding Company), its Subsidiary Madura Micro

Education Private Limited (the Holding Company and its subsidiary together referred to as “the stGroup”) comprising of the Consolidated Balance Sheet as at 31 March 2015, the Consolidated

Statement of Profit and Loss for the year then ended, the Consolidated Cash Flow Statement for

the year then ended and a summary of the significant accounting policies and other explanatory

information. (hereinafter referred to as the Consolidated Financial Statements)

Management's Responsibility for the Consolidated Financial Statements

The Holding Company's Board of Directors is responsible for the preparation of these

Consolidated Financial Statements in terms of the requirements of the Companies Act 2013 that

give a true and fair view of the consolidated financial position, consolidated financial performance

and the consolidated cash Flows of the Group including its subsidiary and associates in

accordance with the accounting principles generally accepted in India, including the Accounting

Standards specified under 133 of the Act read with rule 7 of the Companies (Accounts) Rules,

2014. The respective Board of Directors of the Companies whose accounts are included in these

Consolidated Financial Statements are responsible for the maintenance of adequate accounting

records in accordance with the provisions of the Act for safeguarding of the assets of the Group

and for preventing and detecting frauds and other irregularities; selection and application of

appropriate accounting policies; making judgments and estimates that are reasonable and

prudent; and design, implementation and maintenance of adequate internal financial controls,

that were operating effectively for ensuring the accuracy and completeness of the accounting

records, relevant to the preparation and presentation of the financial statements that give a true

and fair view and are free from material misstatement, whether due to fraud or error, which have

been used for the purpose of preparation of the Consolidated Financial Statements by the

Directors of the Holding Company, as aforesaid.

Auditors' Responsibility

Our responsibility is to express an opinion on these Consolidated Financial Statements based on

our audit. While conducting the audit, we have taken into account the provisions of the Act, the

accounting and auditing standards and matters which are required to be included in the audit

report under the provisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified under Section

143(10) of the Act. Those Standards require that we comply with ethical requirements and plan

Auditor’s Report


and perform the audit to obtain reasonable assurance about whether the financial statements are

free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the

disclosures in the financial statements. The procedures selected depend on the auditor's

judgment, including the assessment of the risks of material misstatement of the financial

statements, whether due to fraud or error. In making those risk assessments, the auditor

considers internal financial control relevant to the Company's preparation of the financial

statements that give a true and fair view in order to design audit procedures that are appropriate

in the circumstances. An audit also includes evaluating the appropriateness of the accounting

policies used and the reasonableness of the accounting estimates made by the Company's

Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a

basis for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us,

the aforesaid Consolidated Financial Statements give the information required by the Act in the

manner so required and give a true and fair view in conformity with the accounting principles

generally accepted in India:

st (I) In the case of the Consolidated Balance Sheet of the state of affairs of the Group as at 31

March, 2015:

(ii) In the case of the Consolidated Statement of Profit and Loss of the Profit of the Group for

the year ended on that date; and

(iii) In the case of the Consolidated Cash Flow Statement of the cash flows of the Group for

the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors' Report) Order, 2015,(“the Order”), issued by the

Central Government of India in terms of sub-section (11) of section 143 of the Act, based on

the comments in the Auditors' Report of the Holding Company and Subsidiary Company

incorporated in India, whose accounts are included in these Consolidated Financial

Statements, we give in the Annexure a statement on the matters specified in the paragraph 3

and 4 of the Order, to the extent applicable.

2. As required by Section 143(3) of the Act, we report that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

Auditor’s Report


b) In our opinion, proper books of account as required by law relating to preparation of

the aforesaid Consolidated Financial Statements have been kept so far as it appears

from our examination of those books.

c) The Consolidated Balance Sheet and, the Consolidated Statement of Profit and Loss and

the Consolidated Cash Flow Statement dealt with by this Report are in agreement with

the relevant books of account maintained for the preparation of the Consolidated

Financial Statements.

d) In our opinion, the aforesaid Consolidated financial Statements comply with the

Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the

Companies (Accounts) Rules, 2014.

e) On the basis of the written representations received from the directors of the Holding stCompany as on 31 March, 2015 taken on record by the Board of Directors of the

Holding Company and the reports of the Statutory Auditors of the Subsidiary Company

incorporated in India, none of the directors of the Group Companies is disqualified as st on 31 March, 2015 from being appointed as a director in terms of Section 164 (2) of the

Act.

f) With respect to the other matters to be included in the Auditor's Report in accordance

with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to

the best of our information and according to the explanations given to us and based on

the report of the Statutory Auditors of the Subsidiary Company and the Associate

Company:

(I) The Consolidated Financial Statements disclose the impact of pending litigations on

the consolidated financial position of the Group. Please refer Note No.27 of the

Notes forming part of the Consolidated Financial Statements.

(ii) The Group and its Associate Company did not have any long term contracts including

derivative contracts for which there were any material foreseeable losses.

(iii)T here has been no delay in transferring amounts, required to be transferred, to the

Investor Education and Protection Fund by the Holding Company, its Subsidiary and

its Associate Company incorporated in India.

Chennai

Dated: July 4, 2015.



Auditor’s Report


Annexure to the Independent Auditors' Report

As required by the Companies (Auditors' Report) Order, 2015 (“the Order”), we report that:

(i) (a) The Group has maintained proper records showing full particulars, including quantitative

details and situation of fixed assets.

(b) The Fixed Assets of the Group have been physically verified by the respective Management

during the year and no material discrepancies were noticed on such verification.

(ii) The Group does not have any inventories.

(iii) The Group has not granted any loans secured or unsecured to companies, firms or other

parties covered in the register maintained under section 189 of the Companies Act, 2013.

(iv) In our opinion, there is an adequate internal control system commensurate with the size of

the Group and the nature of its business, for the purchase of inventory and fixed assets and

for the sale of goods and services and according to the information and explanations given to

us, we have neither come across nor have been informed of any continuing failure to correct

major weaknesses in the aforesaid system of internal control.

(v) The Group has not accepted any deposits from the public.

(vi) The Central Government has not prescribed the maintenance of cost records under sub-

section (1) of section 148 of the Companies Act.

(vii) ( a)The Group and the Associate Company been generally regular in depositing undisputed

statutory dues including provident fund, employees' state insurance, income-tax, sales tax,

wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and other

statutory duties with the appropriate authorities.

(b )There are no amounts which are required to be transferred to the Investor Education and

Protection Fund in accordance with the relevant provisions of the Companies Act, 1956

(1 of 1956) and the rules there under.

(viii) The Group does not have accumulated losses at the end of the financial year exceeding fifty

percent of its net worth. However, the Holding Company has not incurred cash losses either

in the current financial year or in the immediately preceding financial year, while the

subsidiary has incurred cash losses during the current financial year as well as in the

immediately preceding financial year.

(ix) The Group and its Associate Company have not defaulted in the repayment of dues to any

financial institution, bank or debenture holders

Auditor’s Report


(x) The Group has not given any guarantee for loans taken by others from any bank or financial

institution.

(xi) The term loans availed by the Group have been applied for the purposes for which they were

availed.

(xii) During the course of our examination of the books of account carried out in accordance with

generally accepted auditing principles in India, we have not come across any instance of fraud

on or by the company, nor have we been informed by the Management of any such instance

being noticed or reported during the year.

Chennai

Dated: July 4, 2015.

Auditor’s Report




Balance Sheet

EQUITY AND LIABILITIES Note noAs at As at

31.03.2015 31.03.2014




(c) Long Term Provisions

Current Liabilities




Shareholders' Funds

(a) Share Capital


2

3

1,295,955,924

585,736

5,673,719

4

5

6

856,364,438

1,302,215,379

55,575,170

661,287,512

822,649,715

585,736

3,703,336

716,862,682

826,938,787

93,740

1,959,800,493

10,214,557

7

8

9

1,970,108,790

4,518,285

1,070,278,423

4,908,385

1,079,705,093

4,128,688,607 2,623,506,562

10,107,180

16,930,921 722,220

-

2,000,000

16,528,554

817,552,890

11,392,443

Non Current Assets

(a) Fixed Assets

(i) Tangible Assets



(iv) Intangible Assets under development

(b) Non Current Investments

(c) Deferred Tax Assets (net)

(d) Long Term Loans and Advances


ASSETS

Current Assets

(a) Current Investments

(b) Cash and cash equivalents

(d) Short Term Loans and Advances


10

11

995,773,643 701,594,967

6,930,147

26,837,901

-

- 2,000,000

10,048,384

549,037,170

3,838,327

120,539,435

431,132,590

2,682,333,578

19,446,433

102,903,038

182,675,568

1,725,345,065

13,889,057

3,253,452,036 2,024,812,728

4,128,688,607 2,623,506,562

12

15

16

17

18

19

14

13

55,575,170

800,789,268

Minority Interest 2,363 1,905






Tara Thiagarajan

Managing Director

Mohan Eddy

Wholetime Director

Sanin Panicker

Company Secretary



20

IV. Expenses:


Finance Cost

Depreciation

Other Expenses

Total Expenses





II. Other Income

III. Total Revenue

21

22

113,054,579

315,290,874

16,562,252

118,014,907

23

2410 & 11

25

780,017,504

562,922,612

500,655,739

6,653,093

73,121,168

163,823,170

11,443,569

95,666,235

507,308,832

344,054,142

217,094,892

-

217,094,892

163,254,690

-

163,254,690

Current tax

MAT credit entitlement

Deffered tax

770,246,435

9,771,069




X. Tax expense

XI. Profit or loss for the period from



operations





(1) Basic

(2) Diluted

217,094,892

-

163,254,690

-

80,600,000

-6,480,170

3,473,764

62,500,000

-4,368,624

-

139,501,298

105,123,314

-

-

-

139,501,756

-

-

-

105,126,219

18.92

18.92

25.10

25.10

Minority Interest -458 -2,905

Profit and Loss




Tara Thiagarajan

Managing Director

Mohan Eddy

Wholetime Director

Sanin Panicker

Company Secretary



Year ended at Year ended at

31.03.2015 31.03.2014Note no


182,675,568

206,137,981

-23,462,413

-10,554,525

-

-4,292,411,532

4,274,775,135

7,202,828

Cash Flow

Profit before tax

Add: Depreciation

Provision made for Advances and NPAs

Provision made for assets derecognized

11,473,067

1,478,223

163,254,690

11,443,569

10,919,903

217,094,892

16,562,252

246,608,444 185,618,162

Less: Dividend from mutual funds 7,202,828

4,162,438

Operating profit before changes in operating assets

and liabilities 239,405,616 181,455,724

Changes in operating assets and liabilities

(Increase)/Decrease in advance to self help groups

Increase/(Decrease) in borrowings

(Increase)/Decrease in other current assets and loans

and advances

Increase/(Decrease) in current liabilities and provisions

Tax Paid net of provisions

-1,236,977,300

1,366,024,395

-6,878,038

-1,822,339

-90,307,218

-784,841,711

580,315,986

-1,039,919

116,119,567

-50,871,243

Total cash flow from operating activities 269,445,116 41,138,404

Proceeds from issue of shares

Purchase of fixed assets

Intangible assets under development

Investments made

Proceeds from sale of investments

Dividend from mutual funds

Preliminary Expenses

Total cash flow from investing activites -20,988,094

Total Cash generated during the year 248,457,022

Cash and Cash Equivalents at the beginning of the Year

Total Cash generated during the end of the year

182,675,568

431,132,590

CASH FLOW FROM OPERATING ACTIVITIES

1,000

Cash from Investing Activities

-4,212,778

-1,493,169

-2,317,751,544

2,255,051,236

4,162,438

-358,000

-64,600,817

As at As at

31.03.2015 31.03.2014





Tara Thiagarajan

Managing Director

Mohan Eddy

Wholetime Director

Sanin Panicker

Company Secretary

th Chennai / Date: 04 July 2015


NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. a) Basis of Accounting

The financial statements are prepared under the historical Cost convention and comply with the

accounting standards prescribed under the Companies Act, 2013.

The Consolidated Financial Statements relate to Madura Micro Finance Limited and its subsidiary Madura

Micro Education Private Limited. The consolidated Financial Statements have been prepared on the

following basis:

i. The financial statements of the Company and its subsidiary have been prepared on a line by line

consolidation by adding together the book values of like items of assets and liabilities, income and

expenses asper the respective financial statements duly certified by the Statutory Auditors of the

respective companies. Intra group balances and intra group transactions have been eliminated.

ii. The Consolidated Financial Statements have been prepared using uniform accounting policies for the

like transactions and other events in similar circumstances and are presented to the extent possible in

the same manner as the Company's individual financial statements.

iii. The Subsidiary company consolidated in the Company's financial statements are as follows:

b) Principles of consolidation

c) Significant Accounting Policies

Name of the Subsidiary Country of Incorporation Percentage of

voting powerheld

as on 31-3-2015

Percentage of

voting powerheld

as on 31-3-2014

Madura Micro Finance

Private Limited

India 99.90% 99.90%

SR.

NO.

1.

a) Fixed Assets

The Fixed Assets are stated at cost. Grants received for purchase of the fixed assets are credited to the

value of the Fixed Asset after retaining a nominal value in the Fixed Asset. Depreciation on the balance is

provided on straight line method. The Fixed Assets are depreciated on SLM basis at the following rates:

Computer

Office Equipment

Plant and Machinery

Motor Vehicles

Software


Electrical Fittings

33.33%

20.00%

15.00%

20.00%

33.33%

15.00%

20.00%

Fixed assets costing less than Rs.5000/- are fully depreciated in the year of capitalisation.

Since the useful life adopted for arriving at the above rates is shorter than the useful life specified

in schedule II of the Companies Act, 2013, no further changes are required.

Notes


SHARES HELD BY A SHAREHOLDER HOLDING MORE THAN 5%

Name of the shareholder

Ms.Tara Thiagarajan Mr.M.Narayanan Mr.Marti Subramaniam Employees' Welfare Trust Elevar Unitus Corporation

No. of shares

2,670,200

340,000 300,000

504,000

1,207,917

No. of shares

2,670,200

320,000

300,000

504,000

1,207,917

Investments which are long term in nature, are stated at cost with provision wherever necessary for

dimunition, other then temporary in the value of the investments. Current Investments are

valued at lower of cost or market value.

b) Investments

I) Interest receivable on loans to Self Help Groups are accounted for on accrual basis at the agreed rate

of interest.

ii) In respect of accounts identified as Non Performing Assets,i nterest income is accounted as per the of

direction Reserve Bank of India.

iii)I n accordance with Reserve Bank of India Guidelines on Securitisation transactions, gains arising from

assignment/securitisation are amortized over t he life of the undelying portfolio loans. In case

o f loss, the same is recognised i n the Statement of Profit and Loss immediately.

iv) Other income and all expenditure is accounted for on accrual basis.

v ) Provision gratuity and leave encashment has been made on t he basis of actuarial valuation on

Projected Unit Credit (PUC) m ethod.


Provision on Microfinance and other loans treated as nonperforming assets is being made in

accordance with the Prudential Norms issued by Reserve Bank of India. The Company is also

creating a provision of 1% on all the Standard Advances.

In respect of assets derecignised, provision is made at the rate of 1% of the outstanding amounts of assets

derecognised from the books of the Company as at the balance sheet date.

d) Provision for Microfinance and other Loans

e) Defered Tax

Deferred Tax Assets arising from temporary timing differences are recognised to the extent there is a

virtual certainty that the assets can be realised in future.

Authorised

2. Share Capital

1,00,00,000 Equity shares of Rs.10/- each 100,000,000 100,000,000

Issued,Subscribed and Paid up

55,57,517 Equity shares of Rs.10/- each

fully Paid up 55,575,170 55,575,170

Notes


31-3-2015 31-3-2014

RECONCILIATION OF THE NUMBER OF SHARES OUTSTANDING

AT THE BEGINNING AND END OF THE YEAR

Number of shares outstanding at the beginning of the

year

Number of shares outstanding at the end of the year

5,557,517

5,557,517

5,557,517

5,557,517

The Company has issued only one class of Shares, viz., Equity Shares. Each Equity Share has a face value of

Rs.10/- each and is entitled to one vote. On liquidation each share is enttitled to participate in the assets

proportionate to the paid up value of the share.

3. Reserves and Surplus

Share Premium Account As per Last Balance Sheet

Statutory Reserve As per Last Balance Sheet

Add: Transfer from Profit and Loss Account

Surplus, Balance in Profit and Loss Account

As per Last Balance Sheet

Add: Profit after tax for the year

Less: Transfer to Statutory Reserve

Total of Reserves and Surplus

207,918,753

93,015,000 27,900,000

120,915,000

360,353,759

139,501,756 499,855,515

27,900,000 471,955,515

800,789,268

207,918,753

71,125,000 21,890,000

93,015,000

277,117,540 105,126,219

382,243,759

21,890,000

360,353,759

661,287,512

Notes


31-3-2015 31-3-2014


A) SECURED

Term Loans from Banks and Financial Institutions

Axix Bank

City Union Bank


Dhanalakshmi Bank

Industrial Development Bank of India

South Indian Bank

Canara Bank

Small Industrial Development Bank of India

Lakshmi Vilas Bank

ING Vysys Bank

Mas Financial services limited


Dena Bank

Indian Bank

Indusind Bank

ADFT

Maanaveeya Development and Finance (P) Ltd

Andhra Bank

Bank of Baroda

Bank of Maharashtra

IFMR Capital Finance Private Limited



Tata Capital Financial Services Limited

Vijaya Bank

Habitat Micro Build

National Skill Development Corporation

207,142,858

17,204,218

130,625,011

187,539,697

531,944,448

-

140,404,041

122,225,000

120,797,795

86,111,544

384,166,669

71,692,722

110,000,000

83,189,849

22,500,000

37,103,295

66,666,652

50,000,000

100,000,000

74,669,273

89,858,403

150,000,000

179,817,922

37,500,200

82,500,000

15,000,000

20,208,924

133,333,340

28,932,226

63,333,340

114,682,547

558,333,334

33,328,000

80,743,508

34,344,998

37,498,771

163,889,517

100,000,000

200,000,000

100,000,000

50,000,000

50,000,000

-

-

-

-

-

-

-

-

-

-

-

-

Less: Payable within 12 months disclosed under

other Current Liabilities

All the above loans are secured by a charge on the advancesgranted to Self Help Grups from the proceeds of the Loans.

3,118,868,521 1,748,419,581

1,822,912,597 925,769,866

1,295,955,924 822,649,715

Notes


31-3-2015 31-3-2014

The Terms of repayment of the Term Loans are as under

ADFT

Andhra Bank

SIDBI

City Union Bank

Axis Bank

Axis Bank

Axis Bank





Dhanalakshmi Bank

Dhanalakshmi Bank

Dhanalakshmi Bank

Dhanalakshmi Bank

IDBI Bank

IDBI Bank

IDBI Bank

IDBI Bank

IDBI Bank

ING Vysya Bank

ING Vysya Bank

ING Vysya Bank

LVB

LVB

LVB

Dena Bank

Dena Bank

Indian Bank

Indian Bank

Canara Bank

14.00%

13.75%

13.50%

14.50%

13.25%

13.25%

13.25%

12.70%

13.50%

13.00%

12.50%

13.75%

13.75%

13.75%

13.75%

12.25%

13.00%

12.25%

13.75%

13.75%

13.20%

13.20%

13.50%

13.75%

14.25%

13.75%

12.30%

12.05%

14.00%

13.50%

12.95%

36 M

33 M

30 M

36 M

24 M

24 M

24 M

33 M

26 M

26 M

26 M

36 M

36 M

36 M

36 M

60 M

60 M

36 M

27 M

27 M

39 M

39 M

39 M

39 M

39 M

39 M

33 M

36 M

39 M

39 M

33 M

Quarterly

Monthly

Monthly

Monthly

Quarterly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Quarterly

Quarterly

Quarterly

Monthly

Monthly

Monthly

Monthly

Monthly

Quarterly

Quarterly

Quarterly

Quarterly

Quarterly

Quarterly

Quarterly

Quarterly

33,33,333

1,666,666

5,555,000

833,333

14,285,714

4,166,667

2,083,333

1,666,666

1,666,662

3,125,000

2,083,333

2,800,000

1,945,000

1,667,000

2,223,000

16,000,000

9,000,000

25,000,000

8,333,333

1,041,667

2,777,777

2,777,777

925,944

8,333,333

3,333,334

83,333,333

10,000,000

5,000,000

4,166,667

4,166,667

10,000,000

37,103,295

50,000,000

122,225,000

17,204,218

57,142,858

100,000,000

50,000,000

3,333,348

19,999,996

59,375,000

47,916,667

22,539,691

35,000,008

49,999,998

80,000,000

71,111,110

40,000,000

100,000,000

91,666,671

229,166,666

30,555,574

36,111,130

19,444,840

4,159,559

16,638,238

100,000,000

60,000,000

50,000,000

33,189,849

50,000,000

40,404,041

Notes


Rate of

interest

Tenor of

Loan

Mode of

Repayment

Bal. o/s as on

31.03.15

Instalment

Name of the

Bank

Canara Bank

Indusind Bank










Bank of Baroda

Bank of Maharashtra

Habitat Micro Build

IFMR Capital Finance (P) Ltd

Maanaveeya Development

and Finance (P) Ltd



Tata Capital Financial Services

Limited

Vijaya Bank



National Skill Development

Corporation

12.70%

13.75%

14.25%

14.25%

14.25%

14.25%

14.25%

14.25%

14.25%

14.10%

14.10%

13.00%

13.50%

15.50%

14.50%

15.00%

13.50%

13.00%

13.75%

13.50%

14.25%

15.00%

6.00%

36 M

21 M

24 M

24 M

24 M

24 M

24 M

24 M

24 M

24 M

24 M

35 M

36 M

51 M

18 M

39 M

24 M

24 M

24 M

36 M

18 M

18 M

48M

Quarterly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Monthly

Quarterly

Quarterly

Quarterly

Monthly

Monthly

Monthly

Monthly

Quarterly

10,000,000

2,500,000

4,166,667

2,083,333

2,083,333

1,250,000

2,500,000

1,666,666

2,083,333

4,166,666

2,083,333

3,333,333

2,780,000

312,500

5,108,388

6,666,666

12,500,000

9,375,000

2,083,333

2,500,000

12,406,477

12,476,957

20,208,924

100,000,000

22,500,000

50,000,026

27,083,307

33,333,336

20,000,000

37,500,000

26,666,665

39,583,335

100,000,000

50,000,000

100,000,000

74,669,273

15,000,000

89,858,403

66,666,652

75,000,000

75,000,000

37,500,200

82,500,000

179,817,922

71,692,722

-

Flexi Grant

5. Other long Term liabilities

585,736 585,736

585,736 585,736

6. Other long Term Provisions


Provision for gratuity


2,551,306

1,152,030

5,673,719 3,703,336

3,965,999

1,707,720

Notes


The Terms of repayment of the Term Loans are as under

Rate of

interest

Tenor of

Loan

Mode of

Repayment

Bal. o/s as on

31.03.15

Instalment

Name of the

Bank

1,822,912,597

136,887,896

7. Short term borrowing - Cash credit from Banks Secured

City Union Bank OD. - 4,518,285

4,518,285

8. Other Current Liabilities

Current maturities of Long Term Debt

Sundry Creditors

420,619

881,756

1,506,538

1,220,957

4,706,454

1,478,233

- - 992,764

977,612

2,938,009

-

1,959,800,493 1,070,278,423

9. Short term Provisions


Provision for Leave Encashment

Provident Fund and ESI contribution

Provision for Bonus

Provision for staff related expenditure

Provision for Assest Derecognised

10,214,557 4,908,385

10.Non Current Assets (a) Fixed Assets - (i)Tangible Assets

Cost as at 1.4.2014


Sales

Cost block

Computers

Office Equipments

Plant and Machinery

Motor Vehicles


Electrical Fittings

12,089,583

10,588,597

711,511

3,563,524

1,195,367

95,825

4,388,812

450,040

-

973,823

1,041,095

1,194,438

-

-

-

-

-

-

16,478,395

11,038,637

711,511

4,537,347

2,236,462

1,290,263

28,244,407 8,048,208 36,292,615 -

93,740

93,740

925,769,866

144,508,557

Upto 1.4.2014


Withdrawn

Depreciation Block

Computers

Office Equipments

Plant and Machinery

Motor Vehicles


Electrical Fittings

9,350,024

8,193,124

403,272

2,549,566

780,322

37,953

1,943,425

1,758,089

102,152

473,763

573,666

20,080

-

-

-

-

-

-

11,293,449

9,951,213

505,424

3,023,329

1,353,988

58,033

21,314,260 4,871,175 26,185,435 -

Notes


The above limit is secured by a charge on

the loansgranted to Self Help Groups out

of the proceeds of the Loan. The Cash

Credit/OD facility is renewable every year

and carries interest at 14.50% per annum.

ICICI Bank

(Represents cheques issued in excess of

balance available with bank)

31-3-2015 31-3-2014

As at 31.3.2014

Net Block

Computers

Office Equipments

Plant and Machinery

Motor Vehicles


Electrical Fittings

2,739,559

2,395,473

308,239

1,013,958

415,046

57,872

6,930,147 10,107,180

5,184,946

1,087,424

206,087

1,514,018

882,475

1,232,230

As at 31.3.2015

11. (a) Fixed - Assets - Intangibles

Cost as at 1.4.2014


Sales

Cost block

Software

34,694,253 1,784,097 36,478,350 -

Upto 1.4.2014


Withdrawn

Depreciation Block


Educational content on digial media

10,275,294

9,618,959

14,800,000

158,191

1,625,906

10,433,485

9,618,959

16,425,906

Software

34,694,253 11,691,077 19,547,429 -



4,569,257

3,205,999

81,096

3,001,415

3,205,999

7,570,672

6,411,998

5,564,759 5,483,663

As at 31.3.2014

As at 31.3.2015

Net Block

Software

16,930,921 26,837,901



2,862,813

10,861,147

3,206,961

5,706,037

14,718,904

6,412,960

12.Intangible Assets under Development

The Company has taken up new product development activities in two areas, viz., Development of Digital

Business Education Course and Development of Microenterprise Risk assessment tools. The project has been

Completed. One set of the project has been sold to Madura Micro Education Private Limited for which shares

have been allotted by them. The other phase of the project has been capitalised under Intangible Assets, the

details of which are given :

Notes


Opening Balance

Expenses incurred during the year

22,925,790

Salaries

Rent and Electricity charges

1,447,244

45,925

- 24,418,959

14,800,000

9,618,959

Less: Transferred to Madura Micro Educatoin P Limited

Capitalised under Intangible Assets

- -

13.Non current Investments

Trade Investments

a) In Equity Shares of other Companies 200000 Equity Shares

of Rs.10/- each in Alpha Micro Finance Consultants P Ltd

2,000,000 2,000,000

(i) Deferred Tax Asset

On account of provision made allowable on basis of payment

(ii) Deferred Tax Liability

On Account of depreciation

-663,424

15,865,130

344,519

10,392,903

16,528,554 10,048,384

14.Deferred Tax Assets (Net)

15.Long Term Loans and Advances

Microfinance and Other Loans

Unsecured Considered Good

Less: Provision for standard assets

825,811,000

8,258,110

554,583,000

5,545,830

817,552,890 549,037,170

16.Other Non Current Assets

Rent advance

Tax payments pending adjustment (net of provision)

Preliminary Expenses

5,797,172

358,000

11,392,443

5,237,271

-463,344

358,000

3,838,327

3,943,671

Notes


31-3-2015 31-3-2014

2,000,000 2,000,000

57,485 118,430

17.Current Investments

120,539,435 102,903,038

Investment in Units of Mutual Fund - Unquoted

1,18,240.172 Units (Previous Year 1,00,940.175 units)

of UTI Liquid Fund Cash Plan

120,539,435 102,903,038

4,162,438

2,490,655

7,202,828

1,422,589

270,615

875,037

18.Cash and Cash Equivalents

Cash on hand

Bank balances in current account

Bank balances in deposit account

64,094,008

19,419,007

347,562,090

57,485

38,825,651

143,731,487

118,430

Bank Balance in earmarked Deposit account under lien to banks for various credit facilities granted

431,132,590 182,675,568

Bank Deposits includes deposit with a maturity of more

than 12 months on the date of the Balance Sheet

19.Short Term Loans and Advances

Microfinance and other loans repayable within

12 months - Unsecured - Considered good

Less: Provision for standard assets 27,141,377

2,682,333,578

2,709,474,955

17,437,688

1,725,345,065

1,742,782,753

Considered Doubtful

Less: Provision

2,822,062

-2,822,062

3,764,964

-3,764,964

2,682,333,578 1,725,345,065


Advances recoverable in cash or in kind or for

value to be received-Unsecured Considered Good


Others

1,841,817

17,604,616

9,944,047

3,945,010

19,446,433 13,889,057

21.Revenue from operations

Interest on loans

Processing and other charges

Bad debts recovered

Interest from Banks

Course Fees

702,373,773

36,552,381 7,910,910

18,872,871 4,536,500

456,746,746

22,520,353 9,912,037

9,152,103 2,324,500

770,246,435 500,655,739

22.Other Income

Dividend received

Others

Interest on deposit with banks

Profit on sale of investments in mutual fund

9,771,069 6,653,093

Notes


31-3-2015 31-3-2014


Salaries and wages

Honororium paid


Contribution to ESI




Staff welfare Expenses

84,988,502

13,777,174

7,304,189

1,771,314

7,442

1,517,806

1,923,928

1,764,224

55,603,257

9,358,533

4,740,460

1,264,688

5,656

144,098

48,838

1,955,638

113,054,579 73,121,168

24. Finance Cost

Interest on cash credit

Processing Charges

Interest on Term Loans

Other Interest

Bank charges

15,470

5,437,360

293,966,578

80,022

15,791,444

207,486

1,300,000

156,821,501

22,606

5,471,577

25.Other Expenses

Office Rent

Rates and Taxes

Electricity charges

Filing Fees

Insurance

Auditors' Remuneration for Audit

For Certification and other services

Vehicle Maintenance

Office Maintenance

Bad Debts written off

Provision on Standard assets

Professional Fees

Provision for Non Performing Assets

SHG Formation Expenses

Provision on assets derecognised

Directors Sitting Fees

Traveling expenses

Other Expenses

315,290,874 163,823,170

10,740,088

3,285

1,399,454

65,365

76,402

657,000

431,658

365,300

3,553,981

24,561,717

12,415,969

18,027,562

-942,902

1,718,367

1,478,233

130,000

22,798,389

20,535,039

8,172,271

3,190

1,013,112

75,742

251,331

430,000

216,000

662,067

2,846,217

22,792,659

7,882,100

11,540,084

3,037,803

1,389,120

-

105,000

12,322,203

22,927,336

118,014,907 95,666,235

26. The Company is registered with Reserve Bank of India as a Non Banking Finance Company under

the category of NBFC - MFI.

27.Contingent Liabilities

a) Income tax demand disputed in appeal not provided for

Nil

7,101,923

Notes


31-3-2015 31-3-2014

28.The Penalty levied by the Assessing Officer for the Assessment Year 2007-08 amounting to Rs.71,01,923/- has been deleted by the Commissioner of Income tax (Appeals). The Income tax

Department has filed an appeal to the Income tax Appellate Tribunal. Based on professional advice, the Company is of the view that the appeal filed by the Department would be dismissed.

Apart from the above, there are no other pending litigations by/against the Company which might have a material impact of the financial statements.

29.Till last year, the gains arising on bilateral sale of loan was being accounted for in the year of sale

of the loan portfolio. From this year onwards the accounting policy has been changed in line with

the guidelines issued by Reserve Bank of India for Securitisation transactions as mentioned in Note

No.1(c)(iii) above.

Since the Securitisation transaction has been undertaken on Par Structure, there is no impact of the

change of the Profit for the Year as per the Statement of Profit and Loss.

30.Related Party Transactions

Name of the Related Parties

i) Microcredit Foundation of India

ii) Ms.Tara Thiagarajan -Key Managerial Personnel

iii) Mr.Mohan Eddy -Whole Time Director

iv) Scimergent Analytics and

Education Private Limited -Associate Company

Details of Transactions with related parties

Remuneration to Key Managerial Personnel

I) Ms.Tara Thiagarajan

ii) Mr.Mohan Eddy - Whole Time Director

iii) Directors Sitting Fees

iv) Professional fees paid Scimergent

analytics and Education P Ltd

4,784,004

3,999,996

130,000

6,817,500

3,592,002 1,666,665

105,000

-

31.Segment Information

The Group operates in two primary segments, viz., Microfinancing - Lending to self help groups and

Micro Education. These are the reportable segments and the information is furnished below:

MICRO FINANCING MICRO EDUCATION TOTAL

31-3-2015 31-3-2014 31-3-2015 31-3-2014 31-3-2015 31-3-2014

Segment Revenue

External Sales/Income 765,709,935 498,331,239 4,536,500 2,324,500 770,246,435 500,655,739

Notes


MICRO FINANCING MICRO EDUCATION TOTAL

31-3-2015 31-3-2014 31-3-2015 31-3-2014 31-3-2015 31-3-2014

Segment Result 215,290,607 160,936,756 -7,966,784 -4,335,159 207,323,823 156,601,597

Other Income

Profit before tax

Income tax

Profit after tax

9,771,069

217,094,892

77,593,594

139,501,298

6,653,093

163,254,690

58,131,376

105,123,314

Other Information

Segment Assets

Segment Liabilities

Capital Expenditure during the year

Depreciation

Other Non-Cash Expenses

4,096,653,723

3,251,439,119

7,764,598

11,038,084

-

2,606,297,161

1,906,076,689

13,814,737

11,359,228

-

32,032,521

20,885,050

2,067,707

5,524,168

-

17,207,496

567,191

14,817,000

84,341

-

4,128,686,244

3,272,324,169

9,832,305

16,562,252

-

2,623,504,657

1,906,643,880

28,631,737

11,443,569

-

32.Post Employment Benefits

The Company has an unfunded defined benefit gratuity plan Details of Defined Benefit - Gratuity Plan

Fair Value of Plan Assets


Less: Unrecognised past service cost

Plan asset/(liability)

-

4,386,618

-

-4,386,618

-

2,551,306

-

-2,551,306

Change in the present value of Defined Benefit Gratuity Plan

Opening defined benefit obligation

Interest cost




2,551,306

-

1,923,928

-88,616

4,386,618

2,600,084

-

48,838

-97,616

2,551,306

Principal Assumptions used in determining of Defined Benefit Gratuity Plan

Discount Rate



Attrition rate

Details of Other Defined Benefit Plan

Leave Encashment

Fair Value of plan assets


Less: Unrecognised past service cost Plan asset(liability)

-

2,589,476

-

-2,589,476

- 1,152,030

-

-1,152,030

7.80%

Not applicable

5%

15%

8.90%

Not applicable

10%

10%

Notes


31-3-2015 31-3-2014

Change in present value of Other - Defined Benefit Plan

Opening dinied benefit obligation

Interest cost




1,152,030

-

1,517,806

-77,406

2,592,430

1,144,604

-

144,098

-136,672

1,152,030

Principal Assumptions used in determining - Defined Benefit Gratuity Plan

Discount Rate



Attrition rate

Proportion of leave availment

7.8%

Not applicable

10%

15%

10%

8.9%

Not applicable

10%

15%

10%

33 .P rovisions and contingencies

P rovision is recognized in the Balance Sheet when, the Company has a present obligation as a result

a p ast event and it is probable that an outflow of economic benefits will be required to settle the of obligation and a reliable estimate of the amount of the obligation can be made.

i) Provision for Standard Assets



Amounts used(i.e., incurred and charged against the provision)


22,983,518

12,415,969

-

35,399,487

15,101,418

7,882,100

-

22,983,518

i) Provision for Non-Performing Assets



Amounts used(i.e., incurred and charged against the provision)

Unutilised amounts reversed during the period


3,764,964

-942,902

-

-

2,822,062

727,161

3,037,803

-

-

3,764,964

34.Earnings in Foreign Exchange Nil Nil

35.Expenditure in Foreign Currency

Professional Fees (previous year included under

Intangible Assets under Development)

Traveling Expenses

Nil 1,617,620

947,577

571,304

36.As required under section 135 of the Companies Act, 2013, the Company has set up a Corporate

Social Responsibility Committee. The Committee has evolved policies for CSR Spending. The Company

is required to spend Rs.19.50 lakhs on CSR during the year. Pending finalization of the suitable projects

, in line with the policies laid down the Company has not been able to spend any money on CSR activities.

Notes


31-3-2015 31-3-2014

37. Earnings per Share - Basic and Diluted

Profit as per Tax

Number of Equity Shares of face value of Rs.10/- each

Earnings per share - Basic and Diluted

139,501,298

5,557,517

25.10

105,123,314

5,557,517

18.92

38.Details required under Reserve Bank of India,

NBFC Directions

Sl.

No.

Particulars Amount

Overdue

(Rs. in lakhs)

Amount

Outstanding

(Rs. in lakhs)

Amount

Overdue

(Rs. in lakhs)

Liabilities Side

Loans and Advances availed

by NBFCs inclusive of interest

accrued there on but not paid

(a) Debentures - Secured

(b) Debentures - Unsecured

(c) Deferred Credits

(d) Term Loans

(e) Intercorporate Loan

and borrowing

(f) Commercial Paper

(g) Public deposits

(h) Other Loans - Overdraft

Amount

Outstanding

(Rs. in lakhs)

Nil

Nil

Nil

31,188.69

Nil

Nil

Nil

0.94

1.

Nil

Nil

Nil

17,484.20

Nil

Nil

Nil 45.18

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil Nil

2.

(a) In the form of unsecured

debentures

(b) In the form of partly secured

debentures, i.e. debentures

where there is a shortfall in

the value of security

(c) Other public deposits

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Break up of Loans and Advance including bills receivable(other than those included in 4 below) (Net of

NPA Provision)

Assets Side

3.

(a) Secured

(b) Unsecured

Nil

35,352.86

Nil

Ni

Nil

22,973.66

Nil

Nil

Notes

Break up of 1(g) above (Outstanding public deposits inclusive of interest a ccrued there on but not paid)


31-3-2015 31-3-2014

4. Break up of Leased Assets and stock on hire and hypothecation loans counting towards

EL/HP activities

I( )Leased assets including lease

rentals under sundry debtors

a) Financial Lease

b) Operating Lease

(ii) Stock on hire including hire

charges under sundry debtors

a) Asset on hire

b) Repossessed assets

(iii) Hypothecation Loans counting

towards EL/HP activities

a) Loans where assets have

been repossessed

b) Loans other than (a) above

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

5. Break up of Investments - Current Investments

1. Quoted


(b) Preference




v) Others

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Long Term Investments - (Break up of Investments Continued)

Nil

Nil

Nil

1,205.39

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

1,029.03

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

2. Unquoted


(b) Preference




v) Others

1. Quoted


(b) Preference




v) Others

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

2. Unquoted


(b) Preference




v) Others

Notes


20.00

Nil

Nil

Nil

Nil

Nil

20.00

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

31-3-2015 31-3-2014

7. Investor group-wise classification of all investments current and long term in shares and

securities (both quoted and unquoted) 31-3-2015 31-3-2014

6. Borrower group-wise classification of all leased assets, stock-on-hireand loans and advances

Category




TOTAL



Nil

Nil

Nil

Nil

Nil

Nil

-

- -

35,352.86 35,352.86

35,352.86 35,352.86



Nil

Nil

Nil

Nil

Nil

Nil

-

-

-

22,973.66 22,973.66

22,973.66 22,973.66

Market

Value/NAV

or face value

Book Value

Net of

provisions

Market

Value/NAV

or face value

Book Value

Net of

provisions

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil 1,225.39 Nil 1,049.03

1,225.39 Nil 1,049.03

Category




TOTAL

8. Other Information

1. Gross Non-Performing Assets

(a) Related Parties


2. Net Non-Performing Assets

(a) Related Parties


3. Assets acquired in satisfaction

of debts





Nil

Nil

Nil

62.37

Nil

Nil

Nil

71.69

Nil

62.37

Nil

71.69

Nil

Nil

Nil

34.15

Nil

Nil

Nil

34.04

Nil

34.15

Nil

34.04

Nil Nil Nil Nil Nil Nil

9. Customer Complaints

a) Number of Complaints pending as the beginning of the year

b) Number of Complaints received during the year

c) Number of Complaints redressed during the year

d) Number of Complaints pending as at the end of the year

31-3-2015 31-3-2014

Nil

52

52

Nil

Nil

23

23

Nil

10.Details of Registration with Financial Regulators

a) Ministry of Corporate Affairs

b) Reserve Bank of India

c) Microfinance Institutional Network

CIN No.U65929TN2005PLC057390

N.07.00754

20

Notes


11.Ratings assigned by Credit Rating Agencies

12.C oncentration of Advances, Exposures and NPAs

The Company operates primarily in the business of microfinance providing collateral free loans for

fixed amounts ranging from Rs. 14,000/- to Rs. 42,000/- predominantly to rural and semi urban women.stA s on 31 March 2015, th e Company provided loans to more than 2.39 lakhs women and hence the

disclosure relating to concentration of Advances, Exposures and NPAs are not applicable to the Company.

13.S ector wise NPAs as at the end of the year Percentage of NPAs to total

advances in that sector

a) Agriculture and Allied Activities

b) MSME

18.09%

81.91%

9.40%

90.60%

14.Movement of NPAs

a) Net NPAs to total Advances (%)

b) Movement of NPAs (Gross)

i) Opening Balance



iv) Closing balance

c) Movement of Net NPAs

i) Opening Balance



iv) Closing balance

d) Movement of provision for NPAs excluding standard assets

i) Opening Balance

ii) Provision made during the year

iii) Write off/write back of excess provisions

iv) Closing balance

0.10%

7,169,182

5,200,301

6,132,298

6,237,185

3,404,218

2,689,304

2,678,399

3,415,123

3,764,964

2,510,997

3,453,899

2,822,062

0.15%

7,271,584

6,341,785

6,444,187

7,169,182

1,566,028

3,037,804

1,199,614

3,404,218

5,705,556

3,303,981

5,244,573

3,764,964

15.Disclosure relating to Securitisation

During the year, the Company has sold assets through

securitisation. The information on securitisation activity of

the Company as an originator is furnished below: a) Total number of loans securitised or assigned

b) Total book value of loans securitised or assigned

c) Total book value of loans securitised or assigned including

loans placed as collateral

19,935

1,583.99

1,649.71

Nil

Nil

Nil

Commercial Paper

Working Capital Facility (Cash credit/WCDL)

Long Term Bank Facilities

Long Term Non-Convertible debentures

(allotted in May 2015)

MFI Grading

Subordinated Debt

Perpetual Debt

Not applicable

Not applicable

(ICRA) BBB-Positive

(ICRA) BBB-Positive

M 2

Not applicable

Not applicable

Not applicable

Not applicable

(ICRA) BBB-stable

Not applicable

MFR 3

Not applicable

Not applicable

Notes


31-3-2015 31-3-2014

d) Sale consideration received for loans

securitised / assigned

e) Excess interest spread recognised in the

Statement of Profit and Loss

f) Credit enhancements provided

and outstanding (gross)

i) Interest subordination

- for PTC Series A1

- for PTC Series A2

ii) Principal subordination

- for PTC Series A1

- for PTC Series A2

iii) Cash collateral

Number of SPVs sponsored by the Company for

securitisation during the year. Total amount of securitised assets as per the books

of the SPVs sponsored by the Company as on the date

of balance sheet. Total amount of exposure retained by the Company to

comply with minimum retention requirement as at

the date of the balance sheet. a) Off balance sheet exposures i) First Loss

ii) Others b) On balance sheet exposures

i) First Loss ii) Others

Amount of Exposures to other than MRR a) Off Balance sheet exposures

i) Exposure to own securitisations

ii) Exposure to third party securitisations

b) On balance sheet exposures

i) Exposure to own securitisation

ii) Exposure to third party securitisation

The Company has not sold financial assets to securitisation / reconstruction companies for asset reconstruction in the current and previous year.

The Company has not undertaken assignment transaction in the current and previous year.

The Company has not purchased/sold non performing financial assets during the current and previous year.

1,583.99

0.04

9.58%

9.16%

5.98%

3.98%

6.10%

1

1649.71

Nil

Nil

100.63

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

16.Details of penalties imposed by RBI and other Regulators

No penalties have been imposed by RBI and other Regulators during the current and previous year.

Notes


31-3-2015 31-3-2014

17.Information on instances of fraud

Year ended 31-3-2014

N o frauds reported during the year Year ended 31-3-2015


18.Information on net interest margin

Average interest

Average effective cost of borrowing

Net interest margin

25.09%

15.11%

9.98%

25.29%

13.78%

11.51%

19.Information required by Reserve Bank of India - Prudential Norms

1) Capital Adequacy Ratio Items

i) Captial to Risk Assets Ratio

a) CRAR (%)

b) CRAR - Tier I Capital (%)

c) CRAR - Tier II Capital (%)

2) Exposure to Real Estate Sector

Category

A. Direct exposure

(i) Residential Mortgages -

Lending fully secured by mortgages on residential property

that is or will be occupied by the borrower or that is rented;

(Individual housing loans upto Rs.15 lakh may be shown

separately)

(ii) Commercial Real Estate -

Lending secured by mortgages on commercial real estate s

(office buildings, retail space, multipurpose commerci al

premises, multi-family residential buildings, multi-tenante d

commercial premises, industrial or warehouse space, hote ls

land acquisition, development and construction, etc. ).

Exposure would also include non-fund based (NFB) limits;

(iii) Investments in Mortgage Backed Securities (MBS) and other

securitised exposures-

a. Residential

b. Commercial Real Estate.

B. Indirect Exposure

Fund based and non-fund based exposures on National

Housing Bank (NHB) and Housing Finance Companies (HFCs)

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

23.57%

22.63%

0.94

28.29%

27.54%

0.89%

Notes


31-3-2015 31-3-2014

Pa

rtic

ula

rsU

pto

1

mo

nth

Ov

er

1 m

on

th

up

to 2

mo

nth

s

Ov

er

2 m

on

ths

up

to 3

mo

nth

s

Ov

er

3 m

on

ths

up

to 6

mo

nth

s

Ov

er

6 m

on

ths

up

to 1

Ye

ar

Ov

er

1 Y

ea

r

up

to 3

Ye

ars

Ov

er

3 Y

ea

rs

up

to 5

Ye

ars

Ov

er

5 Y

ea

rs

To

tal

LIA

BIL

ITIE

S:

Bo

rro

win

gs

fro

m B

an

ks

an

d F

ina

nci

al in

stit

uti

on

s

AS

SE

TS

:

Mic

ro F

ina

nce

an

d o

the

r

loa

ns

Inve

stm

en

ts

De

po

sits

wit

h B

an

ks

1,3

85

.79

(55

6.5

8)

2,9

85

.94

(1

,79

5.0

6)

1,2

05

.39

(1

,02

9.0

3)

7.7

3

(3

2.5

4)

1,3

65

.44

(6

13

.25

)

2,8

92

.53

(1

,75

4.7

9) -

-

27

8.1

2

-

1,8

10

.72

(1

,28

9.9

5)

2,7

82

.07

(1

,70

2.0

8) -

-

-

(2

5.0

0)

4,8

00

.35

(2

,48

8.1

6)

7,4

81

.60

(4

,76

3.6

3) -

-

15

9.4

1

(3

3.8

0)

8,8

67

.76

(4

,30

9.7

6)

10

,98

1.0

1

(7

,41

9.4

3) -

-

1,1

66

.71

(4

1.5

6)

1

2,6

16

.98

8,2

57

.86

(5

,53

8.6

7) -

-

1,8

13

.41

(1

,30

4.4

2)

14

0.4

9

(8

,27

1.6

8)

0.2

5

-

-

50

.24

-

2

02

.09

-

-

-

2

0.0

0

(20

.00

) -

-

31

,18

9.6

2

(17

,52

9.3

8)

3

5,3

81

.26

(2

2,9

73

.66

)

1

,22

5.3

9

(1,0

49

.03

)

3,4

75

.62

(1

,43

7.3

2)

Fig

ure

s in

bra

cke

ts r

ela

te t

o t

he

pre

vio

us

ye

ar

Sig

na

ture

s to

No

tes

- -

Se

e a

cco

mp

an

yin

g N

ote

s to

Fin

an

cia

l S

tate

me

nt

Vid

e o

ut

rep

ort

of

even

da

te a

tta

ched

3)

Ma

turi

ty p

att

ern

of

ass

ets

an

d l

iab

ilit

ies

(Rs.

in

la

ck

s)

- -

Fo

r S

.N.S

Ass

oci

ate

sC

HA

RTE

RED

AC

CO

UN

TAN

TS(F

IRM

REG

ISTR

ATIO

N N

o:0

06

29

7 S

)S

.NA

GA

RA

JAN

(P

art

ner

)M

EM

BER

SH

IP N

o:2

08

99

Tara

Th

iaga

raja

n

Ma

na

gin

g D

ire

cto

r

Mo

ha

n E

dd

y

Wh

ole

tim

e D

ire

cto

r

Sa

nin

Pa

nic

ker

Co

mp

an

y S

ecr

eta

ryth

Ch

en

na

i /

Da

te:

04

Ju

ly 2

01

5


DATA EXCELLENCE - Madura Microfinance

Documents

Transcript of DATA EXCELLENCE - Madura Microfinance