GIC HOUSING FINANCE LTD.
CIN NO. L65922MH1989PLC054583
Regd. Office : 6th Floor, National Insurance Bldg., 14,Jamshedji Tata Road, Churchgate, Mumbai – 400 020.
Unaudited Financial Results for the Quarter/Half year ended September 30, 2017
Statement of Standalone Unaudited Financial Results for the Quarter/Half year ended September 30, 2017
(Rupees in Lacs)
PARTICULARS Quarter ended Half Year ended Year ended
30.09.2017 30.06.2017 30.09.2016 30.09.2017 30.09.2016 31.03.2017
(Reviewed) (Reviewed) (Reviewed) (Reviewed) (Reviewed) (Audited)
Income
Revenue from Operations 27,392 27,507 24,696 54,899 48,132 100,021
Other Operating Income (Including Investment Income) 19 73 21 92 72 153
Total Income 27,411 27,580 24,717 54,991 48,204 100,174
Expenditure
Finance Cost 17,459 16,915 16,773 34,374 33,000 66,784
Employee Benefits Expenses 694 672 676 1366 1345 2595
Depreciation & Amortisation 19 11 18 30 31 70
Other Expenses 2,814 3,797 1,910 6,611 3,532 8,015
Total Expenditure 20,986 21,395 19,377 42,381 37,908 77,464
Profit from Operations before Other Income 6,425 6,185 5,340 12,610 10,296 22,710
& Exceptional Items
Other Income & Exceptional Items                   -                  -                 - - - -
Profit from ordinary activities before Tax 6,425 6,185 5,340 12,610 10,296 22,710
Provision for Tax 2,313 2,567 1,775 4,880 3,410 7,635
Deferred Tax (Asset)/Liability (83) (424) 128 507 (217) (302)
Net Profit after Tax 4,195 4,042 3,437 8,237 6,669 14,773
Paid up Equity Share Capital (Face value Rs. 10/-) 5,385 5,385 5,385 5,385 5,385 5,385
Reserves as at 31st March  78,437
Earning Per Share (EPS)
a) Basic and Diluted Earning Per Share before
Extraordinary items for the period. (Rs.) 7.79 7.51 6.38 15.30 12.38 27.43
b) Basic and Diluted Earning Per Share after
Extraordinary items for the period.(Rs.) 7.79 7.51 6.38 15.30 12.38 27.43
Debt Equity Ratio 10.21 9.86 9.83
Debt Service Coverage Ratio (DSCR) (*) 0.39 0.31 0.26
Interest Service Coverage Ratio (ISCR) (**) 1.49 1.35 1.39
Contd…
NOTES:
1.  STATEMENT OF ASSETS AND LIABILITIES  (REVIEWED)
(` in Lacs)
Particulars Half Year Ended Year ended
30.09.2017 31.03.2017
(Reviewed) (Audited)
A. EQUITY AND LIABILITIES :
1. SHAREHOLDERS’ FUNDS :
 (a) Share Capital                      5,388               5,388
 (b) Reserves and Surplus                    83,430             78,434
Sub-total – Shareholders’ Funds                    88,818             83,822
2. MINORITY INTEREST :                             -
2. NON CURRENT LIABILITIES :
 (a) Long-term Borrowings                 685,270           648,161
 (b) Other Long-term Liabilities                             -                      -
 (b) Long-term Provisions                    29,100             25,157
 (c) Deferred Tax Liabilities (Net)                      2,783               3,290
Sub-total – Non Current Liabilities                 717,153           676,608
3. CURRENT LIABILITIES :
 (a) Short-term Borrowings                    94,498             89,738
 (b) Trade Payables                         745                  577
 (c) Other Current Liabilities                 129,838             88,761
 (d) Short-term Provisions                      1,272                  943
Sub-total – Current Liabilities                 226,353           180,019
TOTAL – EQUITY AND LIABILITIES              1,032,324           940,449
B. ASSETS :
1. NON CURRENT ASSETS :
 (a) Property,Plant & Equipment                         228                  230
 (b) Non-current Investments                      2,647               2,647
 (c) Deferred Tax Assets (Net)                             -                      -
 (d) Long-term Loans and Advances                      1,554               2,034
 (e) Other Non-current Assets                             -                      -
Sub-total – Non Current Assets                      4,429               4,911
2. LOANS :
 (a) Non-current                 972,431           888,533
 (b) Current                    44,153             39,156
Sub-total – Loans              1,016,584           927,689
3. CURRENT ASSETS :
 (a) Current Investments                             -                      -
 (a) Trade Receivables                      1,244               1,327
 (b) Cash and Bank Balances                      9,598               6,211
 (c) Short-term Loans and Advances                         469                  311
 (d) Other Current Assets                             -                      -
Sub-total – Current Assets                    11,311               7,849
TOTAL – ASSETS              1,032,324           940,449
Contd…
Notes:
2.The Company’s main business is to provide loans for the purchase or construction of residential units. All other activities revolve around the main business. Hence, there are no separate reportable segments as per Accounting Standard on Segment Reporting (AS 17) as specified under Sec.133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014.
3.’Other Expenses’ for the Quarter ended September 30,2017 includes provision for standard assets and non performing assets amounting to ` 1,493 Lacs and (previous period quarter provision made ` 600 Lacs). Provision for the standard assets and non performing assets for the half year ended September 30,2017 amounts to ` 4,050 Lacs and (previous half year provision made `1,200 Lacs).
4. The Company has maintained 100% Asset Cover on its Secured Listed Non-Convertible Debentures as on September 30, 2017.
5. ICRA has assigned [ICRA] AA+ (Stable) for Non Convertible Debentures, [ICRA] A1+ for Commercial paper, [ICRA] AA+ (Stable) and [ICRA] A1+ for long term borrowings and short term borrowings respectively.CRISIL has assigned CRISIL AA+ (Stable) for Non Convertible Debentures, CRISIL A1+ for Commercial paper, CRISIL AA+ (stable) for long term borrowings .
6. Figures for the previous period have been regrouped / reclassified wherever necessary.
7. The Statutory Auditors of the Company have carried out a “Limited Review” of the standalone financial results for the half year ended September 30, 2017 in compliance with Regulations 33 & Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015. The standalone financial results have been reviewed & recommended by the Audit Committee and approved by the Board of Directors at its meeting held on October 26, 2017.
                                                                                                                                                                      For and on behalf of the Board
                                                                                                                                        S.Gopakumar
                                                                                                                                                                              Managing Director & CEO
                                                                                                                                                                              DIN NO.:07542356
Place : Mumbai
Date  : October 26, 2017.

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