dhfl pramerica life insurance company limited cin

DHFL PRAMERICA LIFE INSURANCE COMPANY LIMITED

CIN : U66000HR2007PLC052028 Audited Financial Statements

For the year ended 31st March, 2019

Independent Auditors’ Report

S. N. Dhawan & Co. LLP Chartered Accountants 2nd Floor, Plot No. 421, Sector-18 Phase IV, Udyog Vihar, Gurugram Haryana- 122 016

J.C. Bhalla & Co. Chartered Accountants B-17, Maharani Bagh New Delhi – 110 065

To the Members of DHFL Pramerica Life Insurance Company Ltd. Report on the Audit of Financial Statements

Opinion We have audited the financial statements of DHFL PRAMERICA LIFE INSURANCE COMPANY LTD. ("the Company"), which comprise the Balance Sheet as at March 31, 2019, the Revenue Account, the Profit and Loss Account and the Receipts and Payments Account for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Insurance Act, 1938 as amended by Insurance Laws (Amendment) Act, 2015, the Insurance Regulatory and Development Act, 1999, Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors' Report of Insurance Companies) Regulations, 2002 and the Companies Act, 2013 (to the extent applicable) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, as applicable to Insurance Companies:

i. in the case the Balance Sheet, of the stateof affairs of the Company as at March 31,2019;

ii. in the case of the Revenue Account, forthe year ended on that date, there beingno deficit after recognizing thecontribution from the shareholders to theProfit & Loss Account;

iii. in the case of the Profit and Loss Account,of the profit for the year ended on thatdate; and

iv. in the case of the Receipts and PaymentsAccount, of the receipts and payments forthe year ended on that date.

Basis of Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAl's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter We draw attention to Note (am) of Schedule 16(11) of the financial statements, which describes Company's exposure in Infrastructure Leasing and financial services (IL&FS Group) against which a provision has been created as per management estimate and all interest income accrued on these investments and remaining unserved has been reversed. Our opinion is not modified in respect of this matter.

Responsibility of the Management and Those Charged with Governance for the Financial Statements The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation and presentation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, as applicable to life insurance companies which includes the requirements of the Insurance Act, 1938 as amended by Insurance Laws (Amendment) Act, 2015, the Insurance Regulatory and Development Act, 1999, Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors' Report of Insurance Companies) Regulations, 2002 including the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 to the extent applicable. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company 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. In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the company's financial reporting process. Auditors' Responsibility for the audit of Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: • Identify and assess the risks of material

misstatement of the financial statements, whether due to .fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal

control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of

management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Report on Other Legal and Regulatory Requirements As required by Schedule C of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors' Report of Insurance Companies) Regulations, 2002 and with Section 143(3) of the Companies Act, 2013, 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 purpose of the audit;

b) In our opinion proper books of account as

required by law have been kept by the company so far as appears from our examination of those books;

c) As the Company's accounting system is

centralized at head office, no returns for the purposes of our audit are prepared at the branches of the Company;

d) The Financial Statements dealt with by

this report are in agreement with the books of account;

e) In our opinion, the aforesaid financial

statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 to the extent applicable and with the accounting principles prescribed by the Regulations and orders/directions issued by the IRDAI in this behalf;

f) On the basis of the written

representations received from the directors as on 31 March 2019 and taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2019, from being appointed as a director in terms of Section 164 (2) of the Companies Act, 2013;

g) With respect to the adequacy of the

internal financial controls over financial reporting of the company and the operating effectiveness of such controls, refer to our separate report in "Annexure A"; and

h) The investments have been valued in accordance with the provisions of the Insurance Act, 1938 as amended by Insurance Laws (Amendment) Act, 2015 and the Insurance Regulatory and Development Authority of India (Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulations, 2002 (the Regulations) and Orders / Directions issued by Insurance Regulatory and Development Authority of India in this behalf;

i) The Accounting Policies selected by the

Company are appropriate and are in compliance with Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, to the extent applicable and with Accounting Principles as prescribed in the Insurance Regulatory and Development Authority of India (Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulations, 2002 and Orders/ Directions/Circulars issued by Insurance Regulatory and Development Authority of India in this behalf;

j) We have reviewed the management

report attached to the financial statements for the year ended March 31st, 2019 and there is no apparent mistake or material inconsistencies with the financial statements;

k) Based on the information and

explanations received during the normal course of our audit, Management Representations and Compliance Certificates noted by the Audit and Compliance Committee, nothing has come to our attention which causes us to believe that the Company has not complied with the terms and conditions of registration stipulated by IRDAI;

I) 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) Rule, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The company has disclosed the impact

of the pending litigations on its financial position in its Financial Statements (Refer Schedule 16 II (a) to the Financial Statements).

ii. The Company did not have any long-

term contracts including derivative contracts for which there were any foreseeable losses.

iii. No amount was required to be

transferred to the Investor Education and Protection fund by the Company.

Other Matter The actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at March 31, 2019 is the responsibility of the Company's Appointed Actuary (the "Appointed Actuary") . The actuarial valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at March 31, 2019 has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and norms issued by the Insurance Regulatory Development Authority of India ("IRDAI" / "Authority") and the Institute of Actuaries of India in concurrence with the Authority.

We have relied upon Appointed Actuary's certificate in this regard for forming our opinion on the valuation of liabilities for life policies in force and for policies in respect of

which premium has been discontinued but liability exists in financial statements of the Company.

For S.N. Dhawan & Co. LLP Chartered Accountants Firm’s Registration No.: 000050N/ N500045 Rajeev K. Saxena Partner Membership No.: 077974 Place: Mumbai Date: 26 April 2019

For J.C. Bhalla & Co. Chartered Accountants Firm's Registration No.

001111N

Rajesh Sethi Partner

Membership No: 085669 Place: Mumbai

Date: 26 April 2019

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

Annexure - A to the Auditors' Report Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act") Opinion We have audited the internal financial controls over financial reporting of DHFL Pramerica Life Insurance Company Limited ("the Company") as of March 31, 2019 in conjunction with our audit of the financial statements of the Company for the year ended on that date. In our opinion, the Company, has in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31 March 2019, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the ICAL Basis of Opinion We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") issued by ICAI and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both issued by the Institute of Chartered Accountants of India. Our responsibilities under those Standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibility of the Management and Those Charged with Governance for the Financial Statements The Company's Management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India ("ICAI'). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013. Auditors' Responsibility Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. As part of an audit in accordance with the Guidance Note and the Standards of Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness.

Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting. Meaning of Internal Financial Controls over Financial Reporting A Company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with

authorisations of Management and Directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Inherent Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Other Matter The actuarial valuation of liabilities for life policies in force and policies where premium is discontinued is required to be certified by the Appointed Actuary as per the regulations, and has been relied upon by us, as mentioned under para "other matter" of our audit report on the financial statements for the year ended March 31, 2019. Accordingly, our opinion on the internal financial controls over financial reporting does not include reporting on the operating effectiveness of the management's internal controls over the valuation and accuracy of the aforesaid actuarial valuation.



001111N



Date: 26 April 2019

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

To, The Board of Directors DHFL Pramerica Life Insurance Company Limited 4th Floor, Building No.9, Tower B, Cyber City, DLF City Phase III, Gurugram 122 002, Haryana

Independent Auditors' certificate in accordance with the Clause B11(d) of Schedule II of the Insurance Regulatory and Development Authority of India (Investment) Regulations, 2016 (" the Regulations") 1. We, the statutory auditors of DHFL

Pramerica Life Insurance Company Limited (hereinafter "the Insurer") have examined that the directions issued by IRDAI in point no. 5 of Schedule I(B) of Insurance Regulatory and Development Authority of India (Investment) Regulations, 2016 in respect of applicable NAV for applications received on the last business day (hereinafter "the Regulations") at the request of Insurer for the year ended 31 March 2019.

Management's Responsibility

2. The management of the Insurer is responsible for compliance with the directions issued in point no. 5 of Schedule I(B) of Insurance Regulatory and Development Authority of India (Investment) Regulations, 2016 in respect of applicable NAV for applications received on the last business day.

The management of the Insurer is also responsible for preparation and maintenance of the proper books of account and such other relevant records as prescribed under relevant laws and Regulations. This responsibility includes designing, implementing and monitoring of internal controls relevant to the preparation and maintenance of such books of account and records and the particulars furnished in the aforesaid regulations.

Auditors' Responsibility

3. Pursuant to the Regulations, it is our responsibility to verify whether directions issued under point no. 5 of Schedule 1(8) of Insurance Regulatory and Development Authority of India

(Investment) Regulations, 2016 in respect of applicable NAV for the applications received on the last business day of the Financial Year are complied with.

4. We conducted our examination on a test

check basis in accordance with the Guidance Note on Reports or Certificates for Special Purposes, issued by the Institute of Chartered Accountants of India. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. Our scope of work did not include verification of compliance with other requirements of the Guidelines, other circulars, notifications, etc, as issued by relevant regulatory authorities from time to time, and any other laws and regulations applicable to the Company.

5. We have complied with the relevant

applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.

Opinion 6. Based on our aforesaid verification and to

the best of our knowledge and belief and according to the information, explanations and representations given to us by the management of the Insurer, we hereby confirm that:

(a) The applications received on Sunday, 31 March 2019 up to 3.00 p.m. have been processed with the NAV of 31 March, 2019

(b) The application received on Sunday,

31 March, 2019 after 3.00 p.m. have been processed with the NAV of the next business day i.e. 01 April, 2019

(c) The Company has declared 31 March

2019 as a business day for accepting proposal forms and has declared NAV;

Restrictions on Use

7. This certificate has been issued by us solely to comply with the requirements of

point no. 11d of Schedule I(8) of Insurance Regulatory and Development Authority of India (Investment) Regulations, 2016, which requires the Statutory Auditors to confirm the compliance of aforesaid directions, in the Annual Accounts. It should not be used by any other person or for any other purpose. Accordingly, we do not accept or assume any liability or any duty of care or for any other purpose or to any other party to whom it is shown or into whose hands it may come without our prior consent in writing.



001111N



Date: 26 April 2019

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

Management Report for the year ended March 31, 2019 DHFL PRAMERICA LIFE INSURANCE COMPANY LIMITED IRDAI REGISTRATION NO: 140; DATE OF REGISTRATION WITH IRDAI: JUNE 27, 2008 (All Amounts in Thousands of Indian Rupees, unless otherwise stated) In accordance with the provision of Insurance Regulatory Development Authority of India (IRDAI) (Preparation of Financial Statements and Auditors' Report of Insurance Companies) Regulations, 2002 (Regulation) and circulars/guidelines issued by IRDAI thereafter, the following Management Report for the year ended March 31, 2019 is submitted: 1. The Company is carrying business on the

basis of certificate of registration granted and duly renewed by IRDAI.

2. The Company has paid all dues payable to

the statutory authorities except those under dispute or those disclosed under contingent liabilities.

3. The Indian and Foreign shareholding

pattern of the Company during last financial year are in conformity with the statutory or regulatory requirements.

4. The Company has not directly or

indirectly invested outside India the funds of the holders of policies issued in India.

5. The Company is maintaining the required

solvency margins as undertaken to the Insurance Regulatory and Development Authority.

6. The Company certifies that the values of

all the assets have been reviewed on the date of the Balance Sheet and that the assets set forth in the Balance Sheet are shown in the aggregate at amounts not exceeding their realisable or market value under the several headings – “Loans", "Investments", "Agents' balances", "Outstanding Premiums", "Interest, Dividends and Rents outstanding", "Interest, Dividends and Rents accruing but not due", "Amounts

due from other persons or Bodies carrying on insurance business", " Sundry Debtors", " Bills Receivable", " Cash" and the several items specified under "Other Accounts".

7. No part of the life insurance fund has

been directly or indirectly applied in contravention of the provisions of the Insurance Act, 1938 (4 of 1938) as amended from time to time relating to the application and investment of the life insurance funds.

8. The Company recognises the risks

associated with the life insurance business and manages the risk by adopting prudent policies commensurate with the needs of the life insurance business. The key risks affecting the operations of the Company are underwriting risks and investment risks. The underwriting risk is managed by the robust underwriting function and by further establishing reinsurance treaties with various reinsurance companies. All risks, which are above the pre-determined retention limits are automatically reinsured. The investment risk is managed by creating a portfolio of different asset classes and of varied maturities so as to spread the risk across a wide category of investee companies. The Company has constituted an Investment Committee, which acts as the policy making body for the investment operations. The Investment Committee lays down various internal policies and norms governing the functioning of the Investment Department.

The Investment Committee periodically discusses the investment strategy, portfolio structures, performance of the portfolio and related issues. The investment policy is reviewed regularly in order to align the same with the Company's business plans.

9. The Company does not have operations in any other country other than India.

10. Average claim settlement time from the date of receipt of complete documentation is detailed as under:

Mortality Claims Average Settlement period for last 5 years

Financial Year Average Claim Settlement Time (in days) Individual Life Group Life

Individual Health

Group Health

2013-14 21 10 - - 2014-15 18 10 - - 2015-16 14 16 - - 2016-17 09 09 02 02 2017-18 07 09 02 02 2018-19 07 08 08 08

Details regarding Claims registered and not settled as on 31st March 2019:

Period

Linked Business

Traditional Business Group Total Death Individual

Health Death Group

Health No. Amt. No. Amt. No. Amt. No. Amt. No. Amt. No. Amt.

30 Days - - 1 3 2 100 147 28,062 - - 150 28,165 30 Days to 6 months

- - 1 2,971 2 100 113 38,642 - - 116 41,713

6 months to 1 year

- - - - - - - -

1 year - 5 years - - - - - - - - 5 years & above

- -

Total 2 2,974 4 200 260 66,704 266 69,878

Details regarding Claims registered and not settled as on 31st March 2018:

Period

Linked Business

Traditional Business Group Total Death Individual

Health Death Group

Health No. Amt. No. Amt. No. Amt. No. Amt. No. Amt. No. Amt.

30 Days - - 6 16,506 - - 19 18,863 - - 25 35,369 30 Days to 6 months

- - 1 810 - - 10 16,682 - - 11 47,492

6 months to 1 year

- - - - - - - -

1 year - 5 years - - - - - - - - 5 years & above

- -

Total 7 17,316 29 35,545 36 52,861

11. The value of investments as shown in

Balance Sheet has been arrived as follows:

Valuation - shareholders' investments and non-linked policyholders' investments Debt securities Debt securities including Government securities are considered as 'held to maturity' and accordingly stated at cost, subject to accretion/amortization of discount/premium on a straight line basis over the period of maturity/holding. In case of other instruments like commercial papers, certificate of deposits, CBLO and Treasury bills, the difference between the redemption value and book value is accreted over the life of assets, on straight line basis. Investments in Fixed deposits and Reverse repo are carried at cost. Equity Shares, Exchange Traded funds (ETFs), Additional Tier 1 bonds and Mutual Funds Listed equity securities and Exchange Traded Funds are valued at fair value on the balance sheet date. For the purpose of arriving at the fair value, the Company has adopted National Stock exchange of India Limited (NSE) as its primary Exchange. In case where NSE price is not available on a valuation date, closing price of BSE (Secondary Exchange) is considered. Unlisted Equity Shares are valued at historical cost subject to provision for diminution. Mutual Fund units as at Balance Sheet date are valued at previous day's net asset value per unit. Investments in Units of Venture Funds are valued at latest available NAV.

Additional tier I bonds are classified as equity and is being valued at market yields. Unrealized gains or losses arising due to change in fair value are recognized in the Balance sheet under "Fair Value change account" The company accesses, on each balance sheet date, occurrence of impairment on listed equity shares. Any impairment loss is recognized in the Revenue or Profit & Loss account not exceeding the difference of the fair value of the security and the weighted average cost. Any reversal of earlier recognized impairment loss is recognized in Revenue or Profit & Loss account. Valuation" Linked Investments Government securities are valued at the rate obtained from CRISIL (Credit Rating Information Services of India Limited). Debt securities other than Government Securities are valued on the basis of Bond Valuer (CRISIL). Listed equity securities and Exchange Traded Funds (ETFs) are valued at fair value on the balance sheet date. For the purpose of arriving at the fair value, the Company has adopted National Stock exchange of India Limited (NSE) as its primary Exchange. In case where NSE price is not available on a valuation date closing price of BSE (Secondary Exchange) is considered. Mutual Fund units as at Balance Sheet date are valued at previous day's net asset value per unit. In case of other instruments like commercial papers, certificate of deposits, CBLO and Treasury bills, the difference between the redemption value and book value is accreted over the life of the assets, on a straight line basis

and accordingly these instruments are valued at accreted cost. Investment in Fixed deposits and reverse repo are valued at cost.

12. The Company has invested its controlled funds only in rated securities, primarily in Central Government, Treasury Bills and securities and highly rated bonds/mutual funds. All Investments in

Debt securities are made with the clear intent of being held to maturity. Accordingly, the Management is confident of the quality of the investments.

13. Schedule of payments, which have been

made to the individuals, firms, companies and organisations in which Directors are interested.

S. No

Name of Director Entity in which Director is interested

Interest as Relative Director

Amount of Payment during the Financial Year

1. Mr. Kapil Wadhawan Mr. Srinath Sridharan Mr. Sunjoy Joshi

Dewan Housing Finance Corporation Limited

Director 283,630

2. Mr. Kapil Wadhawan Mr. Suresh Mahalingam

Aadhar Housing Finance Limited (formerly known as DHFL Vysya Housing Finance Limited)

Director 64,658

3. Mr. Kapil Wadhawan Mr. Suresh Mahalingam

Avanse Financial Services Limited

Director 18,012

14.The financial statements of DHFL

Pramerica Life Insurance Company Limited and all information in this annual report are the responsibility of the Management and have been reviewed by the Audit Committee and approved by the Board of Directors.

a) The financial statements have been

prepared in accordance with generally accepted accounting standards, principles and policies have been followed with no material departures.

b) The financial statements have been

prepared in accordance with the accounting policies adopted by the Management and stated therein and the same have been followed consistently. These financial statements contain some items which reflect the best estimates and judgments of the Management.

Where alternative accounting methods exist, Management has chosen those it deems most appropriate in the circumstances to ensure the financial statements are presented fairly, in all material respects. The choice of estimates and judgments made are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at the end of the financial year and the operating profit of the Company for the year.

c) The Management of the Company has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the applicable provisions of the Insurance Act 1938 as amended from time to time and Companies Act 2013, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

d) The financial statements have been prepared on a going concern basis.

e) The Company has set up an internal audit system commensurate with the size and nature of the business and the same is operating effectively.

For and on behalf of the Board of Directors

Kapil Wadhawan Chairman

James Wayne Weakley Director

Suresh Mahalingam Director

Anoop Pabby MD & CEO

Varun Gupta Appointed Actuary

Alok Mehrotra Chief Financial Officer

Mayank Goel Company Secretary

Date: April 26, 2019

Place Mumbai

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

DHFL PRAMERICA LIFE INSURANCE CO. LTD.IRDAI REGISTRATION NO: 140; DATE OF REGISTRATION WITH IRDAI : JUNE 27, 2008

REVENUE ACCOUNT FOR THE YEAR APRIL 1, 2018 to MARCH 31,2019

Policyholders’ Account (Technical Account)(All Amounts in Thousands of Indian Rupees)

Individual Life Group Life Group

Health

Individual

Health

Group

Variable Individual Life Individual Life

Individual

Pension

Premiums earned - net

(a) Premiums 1 7,093,215 8,809,366 53,630 10,667 187,866 1,308,109 695,998 9,752 18,168,603

(b) Reinsurance Ceded (34,043) (1,210,943) (3,851) (2,384) - (1,713) (1,974) - (1,254,908)

(c) Reinsurance Accepted - - - - - - -

7,059,172 7,598,423 49,779 8,283 187,866 1,306,396 694,024 9,752 16,913,695

Income from Investments

(a) Interest, Dividends & Rent - Gross 860,390 1,147,169 2,020 3,088 3,937 193,033 128,988 4,421 2,343,046

(b) Profit on sale/ redemption of investments 93,476 80,285 89 9 67 7,928 66,216 10,294 258,364

(c) (Loss) on sale/ redemption of investments (2,577) (4,800) (7) (5) - - (20,389) (3,322) (31,100)

(d) Transfer/ Gain on revaluation/change in fair value * - - - - - - 195,213 4,688 199,901

(e) Amortisation of discount/(premium) (8,357) (38,933) (238) (156) 48 (2,990) (53) (15) (50,694)

Other Income

(a) Fees & Charges 7,329 - - 3 - 3,463 - - 10,795

Contribution from the Shareholders' Account - - - - 1,872 - 123,833 - 125,705

Total ( A ) 8,009,433 8,782,144 51,643 11,222 193,790 1,507,830 1,187,832 25,818 19,769,712

Commission 2 448,196 280,309 1,213 689 - 72,195 10,913 - 813,515

Operating Expenses related to Insurance Business 3 2,607,651 2,109,009 28,115 25,239 16,101 347,457 196,835 23,126 5,353,533

Expenses in excess of Allowable Expense transferred to

Shareholders Account

(428,924) (900,849) (19,958) (21,973) (15,137) (43,325) - (22,311) (1,452,477)

Goods & Service Tax on Premium - - - - - - 19,077 424 19,501

Provision for doubtful debts - - - - - - - - -

Bad debts written off - - - - - - - - -

Provision (other than taxation)

(a) For diminution in the value of investments( Net) 27,750 12,403 - - - - - - 40,153

(b) Others - - - - - - - - -

Total ( B ) 2,654,673 1,500,872 9,370 3,955 964 376,327 226,825 1,239 4,774,225

Benefits Paid (Net) 4 382,310 2,359,238 268 4,207 - 142,607 297,481 33,043 3,219,154

Interim Bonuses Paid - - - - - 250 - - 250

Change in valuation of liability in respect of life policies:

(a) Gross ** 4,594,481 2,337,428 4,709 2,374 192,826 935,539 663,526 (9,019) 8,721,864

(b) (Amount ceded in Reinsurance ) (1,393) (111,611) 2,437 - - - - - (110,567)

(c) Amount accepted in Reinsurance - - - - - - - - -

Total ( C ) 4,975,398 4,585,055 7,414 6,581 192,826 1,078,396 961,007 24,024 11,830,701

SURPLUS/ (DEFICIT) ( D ) = ( A ) - ( B ) - ( C ) 379,362 2,696,217 34,859 686 - 53,107 - 555 3,164,786

Deficit at the beginning of the year - - - - - - - - -

SURPLUS / (DEFICIT) AVAILABLE FOR

APPROPRIATION

379,362 2,696,217 34,859 686 - 53,107 - 555 3,164,786

APPROPRIATIONS Transfer to Shareholders’ Account 379,362 2,696,217 34,859 686 - 11,378 - 555 3,123,057

Transfer to Other Reserves - - - - - - -

Balance being Funds for Future Appropriations - - - - - 41,729 - - 41,729

Total (D) 379,362 2,696,217 34,859 686 - 53,107 - 555 3,164,786

The Total Surplus as mentioned below :

(a) Interim Bonus Paid - - - - - 250 - - 250

(b) Allocation of Bonus to Policyholders - - - - - 102,152 - - 102,152

('c) Surplus shown in Revenue Account 379,362 2,696,217 34,859 686 - 53,107 - 555 3,164,786

Total Surplus (a+b+c) 379,362 2,696,217 34,859 686 - 155,509 - 555 3,267,188

* Represents the deemed realised gain as per norms specified by the Authority

** Represents Mathematical Reserve after considering allocation of Bonus

As referred to in our report of even date

For S. N. Dhawan & Co. LLP For J C Bhalla & Co. For and on behalf of the Board of Directors

Chartered Accountants Chartered Accountants

Firm Regn No.000050N/N500045 Firm Regn No. 001111N

Rajeev K. Saxena Rajesh Sethi Kapil Wadhawan James Wayne Weakley Suresh Mahalingam

Partner Partner Chairman Director Director

Membership No.:077974 Membership No.:085669

Anoop Pabby Alok Mehrotra

MD & CEO Chief Financial Officer

Place: Mumbai Place: Mumbai

Date: April 26, 2019 Date: April 26, 2019 Mayank Goel Varun Gupta

Company Secretary Appointed Actuary

Schedules 1 to 16 referred to above and accompanying annexures form an intergal part of the Financial

FORM A-RA

Total

Non Participating Participating

(Linked)

For the Year April 1, 2018 to March 31, 2019

Particulars Schedule

Non Participating

(Non-Linked)

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

DHFL PRAMERICA LIFE INSURANCE CO. LTD.IRDAI REGISTRATION NO: 140; DATE OF REGISTRATION WITH IRDAI : JUNE 27, 2008

REVENUE ACCOUNT FOR THE YEAR APRIL 1, 2017 TO MARCH 31,2018

Policyholders’ Account (Technical Account)(All Amounts in Thousands of Indian Rupees)

Individual

Life Group Life

Group

Health

Individual

Health

Group


Individual

Pension


(a) Premiums 1 5,482,828 10,857,677 19,496 28,634 - 1,150,952 892,690 12,314 18,444,591

(b) Reinsurance Ceded (25,442) (953,178) (4,291) (843) - (1,361) (1,756) - (986,871)

(c) Reinsurance Accepted - - - - - - -

5,457,386 9,904,499 15,205 27,791 - 1,149,591 890,934 12,314 17,457,720


(a) Interest, Dividends & Rent - Gross 603,769 835,169 1,044 1,251 - 126,994 106,548 4,893 1,679,668

(b) Profit on sale/ redemption of investments 20,317 73,158 26 31 - 3,750 126,287 18,620 242,189

(c) (Loss) on sale/ redemption of investments (41) (415) - - - - (7,334) (1,167) (8,957)

(d) Transfer/ Gain on revaluation/change in fair value * - - - - - - (33,197) (7,281) (40,478)

(e) Amortisation of discount/(premium) (10,804) (40,994) (147) (94) - (3,690) (72) (8) (55,809)

Other Income

(a) Fees & Charges 2,835 - - 3 - 246 24 - 3,108

Contribution from the Shareholders' Account 21,996 - - 2,026 - 17,683 174,674 - 216,379

Total ( A ) 6,095,458 10,771,417 16,128 31,008 - 1,294,574 1,257,864 27,371 19,493,820

Commission 2 401,458 214,926 277 1,238 - 74,094 14,604 - 706,597

Operating Expenses related to Insurance Business 3 2,830,398 2,526,157 31,073 33,595 - 524,241 260,653 29,833 6,235,950

Expenses in excess of Allowable Expense transferred to

Shareholders Account

(336,373) (1,268,270) (28,132) (28,376) - (41,641) (12,353) (29,291) (1,744,436)

Goods & Service Tax on Premium - - - - - - 17,004 403 17,407

Provision for doubtful debts - - - - - - - - -

Bad debts written off - - - - - - - - -

Provision (other than taxation)

(a) For diminution in the value of investments( Net) - - - - - - - - -

(b) Others - - - - - - - - -

Total ( B ) 2,895,483 1,472,813 3,218 6,457 - 556,694 279,909 945 5,215,519

Benefits Paid (Net) 4 322,679 1,604,662 123 1,804 - 109,030 475,932 39,443 2,553,673

Interim Bonuses Paid - - - - - 225 - - 225

Change in valuation of liability in respect of life policies:

(a) Gross ** 2,880,440 4,739,541 9,339 22,747 - 628,625 502,023 (15,865) 8,766,850

(b) (Amount ceded in Reinsurance ) (3,144) (488,208) (2,225) - - - - - (493,577)

(c) Amount accepted in Reinsurance - - - - - - - - -

Total ( C ) 3,199,975 5,855,995 7,236 24,551 - 737,879 977,956 23,578 10,827,170

SURPLUS/ (DEFICIT) ( D ) = ( A ) - ( B ) - ( C ) - 3,442,609 5,673 - - - - 2,848 3,451,130

Deficit at the beginning of the year - - - - - - - - -


APPROPRIATION

- 3,442,609 5,673 - - - - 2,848 3,451,130

APPROPRIATIONS Transfer to Shareholders’ Account - 3,442,609 5,673 - - - - 2,848 3,451,130

Transfer to Other Reserves - - - - - - - - -

Balance being Funds for Future Appropriations - - - - - - - - -

Total (D) - 3,442,609 5,673 - - - - 2,848 3,451,130

The Total Surplus as mentioned below :

(a) Interim Bonus Paid - - - - 225 - - 225

(b) Allocation of Bonus to Policyholders - - - - 80,566 - - 80,566

('c) Surplus shown in Revenue Account - 3,442,609 5,673 - - - - 2,848 3,451,130

Total Surplus (a+b+c) - 3,442,609 5,673 - - 80,791 - 2,848 3,531,921

* Represents the deemed realised gain as per norms specified by the Authority

** Represents Mathematical Reserve after considering allocation of Bonus

Schedules 1 to 16 referred to above and accompanying annexures form an intergal part of the Financial Statements.

As referred to in our report of even date.



Firm Regn No.000050N/N500045 Firm Regn No. 001111N

Rajeev K. Saxena Rajesh Sethi Kapil Wadhawan James Wayne Weakley Suresh Mahalingam

Partner Partner Chairman Director Director




Place: Mumbai Place: Mumbai

Date: April 26, 2019 Date: April 26, 2019 Mayank Goel Varun Gupta


The Schedules referred to herein forms an integral part of the Financial Statements

FORM A-RA



Participating Non Participating

Total (Linked)

Non Participating

(Non-Linked)

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

DHFL PRAMERICA LIFE INSURANCE CO. LTD.

IRDAI REGISTRATION NO: 140; DATE OF REGISTRATION WITH IRDAI : JUNE 27, 2008

PROFIT AND LOSS ACCOUNT FOR THE YEAR APRIL 1, 2018 To MARCH 31, 2019

Shareholders’ Account (Non-technical Account)(All Amounts in Thousands of Indian Rupees) Schedule

Particulars

Transfer from the Policyholders' Account (Technical Account)

- Non Participating Individual Life Policies 379,362 -

- Non-Participating Group Life Policies 2,696,217 3,442,609

- Non-Participating Group Health Policies 34,859 5,673

- Non-Participating Individual Health Policies 686 -

- Non-Participating Group Variable Policies - -

- Participating Individual Life 11,378 -

- Non-Participating Individual Linked Policies - -

- Non-participating Pension Linked Policies 555 2,848

Income From Investments

(a) Interest, Dividends & Rent - Gross 568,284 598,760

(b) Profit on sale/redemption of investments 68,275 120,718

(c) (Loss on sale/ redemption of investments) (9,307) (3,362)

(d) Amortisation of discount/(premium) (33,097) (35,655)

Other income

- Fees and Charges - -

Total ( A ) 3,717,212 4,131,591

Expenses other than those directly related to the insurance business

Operating Expenses 3A 1,074,406 955,422

Expenses in excess of Allowable Expense transferred from Policyholders Account 1,452,477 1,744,436

Miscellaneous Expenditure (written off) - -

Bad debts written off - -

Provisions (other than taxation)

(a) For diminution in the value of investments( Net) 85,512 -

(b) Provision for doubtful debts - -

(c) Others - -

Contribution to the Policyholders Account (Technical Account)

- Non-Participating Individual Life Policies - 21,996

- Non Partcipating Group Life Policies - -

- Non Partcipating Group Health Policies - -

- Non Partcipating Individual Health Policies - 2,026

- Non-Participating Group Variable Policies 1,872 -

-Participating Individual Life - 17,683

- Non-participating Individual Linked Policies 123,833 174,674

- Non-participating Pension Linked Policies - -

Total ( B ) 2,738,100 2,916,237

Profit/(Loss) before tax ( C )= ( A ) - ( B ) 979,112 1,215,354

Provision for Taxation - -

(a) Current Tax Credit/(Charge) - -

(b) Deferred Tax Credit / (Charge) (127,285) (156,476)

Profit/ (loss) after tax 851,827 1,058,878

Appropriations

(a) Balance at the beginning of the year (2,480,527) (3,539,405)

(b) Interim dividends paid during the year - -

(c) Proposed final dividend - -

(d) Dividend distribution on tax - -

(e) Transfer to/from reserves/ other accounts - -

Profit/(Loss) carried forward to the Balance Sheet (1,628,700) (2,480,527)

Earning Per Share (Basic and Diluted) (in Rs.) [Face Value Rs10 per share] 2.28 2.83

The entire insurance business is conducted in relation to India and there are no assets and liabilities outside India.



For S. N. Dhawan & Co. LLP For J C Bhalla & Co. For and on behalf of the Board of Directors Chartered Accountants Chartered Accountants Firm Regn No.000050N/N500045 Firm Regn No. 001111N

Kapil Wadhawan James Wayne Weakley Suresh Mahalingam

Rajeev K. Saxena Rajesh Sethi Chairman Director Director

Partner Partner




Place: Mumbai Place: Mumbai Mayank Goel Varun Gupta

Date: April 26, 2019 Date: April 26, 2019 Company Secretary Appointed Actuary

For the Year April 1,

2018 to March 31,

2019

For the Year April

1, 2017 to March

31, 2018

FORM A-PL

P018131

Text Box

Membership No.:085669

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-



BALANCE SHEET AS AT MARCH 31, 2019

(All Amounts in Thousands of Indian Rupees)Particulars Schedule

SOURCES OF FUNDS

SHAREHOLDERS’ FUNDS: Share Capital 5 3,740,619 3,740,619

Sub-Total 3,740,619 3,740,619

RESERVES AND SURPLUS 6 8,329,217 8,329,217

CREDIT/(DEBIT) FAIR VALUE CHANGE ACCOUNT (650,734) (393,954)

Sub-Total 11,419,102 11,675,882

BORROWINGS 7 - -

POLICYHOLDERS’ FUNDS:

CREDIT/ (DEBIT) FAIR VALUE CHANGE ACCOUNT 4,420 16,157

POLICY LIABILITIES

- Non Participating Group Life Policies 15,252,197 13,026,380

- Non Participating Individual Life Policies 13,654,336 9,061,248

- Non Participating Group Health Policies 15,895 8,749

- Non Participating Individual Health Policies 27,018 24,644

- Non Participating Group Variable 192,827 -

- Participating Individual Life Policies 2,851,360 1,915,821

- Non-Participating Individual Life Linked Policies 20,073 19,413

- Non-Participating Individual Pension Linked Policies 1,376 32,015,082 2,732 24,058,987

INSURANCE RESERVES - -

PROVISION FOR LINKED LIABILITIES

Non-Participating Individual Life

- Linked Liabilities 2,760,799 2,386,199

- Fair Value Change Account (Linked) 421,960 226,761

- Funds for Discontinued Policies:

- Discontinued on account of Non Payment of Premium 316,183 223,117

Non-Participating Individual Pension

- Linked Liabilities 111,935 124,286

- Fair Value Change Account (Linked) 26,459 3,637,336 21,771 2,982,134

Sub-Total 35,656,838 27,057,278

FUNDS FOR FUTURE APPROPRIATIONS 41,729 -

TOTAL 47,117,669 38,733,160

APPLICATION OF FUNDS

INVESTMENTS

Shareholders’ Investments 8 7,921,706 8,932,049

Policyholders’ Investments 8A 31,475,934 23,784,739

ASSETS HELD TO COVER LINKED LIABILITIES 8B 3,637,336 2,982,134

LOANS 9 193,360 54,166

FIXED ASSETS 10 516,451 543,442

DEFERRED TAX ASSET 240,636 367,921

CURRENT ASSETS

Cash and Bank Balances 11 649,956 860,493

Advances and Other Assets 12 3,482,904 2,638,538

Sub-Total (A) 4,132,860 3,499,031

CURRENT LIABILITIES 13 2,473,414 3,775,735

PROVISIONS 14 155,900 135,114

Sub-Total (B) 2,629,314 3,910,849

NET CURRENT ASSETS (C) = (A) – (B) 1,503,546 (411,818)

MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) 15 - -

DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT (SHAREHOLDERS’ ACCOUNT) 1,628,700 2,480,527

DEFICITS IN THE REVENUE ACCOUNT (POLICYHOLDER'S ACCOUNT) - -

Total 47,117,669 38,733,160

The entire insurance business is conducted in relation to India and there are no assets and liabilities outside India.




Chartered Accountants Chartered Accountants Firm Regn No.000050N/N500045 Firm Regn No. 001111N



Partner Partner Membership No.:077974 Membership No.:085669



Place: Mumbai Place: Mumbai Mayank Goel Varun Gupta

Date: April 26, 2019 Date: April 26, 2019 Company Secretary Appointed Actuary

FORM A-BS

As at March 31, 2019 As at March 31, 2018

P018131

Text Box

Membership No.:085669

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-



RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2019

(All Amounts in Thousands of Indian Rupees)

Particulars YEAR ENDED MARCH

31, 2019

YEAR ENDED MARCH 31,

2018

Cash flows from operating activities

Premium received from policyholders, including advance receipts 17,265,491 18,910,645

Commission paid (894,326) (586,712)

Policy Benefits Paid to policyholders (4,614,369) (3,409,092)

Claims Recovered from Reinsurers 1,407,183 591,247

Reinsurance Premium Paid (1,272,795) (1,053,354)

Payments/advances to suppliers/employees (6,970,976) (6,328,074)

Deposit recovered / given from / to RBI - -

Cash flows from operating activities 4,920,208 8,124,660

Advance tax paid (984) (19)

Net Cash flows from operating activities 4,919,224 8,124,641

Cash flows from investing activities

Purchase of Fixed assets (162,198) (242,630)

Proceed from sale of fixed assets 982 915

Loans granted against Policies (139,194) (36,346)

Purchase of Investments (225,530,982) (111,169,168)

Proceeds from sale/maturity of investments 218,034,883 101,419,295

Rent/Interest/Dividends received 2,666,748 2,143,972

Net cash flows from investing activities (5,129,761) (7,883,962)

Cash flows from financing activities

Proceeds from issuance of share capital - -

Net cash flows from financing activities - -

Net increase/ (decrease) in cash and cash equivalents (210,537) 240,679

Cash and cash equivalents at the beginning of year 860,393 619,714

Cash and cash equivalents at the end of year 649,856 860,393

Note - Components of Cash and cash equivalents at end of the yearCash and cheques in hand 179,944 310,002

Bank Balances 469,912 550,391

Total Cash and cash equivalents 649,856 860,393

Reconciliation of Cash & Cash Equivalents with Cash & Bank Balance (Schedule 11):

Cash & Cash Equivalents 649,856 860,393

Add: Deposit Account - Others 100 100

Cash & Bank Balances as per Schedule 11 649,956 860,493

Notes :

2. Figures in paranthesis represent cash outflows.

3. Cash and cash equivalents consist of cash, cheques in hand, stamps in hand and balance with banks.

4. Cash and bank balance includes Fixed Deposit under Lien Rs. 100 (Previous year Rs. 100)





Partner Partner




Mayank Goel Varun Gupta



'Firm Regn No.000050N/N500045 Firm Regn No. 001111N

1. The above Receipts and Payments Account has been prepared under the "Direct Method" as set out in the Accounting Standard-3 on Cash Flow

Statement issued by The Institute of Chartered Accountants of India , as prescribed by Insurance Regulatory & Development Authority (Preparation of

Financial Statements and Auditors Report of Insurance Companies ) Regulations, 2002.

Place : Mumbai Place : Mumbai

Date: April 26, 2019 Date: April 26, 2019

P018131

Text Box

Partner Membership No.:085669

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Chairman


SCHEDULES ANNEXED TO AND FORMING PART OF THE FINANCIAL STATEMENTS


SCHEDULE 1

Individual Life Group Life Group Health Individual

Health

Group


Individual

Pension Individual Life Group Life

Group

Health

Individual

Health

Group

Variable Individual Life

Individual

Life

Individual

Pension

First year premiums 2,454,707 - - 2,579 - 294,844 221,708 - 2,973,838 2,511,334 - - 3,281 - 455,395 247,140 - 3,217,150

Renewal premiums 4,635,722 - - 2,598 - 1,013,265 296,713 9,702 5,958,000 2,969,957 - - 566 - 695,557 209,388 12,314 3,887,782

Single premiums 2,786 8,809,366 53,630 5,490 187,866 - 177,577 50 9,236,765 1,537 10,857,677 19,496 24,787 - - 436,162 - 11,339,659

Total Premiums 7,093,215 8,809,366 53,630 10,667 187,866 1,308,109 695,998 9,752 18,168,603 5,482,828 10,857,677 19,496 28,634 - 1,150,952 892,690 12,314 18,444,591

Business % 40% 48% 0% 0% 1% 7% 4% 0% 101% 30% 59% 0% 0% 0% 6% 5% 0% 100%

Total Premium in India 7,093,215 8,809,366 53,630 10,667 187,866 1,308,109 695,998 9,752 18,168,603 5,482,828 10,857,677 19,496 28,634 - 1,150,952 892,690 12,314 18,444,591

Total Premium outside India - - - - - - - - - - - - - - - - - -

SCHEDULE 2


Health

Group


Individual


Group

Health

Individual

Health

Group


Individual

Life

Individual

Pension

Commission paid

Direct -First year premiums 356,626 - - 492 - 44,721 6,961 - 408,800 351,137 - - 1,238 - 52,463 7,667 - 412,505

-Renewal premiums 91,554 - - 155 - 27,474 1,634 - 120,817 50,321 - - - - 21,631 1,173 - 73,125

-Single premiums 16 280,309 1,213 42 - - 2,318 - 283,898 - 214,926 277 - - - 5,764 - 220,967

Total (A) 448,196 280,309 1,213 689 - 72,195 10,913 - 813,515 401,458 214,926 277 1,238 - 74,094 14,604 - 706,597

Add : Commission on Re-insurance Accepted - - - - - - - - - - - - - - - - - -

Less : Commission on Re-insurance Ceded - - - - - - - - - - - - - - - - - -

Net Commission 448,196 280,309 1,213 689 - 72,195 10,913 - 813,515 401,458 214,926 277 1,238 - 74,094 14,604 - 706,597

Break-up of commission expenses (gross) incurred to procure business is as per details below:


Health

Group


Individual


Group

Health

Individual

Health

Group


Individual

Life

Individual

Pension

Agents 220,273 14 - 514 - 53,459 9,541 - 283,801 187,289 - - 1,039 - 59,972 12,295 - 260,595

Brokers 1,646 89,968 1,213 - - 884 37 - 93,748 1,620 68,642 277 - - 633 29 - 71,201

Corporate Agency 184,369 184,611 - - - 14,851 826 - 384,657 185,684 146,060 - - - 12,007 1,594 - 345,345

Referral Fees 2,040 - - - - 60 13 - 2,113 2,030 - - - - 137 2 - 2,169

Micro Insurance Agent - 5,500 - - - - - - 5,500 - - - - - - - - -

Others

Bancassurance 39,868 216 - 175 - 2,941 496 - 43,696 24,835 224 - 199 - 1,345 684 - 27,287

Total (B) 448,196 280,309 1,213 689 - 72,195 10,913 - 813,515 401,458 214,926 277 1,238 - 74,094 14,604 - 706,597

Particulars


Total

Non Participating

Participating (Linked)


Total

Non Participating

(Non-Linked)


Total

Non Participating

PREMIUM

COMMISSION


Non Participating

Total



Non Participating

Total


(Linked) Participating

(Non-Linked)

Non Participating

(Non-Linked)

Non Participating

(Non-Linked)

Non Participating

(Non-Linked)

(Linked)


Non Participating Total Participating


Non Participating Non Participating

(Non-Linked)

Non Participating

DHFL PRAMERICA LIFE INSURANCE CO. LTD.SCHEDULES ANNEXED TO AND FORMING PART OF THE FINANCIAL STATEMENTS(All Amounts in Thousands of Indian Rupees)

SCHEDULE 3

OPERATING EXPENSES RELATED TO INSURANCE BUSINESS

Individual

Life Group Life

Group

Health

Individual

Health

Group

Variable

Individual

Life

Individual

Life

Individual

Pension

Individual

Life Group Life

Group

Health

Individual

Health

Individual

Life

Individual

Life

Individual

Pension

Employees remuneration and welfare benefits 1,715,656 725,430 10,840 9,587 10,333 273,099 149,192 7,918 2,902,055 1,728,214 846,987 11,611 13,469 334,563 178,303 10,839 3,123,986

Travel, conveyance and vehicle running expenses 44,089 28,865 335 306 208 5,338 3,444 272 82,857 48,699 30,659 289 344 9,415 4,774 278 94,458

Training expenses 11,322 8,180 75 57 - 1,358 345 42 21,379 68,661 132,484 2,126 2,146 10,981 4,024 2,120 222,542

Rent, rates & taxes 80,411 80,647 281 206 1,089 9,679 6,955 111 179,379 67,808 62,272 740 809 12,520 6,366 706 151,221

Repairs 34,485 38,499 609 600 66 3,547 2,084 588 80,478 27,827 37,250 519 538 5,018 2,334 509 73,995

Printing and stationery 3,435 2,999 39 37 1 389 232 35 7,167 5,344 5,264 60 66 978 479 57 12,248

Communication expenses 16,432 24,191 393 389 - 1,610 736 388 44,139 18,091 25,673 386 398 3,174 1,098 392 49,212

Legal & professional charges 107,934 101,743 1,563 1,521 394 12,791 5,894 1,493 233,333 95,870 100,974 1,485 1,569 17,237 6,564 1,511 225,210

Medical fees 2,718 6,613 98 98 - 166 123 98 9,914 2,336 5,390 85 85 390 124 85 8,495

Auditors' fees, expenses etc :

(a) as auditor 1,365 2,442 41 41 - 107 63 41 4,100 777 1,768 28 28 129 42 28 2,800

(b) as adviser or in any other capacity, in

respect of

(i) Taxation matters 347 927 11 11 - 27 16 11 1,350 96 221 4 4 16 5 4 350

(ii) Insurance matters - - - - - - - - - - - - - - - - -

(iii) Management services; and - - - - - - - - - - - - - - - - -

(c) out of pocket expenses 144 441 4 4 - 11 7 4 615 222 673 7 7 37 13 7 966

(d) in any other capacity 403 1,505 12 12 - 31 19 12 1,994 386 1,167 13 13 65 23 13 1,680

Advertisement and publicity* 201,961 467,022 6,321 6,263 2,019 13,683 10,220 6,201 713,690 193,562 351,071 5,047 5,123 32,606 13,853 5,011 606,273

Interest and bank charges 4,463 10,951 164 164 - 268 199 164 16,373 4,192 9,544 150 150 702 225 150 15,113

Others

i) Investment related charges - - - - - - - - - - - - - - - - -

ii) Postage and courier cost 9,765 19,480 194 186 4 908 441 180 31,158 16,525 16,123 157 188 2,658 883 147 36,681

iii) Sales Promotion Expenses 131,575 134,948 2,656 2,605 1,636 12,245 9,121 2,541 297,327 301,235 347,510 4,045 4,270 56,440 27,846 4,002 745,348

iv) Information technology expenses 35,770 99,856 1,207 1,200 6 2,387 1,557 1,196 143,179 58,701 99,769 1,473 1,501 10,302 3,992 1,465 177,203

v) Recruitment (including Agent advisors) 8,006 9,100 146 138 - 780 285 132 18,587 10,685 9,841 170 186 1,675 440 167 23,164

vi) Electricity,water and utilities 16,457 11,143 173 168 18 1,943 1,122 159 31,183 12,949 12,872 159 170 2,409 1,249 152 29,960

vii) Policy issuance and servicing costs 20,554 171,330 1,343 71 - 1,065 656 6 195,025 61,392 197,212 386 335 9,067 2,450 77 270,919

viii) (Profit)/Loss on fluctuation in foreign

exchange 19 20 - - - 2 2 - 43 (334) (713) (12) (12) (54) (20) (12) (1,157)

ix) (Profit)/Loss on sale of fixed assets (162) (172) (1) (1) - (19) (15) - (370) (107) (228) (4) (4) (17) (7) (4) (371)

x) Miscellaneous expenses 105,174 41,904 112 93 20 1,868 757 74 150,002 43,472 113,749 358 402 2,842 1,248 349 162,420

Depreciation 55,328 120,945 1,499 1,483 307 4,174 3,380 1,460 188,576 63,795 118,625 1,791 1,810 11,088 4,345 1,780 203,234

Total 2,607,651 2,109,009 28,115 25,239 16,101 347,457 196,835 23,126 5,353,533 2,830,398 2,526,157 31,073 33,595 524,241 260,653 29,833 6,235,950

Net of reversal of provision of Rs. 135,947 (Previous Year Rs 44,358)

SCHEDULE 3A

OPERATING EXPENSES RELATED TO SHAREHOLDERS

Employees remuneration & welfare benefits 291,217 165,702

Rent, rates & taxes 3,250 2,935

Repairs & Maintenance 1,457 870

Legal & professional charges 728 90

Advertisement and publicity* 748,519 762,310

Investment related charges 8,507 6,344 (Profit)/Loss on fluctuation in foreign exchange - - Corporate social responsibility expense 16,989 12,387

Other miscellaneous expenses 3,739 4,784

Total 1,074,406 955,422

* Brand building and related expenses have been charged to Shareholders account

Particulars For the Year April 1, 2018 to

March 31, 2019

Non Participating

(Non-Linked)

For the Year April 1, 2017

to March 31, 2018

Non Participating

(Non-Linked)


Total

Non Participating


Non Participating

Total


Participating (Linked) Particulars


SCHEDULE 4

BENEFITS PAID [NET] IN INDIA

Individual

Life Group Life

Group

Health

Individual

Health

Group

Variable

Individual

Life

Individual

Life

Individual

Pension

Individual

Life Group Life

Group

Health

Individual

Health

Group

Variable

Individual

Life

Individual

Life

Individual

Pension

Insurance Claims

(a) Claims by death 164,323 3,077,472 - - - 23,501 13,385 - 3,278,681 165,232 1,868,328 - - - 27,839 10,742 82 2,072,223

(b) Claims by Maturity 0 - - - - - 5,217 2,375 7,592 27 - - - - - - - 27

(c) Annuities/ Pension payment, - - - - - - - - - - - - - - - - - -

(d) Other benefits -

--Surrenders & Withdrawals 227,496 635,380 - 1 - 89,517 278,912 30,668 1,261,974 155,929 515,068 - - - 56,013 464,837 39,361 1,231,208

--Survival 10,925 - - - - 29,913 - - 40,838 23,389 - - - - 23,295 - - 46,684

--Health (50) - 278 5,675 - - - - 5,903 - - 180 2,350 - 2,530

--Riders - - - - - - - - - 52 - - - - - - - 52

--Claim Investigation Fees 650 4,657 - 169 - 246 1 - 5,723 2,083 3,990 3 179 - 696 26 - 6,977

-- Investment Income to policyholders on

unclaimed amounts 9,891 - - - - - - - 9,891

18,527 - - - - -

- - 18,527

--Others 2,144 2,051 - - - - - - 4,195 4,204 4,925 - - - 1,187 - - 10,316

Total paid 415,379 3,719,560 278 5,845 - 143,177 297,515 33,043 4,614,797 369,443 2,392,311 183 2,529 - 109,030 475,605 39,443 3,388,543

(Amount ceded in re-insurance) :

(a) Claims by death (33,069) (1,360,322) - - - (570) (34) - (1,393,995) (46,764) (787,649) - - - (0) 328 - (834,085)

(b) Claims by Maturity - - - - - - - - - - - - - - - - - -


(d) Other benefits - - (10) (1,638) - - - - (1,648) - - (60) (725) - - - - (785)

Total ceded (33,069) (1,360,322) (10) (1,638) - (570) (34) - (1,395,643) (46,764) (787,649) (60) (725) - (0) 328 - (834,870)

Amount accepted in re-insurance :

(a) Claims by death - - - - - - - - - - - - - - - - - -

(b) Claims by Maturity - - - - - - - - - - - - - - - - - -


(d) Other benefits - - - - - - - - - - - - - - - - - -

Total accepted - - - - - - - - - - - - - - - - - -

Net Paid 382,310 2,359,238 268 4,207 - 142,607 297,481 33,043 3,219,154 322,679 1,604,662 123 1,804 - 109,030 475,932 39,443 2,553,673

Notes:

a. Claims include specific claims settlement costs, wherever applicable.

b. Legal, other fees and expenses also form part of the claims cost, wherever applicable.

Participating Non Participating

(Non-Linked)

Non Participating

(Non-Linked)


Particulars

Non Participating



Non Participating

Total Total (Linked)


SCHEDULE 5

SHARE CAPITAL

SHARE CAPITAL

Authorised Capital

2,000,000,000 Equity Shares (Previous Year:

2,000,000,000 Equity Shares)of Rs 10/- each

20,000,000 20,000,000

Issued Capital

183,290,314 Equity Shares (Previous Year:

183,290,314 Equity Shares) of Rs 10/- each 3,740,619

3,740,619

Subscribed Capital


374,061,867 Equity Shares) of Rs 10/- each 3,740,619 3,740,619

Called-up Capital


374,061,867 Equity Shares) of Rs 10/- each

3,740,619 3,740,619

Less: Calls unpaid - -

Add : Shares forfeited (Amount originally paid up) - -

Less: Par value of equity shares bought back - -

Less: Preliminary Expenses - -

3,740,619 3,740,619

SCHEDULE 5A

PATTERN OF SHAREHOLDING (as certified by Management)

Particulars

Shareholder % of

Holding% of Holding

Promoters

· Indian 51.00% 51.00%

· Foreign 49.00% 49.00%

Others 0.00% 0.00%

Total 100% 100%

SCHEDULE 6

RESERVES AND SURPLUS

Capital Reserve - -

Capital Redemption Reserve - -

Share Premium 8,329,217 8,329,217

Revaluation Reserve - -

General Reserve - -

Less: Debit balance in Profit and Loss Account, if any - -

Less: Amount utilised for Buy-back - -

Catastrophe Reserve - -

Other Reserves - -

Balance of profit in Profit and Loss Account - -

8,329,217 8,329,217

SCHEDULE 7

BORROWINGS

Debentures/ Bonds- -

Banks- -

Financial Institutions- -

Others - -

- -

As at March 31, 2019 As at Mar 31, 2018

Particulars As at March 31, 2019 As at March 31, 2018

Expenses including commision or brokerage on underwriting or

subscription of shares.

Total

Number of Shares Number of Shares

190,771,553 190,771,553

183,290,314 183,290,314

Total

- -

374,061,867 374,061,867

Particulars As at March 31, 2019 As at Mar 31, 2018

Total

Particulars As at March 31, 2019 As at Mar 31, 2018




SCHEDULE 8

INVESTMENTS SHAREHOLDERS (IN INDIA)

As at March 31,

2019

As at March 31,

2018

4,598,343 5,399,009

362,262 366,184

217,734 1,356,615

- -

- -

- -

100,000 665,272

- -

4,000 4,000

- -

- -

688,484 1,010,075

642,961 -

1,048,992 57,644

97,883 73,250

- -

- -

- -

60,047 -

- -

45,000 -

- -

(0) -

- -

- -

26,000 (0)

(0) 0

30,000 -

7,921,706 8,932,049

6,654,980 7,517,790

6,515,622 7,317,255

There are no investments in subsidiaries/holding companies, joint ventures.

*Investment in Associate Company at Cost is Rs. 304,272 /- [Previous year Rs. 409,330/- )

Debentures/ Bonds [Market Value Rs. 30,084] [Previous Year Rs. Nil]

Other investments

SHORT TERM INVESTMENTS

(c) Derivative Instruments

Government securities and Government guaranteed bonds including Treasury Bills

Other Approved Securities

(a) Shares

(aa) Equity

(bb) Preference

(b) Mutual Funds [Historical cost Rs. 60,000] [Previous Year Rs. Nil]

Aggregate Market Value of Investments other than listed equity securities, derivative instruments and Additional tier 1 Bonds

(d) Debentures/ Bonds [Market Value Rs. 45,576] [Previous Year Rs. Nil]

Total

Aggregate Amount of Investments other than listed equity securities, derivative instruments and Additional tier 1 Bonds

(b) Mutual Funds

(c) Derivative Instruments

(d) Debentures/ Bonds [Market Value Rs. 102,968] [Previous Year Rs. 6,91,935]*

Deposits with Bank

Alternative Investment Fund [Historical Cost Rs. 100,000] [Previous Year Rs 75,020]

(e) Other Securities

Commercial Paper / Certificate of Deposits

Debentures/ Bonds [ Market Value Rs. 651,954] [Previous Year Rs. Nil]

Equity Shares [Historical Cost Rs. 1,661,002] [Previous Year Rs 61,346]

(f) Subsidiaries

(g) Investment Properties-Real Estate

Investments in Infrastructure and Social Sector Bonds [Market Value Rs. 674,365] [Previous Year Rs. 1,015,483]

Other than Approved Investments


Mutual Fund [Historical Cost Rs. Nil] [Previous Year Rs. Nil]

Particulars

LONG TERM INVESTMENTS

Government securities and Government guaranteed bonds including Treasury Bills [Market Value Rs. 4,470,530] [Previous Year Rs.

5,177,028]

(bb) Preference

Other Approved Securities [Market Value Rs. 352,150] [Previous Year 3,55,557]

Other investments

(a) Shares

(aa) Equity [Historical Cost Rs. 254,389] [Previous Year Rs 1,745,097]


Deposits with Bank

(f) Subsidiaries


Investments in Infrastructure and Social Sector [Market Value Rs. 26,066] [Previous Year Rs. Nil]

Reverse Repo




SCHEDULE 8A

INVESTMENTS POLICYHOLDERS (IN INDIA)

-


Health

Individual

Health

Group


Individual

Life

Individual

Pension

LONG TERM INVESTMENTSGovernment securities and Government guaranteed bonds including Treasury Bills

[Market Value Rs. 14,554,702] 6,723,829 6,198,927 45,123 20,494 98,245 1,404,780 17,780 3,080 14,512,258

Other Approved Securities [Market Value Rs. 1,633,605] 353,725 1,177,681 - - - 111,843 - - 1,643,249

Other investments(a) Shares

(aa) Equity [Historical cost Rs.250,000] 50,697 182,508 - - - 20,279 - - 253,484

(bb) Preference - - - - - - - - -

(b) Mutual Funds - - - - - - - - -

(c) Derivative Instruments - - - - - - - - -

(d) Debentures/ Bonds [ Market Value Rs. 4,110,728]* 1,889,780 1,619,511 - - 3,010 532,405 3,000 - 4,047,706

(e) Other Securities - - - - - - - - -

Commercial Paper / Certificate of Deposits - - - - - - - - -

Deposits with Bank 2,000 - - - - - - 500 2,500

(f) Subsidiaries - - - - - - - - -

(g) Investment Properties-Real Estate - - - - - - - - -

(h) Policy Loans - - - - - - - - -

Investments in Infrastructure and Social Sector [Market Value Rs. 8,373,520] 3,405,372 4,195,930 - 15,000 87,000 653,217 10,939 - 8,367,458

Other than Approved Investments - - - - - - - - -

Debentures/ Bonds Market Value Rs. 1,183,924] 352,765 715,423 - - - 99,453 2,534 - 1,170,175

Equity Shares [Historical Cost Rs. 150,000] 100,233 - - - - 50,116 - - 150,349


Government securities and Government guaranteed bonds including Treasury Bills (0) 0 0 - - - - 0 (0)

Other Approved Securities [Market Value Rs. 20,224] - 20,041 - - - - - - 20,041

(a) Shares - - - - - - - - -

(aa) Equity - - - - - - - - -

(bb) Preference - - - - - - - - -

(b) Mutual Funds [Historical cost Rs. 651,700] 425,676 205,298 (0) (0) 100 21,213 0 - 652,287


(d) Debentures/ Bonds [Market Value Rs. 258,076] 40,000 217,427 - - - - - - 257,427

(e) Others Securities - - -


Deposits with Bank - - - - - - - - -

Reverse Repo 0 0 - - - (0) - - 0

(f) Subsidiaries - - - - - - - - -


Investments in Infrastructure and Social Sector [Market Value Rs. 55,912] 55,000 (0) - - - 0 - - 55,000


Mutual Funds [Historical cost Rs. NIL] - - - - - - 0 - 0

Debentures/ Bonds [Historical cost Rs. 344,960] - 343,000 - - - - 1,000 - 344,000

Total 13,399,077 14,875,746 45,123 35,494 188,355 2,893,306 35,253 3,580 31,475,934

Aggregate Amount of Investments other than listed equity securities, derivative

instruments and Additional tier 1 Bonds 13,248,148 14,693,239 45,123 35,494 188,355 2,822,911 35,253 3,580 31,072,103

Aggregate Market Value of Investments other than listed equity securities, derivative

instruments and Additional tier 1 Bonds 13,384,940 14,641,271 45,545 36,188 190,066 2,852,232 36,565 3,631 31,190,438

There are no investments in subsidiaries/holding companies, joint ventures

*Investment in Associate Company at Cost is Rs. 1,140,498/-

Participating (Linked) Particulars

As at March 31, 2019

Total

Non Participating Non Participating

(Non-Linked)




SCHEDULE 8A

INVESTMENTS POLICYHOLDERS (IN INDIA)


Health

Individual

Health

Group


Individual

Life

Individual

Pension



[Market Value Rs 1,1097,935 ]

4,933,580 5,214,766 21,067 21,055 - 1,003,130 28,423 3,645 11,225,666

Other Approved Securities [Market Value Rs 1,293,785] 50,112 1,163,509 - - - 98,086 - - 1,311,707

Other investments

(a) Shares

(aa) Equity [Historical cost Rs.550,000] 154,557 339,137 - - - 72,169 - - 565,863

(bb) Preference - - - - - - - - -

(b) Mutual Funds - - - - - - - - -


(d) Debentures/ Bonds [ Market Value Rs. 3,415,804]* 1,189,330 1,917,246 - - - 250,225 3,534 - 3,360,335

(e) Other Securities - - - - - - - - -


Deposits with Bank 2,000 - - - - - - 500 2,500

(f) Subsidiaries - - - - - - - - -


(h) Policy Loans - - - - - - - - -

Investments in Infrastructure and Social Sector [Market Value Rs.6,895,777] 2,476,541 3,885,233 - 15,000 - 480,552 10,920 - 6,868,246


Debentures/ Bonds Market Value Rs. NIL] - - - - - - - - -



[Market Value Rs Nil]

- - - - - - - - -

Other Approved Securities [Market Value Rs. Nil] - - - - - - - - -

(a) Shares - - - - - - - - -

(aa) Equity - - - - - - - - -

(bb) Preference - - - - - - - - -

(b) Mutual Funds [Historical cost Rs. 381,200] 179,556 200,517 607 - - - 814 - 381,494


(d) Debentures/ Bonds - - - - - - - - -

(e) Others Securities - - -


Deposits with Bank - - - - - - - - -


(f) Subsidiaries - - - - - - - - -


Investments in Infrastructure and Social Sector [Market Value Rs 69,190 ] - 68,928 - - - - - - 68,928


Mutual Funds [Historical cost Rs. NIL] - - - - - - - - -

Total 8,985,676 12,789,336 21,674 36,055 - 1,904,162 43,691 4,145 23,784,739

Aggregate Amount of Investments other than listed equity securities, derivative

instruments and Additional tier 1 Bonds 8,831,120 12,450,200 21,674 36,055 - 1,831,995 43,691 4,145 23,218,878

Aggregate Market Value of Investments other than listed equity securities, derivative

instruments and Additional tier 1 Bonds 8,899,541 12,320,659 21,611 36,263 - 1,829,112 45,119 4,182 23,156,487

There are no investments in subsidiaries/holding companies, joint ventures

*Investment in Associate Company at Cost is Rs. 489,100/-

Non Participating

(Non-Linked) Total Particulars



Non Participating




SCHEDULE 8BASSETS HELD TO COVER LINKED LIABILITIES

Individual Life Individual Pension Total

LONG TERM INVESTMENTS462,669 13,358 476,027

Other Approved Securities - - -

Other investments

Other investments

(a) Shares

(aa) Equity [Historical Cost of Rs. 1,415,865] 1,759,092 97,055 1,856,147

(bb) Preference - - -

(b) Mutual Funds - - -

(c) Derivative Instruments - - -

(d) Debentures/ Bonds [Historical cost Rs. 207,118]* 206,409 6,273 212,682

(e) Other Securities - Fixed Deposits 6,500 - 6,500

(f) Subsidiaries - - -


Investments in Infrastructure and Social Sector [Historical Cost of Rs. 210,641] 209,577 5,360 214,937


(a) Debentures/ Bonds Historical cost Rs. 35,047] 35,334 - 35,334

(b) Equity [Historical Cost of Rs 158,900] 124,574 8,269 132,843

(c) Exchange Traded Fund [Historical cost Rs. 125,529] 146,275 3,066 149,341



[Historical Cost of Rs. 330,757] 343,092 481 343,573

Other Approved Securities [Historical Cost Rs Nil] - - -

Other Investments

(a) Shares

(aa) Equity - - -


(b) Mutual Funds [Historical Cost of Rs. 112,600] 106,995 5,705 112,700


(d) Debentures/ Bonds [Historical Cost of Rs. 28,184] 27,192 1,013 28,205


Deposit with Bank - - -

Reverse Repo - - (0)


(g) Investment Properties-Real Estate - - -

Investments in Infrastructure and Social Sector [Historical Cost of Rs. 22,955] 20,797 2,005 22,802


(a) Equity Shares - - -

(b) Mutual Funds [Historical Cost of Rs Nil] - - -

(c) Debentures/ Bonds [Historical Cost of Rs. 6,000] 6,017 - 6,017

NET CURRENT ASSETS

Current Assets

Bank Balances 18,482 312 18,794

Income accrued on investments 54,379 944 55,323

Other Receivable 22,089 283 22,372

Appropriation Adjustment Account - - -

Other Current Assets - - -

Current Liabilities

Payables for purchase of Securities - - -

FMC Payable (4,276) (188) (4,464)

Other Payables (46,255) (5,542) (51,797)

Expropriation Adjustment Account - - -

3,498,942 138,394 3,637,336

1,570,856 37,261 1,608,117




Government securities and Government guaranteed bonds including Treasury Bills [Historical Cost of Rs. 475,760]

Particulars

Total

Aggregate Amount of Investments other than listed equity securities, derivative instruments and Additional tier 1

Bonds




SCHEDULE 8BASSETS HELD TO COVER LINKED LIABILITIES

Individual Life Individual Pension Total


403,890 14,260 418,150

Other Approved Securities - - -

Other investments

(a) Shares

(aa) Equity [Historical Cost of Rs 1,188,593] 1,312,622 97,409 1,410,031

(bb) Preference

(b) Mutual Funds - - -


(d) Debentures/ Bonds [Historical cost Rs 2,00,567]* 201,195 5,308 206,503

(e) Other Securities - Fixed Deposits 6,500 - 6,500



Investments in Infrastructure and Social Sector [Historical Cost of Rs 215,110] 204,644 12,780 217,424


(a) Debentures/ Bonds Historical cost Rs. NIL] - - -

(b) Equity [Historical Cost of Rs 184,663] 201,985 15,725 217,710

(c) Exchange Traded Fund [Historical cost Rs.46,763] 45,593 - 45,593


243,147 - 243,147

Other Approved Securities [Historical Cost Rs Nil] - - -

Other Investments

(a) Shares

(aa) Equity - - -


(b) Mutual Funds [Historical Cost of Rs 69,900] 65,550 4,405 69,955


(d) Debentures/ Bonds [Historical Cost of Rs 22,380] 22,391 - 22,391


Deposit with Bank - - -


(g) Investment Properties-Real Estate - - -

Investments in Infrastructure and Social Sector [Historical Cost of Rs 50,309] 50,305 - 50,305


(a) Equity Shares - - -

(b) Mutual Funds [Historical Cost of Rs Nil] - - -

NET CURRENT ASSETS

Current Assets

Bank Balances 27,312 489 27,801

Income accrued on investments 83,249 1,042 84,291

Other Receivable 13,565 - 13,565

Appropriation Adjustment Account - - -

Other Current Assets - - -

Current Liabilities

Payables for purchase of Securities - - -

FMC Payable (3,504) (202) (3,706)

Other Payables (42,367) (5,159) (47,526)

Expropriation Adjustment Account - - -

2,836,077 146,057 2,982,134

1,243,215 36,753 1,279,968




Aggregate Amount of Investments other than listed equity securities and derivative instruments

Government securities and Government guaranteed bonds including Treasury Bills [Historical Cost of Rs 431,239]

Particulars

Total


[Historical Cost of Rs 236,847]




SCHEDULE 9

LOANS

Particulars

As at March 31,

2019

As at March 31,

2018

SECURITY -WISE CLASSIFICATION

Secured

(a) On mortgage of property

(aa) In India - -

(bb) Outside India - -

(b) On Shares, Bonds, Govt. Securities, etc. - -

(c) Loans against policies 193,360 54,166

(d) Others - -

Unsecured - -

Total 193,360 54,166

BORROWER-WISE CLASSIFICATION

(a) Central and State Governments - -

(b) Banks and Financial Institutions - -

(c) Subsidiaries - -

(d) Companies - -

(e) Loans against policies 193,360 54,166

(f) Others - -

Total 193,360 54,166

PERFORMANCE-WISE CLASSIFICATION

(a) Loans classified as standard

(aa) In India 193,360 54,166


(b) Non-standard loans less provisions

- -


Total 193,360 54,166

MATURITY- WISE CLASSIFICATION

(a) Short Term - -

(b) Long Term 193,360 54,166

Total 193,360 54,166

Note:

1. Short-term loans include those which are repayable within 12 months from the date of Balance Sheet. Long term loans are

the loans other than short-term loans.

2. Loans considered doubtful and the amount of provision created against such loans is for Rs. Nil (Previous Year : Rs. Nil)


SCHEDULE 10

FIXED ASSETS

Goodwill - - - - - - - - - -

Intangibles - Software 566,233 22,566 998 587,801 283,747 100,357 998 383,106 204,695 282,486

Land-Freehold - - - - - - - - - -

Leasehold improvements 163,004 57,996 2,705 218,295 71,315 25,435 2,385 94,365 123,930 91,689

Buildings - - - - - - - - - -

Furniture and fixtures 30,735 10,265 624 40,376 22,656 4,418 602 26,472 13,904 8,079

Information Technology equipment 260,647 30,476 17,872 273,251 140,751 51,380 17,634 174,497 98,754 119,896

Vehicles - - - - - - - - - -

Office equipment 44,204 17,234 2,491 58,947 29,515 6,986 2,459 34,042 24,905 14,689

Others - - - - - - - - - -

Total 1,064,823 138,537 24,690 1,178,670 547,984 188,576 24,078 712,482 466,188 516,839

Capital Work in Progress 50,263 26,603

Grand Total 1,064,823 138,537 24,690 1,178,670 547,984 188,576 24,078 712,482 516,451 543,442

Previous Year 793,764 282,596 11,537 1,064,823 355,744 203,233 10,993 547,984 543,442 504,589

Particulars

Cost/Gross Block Depreciation

As at April 1,

2018Additions Deductions

As at March 31,

2019

As at April 1,

2018

For The

Period

On Sales

/Adjustments

As at March 31,

2019

As at March 31,

2019

As at March

31,2018

Net Block




SCHEDULE 11

CASH AND BANK BALANCES

Particulars As at March 31,

2019

As at March 31,

2018

1. Cash [Including cheques, drafts and stamps] 179,944 310,002

2. Bank Balances

(a) Deposit Accounts

(aa) Short-term (i.e due within 12 months of Balance Sheet) - -

(bb) Others (under lien) 100 100

(b) Current accounts 469,912 550,391

(c) Others - -

3. Money at Call and Short Notice

(a) With Banks - -

(b) With other Institutions - -

4. Others - -

Total 649,956 860,493

Balances with non-scheduled bank included in 2 & 3 above - -

CASH & BANK BALANCES

1. In India 649,956 860,493

2. Outside India - -

Total 649,956 860,493

Note:

Cash and Bank Balance includes fund in transit Rs. 159,912 (Previous year Rs. 288,958).

SCHEDULE 12

ADVANCES AND OTHER ASSETS


2019

As at March 31,

2018 ADVANCES

Reserve deposits with ceding companies - -

Application money for investments - -

Prepayments 53,663 75,581

Advances to Directors / Officers - -

Advance tax paid and taxes deducted at source (Net of provision for taxation amount) 1,013 28

Others:

Security Deposits 98,494 83,828

Deposit -Others 13,323 8,887

Advances to employees 6,888 8,779

Total (A) 173,381 177,103

OTHER ASSETS

Income accrued on investments 1,057,429 919,317

Outstanding Premiums 538,189 359,825

Agents' balances 19,641 18,708

Foreign Agencies Balances - -

Due from other entities carrying on insurance business (including reinsurers) 634,855 646,395

Due from subsidiaries / holding company - -

Deposits with Reserve Bank of India (Pursuant to Section 7 of Insurance Act, 1938) - -

Others:

Seed Capital Contribution towards Unit Linked Funds 51,797 47,526

Investments held to meet policyholder unclaimed amounts 143,636 175,971

Investments Income on Unclaimed Fund 7,410 3,051

Service Tax Unutilized Credit - -

Due from Affiliates - -

Other Dues 10,782 8,063

Receivable towards Participating non linked funds - -

GST Unutilized Credit 363,224 258,389

Receivable towards Non-par non linked funds 803 -

Receivable from clearing firm 285,031 -

Application money for Investments - -

Receivable from Unclaimed Fund 60,556 43,765

Receivable from ex employees 19,142 12,255

Insurance policies (Gratuity) 78,739 -

Insurance policies (Leave Encashment) 78,755 -

3,349,989 2,493,265

Less:

Agents' Balances - provision for doubtful amounts (14,751) (13,002)

Receivable from ex employees- provision (19,142) (12,255)

Provision on Prepayments/Vendor Advances (6,573) (6,573)

Total (B) 3,309,523 2,461,435

Total (A) + (B) 3,482,904 2,638,538


SCHEDULES ANNEXED TO AND FORMING PART OF THE FINANCIAL STATEMENTS(All Amounts in Thousands of Indian Rupees)

SCHEDULE 13

CURRENT LIABILITIES


2019

As at March 31,

2018

Agents' balances 98,241 178,119

Balance due to other insurance companies 363,834 381,721

Deposits held on reinsurance ceded - -

Premium received in advance 21,704 29,355

Unallocated premium 454,178 1,182,070

Sundry creditors 110,587 56,768

Due to subsidiaries/holding company - -

Claims Outstanding* 89,464 60,810

Annuities Due - -

Due to Officers/ Directors - -

Others:

-Due to unit linked fund 17,006 13,565

-Policy holders Unclaimed 136,147 168,458

-Policy holders Unclaimed-Investment Income 14,899 10,564

-Proposal deposits (0) (0)

-Policy Deposits 10,016 9,765

-Payable to Policyholders - -

-Lease Equalistion Reserve 21,536 12,461

- Accrued Expenses 978,367 1,403,931

-Withholding Tax Deducted at Source 63,458 85,997

- Due to Participating non linked funds - -

- Due to Non-Par non linked funds 803 -

- Serivce Tax Payable - -

- GST Payable 71,559 161,643

- Other Statutory liabilities 21,615 20,508

Total 2,473,414 3,775,735

*Includes cases where investigation is pending

SCHEDULE 14

PROVISIONS


2019

As at March 31,

2018 For taxation (less payments and taxes deducted at source) - - For proposed dividends - -

For dividend distribution tax - -

Others :

- Provision for Gratuity 78,728 62,477

- Provision for Leave Encashment 77,172 72,637

Total 155,900 135,114

SCHEDULE 15

MISCELLANEOUS EXPENDITURE (To the extent not written off or adjusted)


2019

As at March 31,

2018

Discount Allowed in issue of shares/debentures - - Others - -

Total - -

DHFL PRAMERICA LIFE INSURANCE CO. LTD.SCHEDULES ANNEXED TO AND FORMING PART OF THE FINANCIAL STATEMENTS

Statement showing the Controlled Fund (Rs. in crores)

S. No. Particulars As at March

31, 2019

As at March

31, 2018 1 Computation of Controlled fund as per the Balance

Sheet Policyholders' Fund (Life Fund)Participating

Individual Assurance 285.14 191.58 Individual PensionAny other (Pl. Specify)

Non-participatingIndividual Assurance 1,365.43 906.12 Group Assurance 1,525.22 1,302.64 Individual AnnuityGroup Health 1.59 0.87 Individual Health 2.70 2.46 Group Variable 19.28 - Any other (Pl. Specify)

LinkedIndividual Assurance 2.01 1.94 Group AssuranceIndividual Pension 0.14 0.27 Group SuperannuationGroup GratuityAny other (Pl. Specify)

ULIP Reserve 363.73 298.21 Fair Value Change 0.44 1.62

Funds for Future Appropriations 4.17 - Total (A) 3,569.85 2,705.73

Shareholders'' FundPaid up Capital 374.06 374.06 Reserves & Surpluses 832.92 832.92 Fair Value Change (65.07) (39.40)

Total (B) 1,141.91 1,167.59 Misc. expenses not written offCredit / (Debit) from P&L A/c. (162.87) (248.05)

Total (C ) (162.87) (248.05) Total shareholders' funds (B+C) 979.04 919.54

Controlled Fund (Total (A+B+C)) 4,548.89 3,625.26

2 Reconciliation of the Controlled Fund from Revenue

and Profit & Loss Account

Opening Balance of Controlled Fund 3,625.26 2,747.09 Add: Inflow

IncomePremium Income 1,816.86 1,844.46 Less: Reinsurance ceded (125.49) (98.69) Net Premium 1,691.37 1,745.77 Investment Income 271.95 181.66 Other Income 1.08 0.31 Funds transferred from Shareholders' Accounts 12.57 21.64

Total Income* 1,976.97 1,949.38 Less: Outgo

(i) Benefits paid (Net) 321.92 254.34 (ii) Interim Bonus Paid 0.02 0.02 (iii) Change in Valuation of Liability 861.13 827.33 (iv) Commission 81.35 70.66 (v) Operating Expenses 392.06 451.92 (vi) Provision for Taxation (a) Fringe Benefit Tax - - (b) Income Tax - - (vii) Provision other than taxation (a) For diminution in the value of investments (Net) 4.02 - (b) Others

Total Outgo* 1,660.49 1,604.27 Surplus of the Policyholders' Fund 316.48 345.11 Less: transferred to Shareholders' Account 312.31 345.11 Net Flow in Policyholders' account 4.17 (0.00) Add: Net income in Shareholders' Fund 85.18 105.89 Net In Flow / Outflow 89.35 105.89 Add: change in valuation Liabilities 834.28 772.28 Add: Increase in Paid up Capital - 0.00 Closing Balance of Controlled Fund 4,548.89 3,625.26 As Per Balance Sheet 4,548.89 3,625.26

Difference, if any 0.00 (0.00)

3

Reconciliation with Shareholders' and Policyholders'

Funda Policyholders' Funds

Policyholders' Funds - Traditional-PAR and NON-PAROpening Balance of the Policyholders' Fund 2,403.68 1,624.97 Add: Surplus of the Revenue AccountAdd: change in valuation Liabilities 795.68 778.71 Total 3,199.36 2,403.68 As per Balance Sheet 3,199.36 2,403.68

Policyholders' Funds - LinkedOpening Balance of the Policyholders' Fund 300.43 251.81 Add: Surplus of the Revenue Account

Add: Fair Value Change 0.44 1.62 Add: change in valuation Liabilities 65.45 48.62 Total 366.32 302.04 As per Balance Sheet 366.32 302.04

b Shareholders' Funds

Opening Balance of Shareholders' Fund 919.54 868.67

Add: net income of Shareholders' account (P&L) 85.18 105.89

Add: Infusion of Capital - - Add: Fair Value Change (25.68) (55.02)

Closing Balance of the Shareholders'' fund 979.05 919.54

As per Balance Sheet 979.04 919.54 Difference, if any - - * Includes income/expense in respect of ULIP business as well

Difference, if any



ANNEXURE TO THE REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2019

Policyholders’ Account (Technical Account)


Schedule Non-Unit Unit Total Non-Unit Unit Total


Premiums 10,037 685,961 695,998 (2,667) 12,418 9,752 705,750

Less : Reinsurance Ceded (1,974) - (1,974) - - - (1,974)

8,063 685,961 694,024 (2,667) 12,418 9,752 703,776

- - Income from Investments

(a) Interest, Dividends & Rent - Gross 3,445 125,543 128,988 370 4,052 4,422 133,410

(b) Profit on sale/ redemption of investments 275 65,941 66,216 7 10,287 10,293 76,509

(c) (Loss) on sale/ redemption of investments (21) (20,368) (20,389) - (3,321) (3,321) (23,710)

(d) Unrealised Gain Loss - 195,213 195,213 - 4,688 4,688 199,901

(e) Amortisation of discount/(premium) (53) - (53) (15) - (15) (68)

Other Income

(a) Linked income UL1 101,188 (101,188) - 2,742 (2,742) - -

(b) Fees & charges - - - - - - -

(c) Contribution from the Shareholders' Account 123,833 123,833 - - 123,833

Total (A) 236,731 951,102 1,187,832 437 25,382 25,819 1,213,651

Commission 10,913 - 10,913 - - - 10,913

Operating Expenses related to Insurance Business 196,835 - 196,835 23,126 - 23,126 219,961

Operating Expenses in excess of Allowable Expense

transferred to Shareholders Account

- - (22,311) (22,311) (22,311)

Service Tax on Premium 19,077 - 19,077 424 424 19,501

Provision for Tax - - - - - - -

Provision (other than taxation) - -

(a) For diminution in the value of investments( Net) - - - - -

(b) Others - - - - -

Total (B) 226,825 - 226,825 1,239 - 1,239 228,064

Benefits Paid (Net) UL2 9,244 288,236 297,481 - 33,043 33,043 330,524

Interim Bonuses Paid - - - - - - -

Change in valuation of liability against life policies in force: - -

(a) Gross 661 662,866 663,527 (1,357) (7,662) (9,019) 654,508

(b) (Amount ceded in Reinsurance ) - - - - - - -

(c) Amount accepted in Reinsurance - - - - - - -

Total ( C ) 9,905 951,102 961,007 (1,357) 25,382 24,025 985,032

SURPLUS/ (DEFICIT) ( D )= ( A) - ( B ) - ( C ) - - - 555 - 555 555

-

Deficit at the beginning of the year - - - - -


APPROPRIATION

- - - 555 - 555 555

Transfer to Shareholders’ Account - - - 555 - 555 555

Funds available for Future Appropriations - - - - - - -

Total (D) - - - - - - -

Significant accounting policies and notes to the accounts 16

The Schedules referred to above form an integral part of the Annexure to the Revenue Account

Total Unit

Linked


Linked Individual Pension Linked Individual Life Particulars



ANNEXURE TO THE REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2018

Policyholders’ Account (Technical Account)


Schedule Non-Unit Unit Total Non-Unit Unit Total


Premiums 23,034 869,656 892,690 453 11,861 12,314 905,004

Less : Reinsurance Ceded (1,756) - (1,756) - - - (1,756)

21,278 869,656 890,934 453 11,861 12,314 903,248

- -


(a) Interest, Dividends & Rent - Gross 3,482 103,066 106,548 322 4,571 4,893 111,441

(b) Profit on sale/ redemption of investments 283 126,004 126,287 5 18,615 18,620 144,907

(c) (Loss) on sale/ redemption of investments - (7,334) (7,334) - (1,167) (1,167) (8,501)

(d) Unrealised Gain Loss - (33,197) (33,197) - (7,281) (7,281) (40,478)

(e) Amortisation of discount/(premium) (72) - (72) (8) - (8) (80)

Other Income

(a) Linked income UL1 86,861 (86,861) - 2,985 (2,985) - -

(b) Fees & charges 24 - 24 - - - 24

(c) Contribution from the Shareholders' Account 174,674 174,674 - - 174,674

Total (A) 286,530 971,334 1,257,864 3,757 23,614 27,371 1,285,235

Commission 14,604 - 14,604 - - - 14,604

Operating Expenses related to Insurance Business 260,653 - 260,653 29,833 - 29,833 290,486

Operating Expenses in excess of Allowable Expense

transferred to Shareholders Account

(12,353) (12,353) (29,291) (29,291) (41,644)

Service Tax on Premium 17,004 - 17,004 403 403 17,407

Provision for Tax - Fringe Benefit Tax - - - - - - -

Provision (other than taxation) - -

(a) For diminution in the value of investments( Net) - - - - -

(b) Others - - - - -

Total (B) 279,908 - 279,908 945 - 945 280,853

Benefits Paid (Net) UL2 6,309 469,624 475,933 - 39,443 39,443 515,376

Interim Bonuses Paid - - - - - - -

Change in valuation of liability against life policies in force: - -

(a) Gross 313 501,710 502,023 (36) (15,829) (15,865) 486,158

(b) (Amount ceded in Reinsurance ) - - - - - - -

(c) Amount accepted in Reinsurance - - - - - - -

Total ( C ) 6,622 971,334 977,956 (36) 23,614 23,578 1,001,534

SURPLUS/ (DEFICIT) ( D )= ( A) - ( B ) - ( C ) - - - 2,848 - 2,848 2,848

-

Deficit at the beginning of the year - - - - -


APPROPRIATION

- - - 2,848 - 2,848 2,848

- - - 2,848 - 2,848 2,848

Transfer to Shareholders’ Account - - - - - - -

Funds available for Future Appropriations - - - - - - -

Total (D) - - - - - - -


The Schedules referred to above form an integral part of the Annexure to the Revenue Account

FORM A-RA


Particulars Linked Individual Life Linked Individual Pension Total Unit

Linked

Schedules to Annexure to Revenue Account (UL) forming part of Financial Statements


IRDAI REGISTRATION NO: 140; DATE OF REGISTRATION WITH IRDAI : JUNE 27, 2008(All Amounts in Thousands of Indian Rupees)

Schedule-UL1

Linked Income (recovered from linked funds)*

Linked

Individual Life

Linked Individual

PensionTotal

(1) (2) (3) = (1)+(2)

Fund Administration charges - - -

Fund Management charge 39,937 1,947 41,884

Policy Administration charge 23,076 370 23,446

Surrender charge - - -

Goods & Service tax 18,990 425 19,415

Switching charge 175 - 175

Discontinuance Charges 2,075 - 2,075

Mortality charge 16,935 - 16,935

Rider Premium charge - - -

Partial withdrawal charge - - -

Miscellaneous charge - - -

-

TOTAL (UL-1) 101,188 2,742 103,930 * (net of Goods & Services tax, if any)

Linked Income (recovered from linked funds)*

Linked

Individual Life

Linked Individual

PensionTotal

(1) (2) (3) = (1)+(2)

Fund Administration charges - - -

Fund Management charge 31,813 2,162 33,975

Policy Administration charge 20,995 377 21,372

Surrender charge - - -

Goods & Service tax 17,381 446 17,827

Switching charge 156 - 156

Discontinuance Charges 689 - 689

Mortality charge 15,720 - 15,720

Rider Premium charge 107 - 107

Partial withdrawal charge - - -

Miscellaneous charge - - -

-

TOTAL (UL-1) 86,861 2,985 89,846

* (net of Goods & Services tax, if any)



Particulars

Particulars



Schedule–UL2


BENEFITS PAID [NET]

Particulars

Grand Total

Non Unit Unit Total Non Unit Unit Total

(1) (2) (3)=(1)+(2) (4) (5)(6)=(4)+(5

)(7)=(3)+(6)

1 Insurance Claims

(a) Claims by Death 9,277 4,108 13,385 - - - 13,385

(b) Claims by Maturity - 5,217 5,217 - 2,375 2,375 7,592

(c) Annuities / Pension payment - - - - - - -

(d) Other benefits

- Surrender - 278,912 278,912 - 30,668 30,668 309,580

--Survival - - - - -

--Riders - - - - - -

--Claim Investigation Fees 1 - 1 - - - 1

--Interest on unclaimed amounts - - - - - -

Sub Total (A) 9,278 288,237 297,515 - 33,043 33,043 330,558

2 Amount Ceded in reinsurance

(a) Claims by Death 34 34 - - 34

(b) Claims by Maturity - - - - - - -


(d) Other benefits

- Surrender - - - - - - -

- Survival - - - - - - -

Sub Total (B) 34 - 34 - - - 34 3 TOTAL (A) - (B) 9,244 288,237 297,481 - 33,043 33,043 330,524

Benefits paid to claimants:

In India 297,481 33,043 330,525

Outside India - - - - - - -

TOTAL (UL2) - - 297,481 - - 33,043 330,525

BENEFITS PAID [NET]

Non Unit Unit Total Non Unit Unit Total(1) (2) (3)=(1)+(2) (4) (5) (6)=(4)+(5 (7)=(3)+(6)

1 Insurance Claims

(a) Claims by Death 5,955 4,787 10,742 - 82 82 10,824



(d) Other benefits

- Surrender - 464,837 464,837 - 39,361 39,361 504,198

--Survival - - - - -

--Riders - - - - - -

--Claim Investigation Fees 26 - 26 - - - 26

--Interest on unclaimed amounts - - - - - - -

--Others - - - - - -

Sub Total (A) 5,981 469,624 475,605 - 39,443 39,443 515,048

2 Amount Ceded in reinsurance

(a) Claims by Death (328) (328) - - (328)



(d) Other benefits

- Surrender - - - - - - -

- Survival - - - - - - -

Sub Total (B) (328) - (328) - - - (328)

TOTAL (A) - (B) 6,309 469,624 475,933 - 39,443 39,443 515,376

Benefits paid to claimants:

In India 475,933 39,443 515,376

Outside India - - - - - - -

TOTAL (UL2) - - 475,933 - - 39,443 515,376

Linked Individual PensionLinked Individual LifeSl.

No.

Sl.

No.Particulars

For the Year April 1, 2017 to March 31, 2018Linked Individual Life Linked Individual Pension

Grand Total





FUND BALANCE SHEET AS AT MARCH 31, 2019

LARGE CAP

EQUITY FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

MULTI CAP

OPPORTUNI

TY FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Sources of Funds

Policyholders' Funds:

Policyholder contribution F-1 1,202,344 486,713 530,148 395,920 17,583 18,318 197,071 (11,479) 2,357 (7,243) 15 2,831,747

Revenue Account 360,890 (38,256) 134,144 69,627 4,075 1,253 119,112 109,642 10,615 20,966 13,520 805,588

Total 1,563,234 448,457 664,292 465,547 21,658 19,570 316,183 98,163 12,972 13,723 13,536 3,637,335

Application of Funds

Investments F-2 1,529,873 445,659 658,673 451,225 30,203 18,240 320,647 99,670 13,565 14,734 14,616 3,597,105

Current Assets F-3 35,321 13,074 16,120 28,839 53 1,353 193 415 276 322 526 96,491

Less: Current Liabilities and Provisions F-4 1,960 10,276 10,501 14,517 8,598 23 4,657 1,922 869 1,333 1,606 56,262

Net current assets 33,361 2,798 5,619 14,322 (8,545) 1,330 (4,464) (1,507) (593) (1,011) (1,080) 40,229

Total 1,563,234 448,457 664,292 465,547 21,658 19,570 316,183 98,163 12,972 13,723 13,536 3,637,335

`

Net Asset Value (NAV) per Unit: 30.0086 25.1659 27.2196 21.6105 16.5658 11.2076 17.7370 35.3220 24.4255 32.2152 19.3244

(a) Net Asset as per Balance Sheet (Total

Assets less Current Liabilities and Provisions)

(Rs. In '000) 1,563,234 448,457 664,292 465,547 21,658 19,570 316,183 98,163 12,972 13,723 13,536

(b) Number of Units outstanding 52,092,887 17,820,048 24,404,918 21,542,580 1,307,405 1,746,139 17,826,161 2,779,056 531,078 426,029 700,444

(c) NAV per Unit (a)/(b) (Rs.) 30.0086 25.1659 27.2196 21.6105 16.5658 11.2076 17.7370 35.3220 24.4255 32.2152 19.3244

Form A-BS(UL)

INDIVIDUAL LIFE - FUNDS INDIVIDUAL PENSION - FUNDS





Form A-BS(UL)

FUND BALANCE SHEET AS AT MARCH 31, 2018

LARGE CAP

EQUITY FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

MULTI CAP

OPPORTUNI

TY FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Sources of Funds

Policyholders' Funds:

Policyholder contribution F-1 963,814 457,923 499,114 401,813 7,511 - 120,196 203 2,202 (3,057) 4,928 2,454,647

Revenue Account 219,341 (66,428) 83,073 42,864 3,935 - 102,921 99,331 9,922 19,576 12,951 527,486

Total 1,183,155 391,495 582,187 444,677 11,446 - 223,117 99,534 12,124 16,519 17,880 2,982,134

Application of Funds

Investments F-2 1,154,188 376,512 571,303 410,468 9,826 - 102,576 12,491 17,183 17,639 2,907,709 2,502,682

Current Assets F-3 30,510 26,042 21,089 44,660 1,632 - 194 220 296 439 575 125,657

Less: Current Liabilities and Provisions F-4 1,543 11,059 10,205 10,451 12 - 12,600 3,262 663 1,103 334 51,232

Net current assets 28,967 14,983 10,884 34,209 1,620 - (12,406) (3,042) (367) (664) 241 74,425

Total 1,183,155 391,495 582,187 444,677 11,446 - 223,117 99,534 12,124 16,519 17,880 2,982,134

`

Net Asset Value (NAV) per Unit: 26.5625 23.1231 24.6503 20.1241 15.6925 - 16.6953 31.6937 22.6197 29.2857 18.4865

(a) Net Asset as per Balance Sheet (Total

Assets less Current Liabilities and Provisions)

(Rs. In '000) 1,183,155 391,495 582,187 444,677 11,446 - 223,117 99,534 12,124 16,519 17,880

(b) Number of Units outstanding 44,542,297.99 16,930,904.38 23,617,839.84 22,096,728.35 729,421.53 - 13,364,085.16 3,140,496.81 535,975.81 564,075.37 967,197.21

(c) NAV per Unit (a)/(b) (Rs.) 26.5625 23.1231 24.6503 20.1241 15.6925 - 16.6953 31.6937 22.6197 29.2857 18.4865


The Schedules referred to above form an integral part of the Fund Balance Sheet.



Form A-RA(UL)




FUND REVENUE ACCOUNT FOR THE YEAR ENDED MAR 31, 2019

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUND

DEBT

FUND

LIQUID

FUND

MULTI CAP

OPPORTUN

ITY FUND

DISCONTI

NUED

POLICY

FUND

PENSION

DYNAMIC

EQUITY

FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUND

Income from investments

Interest income 1,719 23,461 19,240 36,967 1,453 1 17,110 - 688 473 1,205 102,317

Dividend income 18,131 1,857 5,574 - - 31 - 1,481 58 145 - 27,277

Profit on sale of investment 43,730 5,486 13,210 481 - 14 526 8,829 349 1,022 65 73,712

Loss on sale of investment (2,700) (3,146) (5,225) (577) (683) (92) 111 (1,827) (343) (356) (325) (15,163)

Profit on inter fund transfer/ sale of investment - 1,351 566 2,156 - - - - 8 13 - 4,094

loss on inter fund transfer/ sale of investment - (3,081) (1,218) (5,336) - - - - (69) (85) (316) (10,105)

Miscellaneous Income - - - - - - - - - - - -

Unrealised Gain/loss* 129,287 17,042 39,553 7,816 - 1,502 13 3,737 239 494 219 199,901

Total (A) 190,167 42,970 71,700 41,507 770 1,456 17,760 12,220 930 1,706 848 382,032

Fund management expenses 18,322 5,778 8,568 5,625 251 67 1,325 1,362 172 221 192 41,883

Fund administration expenses

Other charges: F5 30,295 9,018 12,061 9,119 379 136 244 547 64 95 87 62,045

Total (B) 48,618 14,796 20,629 14,744 630 203 1,569 1,909 237 316 279 103,928

Net Income for the year (A-B) 141,549 28,174 51,071 26,763 140 1,253 16,192 10,311 693 1,390 569 278,104

Add: Fund revenue account at the beginning of the period 219,341 (66,428) 83,073 42,864 3,935 - 102,921 99,331 9,922 19,576 12,951 527,486

Fund revenue account for the year ended March 31, 2019 360,890 (38,256) 134,144 69,627 4,075 1,253 119,112 109,642 10,615 20,966 13,520 805,590

Total

INDIVIDUAL PENSION - FUNDS


INDIVIDUAL LIFE - FUNDS

Form A-RA(UL)




FUND REVENUE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2018

Total

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUND

DEBT

FUND

LIQUID

FUND

MULTI CAP

OPPORTUN

ITY FUND

DISCONTI

NUED

POLICY

FUND

PENSION

DYNAMIC

EQUITY

FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUND

Income from investments

Interest income 4 19,977 16,254 31,652 787 - 14,142 0 713 548 1,483 85,560

Dividend income 14,041 1,619 4,590 - - - - 1,606 62 160 - 22,078

Profit on sale of investment 83,457 13,743 24,688 3,479 4 - 412 15,843 680 1,775 71 144,152

Loss on sale of investment 1,707 (954) (5,279) (1,942) 1,261 - (1,727) (855) (106) (130) (60) (8,085)

Profit on inter fund transfer/ sale of investment - 105 - 116 - - 0 - 103 139 3 466

loss on inter fund transfer/ sale of investment - - (66) (334) - - (0) - (16) - - (416)

Miscellaneous Income - - - - - - - - - - - -

Unrealised Gain/loss* (13,304) (7,661) (4,211) (8,022) - - 2 (5,162) (572) (1,011) (536) (40,477)

Total (A) 85,905 26,829 35,976 24,949 2,052 - 12,829 11,432 864 1,481 961 203,278

Fund management expenses 13,472 4,977 7,108 4,929 154 - 1,174 1,509 182 247 223 33,975

Fund administration expenses

Other charges: F5 24,504 8,927 12,246 8,856 196 - 319 568 66 100 89 55,871

Total (B) 37,976 13,904 19,354 13,785 350 - 1,493 2,077 248 347 312 89,846

Net Income for the year (A-B) 47,929 12,925 16,622 11,164 1,702 - 11,336 9,355 616 1,134 649 113,432

Add: Fund revenue account at the beginning of the period 171,412 (79,353) 66,451 31,700 2,233 - 91,585 89,976 9,306 18,442 12,303 414,054

Fund revenue account for the year ended March 31, 2018 219,341 (66,428) 83,073 42,864 3,935 - 102,921 99,331 9,922 19,576 12,951 527,486

* Net change in mark to market value of investments

Significant accounting policies and notes to the accounts 16The Schedules referred to above form an integral part of the Fund Revenue Account.






SCHEDULES TO FUND BALANCE SHEET AND FUND REVENUE ACCOUNT

Schedule: F-1

POLICYHOLDERS' CONTRIBUTION FOR THE YEAR ENDED MAR 31 2019

LARGE CAP

EQUITY FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND LIQUID FUND

MULTI CAP

OPPORTUNITY

FUND

DISCONTINUED

POLICY FUND

PENSION

DYNAMIC

EQUITY

FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Opening balance 963,814 457,923 499,114 401,813 7,511 - 120,196 203 2,202 (3,057) 4,928 2,454,648

Add: Additions during the year* 1,100,544 98,423 130,302 773,879 15,715 18,318 183,867 7,089 1,272 1,425 1,880 2,332,714

Less: Deductions during the year* 862,014 69,633 99,268 779,772 5,643 - 106,992 18,771 1,117 5,611 6,793 1,955,615

Closing balance 1,202,344 486,713 530,148 395,920 17,583 18,318 197,071 (11,479) 2,357 (7,243) 15 2,831,747

* Additions represents units creation and deductions represent unit cancellations

Schedule: F-2

INVESTMENTS

LARGE CAP

EQUITY FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND LIQUID FUND

MULTI CAP

OPPORTUNITY

FUND

DISCONTINUED

POLICY FUND

PENSION

DYNAMIC

EQUITY

FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Approved Investments

Government Bonds - 111,074 98,708 261,543 30,203 - 304,233 - 4,300 2,004 7,535 819,599

Corporate Bonds - 88,549 44,068 100,983 - - - - 3,073 - 4,214 240,887

Infrastructure Bonds - 85,808 86,157 58,407 - - - - 1,996 3,303 2,066 237,738

Equity 1,229,432 131,614 379,805 - - 18,240 - 84,573 3,879 8,603 - 1,856,145

Money Market - 2,000 3,300 1,200 - - - - - - - 6,500

Mutual Funds 71,063 6,806 5,305 7,407 (0) (0) 16,414 4,904 (0) 0 801 112,700

Total 1,300,495 425,851 617,343 429,540 30,203 18,240 320,647 89,477 13,248 13,910 14,616 3,273,569

Other Investments

Corporate Bonds - - - - - - - - - - - -

Infrastructure Bonds - 10,079 9,587 21,685 - - - - - - - 41,351

Equity 89,557 9,729 25,289 - - - - 7,127 318 824 - 132,843

Exchange Traded Fund 139,821 - 6,454 - - - - 3,066 - - - 149,341

Money Market (0) - - - - - (0) - - - - (0)

Mutual Funds - - - - - - - - - 0 (0) 0

Total 229,378 19,808 41,330 21,685 - - (0) 10,193 318 824 (0) 323,535

GRAND TOTAL 1,529,873 445,659 658,673 451,225 30,203 18,240 320,647 99,670 13,565 14,734 14,616 3,597,104

% of Approved Investments to Total 85 96 94 95 100 100 100 90 98 94 100.00 91

% of Other Investments to Total 15 4 6 5 - - (0) 10 2 6 (0.00) 9

Particulars

Particulars


PENSION - FUNDS

AS AT MARCH 31, 2019

LIFE - FUNDS

INDIVIDUAL LIFE - FUNDS




SCHEDULES TO FUND BALANCE SHEET AND FUND REVENUE ACCOUNT

Schedule: F-1

POLICYHOLDERS' CONTRIBUTION FOR THE YEAR ENDED MARCH 31, 2018

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

DISCONTINU

ED POLICY

FUND

PENSION

DYNAMIC

EQUITY

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Opening balance 714,450 426,250 410,477 330,856 11,606 156,700 20,075 4,695 545 6,544 2,082,198

Add: Additions during the year* 1,059,824 132,507 224,622 754,570 14,834 198,135 8,980 1,091 1,364 1,540 2,397,466

Less: Deductions during the year* 810,460 100,834 135,985 683,613 18,929 234,638 28,852 3,584 4,966 3,156 2,025,016

Closing balance 963,814 457,923 499,114 401,813 7,511 120,196 203 2,202 (3,057) 4,928 2,454,648

* Additions represents units creation and deductions represent unit cancellations

Schedule: F-2

INVESTMENTS

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

DISCONTINU

ED POLICY

FUND

PENSION

DYNAMIC

EQUITY

FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Approved Investments

Government Bonds - 96,762 72,329 234,797 9,826 233,321 - 3,026 2,059 9,175 661,297

Corporate Bonds - 78,899 49,144 95,542 - - - 2,123 - 3,186 228,893

Infrastructure Bonds - 83,406 92,616 78,929 - - - 3,160 4,341 5,278 267,730

Equity 914,040 99,752 298,829 - - - 84,779 3,349 9,283 - 1,410,031

Money Market - 2,000 3,300 1,200 - - - - - - 6,500

Mutual Funds 53,540 (0) 9,808 (0) (0) 2,202 4,103 302 0 0 69,954

Total 967,580 360,819 526,026 410,468 9,826 235,523 88,882 11,960 15,683 17,639 2,644,404

Other Investments

Corporate Bonds - - - - - - - - - - -

Infrastructure Bonds - - - - - - - - - - -

Equity 141,015 15,693 45,277 - - - 13,694 531 1,500 - 217,710

Exchange Traded Fund 45,593 - - - - - - - - - 45,593

Money Market - - - - - - - - - - -

Mutual Funds - - - - - - - - 0 (0) 0

Total 186,608 15,693 45,277 - - - 13,694 531 1,500 (0) 263,303

GRAND TOTAL 1,154,188 376,512 571,303 410,468 9,826 235,523 102,576 12,491 17,183 17,639 2,907,707

% of Approved Investments to Total 84 96 92 100 100 100 87 96 91 100 91

% of Other Investments to Total 16 4 8 - - - 13 4 9 (0) 9

Particulars


Particulars


LIFE - FUNDS PENSION - FUNDS




Schedule: F - 3CURRENT ASSETS

Fund Name

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

MULTI CAP

OPPORTUNIT

Y FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Accrued Interest (0) 12,385 13,590 28,191 (0) - 0 (0) 207 229 497 55,099

Bank Balance 15,658 674 1,155 648 53 102 193 159 69 55 29 18,794

Dividend Recievable 158 15 43 - - - - 10 - 1 - 227

Receivable for Sale of Investments - - - - - - - - - - - -

Unit Collection A/c 15,753 - - - - 1,251 - - - - - 17,004

Appropriation Adjustment Account - - - - - - - - - - - -

Other Current Assets (for Investments) 3,752 0 1,332 (0) - - - 246 0 37 0 5,367

Total 35,321 13,074 16,120 28,839 53 1,353 193 415 276 322 526 96,491

Fund Name

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

MULTI CAP

OPPORTUNIT

Y FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY

FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Payable for Purchase of Investments 0 0 (0) (0) - - (0) (0) 0 (0) 0 0

Fund Mgmt Charges Payable 1,960 610 894 599 36 23 154 131 18 21 18 4,464

Other Current Liabilities (for Investments) [Seed

Capital](0) 9,666 9,607 13,918 8,562 - 4,502 1,791 851 1,312 1,588 51,797

Total 1,960 10,276 10,501 14,517 8,598 23 4,657 1,922 869 1,333 1,606 56,261

1,960 610 894 599 36 23 154 131 18 21 18

- - - - - - - - - - -

(15,753) 9,666 9,607 13,918 8,562 (1,251) 4,502 1,791 851 1,312 1,588

15,753 (0) 0 0 (0) 1,251 (0) 0 (0) (0) 0

Fund Name

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

MULTI CAP

OPPORTUNIT

Y FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Policy Administration charge 11,178 3,773 4,816 3,203 92 13 2 252 28 46 43 23,446

Surrender charge - - - - - - - - - - - -

Switching charge 80 1 3 91 - - - - - - - 175

Discontinuance Charges 1,076 311 420 268 - - (0) - - - - 2,075

Mortality charge 8,661 2,312 3,199 2,678 72 11 3 - - - - 16,936

Rider Premium charge - - - - - - - - - - - -

Partial withdrawal charge - - - - - - - - - - - -

Goods & Service tax 9,300 2,621 3,623 2,879 215 112 239 295 36 49 44 19,413

Total 30,295 9,018 12,061 9,119 379 136 244 547 64 95 87 62,045


The Schedules referred to above form an integral part of the Fund Accounts

INDIVIDUAL PENSION - FUNDSAS AT MARCH 31, 2019

CURRENT LIABILITIES

Schedule: F - 4

INDIVIDUAL LIFE - FUNDSParticulars

INDIVIDUAL PENSION - FUNDSAS AT MARCH 31, 2019

Schedule: F - 5

ParticularsINDIVIDUAL LIFE - FUNDS

ParticularsINDIVIDUAL LIFE - FUNDS



OTHER EXPENSES

goelm

Text Box

Schedule: F - 5




Schedule: F - 3CURRENT ASSETS

Fund Name

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Accrued Interest (0) 23,784 18,920 40,545 (0) 0 (0) 231 328 483 84,291

Bank Balance 18,553 2,258 2,169 4,115 24 194 220 65 111 92 27,801

Dividend Recievable 0 - - - - - 0 - (0) - 0

Receivable for Sale of Investments - - - - - - - - - - -

Unit Collection A/c 11,957 - - - 1,608 - - - - - 13,565

Appropriation Adjustment Account - - - - - - - - - - -

Other Current Assets (for Investments) (0) 0 (0) (0) - - (0) 0 0 0 (0)

Total 30,510 26,042 21,089 44,660 1,632 194 220 296 439 575 125,657

Fund Name

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY

FUND

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Payable for Purchase of Investments 0 0 (0) (0) - (0) (0) 0 (0) 0 0

Fund Mgmt Charges Payable 1,543 527 783 520 12 118 140 17 24 22 3,706

Other Current Liabilities (for Investments) [Seed

Capital] - 10,532 9,422 9,931 - 12,482 3,122 646 1,079 312 47,526

Total 1,543 11,059 10,205 10,451 12 12,600 3,262 663 1,103 334 51,232

Fund Name

LARGE CAP

EQUITY

FUND

BALANCED

FUND

GROWTH

FUNDDEBT FUND

LIQUID

FUND

DISCONTINUE

D POLICY

FUND

PENSION

DYNAMIC

EQUITY

PENSION

BALANCED

FUND

PENSION

GROWTH

FUND

PENSION

DEBT FUNDTotal

Policy Administration charge 8,909 3,983 4,632 3,369 68 34 258 29 48 42 21,372

Surrender charge - - - - - - - - - - -

Switching charge 70 6 4 73 - 3 - - - - 156

Discontinuance Charges 315 88 167 100 - 19 - - - - 689

Mortality charge 7,191 2,249 3,614 2,622 9 35 - - - - 15,720

Rider Premium charge 34 37 27 9 - - - - - - 107

Partial withdrawal charge - - - - - - - - - - -

Service tax 7,985 2,564 3,802 2,683 119 228 310 37 52 47 17,827

Total 24,504 8,927 12,246 8,856 196 319 568 66 100 89 55,871


The Schedules referred to above form an integral part of the Fund Accounts



Schedule: F - 4

CURRENT LIABILITIES



Schedule: F - 5

Particulars

Particulars

OTHER EXPENSES


INDIVIDUAL LIFE - FUNDS INDIVIDUAL PENSION - FUNDSParticulars

DHFL PRAMERICA LIFE INSURANCE CO. LTD. IRDAI REGISTRATION NO: 140; DATE OF REGISTRATION WITH IRDAI : JUNE 27, 2008

Schedule - 16

Significant Accounting Policies and Notes to Accounts

BACKGROUND:

DHFL Pramerica Life Insurance Company Limited (‘the Company’) was incorporated on June 25, 2007 as a public

limited company under the Companies Act, 1956 to undertake and carry on the business of life insurance and

annuity. The Company has obtained a license from the Insurance Regulatory and Development Authority of

India (‘IRDAI’) dated June 27, 2008 for carrying on life insurance business in India.

The Company’s business spans across individual and group platform and offers a range of non - participating,

participating, health and linked products. These products are distributed by individual agents, corporate agents,

brokers and other intermediaries.

1. Basis of Preparation of Financial Statement

The financial statements are prepared under the historical cost convention on the accrual basis of accounting,

in accordance with the accounting principles and framework prescribed by the Insurance Regulatory and

Development Authority of India (Preparation of Financial Statements and Auditor’s Report of Insurance

Companies) Regulations, 2002, the Accounting Standards specified under Section 133 of the Companies Act,

2013 read with Rule 7 of the Companies (Accounts) Rules, 2014, to the extent applicable and the requirements

of the Insurance Act 1938 as amended by Insurance (Amendment) Act, 2015, Insurance Regulatory and

Development Authority Act, 1999, and various circulars issued there under and the practices prevailing within

the insurance industry in India. The accounting policies have been consistently applied by the Company.

Management Estimates in preparation of Financial Statements

The preparation of the financial statements in conformity with generally accepted accounting principles

requires management to make estimates and assumptions that affect the reported amount of assets, liabilities,

revenues and expenses and disclosure of contingent assets and liabilities. Example of the estimates includes

future obligation under employee benefits plans, useful life of fixed assets and valuation in respect of live

policies. The estimates and assumptions used in the accompanying financial statements are based upon

management’s evaluation of the relevant facts and circumstances as on the date of the financial statements.

Actual results could differ from those estimates. Any revision to accounting estimates is recognized

prospectively.


2. Revenue Recognition

Premium Income

Premium is recognized as income when due.

Premium on lapsed policies is recognized as income in the year in which they are reinstated.

For linked business, premium income is recognized when the associated units are created. Top-up premiums

(i.e. premium paid in excess of annual target premium as per policy contract) are recognized as single

premium income when associated units are created.

Fees and Charges

In case of linked policies, charges recovered from the fund by deduction of units are recognized as income

when associated units are cancelled. Fund Management charges recovered from NAV of ULIP Funds are

accounted for on accrual basis.

Interest and Dividend Income

Interest income on Investments is recognized on accrual basis. Dividend is recognized when the right to

receive dividend is established.

Income from loans

Interest income on loans is accounted for on an accrual basis.

Amortisation of Discount/Premium

Accretion of discount or amortization of premium to the face value in respect of debt securities, for funds

other than linked funds, is recognized over the remaining period to maturity/holding period on straight line

basis.

In case of discounted instruments, the difference between the redemption value and book value is accreted

over the life of the instrument, on straight line basis

Realized Gain/Loss: Shareholders’ Investments and Non-linked Policyholders’ Investments

Realized gains/loss on debt securities is the difference between the sale consideration and the amortized cost,

which is computed on weighted average basis, as on the date of sale. Sale consideration for the purpose of

realized gain/loss is net of brokerage and taxes, if any and excludes interest accrued till transaction settlement

date.


In case of listed equity shares /mutual fund units, the profit/loss on actual sale of investment includes the

accumulated changes in the fair value, previously recognized under "Fair Value Change Account", in Balance

Sheet

Unrealized Gain/Loss : Shareholders’ Investments and Non-linked Policyholders’ Investments

Unrealized gains / losses due to changes in fair value of listed equity shares and mutual fund units are credited

/ debited to the 'Fair Value Change Account' as the case may be in Balance Sheet

Unrealized Gain/Loss: Linked Investments

Unrealized gains and losses are recognized in the respective scheme's Revenue Account.

Realized Gain/Loss: Linked Investments

Realized Gain/Loss on Investments is the difference between the sale consideration and the book value, which

is computed on weighted average basis, as on the date of sale. Sale consideration for the purpose of realized

gain/loss is net of brokerage and taxes, if any and excludes interest accrued, if any, till transaction settlement

date.

3. Reinsurance Premium ceded

Premium ceded is accounted at the time of recognition of the premium income in accordance with the treaty

or in-principle arrangement with the reinsurers.

4. Acquisition Costs

Acquisition costs are those costs that vary with and are primarily related to the acquisition of new and renewal

insurance contracts. The most essential test is the obligatory relationship between costs and the execution of

insurance contracts (i.e. commencement of risk).

Acquisition costs are expenses incurred to solicit and underwrite insurance contract including commission and

are expensed in the year in which they are incurred. Claw back of first year commission paid will be accounted

in the year in which it is recovered.

5. Benefits Paid (including Claims)

Benefits paid consist of the policy benefit amount and specific claim settlement costs, wherever applicable.

Death, Surrender and other claims are recognized as expense when intimated to the Company. Withdrawals

and surrenders under linked policies are accounted in the respective schemes when the associated units are

cancelled /redeemed.


Maturity claims are recognized when due for payment.

An additional provision is made for the benefits which are incurred but not reported to the Company.

Repudiated claims disputed before judicial authorities are provided for based on management prudence

considering the facts and evidences available in respect of such claims.

Reinsurance recoverable, where applicable, is recognized in the same period as of the claim and netted off

against claim expense incurred.

6. Investments

Investments are made in accordance with the Insurance Act, 1938 as amended by Insurance (Amendment)

Act, 2015 and the Insurance Regulatory & Development Authority (Investment) Regulations, 2016 as amended

from time to time, Investments –Master Circular and various other circulars/notifications issued by the IRDAI

in this context from time to time

Investments are recorded at cost on date of purchase, which includes brokerage and statutory levies, however

excludes interest paid (i.e. interest accrued since previous coupon date), if any.

Classification

Investments maturing within twelve months from balance sheet date and investments made with the specific

intention to dispose off within twelve months from balance sheet date shall be classified as short-term

investments. All other Investments are classified as Long Term Investments.

Valuation - Shareholders' Investments and non-linked Policyholders' Investments

Debt securities

Debt securities including Government securities are considered as ‘held to maturity’ and accordingly stated at

cost, subject to accretion/amortization of discount/premium on a straight line basis over the period of

maturity/holding. In case of other instruments like commercial papers, certificate of deposits, CBLO and

Treasury bills, the difference between the redemption value and book value is accreted over the life of assets,

on straight line basis. Investments in Fixed deposits and Reverse repo are carried at cost.

Shares, Exchange Traded Fund (ETFs), Additional Tier I Bonds and Mutual Funds

Listed Shares and ETFs are valued at fair value on the balance sheet date. For the purpose of arriving at the fair

value, the Company has adopted National Stock exchange of India Limited (NSE) as its primary Exchange. In

case where NSE price is not available on a valuation date closing price of BSE (Secondary Exchange) is

considered.


If an equity share is not traded in either of the exchanges, the previous day’s valuations is considered. In case

the ETFs are not traded in either of the exchanges, it is valued at the latest available Net Asset Value (NAV).

Unlisted Shares are valued at historical cost subject to provision for diminution.

Mutual Fund units as at Balance Sheet date are valued at previous day’s net asset value per unit.

Additional tier I bonds are classified as equity and is being valued at market yields obtained from CRISIL.

Investment in units of Venture Fund are valued at latest available Net Asset Value per unit Unrealised gains or

losses arising due to change in fair value are recognized in the Balance sheet under “Fair Value change

account”.

Provision for Non Performing Assets (NPA)

All assets where the interest and/or instalment of principal repayment remain overdue for more than 90 days

at the Balance Sheet date are classified as NPA and provided for in the manner required by the IRDAI

regulations on this behalf.

Impairment of Investments

The Company accesses, on each balance sheet date, occurrence of impairment on listed shares. Any

impairment loss is recognized in the Revenue or Profit & Loss account not exceeding the difference of the fair

value of the security and the weighted average cost. Any reversal of earlier recognized impairment loss is

recognized in Revenue or Profit & Loss account.

Valuation - Linked Investments

Government securities are valued at the rate obtained from CRISIL (Credit Rating Information Services of India

Limited).

Debt securities other than Government Securities are valued on the basis of Bond Valuer (CRISIL).

Listed shares and ETFs are valued at fair value on the balance sheet date. For the purpose of arriving at the fair

value, the Company has adopted National Stock exchange of India Limited (NSE) as its primary Exchange. In

case where NSE price is not available on a valuation date closing price of BSE (Secondary Exchange) is

considered.

Mutual Fund units as at Balance Sheet date are valued at previous day’s net asset value per unit


In case of other instruments like commercial papers, certificate of deposits, CBLO and Treasury bills, the

difference between the redemption value and book value is accreted over the life of the assets, on a straight

line basis and accordingly these instruments are valued at accreted cost. Investment in Fixed deposits and

reverse repo are valued at cost.

Transfer of Investments

Investments in debt securities are transferred from shareholders to policyholders at net amortized cost.

Investments other than debt securities are transferred from shareholders to policyholders at lower of book

value or market value.

Transfer of investments between unit linked funds is affected at market price.

No transfer of Investments is carried out between Non-Linked policyholder’s Funds.

7. Fixed Assets, Depreciation/Amortisation and Impairment of assets

Fixed Assets are stated at cost less accumulated depreciation and impairment, if any. Cost includes acquisition,

installation and other incidental expenses, including freight and taxes incurred to bring the asset to its present

location and working condition for its intended use. Subsequent expenditure incurred on existing fixed assets

is expensed out except where such expenditure increases the future economic benefits from the existing

assets. Any additions to the original fixed assets are depreciated over the remaining useful life of the original

asset.

Cost of assets as at the Balance Sheet date not ready for its intended use as at such date are disclosed as

capital work in progress. Advances given towards acquisition of fixed assets are disclosed in “Advances and

Other Assets” in Balance Sheet.

Intangible assets are stated at cost of acquisition, including any cost attributable for bringing the same to its

working condition for its intended use, less accumulated amortisation and impairment, if any. Expenditure

incurred on major application software and their customisation or further development is recognized as an

intangible asset. Subsequent expenditure incurred on existing assets is expensed out except where such

expenditure increases the future economic benefits from the existing assets, in which case the expenditure is

amortised over the remaining useful life of the original asset.

Any expenditure for support and maintenance of the computer software is charged to the Revenue Account.

Depreciation/amortisation on assets is charged on straight-line method over their economic useful lives as

estimated by the Management.


Depreciation/amortisation is provided for the full month in the month of acquisition of the related asset. No

depreciation/amortisation is provided in the month of sale/disposal of asset.

On the basis of technical assessment, useful lives of the respective assets are as below:

Assets individually costing upto Rs 5,000 (rupees five thousand) are fully depreciated in the year of acquisition.

Depreciation and amortization methods, useful lives and residual values are reviewed periodically, including at

each financial year end.

Impairment of assets

The Company periodically assesses, using internal and external sources of information and indicators, whether

there is any indication of impairment of asset. If any such indication of impairment exists, the recoverable

amount of such assets is estimated. An impairment loss is recognised where the carrying value of these assets

exceeds its recoverable amount. The recoverable amount is the higher of the asset’s net selling price and their

value in use, which is the present value of the future cash flows expected to arise from the continuing use of

asset and its ultimate disposal. When there is an indication that an impairment loss recognised for an asset in

earlier accounting periods is no longer necessary or may have decreased, such reversal of impairment loss is

recognised.

8. Liability for Life Policies

The estimated liability for life policies is determined by the Insurer's appointed actuary, pursuant to his annual

investigation of life insurance business, using appropriate methods and assumptions that conform with

regulations issued by the IRDAI and Guidance notes issued by the Institute of Actuaries of India. The liability is

Assets Useful life (Years)

Leasehold Improvements Over the period of lease

Office Equipment 5 years

Furniture and Fixtures 10 years

Information Technology Equipment

3 years

Servers and Networks (including embedded software)

6 years

Software 3 years


so calculated that together with future premium payments and investment income, the Insurer meets all future

claims (including bonus entitlements to policyholders, if applicable,) and expenses.

Liabilities, if any, as determined by appointed actuary, in respect of Linked policies which have lapsed are

maintained till the expiry of the revival period and shown under funds for future appropriation.

Liabilities under linked policies comprise of fund value and non unit liability for meeting mortality and

morbidity risk, which is based on actuarial valuation done by appointed actuary.

9. Employees' Benefits

Short term employee benefits

All employee benefits payable within twelve months of rendering the service are classified as short term employee benefits. Benefits such as salaries and bonuses, short term compensated absences, premium for staff medical insurance, premium for Employee Group Term Insurance Scheme, Employee State Insurance Corporation Scheme, Employee Deposit Linked Insurance Scheme and Employee Labour Welfare Fund Scheme are accounted for in the period in which the employee renders the related service. All short term employee benefits are accounted for on an undiscounted basis.

Post-employment benefits

The Company has both defined contribution and defined benefit plans. i. Defined contribution plans: Employee Provident Fund Scheme (Company contribution) and the National

Pension Scheme (Company contribution) are the defined contribution plans. The contributions paid/payable under the plan are made when due and charged to the Revenue Account on an undiscounted basis during the period in which the employee renders the related service. The Company does not have any further obligation beyond the contributions made to the funds.

ii. Defined benefit plans: The Gratuity plan of the Company is the defined benefit plan, which is a funded plan. The gratuity benefit payable to the employees of the Company is in compliance with the provisions of "The Payment of Gratuity Act, 1972”. The present value of the obligations under such defined benefit plan is determined on the basis of actuarial valuation using the projected unit credit method, which considers each period of service as giving rise to an additional unit of benefit entitlement and measures each unit separately to build up the final obligation. The discount rate used for actuarial valuation is based on the yield of Government Securities. The Company contributes the net ascertained liabilities under the plan to the DHFL Pramerica Life Insurance Company Limited Employees Group Gratuity Plan. The Company recognises the net defined benefit obligation of the gratuity plan, taking into consideration the defined benefit obligation using actuarial valuation and the fair value of plan assets at the Balance Sheet date, in accordance with Accounting Standard (AS) 15 (Revised), ‘Employee Benefits’. Actuarial gains or losses, if any, due to experience adjustments and the effects


of changes in actuarial assumptions are accounted for in the Revenue Account, in the period in which they arise.

Other long term employee benefits

Other long term employee benefits include accumulated long term compensated absences and long term incentive plans.

Accumulated long term compensated absences are entitled to be carried forward for future encashment or availment, at the option of the employee subject to Company’s policies and are accounted for based on actuarial valuation determined using the projected unit credit method.

Long term incentive plans are subject to fulfilment of criteria prescribed by the Company and are accounted for at the present value of future expected benefits payable using an appropriate discount rate.

Actuarial gains or losses, if any, due to experience adjustments and the effects of changes in actuarial assumptions are accounted for in the Revenue Account, as the case may be, in the period in which they arise.

10. Foreign Exchange Transactions

Transactions in foreign currency are recorded at the rates of exchange prevailing on the date of transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at year end rates. The

difference in translation of monetary assets and liabilities and realized gains and losses on foreign exchange

transactions, are recognized in the Revenue Account and Profit and Loss Account, as applicable.

11. Allocation of Expenses

Expenses are allocated and/or apportioned into the various business segments in policyholders account and

shareholders account in accordance with board approved policy on allocation of expenses of management

pursuant to IRDAI (Expenses of Management of Insurers transacting Life Insurance business) Regulations,

2016.

Operating expenses relating to insurance business are assigned to specific business segments as follows:

Expenses directly identifiable to the business segments are allocated on an actual basis.

Other expenses, which are not directly identifiable, are apportioned to the business segment by adopting one

or more of the following basis or a combination thereof, which is considered as most appropriate:

- Annualized Premium Equivalent (10% Weightage for Group Premium Policies),


- Premium for the period recognized in the financial statements (one tenth for single premium or group

policies),

- Regulatory allowable computed in accordance with IRDAI guidelines,

- New business premium for the period

- Renewal Premium,

- First year commission,

- Number of In-Force Policies,

- Number of Policies-New Business,

- Annualized Premium Equivalent excluding Group Policies

- First year commission excluding group policies.

- Number of Members in case of GCL business.

Weightages are provided for computing the expense drivers.

In case of expenses which have been allocated using the number of ‘policies’ driver, a minimum 1% of the

expense is allocated to each Line of Business irrespective of actual share of the Line of Business.

Contribution to Policyholders’ Account (Technical Account)

Contribution to Policyholders’ Account (Technical Account) is made as decided by the Board of Directors. The

contributions made by the shareholders to the Policyholders' Account are irreversible in nature, and shall not

be recouped to the shareholders at any point of time in future.

12. Taxation

Income Tax & Wealth Tax

Provision for current income tax, wealth tax , if any, is made on accrual basis after considering relevant credit

allowances, exemptions and valuation rules as determined under the Income Tax Act, 1961. The difference

that results between the taxable profit and the profit as per financial statements are identified and thereafter

deferred tax assets or deferred tax liabilities are recorded as timing differences that originate in one

accounting period and reverse in another, based on the tax effect of aggregate amount. The tax effect is

calculated on the accumulated timing differences at the end of an accounting period based on prevailing

enacted regulations. Deferred Tax Assets are recognized only to the extent there is a virtual certainty of


realization in future. However, where there is unabsorbed depreciation or carried forward loss under relevant

taxation laws, deferred tax assets are recognized only if there is a virtual certainty of realization of such assets.

Deferred Tax Assets are revalued at each Balance Sheet date and written up/down to reflect the amount that

is reasonably/virtually certain (as the case may be) to be realized.

Goods & Services Tax

Goods & Services Tax liability on risk premium and charges is set off against the Goods & Services Tax credits

available from Goods & Services Tax paid on input services. Unutilized credits are carried forward for future

set off in subsequent period.

13. Accounting for Leases

Operating Lease

Lease of assets under which all the risks and benefits of ownership are effectively retained by the lessor are

classified as operating leases. Operating lease rentals are recognized in the revenue account and profit and

loss account, as the case may be, on a straight line basis over the period of the lease.

Sale and Leaseback Transactions

Profit or loss arising out Sale and Leaseback transactions that result in operating lease are recognized

immediately in Revenue Account.

14. Borrowings

Loans are stated at historical cost, subject to provision for impairment, if any.

15. Provisions and Contingencies

The Company creates a provision for litigation, assessment, fines, penalties, claims (other than insurance

claims), etc when there is present obligation as a result of a past event that probably requires an outflow of

resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent

liability is made when there is a possible obligation or a present obligation that may, but probably will not,

require an outflow of resources. When there is a possible obligation or a present obligation in respect of which

the likelihood of outflow of resources is remote, no provision or disclosure is made. However, contingent

assets are not recognized on prudent basis.

16. Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity

shareholders by the weighted average number of equity shares outstanding during the period. For the


purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity

shareholders and the weighted average number of Equity Shares outstanding during the period are adjusted

for the effects of all dilutive potential equity shares.

17. Loans against Policies Loans against policies are valued at the aggregate of book values (net of repayments) plus capitalized interest

and are subject to provision for impairment and Non Performing Assets (NPA), if any. Norms laid down under

circular No. 32/2/F&A/circular/169/Jan/2006-07 issued by the IRDAI are adhered to in this regard.

18. Cash & cash equivalents

Cash & cash equivalents for the purpose of Receipts and Payments Account comprise of cash and cheques in

hand & bank balance and Stamps in hand. Receipts and Payments account is prepared and reported using

the Direct Method in accordance with Accounting Standard (AS) 3, “Cash Flow Statements” as per

requirements of para 2.2 of Master Circular.

19. Unclaimed amount of policyholders

Assets held for unclaimed amount of policyholders is created and maintained in accordance with the requirement of IRDAI circular No. IRDA/F&A/CIR/ GLD/195/08/124 dated August 14, 2014, IRDA/F&A/CIR/CPM/134/07/2015 dated July 24, 2015, IRDA/F&A/CIR/CLD/114/05/2015 dated May 28, 2015, Master circular on Unclaimed Amount of policyholders IRDA/F&A/CIR/Misc/173/07/2017 dated July 25, 2017 and Investment Regulations, 2016 as amended from time to time:

a. Unclaimed amount of policyholders is invested in money market instruments, Liquid mutual funds and / or fixed deposits of scheduled banks which is valued at historical cost, subject to amortisation of premium or accretion of discount over the period of maturity/ holding on a straight line basis.

b. Income on unclaimed amount of policyholders is accreted to respective unclaimed fund and is accounted

for on an accrual basis, net of fund management charges.

c. Unclaimed amount of policyholders liability is determined on the basis of NAV of the units outstanding as at the valuation date.

d. Amounts remaining unclaimed for a period of 10 years together with all respective accretions to the fund

as per the above mentioned regulations are deposited into the Senior Citizen Welfare Fund (SCWF).

20. Funds for Future Appropriations

The Funds for Future Appropriations (FFA), in the participating segment, represents the surplus, which is not allocated to policyholders or shareholders as at the Balance Sheet date. Transfers to and from the fund


reflect the excess or deficit of income over expenses respectively and appropriations in each accounting period arising in the Company’s Policyholders’ Fund. Any allocation to the par policyholders would also give rise to a transfer to Shareholders’ Profit and Loss Account in the required proportion.

21. Employee stock option scheme

Cash settled scheme

Liability for the company’s Employee Stock Appreciation Rights (SAR), granted pursuant to the Company’s

Employee Stock Appreciation Rights Plan, 2018, shall be measured, initially and at the end of each reporting

period until settled, at the fair value of the SARs, by applying an option pricing model, be and is recognized

as ‘Employees remuneration and welfare benefits’ expense over the relevant service period. The liability is

presented as employee benefit obligation in the balance sheet.



(All Amounts in Thousands of Indian Rupees, unless otherwise stated)

Schedule - 16

II NOTES TO ACCOUNTS

(a) Contingencies

Particulars March-19 March-18

949 -

- -

1,557 3,594

- -

105,115 40,316

- -

Statutory Bonus (retrospective amendment stayed by Karnatka and Kerala High Courts) 8,115 8,115

Others – Insurance claims in appeal net of provision 113,550 69,972

(b) Actuarial assumptions

(i)

Mar-19 Mar-18 Mar-19 Mar-18

i) Life Participating Business 6.00% 6.00% Not Applicable Not Applicable

ii) Life- Non-participating Policies 6.00% 6.00% 6.10% 6.10%

iii) Annuities- Participating policies Not Applicable Not Applicable Not Applicable Not Applicable

iv) Annuities - Non-participating policies Not Applicable Not Applicable Not Applicable Not Applicable

v) Annuities- Individual Pension Plan Not Applicable Not Applicable Not Applicable Not Applicable

vi) Unit Linked 6.00% 6.00% Not Applicable Not Applicable

vii) Health Insurance 6.00% 6.00% Not Applicable Not Applicable* excludes one year group term business as it is valued using UPR.

(ii) Mortality Rates (including Margin of Adverse Deviation)

(As % of IALM 06-08)


1 103.5% - 230% 109.25% -230% Not Applicable Not Applicable




5+ 103.50% -115% 103.50% -115% Not Applicable Not Applicable

1 86.25% - 161% 80.75%-155.25% Not Applicable Not Applicable

2 86.25% - 161% 80.75%-155.25% Not Applicable Not Applicable

3 92% - 143.75% 72.25%-149.50% Not Applicable Not Applicable

4 92% - 143.75% 72.25%-149.50% Not Applicable Not Applicable

5+ 92% - 143.75% 72.25%-149.50% Not Applicable Not Applicable

1 23.55%-230% 23.55%-230% 57.50%-213% 57.50%-259%

2 23.55%-230% 23.55%-230% 57.50%-213% 57.50%-259%

3 23.55%-126.5% 23.55%-126.5% 57.50%-213% 57.50%-259%

4 23.55%-126.5% 23.55%-126.5% 57.50%-213% 57.50%-259%

5+ 23.55%-126.5% 23.55%-126.5% 57.50%-213% 57.50%-259%

iv) Annuities- Participating policies Not Applicable Not Applicable Not Applicable Not Applicable

v) Annuities - Non-participating policies Not Applicable Not Applicable Not Applicable Not Applicable

vi) Annuities- Individual Pension Plan Not Applicable Not Applicable Not Applicable Not Applicable

1 72.00%- 195.50% 76.50%- 195.50% Not Applicable Not Applicable




5+ 72.00%- 161.00% 76.50%- 195.50% Not Applicable Not Applicable

* excludes one year group term business as it is valued using UPR.

(iii)

The morbidity rates are based on best estimate assumptions with 15% margin of adverse deviation.

(iv)

Statutory demands/ liabilities in dispute, not provided for*

Reinsurance obligations to the extent not provided for in accounts

Other-

Interest Rate (including Margin of Adverse Deviation) :

The insurer's Appointed Actuary has determined valuation assumptions that conform to the regulations issued by the IRDAI and Actuarial Practice

Standards issued by the Institute of Actuaries of India. Details of assumptions are given below:

[Gross Value of Litigated Claims Rs. 159,349 (previous year Rs. 104,028), out of which reinsured claims Rs.

15,783 (previous year Rs. 11,047) and Provision held Rs. 30,016 (previous year Rs. 23,009)]

*Statutory demands and liabilities in dispute, not provided for, relate to the show cause cum demand notices/assessment orders received by the

Company from the respective tax authorities. The Company has filed appeals against the demand notices/assessment orders with the appellate

authorities and has been advised by the experts that the grounds of appeal are well supported in law in view of which the Company does not expect any

liability to arise in this regard.

SCHEDULES ANNEXED TO AND FORMING PART OF FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2019

Partly paid-up investment

Underwriting commitments outstanding (in respect of shares and securities)

Claims, other than against policies, not acknowledged as debts by the Insurer

Guarantees given by or on behalf of the Insurer

Commissions allowed in the valuation are as per the actual rates.

Individual Business Group BusinessParticulars

Individual Business Group BusinessPolicy DurationLine of Business

i) Life Participating Business

ii) Life Non-Participating Policies-Savings

vii) Unit Linked

Commission:

Morbidity Rates (including Margin of Adverse Deviation)

iiii) Life- Non-participating Policies- Protection (Term)





(v)


13th Month 11.25% 15.00% Not Applicable Not Applicable




61st Month 2.50% 2.50% Not Applicable Not Applicable

13th Month 5.00% - 12.50% 5.00% - 12.50% Not Applicable Not Applicable




61st Month 2.50% - 3.75% 2.50% - 5.00% Not Applicable Not Applicable




49th Month 2.50%-5.00% 2.50%-5.00% Not Applicable Not Applicable

61st Month 2.50% - 3.75% 2.50%-5.00% Not Applicable Not Applicable

iv) Annuities- Participating policies Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable

v) Annuities - Non-participating policies Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable

vi) Annuities- Individual Pension Plan Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable





61st Month 5.00% - 37.50% 5.00% - 37.50% Not Applicable Not Applicable

13th Month 0%-2.50% 0%-2.50% 0%-3.00% 0%-3.00%

25th Month 0%-2.50% 0%-2.50% 0%-12.00% 0%-12.00%

37th Month 0%-2.50% 0%-2.50% 0%-12.00% 0%-12.00%

49th Month 0%-17.50% 0%-17.50% 0%-12.00% 0%-12.00%

61st Month 0%-75.00% 0%-75.00% 0%-12.00% 0%-12.00%

13th Month 5.00%-12.5% 12.50% Not Applicable Not Applicable


ix) Health Insurance 37th Month 5.00% 5.00% Not Applicable Not Applicable


61st Month 2.50% 2.50% Not Applicable Not Applicable

(vi)

(vii) Bonus Rates

(viii) Reasonable Expectation

(ix) Taxation and Shareholder Transfers

(x)

Free-look Rates 31-Mar-19 31-Mar-18Line of Business Range of Rates Single RateIndividual 0.5%-5.0% 5.00%Group 0.5%-5.0% 0.62% - 7.00%

(xi)

(xii) Change in Valuation Methods or Bases

(xiii) Actuarial Valuation Method

The tax rate assumed for valuation is 14.56% (Previous Year 14.56%) and shareholders share is taken to be 1/9th of cost of bonus i.e. 10% of distributed surplus.

For yearly renewable group product, reserve held is equal to the unearned premium. For other Group business (including Credit Life), the reserve has been determined using

gross premium method.

Free-look cancellations

Basis of provisions for Incurred but Not Reported (IBNR)

For Non Linked Individual Business, actuarial liabilities have been determined using the gross premium valuation method.

Provisions are made for the additional payments that are required to be made in the event of cancellations during the free-look period. Different free-look rates have been

applied basis the duration since issuance.

Company has used Basic Chain-Ladder Method using run-off triangle approach to estimate provision for IBNR for individual. IBNR for Group business has been estimated as the

cost of Expected death outgo for duration of expected delay less the Actual claims reported.

For Group Traditional Employee Benefit Plan, the scheme account value is kept as reserve. In addition, UPR is kept in respect of death benefit.

Additional reserves are held for maintenance expense overrun, closure to new business one year after valuation date scenario, Extra mortality risk, Free look Cancellation, Lapse

policies that can be reinstated, paid up policies that can be revived, data inaccuracy, IBNR, Claim in payment , resilience reserves, cost of guarantee and Early Surrender Value

Reserves.

For traditional critical illness rider and traditional accidental death benefit rider, reserves have been held as the higher of gross premium reserve and unearned premium reserve.

There has been no change in the valuation methods. However, valuation basis have been updated.

Reserves in respect of Unit- Linked product consists of two components- Unit Reserve and Non- Unit reserve. Unit Reserve for all the unit-linked products is the number of units

in each of the funds multiplied by their published unit price as at the valuation date. Non-unit reserves held by the Company, in respect of linked business, are higher of

reserves using the discounted cash flows method and UPR in respect of monthly risk charges at product level.

Best estimate per policy maintenance expenses, claim expenses and investment expenses assumptions have been based on projected expenses when Insurer acquires a stable

level of business. The best estimate assumptions are further increased by a MAD of 10% of best estimate. An assumption of 5.0% p.a. for expense inflation was used for

projecting future expenses. Additional expense provisions have also been set up to adequately cover maintenance expense overrun.

The future reversionary bonus rates assumed vary from 0.95% to 2.85% (Previous Year 0.95% to 2.85%) of sum assured and previously accrued reversionary bonuses. Future

final bonuses assumed vary with duration and attaching reversionary bonus.

Provision has been made for future reversionary bonuses and final bonus consistent with the assumed valuation interest rate, benefit illustration, sales literature, terms and

conditions in policy document and practices followed by other insurers in the industry.

Lapses (including Margin of Adverse Deviation):

Expenses and Expense Inflation

Line of Business DurationIndividual Business Group Business*

*Group Business is single premium and includes Group Credit Life, Group Term Care & Sampoorna Suraksha.

i) Life Participating Business

ii) Life Non-Participating Policies - Savings

vii) Unit Linked

viii) Single Premium-Individual (Life Non-Par/Linked/Health)

iii) Life- Non-participating Policies-Protection (Term)





(c) Restructured Assets

There are no assets subjected to restructuring during the financial year.

(d) Encumbrances

(e) Commitments made and outstanding for Loans, Investments and Fixed Assets

(f) Taxation

Deferred Tax Asset on :

Carry Forward of Unabsorbed Tax Losses (127,285)

Deferred Tax Asset on :

Carry Forward of Unabsorbed Tax Losses (156,476)

(g) Investments and classification

The Company does not have any investment in properties.

(h) Value of unsettled contracts relating to investments

Value of contracts in relation to investments, for: March-19 March-18

(a) Purchases where deliveries are pending Nil Nil

(b) Sales where payments are overdue Nil Nil

(i) Managerial Remuneration

Managerial remuneration details are as below:


Salary & Allowances 114,896 59,932

Contribution to Provident Fund 1,882 1,680

Value of Perquisites - 1,155

Total 116,778 62,767

Note :

(j) Percentage of Business sector-wisePercentage of policies written business sector - wise is as below:

Policy Nos. First year Premium

Income

No of Lives

CoveredPolicy Nos.

First year Premium

Income

No of Lives

CoveredTotal Business 74,210 12,210,620 20,067,657 93,420 14,556,809 18,228,065

Rural Sector 22,543 944,004 22,374 30,315 895,983 30,090

As % of Total Business 30.38% 7.73% 0.11% 32.45% 6.16% 0.17%

Social Sector 671 3,818,897 18,044,063 760 2,891,216 14,351,419

As % of Total Business 0.90% 31.28% 89.92% 0.81% 19.86% 78.73%

(k) Percentage of risk-retained and risk-reinsured

The extent of risk retained and reinsured is given below :

Sum Assured Percentage Sum Assured Percentage

Individual Business :

Risk retained 149,857,656 83.02% 121,026,352 81.32%

Risk reinsured 30,657,923 16.98% 27,807,037 18.68%

Group Business :

Risk retained 847,955,118 56.83% 685,894,510 55.02%

Risk reinsured 644,180,576 43.17% 560,681,657 44.98%

(l) Operating lease commitments

These are generally in the nature of operating leases / leave and licenses.

In accordance with Accounting Standard(AS) 19 on leases , the details of leasing arrangements entered into by the Company are as under:

The Company has not entered into any transaction in the nature of sub leases.

Lease obligations for non-cancellable lease March-19 March-18

Not later than one year 78,913 73,312

Later than one year and not later than five years 241,650 223,348 Later than five years 27,481 12,041

Lease rentals paid during the year March-19 March-18Rental expense during the year 174,989 138,864

(m) Claims outstanding

(n) Contributions from Shareholders' Fund to Policyholders' Funds

(o) Policyholders' Bonus

The Company has entered into agreements in the nature of cancellable and non-cancellable lease / leave and license agreements with different lessors / licensors for the

purpose of establishment of office premises, information technology, furniture fixture and fitouts and office equipments.

Particulars

March-19 March-18

March-18

The tax impact for the purpose has been arrived at by applying a tax rate of 13% (Previous Year 12.875%) being the substantively enacted tax rate for Indian Life Insurance

Copmpanies under the Income tax Act, 1961.

(ii) The above remuneration is in accordance with the requirements of Section 34A of the Insurance Act, 1938 and as approved by IRDAI.The remuneration amounting to Rs.

101,778 (Previous Year Rs 47,767) in excess of the limit laid down by the Authority has been debited to the Shareholders' Account as directed by the Authority.

All investments are made in accordance with the provisions of the Insurance Act, 1938 and the IRDAI (Investment) Regulations, 2016 as amended from time to time,

Investments - Master circular and are performing in nature. In view of the National Company Law Appellate Tribunal (NCLAT) order in matter related to Infrastructure Leasing

& Financial Services (IL&FS), the Company has considered it's investment in the Debentures of Infrastructure Leasing & Financial Services (IL&FS) as performing assets as at

March 31, 2019.

367,921

(iv) Stock appreciation rigths and bonus included above in the managerial remuneration is subject to IRDAI approval.

There are no assets required to be deposited by the Company under any local laws or otherwise encumbered in or outside India.The assets of the Insurer are free from all

encumbrances.

Estimated amount of contracts remaining to be executed on fixed assets (net of capital advances) is Rs. 28,833 (Previous Year Rs. 48,945) Commitments made and outstanding

for investments and loans is Rs. Nil ( Previous Year : Nil).

The Company carries the business of Life Insurance, therefore the provisions of section 44 and the first schedule of Income tax Act 1961, are applicable for computation of

profit and gains of business. No provision for tax has been made in the Financial Statements, since the Company does not have any taxable income for the current financial year

after setting off brought forward loss.

Deferred Tax Assets(Liabilty) as on

March 31st, 2018Particulars

The deferred tax position and the movement for the year ended March 31st, 2019 is summarised below:

For the current financial year the Company has transferred Rs. 125,705 (Previous Year Rs. 216,379) from the Shareholder’s Account (Non-technical Account) to the

Policyholder’s Account (Technical Account)

Deferred Tax Assets/(Liability) as on

March 31, 2018

524,397 367,921

Contributions made by the shareholders to the Policyholders‟ A/c are irreversible in nature, and shall not be recouped to the shareholders at any point of time in future.

Approval of the Shareholders have been obtained in General Meeting held on 26 April 2019.

(iii) All Perquisites have been computed in accordance with Income Tax Act, 1961.

The Bonus to Participating Policyholders for Current Year as recommended by Appointed Actuary has been included in Change in Valuation against policies in force.

Deferred Tax

(Charge)/Credit

Deferred Tax Assets/(Liability) as on

March 31, 2019

The Company has no claims (Previous Year-Rs Nil) forming part of Claims Outstanding (includes pending investigation), which is settled and unpaid, outstanding for more than

six months as at the balance sheet date.

The Company had leased office premises under various agreements with various expiration dates extending upto 9 years. Lease payments made under operating lease

agreements have been fully recognised in the books of accounts.

240,636

(i) The above figures do not include provision for gratuity and leave encashment as the same is determined for the Company as a whole.

The investments are effected from the respective funds of the policyholders and shareholders and income thereon has been accounted accordingly.

ParticularsMarch-19

The deferred tax position and the movement for the year ended March 31st, 2018 is summarised below:

ParticularsDeferred Tax Assets(Liabilty) as on

March 31st, 2017

Deferred Tax

(Charge)/Credit



SCHEDULES ANNEXED TO AND FORMING PART OF FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2019(All Amounts in Thousands of Indian Rupees, unless otherwise stated)

(p) (i) Segmental Reporting

1. Business Segments

2. Geographical Segments

Since the business operation of the Insurer is in India only, the same is considered as single geographical segment.

3. Segmental Assets and Liabilities

4. Segmental Revenues and Expenses

The segmental report for the year ended March 31, 2019 is given below :

Participating


Health

Individual

Health

Group

Variable

Individual

Life

Individual

Linked

Individual

Pension

Segmental Shareholders' /

Policyholders' account

Revenue

Premium earned - net 7,059,172 7,598,423 49,779 8,283 187,866 1,306,396 694,024 9,752 - 16,913,695

Income from Investments 942,932 1,183,721 1,864 2,936 4,052 197,971 369,975 16,066 594,155 3,313,672

Other Income 7,329 - - 3 - 3,463 - - - 10,795

Appropriation Adjustment - - - - - - - - - -

Unallocated Revenue - - - - - - - - - - Contribution from Shareholders

Account - - - - 1,872 - 123,833 - (125,705) -

Transfer from Policyholder (379,362) (2,696,217) (34,859) (686) - (11,378) - (555) 3,123,057 -

Total Revenue (net) 7,630,071 6,085,927 16,784 10,536 193,790 1,496,452 1,187,832 25,263 3,591,507 20,238,162

Commission 448,196 280,309 1,213 689 - 72,195 10,913 - - 813,515 Operating Expenses incl. Provision for

doubtful debts 2,178,727 1,208,160 8,157 3,266 964 304,132 196,835 815 2,526,883 6,427,939

Service Tax Expense - - - - - - 19,077 424 - 19,501

Benefits Paid (Net) 382,310 2,359,238 268 4,207 - 142,607 297,481 33,043 - 3,219,154

Interim Bonus - - - - - 250 - - - 250

Appropriation Adjustment Change in valuation of liability against

life policies in force (Net) 4,593,088 2,225,817 7,146 2,374 192,826 935,539 663,526 (9,019) - 8,611,297

Net Contribution to policyholders fund - - - - 1,872 - 123,833 - - 125,705

Provisions (other than taxation) for

diminution in the value of investments(

Net)

27,750 12,403 - - - - - - 85,512 125,665

Contribution to Policyholders Account - - - - - - - - - -

Segment Operating Results - - - - - 41,729 - - 979,112 1,020,841

Contribution to Policyholders Account -

Deferred Tax Credit / (Charge) (127,285) (127,285)

Net Operating Profit/(Loss) - - - - - 41,729 - - 851,827 893,556

Segmental Balance Sheet

Segment assets

Investments 13,399,078 14,875,746 45,123 35,494 188,355 2,893,306 3,534,195 141,974 7,921,706 43,034,977

Loans 193,360 - - - - - - - 193,360

Outstanding Premium 462,685 - - 309 - 75,194 - - - 538,188 Seed Capital Contribution towards Unit

Linked Funds - - - - - - - - 51,797 51,797

Receivable towards non- par non linked

funds - 803 803

Income Accrued on Investments 346,883 480,508 940 300 3,605 83,529 1,276 655 139,733 1,057,429

Total Segment Assets 14,402,006 15,356,254 46,063 36,103 192,763 3,052,029 3,535,470 142,629 8,113,236 44,876,554

Unallocated Assets

Net Fixed Assets - - - - - - - - - 516,451 Deferred Tax Asset - - - - - - - - - 240,636 Cash and Bank Balances - - - - - - - - - 649,956 Advances and Other Assets - - - - - - - - - 1,834,687 Deficit In The Revenue Account

(Policyholders' Account) -

Debit Balance In Profit And Loss

Account (Shareholders’ Account) - - - - - - - - 1,628,700 1,628,700

Total Assets 49,746,984

Segment Liabilities

Policy Liabilities 13,654,336 15,252,197 15,895 27,018 192,827 2,851,360 3,519,016 139,770 - 35,652,419

Fair Value Change Account 1,305 2,706 - - 0 409 0 - (650,734) (646,314)

Premium Received in Advance 16,818 - - 14 - 2,753 2,110 8 - 21,702

Due to unit linked fund - - - - - - - - 17,006 17,006

Due to Non- par non linked funds - - - - 803 - - - - 803

Funds For Future Appropriations - - - - - 41,729 - - - 41,729

-

Total Segment Liabilities 13,672,459 15,254,903 15,895 27,032 193,630 2,896,251 3,521,126 139,778 (633,728) 35,087,346

Segment Reserves - - - - - - - - - -

Reserves and Surplus - - - - - - - - - 8,329,217

Equity Capital - - - - - - - - - 3,740,619

Unallocated Liabilities

Current Liabilities - - - - - - - - - 2,433,902

Provisions - - - - - - - - - 155,900

Total Liabilities 49,746,984

Particulars Total

Linked Policies

Shareholders'

Funds

The Company's business is organised on a national basis and having following segments : Non-participating Individual Life , Non-Participating Group Life , Group Health, Individual Health, Participating Individual Life, Unit

Linked Individual life and Units Linked Individual Pension Businesses. Non-participating businesses include policies with committed cash flows, with no rights to the surplus in the business. Investment of shareholder funds

constitute investible funds relating to shareholders. Accordingly, the Insurer has provided primary segment information for these segments as per the Accounting Standard (AS) 17 on ' Segment Reporting', read with the

relevant IRDA Regulations.

Segment assets and liabilities include those, which are employed by a segment in its operating activity. Other common assets and liabilities are allocated to the segment on a pre-determined basis. Assets and liabilities

that cannot be allocated to all segments on a reasonable basis have been disclosed as unallocated assets / liabilities.

The accounting principles used in presentation of financial statements are also applied to record revenue and expenditure in individual segments. All segment revenue are directly attributed to individual segments. Other

expenses, which are reasonably attributable, are apportioned to the business segment as per accounting policy of the Company There are no inter segment revenues. Income and expenses that cannot be allocated to the

segments on a reasonable basis are disclosed as unallocated Income/expense.

Non-Participating Policies

(Non-Linked)



SCHEDULES ANNEXED TO AND FORMING PART OF FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2019(All Amounts in Thousands of Indian Rupees, unless otherwise stated)

(p) (i) Segmental Reporting

1. Business Segments

2. Geographical Segments

Since the business operation of the Insurer is in India only, the same is considered as single geographical segment.

3. Segmental Assets and Liabilities

4. Segmental Revenues and Expenses

The segmental report for the year ended March 31, 2018 is given below :

Participating


Health

Individual

Health

Individual

Life

Individual

Linked

Individual

Pension

Segmental Shareholders' /

Policyholders' account

Revenue

Premium earned - net 5,457,386 9,904,499 15,205 27,791 1,149,591 890,934 12,314 - 17,457,720

Income from Investments 613,241 866,918 923 1,188 127,054 192,232 15,057 680,461 2,497,074

Other Income 2,835 - - 3 246 24 - - 3,108

Appropriation Adjustment - - - - - - - - -

Unallocated Revenue - - - - - - - - - Contribution from Shareholders

Account 21,996 - - 2,026 17,683 174,674 - (216,379) -

Transfer from Policyholder - (3,442,609) (5,673) - - - (2,848) 3,451,131 -

Total Revenue (net) 6,095,458 7,328,808 10,455 31,008 1,294,574 1,257,864 24,523 3,915,213 19,957,902

Commission 401,458 214,926 277 1,238 74,094 14,604 - - 706,597 Operating Expenses incl. Provision for

doubtful debts 2,498,229 1,262,812 2,941 5,219 483,787 248,300 542 2,699,858 7,201,688

Service Tax Expense - - - - - 17,004 403 - 17,407

Benefits Paid (Net) 318,475 1,599,737 123 1,804 107,843 475,933 39,443 - 2,543,358

Interim Bonus - - - - 225 - - - 225

Appropriation Adjustment Change in valuation of liability against

life policies in force (Net) 2,877,296 4,251,333 7,114 22,747 628,625 502,023 (15,865) - 8,273,273

Contribution to Policyholders Account - - - - - - - -

Segment Operating Results - - - - - - - 1,215,354 1,215,354

Deferred Tax Credit / (Charge) (156,476) (156,476)

Net Operating Profit/(Loss) - - - - - - - 1,058,878 1,058,878

Segmental Balance SheetSegment assets

Investments 8,985,676 12,789,336 21,674 36,055 1,904,162 2,879,768 150,201 8,932,049 35,698,921

Loans 54,166 - - - - - - 54,166

Outstanding Premium 293,888 - - - 65,937 - - - 359,825 Seed Capital Contribution towards Unit

Linked Funds - - - - - - - 47,526 47,526 Receivable towards non- par non

linked funds - -

Income Accrued on Investments 240,089 451,631 370 315 52,602 1,363 579 172,368 919,317

Total Segment Assets 9,573,819 13,240,967 22,044 36,370 2,022,701 2,881,131 150,780 9,151,943 37,079,755

Unallocated Assets

Net Fixed Assets - - - - - - - - 543,442 Deferred Tax Asset - - - - - - - - 367,921 Cash and Bank Balances - - - - - - - - 860,493 Advances and Other Assets - - - - - - - - 1,311,870 Deficit In The Revenue Account

(Policyholders' Account) - - - - - - - - -

Debit Balance In Profit And Loss

Account (Shareholders’ Account) - - - - - - - 2,480,527 2,480,527

Total Assets 42,644,008

Segment Liabilities

Policy Liabilities 9,061,248 13,026,380 8,749 24,644 1,915,821 2,855,490 148,789 - 27,041,121

Fair Value Change Account 4,713 9,252 7 - 2,169 14 - (393,954) (377,799)

Premium Received in Advance 20,974 - - 8 6,360 2,013 - - 29,355

Due to unit linked fund - - - - - - - 13,565 13,565

Due to Non- par non linked funds - -

-

Total Segment Liabilities 9,086,935 13,035,632 8,756 24,652 1,924,350 2,857,517 148,789 (380,389) 26,706,242

Segment Reserves - - - - - - - - -

Reserves and Surplus - - - - - - - - 8,329,217

Equity Capital - - - - - - - - 3,740,619

Unallocated Liabilities

Current Liabilities - - - - - - - - 3,732,816

Provisions - - - - - - - - 135,114

Funds For Future Appropriations - - - - - - - - -

Total Liabilities 42,644,008

Particulars

Non-Participating Policies

(Non-Linked)

Linked Policies Shareholders'

Funds Total

The Company's business is organised on a national basis and having following segments : Non-participating Individual Life , Non-Participating Group Life , Group Health, Individual Health, Participating

Individual Life, Unit Linked Individual life and Units Linked Individual Pension Businesses. Non-participating businesses include policies with committed cash flows, with no rights to the surplus in the

business. Investment of shareholder funds constitute investible funds relating to shareholders. Accordingly, the Insurer has provided primary segment information for these segments as per the

Accounting Standard (AS) 17 on ' Segment Reporting', read with the relevant IRDA Regulations.

Segment assets and liabilities include those, which are employed by a segment in its operating activity. Other common assets and liabilities are allocated to the segment on a pre-determined basis.

Assets and liabilities that cannot be allocated to all segments on a reasonable basis have been disclosed as unallocated assets / liabilities.

The accounting principles used in presentation of financial statements are also applied to record revenue and expenditure in individual segments. All segment revenue are directly attributed to

individual segments. Other expenses, which are reasonably attributable, are apportioned to the business segment as per accounting policy of the Company There are no inter segment revenues. Income

and expenses that cannot be allocated to the segments on a reasonable basis are disclosed as unallocated Income/expense.





(q) The ratios as prescribed by IRDAI are given below :Ratios March-19 March-18

(a) New Business Premium Income Growth (segment wise)

Individual Life - Non Participating (0.02) 0.73

Group Life (0.19) 0.65

Group Health 1.75 8.23

Individual Health (0.71) 8.34

Group Variable 1.00 -

Individual Life - Participating (0.35) 1.36

Individual Linked (0.42) 0.38

Linked Pension 1.00 -

(b) Net Retention Ratio 93% 95%

(Net premium as a % of gross premium)

(c) Ratio of Expenses of Management 34% 38%

(Expenses of Management as a % of Gross Premium)

(d) Commission Ratio 4% 4%

(Gross Commission as a % of Gross Premium)

(e) Ratio of Policy holders' liabilities to shareholders' funds 365% 294%

(Policyholders' Liability as a % of Shareholders' Funds)

(f) Growth rate of Shareholders' Funds 6% 6%(Increase/ (Decrease) in Shareholders' Funds over

previous year as a % of Shareholders' Funds of Previous

year)

(g) Ratio of Policyholders' Surplus to Policy holders' liability 9% 13%

(Policyholders' Surplus as a % of Policyholders' Liability)

(h) Change in Net worth (over previous year) 595,047 508,647

(Increase/ (Decrease) in Net Worth over previous year )

(i) Profit after tax / Total Income 0.04 0.05

(j) (Total Real Estate+Loans)/ Cash & Invested assets NA NA

(k) Total Investments/(Capital + Total Surplus) 3.57 2.96

(l) Policy Lapse Ratio 21.09% 20.36%

(m) Total Affiliated Investments/(Capital + Total Surplus) 12.35% 7.74%

(n) Investment Yield- With Realized gains

Policyholders’ Funds Non-Linked:

- PAR 8.24% 8.01%

- Non-PAR 8.29% 8.33%

Policyholders’ Funds Linked:

- Non-PAR 4.18% 7.94%

Shareholders’ Funds 5.36% 7.40%

Investment Yield- With Unrealized gains

Policyholders’ Funds Non-Linked:

- PAR 8.16% 7.97%

- Non-PAR 8.25% 8.33%

Policyholders’ Funds Linked:

- Non-PAR 10.41% 6.36%

Shareholders’ Funds 2.63% 1.42%

Renewal Premium

(o) Conservation Ratio 84% 88%

(p) Persistency Ratio (Premium wise)*

For 13th month 78.91% 79.64%

For 25th month 72.86% 61.60%

For 37th month 56.74% 42.30%

For 49th Month 39.26% 37.44%

for 61st month 33.11% 21.80%

(q) NPA Ratio NA NA

(r) Solvency Ratio 460% 552%

(s) Claims Incurred Ratio** 11% 7%

* Persistency ratio calucated on Non-Reducing balance** Claims incurred Ratio is calculated based on (Net Death Benefits/Net Premium)

Basis of calculation

Definition and methodology as laid down by IRDA vide circular IRDA/F&I/CIR/F&A/012/01/2010 on public disclosures by Insurance Companies.





(r) Statement containing names, descriptions, occupations of and directorship held by the person incharge of

management of the business under Section 11(2) of the Insurance Act, 1938

Name Anoop Pabby

Description Managing Director & Chief Executive Officer

Directorships held as at March 31, 2018 Loantap Financial Technologies Private Limited

Avanse Financial Services Limited*

Indian Red Cross Society(Delhi Branch) - Member

St. John's Ambulance (India) - Member

Occupation Service

*Resigned w.e.f November 02, 2018

(s) Provision for Other Employee benefits / Long Term Employee Benefits

The Breakup of Provision in Long term Employee Benefits is as under:

Description Mar-19 Mar-18

Balance at the beginning of the year 45,233 51,339

Additional provision during the year 91,512 34,587

Amount paid during the year 28,933 40,693

Balance at the end of the Year 107,811 45,233

(t) Foreign exchange gain/loss

(u) Foreign currency exposure

(v) Historical cost of investment

(w)

Principal amount due and remaining unpaid 11,576 160

Interest due on above and the unpaid interest - 41

Interest paid - -

Payment made beyond the appointed day during the year - -

Interest due and payable for the period of delay - -

Interest accrued and remaining unpaid - 41

Amount of further interest remaining due and payable in succeeding years - -

The Company has recorded Foreign exchange loss of Rs. 43 in the Revenue Account (Previous Year Gain at Rs.1,157)

The year - end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are at Rs.

16,904 (US$ 243,405) and previous year Rs. Rs. 8,895 (US$ 136,756).

In addition to the above, the Company has provided Rs. 80,150 (Previous year Rs. 83,403) on account of one time Non-

recurring founders grant for which approval has been received from IRDAI.

Details of dues to Micro, Small and Medium Enterprises as defined in MSMED Act,2006

The details of amounts outstanding to Micro, Small and Medium Enterprises

based on available information with the Company is as under :March-19 March-18

As at 31st March 2019, the aggregate historical cost and market value of investments, which are valued at fair value, is at

Rs. 62,62,948 and Rs. 60,77,884 respectively (Previous year Rs. 54,65,540 and Rs. 53,42,574).

Provision for Other Employee benefits / Long Term Employee Benefits Rs. 107,811 (Previous year Rs. 45,233) pertains to the amounts

provided to meet dues towards employee benefits payable pursuant to Long Term Incentive Plans / Employee joining commitments of

the Company.





(x) Related Party Disclosures (March 31, 2019)

Description of relationship Name of Party

(a) Holding Company Nil

(b) Fellow Subsidiaries Nil

(c) Significant Influence Dewan Housing Finance Corporation Limited

Aadhar Housing Finance Ltd (Formerly known as DHFL Vysya Housing Finance Ltd)

Arthveda Fund Manangement Private Limited

Avanse Financial Services Limited

Prudential International Insurance Service Co. LLC

DHFL Pramerica Asset Manager Private Limited

DHFL General Insurance Ltd

DHFL Investments Limited

Pramerica Financial Asia Headquarters PTE Limited

DHFL Pramerica Life Insurance Company Employees Group Gratuity Trust

RKW Developers Private Limited

JVPD One Builder LLP

Wadhawan Sports Private Limited

Wadhawan Wealth Managers Private Limited (Formerly WGC Advanced Healthcare Private Limited)

WGC Management Services Private Limited

Others (Refer Annexure-1)

(d) Key Management Personnel Mr. Anoop Pabby

Mr. Alok Mehrotra

Mr. Mayank Goel

(e) Enterprises related to Key Management Personnel Nil

The details of significant related party transactions as per Accounting Standard (AS) - 18 is given below :

Transactions Balance Transactions Balance

Dewan Housing Finance Corporation Limited Premium 2,497,234 (6,442) 5,173,843 (169,750)

Commission (282,182) (3,936) (310,408) (67,547)

Policy Deposits - (1,000) - (1,000)

Application for Purchase of Investments - - - -

Refund of Application Money - - - -

Allotment of bonds and debentures - 1,136,336 - 934,780

Investment Income 96,518 - 75,384 -

Interest Income on Application Money 1,202 - - -

Rent and maintenance expenses (1,448) (125) - -

Aadhar Housing Finance Ltd Premium 1,160,452 (13,942) 1,337,642 (34,995)

Commission (64,658) (9,842) (24,345) (5,437)

Policy Deposits - (2,200) - (2,200)

Allotment of bonds and debentures - 294,029 - -

Investment Income 8,206 -

Arthveda Fund Manangement Private Limited Premium 22 (600) - (600)

Avanse Financial Services Limited Premium 82,022 (949) 105,751 (1,465)

Commission (18,012) (1,028) (10,182) (9,062)

Policy Deposits (200) (200)

Recovery of Expenses 12,749 10,782 15,853 8,063

Reimbursement of Expenses (1,749) (2,405) (1,747) (657)

Reimbursement of IT Infrastructure Support (3,437) (3,437) - -

Remuneration (152,501) (98,805) (113,429) (64,403)

Premium 212 - 245 -

-

DHFL Pramerica Asset Manager Private Limited Purchase of Mutual fund (2,580,400) - (1,852,500) -

Sale of Mutual fund 2,523,308 - 1,853,910 -

Profit on sale of mutual fund 2,908 - 1,410 -

Premium 1,220 (239) 686 (119)

Policy Deposits - (100) - -

Allotment of bonds and debentures 60,047

DHFL General Insurance Ltd Premium 836 (300) - -

DHFL Investments Limited Receipt of Appointment Fee - - 100 -

DHFL Investments LimitedRefund of deposits received towards

appointment of director- - (100) -

Pramerica Financial Asia Headquarters PTE Limited Reimbursement of Expenses - - (2,494) -

RKW Developers Private Limited Premium 550 (1,335) - -

JVPD One Builder LLP Premium 18 - - -

Wadhawan Sports Private Limited Premium 88 (90) - -

Wadhawan Wealth Managers Private Limited (Formerly WGC

Advanced Healthcare Private Limited)Premium 989 - - -

WGC Management Services Private Limited Premium 329 (122) - -

DHFL Pramerica Life Insurance Company Employees Grooup Gratuity

TrustTransfer of funds 5 5

- -

Notes:

1) All the above transactions have been conducted at arm's length basis.

2) Figures in paranthesis represents expenses and payables.

Other relevant information:

i) Payments for management contract, including for deputation of employees is at actual cost incurred by them.

ii) Payments for services rendered by Key Management Personnel represent remuneration as computed under the Income Tax Act, 1961 and does not include

gratuity and leave encashment as the same is determined for the Company as a whole.

Prudential International Insurance Service Co. LLC

Related Parties have been identified by the management on the basis of the information available with the Company.In accordance with the requirements of Accounting Standards (AS) -

18, "Related Party Disclosures", the names of the related party where control exists/able to exercise significant influence along with the aggregate transactions and year end balances with

them as identified and certified by the management are given below:

Party Name Description of Service2018-19 2017-18

Key management personnel

iii) No transactions and balances have been shown for those parties who were related party in the previous year but not in current year.





(y) Summary of Financial Statements forming part of Notes to Accounts is given below:

Particulars March-19 March-18 March-17 March-16 March-15

POLICYHOLDERS' A/C

1 Gross Premium Income 18,168,603 18,444,591 11,421,028 9,202,098 7,350,966

2 Net Premium Income (Net of Re-insurance) 16,913,695 17,457,720 10,895,157 8,881,107 7,162,438

3 Income from Investments (Net of Losses) 2,719,517 1,816,613 1,635,104 716,793 845,597

4 Other Income (Fees & Charges) 10,795 3,108 1,899 1,108 888

Contribution from the Shareholders' a/c 125,705 216,379 566,612 1,567,732 806,658

5 Total Income ( 2+3+4+5) 19,769,712 19,493,820 13,098,772 11,166,740 8,815,581

6 Commission 813,515 706,597 259,998 246,056 264,758

7 Brokerage - - - - -

8 Operating Expenses related to Insurance Business 3,901,056 4,501,830 3,058,887 3,429,831 2,747,697

Goods & Services Tax on Premium 19,501 17,407 12,287 12,555 14,352

9 Provison for Tax - - - - -

10 Total Expenses (7+8+9) 4,734,072 5,225,834 3,331,173 3,688,442 3,026,807

11 Payments to Policyholders 3,219,404 2,543,583 1,937,031 1,578,625 705,315

12 Increase in Actuarial Liability 7,956,790 7,787,115 5,735,106 4,602,321 4,212,881

13 Provision for Linked Liabilities 654,507 486,158 266,048 (279,738) 159,602 14 Surplus/Deficit from Operations 3,204,940 3,451,131 1,829,414 1,577,091 710,977

SHAREHOLDERS' A/C

15 Total Income under Shareholders' Account 594,155 680,461 1,007,505 643,118 616,499

16 Total Expenses under Shareholder's Account 2,612,395 2,699,858 1,566,101 68,905 62,351

17 Profit/(loss) before Tax 979,112 1,215,354 704,206 583,572 458,466

18 Provisions for Tax - - - - - Deferred tax adjustment (127,285) (156,476) (90,667) (75,135) (59,028)

19 Profit/ loss after tax 851,827 1,058,878 613,539 508,437 399,438

20 Profit/ loss carried to Balance Sheet (1,628,700) (2,480,527) (3,539,405) (4,152,944) (4,661,381)

MISCELLANEOUS

21 Policyholders' account:

Total Funds 35,656,838 27,057,278 18,784,212 12,766,693 8,444,150

Total Investments (Including Linked) 35,113,270 26,766,873 18,660,012 12,758,243 8,534,343

Yield on Investments (%) (excluding Unit Linked Investments)^ 8.56% 8.17% 9.92% 8.84% 9.00%

Yield on Investments (%) (Unit Linked Individual Life Funds) 12.30% 7.54% 15.91% 0.13% 21.31%

Yield on Investments (%) (Unit Linked Individual Pension Funds) 12.35% 10.29% 19.69% -4.73% 28.73%

Shareholders' account:

Total Funds 9,790,402 9,195,355 8,686,708 7,887,407 7,409,830

Total Investments 7,921,706 8,932,049 7,834,198 7,469,837 6,862,415

Yield on Investments (%)^ 7.15% 8.29% 13.58% 9.30% 13.23%

22 Yield on Total Investments^ 8.56% 8.16% 11.71% 7.76% 13.54%

23 Paid up Equity capital 3,740,619 3,740,619 3,740,619 3,740,619 3,740,619

24 Net Worth 9,790,402 9,195,355 8,686,708 7,887,407 7,409,830 25 Total Assets 48,118,283 40,163,482 29,991,593 22,776,761 17,472,123

26 Earning per share - Basic & Diluted (Face Value : Rs 10 each) in Rs. 2.28 2.83 1.64 1.36 1.09 27 Book Value per Share: Rs 10 Paid up 26.17 24.58 23.22 21.09 19.81

^Yield computed as = Investment Income/((Opening Investments + Closing Investments)/2)

(z) Earnings per equity share :


2 Weighted average number of equity shares for earnings per equity

a) For basic earnings per equity share 374,061,867 374,061,867

b) For diluted earnings per equity share (as per 2a) 374,061,867 374,061,867

3 Earning per equity share

a) Basic (in Rs.) 2.28 2.83

b) Diluted (in Rs.) 2.28 2.83

1 Net Profit/(Loss) as per Profit & Loss Account available for equity 851,827 1,058,878





(aa) Employee Benefits - Disclosures as per revised AS 15

(Refer to Note I (g) on Schedule 16)

i Defined Contribution Plans - Provident Fund and National Pension Scheme

During the year the Company has recognised the following amounts in the Revenue/ Profit and Loss account :

Particulars* March-19 March-18

Employers Contribution to Provident Fund 100,569 102,428

Contribution to National Pension Scheme 5,054 -

* Included in employees remuneration and welfare benefits in schedule 3 of Revenue account and Salaries and Allowances in Profit and Loss account

ii Defined Benefit Plans - Gratuity

The Company has recognised following amounts in the Balance Sheet:


Present value of defined benefit obligations as at the end of the year78,728 62,477

Fair value of reimbursement rights at the end of the year* (78,739) - Liability recognised in the Schedule 14 - "Provisions" in the

Balance Sheet 78,728 62,477 Asset recognised in the Schedule 12 - "Advances And Other

Assets" in the Balance Sheet78,739 62,477

* Company has setup a Trust during financial year 2018-19 to administer the gratuity obligation

The Company has recognised following amounts in the Revenue Account for the year:


Current service cost 9,777 7,743

Past Service cost - -

Interest cost 3,580 2,832

Expected return on Reimbursement Rights (2,874) -

Net Actuarial (gain)/ loss recognised during the year 14,982 12,922

Total Expense recognised in Revenue Account 25,466 23,496

Reconciliation of opening and closing balances of present value of the defined benefit obligations:

Change in Defined Benefit Obligation March-19 March-18

Present value obligation as at beginning of year 62,477 46,840

Interest cost 3,580 2,832

Past Service cost - - Current service cost 9,777 7,743

Benefits Paid (11,317) (7,860)

Actuarial (gain)/ loss on Obligations 14,212 12,922

Present value obligation as at the end of year 78,728 62,477

Reconciliation of opening and closing balances of the fair value of the reimbursement rights:

Changes in the Fair value of Reimbursement Rights March-19 March-18

Fair value of Reimbursement Rights as at beginning of year - -

Expected return on Reimbursement Rights 2,874 -

Contributions 76,636 -

Benefits Paid - -

Actuarial gain/ (loss) on Obligations (771) -

Fair value of reimbursement rights as at end of year 78,739 -

The surplus/(deficit) credited or charged to the Revenue Account is as given below:

Changes in the Fair value of Reimbursement Rights March-19 March-18

Defined benefit obligations at the end of the year 78,728 62,477

Reimbursement rights at the end of the year 78,739 -

Surplus/(Deficit) charged to the Revenue Account 11 (62,477)

The broad categories of reimbursement rights held by the Trust as a percentage of total plan assets are as given below:


Insurer managed funds 100% -

Asset allocation-

Government of India securities 51% -

Corporate bonds 47% -

Other investments 2% -

Total 100% -

In addition to the reimbursement rights from insurance policy, the Trust holds Rs. 5 (Previous year ended March 31, 2018 Rs. Nil) in the bank account.

Gratuity (Funded Plan) March-19 March-18 March-18 March-17 March-16

Present value of the defined benefit obligation at the end of the year78,728 62,477 62,477 38,243 34,062

Fair value of the plan assets at the end of year (78,739) - - - -

(Surplus) / Deficit in the plan (11) 62,477 62,477 38,243 34,062

(Gain)/loss on experience adjustments arising on plan liabilities 14,443 12,435 5,466 461 (765)

(Gain)/loss on experience adjustments arising on plan assets 771 - - - -

Actuarial valuation was carried out as at the Balance Sheet date in respect of the defined benefit plans based on the following assumptions.

Assumptions March-19 March-18

Discount Rate (per annum) 6.42% 6.30%

Rate of increase in compensation levels 7.0% 7.00%

Rate of return on reimbursement rights 7.5% 0%

Expected Average remaining working lives of employees (years) 22.22 22.72

Mortality rates IALM 2012-14 IALM 2006-08

iii Other long term employee benefits

Long term compensated absences:

Assumptions March-19 March-18


Rate of increase in compensation levels 7.0% 7.0%

Rate of return on plan assets 7.5% 0%

Expected Average remaining working lives of employees (years) 22.22 22.72

Mortality rates IALM 2012-14 IALM 2006-08

Company has partially funded its obligation towards compensated absences through reimbursement rights under insurance policy.

Long term incentive plan:



This is an unfunded employee benefit. The liability for accumulated long term absences is determined by actuarial valuation using projected unit credit method. The assumptions used for

valuation are as given below:

The liability for this plan is determined as the present value of expected benefit payable. The discount rate used of valuation of this liability is as given below:

Actual return on plan assets of the Gratuity plan is a gain of Rs. 2,103 (Previous year ended March 31, 2018 Rs. Nil).

The Company expects to fund Rs. 9,891 towards the Company's Gratuity plan during next financial year.

Expected rate of return on investments of the Gratuity plan is determined based on the assessment made by independent actuary at the beginning of the year on the return expected on

its existing portfolio, along with the return on estimated incremental investments to be made during the year. Yield on the portfolio is calculated based on suitable mark-up over

benchmark Government Securities of similar maturities.

The amounts of the present value of the defined benefit obligations, fair value of the plan assets, surplus or deficit in the plan, experience adjustments arising on plan liabilities and plan

assets for five annual periods are as given below:




(All Amounts in Thousand of Indian Rupees, unless otherwise stated)

(ab)

(ac) Additional information related to expenses incurred under following activities included under respective heads in Schedule-3:

Heads March-19 March-18

Outsourcing Expenses 99,475 130,765 76241

Business Development 42 697

Marketing Support 66,267 39,861 76325

(ad) Seed Capital in case of Unit Linked Funds

(ae) Disclosures on Discontinued Linked Policies -

Sub-Total Total Sub-Total Total

Fund for Discontinues Policies

Opening Balance of Funds for Discontinued Policies 223,117 248,285

Add: Fund of policies discontinued during the year 185,781 198,135

Less: Fund of policies revived during the year (52,581) (172,543)

Add: Net Income/ Gains on investment of the Fund 17,760 12,829

Less: Fund Management Charges levied (1,569) (1,493)

Less: Amount refunded to policyholders during the year (56,325) (62,096)

Closing Balance of Fund for Discontinued Policies 316,183 223,117

Other Disclosures :

1307 2297

Wealth Plus Premier

Ezee Wealth Plus

Smart Wealth Plus

DHFL Pramerica Wealth+ Ace

DHFL Pramerica Wealth Maximiser 0.97% 0.00%

Charges readjusted on account of revival of discontinued policies

(af)

Non-

Compliance/

Violation

Penalty

Awarded#

Penalty

Paid

Penalty

Waived/

Reduced

Non-

Complianc

e/

Violation

Penalty

Awarded#

Penalty

Paid

Penalty

Waived/

Reduced

Insurance Regulatory and Development Authority NIL NIL NIL NIL NIL NIL NIL NIL

Service Tax Authorities NIL NIL NIL NIL NIL NIL NIL NIL

Income Tax Authorities NIL NIL NIL NIL NIL NIL NIL NIL

Any other Tax Authorities NIL NIL NIL NIL NIL NIL NIL NIL

Enforcement Directorate/ Adjudicating Authority/

Tribunal or any Authority under FEMA

NIL NIL NIL NIL NIL NIL NIL NIL

Registrar of Companies/ NCLT/CLB/ Department of

Corporate Affairs or any Authority under Companies

Act, 1956/2013


Penalty awarded by any Court/ Tribunal for any

matter including claim settlement but excluding

compensation


Securities and Exchange Board of India NA NA NA NA NA NA NA NA

Competition Commission of India NIL NIL NIL NIL NIL NIL NIL NIL

Any other Central/State/Local Government /

Statutory Authority


# does not include any penalties awarded under tax litigations which are currently in appeal under adjudication

Disclosures For ULIP Business -Attached as Annexure-2

Details of various penal Actions taken by various Government Authority (pursuant to Circular reference: IRDA/F&A/CIR/232/12/2013 dated 11th

December 2013 Master Circular on Preparation of Financial Statements and Filing Returns of Life Insurance Business)

March-19 March-18

Authority

50 & 2%

Charges imposed on account of Discontinued Policies 509 5129

0.03% 5.48%

Seed Capital amount invested by Shareholders in Unit Linked Funds is used to purchase various investments in Government Securities as well as equity as warranted by

Investment pattern of the respective Unit Linked Funds .

March-19

(4,440) (2,584)

The value of units held in excess of Unit Reserve in respect of linked policies is shown as "Other payables" in Schedule 8B and corresponding assets held are disclosed as

"Seed Capital Contribution towards Unit Linked Funds" in Schedule 12 - Advances & Other Assets. As at March 31, 2019, total seed capital stands at Rs 51,797 (Previous

Year Rs. 47,526).

No. of Policies discontinued during the year :

Percentage of Discontinued Policies (Productwise) :

0.24% 6.11%

Particulars

Pursuant to Circular reference: IRDA/F&A/CIR/232/12/2013 dated 11th December 2013 Master Circular on Preparation of Financial Statements and Filing Returns of Life

Insurance Business

15.97% 21.48%

0.00% 0.00%

March-18

No. and Percentage of policies revived during the year 297 & 23%





(ag)

(ah) Treatment of Unclaimed Amount of Policyholders' Unclaimed

Pursuant to IRDAI Master Circular- Unclaimed amount of policyholders dt: 25th July 2017

Statement showing the Age-wise Analysis of the Unclaimed Amount of the Policyholders

31-Mar-19

Claims settled but not paid to the

policyholders/beneficiaries due to any reasons except

under litigation from the policyholders/ beneficiaries

378

- 43 - - 183 74 78

Sum due to the policyholders/ beneficiaries on

maturity or otherwise 76

76 - 0 - - - -

Any excess collection of the premium/tax or any

other charges which is refundable to the

policyholders/ beneficiaries either as terms of

conditions of the policy or as per law or as may be

directed by the Authority but not refunded so far

14,237

7,190 2,015 1,154 768 337 369 2,404

Cheques issued but not encashed by the

policyholder/beneficiaries 136,354

32,746 16,858 12,093 25,883 8,734 12,109 27,932

Total 151,045 40,012 18,916 13,247 26,650 9,255 12,552 30,414

31-Mar-18

Claims settled but not paid to the

policyholders/beneficiaries due to any reasons except

under litigation from the policyholders/ beneficiaries

997 - - 660 172 68 76 22

Sum due to the policyholders/ beneficiaries on

maturity or otherwise

235 234 1 - - - - -

Any excess collection of the premium/tax or any

other charges which is refundable to the

policyholders/ beneficiaries either as terms of

conditions of the policy or as per law or as may be

directed by the Authority but not refunded so far

35,648 7,521 5,498 3,454 4,124 2,829 2,199 10,023

Cheques issued but not encashed by the

policyholder/beneficiaries

142,141 13,891 29,730 36,119 13,831 16,137 9,614 22,818

Total 179,022 21,647 35,229 40,233 18,127 19,035 11,888 32,864

Details of Unclaimed Amount and Investment Income

(Rs . In Lakhs)

1,790 2,188

619 1,964

- -

99 187

997 2,548

- -

1,510 1,790

* Pursuant to IRDAI Master Circular- Unclaimed amount of policyholders dt: 25th July 2017

Current Financial yearParticulars

Opening Balance

Add: Amount transferred to Unclaimed Fund

Add: Cheques issued out of the unclaimed amount but not encashed by the

policyholders (To be included only when the cheques are stale)

Add: Investment Income on Unclaimed Fund

Less: Amount of claims paid during the year#

Less: Amount transferred to SCWF (net of claims paid in respect of amounts

transferred earlier)

Closing Balance of Unclaimed Amount Fund

Previous Financial Year

Total

Amount

AGE-WISE ANALYSIS ( in months)Beyond 36

Months

Particulars

Particulars

31- 36

31- 36Beyond 36

Months

1-6 7-12 13-18 19-24 25-30

Total

Amount

AGE-WISE ANALYSIS ( in months)

1-6 7-12 13-18 19-24 25-30

# Pursuant to clarification on definition of "Unclaimed Amount" as per IRDAI Master Circular, unidentified credit amounting to Rs. 158 Lakhs which were included in

unclaimed amount in the previous year has now been excluded. This amount has been included in amount of claims paid during the year for the current year.

During the current year, useful life of assets have been revised on the basis of technical assessment. Had the assets of the Company been depreciated/amortised over

the useful life determined earlier then depreciation/amortisation expense would have been higher by Rs. 59,613 and profit after tax of the company would have been

lower by Rs. 51,863. Useful life adopted by the company is now aligned with useful lives prescribed under Companies Act, 2013.





(ai)Additional Disclosures required by Corporate Governance guidelines

(read with Circular reference No. IRDAI/F&A/GDL/CG/100/05/2016)

1 Financial And Operating Ratios Namely, Incurred Claim, Commission And Expenses Ratios

Please refer financial ratios disclosed in the notes to accounts

2 Actual solvency margin details vis-à-vis the required margin.

March-19 March-18Total Actual Solvency Margin 8,695,844 8,130,825

Total Required Solvency Margin 1,889,631 1,471,953

Solvency Ratio 460% 552%

3 Persistency ratio

Please refer financial ratios disclosed in the notes to accounts

4 Financial performance including growth rate and current financial position of the insurer

Business growth rate is disclosed in notes to accounts under financial ratios.

Current financial position of the company is disclosed in the summary of financial statements of notes to accounts.

5 Description of Risk Management Architecture - As per Annexure 3

6 Number of claims intimated, disposed of and pending with details of duration

1 Claims O/S at the beginning of the period 36 30

2 Claims intimated/reported during the period 79,366 49,053

3 Claims Settled during the period 78,890 48,808

4 Claims Repudiated during the period 219 196

a 217 196

bGreater than 2 year from the date of acceptance

of risk2 -

5 Claims Rejected 31 43

6 Claims Unclaimed

7 Claims Written Back - -

8 Claims O/S at End of the period 262 36

a Less than 3months 235 35

b 3 months to 6 months 27 1

c 6months to 1 year - -

d 1year and above - -

7 Pecuniary relationships / transactions of the Non-Executive Directors :

S.No. Name March-19 March-18

1 Sunjoy Joshi 1,360 1,100 Directors' sitting fees

2 Nitin Gupta 1,680 1,340 Directors' sitting fees

3 Pramath Raj Sinha - 100 Directors' sitting fees

4 Sindhushree Khullar 400 200 Directors' sitting fees

8

9 Payments made to group entities

Transaction with related parties are disclosed in notes to accounts.

10 Disclosure of other work given to auditors

Mar-19 Mar-18

Certification Work 1,994 1,680

Income Tax Audit 350 350

Goods and Service Tax Audit 1,000 -

Fee paid to joint statutory auditors in their capacity as auditor includes Rs. 600 for limited reviews caried out during the financial year 2018-19.

(aj)

(ak)

Mar-19 Mar-18 5,460 9,367

6,669 20 4,860 3,000 16,989 12,387

Service Rendered

Pursuant to clause 7.1 of Corporate Governance Guidelines issued by the IRDAI on 18 May, 2016 the services of the statutory auditors are

disclosed below-

Remuneration package of MD & CEO and Key Managerial Persons amounting to Rs. 334,119 (Previous Year Rs. 268,005) which includes fixed salary and

variable comopnents (Long Term Incentive plan, Performance Bonus, Joining Bonus etc)*, other directors are paid sitting fees which has been disclosed

separately.

The Company had been granted forbearance with regard to non-compliance with the EOM limits for the period FY 2015-16 to FY 2017-18 by IRDAI vide order

No. 446/12A/F&A-Life/EML/DHFL/2015-16/41/2016-17 dated 5th May 2017. The Company has applied to IRDAI vide it's letter dated March 29, 2019 for

forbearance from complying with the EOM limits and the response from Regulator is awaited.

In accordance with the section 135 of Companies Act, 2013, the Company has utilised the funds on various activities which are specified in the Schedule VII of

the Companies Act, 2013.

a) Gross amount required to be spent by the company during the year is Rs. 16,801 (Previous Year Rs. 12,500)

b) Amount spent during the year on:

Spent Towards

Total

Education (including skill development)

Welfare

For FY 2018-19, the Company has charged expenses of 1,452,477 (previous year Rs.1,744,436) to Shareholders Profit and Loss account, being the amount in

excess of limits prescribed in Schedule I of the Expense of Management Regulations, 2016

*Pursuant to circular No. IRDAI/F&A/GDL/CG/100/05/2016

Health Care

*Includes count of claims settled but not paid forming part of policyholder's unclaimed, Read with Circular No.

IRDA/F&I/CIR/CMP/174/11/2010 w.e.f. November 4, 2010

Particulars

Purpose

March-19 March-18Sl. No. Claims Experience

Less than 2years from the date of acceptance of

risk





(al) Stock appreciation rights (SARs)

Detail of activity under SARs plan is summarised below:

No. of SARs

ParticularsFor the year ended

March 31, 2019

Outstanding at the beginning of the year Nil

Granted during the year 2,571,745

Exercised during the year Nil

Vested during the year Nil

Expired during the year Nil

Cancelled/forfeited during the year 37,525

Outstanding at the end of the year 2,534,220

Exercisable at the end of the year 1,321,370

ParticularsFor the year ended

March 31, 2019Risk free interest rates 6.33%

Expected life Over a period of two

years based on vesting

schedule as per the

Plan

Volatility 55.27%

Dividend yield 0%

Weighted average share price on measurement

date (Rs.)

146.34

Weighted average exercise price on

measurement date (Rs.)

117.55

Remaining Contractual life for SARs granted and outstanding as on March 31, 2019 is 2 years.

(am) Investments

(an) Pursuant to IRDAI/CIR/F&I/INV/239/11/2016-17 - Insurers to participate in Joint Lenders Forum (JLF) formed under RBI Guidelines-

Nil Nil Nil Nil Nil Nil Nil

(ao) Reverse Repo Investment

Securities sold under repo

Particulars

Minimum

outstanding during

the year

Maximum

outstanding

during the year

Daily average

outstanding

during the year

Outstanding

as on 31st

March 2019

Government securities - - - -

Corporate debt securities - - - -

Securities purchased under reverse repo

Particulars

Minimum

outstanding during

the year

Maximum

outstanding

during the year

Daily average

outstanding

during the year

Outstanding

as on 31st

March 2019

Government securities - 1,652,357 954,895 -

Corporate debt securities - - - -

There were no Repo or Reverse Repo investments as at March 31, 2018.

(ap) Comparatives

Previous Year figures have been regrouped / reclassified to conform to current year's groupings.

(i)


Chairman Director Director



Varun Gupta Mayank Goel

Appointed Actuary Company Secretary

For and on behalf of the Board of Directors

Provision for litigation related to repudiated claims amounting to Rs. 4,195 has been shown separately under Schedule 4 -Benefits Paid (Net). In previous year

this was included Miscellaneous Expenses under Schedule 3 - Operating Expenses Related To Insurance Business.

In respect of Stock Appreciation Rights (SAR) granted pursuant to the Plan, the liability shall be measured, initially and at the end of each reporting period until

settled, at the fair value of the share appreciation rights, by applying an option pricing model, (excess of fair value as at the period end over the exercise price)

and is recognized as employee compensation cost over the vesting period of three years. The exercise price is determined based on a formulae as defined in

the Plan. Under the Plan, the specified eligible employees are entitled to receive a cash payment which will be the difference between exercise price and fair

market value of shares on the date of exercise, subject to certain conditions. The grant of options to the employees under the Scheme is on the basis certain

performance and other eligibility criteria and on the basis of its nature the scheme is classified as “Cash Settled”.

The Company had invested Rs. 500,000 in the Debentures of Infrastructure Leasing & Financial Services (IL&FS). The issuer of these securities has defaulted

in its obligations towards payment of interest and redemption proceeds since September 2018. Considering the present situation, the company has recognized

an impairment provision to the extent of one-fourth of the face value of these securities. In addition, interest income on these securities has been recognized

only to the extent of amount received from the issuer and the company has suspended further income accrual on these securities. Management is closely

monitoring the event to unfold.

Date of

Approval by

the Insurers

Board

Comments of

Board on

Additional

Exposure

permitted

Name

of the

Entity

Date of Insurers entry into JLF

Exposure as on the

date of Insurers

entry into JLF

Additional

exposure as

decided into

JLF

% of Exposure in

excess of IRDAI

(Inv) Regulations

Company has determined the stock compensation expense under the fair value method. The fair value of the SAR’s was determined using the recombining

binomial lattice model using the following inputs at the grant date and as at each reporting date: -

The Company has recognized costs with respect to these SARs and the same has been charged to shareholders.

Pursuant to the shareholders’ resolutions dated April 26, 2018, the Company introduced the “DHFL Pramerica Life Insurance Company Limited - Employees

Stock Appreciation Plan 2018” (hereinafter called “the Plan”) under which stock appreciation rights are granted to certain eligible employees of the company.

The plan is administered by Nomination and Remuneration Committee.

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-

goelm

Text Box

Sd/-




Annexure 1 - List of Related Parties

S.No Name of Party

1 Cibecue, LLC

2 Coconino, LLC

3 Commerce Street Investments LLC

4 Coolidge, LLC

5 Essex, LLC

6 Flagstaff, LLC

7 Greenlee, LLC

8 Hirakata, LLC

9 Maricopa, LLC

10 PFI IBH (UK) Holdings Limited

11 PGIM Holding Company LLC

12 PGIM Real Estate Finance Holding Company

13 PGIM Real Estate Finance, LLC

14 Capital Agricultural Property Services, Inc.

15 Gateway Holdings II, LLC

16 Mulberry Street Investment, L.P.

17 Mulberry Street Partners, LLC

18 Gateway Holdings, LLC

19 Mulberry Street Investment, L.P.

20 Parent/Subsidiary listing is not repeated

21 Mulberry Street Partners, LLC

22 PGIM Agricultural Investments GP, LLC

23 PGIM Agricultural Investors, LP

24 PAI Bayrock Groves, LLC

25 PAI Delano 1500 Ranches, LLC

26 PAI Flicker Orchard, LLC

27 PAI Good Hope Farm, LLC

28 PAI Holly Hill Groves, LLC

29 PAI Hunt Farm, LLC

30 PAI Lake Placid Groves, LLC

31 PAI Wallula Gap Vineyard, LLC

32 PGIM REF Intermediary Services, Inc.

33 Prudential Asset Resources, Inc.

34 Prudential Mortgage Asset Holdings 1 Japan Investment Business Limited Partnership


36 Prudential Mortgage Capital Asset Holding Company, LLC

37 Prudential Mortgage Capital Funding, LLC

38 PMCF Holdings, LLC

39 PMCF Properties, LLC

40 Prudential Mortgage Capital Holdings, LLC

41 Prudential Affordable Mortgage Company, LLC

42 Prudential Multifamily Mortgage, LLC

43 Prudential Huntoon Paige Associates, LLC

44 PGIM Strategic Investments, Inc.



47 PGIM Foreign Investments, Inc.

48 Glenealy International Limited

49 PGA Asian Retail Limited

50 PGA European Limited

51 PGIM Real Estate MVP Inmuebles IV, S. de R.L. de C.V.

52 PGIM Real Estate S. de R.L. de C.V.

53 PLA Co-Investor LLC

54 PGIM Real Estate MVP Inmuebles IV, S. de R.L. de C.V.

55 PREI International, Inc.

56 PGIM MetaProp Investor LP LLC





S.No Name of Party

57 PRECO ACCOUNT III LLC

58 PRECO ACCOUNT PARTNERSHIP III, LP

59 PRECO Account IV LLC

60 PRECO Account Partnership IV LP

61 PGIM Warehouse, Inc.

62 PGIM, Inc.

63 AREF GP Ltd.

64 Commerce Street Holdings, LLC

65 Columbus Drive Partners, L.P.

66 EuroPRISA Management Company S.A.

67 Everbright PGIM Fund Management Co., Ltd.

68 IVP Fund GP LLC

69 Jennison Associates LLC

70 Market Street Holdings IV, LLC

71 Lake Street Partners IV, L.P.

72 Prudential Capital Partners Management Fund IV, L.P.

73 Mulberry Street Holdings, LLC

74 Stetson Street Partners, L.P.

75 PGIM (Australia) Pty Ltd

76 PGIM (Singapore) Pte. Ltd.

77 AREF Cayman Co Ltd.

78 PGIM (Shanghai) Company Ltd.

79 PGIM Overseas Investment Fund Management (Shanghai) Company Ltd

80 PGIM Broad Market High Yield Bond Partners, LLC

81 PGIM Broad Market High Yield Bond Fund, L.P.

82 PGIM Financial Limited

83 PGIM (Scots) Limited

84 PPPF General Partner LLP

85 Pramerica (Scots) CP GP LLP

86 ASPF III (Scots) L.P.

87 BSC CP LP

88 German Retail Income CP LP

89 Pramerica EVP CP LP

90 Pramerica Pan European Real Estate (Scots) LP

91 Pramerica Property Partners Fund (Scotland) Limited Partnership

92 Pramerica Real Estate Capital I (Scotland) Limited Partnership

93 Pramerica Real Estate Capital II (Scots) Limited Partnership

94 Pramerica Real Estate Capital III (Scots), Limited Partnership

95 Pramerica Real Estate Capital IV (Scots) Limited Partnership

96 Pramerica Real Estate Capital V (Scots), Limited Partnership

97 Pramerica Real Estate Capital VI (Scots) Limited Partnership

98 Preco III (Scotland) Limited Partnership

99 Preco IV (Scotland) Limited Partnership

100 Rio CP LP

101 Pramerica Europrisa Feeder GP LLP

102 Pramerica General Partner LLP

103 Pramerica PRECAP I GP LLP

104 Pramerica PRECAP II GP LLP

105 Pramerica PRECAP III GP LLP

106 Pramerica PRECAP IV GP LLP

107 PRAMERICA PRECAP VI GP (SCOTS FEEDER) LLP

108 PRAMERICA PRECAP VI GP LLP

109 Pramerica Real Estate Capital I GP (Scots Feeder) LLP

110 Pramerica Real Estate Capital IV GP (Scots Feeder) LLP

111 Pramerica Real Estate Capital V (Netherlands) GP LLP

112 Pramerica Real Estate Capital V (Scots), Limited Partnership





S.No Name of Party

113 PRECO III GP LLP

114 PGIM Fund Management Limited

115 PGIM Limited

116 PGIM Management Partner Limited

117 ASPF III (Scots) L.P.

118 Pramerica EVP CP LP

119 Pramerica Real Estate Capital VI (Scots) Limited Partnership

120 Rio CP LP

121 PGIM Netherlands B.V.

122 PGIM Real Estate CD S.a.r.l.

123 PGIM Real Estate Luxembourg S.A.

124 PPPF General Partner LLP

125 Pramerica (Scots) CP GP LLP


127 Pramerica Europrisa Feeder GP LLP

128 Pramerica Fixed Income Funds Management Limited

129 Pramerica General Partner LLP

130 Pramerica PRECAP I GP LLP

131 Pramerica PRECAP II GP LLP

132 Pramerica PRECAP III GP LLP

133 Pramerica PRECAP IV GP LLP

134 PRAMERICA PRECAP VI GP (SCOTS FEEDER) LLP

135 PRAMERICA PRECAP VI GP LLP

136 Pramerica Real Estate Capital I GP (Scots Feeder) LLP

137 Pramerica Real Estate Capital IV GP (Scots Feeder) LLP

138 Pramerica Real Estate Capital IV GP Limited

139 Pramerica Real Estate Capital V (Netherlands) GP LLP

140 PRECO III GP LLP

141 Pricoa Capital Group (Ireland) Limited

142 PRICOA Capital Group Limited

143 PRICOA Management Partner Limited

144 Sterling Private Placement Management LLP

145 QMA Wadhwani LLP

146 Sterling Private Placement Management LLP

147 Wadhwani Cayman Limited

148 Wadhwani Capital Limited

149 QMA Wadhwani LLP

150 PGIM ITH (UK) Holdings Limited

151 PGIM Korea Inc.

152 PGIM Real Estate (Japan) Ltd.

153 PGIM Real Estate Brazil Investimentos Imobiliarios Ltda.

154 PGIM Real Estate Carry & Co-Invest GP, LLC

155 PGIM Real Estate Inmuebles, S. de R.L. de C.V

156 PGIM Real Estate Carry & Co-Invest, L.P.

157 PGIM Real Estate Inmuebles, S. de R.L. de C.V

158 PGIM Real Estate Co-Invest Holdings, LLC

159 PGIM Real Estate Global Debt GP, LLC

160 PGIM Real Estate S. de R.L. de C.V.

161 PGIM Real Estate U.S. Debt Fund GP, LLC

162 PGIM USPF VI Manager, LLC

163 PIM KF Blocker Holdings LLC

164 PIM KF Blocker V Holdings LLC

165 PIM USPF V Manager LLC

166 USPF V Carry LLC

167 USPF V Co-Invest LLC

168 USPF V Investment LP





S.No Name of Party

169 USPF V Investment LP

170 PLA Administradora, LLC

171 PLA Asesoria Profesional II, S. de R.L. de C.V.

172 PGIM Real Estate Mexico S.C.

173 PGIM Real Estate MVP Administradora IV, S. de R.L. de C.V.

174 PLA Administradora Industrial SRL

175 PLA Administradora, S. de R.L. de C.V.

176 PLA Asesoria Profesional, S.de R.L. de C.V.

177 PGIM Real Estate Mexico S.C.

178 PGIM Real Estate MVP Administradora IV, S. de R.L. de C.V.

179 PLA Administradora Industrial SRL

180 PLA Administradora, S. de R.L. de C.V.

181 PLA Mexico Industrial Manager I LLC

182 PLA Mexico Industrial Manager II LLC

183 PLA Mexico Residential Manager I, LLC

184 PLA Residential Fund III Manager, LLC

185 PLA Residential Fund III Aggregating Manager, LLC

186 PLA Residential Fund III Limited Manager, LLC

187 PLA Residential Fund IV Manager, LLC

188 PLA Residential Fund IV Aggregating Manager, LLC

189 PLA Retail Fund I Manager, LLC

190 PLA Retail Fund I Blue, LP

191 PLA Retail Fund I Red, LP

192 PLA Retail Fund I, LP

193 PLA Retail Fund II Manager, LLC

194 PLA Retail Fund II Aggregating Manager, LLC

195 PLA Retail Fund II U.S. Carry/Co-Invest, LP

196 PLA Retail Fund II, LP

197 PLA Retail Fund II, LLC

198 PLA Retail Fund II U.S. Carry/Co-Invest, LP

199 PLA Retail Fund II, LP


201 PLA Services Manager Mexico, LLC

202 PLA Asesoria Profesional II, S. de R.L. de C.V.


204 PLA Asesoria Profesional, S.de R.L. de C.V.


206 PREFG Hanwha Manager, LLC

207 PREI Acquisition I, Inc.

208 EuroCore GP S.à r.l.

209 EVP II GP S.à r.l.

210 PEREF II Co-Invest 1 GP S.à r.l.

211 PEREF II PV S.r.l

212 PEREF II GP S.á r.l.

213 PGIM AVP IV GP S.à r.l.

214 PGIM Real Estate Asia Value Partners IV SCSp

215 PGIM M Campus GP S.á r.l.

216 PGIM Real Estate Debt GmbH

217 PGIM Real Estate Management Luxembourg S.a.r.l.

218 PGIM Real Estate Asia Value Partners IV SCSp

219 PGIM Real Estate European Core Diversified Property Fund

220 PGIM REF Europe GP S.à r.l.

221 PREI Acquisition II, Inc.

222 PGIM Real Estate Germany AG

223 Asia Property Fund III GP S.a.r.l.

224 ASPF II - Feeder Fund GmbH





S.No Name of Party

225 ASPF II Management GmbH

226 ASPF II - Verwaltungs - GmbH & Co. KG

227 European Value Partners GP S.a.r.l.

228 EuroPRISA Management Company S.A.

229 PGIM LTIF GP S.à.r.l.

230 PGIM Real Estate Carry & Co-Invest GP S.á r.l.

231 PGIM Real Estate Carry & Co-Invest SCSp

232 PGIM Real Estate France SAS

233 PGIM Real Estate Luxembourg S.A.

234 Pramerica (Luxembourg) CP GP S.a.r.l.

235 TMW ASPF I Verwaltungs GmbH & Co. KG

236 TMW ASPF Management GmbH

237 United States Property Fund VI GP S.à r.l.

238 PREI Acquisition LLC

239 Prudential/TMW Real Estate Group LLC

240 Rock Marty GP S.à r.l.

241 TMW Real Estate Group, LLC

242 TMW Management, LLC

243 TMW Realty Advisors, LLC

244 TMW USPF Verwaltungs GmbH

245 USPF V - Verwaltungs - GmbH & Co. KG

246 PREI HYDG, LLC

247 PRISA Fund Manager LLC

248 PRISA II Fund Manager LLC

249 PRISA III Fund PIM, LLC

250 PRISA III Fund GP, LLC

251 PRREF II Fund Manager LLC

252 Pru Alpha Partners I, LLC

253 Pru Fixed Income Emerging Markets Partners I, LLC

254 Prudential Capital Group, L.P.

255 Prudential Fixed Income Global Liquidity Relative Value Partners, LLC

256 Prudential Fixed Income U.S. Relative Value Partners, LLC

257 Prudential Home Building Investors, Inc.

258 Prudential Home Building Investment Advisers, L.P.

259 Prudential HYDF Carry/Co-Invest, L.P.

260 Prudential U.S. Real Estate Debt Fund GP LLC

261 Prudential Private Placement Investors L.P.

262 Prudential Private Placement Investors, Inc.

263 Prudential Private Placement Investors L.P.

264 Prudential Trust Company

265 QMA LLC

266 Ross Avenue Energy Fund Holdings, LLC

267 Prudential Capital Energy Opportunity Fund, L.P.

268 Prudential Capital Energy Partners, L.P.

269 PRUDENTIAL CAPITAL ENERGY PARTNERS MANAGEMENT (FEEDER), LLC

270 Prudential Capital Energy Partners Management Fund, L.P.

271 Senior Housing Partners IV L.L.C.

272 Senior Housing Partners V, LLC

273 SENIOR HOUSING PARTNERS VI GP LLC

274 Senior Housing Partnership Fund IV L.L.C.

275 SENIOR HOUSING PARTNERSHIP FUND VI GP LLC

276 SHP IV Carried Interest, LP

277 SHP V Carried Interest, L.P.

278 Senior Housing Partnership Fund V, LLC

279 SMP Holdings, Inc.

280 TRGOAG Company, Inc.





S.No Name of Party

281 Wabash Avenue Holdings V, LLC

282 PCP V Cayman AIV GP, L.P.

283 Wabash Avenue Partners V, L.P.

284 PIFM Holdco, LLC

285 PGIM Investments LLC

286 PGIM Strategic Financing LLC

287 PGIM International Financing Inc.

288 PGIM European Financing Limited

289 Prudential Investment Management Services LLC

290 Prudential Mutual Fund Services LLC

291 Pramerica of Bermuda Life Assurance Company, Ltd.

292 Pruco Assignment Corporation

293 PRUCO, LLC

294 Prudential Capital and Investment Services, LLC

295 Broome Street Holdings, LLC

296 Braeloch Successor Corporation

297 Braeloch Holdings Inc.

298 Graham Resources, Inc.

299 Graham Royalty, Ltd.

300 Prudential Equity Group, LLC

301 Prudential Securities Secured Financing Corporation

302 Prudential Securities Structured Assets, Inc.

303 Pruservicos Participacoes Ltda.

304 Kyoei do Brasil Companhia de Seguros

305 Prudential do Brasil Seguros de Vida S.A.

306 Prudential do Brasil Vida em Grupo S.A.

307 Prudential Annuities Holding Company, Inc.

308 Prudential Annuities, Inc.

309 AST Investment Services, Inc.

310 Prudential Annuities Distributors, Inc.

311 Prudential Annuities Information Services & Technology Corporation

312 Prudential Annuities Life Assurance Corporation

313 Ironbound Fund LLC

314 Passaic Fund LLC



317 Prudential QOZ Investment Fund 1, LLC

318 Vailsburg Fund LLC

319 Prudential IBH Holdco, Inc.

320 Prudential Bank & Trust, FSB

321 Prudential International Insurance Holdings, Ltd.

322 DHFL PRAMERICA LIFE INSURANCE COMPANY LIMITED

323 Gibraltar Reinsurance Company Ltd.

324 Pramerica Business Consulting (Shanghai) Company Limited

325 Pramerica Financial Asia Headquarters Pte. Ltd.

326 Pramerica Life S.p.A.

327 Pramerica Marketing S.r.l.

328 Pramerica Systems Ireland Limited

329 Prudential Holdings of Japan, Inc.

330 The Gibraltar Life Insurance Co., Ltd.

331 CLIS Co., Ltd.

332 Coral Reef Unit Trust

333 Coral Reef, L.P.

334 Green Tree, L.P.


336 The Prudential Gibraltar Financial Life Insurance Co., Ltd.





S.No Name of Party

337 The Prudential Life Insurance Company, Ltd.



340 Pine Tree, L.P.

341 Prudential General Services of Japan Y.K.


343 Prudential Trust Co., Ltd.

344 Prudential International Investments Company, LLC

345 New Savanna

346 Prudential International Investments Cayman

347 Prudential Latin American Investments, Ltd.

348 Prudential International Investments Cayman

349 PFI EM-Tech Fund I, LLC

350 PGIM Japan Co., Ltd.

351 PGLH of Delaware, Inc.

352 DHFL Pramerica Asset Managers Private Limited

353 DHFL Pramerica Trustees Private Limited

354 Pramerica Financial Asia Limited

355 DHFL Pramerica Trustees Private Limited

356 PGIM (Hong Kong) Ltd.

357 Pramerica SGR S.p.A

358 Prudential Chile II SpA

359 Prudential Chile SpA

360 Administradora de Inversiones Previsionales SpA

361 Inversiones Previsionales Chile SpA

362 Administradora de Fondos de Pensiones Habitat, S.A.

363 Inversiones Previsionales Dos SpA

364 Administradora de Fondos de Pensiones Habitat, S.A.

365 Inversiones Previsionales Chile SpA


367 Prudential Financial Securities Investment Trust Enterprise

368 Prudential Life Insurance Company of Taiwan Inc.

369 Prudential Seguros Mexico, S.A. de C.V.

370 Prudential Seguros, S.A.

371 Prudential Servicios, S. de R.L. de C.V.

372 Pruservicos Participacoes Ltda.


374 The Prudential Life Insurance Company of Korea, Ltd.



377 Prudential International Insurance Service Company, L.L.C.

378 GIBRALTAR INDIA SOLUTIONS LLP

379 Gibraltar International Service LLC

380 GIBRALTAR INDIA SOLUTIONS LLP

381 Prudential Brasil Serviços de Consultoria em Gestão Empresarial Ltda.

382 Prudential Brasil Serviços de Consultoria em Gestão Empresarial Ltda.

383 Prudential General Services of Japan Y.K.

384 Prudential Seguros Mexico, S.A. de C.V.


386 Prudential Systems Japan, Limited

387 Rockstone Co., Ltd.

388 Prudential International Investments, LLC

389 Prudential International Investments Advisers, LLC

390 Prudential Servicios, S. de R.L. de C.V.

391 Prudential Japan Holdings, LLC

392 Kyoei Annuity Home Co. Ltd. (Kabushiki Kaisha Kyouei Nenkin Home)





S.No Name of Party

393 Sanei Collection Service Co., Ltd. (Kabushiki Kaisha Sanei Shuuno Service)

394 CLIS Co., Ltd.

395 PG Business Service Co., Ltd

396 CLIS Co., Ltd.

397 PG Insurance Service Co., Ltd. (PG Insurance Service Kabushiki Kaisha)

398 Prudential Gibraltar Agency Co., Ltd. (Prudential Gibraltar Agency Kabushiki Kaisha)

399 PG Collection Service Co., Ltd.

400 PG Insurance Service Co., Ltd. (PG Insurance Service Kabushiki Kaisha)


402 Prudential Real Estate Management Co., Ltd. (Prudential Real Estate Management Yugen Kaisha)






408 Prudential Newark Realty, LLC

409 Prudential Retirement Financial Services Holding LLC

410 Global Portfolio Strategies, Inc.

411 Prudential Workplace Solutions Group Services, LLC

412 Quartzsite, LLC

413 The Prudential Insurance Company of America

414 Broad Street Global Advisors LLC

415 Campus Drive, LLC

416 Colico II, Inc.

417 COLICO, INC.

418 Coral Reef GP

419 Coral Reef, L.P.

420 Cottage Street Investments LLC

421 Cottage Street Orbit Acquisition, LLC

422 Don Cesar Investor LLC

423 Dryden Arizona Reinsurance Term Company

424 Dryden Finance II, LLC

425 Edison Place Senior Note LLC

426 GA 1600 Commons LLC

427 GA 333 Hennepin Investor LLC

428 GA/MDI 333 Hennepin Associates LLC

429 GA Bay Area GP LLC

430 GA Bay Area Investor LLC

431 GA Belden LLC

432 GA Cal Crossings, LLC

433 GA CLARENDON LLC

434 GA Collins LLC

435 MC GA COLLINS HOLDINGS LLC

436 MC GA COLLINS REALTY LLC

437 GA E. 22nd Street Apartments Holdings LLC

438 210-220 E. 22nd Street SSGA Owner, LLC

439 GA East 86 Street LLC

440 GA JHCII LLC

441 GA Manor at Harbour Island, LLC

442 Manor at Harbour Island, LLC

443 GA MENLO PARK INVESTOR LLC

444 GA Metro LLC

445 GA Mission LLC

446 GA TRITON INVESTOR LLC

447 GA W Paces LLC

448 Gateway CDE LLC





S.No Name of Party

449 GIBRALTAR BSN HOLDINGS SDN BHD

450 Gibraltar BSN Life Berhad

451 Gibraltar Universal Life Reinsurance Company



454 Green Tree GP

455 Halsey Street Investments LLC

456 Impact Investments Bridges UK S.a.r.l


458 LINEUP LLC

459 TENSATOR HOLDINGS LTD

460 Orchard Street Acres Inc.


462 PFI EM-Tech Fund I, LLC

463 PGIM Broad Market High Yield Bond Fund, L.P.

464 PGIM REF Europe GP, LLP

465 PGIM REF Europe Member, LLC

466 PGIM REF Europe GP, LLP

467 PGIM REF Europe, L.P.

468 Pine Tree GP

469 PLA Retail Fund I, LP

470 PR GA SCP Apartments, LLC

471 SCP Apartments, LLC

472 Pramerica (Hong Kong) Holdings Limited

473 Pramerica Fosun Life Insurance Co., Ltd.

474 Pramerica Holdings Ltd

475 PGIM European Services Limited

476 PRECO ACCOUNT PARTNERSHIP III, LP

477 PRECO Account Partnership IV LP

478 Pru 101 Wood LLC

479 PRU 3XSquare, LLC

480 Pruco Life Insurance Company



483 LINEUP LLC



486 Pruco Life Insurance Company of New Jersey


488 Prudential Global Funding LLC

489 PT Asuransi Jiwa Mega Indonesia


491 Pruco Securities, LLC

492 Prudential Agricultural Property Holding Company, LLC

493 Prudential Arizona Reinsurance Captive Company


495 Prudential Arizona Reinsurance Term Company


497 Prudential Arizona Reinsurance Universal Company


499 SVIIT Holdings, Inc.

500 Prudential Commercial Property Holding Company, LLC

501 Prudential Customer Solutions LLC

502 Prudential Financial Securities Investment Trust Enterprise

503 Prudential Funding, LLC

504 Prudential Global Funding LLC





S.No Name of Party

505 Prudential Home Building Investment Advisers, L.P.

506 Prudential Impact Investments Mortgage Loans LLC

507 Prudential Impact Investments Private Debt LLC

508 Prudential Impact Investments Private Equity LLC

509 Prudential QOZ Investment Fund 1, LLC

510 Prudential Industrial Properties, LLC

511 Prudential Insurance Agency, LLC

512 Prudential Legacy Insurance Company of New Jersey

513 Chadwick Boulevard Investment Holdings Co., LLC

514 Adlerwerke CB Investment LLC

515 CB German Retail LLC


517 Strand Investments Limited

518 PRUDENTIAL MORTGAGE SKP MEMBER LLC

519 PRUDENTIAL MORTGAGE SKP VENTURE 2 LLC

520 PRUDENTIAL MORTGAGE SKP REIT LLC

521 PRUDENTIAL MORTGAGE SKP VENTURE LLC

522 PRUDENTIAL MORTGAGE SKP REIT LLC

523 Prudential Realty Securities, Inc.

524 Prudential 900 Aviation Boulevard, LLC

525 Prudential Retirement Holdings, LLC

526 MC Insurance Agency Services, LLC

527 Mullin TBG Insurance Agency Services, LLC

528 TBG Insurance Services Corporation

529 Mullin TBG Insurance Agency Services, LLC

530 Prudential Retirement Insurance and Annuity Company



533 LINEUP LLC


535 PRIAC Property Acquisitions, LLC


537 Prudential Structured Settlement Company

538 Prudential Term Reinsurance Company


540 Prudential Universal Reinsurance Company


542 Residential Services Corporation of America LLC

543 The Prudential Home Mortgage Company, Inc.

544 Rock George V S.à. r.l.

545 49-51 avenue George V Holdings SAS

546 49-51 avenue George V SCI

547 49-51 avenue George V SCI

548 Rock Global Real Estate LLC

549 Rock European Real Estate Holdings S.àr.l.

550 Rock UK Real Estate Holdings S.àr.l.

551 Rock Hamburg North S.à r.l.

552 Rock Kensington Limited

553 Thurloe Commercial Guernsey Limited

554 Rock Marty SCSp

555 Rock Marty Holding S.à r.l.

556 Rock Marty PropCo A S.à r.l.

557 EUROCORE MARTY PROPCO SCI

558 Rock Marty PropCo B S.à r.l.

559 EUROCORE MARTY PROPCO SCI

560 Rock Meguro LLC





S.No Name of Party

561 Rock Oxford S.a r.l.

562 Kyarra S.a r.l.

563 Rock Rhine S.à r.l.

564 Rock Rossmarkt S.ar.l.

565 Rock UK Real Estate II S.a.r.l.

566 Rosado Grande LLC

567 Ross Avenue Minerals 2012, LLC

568 The Prudential Assigned Settlement Services Corp.

569 The Prudential Brazilian Capital Fund LP

570 Times Square Center Associates


572 The Prudential Real Estate Financial Services of America, Inc.

573 Vantage Casualty Insurance Company

574 Yavapai LLC





1 Performance of the Fund (Absolute Growth % )

Year of For the Year For the Year For the Year Since Inception For the Year Since Inception

Inception 2018-19 2017-18 (X-1) 2016-17 (X-2) 2015-16 (X-2)

Debt Fund 2008-09 7.39% 4.99% 9.74% 7.54% 7.19% 7.56%

Balanced Fund 2008-09 8.83% 6.00% 13.15% 9.10% 2.01% 9.13%

Growth Fund 2008-09 10.42% 6.80% 16.23% 9.91% -2.96% 9.86%

Large Cap Equity Fund 2008-09 12.97% 8.43% 19.74% 10.93% -8.65% 10.72%

Liquid Fund 2010-11 5.57% 4.88% 5.47% 6.35% 6.40% 6.46%

Multicap Opportunity Fund 2018-19 12.32% - - 12.32% - -

Discontinued Policy Fund 2010-11 6.24% 5.77% 6.44% 7.33% 7.60% 7.48%

Pension Debt Fund 2008-09 4.53% 4.10% 8.98% 6.71% 7.24% 6.95%

Pension Balanced Fund 2008-09 7.98% 5.12% 13.31% 9.20% 2.19% 9.34%

Pension Growth Fund 2008-09 10.00% 7.01% 16.63% 12.23% -2.88% 12.47%

Pension Dynamic Equity Fund 2008-09 11.45% 8.60% 19.56% 13.25% -8.73% 13.45%

2 Investment Management

- Activities outsourced : Nil

- Fee paid for various activities charged to Policyholders’ Account

Fees Charged to Policyholder's Account

Fund Policy Admin Mortality Rider Surrender charge Switching Discontinuance Debt Fund 5,625 3,203 2,678 - - 91 268

Balanced Fund 5,778 3,773 2,312 - - 1 311

Growth Fund 8,568 4,816 3,199 - - 3 420

Large Cap Fund 18,322 11,178 8,661 - - 80 1,076

Liquid Fund 251 92 72 - - - -

Multi Cap Opportunity Fund 67 13 11 - - - -

Discontinued Policy Fund 1,325 2 3 - - - (0)

Pension Debt Fund 192 43 - - - - -

Pension Balanced Fund 172 28 - - - - -

Pension Growth Fund 221 46 - - - - -

Pension Dynamic Equity Fund 1,362 252 - - - - -

Total 41,883 23,446 16,935 - - 175 2,075

Fees Charged to Policyholder's Account

Fund Policy Admin Mortality Rider Surrender charge Switching Discontinuance Debt Fund 4,929 3,369 2,622 9 - 73 100

Balanced Fund 4,977 3,983 2,249 37 - 6 88

Growth Fund 7,108 4,632 3,614 27 - 4 167

Large Cap Fund 13,472 8,909 7,191 34 - 70 315

Liquid Fund 154 68 9 - - - -

Discontinued Policy Fund 1,174 34 35 - - 3 19

Pension Debt Fund 223 42 - - - - -

Pension Balanced Fund 182 29 - - - - -

Pension Growth Fund 247 48 - - - - -

Pension Dynamic Equity Fund 1,509 258 - - - - -

Total 33,975 21,373 15,720 107 - 156 689

Basis of payment of fees

Fund Management Expenses % of NAVPolicy Admin Charges Charges applicable p.aSwitching Charge Expense per SwitchMortality Charge As per Mortality tableRider Premium Charge As per rider charges in the policy documentSurrender charge As per surrender charges in the policy documentDiscontinuance charges As per discontiniuation charges in the policy document

3 March-19 March-18

Nil Nil

1,490,413 934,780 o Company-wise details of investments held in the Promoter Group along with

its percentage to funds under management. This information is required to be

given fund-wise and also for total funds under ULIPs.

Fund Name

Annexure-2 Disclosures For ULIP Business

o Brokerage, custodial fee or any other payments and receipts made to/from

related parties (as defined in AS 18 issued by ICAI)

DescriptionMarch-19

DescriptionMarch-18

Related party transactions – Fund wise details

Year Ended March 31, 2019 Year Ended March 31, 2018





Investments held in the Promoter Group as at the end of the March 31, 2019

SFINULIF00227/08/0

8BALANCFUND1

40

ULIF00327/08/0

8GROWTHFUND

140

ULIF00127/08/08

FIXEDIFUND140

9.05% Dewan Housing Finance Corporation Ltd 20218,109 8,109 14,191 30,409

9.10% Dewan Housing Finance Corporation Ltd 16 Aug

2021 1,970 1,477 1,477 4,925

9.60% Aadhar Housing Finance Ltd 29 Sep 2021- 4,123 6,185 10,309

AUM 448,457 664,293 465,546 1,578,296

% of Fund 2.25% 2.06% 4.69% 2.89%

Investments held in the Promoter Group as at the end of the March 31, 2018

SFINULIF00127/08/0

8FIXEDIFUND140

ULIF00227/08/0

8BALANCFUND1

40

ULIF00327/08/08

GROWTHFUND14

0

9.05% Dewan Housing Finance Corporation Ltd 09 Sep

2023 - - - -

9.05% Dewan Housing Finance Corporation Ltd 2021 14,601 8,343 8,343 31,287

9.10% Dewan Housing Finance Corporation Ltd 16 Aug

2021 1,519 2,025 1,519 5,063

9.25% Dewan Housing Finance Corporation Ltd 09

September 2023 - - - -

AUM 444,677 391,495 582,187 1,418,359

% of Fund 3.63% 2.65% 1.69% 2.56%

4 : Nil Nil

5 Unclaimed redemptions of units (represent unclaimed amount for claims) : : Nil Nil

6 Net Asset Value (NAV) : Highest, Lowest and Closing at the end of the March 31, 2019

Fund Name Highest NAV Lowest NAV Closing NAV

Debt Fund 21.6105 19.8127 21.6105

Balanced Fund 25.1659 23.0226 25.1659

Growth Fund 27.2196 24.3871 27.2196

Large Cap Equity Fund 30.2728 26.0730 30.0086

Liquid Fund 16.5658 15.6967 16.5658

Multicap Opportunity Fund 11.2086 9.7254 11.2076

Discontinued Policy Fund 17.7370 16.7003 17.7370

Pension Debt Fund 19.3244 18.0515 19.3244

Pension Balanced Fund 24.4255 22.4990 24.4255

Pension Growth Fund 32.2152 28.8484 32.2152

Pension Dynamic Equity Fund 36.0833 31.0115 35.322

Net Asset Value (NAV) : Highest, Lowest and Closing at the end of the March 31, 2018

Fund Name Highest NAV Lowest NAV Closing NAV

Debt Fund 20.1241 19.0737 20.1241

Balanced Fund 23.7568 21.7917 23.1231

Growth Fund 26.2321 23.0359 24.6503

Large Cap Equity Fund 29.4087 24.4250 26.5625

Liquid Fund 15.6925 14.9681 15.6925

Discontinued Policy Fund 16.6953 15.7913 16.6953

Pension Debt Fund 18.4865 17.6503 18.4865

Pension Balanced Fund 23.2849 21.4934 22.6197

Pension Growth Fund 31.1940 27.3313 29.2857

Pension Dynamic Equity Fund 35.1196 29.104 31.6937

7 Expenses Charges to Fund %Annualized expense ratio to average daily assets

of the Fund

Fund NameRatios

Mar-19

Ratios

Mar-18

Debt Fund 1.41% 1.41%

Balanced Fund 1.59% 1.58%

Growth Fund 1.59% 1.58%

Large Cap Equity Fund 1.57% 1.58%

Liquid Fund 1.42% 1.41%

Multicap Opportunity Fund 0.77%

Discontinued Policy Fund 0.59% 0.59%

Pension Debt Fund 1.41% 1.41%

Pension Balanced Fund 1.59% 1.58%

Pension Growth Fund 1.59% 1.58%

Pension Dynamic Equity Fund 1.58% 1.58%

Fund Name BALANCED FUND

Fund Name DEBT FUND BALANCE FUND GROWTH FUND

TOTAL

Provision for doubtful debts on assets of the respective Fund

GROWTH FUND DEBT FUND

TOTAL





8 Ratio of gross income (including unrealized gains) to average daily net assetsFund Name Ratios Ratios

Debt Fund 8.71% 6.08%

Balanced Fund 10.24% 7.23%

Growth Fund 11.54% 7.41%Large Cap Equity Fund 13.70% 8.16%Liquid Fund 6.94% 6.17%Multicap Opportunity Fund 15.09%Discontinued Policy Fund 6.66% 6.20%Pension Debt Fund 5.51% 5.43%Pension Balanced Fund 9.42% 6.71%

Pension Growth Fund 11.30% 8.51%

Pension Dynamic Equity Fund 12.42% 10.35%

9 Fund-wise disclosure of appreciation and/or (depreciation) in value of investments segregated class-wise March-19

Fund Name Bonds EquityGovernment

SecuritiesMoney Market Total

Debt Fund 4,360 - (517) 7 3,850

Balanced Fund 3,943 31,253 748 6 35,949

Growth Fund 1,605 90,434 108 841 92,987

Large Cap Equity Fund - 264,922 - 22,751 287,672

Liquid Fund - - - - -

Multicap Opportunity Fund - 1,502 - - 1,502

Discontinued Policy Fund - - - 15 15

Pension Debt Fund 197 - (62) 1 136

Pension Balanced Fund (27) 1,040 (1) - 1,012

Pension Growth Fund (46) 2,583 (10) - 2,528

Pension Dynamic Equity Fund - 22,491 - 292 22,783

March-18

Fund Name Bonds Equity Government

Securities

Money Market Total

Debt Fund 3,350 - (7,316) - (3,966)

Balanced Fund 2,941 19,067 (3,100) - 18,908

Growth Fund 1,553 53,953 (2,079) 7 53,434

Large Cap Equity Fund - 158,345 - 41 158,386

Liquid Fund - - - 0 0

Discontinued Policy Fund - - - 2 2

Pension Debt Fund 286 - (368) - (82)

Pension Balanced Fund 131 749 (110) 2 772

Pension Growth Fund (8) 2,157 (116) - 2,033

Pension Dynamic Equity Fund - 19,043 - 3 19,046



SCHEDULES ANNEXED TO AND FORMING PART OF FINANCIAL STATEMENTS FOR THE YEAR ENDED March 31, 2019(All Amounts in Thousand of Indian Rupees, unless otherwise stated)

10 Statement Of Industry Wise Disclosure Of Investments (with exposure of 10% and above) - Current Year Mar 2019

S.No INDUSTRY SECTOR INVESTMENTS NAME Asset Type INVESTMENTSTOTAL INVESTMENT

IN INDUSTRY

% TO TOTAL

INVESTMENT

S7.95% HDFC Bank 21 Sepember 2026 Corporate Bond 4,9208.00% IDFC Bank 21 Feb 2021 (Cumulative) Corporate Bond 3,0208.38% IDFC First Bank Ltd 15-Jun-2027 Corporate Bond 7,9228.85% PNB Housing Finance Ltd 09-Nov-2019 Corporate Bond 3,0259% Shriram Transport Finance Co Ltd NCD 28-Mar-2028 Corporate Bond 5,1299.30% Shriram Transport Finance Co Ltd NCD 18-Mar-2026 Corporate Bond 2,0779.40% Shriram Transport Finance Co Ltd NCD 12-July-2028 Corporate Bond 3,1599.42% Fullerton India Credit Co Ltd 9-Dec-2019 Corporate Bond 1,0139.50% FD CANARA BANK 17-FEB-2021. Fixed Deposit 2,0009.55% Kotak Mahindra Prime 20- Aug- 2019 Corporate Bond 4,0219.65% ICICI Securities Primary Dealership Ltd. 17-May-2022 Corporate Bond 13,7209.83 Bajaj Finance Ltd. 18-May-2021 Corporate Bond 2,084Axis Bank Ltd. Equity 4,376Bank Of Baroda Equity 1,391Bank Of India Equity 927H D F C Bank Ltd. Equity 11,168Housing Development Finance Corpn. Ltd. Equity 9,629I C I C I Bank Ltd. Equity 8,246IDFC First Bank Limited Equity 922Kotak Mahindra Bank Ltd. Equity 4,204State Bank Of India Equity 3,665Yes Bank Ltd. Equity 2,217364 Day T-BILL 18 October 2019 Treasury Bills 1,9247.17% GOI 08-Jan-2028 Government Securities 4,8997.40% GOI 09-Sep-2035 Government Securities 2,9317.50% GOI 10-Aug-2034 Government Securities 7,9207.61% GOI 09-May-2030 Government Securities 5,0287.68% GOI 15-Dec-2023 Government Securities 10,2957.72% GOI 25- May-2025 Government Securities 5,6477.80% GOI 11-APR-2021 Government Securities 5,1178.15% GOI 24-Nov-2026 Government Securities 20,7338.24% GOI 15-Feb-2027 Government Securities 34,9818.26% GOI 02-AUG-2027 Government Securities 10,4779.20% GOI 30-Sep-2030 Government Securities 1,1227.03% Rural Electrification Corporation Ltd. 07-Sep-2022 Corporate Bond 7,8618% India Infra Debt Ltd 26-July-2022 Corporate Bond 22,2558.64% Power Grid Corporation India Ltd. 08-Jul-2019 Corporate Bond 3,7538.97% Rural Electrification Corporation Ltd. 28-Mar-2029 Corporate Bond 20,9969.10% Power Finance Ltd 25-Mar-2029 Corporate Bond 15,8759.30% India Infra Debt Ltd 19-June-2024 Corporate Bond 2,1289.39% Power Finance Corporation Ltd. 29-Jun-2022 Corporate Bond 8,020Bharat Petroleum Corpn. Ltd Equity 1,395Bharti Airtel Ltd Equity 972G A I L (India) Ltd. Equity 2,257GAYATRI PROJECTS LIMITED Equity 1,356Larsen & Toubro Ltd. Equity 6,677N T P C Ltd. Equity 669Oil & Natural Gas Corpn. Ltd. Equity 1,384Power Grid Corpn. Of India Ltd. Equity 984Computer programming, consultancy and related activities Various 19,981Investments in Housing Finance Various 32,599Manufacture of basic metals Various 2,611Manufacture of chemicals and chemical products Various 7,519Manufacture of coke and refined petroleum products Various 15,977Manufacture of motor vehicles, trailers and semi-trailers Various 8,665Manufacture of other non-metallic mineral products Various 3,618Manufacture of other transport equipment Various 2,800Manufacture of pharmaceuticals, medicinal chemical and botanical Various 4,892Manufacture of rubber and plastics products Various 2,095Manufacture of textiles Various 1,111Manufacture of tobacco products Various 7,899Mining of Coal and Lignite Various 1,156Mining of Metal Ores Various 965Mutual Fund - Liquid Various 6,806Real estate activities Various 1,019Water transport Various 689Wholesale trade, except of motor vehicles and motorcycles Various 18,766Net current assets Net current assets 2,798

Total 448,457 100.00%

Balanced Fund

1 Financial and insurance activities 98,834 22.04%

2 GOVERNMENT SECURITIES 111,074 24.77%

3 Infrastructure Sector 96,583 21.54%

4 other 141,966 31.66%





7.95% HDFC Bank 21 Sepember 2026 Corporate Bond 4,9208.00% IDFC Bank 12 Nov 2020 (Cumulative) Corporate Bond 8,2438.23% PNB Housing Finance Ltd 09-Apr-2019 Corporate Bond 2,0008.38% IDFC First Bank Ltd 15-Jun-2027 Corporate Bond 2,9718.70% IDFC Bank 21 Mar 2022 (Cumulative) Corporate Bond 3,8679% Shriram Transport Finance Co Ltd NCD 28-Mar-2028 Corporate Bond 5,1299.30% Shriram Transport Finance Co Ltd NCD 18-Mar-2026 Corporate Bond 5,1939.40% Shriram Transport Finance Co Ltd NCD 12-July-2028 Corporate Bond 5,264

9.42% Fullerton India Credit Co Ltd 9-Dec-2019 Corporate Bond 3,038

9.50% FD CANARA BANK 17-FEB-2021. Fixed Deposit 1,2009.55% Kotak Mahindra Prime 20- Aug- 2019 Corporate Bond 6,0319.60% Aadhar Housing Finance Ltd 29 Sep 2021 Corporate Bond 6,1859.65% ICICI Securities Primary Dealership Ltd. 17-May-2022 Corporate Bond 6,3329.70% Sundram BNP Paribas Home Finance Ltd 26-Sep-2019. Corporate Bond 8,0649.75% Cholamandalam Investment and Finance Co. Ltd 23-Aug-2028Corporate Bond 4,3019.83 Bajaj Finance Ltd. 18-May-2021 Corporate Bond 11,4626.84% GOI 19-December-2022 Government Securities 10,0207.17% GOI 08-Jan-2028 Government Securities 12,7377.50% GOI 10-Aug-2034 Government Securities 9,6037.59% GOI 11-Jan-2026 Government Securities 20,3107.59% GOI 20-Mar-2029 Government Securities 40,0957.68% GOI 15-Dec-2023 Government Securities 25,7387.72% GOI 25- May-2025 Government Securities 26,7997.80% GOI 11-APR-2021 Government Securities 20,4668.15% GOI 24-Nov-2026 Government Securities 30,8138.20% GOI 15-FEB-2022 Government Securities 6,2318.24% GOI 15-Feb-2027 Government Securities 32,5588.26% GOI 02-AUG-2027 Government Securities 4,7158.28% GOI 15-Feb-2032 Government Securities 10,5398.33 GOI 09-Jul-2026 Government Securities 9,4868.60% GOI 02-Jun-2028 Government Securities 1,4338% India Infra Debt Ltd 26-July-2022 Corporate Bond 6,0708.11% Rural Electrification Corporation Ltd. Ltd NCD 7-Oct-2025 Corporate Bond 3,9748.30% Power Finance Corporation Ltd. 31-Mar-2021(Cumulative) Corporate Bond 6,6588.44% Rural Electrification Corporation Ltd. 04-Dec-2021 Corporate Bond 3,0608.49% IDFC Infrastructure Financial Ltd. 22-Aug-2023 Corporate Bond 4,1099.10% Power Finance Ltd 25-Mar-2029 Corporate Bond 21,1679.30% India Infra Debt Ltd 19-June-2024 Corporate Bond 7,4489.39% Power Finance Corporation Ltd. 29-Jun-2022 Corporate Bond 1,003Investments in Housing Finance Various 27,821Manufacture of rubber and plastics products Various 1,047Mutual Fund - Liquid Various 7,407Wholesale trade, except of motor vehicles and motorcycles Various 15,720Net current assets Net current assets 14,321

Total 465,545 100.00%

182 Day T-BILL 08 August 2019 Treasury Bills 7,485364 Day T-BILL 03 October 2019 Treasury Bills 48,264364 Day T-BILL 06 June 2019 Treasury Bills 9,883364 Day T-BILL 06 September 2019 Treasury Bills 4,851364 Day T-BILL 08 August 2019 Treasury Bills 26,842364 Day T-BILL 10 October 2019 Treasury Bills 30,961364 Day T-BILL 13 June 2019 Treasury Bills 49,348364 Day T-BILL 18 October 2019 Treasury Bills 22,124364 Day T-BILL 20 June 2019 Treasury Bills 29,566364 Day T-BILL 20 September 2019 Treasury Bills 20,787364 Day T-BILL 22 August 2019 Treasury Bills 4,867

364 Day T-BILL 23 May 2019 Treasury Bills 39,635

364 Day T-BILL 31 October 2019 Treasury Bills 9,618Mutual Fund - Liquid Various 16,415Net current assets Net current assets -4,464

Total 316,183 100.00%

4 other 66,315 14.24%

Debt Fund

S.No INDUSTRY SECTOR

Discontinued Policy Fund

S.No INDUSTRY SECTOR INVESTMENTS NAME



Asset Type INVESTMENTSTOTAL INVESTMENT

IN INDUSTRY

% TO TOTAL

INVESTMENT

INVESTMENTS NAME Asset Type INVESTMENTSTOTAL INVESTMENT

IN INDUSTRY

% TO TOTAL

INVESTMENT



2 other 11,950 3.78%





7.95% HDFC Bank 21 Sepember 2026 Corporate Bond 9,8408.38% IDFC First Bank Ltd 15-Jun-2027 Corporate Bond 3,9619.30% Shriram Transport Finance Co Ltd NCD 18-Mar-2026 Corporate Bond 3,1169.40% Shriram Transport Finance Co Ltd NCD 12-July-2028 Corporate Bond 2,1069.50% FD CANARA BANK 17-FEB-2021. Fixed Deposit 3,3009.60% Aadhar Housing Finance Ltd 29 Sep 2021 Corporate Bond 4,123Axis Bank Ltd. Equity 11,094

Bank Of Baroda Equity 3,365

Bank Of India Equity 2,330H D F C Bank Ltd. Equity 33,967Housing Development Finance Corpn. Ltd. Equity 30,079I C I C I Bank Ltd. Equity 21,847IDFC First Bank Limited Equity 2,025Kotak Mahindra Bank Ltd. Equity 12,088State Bank Of India Equity 9,075Yes Bank Ltd. Equity 4,998364 Day T-BILL 18 October 2019 Treasury Bills 6,7337.35% GOI 22-June-2024 Government Securities 13,2087.40% GOI 09-Sep-2035 Government Securities 8,7937.59% GOI 11-Jan-2026 Government Securities 10,1557.61% GOI 09-May-2030 Government Securities 5,0287.68% GOI 15-Dec-2023 Government Securities 5,1487.72% GOI 25- May-2025 Government Securities 12,8357.80% GOI 11-APR-2021 Government Securities 9,2108.15% GOI 24-Nov-2026 Government Securities 12,2948.24% GOI 15-Feb-2027 Government Securities 10,4428.26% GOI 02-AUG-2027 Government Securities 2,6199.20% GOI 30-Sep-2030 Government Securities 2,2457.03% Rural Electrification Corporation Ltd. 07-Sep-2022 Corporate Bond 11,7928% India Infra Debt Ltd 26-July-2022 Corporate Bond 21,2438.11% Rural Electrification Corporation Ltd. Ltd NCD 7-Oct-2025 Corporate Bond 4,9678.49% IDFC Infrastructure Financial Ltd. 22-Aug-2023 Corporate Bond 11,2998.50% Power Finance Corporation Ltd. 21-Nov-2021 Cumulative Corporate Bond 3,1199.10% Power Finance Ltd 25-Mar-2029 Corporate Bond 15,8759.39% Power Finance Corporation Ltd. 29-Jun-2022 Corporate Bond 8,020Bharat Petroleum Corpn. Ltd Equity 4,113Bharti Airtel Ltd Equity 2,397G A I L (India) Ltd. Equity 5,176GAYATRI PROJECTS LIMITED Equity 4,658Larsen & Toubro Ltd. Equity 20,099N T P C Ltd. Equity 2,167Oil & Natural Gas Corpn. Ltd. Equity 3,917Power Grid Corpn. Of India Ltd. Equity 3,774Computer programming, consultancy and related activities Various 58,120Investments in Housing Finance Various 29,931Manufacture of basic metals Various 8,069Manufacture of chemicals and chemical products Various 19,551Manufacture of coke and refined petroleum products Various 43,952Manufacture of electrical equipment Various 2,394Manufacture of motor vehicles, trailers and semi-trailers Various 24,891Manufacture of other non-metallic mineral products Various 12,082Manufacture of other transport equipment Various 8,966Manufacture of pharmaceuticals, medicinal chemical and botanical Various 14,127Manufacture of textiles Various 2,809Manufacture of tobacco products Various 22,336Mining of Coal and Lignite Various 2,812Mining of Metal Ores Various 3,475Mutual Fund - Liquid Various 11,759Real estate activities Various 2,914Water transport Various 1,427Wholesale trade, except of motor vehicles and motorcycles Various 10,419Net current assets Net current assets 5,620

Total 664,293 100.00%

H C L Technologies Ltd. Equity 18,800Infosys Ltd Equity 94,660Tata Consultancy Services Ltd. Equity 62,714Tech Mahindra Limited Equity 19,484Wipro Ltd. Equity 1Axis Bank Ltd. Equity 26,360Bank Of Baroda Equity 11,449Bank Of India Equity 6,705H D F C Bank Ltd. Equity 83,200Housing Development Finance Corpn. Ltd. Equity 87,943I C I C I Bank Ltd. Equity 79,904IDFC First Bank Limited Equity 5,836Kotak Mahindra Bank Ltd. Equity 24,297

State Bank Of India Equity 33,998

Yes Bank Ltd. Equity 17,773Bharat Petroleum Corpn. Ltd Equity 13,401Bharti Airtel Ltd Equity 7,288BHARTI INFRATEL LIMITED Equity 8,612G A I L (India) Ltd. Equity 18,187GAYATRI PROJECTS LIMITED Equity 19,832Larsen & Toubro Ltd. Equity 70,053N T P C Ltd. Equity 6,829Oil & Natural Gas Corpn. Ltd. Equity 15,687Power Grid Corpn. Of India Ltd. Equity 10,267Aditya Birla Sun Life Cash Plus - Growth - Direct Plan Mutual Fund 71,063Kotak Mahindra MF - Kotak Banking ETF - Dividend Payout OptionExchange traded Fund 63,978Reliance ETF Bank Bees Exchange traded Fund 43,655SBI-ETF Nifty Bank Exchange traded Fund 32,189Manufacture of basic metals Various 25,079Manufacture of chemicals and chemical products Various 68,605Manufacture of coke and refined petroleum products Various 150,800Manufacture of electrical equipment Various 8,939Manufacture of motor vehicles, trailers and semi-trailers Various 83,546Manufacture of other non-metallic mineral products Various 37,124Manufacture of other transport equipment Various 29,617Manufacture of pharmaceuticals, medicinal chemical and botanical Various 48,866Manufacture of textiles Various 13,820Manufacture of tobacco products Various 72,716Mining of Coal and Lignite Various 10,578Mining of Metal Ores Various 10,762Real estate activities Various 10,844Water transport Various 4,411Net current assets Net current assets 33,362

Total 1,563,236 100.00%



4 other 285,653 43.00%

Large Cap Equity Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT


Growth Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT

1Computer programming,

consultancy and related activities195,659 12.52%

4 Mutual Fund - Liquid 210,884 13.49%

5 other 609,069 38.96%







364 Day T-BILL 06 September 2019 Treasury Bills 4,851364 Day T-BILL 08 August 2019 Treasury Bills 12,201364 Day T-BILL 13 June 2019 Treasury Bills 4,935364 Day T-BILL 20 September 2019 Treasury Bills 8,216

2 other Net current assets Net current assets -8,544 -8,544 -39.45%Total 21,659 100.00%

H D F C Bank Ltd. Equity 2,082

I C I C I Bank Ltd. Equity 2,108

Yes Bank Ltd. Equity 1,008

2 Computer programming, Infosys Ltd Equity 2,116 2,116 10.81%G A I L (India) Ltd. Equity 1,069Larsen & Toubro Ltd. Equity 1,953

4Manufacture of coke and refined

petroleum productsReliance Industries Ltd. Equity 2,312 2,312 11.81%

Manufacture of chemicals and chemical products Various 1,007Manufacture of motor vehicles, trailers and semi-trailers Various 1,728Manufacture of other non-metallic mineral products Various 1,020Manufacture of pharmaceuticals, medicinal chemical and botanical Various 793

Manufacture of tobacco products Various 1,043

Net current assets Net current assets 1,330Total 19,570 100.00%

9.42% Fullerton India Credit Co Ltd 9-Dec-2019 Corporate Bond 1,013Axis Bank Ltd. Equity 122Bank Of Baroda Equity 31Bank Of India Equity 29H D F C Bank Ltd. Equity 373Housing Development Finance Corpn. Ltd. Equity 270I C I C I Bank Ltd. Equity 238IDFC First Bank Limited Equity 34Kotak Mahindra Bank Ltd. Equity 96State Bank Of India Equity 92Yes Bank Ltd. Equity 70364 Day T-BILL 18 October 2019 Treasury Bills 4817.35% GOI 22-June-2024 Government Securities 1,2197.80% GOI 11-APR-2021 Government Securities 5128.24% GOI 15-Feb-2027 Government Securities 2,0888.11% Rural Electrification Corporation Ltd. Ltd NCD 7-Oct-2025 Corporate Bond 9939.39% Power Finance Corporation Ltd. 29-Jun-2022 Corporate Bond 1,003Bharat Petroleum Corpn. Ltd Equity 42G A I L (India) Ltd. Equity 72GAYATRI PROJECTS LIMITED Equity 89Larsen & Toubro Ltd. Equity 215N T P C Ltd. Equity 23Oil & Natural Gas Corpn. Ltd. Equity 57Power Grid Corpn. Of India Ltd. Equity 34Computer programming, consultancy and related activities Various 529Investments in Housing Finance Various 1,024Manufacture of basic metals Various 81Manufacture of chemicals and chemical products Various 227Manufacture of coke and refined petroleum products Various 499Manufacture of motor vehicles, trailers and semi-trailers Various 278Manufacture of other non-metallic mineral products Various 79Manufacture of other transport equipment Various 92Manufacture of pharmaceuticals, medicinal chemical and botanical Various 154Manufacture of textiles Various 21Manufacture of tobacco products Various 245Mining of Coal and Lignite Various 28Mining of Metal Ores Various 39Real estate activities Various 37Wholesale trade, except of motor vehicles and motorcycles Various 1,036Net current assets Net current assets -593

Total 12,972 100.00%

7.35% GOI 22-June-2024 Government Securities 8137.40% GOI 09-Sep-2035 Government Securities 9777.80% GOI 11-APR-2021 Government Securities 5128.15% GOI 24-Nov-2026 Government Securities 3,1348.79% GOI 08-NOV-2021 Government Securities 2,1009.65% ICICI Securities Primary Dealership Ltd. 17-May-2022 Corporate Bond 1,0559.75% Cholamandalam Investment and Finance Co. Ltd 23-Aug-2028Corporate Bond 1,075

9.30% India Infra Debt Ltd 19-June-2024 Corporate Bond 1,064

9.39% Power Finance Corporation Ltd. 29-Jun-2022 Corporate Bond 1,003

Manufacture of rubber and plastics products Various 1,047

Mutual Fund - Liquid Various 801Wholesale trade, except of motor vehicles and motorcycles Various 1,036Net current assets Net current assets -1,080

Total 13,536 100.00%

Liquid Fund

GOVERNMENT SECURITIES 30,203 139.45%


3 Infrastructure Sector


IN INDUSTRY

% TO TOTAL

INVESTMENT

1

Multicap Opportunity Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT

1 Financial and insurance activities

3 Infrastructure Related Activities 2,066 15.27%

4 other 1,804 13.33%

5,198 26.56%


5 other 6,921 35.37%

2,369 18.26%

Pension Balance


IN INDUSTRY

% TO TOTAL

INVESTMENT

1 Financial and insurance activities

2,528 19.49%

Asset Type INVESTMENTSTOTAL INVESTMENT

IN INDUSTRY

% TO TOTAL

INVESTMENT


4 other 3,775 29.10%

Pension Debt

S.No INDUSTRY SECTOR INVESTMENTS NAME






H C L Technologies Ltd. Equity 1,410Infosys Ltd Equity 6,698Tata Consultancy Services Ltd. Equity 4,239Tech Mahindra Limited Equity 966Wipro Ltd. Equity 1Axis Bank Ltd. Equity 1,837Bank Of Baroda Equity 500Bank Of India Equity 449H D F C Bank Ltd. Equity 6,006Housing Development Finance Corpn. Ltd. Equity 6,019I C I C I Bank Ltd. Equity 4,788IDFC First Bank Limited Equity 670Kotak Mahindra Bank Ltd. Equity 1,551State Bank Of India Equity 2,370Yes Bank Ltd. Equity 636Bharat Petroleum Corpn. Ltd Equity 821Bharti Airtel Ltd Equity 539G A I L (India) Ltd. Equity 1,189GAYATRI PROJECTS LIMITED Equity 1,862Larsen & Toubro Ltd. Equity 4,738N T P C Ltd. Equity 596Oil & Natural Gas Corpn. Ltd. Equity 1,138Power Grid Corpn. Of India Ltd. Equity 699Hindustan Petroleum Corpn. Ltd. Equity 720Indian Oil Corpn. Ltd. Equity 1,099Reliance Industries Ltd. Equity 9,236Manufacture of basic metals Various 2,143Manufacture of chemicals and chemical products Various 4,653Manufacture of electrical equipment Various 326Manufacture of motor vehicles, trailers and semi-trailers Various 7,140Manufacture of other non-metallic mineral products Various 2,274Manufacture of other transport equipment Various 1,733Manufacture of pharmaceuticals, medicinal chemical and botanical Various 3,864Manufacture of textiles Various 622Manufacture of tobacco products Various 5,010Mining of Coal and Lignite Various 717Mining of Metal Ores Various 1,096Mutual Fund - Liquid Various 7,970Real estate activities Various 793Water transport Various 552Net current assets Net current assets -1,509

Total 98,162 100.00%

Axis Bank Ltd. Equity 249

Bank Of Baroda Equity 85

Bank Of India Equity 66

H D F C Bank Ltd. Equity 742

Housing Development Finance Corpn. Ltd. Equity 724I C I C I Bank Ltd. Equity 511IDFC First Bank Limited Equity 92Kotak Mahindra Bank Ltd. Equity 238State Bank Of India Equity 257Yes Bank Ltd. Equity 867.40% GOI 09-Sep-2035 Government Securities 9777.72% GOI 25- May-2025 Government Securities 1,0278% India Infra Debt Ltd 26-July-2022 Corporate Bond 1,0128.44% Rural Electrification Corporation Ltd. 04-Dec-2021 Corporate Bond 1,0208.84% Power Grid Corporation India Ltd. 21-Oct-2020 Corporate Bond 1,271Bharat Petroleum Corpn. Ltd Equity 80G A I L (India) Ltd. Equity 78GAYATRI PROJECTS LIMITED Equity 196Larsen & Toubro Ltd. Equity 405N T P C Ltd. Equity 72Oil & Natural Gas Corpn. Ltd. Equity 105Power Grid Corpn. Of India Ltd. Equity 84Computer programming, consultancy and related activities Various 1,262Manufacture of basic metals Various 239Manufacture of chemicals and chemical products Various 564Manufacture of coke and refined petroleum products Various 1,047Manufacture of motor vehicles, trailers and semi-trailers Various 711Manufacture of other non-metallic mineral products Various 209Manufacture of other transport equipment Various 161Manufacture of pharmaceuticals, medicinal chemical and botanical Various 371Manufacture of textiles Various 63Manufacture of tobacco products Various 496Mining of Coal and Lignite Various 55Mining of Metal Ores Various 101Real estate activities Various 79Net current assets Net current assets -1,009

Total 13,725 100.00%



1Computer programming,

consultancy and related activities13,315 13.56%

4 other 4,349 31.69%


IN INDUSTRY

% TO TOTAL

INVESTMENT




Pension Dynamic Equity Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT

4Manufacture of coke and refined

petroleum products11,055 11.26%

5 other 37,385 38.09%

Pension Growth Fund




10. Statement Of Industry Wise Disclosure Of Investments (with exposure of 10% and above) - Previous Year Mar 2018


IN INDUSTRY

% TO TOTAL

INVESTMENT

S

7.95% HDFC Bank 21 Sepember 2026 Corporate Bond 4,966

8.00% IDFC Bank 21 Feb 2021 (Cumulative) Corporate Bond 3,061

8.38% Capital First Limited 15-Jun-2027 Corporate Bond 7,996

8.85% PNB Housing Finance Ltd 09-Nov-2019 Corporate Bond 3,054

9% Shriram Transport Finance Co Ltd NCD 28-Mar-2028 Corporate Bond 5,218

9.30% Shriram Transport Finance Co Ltd NCD 18-Mar-2026 Corporate Bond 2,104


9.55% Kotak Mahindra Prime 20- Aug- 2019 Corporate Bond 4,100

9.65% ICICI Securities Primary Dealership Ltd. 17-May-2022 Corporate Bond 13,828

9.70% Sundram BNP Paribas Home Finance Ltd 26-Sep-2019. Corporate Bond 4,101

9.83 Bajaj Finance Ltd. 18-May-2021 Corporate Bond 5,304

9.97% HDB Financial Services Ltd. 28-Dec-2018 Corporate Bond 6,107

9.50% FD CANARA BANK 17-FEB-2021. Fixed Deposit 2,000

Axis Bank Ltd. Equity 2,556



Equitas Holdings Limited Equity 591


Housing Development Finance Corpn. Ltd. Equity 5,521


IDFC Bank Ltd Equity 787

IndusInd Bank Limited Equity 2,948

Kotak Mahindra Bank Ltd. Equity 1,912


Yes Bank Ltd. Equity 911

7.35% GOI 22-June-2024 Government Securities 17,908

7.50% GOI 10-Aug-2034 Government Securities 7,875

7.68% GOI 15-Dec-2023 Government Securities 4,060

7.72% GOI 25- May-2025 Government Securities 9,595

8.15% GOI 24-Nov-2026 Government Securities 8,248

8.20% GOI Bond 24-Sep-2025 Government Securities 4,144

8.24% GOI 10- Nov-2033 Government Securities 2,939

8.24% GOI 15-Feb-2027 Government Securities 5,692

8.26% GOI 02-AUG-2027 Government Securities 5,192

8.33 GOI 09-Jul-2026 Government Securities 2,605

8.40% GOI 28-Jul-2024 Government Securities 16,800

8.60% GOI 02-Jun-2028 Government Securities 10,586

9.20% GOI 30-Sep-2030 Government Securities 1,118

7.03% Rural Electrification Corporation Ltd. 07-Sep-2022 Corporate Bond 7,774

8% India Infra Debt Ltd 26-July-2022 Corporate Bond 22,169

8.64% Power Grid Corporation India Ltd. 08-Jul-2019 Corporate Bond 3,797

8.7% L&T Infrastructure Finance Company Limited 24-Mar-2022 (cumulative)Corporate Bond 11,432

9% L&T Infrastructure Finance Company Limited 10-Jan-2022 (cumulative)Corporate Bond 6,099

9.10% India Infra Debt Ltd 20-Jun -2022 Corporate Bond 5,230

9.35% Power Grid Corporation India Ltd. 29-Aug-2022 Corporate Bond 7,389


9.48% Power Finance Corporation Ltd. 15-Apr-2022 Corporate Bond 4,237

9.98% Infrastructure Leasing & Financial Services Ltd. 05-Dec-2021 Corporate Bond 2,145

Adani Ports & Special Economic Zone Ltd Equity 1,450

Bharat Petroleum Corpn. Ltd Equity 1,500

Bharti Airtel Ltd Equity 1,164

BHARTI INFRATEL LIMITED Equity 1,012

G A I L (India) Ltd. Equity 1,015

Larsen & Toubro Ltd. Equity 4,504

N T P C Ltd. Equity 702

Oil & Natural Gas Corpn. Ltd. Equity 2,153

Power Grid Corpn. Of India Ltd. Equity 961

Torrent Power Ltd Equity 795

Computer programming, consultancy and related activities Various 15,208

Investments in Housing Finance Various 12,433

Manufacture of basic metals Various 2,190

Manufacture of chemicals and chemical products Various 5,251

Manufacture of coke and refined petroleum products Various 9,309

Manufacture of electrical equipment Various 960

Manufacture of motor vehicles, trailers and semi-trailers Various 11,685

Manufacture of other non-metallic mineral products Various 3,432

Manufacture of other transport equipment Various 2,628

Manufacture of pharmaceuticals, medicinal chemical and botanical Various 4,857


Manufacture of textiles Various 1,361


Mining of Metal Ores Various 1,454

Programming and Broadcasting activities Various 678

Real estate activities Various 1,013

Water transport Various 798

Wholesale trade, except of motor vehicles and motorcycles Various 8,428

Net current assets Net current assets 14,983

Total 391,495 100.00%

Balanced Fund

1Financial and insurance

activities95,412 24.37%



4 other 105,625 26.98%






8.00% IDFC Bank 12 Nov 2020 (Cumulative) Corporate Bond 8,350


8.70% IDFC Bank 21 Mar 2022 (Cumulative) Corporate Bond 3,907

8.70% Reliance Home Finance Ltd 03 Jan 2020 Corporate Bond 6,085

9% Shriram Transport Finance Co Ltd NCD 28-Mar-2028 Corporate Bond 5,218



9.53% Punjab National Bank Housing Finance Ltd 31-Jan-2019 Corporate Bond 2,032

9.55% Kotak Mahindra Prime 20- Aug- 2019 Corporate Bond 6,150



9.71% Tata Sons Ltd 29-Aug-2022 Corporate Bond 3,206

9.83 Bajaj Finance Ltd. 18-May-2021 Corporate Bond 8,487

9.97% HDB Financial Services Ltd. 28-Dec-2018 Corporate Bond 14,251


7.16% GOI 20-May-2023 Government Securities 10,405


7.50% GOI 10-Aug-2034 Government Securities 4,922




8.20% GOI Bond 24-Sep-2025 Government Securities 6,216





8.28% GOI 21-SEP-2027 Government Securities 6,233




8.60% GOI 02-Jun-2028 Government Securities 21,172

10.70% Indian Railway Finance Corporation Ltd. 11-Sep-2023 Corporate Bonds 4,512

8% India Infra Debt Ltd 26-July-2022 Corporate Bonds 6,046

8.11% Rural Electrification Corporation Ltd. Ltd NCD 7-Oct-2025 Corporate Bonds 5,013

8.30% Power Finance Corporation Ltd. 31-Mar-2021(Cumulative) Corporate Bonds 6,736

8.44% Rural Electrification Corporation Ltd. 04-Dec-2021 Corporate Bonds 3,083

8.49% IDFC Infrastructure Financial Ltd. 22-Aug-2023 Corporate Bonds 10,195

8.7% L&T Infrastructure Finance Company Limited 24-Mar-2022 (cumulative)Corporate Bonds 13,338

9% L&T Infrastructure Finance Company Limited 10-Jan-2022 (cumulative)Corporate Bonds 10,164

9.25% Power Grid Corporation India Ltd. 09-Mar-2027 Corporate Bonds 1,077

9.35% Power Grid Corporation India Ltd. 29-Aug-2022 Corporate Bonds 3,167

9.48% Power Finance Corporation Ltd. 15-Apr-2022 Corporate Bonds 7,414

9.98% Infrastructure Leasing & Financial Services Ltd. 05-Dec-2021Corporate Bonds 3,217




Total 444,676 100.00%

182 Day T-BILL 09 August 2018 Treasury Bills 25,662

182 Day T-BILL 14 June 2018 Treasury Bills 44,444




364 Days T-Bill 10-May-2018 Treasury Bills 29,806

364 Days T-Bill 15-November-2018 Treasury Bills 48,162

364 Days T-Bill 17-October-2018 Treasury Bills 14,517

364 Days T-Bill 24-May-2018 Treasury Bills 29,737

Aditya Birla Sun Life Cash Plus - Growth - Direct Plan Mutual Fund 2,202

Net current assets Net current assets -12,406

Total 223,117 100.00%

16.63%

4 other 55,480 12.48%

Discontinued Policy Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT

3 Infrastructure Sector 73,962

INVESTMENTS NAME Asset Type INVESTMENTSTOTAL INVESTMENT

IN INDUSTRY

% TO TOTAL

INVESTMENT




Debt Fund

S.No INDUSTRY SECTOR


2 other -10,204 -4.57%














Bank Of India Equity 2,314

Equitas Holdings Limited Equity 1,777




IDFC Bank Ltd Equity 1,728













9.20% GOI 30-Sep-2030 Government Securities 2,235

10.70% Indian Railway Finance Corporation Ltd. 11-Sep-2023 Corporate Bond 2,256

7.03% Rural Electrification Corporation Ltd. 07-Sep-2022 Corporate Bond 11,661


8.11% Rural Electrification Corporation Ltd. Ltd NCD 7-Oct-2025 Corporate Bond 5,013

8.49% IDFC Infrastructure Financial Ltd. 22-Aug-2023 Corporate Bond 5,098

8.50% Power Finance Corporation Ltd. 21-Nov-2021 Cumulative Corporate Bond 3,120

8.7% L&T Infrastructure Finance Company Limited 24-Mar-2022 (cumulative)Corporate Bond 9,273

9.10% India Infra Debt Ltd 20-Jun -2022 Corporate Bond 4,184


9.48% Power Finance Corporation Ltd. 15-Apr-2022 Corporate Bond 9,532

9.98% Infrastructure Leasing & Financial Services Ltd. 05-Dec-2021 Corporate Bond 3,217







N T P C Ltd. Equity 2,275


Power Grid Corpn. Of India Ltd. Equity 3,685

Torrent Power Ltd Equity 2,237






Manufacture of electrical equipment Various 2,598








Mutual Fund - Liquid Various 9,807

Programming and Broadcasting activities Various 1,563


Water transport Various 1,654



Total 582,188 100.00%


4 other 254,273 43.68%



2 GOVERNMENT SECURITIES 72,329

Growth Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT

12.42%





H C L Technologies Ltd. Equity 19,824

Infosys Ltd Equity 68,921

Tata Consultancy Services Ltd. Equity 47,350

Tech Mahindra Limited Equity 9,969

Wipro Ltd. Equity 1



Bank Of India Equity 6,660

Equitas Holdings Limited Equity 5,552




IDFC Bank Ltd Equity 4,979











N T P C Ltd. Equity 7,170


Power Grid Corpn. Of India Ltd. Equity 10,026

Torrent Power Ltd Equity 5,405




Manufacture of electrical equipment Various 9,702









Programming and Broadcasting activities Various 4,339


Water transport Various 5,113


Total 1,183,156 100.00%



2 other Net current assets Net current assets 1,620 1,620 14.16%

Total 11,446 100.00%


IN INDUSTRY

% TO TOTAL

INVESTMENT

1

Computer programming,

consultancy and related

activities

146,066 12.35%

Large Cap Equity Fund




4 other 616,114 52.07%

Liquid Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT






9.71% Tata Sons Ltd 29-Aug-2022 Corporate Bond 1,069






Housing Development Finance Corpn. Ltd. Equity 181

I C I C I Bank Ltd. Equity 156


IndusInd Bank Limited Equity 111

Kotak Mahindra Bank Ltd. Equity 49

State Bank Of India Equity 89




9.15% Konkan Railway Corporation Ltd 21-Jul-2024 Corporate Bond 1,062

9.25% Power Grid Corporation India Ltd. 09-Mar-2027 Corporate Bond 1,077


Adani Ports & Special Economic Zone Ltd Equity 32

Bharat Petroleum Corpn. Ltd Equity 45

Bharti Airtel Ltd Equity 39

BHARTI INFRATEL LIMITED Equity 35

G A I L (India) Ltd. Equity 35

Larsen & Toubro Ltd. Equity 164


Oil & Natural Gas Corpn. Ltd. Equity 82



Computer programming, consultancy and related activities Various 491

Manufacture of basic metals Various 70

Manufacture of chemicals and chemical products Various 159

Manufacture of coke and refined petroleum products Various 339

Manufacture of motor vehicles, trailers and semi-trailers Various 400

Manufacture of other non-metallic mineral products Various 118

Manufacture of other transport equipment Various 116

Manufacture of pharmaceuticals, medicinal chemical and botanical Various 165

Manufacture of textiles Various 26

Manufacture of tobacco products Various 240

Mining of Metal Ores Various 58

Mutual Fund - Liquid Various 302

Real estate activities Various 37



Net current assets Net current assets -366

Total 12,124 100.00%



Pension Balance


IN INDUSTRY

% TO TOTAL

INVESTMENT



4 other 3,240 26.73%









8.79% GOI 08-NOV-2021 Government Securities 2,099

9.10% India Infra Debt Ltd 20-Jun -2022 Corporate Bonds 1,046

9.15% Konkan Railway Corporation Ltd 21-Jul-2024 Corporate Bonds 1,062

9.25% Power Grid Corporation India Ltd. 09-Mar-2027 Corporate Bonds 1,077

9.39% Power Finance Corporation Ltd. 29-Jun-2022 Corporate Bonds 1,021

9.98% Infrastructure Leasing & Financial Services Ltd. 05-Dec-2021Corporate Bonds 1,072

Financial and insurance activities Various 1,064



Net current assets Net current assets 241

Total 17,880 100.00%

H C L Technologies Ltd. Equity 1,793

Infosys Ltd Equity 6,679

Tata Consultancy Services Ltd. Equity 3,912

Tech Mahindra Limited Equity 1,016

Wipro Ltd. Equity 1























Bosch Limited Equity 360

Eicher Motors Ltd. Equity 1,135

Mahindra & Mahindra Ltd Equity 2,488

Maruti Suzuki India Ltd. Equity 4,120

Tata Motors Ltd. Equity 2,394















Net current assets Net current assets -3,042

Total 99,534 100.00%



3Infrastructure Related

Activities 12,974 13.04%

37.65%

4

Manufacture of motor

vehicles, trailers and semi-

trailers

10,497 10.55%

5 other 37,473


IN INDUSTRY

% TO TOTAL

INVESTMENT

1

Computer programming,

consultancy and related

activities

13,401 13.46%

INVESTMENTSTOTAL INVESTMENT

IN INDUSTRY

% TO TOTAL

INVESTMENT


19.17%

Pension Dynamic Equity Fund

2Infrastructure Related

Activities 5,278 29.52%

3 other 3,427

Pension Debt

S.No INDUSTRY SECTOR INVESTMENTS NAME Asset Type










Housing Development Finance Corpn. Ltd. Equity 584

I C I C I Bank Ltd. Equity 425


IndusInd Bank Limited Equity 287

Kotak Mahindra Bank Ltd. Equity 248

State Bank Of India Equity 224





8.44% Rural Electrification Corporation Ltd. 04-Dec-2021 Corporate Bond 1,028

8.84% Power Grid Corporation India Ltd. 21-Oct-2020 Corporate Bond 1,285



Bharat Petroleum Corpn. Ltd Equity 121




Larsen & Toubro Ltd. Equity 469


Oil & Natural Gas Corpn. Ltd. Equity 161




Manufacture of basic metals Various 214

Manufacture of chemicals and chemical products Various 465

Manufacture of coke and refined petroleum products Various 908



Manufacture of other non-metallic mineral products Various 371

Manufacture of other transport equipment Various 281

Manufacture of pharmaceuticals, medicinal chemical and botanical Various 433


Manufacture of tobacco products Various 603

Mining of Metal Ores Various 153


Real estate activities Various 109


Net current assets Net current assets -664

Total 16,519 100.00%

12.47%


4 other 5,616 34.00%

2 GOVERNMENT SECURITIES 2,059



Pension Growth Fund


IN INDUSTRY

% TO TOTAL

INVESTMENT

Risk Management Architecture Annexure 3

DHFL Pramerica Life Insurance Company (The Company) is committed to transparency, integrity and accountability in all its affairs towards its customers, shareholders, employees, distribution partners and regulators. The Company takes risks inherent to its strategy in order to achieve its corporate and business units' objectives, deliver superior shareholder returns and protection of policyholder interests. The Company hence has a robust Enterprise Risk Management (ERM) framework in place covering procedures to identify, assess and mitigate the key business risks including strategic risk, operational risks, investment risks, insurance risks, Information Security risk, catastrophic risks etc. Objective of Enterprise Risk Management Evaluate existing control framework &

design of the Enterprise.

Assess the adequacy and effectiveness of the framework and identify the enterprise level risks of the Company.

Ongoing evaluation of risks & its severity through various tools & methodologies as depicted below

Embedding risk-based decision making in key management processes

Facilitate the proactive approach of risk identification and mitigation.

Ensuring compliance with regulatory requirements.

Strong partnering with the business functions to create the risk & control awareness and built risk culture within the organization.

The Company's ERM framework has prevention, detection and response procedures for managing the ongoing risks which is integrated across various functional departments as a coherent process which is illustrated below:

Methodology/Tools Description

Control Self Assessment: Self

assessment of the control environment is the effective me.chanism for the risk identification across the company and performed by the respective departments with the objective is to identify & document the gross risks, control mitigants, monitoring mechanisms, residual risk exposures not fully mitigated and the required action plans through Risk Assessment Matrix tool.

Enterprise Key Risk Indicator Report: Basis identified risk exposures, the company defines the key risk indicators at enterprise level and also for the specific functions reviewed / assessed to monitor the residual risks on ongoing basis. Key Risk Indicators are rated as Red, Amber or Green based on the tolerance levels set by stakeholders & approved by the Risk Working Group.

Moreover, Risk Heat Map is developed for specific functions which have a risk evaluation checklist providing detailed guidelines on each risk parameter to facilitate objective assessment of those risks.

Experience Monitoring: Mortality, morbidity, longevity, persistency, underwriting, claims, product mix, average case size parameters are assumed while projection & product pricing based on industry experience and the expected target market for which the product is being priced. Company monitors the actual experiences around these parameters and checks the material deviations, if any, from the assumptions used. Resultant risks are reported to the management along with the actions for risk mitigation.

Outsourcing Vendor Evaluation: The Company has put in place a comprehensive risk management programme via Outsourcing policy in accordance with the IRDAI guidelines. The Company does the outsourcing vendor evaluation, due diligence and

assess material risks such as complexity, financial, reputational, operational impact to the Company & policy holder losses in event of service failure, Cost Benefit Analysis and such other risks as stipulated by the Outsourcing Policy of the Company prior to entering into a contract. Further Company also reviews the performance of all third party service providers annually to assess the outsourcing risks.

End User Computing: The Company has

laid down the guidelines on managing the End user computing protocols with objective to build adequate security, accurate processing, data integrity, backup & recovery mechanisms, change management & thereby establish quality assurance. Refer to the End User Computing Protocol Guidelines.

Customer Grievance Redressal: The Company has in place proper procedures & effective mechanisms to address complaints / grievances of policyholders efficiently and speedily. The procedures are put in place with regards to the roles, responsibilities, escalations and actions for handling of the receipt and closure of the Grievances along with the service level agreements.

Business Continuity Management: DPLI, as part of its Business Strategy and Regulatory environment, has committed resources for the purpose of ensuring Business Continuity. This involves creation of an enabling framework and infrastructure for Business Resilience and Continuity and staying prepared to meet any environmental or man-made disasters.

Information & Cyber Security: The

DPLI has well defined process to monitor the information from its unauthorized usage and have deployed tools to prevent the same and track / report the incidents around breach of customer confidential/ sensitive information.

Capital Assessment: The Company maintains solvency capital as stipulated by the IRDAI regulations. The solvency ratio is measured and reviewed periodically to ensure that the Company meets the stipulated solvency norms.

Solvency & Stress Testing: The Company is required to maintain solvency capital as stipulated by the IRDAI regulations. The solvency ratio is measured and reviewed periodically to ensure that the Company meet the stipulated solvency norms. The Company tests its liabilities and solvency under various stress scenarios prescribed by the regulators to identify the stress levels in which company may not be able to meet the business plan or regulatory norms, evaluate the impact and considers the potential management actions to be taken based on the testing outcome. The solvency position and results of stress testing shall be periodically reported to the RMC as per the defined standard operating procedure.

Duration Analysis: The Company use

duration gap as a risk monitoring measure to assess the impact of interest rate fluctuation on the Enterprise value of the Company. Apart from duration analysis, the Company also uses other tools to manage its risk, including financial analysis of issuer's balance sheet.

Profitability/ Product mix: The

Company does the periodic analysis of the product profitability and evaluates the risk factors impacting downfall and plan the mitigation strategies to align the margins to the Company's growth objectives. It may use Internal Rate of Return, New Business Margin, Profit Margin or any other measure deemed relevant from time to time or as required by regulations.

Reinsurance Programme: The Company has a reinsurance programme wherein insurance risk arising out of mortality / morbidity experience is transferred to reinsurers and thereby reduces the claim payout fluctuations. The Company designs its reinsurance arrangement with an aim to minimize the risks & optimize the value through - maximum retention within the country; building the adequate underwriting capacity & obtain best protection for the reinsurance cost incurred.

Regulatory Risk Compliance: The Compliance function of the Company works with the business management to establish, implement and maintain compliance policies and procedures facilitating the functions to comply with new & applicable regulations & internal standards including but not limited to Anti Money Laundering, Anti Bribery guidelines etc. Employees and sales persons are imparted trainings to built the regulatory understanding. The Company also provides guidance & suggest remedial measures to business management for adherence to the regulatory requirements. The Company coordinates with the regulators in response to their queries / audit etc. and built the mechanisms to track all the regulatory filings and correspondences.

Sales Compliance: The Company has

established monitoring process to encourage right sales practices, promote ethical sales behavior so that customers are treated fairly and thereby minimize the risks around practices of mis-selling or anti selection by the customers. The focus is also to mitigate the risk of non- adherence to the guidelines/code of conduct specified by the IRDAI for various distributors and business solicitation through various channels. This is achieved through regular branch compliance self assessments, review of business quality in the field and from the distributors, corporate agency inspections and increased awareness through field training and compliance manuals.

Fraud Investigation & Control: The

Company has an Anti Fraud policy and deployed mechanisms to perform the investigation of suspected fraudulent activities, monitoring the fraud indicators and trends. Also, various offsite activities and analytics are undertaken to identify the potential red flags and strengthen the process controls to mitigate fraud instances.

Various campaigns around fraud prevention are run to increase the overall awareness and responsiveness towards fraud. The fraud instances are reported to senior management, Risk Management Committee & IRDAI.

Underwriting: The Underwriting function governs the process of acceptance or otherwise of the prospective client's risks the books of the Company so as to maintain the assumed mortality/morbidity experience.

The underwriting guidelines assist in measuring the risk exposure & determining the premium that needs to be charged to insure that risk. It acts as a guard against risk of anti-selection and maintain equity between policyholders.

Awareness & Communication: o Training and awareness on Anti Fraud

and Sales Compliance orientation is conducted at periodic intervals for all employees annually.

o Advisories on emerging fraud risks are published based on learning derived from emerging fraud issues periodically.

o Training on compliance and regulatory framework (including Anti Money Laundering) is conducted for employees and agents annually.

DHFL PRAMERICA ASSET MANAGERS PRIVATE LIMITED

CIN : U74900MH2008FTC187029 Audited Financial Statements

For the year ended 31st March, 2019


Balance sheet as at 31 March 2019(Rs. in lakhs)

NoteAs at

31 March 2019As at

31 March 2018As at

1 April 2017ASSETS

1 Financial assetsCash and cash equivalents 2 37.16 48.42 14.07 Bank balances other than cash and cash equivalents 3 50.13 - - Receivables

Trade receivables 4 599.27 1,066.50 1,797.96 Loans 5 202.11 186.38 136.71 Investments 6 23,432.41 13,344.84 12,195.75 Other financial assets 7 28.89 - -

24,349.97 14,646.14 14,144.49 2 Non-Financial assets

Current tax assets (net) 8 2,631.08 2,031.60 1,138.09 Property, plant and equipment 9 254.11 237.36 319.85 Intangible assets 10 74.91 15.50 35.74 Other non-financial assets 11 1,020.40 2,119.60 279.26

3,980.50 4,404.06 1,772.94 Total Assets 28,330.47 19,050.20 15,917.43

LIABILITIES AND EQUITY Liabilities

1 Financial LiabilitiesPayables

Trade payables 12 - Total outstanding dues of micro enterprises and small enterprises - - - - Total outstanding dues of creditors other than micro enterprises and small enterprises 1,745.91 1,356.53 668.05

Borrowings 13 11,500.00 - - Other financial liabilities 14 1,333.62 1,681.01 1,476.99

14,579.53 3,037.54 2,145.04 2 Non Financial Liabilities

Provisions 15 62.19 144.37 75.95 Other non financial liabilities 16 360.40 1,464.52 168.89

422.59 1,608.89 244.84 3 Equity

Equity share capital 17 10,849.38 10,849.38 10,849.38 Other equity 18 2,478.97 3,554.39 2,678.17

13,328.35 14,403.77 13,527.55 Total Liabilities and Equity 28,330.47 19,050.20 15,917.43 Significant accounting policies 1Notes on financial statements 2-40

For Walker Chandiok & Co LLP For and on behalf of the Board of Directors ofFirm Registration Number: 001076N/N500013 DHFL Pramerica Asset Managers Private LimitedChartered Accountants

Suresh Mahalingam Glenwyn P. BaptistManish Gujral Director DirectorPartner DIN- 01781730 DIN- 07081686Membership No: 105117

Place : Mumbai Ajit Menon Hiran ShahDate : 23 April 2019 Chief Executive Officer Company Secretary

Membership No. A22278

Particulars


Statement of Profit and Loss for the year ended 31 March 2019(Rs. in lakhs)

Note Year ended31 March 2019

Year ended31 March 2018

I. Revenue from operationsFee and commission income 19 8,535.24 12,154.71

II. Net gain on fair value changes 20 835.22 888.08 III. Other Income 21 427.31 18.84 IV. Total Revenue (I + II) 9,797.77 13,061.63

V. ExpensesFinance costs 22 115.95 - Fees and commission expense 23 3,381.79 4,177.20 Employee benefit expenses 24 4,663.36 4,635.80 Depreciation, amortization and impairment 25 173.05 162.84 Other expenses 26 2,483.65 2,959.13 Total expenses 10,817.80 11,934.97

VI. Profit/(loss) before tax (III-IV) (1,020.03) 1,126.66

VII. Tax expense 27Current tax 84.64 198.76

84.64 198.76 VIII Net profit/(loss) after tax (V-VI) (1,104.67) 927.90

IX Other Comprehensive income/lossItems that will not be reclassified to profit or loss

- Acturial gain/(loss) on remeasurements of the net defined benefit plans 29.24 (51.67) 29.24 (51.67)

X. Total comprehensive income/(loss) for the year (VII+VIII) (1,075.43) 876.23

XI. Earnings per equity share: 35Basic and diluted (in Rs.) (1.02) 0.86 Face value per share (in Rs.) 10.00 10.00

Significant accounting policies 1Notes on financial statements 2-40





Particulars


Statement of Cash flow for the year ended 31 March 2019(Rs. in lakhs)

For the year ended31 March 2019

For the year ended31 March 2018

A Cash flow from operating activitiesProfit Before Tax (1,020.03) 1,126.66 Adjustment for:Depreciation and amortisation 173.05 162.84 Provision for diminution in value of current investments (0.32) 0.32 Loss on sale / disposal of property, plant and equipments 4.34 (0.10) Profit on sale of current investments (351.50) (779.89) Profit on sale of non-current investments (12.11) (5.44) Interest on Fixed Deposit (1.97) (0.86) Interest on income tax refund (2.35) - Interest on Loan 115.95 - Dividend Income - (0.22) Fair valuation of investment designated at fair value through profit and loss (471.61) (102.75) Financial assets measured at amortised cost 1.85 2.55 Remeasurement of defined benefit obligations 29.24 (51.67) Operating profit before working capital changes (1,535.44) 351.44

Changes in Working Capital:(Decrease)/Increase in Non financial liabilities (111.08) 68.42 (Decrease)/Increase in Trade payables 389.39 688.48 (Decrease)/Increase in Other financial/other non financial liabilities (1,451.50) 1,499.65 Decrease/(Increase) in loans 1,081.62 (1,693.80) Decrease/(Increase) in Trade receivables 411.19 731.46 Cash generated from operations (1,215.84) 1,645.65 (Payment)/Refund of tax(net) 681.76 1,291.03 Net cash (used in) operating activities (1,897.60) 354.62

B Cash flows from investing activitiesPurchase of Property, plant and equipments and intangible assets (305.90) (60.32) Interest on Fixed Deposit 1.96 - Sale of tangible and intangible assets 52.35 0.30 Proceeds from sale of current investments 63,178.78 28,501.79 Proceeds from sale of non-current investments 62.11 55.44 Purchase of current investments (72,487.01) (25,376.88) Purchase of non-current investments - (3,440.60) Net cash (used in) investing activities (9,497.71) (320.27)

C Cash flows from financing activitiesInterest on Loan (115.95) - Proceeds From Borrowings 11,500.00 -

- - Net cash flow generated from financing activities 11,384.05 -

Net Increase/(decrease) in cash and cash equivalents (A + B + C) (11.26) 34.35

Cash and cash equivalents at the beginning of the year 48.42 14.07 Cash and cash equivalents at the end of the year 37.16 48.42

(11.26) 34.35 Cash and cash equivalents include the following Balances with banks in current account 37.16 48.42

Total cash and cash equivalents (Refer note 2) 37.16 48.42

Particulars


Statement of Cash flow for the year ended 31 March 2019

Notes:





(i) Figures in brackets represent cash outflow.(ii) The above Standalone Cash Flow Statement has been prepared under indirect method as set out in Ind AS-7-Cash Flow Statement notified under the Section 133 of the Companies Act, 2013.


Statement of Changes in Equity for the year ended 31 March 2019

Share Capital (Rs. in lakhs)

Number of shares Amount

As at 1 April 2017 17 10,84,93,836 10,849.38 10,849.38 Changes during the year - - -

As at 31 March 2018 17 10,84,93,836 10,849.38 10,849.38 Changes during the year - - -

As at 31 March 2019 17 10,84,93,836 10,849.38 10,849.38

Other equity(Rs. in lakhs)

Reserves and Surplus

Retained earnings

Opening balance as at 1 April 2017 2,678.17 2,678.17 Transactions during the year

Net profit / (loss) for the year 927.90 927.90 Other comprehensive income /(loss) for the year (51.68) (51.68)

Closing balance as at 31 March 2018 3,554.39 3,554.39

Transactions during the yearNet profit / (loss) for the year (1,104.67) (1,104.67) Other comprehensive income /(loss) for the year 29.24 29.24

Closing balance as at 31 March 2019 2,478.97 2,478.97

Nature of ReservesRetained earningsRetained earnings pertain to the accumulated earnings / losses made by the company over the years.

Total

ParticularsTotal

Particulars Note Equity share capital


1

a.

b.

c.

Notes Forming Part of Financial Statements

1. Significant accounting policies and other explanatory information for the year ended 31 March, 2019

Company informationDHFL Pramerica Asset Managers Private Limited (the "Company") was incorporated on 24 September, 2008 as a private limited company under theCompanies Act, 1956 and a limited company within the meaning of Companies Act, 2013 of India (the "Act").The registered and corporate office of thecompany is situated at 2nd floor, Nirlon House , Dr Annie Besant Road, Worli, Mumbai 400030, Maharashtra.

The Company is registered as an investment manager with Securities and Exchange Board of India (SEBI) under SEBI (Mutual Funds) Regulations, 1996.The principal business of the Company is to provide management advisory and administrative services to the DHFL Pramerica Mutual Fund (the "Fund")in accordance with Investment Management Agreement dated 30 July, 2009, as amended time to time, between DHFL Pramerica Trustees Private Limitedand the Company.

The Company is also a SEBI registered Portfolio Manager. The Company has received a certificate from SEBI which is valid up to 15 September, 2019 andto be renewed thereafter. It provides discretionary and advisory portfolio management services (PMS) to its clients.

Pursuant to the SEBI's grant of no-objection for change in the controlling interest, the Company became a joint venture between Prudential Financial, Inc(PFI) and Dewan Housing Finance Corporation Limited (DHFL), with PGLH of Delaware, Inc (PGLH) along with Pramerica Financial Asia Limited(PFAL) holding 50% of the paid-up share capital of the Company and DHFL holding remaining 50% of the paid up share capital (as on 31 March , 2016).The share transfer between PGLH and DHLF was completed on 11 August 2015.

Basis of PreparationThe Company has prepared its financial statements to comply in all material respects with the provisions of The Act and rules framed thereunder. Inaccordance with the notification issued by the Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (Ind AS) notifiedunder the Companies (Indian Accounting Standards) Rules, 2015 under Section 133 of the Act, with effect from 1 April 2018. Till 31 March 2018, theCompany used to prepare its financial statements as per Companies (Accounting Standards) Rules, 2014 (Previous GAAP) read with rule 7 and otherrelevant provisions of the Act. These are the first Ind AS Financial Statements of the Company. The transition from Previous GAAP to Ind AS has beenaccounted for in accordance with Ind AS 101 “First Time Adoption of Indian Accounting Standards”, with 1 April 2017 being the transition date andbalance for the comparative period have been restated accordingly. As per Ind AS 101, the Company has presented a reconciliation of its transition fromPrevious GAAP to Ind AS of its total equity as at 1 April 2017 and 31 March 2018 and reconciliation of total comprehensive income and cash flow for theyear ended 31 March 2018. Please refer note 40 for detailed information on the transition.

The financial statements have been prepared on a historical cost convention and accrual basis, except for the following assets and liabilities:i) Certain financial assets and liabilities that are measured at fair valueii) Defined benefit plans-plan assets measured at fair value

Significant accounting policies

Foreign Currency TransactionsThe functional currency of the company is Indian national rupee (INR) which is also the presentation currency. All other currencies are accounted for asforeign currency.

Transactions denominated in foreign currencies are initially recorded at the exchange rate prevailing at the date of transaction.

Foreign currency monetary items are reported using the closing exchange rates. Non-monetary items that are measured in terms of historical cost in aforeign currency are translated using the exchange rates at the dates of the initial transaction. Non-monetary items measured at fair value in a foreigncurrency are translated using the exchange rates at the date when the fair value is determined.

Exchange differences on monetary items are recognised in Statement of Profit and Loss in the period in which they arise.

Revenue RecognitionRevenue is measured at the fair value of consideration received or receivable.

Revenue from operations includes Investment management fees, portfolio management services and Investment advisory fees. These are recognised overtime on an accrual basis. Amounts disclosed as revenue are net of Goods and Service Tax, Service Tax and amounts collected on behalf of third parties.

Other IncomeInterest income for debt instruments is recognised using the effective interest rate method. The effective interest rate is the rate that exactly discountsestimated future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. When calculating the effectiveinterest rate, the Company estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepayment,extension, call and similar options) but does not consider the expected credit losses.

Dividend are recognised in profit or loss only when the right to receive payment is established, it is probable that the economic benefits associated with thedividend will flow to the company, and the amount of the dividend can be measured reliably.

DHFL PRAMERICA ASSET MANAGERS PRIVATE LIMITEDNotes Forming Part of Financial Statements

d.

e.

f.

g.

Income taxThe income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate adjustedby changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period.

Deferred income tax is provided in full, using the balance sheet approach, on temporary differences arising between the tax bases of assets and liabilitiesand their carrying amounts in the financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition ofgoodwill. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a businesscombination that at the time of the transaction affects neither accounting profit nor taxable profit (tax loss). Deferred income tax is determined using taxrates (and laws) that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferredincome tax asset is realised or the deferred income tax liability is settled.

Deferred tax asset are recognised to the extent that taxable profit will be available against which the deductible temporary differences and the carry forwardof unused tax credits and unused tax losses can be utilised. The carrying amount of deferred tax assets are reviewed at each reporting date and reduced tothe extent that it is no longer probable sufficient taxable profit will be available to allow or part of deferred income tax assets to be utilised. At eachreporting date, the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax asset to the extent that it has becomereasonably certain, as the case may be, that sufficient future taxable income will be available against which such deferred tax assets can be realized.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred taxbalances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset andintends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly inequity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

LeasesAs a lesseeLeases in which a significant portion of the risks and rewards of ownership are not transferred to the Company as lessee are classified as operating leases.Payments made under operating leases (net of any incentives received from the lessor) are charged to profit or loss on a straight-line basis over the periodof the lease unless the payments are structured to increase in line with expected general inflation to compensate for the lessor’s expected inflationary costincreases.

Impairment of non-financial assetsThe carrying amount of the non-financial assets are reviewed at each Balance Sheet date if there is any indication of impairment based on internal /externalfactors. An impairment loss is recognised whenever the carrying amount of an asset or a cash generating unit exceeds its recoverable amount. Therecoverable amount of the assets (or where applicable, that of the cash generating unit to which the asset belongs) is estimated as the higher of its net sellingprice and its value in use. Impairment loss is recognised in the statement of profit and loss.

After impairment, depreciation / amortisation is provided on the revised carrying amount of the asset over its remaining useful life.

A previously recognised impairment loss is increased or reversed depending on changes in circumstances. However, the carrying value after reversal is notincreased beyond the carrying value that would have prevailed by charging usual depreciation / amortisation if there were no impairment.

Cash and cash equivalentsFor the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financialinstitutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts ofcash and which are subject to an insignificant risk of changes in value, and bank overdrafts.


h. Investments and financial assetsClassification

The Company classifies its financial assets in the following measurement categories:• those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and • those measured at amortised cost.

The classification depends on the Company’s business model for managing the financial assets and the contractual terms of the cash flows.

For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debtinstruments, this will depend on the business model in which the investment is held. For investments in equity instruments, this will depend on whether theCompany has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensiveincome.

The Company reclassifies debt investments when and only when its business model for managing those assets changes.

Measurement

At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss,transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profitor loss are expensed in profit or loss.

Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal andinterest.

Measurement of debt instrumentsSubsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of theasset. There are three measurement categories into which the company classifies its debt instruments:

• Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interestare measured at amortised cost. A gain or loss on a debt investment that is subsequently measured at amortised cost and is not part of a hedgingrelationship is recognised in profit or loss when the asset is derecognised or impaired. Interest income from these financial assets is included in financeincome using the effective interest rate method.

• Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual cash flows and for selling the financialassets, where the assets’ cash flows represent solely payments of principal and interest, are measured at fair value through other comprehensive income(FVOCI). Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreignexchange gains and losses which are recognised in profit and loss. When the financial asset is derecognised, the cumulative gain or loss previouslyrecognised in OCI is reclassified from equity to profit or loss and recognised in other gains/ (losses). Interest income from these financial assets is includedin other income using the effective interest rate method.

• Fair value through profit or loss (FVTPL): Assets that do not meet the criteria for amortised cost or FVOCI are measured at fair value through profitor loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship isrecognised in profit or loss and presented net in the statement of profit and loss within other gains/(losses) in the period in which it arises. Interest incomefrom these financial assets is included in other income.

Impairment of financial assets The Company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost and FVOCI debtinstruments. The impairment methodology applied depends on whether there has been a significant increase in credit risk. The Company applies simplified approach permitted by Ind AS 109 Financial Instruments for it's receivables, which requires expected lifetime losses to berecognised from initial recognition of the receivables.

De-recognition of financial assetsA financial asset is derecognised only when• The Company has transferred the rights to receive cash flows from the financial asset or• retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or morerecipients.

Where the Company has transferred an asset, the Company evaluates whether it has transferred substantially all risks and rewards of ownership of thefinancial asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially all risks and rewards of ownership of thefinancial asset, the financial asset is not derecognised.

Where the Company has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the financial asset, the financialasset is derecognised if the Company has not retained control of the financial asset. Where the Company retains control of the financial asset, the asset iscontinued to be recognised to the extent of continuing involvement in the financial asset.


i.

j.

Assets Useful lifeLeasehold Improvement Over the primary lease periodFurniture and Fixtures 10 yearsOffice Equipments 3 yearsComputers 3 yearsServers 6 yearsVehicles 8 years

k.

Assets Useful lifeComputer Software 3 years

l.

Offsetting financial instrumentsFinancial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right to offset the recognisedamounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not becontingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of theCompany or the counterparty.

Property plant and equipment All items of property, plant and equipment are stated at historical cost less depreciation. Historical cost are stated at cost of acquisition inclusive of allattributable cost of bringing the assets to their working condition, less accumulated depreciation and accumulated impairment losses, if any.

Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is possible that future economicbenefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any componentaccounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to profit or loss during the reporting periodin which they are incurred.

Schedule II to the Companies Act, 2013 prescribes useful lives for property, plant and equipment's and allows companies to use higher/lower useful livesand residual values if such useful lives and residual values can be technically supported and justification for difference is disclosed in the financialstatements. The management believes that the depreciation rates currently used fairly reflect its estimate of the useful lives and residual values of property,plant and equipment.

Depreciation is provided on the Straight Line Method ('SLM') on the basis of useful life prescribed under the Schedule II of the Companies Act, 2013,which is in line with the management estimate of useful life of property plant and equipments, except in case of office equipments which is higher than therate prescribed under Schedule II of Companies Act 2013, in order to reflect the actual usage of the assets. The estimate of useful life of the officeequipments based on the technical evaluation, have not undergone a change on account of transition to Companies Act 2013.The following useful life has been considered:

Gains or losses arising from the retirement or disposal of property plant and equipment are determined as the difference between the net disposal proceedsand the carrying amount of the property plant and equipment and recognised as income or expense in the Statement of Profit and Loss.

On transition to Ind AS, the company has elected to continue with the carrying value of all of its property, plant and equipment recognised as at 1 April2017 measured as per the previous GAAP and use that carrying value as the deemed cost of the property, plant and equipment.

Intangible AssetsIntangible assets are carried at cost less accumulated amortisation and accumulated impairment losses, if any. Cost includes expenditure that is directlyattributable to the acquisition of the intangible assets.

Identifiable intangible assets are recognised when it is probable that future economic benefits attributed to the asset will flow to the Company and the costof the asset can be reliably measured.

Computer softwares are capitalised at the amounts paid to acquire the respective license for use and are amortised over the period of useful lives. Theassets’ useful lives are reviewed at each financial year end.

The following useful life has been considered:

Fixed assets costing Rs. 5,000 or less are fully depreciated in the year of purchase.

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amountof the asset and are recognised in the statement of profit and loss when the asset is derecognised.On transition to Ind AS, the Company has elected to continue with the carrying value of all of its intangible assets as at 1 April 2017 measured as per theprevious GAAP and use that carrying value as the deemed cost of intangible assets.

Other financial liabilitiesFinancial liabilities are initially recognised at fair value (net of transaction costs incurred). Difference between the fair value and the transaction proceeds oninitial recognition is recognised as an asset / liability based on the underlying reason for the difference. Subsequently all financial liabilities are measured at amortised cost using the effective interest rate method.


m.

n.

o.

p.

Provisions, Contingent Liabilities and contingent assetsProvisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow ofresources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If theeffect of the time value of money is material, provisions are discounted using equivalent period government securities interest rate. Unwinding of thediscount is recognised in the statement of profit and loss as a finance cost. Provisions are reviewed at each balance sheet date and are adjusted to reflect thecurrent best estimate.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by theoccurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arisesfrom past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.Information on contingent liability is disclosed in the Notes to the Financial Statements. Contingent assets are not recognised, but disclosed in the financialstatements. However, when the realisation of income is virtually certain, then the related asset is no longer a contingent asset, but it is recognised as an asset.

Employee BenefitsShort term obligations: Short term employee benefits are recognised as an expense at the undiscounted amount in the statement of profit and loss of theyear in which the related service is rendered.

Other long term employee benefit obligations: Compensated absences: The Company has policy of carry forward of 10 days un-availed leave to next calendar year. Accumulated compensated absences,which are expected to be availed or encashed within 12 months from the end of the year are treated as short term employee benefits. The obligationtowards the same is measured at the expected cost of accumulating compensated absences as the additional amount expected to be paid as a result of theunused entitlement as at the year end.

Accumulated compensated absences, which are expected to be availed or encashed beyond 12 months from the end of the year are treated as other long-term employee benefits. The Company’s liability is actuarially determined (using the Projected Unit Credit method) at the end of each year. Actuarial losses/gains are recognised in the Statement of Profit and Loss in the year in which they arise.

Long term service awards: The Company’s certain eligible employees are entitled to Long term incentive benefits as per the Company’s policy. Theliability in respect of the same is determined based on actuarial valuation provided by independent actuary as at the year end and the cost is recognized overthe tenure of the plan. The actuarial method used by the independent actuary for measuring the liability is Projected Unit Credit Method.

Post employment obligations:The Company operates the following post employment schemes:

Defined benefit plans:Gratuity: The Company provides for gratuity, a defined benefit plan (the “Gratuity Plan”) covering eligible employees in accordance with the Payment ofGratuity Act, 1972. The Company has taken a Group Gratuity Policy with Kotak Mahindra Old Mutual Life Insurance Limited (“Insurer”). Gratuity Fundis administrated through Trustees of DHFL Pramerica Asset Managers Private Limited Employees Group Gratuity Trust (“Gratuity Trust”) and/or Insurerand is a recognised fund under the Income Tax Act, 1961. The Gratuity Plan provides a lump sum payment to vested employees at retirement, death,incapacitation or termination of employment, of an amount based on the respective employee’s salary and the tenure of employment. The Company makesprovision for gratuity based on an actuarial valuation done as per projected unit credit method by an actuary. Actuarial gains and losses arising on theremeasurement of defined benefit obligation is charged/ credited to other comprehensive income.

Defined contribution plans: Provident fund: Contribution towards provident fund for certain employees is made to the regulatory authorities, where the Company has no furtherobligations. Such benefits are classified as Defined Contribution Schemes as the Company does not carry any further obligations, apart from thecontributions made on a monthly basis. The Company’s contribution to the above Plan is charged to the Statement of Profit and Loss as incurred.

Earnings per shareBasic earnings per share are calculated by dividing the net profit or loss (excluding other comprehensive income) for the year attributable to equityshareholders by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstandingduring the year is adjusted for events such as bonus issue, bonus element in a right issue, shares split and reserve share splits (consolidation of shares) thathave changed the number of equity shares outstanding, without a corresponding change in resources. For the purpose of calculating diluted earnings pershare, the net profit or loss (excluding other comprehensive income) for the year attributable to equity share holders and the weighted average number ofshares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

Segment reporting:The Company is in the business of providing of asset management services to the fund and portfolio management service to clients. The primary segmentis identified as asset management services which is regularly reviewed by the Chief Operating Decision Maker for assessment of Company’s performanceand resource allocation. As such the Company’s financial statements are largely reflective of the asset management business and there is no separatereportable segment.


q.

r.

r.

s.

t.

u.

PGLH of Delaware, Inc., a share holder of the Company holding 50% of the total paid-up share capital of the Company, has proposed to acquire thebalance of 50% of the total paid-up share capital of the Company collectively held by Dewan Housing Finance Corporation Limited and DHFL Advisory &Investments Private Limited (i.e., 17.12% and 32.88%, respectively), subject to regulatory approvals. The Board of Directors of the Company at theirmeeting held on December 18, 2018 have approved change in control of Company, subject to regulatory approvals.Accordingly, an application was made by PGLH to Competition Commission of India (CCI) for acquisition of equity shares of Company on February 27,2019 and CCI has given its approval/no-objection for change in controlling interest of the Company to PGLH on April 9, 2019. The Company has filed anapplication for change in controlling interest with Securities and Exchange Board of India ("SEBI") on February 25, 2019 and approval is awaited

Contingent liability relating to determination of provident fund liability, based on a recent Supreme Court judgement, is not determinable at present, due touncertainty on the impact of the judgement in absence of further clarification relating to applicability. The Company will continue to assess any furtherdevelopments in this matter for their implications on financial statements, if any, which, based on the number of employees, is not expected to besignificant.

Brokerage and Scheme related expenses:Upfront brokerage on close ended fixed tenure schemes is amortised over the tenure of the respective scheme and in case of Equity Linked Saving Scheme(ELSS), upfront brokerage is amortised over 3 Years. The unamortized portion of the brokerage is carried forward as prepaid expense. Any other brokerageis charged to Statement of Profit and Loss in the year in which it is incurred.

Critical estimates and judgements

Subsequent Events

Contingent Liability

On 30 March 2019, the Ministry of Corporate Affairs (MCA) notified Ind AS 116, Leases as part of the Companies (Indian Accounting Standards (Ind AS))Amendment Rules, 2019. Ind AS 116 replaces existing standard on leases i.e. Ind AS 17, Leases with effect from accounting periods beginning on or after 1April 2019. It requires, lessees to recognise assets and liabilities for most cases.The amendment is applicable to the Company from 01 April 2019. The Company is currently assessing the potential impact of this amendment.

PMS brokerage:Brokerage paid on PMS products are amortized over the exit load period. The unamortized portion of the brokerage is carried forward as prepaid expense.Any other brokerage is charged to Statement of Profit and Loss in the year in which it is incurred. The Brokerage amount, if clawed back, are adjustedagainst the expense.

iv) Defined benefit obligationThe cost of post-employment benefits is determined using actuarial valuations. The actuarial valuation involves making assumptions about discount rates,future salary increases and mortality rates. Due to the long term nature of these plans such estimates are subject to significant uncertainty. The assumptionsused are disclosed in Note 36.

Standard issued but not yet effective Ind AS 116

i) Property, plant and equipment and Intangible Assets:Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount of depreciation to be recordedduring any reporting period. The useful lives and residual values as per schedule II of the Companies Act, 2013 or are based on the Company’s historicalexperience with similar assets and taking into account anticipated technological changes, whichever is more appropriate.

ii) Income Tax:The Company reviews at each balance sheet date the carrying amount of deferred tax assets. The factors used in estimates may differ from actual outcomewhich could lead to an adjustment to the amounts reported in the financial statements.

iii) Contingencies:Management has estimated the possible outflow of resources at the end of each annual reporting financial year, if any, in respect ofcontingencies/claim/litigations against the Company as it is not possible to predict the outcome of pending matters with accuracy.


2 Cash and cash equivalents (Rs. in lakhs)As at

31 March 2019As at

31 March 2018As at

1 April 2017

37.16 48.42 14.07 37.16 48.42 14.07

3 Bank balances other than cash and cash equivalents (Rs. in lakhs)As at

31 March 2019As at

31 March 2018As at

1 April 201750.13 - - 50.13 - -

4 Trade receivables (Rs. in lakhs)As at

31 March 2019As at

31 March 2018As at

1 April 2017599.27 1,066.50 1,797.96 599.27 1,066.50 1,797.96

5 Loans (Rs. in lakhs)As at

31 March 2019As at

31 March 2018As at

1 April 2017

Measured at amortised costDeposits 200.94 185.90 136.71

1.17 0.48 - 202.11 186.38 136.71

Particulars

Fixed depositsTotal

Particulars

Employee loansTotal

Balances with banks: - in current accounts

Total

Particulars

Unsecured, considered good

Particulars


Total No trade or other receivable are due from directors or other officers of the company either severally or jointly with any other person. Nor any trade or other receivable are due from firms or private companies respectively in which any director is a partner, a director or a member.


6 Investments (Rs. in lakhs)

Particulars

Investments in India Quantity(Nos.) Amount Quantity(Nos.) Amount Quantity(Nos.) AmountInvestment measured at FVTPLInvestments in Mutual Funds (Quoted)DHFL Pramerica Fixed Duration Fund - Series 29 - Direct Plan - Growth 48,000.00 583.33 48,000.00 542.21 48,000 507.12 DHFL Pramerica Fixed Duration Fund - Series AC - Direct Plan - Growth 35,000.00 408.51 35,000.00 383.22 35,000 352.49 DHFL Pramerica Fixed Duration Fund - Series AE - Direct Plan - Growth 30,000.00 347.41 30,000.00 322.40 30,000 301.66 DHFL Pramerica Fixed Duration Fund - Series AG - Direct Plan - Growth 65,000.00 749.53 65,000.00 695.96 65,000 651.01 DHFL Pramerica Fixed Duration Fund - Series AH - Direct Plan - Growth 1,75,100.00 1,954.53 1,75,100.00 1,819.58 - - DHFL Pramerica Fixed Duration Fund - Series AP - Direct Plan - Growth 1,00,000.00 1,087.53 1,00,000.00 1,012.16 - - DHFL Pramerica Fixed Duration Fund - Series AQ - Direct Plan - Growth 35,000.00 379.88 35,000.00 353.52 - - DHFL Pramerica Fixed Duration Fund - Series AT - Direct Plan - Growth 33,000.00 325.88 33,000.00 331.20 - -

Investments in Mutual Funds (Unquoted)DHFL Pramerica Diversified Equity Fund - Direct Plan - Growth 5,00,000.00 70.40 5,00,000.00 66.05 5,00,000 59.65 DHFL Pramerica Large Cap Fund - Direct Plan - Growth 35,376.13 64.03 35,376.13 57.95 35,376 52.99 DHFL Pramerica Floating Rate Fund - Direct Plan - Growth 3,19,206.96 66.52 2,14,53,888.90 4,169.13 3,59,08,106 6,525.15 (Formerly DHFL Pramerica Short Term Floating Rate Fund - Direct Plan - Growth )DHFL Pramerica Hybrid Debt Fund - Direct Plan - Growth 2,69,033.00 65.64 34,70,002.84 775.02 2,69,033 56.28 (Formerly DHFL Pramerica Income Advantage Fund - Direct Plan - Growth )DHFL Pramerica Dynamic Bond Fund - Direct Plan - Growth Option 2,927.46 54.99 2,927.46 50.51 2,927 47.52 DHFL Pramerica Credit Risk Fund - Direct Plan - Growth 4,58,831.30 69.61 4,58,831.30 65.49 4,58,831 60.47 (Formerly DHFL Pramerica Credit Opportunities Fund - Direct Plan - Growth )DHFL Pramerica Hybrid Equity Fund - Direct Plan - Growth 87,397.20 64.38 87,397.20 60.86 87,397 57.78 (Formerly DHFL Pramerica Balanced Advantage Fund - Direct Plan - Growth )DHFL Pramerica Premier Bond Fund - Direct Plan - Growth 2,03,656.73 62.23 2,03,656.73 58.69 2,03,657 55.24 DHFL Pramerica Short Maturity Fund - Direct Plan - Growth 2,58,744.03 91.56 2,58,744.03 86.04 2,58,744 79.91 DHFL Pramerica Midcap Opportunities Fund - Direct Plan - Growth Option 3,05,810.40 59.08 3,05,810.40 60.46 3,05,810 56.76 DHFL Pramerica Long Term Equity Fund - Direct Plan - Growth (Formerly DHFL Pramerica Tax Savings Fund - Direct Plan - Growth Option)

4,00,000.00 60.20 4,00,000.00 55.36 4,00,000 49.28

DHFL Pramerica Insta Cash Fund - Direct Plan - Growth 23,79,634.01 5,782.33 27,468.57 62.02 27,469 58.06 (Formerly DHFL Pramerica Insta Cash Plus Fund - Direct Plan - Growth) DHFL Pramerica Low Duration Fund - Direct Plan - Growth 2,61,284.39 69.10 2,61,284.39 63.83 2,61,284 59.35 DHFL Pramerica Equity Saving Fund - Direct Plan - Growth 1,37,799.21 46.52 1,37,799.21 42.94 1,37,799 40.49 (Formerly DHFL Pramerica Equity Income Fund - Direct Plan - Growth )DHFL Pramerica Arbitrage Fund - Direct Plan - Growth 4,41,442.64 60.44 4,41,442.64 56.99 4,41,443 53.47 DHFL Pramerica Ultra Short Term Fund - Direct Plan - Growth 1,30,29,093.73 3,009.12 63,26,260.95 1,349.56 17,60,551 350.22 DHFL Pramerica Medium Term Fund - Direct Plan - Growth (Formerly DHFL Pramerica Medium Term Income Fund - Direct Plan - Growth)

4,00,631.40 63.50 4,00,631.40 60.58 4,00,631 56.68

DHFL Pramerica Gilt Fund - Direct Plan - Growth 3,08,293.72 63.59 3,08,293.72 59.38 3,08,294 56.45 DHFL Pramerica Banking & PSU Debt Fund - Direct Plan - Growth 3,82,657.94 63.02 28,78,418.84 441.88 1,62,82,820 2,344.14 DHFL Pramerica Inflation Indexed Bond Fund - Direct Plan- Growth - - 4,49,850.65 60.79 4,49,851 57.26 DHFL Pramerica Euro Equity Fund - Direct Plan - Growth(Formerly DHFL Pramerica Top Euroland Offshore Fund- Direct Plan - Growth)

4,23,011.84 58.04 4,23,011.84 59.77 4,23,012 52.07

DHFL Pramerica Global Equity Opportunities Fund - Direct Plan - Growth 3,61,532.89 69.31 3,61,532.90 57.05 3,61,533 50.72 (Formerly DHFL Pramerica Global Agribusiness Offshore Fund - Direct Plan - Growth )DHFL Pramerica Interval Fund-Annual Plan-Series 1- Direct Plan - Growth - - - 4,02,104 54.29 DHFL Pramerica Tax Plan - Direct Plan - Growth 1,73,801.37 59.28 1,73,801.37 54.64 1,73,801 48.23 DHFL Pramerica Short Term Floating Rate Fund - Direct Plan - Daily Dividend - - - - 9,918 1.01

Investments in Equity shares (Unquoted)MF Utilities India Private Limited 5,00,000.00 9.60 5,00,000 9.60 - -

Investment measured at Amortised Cost (Quoted)DHFL Zero Coupon Bond 45,50,000.00 7,513.32 - - - -

Total 23,432.41 13,344.84 12,195.75 Aggregate amount of quoted investments and market value thereof 13,349.92 5,460.24 1,812.29 Aggregate amount of unquoted investments 10,082.49 7,884.60 10,383.46 Aggregate amount of impairment in value of investments - - -

7 Other financial assets (Rs. in lakhs) As at

31 March 2019As at

31 March 2018As at

1 April 201728.89 - - 28.89 - -

8 Current tax assets (net) (Rs. in lakhs)As at

31 March 2019As at

31 March 2018As at

1 April 20172,631.08 2,031.60 1,138.09

2,631.08 2,031.60 1,138.09

Total

Particulars

As at1 April 2017

Advance tax and tax deducted at source [net of provision for income tax Rs. 306.01 lakhs (31st March 2018: Rs 221.37 lakhs; 1 April 2017: Rs 22.61 lakhs]

Total

As at31 March 2019

As at31 March 2018

Particulars

Gratuity


9 Property, plant and equipment (Rs. in lakhs)

Particulars Computers and servers Office equipment Furniture and fixtures Leasehold

improvements Vehicles Total

Gross blockDeemed cost as at 01 April 2017 340.86 85.54 77.86 451.83 56.40 1,012.49 Additions/Adjustments 51.27 2.38 - - 6.66 60.31 Disposals/Adjustments 1.18 0.49 - 12.25 - 13.92 Balance as at 31 March 2018 390.95 87.43 77.86 439.58 63.06 1,058.88 Additions/Adjustments 96.88 12.37 20.70 50.41 38.39 218.75 Disposals/Adjustments 45.48 4.28 6.58 15.81 94.79 166.94 Balance as at 31 March 2019 442.35 95.52 91.98 474.18 6.66 1,110.70

Accumulated depreciationBalance as at 01 April 2017 204.58 70.38 45.67 343.71 28.30 692.64 Depreciation charge 54.43 9.15 3.60 68.25 7.17 142.60 Adjustments 0.98 0.49 - 12.25 - 13.72 Balance as at 31 March 2018 258.03 79.04 49.27 399.71 35.47 821.52 Depreciation charge 69.74 9.73 14.50 45.64 6.24 145.85 Disposals/Adjustments 45.15 4.23 5.27 15.81 40.32 110.78 Balance as at 31 March 2019 282.62 84.54 58.51 429.54 1.39 856.59

Net blockBalance as at 1 April 2017 136.28 15.16 32.19 108.12 28.10 319.85 Balance as at 31 March 2018 132.92 8.39 28.59 39.87 27.59 237.36 Balance as at 31 March 2019 159.73 10.98 33.47 44.64 5.27 254.11

10 Intangible assets (Rs. in lakhs)Particulars Software

Gross blockDeemed cost as at 01 April 2017 177.06 Additions/Adjustments - Disposals/Adjustments - Balance as at 31 March 2018 177.06 Additions/Adjustments 86.62Disposals/AdjustmentsBalance as at 31 March 2019 263.68

Accumulated amortisationDeemed cost as at 01 April 2017 141.33 Amortisation charge for the year 20.23 Disposals - Balance as at 31 March 2018 161.56 Amortisation charge for the year 27.21DisposalsBalance as at 31 March 2019 188.77

Net blockBalance as at 1 April 2017 35.74 Balance as at 31 March 2018 15.50 Balance as at 31 March 2019 74.91


11 Other non-financial assets (Rs. in lakhs)

ParticularsAs at

31 March 2019As at

31 March 2018As at

1 April 2017Unsecured, considered good

Capital advances 62.55 26.19 - Balance with government authorities 303.27 1,430.20 51.87 Prepaid expenses 654.58 663.21 227.39

Total 1,020.40 2,119.60 279.26

12 Trade payables (Rs. in lakhs)

ParticularsAs at

31 March 2019As at

31 March 2018As at

1 April 2017Total oustanding dues of micro enterprises and small enterprises - - - Total outstanding dues of creditors other than micro, small and medium enterprises 1,745.91 1,356.53 668.05

Total 1,745.91 1,356.53 668.05

13 Borrowings (Rs. in lakhs)

ParticularsAs at

31 March 2019As at

31 March 2018As at

1 April 2017Measured at amortised costIn India:Loan from bank (Secured) 11,500.00 - -

Total 11,500.00 - -

14 Other financial liabilities (Rs. in lakhs)

ParticularsAs at

31 March 2019As at

31 March 2018As at

1 April 2017Payable to DHFL Pramerica Mutual Fund 211.48 21.81 10.51 Capital Creditors 11.48 - - Employee Incentive plan* 1,086.10 1,648.69 1,456.53 Rent equalisation reserve 24.56 10.51 9.95

Total 1,333.62 1,681.01 1,476.99

15 Provisions (Rs. in lakhs)

ParticularsAs at

31 March 2019As at

31 March 2018As at

1 April 2017Provisions for employee benefits

Provision for gratuity (Refer Note 36) - 84.84 4.84 Provision for Compensated absences (Refer Note 36) 50.37 47.31 38.34 Provision for long term service awards (Refer Note 36) 11.82 12.22 32.77

Total 62.19 144.37 75.95

16 Other non financial liabilities (Rs. in lakhs)

ParticularsAs at

31 March 2019As at

31 March 2018As at

1 April 2017Statutory dues including provident fund and tax deducted at source 360.40 1,464.52 168.89

Total 360.40 1,464.52 168.89 There are no amounts due for payment to the Investor Education and Protection Fund under Section 125 of the Companies Act, 2013 as at the year end.


Borrowing from bank is secured. The interest is payable monthly at the rate of 11.50% per annum. The principal is payable on 28th May2019.

*Under the plan, amount payable has been determined on certain performance criteria and certain amounts are allotted and they become due for payment at a future date.


17 Equity share capital (Rs. in lakhs)Particulars

No. of Shares Amount No. of Shares Amount No. of Shares AmountAuthorised capitalEquity shares of Rs. 10 each 1,02,50,00,000 1,02,500 1,02,50,00,000 1,02,500.00 1,02,50,00,000 1,02,500.00

1,02,50,00,000 1,02,500 1,02,50,00,000 1,02,500.00 1,02,50,00,000 1,02,500.00 IssuedEquity shares of Rs. 10 each 10,84,93,836 10,849.38 10,84,93,836 10,849.38 10,84,93,836 10,849.38 Total issued 10,84,93,836 10,849.38 10,84,93,836 10,849.38 10,84,93,836 10,849.38

Subscribed and Paid Up:Equity shares of Rs. 10 each 10,84,93,836 10,849.38 10,84,93,836 10,849.38 10,84,93,836 10,849.38 Total Subscribed and Paid Up: 10,84,93,836 10,849.38 10,84,93,836 10,849.38 10,84,93,836 10,849.38

Total issued, subscribed and fully paid up shares 10,84,93,836 10,849.38 10,84,93,836 10,849.38 10,84,93,836 10,849.38

a) Reconciliation of shares outstanding at the beginning and at the end of the reporting period (Rs. in lakhs)

No. of Shares Amount No. of Shares Amount

10,84,93,836 10,849.38 10,84,93,836 10,849.38 - - - -

Less: Share capital reduced / consolidated during the year - - - - 10,84,93,836 10,849.38 10,84,93,836 10,849.38

10,84,93,836 10,849.38 10,84,93,836 10,849.38

b) Terms/ rights attached to Equity Shares

c) Details of shareholders holding more than 5% shares in the companyName of shareholder

No of shares % of shares No of shares % of shares No of shares % of sharesEquity shares of Rs 10 eachPGLH of Delaware, Inc. 5,42,46,918 50.00% 5,42,46,918 50.00% 5,42,46,918 50.00%DHFL Advisory & Investments Private Limited 3,56,78,093 32.88% 3,56,78,093 32.88% 3,56,78,093 32.88%Dewan Housing Finance Corporation Limited 1,85,68,825 17.12% 1,85,68,825 17.12% 1,85,68,825 17.12%

18 Other equity (Rs. in lakhs)

Particulars As at

31 March 2019 As at

31 March 2018 As at

1 April 2017 Retained earnings 2,478.97 3,554.39 2,678.17

Total 2,478.97 3,554.39 2,678.17

Retained earnings (Rs. in lakhs)

Particulars As at

31 March 2019 As at

31 March 2018 Opening Balance 3,554.39 2,678.17 Transaction during the year : - -

Net profit / (loss) for the year (1,104.67) 927.90 Other comprehensive income /(loss) for the year 29.24 (51.68)

Closing balance 2,478.97 3,554.39

Equity shares of Rs. 10 eachAt the beginning of the year

As at 31 March 2019

As at 31 March 2019 As at 31 March 2018 As at 1 April 2017

Particulars As at 31 March 2018

Add: Issued during the year

At the end of the year

Total issued, subscribed and fully paid up Equity shares


Equity Shares: The company has one class of equity share having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.


19 Fee and commission income (Rs. in lakhs)

Particulars Year ended31 March 2019


Revenue recognized over a period of timeInvestment management fees (Net of Service Tax / Good & Service Tax) 6,860.20 10,683.59 Portfolio management fees (Net of Service Tax / Good & Service Tax) 1,289.59 1,163.40 Investment advisory services - Offshore 385.45 307.72

Total 8,535.24 12,154.71

20 Net gain on fair value changes (Rs. in lakhs)



Net gain on mutual fund Investment measured at fair value through profit and loss 835.22 888.08 Total 835.22 888.08

21 Other income (Rs. in lakhs)



Interest income on financial assets measured at amortised cost:- Bank deposits 1.96 0.86 - Security deposits 19.09 15.66 - Zero Coupon Bonds 55.92 -

Interest on income tax refund 2.35 1.28 Net gain/(loss) on foreign currency transaction - 0.70 Provision for expenses no longer required written back 347.90 - Net gain/(loss) on derecognition of Property, Plant and Equipment - 0.10 Dividend income - 0.22 Miscellaneous income 0.09 0.02

Total 427.31 18.84

22 Finance costs (Rs. in lakhs)



Interest Expense on financial liabilities measured at amortised cost: - Interest on short term borrowing 115.95 -

Total 115.95 -

23 Fees and commission expense (Rs. in lakhs)



Brokerage and scheme related expenses 2,729.77 3,619.13 PMS Brokerage 652.02 558.07

Total 3,381.79 4,177.20

24 Employee benefit expenses (Rs. in lakhs)



Salaries and wages 4,235.23 4,117.83 Contribution to provident fund and other funds 214.04 177.33 Staff welfare expenses 48.10 36.43 Gratuity (Refer note 36) 3.70 28.33 Long term incentive benefits and retention bonus 162.29 275.88

Total 4,663.36 4,635.80




25 Depreciation and amortisation expense (Rs. in lakhs)



Depreciation on property, plant and equipment 145.85 142.60 Amortisation on intangible assets 27.20 20.24

Total 173.05 162.84

26 Other expenses (Rs. in lakhs)



Rent and other expenses 441.95 391.75 Electricity 33.81 32.59 Rates and taxes 301.23 109.48 Travelling and conveyance 164.77 370.74 Business promotion 292.81 266.73 Advertising and marketing 151.43 646.44 Legal and professional fees 516.48 675.99 Membership and subscription 129.35 92.07 Payment to auditors: - Audit fees 11.00 14.00 - Tax audit fee 1.85 1.50 - Out of pocket expenses 0.43 0.59 Communication 43.69 227.60 Computer Software Charges 207.46 - Computer consumables 16.62 5.71 Printing and stationery 32.88 29.89 Books and periodicals 1.07 0.72 Insurance 1.69 1.50 Directors' sitting fees 9.20 9.20 Provision for diminution in value of current investments - 0.32 Loss on foreign currency transaction 6.45 - Loss on derecognition of Property, Plant and Equipment 4.34 - Advance Witten off 44.00 - Other administration charges 71.14 82.31

Total 2,483.65 2,959.13


(Rs. in lakhs)Year ended

31 March 2019Year ended

31 March 201827

Adjustments for current tax of prior periods 84.64 - - 198.76

84.64 198.76

27.1 31-Mar-19 31-Mar-18(1,020.03) 1,126.66

(281.02) 310.39

0.03 0.02 280.99 (310.41)

- - (Rs. in lakhs)

27.2 31-Mar-19 31-Mar-18 01-Apr-17

48.94 10.58 - 1,986.30 2,646.66 2,878.25

- 39.47 - - - 3.13

2,035.24 2,696.71 2,881.38

64.74 - 61.67 1.19 - -

3.87 0.15 - 5.23 0.70 - - 0.09 - (97.24) 97.24 -

2,057.45 2,598.53 2,819.71 2,035.24 2,696.71 2,881.38

- - -

Note :

27.3 Deferred tax related to the following: (Rs. in lakhs)Particulars As at

31 March 2019 Recognised

through profitand loss

As at 31 March 2018

Recognisedthrough profit

and loss

As at1 April 2017

Deferred tax liabilities on account of:Financial assets measured at FVTPL 48.94 38.36 10.58 10.58 - Property, Plant and Equipment 1,986.30 (660.36) 2,646.66 (231.59) 2,878.25 Employee benefit expenses - (39.47) 39.47 39.47 - Rent expenses - - - (3.13) 3.13

Total deferred tax liabilities (A) 2,035.24 (661.47) 2,696.71 (184.67) 2,881.38 Deferred tax assets on account of:

Employee benefit expenses 64.74 64.74 - (61.67) 61.67 Property, Plant and Equipment 1.19 1.19 - - - Rent expenses 3.87 3.73 0.15 0.15 - Financial assets measured at amortized cost 5.23 4.52 0.70 0.70 - Investments - (0.09) 0.09 0.09 - Advertising and marketing expenses (97.24) (194.48) 97.24 97.24 - Unabsorbed business losses/depreciation 2,057.45 (541.08) 2,598.53 (221.18) 2,819.71

Total deferred tax assets (B) 2,035.24 (661.47) 2,696.71 (184.67) 2,881.38 Total deferred tax Assets/liability (net) (A-B) - - - - -

Since it is not probable that sufficient tax profits would be available for set off of current tax losses, deferred tax assets have been created to the extent of deferred tax liabilities. Unabsorbeddepreciation can be carried forward for indefinite period and tax losses will expire in 8 years from the reporting date.

Due to absence of reasonable certainty, deferred tax assets has not been created on business lossess amounting to Rs. Nil (31 March 2018 - Nil; 1 April 2017 Rs. 100,99.98 lakhs) andunabsorbed depreciation amounting to Rs. 30,206.37 lakhs (31 March 2018 - Rs. 18,973.30 lakhs; 1 April 2017: Rs. 12,07.63 lakhs).

Particulars

Tax expenseCurrent tax expense

Current tax for the year

Tax reconciliation (for profit and loss)Profit/(loss) before income tax expenseTax at the rate of 27.55% (for 31 March 2018 - 27.55%)Tax effect of amounts which are not deductible / not taxable in calculating taxable incomeNon deductible expenses for tax purposeLossess carried forward in future yearsIncome tax expense

ParticularsDeferred tax liability on account of :Financial assets measured at FVTPLProperty, Plant and EquipmentEmployee benefit expensesRent expenses Total deferred tax liabilities (A)Deferred tax assets on account of:Employee benefit expensesProperty, Plant and EquipmentRent expensesFinancial assets measured at amortized costInvestmentsAdvertising and marketing expensesUnabsorbed business losses/depreciationTotal deferred tax assets (B)

Net deferred tax Liablity/ (Assets) (A-B)


28 Fair value measurements

Financial instruments by category: (Rs. in lakhs)

FVTPL Amortised cost FVTPL Amortised cost FVTPL Amortised cost

Financial assetsCash and cash equivalents - 37.16 - 48.42 - 14.07 Bank balances other than cash and cash equivalents - 50.13 - - - - Trade receivables - 599.27 - 1,066.50 - 1,797.96 Loans - 202.11 - 186.38 - 136.71 Investments 15,919.09 7,513.32 13,344.84 - 12,195.75 - Other financial asset - 28.89 - - - - Total Financial Assets 15,919.09 8,430.88 13,344.84 1,301.30 12,195.75 1,948.74

Financial LiabilitiesTrade payables - 1,745.91 - 1,356.53 - 668.05 Borrowing other than debt securities - 11,500.00 - - - - Other financial liabilities - 1,333.62 - 1,681.01 - 1,476.99

- 14,579.53 - 3,037.54 - 2,145.04

I. Fair value hierarchy

II. Valuation techniques used to determine fair value

III. Valuation Process

IV. Fair value of financial instrument measured at amortised costFair value of Financial asset and liabilities are equal to their carrying amount except in case of Loans

(Rs. in lakhs)

Carrying Amt Fair Value Carrying Amt Fair Value Carrying Amt Fair ValueFinancial Assets:

Loans 202.11 196.28 186.38 185.61 136.71 136.71

Note:During the periods mentioned above, there have been no transfers amongst the levels of hierarchy.

The finance department performs the calculations of financial assets and liabilities required for financial reporting purposes. This team reports directly to the Chief OperatingOfficer (COO). Discussions of valuation processes and results are held between the COO and the finance team at least once in a month.

Particulars31 March 2019 31 March 2018 1 April 2017

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transactionbetween market participants at the measurement date.This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b)measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determiningfair value, the company has classified its financial instruments into the three levels prescribed under the Indian Accounting standard. An explanation of each level followsunderneath the table.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) is determined using valuationtechniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value aninstrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities,contingent consideration and indemnification asset included in level 3.

Significant valuation techniques used to value financial instruments include:• the fair value of forward foreign exchange contracts is determined using forward exchange rates at the balance sheet date.The fair values for investment in mutual fund are based on the Net Asset Value ("NAV") declared by respective schemes and Fair value of security deposits are based ondiscounted cash flows using a discount rate determined considering company's incremental borrowing rate.

The carrying amounts of cash and cash equivalent, Bank balances other than cash and cash equivalents, trade receivables, unquoted equity investment, loans, trade payables,other financial liabilities, borrowing other than debt securities are considered to be approximately equal to the fair value.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example: listed equity instrumentsthat have quoted market price.

Quoted mutual fund investment have been categorised into level 1 (recurring fair value measurement) and unquoted mutual fund investments and loans are categorised intolevel 2 of fair value hierarchy.

Particulars 31-Mar-19 31-Mar-18 01-Apr-17


29 Financial risk management

A Credit risk

Age of receivables that are past due: (Rs. in lakhs)

Particulars As at31 March 2019

As at31 March 2018

As at1 April 2017

Upto 3 months 498.61 1,066.50 1,797.96 3 - 6 months 44.74 - - 6 - 12 months - - - More than 12 months - - -

Total 543.35 1,066.50 1,797.96 Provision for expected credit loss - - -

B Liquidity risk

Liquidity risk management

(i) Maturities of non – derivative financial liabilities

As at 31 March 2019 (Rs. in lakhs)Particulars Upto 1 year Between 1 and 5

yearsBeyond 5 years Total

Financial LiabilitiesTrade payables 1,745.91 - - 1,745.91 Borrowings 11,710.15 - - 11,710.15 Other financial liabilities 1,292.63 29.52 - 1,322.15

Total 14,748.69 29.52 - 14,778.21

As at 31 March 2018 (Rs. in lakhs)Particulars Upto 1 year Between 1 and 5


Financial LiabilitiesTrade payables 1,356.53 - - 1,356.53 Other financial liabilities 1,651.44 29.57 - 1,681.01

Total 3,007.97 29.57 - 3,037.54

As at 1 April 2017 (Rs. in lakhs)Particulars Upto 1 year Between 1 and 5


Financial LiabilitiesTrade payables 668.05 - - 668.05 Other financial liabilities 1,418.17 58.82 - 1,476.99

Total 2,086.22 58.82 - 2,145.04

The Company’s management is responsible for liquidity and funding as well as settlement management. In addition, processes and policies related to such risks are overseen by senior management. Management monitors the Company’s net liquidity position through rolling forecasts on the basis of expected cash flows.

The Company is exposed to credit risk from its operating activities (primarily for trade receivables).

Impairment is not calculated on zero coupon bond, considering short maturity and high credit rating of investee. Bank balances are held with only high rated banks.

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. For the Company, liquidity risk arises from obligations on account of financial liabilities viz. Trade payables, Borrowing other than debt securities, financial liabilities.

The Company is exposed primarily to fluctuations in foreign currency exchange rates, credit, liquidity and price risk which may adversely impact the fair value of its financial instrument.The Company has a risk management policy which covers risk associated with the financial assets and liabilities. The risk management policy is approved by Board of Directors. The focusof the risk management is to assess the unpredictibility of the financial environment and to mitigate potential adverse effect on the financial performance of the Company. The Company's principal financial liabilities comprises of trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’sprincipal financial assets include investments, loans, cash and cash equivalents that derive directly from its operations.

To manage credit risk, the Company follows a policy of providing 0-30 days credit to the customers basis the nature of customers. For some of the customer company follows the policyof receiving advance payment towards services. The credit limit policy is established considering the current economic trends of the industry in which the company is operating.However, the trade receivables are monitored on a periodic basis for assessing any significant risk of non-recoverability of dues and provision is created accordingly.


C Market Risk

(i) Foreign currency risk

Foreign currency risk management

The company's exposure to foreign currency risk at the end of reporting period are as under:(Rs. in lakhs)

Particulars

Financial liabilitiesTrade payablesUSDNTD

Financial AssetsTrade receivablesEURONTDNet exposure to foreign currency risk

Sensitivity to foreign currency risk

Increase by 5% Decrease by 5% Increase by 5% Decrease by 5% Increase by 5% Decrease by 5%USD (2.00) 2.00 (1.03) 1.03 (0.44) 0.44 EURO (2.06) 2.06 (3.75) 3.75 (3.37) 3.37 NTD (5.08) 5.08 - - - -

(ii) Cash flow and fair value interest rate risk

(iii) Price risk

Sensitivity to price risk

(Rs. in lakhs)31-Mar-19 31-Mar-18 01-Apr-17

795.47 666.76 609.79 (795.47) (666.76) (609.79)

31 March 2017

INR

- 8.72

58.76

39.98 0.46

41.12

20.60 -

- 67.48 74.91

- 102.06

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: Foreign currency risk, interest rate risk and price risk.

The company is exposed to price risk from its investment in mutual funds, classified in the balance sheet at fair value through profit and loss.

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The risk primarily relates to fluctuations in communication charges in USD & offshore advisory fee in Euro against the functional currency of the Company.

In respect of the foreign currency transactions, the Company does not hedge the exposures since the management believes that the same is insignificant in nature and will not have a material impact on the Company.

Currencies 31 March 2018 1 April 201731 March 2019

The following table demonstrates the sensitivity in USD , Euro and NTD with all other variables held constant. The below impact on the Company's profit before tax is based on changes in the fair value of unhedged foreign currency monetary liabilities and asset at balance sheet date:

INR

102.74

31 March 2019 31 March 2018

INR

54.31

Impact on profit before tax for 5% increase in NAV/priceImpact on profit before tax for 5% decrease in NAV/Price

Sensitivity

Interest rate risk arises from the sensitivity of the financial liabilities to changes in market rate of interest. The Company has fixed rate borrowing which are carried at amortised cost, hence they are not subject to interest rate risk since the carrying amount and future cash flows will not fluctuate because of change in market interest rates.

The Investments held by the Company are ancillary to the Investment management business objective.

The following table summarises the impact of sensitivity of NAVs with all other variables held constant. The below impact on the Company's profit before tax is based on changes in the NAVs of mutual funds at balance sheet date:



30 Capital Management

A Risk management

B The capital composition is as follows:Particulars 31-Mar-19 31-Mar-18 01-Apr-17

Gross debt 11,500.00 - - Less: Cash and bank balances (87.29) (48.42) (14.07) Net debt (A) 11,412.71 (48.42) (14.07) Total equity (B) 13,328.35 14,403.77 13,527.55 Gearing ratio (A / B) 85.63% -0.34% -0.10%

C Net debt reconciliation

ParticularsBorrowing other

than debt securities

Net debt as on 1 April 2018 - Cash flows 11,500.00 Interest paid (115.95) Finance cost 115.95 Net debt as on 31 March 2019 11,500.00

The Company’s objectives when managing capital are to• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for otherstakeholders, and• maintain an optimal capital structure to reduce the cost of capital.

The company monitors its capital by using gearing ratio, which is net debt to total equity. Net debt includes non-current borrowings net of cash and


31 Related Party Disclosures

Related party disclosures as required under Indian Accounting Standard 24, “Related party disclosures” are given below:

I Venturer in respect of which the Company is a joint venture.

(i) PGLH of Delaware,Inc. (ii) DHFL Pramerica Trustees Private Limited

II Mutual Fund managed by the Company (i) DHFL Pramerica Mutual Fund

III Key Management Personnel (i) Glenwyn Peter Baptist (Director)* (ii) Kapil Wadhawan (Director)* (iii) Suresh Mahalingam (Director)* (iv) Jan Van Den Berg (Director)* (iv) Mr. C.P. Philip (Non-Executive Director) (iv) Mr. G. Parthasarathy (Non-Executive Director) (iv) Mr. Vijay Ranchan (Non-Executive Director) (iv) Dr. V. R. Narasimhan (Non-Executive Director) (vi) Ajit Menon (Chief Executive Officer with effect from October 06, 2018 ) (vii) Rajesh Iyer (Chief Executive Officer with effect from March 21, 2018 to October 5, 2018)

* No transaction during the year


(a) Transactions during the year(Rs. in lakhs)

Particulars Nature of Transactions 31 March 2019 31 March 2018 1 April 2017PGLH of Delaware. Inc. Share Capital - - 30,000.00

- - DHFL Advisory & investment Pvt. Ltd Share Capital - - 30,000.00

- - Dewan Housing Finance Corporation Limited Rent and other expenses 2.90 5.64 3.50

Recovery of expenses - 9.38 - Brokerage and scheme related expenses - 4.05 1.30

II Mutual Fund managed by the Company

(a) Transactions during the year

DHFL Pramerica Mutual Fund: Purchase / Subscription of units 64,979.60 27,757.88 17,870.60 Sales / Redemption of units 63,240.88 27,506.38 13,424.16 Management Fees (Income) 6,860.20 10,715.17 9,747.43 Brokerage and scheme related expenses 2,712.61 61.06 647.06 Recovery of Brokerage 461.71 280.32 -

(b) Balance as at year end

DHFL Pramerica Mutual Fund: Trade Receivable 109.70 615.35 1,537.04 Other Current Liability 211.48 21.81 10.51

Dewan Housing Finance Corporation Limited along with its wholly owned subsidiary DHFL Advisory & Investment Private Limited

The nature of transactions during the year / Balance as at year end with the above related parties in the ordinary course of business are as follows:

III Key Management Personnel(Rs. in lakhs)

(a) Transactions during the year Nature of Transactions 31 March 2019 31 March 2018 1 April 2017

Suresh Soni - Chief Executive Officer Salaries and Bonus - 574.20 438.71 (upto January 17, 2018)

Contribution to Provident and Other Fund* - 14.81 17.24

Ajit Menon - Chief Executive Officer Salaries and Bonus 62.62 19.00 - (with effect from 6th October 2018 to 31st March 19)

Contribution to Provident and Other Fund* 3.55 1.05 -

Rajesh Iyer - Chief Executive Officer Salaries and Bonus 143.35 8.66 - (with effect from 01st April 2018 to 5th October 2018)

Contribution to Provident and Other Fund* 7.82 - -

Rajiv Dubey (Non Executive director) Sitting fees - 1.60 2.00

C P Philip (Non Executive director) Sitting fees 3.60 4.00 3.20

G Parthasarathy (Non Executive director) Sitting fees 2.00 1.60 1.60

Vijay Ranchan (Non Executive director) Sitting fees 2.00 2.00 1.60 Reimbursement for Conveyance 0.13 0.09

V R Narasimhan (Non Executive director) Sitting fees 1.60


Suresh Soni - Chief Executive Officer Employee benefits Payable - - 88.28 (upto January 17, 2018)

Rajesh Iyer - Chief Executive Officer Employee benefits Payable - 8.66 - (w.e.f. March 21, 2018)

c) Key managerial personnel compensation(Rs. in lakhs)

Particulars 31 March 2019 31 March 2018Short term employee benefits# 215.30 611.06 Post-employment benefits 11.37 15.86 Total 226.67 626.92

#As gratuity, compensated absences and other long term employee benefits are computed for all employees in aggregate, the amounts relating to the Key Management Personnel cannot be individually identified.


32 Revenue from contracts with customers:a)

Investment management fees

Portfolio management fees Investment advisory services - Offshore

Total Revenue from contracts with customers 6,860.20 1,289.59 385.45

Geographical Markets

India 6,860.20 1,289.59 - Outside India - - 385.45 Total Revenue from contracts with customers 6,860.20 1,289.59 385.45

Timing of revenue recognition

Services transferred at a point in timeServices transferred over time 6,860.20 1,289.59 385.45 Total Revenue from contracts with customers 6,860.20 1,289.59 385.45

b) Contract balances

Balances 31-Mar-19 31-Mar-18Trade receivablesInvestment management fees 109.70 615.35 Portfolio management fees 351.73 376.25 Investment advisory services - Offshore 143.18 74.91

c) Contract liabilities

d) Contract costs

Movement of contract cost31-Mar-19 31-Mar-18

At the beginning of the year 182.20 72.82Addition during the year 249.06 147.32Amortised during the year 129.45 37.94Closing balance 301.81 182.20

e) Performance obligations

Trade receivable are non-interest bearing balances having credit period of 0-30 days.

There are no contract liabilities

The performance obligation of the company is to provide investment asset management and portfoilio management services. The performanceobligation of Company is satisfied at a point in time and payment is due within 0-30 days.

Upfront brokerage amounting to Rs. 223.57 lakhs on closed ended fixed tenure scheme is amortised over the tenure of respective schemes.Brokerage amounting to Rs. 78.24 lakhs on equity oriented mutual fund is amortised over the period of three years, which is customer relationshipperiod.

Type of service

Disaggregation of revenue

(Rs. in lakhs)Set out below is the disaggregation of revenue from contracts with customers and reconciliation to profit and loss account:


33 Maturity Analysis of Assets and Liabilities:

(Rs. in lakhs)

Assets Within 12 months After 12 months Total Within 12 months

After 12 months

Total Within 12 months

After 12 months

Total

Financial assetsCash and cash equivalents 37.16 - 37.16 48.42 - 48.42 14.07 - 14.07 Bank balances other than cash and cash equivalents 50.13 - 50.13 - - - - - -

Trade receivables 599.27 - 599.27 1,066.51 - 1,066.51 1,797.96 - 1,797.96 Loans 5.90 196.21 202.11 66.12 120.26 186.38 0.75 135.96 136.71 Investments 16,174.71 7,257.70 23,432.41 6,496.25 6,848.59 13,344.84 9,052.89 3,142.86 12,195.75 Other financial assets 28.89 - 28.89 - - - - - -

Non-Financial assetsCurrent tax assets (net) - 2,631.08 2,631.08 - 2,031.61 2,031.61 - 1,138.09 1,138.09 Property, plant and equipment - 254.11 254.11 - 237.36 237.36 - 319.85 319.85 Intangible assets - 74.91 74.91 - 15.50 15.50 - 35.74 35.74 Other non-financial assets 700.68 319.72 1,020.40 1,854.64 264.96 2,119.60 196.08 83.18 279.26 Total Assets 17,596.74 10,733.73 28,330.47 9,531.94 9,518.28 19,050.22 11,061.75 4,855.68 15,917.43

LiabilitiesFinancial LiabilitiesTrade payables 1,745.91 - 1,745.91 1,356.53 - 1,356.53 668.05 - 668.05 Borrowings 11,710.15 - 11,710.15 - - - - - - Other financial liabilities 1,292.63 29.52 1,322.15 1,651.44 29.57 1,681.01 1,418.17 58.82 1,476.99

Non Financial LiabilitiesProvisions 43.36 18.83 62.19 124.49 19.89 144.38 44.78 31.17 75.95 Other non financial liabilities 360.40 - 360.40 1,464.52 - 1,464.52 168.89 - 168.89 Total Liabilities 15,152.45 48.35 15,200.80 4,596.98 49.46 4,646.44 2,299.89 89.99 2,389.88

The table below shows an analysis of assets and liabilities analysed according to when they are expected to be recovered or settled.

31-Mar-18 01-Apr-1731-Mar-19


34

(Rs. in lakhs)Particulars Year ended Year ended

31 March 2019 31 March 20181) Segment revenue- Within India 8,149.79 11,846.99 - Outside India 385.45 307.72

2) Carrying amount of segment assets- Within India 3,980.50 4,404.06 - Outside India - -

35 Earning per share (Rs. in lakhs)

31-Mar-19 31-Mar-18Profit/Loss for the financial year, attributable to shareholders (1,104.67) 927.90 Weighted average number of equity shares in calculating basic and diluted EPS 10,84,93,836 10,84,93,836

Basic and diluted earnings per share (in Rs.) [Refer note below] (1.02) 0.86 Nominal value per share (in Rs.) 10.00 10.00

36 Employee benefitsAs per Ind AS-19 ‘Employee Benefits’, the disclosure of Employee benefits as defined in the Standard are given below:

(A) (Rs. in lakhs)31 March 2019 31 March 2018

214.04 177.33

(B) Defined Benefit Plan :The Company has the following defined benefits plans:

ParticularsGratuity

Defined Contribution Plan: Following amount is recognized as an expense and included in "Note No. 19 - Employee Benefits Expenses"

Description of segments and principal activitiesThe Company is in the business of providing of asset management services to the fund and portfolio management service to clients. The primary segment is identified as asset management services which is regularly reviewed by the Chief Operating Decision Maker for assessment of Company’s performance and resource allocation. As such the Company’s financial statements are largely reflective of the asset management business. For the purpose of disclosure of segment information, the Company considers this operations as the only reportable segment based on business activities.

Provident fund and other fundParticulars

Remarks

Note:The Company does not have any outstanding dilutive potential equity shares as at 31 March 2019 and 31 March 2018. Consequently, basic and diluted earningsper share of the Company remains the same.

Segment reporting:

Particulars

The information relating to revenue from external customers and location of non-current assets of its single reportable segment has been disclosed as below:

Revenues of Rs. 6890 (31 March 2018 - Rs.1,06,83.59) is derived from a single customer.

Funded

Contribution to Gratuity fund (funded scheme)In accordance with Indian Accounting Standard 19, actuarial valuation was done in respect of the aforesaid defined benefit plan of gratuity based on the following assumptions:-


(Rs. in lakhs)31 March 2019 31 March 2018 01 April 2017

(i) Actuarial assumptionsDiscount rate (per annum) 7.09% 7.37% 7.20%Salary escalation rate 7.00% 10.00% 8.00%Attrition rate 21.00% 19.00% 10.00%Retirement age 60.00 60.00 60.00

Pre-retirement mortality

IALM (2012-14) Ultimate

Indian Assured Lives Mortality

(2006-08) Ultimate

Indian Assured Lives Mortality

(2006-08) Ultimate

Disability Nil Nil Nil

(ii) Asset informationGratuity is administered through a Trust Fund set up with Life Insurance Corporation of India, an InsurerLeave encashment is administered on a pay as you go basis and no segregation of assets done

(iii) Changes in the present value of defined benefit obligationDefined benefit obligation at beginning of period 123.01 86.86 100.64 Current Service Cost 55.72 28.12 22.75 Past Service cost - - - Actuarial (gain) /loss - - - Benefit payments from plan (74.06) (47.69) (50.64) Interest cost 6.34 4.54 6.03 Effect of changes in demographic assumptions (2.52) (11.53) - Effect of changes in financial assumptions (6.70) 5.61 1.98 Effect of experience adjustments (16.48) 57.10 6.10 Defined benefit obligation at end of period 85.31 123.01 86.86 Current 6.27 13.82 4.37 Non current 79.03 109.19 82.49

(iv) Changes in the Fair value of Plan AssetsFair value of plan assets at beginning of the year 38.17 82.02 95.09 Interest Income 5.61 4.33 7.08 Employer contributions 140.94 - 29.84 Benefit payments from plan assets (74.06) (47.69) (50.64) Return on plan assets (excluding interest income) 3.54 (0.49) 0.65 Fair Value of Plan Assets at the end of the year 114.20 38.17 82.02

(v) Assets and liabilities recognised in the balance sheetDefined benefit obligation 85.31 123.01 86.86 Fair value of plan assets (114.20) (38.17) (82.02) Funded status (28.89) 84.84 4.84 Effect of asset ceiling - - Net defined benefit liability (asset) (28.89) 84.84 4.84

Expenses recognised in the Statement of Profit and Loss (Rs. in lakhs)(vi) Particulars 31 March 2019 31 March 2018 01 April 2017

Current Service Cost 55.72 28.12 22.75 Interest cost on net DBO 0.72 0.21 (1.06) Past Service Cost - - - Total expenses recognised in the Statement of Profit and Loss 56.44 28.33 21.69 Included in note 19 ‘Employee benefits expense’

Expenses recognised in the Statement of other comprehensive income (Rs. in lakhs)(vii) Particulars 31 March 2019 31 March 2018 01 April 2017

Remeasurements (recognized in OCI):Effect of changes in demographic assumptions (2.52) (11.53) - Effect of changes in financial assumptions (6.70) 5.61 1.98 Effect of experience adjustments (16.48) 57.10 6.10 (Return) on plan assets (excluding interest income) (3.54) 0.49 (0.64) Total remeasurements included in OCI (29.24) 51.67 7.44

(viii) Sensitivity Analysis:(Rs. in lakhs)

Particulars 31 March 2019 31 March 2018 01 April 2017Discount rate +100 basis points 80.99 116.56 80.43 Discount rate -100 basis points 90.02 130.10 94.19 Salary Increase Rate +1% 89.56 129.27 91.50 Salary Increase Rate -1% 81.33 117.19 82.33 Attrition Rate +1% 83.60 120.58 86.18 Attrition Rate -1% 87.06 125.57 87.51

Please note that the sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change inassumptions would occur in isolation of one another as some of the assumptions may be correlated. There is no change in the method of valuation for the prior period.

Particulars


(xi) Projected plan cash flow(Rs. in lakhs)

Amount Rs Amount Rs Amount Rs31-Mar-19 31-Mar-18 31-Mar-17

Expected employer contributions Next Year 53.90 39.13 21.21 Expected total benefit payments - Year 1 6.27 13.82 4.37 Year 2 5.85 11.58 5.59 Year 3 13.24 11.27 5.48 Year 4 13.66 18.30 5.63 Year 5 14.28 17.69 7.25 Next 5 years 43.74 59.72 32.27

Compensated absences and Long term service award:

Compensated absencesEvery employee is entitled to a carry forward of 10 days un-availed leave to next calendar year.

Compensated absences is a defined benefit obligation and is wholly unfunded.

Present value of Defined Benefit Obligation

Compensated absences

Long term service awards





Balance at the beginning of the year 47.31 12.22 38.34 32.77 20.79 32.91 Current Service Cost 6.15 4.20 7.42 4.01 4.54 5.52 Interest Cost 3.49 0.87 2.76 2.28 1.50 2.34 Actuarial Loss/ (Gain) (6.58) (4.78) (1.21) (24.74) 11.51 (7.31) Benefits Paid - (0.70) - (2.10) - (0.70) Past Service Costs - - - - - - Curtailments - - - - - - Settlements - - - - - - Balance at the end of the year 50.36 11.81 47.31 12.22 38.34 32.76

Fair Value of Plan Assets







Balance at the beginning of the year - - - - - Expected Return on Plan Assets - - - - - Actuarial (Gains) / Losses - - - - - Contribution by the Company - 0.70 - 2.10 - 0.70 Contribution by plan participants - - - - - Benefits paid - (0.70) - (2.10) - (0.70) Settlements - - - - Balance at the end of the year - - - - - -

Assets and Liabilities recognised in the Balance Sheet







Present Value of Defined Benefit Obligation 50.36 11.82 47.31 12.22 38.34 32.77 Less: Fair value of Plan Assets - - - - - Less: Unrecognised Past Service Cost - - - - - Amount recognised as liability 50.36 11.82 47.31 12.22 38.34 32.77

Recognised under :Long-term provisions 7.01 11.82 7.66 12.22 0.46 30.70 Short-term provisions 43.36 - 39.65 - 37.88 2.07

50.36 11.82 47.31 12.22 38.34 32.77







Current Service Cost 6.15 4.20 7.42 4.01 4.54 5.52 Interest Cost 3.49 0.87 2.76 2.28 1.50 2.34 Expected return on plan assets - - - - - - Actuarial (Gain) / Loss (6.58) (4.78) (1.21) (24.74) 11.51 (7.31) Past Service Costs - - - - - - Curtailments - - - - - - Settlements - - - - - - Net loss/(gain) to be provided as expense in Statement of Profit and Loss 3.04 0.29 8.97 (18.45) 17.55 0.55







Government Securities (Central and State) - - - - - - Corporate Bonds / Deposits / Commercial Papers / Money Market Instruments

- - - - - - Others - - - - - - Total - - - - - -

(iii)

Year ended Year endedMarch 31, 2019 March 31, 2018

(iv)

(ii)

Year ended Year ended

Expenses recognised in the Statement of Profit and Loss

March 31, 2019 March 31, 2018

March 31, 2019 March 31, 2018(v) Major Category of Plan Assets as a % of total Plan Assets


(i)March 31, 2018

Year endedYear endedMarch 31, 2019

Year endedMarch 31, 2017

Expected cash flows for following year













Discount Rate 7.09% 7.09% 7.37% p.a. 7.37% p.a. 7.20% 7.20%Expected Return on Plan Assets 0.00% - 0.00% - Salary Growth Rate 7.0% 10.00% - 8.00% - Attrition Rate 21.0% 21.0% 19.00% 19.00% 10.00% 10.00%Mortality Table



India Assured Lives Mortality

(2006-08) Ultimate

India Assured Lives Mortality (2006-08)

Ultimate


(2006-08) Ultimate


(2006-08) Ultimate

Retirement Age 60 yrs 60 yrs 60 yrs 60 yrs 60 yrs 60 yrs

37 Leases

a)

(Rs. in lakhs)

31-Mar-19 31-Mar-18

With respect to all operating leases:Lease payment recognised in Statement of Profit & Loss 421.01 373.54

421.0 373.54

b)

31-Mar-19 31-Mar-18 01-Apr-17Not later than one year 121.82 - 60.00 Later than one year and not later than five years 131.75 - - Later than five years - - -

253.57 - 60.00

38 Brokerage and Scheme related expenses

(Rs. in lakhs)31-Mar-19 31-Mar-18

2,234.34 3,116.58 183.61 29.48 292.14 436.79 19.68 36.28

2,729.77 3,619.13

39 Transfer Pricing

(vi)


Actuarial Assumptions

The Company has taken various offices under operating lease or leave and license agreements. These lease arrangements range for a period between 11 months and 60 months, which include both cancellable and non-cancellable lease. Few of the leases are renewable for further period on mutually agreeable terms and also include escalation clauses.

ParticularsScheme and New Fund Offer Brokerage

The total future minimum lease payments under non-cancellable operating lease for each of the periods is given below:

Particulars

Interest on BorrowingRegistrar and Transfer Agent FeesFund Accounting FeesTotal

The Company will be carrying out a transfer pricing study for the year ended March 31, 2019 in accordance with the transfer pricing rules, issued by the Central Board of Direct Taxes and will obtain an accountant's report. Adjustment towards provision for taxation, if any, on completion of the transfer pricing study is currently not ascertainable. On the basis of self-assessment of the operations of the Company during the year, the management does not expect any significant deviations from the requirement of the Legislation.

Till previous year, the Company was booking brokerage on equity schemes, spillover and Interest on borrowings made by schemes of DHFL Pramerica MutualFund. With effect from July 01, 2017 the Company started absorbing the scheme expenses like Brokerage for Debt schemes, Registrar and Transfer Agent Feesand Fund Accounting fees.

Particulars

Compensated absences recognized in the statement of profit and loss for the current year, under the employee cost in Note 24, is Rs.3.05 lakhs for the year 31 March 2019 and Rs. 8.97 lakhs for the year 31 March 2018Long term service awards recognized in the statement of profit and loss for the current year, under the employee cost in Note 24, is Rs.0.03 lakhs for the year 31 March 2019 and Rs.(18.44) lakhs for the year 31 March 2018


The expected rate of return on assets is determined based on the assessment made at the beginning of the year on the return expected on its existing portfolio, along with the estimated increment to the plan assets and expected yield on the respective assets in the portfolio during the year.


40 First time adoption of Ind AS

A First Ind AS Financial statementsThese are the Company’s first separate financial statements prepared in accordance with Ind AS applicable as at 31 March 2019.

The accounting policies set out in note 1 have been applied in preparing the financial statements for the year ended 31 March 2019, thecomparative information presented in these financial statements for the year ended 31 March 2018 and in the preparation of an opening IndAS balance sheet at 1 April 2017 (the date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted theamounts reported previously in financial statements prepared in accordance with the accounting standards notified under Companies(Accounting Standards) Rules, 2006 (as amended) and other relevant provisions of the Act (previous GAAP or Indian GAAP).

An explanation of how the transition from previous GAAP to Ind AS has affected the company’s financial position, financial performanceand cash flows is as follows:

Exemptions and exceptions availed

Set out below are the applicable Ind AS 101 optional exemption and mandatory exemption applied in the transition from Previous GAAP toInd AS.

(i) Optional exemptions availed

Application of effective interest rateAs per Ind AS 101 if it is impractical to apply the effective interest method in Ind AS 109 retrospectively. The fair value of financial assets orfinancial liability at the date of transition to Ind AS is the new gross carrying amount of that financial asset or the new amortised cost of thatfinancial liability.

Accordingly, the Company has elected the above exemption of fair value measurement of financial assets or financial liabilities

(ii) Mandatory exceptions applied

EstimatesAn entity’s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent with estimates made for the same datein accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence thatthose estimates were in error.

Ind AS estimates as at 1 April 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP exceptwhere Ind AS required a different basis for estimates as compared to the previous GAAP.


B

Reconciliation of equity from previous GAAP to Ind AS (Rs. in lakhs)

Particluars Note Equity as at 31 March 2018 Equity as at 1 April 2017

Equity as per previous GAAP 13,816.07 13,040.04 GAAP adjustments:Impact on account of financial asset measured at FVTPL B.1 590.26 487.51 Impact of financial assets measured at amortised cost B.2 (2.55) - Total - GAAP adjustments 587.71 487.51 Equity as per Ind AS 14,403.78 13,527.55

Reconciliation of total comprehensive income from previous GAAP to Ind AS (Rs. in lakhs)Particluars Note 31 March 2018

Net Profit/(loss) for the period as per previous GAAP 776.03 GAAP adjustments:Impact on account of financial asset measured at FVTPL B.1 102.75 Impact of financial assets measured at amortised cost B.2 (2.55) Impact of recognising actuarial (gains) / losses on defined benefit obligations in OCI B.3 51.67 Total - GAAP adjustments 151.87 Net profit / (loss) after tax as per Ind AS 927.90 Impact of recognising actuarial gains / (losses) on defined benefit obligations in OCI B.3 (51.67) Total comprehensive income / (loss) after tax as per Ind AS 876.23

All the adjustments on account of Ind AS are non-cash in nature, hence there is no material impact on the Statement of Cash flows.

Explanations to reconciliations

B.1

B.2 Impact of financial assets measured at amortised cost

B.3





First time adoption reconciliations

Impact on account of financial asset measured at FVTPL

Previous GAAP – Investment in mutual fund are classified as current and non current investments. Current Investments are accounted at lower of cost or fair value and Non current investment are carried at cost.Ind AS – Investment in mutual funds are financial assets. For the purposes of Ind AS 109, mutual fund investments will be accounted at fair value through profit and loss at each reporting date.

Consequent, to the change impact of Rs. 487.51 lakhs and Rs. 590.26 lakhs on equity was made on the transition date and as at 31 March 2018 respectively. Further, impact of Rs. 102.75 lakhs was made in the statement of profit and loss for the year ended 31 March 2018.

Previous GAAP - The interest free rent deposits given to lessor / vendor are recorded at their gross transaction value.Ind AS - Deposits given are financial assets and are initially recognised at fair value.The difference between the fair value and transaction value of the deposits has been recognised as prepaid rent and amortised over deposit period. Subsequently, the deposit will be measured at amortised cost resulting into recognition of rent expenses and accrual of finance income in the statement of profit and loss.

Consequent to the change, the impact of Rs. Nil and Rs. (2.55) lakhs on equity was made on the transition date and as at 31 March 2018 respectively. Further, impact of Rs. (2.55) lakhs was made in the statement of profit or loss for the year ended 31 March 2018.

Impact of recognising actuarial gains / (losses) on defined benefit obligations in other comprehensive income

Previous GAAP - Actuarial gains / losses on defined benefit obligations is recognised in statement of profit and loss.

Ind AS - Actuarial gains / losses on defined benefit obligations is recognised in other comprehensive income (OCI). Consequently, actuarial loss of Rs. 51.67 lakhs has been reclassified to OCI during the year ended 31 March 2018.

DHFL PRAMERICA TRUSTEE PRIVATE LIMITED CIN : U67190MH2009FTC193009

Audited Financial Statements For the year ended 31st March, 2019

DHFL PRAMERICA TRUSTEES PRIVATE LIMITED

Balance sheet as at 31 March 2019

(All amount in INR lakhs, unless stated otherwise)

NoteAs at

31 March 2019

As at

31 March 2018

As at

1 April 2017

I. Assets

1 Non-current assets

Income tax assets (net) 3 4.67 11.79 5.04

Other non-current assets 4 - - 1.12

Total Non-current assets 4.67 11.79 6.16

2 Current assets

Financial assets

Investments 5 48.52 8.77 1.81

Cash and cash equivalents 6 0.38 1.96 2.10

Trade receivables 7 - - 4.37

Other current assets 8 1.18 5.33 6.39

Total Current assets 50.08 16.06 14.67

Total Assets 54.75 27.85 20.83

II. EQUITY AND LIABILITIES

A Equity

Equity share capital 9 10.00 10.00 10.00

Other equity 10 41.17 4.25 (0.98)

51.17 14.25 9.02

B Liabilities

1 Non-current liabilities

Deferred tax liabilities (net) 11 0.34 0.05 0.00

0.34 0.05 0.00

2 Current liabilities

Financial liabilities

Trade payables 12

- Dues to micro, small and medium enterprises - - -

- Dues to others 1.81 10.70 10.72

Other current liabilities 13 1.43 2.85 1.09

3.24 13.55 11.81

Total Equity and Liabilities 54.75 27.85 20.83

Significant accounting policies 1- 2

Notes on financial statements 3-25

For Walker Chandiok & Co LLP For and on behalf of the Board of Directors of

Firm Registration Number: 001076N/N500013 DHFL Pramerica Trustees Private Limited

Chartered Accountants

Manish Gujral

Partner Director Director

Membership No: 105117 DIN- DIN-

Place : Mumbai

Date : April 23, 2019

Particulars


Statement of Profit and Loss for the year ended 31 March 2019


Note Year ended

31 March 2019

Year ended

31 March 2018

I. Revenue from operations 14 80.00 80.00

II. Other Income 15 1.97 0.81

III. Total Revenue (I + II) 81.97 80.81

IV. Expenses

Other expenses 16 31.69 74.32

Total expenses 31.69 74.32

V. Profit before tax (III-IV) 50.28 6.49

VI. Tax expense 17

(i) Current tax 13.07 1.21

(ii) Deferred tax 0.29 0.05

13.36 1.26

VII Net profit after tax (V-VI) 36.92 5.23

VIII Earnings per equity share: 24

Basic and diluted (in Rs.) 36.92 5.23

Face value per share (in Rs.) 10.00 10.00

Significant accounting policies 1

Notes on financial statements 2-25




Manish Gujral Director Director

Partner DIN- DIN-

Membership No: 105117

Place : Mumbai


Particulars


Cash flow statement for the year ended 31 March 2019


For the year ended

31 March 2019

For the year ended

31 March 2018

A Cash flow from operating activities

Profit after tax 36.92 5.23

Adjustment for:

Fair value changes of financial Assets classified at FVTPL (1.59) (0.81)

Profit on sale of current investments - -

Tds receivable written off related to earlier years 3.34 0.05

Operating profit before working capital changes 38.67 4.47

Changes in Working Capital:

(Decrease) / Increase in Trade payables (8.89) (0.02)

Increase / (Decrease) in Other current liabilities (1.42) 1.76

Decrease in Trade receivables - 4.37

Decrease / (Increase) in Short-term loans and advances 4.15 1.06

Decrease in Long-term loans and advances (0.03) 1.12

Cash generated from operations 32.48 12.76

(Payment)/Refund of tax(net) 4.10 (6.74)

Net cash (used in) operating activities 36.58 6.01

B Cash flows from investing activities

Proceeds from sale of Current investments 31.06 33.00

Purchase of Current investments (69.22) (39.15)

Net cash (used in) investing activities (38.16) (6.15)

C Cash flows from financing activities - -

Net cash flow generated from financing activities - -

Net Increase/(decrease) in cash and cash equivalents (A + B + C) (1.58) (0.14)

Cash and cash equivalents at the beginning of the year 1.96 2.10

Cash and cash equivalents at the end of the year 0.38 1.96

Cash and cash equivalents include the following

Balances with banks in current account 0.38 1.96

Total cash and cash equivalents (Refer note 6) 0.38 1.96

Notes:




Manish Gujral Director Director

Partner DIN- DIN-

Membership No: 105117

Place : Mumbai


Particulars

(ii) The above Standalone Cash Flow Statement has been prepared under indirect method as set out in Ind AS-7-Cash Flow Statement

notified under the Section 133 of the Companies Act, 2013.

(i) Figures in brackets represent cash outflow.


Statement of Changes in Equity for the year ended 31 March 2019


Equity Share Capital

Number of shares Amount

As at 1 April 2017 9 1,00,000 10.00 10.00

Changes during the year - - -

As at 31 March 2018 9 1,00,000 10.00 10.00

Changes during the year - - -

As at 31 March 2019 1,00,000 10.00 10.00

Other equity

Retained earnings Initial contribution

from Sponsors

Balance as at 1 April 2017 (2.98) 2.00 (0.98)

Profit for the year 5.23 - 5.23

Balance as at 31 March 2018 2.25 2.00 4.25

Profit for the year 36.92 - 36.92

Balance as at 31 March 2019 39.17 2.00 41.17

Total

TotalParticulars

Equity share capitalNote

Particulars

Reserves and Surplus

1 Significant accounting policies and other explanatory information for the year ended 31 March, 2019

Company information

2 Basis of Preparation

2.1 Significant accounting policies

2.2 Revenue recognition

Trusteeship fees are accrued at fixed rate as approved by Board.

2.3 Other Income

2.4 Cash and cash equivalents



The preparation of financial statements in conformity with the Generally Accepted Accounting Principles requires management to make certain estimates and

assumptions that affect reported amount of assets, liabilities, revenue and expenses (including disclosure of contingent liabilities) as on the date of the financial

statements and the reported income and expenses during the reporting period. The estimates and assumptions used in the accompanying financial statements

are based on management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may differ from those

estimates. Any revisions to accounting estimates are recognised prospectively in current and future periods.

The company has prepared its financial statements to comply in all material respects with the provisions of the Companies Act, 2013 (the Act) and rules

framed thereunder. In accordance with the notification issued by the Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards

(Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 under Section 133 of the Act, with effect from 1 April 2018. Till 31 March

2018, the Company used to prepare its financial statements as per Companies (Accounting Standards) Rules, 2014 (Previous GAAP) read with rule 7 and other

relevant provisions of the Act. These are the first Ind AS Financial Statements of the Company. The transition from Previous GAAP to Ind AS has been

accounted for in accordance with Ind AS 101 “First Time Adoption of Indian Accounting Standards”, with 1 April 2017 being the transition date and balance

for the comparative period have been restated accordingly. As per Ind AS 101, the Company has presented a reconciliation of its transition from Previous

GAAP to Ind AS of its total equity as at 1 April 2017 and 31 March 2018 and reconciliation of total comprehensive income and cash flow for the year ended

31 March 2018. Please refer note 25 for detailed information on the transition.

The financial statements have been prepared on a historical cost convention and accrual basis, except for certain financial assets and liabilities that are

measured at fair value.

All assets and liabilities have been classified as current or non-current as per the Company’s operating cycle and other criteria set out in the Schedule III to the

Companies Act, 2013. Based on the nature of services and the time between the rendering of services for processing and their realisation in cash and cash

equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current – non current classification of assets and liabilities.

The Company is a Small and Medium sized Company (SMC) as defined in the General Instructions in respect of Accounting Standards notified under the Act.

Accordingly, the Company has complied with the Accounting Standards as applicable to SMC, to the extent applicable.

Pursuant to the SEBI’s grant of no-objection for change in the controlling interest, Company became a joint venture between Prudential Financial, Inc (PFI)

and Dewan Housing Finance Corporation Limited (DHFL), with PGLH of Delaware, Inc (PGLH) along with Pramerica Financial Asia Limited (PFAL)

holding 50% of the paid-up share capital of the Company and DHFL holding remaining 50% of the paid-up share capital (as on 31 March 2016). The share

transfer between PGLH and DHFL was completed on 11 August 2015.

The Company’s principal activity is to act as a trustee to DHFL Pramerica Mutual Fund (the ‘Fund’). The Company is registered as a trustee with Securities and

Exchange Board of India (SEBI) under SEBI (Mutual Funds) Regulations, 1996.

DHFL Pramerica Trustees Private Limited (the “Company”) was incorporated on 04 June 2009 as a private limited company under the Companies Act, 1956

of India and a limited company within the meaning of Companies Act, 2013 of India (the “Act”).

Interest income for debt instruments is recognised using the effective interest rate method. The effective interest rate is the rate that exactly discounts estimated

future cash receipts through the expected life of the financial asset to the gross carrying amount of a financial asset. When calculating the effective interest rate,

the company estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example prepayment, extension, call

and similar options) but does not consider the expected credit losses.

Dividend are recognised in profit or loss only when the right to receive payment is established, it is probable that the economic benefits associated with the

dividend will flow to the company, and the amount of the dividend can be measured reliably.

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions,

other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which

are subject to an insignificant risk of changes in value, and bank overdrafts.



2.5 Current and deferred tax

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period.

2.6 Provisions, Contingent Liabilities

2.7 Earning per share

2.8 Investments and financial assets

The classification depends on the Company’s business model for managing the financial assets and the contractual terms of the cash flows.

The Company reclassifies debt investments when and only when its business model for managing those assets changes.

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of

resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the

effect of the time value of money is material, provisions are discounted using equivalent period government securities interest rate. Unwinding of the discount

is recognised in the statement of profit and loss as a finance cost. Provisions are reviewed at each balance sheet date and are adjusted to reflect the current best

estimate.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence

or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events

where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made. Contingent assets are

not recognised, but disclosed in the financial statements. However, when the realisation of income is virtually certain, then the related asset is no longer a

contingent asset, but it is recognised as an asset.

For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt

instruments, this will depend on the business model in which the investment is held. For investments in equity instruments, this will depend on whether the

Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive

income.

Deferred tax asset are recognised to the extent that taxable profit will be available against which the deductible temporary differences and the carry forward of

unused tax credits and unused tax losses can be utilised. The carrying amount of deferred tax assets are reviewed at each reporting date and reduced to the

extent that it is no longer probable sufficient taxable profit will be available to allow or part of deferred income tax assets to be utilised. At each reporting date,

the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax asset to the extent that it has become reasonably certain, as

the case may be, that sufficient future taxable income will be available against which such deferred tax assets can be realized.

The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate adjusted by

changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

Deferred income tax is provided in full, using the balance sheet approach, on temporary differences arising between the tax bases of assets and liabilities and

their carrying amounts in the financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill.

Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that

at the time of the transaction affects neither accounting profit nor taxable profit (tax loss). Deferred income tax is determined using tax rates (and laws) that

have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is realised

or the deferred income tax liability is settled.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances

relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to

settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in

equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

Classification

The company classifies its financial assets in the following measurement categories:

• those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and

• those measured at amortised cost.

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of

equity shares outstanding during the period.

Earnings considered in ascertaining the Company’s earnings per share is the net profit for the period after deducting preference dividends and any attributable

tax thereto for the period. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events,

such as bonus shares, other than the conversion of potential equity shares that have changed the number of equity shares outstanding, without a corresponding

change in resources.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average

number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.



Measurement

Measurement of debt instruments

De-recognition of financial assets

A financial asset is derecognised only when

• The Company has transferred the rights to receive cash flows from the financial asset or

• retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or more

recipients.

Where the Company has transferred an asset, the company evaluates whether it has transferred substantially all risks and rewards of ownership of the financial

asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially all risks and rewards of ownership of the financial

asset, the financial asset is not derecognised.

Where the Company has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the financial asset, the financial asset

is derecognised if the Company has not retained control of the financial asset. Where the Company retains control of the financial asset, the asset is continued

to be recognised to the extent of continuing involvement in the financial asset.

At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss,

transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or

loss are expensed in profit or loss.

Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and

interest.

Subsequent measurement of debt instruments depends on the Company’s business model for managing the asset and the cash flow characteristics of the asset.

There are three measurement categories into which the company classifies its debt instruments:

• Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are

measured at amortised cost. A gain or loss on a debt investment that is subsequently measured at amortised cost and is not part of a hedging relationship is

recognised in profit or loss when the asset is derecognised or impaired. Interest income from these financial assets is included in finance income using the

effective interest rate method.

• Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual cash flows and for selling the financial

assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at fair value through other comprehensive income

(FVOCI). Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreign

exchange gains and losses which are recognised in profit and loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised

in OCI is reclassified from equity to profit or loss and recognised in other gains/ (losses). Interest income from these financial assets is included in other

income using the effective interest rate method.

• Fair value through profit or loss (FVTPL): Assets that do not meet the criteria for amortised cost or FVOCI are measured at fair value through profit or

loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is

recognised in profit or loss and presented net in the statement of profit and loss within other gains/(losses) in the period in which it arises. Interest income

from these financial assets is included in other income.


Significant accounting policies and other explanatory information to the financial statements for the year ended 31 March 2019


3 Income tax assets (net)

As at

31 March 2019

As at

31 March 2018

As at

1 April 2017

4.67 11.79 5.04

4.67 11.79 5.04

4 Other non-current assets

As at

31 March 2019

As at

31 March 2018

As at

1 April 2017

- - 1.12

- - 1.12

5 Current investment

Quantity

(Nos.)

Amount Quantity

(Nos.)

Amount Quantity

(Nos.)

Amount

Investment in mutual funds measured at FVTPL (unquoted)

DHFL Pramerica Mutual Fund - DHFL Pramerica Insta Cash Plus Fund-

Direct Plan-Growth 19,600 48.52 3,881 8.77 856 1.81

Total 48.52 8.77 1.81

48.52 8.77 1.81

6 Cash and cash equivalents

As at

31 March 2019

As at

31 March 2018

As at

1 April 2017

0.38 1.96 2.10

0.38 1.96 2.10

7 Trade Receivables

As at

31 March 2019

As at

31 March 2018

As at

1 April 2017

- - 4.37

- - 4.37

8 Other current assets

As at

31 March 2019

As at

31 March 2018

As at

1 April 2017

0.09 3.50 2.30

1.09 1.83 4.09

1.18 5.33 6.39

Particulars

Prepaid Expenses

Advance Tax and Tax Deducted at Source [(Net of Provision for Income Tax 31 March 2019 Rs 14.28; 31 March 2018 - Rs. 4.55; 1

April 2017: Rs. 3.34)]

Particulars

Total

As at

1 April 2017Particulars

Particulars

Total

- in current accounts

As at

31 March 2019

As at

31 March 2018

Aggregate amount of unquoted investments and market value thereof

Particulars

Balances with banks:

Other receivable :

Total

Total

-from others (Refer Note 21)

Total

Particulars

Prepaid Expenses

Balance with government authorities





9 Equity share capital

Particulars

No. of Shares Amount No. of Shares Amount No. of Shares Amount

Authorised capital

Equity shares of Rs. 10 each 1,00,000 10.00 1,00,000 10.00 1,00,000 10.00

1,00,000 10.00 1,00,000 10.00 1,00,000 10.00

Issued, subscribed and fully paid up

Equity shares

Equity shares of Rs. 10 each 1,00,000 10.00 1,00,000 10.00 1,00,000 10.00

Total issued, subscribed and fully paid up shares 1,00,000 10.00 1,00,000 10.00 1,00,000 10.00

a) Reconciliation of Shares Outstanding at the beginning and at the end of the reporting period

No. of Shares Amount No. of Shares Amount

1,00,000 10.00 1,00,000 10.00

1,00,000 10.00 1,00,000 10.00

1,00,000 10.00 1,00,000 10.00

b) Terms/ rights attached to Equity Shares

c) Details of shareholders holding more than 5% shares in the company

Name of shareholder

No of shares % of shares No of shares % of shares No of shares % of shares

Equity shares of Rs 10 each

PGLH of Delaware, Inc. 49,999 49.99% 49,999 49.99% 49,999 49.99%

Dewan Housing Finance Corporation Limited 50,000 50.00% 50,000 50.00% 50,000 50.00%

d)

10 Other equity

Particulars As at

31 March 2019

As at

31 March 2018

As at

1 April 2017

Retained earnings 39.17 2.25 (2.98)

Initial contribution from Sponsors 2.00 2.00 2.00

Total 41.17 4.25 (0.98)

Retained earnings

Particulars As at

31 March 2019

As at

31 March 2018

Opening Balance 2.25 (2.98)

Transaction during the year :

Net profit for the year 36.92 5.23

Closing balance 39.17 2.25

Initial contribution from Sponsors

Particulars As at

31 March 2019

As at

31 March 2018

Opening Balance 2.00 2.00

Transaction during the year - -

Closing balance 2.00 2.00

Nature of Reserves

Retained earnings

Retained earnings pertain to the accumulated earnings / losses made by the company over the years.


As at 31 March 2019 As at 31 March 2018Particulars

Equity shares

Equity Shares of Rs. 10 each

At the beginning of the year

Add: Issued during the year

At the end of the year

As at 1 April 2017 As at 31 March 2019 As at 31 March 2018

In the period of five years immediately preceding 31 March 2018, the Company has not allotted any shares as fully paid-up pursuant to contracts without payment being received in cash.

Further, the Company has neither issued bonus shares nor bought back any shares during the aforementioned period.

Total issued, subscribed and fully paid up shares

Equity Shares: The company has one class of equity share having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity

shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. The dividend if any proposed by the

Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.




11 Non-current liabilities

ParticularsAs at

31 March 2019

As at

31 March 2018

As at

1 April 2017

Deferred tax liability (net) 0.34 0.05 0.00

Total 0.34 0.05 0.00

12 Trade payables

ParticularsAs at

31 March 2019

As at

31 March 2018

As at

1 April 2017

Dues to micro, small and medium enterprises - - -

Dues to others 1.81 10.70 10.72

Total 1.81 10.70 10.72

13 Other current liabilities

ParticularsAs at

31 March 2019

As at

31 March 2018

As at

1 April 2017

Statutory dues including tax deducted at source 1.43 2.85 1.09

Total 1.43 2.85 1.09




14 Revenue from operations

Particulars Year ended

31 March 2019

Year ended

31 March 2018

Trusteeship fees (Net of Goods & Service Tax/Service Tax) 80.00 80.00

Total 80.00 80.00

15 Other income


31 March 2019

Year ended

31 March 2018

Interest income:

- Interest on income tax refund 0.38 -

Other Gain or losses:

1.59 0.81

Total 1.97 0.81

16 Other expenses


31 March 2019

Year ended

31 March 2018

Rates and taxes 0.31 0.15

Legal and professional fees 8.39 21.32

Travelling and conveyance 2.37 2.64

Insurance Expenses 7.59 9.04

Membership and Subscription - 28.92

Directors' sitting fees 12.00 11.20

Bank Charges 0.00 0.01

Payment to auditor

- Audit fees 1.00 1.00

- Out of pocket expenses 0.03 0.04

Total 31.69 74.32

Net gain on mutual fund Investment measured at fair value through profit and loss




Year ended

31 March 2019

Year ended

31 March 2018

17

13.07 1.21

13.07 1.21

0.29 0.05

0.29 0.05

13.36 1.26

17.1

50.28 6.49

13.07 1.21

13.07 1.21

17.2 31-Mar-19 31-Mar-18 01-Apr-17

0.29 0.05 0.00

- - -

0.29 0.05 0.00

0.29 0.05 0.00

17.3 Deferred tax related to the following:

Particulars As at

31 March 2019

Recognised

through profit

and loss

As at

31 March 2018

Recognised

through profit

and loss

As at

1 April 2017

Deferred tax liabilities on account of:

Financial assets measured at FVTPL 0.29 0.24 0.05 0.05 0.00

Total deferred tax liabilities 0.29 0.24 0.05 0.05 0.00

Total deferred tax Assets/liability (net) 0.29 0.24 0.05 0.05 0.00

Particulars

Tax expense

Current tax expense

Current tax for the year

Total current tax expense (A)

Deferred taxes

Change in deferred tax liabilities

Net deferred tax expense (B)

Total C = A + B

Tax reconciliation (for profit and loss)

Financial assets measured at Fair Value through Profit or Loss (FVTPL)

Timing difference between book depreciation/amortisation and depreciation as per Income Tax Act, 1961

Total deferred tax liabilities

Net deferred tax Liablity

Profit/(loss) before income tax expense

Tax at the rate of 26% (for 31 March 2018 - 18.5%)

Income tax expense

Particulars

Deferred tax liability on account of :




18 Fair value measurements

Financial instruments by category:

FVTPL Amortised cost FVTPL Amortised cost FVTPL Amortised cost

Financial Assets - Current

Investments 48.52 - 8.77 - 1.81 -

Cash and cash equivalents - 0.38 - 1.96 - 2.10

Trade receivable - - - - - 4.37

Other non-current financial assets

Total Financial Assets 48.52 0.38 8.77 1.96 1.81 6.47

Financial Liabilities - current

Trade payables - 1.81 - 10.70 - 10.72

Total Financial Liabilities - 1.81 - 10.70 - 10.72

I. Fair value hierarchy

II. Valuation techniques used to determine fair value

The carrying amounts of Cash and cash equivalent, trade payables, and trade receivables are considered to be approximately equal to the fair value.

III. Valuation Process

Note:

During the periods mentioned above, there have been no transfers amongst the levels of hierarchy.

Particulars31 March 2019 31 March 2018 1 April 2017

The fair values of the financial assets and liabilities are included at the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction

between market participants at the measurement date.

This section explains the judgements and estimates made in determining the fair values of the financial instruments that are (a) recognised and measured at fair value and (b)

measured at amortised cost and for which fair values are disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining

fair value, the company has classified its financial instruments into the three levels prescribed under the Indian Accounting standard. An explanation of each level follows

underneath the table.

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices. For example, listed equity instruments that have quoted market price.

Mutual fund investment have been categorised into level 2 (recurring fair value measurement) of fair value hierarchy.

Significant valuation techniques used to value financial instruments include:

The fair values for investment in mutual fund are based on the quoted market prices.

The finance department performs the calculations of financial assets and liabilities required for financial reporting purposes. This team reports directly to the Finance head.

Discussions of valuation processes and results are held between the finance head and the finance team at least once in a month.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities,

contingent consideration and indemnification asset included in level 3.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, traded bonds, over-the- counter derivatives) is determined using

valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value

an instrument are observable, the instrument is included in level 2.



19 Financial risk management

A Credit risk

ParticularsAs at

31 March 2019

As at

31 March 2018

As at

1 April 2017

Upto 3 months 4.37

3 - 6 months - - -

6 - 12 months - - -

More than one year - - -

Total - - 4.37

Provision for expected credit loss - - -

B Liquidity risk

Liquidity risk management

(i) Maturities of non – derivative financial liabilities

As at 31 March 2019

Particulars Upto 1 year Between 1 and 5

years

Beyond 5 years Total

Financial Liabilities - Current

Trade payables 1.81 - - 1.81

Total 1.81 - - 1.81

As at 31 March 2018


years




Total 10.70 - - 10.70


The Company's principal financial liabilities comprises of trade payables. The main purpose of these financial liabilities is to finance the Company’s

operations. The Company’s principal financial assets include Investments and cash and bank balances that derive directly from its operations.

The company is exposed to credit risk from its operating activities (primarily for trade receivables).

Bank balances are held with only high rated banks.

To manage credit risk, the Company follows a policy of providing 0-30 days credit to the customers basis the nature of customers. For some of the

customer company follows the policy of receiving advance payment towards services. The credit limit policy is established considering the current

economic trends of the industry in which the company is operating.

However, the trade receivables are monitored on a periodic basis for assessing any significant risk of non-recoverability of dues and provision is created

accordingly.

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. For the Company,

liquidity risk arises from obligations on account of financial liabilities viz. borrowings, trade payables and other financial liabilities.

The Company’s management is responsible for liquidity and funding as well as settlement management. In addition, processes and policies related to

such risks are overseen by senior management. Management monitors the Company’s net liquidity position through rolling forecasts on the basis of

expected cash flows.




As at 1 April 2017


years




Total 10.72 - - 10.72 -

C Market Risk

(i) Foreign currency risk

(ii) Cash flow and fair value interest rate risk

(iii) Price risk

Sensitivity to price risk

31-Mar-19 31-Mar-18 01-Apr-17

2.43 0.44 0.09

(2.43) (0.44) (0.09)

20 Capital Management

A Risk management

The company’s objectives when managing capital are to

• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and benefits for other stakeholders,

and

• maintain an optimal capital structure to reduce the cost of capital.

Impact on profit before tax for 5% increase in NAV/price

Impact on profit before tax for 5% decrease in NAV/Price

To manage its price risk arising from the investment, the Company has invested in the mutual fund after considering the risk and return profile of the

mutual funds i.e. the debt profile indicates that the debt has been given to creditworthy parties. The entity being risk averse has opted to invest only in

debt oriented mutual funds, hence the management believes that, there will be no decrease in the Net Asset Value (NAV).

The company is exposed to price risk from its investment in mutual funds, classified in the balance sheet at fair value through profit and loss.

The Company does not have any borrowing, hence they are not subject to interest rate risk.

Interest rate risk arises from the sensitivity of the financial liabilities to changes in market rate of interest.

The following table summarises the impact of sensitivity of NAVs with all other variables held constant. The below impact on the Company's profit

before tax is based on changes in the NAVs of mutual funds at balance sheet date:

Sensitivity

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk

comprises three types of risk: Foreign currency risk, interest rate risk and price risk.

In the absence of any foreign currency transaction, there is no foreign exchange risk.




21 Related party disclosures as required under Indian Accounting Standard 24, “Related party disclosures” are given below:


(i) PGLH of Delaware,Inc.

(ii) Dewan Housing Finance Corporation Limited

II Mutual Fund supervised by the Company

DHFL Pramerica Mutual Fund, supervised by DHFL Pramerica Asset Managers Private Limited

III Key Management Personnel

Srinath Sridharan, Chairman (Associate Director)*

John Praveen, Director*

Sujal Shah (Non Executive director)

Ashwini Kakkar (Non Executive director)

Vijay Agarwal (Non Executive director)

Rakesh Sood (Non Executive director)

* No transaction during the year

I.

(a) Transactions during the year Nature of Transactions 31 March 2019 31 March 2018 1 April 2017

Dewan Housing Finance Corporation Limited Recovery of expenses - 1.02 -

PGLH of Delaware,Inc. Other Long term liabilities 1.00 1.00 1.00

(Co-Sponsors Money)

Dewan Housing Finance Corporation Limited Other Long term liabilities 1.00 1.00 1.00

(Co-Sponsors Money)

II. Mutual Fund supervised by the Company

DHFL Pramerica Mutual Fund: Purchase / Subscription of units 69.22 39.15 42.20

Sales / Redemption of units 31.06 33.00 40.99

Trusteeship Fees (Income) 80.00 80.00 50.00

DHFL Pramerica Mutual Fund: Trusteeship Fees Receivable - - 4.37

III. Key Management Personnel

Sujal Shah (Non Executive director) Director's Sitting Fees 4.00 3.20 3.60

Ashwini Kakkar (Non Executive director) Director's Sitting Fees 2.40 2.40 2.40

Vijay Agarwal (Non Executive director) Director's Sitting Fees 4.00 3.60 3.60

Rakesh Sood (Non Executive director) Director's Sitting Fees 1.60 2.00 2.40

Key managerial personnel compensation

Particulars 31-Mar-19 31-Mar-18 31-Mar-17

Short term benefits 12.00 11.20 12.00

Total 12.00 11.20 12.00

Venturer in respect of which the Company is a joint venture:


(a) Transactions during the year




21(A) Revenue from contracts with customers:

a)

Particulars Trusteeship fees

Total Revenue from contracts with customers 80.00

Geographical Markets

India 80.00

Outside India -


Timing of revenue recognition

Services transferred at a point in time -

Services transferred over time 80.00


b) Contract balances

c) Contract liabilities

d) Contract costs

No contract cost capitalised

e) Performance obligations


Disaggregation of revenue

Set out below is the disaggregation of revenue from contracts with customers and reconciliation to profit and loss account:

There are no Trade Receivables

There are no Contract Liabilities

The Company's primary activity is to act as a trustee to DHFL Pramerica Mutual fund. The performance obligation of Company is satisfied over the

period of time and payment is due within 0-30 days.




22

23


31-Mar-19 31-Mar-18

1) Segment revenue

- Within India 80.00 80.00

- Outside India - -

2) Carrying amount of segment assets

- Within India 5.85 17.12

- Outside India - -

24 Earning per share

31-Mar-19 31-Mar-18

Profit for the financial year, attributable to shareholders 36.92 5.23

1.00 1.00

Basic and diluted earnings per share (in Rs.) [Refer note below] 36.92 5.23

Nominal value per share (in Rs.) 10.00 10.00

Segment reporting:

Revenue of approximately Rs. 80 Lakhs (31 March 2018 – Rs.80 Lakhs) are derived from a single customer.

The Company's primary activity is to act as a trustee to DHFL Pramerica Mutual fund, and primarily operated in India and regularly reviewed by the Chief

Operating Decision Maker for assessment of Company’s performance and resource allocation. For the purpose of disclosure of segment information, the

Company considers these operations as a single business segment as all the product groups are mainly having similar risks and returns.

The identification of Micro, Small and Medium enterprises is based on the management's knowledge of their status. The Company has identified suppliers as

Registered under Micro, Small and Medium enterprises Development Act 2006 based on the intimation received from the suppliers time to time.

The information relating to revenue from external customers and location of non-current assets of its single reportable segment is disclosed as below:

Particulars

Note:

The Company does not have any outstanding dilutive potential equity shares as at 31 March 2019 and 31 March 2018. Consequently, basic and diluted earnings

per share of the Company remains the same.

Weighted average number of equity shares in calculating basic and diluted EPS (in lakhs)

Particulars



25 First time adoption of Ind AS

A First Ind AS Financial statements

Exemptions and exceptions availed

(i) Mandatory exceptions applied

Estimates

These are the company’s first separate financial statements prepared in accordance with Ind AS applicable as at 31 March 2019.

The accounting policies set out in note 2.1 have been applied in preparing the financial statements for the year ended 31 March 2019, the

comparative information presented in these financial statements for the year ended 31 March 2018 and in the preparation of an opening Ind

AS balance sheet at 1 April 2017 (the date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts

reported previously in financial statements prepared in accordance with the accounting standards notified under Companies (Accounting

Standards) Rules, 2006 (as amended) and other relevant provisions of the Act (previous GAAP or Indian GAAP).

An explanation of how the transition from previous GAAP to Ind AS has affected the company’s financial position, financial performance and

cash flows is as follows:

Set out below are the applicable Ind AS 101 optional exemption and mandatory exemption applied in the transition from Previous GAAP to

Ind AS.

An entity’s estimates in accordance with Ind ASs at the date of transition to Ind AS shall be consistent with estimates made for the same date in

accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those

estimates were in error.

Ind AS estimates as at 1 April 2017 are consistent with the estimates as at the same date made in conformity with previous GAAP except where

Ind AS required a different basis for estimates as compared to the previous GAAP.




B

Reconciliation of equity from previous GAAP to Ind AS

Particluars NoteEquity as at 31

March 2018

Equity as at 1 April

2017

Equity as per previous GAAP 12.11 7.02

GAAP adjustments:

Impact on account of financial asset measured at FVTPL B.1 0.19 0.01

Reclassification of initial contribution from sponsors to other equity B.2 2.00 2.00

Impact of deferred taxes on the above adjustment B.3 (0.05) (0.00)

Total - GAAP adjustments 2.14 2.00

Equity as per Ind AS 14.25 9.02

Reconciliation of total comprehensive income from previous GAAP to Ind AS

Particluars Note 31 March 2018

Net Profit/(loss) for the period as per previous GAAP 5.09

GAAP adjustments:

Impact on account of financial asset measured at FVTPL B.1 0.19

Impact of deferred taxes on the above adjustment B.3 (0.05)

Total - GAAP adjustments 0.14

Net profit / (loss) after tax as per Ind AS 5.23

Total comprehensive income / (loss) after tax as per Ind AS 5.23

All the adjustments on account of Ind AS are non-cash in nature, hence there is no material impact on the Statement of Cash flows

Explanations to reconciliations

B.1

B.2 Impact of reclassification of initial contribution from sponsors to other equity

B.3 Impact on account of deferred taxes




Manish Gujral

Partner Director Director

Membership No: 105117 DIN- DIN-

Place : Mumbai


Previous GAAP - In previous GAAP initial contribution from sponsor was classified as Non current liability.

Ind AS - Initial contribution from sponsor is not refundable and therefore is not in the nature of liability. Therefore, it is classified as other equity under

Ind AS.

Consequent, to the change impact of Rs. 2 Lakhs was made on equity as on the transition date and as at 31st March 2018.

The impact of transition adjustments together with Ind AS mandate of using balance sheet approach (against profit and loss approach in the previous

GAAP) for computation of deferred tax has impacted the reserves on date of transition, with consequential impacts to the statement of profit and loss for

the subsequent periods.

Consequent to the change, the impact on equity at the transition date and as at 31st March 2018 is Rs.153 Lakhs and Rs. 5,067 Lakhs respectively and the

impact in statement of profit and loss for the year ended 2017-18 is Rs. 4,914 Lakhs.

First time adoption reconciliations

Impact of accounting for investment in mutual funds at Fair value through profit and loss

Previous GAAP – Investment in mutual fund are classified as current investments. Current Investments are accounted at lower of cost or fair value.

Ind AS – Investment in mutual funds are financial assets. For the purposes of Ind AS 109, mutual fund investments will be accounted at fair value

through profit and loss at each reporting date.

Consequent, to the change impact of Rs. 589.54 Lakhs and Rs. 19,488.99 Lakhs on equity was made on the transition date and as at 31 March 2018

respectively. Further, impact of Rs. 18,899.45 Lakhs was made in the statement of profit and loss for the year ended 31 March 2018.

dhfl pramerica life insurance company limited cin

Documents