p POONAWALLA

FINCORP

October 25, 2024

BSE Limited National Stock Exchange of India Limited

Corporate Relationship Department The Listing Department,
25th Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza,
Dalal Street, Fort, Bandra- Kurla Complex, Bandra (East),
Mumbai - 400 001. Mumbai - 400 051.
BSE Scrip Code: 524000 NSE Symbol: POONAWALLA
Subject: Outcome of Board Meeting held on October 25, 2024.

Reference: Regulations 30, 33, 51 and 52 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (‘SEBI Listing Regulations’).
Dear Sir / Madam,

Pursuant to Regulations 30, 33, 51 and 52 read with Schedule III and other applicable
provisions of the SEBI Listing Regulations, we hereby inform you that the Board of Directors
of the Company at their meeting held today i.e., October 25, 2024, basis recommendation of
the Audit Committee has, inter alia, approved unaudited standalone and consolidated financial
results of the Company for the quarter and half year ended September 30, 2024:

Accordingly, we are enclosing herewith the following:

1. The unaudited standalone and consolidated financial results of the Company for the quarter
and half year ended September 30, 2024. The unaudited financial results will also be
published in the newspaper as per the format prescribed in the SEBI Listing Regulations;

2. Limited Review Report thereon, issued by the Joint Statutory Auditors of the Company,
MSKA & Associates, Chartered Accountants and Kirtane & Pandit LLP, Chartered
Accountants on the unaudited standalone and consolidated financial results of the
Company;

3. Statement of disclosures of line items pursuant to Regulation 52(4) of the SEBI Listing
Regulations;

4. Statement as per Regulation 52(7) & 52(7A) of SEBI Listing Regulations read with SEBI
Master circular SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2024/48 dated May 21, 2024, as
amended from time to time.

Pursuant to the provisions of Regulation 54 of SEBI Listing Regulations read with

SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated May 16, 2024 , please note that the disclosure
of the extent and nature of security created and maintained for secured non - convertible
securities of the Company and the security cover certificate is made in the unaudited financial
results for the quarter and half year ended September 30, 2024.

Poonawalla Fincorp Limited

CIN: LS1504PN1978PLC209007
Registered Office: 201 and 202, 2nd floor, AP81, Koregaon Park Annex, Mundhwa, Pune - 411036
T: +91 20 67808090 I E: [email protected] I W: www.poonawallafincorp.com

Classification | INTERNAL
 p POONAWALLA
FINCORP

Further, pursuant to Regulation 30 of the SEBI Listing Regulations, please note that the
Investor’s Presentation is being sent separately and subsequently the same will be uploaded on
the website of the Company.

The meeting of the Board of Directors commenced at 01:00 P.M. and concluded at 02:40 P.M.

Kindly take the above intimation on record.

Thanking You,

Yours faithfully,
For Poonawalla Fincorp Limited
Digitally signed by
SHABNU SHABNUM ZAMAN
M ZAMAN Date: 2024.10.25
14:41:05 +05'30'

Shabnum Zaman
Company Secretary
ACS-13918

Poonawalla Fincorp Limited

CIN: LS1504PN1978PLC209007
Registered Office: 201 and 202, 2nd floor, AP81, Koregaon Park Annex, Mundhwa, Pune - 411036
T: +91 20 67808090 I E: [email protected] I W: www.poonawallafincorp.com

Classification | INTERNAL
 Kirtane & Pandit LLP MS KA & Associates
Chartered Accountants Chartered Accountants
601, 6th Floor, Earth Vintage Floor 4, Duckback House
Senapati Bapat Marg, Dadar West 41, Shakespeare Sarani
Mumbai - 400 028 Kolkata 700 017

Independent Auditor's Review Report on consolidated unaudited financial results of Poonawalla Fincorp
Limited for the quarter and year to date pursuant to the Regulation 33 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors of Poonawalla Fincorp Limited

1. We have reviewed the accompanying statement of consolidated unaudited financial results of Poonawalla
Fincorp Limited (hereinafter referred to as 'the Holding Company'), and its joint venture, (refer
paragraph 4 below) for the quarter ended September 30, 2024, and the year to-date results for the period
from April 01, 2024 to September 30, 2024 ( 'the Statement'), attached herewith, being submitted by the
Holding Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ( 'the Regulations').

2. This Statement, which is the responsibility of the Holding Company's Management and has been approved
by the Holding Company's Board of Directors, has been prepared in accordance with th_e recognition and
measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting',
prescribed under Section 133 of the Companies Act, 2013 ('the Act'), read with relevant rules issued
thereunder ( 'Ind AS 34') and other recognised accounting principles generally accepted in India and is in
compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on
our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE)
2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued
by the Institute of Chartered Accountants of India. A review of interim financial information consists of
making inquiries, primarily of persons responsible for financial and accounting matters, and applying
analytical and other review procedures. A review is substantially less in scope than an audit conducted in
accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does
not enable us to obtain assurance that we would become aware of all significant matters that might be
identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the Securities and Exchange
Board of India under Regulation 33 (8) of the Regulations, to the extent applicable.

4. This Statement includes the results of the Holding Company and the following entity:

Sr. No Name of the Entity Relationship with the Holding

Company

1 Jaguar Advisory Services Private Limited Joint Venture (*)

(*) Interest in Joint Venture has been classified as assets held for sale as per Ind AS 105 and accordingly,
the equity method accounting has been discontinued with effect from December 13, 2021.
 Kirtane & Pandit LLP MS KA & Associates
Chartered Accountants Chartered Accountants

5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has
come to our attention that causes us to believe that the accompanying Statement, prepared in accordance
with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting
principles generally accepted in India, has not disclosed the information required to be disclosed in terms
of the Regulations, including the manner in which it is to be disclosed, or that it contains any material
misstatement.
6. The Statement includes the Holding Company' s share of net profit after tax of ~ Nil and ~ Nil, and total
comprehensive of ~ Nil and ~ Nil for the quarter ended on September 30, 2024 and for the period from
April 01, 2024 to September 30, 2024, respectively, as considered in the Statement, in respect of one
joint venture, based on its interim financial information which has not been reviewed by their auditors,
and has been furnished to us by the Holding Company's management. Our conclusion on the Statement,
in so far as it relates to the amounts and disclosures included in respect of this joint venture, is based
solely on such unreviewed financial information. According to the information and explanations given to
us by the Management, this interim financial information is not material to the Holding Company.

Our conclusion is not modified in respect of the above matter with respect to our reliance on the financial
information certified by the management.
7. The unaudited financial results of the Holding Company for the corresponding previous quarter and half-
year ended September 30, 2023, and quarter ended June 30, 2024, included in the Statement, was
reviewed by Walker Chandiok & Co LLP, one of the previous joint auditors of the Company, whose report
dated October 20, 2023 and July 20, 2024, respectively, expressed an unmodified conclusion on those
unaudited financial results.
The audited financial results of the Holding Company for the year ended March 31, 2024, included in the
Statement, was audited by Walker Chandiok & Co LLP, one of the previous joint auditors of the Company,
whose report dated April 29, 2024, expressed an unmodified opinion on those audited financial results.

Our conclusion is not modified in respect of the above matters.

For Kirtane & Pandit LLP For M S K A & Associates

Chartered Accountants
Firm Registration No: 105
Chartered Accountants
r
Fi m Registration No. 1 047W

Sandeep D Welling Vik a

Partner Partn
Membership No. : 044576 Member

UDIN: 24044576BKAUKD9725 UDIN: 24060568BKDZKV1475

Place: Mumbai Place: Mumbai

Date: October 25, 2024 Date: October 25, 2024
 ]? I POONAVVALLA
FINCORP

POONAWALLA FINCORP LIMITED

S1atemen1 of Consolid,ited Unaudited Financial Results for the Quarter and Half Year Ended 30 September 2024
('t m crorcs)
Quarter Ended Half Yur Ended Year Ended
JO 30 30 30 30 31
Particulars Se1Hember June September September September l\'hrch
2024 2024 2023 2024 2023 2024
(Unaudited) (Un :rndited) (Un audited) (Un audited) (Unaudited) (Audited)
I Income
Revenue from operations
(a) Interest income 9 10.74 896.20 690 61 1.806,9-4 l .34 1.58 2.899.56
(b) Rental income 4.73 5.08 6 68 9 81 13.90 25.54
{c) Fees and commission income 45.60 25 32 1997 70.92 34 02 73.22
(d) Nel gain on fair value changes 0.02 2 15
(e) Nel gain Qn derecognition offinanci:11 instrumen1s 27 80 50.99 21 39 78 79 41 88 108 54
Total reven ue from onerations 988.87 977.59 738.65 1,966.46 1,431.40 3,109.01
(:i) Other income 7 63 18.27 6.62 25.90 20.4-1 38,32
T otal income 996.50 995.86 745.27 1,992.36 1,451.84 3,147.33
2 Expenses
(a) Finance costs 35 159 320.10 2 15..51 671.69 445 53 950 30
(b) Net loss on fair ,a.lue chilnges 4.75 I 97 0.73 6 72
(c) lmpainnent on financial ins1rumen1s 909.63 42.49 28.06 952 12 54.62 72 02
(d} Emplo~ ee benefits e:-.:penses 212.10 l02.23 109.3 1 3 14 33 214.35 444 42
(e) Depreciation and amonisalion expenses 15Jrn 1451 14.74 30 J I 30.23 59.J I
(0 Other expenses 133.0& 124.9 1 68.85 257.99 131.69 303.63
Total expenses 1,626.95 606.2 1 437.20 2,233.16 876.42 1,829.68
3. Profit/(loss) before exceptional ilems and t ax (1 -2) (630.45) 389.65 308.07 (240.80) 575.42 1,317.65
4. Exceptional items (net) 8 16.52 816.52 816.52
5. Profil/(loss) before tax from continuin~ operations (3+4) (630.451 389.65 1,124.59 (240.80) 1,391.94 l , 134. 17
6. Tu expense
(a) Current tax - Current period/year (35.85) 60.74 403.88 24.89 444 .61 610. 13
- Earlier period/year 0.26 0.26 (9 73)
(b) Deferred tax ( 12382) 37.27 (133.90) (86.55) ( 1117,34) ( 117 74)
Total t ax expense (159.4 1) 98.0 1 269.98 (6 1.40) 337.27 482.66
7, Profit/Closs) after tax for the ucriod/H•ar from continu i112. onerat ions (5-6) (471.041 29 1.64 854,6 1 (179.401 1,054.67 1.651.51
Profit before l:l..'- from discon1inued oper.'.l.tions 7.49 42.07 42.07
T:l..'- expense of discon1inued operntions 1.87 10.52 10.52
8. Prorit/(loss) arter tu for the oer-iod/vear- from discontinued ooerations 5.62 31.55 31.55
9 Prorit/(loss) fo r the neriod/\'ear from continuin 11: and discontinued onerations (7+8) (471.041 291.64 860.23 (179.40) 1,086.22 1,683.06
10. Other comprehens ive income
(a) (i) l1ems that ,, 111 no1 be reclassified to profit and loss
Remeasuremcnts of the defined benefit plans (0.03) (0.88) 0.48 (0.91) 1.4 1 0.82
(ii) Income l:l..'- relating to items that will not be reclassified to profit and loss 0.01 0.22 (0. 13) 0.23 (0.36) (0.21 )
(b) (i) Items that \\ill be reclassified to profit and loss
Financial instniments through other comprehensi,e income 0.31 0, 16 (0.1 1) 0.47 0 23 0.29
(ii) Income ta.x relating to items 1ha1 ,, ill be reclassified to profit and loss (0.08) (0,04) 0.03 (0 12) tO 06) (0.07)
fc) Other comorehensi ve income from discontinued onerations (net of la.'-) (0 19) (0.19)
Total other romnrehensi,·e income/tloss l tNet or taxi 0.21 10.54 0.27 ' 0.3 3 I.OJ 0.64
II Total comnrehcnsive incomeJfloss\ for the neriod/ •ear 19+10\ ' 470,831 291. 10 860.50 '179.73 I 087.25 I 683,70
12. Total comprehensive income/(loss) for lhe period/year a1tribu1able to
(a) Owners oflhe Company (470 83) 291.1 0 860.44 (179 73) 1,086.94 1.683.39
(b) Non<on1rollinl! interests 006 (l.31 0.31
13 Profit/(loss) from continuing operations for lhe period/year, auributable to
(a) Owners of the Company (471.04) 291.64 854.6 1 (1 79.40) 1.054.67 1.651.51
(b) Non-controllin~ interests
14 Profit/(loss) from discontinued operations for the period/year, attributable t o
(a) Owners of the Company 5.56 3 1 24 3124
I (b) Non<ontrollin • interests 0.06 0.31 0.31
Profit/(loss) from continuing and discontinued OIH!rations for the period/year,
15
altribuuble to
(a) Owners of the Company (47104) 291.64 860. 17 (179.40) 1.085.9 1 1.682.75
(b) Non<ontrollin~ interests 0.06 0 JI 0.31
16 Other comprehensive income attributable t o
(.'.I) Owners of the Company 0.2 1 (054) 0.27 (0.33) I 03 0.64
I (b) Non~ontrollin~ interests (0.00 •0.00) ,o.ooi
17. Paid-up eauity share c-aoital (Face ,•alut" off 2/- eac-h) 15-U 3 153 .98 153.69 154.53 153.69 154.11
Earnings per equily share (for c-ontinuing ope ralions)
18.
(Not annualised for interim periods)
(a) Basic (int) (6 10) 3.79 11 13 (2.33) 13.73 21.48
(b) Diluied (int) (6. 10) 3.77 I 1.00 (2.33) 13.58 21.23
Earnings per equity share (for disc ontin ued operations)
19.
(Not annualised for interim periods)
(a) Basic (int) 0.07 0.41 0.41
(b) Diluted (in ~) 0.07 11.41 0.40
Earnings per eq uity share (for continui ng an d discontinued operations)
20
(Not an nualised for interim periods)
(a) Basic ( int) (6. 10) 3 79 11.20 (2.33) 14.14 21.89
(b) Diluted (int) (6. 10) 3.77 11.(17 (2.33) 13.99 2 1.63
See accompan~ ing notes to the financial results
 POONAWALLA FINCORP LIMITED

STATEMENT OF CONSOLIDATED ASSETS AND LIABILITIES

(~ in crores)
As at As at
30 31
Particulars September March
2024 2024
(Unaudited) (Audited)
A. ASSETS
I. Financial Assets
Cash and cash equivalents 120.81 255.18
Bank balances other than cash and cash equivalents 17.12 13.36
Receivables
(i) Trade receivables 13.99 22.39
(ii) Other receivables 0.8 1 6.27
Loans 24 ,646.36 22,046.41
Investments 1,239.21 878.33
Other financ ial assets 212.63 257.81
26,250.93 23,479.75
2. Non-Financial Assets
Current tax assets (net) 103.53 171.70
Deferred tax assets (net) 250.09 163.42
Investment property 0.07 007
Property, plant and equipment 45.78 59.78
Intangible assets under development 2. 15 0.26
Other intangible assets 15.19 17.00
Right of use assets 161.13 117.35
Other non-financial assets 122.68 26.87
700.62 556.45
3. Assets held for sale 50.70 50.70

Total Assets 27,002.25 24,086.90

B. LIABILITIES AND EQUITY

LIABILITIES
I. Financial Liabilities
Payables
Trade Payables
(i) total outstanding dues of micro enterprises and small enterprises 0.20 0.02
(ii) total outstanding dues of creditors other than micro enterprises and small enterprises 2.64 1.22
Other Payables
(i) total outstanding dues o f micro enterprises and small e nterprises - -
(ii) total outstanding dues of creditors other than micro enterprises and small enterprises 0.45 2. 13
Debt securities 1,298. 12 1,227.09
Borrowings (Other than debt securities) 16,572.0 I 13,6 16.13
Subordinated liabilities 237.26 236.91
Lease liabilities 186.22 135.59
Other financial liabilities 595.26 597.26
18,892.16 15,816.35
2. Non-Financial Liabilities
Current tax liabilities (net) 0. 16 0.0 1
Provisions 9.55 8.53
Other non-financial liabilities 34.56 94.93
44.27 !03.47

3. EQU ITY
Equity share capital 154.53 154. 11
Other equity 7,911.29 8,0 12.97
8,065.82 8,167.08

Tola! Liabilities and Eq uity 27,002.25 24,086.90

-
 POONA WALLA Fl CORP LIMITED

STATEMENT OF CONSOLIDATED CASH FLOWS

(tin crores)
Half year ended Half year ended
Particulars 30 Seotem her 2024 30 Seotem ber 2023
(Unaudited) (Unaudited)
A. Cash now from operating activities
Protit/(Loss) for the period before tax from continuing operations (240.80) 1,391.94
Profit/(Loss) for the period before tax from discontinued operations . 42.07
Profit/(Loss) for the period before tax from continuing and discontinued operations (240.80) 1,434.01
Adjustments for:
Depreciation and amonisation expenses 30.3 1 35.27
Impairment on financial instruments including exceptional items 952. 12 1,539.42
Net gain on sale of investment in Subsidiary/Joint Venture (classified as asset held for sale) . (2,308.97)
Net loss on sale of investments 0.36
Net loss on fair val ue changes 6.72 O.G3
Net (gain) on derecognition of lease (0.27) (0.16)
Net (gain)/loss on derecognition ofpropeny, plant and equipment (5.87) 10.75
Expense on employee stock option scheme 65.67 41.76
Inte rest on lease liabilities 8.09 5.30
Net (gain) on derecognition of linancial instruments (78.79) (56. 12)
Liabilities written back 0.04 ( 12 01 l
Operating cash now before working capital changes 737.22 689.64
Movement in working capital:
Adjustments for (increase)/ decrease in assets:
Receivables 13.86 ( 11.93)
Loans (3,551.94) (4,630 87)
Other financial assets 123.84 98.85
Bank balances other than cash and cash equivalents (3.76) ( 185.90)
Other non financial assets (95.8 1) (2.66)
Adjustments for increase/ (decrease) in liabilities:
Payables (005) 8.69
Other financial liabilities ( 1.97) 99.40
Provisions 0.1 1 0.80
Other non financial liabilities (60.37) (66. 77)
Net cash (used in) operating acli\•ities before taxes (2,838.87) (4,000.75)
Income taxes paid (net of refunds) 43. 16 (340 54)
Net cash (used in) operating r1ctivities (A) (2,795.7 1) (4,34 1.29)
B. Cash now from investing activities
Purchase of propeny, plant and equipment [2.59) (8.20)
Proceeds from sale ofpropeny, plant and equipment 11.71 20.77
Purchase of in1angible assets ( 1.90) (7.78)
Net proceeds from sale of investment in subsidiary 3,533.36
Investment by PFL Employee Welfare Trust (treasury shares) (53.02)
Net cash outflow from PFL Employee Welfare Trust activities (7.72)
Purchase ofinvestrnents (87,880.39) (30,072.22)
Proceeds from sale of Investments 87,5 13.23 29,906.84
Net cash generated froml(used in) investing activities (8) (420.68) 3,372.77

C. Cash now from financing activities

Proceeds from issue of debt securities and subordinated liabilities 500.00 800.00
Redemption of debt securities and subordinated liabilities (428.97) (47000)
Proceeds from borrowings - Tenn loans 5,625.00 2,516. 15
Repayment of borrowings • Tem1 loans (4,6 12.98) (3,568 04)
Repayment of borrowings. pass through cenificate (87.16)
Loans repayable on demand ( including commercial papers) (net) 1,944.14 1,595.48
Interest on lease liabilities (8.09) (5.30)
Principal payment of lease liabilities ( 10.62) ( 14.9 1)
Proceeds from issue of equity shares including securities premium 73.54 9.42
Dividend paid (including tax the reon) ( 153.65)
Net cash gen emted fromjim111ci11g activities (C) 3,082.02 621.99
Net (decrease) in cash and cash equivalents (A+B+C) (134.37) (346.53)
Cash and cash equivalents at the beginning of the year 255. 18 756. 19
Cash and cash equivalents related to discontinued operations . (244.54)
Cash and cash equivalents at the end of the period 120.81 165. 12

Note:
i) The Group has presented a consolidated cash flow statement that analyses all cash flows in total • including both continuing and discontinued operations.
ii) The above Statement of Cash Flow has been prepared unde r the 'Indirect Method' as set out in Ind AS 7 on 'Statement of Cash Flows'.
. ~....
Notes:
I] The consolidated unaudited financial results for the quaner and half year ended 30 September 2024 ("the financial results") of Poonawalla Fincorp Limited ("the Company")
and it's joint venture have been prepared in accordance with Indian Accounting Standard 34 (Ind AS) 'Interim Financial Repo11ing' notified under Section 133 of tlie
Companies Act 20 I 3 ("the Act"). Any guidance/ clarifications/ directions issued by the Reserve Bank of India or other regulators are implemented as and when they are
issued/ applicable.
2] l11e financial results for tlie quarter and half year ended 30 September 2024 have been reviewed by the Audit Committee and approved by the Board of Directors of the
Company in their respective meetings held on 25 October 2024.
3] The financial results for the qua11er and half year ended 30 September 2024 have been subjected to limited review by tl1ejoint statutory auditors of tlie Company, as required
under Regulation 33 and Regulation 52 read witl1 Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 20 15 as amended ("Listing
Regulations"). l11ejoint statuto,y auditors have expressed an unmodified conclusion on these financial results for the quarter and half year ended 30 September 2024.
4] l11ese financial results shall be filed with the BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") and shall be available on the Company's website
www.poonawallafincorp.com and on the website ofBSE (www.bseindia.com) and NSE (www.nseindia.com).
5] The Company is primarily engaged in the business of financing in India and as such there are no separate reportable segments as per Ind AS I 08 - 'Operating Segments'.
6) During tl1e half year ended 30 September 2024, the Company has allotted 31.90,678 equity shares of face value on 2/- each to the eligible employees of the Company under
Employee Stock Option Plan 2007 / Employee Stock Option Plan 202 1 pursuant to tl1e SEBI (Share Based Employee Benefits and Sweat Equity) Regulations. 2021 ("SBEB
& SE Regulations"), as amended from time to tim e.
During the quaner, Nomination and Remuneration Committee (NRC) of the Company has approved modification of vesting schedule for ESOP 2021 plan, in line with ESOP
2024 plan. Under ESOP 202 1 plan, the revised vesting schedule provides for the vesting of the total options granted over a 3 year period from earlier vesting schedule of over
4 year period. Accordingly, the Company has accounted the modification in line with Ind AS 102 - 'Share Based Payments'.
7] During tl1e half year ended 30 September 2024, Employee Welfare Trust has acquired 10,80,000 equity shares oftl1e Company from the secondary market.
8] During the half year ended 30 September 2024, the Company has updated its Expected Credit Loss model inputs with respect to its loan portfolio, which has resulted in an
additional impainnent provision on 666.42 crs.
9] During the half year ended 30 September 2024, the Company has issued commercial papers and non-convenible debentures which were listed on the BSE pursuant to SEBI
Master Circular No SEBVHO/DDHS/PoD 1/P/C IR/2024/54 dated 22 May 2024, in connection thereto, refer the disclosure on regulation 52(4) of Listing Regulations
separately filed with Stock Exchanges.
I OJ l11e Board of Directors and Shareholders of the Company in tl1eir respective meetings had approved sale of its shareholding in joint venture Jaguar Advisory Services Private
Limited (JASPL) held on 2 November 202 1 and 13 December 2021. The Board has reaffinned plan to sell it's shareholding in JASPL in its meeting held on 29 April 2024.
The sale will be subject to requisite regulatory approvals. Accordingly. in line with the requirements of ~,d AS 105 "Non-cuJTent assets Held for Sale', such investment has
been classified as assets held for sale.
11] Figures of previous periods/ year have been reb'fouped / reclassified. wherever necessa,y. to make diem comparable with cuJTent period I year and the impact of such
regrouping / reclassification arc not material 10 financial results.

By the order of the board

For Pi on· w:,lla Fincorp Limited

Arvind Kapil
Place : Mumbai 1\' aging Director & CEO
Date : 25 October 2024 (DIN : t 0429289)

Regislered Ofl"ice . :201 and :202. 2nd Floor, AP8I , Koregaon Park Annexe, Mundhwa. Pune-4II 036, Maharashtra
\ Vebsile • www.poonawallafincorp.com; CI N : LS 1S04PNI 978PLC209007
Phone: +9 1 020 67808090, E-mail: sccretarial@poonav~•-allafincorp.com
 Kirtane & Pandit LLP M S K A & Associates
Chartered Accountants Chartered Accountants
601, 6th Floor, Earth Vintage Floor 4, Duckback House
Senapati Bapat Marg, Dadar West 41, Shakespeare Sarani
Mumbai - 400 028 Kolkata 700 017

Independent Auditor's Review Report on standalone unaudited financial results of Poonawalla Fincorp
Limited for the quarter and year to-date pursuant to the Regulation 33 and Regulation 52 read with
Regulation 63 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as
amended

To The Board of Directors of Poonawalla Fincorp Limited

1. We have reviewed the accompanying Statement of standalone unaudited financial results of Poonawalla
Fincorp Limited (hereinafter referred to as 'the Company') for the quarter ended September 30, 2024
and year to-date results for the period from April 01, 2024 to September 30, 2024 ('the Statement')
attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and
Regulation 52 read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 as amended ('the Regulations').

2. This Statement, which is the responsibility of Company's Management and has been approved by the
Company's Board of Directors, has been prepared in accordance with the recognition and measurement
principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting', prescribed under
Section 133 of the Companies Act, 2013 ( 'the Act'), read with relevant rules issued thereunder (' Ind AS
34'), and other recognised accounting principles generally accepted in India, and is in compliance with
the Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance wit-h the Standard on Review Engagement (SRE)
2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity"
issued by the Institute of Chartered Accountants of India. A review of interim financial information
consists of making inquiries, primarily of persons responsible for financial and accounting matters, and
applying analytical and other review procedures. A review is substantially less in scope than an audit
conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and
consequently does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that
causes us to believe that the accompanying Statement prepared in accordance with the recognition and
measurement principles laid down in Ind AS 34 and other recognised accounting principles generally
accepted in India, has not disclosed the information required to be disclosed in terms of the Regulations
including the manner in which it is to be disclosed, or that it contains any material misstatement.
5. The unaudited financial results of the Company for the corresponding previous quarter and half-year
ended September 30, 2023, and quarter ended June 30, 2024, included in the Statement, was reviewed
by Walker Chandiok ft Co LLP, one of the previous joint auditors of the Company, whose report dated
October 20, 2023 and July 20, 2024, respectively, expressed an unmodified conclusion on those unaudited
financial results.
 Kirtane & Pandit LLP M S K A & Associates
Chartered Accountants Chartered Accountants

The audited financial results of the Company for the year ended March 31, 2024, included in the
Statement, was audited by Walker Chandiok & Co LLP, one of the previous joint auditors of the Company,
whose report dated April 29, 2024 expressed an unmodified opinion on those audited financial results.
Our conclusion is not modified in respect of the above matters.

For Kirtane & Pandit LLP

Chartered Accountants
Firm Registration No: 105215W/W100057

/4(?~l~.J r~ ~~
Sandeep D Welling
Partner
W/
~
*
Membership No.: 0445

UDIN: 24044576BKAUKC8959 UDIN: 24060568BKDZKW5037

Place: Mumbai Place: Mumbai

Date: October 25, 2024 Date: October 25, 2024
 Pl POONAWALLA
FINCORP

POONA WA LLA FINCORP LIM ITED

Statement of Standalone Unaud ited Financial Results for the Q uarter and Half Year Ended 30 September 2024

(tin crores)
Q uarter Ended Half Year Ended Year Ended
30 30 30 30 30 31
Particulars September June September September Se1>tember March
2024 2024 2023 2024 2023 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudi ted) (Unaudited) (Audited)
I. Income
Re\'enuc from operations
(a) Interest income 910.74 896.20 690.07 1,806.94 1.346.07 2.904.05
(b) Rental income 4.73 5.08 6.68 9.81 13.90 25.54
(c) Fees and commission income 45.60 25.32 19.97 70.92 34.02 73.22
(d) Net gain on fair value changes 0.02 2.15
(e) Net Aain on derecowiition of financial instmm ents 27.80 50.99 21.39 78.79 41.88 108.54
Total re,,enue from operations 988,87 977.59 738.11 1,966.46 1,435.89 3, 113.50
(a) Other income 7.63 18.27 6.62 25.90 20.44 38.32
Total income 996.50 995.86 744.73 1,992.36 1,456.33 3, 15 1.82
2. Expenses
(a) Finance costs 35 1.59 320. 10 2 I 5.51 67f.69 450.33 955.1 0
(b) Net loss on fair v.alue changes 4.75 1.97 0.73 6.72
(c) lmpainnent on financial instnnnents 909.63 42.49 28.06 952. 12 54.62 72.D2
(d) Employee benefits expense 212.10 102.23 109.3 1 314.33 21 4.35 444.42
(e) Depreciation and amortisation expenses 15.80 14.51 14.74 30.3 1 30.23 59.3 1
(f) Other cxoenses 133.08 124.91 68.85 257.99 131.69 303.63
Total expenses 1,626.95 606.2 1 437.20 2,233.16 881.22 1,834.48
3. Profi t/(loss) before exceptional items and tax (1-2) (630.45) 389.65 307.53 (240.80) 575.11 1,31 7.34
4. Exceptional items (net) 1,22 1.20 1,22 1.20 1,221.20
5. Profit/(loss) before tax from opera tions (3+4) (630.45) 389.65 1,528.73 (240.80) 1,796.3 1 2,538.54
6. Tax expense
(a) Current tax - Current period/year (35.85) 60.74 403.88 24.89 444.61 610. 13
- Earlier period/year 0.26 0.26 (9 73)
(b) Deferred tax ( 123.82) 37.27 (134 04 ) (86.55) (107.42) ( 117.82)
Total tax expense (159.41) 98.01 269.84 (6 1.40) 337.19 482.58
7. P rolit/(loss) after tax for the period/ year (5-6) (471.04) 291.64 1,258.89 (179.40) 1,459. 12 2,055.96
8. Other comprehensive income
(a) (i) Items that will not be reclassified to profit and loss
Remeasurements of the defined benefit plans (0.03) (088) 0.48 (0.9 1) 1.4 1 0.82
{ii) Income tax relating to items tJ1at will not be reclassified
0.01 0.22 (0.13) 0.23 (0.36) (0.2 1)
to profit and loss
(b) (i) Items that will be reclassified 10 profit and loss
Financial instruments through other comprehensive income 0.31 0.16 (0.11 ) 0.47 0.23 0.29
{ii) Income tax relating to items that will be reclassified to
(0.08) (0.04) 0.03 (0.12) (0.06) (0.07)
profit and loss
Total other comprehensive income/(loss) (Net of tax) 0.2 1 (0.54) 0.27 (0.33) 1.22 0.83
9. Total comprehensive income/(loss) for the period/ year (7+8) (470.83) 291.1 0 1,259.16 ( 179.73) 1,460.34 2,056.79
10. Paid-up equity share capital (Face ,•aluc oH 2/- each) 154.53 153.98 153.69 154.53 153.69 154.11
II. Earnings 1>er share (not annualised for interim 11eriot.ls)
(a) Basic (int) (6. 10) 3.79 16.39 (2.33) 19.00 26.75
lb) Diluted (inf) (6. 10) 3.77 16.2 1 (2.33) 18.79 26.43
See accompanying notes to the financial results
 POONAWA L LA FI NCORP LIMITE D

STATEM ENT OF ST AN DA LON E ASS ETS AN D LIABILITIES

(~ in crores}
As at As at
30 31
Particulars September March
2024 2024
(Unaudited) (Audited)
A. ASSETS
I. Financial Assets
Cash and cash equivalents 120.8 1 255. 18
Bank balances other than cash and cash equivalents 17.1 2 13.36
Receivables
(i) Trade receivables 13.99 22 .39
(ii) Other receivables 0.81 6.27
Loans 24,646.36 22,046.4 1
Investments 1,239.21 878.33
O ther financial assets 2 12.63 257.8 1
26,250.93 23,479.75

2. Non-Financial Assets
Current tax assets (net) 103.53 171.70
Deferred tax assets (net) 250.09 163.42
Investment property 0.07 O.Q7
Property, plant and equipment 45.78 59.78
Intangible assets under development 2. 15 0.26
O ther intangible assets 15. 19 17.00
Right of use assets 161.13 11 7.35
Other non-fi nancial assets 122.68 26.87
700.62 556.45

3. Assets held for sale 0.02 0.02

Total Assets 26 951.57 24 036.22

B. LIABI LITIES AND EQU ITY

LIABILITIES
I. Financial Liabilities
Payables
Trade Payables
(i) total outstanding dues of micro enterprises and small enterprises 0.20 0.02
(ii) total outstanding dues of creditors other than micro emerprises and small enterprises 2.64 1.22
Other Payables
(i) total outstanding d ues of micro enterprises and ~mall enterprises - -
(ii) total outstanding dues of creditors other than micro enterprises and small enterprises 0.45 2.1 3
Debt securities 1,298. 12 1,227.09
Borrowings (Other than debt securities} 16,572.0 I 13,6 16. 13
S ubordinated liabilities 237.26 236.91
Lease liabilities 186.22 135.59
Other fi nancial liabilities 595.26 597.26
18,892.16 15,816.35

2. Non-Financial Liabili ties

Current tax liabilities (net) 0.16 0.01
Provisions 9.55 8.53
Other non-financial liabilities 34.56 94.93
44.27 103.47

3. EQUITY
Equity share capital 154.53 154. 11
Other equity 7,860.61 7,962.29
8,01 5.14 8, 116.40

Total Liabilities and Equity 26,951.57 24,036.22

 POONA W ALLA FIN CORP LIMITED

STATEMENT OF STANDA LONE CASH FLOWS

(~ in crores)
Half year ended Half year ended
30 30
Particulars September September
2024 2023
(Unaudited) (Unaudited)
A. Cash flow from operating activities
Profit/( Loss) for the period (240.80) 1,796.31
Adjustments for :
Depreciation and amortisation expenses 30.3 1 30.23
Lmpainncnt on financial instruments including exceptional items 952.12 1,527.88
Net gain on sale of investment in subsidiary/joint venture lclassified as asset held for sale) (2,7 13.65)
Net (gain)/loss on fair value changes 6.72 (0.02)
Net (gain) on derecognition of lease (0.27) (0. 16)
Net (gain)/loss on dereco&"1ition of property, plant and equipment (5.87) 10.75
Net (gain) on derecognition of financial instruments (78.79) (-11.88)
Expense on employee stock option scheme 65.67 40.30
Interest on lease liabilities 8.09 5.30
Liabilities written back 0.04 ( 1210)
Operating cash flow before workjng capital changes 737.22 642.96
Movement in working capita l:
Adjustments for ( increase)/ decrease in assets:
Bank balances other than cash and cash equivalents (3.76) 35.79
Receivables 13.86 (1 1.64)
Loans (3,551.94) (4,250.91)
Other financial assets 123.84 10340
Other non financial assets (95.81 ) 13.17
Adjustments for increase / (decrease) in liabilities:
Payables (0.05) 0.95
Other financial liabilities (1.97) 97.54
Provisions 0.1 1 0.77
Other non fin ancial liabilities (60.37) (67.70)
Net cash (used in) 01ierating acth•ities before taxes (2,838.87) (3,435.67)
Income taxes paid (net of refunds) 43. 16 (335.03)
Net ca.\'h (11.red i11) operati11g activitie.1· (A) (2,795.7 1) (3,770.70)

B. Cash flow from investing activities

Purchase of property, plant and equipment (2 59) (5 81)
Proceeds from sale of property, plant and equipment 11.71 20.77
Purchase of intangible assets ( 1.90) (4.92)
Net proceeds from sale of investment in subsidiary 3,533.36
Investment by PFL Employee Welfare Tnist (treasury shares) (53.02)
Net cash outflow from PFL Employee Welfare Tnist activities (7.72)
Purchase of investments (87,880.39) (29,469.96)
Proceeds from sale of investments 87,5 I 3.23 29,322.90
Net CflSh ge11er{lfetlfrom/(11sed in) i11vexti11g activilies (B) (420.68) 3,396.34
C. Cash now from financing activities
Proceeds from issue of debt securities and subordinated liabilities 500.00
Redemption of debt securities and subordinated liabilities (428.97) (200.00)
Proceeds from borrowings • tenn loans 5,625.00 1,625.00
Repayment of borrowings • term loans (4,612.98) (2,835.50)
Repayme111 of borrowings• pass through certificate (87.16)
Loans repayable on demand (including commercial papers) (net) 1,944.14 1,595.49
lnterest on lease liabilities (8 09) (530)
Principal payment of lease liabilities (10 62) ( 1020)
Proceeds from issue of equity shares including securities premiu1n 73.54 9.42
Dividend paid (153.65)
Net ,·ash generate,/ from/(uset! i11) ji11a11ci11g activities (C) 3,082.02 161.90)
Net (decrease) in cash and cash equivalents (A+B+C) (134.37) (436.26)
Cash and cash equivalents at the beginning of the year 255. 18 601.38
Cash and cash equi,•alents at the end of the period 120.8 1 165.12

Note • Tiie above Statement of Cash Flow has been prepared under the 'Indirect Method' as set out in Ind AS 7 on 'Statement of Cash Flows'.

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I] The standalone unaudited financial results for the quarter and half year ended 30 September 2024 ("the financial resuhs11) of Poonawalla Fincorp Limited ("the Company") have been prepared in
accordance with Indian Accounting Standard (lnd AS) 34 'lnlcrim Financial Reporting' notified under Section 133 of the Companies Acl 2013 ("the Act"). Any guidancel clarifications/ di rections issued
by the Reserve Bank of India or other regulators are implemented as and when they are issued/ applicable.
2) The financial results for 1he quaner and half year ended 30 September 2024 have been reviewed by 1he Audi1 Committee and appro\'ed by the Board of Directors of the Company in their respective
meeting held on 25 October 2024.
3) The financial results for the quarter and half year ended 30 September 2024 have been subjected to limited review by the joinI statutory auditors of the Company as required under Regulation 33 and
Regulation 52 read with Regulation 63(2) or the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ("Listing Regulations"). The j oint statuto,y auditors have
expressed an unmodified conclusion on these financial resulls for the quarter and half year ended 30 September 2024
4) These financial results shall be filed with 1he BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") and shall be available on the Company's website
www.poonawallafincorp.com and on the websile of SSE (www.bseindia.com) and NSE (\vww.nseindia.com).
5) The Company is primarily engaged in 1hc business of financing in India and as such 1here are no separate reportable segments as per Ind AS 108 - 'Operating Segments'.
6) During the half year ended 30 September 2024, the Company has allotted 31 ,90,678 equity shares of face value oft 2/- each to the eligible employees of the Company under Employee Stock Option
Plan 2007 / Employee Stock Option Plan 2021 pursuant to the SEBI (Share Based Employee Benefits and Sweat Equity) Regula1ions, 2021 ("SBEB & SE Regulations·'), as amended from time to
time.
During 1he quarter, Nomination and Remuneration Committee (NRC) of the Company has approved modification of vesting schedule for ESOP 2021 plan, in line wi1h ESOP 2024 plan. Under ESOP
202 1 plan. the revised ves1ing schedule provides for the vest ing of the total options granted over a 3 year period from earlier vesting schedule of over 4 year period. Accordingly. the Company has
accounted the modification in line with lnd AS 102 - 'Share Based Payments'.
7] During the half year ended 30 September 2024, Employee Welfare Trust has acquired I0,80,000 equi1y shares o f the Company from the seconda,y market.
8] During the half year ended 30 September 2024, the Company has updated its Expected Credi t Loss model inpu1s with respect to its loan ponfolio, which has resulted in an additional impainnent
provision of~ 666.42 crs. •
9] During 1he half year ended 30 September 2024, the Company ha s issued commercial papers and non<onvertible debentures which were listed on the BSE pursuant to SEBI Master Circular No
SEBl/HOIDDHS/PoD I/P/C[R/2024/ 54 dated 22 May 2024, in conncc1ion thereto, refer the disclosure on regulation 52(4) of Listing Regubtions separately fi led \vith S1ock Exchanges.
JO] The Board of Di rectors and Shareholders of the Company in their respective meetings had approved sale of its shareholding in joi111 venture Jaguar Advisory Services Pri va1e Limited (JASPL) held on
2 November 202 1 and 13 December 2021. The Board has reaffim1ed plan to sell it's shareholding in JASPL in its mee1ing held on 29 April 2024. The sale will be subjec1 to requisite regulato,y
approvals. Accordingly, in line with the requirements of Ind AS I OS "Non<urrent assets Held for Sale". such investment has been classified as assets held for sale.
11] Pursuant lo 1he Regulation 54 of Listing Regulations, the listed secured non<onvertible dcbenlures issued by the Company are fully secured by way of hypothecation over the book debt/ receivables
and/or by mongagc of the Company' s immovable propenies, to the extent as stated in the respective information memorandum / key information document. Funher, the Company has maintained
required security cover as stated in the respective infonnation memorandum which is sufficient 10 discharge the principal and the interest amount at all times for the non-convenible debt securities
issued by 1hc Company The security cover cenificate as per regulation 54(3) of Listing Regulations read with SEBI t\•1aster Circular SEB1/HO/DDHS-PoO3/P/CIR/2024/46 dated 16 May 2024, has
been separately filed with Stock Exchanges

12] Disclosures pursuant to RBI Mas1er Dircc1ion on Transfer of Loan Exposures dated 24 September, 2021 are given below :
ta) Del ails of transfer thro u' --
~h ass·Iimment in resoect of loans not in default d unng the h aIf V ear ended 30 Sen1ember JQ?4
13,556
Count of loan accounts assigned
Amount of loan accoums assigned (tin crores) 1,224.04
Retention of beneficial economic interest (MR.R) 10%
Weighted average maturity (Residual Maturity) (in months) 32
Weighted average hold ing period (in months) 9
Coverage of tangible securi ty 19¾
Rating wise distribulion of rated loans Unrated

(bl Details of acouired 1hrou h assil.!.nmenl in resoect of loans not in default du rin~ the half vear ended 30 Scotember 2024
0

Par tirnla rs Seru red 1 Unsecured

Count of loan accounts acauired
Amount of loan accounts acquired(~ in crores)
Weighted average matu1il)' (in months)
Weighted average holding period (in months) N IL
Retention of beneficial economic imeresl
Coverage of tangible security
Rating-wise distribution ofra1ed loans

-
(c) Delails of stressed loans transferred durim.2 1he half vear ended 30 Seotember ?024
To othtr
To per mitted
Parliculars T o ARCs 11
1ransferees transferees
Count of accounts 1.806
Aggregate principal outstanding of loans transferred(~ in crores) 74. 19
Weighted average residual tenor of the loans transferred (in months) 28
Nel book value of loans transferred (at the time of transfer)(~ in crores) 5 81
Aggregate consideration including security receipts(~ in crores) 30.00
Additional consideralion realized in resoect of accounts transferred in earlier years
• In add111on to above, dunng the half year ended 30 September 2024, 1he Company has 1ransferred 4 ,345 loan accoun1s for an aggregate cons1derat1on of'° 17 crores, including security receipts. These
loan accounts were already written off in the books before such sale transactions.
 12] (d) Details of ra tin!!S of '-ecuritv receints oUt'-tandini! as on 30 Seotember 2024 are l!iven below
Particulars R.ttin>: A>:endcs R;1tin)!
Arci!-Retail Pon.0-16-A-T India Ratings RRI +
RARC027Trust lnfomcrics Valuation and Rating Prl\atc Limited IVR RR3
Retail June 2022 • Trust (Series I) CRISIL RR2
Retail June 2022 - Trust (Series IV) CRJSIL RRI
Retail June 2022 - Trust (Series VI) CRISIL RRI
Re1ail Ma_\ 2024 - Trust (Series I) Unr.lted
Re1.1il Ma} 202-1 - Trust (Series II) Unr.llcd
EARC TRUST SC· 080 India Ratings RR2

13] To relieve COVID-19 pandemic rela1ed stress, the Company has invoked resolution plans for el igible borrowers based on the parameters laid down in accordance with the one-time restmcturing policy
approved by the Board of Directors of the Company and in accordance wi1h 1he guidelines issued by 1he RBJ on 5 May 2021 (the Resolution Plans")
Disclosure on Resolution Framework implemented in 1erms of RBI circulars RB l/202 1-22/31 DOR.STR.REC, 11/2 1.04.048/202 1-22 dated S May 202 1 and RBl/2020-21 / 16
DOR.No.BP.BC/3/2 1.04.048/2020-2 I daied 6 August 2020
'" in crores)
(D)
( B) (C) ( E)
Of (A)
(A) Of(A). Of(A) Exposure 10 accounts dassifitd
amount paid
Exposu re lo accounts classified as Sta ndard aggregate debl amounl as St:rndard consequent to
Type of borrower by the
consequent to implementation of resolution plan - that slipped into writlen off implementa tion or resolution
borrowers
Position as at lh e end of 31 March 2024 N PA during the during lht plan - Position as at the e nd of
du ring the
half-year ha lf-yea r JO SeJ)ttmber 2024
ha lf-year #
PersonaJ Loans - -
Corporate persons• -
~ISMEs -
01hers 36.95 I.SO 2.50 7.02 25.93
Total 36.95 1.50 2.50 7.02 25.93
• As defined in Section 3(7) of the Insolvency and Bankruptcy Code. 2016
" Includes NPA sale
# b1cludes interest accrued during the period.

material to financial results.

By order of the Board

Pl:ice • Mumbai M a naging Director & CEO

Date • 25 October 202..J ( OI N No.: 10429289)

Registered O ffice: 201 and 202, 2nd Floor, AP81 , Koregaon Park Annexe, t\lundhwa, Pune-411 036, Maharashtra
\Vebsile: www.poonawallafincorp.com; C IN : L51504PN1978PLC209007
Phont-: +9 102067808090~ E-mail: [email protected]
 JP POONAWALLA
FINCORP
POONAWALLA FINCORP LIMITED

Statement under Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 for the Quarter and Half Year Ended 30 September 2024

SI.No. Particulars Standalone Consolidated

a. Debt-equity ratio 2.26 2.24
b. Debt service coverage ratio Not Applicable
c. Interest service coverage ratio Not Applicable
d. Outstanding redeemable preference shares
a) quantity (no. of shares) NIL NIL
b) value(:{ in crores)
e. Capital redemption reserve(' in crores) 14.22 14.22
Debenture redemption reserve**("'- in crores) NIL NIL
f. Net worth (' in crores) 8,015.14 8,065.82
g. Net Profit/(Loss) after tax('< in crores)
- For quarter ended 30 September 2024 (471.04) (471.04)
- For half year ended 30 September 2024 (179.40) (179.40)
h. Earnings per share { Face value of :C 2/- each )(not annualised)
a) Basic (in '<) - For quarter ended 30 September 2024 (6.10) (6.10)
- For half year ended 30 September 2024 (2.33) (2.33)
b) Diluted (in'<) - For quarter ended 30 September 2024 (6.10) (6.10)
- For half year ended 30 September 2024 (2.33) (2.33)
i. Current ratio Not Applicable
j. Long term debt to working capital Not Applicable
k. Bad debts to account receivable ratio Not Applicable
I. Current liability ratio Not Applicable
m. Total debts to total assets 0.67 0.67
n. Debtors turnover Not Applicable
o. Inventory turnover Not Applicable
p. Operating margin {%) Not Applicable
q. Net margin (%)
- For quarter ended 30 September 2024 -47.27% -47.27%
- For half year ended 30 September 2024 -9.00% -9.00%
r. Sector specific equivalent ratio
a) Gross stage 3 % 2.10%
b) Net stage 3% 0.33%
 POONAWALLA
FINCORP
POONAWALLA FINCORP LIMITED

Statement under Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 for the Quarter and Half Year Ended 30 September 2024

**Pursuant to Rule 18(7)(b)(iii) of the Companies (Share Capital and Debentures) Rules, 2014, as amended vide the Companies (Share
Capital and Debentures) Amendment Rules, 2019, the Company, being an NBFC registered with the Reserve Bank of India under Section
45 IA of the RBI Act, 1934, is not required to create a Debenture Redemption Reserve, in respect of public issue of debentures and
debentures issued by it on a private placement basis.

During the half year ended 30 September 2024, the Company has issued commercial papers and non-convertible debentures which were
listed on the BSE pursuant to SEBI Master Circular No SEBI/HO/DDHS/PoDl/P/CIR/2024/54 dated 22 May 2024.

By order of the Board

r Poonawa

Place : Mumbai Managing Director & CEO

Date : 25 October 2024 DIN No.: 10429289

Registered Office: 201 and 202, 2nd Floor, AP81, Koregaon Park Annexe, Mundhwa, Pune-411 036, Maharashtra
Website: www.poonawallafincorp.com; CIN: L51504PN1978PLC209007
Phone: +9102067808090; E-mail: [email protected]
 POONAWALLA
FINCORP

B. Statement of deviation/ variation in use oflssue proceeds:

Particulars Remarks
Name of listed entity Poonawalla Fincorp Limited
Mode of fund rais ing P1:10l ie issHe/ Private placement
Type of instrument Non-convertible Securities
Date of ra is ing funds 05/09/2024 •
Amo unt raised Rs. 425.01 Crore
Report filed for quarter ended 30/09/2024
Is there a deviation/ variation in use of funds ra ised? No
Whether any approval is required to vary the o bjects of ¥-es/ No
the issue stated in the prospectus/ offer document?
If yes, details of the approval so required? NA
Date of approval NA
Explanation for the deviation/ variation NA
Comments of the audit committee after review NA
Comments of the auditors, if any NA
Objects for which funds have been raised and where there has been a deviation/ variation, in _the following
table:
Original Modified Original Modified Funds Amount of deviation/ Remarks,
object object, if allocation allocation, utilized variation for the if any
any if any quarter according to
applicable object (in
Rs. crore and in %
NA NA NA NA NA NA NA
Deviation could mean:

a. Deviation in the objects or purposes for which the funds have been raised.
b. Deviation in the amount of funds actually utilized as against what was orig inally disclosed.

~ ~
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Name of the Signatory: Sanj ay Miranka
Designation: Chief Financial Officer

Date: October 25, 2024

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Poonawalla Fincorp Limited

CIN: LS1504 PN1978PLC209007
Registered Office: 201 and 202, 2nd floor, AP81, Koregaon Park Annex, Mu ndhwa, Pune - 411 036
T: +9120 67808090 I E: secretarial@poonawallafi ncorp.com I W: www.poonawallafincorp.com
 JP POONAWALLA
FINCORP

Annexure -A
Statement of utilization oflssue proceeds:
If 8 is
Yes, t hen
specify
Any
Mod e of Fund the
Devia
Name of the Raising(Public Date of Amount Funds Utilized purpose Remark
ISIN Type of Instrument tion
Issuer lssues/Priyate raising funds raised (Rs.) (Rs.) of for s, If any
(Yes/
Placement) which
No)
the fund s
were
utilized

1 2 3 4 5 6 7 8 9 10

Secured, Rated, Listed,

Poonawalla Redeemable, Non-
Private
Fincorp INE511C07821 convertible Debentures 05/09/2024 4250125000 4250125000 No NA NA
Placement
Limited (PFL SERIES 'Fl' FY 2024-
25)

Total 4250125000 4250125000

Poonaw alla Fincorp Lim ited

Cl N: L51504 PNl978P LC209007
Registered Office: 201 and 202, 2nd floor, AP81, Koregaon Park Annex, Mundhw a, Pune - 411036
T: +9120 67808090 I E: secret arial@poonaw allaf incorp.com I W: www.poonawallaf incorp.com
 LLP
KIRTANE &PANDIT
Chartered Accountants
Pune I Mumbai Noshik I Bengaluru I Hyderabad I New Delhi I Chenno i

To
The Board of Directors
Poonawalla Fincorp Limited
201 and 202, 2nd Floor,
AP81, Koregaon Park Annex,
Mundhwa, Pune - 411036

Independent Auditor's Certificate on the Statement of book values of the assets offered as security
against listed debt securities pursuant to Regulation 15(1)(t)(ii)(a) of Securities and Exchange Board
of India (Debenture Trustees) Regulation, 1993 read with Clause 1.1 of Chapter V of SEBI Master
circular SEBI/HO/DDHS-PoD3/P/CIR/2024/46 dated 16 May 2024.
1. This certificate is issued in accordance with the terms of our engagement letter dated 26
September 2024 with Poonawalla Fincorp Limited (The "Company").
2. The accompanying statement containing details of l isted secured Non-Convertible Debentures
('NCDs') of the Company outstanding as at 30 September 2024 (as mentioned in Annexure I of the
accompanying statement) and book values of the assets offered as security against listed secured
debt securities of the Company outstanding as at 30 September 2024 (as mentioned in Annexure
II of the accompanying statement) (hereinafter referred to as 'the Statement') has been prepared
by the Company's management for the purpose of submission of t he Statement along with this
certificate to the Debenture Trustee of the Company pursuant to the requirements of Regulation
15(1)(t)(ii)(a) of Securities and Exchange Board of India ('SEBI') (Debenture Trustees)
Regulations,1993 (as amended) ('Debenture Tru stees Regulations') read with paragraph 1.1 of
Chapter V of SEBI Master circular SEBI/ HO/DDHS-PoD3/P/CIR/2024/46 dated 16 May 2024 (as
amended) (collectively referred to as 'the Regulations'). We have attached the Statement for
identification purposes only.
Management's Responsibility
3. The preparation of the Statement is the responsibility of the management of the Company
including the preparation and maintenance 9f all accounting and other relevant supporting records
and documents. This responsibility includes the design, implementation and maintenance of internal
control relevant to the preparation and presentation of the Statement and applying an appropriate
basis of preparation; and making estimates that are reasonable in the circumstances.
4. The management is also responsible for ensuring the compliance with the requirements of the
Regula ti ons and the offer document/Information memorandum and/or debenture trust deed
(collectively referred to as 'the offer documents') for the purpose of furnishing this Statement and
for providing all relevant information to the Debenture Trustee.
Auditor's Responsibility
5. Pursuant to requirements as referred to in paragraph 2 above, it is our responsibility to express a
limited assurance in the form of a conclusion as to whether anything has come to our attention that
causes us to believe that the details included in the accompanying Statement regarding
maintenance of security cover as per the terms of the Offer Document/Information Memorandum
and/or DTDs in respect of l isted NCDs of the Company outstanding as at 30 September 2024 as
given in Annexure II of the accompanying statement are, in all material respects, not in agreement
with the unaudited standalone financial results of the Company, underlying books of account and
other relevant records and documents maintained by the Company for the quarter ended 30
September 2024.

Page 1 of 3

601. 6th Floor, Earth V1nioge. Senopoli Bopol Marg, Dodor Wes!. Mumbai- 400 028. I
O +91022 24444119 / 5. 244697\3 a, kpcorTI1..HY1bol@lklrtonepond1tcom (:) www kirtonepo
Poonawalla Fincorp Limited - Independent Auditor's Certificate on the Statement of book values of the
assets offered as security against listed debt securities

6. The unaudited standalone financial results, referred to in paragraph 5 above, have been reviewed
by Kirtane & Pandit LLP and M S K A & Associates, on which we have issued an unmodified
conclusion vide our report dated 25 October 2024. Our review of standalone financial results was
conducted in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim
Financial Information performed by the Independent Auditor of the Entity, issued by the Institute
of Chartered Accountants of India ('the ICAI'). A review is limited primarily to inquiries of the
Company personnel and analytical procedures applied to the financial data and other review
procedures. A review is substantially less in scope than an audit conducted in accordance with the
Standards on Auditing specified under section 143(10) of the Act, and consequently, does not
enable us to obtain assurance that we would become aware of all significant matters that might be
identified in an audit. Accordingly, we do not express an audit opinion.

7. We conducted our examination of the Statement, in accordance with the Guidance Note on Reports
or Certificates for Special Purposes (Revised 2016) ('the Guidance Note'), issued by the Institute of
Chartered Accountants of India ('the ICAI'). The Guidance Note requires that we comply with the
ethical requirements of the Code of Ethics issued by the ICAI.

8. 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, issued by the ICAI.

9. The procedures performed in a limited assurance engagement vary in nature and timing from, and
are less in extent than for, a reasonable assurance engagement; and consequently, the level of
assurance obtained in a limited assurance engagement is substantially lower than the assurance
that would have been obtained had a reasonable assurance engagement been performed. The
procedure selected depend on the auditor's judgment, including the assessment of the areas where
a material misstatement of the subject matter information is likely to arise. We have performed the
following procedures in relation to the Statement:

a. Obtained the details of security cover from terms of the Offer Document/Information
Memorandumand/or DTDs in respect of the listed NCDs outstanding as at 30 September 2024;
b. Obtained the list and value of assets offered as securit y against listed secured debt securities
of the Company outstanding as at 30 September 2024;
c. Traced the value of assets forming part of the security cover from the unaudited standalone
financialresults, underlying books of account and other relevant records and documents
maintained by the Company for the Quarter ended 30 September 2024;
d. On test check basis, verified the ISIN, type of charge, facility, cover required, underlying assets
required from the offer documents provided by the management of the Company;
e. Verified the arithmetical accuracy of the Statement; and
f. Performed necessary inquiries and obtained necessary representations from the management
of the Company.

Conclusion

10. Based on our examination and the procedures performed as per paragraph 9 above, evidences
obtained, and the information and explanations given to us, along with the representations provided
by the management, nothing has come to our attention that cause us to believe that the details
included in the accompanying Statement regarding book values of the assets offered as security
against listed secured debt securities of the Company outstanding as at 30 September 2024 as
given in Annexure II of the accompanying Statement are, in all material respects, not in agreement
with the unaudited standalone financial results of the Company, underlying books of account and
other relevant records and documents maintained by the Company for the quarter ended 30
September 2024.
Page 2 of 3
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601. 6th Floor. Earth V1ntoga. Seoopali Bapot Marg. Dodor Wesl. Mumbai- 400 028. Indio
O +91022 24444119 J 5. 24469713 G kpcomumbol@kirtonepond,t.com (;) www kirtonepond
Poonawalla Fincorp Limited - Independent Auditor's Certificate on the Statement of book values of the
assets offered as security against listed debt securities

Restriction on distribution or use

11. Our work was performed solely to assist you in meeting in your responsibilities in relation to your
compliance with the requirements of the Regulations. Our obligations in respect of this certificate
are entirely separate from, and our responsibility and liability are in no way changed by, any other
role we may have as statutory auditors of the Company or otherwise. Nothing in this certificate, nor
anything said or done in the course of or in connection with the services that are the subject of this
certificate, will extend any duty of care we may have in our capacity as statutory auditors of the
Company.

12. The certificate is addressed to and provided to the Board of Directors of the Company solely for
the purpose of enabling it to comply with the requirements of the Regulations which requires it to
submit this certificate along with the accompanying Statement to the Debenture Trustee, and
should not be used, referred to or distributed for any other purpose or to any other party without
our prior written consent. Accordingly, we do not accept or assume any liability or any duty of care
for anyother purpose or to any other person to whom this certificate is shown or into whose hands
it may come without our prior consent in writing.

For Kirtane & Pandit LLP

Chartered Accountants
Firm Registration No: 105215W/W100057

Sandeep D. Welling
Partner
Membership No: 044576

UDIN: 2404~ 576 B~AV l<'E9433

Place: Mumbai
Date: 25 October 2024

Page 3 of 3

601. 6th Floor. Earth Vtntoge. Senopall Bopot Marg. Dodor Wesl Mumbai- 400 028. Indio
O +91 022 24444119 / 5. 24469713 c, [email protected] E) WWW klrtanepond11 com
Annexure I: ISIN w ise details of l isted secured non-convertible debt securities ('NCDs') outstanding as at 30 September 2024

SI. No. ISIN Type of charge Secured/Unsecured Outstanding debentures as at 30 Name of Trustee Company
September 2024 *
1 INE511 C07706 Exclusive Secured 2.69 Catalyst Trusteeship Limited
2 INE511C07714 Exclusive Secured 2.12 Catalyst Trusteeship Limited
Total 4.81
3 INE511 C07763 Pari-passu Secured 58.01 Catalyst Trusteeship Limited
4 INE511 C07771 Pari-passu Secured 114.19 Catalyst Trusteeship Limited
5 INE511 C07789 Pari-passu Secured 104.80 Catalyst Trusteeship Limited
6 INE511C07797 Pari-passu Secured 263.57 Catalyst Trusteeship Limited
7 INE511 C07805 Pari-passu Secured 263.57 Catalyst Trusteeship Limited
8 INE511C07813 Pari-passu Secured 78.01 Catalyst Trusteeship Limited
9 INE511C07821 Pari-passu Secured 427.48 Catalyst Trusteeship Limited
Total 1,309.63

* Represents amount of principal outstanding and accrued interest.

For Poonawalla Fincorp limited

Sanjay Miranka
Chief Financial Officer
Place: Mumbai
Date: 25 October 2024
 (INR in Crs)
Annexure II: Stat ement of book value of assets as at 30 September 2024

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ASSETS

Property, Plant and Equipment

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Pro"e-.
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0.56
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No
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NA ◄5.22
. 45.78

C aoital Work•in• Prooress No NA NA

Rioht of Use Assets No NJ NA 161.13 161.13
Goodwilt No N NA
Other l ntannible Assets No N NA 15.19 15.19
lntanoible Assets under Oevelnnment No NA NA 2.15 2.15
Investments No NA NA 1,239.21 1 239.21
Book Debt 8,108.72 24,6'6. 36
Loans (Refer note 1 and 2) 5.29 ◄9 .-48 Yes 1,309.63 1 5.173.2◄
Receivables
Inventories No NA NA
Trade Receivables No NA NA 1 ◄ .80 14.30
Cash and Cash Eouivalents No NA NA 120.81 120.81
Bank Balances other than Cash and NA 17 .12 17.12
No NA
Cash Enuivatents
Others No NA NA 689 ,02 639.02
Total s.8 s 49.48 1,309.63 15,173.24 10,413 .37 26,951.57

LIABILITIES
Secured Non
Debt seC\Jrities to which this 1,309.63 NA 1,359.43
Convertible -".81 -44.99 Yes
certificate pertains (Refer note 3)
Debentures
Other debt sharing pari.passu charge NA
No NA
with above debt
Other Debt No NA NA
Sub ordinated debt + POI No NA NA 2◄7 .56 247.56
Borrov.ings (Te<m loans other than 17( ,70 2,09 •.31
No NA 1,9 19.61
banks\
Bank (Tls and Loans repayable on NP 10,643.74 10,643,7.(
not to be filled No
demanrl\
Debi Securities others No NA NA
Others (Commercial Pa"er No NA NA 3 849.23 3 849.23
Trade oavables No NA NA 2.84 2.84
lease UabKities No NA NA 186.22 186.22
PrO\lisions No NA NA 9.55 9.55
Others No NA NA 5◄3,56 543.56
Total 4.81 ((,99 1 309.63 12 563.35 5013.66 18 936,44
Cover on Book Value 122% 100%
Cover on Market Value

Exdusive
Pari•Passu Security
Security Cover
Cove r Ratio
Ratio

Notes:
1. Assets considered for pari•passu charge is calculated based on asset cover requirement as per respective information memorandum for securities and as per sanction for loans,
2. The Company extends loans (Secured and U nsecur ed) which has been classified as amortized cost as per applicabl e Ind-AS. Hence. the Company has considered the book value (Gross of impairment provision) under column C, D , F & G for the purpose of this certificate.

~
3. Book value represents principal and interest accrued of all secured NCD's issued by the company.
4, Rep orting under column K to O is not app licable for this certificate.

Place: Mumbai
..Jt,,"
Chief :~:j:!a~~~finc:
Dated: 2 5 October 202◄ For Poonawalla Finc o rp Limited