ifci · 2019-06-04 · ifci limited in ar{ 3 (a8aemnei6d..- undaptiglt no. ifcl/cs/2019- ^w) the...

$: *IFCI · 2019-06-04 · *IFCI LIMITED in aR{ 3 (A8aemnei6d..- Undaptiglt No. IFCl/CS/2019- ^W) The National Stock Exchange of India Limited Exchange Plaza Plot No. C/1, G Block, Bandra$
*IFCILIMITED

in aR{ 3(A8aemnei6d..- Undaptigl

t

No. IFCl/CS/2019- ^W)

The National Stock Exchange of India LimitedExchange PlazaPlot No. C/1, G Block, Bandra Kurla ComplexBandra (East)Mumbai — 400 051

June 04, 2019

n

CODE: IFCIDear Sir,

Re: Financial Results of the Company for the qua rter and year endedMarch 31, 2019 along with the Certificates of Debenture Trustees.

Pursuant to the provisions of Regulation 52 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015, we submit herewith the FinancialResults of the Company for the qua rter and year ended March 31, 2019 enclosedat Annexure I. Also, as per the provisions of Regulation 52(4) of SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015, the requisiteinformation to be submitted along with the financial results is as under:

S.No. Particulars Details

1 Credit Rating and Change in the Enclosed at Annexure - IICredit Rating, if any

2 Debt — Equity Ratio 3.813 Previous due date for the payment of Enclosed at Annexure - III

interest of non-conve rtible debtsecurities / repayment of principal ofnon-convertible debt securities andwhether the same has been paid ornot

4 Next due date for the payment of Enclosed at Annexure - IIIinterest of Non-Conve rtible DebtSecurities / principal along with theamount of interest of non-convertibledebt securities payable and theredemption amount

5 Debenture Redemption Reserve X247.08 crore6 Net Worth T4225.30 crore7 Net (Loss) After Tax 443.83 crore8 Earnings Per Shar (2.62)

aW IMIfft3»tra.'A flp r qiafcu:

34f + Jb1I4 may , 61 F AW. 9t 1 ft - 110

t,WW: +91-11-4173 2000, 4179 2800

45 R: +91-11-2623 0201, 2648 8471

ditu*c: www.ifciltd.com

is L74899DL1993GO1053677

1948 M51A *

IFCI Limited

Regd. Office:IFCI Tower, 61 Nehru Place, New Delhi - 110 019Phone: +91-4173 2000, 4179 2800 ^O

Fax: +91-11-2623 0201, 2648 8471 Iq

Website: www.ifciltd.comCIN: L74899DL1993G01053677

In Development of the Nation since 1948

68.84 FC' 7: It may kindly be noted that as ner the Proviso to Regulation 52(4) of theLIMITED SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,

" "" °^°fl°' the requirement to disclose asset cover, debt service coverage ratioand interest service coverage ratio is not applicable on the Non-BankingFinancial Companies registered with Reserve Bank of India, hence IFCI beingNBFC — ND-SI has not given the above data.

3. Further, pursuant to the provisions of Regulation 52(5) of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, wehave received the Certificates from the Debenture Trustees viz. Axis TrusteeServices Limited and IDBI Trusteeship Services Limited stating that theyhave taken note of the information required under Regulation 52(4) and thesame is enclosed at Annexure IV. Certificate from Centbank FinancialServices Limited is still awaited. The same shall be submitted upon receiptof the same.

Thanking You

Yours faithfullyFor IFCI Limited

(Rupa Sarkar)Company Secretary

Encls: a/a

SIFCILIMITED

WqW' d * 31*6n amen Cl nm th enaAlnai

1 fwa )

No. IFCI/CS/2019- U \k3

BSE LimitedDepartment of Corporate ServicesPhiroze Jeeleebhoy TowerDalai Street, FortMumbai — 400 001

June 04, 2019

CODE: 500106Dear Sir,

Re: Financial Results of the Company for the quarter and year endedMarch 31, 2019 along with the Ce rtificates of Debenture Trustees.

Pursuant to the provisions of Regulation 52 of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015, we submit herewith the FinancialResults of the Company for the quarter and year ended March 31, 2019 enclosedat Annexure I. Also, as per the provisions of Regulation 52(4) of SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015, the requisiteinformation to be submitted along with the financial results is as under:

S.No. Particulars Details

1 Credit Rating and Change in the Enclosed at Annexure - IICredit Rating, if any

2 Debt — Equity Ratio 3.813 Previous due date for the payment of Enclosed at Annexure - III

interest of non-convertible debtsecurities / repayment of principal ofnon-convertible debt securities andwhether the same has been paid ornot

4 Next due date for the payment of Enclosed at Annexure - IIIinterest of Non-Convertible DebtSecurities / principal along with theamount of interest of non-convertibledebt securities payable and theredemption amount

5 Debenture Redemption Reserve X247.08 crore6 Net Worth X4225.30 crore7 Net (Loss) After Tax 443.83 crore8 Earnings Per Shar (2.62)

3tr# v ft 31rf Y s:

3T1 JTf{ tT . 61 + Fk21. 9t l ft— 110 019

3917: +91-11-4173 2000, 4179 280C

QR : +91-11-2623 0201, 2648 8471

.MC: www.ifciltd.com

is L74899DL1993GO1053677

1948 2t 27V 4 f iw *

IFCI LimitedRegd. Office:

IFCI Tower, 61 Nehru Place, New Delhi - 110 019

Phone: +91-4173 2000, 4179 2800

Fax: +91-11-2623 0201, 2648 8471

Website: www.ifciltd.com

CIN: L74899DL1993GO1053677

In Development of the Nation since 1948

http://www.ifciltd.com

4 1 FC1LIMITED

elT$ ¢'41 aNco.eiT.mn o(kt utt V)

(mm xz*rt m amp)

2. It may kindly be noted that as per the Proviso to Regulation 52(4) of theSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,the requirement to disclose asset cover, debt se rvice coverage ratioand interest service coverage ratio is not applicable on the Non-BankingFinancial Companies registered with Reserve Bank of India, hence IFCI beingNBFC — ND-SI has not given the above data.

3. Fu rther, pursuant to the provisions of Regulation 52(5) of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015, wehave received the Certificates from the Debenture Trustees viz. Axis Trustee

hip Services Limited stating that theyequired under Regulation 52(4) and theV. Certificate from Centbank Financial

Services Limited and IDBI Trusteeshave taken note of the information rsame is enclosed at Annexure I

same shall be submi tted upon receiptServices Limited is still awaited. Theof the same.

Thanking You

Yours faithfullyFor IFCI Limited

(Rupa Sarkar)\ _ Company Secreta ry

1^l Encls: a/a

IFn LTD.ON: V48990119930010536]]

RECD. OFFICE: IFE! TOWER61, NEHRU MACE, NEW DELHI -110019

WFnSITE: w .ifdltd.com

I - A DRFU 9N NI A NESU115 i TFE QUA EAR EN D! M(N 31,201

(! In LeNhs)

SbndtlOM Results Consolidated Results

Qua rter ended 31/03/19(Unaudited)

Quarter ended 31/12/18(Unaudited)

Qua rter ended

( Unaudiitt

31!ud

eed)

Yeer ended

31103/ 9(Audited)

Year ended31/03/18 (Audited)



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E These nnanoblresults have been prepared as per Schedule Ill Division In othe Companies Act, 2013 which has been notified by the Ministry of Corporate Alfalrs and pabTShed In the official Gaaette on lath October 2010. Any application guldence/ clanncamn:/dne[lion, nsued by

RBI or other regulators will be Implemented as and when then are tssned/ applicable.

5 The Company has sznrtloned a loan of Os .100 crore(nutstanding RS.9c.ao crure no at March 31, 2019) In a road project for widening of 4 lane highway Into 6 lane, at a part of consortium finance. line project could not be completed within the original stipulated time and within three

further extensions granted by the consortium of lenders. As per Independent Engineer appointed by NHAI, Overall physical progress of the project Is 91% upto March, 2019. NHAI vice letter dated January 11. 2019 has clarified that Appointed Date of the project has already been

given as October 16, 2012 and Commercial Operations Date (COO) then be from the Appointed Date. Acrordingb, tall collection has already started from October 16, 2017 and the amount Is standard as per the record of recovery. 1t has been conllrmesl by the Lead Bank and all other

embers of the Consortium that this account has been classllied a,'Standard Account In their respe[Me books of accounts as at March 31, 2019. Considering the overall status of the protect and record of recovery, the account has been kept as 'Standard Restructured Account' and

classified under Stage'? and Impalement allowance as per ECL has been applied accordingly.

6 The loan account of tat Plakasb Associates has been restriclured as per the scheme approved by the consortium of twit¢.Asper the scheme of restructuring, a portion of overall debt (IFCI Share— RS.23561crora) alorgwlth Identified portfolio of real estate assets, Is to be

transferred to an Special Purpose Vehicle (SVV) which will Issue 9.5% Optonally Convenable Debenture ( CCD,) In Ilea of the debt and the proceeds from the real white portfolio will be utilized towards servicing of These OCD,. However, pending approval of the demerger plan from

National Company law Tribunal fNCLT), the process of transfer of debt and real estate asset, to the SPV Is not eel completed. The Company Iles classified the entire outstanding of 15362.19 crave as Sent t'3 asset aM Impairment albynnra forCCL be, been applied accordingly. As

the debt of the SPV shall be barked by real estate assets haying sufficient security covey provision has been made by the Company as per uniformly epplled eccoentire policy for ECL to the entire portfolio for Stage 3 assets.

7 IFCI Is carrying the Investment In tubsldlary companies at cost net of Impairment loss If any

) and opted for one thee ear mptlon under IndAS lot for deemed cast being the carrying value of Investment as at transition date i.e. April 1, 2017. As on March 31, 2019, the Company had

Investment is 27,41,54,70 no. of shares In Its subsidiary, IFCI Factors Ltd, (Ifq, comprising of 19,91,51,100 no. of equity shares and 7,50,00,000 no. compulsorily convertible preference shares (CCP51. There being indications of impairment In these investments, the company got the

shares of IFl fair vatted by an external expert valuer, registered as Category-I merchant banker, per which, the fair value of Investments In shams of IFL was determined at 15.17181 more uslng the generally accepted valuation methodologies, in line with Indian Accounting

Standards and accordir%ty, the resultant Impairment less has been charged In the books of account.

B RBI vice Rubber dated November 20, 2017 allowed the lender, to Continue to retain loan Capoeure to galnagerl Gas and Power Private limited IRGPPL) as standard Inset into

March 31, 2010; subject to certain conditions. In the aforementioned letter, Opt further clarified that "if the

restructuring Is net completed by March 31, 2018; the account should be downgraded on March 3), 2010 with retrospective effect" As the account was restructured by March 31, 2018; the management it of the New that no further clari@atin Is required from RBI and accordingly,

for the purpose of classifications ureter 101 Guidelines, the account has been heated as 'Standard Restructured Asset and disclosed accordingly. For the purpose of claldf011on under Ind AS, the acaxmt has been sissified under Singe.3 and Impairment allowance for CCL has been

applied accordingly

9 Stockholding Corporation of India LId. (Si had during the year 2000,01 undertaken a transaction of a 24.45 store with If dint through the Calcutta Stock Eechange ICSE) under the 'Cash op Payout' scheme for the sale of 7,20,000 equity shares of 050 Industries limited. The sail

transaction was confirmed by CSE based on which postdated cheques were Issued. The cheques were stopped for payment before their due data by the Company as the undedyleg trade InnsectIon was contended to he non-boeafde acrd disallowed by CSE A Bank, which bad

grunted Bnnndal assistance against the said chetrees, Issued a notice of demand against the Company under Section 138 of the Negotiable Instrument Act, test, The Bank also Bled no application In the Debt Recovery Tr@unal (DRT) for recovery of the amount alongwhh compound

interest from the Company and the client. The Company dbputed the claim of the Bank. The Bank's application to the DRY was dismissed and only the diem war held liable The Dank and the client had filed an appeal in the Debt Recovery Appellate Tribunal IDNAT) against the orderof DRY. The appeals were allowed side the BRAT order dated September 23, 2011. which stated that the amount world carry compound interest from 1st August 2001 A 19% p.a. with quarterly rests III realisation and the bank was entitled to realize the sum from boll, the clientand the Company_ The Company filed a Revision Application In High Court, Calcutta on November 30, 2011 which was admitted but no Interim relief was granted. Hence, the Company filed a Special Leave Petition ISIP) M the Supreme Court for stay of the High Court Order for notgranting Interim relief of staving the DRAT order, the Order of the BRAY and the recovery certificate and notice of demand Issued by Presiding OBker and recovery officer of DRY respectively. The Supreme Court vide its order dated April 23, 2D12 granted stay on the recoveryproceedings and requested the Calcutta 111{h Court to dispose off the Revision Application wiIMn is period of Four months and the Compety to deposal 5 30.00 crone with the Calcutta High Court Registry within a period of 0 weeks from the data of ardor by wa

y of n short term

deposit In a nationalised bank, Accordingly,tilecompany had deposited the money with the Calcutta High Court, Registry, the Reason application was dismissed. The Compan y filed Special Leave Petition ISIP) In the Supreme Court In May 7015, The Supreme Court vide its orderdated May la, 2015 flayed the operation of the execution proceedings and the Company to deposit with the Registrar, Supreme Court of balk, a fined deposit receipt In the name of the Company and endorsed In favour of the Registrar an amount of not less than 30.00 ,rare.Accordingly, the Company made tlm deposit. The amount of a 60.00 Dore, deposited by the Company In the High Court is 30.00 cmrel and Supreme Court I3 10.00 crorel Is shown under the heeding 'Lang Term been and Advanes

a under the cob heading 'Security and other

deposits" In the Statement of oalance Sheet as on March 31, 2019. The bank was granted liberty to withdraw '3000 ome along with Interest that had been lying as deposit before the High Count of tolkal, which Is object to final derision In she SUP. Accordingly, an amount of \

18.04 store was released to the Bank. Further by an order dated October 02, 2015, the Supreme Court directed the bank to withdraw an additional amount of 115.00 chore along with accrued interest from the money deposited with the Supreme Court. Accordingly, an amount of e

15.45 store was released to the Rank. The case has been converted from Special leave petldrn to a Civil Appeal by the Han'ble Supreme Court. The amounts released to the Dank Is subject to the final decision In the matter. In view of the nature of dispute. the amount of contingent

liability has not been ascertained. Pending final adludicatlon of the matter by the Honourable Supreme Coati and also in view of the legal opinion obtained by SNClt.in the opinion of SHCIL management no provision Is required to be made M the statement of Profit and Lost for

financial year 2018'20t9.

10 The preference sharps of Rs. 225 cm re along with the dividend of Rs.0,lO store has been redeemed In O2FY19. As per Section 551lllc) of the Companies Act 2019, where preference dares am proposed to Year redeemed out of the profits of l he company, there shalt, our olsnch

pools, be transferred, o sum equal to the nominal amount of the shares to be redeemed, to a reserve, to be tilled the Capital Redemption Reserve Account, and the provisions of this Act relating to reduction of share capital of a company shall, recent as prarkles In this section, I ]r

apply as If the Capital Redemption Reserve Account were paidbup sham capital of the company. Since there are Insufficient pronto as at lint March 2019, the matter of Rs.215 mores to Capital Redemption Reserve could not he carried nut.

As per secom, 71(4), the company shall carte a debenture redemption reserve aerount out of the profits of the company available for payment of dividend and the amount credited to such account shall not be uteised byline company except for the redemption of debenNres. As

per Rule 10(7llbllll), For NOPCs rrghtered with the RBI under section 45'iA of the NI (Amendment) Act,1997 and for Horsing Finance Companies registered with the National Housing Bank, 'the adequacy of ORR will be 25% of the value of outstanding rlebenlures issued through

public Issue as per present SERI issue and Lhting of Debt Securities) Regulations, MR, and no ORR is required In the use of privately placed debentures. Since them are Insufficient profits during the year ended 31st March 2019. the transfer of R,.76 08 trores to Debenture

eudernpgon Beseme could nor be Carried out

11 them is no separate reportable segment as per Ind AS 101 on 'Operating Segments' in respect of the Company.

_.,. a=c^,r^ .;I^G^

^ I i.yf

lace

_o9

Place: New DelhiDate: 21 May 2019

By order of the Board

(Dr.E 5 Rao)Managing Director &

Chief Executive Officer

t2 • On all the secured bonds and debentures Issued by the Company and outstan ,; as on 31st March 2019, 100% security cover has been maintain. .igainst principal and Interest, by way of floating charge on receivables of the

Company and/or Government Securities owned by the Company.

1 . The above results have been reviewed by the Audit Committee of Directors. The Board of Directors have approved the results in their meeting held on 21 May 2019.

AnnexureA

n

IF In 1 akhe1Standalone Results Consolidated Results

ParticularsQuarter ended

31/03/19(Unaudited)

Quarter ended31112/18

(Unaudited)

Quarter ended31/03118

(Unauditedaudited)

Year ended31/03119 (Audited)

Year ended31/03

Year

(Audi(Audited)

Year ended31103/19(Audited)

Year ended31/03/18(Audited)

1 IncomeRevenue from operations

b._ L Other Income45,395

2,00662.866(3,936)

1,19,15324,499

2,15,72330,897

3,44,758 2,82,146 4,05,75829,241 31,303 30,400

2Total Income

E enses47401 58,930 143,651 2,46,620 373,999 3,13,449 4,36,158

_!L Finance costs 40,598 43,165 48,364 1,75,614 207430 1,80,270 2,14,446,.

bL Employee benefits expense 4,348 2,290 4,635 11,212 10,919 29,341 29,520c pe reclatlon and amortisation expensetl

._. L Other expensesRan

(7,631)819

12,436839

5,5643,281

17,1593,365 6,346 6,2528,823 57,258 40,945

3456

e bn alrment losses on financial assetsTotal MearesProat loss betnre exceptional and to. 1-2Exceptional itemsProfit loss before fax 3-4Taxex rinse

764845,1731,630

1,630

13,57172,284

(13,354)

13354

72225(12,823)

156 474

156 74

1084833,15 749

69129

(69,129)

93,436 114632 1009453,23,973

50,0253 82,84]

(69,398)

3,92,108

44,050

50,025I66

(69,564)168

43,882

Income taxTaeatlan for earlier years

(639)330

-187

1,053-

639 1,049 i96 3,57526 74

7

Deferred Tax NetTnx ex enact (4(a) to 4(c Proft Iota the pe riod from coetlnutnrt operations 5-6

5,7055,396

(3,766)

(8,656)(8,469)4885

52,31953,372

1,03,102

24,107

124,746144383

2,1393,188

21,84(21,965)

(1,312)2,239

46,837 (4j 41,6438 Profit/loss for the periosi from discontinuing operations9 Tax ex ease of discontimdn operations

Share of net profit of antedates and loint ventures10 Profl s for the erlod from discontinuity o erations ifte rtex1f 8.,9

151

1112

Profi lost for the perIod 1e10Other Comprehensive income

3766 (4,88] 1112 (44,3S) 41 599 41,794

.AL Items that will not be reclassified to profit or loss-Fair value changes on FVT'OCI - Equity securities'Gain/(lots on sale of FVrOCI - E u i[V fef u ritles-Actuarial gain/)toss) on Defined benefit obligationIncome tax relating to Items that will not he reclassified to profit or loss

3.73727345,030

3059

165

36,04290

293

1,440(11,771)

5,039

)37,17J 64,76090

29711,T/14,992

(90)351

b

-Tax on Fair value changes on FVTOCI - Equity securities=fax on Actuarial Bain/(loss) on Defined benefit obligation

Items that will be redasslfed to profit or loss

2,818

(1,761)1.019

-12,652

(104)4,193

176114,378

1003,25

1778(9.191)

135)

-fair value changes on FVi0C1- Debt securities- Debt securities mcnsorcd at VVTOCI - rcelnssiicd to pmlit 'tail loss

(1,149) 1,725 3,109 1617 2208 1617 2,208

(35) 4,857 (35) 4 857 51 (4,857)Income tax relatng, to Items that will he redasslfed to profit or lost

'Tax on Fair value changes on FVTOC1 'Debt securities 414 603 594 577 906 57J 906

1314

Other comprehensive Income loss) (net of tax)Total taco rehenslee Income / (loss) (a fter tax 11.12Profit fort he year attributable to

6,3002.534

(1,083)5,968

2444578651

(3,935)48318

(24,437)22400

(2,596)50196

53,95295746

14.5 Owners of the company (48,867) 38,31214.b Non-controlling Interest 1,268 3,48215 Other Com rehsive income attribrnatle to

15a Owners of the coma 3233 16,97415.b16

Non-controllln InterestTotal comprehensive income for the year attributable

636-

36,978

16.a Owners of the company 52100 55,28616.b17

Non-contr oiling interestPaId-up a vit share capital Face Value of 10-each 1,69,599 1,69,599 1,69,599 1,69,599 169,599

1,9041,69599

10,4601,69,599

18 Earnin s per share not annualised for the interimperiods):a Basic i

(bi Diluted [0.220.22

0.290.29

6.086.08

2.622.62

2.762.76

2.802.88

2.262.26

I .t 43 I

It /

_1r' .. C. n-./

Inv l nosFIn Lakhe)

Standleone Consolidated

ParticularsAs at 31/03/19

Au itedAs at 31/03/18

AuditedAs at 31/03/19

Audited

As at 31/03/18

Audited1. ASSETS

.J!L Non-current Assets(a) Property,Plant and Equipment 72,470 73,103 104.035 1,05,030(hi levestmemt propert 19,337 19,828 20,955 21,721c Goodwill 44,664 44.564b Capital work-In- ro rest 31 127 250

(ci Other Intangible assets 165 199 451 642d Equity accounted Investees 4 1,286c Investment in Subsidiary 136781 136,178

Non-current Financial Assets(ii Investments 314703 416435 5,20,149 6,09,719(ii) loans 641343 909,719 656412 932183(liii Trade receivablesiv Other noncurrent financial asse ts 1,949 1,547 68.308 57,803

Deferred tax Assets Net 209391 181759 1,76,782 152469IN(hi Other non-current assets 668 218 3,903 1,166

Non-current tax assets (Net) 12,668 5,418 19,636 10715Sub-total -Non-current Assets 14,09,476 17,44,499 16 15426 1947649

Current Assets(a) Current financial Assets

i Investments 31,391 1,15,886 37,859 1 25295(iii Cash and cash equivalents 39,554 19,271 72,926 54,316(iii) Oank llalnnce other than (ii) above 54.421 67,403 62,829 76.736iv Loans 6,69,606 6,74,766 7,14,923 7,33,088v Trade receivables 280 1,505 37,514 13,751v Derivative instruments 1,466 2,093

(xii Other current financlal assets 15,498 19,333 54,815 41,957c Other current assets 783 601 20.661 27674

Sub-total-Current Assets 811533 899765 982.994 10,74,910

J!L Assets classified as held for sale 4,546 57,199 5,794 57199Total ASSETS 22 25 555 2700 453 2604 214 30,79,758

II. EQUITY AND LIABILITIES1

JL Equity(aIt ,uityshare ca dal 169 599 1.69,599 1.69.599 1,69,599(hi Othere ul 2,52,931 302228 47]14] 5 29245Sub-total -e_u1 422,530 4,71,827 6,46,746 6,98,844Non-current liabIIIUesa Non{urreat Financial Ilablltle5

Iii Borrowings 13,12,285 16,39,644 13,37,075 16,54,262

(ii) Trade psyables - -iii Other financial liablltlec 27,771 e1004 27.848 84,962

fbi Provisions non-current 778 390 12,256 28,331(ci Other non-currentiixblities 43 43 3,386 3,822Sub-total -Non-Current Liabilities 13,40,977 17 21081 13,80,978 17,71,377

2 Current Liabilitiesa Current financial llablltlea

eorrowln s 2,97,095 3,74,152 3,02,350 4,12,221

(ii) Trade psyables 10,727 9,139 37,968 29,705ii Other ilnandal liahllties 1,46,700 100481 2,33,184 1,63,888

b Provisions current 7.530 23645 1,890 1,475

(ci Other current l'mblities 96 128 1,498 2,247Sub-total-Current llabllltlesTotal EQUITY AND LIABILITIES

4,62,14822,25,555

5,07,54527,00,453

57089026,04,214

6,0,53730,79,758

1

tk

Long Term (Bonds/NCDs/Term Loans)

Ratings by 31-Mar-19

ICRA [ICRA] BBB+ w.e.f 30/05/2018

CARE CARE BBB w.e.f 23/02/2019

Brickwork BWR A- w.e.f 27/06/2018

Short Term (Commercial Paper/Short term borrowings)

Ratings by 31-Mar-19

ICRA [ICRA] A2+ w.e.f 30/05/2018

CARE -

BrickworkBWR Al

w.e.f. 27/06/2018

For Structured Secured NCDRatings by 31-Mar-19

Brickwork BWR AA- (SO) w.e.f 27/06/2018

CARE CARE A- (SO) w.e.f 23/02/2019

Subordinate BondsRatings by 31-Mar-19

CARECARE BBB-

w.e.f 23/02/2019

-qw rjlA 1, < --

Schedule of payment of Principal / Interest as on March 31 2019Previous

Previousdue date Nextdue Nextdue

Paid due dateS Interest for date for date for DebentureSeri es ISIN or for

No. payment payment payment payment of Trusteeunpaid payment of

of of interest principalprincipal

interest

1 Tranche I- Series I INE039AO7751 Annual 01-12-18 Paid 01-12-19 Not Due 01-12-19Axis TrusteeServices Ltd

2 Tranche I-Series II INE039AO7769 Cumulative N.A. Not DueOn Maturity

Not Due 01-12-19Axis Trustee

Date Services Ltd

3 Tranche I-Series III INE039AO7777 Monthly 01-03-19 Paid 01-04-19 Not Due 01-12-19Axis TrusteeServices Ltd

4 Tranche I-Series IV INE039AO7785 Annual 01-12-18 Paid 01-12-19 Not Due 01-12-21Axis TrusteeServices Ltd

5 Tranche I-Series V INE039AO7793 Cumulative N.A. Not DueOn Maturity


Date Services Ltd

6 Tranche I-Series VI INE039AO7801 Annual 01-12-18 Paid 01-12-19 Not Due 01-12-24Axis TrusteeServices Ltd

7 Tranche I-Series VII INE039AO7819 Cumulative N.A. Not DueOn Maturity


Date Services Ltd

8 Tranche II- Series I INE039AO7827 Annual 13-02-19 Paid 13-02-20 Not Due 13-02-20Axis TrusteeServices Ltd

9 Tranche II-Series II INE039AO7835 Cumulative N.A. Not DueOn Maturity


Date Services Ltd

10 Tranche II-Series III INE039AO7843 Annual 13-02-19 Paid 13-02-20 Not Due 13-02-25Axis TrusteeServices Ltd

11 Tranche II-Series IV INE039AO7850 Cumulative N.A. Not DueOn Maturity


Date Services Ltd

12 IFCI Tax Free Bond INE039AO9PT1 Annual 31-03-19 Paid 31-03-20 Not due 31-03-24his TrusteeServices Ltd

13 IFCI Tax Free Bond INE039AO9PU9 Annual 31-03-19 Paid 31-03-20 Not due 31-03-29Axis TrusteeServices Ltd

Schedule of payment of Principal / Interest as on Ma rch 31, 2019

Next duePrevious due Next due Previous due

date forInterest date for Paid or date for date for Debenture

S.No Series ISIN paymentpayment payment of unpaid payment of payment of Trusteeof

interest interest principalprincipal

Axis Trustee1 53R INE039AO9112 HY Intt 30-11-18 Paid 30-05-19 Not due 30-05-19

Services LtdAxis Trustee

2 54R INE039AO9120 HY Intt 19-03-19 Paid 19-09-19 Not due 19-09-19Services LtdAxis Trustee








10 48 INE039AO9LG7 Annual 05-03-19 Paid 05-03-20 Not due 05-03-25Services LtdAxis Trustee

11 49 INE039A09LK9 Annual 13-04-18 Paid 13-04-19 Not due 13-04-25Services Ltd

INE039A09LS2- On Maturity Axis Trustee 12 52 Cumulative N.A. Not due Not due 07-07-31

MB6 Date Services LtdAxis rustee

13 53 INE039AO9MC4 Annual 13-07-18 Paid 13-07-19 Not due 13-07-3 Ltd;Servi^ce

is Trustee14 54 INE039AO9MD2 Annual 16-07-18 Paid 16-07-19 Not due 16-07-30

rvices Ltd

1/4



S.No Series ISINpayment payment of unpaid payment of payment of payment Trusteeof

interest interest principalprincipal

Axis Trustee15 55 INE039AO9MN1 Annual 29-10-18 Paid 29-10-19 Not due 29-10-30

Services Ltd

16 SUB II INE039AO9NP4 Annual 25-08-18 Paid 25-08-19 Not due 25-08-21Axis TrusteeServices LtdAxis Trustee

17 56(Opt-I) INE039AO9OZ1 Annual 26-06-18 Paid 26-06-19 Not due 26-06-22Services Ltd

18 56(Opt-II) INE039AO9PA1 Annual 26-06-18 Paid 26-06-19 Not due 26-06-22Axis TrusteeServices Ltd

19 57-B INE039AO9PE3 Annual 28-09-18 Paid 28-09-19 Not due 28-09-22Axis TrusteeServices Ltd

20 57-C-(Opt-I) INE039AO9PFO Annual 08-10-18 Paid 08-10-19 Not due 08-10-22Axis TrusteeServices Ltd

21 57-C(Opt-II) INE039A09PI4 Annual 08-10-18 Paid 08-10-19 Not due 08-10-27Axis TrusteeServices Ltd

22 57-D INE039AO9PJ2 Annual 08-10-18 Paid 08-10-19 Not due 08-10-27Axis TrusteeServices Ltd

23 57-E INE039AO9PKO Annual 15-10-18 Paid 15-10-18 Not due 15-10-27Axis TrusteeServices Ltd

24 58-A INE039AO9PM6 Annual 05-11-18 Paid 05-11-19 Not due 05-11-22Axis TrusteeServices Ltd

25 58-B INE039AO9PN4 Annual 05-11-18 Paid 05-11-19 Not due 05-11-27Axis TrusteeServices Ltd

26 58-C INE039A09P02 Annual 05-11-18 Paid 05-11-19 Not due 05-11-32Axis TrusteeServices Ltd

27 58-D INE039AO9PP9 Annual 05-11-18 Paid 05-11-19 Not due 05-11-37Axis TrusteeServices Ltd

28 59 INE039AO9PQ7 Annual 11-01-19 Paid 11-01-20 Not due 11-01-21his TrusteeServices Ltd

2/4



S. Series ISIN paymentpayment payment of unpaid payment of payment of Trusteeofinterest interest principal

principal

29 60 (OP I) INE039A09PR5 Annual 26-04-18 Paid 26-04-19 Not due 26-04-28Axis TrusteeServices Ltd

30 60 (OP II) INE039A09PS3 Annual 26-04-18 Paid 26-04-19 Not due 26-04-28Axis TrusteeServices LtdAxis Trustee

31 INFRA I INE039AO8114 Annual 15-09-18 Paid 15-09-19 Not due 15-09-20Services Ltd

32 INFRA I INE039AO8122 Cumulative N.A. Not dueOn Maturity

Not due 15-09-20Axis Trustee

Date Services LtdAxis Trustee

33 INFRA I INE039AO8130 Annual 15-09-18 Paid 15-09-19 Not due 15-09-20Services Ltd

34 INFRA I INE039AO8148 Cumulative N.A. Not dueOn Maturity


Date Services Ltd

35 INFRA II INE039A09MT8 Annual 31-01-19 Paid 31-01-20 Not due 31-01-21Axis TrusteeServices Ltd

On Maturity Axis Trustee36 INFRA II INE039AO9MU6 Cumulative N.A. Not due Not due 31-01-21

Date Services Ltd

37 INFRA II INE039AO9MV4 Annual 31-01-19 Paid 31-01-20 Not due 31-01-21Axis TrusteeServices Ltd

38 INFRA II INE039AO9MW2 Cumulative N.A. Not dueOn Maturity


Date Services Ltd

39 SUB I INE039A09NJ7 Annual 01-08-18 Paid 01-08-19 Not due 01-08-21Axis TrusteeServices Ltd

40 SUB I INE039AO9NK5 Cumulative N.A. Not dueOn Maturity


Date Services Ltd

41 SUB I INE039A09NL3 Annual 01-08-18 Paid 01-08-19 Not due 01-08-26Axis TrusteeServices Ltd

42 SUB I INE039AO9NM1 Cumulative N.A. Not dueOn Maturity


Date Services Ltd

3/4



S.No Series ISINpayment payment of unpaid payment of payment of

paymentTrusteeof

interest interest principal principal

43 SUB III INE039AO9NT6 Cumulative N.A. Not dueOn Maturity


Date Services Ltd

44 SUB III INE039AO9NU4 Annual 31-10-18 Paid 31-10-19 Not due 31-10-21Axis TrusteeServices Ltd

45 SUB III INE039A09NV2 Annual 31-10-18 Paid 31-10-19 Not due 31-10-21Axis TrusteeServices Ltd

46 SUB III INE039AO9NW0 Annual 31-10-18 Paid 31-10-19 Not due 31-10-26Axis TrusteeServices Ltd

47 SUB IV INE039AO90L1 Annual 28-02-19 Paid 28-02-20 Not due 28-02-22Axis TrusteeServices Ltd

48 SUB IV INE039A090M9 Annual 28-02-19 Paid 28-02-20 Not due 28-02-27 Axis TrusteeServices Ltd

49 SUB V(A)/V(B) INE039AO9PD5 Annual 18-09-18 Paid 18-09-19 Not due 18-09-37Axis TrusteeServices Ltd

50 Sub V© INE039A09PH6 Annual 05-10-18 Paid 05-10-19 Not due 05-10-37Axis TrusteeServices Ltd

51 Sub V (D) INE039AO9PL8 Annual 15-10-18 Paid 15-10-19 Not due 15-10-32Axis TrusteeServices Ltd

52 61 INE039AO7868 HY Intt 03-11-18 Paid 03-05-19 Not due 03-11-21Axis TrusteeServices Ltd

4/4

/AXIS TRUSTEE

ATSL/ DEL/2018-191341May 30, 2019

IFCI Lim itedIFCI Tower,61 Nehru Place.New Delhi 110019

Sub : Letter of Debenture Trustee pursuant to Reavlotion 52 (5) of the SEBI (Listing Obliaatlons andDisclosure Reaulrements) 2015) for the Ha0- Yearly ended March. 2019

Dear Sir/Madam,

This has reference to the Privately Placed Secured Redeemable Non- Convertible Debenturesissued by IFCI limited ("Company") and listed on the Bombay Stock Exchange (ESE Limited)( ' Listed Debt Securities ' ).

Pursuant to Regulation 52{4) read with Regulation 52 (5) of the SEBI (Listing Obligations andDisclosure Requirements) 2015. the Company is required to submit its half yearly/annual financialresults to the Stock Exchange. with a letter of the Debenture Trustee (Axis Trustee ServicesLi mited) that the Debenture Trustee has noted the contents furnished by the Company as perRegulation 52 ( 4).

In pursuance thereof, we hereby confirm that we have received the said aforesaid informationalong with the relevant/necessary supporting and we have noted the contents in respect of theListed Debt Securities issued by the Company.

Further, please note that we have not independently verified the contents submitted and theaforesaid noting is subject to the following:

I. The Debenture Trustee is relying on the information/ status as submitted by the Companyfor the purpose of submission to the Stock Exchange; without reconfirming; &

2. Any commitment pe rtaining to the Interest/ P rincipal payable on the future due datesare sole commitment on the Company's part and Trustee is not liable in any manner ifCompany tails to fulfil/does not fulfil its commitment.

Thanking You.

Yours FaithfullyFor Axis Trustee Services Limited(Debe ure Trustee)

F^s

4Alok Kumar)Senior Manager

AXIS TRUSTEE SERVICES LTD.(A wholly owned subsidiary of Axis Bank)

Corporate Identity Number (GIN)' U74999MH2008PLC162264

REGISTERED OFFICE: Axis House. Wadia International Centre, Pandurang Budnnar Marg, Worli, Mumoai - 400 025-

CORPORATE OFFICE: Axis Trustee Se rvices Limited The Ruby I 2nd Floor I SW 129 Senapati Bapat Marg I Dadar West I Mumbai-400 028

Tel No ' 022 6230 0451 • Website- wwwaxistrustee.com

IDBI Trusteeship Services LtdUN : U65991MH2001GOI131154

No. 2560ATS L/OPR/20l 9-20May 30, 2019

To,IFCI Limited,IFCI Tower,61 Nehru Place,New Delhi 110019

Dear Sir,

Sub: Letter from Debenture Trustee pursuant to Regulation 52 (5) of the SERI (ListingObligations and Disclosure Requirements) Regulations, 2015 (SE13I LODR 2015)

This has reference to the privately placed Unsecured/Secured, Non-Convertible Debenturesissued by IFCI Limited, ("Issuer") wherein IDBI Trusteeship Services Limited is acting as theDebenture Trustee and listed on the National Stock Exchange of India Ltd. (NSE) and/orBombay Stock Exchange (BSE) ("Listed Debt Securities").

Pursuant to Regulation 52(4) read with Regulation 52 (5) of the SERI (Listing Obligations andDisclosure Requirements) 2015, the Issuer is required to submit the documents required therealong with its half yearly/annual financial results to the Stock Exchange, with a letter of theDebenture Trustee (IDBI Trusteeship Services Limited) that the Debenture Trustee has noted thecontents furnished by the Issuer as per Regulation 52(4).

In pursuance thereof we hereby confirm that we have received the aforesaid information throughyour letter bearing no. IFCI/CS/2019-431 dated May 30, 2019 and we have noted the contentsprovided therein.

Thanking you,

Yours faithfullyFor IOU! Trusteeship Services Limited

(Authorised Signatory)

Regd. Office: Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400 001.Tel.: 022-4080 7000 • Fax : 022-6631 1776 • Email : [email protected] • [email protected]

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