 

Fiscal Nine Months ended December 31,
Particulars 2018 2019 2020 2019 2020
million)

 

 

 

period/ year
Cash and cash equivalents
at the end of the period/ year

 

 

 

 

 

 

 

 

1,688.67 | 2,654.28 8,345.48 1,531.61 8,327.09

 

Operating Activities
Nine Months ended December 31, 2020

In the nine months ended December 31, 2020, net cash flow from operating activities was = (1,525.81) million. Profit before
taxes was 2 700.57 million in the nine months ended December 31, 2020 and adjustments to reconcile profit before taxes to
operating profit before working capital changes primarily consisted of depreciation of fixed assets of = 98.56 million, provision
for non performing assets (net of write off) of = 384.98 million, contingent provision related to COVID-19 of = 747.20 million
and provision for standard assets of 24.10 million. Operating profit before working capital changes was 2,030.20 million in
the nine months ended December 31, 2020. Working capital adjustments in the nine months ended December 31, 2020, included
increase in advances of % 2,893.72 million. This was significantly offset by an increase in deposits of = 4,951.25 million. In the
nine months ended December 31, 2020, cash generated from operations was @ (1,525.81) million and direct taxes paid amounted
to = (105.43) million.

Nine Months ended December 31, 2019

In the nine months ended December 31, 2019, net cash flow from operating activities was = 2,291.87 million. Profit before
taxes was 2 1,783.63 million in the nine months ended December 31, 2019 and adjustments to reconcile profit before taxes to
operating profit before working capital changes primarily consisted of depreciation of fixed assets of = 50.00 million, Provision
for non-performing assets (net of write off) of ¥ 461.85 million and provision for standard assets of = 24.74 million. Operating
profit before working capital changes was % 2,448.88 million in the nine months ended December 31, 2019. The main working
capital adjustments in the nine months ended December 31, 2019, included increase in advances of % (7,327.94) million. This
was significantly offset by an increase in deposits of 2 8,979.32 million. In the nine months ended December 31, 2019, cash
generated from operations was 2 2,291.87 million and direct taxes paid amounted to = 503.86 million.

Fiscal 2020

In Fiscal 2020, net cash flow from operating activities was = 5,258.21 million. Profit before taxes was % 1,543.76 million in
Fiscal 2020 and adjustments to reconcile profit before taxes to operating profit before working capital changes primarily
consisted of depreciation of fixed assets of = 97.84 million, bad debts written-off of %478.87 million, provision for non-
performing assets of = 125.01 million, provision for COVID-19 of = 659.91 million and provision for standard assets of = 42.11
million. Operating profit before working capital changes was 2 3,231.57 million in Fiscal 2020. The main working capital
adjustments in Fiscal 2020, included increase in advances of % 9,336.50 million. This was significantly offset by an increase in
deposits of = 12,552.90 million. In Fiscal 2020, cash generated from operations was = 2,709.71 million and direct taxes paid
amounted to = 683.07 million.

Fiscal 2019

In Fiscal 2019, net cash flow used in operating activities was = 5,451.90 million. Net profit before taxation was % 1,427.24
million in Fiscal 2019 and adjustments to reconcile net profit before taxation operating profit before working capital changes
primarily consisted of bad debts written-off of = 335.62 million, provision for standard assets of 34.05 million and depreciation
on fixed assets of = 55.94 million. Operating profit before working capital changes was 2 2,264.31 million in Fiscal 2019. The
main working capital adjustments in Fiscal 2019, included increase in advances of 2 11,781.71 million and increase in
investments of 23,248.74 million. This was significantly offset by an increase in deposits of = 8439.03 million. In Fiscal 2019,
cash used in operating activities was = 7,059.23 million and direct taxes paid amounted to = 656.98 million.

Fiscal 2018

In Fiscal 2018, net cash flow from operating activities was = 4,575.47 million. Net profit before taxation was 7178.36 million
in Fiscal 2018 and adjustments to reconcile net profit before taxation to operating profit before working capital changes
primarily consisted of interest expenses on borrowings of %70.72 million, bad debts written off of 7427.93 million, depreciation
on fixed assets of = 46.64million and provision for non-performing assets of 772.33 million. Operating profit before working
capital changes was = 894.34 million in Fiscal 2018. The main working capital adjustments in Fiscal 2018, included increase
in advances of & 8,053.08 million, decrease in investments of 2 3,696.26 million. In Fiscal 2018, cash generated from operations
was % 4,575.47 million and direct taxes paid amounted to 2 78.58 million.

Investing Activities
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